Time For Market Consolidation (Stock Market Open)
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#Stocks #DumbMoney #MoonGang
Please be sure to LIKE, SUBSCRIBE, and turn on them NOTIFICATIONS.
Let me know in the comments if there is anything I can improve on moving forward.
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RISK WARNING: Trading involves HIGH RISK and YOU CAN LOSE a lot of money. Do not risk any money you cannot afford to lose. Trading is not suitable for all investors. We are not registered investment advisors. We do not provide trading or investment advice. We provide research and education through the issuance of statistical information containing no expression of opinion as to the investment merits of a particular security. Information contained herein should not be considered a solicitation to buy or sell any security or engage in a particular investment strategy. Past performance is not necessarily indicative of future results.
Links above include affiliate commission or referrals. I'm part of an affiliate network and I receive compensation from partnering websites. The video is accurate as of the posting date but may not be accurate in the future.
DISCLOSURE:
I have a beneficial long position in the shares of AMC & GME either through stock ownership, options, or other derivatives.
Do do do do do amigos, i hope you're having a fantastic thursday morning afternoon evening night. Whatever time it is for you, i hope, you're having an absolutely great one. But yes, it is thursday march 24th and the market is about to go ding ding ding ding. In about 30 minutes - and it could be an interesting day - i know the past two days have been very, very green.
There have been many equities and crypto and futures that have been in rip city and that's kind of what i mean by the title of this particular stream. This particular video of i wonder if it's time for consolidation and i'll be speaking more about that of how i actually think it could be healthy if we create a higher foundation kind of almost like building up scaffolding to make the next move to the upside. A bit more sustainable and we're definitely going to be looking at that through the lens of amc and jimmy, but before we get there, i want to talk about the spy it has been pinned to the 200-day moving average around 446. above it i'm bullish below it.
I'm bearish, it's honestly that simple we're going to talk a little about some of these other stocks that have been moving, impp moved quite a bit yesterday, we'll be breaking down. What happened there? If you didn't catch, my update, video i'll, give you the numbers there and before that we're going to be diving into what in the world is going on on the global scale, not only with u.s politics, but obviously we still have this situation over in ukraine. So we're going to be talking all about that just so, we feel a little bit more comfortable about what in the world could potentially happen in the old stock market. Today, before we get into that, if you haven't been looking at crypto lately, it is absolutely ripping, and a lot of major cryptos are coming to massive breakout levels, which brings me to today's stream sponsor shout out to ftx.
They have two different platforms: a phone app referred to as block folio and an online pro platform equivalent to coinbase pro. So the pro platform, which is in the description you sign up and has very very cheap transaction fees compared to their competitors and then, when you're. Looking at block folio, not only can you connect all of your crypto accounts and see what your crypto net worth is. Every time you trade over ten dollars worth of crypto, you get a free coin, definitely checking out uh.
Their ecosystem is expanding like crazy. Definitely a worthwhile crypto exchange to have, and with all that being said, here's a quick look at what's going on in some of our favorite stocks. Like i said, the spy pin to 446 imp had a huge run yesterday when they completed their 60 million dollar. Offering amc gme down a little bit in pre-market, but does that really bother me well? The answer is no.
For two reasons: i don't really care about pre or post market, it's fun to watch, but it's low volume, there's no national best bid or offer. So you see extra volatility uh to me what matters is between 9 30 and 4, especially if you're an option trader. You really don't care about anything outside of that time frame, but on top of it, i'm not going to focus on a little bit of redness or even really greenness in the pre-market or the post market. I care about what's happening in the actual day and then, for example, if you're looking at amc and jamie right now, there's really no reason to be a little bit like, let's say, have a negative emotion: amc currently down 2.5 percent gme, currently down five percent in Pre-Market trading like look at what happened over the past two days like they're still massively up so understand. This is don't get caught up in uh the minutia of, like, i should say the vagueries of a small time frame movement. Look at! What's going on on more of the daily chart take in the bigger picture, especially if you're more of um - let's say at this point a longer term diamond handed holder, so that's a little preview of what we will be talking about and let's get into the overall Market, the dow, the s p and the nasdaq are all green 0.4.5.6 oils down a little bit, but it's still cruising at 115.. We have to talk about oil because it is very intimately related to the likes of imp. Uso oxy, all those other ones, a2sa t-u-s-k c-e-i, all of them are going to be tied to what in the world is going on with black gold and 115 is a very important technical level.
I think if oil gets above 115 and holds it'll, be a quick shoot straight to 120 and then after that i'll be watching 126.. So that's a little bit of a just how we're looking in the futures market right now. Let's talk about some of this u.s futures rise ahead of key ukrainian summits, while surging oil and fed's inflation, inflation, inflation signal make nervous trading, it's kind of funny that, yes, it is nervous trading, but look at what the spy's been doing. We actually got a technical breakout.
We came up to the 200-day one two three four five, six green days in a row um some people will refer to this as a bear market rally, just because there's so many unknowns right now. So last week we had the first rate hike ever since december of 2018 and then after it they made us feel pretty comfortable as in they're not going to go too hard hawkish last week, and then this week, not only powell and his various panels and discussions. But also other fed members such as bullard have been like 0.5.5.5, and, if you don't know what i'm referring to there they're basically saying we need to raise interest rates more aggressively at a faster pace in order to successfully battle what in the world is going on. With inflation, which right now we're at 7.9 percent, a four-decade high on top of it.
