What is going on moon gang? I hope that you're having a good one, this video will be a stock market wrap up for today, wednesday april 21st. In this video i'll be doing a fundamental and technical update for both amc and gamestop and then i'll be talking very briefly about the overall market and we'll take a little peek at dogecoin as well. Just so you know, as i'm filming this, the market has closed. Amc closed out the day at 9.78 and jimi closed out the day at 158 and 51 cents, just you know where we're at for posterity purposes.

Also, this platform that you see in front of you is weeble. The link is in the description below. If you sign up you'll get a free stock and if you deposit a hundred dollars, you'll get a second free stock, all right. So let's kick this off with some of the fundamental updates um.

This is kind of cool, so the soon-to-be ex-ceo of gamestop george sherman uh - we just got word of what his um basically goodbye deal is, is like golden parachute, 179 million um. I don't know if this will really have an impact on the company or the stock or anything. I just thought this was fascinating um. I would love love, love love to get 179 million dollars to basically get kicked out of a job um.

So that's! What's going on with gamestop that just came out today? More importantly, i think this one uh you're gon na like this. This is about amc. This is from cna finance. It is written by the author, joshua rodriguez.

I will make sure to link this article in the description below it's definitely worth your own. Like read your own due diligence, i just want to go through some of the highlights. Um pretty interesting, um bullish, article written on amc kind of lays out the certain situation. The lays out the main bearish argument: basically um the rona destroyed everything.

No one likes going to the movie theaters anymore. The hedge funds are super powerful, lays out the bull case of how actually rona revived the movie theater experience and summer's coming. A lot of black blockbuster movies are released during the summer, so we should see the bottom lines increase. Pretty cool lays out the bearable case.

On top of that, i just want to highlight uh some of the important things here. Given the chatter on various social networks, including the wall street, bets reddit, retail investors are gathering their ammunition, putting on their armor and gearing up for war, all told there's a short squeeze on the horizon. I just liked how this was uh kind of laid out for us, because some days, that's how it feels i feel like as us the ape community, the diamond-handed hodlers. It does feel like some days that, like legitimately we're going to some sort of weird, like cyber warfare, that's playing out on the stock market, psychological warfare - i thought, like i feel, like he kind of gets like the culture of this community and the world um.

The bottom line here is simple: amc stock represents a compelling opportunity, not only because retailers are sick and tired of institutions playing with their money, but because the company, even in the midst of a pandemic, has been able to maintain financial strength and because a major recovery Is coming for movie theaters, considering this the short squeeze is exciting, but the long-term prospects provide even more to look forward to so right there talking about both. It is interesting. It's cool! I! I recommend you check this article out. The author is joshua rodriguez.

I will link it below right. Here is his name. I will link it, so you can read it. Do your own due diligence on it, so basically uh cool article and then we don't the game.

Stop 179 million that that's crazy! That's awesome! Um! In terms of the most up-to-date short interest numbers another day in the stock market has come and gone another day and we see higher short interest in amc um after the market closed today up 0.36 percent. This is one of the, like, i guess, least, amount of jumps we've seen in a bit, but that's because, coming into today the utilization was a hundred percent. So what that means is the fact that the short interest change by the the net change was another 540. 000 shares those shares were not being lent yesterday they were newly lent today, and then they were right away put on loan um.

So as long as our utilization stays this high, if you're big banks, big pension funds, big hedge funds aren't offering their shares of amc. If they own them, it's going to be tough to push the short interest higher and higher, because there's amc right now is the definition of hard to borrow. Hence why the cost to borrow is so high so anyway, the current short interest is estimated to be around 23.34 utilization is 100 or the very high 99s and right now the shares on loan are about 152.5 million shares um. I was just saying that the cost of borrowed sky high, as of yesterday it was around 18.8.

If we're taking a look at fintel they're saying today it was around 26.68. It is sky high. Just to give you a little bit of a reference point, gamestop uh. Another one that has a short interest around 28.83 that cost to borrow is around 1.85.

So, like uh, i mean it's about it's more than 10 times greater to short amc at this moment in time than gamestop gme short interest actually dropped by 0.32. Today the borrow change: there was a net return, which means that the shares on loan are still around 15.5 million. Roughly remember amc has a free flow of 400 million shares so that 152 is pretty considerable amc or excuse me. Gme has a free flow of around 45 million and we're still coasting around 15.5 million utilization on gme, very, very different than amc's it's around 56.67 and the estimated short inches.

I think i already said this was around 28.83 um. As over the past week, we can have gmes has started or, yes, gmes has started to trend upward and really with amc. Its trend has been consistently upward ever since mid-march, just every day slightly and slightly and slightly higher higher higher. That's what we're seeing in amc, continually, uptrend and now gamestop is once again restarting that trend we're just seeing it start to bend upward.

So that's what's going on with the most up-to-date short interest numbers for both gamestop and amc. This is all from ortex. Remember these values are in no way reported from hedge funds or from prime brokers. Prime brokers are the institution that facilitates the loaning and lending from one to another.

Another aspect of their business is to sell their data. That's who ortex is getting their data from. They have coverage about 85 percent of all prime brokers, and that includes all major prime brokers, so there is an argument to be made that this 15.75, the 152 million. This is probably accurate.

If anything it's a floor, these numbers could be slightly higher, but the main thing is that this number is from prime brokers, not hedge funds. Another thing i want to talk about - and i talked about this briefly - but i'm seeing it still on twitter - this short volume uh. This is for yesterday's data amc traded about 27 million shares. The short volume was 8 million.

