What's going on moon gang, this is your dumb money update for today, wednesday december 8th in this particular update, video we'll be going over what's going on in the overall market, both equities and crypto, then we'll be diving into gamestop's earnings announcement which just dropped i'll, be Giving you a quick update of what's going on in terms of the short interest related to amc, and then i want to spend a little bit of time of really talking about two particular crypto projects that i'm excited about, and i would love to get your opinion On so with all that being said, let's hop right into it. So before we get into all the numbers and lines and bar charts, i want to bring this to your attention, as you can see at nancy. Tracker account suspended. This honestly might be the most important part of this particular video.

This is, this is fascinating. This was the account that was kind of calling out political, insider trading, particularly nancy pelosi and all of her amazing trades and how she's continually outperforming the market, which is just astounding at what point very seriously, is big tech, just like overreaching account suspended. All it was was pointing out things that are publicly available, like you can search it. These trades are available, they were just putting it all in one particular twitter account.

This is crazy. This was one of my favorite accounts. I hope it comes back quickly and it's getting very, very frustrating that people, at least in my humble opinion, are using their positions of power to stop other people from calling out the that they're actually doing. Uh.

So just wanted to bring this to your attention, and hopefully uh at nancy. Tracker is coming back asap now very quickly for your crypto update bitcoin after the south still coasting right now. Still above fifty thousand like that, we got ta push to 52 we'd like to see that re-test and a break up to 54. ethereum, holding very strong at 4 400..

We have matic that it hit almost 260 today. All-Time high is 281 282, so within striking distance and even avalanche is picking up now today, not the biggest position, but i finally did open a position on avex excited about that. One got in around 90. Currently, at 92 wanted to get in at 80, but i saved a little bit of capital if that opportunity does present itself now in terms of the overall market pretty good day.

Finally, we're getting a little bit of progress in terms of what's going on with congress. Passing some stuff right now went from the house going to the senate and from there the president can sign it to help with the debt ceiling. Most recently, uh yellen was saying that the debt ceiling we have enough money to around december 15th, so we're seeing a little bit of progress on that, but, most importantly, we're getting. Finally, some hardcore data related to the unicorn variant that it's not as severe as it could be and pfizer is even seeing that, with its third shot, you're actually going to get quite a bit of help, i wouldn't say complete coverage.

That's not really what the data suggests of, but it could really help people in their battle with this less severe variant, so positive news and obviously the market very much like that. The s p 500 up 0.26 percent. I still think it's heading to right. Above 470, the nasdaq 100, the tech heavy sector right below 400..

I've been calling out that key psychological level. Today we hit 399.82 so off by 18 cents there. I still think it wants to test exactly 400 and see what the supply and demand is doing there and finally, with the russell 2000 we're seeing strength, i want to see get above 226 and i would love to see it test. This gap fill at 228.50 also aligning with this trendline, so this week, thus far has been pretty bullish kind of aligning with seasonals all three of these major indices that we track do have gaps below.

So we have to be a little careful about that, but with seasonality and some of the external pressures, i guess somewhat being mitigated. I think overall there's a good reason to be a little bit more bullishly biased. Now, let's move on to some individual equities and i want to start with gamestop gme right now, trading at 173. Today, i didn't think it really much mattered its action because we just had its earnings announcement.

Just got done listening to it and obviously, as you can see, the market thus far not really reacting the most positively to those earnings. So here's the key takeaways gamestop shares fall as video game retail reports. Widening losses in third quarter here are the highlights. Gamestop shares fell after the company reported that losses widen in the physical third quarter, which just was reported.

The video games, retailers, net loss, grew to 105.4 million or about a dollar 39 per share from a loss of 18.8 million or 29 cents per share a year. Earlier expectations were in the realm of 50 to 55 cents of a loss, so this is definitely a wider than expected loss. Obviously, people not liking that total revenue grew to 1.3 billion from 1 billion a year earlier. I like this.