Yes, there are many global leaders this at the end of this week, who will be meeting for various summits, important stuff. Those are the types of headlines that can clearly have an impact on the market, so we have to stay a little bit on our toes because we're in a scenario right now, where it's a little bit tied to fundamentals, it's a little bit tied to technicals. But it's most closely associated with what are the big headlines: u.s stock futures traded higher thursday with investors focus on key meetings between g7 and eu leaders. Eu sanctions on russia's energy exports may join other imminent measures, and that is driving up oil and gas bond yields. Much higher after tough talks on inflation from the federal reserve, so, yes, we have to pay attention. What's going on in the commodities market, we have to pay attention to inflation. We have to pay attention to potentially the 10 and the two-year yield inverting, which they are getting very very close. So there's a lot of things on the macro backdrop that we should be paying attention to now, a little bit more specific to ukraine.
Zielinski told russian people to leave russia if they can to deprive putin of tax money for the war. So just another thing that, yes, the financial situation, the financial implications, the financial sanctions on russia are getting more and more steep, and this is another thing that obviously, if the country doesn't have more tax money, that's like further hurting the overall economic situation in russia. Ukraine's president urged russians who can leave russia to do so over the invasion of ukraine. If you can leave russia so as not to give your taxes to the war, do it.
On top of that, personally, i would want to get out of there just because the local currency, the ruble, is borderline defunct. That also reminds me that the russian stock market is actually doing a little bit of a soft opening, or it did a soft opening um. So we're not fully in the like complete close anymore uh. We can look at the omex really quick.
This is the russian market all right here, moek's the russian index. As you can see, there was actually a little bit of action now uh. So, there's a lot of predictions that this will absolutely crater, maybe a thing that you might particularly be interested in. I personally have no capability of getting access, like none of my brokerages have the ability to trade it so i'll watch it just because it's important to see what's going on uh.
But it's it'll be interesting to see the reopening of how the world and really, i guess, local citizens to russia - are going to react because, as i believe it right now, foreign traders aren't allowed to do anything. Nato official estimates that 40 000 russian troops have been captured, injured or killed. This is an update on something that we saw yesterday. A pro-kremlin media source put up an article saying that russia had lost 10 000 troops and it was almost immediately taken down and now the nato, i guess, data team officials, whatever you want to call.
It is following up once again today saying actually 40 000 captured, injured or killed. Nato estimates that 40 000 have been captured, injured or killed, and anonymous. Nato officials said between 7 000 and 15 000. Russian troops have died, kind of reminding us of what the kremlin pro kremlin media was saying. Yesterday, uh pro kremlin tabloid this week ran a report of ten thousand uh, so we're seeing various sources all come in roughly at that number, which is leading me to believe that, it's probably in the realm of accuracy, u.s fines. Russian troops have committed war crimes in ukraine, so this is kind of a big. Maybe maybe it's just a legal jargon thing and maybe there will be further implications of it, but like even last week, that was a big thing of like okay. Will this be declared as war crimes? Yes or no - and it looks like the u.s followed through and said yes on the obviously the atrocities that have been playing out uh speaking of another atrocity, and i'm saying this a little bit more tongue-in-cheek.
This is just nuts nancy pelosi's husband just bought 2.2 million worth of tesla. Now you might be thinking: okay, tesla's, a good stock like what's wrong with rich people buying a shitload of tesla, and there is nothing wrong with that. But let's let's look at the timeline and some of this stuff, paul pelosi purchased 2.2 million worth of tesla stock. Earlier this month he invested 2.9 million across stocks of several companies.
Congress is debating whether to ban lawmakers or their spouses from trading socks. There's a very, very good chance that they're, just like not going to they're gon na, be like hey like we discussed it, we're politicians uh as of now, until there's more of a big, i guess constituent push back against them trading. I don't think we're going to get much leeway, but let me point out the timing to you here: he purchased nearly 2.2 million worth of tesla stuck on march 17th, so it is thursday march 24th right now, the 17th with perfectly a week ago. Last thursday, this timing is absurdly good from last thursday.
Until now you got to see not only what tesla has done check this out. This is just mind-blowing. He got in on the 17th as in up already 20 okay, you might be like well. No, maybe that's just really good.
Look at the news. Not only is he up 20 on the 2.2 million, which is 400 grand in a week, but look at the timing of this. This was two days ago. Elon musk breaks out the dance moves, as he hopes new tesla factory in opens.
New tesla factory in germany. Excuse me so obviously, they're gon na have a massive capacity there. This giga berlin factory, it's gon na, be huge to tesla as a company. So that's one piece of news and you're like well hang on.
I don't really see the connection there. Maybe that's just look. Look at what just was announced. Hertz adds tesla model y to its ev fleet. I don't know this. This is this insider training. I don't know i don't know what information he has, but the fact that you're making 20 in one week when there's two major announcements - and i would actually say 2.5 because there were some patents - that tesla also got within one week. That timing is so stupidly impeccable.
That is the that's such good. Look at what tesla has done. I feel like a crazy person he got in on the 17th around let's say: 830 840, something like that, we're still below the 200-day moving average we're still in the downtrend he's like nah. This is the time for me to bet 2.2 million when at that point, this is what he saw on the chart.
He did not see this rip. We were still in this downtrend right here and he's like. I think we might get the breakout and then all it did was rip with two huge announcements. Technically, three huge announcements.
