GameStop: Not Again!

Equities have the look and feel of digesting yesterday's explosive rally on the back off a sloppy end to the month of February. A settling down process now would be fine by me, though bulls probably do not want to see the S&P 500 Index back under 3,850 anytime soon or else risk a full giveback. 

In the meantime, we have some intriguing sectors like sports betting. BETZ is the sector ETF. And I see quite a few plays Members and I have been discussing, beyond DKNG and PENN. Note that with the $1400 stimulus checks coming within a few weeks (most likely), it could easily coincide with NCAA's March Madness. You can be sure there will be an aggressive push to see that money funneled into college basketball betting, a tradition with office pools during that time of year. Of course, in this new world of gambling and easy money in general, sports betting is a natural offshoot of the office pools. Hence, a play like DMYD has merit, on top of being a sound chart. 

And then there is always GME. On the updated GameStop chart, below, the highlighted bull flag pattern illustrates that the high-flyer may have more lives than, well, a roaring kitty. AMC is flashing a similar pattern, as both of these names did indeed correct sharply off their highs from late-January. However, their charts seem like they are actually setting up again. True, there are less shorts in GME now. But that need not preclude a rally alongside sports betting stocks as the "Stimmy" funds head towards Americans' bank accounts this month.