So mum, hello, hello, hello, hello, welcome to the power hour session for today, thursday march 3rd, and this ain't no normal thursday march 3rd. This is a very, very special march 3rd. If you are free tonight, remember 9 00 p.m. Et, we will be on a twitter space call with the man the myth, the legend jon stewart dave, lauer, j brown, danny moses, myself and other guests, such as lisa branganza, talking about market market structure, market loopholes, wall street and kind of the bs that they pull Off day in and day out, that is at 9 00 pm et it will be a twitter space call.

So if you have the free time tonight, definitely be there or be square. That's going to be exciting. Today is also a very special day. For another reason, it actually marks my two year anniversary on the interwebs my first year.

I was trying to make some content and it's super cringeworthy. Let's be honest: if you go back to anything from my early days, man, oh man, if you're feeling down watch that it'll make you on a relative basis, feel better than yourself and to commemorate this event, i wanted to, i guess, make a video here about. I guess some of the biggest things i've learned more so in the latter half in the most recent year - and these are just my own opinions - i'm no financial advisor, but i wanted to share my thoughts on. Maybe maybe this will be a video that you could share it with someone of what are the apes fighting for? What should the apes be fighting for? What's going on and a lot of this stuff, it gets fairly complex and obviously, when you pull on a thread, it could always lead to many many other things, but i wanted to sum it up in two specific things.

As many of you know, i have a passion for the markets and i would love to make the stock market more transparent, more equitable, more fair. I want it to be a level playing field and i think there are many things that can be done, but if i were to make a list of two, if i had a magic wand - and i could just wave it and fix those two things, this is What would be on that list number one? I would fix the extreme amount of off exchange trading using amc and gme as an example. They pretty much do represent almost every major equity that you're going to know about right now, over 50 50 on a daily basis. On average is not executed on a lit exchange.

Think of the new york stock exchange, the nasdaq iex, it's not being done there. No, it's just not it's off exchange. There are two types of off exchange trading and the major one are retail wholesalers such as citadel securities or virtu, and a portion of that the other one ats alternative trading system, aka a dark pool over 50 percent of almost every major equity is not traded on A lid exchange, which has more transparency, we're in this world, where you have off exchange trading, is looking inside they're looking inside on the bubble, they're on the outside they're, looking at the price of what's going on there and then they're executing it and not really a Secondary market, but for more of a metaphor, i think that's the easiest way to think of it. They're, like hey equity xyz, is trading out this price.

Okay, we have our own market going on and we're going to base it on that. This hampers price discovery. This you don't have to take my word for it. I know i'm just a person yelling at a camera.

You can take the president, the ex-president of the new york stock exchange, stacey cunningham. You can also take various academic papers. Who've said yeah. This is going on and it's not a good thing.

Why is it not a good thing? That is a great question. What it's doing beyond really, i guess, increasing the fragility of the overall market, because all this off exchange trading is basically facilitated by one of two main players: citadel securities and virtue when you have that much power concentration in so minimal players. That is not good. So when really things hit the fan we're relying on them to keep it going.

One of them citadel was bragging that when gamestop went haywire in january of 2021, they were the only one that continuously provided liquidity. That's not good! If our fail-safe is one for-profit company, that is not a good scenario. Some people will disagree with this. Other people will disagree.

I wholeheartedly believe our market, our entire market system, was almost brought to its knees by one video game selling company gamestop. That is not good. That is not a robust system beyond the fact that it's not a robust system. You also have to talk about how this is being done.

Why are they executing so much traits it's because of robin hood? It's because of weibo it's because of payment for order flow. Also known as pfoff, what it is is basically your orders as you're executing whether you're trying to buy yourself from these brokers that order flow payment for order flow is being sold right to citadel right to virtue, and unless they don't want to take the trade. They are executing it. There is a scenario in where they could kick it off to a dark pool or to a lit exchange that rarely really happens if you're buying they're selling to you.

If you're selling they're buying off you, you are not getting into a lid exchange, you are not getting normal price discovery. You are not getting an efficient execution. Gary gensler, the sec chairman himself, said in may of 2021. Robin hood explicitly went out of its way to accept higher payment for order flow in return for worse quality execution for its clients.

