What's going on moon gang welcome back to another dumb money update for today, tuesday august 17th and boy, oh boy, when another b-e-a beautiful day to be named now, i know that you could argue it's always a great day to be an ape, and i agree with You and, among many other reasons on this particular day, it's great to be an ape because it feels like the momentum in amc is finally starting to change from bearish to bullish. Aka apish i'll be discussing that in this video, along with some other things. So, let's hop right into it when the market closed. Today, amc was trading at 37.16, which was a gain of 4.12 jimmy closed out the day at 163 55, which was a drop of 0.23, and just so you know just a little fyi robin noon closed out.

The day down one percent at 46.67 - as you know, i am long on amc. I am long on jimmy and i'm short against robin hood, but tomorrow wednesday august 18th, when the market closes, robin hood will have an earnings announcement. So there could be some volatility specifically in robinhood tomorrow and the day after, because of that fundamental driver in terms of the market at large. The s p 500 yesterday on monday hit a new all-time high right, as we were running into the president's comments about afghanistan.

Specifically, kabul and then today we had a sell-off early in the day and then, by the end of the day, it retracted all the way back up some weird action. Um right now, i have no spy position. I'm just i'm kind of interested to see how this plays out, but they try to push it down lots of whip songs throughout the entire day by the end of the day, buyers step back in. So i wouldn't be really at all surprised if we somehow continued this trip upwards, very, very strange, iwm, the russell 2000.

The reason we're talking about this one is just because amc is a member of the russell 2000. We had this weird breakdown today and similar action and went down and came back up, but in the daily trend it is looking a bit more weak and, honestly to me, that's showing how much more strength there is in amc. The fact that it's kind of fighting against that trend, but before we get into the technicals of amc and the ortex numbers quickly, just so you know, as i'm filming this, there is some weakness in crypto bitcoin. Currently turning just below 45 000.

I would say the next support is at 43 7. dogecoin coming off of 34 35 cents trading at 30.5. Next major support, probably around 29ish cardano, breaking just below two dollars. As i'm filming this, i would say the next support, maybe a dollar ninety, maybe a dollar.

Seventy and then ethereum coming off of three thousand three hundred trading just above three thousand. There is good support around there and below that. I would also watch two thousand nine hundred right there. Just wan na give you a quick update of what's going on with crypto.

We recently saw a nice push and it looks like this is more of a breather. I would no way would argue that this is um necessary for panic or anything along those lines. So now, let's switch it back up to amc. Fundamentally, today was very, very interesting.

So we have officially four green days in a row and, as i have in the red rectangle right here, we are finally at a region of resistance. In fact, today the high was a perfect hit off of this top trend line. That makes sense. We've been going up up up, we ran into resistance, the rsi was getting a little hot.

I was talking about this on the live stream that when you see things like that, it's common for things to take a breather. Basically, the rocket ship engine just got a big a little hot, like it's, not a big problem at all, no reason to panic what we're looking for. It is basically the rsi to calm down a little bit and then for like a second potentially a third test and a breakout, but we want to see it get above. This trend line around tomorrow, it'll be in the mid 38s and we still have this region from 40 to 42.

That's why i have this in a red and rectangle, because the breakout above that would be a very, very good occurrence for us in terms of the ortex numbers i'll go through this quickly. They borrowed just over 2 million and there was a net return of 4.74. The short interest is around 18 utilization around 92 in shares on loan after today, probably around 106 million, but i mean that's a lot 106 million shares on loan that could theoretically be short before i switch things over to gamestop. I do want to bring your attention to one thing and this kind of connects to how i started this off talking about the momentum, one of the biggest things that we've been seeing for a while now is amc, not much volume, not much volatility, and definitely not That much action in the options market, but things are definitely starting to change.

So this friday august 20th, there are the monthlies that will be expiring and that's generally, where you see more open interest, aka live contracts and remember: every single contract is aptly representative of 100 shares. So, for example, at the 40s, it's not 35 000. It's actually 3.5 million shares that that's representing that theoretically might have to be hedged for by whoever sold it. I say theoretically, because they're not going to have to it would be this if they hadn't right there, if they sold them and only sold.

That would be 3.5 million shares, but obviously they're gon na have to hedge on their net position. They might sell some buy some others. Obviously, there's a little bit more of math in there, but theoretically it could allow amount to quite a bit because we don't know the proportionate rate of like what is hedge for what isn't? What we care about is the trend. What is the magnitude? How many of these out of the money calls are going in the money so right there at 40? For this friday we have 3.5 million.

At 50 we have 1.5 million and really 50 all the way up to 75. These are some heavy hitting numbers and then, if you go all the way down to the 145s for this friday, we're talking about 6.5 6.6 million, and that's just for these this week, which are the monthlies. I highly implore that you check out the august 27th september 3rd september 10th and then right here, the september monthlies we're seeing similar stuff. I mean if you look at the 40s 3.5 million.

If you look at the 45s, 1.5 million uh, the 50s 1.3 million 1.4 million at the 60s there's a lot. A lot of action starting to pick up heavy heavy money and bets going into the out of the money, calls between now and really the monthly and september tons of money. Betting on amc basically going up now, i'm not saying it's always a perfect methodology to follow it, but a lot of the times you follow these big money bets. It could lead to your own p l going up once again, not a perfect methodology, but it is interesting to see how much money is going into the out of the money bets on amc, specifically the 145s.

This is another 6 million there, so between the august monthlies this friday and then the september monthlies, i mean we're talking over 12 12.5 million shares of exposure uh on a heavy heavy bet. I personally find that to definitely be interesting and i'm excited i'm excited to see how it plays out, and i have my fingers crossed that they all end up going in the money. Now, with reference to gamestop, it's ortex numbers, a net return of 118 000 short interest of 10.2 percent utilization of 40 and shares on loan of 6.74 million in terms of gme's chart right here, we're still still struggling at this 168 164 area. It we've been closing here, but we shoot up to 170 and it gets max.

I would love the breakthrough in the test of right, this key psychological level of 175.. It's really the region between 174 and 176, but it's just easier to call it 175 and from there. If we capture that, then i'm watching 188 all the way up to 200, but once again we're seeing some green days in gme. We just need to see some follow through, but overall amc, looking good gme, looking good crypto taking a bit of a breather honestly, it might lead to a nice buying opportunity and, if you're, paying attention to robinhood in the slightest just understand that after the market closes On wednesday august 18th it does have its earnings, so there could be volatility leading up to that and exactly after it as well, but overall, the main thing right now: amc, i'm loving the bullish, the apis momentum that we're seeing and i'm very, very excited for the Remainder of this week, but with that being said, i would love to get your thoughts on anything.

I talked about on this video in a comment below and if you want to help me out with that algorithm, you know about dropping a like subscribing all that good stuff, but, most importantly until i catch you next time for me and chair best of luck in The markets you.