I can't say it's insider training, but it is. It is so crazy that timing wild, absolutely impeccable in timing. Moving on to other crazy stories, wall street bonuses hit a record high of 257 000 per worker last year per worker. That's the bonuses, we're not even talking about whatever their salary is, which i'm assuming is less, but still that's their bonuses.
That's an average wall street securities employees received 257 000 per worker in bonuses last year. The bumper bonuses was a 20 jump over the previous record. High of 2020., the securities industry accounted for 18 of state tax collections in the 2021 fiscal year. That is a quarter mill in bonuses, man, oh man, potentially even more nuts goldman sachs.
Ceo david solomon is playing la la palooza alongside dualipa dojicat and machine gun kelly. The ceo's name was spotted on the festival lineup along dual alipa kyga, kygo and dojicap. The music festival is currently slated to take place july 28th to the 31st uh right here, david solomon. I guess obviously - and this is not really a big secret, like it's kind of been like actively discussed - that he, like legitimately moonlights as a dj, the like we're talking about a multi-multi-millionaire.
The ceo of goldman sachs is djing and, like he's been doing it for years, and i've like heard stories like this before, but he's now made it to the level of la la palooza. All i can think about is like i just have this crazy thought of he's like backstage with machine gun kelly. How does that conversation go like what would be said between the goldman sachs, ceo and the machine gun kelly, a rapper or a punk rock guy turned rapper going back to punk rock after he got into a fight with eminem like what i just i to be A fly on the wall in that background between david solomon and probably anyone on this list it would, it would have to be nuts like it would be crazy. Actually, really this morning is a morning of crazy stories.
An alleged fraud uncovered by a short seller ends in gunfire. You could read this as posted on the wall street journal. Just so you know it is like pretty graphic they're like explaining this entire standoff, which is just nuts but check this out. The strategy promoted by mr judd, which was the guy who was in a standoff with fbi and ended in gunfire uh in vegas, was the most obvious ponzi scheme. We've ever seen said nate anderson, founder of the investment firm that investigated it in a notice seeking out victims of the alleged fraud. The fbi also called it a ponzi scheme. Ponzi schemes are investment frauds where early investors are paid with funds raised from late investors. The money raised is generally not invested and that's pretty much.
What happened i mean right here. Fbi standoff with lawyer is climax's hidden citizen sting operation in a rented private jet. It really is just like in a truly truly wild story, but basically they were like pitching a zero risk. High return investment opportunity which, like literally, if you had to define a ponzi scheme, you're like yeah, that's probably a telltale sign of it but uh it yeah.
Wild wild story - and this was just breaking yesterday and then finally, cisco. The five things to know before the stock market opens today, thursday march 24th stock free stock futures rebound after the dow's worst session. In weeks, data on jobless claims durable goods order out before the bell bought in world leaders open trio of summits on russia's ukraine invasion. Next stop on biden's trip is poland to address ukraine's refugee crisis.
Poland alone has already accepted over a million refugees from ukraine. Blackrock ceo says: russia's war has ended decades of globalization, so that's very and also we still have the senate hearing for the supreme court uh. Ms jackson, there just so you know um, but now, let's take a look at some of these charts, maybe get a little bit of a better idea of what we should be watching so right now the s p 500 in pre-market trading is at 446, which is Basically, the 200-day moving average we're actually pretty much smack dab at it. Honestly, for me it's this simple: if we hold it in the short term, i'm bullish, if we break below it in the short term, i'm bearish yesterday, we did break below it after what a six day green streak.
So that is a fair argument for some sort of retraction. Does it have to happen? Absolutely not. Maybe it just comes to 441. This previous resistance has some level of support and we bounce right off of that.
Maybe it comes down and it completely craters, or maybe we don't even touch it because we're seeing some strength in the pre-market and we break above 448.40 and we start to rip even more. But what it really comes down to the line in the sand is. Are we or aren't we holding 446 and then you can just generically apply that to also what's happening in the queues and the russell? They look very very similar. If you are paying attention to amc, particularly, you got to pay attention to iwm. That is the small cap sector and amc happens to be the biggest equity within iwm. Let's take a look at the spy short interest of 18 costs to borrow very, very minuscule if we take a look at the queues, a short interest of 14.5 same thing, with the cost to borrow and in terms of the small cap sector, a short interest of 37 with once again, a very small cost to borrow, even though the short interest is pretty high, but none of them have like a max out utilization they're, all in the lower 70s. Now, let's switch it up to i'm sure what a lot of you are currently interested is amc and gme. So let me drop this 200-day moving average right here, all right, cool cool, so amc and jimmy one, two, three four five six seven days and we close above a big level of resistance.
That is a great great run, and once again this is kind of. What's tying back to my title of this one, i think it's very reasonable to expect a consolidation in the world of the market. You have periods of expansion and periods of consolidation and the more you have an expansive move or the more you have a consolidation. The closer you are to the inverse happening like i said this is a seven green day push and in that time period we have gone 53.
I want to make it explicitly clear that a consolidation calling for a consolidation right now is it's not the craziest thing. In fact, it's probably likely now. Is that a good or a bad thing if it does consolidate? I would actually argue that that is better than just continuing to rip and think of it. This way, think of it as you're, going up and you're like building this building, you're going higher and higher and higher, we want a new base.
