Today is thursday february 24th and man, oh man, what a wild day, obviously, first and foremost on the geopolitical level it their tensions, have officially boiled over and in the about 24 hours ago. At this point that i'm filming it uh, russia decided to invade ukraine - and unfortunately has had has led to the situation of, i believe the most recent thing i read was officially around 50 to 60 lives have been lost, so all that link, even one, is too Many in this situation super super unfortunate and it led to at first a huge sell-off in the market, and then things completely turned around and it led to one of the most wild days in the market that i've seen in a very hot minute that many people Have seen so i want to get into all that i'm not necessarily going to be going into the details of what's happening on the geopolitical scale. We'll talk about it like a little bit, but i mean i'm sure, there's people out there with are that are far more in tune to it. That can give more um brief and turfs and like accurate updates to it.

So i implore you to go. Seek those out, but i want to talk about more of what happened in the market and i want to share an interesting story about citadel and melvin and its relations with amc and jimmy, because we do have a hot new update there, uh so for the apes. Yes and everyone else that cares about the market, we're going to be covering quite a bit in this update video. So with all that being said, let me just hop right into it.

No need to waste time, so the markets were nuts, but, as you can see from the point, the bell went ding any ding, ding ding. All it did today was rip, and on most days when you're seeing this much green, you might be looking and be like hey, that's just an awesome bullish day, but there's so much more going on um. I mean look at the end here. This is some breaking news, but hang on one second, so it was reported.

Photos show russia's invasion of ukraine and it was like all day and i'd like for a first day in a while. I did a full day stream covering the news, because every couple seconds there was new news to cover. It was an insane situation of. What's going on what city uh, we had reports of them like they're, apparently right now in real time, mobilizing to take on kiev.

They have apparently some people said they took over chernobyl, but the u.s didn't back that up and then boris johnson came in and he said we're going to hit them with sanctions, so did justin, turo, trudeau and other people and then uh. Even president joe biden, he was talking, they came in with more sanctions. Uh, it's a hot mess on the geopolitical scene. That's the best way to sum it up, and it is nowhere close to being done.

This will be continuing really for the next couple of days weeks, potentially months. No one knows, but it's a very, very tense situation, and i don't see de-escalating anytime soon. Uh is the us directly involved? No it's more of an indirect relationship with it, because right now nato is not involved, and everyone keeps talking about article five. Basically, when one nato member is attacked, we're all gon na go to war, that has not happened yet and obviously fingers crossed.

We don't want that to happen, so you might be seeing this and saying wow, okay, they're invading and putin's kind of going back on the things that he he said he was going to do and like it just got so out of hand. So quickly. Eu says slap more sanctions on russia. Anti-War protests are breaking out in russia.

It was just an insane news story. I mean you could check this out and it could take you a bit to read this just to have one person's take on it. So so much going on and then all of a sudden you're like wait, what s p 500 rises on investors shaking off russia's invasion of ukraine, nasdaq pops, nearly three percent dow slashes 859 point loss and right here, the one that just broke as i was starting. This s, p, 500, closes up 1.5 percent.

What what? How does any of that make sense, and that's a great question? How does it make sense that the spy in one day, let me just make sure i'm lining this up right - is down it gaps down 2.7 and then the rally is a 4 and we end the day up 1.4 or let's take a look at the nasdaq. We open up a gap down of 3.2 percent throughout the day, it rallies 6.8 and we close up 3.36 or in the russell similar story. We gap down 2.6. Throughout the day we rally five and then we close the day up 2.6.

That's nuts, the gap down. Basically, because we're looking world war three in the face and then all of a sudden people like, ah i want to buy now i'm saying that a little bit facetiously and i'll do my best to explain, but it is a weird situation. This isn't one of those things that you can look at and be like. Ah, i should have looked at it that way, it totally makes sense.

No it's just kind of like well. How did the market break? What does the general organism of the market like think is going on, and i think what a lot of this is is, as we've been trending down, uh you're gon na hear the terminology of like oh, it was pricing. People have been pricing it, and not only in the market, but also in the energy sector. A lot of bets of the uncertainty of are we going to go to full-fledged war and then, especially when biden was talking uh, the uncertainty of was he gon na say something that nope us sign us up.

We're going to war that didn't happen and then all of a sudden, like we kind of popped in the morning, it was grinding and then, as the news for the day and the escalation from a military standpoint across the world. For the day, it became evident that it wasn't going to get more escalated into the second half. That's when we really started pushing and as you're about to see i'll show you the short interest numbers uh s, p, 500, 7, the nasdaq 13.8 and then the russell 39. There is a shot that some of the market shorts actually got squeezed.

Here, that's a very legitimate thing and we'll know more in two days because remember it's a two day settlement cycle so to know if some of these shorts actually got squeezed out the earliest they're going to return in two days. So that's something very, very real to consider. The other thing i want to talk about here is, i don't know if we're necessarily out of the woods, i didn't buy this dip and i don't really have plans on buying it yet because, if it is the dip to be bought, that's putting the play in, Like the hands of putin right now, i don't know what he's gon na decide. If this is it okay, yeah we'll most likely bounce from here, but if he has further plans to take over ukraine or maybe potentially worse, do something outside of ukraine.

I don't think that this bottom across the market is necessarily the actual bottom in the short term, and i don't want to put my bet based on the president of russia right now. That's just my opinion on the situation. Obviously, i'm not a financial advisor, i'm not a fortune teller. You got to do what's right for you, but for me, i'm a little bit hesitant and i'm still thinking that there might be a scenario where the market is quote unquote rugged.

