What's going on moon gang welcome back to another, dumb money update and in this particular update, we'll be talking about everything, amc and gme, and we have a lot to go over so with that being said, let's hop right into it. So, for today, wednesday september, 8th amc closed out the day at 47 40, which was the drop of 0.9 percent and jimmy closed out the day at 198.80, which was a drop of 0.1. So right here we're going to get into kind of some of the things that happened. So amc it shot up right at market open, came down and then for the rest of they kind of built up had a little bit of a down hit and then right at the end of the day, right before market closed, we saw an explosion, not only In price, but also volume i'll be explaining why that happened, gme kind of selling off from the start of the day, i think people had earnings announcements jitters as i'm filming this.

The earnings call hasn't started, but the results are out and, of course, we'll be diving into that that sold off until about 10 45 and then since then, to the remainder of the day, it just kind of grinded higher and higher and higher. So before we get into the technicals of both amc and gme, and this and their short interest data - let's go about like what's happening in both of these stocks for today. So some of the big news related to amc is right here. This was tweeted out by adam aaron, the ceo of amc cinema history by amc theaters in launching a 25 million plus national advertising campaign, never done before by any theater chain.

Our magical and powerful commercial star, oscar winner, nicole kidman, explaining why seeing a movie at an amc is so incredibly special. Now i will link a this video below. It is pretty cool check it out. Nicole kidman, later on, adam aaron went on to talk about this.

With liz clayman on fox - and we actually found out that there's about seven commercials and right here, they're just driving, enthusiasm and energy into amc. Theaters and honestly i mean i don't know how to look at it besides, that it being beneficial for this stock, but a little bit more interesting, as i said here in the intraday chart, is near the end of the day he came on with liz claiman a Little bit after three and that's when we saw a pop - and it was pretty interesting - and this was kind of the big reveal she tweeted this out right after breaking amc, ceo, adam aaron, we have made contact with gme on a partnership, we're not ready to say What it is says, amc now playing offense to get folks back to the theaters with epic 25 million ad spent. So right there they talked about really the process with nicole kidman getting out these advertisements, but the bombshell released was yes. They have been in contact with gamestop.

Now is a partnership confirmed as of now the answer is no, but they at least reached out, and i don't know to me this is funny. Does that mean like this is insane? This is why the stock market can be so much fun. That's why this particular narrative is absolutely hilarious. This is such a blast because things like this happen on a random day when you never expect it and who knows, i'm filming this before gamestop's earnings announcement, maybe they're going to say something big there, so i'm definitely interested to tune in to that later.

In the meantime, though, speaking of gamestop, the numbers already came out now. Gme did miss on earnings per share by nine cents, but they beat on revenue by 60 million and their gross profit margin beat their consensus by what's at about point five percent and we could see what's going on in post market right now. Uh amc is trading at 46.80 and gme is trading at 193.20, but please remember: this is post market trading a lot of low volume? I care much more about what's going to happen when the market opens tomorrow on thursday september 9th. So let's talk a bit about the technicals here we have amc and you've heard this.

There's not much change here. Cup handle on the smaller time frame. We have another cup and handle today we kind of got the breakout and you could actually better see it here, but it did not hold for me. The way i personally define this stuff is when it breaks out.

I want to see it close above it and i would like to see it on nice volume. Today we had a volume of 96 million shares for amc, which was actually a decrease relative to yesterday. So i like that it's hanging out in the top of the sideways trading range, the top of the cup and handle breakout region we're just knock, knocking knocking on the door. I like that we're seeing the pattern of higher lows.

That means the bulls: the apes are getting more aggressive, with every dip opportunity and every single time we touch the top of this region, we're just continually soaking up supply overall, the major levels i'm looking at following this breakout of 48.30. If we can hold that i'm watching 50, then 52.50 and from there i'll lay out more levels in terms of support, we do have an important support just below 45 and then from there. We have support at 42.50 in terms of the or text numbers. Today they borrowed 2.56 million shares against amc with a net return of 1.18 million.

The short interest is 19 remember on a year to date basis, the highest estimated short interest is 19.6, so we're within striking distance of that shares on loan uh 119.83 million utilization 92 percent. Obviously this is trending up the shares on loan in the red line. Uh and then also the all the average age of the duration of the shares on load uh we're still pushing two months at 56.4 days in terms of the flow i want to start, including this just so, you can see what's going on in the options market, Because it is very important to discuss what's going on with the potential of the gamma squeeze so today for amc, the call premium was 166 million, the put premium was 33.5 million. Obviously the calls greatly outweighed it and the premium in terms of bullish premium was 52.44 and the bearish premium was 47.56 percent.

So, in terms of the options world for amc, the bulls, the apes definitely dominated the day, let's switch it over to gme, i'm a little hesitant to really do these technicals right now, just because we're running into a fundamental development like right here, the fundamental announcement of What's going on with the earnings, that's going to completely sway the stock, so right now i mean, of course we could say yeah bullish, pennant. We got the fake out breakout it rolled the line down. We found support at 200, we're still hanging out there. Yes, i like that, but we have to wait to see what's set at the earnings and, more importantly than that, we have to see how the market reacts to it.

So this one uh right here, i'm looking for 200 to hold. We have support at 188. I'm looking for the break out of the 212 to 215 region and from there i'm watching 225. in terms of the short numbers today heading into the earnings call they borrowed 160 000 with a net return at 250.

A short interest of 12.27 utilization of 36 and shares on loan is 6.8 million, and the average age of shares on loan is almost 41 days. In terms of this flow, i'm actually excited to check this out. Let's see how people did today, 53.53 was bullish. 46.47 was bearish, the call premium was 57 million and the put premium was 34.8 million so heading into the earnings, at least in the terms of the options world.

It does look like the same thing: the bulls the apes did dominate the day. So, overall i mean with gme, we have to wait. We have to wait and see what they say in the earnings call, and we have to wait to see how the market actually reacts to it, but with amc i mean for both amc and jimmy. I think it's pretty crazy that they have at least been in talks.

I don't know what this will actually relate to in reality, but the fact that they've even been speaking together i mean that's. You can't write a better story than that. I mean. What's that saying, fate loves irony, absolutely hilarious right now, jimmy i'm looking for it to hold 200 amc, it's knocking on that door, the breakout in the low 48s and from there you never know where it could go it could it it could go sky high.

We don't know, that's why we have to watch it day in day out and watch the levels of support to resistance and just watch that from tron stratron strong and honestly, the exact same thing is true with gme. So with all that being said, i would love to get your thoughts on both amc and gamestop in a comment below. If you want to help me out the algorithm, you know about all that good engagement, stuff and until i catch you next time from me and share best of luck in the markets, you.