We want a new level of scaffolding to give us something to base off of. We don't want our base to be off of 1340. We want to continue to bring a base higher and higher and higher. It would be beautiful to see a consolidation.
I don't know somewhere between 20 and 24.. I would love the consolidation right here for one two, three training days, something like that: a short time period where the market just accepts this new high level and then all of a sudden. We have a bull flag and we break out of that. This concept of just continually ripping and ripping and ripping.
That is something that is, by definition, unsustainable. It's better to move up hold that level move up hold that level. That's how you actually get a overall a bigger move in totality. So this is what i'm looking for i mean.
Obviously, it would still be awesome if it keeps and continues to rip, but if we are looking at just the odds of what gives us a breakout of this trend line, you're going to want to base basically right below that trend line. And you want the market participants to accept it and then all of a sudden, we continue to test test tests. We soak up that supply and then boom. That's when we eventually get the breakout, so i actually would argue at this moment in time. It would be better to consolidate at somewhere in these 20s. That's what would get me really really excited. Currently, i have no options on amc or jimmy, but if i saw that start to play out consolidate consolidate and then we look like we're about to test and maybe make a run for the true breakout of this trendline, that's when i would probably strongly consider getting Back into the options, because i think we could see an explosive move from there pretty similar situation with gme as well. I mean in fact, ever since we saw the last red day same thing, seven days of green and we're up almost 81 we're up 80.5.
It's one of these things that the technicals are just super super hot. You have to give the battery just some time to recharge. You don't want to get into a point where you see volume exhaustion if all of a sudden everything's ripping and the volume spikes then boom. One day you get hit with a red day and the volume's lower, and you just got completely nailed by volume exhaustion.
We don't want to see that play out. If anything, i would love to see. Gme fill this gap from the high of march 22nd, which is 125 125.79. I would love to see it quickly, fill that and then just bounce and ideally consolidate right below this massive breakout level at 160..
So, overall, is this gon na happen. No, i am not a financial advisor. These are just my own thoughts. At the end of the day, nothing i say is a buy, sell or hold signal.
You are in charge of your own money, but this is what i'm looking for and for what i know about the market. To me, that would actually be a healthier development. This type of movement, once again, it's just the engines, are too hot. The battery is running out of juice.
We need a period of recharge with that being said, i know probably some of you in the excitement over the past two training days, yolo'd some out of the money, calls that expire tomorrow. I very much hope you hit them. If you make any trade, i want you to be making money, but i'm begging of you when it comes to these don't fomo in when you're like okay, i need a very short expiration date. Far out of the money, that's the you might hit and if you hit it's going to be a huge payday, but the odds of you hitting in that type of a scenario are very, very miniscule so.
Options in this type of environment they're a difficult asset to trade, but if you feel comfortable with it, if you want to take that risk, hey it's up to you! It's your money! I hope you're successful, but remember these types of moves just because in two days we moved 50 and 47.8. Technically that doesn't mean the next day has to be a continuation of that. If anything, it's getting closer to a consolidation period so be very, very careful when you're picking your strike price and be very, very careful when you're picking your expiration date when it comes down to it, i think a good rule of thumb is whatever expiration date. You think is good, there's a good rule of thumb that you should probably just generically double it. If you want to do it for the week, maybe you do it for two weeks out if you're doing it for a month, maybe you want to go. Get more. There's a good good rule of thumb, of probably double the time that you think you're going to need, especially in heightened i guess emotional circumstances where everyone's stoked don't get caught in that scenario of fomo. The other one i really want to talk about is impp imp, uh imperial petroleum.
They are marine shipping, but they ship petroleum, they ship, basically oil um. So obviously it's going to be tied to oil, which is currently trading at 114. 30. 1.
14. 30.. I'm looking for oil to break out of 115.. The reason i'm talking about imp is just because, hey, i think, it's a powder keg.
In reality, short interest of 33.9 percent cost to borrow 200 utilization of 100 shares on loan of 5.54 million. It's also on the threshold list and the match for this particular powder keg is oil. If oil breaks at 115 that 120 level, i think impp indio cei all those could really rip just so. You know i have no inp position and i don't really plan on making one i'm covering it, because i think it's interesting it's something that we could learn from.
It's a good case study if i end up making a position which i most likely won't. Obviously, i'm going to let you all know, but it's something that i think is worthwhile to file just especially because we're seeing some wonkiness, especially the fact that it has such a high short interest, maxed out utilization, crazy, high cost to borrow, and it's on the threshold List, i think the final domino that needs to fall is an explosion, a continued upward movement in oil for amc i fee - i think i forgot this. The short interest is 21. Costs of borrow is still oddly low utilization maxed out ever since february, 8th and the shares on loan 134 million in terms of gme.
The short interest is continuing to go higher on gme right now. If you're, looking at a relative comparison of amc and gme gme, is a lower float stock with a higher short interest and the cost to borrow is also considerably higher, in fact, it's almost 10x gme has a cost to borrow of 21, while amc's is only 2.6. So uh, just i don't know if it is healthy to compare these two but like just because so many people are like actively watching these two. I just wanted to point it out.
