The past week has been quite the experience for retail traders. While it does appear to be a blow struck to the Wall Street elite, we should also prepare for blowback.
Rumblings of increased regulation, new taxes, and a whole gamet of responses have been talked about by congress people. What we know from history is that legislation very very very rarely works out in favor of retail investors. Glass Steagal was repealed so that apps like Robinhood could exist (who actually prey on small sized account retail investors).
There have been an influx of stock and crypto investors just based on this past week alone. Will Wall Street pull the rug out from them? Then they beg for legislation as they lose large quantities of money? These are the angles that must be considered while we celebrate the David vs. Goliath narrative being projected.
I'd also caution people because of the unconcerned or even congratulatory way WSB and GME speculators have been talked about in some media outlets. Very odd.
We have to stay vigilant, watch the technical details, the psychology, and the news this week because it might be very wacky.