SPCX Gap DownSpace Exploration Technologies CorpBATS:SPCXDontListenToThisClownSpaceX comes back to earth like a meteor. I'm looking at shorting the heck out of it tomorrow if this plays out. Here's my thesis: 1) Hourly is bearish + obvious bull trap & we have a prospective H&S formation w/ $135 rejection. 2) It took 3 stop hunts to crack $133 - a key options level believe it or not. That's big time bearish, but it does show resolve. 100% stop hunts made the moves while broader indexes were all asleep. 3) CPI comes in hotter than expected. Chances of 2.5% and 2.6% are both rising on poly 4) Friday was a setup for distribution, otherwise SPCX would be an $80 stock now - all because shorts got crushed by design. 5) MM Gamma flip level is $132.25 - which is key for reasons explained below. The narrative was with 911M new shares added to float after the share unlock, and an IPO float of a paltry 638M (a 142% float expansion) that SPCX could only do one thing - dump. Instead it ripped 30% by design and crushed shorts in the process. I'd like to draw another supply and demand parallel. I'm sure all my fellow wsb fanbois remember the agony of robinhood turning off our ability to buy GME, AMC, etc - but not our ability to sell. GME, AMC, et. al - all immediately cratered. This share unlock almost tripled the number of sellers without adding a single buyer. I would argue that the share unlock has created such a surplus of sellers that the slightest nudge down will cause shares to snowball downhill. The shorts were the wheel chock. The 4% drop we saw today was the car starting to roll down the hill straight for the neighbor's house. Today's 4% drop was just the start of the distribution. Like cheese for a rat, they're dangling a low volume node and that .618 level (between 135-151.21) as bait. They used similar tactics when they suckered shorts in w/ all the buzz over the share unlock and subsequent gap down last Thursday morning. I don't see it as anything as a massive bull trap. A lot of stakeholders are going to come home to find SPCX dumped 4-5% today, and queue up stop loss orders or limit orders to protect their early investment. The liquidity is below current price. The puts were crushed last week so there's very little to stop the fall. The key level is $132.25 - that's where market makers go negative gamma, and if we gap down, they'll be forced hedge (selling into and accelerate the drop) - which is why I'm considering loading up on shorts like a fat kid in a candy shop. I think we gap down tomorrow morning. We likely start at 126 if CPI comes in over 0.25% or 118 as CPI gets closer to 0.4%. Retailers will want to fill that gap, and that's how it'll start...then retail will expect to push into rat cheese land - all while the rich get richer distributing their SPCX shares to the willing suckers only to buy them back in a couple months for $.50 on the $1....