So i just want to share those thoughts, but on a little bit more of a positive note, look at amc and jimmy it's interesting with all this insanity when things were still very red. This morning, amc was one of the first things to go green and then gme wasn't too far behind, but look at amc. It popped and went sideways popped again and then jimmy popped, grinded and then grinding grinding grinded, but amc closed out. The day.

Uh 1768 gained 12.4 percent jimmy closed out the day at 124.60, which is important because 125 is major resistance and that was up. 8.5 amc and jimmy crushed it today there were many things that started out very red and then made it back into the green, but there's actually multiple. Above 10. I mean right here.

Prague and rivien were also ones above 10.. So definitely shout out to like the ape nation, supporting amc and jimmy that was impressive. Also could potentially relate to some shorts, covering just like, despite the cues in the russell uh amc short interest of 21 utilization, still a hundred uh gme short interested 20.5 utilization. Still, a hundred so that's potentially explaining some like, i said, we're not going to know uh the earliest that any of the shorts who covered today, thursday february 24th, the earliest you're gon na know about if they covered, is when they return shares in two days.

That's the earliest. They could do it um, so we're gon na have to wait to see if they did or didn't. Is this good old-fashioned buying? Is this fomo buying uh? Is it a mix of the two uh it's gon na take a little bit of time to know, but overall definitely repping some serious strength, so just wanted to kind of give you an update of a little bit of geopolitical. What was going on a little bit about the overall markets and amy and jimmy here, but what i really want to dive into wait? Oh part of this with the market uh.

I came across this interesting thing: vietnam, war, gulf war, iraqi war and crimean crisis um. Before when i was saying okay, is it priced in all that type of stuff? There is a little bit of historic precedence: 1964 1991, 2003 2014 of the quote: unquote invasion, which that's what the articles were this morning like russia invading ukraine, this concept of buying the invasion over, at least on these four data points and granted. I get it. That's not many data points, but over these four it actually was a bullish buy signal.

Will it play out this way this particular time i don't know. I just wanted to share this with you, because i think it does have some historic relevance, but a little bit more related to the world of amc and jimmy and our boy kenny and our boy gabe at melvin. This was reported today by the wall street journal citadel is further paring back to billy melvin investment, as in taking it out citadel, also redeemed half its investment in the hedge fund in 2021. So that's our boy, kenny griffin.

He owns citadel and citadel securities and he's not that well liked. Citadel llc is further paring back its 2 billion investment in melvin capital management after the hedge fund stumbled in its efforts to recover from a near collapse triggered by surges in gamestop and other meme stocks. Early last year, so basically, if you rewind a year from this point, melvin capital had an outsized bet against gamestop. They got blown out of the water lost over 50 percent and between the likes of ken griffin at citadel and steve cohen, at 0.72 they kept melvin alive.

They hit him with money, they injected money into the hedge fund and then they kept it alive and people are like. Oh okay, that's like kind of weird like that seems a little sus like. Maybe someone should look into it, but even that investment alone of like the sus nature like outside. Let's talk about that on a different day, even on this one, not the best investment, because we know in january they already had a double-digit loss in january of this year of 2022.

uh. So people are like well hang on, like that's just like kind of a losing cause to be saddled up with the likes of melbourne. Citadel in late january, asked to redeem half the money. The firm and its partners have left in melvin's hedge fund after originally having their investment late last year as melvin, racked up double-digit losses for the second january in a row having a really really rough run over the past.

Like 14 months uh people familiar with the matter said, the latest redemption request would be paid out at the end of march citadel and its partners invested 2 billio in january 2021, alongside 750 million influx from stephen cohen from 0.72. In exchange for a share of melvin's fees over the next three years, citadel founder ken griffin wasn't happy about medlin's losses. This january, some people said well no double digit losses in like one month, and he in this scenario, wasn't even getting messed up by shorts. Crazy stuff, it is possible citadel, would have redeemed, even if melvin had performed better.

I doubt it if you're performing well. Why would you take your money out citadel? Rarely maintains significant investments with outside managers and it's known for being opportunistic um when it comes to being opportunistic. He, in my humble opinion and just mine. This is not a legal statement in case you're watching ken.

I think it was opportunistic for himself. I think somehow it was beneficial given the craziness of january 2021, when the whole gamestop saga went down. I think somehow he was covering his own ass to bel to bail melvin out. I don't think it had anything to do with him caring about melvin whatsoever.

I really don't or on the other hand, maybe this is a new play where ken griffin knows something we don't and he's looking for a scapegoat in the matter and that might be melvin capital. Now i don't know, but i think this is something a little bit more than like: oh yeah melvin they got unlucky and we're gon na invest cause. We think they're gon na bounce back. No, they didn't the second january in the row.

They lost money. So i think the story is a lot more deep and has a lot more extensive root system than we're actually being led on to believe about it. But i just want to share this story because it did get posted by the wall street journal today and obviously there's a quite a bit of interest between ken griffin, amc, jimmy gabe block and melvin. All that stuff, but it looks like melvin - is losing some of their their book value, some of their equity, some of the money that they were at one point given to manage.

So i would love to get your thoughts on that, but also give me your thoughts on the crazy bounce back in the market today. Do you think the bounce is going to continue, or do you think that this is more of a rug, setup, obviously specific to the spy, the cues in the russell? Let me know all of your thoughts in a comment below uh. Thank you. I appreciate it.

If you haven't already don't forget to hit that like button and join up by hitting the subscribe button um, actually i want a shout out. We haven't done a full day stream in a bit, and i just want to say thank you seriously. Everyone had good vibes. This was a very, very long stream, so shout out you.