They both have a max utilization ever since february, 8th, but obviously gme is a lower float stock and the reason i'm reminding everyone of what is or isn't a lower float stock. The lower your float is the more volatile your stock can theoretically move. It's just think about it, um think about all the stocks or all the shares. I should say think of it as luggage, the more luggage you have, the less rapidly you can move. So that's why, when you hear about these like low low float squeezes, that's why people are pointing it out is because there's not that many shares, so you get more volatile reactions, that's what i have for you. I want to turn over the last five minutes. Uh to all of you, if you have any extra, i see a lot of people talking about amd amd was a good mover yesterday. I think i was watching that 120 dollar level, for whatever reason, yeah, i'm still confident of like.
I want to see amd's reaction to 120, but with that being said, you kind of have to see the cues like. Are the queues going to continue to push above 357 and if they do, there's a good argument that all these major tech plays will continue to push? So i think it'll move in a similar like kind of rhyming manner to the nasdaq um. I see some people talking about bbig vinco ventures that is currently up 10 in pre-market, so we're getting a gap up, but it also has a gap to the downside at 258.. I have no bbig position, it kind of pushed up here.
I'm surprised it didn't gap, though yesterday this is, i would consider if you don't already have a position. Sub. 260. That's now it's becoming a tough play, because now you have two downside gap, those uh.
This is something that i personally don't think it's good to chase. Uh, especially with two downside gathers once again, if you're in it, especially like below 260 you're, looking pretty good you're looking for the test of 360., but this isn't something i would put my money at right now to me, the risk reward paradigm is just currently not There, and also one of i believe, their most interesting businesses. Well, that's also a long-term argument if you're in bbig bbig, i want to make this clear, i don't think is a long-term investment. This is like a short term technical trade uh.
It really like long term. They're they are trying to be competitive. They own a company low motif, which is trying to be competitive with tick tock, but it just doesn't have the user growth they're spinning off. What i think is one of the most interesting business sectors, kryptide that will be trading under tide.
So i just don't like it long term. It might be a good short term like technical trade 100, but not something i'd be in uh for the long term. At all, hymc hymc honestly does not interest me, and it's not looking that good. I mean it's just being deluded it's up 1.56.
This is not something i would throw my money at. I i just don't uh tide's, not a merger. It's the flip side of that they're actually like spinning tied off vinco ventures, currently owns kryptide and then they're going to be spinning it off to its own company uh, but hymc. As you can see, it's currently worth um 77 million dollars. Can you guys see this? No, you can't right here it's currently worth 77 million dollars. As of yesterday's close at a dollar 28. they're diluting it to the tune of 500 million. There's no way i'm gon na be investing in a stock that has a five up: 500 plus percent dilution.
Um. To me, it's just not a good trade if you're in it. I hope you make money, but i'm not going to take that risk with my money. Can i check the ortex on a e? I a e, i uh nothing noteworthy cost to borrow's high, but the short interest is low.
The utilization is low. I don't see anything special matt uh, a huge fan in og ape with you all. My also eagle scout brother is ringing the open bell in the new york stock exchange this morning streaming for opening thanks man. That is awesome.
That's so crazy, cool um. I actually don't. Even i don't know how to stream the new york stock exchange opening and unfortunately i only have a minute left, so i can't find it, but that's that's such an honor shout out to both of you for being an og ape and your brother congrats. That's so cool all right, how's muln, looking this morning still holding three i mean muln uh, the way we were kind of earlier talking about like a movement and then consolidation.
That's what we're seeing look it mulan had a crazy movement, and now it's consolidating that's a healthier development and it's consolidating just below a key breakout level. That's arguably what i would love to see in amc and jimmy a movement. Consolidation give us a bull flag and then we break from there. That is what i think would be a picture-perfect thing to play out in hopefully, amc and gme ding.
The casino is open. Let's do this thing. We are just looking for some consolidation. I think that would be perfect all right, let's zoom in let's see how these things are going to play out today, so the spy right at its 200-day moving average gme we're looking for to go another six dollars to go break even from yesterday's closed and amc.
We're looking for it to go another 70 cents and for those people who are exclusively listening just so you know, amc is just above 20 and then jimmy is in the low 130s. As of now, if there's a big movement, obviously i'll, let you know tesla's hanging out just above a thousand remember nancy pelosi's husband had a crazy good trade from last week. I wonder if he's already sold or not, but yes they are going live in berlin. They have a patent and they are also a positive update with hertz.
But a lot of these equities remember headwind tailwind argument with the s p 500. If the s p 500 can hold and it's pushing above 446 - that's a tailwind scenario supporting individual equities. But if it's getting smacked at 446 and it's selling off that'll just make it more difficult for individual equities to perform in a bullish manner. Today, twitch is down. Yes, i saw that so when i tried going live today it just wouldn't. Let me connect to twitch. So i'm gon na try to see what's going on there, but there was just um for some weird reason. Just wasn't working crypto is looking crazy, strong, particularly axi infinity.
Look at this just ripping all the way up to 62 right now, uh, not that it was at 45. uh, so axia infinity, ripping solana ripping bitcoin at a huge breakout level right here. This trend would love to see it get up to like say: 44 000.. Currently, just below 43.
ethereum holding above 3 000., it looks like crypto, especially at the market, because we're actually at if you're, looking at the correlation between the stock market, as in the s p, 500 and the nasdaq with crypto we're at almost like a high value. They are highly highly correlated right now. So really, if you think the spy is going to keep going, there's a good chance that crypto is going to keep going, at least that in this short term saga that we have all right, let's get going uh gme trying to make that move to go green. I kind of feel like maybe hmm i just tesla man like the news like we have the berlin factory.
