What's going on moong, let's talk about what happened in the stock market today on wednesday march 3rd, in this video i'll, be giving you a very quick update of what's going on in the public portfolio i'll, be talking about, of course, some of our favorite socks, gamestop Amc rocket companies i'll be sharing some of my newest positions, i'll be laying out some of the technical price levels that i'll be looking at when the market opens back up tomorrow and i'll kind of just give you my general thesis of what's going on in the Stock market right now, of course, before we hop into gamestop looking pretty positive amc kind of flat on the day before we get into all this, let's quickly go over the portfolio, so today the portfolio lost 2.5 thousand dollars right now it is sitting at 12, 000. Um, i didn't sell anything in this portfolio. Actually, i didn't sell anything at all. I bought something in my web weeble portfolio.

I still have the gme calls i'm looking to get out of these. If we see a nice bike in gme tomorrow because they expire on friday, i still have my rocket calls. My other rocket calls the mc calls and, of course, my amc and jimmy shares. I have not sold anything.

I very very very much wish i got out of rocket yesterday, a lot of you telling me i should have. I guess i was being a little bit too stubborn. These are it's now a loser play for me. I don't know.

What's going on, i was being too optimistic. I wanted it to run um. I still don't think that it's a distraction, but i should have listened to all of you to take profits. Definitely my mistake um, but, as i was saying to talk about what was going on in the other portfolio, i was talking about this a decent amount on stream.

Today, when i saw weakness in the overall market, the s p 500. Here i decided to hedge it going down. I have quite a few shares of tesla in my private portfolio so to hedge that i actually bought. Two tesla puts um i'll, throw those up on the screen, so you can see it, but basically i bought two puts the strike price on tesla's 625 expiration date of march um 19th.

I picked these up um at 21.45, as of the market close they're trading at 29.49, so this means that i'm up 1.8 thousand eight hundred dollars on it. So really, if you take that gain into account with two days lost, i'm really down about six hundred dollars on the day. Obviously i don't want to be down, but um, it's not as bad as it looks and i'll explain my thought process that for that um in just a bit, but i know a lot of you - are tuning into this video to specifically see what's going on with Gamestop amc and rocket, so let's start off with gamestop, because it is definitely moving after hours gamestop. Obviously, the original meme stop roaring kitty.

We are diamond handing it holding it to the moons. I really really like this action in post market, so gamestop, which trades in the ticker gme closed the day out at 124, which was a gain of five percent, but as i'm filming this, it's trending at 127, an additional gain of 2.5 percent, thus far in 2021. It's super ridiculous 560 has to make you laugh so after um from a technical perspective after this trendline breakout, which is a bullish, pretty bullish, move that didn't get rejected on it and sell off it's kind of traded sideways all day. But now i'm like in this action post market, so really what i'll be looking for was like.

Of course, i'm happy got above this trend line. But to me, this real test is at this first level of resistance at 135, really there's a region of resistance between 134 and 137 so watch that tomorrow. If we get above that, i really think that the next stop is 160 and if things get absolutely bonkers, the next stop is 184, the bottom of this gap region overall, my big goal for gamestop is all the way up to 212, but i don't think that'll Be happening tomorrow, i would love for it to happen tomorrow, but i think there's a fair amount of resistance between there and now so um. There would have to be a lot, a lot of bullish momentum on the downside.

If gamestop is rejected here, there is support at 112, another one at 114 and then there's a strong region of support between 91 and 100. and just if you're new to the channel, when i'm saying support and resistance, when i say support, i just mean an area That the stock has been rejected off has bounced off him in the past and when i say resistance, i mean in a price level that the stock has been rejected by in the past. These are important because in the world of the stock market and stock trading, resistance likes to act as resistance in the future support like sakta's support in the future, and they can even switch. So once we get above a resistance that can then act as support and once we break below the support, it can then act as resistance.

So it's very very important to do some basic technical analysis, because i mean even look at this. When i mapped out 135 support support turned into an area consolidation, then it was resistance, resistance, resistance and no technical analysis indicator will ever ever be perfect, but it can really help you make some better trading decisions that help you optimize your risk to reward. So, to sum up gamestop, it was a positive day. I mean i'll, take any green days.

We can get at this point because the slow we, the more surely and slowly, that we grind up it'll, put more and more pain on the shorts. So i'm here all for it. The first thing i'm watching tomorrow is this 135 technical resistance. All right, let's switch it over to amc um a little bit different, similar chart, obviously uh still training sideways to be fair.

The past really three days four days, have been pretty boring: um, i'm still still looking for it to hold this support. At 8. 40 past 8. 40.

We have eight dollars to 7.90, so we're looking for this to hold and in terms of a technical breakout, i'm watching this trend line depending on how quickly this breakout plays um it'll be right around nine nine 25-ish. Obviously, nine dollars has acted as hardcore resistance rejected there today yesterday uh previously, it was resistance and support resistance back here on february 26th. Something is going on at nine dollars. Not only is it technical resistance last support right now it's acting as resistance, but it's also a key psychological level that a lot of people are happy to take profits off of or they're using it.

As a as a point of resistance, so watch nine dollars, then watch this breakout pass there clear sailing all the way up to the region between 975 and 10 10, and just so you know, my ultimate goal in the medium term on amc is 1291. That would be the equivalent medium goal of gamestop to 212.. Once again is my medium term goal just so. Everyone knows in terms of support 840, then we have 790, but really, as you can see on the bottom here, the volume is kind of drying up uh.

We definitely want more volume. Similar pattern in gamestop volume has been drying up, so both of these we just need the interest to pick up in them. I think it can happen. I'm not saying that it's likely that these get squeezed, but i'm also not saying that the chance of the squeeze is zero percent, we're playing it day by day and we're watching these technical levels.

