What's going on moonga, it is time for your stock market update for thursday march 11th and boy. Were there a lot of shenanigans in the stock market? Today, in this video, we got to talk about some stimulus. What's going on in the overall market i'll be letting you know some of the newest positions in my public portfolios and of course we got ta talk about what's going on with gme and amc because there's a lot of suspicion - and i definitely agree that tomorrow will Be a pretty volatile day and i'm hoping that it's volatile in the bullish favor, but before we get into all that, don't forget to join up with the moon gang by hitting the subscribe button. Also make sure you hit that bell: icon click, it switch it to always, so you don't miss any of the monday to friday live streams and, of course, video updates such as this one.

Also, as a reminder, uh, if you want two free stocks check out, that link to weeble you'll, get one for signing up and then another for depositing a hundred dollars all right, let's hop into it. So before i get into all of this, let's just quickly go over that stimulus deal. So president biden signed the stimulus to the deal today: biden, signs 1.9 trillion dollar rona relief, bill, clearing way for stimulus checks and vaccine aid. President joe biden signed the 1.9 trillion rona relief package on thursday afternoon.

That was today march 11th. The plan his top priority as president sends direct payments of up to one thousand four hundred dollars extends a three hundred week per week, unemployed in an unemployment insurance supplement, expands the child tax credit and puts funds into vaccine distribution uh. Just you know - and i know the big question is like: when will i get my money um? There are some suspicions that you will get it as early as this weekend. Early next week, to the best of my knowledge, it sounds like these payments checks of one thousand four hundred per person.

If you make less than seventy five thousand dollars and then add those up per child for every child, you had every dependent it's another. One thousand four hundred um that they will be coming out as early as this weekend early next week. Now those are the early suspicions. Uh democrats passed the legislation on their own in congress as republicans question the need for a major stimulus package while the economy approves.

So that's what's going on with that uh. If there is desire for it, i can make a standalone video of all the specifics of. What's going on with the stimulus package, i just wanted to bring that up quickly to talk about the uh, the market today, uh so the overall market, the s p 500, which remembers an etf that basically just tracks 500 of the biggest companies in the us hit A new all-time high of 395 and 65 cents, so the the stock market, like a brand new all-time high, was hit today, even though it was signed in the afternoon. I just kind of want to quickly bring to this to your attention.

Obviously it was a lot of bullish action, but i just thought it was kind of funny that, even though it was signed this afternoon, if you look at the stock market, i mean call me crazy, but it's almost as if someone out there knew as early as 10. 30. This morning, from 10 30, all the way up to 11 45 hours before it was signed. We, the stock market, ran up in a pretty orderly fashion.

I mean call me crazy, but it just seems like someone must have known something because we saw this very systematic run-up, but those are just my two cents uh of what's going on, but overall stimulus bill is signed. Checks should be sent out pretty soon um. Hopefully, that does help the overall economy and, what's going on stock market, hit a new all-time high. I would very much like to see the job market and overall economy economy follow suit with the the stock market.

That would be pretty nice, but overall in the stocks in the stock market in your portfolio, let's look for a nice follow-through um, so it hit a new all-time high today, right now, we are at this trend line getting back up into this upward channel. Let's see how it reacts not only to this trend line, but the key psychological level at 400. um. Now, let's switch it up, that's what happened with the overall market stimulus deal signed before we get into amc and jimmy.

Let me just give you a quick portfolio update i'll make this as fast as i can. Today it was down to 12 400.. Basically, the main culprit is this gme call it's down it lost 1 000. Today got absolutely clobbered because it expires tomorrow.

It's a 3 45 call, so i very very much want gme to get squeezed tomorrow. I would love that uh overall on the week, though, we are still positive, we're up uh 631 dollars. So hopefully we can end this week in the green uh. This technically is a new position.

This draftking's credit spread, but i was just trying to explain something on the live stream today, um, i'm assuming that this one will hit, but it's a small position. I really wouldn't worry about it. On the weeble account um. I knew positions are a couple ones.

I just want to go over riot uh. I have some two calls. 65 strike expiration next friday march 19th. This is a play that bitcoin will keep running.

Bitcoin looks very strong, in fact, i'm betting on it, making a new all-time high um, most likely tomorrow this weekend, sometime very soon, that's what i'm looking for! I bought some mbis. I bought some nndm a lot of excitement between these two. I still have those tessa calls from yesterday: 775 strike expiration the 19th i own, five of them. Yesterday it was down 1 300..

Today they were positive for a brief second now they're down 300.. As long as the market remains strong, i'm praying that tesla falls suit. As i'm filming, this tesla is trading just below six hundred dollars and then the gme call i have in this account is sub 5500, so that one is doing pretty well with this account, i didn't close any trades on any accounts. All i did today was open new trades, so nothing was really realized.

This is just how the accounts are currently sitting. Of course, that can very much change by the time the market opens tomorrow. So now, let's get into what in the world is going on with gme amc, as i'm filming this gme closed out the market. Today, around 254., it's trading around 250 amc closed out the market.