I feel like there's just some nut stuff going on, but the cues are getting hit, patience, patience, patience, gme, attempting to fight to go back green, oh tesler, tesler, tesler tesler. What are you going to give us today? Spy not like in that 446 level. Imp uh imp is down seven percent on the day oil. It got smacked at 115 down to 114.
Let's pay attention to that muln that is currently up 2.6 holding above 320 as we speak interesting interesting, interesting, interesting, interesting, i'm just looking at something real, quick. All right, i just for fun, took a small tesla trade just to see if we're going to get a little extra push here, um the details on that just to be completely transparent with all of you. It expires tomorrow. I pretty much.
Did it at the money? The strike is 1030 uh and the price i got into was 1950 and i'm just looking for like a quick little like 10 type of a thing to see if we can get up there, nothing too special, it's a very, very small bet in terms of my Overall portfolio, just something to see and um. Basically, my reasoning is like okay um. I know the berlin factory we're getting a nice little push there uh. I know the hertz thing.
I know the patent thing. I know that the pelosi's are now supporting it. So i feel, like the odds, are pretty good. The only thing i don't like is that the spy and the queues are getting hit right now, but if the queues can start to push back around, i was trying to front run it a little bit on the tech weakness, because if this pushes, i think, that's What's going to allow tesla to really move, but once again it's a small bet for my account.
This is it's risky. I broke my rule of going in a little bit too early. That's why i played it closer to at the money and it's a small small bet, but the queue's not going the way i want them to right now. Come on tesla all right. Jimmy ran up to 136 down to 132 trying to bounce off of that. The cues are going the exact opposite way that i want them to go so instead, y'all's definition of ripping is weird. It is i've noticed that myself all right. Let's turn this thing back around man, amc and jimmy getting hit out of the gate, but remember this is six minutes in how's the small cap, small cap right here.
This is a little bit better of an explanation has been selling off all right: the queues, the spy, the spy coming down. What was that gap fill on gme that i would actually kind of wouldn't be too mad if it just hits it and then immediately bounces off of uh 125.79. All right, i should update locals tesla position. Call expiration march 25th strike all right.
Let's see how this goes, i just updated uh locals for everyone who's just on that just getting into the stream this morning. Are you having problems with twitch stream, because it's not showing up yeah uh streamlabs was just not connecting to it. It said there it couldn't, for whatever reason, reach out um. I was messing around with that this morning, but yeah there was a connection issue between streamlabs and twitch, so i'll try to figure that out for the afternoon stream.
My apologies to everyone who prefers that amc support. The support is actually kind of closer. Well. 19 is gon na amc very much likes like these round values so like 19, but the major one i see is 18.
uh. There has been more volume traded at 18 than 19. If you look at the volume uh profile, so you can watch 19, but um 18 is like a key support, a key support. There we go tesler, tesla, tesla, tesler and somehow i'm down 15 right now, uh someone said mullen is doing its thing.
Yes, it is all right, amc and jimmy catch a bit of a bid all right. So the first level i care about on this tesla trade is 1040., it's very much 1040. and then 1060. okay got it locked it in locked it in locked it in cool cool cool cool cool, mullen, looking good amc and jimmy trying to turn back around the Spy bouncing off of 445 they're we're basically now looking for that re-test of the 200-day moving average at 446..
That's a key level! Oh you got ta push there tesla all right. Well, while we're waiting for things to show okay, there's the spy starting to wake up. The queues are starting to wake up. There we go is the small cap? No, it's not so that's going to be a little bit of a drag in the bottom left of the screen.
That's going to be a little bit of a drag on amc right now. The small cap on just like an intraday basis, as you can see, between the spy and the q's. The small cap, is under performing so you're going to want to see in a pop in iwm, but at least for people who are supportive of tesla and berlin. And patents and hertz and the pelosi's right now, the queues popping should help with tesla love to see that break of 1022.. All right, jimmy's swinging it back around amc, trying to swing it back around uh, oddly, just bounced off of 1940 kind of like an arbitrary level. Muln right now at hit. A intraday high of 328 muln is currently up. 3.5 amc is down.
4.3 gme is down 6.2. Bbig is up 5.5 kind of looking like amc right now in a similar sense, but the nasdaq is looking good, which makes me feel better about tesla. There we go there come on come on, cues go go tesla, please break. I need the money i need to be able to pay for miami, which reminds me don't forget.
I will unfortunately be unable to stream tomorrow uh, i have to catch a plane very early in the morning to get down to find a new apartment to find a new studio space and to kind of just check it out. I've only been to miami like from like their airport, like once in my life, so i need to like explore the area uh. There we go tessa there we go. Tesla pay me my money um, but yes, i will be unable to stream tomorrow, but i will be back on monday craig, the texan.
No one cares really. No one cares that i won't be streaming tomorrow. None of the 7 000 people who are watching will care. That's kind of a bummer moving to miami.
Why uh business opportunities? I don't think miami um is necessarily like for me um, but hey you can't argue with like the tax improvements of florida. Uh miami particularly is very good for crypto and beyond that uh. It's just throughout the past year and a half i've built a stronger professional network, and it seems like a lot of that network. A little bit of it is in miami right now, but it seems like a lot of them are like doing business in miami uh, especially for me, you and tyree kill yeah.
