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Roaring Kitty Livestream Recap

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Written by Timothy Sykes
Updated 6/7/2024 5 min read
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Keith Gill went live on YouTube today.

Keith Gill …

A.K.A. Roaring Kitty on X …

A.K.A. Deep Fu—ing Value on Reddit …

A.K.A the meme-stock lord that started the GameStop Corporation (NYSE: GME) frenzy in 2020.

He resurfaced on social media last month, May 2024 after a long hiatus. This is the blog post I made when his cryptic post on X caused GME to spike 270%* last month.

Since his return to the public image, meme-stock volatility has been off the charts.

Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) was one of the most notable winners thanks to the meme momentum. It spiked 9,600%* the week after Gill resurfaced on social media.

And today, June 7, he held a much-anticipated livestream on YouTube … 

In case you missed the action, I’m posting this blog as a comprehensive play by play.

GME Price Action

As you’re about to see in this blog, GME is allegedly Gill’s only position. Let’s take a look at the price action on GME leading up to his live stream today.

See the chart below, every candle represents one trading day:

GME chart multi-week, 1-day candles Source: StocksToTrade

GME spiked 230%* after Gill returned to social media. And there was a lot of volatility in the days before his livestream.

The stream was scheduled to start at 12 P.M. Eastern on June7.

And as we crept closer to noon, the chat room started to fill up.

There were 100k people waiting …

Then it climbed to 200k … 300k …

The maximum number of viewers surpassed 600k at one point.

Gill officially went live at 12:27 P.M. Eastern, he showed up late … Fashionably.

Dressed up in medical bandages and comically placed bandaids, Gill greeted the chat as if recovering from GME’s already poor performance on the day.

Take a look at the screenshot below:

Now, let’s take a look at the GME price action intraday surrounding the livestream.

Quite The Tease …

When Gill was late, the GME stock dropped.

When he finally showed up, the price rebounded.

But his stream was fairly lighthearted. It didn’t push any positions. Overall his manner could be described as innocently at the whim of the market.

The lack of an aggressive bullish sentiment likely caused the resulting slack of GME shares until he ended the stream, anticlimactically.

Take a look at the chart below, every candle represents one trading minute:

GME chart intraday, 1-minute candles Source: StocksToTrade

It wasn’t the bull catalyst that a lot of traders were hoping for.

But I definitely give him props for showing his trade positions live for half a million people to see.

That’s the way trading should be! I share ALL of my trades.

Take a look at the screenshot below that I took from his stream:

In case you can’t read the fuzzy numbers … He was down 42% on the day. An unrealized day’s loss of $237 million!

Leaving him with $145 million worth of unrealized GME stock and stock calls.

Where will he go from here?

Where will GME go?

Nobody knows, LOL. That’s why I’m SO glad that I follow a systematic process for profits.

My students and I target key price action and focus on short term gains*.

See my post on X below congratulating a student who knows the REAL process for profits:

On the other end of the spectrum … Keith Gill and his followers are at the whim of the market every single day.

If I was under that kind of stress, I’d age a whole year in one day!

You don’t have to follow traders like Gill, who have ZERO idea of what a real trading process looks like, LMAO.

There are better ways to take advantage of this profitable price action.

>> Join our livestreams to see REAL traders at work <<

And keep an eye on the market’s hottest meme stocks next week:

  • GameStop Corporation (NYSE: GME)
  • AMC Entertainment Holdings Inc. (NYSE: AMC)
  • Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE)

This volatility isn’t over!

Cheers.

 

*Past performance does not indicate future results

 

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Timothy Sykes

Tim Sykes is a penny stock trader and teacher who became a self-made millionaire by the age of 22 by trading $12,415 of bar mitzvah money. After becoming disenchanted with the hedge fund world, he established the Tim Sykes Trading Challenge to teach aspiring traders how to follow his trading strategies. He’s been featured in a variety of media outlets including CNN, Larry King, Steve Harvey, Forbes, Men’s Journal, and more. He’s also an active philanthropist and environmental activist, a co-founder of Karmagawa, and has donated millions of dollars to charity. Read More

* Results are not typical and will vary from person to person. Making money trading stocks takes time, dedication, and hard work. There are inherent risks involved with investing in the stock market, including the loss of your investment. Past performance in the market is not indicative of future results. Any investment is at your own risk. See Terms of Service here

The available research on day trading suggests that most active traders lose money. Fees and overtrading are major contributors to these losses.

A 2000 study called “Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors” evaluated 66,465 U.S. households that held stocks from 1991 to 1996. The households that traded most averaged an 11.4% annual return during a period where the overall market gained 17.9%. These lower returns were attributed to overconfidence.

A 2014 paper (revised 2019) titled “Learning Fast or Slow?” analyzed the complete transaction history of the Taiwan Stock Exchange between 1992 and 2006. It looked at the ongoing performance of day traders in this sample, and found that 97% of day traders can expect to lose money from trading, and more than 90% of all day trading volume can be traced to investors who predictably lose money. Additionally, it tied the behavior of gamblers and drivers who get more speeding tickets to overtrading, and cited studies showing that legalized gambling has an inverse effect on trading volume.

A 2019 research study (revised 2020) called “Day Trading for a Living?” observed 19,646 Brazilian futures contract traders who started day trading from 2013 to 2015, and recorded two years of their trading activity. The study authors found that 97% of traders with more than 300 days actively trading lost money, and only 1.1% earned more than the Brazilian minimum wage ($16 USD per day). They hypothesized that the greater returns shown in previous studies did not differentiate between frequent day traders and those who traded rarely, and that more frequent trading activity decreases the chance of profitability.

These studies show the wide variance of the available data on day trading profitability. One thing that seems clear from the research is that most day traders lose money .

Millionaire Media 66 W Flagler St. Ste. 900 Miami, FL 33130 United States (888) 878-3621 This is for information purposes only as Millionaire Media LLC nor Timothy Sykes is registered as a securities broker-dealer or an investment adviser. No information herein is intended as securities brokerage, investment, tax, accounting or legal advice, as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any company, security or fund. Millionaire Media LLC and Timothy Sykes cannot and does not assess, verify or guarantee the adequacy, accuracy or completeness of any information, the suitability or profitability of any particular investment, or the potential value of any investment or informational source. The reader bears responsibility for his/her own investment research and decisions, should seek the advice of a qualified securities professional before making any investment, and investigate and fully understand any and all risks before investing. Millionaire Media LLC and Timothy Sykes in no way warrants the solvency, financial condition, or investment advisability of any of the securities mentioned in communications or websites. In addition, Millionaire Media LLC and Timothy Sykes accepts no liability whatsoever for any direct or consequential loss arising from any use of this information. This information is not intended to be used as the sole basis of any investment decision, nor should it be construed as advice designed to meet the investment needs of any particular investor. Past performance is not necessarily indicative of future returns.

Citations for Disclaimer

Barber, Brad M. and Odean, Terrance, Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors. Available at SSRN: “Day Trading for a Living?”

Barber, Brad M. and Lee, Yi-Tsung and Liu, Yu-Jane and Odean, Terrance and Zhang, Ke, Learning Fast or Slow? (May 28, 2019). Forthcoming: Review of Asset Pricing Studies, Available at SSRN: “https://ssrn.com/abstract=2535636”

Chague, Fernando and De-Losso, Rodrigo and Giovannetti, Bruno, Day Trading for a Living? (June 11, 2020). Available at SSRN: “https://ssrn.com/abstract=3423101”