What is going on moon gang welcome back to another, dumb money update for today, thursday october 14th and boy, oh boy, what a great day to be in ape as always, but today was exceptional lots and lots of green in the market, so in this particular update Video i'll be talking about a little bit about the overall market, a little bit about crypto and then we'll be diving into our two favorite moon stocks, both amc and gamestop. Let's hop right into it. So, just for a little bit of foundation, amc had a phenomenal day for a couple reasons. First of all, had a nice 5.7 gain closed over 40 dollars, which was a close on pretty nice volume.

The volume was 67.4 mil the average volume over the past 10 days was 41 mil, so we're exceeding the average volume and we closed over a key psychological level. Very, very good ng me not as good today pretty much net neutral 184. But if you look at its daily chart, which i'm going to show you in a little bit, slowly but surely climbing up now before we get into the details of these two moon socks. Just so you know the overall market had a very nice day.

In fact, one of its biggest gains in quite a while the s p 500 tracked by the etf spy gained 1.7. We closed this gap from the low of september 27th. We've been talking about that for a bit. If this momentum continues, i am watching 445, but be careful, because now we have a gap to the underside at 436..

In terms of the tech, heavy etf, the qs, the nasdaq 100 same thing. We have a gap to the underside, so be paying attention to that. But we closed on a nice breakout of 365.70. The next thing i'm watching is basically 368 followed by 370, but as you're going to see common theme, even the iwm, the russell 2000 right here, very, very nice, so also a gap up.

So please be careful of the gap below it. We close right at the resistance of 226 if we exceed this, i'm watching, basically, 228 and after that, if we have a lot of bullish momentum, let's watch 230, essentially so green green green across three of the major indices. Question of why well remember: we are kind of going from risk off to risk on because we are figuring out the debt ceiling issue. Remember the house and the senate both pass that and we know the president's gon na sign it.

It's just a matter of time, but on top of that jobless claims came out today and very good report. Jobless claims fall below 300 000 for the first time since the pandemic began jobless, claims totaled, 293 000 for the week ending on october 9th, which was below the estimate of 318 000. So this is very good. Jobless claims going down.

That's exactly what we want to see so and also just you know: wholesale producer prices increased by 0.5 from september and 8.6 over the past year, the latter being a fresh record and reflective of ongoing inflationary pressures. The reason i bring this up is because we're hearing more and more about prices going up, labor going up supply chain issues, high demand, low supply, a lot of it, and if you talk to these big bank heads and also the federal reserve, they're going to be Talking a lot about hey, it's just transitory, don't worry about it! It's only here for a little bit uh, but slowly, but surely we're seeing some people kind of whine back on their comments, because we don't know how bad this inflationary situation is really going to get. So it is important to talk about certain ways to protect the value of your money and it might not be best to be in usd if there is a inflationary or hyperinflationary environment which is bringing up more discussion about good old bitcoin bitcoin. A lot of people calling it digital gold and i do have an interesting commentary.

I want to go over with mark cuban uh who's, clearly bullish on crypto same with michael saylor same with elon musk, but from a technical perspective. Bitcoin is looking very, very strong. This beautiful bounce off of 41 000 on september 30th, all of october bitcoin, has been ripping ripping higher my next late major level of resistance that i'm paying attention to just below 60 000. So that's my first target and the closest support around 54 000.

I also want to talk about ethereum beautiful day in ethereum. I asked chat today, one of your favorite cryptos. A lot of people were answering ethereum today it hit a resistance around 3800, which was previous support in the start of september. If we break above this fingers cross, i'm in ethereum myself, i'm in bitcoin myself, i want it to go higher.

Look for that breakout and then watch just above 4, 000, and just so you know above 4025 that sets up the all-time target of basically 4 400. But major crypto, i'm talking about bitcoin ethereum, looking very good and also don't sleep on other things such as cardano solana, some of these major, the equivalent to blue chip stocks, but within the crypto sector and speaking of mark cuban, very very bullish comments to be made On the crypto sector mark cuban says, ethereum has the most upside as a crypto investment. This just came out could be part of the reason why eth had such a good day as an investment. I think ethereum has the most upside and bitcoin is better gold than gold.

Cuban also recommends dogecoin for fun. So right there ethereum most upside bitcoin is a good hedge, better gold than gold and hey. If you're in it, for the lulz he's saying to check out dogecoin remember he does have the connection to the dallas mavericks. He owns it and actually they're the biggest dogecoin merchant.

As i'm filming this, the smart contracts or collections of code on the ethereum blockchain really changed everything so he's looking at ethereum from the utility standpoint. He really likes the the dabs, the decentralized finance the nfts he likes the utility that ethereum provides, and i would take this one step further. There are other blockchains that also have very impressive smart contracts. The first two that come to mind are cardano and solana recommend checking those out.

