What's going on moon gang, this is your dumb money update for today, tuesday december 7th, and what a turnaround tuesday. It was we're finally seeing green, green green across the board. I hope you're, seeing green in your own portfolio. So over the past week or two, there were varying things that put pressure and some caution and maybe people being a little bit risk adverse and we were seeing some downward pressure across many different markets.

But it's looking as if we finally found a base and things are starting to bounce off of that. So once again i hope you're. Finally, seeing some green in your p l now, this particular update video i'll be going quickly over. What's going on in the overall market, i'll be pointing out some equities.

I think have some interesting opportunity right now and then, at the very end, i'll be giving you a quick update of our two favorite moon stocks, both amc and gme. Now before we get into all of that, just a very friendly reminder. If you enjoyed this video, it would be awesome if you could drop a like and don't forget to join up with the moon gang by hitting that red subscribe button if you want to so with all that being said, let's hop right into it. So out of all days, why was today a particularly green day? The answer to that is because of fears related to the unicorn variant are finally subsiding to a pretty serious degree, which is good for all of us.

It's good for the market. This is coming from a report from valachi saying that the unicorn variant is almost certainly not more severe than delta. So that's good. That's taking away some of the concerns and morgan stanley actually took it a step.

Further morgan stanley sees fed as greater threat to stocks than unicorns, so this is referring to the tapering and what they're doing with that? It's expected that they're actually going to double up the rate from cutting off 15 billion to 30 billion in december, and then they might even speed it up opposed to trying to end all the tapering in june, maybe potentially looking at like that march april-ish time frame. So this is what they're referring to is: how is the fed going to behave with the overall market, particularly with their tapering? How quick do they want to be basically the gradient of previously being extremely dovish? How hawkish are they going to go in the current scenario? That's the overall market, the risks definitely being alleviated between the unicorn variant kind of subsiding. The fears of a government additional government shutdown not happening anymore, so things the risks where people didn't know what was going on are all kind of being figured out and people are kind of calming down and we're seeing that in enthusiasm. Nice green enthusiasm in the overall market now before we get into the markets.

I want to share something interesting that was posted last night. This is from the account zero hedge. It's a very big popular account on twitter. I recommend checking it out brace for face ripping short squeeze now.

Obviously, if you're a member of the ape community, whenever you hear face ripping short squeeze, obviously your ears are going to perk up a little bit and i just kind of want to point this out. So this was posted by goldman sachs, and just so you know the date was december 3rd. I believe largest 10-day net selling in u.s equities since april 2020, as hedge funds continued to reduce net exposure through shorts, driven again by short sales outpacing long buys 4.5 to 1, driven by short sales and, to a lesser extent, long sales, nine to one and they're. Just talking about various data points that they have for goldman sachs, but the takeaway here is the extreme amount of selling.

So this net exposure - it's it's people are going short. Not only are they locking in long positions, but people are like actively going short to create a position to a very notable degree. Short sales outpacing long buys 4.5 to 1. If these players got it wrong across the entire market, i'm not talking about specifically amc and gme, but if this amount of short betting, these bearish bets were incorrect, and this was a momentary check to the bottom side and the market keeps ripping it's very much.

This face ripping short squeeze. We might be seeing some insane volatility and fireworks across all markets depending on how this particularly plays out record sale, setting amount of net selling. That is crazy now, before we get into the overall market. Just your quick check on crypto bitcoin still hanging about 50 000 uh.

So it looks like this dip wants to be bought, we'd love to see it break above 53. ethereum hanging out sideways at 4 300, but still a nice dip off of 3600 matic, very strong. The next resistance on matic is at 250, currently trading at 240. After that, i'm watching the all-time high of about 281 282 loop ring also very strong, hang down at 250.

we'd love to see this recapture three dollars, and i was going to talk about this in a little bit. But just a quick reminder: gamestop has its earnings report after the market closes on wednesday december 8th and with its connection, potential alleged connection to loop ring. If there is an official announcement you might see also in addition to volatility in gamestop, you might also see some serious volatility in lrc so worthwhile to pay attention to beyond that. I'm also watching avalanche because, right now it's not 91 and i think an awesome dip buy that i've already missed twice is around 80., so kind of watching there lots of opportunity.

Currently, in crypto moving on to the overall markets, the s p 500 had a phenomenal day. It was up two percent broke through the resistance at 460.. My next watch is 470 65., so about halfway through 470., currently at 469.. I i feel very confident, and then right after that, all we have to really pay attention to is the all-time high.