Don't forget that amc does have an earnings announcement on march 10th and with gme there's a lot of suspicion that that mo that week of march 19th, leading up to it there um could be a lot of action that could be beneficial to a short squeeze. So, let's see how those two play out so now, let's go over to the one that lost me a lot of money today and a lot of people told me i should have gotten it out of, and i truly truly wish that i listened to you rocket Shot up yesterday had a high of 45.50, then it sold off. I mean i'm at the point where i'm i'm throwing a hail mary play, i'm hoping that the rsi is so oversold that we bounce back. I would love to recoup some of my losses even around here.

34. 35. Let's see what happens, i know in the moon gang discord. There was some posts about some solid due diligence on rocket companies because it was down so much today.

It's definitively in ssr. So will be harder to short it tomorrow, so i'm looking for that, but same thing like the volumes drying up, i don't know i'm using uh what is this 2675 and then also the bottom of the gap at 24.50? This is my support region. If it falls below 24.50, i definitively have to get out after that, it's just an even worse trade and we're starting off pretty bad at a worse trade um. So that's what i'll be watching! I'm looking for a breakout of 30 34.

40. If i get lucky um, i don't know i'm not happy about this trade, i'm just trying to salvage um what i can of it so now uh more importantly, uh! Well, i want to talk to you what's going on in the overall market of really why i need to buy some tesla puts today. But let's do a quick recap on bitcoin bitcoin holding 50 000. It's actually trading close to 51 rejected at 52, 500..

So watch that for a breakout, um look for support to be found at 50, 000 key psychological level aetherium same shape, dogecoin, actually the same shape so um crypto, i'm a long-term investor in bitcoin and ethereum definitively. I i'm excited for where these things are going to go just so. You know my thoughts on bitcoin at this moment, but anyway, let's go to. Let's have a quick talk about what's going on in the overall market.

This is in the s p 500, which is an etf stands for exchange traded fund and basically, you could think of it as a basket that tracks 500 of the largest stocks uh companies in the u.s stock market uh some of the popular ones, microsoft, apple, uh, Tesla is a recent addition to it, but anyway, for the longest time it was trading in this upward channel and in the world of technical analysis. We call these upward channels bear flags, you heard me right, bear flags and that's because they commonly break downward granted. It has broken down one two three times before and gotten right into it. I tried to buy some s.

P 500 puts on this day, and then i got scared out the next day when it got pushed back into it. It also had to do with the fed chair, saying some pretty positive things. He got people excited, but it broke down again tried to get back up into it again and then this time it failed. So when i saw weakness here, i didn't want to buy s.

P 500 puts again just because i've gotten burned on them so many times. So i was thinking how can i hedge some of my important big positions and i own a lot of tesla shares so to hedge those tesla shares in this time of weakness, especially because it could not recapture 700. Today, really 695, i decided to buy those tesla puts that i'm up 1 800 on 1 um. So it's just a hedge because as this continues to go down, i'm losing money in all of my tesla shares.

So i'm basically just looking to ride this down. To this region of support between 600 and 615, that's my target, i am being cognizant of the fact that the rsi is getting pretty low, so i think a bounce there's a really good chance of it happening in this area. My ideal situation, as of now is to ride these tesla puts down to 600 615 and then buy tesla calls and then rye tesla all the way back up once again as of now. This is my hedge against the overall market selling off and uh.

Specifically my tesla shares because i'm seeing some negative things, i mean back to the s p 500. This is a heavy looking chart. It really looks like it might want to dump to the region between 675 676, i'm in no way calling for doomsday. I'm really calling for a healthy correction.

We can even check out the q's qqq. This is the nasdaq 100. It's basically just a tech, specific etf once again it broke. This support at 312 today looks like it might be.

Coming back to this region of support between 297 and 303, it's important to know what's going on in the overall market, the s p 500, the nasdaq 100, the russell 2000, because they act as a barometer for the individual stocks that we have, for example. It is way way easier for gme, amc and rkt to squeeze if the overall market's doing well you're, basically dealing with headwinds and tailwinds and right now, with these overall indices falling, they are acting as headwinds for these other ones to potentially squeeze that doesn't mean it's Impossible, it's just like an extra headwind um. I just want you guys to be aware of that of that new position today, but overall, tomorrow, all eyes are basically still on gme, i'm very very excited i, as i'm filming this. I really really like what i'm seeing in gme.

I mean it came all the way up to 1 30 right now. It's at 1 26 so tomorrow looks like it could be a pretty exciting day for gamestop um amc whoa. What was going on here. It looks like it had a bid that went through at 882, 871 right now.

It looks like tomorrow i mean today was kind of sad. I i was crying a bit on the inside, but it looks like we could be setting up for an interesting thursday march 3rd, which hopefully leads to an even better day when options expire on march 5th. I would love to know your opinion on all of this. What do you think is going on with gamestop amc? What do you think about my temporary uh short position through puts on tesla, and what do you think about what's going on in the overall market? Let me know in a comment below and don't forget that if you want two free stocks sign up to weibo below you know, once you sign up, you get a free stock.

When you deposit a hundred dollars, you get another free stock and, if you're looking to invest in bitcoin ethereum, i highly highly recommend block five there's that link below, depending on how much you deposit you can get up to 250 free of bitcoin. So we're talking free bitcoin and we're talking free stocks definitely check out those links below, but from me the chair and the duck shirt. I wish you the best of luck in the market ahead and don't forget we will be live streaming every day monday to friday. At 9 00 am so, i hope to see you there.

Thank you. You.