In fact, he even continued by saying it was so bad in some circumstances that it would have been better to be on a commission brokerage. That's how bad it's getting! What this system is doing, this commissionless brokerage, where they're all going to citadel all going to virtue. It's successfully excuse me segments the entire retail trading public away from lit exchanges, so you have retail here and then all of a sudden, you just have a super, highly competitive players on lit exchanges, and what this does is to make that market. The market makers have to widen the bid and ask spread the nbbo national best bid and offer this.

There are some estimates that, because retail has been successfully segmented, it spreads the bid by 20. Some people say 25. This costs etfs pension funds, billions and billions of dollars over the course of a year because they are playing in a system where the spreads are wider. The competition is all on lit exchanges.

Retail is successfully off of it, you're not getting quality execution and it really all comes from the very convoluted complex system of payment for order flow. Inducements incentives, rebates, it's all this stuff that is already outlawed in so many countries, canada, uk australia. They don't allow for this stuff. This isn't something that, like okay, like we're leading the edge on it, we are the last ones to the party on fixing something that is clearly a conflict of interest.

Obviously, a conflict of interest and if you want to get into some specifics that are related to this of other things that we can fix, fails to deliver. Basically, either someone didn't have the stock or someone didn't have the cash those reports. They are very, very opaque. We don't get any useful information and even the little tidbit the morsel, the miniscule amount of information we do get from it.

We get it late. The reporting is super slow and it's not really useful. It's not detailed in any manner, and then you could also talk about how they're, taking advantage and they're pulling this off through the settlement cycle. We used to be on a five-day settlement cycle.

Then we were on a three-day settlement cycle, we're currently on a two-day settlement cycle, and this one isn't the hottest topic to really fight, because there are a fair amount of people like yeah. We need to get this like even lower. It just makes more sense, but they're, taking advantage of that multiple day window to do some of these egregious egregious things, and that leads to particular events of like when it all culminates. That's when we're seeing the buy button getting taken away from us when we're literally being like those profits were stolen.

No one will ever change my mind that the buy button removal was just new age brokerage theft. No one will ever ever switch my mind on that. One because that's exactly what it was in any other scenario, if you didn't have fancy wall street people and highly paid politicians and connecting all the dots. Without that scenario, people would end up in jail for this, but because of the way it happened and the people involved in it, no one bats, an eye, that's crazy, and that brings me to major issue number two.

The political involvement in wall street is beyond disheartening. It is downright disgusting. There is an egregious abuse of power that leads to what i would say and remember i'm not a lawyer. I don't speak legalese, but i would my opinion is that it is insider trading using knowledge from your position to make really bets on the financial markets and you're benefiting off that to me, that is insider trading, which is egregious and right now they're talking about it And you see some politicians switching their mind, but they're only doing it to really appease the constituents after they saw the polls of how many people that they're pissing off so that just shows how much of a backbone they don't have anyway, because they're, fickle and they're.

Just looking at polls and they're like well, i should do or say this because that's how i'm going to get reelected, because i wouldn't want this gravy train to really leave but beyond it. I would take it a step further. We live in a time where it's a borderline political necessity, and this relates to not only politicians who are going to be voting on our taxes, but also the federal reserve, who decides our monetary policy. It's become a borderline political necessity to keep your office to keep your position by keeping the market going higher and higher and higher and higher.

This has led to so so many problems, the most recent one being the fact that we're at a staring right in the face a four decade, high level of inflation - and you want to know the kicker to that of how this is all intertwined with politicians. Being the scumbags that they are and everyone else in between is, are you getting paid? More? Are labor payments going up? Technically they are, but unfortunately they are not going up at the same rate relative to inflation, as in the value you're getting even though you're technically getting paid slightly more, it's really a net loss. This is not some fictitious feeling that you're having out of nowhere that it feels like you, are digging yourself in a whole, deeper and deeper and deeper. This is what this system is, and it would take a lot of convincing from someone with a far bigger brain than myself to really explain it to me how it's not initially designed that way.

