What's going on moon gang welcome back to another episode of dumb money with me, matt, let's talk about two of our favorite stocks, i'll be giving you a quick rundown of what's been going on with both gamestop and amc and then i'll be leading. You know what i'll be personally looking for in both of these stocks when the market reopens tomorrow, so let's hop right into it. Both of these stocks pretty good day, both were green. So another win for ape nation jamie closed out the day at 300 flat, which was a gain of 7.14 and amc, was up by 5 cents, which was a minimal gain, but still any neutral day or positive date is obviously a loss for the short sellers and Don't forget i mean i don't know it's been a while, since i've been in a math class, but i'm pretty sure trading above 55 dollars is still bigger than one cent, but i don't know i'll have to check a calculator later all right, let's hop into it.

Um, so i do want to start this one off with gamestop uh, just because it does have an earnings announcement tomorrow after the market closes on june 9th. So here's a look at its technicals. It's been doing very, very well ever since may 11th. In fact, ever since that low, we are currently up 119 gme everest over the past week, now we're up over 20 looking very, very strong.

Yesterday, when i was talking about gme, i was really really looking for a breakout and a hold above 300. from there. I was calling for a test of 348 350.. Today we managed to hit a high of 3.44.

That was good, but i'm still looking for that test and breakout from this high on march 10th. After that, i think, there's a very real shot of coming to the top of this wedge just above 400. So that's what i'm still looking for, but beyond that we still do have a strong fundamental driver, the earnings announcement. This was just posted today: gamestop stock sent higher by meme trading army ahead of earnings.

The meme stock armory aka ape nation is showing support for the og of the 2021 retail trading movement. Gamestop, don't forget this earnings. Announcement is after the market closes on wednesday june. 9Th so we've been hearing a little bit about this company hype equity, they kind of do stock market predictions based on social sentiment.

I thought this was interesting. Talk on social media of call options on gamestop or a bet on the stock rising in the short term. Outpace chatter, for put options by a five to one ratio; very, very interesting. The social sentiment for jimmy heading into this earnings announcement is a pretty bullish one and then a little bit lower here.

Just for those of you who are like really into the specific numbers. Here's what we're looking for going into the earnings announcements, we're looking for a net sales of 1.17 billion and it adjusted diluted, earnings per share of a loss of 71 cents. All these numbers are clearly an improvement on the numbers that were reported in the same quarter. A year ago, obviously, gamestop as a company has been fundamentally kind of pacing in a positive direction.

They were very, very intelligent with using their at the market offerings to raise money and, in a positive manner, changed the trajectory of where the company was going. So once again, these are the expectations heading into the earnings, call look for us to beat these numbers, and on top of that, beyond these exact numbers, i'm personally going to be kind of listening in to see if we hear anything exciting about what they're doing with This like transition into the e-commerce of esports sales, so i'm hoping we can get more commentary and updates on really how that's going for the company now in terms of the exact numbers start today off the short interest was 18.32. At the end of the day, there was a slight increase, the between the return shares and the borrower shares pretty much net neutral utilization sitting around 52 shares on loan, currently 13.15 million, and the one thing i want to bring up here and also bring this up. As we're talking about amc is, if we look at the average duration of shares on loan, as in how long hedge funds have been loaning out, shares that are at this point most likely short, because why would you continue to pay this fee without actually taking the Short position: look at this trend up up and away they've been betting against gme on average for the past 47 days, as in they've, not only been losing money because clearly, gme has had a really nice rally ever since late may, but on top of that they're Paying this cost to borrow um, so the people currently betting against cme, i would argue, are strongly underwater and yours you're about to see.

I would actually make the same argument for amc. In fact, let me show you right now short interest. 11.6. After today, 11.46 net return of 1.1 million utilization 87 shares on loan 92.

So if you take that net return into account, we're now down at 91, but look at this the same thing: the average duration of shares on loan has been going sky high. Ever since march 24th, we've gone from 18 days to now 58 days. That is absolutely incredible. Now i do want to kind of provide a little bit of clarification here, shares on loan whenever you're taking a legal, legitimate short, you borrow shares from someone, then you take a short position, so shares on loan is highly correlated with actually shorting, but there is a.

I guess a theoretical practice in in which you could rent the shares out, never take the short, maybe you didn't see your opportunity and then you return it. So i just want to clarify highly highly correlated with the actual short interest, the actual short shares, but not exactly the same. But anyway i digress. They've been in this for 58 days.

Look how incredibly underwater they have to be amc is currently trading at 55. Over the past week, it's a 71 percent game ever since may 21st. It is a 356 percent game and if we look over the past two months, we're looking in the range of actually sub 10 right around that 10 mark there there's no argument to be made that on average, the short spending against amc against gme. The data tells us right here: they are seriously underwater the price that they got in and took the shorts they're getting burned by that they're getting burned by us in the ape nation, and on top of that, don't forget that the costs of borrow fees add up Every single day and what's really moving against them, i would argue like especially in the amc community every single day, the entire ape nation that group of people supporting it, everyone diamond handing amc gme, is just getting bigger and bigger the longer.

This goes on. Not only are the hedges who are betting against us losing more and more money, but they're coming closer and closer to officially losing the fight, because our community is getting to that point of critical mass that they're just hemorrhaging money there's no way, there's not hemorrhaging money Right now, this is very much a dire situation, so we went over the technicals for gme, where i was looking for that breakup. Basically, i want that test of 348. Let's just call it 350 and a break from there and then going above 400 in terms of amc.

I just want to take a little bit more of a detailed view. Here's the 30 minute chart ever since this run run-up of last wednesday, when we had that crazy 95 percent gain day. We've basically been in a bullish, pennant a bullish pennant is when the stock is running upwards and then you form a triangle. We are seeing lower highs, higher lows.

Another way to frame that is consolidation. That's how the stock market works. We go from periods of consolidation to expansion, to consolidation, to expansion. It's just that's how the market ebbs and flows expansion, consolidation.

We are waiting for this consolidation and it doesn't have to build all the way out. That's not like there's not a hard written rule that that has to happen so, basically, i'm looking for this breakout and the one thing i really want to zoom in on. Of course, tomorrow, i'm looking for this breakout above this trend line, but even today we almost broke out and then we got rejected once again at 60. So from here we have support consolidation, a rejection, a rejection, a rejection and another rejection.

Clearly, whatever is going on at this 60 mark, people are really really defending it, as in the bear camp, does not want it over that, and thus far the bull camp has not developed enough momentum to break above it. So once we get above this trend line and have the official wedge breakout, i'm really looking like to me. The breakout will be confirmed when we get above 60 and hold that and from there, then that opens up the gates to 68 72 and i've already made a video discussing above 70 75. That's when you're going to see the next.

Like kind of, i guess, movement of market makers really delta hedging against all what's going on in the options market, and i think that's when we could see like phase two of another massive volatile run, that's similar to what we saw in early june. As of now, just remember that's what i'm looking for, i'm, not a financial advisor, i'm not a fortune teller! If you like what i'm saying, if you don't like what i'm saying, i still implore you to do your own dd, because at the end of the day you are risking your own money, it's very important that you feel confident in your own trade. Overall, though, in my opinion, i strongly believe we are winning the battle and the war with both amc and gme. I am very, very proud to be an ape, and i'm very, very proud to have both shares and call options on both of these companies with all that being said, i would love to get your thoughts on both amc and gme in a comment below, if you Enjoyed this video and you want to help me out that youtube algorithm, it would be greatly appreciated if you could leave a comment drop a like, and if you want to be a member of the moon gang, all you have to do is hit the subscribe button.

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