It's just me. My buddy tyreek, ideally we'll be leaving together, um, but particularly in miami. The way i think about it is i'm attempting to take uh like let's say the moon gang. I want to go to the next level of content creation and with that it would be awesome to have the ability to talk to a lot of people and behind la in new york.
I would argue that miami is number three in terms of like where do people commonly cycle through, so it's kind of a banking off the popularity of this city and so more of a business thing like i said, i'm not really. I don't view myself as like a miami person. I view myself as a like. More of a denver person like put me in a cabin and like leave me alone, and i just want to look at like lakes and mountains by myself, with like a cool dog uh, but sometimes you have to do stuff for the business.
So i think it'll be fun by the way hit me up i'll, show you where the tulips are at oh boogie. I appreciate that. Hey all boogie 12 months. I appreciate you hanging out with me for a year man. How many times are you going to listen to? Will smith's miami countless just getting in the stream this morning? Are you having problems with twitch stream, because it's not showing up? Yes, i'm not having problems. I want to make it clear that twitch is having problems all right tesla. I need you to do your thing down. 19 down 20.
Come on tesla. Make me proud make me proud: tesla where's the spy at oh look at that look at what ran up to 446 and had an issue. Surprise. Surprise.
But really! This is like a super important level: 446, the 200-day moving average we're getting a cup. Maybe we'll get a handle or we're gon na get a really a really rough rejection. One or the other come on spy come back around. Don't do me, don't do me like the bulls everyone likes green everyone likes when the market comes up.
Let's, let's not even think those red bearish thoughts anymore, come on come back up, give us that cup and handle an explosion. Just so all my internet friends, don't think i'm silly truman. You need a place to stay in soflo. I don't.
I just got a hotel and stuff, but i appreciate that that's crazy, nice of you, if i end up um like having to go back down to just, do like more searching and that type of stuff i'll i'll, let you know, but that's incredibly kind, cardano's at 1.56, oh, wait. Okay, i think you mean um a dollar sixty i was gon na, lose my mind. There cardano's ripping axes ripping crypto's. Looking good right now.
You know it's not looking good on the intraday is freaking tesla! Stop! Stop! Stop! Stop! Stop! Stop! The indices. Are getting smacked right now, but small caps picking up should look good for amc as that's picking up looking for it. 1990 20. Something like that use magnets! That's a good call! If we're gon na fix this there's one thing that can fix this scenario and you are spot on it is a magnet.
I don't like to break them out this early in the session, but hey if they're gon na play dirty. I could play dirty. It's gon na be one of those days, one of those days, the cues, the spot. It's just this 446 line.
This is basically a binary bet. This is the flip of a coin of. Are we gon na get above 446? Are we gon na hold above 446.? If we do, a lot of things are going to go green. If we don't, a lot of things are going to go red, no opening song.
Today we had a a song, the the intro song gme, trying to fill the gap very well. Might it was basically just a hair below a smidge and below 126, but it it started to bounce earlier with the bounce in roughly at the same time of iwm and also amc, doesn't the spy have a downside gap? I don't believe so. No, i don't see any in the past couple days unless you're talking like from forever ago it might uh, but not within this calendar year. All this is like a filled-in chart.
You always have a place to stay in texas. If you visit rent-free i'll leave you the house and stay in my mom's basement miami welcome, let's party nicky, that's nick these names. I am kind of curious, though now on the spy um. So once again, there's no gap fill from anything of this year, but there might be one yeah. There is one down here from may at four. Well, actually, no that one is filled, there's this gap from april first, so there is a gap filled to the downside. At 467 and then maybe another one from right here back in november, uh so yeah there is, but once again, just not anything in the short term, oh tesla not going the way. I want it to the cues, the queues, the queues are puking.
All right amc looks like it's coming down to that 19 level, we're going to be seeing a test there most likely and then obviously we would clearly want the bounce off of that. But there's major support at 18, so we'll see how it reacts there gme. We have kind of two levels: 126.55, but the gap fill on gme is right at 125.79, once again, 125. 79 is the gap.
Okay, that's the gap fell on gme all right, cues time to do your thing, get us back above 354.. So tessa can be the peacock that we know it is and let it fly xom. Looking good interesting with oil coming down sub 114, i'm surprised xom yeah a little bit of a muted day, how's xom looking it is looking good oxy uso, interesting all right. Some people are calling out.
Some of these marinara plays the we're seeing a lot of these pop. I don't like sndl just because it's a penny stock and i actually think if i wears i like tilray better, it just has more name recognition. It's a bigger company, but you could always play the whole industry through the etf mj, but sndl. I just don't really like to mess around with penny stocks they're.
Just not. I don't have much success trading penny stocks, but overall the marinara industry is doing well recently, because there were some companies that were acquired at a pretty surprising premium, so we're seeing an elevation in the valuations of a lot of these companies right now. What was the other one amd not doing anything too crazy? Honestly, it looks like the q's today i mean look at that amd and g here, i'll zoom in just so you can see. There's the cues here's amd they're, like almost picture perfect uh amc once again looks like it wants to come test that 19 level.
Impp imp is having a good day, thus far, currently up two percent. This is, i have no position on it, but it's. In my estimation, it could get kind of going crazy with just what we're seeing in some of the the data set imp doing its thing, amc slowly but surely coming down to 19. gme.
