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About a year ago, not that many people had heard of WallStreetBets, and even fewer people frequented the place. Sure, as an investment subculture of the Internet, it was a fairly big deal, but the growth and media presence over the past year has been stunning.
This post isn’t about WSB in general but about one user in particular: he goes by the R-rated screen name of /deepfuckingvalue, but for the sake of semi-decency, we’ll just refer to this anonymous trader as DFV. I’m also going to assume that “he” is a “he”, since the male/female ratio of WSB is about a billion to one.
It’s clear that in spite of being in the thick of the earnings season, we are still in watching-paint-dry mode for markets in general. As I am typing this, the ES is down a remarkable 0.06% and the NQ is exploding a remarkable 0.11%.Whoop dee freakin’ doo da day. Anyway, that’s the nature of these wedges: they just get tighter and tighter until they break.