This is kind of exciting stuff. This is tied in what the top 10 close highest closes ever potentially top 20 for sure, and with a day like this up 2, when we know that we have some of the biggest net selling ever people might start to feel the pressure which would be for A further push to the upside as all those scared shorts start to cover the q's had a great day notable gap up 47 opened up at 3.92. I do think that this gap will one day close, but right here, the tech sector. Looking very strong, i'm watching that key psychological and key technical level of 400.

After that we have 407 and the all-time high is 408.71. The russell 2000 same thing gap up, looking strong, probably very much helped with a nice green day in amc because remember amc's. The biggest equity within this particular etf had a nice gap up to 222.. I would actually like to see it very quickly.

Fill this gap up to 228 54.. That's my next watch, but we're coming off an oversold rsi. So things are looking very nice for an overall reversion play. I think the question for the equities market.

The crypto market is now that there has been bearish momentum. That has finally kind of gone out of the way and bullish momentum. Apis momentum is starting. The question is: how long can it possibly last now before we get into the specifics of amc, which had a great day up 7.8, let me give you some of the other information short interest is going higher and higher and higher.

We are currently up to 18.6. The utilization 77 shares on loan around 100 million, so getting back up to that 100 million mark pretty interesting as it continues to go up like this. The newest shorts could get burned very very quickly in terms of the options market. We're definitely seeing an agreement between the options market and what we saw in price action today.

The bullish premium was around 52. Now coming back to the chart, i'm loving this breakout right here. We were testing with it and 31. 20.

25 is the level i care about so we've seen this sell-off ever since late november, all the way down, and then it started dancing around and clearly for us to start building up this momentum. As we have a bit of bullish divergence in the rsi, the stock has gone lower, but the rsi not as much low, so the bearish momentum starting to dry up. I would love to see this breakout above 31.25 now, unfortunately, today we closed just below it or right at 31, nice 7.8 percent gain i'm not taking away from that at all, but i think a nice close above that could really open up the doors for a Nice push a very quick push all the way up to 35. So that's what i'll be watching for on amc, but it does seem like that.

Some bullish and 8-pish momentum is finally returning now in terms of gamestop, the short interest is up to 12 utilization. 28 shares on loan 6.72 million gamestop had also pretty solid day, as were one day out from its earnings announcement. It gained 6.4, and i would say that was once again uh in agreement with what we saw in the options market. The bullish flow was about 53.6.

Now, in terms specifically of the technicals, we had a nice technical bounce off of 167 resistance resistance support, support we finally bounce off of it. We also have some trend lines, we'd love to see this get momentum above 188 and then i'm watching the region from 196 to 200.. So, in a similar boat of many equities, pretty similar to amc of all these things sold off, found a level of support and we're now trying to build up momentum. So the golden question is: how hard can it possibly go? How high is the momentum? What's it really going to look like and we might have an additional fundamental driver, because gamestop tomorrow, wednesday december 8th after the market closes, has its earnings announcement? You never know what is or isn't going to be said, so that could definitely prompt some enthusiasm.

Here's what you need to know, uh gamestop, is set to report. Its fiscal third quarter results after the market closes on wednesday. So, in terms of just pure fundamentals: here's what you're looking for the expectations are to report an adjusted net loss of 52 cents per share with sales around 1.19 billion. So that's what we're looking to beat! You want to be a loss of 52 cents per share and you also want to be a revenue uh, 1.19 billion.

With this. I also want to importantly iterate that we got to listen for other things. Uh. I am particularly interested in what in the world is going on with the nft marketplace.

Are they going to drop any of the potential names with loopering? What's going on there? It would be awesome to get any of those updates if they're going to give them to us. So when you're listening beyond just those pure numbers, see if there's any commentary on the nft marketplace, because i think some of the hints that could or couldn't be dropped related to that could definitely prom potentially an explosive response. So with all that being said, i would love to get your thoughts on crypto. What opportunities are you seeing there on amc and jimmy? What are you seeing there, and i actually do want to leave you with one thing quickly, so i was checking out some things on the options market apple today hit a new all-time high.

Currently, has a market cap of 2.8 trillion almost worth 3 trillion apple, the 170s 175s for december 10th december 17th were by far the most heavily traded options today. So i don't know if people are playing the momentum or if they know something we don't, but people are betting on this thing continuing higher and higher. I personally missed that trade, but i did get a little bit of a chunk of nvidia. I was playing it up to 324.

I did lock in some gains and i'm currently trading. Another chunk of nvidia calls to swing overnight, because i think this thing if it can break above 324, i'm kind of watching 332.. So this is a quick little swing trade. I that i've personally found myself in so with all that being said, are you playing apple? Are you playing in video? What other potential swing trades do you think are like really prominent right now.

Let me know in a comment below and until i catch you next time from me and share best of luck in the markets. You.