Today, at 10 24ish it's trading slightly down at 10 13 as i'm filming this live. So what um? Let's just start off, i guess alphabetically, let's go on with amc weird day so on twitter check this out at 2, 29 p.m. From liz clayman alert wall street bets wall street bats, reddit rebels may be very interested to hear the news i'll be breaking about one of their favorite meme stocks. I caught amc ceo, adam aaron, by phone just before his flight took off as la theaters.

Are poised to reopen saturday? Will amc tune in at 3 p.m? Eastern, then uh. So i was streaming as this happened, but what was funny just stopped fox news. Just up liz clayman streaming as soon as they started talking about amc what's going on, i don't know if this is conspiracy. Obviously, sometimes there are technical issues of what's going on, but it does seem a little bit suspicious um that right when they were about to talk about amc, the ceo adam aaron uh, her feed was cut, especially when she was like kind of getting.

Everyone excited for this talk at 3 p.m. So, let's see how that develops. Also, as an other quick side note, this came out today on the wall street journal. Amc finds the right price with warner.

Media theater giants deal with the studio may include break in film rental fees. Warner media may have bought itself some piece with the world's largest movie theater chain, and the chain could use the good news. Amc may be best known these days as the second most popular yolo stock after gamestop. Amc shares were up 365 percent from the start of the year before the company's fiscal fourth quarter report wednesday afternoon, but those results were never going to justify the action revenue plunged 89 year-over-year to 162.5 million.

This part is true, but we're on the back and we're now back on the up and up the world's opening back up the stimulus deal that got signed. Um california is opening back up new york's opening back up um new jersey, connecticut. When you add those four in, they are a third of amc's overall revenue. We, the world, is returning to the new normal, so um amc at one point was wondering how much cash they had on hand to keep the doors open, and now they are very bullish.

I listened to the amc call. The ceo is very, very bullish on the future, very very positive um, so it was a bit of a surprise that amc gave a shout out to the incoming warner movies on its conference call wednesday that was march 10th after the market closed that included, godzilla vs Kong, which is set for release on march 31st, amc chief executive, adam aaron, said you should probably assume that if we're playing warner movies, we came to an agreement with warner that any changes in their strategy are being done in ways where amc's shareholders benefit, as opposed To are being penalized, he declined to discuss further details, but added later that, congestions will likely show up in fees. Amc pays to rent movies, so potentially a positive development. I i do like what i'm hearing, but i think it's better more, so just that the world's opening back up, i think that's a better news for the company amc uh before we go into gme.

I guess let's quickly check out the chart on amc. So here's the daily situation - you can ignore these trend lines for now, basically just lower highs higher lows. This is referred to as a bullish pennant in the world of technical training. When a stock is trading upward, then we see lower highs higher lows.

Typically, they break upward. It's a very, very common technical pattern, and just please please remember in the world of technical analysis, nothing's ever going to be perfect. Nothing ever has 100 accuracy. No indicator, no pattern.

Anything like that. We just like to stack the uh, the deck in our favor and right now the deck is favoring the bulls um, so i am looking not only for a breakout, but i'm still looking for this gap fill all the way up to 1291 this low. On february 1st and then compared to the high on february, 2nd, then the high on february 25th and then this new high, the new relative high in february or march 10th. We still have a little bit of a gap between 1246 and 1291.

So, from a technical perspective, i'm still fully fully expecting amc to have a gap filled to 1291. I'm not saying it's gon na stop there. In fact, i would prefer that amc continues to run continues to squeeze, but from a technical perspective. That is that, first major technical level that i'll be looking for once again, this is the daily perspective of where we're at on amc and here's a look at kind of what happened today.

This is a better look at that bullish, pendant. Basically, the stock was trading upward. Now we have lower highs higher lows: bullish pennant, commonly breaks upward. The high yesterday was 12 47, so we still have um about a 40 cent gap up to the technical gap fill of 12.91.

So, tomorrow, to end the week out on friday march 12th, i will be watching these technical lines of support. 10. 10. 10.

9. 74. Also, this trend line and then, in terms of resistance. I will be looking for this ten trend line breakout.

Obviously, the price changes as the day continues to develop. It is a dynamic line. So we'll look for a breakout of that. Then i'm expecting a little bit of resistance right before 11 at 11 and then i hope that the pedal is to the metal and we go all the way up to 1291.

That's what i'm looking for in amc very, very excited um. I know it feels like we somehow lost today. I don't think that's an accurate feeling. Amc was up 4.37 today.

Any green day is a good day because remember every day that the stock doesn't fall all these hedges. All these short positions are paying a fee to swing their short position overnight. Right now the short borrowed fee is 3.87 and the short shares available um, as of the market close today was 4.2 million. I know this number has gone up, but keep in mind that the few million shares that were covered - that's a small small portion of what we saw in the overall volume.