I strongly believe that's what this system was meant to do. Wall street was there to nickel and dime everyone in a complex plumbing system, and then no one's even allowed to kind of point the finger out and be like. Should we fix this because the people who can fix it they want that overall system to continue to go, because not on top of the fact that they're making money, which is clear but look at who's donating we're in a world where wall street donates to congress? That's how they get elected then they're gon na always be helping out their wall street cronies, and on top of it the watchdogs, the sec. Guess who pays the sec it's congress? Are we really expecting the sec to bite the hand that feeds them and then so wall street is paying congress? Congress pays the sec and then we're expecting the sec to do something about the people who are funding it or directly the people who are paying them.

This is a triangle from hell that does not make sense. So, overall, that's what i feel right here. First, two things: i would fix the extreme amount of off exchange trading, which leads to inducements incentives, payment for order flow, failed to deliver reporting all that good stuff settlement cycle and then also on more of a general level. The interconnection between politics, wall, street and congress.

It has to go because the weight set up right now we have borderline zero trust. I don't even know why we're saying borderline, because no one is waking up and saying man, i'm so happy. I can trust the government i'm so happy. I can trust wall street literally.

Not a person on this planet is waking up day over day and saying that, because it's not true, we have no trust. So are there many other things that have to be fixed in the current system? 100? But i'm saying these two particular things would be an amazing step in the right direction and i just figured i'd share those two with all of you, because it is the two-year anniversary. Now, maybe you agree with these opinions? Maybe you don't, but i would love to get your thoughts in a comment below, because i always learn so much from all of you who end up watching these videos. Thank you, and now with all that, with my rant over, i want to look at the market and we called out 434 early today.

Actually, i want to know your opinions. Let me bring up this chat. What else do we have? Is he gon na run for office? I don't even think i'm old enough to run for office. I could barely.

I don't even think i can legally manage a chuck e cheese at this age. President. President 2024, no folks, i they don't they're, not even going to give me a chuck e cheese. I just wanted to get that rant off it's just it's just so wild and yeah.

I will do an extended version of send rant. I don't know if i will or won't, but i'm going to be talking about some of it with jon stewart today, just a little chucky cheese in the corner, uh the market is getting hit just to give you an update about the fed, nothing too crazy, new Uh from the senate meeting relative to the house meeting remember powell, he spoke with the senate. Today. Nothing crazy was unearthed um, i would say um we're still going with the fact that there's going to be a 25 bips rate hike in march, that's successfully priced in now.

I would say there they did have the second talk. Uh, like i guess, diplomats or representatives from both russia and ukraine, they spoke today and apparently they're going to have a third talk early next week, um. So, hopefully some developments there um were like there's just absurd volatility in all markets. If you're looking at equities market.

If you're, looking at the crypto market, we're just seeing a continuation in just absurd volatility, massive swings huge, huge gyrations, and, with that remember that means for you, don't use an excessive amount of leverage. Keep your trades small, because the ranges that we're seeing are wild. Look at this, we went from 441. This is how the market, the overall u.s market, did today we dropped one point, four percent.

Remember one percent: that's a lot! That's gon na be roughly half a trillion dollars, maybe even more, and then we popped more. So we dropped one and a half or whatever it was. Then we shot up 1.6 and then from shooting up 1.6. We have now dropped an additional 0.9, no one more than that 1.2.

That's absurd volatility. That is absurd uh. So you got to be careful and environments, oh speaking of which hang on. If you took the i'm still in the duac, call that one's unfortunately down but the spy credit spread.

The put credit spread, i believe, yeah we sold the 423 by 422 uh betting on the market, saying above 423 that one is currently up: 70 percent uh - i might just lock it in - or i might just let it ride till tomorrow and take the expiration tomorrow. I might just take the full profits on that. I will keep you updated in on the locals page toronto for congress. Owning and operating a chuck e cheese should be a prerequisite to being elected.

President hey, i mean all i'll. Do that uh kinky kong, damn it! I miss a rant gon na have to rewatch kinky kong. If you want, i could just clip it. Those are the first things.