He actually said he wishes. He got into eth sooner. Cuban also repeatedly called bitcoin a better alternative to gold due to its algorithmic scarcity, since only a limited amount of it exists by design. Remember there was that bank head that was saying, hang on does.

Did anyone check the code? Yes, many people check the code. There is scarcity to bitcoin. That's why a lot of people say it's actually a better goal than gold, including obviously mr cuban and though dogecoin had was initially created as a joke. Cuban sees a unique use case for it.

It's a medium that can be used for the acquisition of goods and services. The community for doge is the strongest when it comes to using it as a medium of exchange, so right there. I do find it particularly interesting that he's also bringing up the commentary of having a large community and the support of a community, because i think the rise of 2021, at least in the markets. It shows that there is a special premium traded around community dogecoin.

Obviously, large community shiba army growing as a community amc and jimmy the world that i'm very much intertwined with myself massive community this year in the market shows that you cannot undervalue community. Speaking of amc shout out to binzinga. This was reposted on yahoo. Finance amc is bouncing off of support and starting to head higher again very much so so pretty much ever since september 28th range bound between 35 50 and let's call it 39.

Well. Today we broke above this particular level of resistance. 38. Let's just call it 80 broke above that and then the key psychological level of 40..

If you've been watching any of my update videos, this is one of the first levels i've been calling out ever since the breakout and that's exactly where we closed today and as i talked about at the start of this on very nice volume, we exceeded the average Volume i, like the volume pop i like that the macd the moving average convergence divergence crossing over to the i mean, look at it when this thing trends, amc is a nice trending stock, a lot of bullishness bearishness, bullishness bearish. Well, today is day one of potentially an entire new bull trend, very, very exciting lots of reason to be pumped about what's going on so from here. Obviously, we are looking for 40 to hold and from there we're looking for the breakout of 41.85. That was a rejection on september 30th or rejected on september 23rd.

From there we are looking for a vacuum, basically straight up to the gap fill at 44.20. I've been saying this now for a week or two: that's that's what i'm looking for in the short term, i'm looking for a gap bill up to 44 20, which was the low from september 17th in terms of the hardcore metrics. They borrowed. 1.13 million shares against amc today with a borrow change: a net of 408 000 that puts the short interest just below 18 utilization 87 shares on loan after today, probably around 114.5 million, and just so you know when it comes to the world of shorting.

Obviously, you have to loan the shares from someone, and that means you're paying a cost to borrow fee right now. It's about 1.3 and they've been in this for two and a half months 76 days, so they're positioned. If we have a green day or a neutral date. It is a bad day to be short and a great day to be an ape because they are hemorrhaging money and finally, just so, you know, in terms of the options market, very much agreeing with the movement today, the bullish premium, the bullish flow was almost 54 In favor of the bulls in favor of the apes, now let's talk about gme, so it was a net neutral day for gme closed at 184.

But clearly this momentum is undeniable and to check out the macd moving average convergence divergence. Also, it trends, maybe not as much as amc. We see a little bit of a hiccup in here, but overall, a pretty solid, trending stock. Well, we had a bearish trend and now day, one of a bullish trend.

The golden question for both amc and gme is: how much is the trend going to go? How strong is it? How long will it be here? So that's what we're watching right now i like this trendline breakout back in early october, the breakout of 175 clearly rejected at 190. on gme. Specifically, i've been calling out 188 to 190, clearly a region of supply. We need enough demand to get above that from there.

Potentially a little bit of a hiccup at 196 and then very interested in the key psychological level at 200, very similar akin to the psychological level of amc at 40., the psychological levels day, traders swing traders. They seem to be attracted to these magnets. It's just a human thing of buying and selling at these nice round values. That's why i'm specifically calling them out in more of a little bit of a fundamental development, not really fundamental, but a social development for it.

Slowly but surely jimmy is being mentioned more and more and more on the wall street bets subreddit and as it's mentioning more we're seeing that the price is uptick, so maybe worthwhile to check it out on swaggy stocks to see if it's continued to be mentioned there. In terms of the ortex numbers, they borrowed 344 000 against it for 89 net. That puts the short interest just below 12 utilization 37. The shares on loan after today, probably around 8.5 million, and just so you know the average duration of these shares on loan.

Paying about a fee of 1.1 percent has been in for a month and a half over a month and a half coming in at 47 days and last but not least just so you know the premium it it was bullish. I mean the bulls the apes showed up also in the options market coming in at 54.6 percent so overall, great day to be an ape great to be in markets. We saw a bunch of greens, the overall market, green amc and gme a lot of crypto green, green, green, green green. What else be a beautiful day to be named? So with all that being said, i would love to get your thoughts on amc, gme, bitcoin and ethereum in a comment below, and i hope you're excited as i am.

If you enjoyed this video - and you want to help me out the algorithm, i would greatly appreciate if you could drop a like leave a comment, and if you haven't already don't forget to join up with the moon gang by hitting the subscribe button, it is 100 Free and until i catch you next time for me and share best of luck in the markets, you.