Today's trading volume was 83 million, and that was a lower day from what we've seen earlier. This week, so if you cover a million or two shares like a million or two million short shares, that's a small, it's a kind of a drop in the bucket of the overall volume, there's still a big short position out there. There are still a lot of call options, so i'm just hoping we see some nice follow through tomorrow. Now, let's switch gears up to what's going on in with game stonk um, i guess before this i do have a quick article.

This was just posted on yahoo. This is from s3 partners. We should see the gme short squeeze continuing music to my ears, so right here uh this is the analytics um firm, s3 partners. They basically do a bunch of fancy stuff.

They have been uh kind of speaking a lot about. What's going on with amc and jimmy, i recommend checking out their twitter, but here was a quote from a um person at esri. We should see the jimmy short squeeze continuing and more short covering in the stock at market to close loses mount, but as the stock continues to rapid climb, there will be short sellers waiting in the wings looking for entry points, if this rally loses steam and gme Stock price retraces short interest may have fallen, but it's still significant. That's the important part.

Yes, it fell a little bit, but it's still significant 2.76 billion, with 11.18 million shares shorted, which is 20.52 short interest percent of float or 17.02, depending on how you calculated it. According to this guy from s3 partnered - and just so, you know, they recently decided to change how they calculated uh. They basically just changed out the drum uh, the the they changed, the formula of how they do it. A month ago, with with the for the first squeeze so uh the way we're used to calculating it, these numbers are actually a little bit higher, but at the end of the day, the point is is that, even though it's fallen a little bit, it is still Significant and i would recommend looking on it as more of like a relative thing, not the magnitude but like how was it before um, so just the key here is to use the um the same calculation over and over uh to be consistent.

To put this in context, fellow meme stock amc entertainment has a short interest of 17.32, pretty close to the 20.52 tesla another famously shorted company. It's 5.98 amazon is 1.3, so a lot of people say that tesla is heavily shorted and that's at six percent. Amazon, which is a normal stock, is at one percent. So obviously, amc and gme both still have a very, very high short interest.

This has not been profitable trading week for gme short sellers after being down 1.36 billion on monday and tuesday, wednesday's plus seven percent price movement added another negative 2.2 million in additional market to market losses. So you heard it here right here. Here are the exact facts: people betting against these stocks are losing right now, um we're all just waiting around to see if they're going to lose it anymore in, like a very obvious mega squeeze. So, let's see how that plays out, but in terms of gme, very, very similar chart to amc uh.

We did get that gapful. For the longest time i was calling for a gap fill up to 212. uh. Two days ago, we saw a massive spike up to like 348 or whatever this high is 348.50.

And now, if we go back down to this 30 minute, chart we're kind of uh. So yesterday we're all aware of those insane shenanigans that were going on both gme and amc sold off right past 12. There's some conspiracies related to that because there was articles written allegedly before the sell-off even happened that the sell-off had happened, weird stuff going on. I can't really confirm or deny anything related to that.

I didn't write those articles. All i know is i'm dealing with the price levels that we're seeing right now, basically from i don't know the afternoon yesterday to all day today, just we're seeing whips on back and forth just kind of trading sideways between 250 280. so i'll be watching those price Levels and i'll also be watching these white trend lines which are now representing a wedge but overall tomorrow. I'm thinking that there's going to be more volatility, um, just because friday, a lot of options expiring, there's still a lot of people shorting both of these stocks.

So, let's see i can't guarantee, i can't really predict anything. All i can do is point out the technical levels and predict how we're going to react to when we get those, but right now, i'm still feeling good. I still have diamond hands. I don't think the fight's over the fact that so many news outlets, and so many bots and all these people are saying.

Oh it's over forget about it. The fact that so many people are saying it's over makes me think, obviously, that it's not over, because if it were, then why are you still talking about it? So that's just my two cents on it. I'm very very excited for the stock market action tomorrow, um as a quick side note before i get too far off, i did want to just talk about and show you uh, really quick. Why i got into riot uh it's just because riot is a bitcoin miner.

Uh bitcoin itself super super strong. Ever since february 28th um i've been pointing this out now for the past couple days, i think very very soon. Not only will we test this all-time high of 58 354. I think we'll break out to a new all-time high.

My first resistance is just that key psychological level of 60 000. So just a quick little side note on bitcoin there for you, but the main action tomorrow, i'm expecting all eyes, will still probably be on gamestop amc fingers crossed for some bullets, bullish action. But let's see how that plays out, i would love to know your thoughts on gme amc. Do you think i'm just buying too much into these conspiracies, or do you think that people are still actively trying to push it down um outside of just the realm of the stock market? I'm talking about doing underhanded shady stuff.

I would like to know your thoughts in a comment below and don't forget. If you want to see some of this played out, live, don't forget to tune in to the live stream. They happen monday to friday, the entire market day. We are there and also, if you want to stay up to date, not only with the live streams, but with video updates such as this one.

All you have to do is hit that subscribe. Button go over to the bell note: the bell icon and then switch that to always and remember if you want two free stocks check out that link to weeble uh, but until i see you next time from me, chair induction, remember best of luck in the markets. You.