First, two things: i would start with thoughts on cyber attacks on the u.s banks, uh, i'm sure they'll attempt to try, especially because we continue to increase uh sanctions um. So i wouldn't be surprised if they try to go that way. Organize and lobby internet chat does nothing. Yes, i 100 agree, and there are some.

This john stewart thing is the start of another big push. There are many many people who uh what they choose to do, what they enjoy to do where they found their niche is more so in cheerleading, it's more so in hype, it's more so in keeping the party going, and i think that's fine. It's just not me. I'm not good at it.

That's not my personality. I i i always get caught up in facts and numbers. It's just it's who i am it's, how i've always been and i'm not going to be able to change that. I'm not the party guy.

I am not the hype guy um do. I think that is an important aspect, especially to an internet community. Without a doubt, i'm not bashing on it. I'm just saying that is not my skill set.

My skill set is diving into the facts. It's diving into the numbers. My skill set is arguing with people until i'm blue in the face, and they understand how up the current system is. This next wave is really what i'm excited about, because it's going to be those types of skills that are necessary.

Like you said you don't get new rules, you don't get new laws, you don't get new regulations from making a good point streaming on, making a video or something on twitter or reddit. You have to talk to politicians. You have to talk to regulators, you have to get the right people on your side. It's a very, very brutal chess match, but that's just where my skill set is that's just what i'm better at at least on a relative basis.

Are there going to be people who are far more just arbitrarily liked? I mean yeah cool, that's awesome! It's just just not me um, not me whatsoever. So i'm very excited this john stewart thing and also the hbo documentary that just came out about gamestop and then jon stewart episode on apple tv that was released. They were both just came out today. They um they are marking like a new chapter in this movement and it's an exciting chapter and i've been using the metaphor we're going from t-ball to the major leagues.

This is all of a sudden, we're and there's gon na be most likely in the short term. There's gon na be days where we need all of you all of you. Listening to we're gon na be relying on you, because the magnitude of people who are supportive of our position is huge. It is immense, and it is very, very hard for any rule maker lawmaker politician to not listen to us when there's so many people, speaking astutely, technically accurate and bringing up good points about the exact same thing.

They're gon na have no choice but to listen to us and give us serious consideration and when they do the facts on our are on our side, which makes me so absurdly excited and optimistic for what this next chapter, beholds pete pete two day head and shoulders Is that a thing yeah, you can spot head and shoulders on any time frame. Matt you manage a texas roadhouse and not a chuck e cheese. That's actually the big announcement i have for all of you, um, i being a leading business. Person of our time have decided to combine the chuck e cheese experience with the texas roadhouse experience.

This will be the texas road cheese establishment, matt coors. I am very, very excited about this new business venture, the texas road, the texas road cheese hut, it'll work. I don't know i feel, like the name needs. A little bit of work sounds absolutely vile.

That's exactly why we'll get patrons everyone's gon na be like man. This place is so bad. You just have to see it. Texas road cheese has a ring to it.

Courage, cheese, road house matt: will you ban ice shanties when you run for office? Of course it's in the data man, you have to uh, maybe a dumb question: when supply goes up or down, does it move the market or is the market moving this buy? So remember what the spy is. The spy is, an etf, an exchange, traded fund. Think of it as a basket of stocks. Um.

Yes, you can buy. You can invest in the spy. You can go long in the spot. You can go short on the spy like that particular asset, but think about what it is.

It's 500 underlying things, so really there's going to be people who are looking at those 500 things and understanding based on their weight if it's going up or down making those moves. So i, in a weird way, your answer is halfway in the middle of that that's a very good answer, but like there is a scenario it's not, there is a scenario in which you could just everyone just is buying the spy, but then even that the people Who make the spy they're gon na end up buying those individual things because remember? Someone is literally like managing the s p 500 and as money flows in or out they're making the appropriate movements within the individual equities. All of a sudden, if the spy is going up, they're going to be buying the stock to like keep the etf the way it should be, that is the mess matt nice rant, love it while i'm getting some cavities filled. Oh good luck with that mikey.