I would just just quickly fill the gap and, let's balance and be done with this thing, i'm gon na be mad. If it comes this close just teasing it like just tap it really quick. Let's fill the gap, let's clean up the chart and let's move on with our lives all right. This magnet, maybe we need to make it bigger, is that my problem today, probably is no. I'm gon na have to start tweeting at pelosi. I'll have to use her to be like hey just so. You know like tesla's down a little bit all right, we'd love to see the q's go from there. I am pp moving best buds on mary jane's, best solana, marinara and ft's huh didn't even know they had one uh biden talking g7 talking yeah uh.
Also then, poland, right sorry, if this is done, why does amc and doge shark look pretty similar when i compare them, it's just that the market was at retail um. There's, probably some crossover be between amc and gme. I would expect to a little bit but um. I was actually looking at their charts a little bit like two days ago.
I didn't see like a crazy amount of correlation. If anything, it was just kind of like okay. Is the market pushing green or is it pushing red uh, so it was overall, like i think, tied through the market, not necessarily like amc 2 gma eric. Could you take a look at bv xv? Apparently they picked off on news that they're developing nano sized antibodies bv xv.
So it sounds like a pharmaceutical play which is not my particular wheelhouse. It went up and went down now. You just have this giant gap, i'm just i don't like pharmaceuticals um. It seems, in my opinion, it's a very i guess, binary world of how'd the tests go.
Was it fda, approved or denied? I just don't like the it's. A tough industry, at least with my knowledge base to trade, all right, this new magnet, better, get freaking working. All right, cues, the line in the sand, feels like it's 357, which is way high. Inpp is moving right now, uh.
I guess when i ever see something like this. It's up. 6.6 14.. Here is some of the breakdown on imp.
Just for those of you who are tuning in uh short interest of almost 34 cost power of 200 utilization of 100, and it is a small float low float company at 5.54 when we were looking at it in pre-market, we probably already hit the first gap, fill We're at the first gap fill which is the low from march 18th, which is 225. We just crossed that the next thing i'd be watching is 283 and then from there there is some things you're gon na watch, but the big level is the gap. Fill up to 473, so first gap fill achieved. Watch 283.
Next, if you're in imp, tesla you're straight up, embarrassing me right now: fire hydrant on the chart to put it on fire sale. Maybe we do need to try a fire hydrant trying to figure out. Maybe the best way to i'm thinking it might work if we're kind of like pushing it up. You guys see what i'm going for right here and obviously fire hydrants aren't blue.
That would be crazy. Fire hydrogens are red all right. Let's do this thing. Let's do this thing come on tesla the cues, embarrassing the spy, the spy is just it's having the worst time getting above 446, but it's trying at least so. That gives me a glimmer of hope. I don't know if i have a hydrant. This is the closest. I don't think they gave me a hydrant.
I just had a fire extinguisher. Did they give me a hydrant, here's the fire extinguisher? No, i don't see a hydrant, unfortunately ooh the spy. What are you doing at 446? Man? That's why i'm trying to. Maybe i need a smaller one here there we go 60 of the time it works.
100 of the time there we go there. We go the old classic fire hydrant chip. Imp is still looking very strong uh if it can hold this gap fill at 225, which is where we're at, and this is quite a bit of a move. It might have to take a little bit of a breather, obviously um, but if it can hold above that gap-fill, then i'm watching 280..
Can you tell correct to stop shorting amc, no spy? Well! This is less fun new here yesterday, when moon music, maybe that's what we need. We could play a quick song. Maybe that's what we need this ain't financial advice, just a little dd to help you think twice. We hope four, each other eyes on the prize.
The new floor is two hundred thousand times five by two kid. No, i don't know what damn thing, i'm the simplest bubba trying to sell some damn shrimp can't spell like you can't even count to thin and i eat crayons every day with my friends. I think about kenny in his ivory tower, shaking in his lilly bones, as the eggs of a power must suck to lose to a monkey so dumb. But you made your bed and you got nowhere to run i'd love to be a fly on the wall when he makes the price fall and he's watching as we keep on mowing.
You forgot we on the floor blind two hours old, like stop breaking the law money. Wow monkey took on the ape nation and you're with the best we hope for each other, my sisters and my brothers, the fighters and the lovers. We don't need another fan, because we huddled through hard times give us the money all right. Well, obviously, the old combo of show us the money in the fire extinguisher working thus far, but let's see so obviously the spy above 446..
The question is, will it hold and a better question is why in the world is tesla not respecting the move of the spy a little bit of respect, tesla traitors? You should be stoked about that offensive offensive, but also tesla's already up one percent, while the spy's up 0.6. So it's one of those things that, like graphically it makes you mad, but mathematically you're like oh okay, it's actually performing better. It's coming down to the i need the cues. I need the cues back up in this zone of 357 and i think if we can get there, i might get lucky.
I might get lucky and it's looking like it might want to break out. We just need to help it break out and in this particular scenario, what will help the cues break out? Is it gon na need to do? What do we need? What do we need? We could go with the moon, the moon, the moon, the moon. There we go. Let's see it, try to not break out now borderline impossible imp having a struggle at that gapful, which is kind of natural look for it to maybe come down, make a higher base and swing back around uh gme did not gap fill. It came close within like a dollar in some change, but it's already spinning back around and i'm starting to feel like this stupid fire extinguisher, isn't doing what i paid it to do all right. Let's go cues, i put the moon on or maybe we can make it a banana now. It's a banana amc. Waking up uh pushing that 20 level.