Boom goes the dynamite. What's going on moon gang welcome back to another dumb money recap for today, tuesday july 20th and boy: oh boy are amc and g me looking froggy, we have quite a bit to go over. So let's hop right into it. Amc closed out.

The day at 43.09, which was a gain of almost 25 and it's up even more in after hours, training jimmy closed up the day at 191.18, which was a very, very nice gain of 10 right there, our two moon stocks, looking very, very, very good just so. You know overall market. This is what i want to talk about. This is the live streams today were titled turn around tuesday and that's exactly what we saw.

There is a statistical advantage to going long on the market on a tuesday after a very weak monday, and that's what exactly we saw so monday. The stock was the overall market, not the stock. Excuse me this is an etf, the s p 500. It was down almost 1.5 percent and right.

There turn around tuesday, looked very, very good for the s p, 500 and fortunately, for us it followed through also in amc and gme. Here are the technicals. I really really want to dive into with amc. So right now one of the questions i got a lot was: was this shorts covering? I don't think so.

In fact, i would strongly argue. This was just good old-fashioned. A technical dip buy opportunity and people saw the opportunity and really just jumped on it and made a lot of money had a good position. I mean very, very good stuff, so, on the daily perspective, uh the few things i want to point out here.

We have strong support between 30 33 right here. Support support, we bounce off of that region, and we came up. I was looking at the resistance between 40 and 42. The fact that we closed above 42 makes me very, very excited um from there.

We we cleared this resistance so tomorrow. My main setup, at least on this daily perspective, is to look at 46 and then past that we have a key psychological level at 50 and similar to 40 and 42. We have resistance from 50 to 52., so daily perspective. First target 46: after that 50, 52 and, of course, now this previous resistance of 40 to 42.

I would be predicting that it's gon na act as some form of support so right there we just we - you can see that there was just this bearish downtrend, then. Finally, the bulls, the apes they took, control of the rocket ship. We like broke this trend, so on this the bigger picture, the name of the game now is just: can the momentum continue and if you ask me write what we're seeing it seems oddly familiar to what we saw in late may now. I want this to happen again.

In fact, i want it to be even better, but of course, i'm not a financial advisor. I am not guaranteeing anything. I'm just watching some of this action to see if we see any similarities in the very near future. Overall, if you watched my update video yesterday, i was talking about the parabolic arc pattern and that was more of from the high you shoot up.

It goes parabolic, it consolidates sells off and it does a 62 retracement. That's exactly what we saw so right there. It seems like that's coming together in the larger time frame, and the thing i really want to bring to your attention is: there's actually multiple things that were really favoring the bull camp, the ape cam. We had the parabolic arc to bounce off a 62 retracement.

We have this overall george w going on a double bottom and from there we also have just the rsi we're seeing a lot of beautiful bullish diversions. The stock went roughly to the same level, but look at the rsi didn't. If you compare this low to this low at the double bottom, there was less bearish momentum right here, the second time around than there was the first time - and this tells you that the bears are weakening. The bulls are getting stronger, someone's starting to step in and buy, and this commonly leads to consolidation and or bounce, and that's exactly what we're seeing so right here the game is, is how big is this george w gon na actually get? Are we going up to 50? Are we going up higher to 55 and right now i mean i'm.

All i'm seeing across these charts is like strong buying opportunities. The question is just really: how quickly will things play out and i'm not a fortune teller? So i can't tell you the answer to it, but what i'm saying is on the daily chart. We saw the parabolic arc, we see a george w, we see bullish divergence in the rsi, it was screaming a buy opportunity and when you start putting all of this together with what we're seeing in the data, there's still a lot of people - betting against him. So today, 15.56 million shares returned.

I will be talking about that in a second 14.3 million borrowed with a net of 1.26 short interest of 14.15. So today the utilization to start off 87 shares on loan 92.62 million just so you have all the numbers. The thing i want to talk about is, i want to highlight the fact that the borrowed shares and the return chairs - oddly large, oddly, hardly large, so the one thing i want to really dive into is: is it reasonable that 15.56 million shares were actually covered, bought Back, i'm gon na say no. My reasoning for that is, let's take a look at what happened two days ago.

Remember t2 settlement, so if they were short, they covered two days ago, probably returned them. Now, if we look at two days ago, amc went from 37.38 down to 34.. I don't see anywhere in july 16th price action that would reasonably represent the covering of 15.56 million shares. So that means that this number is the other option.

Remember return. Shares is two things. First option share goes on loan. It's properly borrowed shorted covered returned two days later at the earliest.

The other option is the shares on borrowed, which means that it goes on loan and then it's just never shorted, and then it's returned. I think that's much more likely because we're just not seeing a spike worth 15 million shares of buying on july 16th. It just doesn't add up in my mind, like i'm, just not seeing where all that buying is so in my mind, they borrowed it. They decided not to short and they returned it.

That could have happened, however, long ago they could have been borrowed from weeks ago days ago or honestly, there's nothing stopping the fact they could have been borrowed today and then also returned today, uh. But my overall thesis here is that they were never bet against amc. They were simply borrowed and returned, and that has no impact on the price action to me. That's the most logical, i guess reasoning for what we're seeing, because i just don't see where they would have covered.

That's a lot of shares, especially given the current volume we would have seen bigger spikes. That leads me to today. Is it reasonable that this was short covering? I don't really buy that either? Maybe some maybe a minute amount of shorts actually covered in today's price action, but i think this was more of whoever out there just recognizing it as a good buying opportunity. The daily chart was super beaten down the rsi really really low.

I think people were looking at it as just a classic reversion play like i said a little bit earlier. The key here is: can we keep the momentum up enough that it drives it higher and we get like a full on short squeeze? We just need these shorts to actually cover and that's the game of like how much momentum can we truly continue with it? Overall, obviously, these are my own opinions. I implore you to do your own dd, your own research, on the situation, but i'm just not seeing where shorts actually covered, and i think this is just a good technical dip. Buy that led to some momentum and have my fingers crossed that this momentum continues into tomorrow and the remainder of the week, let's switch gears a little bit to gme, which also had a very very good day.

So we bounced off of we had some resistance. Some support around 165. This is where we bounced off of we broke above this previous resistance of 188. Today we closed that 191, like i said, amc and jimmy both had very very good days.

Next, stop, in my opinion, for gme is this region of resistance between 200 and 210 and of course, 200 is a key psychological level past that i'd roughly be watching 225 as the first target, and i think the targets i've been laying out for both amc and Gme very, very reasonable and in play for the remainder of the week in terms of the ortex numbers gme, a net return: 152 000 short interest of 14.5 percent. To start today off we had a utilization of 37 38 and shares on loan of 8 million. So, overall, to wrap all this up. Both of these stocks did so so well, and since i've been watching these stocks, like a hawk since the start of this year, i'm not going to guarantee anything.

But it seems like strong momentum days, especially into some of this post-market action. It does seem like it leads into excitement the next day. So that's what i'm going to be looking for, i'm going to be giddy when i get wake up to check out the pre-market action, because i would in no way be surprised if these things are continuing to gap up. But that's just my own theory.

My own thesis my own opinion. I would love to get your thoughts on both amc and gme in a comment below. If you enjoyed this video - and you want to help me out with the youtube algorithm, you know all that good stuff like subscribe, yada, yada yada and until i catch you next time for me and chair best of luck in the markets, you.