The revenue is actually pretty solid. Inventories grew in the latest quarter as gamestop look to get ahead of supply chain challenges and be well stocked for holidays. I like this smart, smart, smart now, here's some commentary that i think some people are kind of focusing on of beyond just those numbers. So matthew, furlong is the ceo and he had this commentary along with its core business.

He said that video game retailer is exploring emerging opportunities, including blockchain nfts and web 3.0. Now i like this, but they didn't give us much information. I truly think that gamestop forever will be changed as a like as a business when it pivots into that world of an nft marketplace, blockchain web point 3.0. I think it will be able to execute phenomenally.

Obviously this will take time. I'm not saying that this is going to be announced tomorrow and they're going to light the world on tomorrow on fire tomorrow, it's going to take time, but it was even this. It's like, i guess, give the crowd something to be excited about uh. I was hoping to hear anything about loop ring and its connection to that, and at least for this particular announcement we really didn't get too much of a development.

Continuing on focus on the long term means we will continuously prioritize growth and market leadership over short-term margins. So i like this commentary of like they're playing the long game, so that made me feel a little bit more comfortable. Obviously it is down, but for me i'm holding because i i really want to see what the company can do in the world of crypto. Specifically, this nft marketplace now a little bit of just update.

Yes, the shorts have been increasing recently on gme. The estimated short interest is currently 12.33 with the utilization of 31 and shares on loan of 7.16 million. Now, let's go to the other moon stock that a lot of people are talking about. Amc amc had a great day.

It was up 4.22 closed out the day at 32. The fact that we closed above 31.25 ish - that's a nice technical breakout on some decent volume. We traded above the 10-day average 46 versus that average of 42-43, so a little bit stronger volume we're coming off of this burlish divergence, and i would love to see this test today. I was calling out 35 and that's still what i'm watching next, because halfway in between this region of resistance, 3450 35.50, i'm just looking at 35, but that's roughly estimating this region of resistance would love to see how amc reacts to that.

In terms of these short interest numbers, the short interest continuing to go up 19.14 on a utilization of 77 in shares on loan of 103 million. So that's your quick, more in-depth update of gme and your quick update of amc um. I want to see how the market really reacts to gme when it opens up tomorrow on thursday december 9th and for amc. I want to see if the continuation of this momentum, i want to see how far can continue and how excited it can get people now.

Moving on to the final thing is, i myself have been on my own journey of crypto here, learning more and more every day, and recently i've been getting so many questions about some of these dow projects and i think it started because i was talking about constitution. Dow and then after that, with ken griffin buying it um more and more people have been bringing up things, and i started looking into it more and the things i want to leave you with here is when i looked into it olympus dow, apparently somehow you can Get an apy of 7172 and i was like whoa, that's crazy and i'm definitely one of these people that if it sounds too good to be true, it probably is, and then people were telling me they're, like hey, hold your beer check. This out. Wonderland apparently has an api of 75 000.

Once again, i want to strongly iterate when things like this sound this good. It typically is, but let's be fair, i've learned about these things within the past 12 past 24 hours. So i have a lot of learning to do. I'm not saying this is good.

I'm not saying this is bad. I'm saying before you send spend a cent of your money. Definitely do some research definitely do some td with that being said, i'm about to dive a little bit more hardcore into both of these projects, and i would love to get your thoughts olympus wonderland. Are they complete scams? Are they like there's no way? This is real, or is it something that people should seriously consider? I would love to know if you've been engaging in either of these projects yourself? Are you making good money? Have you lost money? Is there something that is like the world needs to know, and i'm completely just missing out on i'm just starting my journey and i would love any of your commentary, opinions or even your resources.

So i can share that with the rest of the community and now with all that being said, i'd love to get your thoughts on both of these projects, amc, gme, the overall market crypto. Let me know your thoughts of what's going on in the market right now, because i personally feel, like things are starting to bounce back, and i would love love love to get your opinion on what in the hell is happening on twitter and anti-tracker, and a little Bit of big tech censorship, in my opinion. Well until i catch you next time for me and share best of luck in the markets, you.