Little fact about me: i don't think i've been to a dentist in like a year and a half which is not good, but i do care a lot about oral care. I brush my teeth and floss and do all that so i'm like i'm kind of my own dentist. You know, i really don't want to go to another dentist, because i found the best dentist in the world in northern virginia and ever since i left there and then we were hit with a pandemic. I just don't want to see another one, because no one's going to be as good as him.

He was just i in a weird way. I feel like i'm almost like cheating on him. So that's my real reason for not seeing one. I just i'm never going to find a dentist as good alexandria, uh.

It was in falls church. If you don't have sensitive moments: cold, water, you're, fine! I don't i'm good uh proper hygiene stage. You should have your teeth clean once a year sounds like you're, paid off by the by big hygiene sounds like you're, a big you're you're, a hygiene chill a a just, had a failed tweet bad date. Huh hey a had a failed tweet.

You have time to look at twitter patch, uh hang on 12 minutes ago. I'm so proud of warner, bros batman, the biggest movie event of 2021. So far i see what you mean should be 2022. screenings today, amc all around us.

No, it's not a movie about baseball. This is robert pattinson starring in a timeless saga of the calf, crusader and gotham city, audience score rotten tomatoes audience score of. Does anyone ever actually look at the critics score? And i already know the there's: that's a data point that i think is the most useless data point on this planet is the critic score on rotten tomatoes and they always use that as the homepage, one like they're, forcing us all to click into it, because we All just clearly care about. We all all of us clearly care about the audience score, no one's going to trust a bunch of critics.

Usually it's honestly inverse like if the critics go low, i'll, probably like it, and if the critics go high, i'll, probably dislike it. Invisible hygiene squeezing coming predictions for tomorrow, um i would have to do a little bit more review, but if 434 doesn't hold i'd, be leaning bearish on the overall market, but i'd have to dive into uh what the big money movement was doing here at the end Of the day, dwack, getting some form of a pop dwack is crazy. Volatile lately, too matt about to go all in on 7 15 500 calls and take a vacation again, i'm going bald jeffrey if you end up doing that. I hope you crush it, but i would follow up and ask you: how did you end up picking, i guess the bullish direction like? Why not you said 500? Why not like 350.

frog industry? The casino is closed. That is it that is it for the day. 4 p.m, thursday march 3rd, if you haven't already make sure you're checking out the the problem with jon stewart talks about the stonk market, and then we will be having a twitter space call about it at 9. 00 p.m, et 9 p.m.

Et, i will be there with jon stewart dave, lauer, jay brown, danny moses, lisa, braganza, there's gon na be a whole host of us. It'll be a great great conversation. Also the hbo talk about gamestop came out. A lot of this will be talking about the extreme amount of off exchange trading, which, if you didn't catch my chance, my rant at the start.

It's at the start so make sure you are. But if you want to help avoid off exchange training check out. What's pinned to the top of chat, if you are in the us, there's no reason to be on robin hood: there's no reason to be on weevil now that we know what we know like this is information. That's really been coming out over the past year, get on something like public.

If you don't want to use public, go on something like uh, where you you just need to be able to directly route your trades public, you don't, but we already know that they're not using payment for overflow they're, not using market makers and uh. They are not paid like they're, transparent about it. You could check their blog post, but no rebates incentives, anything along those lines. So that's something at least so worth to look into the margin.

As angley is priced in a life-ending asteroid. I think we might be a little bit lower a little bit lower. I don't know this is we'll play it a day by day, day by day and even d-wax up in pre-market right now, it's going to be exciting, but folks, i need to prep up for the panel later this evening and get some dinner myself. So that is the plan.

I hope to find you in the twitter space call later on today. Uh we'll be posting some content on the crypto channel on this, and also for all you folks over there on rumble i'm trying to think of anything else. I don't know, i'm just excited, i'm very, very excited about this new chapter absurdly excited, because i think we can affect some real change. Maybe i'm being in a bit optimistic or maybe we are spot on and the current powers to be should be quivering in their gucci boots um.

I do appreciate all your good vibes. Thank you. Thank you. Thank you all that stuff.

It's in the description of the video i will catch you later and obviously from chair myself, best of luck in the markets, i'll catch you tomorrow, you.