This to me is not a valuable data. Point out of those eight million shares we don't know which ones are legitimate: shorts versus just high frequency traders or market makers providing liquidity to the market that are in and out within nanoseconds and not really supplying any bullish pressure or bearish pressure, they're just neutral. It's liquidity, um and because there's really no way to discern what percentage of this eight million or whatever the short volume is on whatever day for any given stock. It's dirty data we don't know which one are legitimate: shorts versus high frequency trading shorts.

This is why i would say: don't this number doesn't matter the short volume doesn't matter. The key statistic, i think, are the shares on loan when you're kind of looking at the new shorts per the day. The ones are alone because, like really, why would you loan it and not short it theoretically, they don't have to, but i would assume i would wager that a large percentage of the shares that are on loan are also shorted, so uh. I think this is the most comparable but data point and this one's a bit more useful, but remember when you're looking at this at all, you need three values.

You need utilization, the percentage of the shares that are on loan that could be lent the shares on loan and then the estimated short interest. You need all three pieces of data to tell you the full picture. I guess the they're. All all three are important.

They tell you something different and they work together. The short volume data is not one of it. It's in my opinion, kind of useless data. So with all that being said, now s slightly switch up gears um talk about just some of the technos.

Just so you know the overall market uh a couple days ago on april 16th, did hit a new all-time high came down a couple days for two days in a row and now we're already bouncing back. I wouldn't be surprised if this momentum continues higher and higher. My next target is around 420 um. I think the overall market very, very real chance.

It can get there just be careful on the bottom. Here we have the rsi relative strength index. It measures bullish against bearish momentum when it's very high like this. That's a lot of bullish momentum.

It's also considered to be overbought um. Something can remain in the overbought territory for quite a while, but there's a good statistical chance that eventually it has to sell off just to give the rsi a chance to cool off. So right now it does look like the market is strong but um. I wouldn't i wouldn't be using all of my firepower at this point in time.

I would try to ride it up a little bit and then, if there's a moment of weakness, i would like to buy more. That's my personal plan moving forward. So with that being said, let's take a look at the 30-minute chart for amc right now. Amc is trading um, it closed out the day at 9.78.

Over the past week, it is up 4.6 percent from a technical perspective. We are now in a region of resistance from 9.75 to 10 10. This is a very obvious and a region of resistance that we've been dealing with for quite a while um, so i'm very, very excited for amc to finally be in here. I want to see how it reacts to 10 to 10 10.

I want to make sure it holds 975. above 1010 um at that point, there's a little bit of a trendline depending on how quickly it plays out. It might run into also the resistance at 1050 so somewhere between 10 50, 10 40, but in all honestly, above 10, 10. I would feel pretty good about it running to 11..

These are just my own opinions, i'm not a financial advisor. Obviously, you got to do what's best for you, but right now amc showed some serious strength. Today, it gained 5.4 percent, we're now in a region of resistance, and i'm looking for that continuation for the remainder of the week. On the downside, there will be a little bit of support around 940 and past that we have nine dollars, speaking of which now, let's move over to gamestop over the past two days, if you've been watching gamestop at all, it's been pretty boring right now, we're at 158, the closest major resistance i mean at this point.

You could say that this shelf right here will be resistance. 164. Personally, i care more about 168. On top of that, we have 185 and on the downside, in terms of support, there's an argument that the region between 153 and 150 support if 150 were to break.

I would then be watching 153 just so you know right now. We're trading at 158 uh pretty much flat on the day and over the past week, actually kind of the opposite of amc. It is down 4.8 percent. So that's! What's going on with the overall market! Amc gme and now uh, it can't hurt.

I know, there's a lot of people just having fun with dogecoin at this moment in time um. I guess before dogecoin. Just you know, as i'm filming this bitcoin is trading at 55, 000 and ethereum is at 2 400.. We could take a look at them.

Um right here. I've been watching this trend line on bitcoin. We are battling it out uh, i know bitcoin, the market doesn't really close, but if we were just saying to close the market today, if we use that as our 24-hour period, we did close below this trend line. So i'm looking for bitcoin to retake it pretty quickly.

If it doesn't, i would predict that bitcoin could fall to the region between 52 and 50 000. If it were to do that, i would be buying more bitcoin, i'm buying it on a schedule right now, but i'm saying i would buy even more this next time around, because i really like that as a region of support in terms of ethereum nice, nice bounce Off of 2150 - and it looks like right now, ethereum is on its way to test its all-time high, around 2500 ethereum, showing some serious strength, and now the one that's getting more attention. Recently, let's talk about dogecoin. So, after hitting 44 cents, we came down double top rejection at 42 cents from there it sold off and now we're just grinding sideways.

In the short term, we need to break out above 32 cents or break down a below 30 cents below 30 cents, i'll be watching 28.5 and fingers crossed that we break above 32 from there 33.5, then 35 cents. Those are the levels i'll be watching on really bitcoin ethereum, dogecoin, amc and gme for the trading day tomorrow. I would love to get your thoughts on all these things. Everything going on in a comment below don't forget that if you enjoyed this video, it would help me out if you could drop a like leave a comment.

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But enough of that, we just got to keep fighting the good fight. Just have a good time keep talking about good stuff that people are interested in and really, i feel like at this point, no matter what you're in you have to have high conviction, beliefs and trades, and if you're, just diamond handing it right now. I think some of the data that we're seeing is definitely in our favor, so i'm definitely definitely excited to see how this week plays out from me and chair and duck shirt best of luck in the markets.