Gains Are Back on The Menu
(AMC, GameStop, ANY, PROG, Bitcoin, Ethereum, & Polygon)
Dumb Money w/ Matt Ep. 105
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We hungry and i eat crayons every day with my friends, i think about kenny in his ivory tower, shaking in his lily boots. As stop breaking give us the fucking money, my sisters and my brothers, the fathers and the lovers. We don't need another fan because we huddled through hard times fucking money, hey happy friday. What is going on abes good morning, good morning, moon gang happy friday, october 15th.

I hope you're having a great one good morning good afternoon, good evening, good night, good. Whatever you want it to be, i hope you're having an absolutely phenomenal one. We are here to close it out this week, we're halfway through the month and we're here to close it out in a very, very bullish, apish flexing manner very, very excited today, always loving fridays, music, fridays party, fridays, whatever you want to call it, but we are Here, for a good time, and as you can see from the title on this stream gains are back on the menu. They are definitely back on the menu very, very excited so before we get into like the breakdown of what you need to know going on today.

Amc right now, hanging out at 40.. Remember 40 is a key psychological level, we're looking for it to hold it. I don't know if it will, i don't know if it won't. I just know if we do and we're then watching after that 41.85 for a nice technical breakout which could lead to a gap fill, but i will dive back more into that in a second gme.

We are looking for the breakout of 188 190 from there. It could set up a very nice test of 200 but, like i said, i'm gon na get more into that, but we do have some other big movers to dive into uh should be a very very exciting day, so just to get everyone a little bit like Prepared a little bit of foundation on the day, here's what you need to know wall street on track for winning week on strong earnings very much so so couple things i want to talk about here. First of all, remember when i've shown you the seasonal patterns by the time you get to through the first third, the first half of october. The seasonal pattern is bullish, so seasonality right here definitely coming into play.

That's a positive thing, but on top of it many many banks and insurance companies. Health insurance company have been reporting their earnings and pretty much across the board. They're all beating the most recent one to report was uh goldman sachs and their earnings per share. They beat by like four dollars per share and their revenue they beat by like two billion dollars, so lots of big banks doing relatively well and also those health insurance companies.

So, with a lot of big juggernauts like that reporting, obviously that's making people a little bit more excited bitcoin, nears 60 000 on hopes of first bitcoin futures etf uh. This is actually very, very important and it's pretty interesting. So i'm gon na send like spend a little bit of time on that afterwards, let's come back to it, retail sales out before bell. After this week's hot inflation data retail sales, excluding autos, our forecasts have risen by point five percent compared with an august advance of one point: eight percent: well, we actually did better and it could relate to why the russell 2000, the queues in the spy all just Popped at 8 30..
A lot of these reports come out at 8 30 in the morning and retail sales unexpectedly gained in september as consumers keep spending consumers spent as much faster pace than expected in september, defying expectation for a pullback. The census bureau reported friday. Those numbers actually now, as i'm filming this - they probably are specifically out, but we beat there - are more people spending. So that's, obviously a good thing, as you can see right here, live fda advisory panel to vote on j j, covett booster shots fda panel.

To me on j j booster after recommending modernist, so the moderna thing happened yesterday: the fda vaccine advisory committed to set to meet friday today to consider a booster shot on j j's, one dose covid vaccine on data and mixing and matching shots. So i looked into a little bit about some of the results coming in about mixing and matching the different shots, and people are saying that it is actually improving the efficacy. The panel yesterday on thursday unanimously recommended giving a booster of modernist two-dose covid vaccine to people 65 and older and other vulnerable adults uh. We know that this already happened pretty much last week with pfizer, so it seems like modern and j j are following suit and just for those people who are specifically interested in space strategy through virgin galactic taking a hit this morning, the ticker symbol for richard branson's Virgin galactic is spce and it's delaying the launch of its commercial space tourism service until the fourth quarter of 2022 we're talking another year from this moment in time.

Obviously, that's not being received well whenever, like virgin galactic, that's kind of over the past couple years been one of the issues. Is they are these big milestones? They seem to continually have to push them out from their initial date. Obviously, the stock market's not really gon na like that one. So that's your setup kind of on the overall market, nothing too too crazy.

Maybe a little bit of development would be nice on if the president is or isn't going to sign the debt ceiling bill. That could help things out, but other than that i mean the evergrand situation. Uh chinese officials have said that it is completely con under control and like not really need to worry about it, um. Yes, they did default on some of their extra stuff, but it does seem like that entire evergrand situation is playing out in terms of the federal reserve.

A lot of the things that came out in their minutes has been already consumed by the market and it's just very much what people expected. We know mid november they're going to start tapering, but it's all happening the market. I think one of the best ways to think about it is what's known and what's unknown, even if it's something that's bad, but it's fully known, that's better for the market um. So as we're getting out of this territory of unknown things.
What's going on with the debt ceiling, what's going on with fomc, what's going on with evergren as we're truly getting to the bottom of it, of like the market of everyone being on the same page of how things are going to play out generally, the market likes That it doesn't like unmitigated risk. So with all that being said, let's talk about crypto crypto could uh could be spilling? Some stop? Excuse me. Bitcoin crypto in general could be stealing some spotlight right now, as you can see, it's going up to 60 000 very exciting, and it's all in the hopes that u.s regulators won't stand in the way of the first bitcoin futures exchange traded etf. That's the fund is set to begin trading tuesday, so right after this weekend.

Basically in four days, the sec can object to the final until midnight on monday, but i do have a bit more of the development on that specifically for you, bitcoin, obviously spiking. So bloomberg reported that the sec will not block the etf. The sec is reviewing around 40 different bitcoin etf filings with multiple decisions, deadlines on futures link products hitting next week. According to bloomberg, the regulator expected to approve at least some of them clearing the way for trading to begin.

The sec does not need to take any formal action to approve the filings under federal law, applications can become effective and the sec allows a mandated deadline to pass without requesting changes or directing the aspiring issue to pull the filing. So right there, the the the d-day, the clock it's monday at midnight, other than that it looks like we are full steam ahead with some bitcoin cryptocurrency based etfs starting next week. Yes, that is a very, very big deal for crypto. That just shows us regulators, us the sec, i'm sure the finra is going to be involved, just our political leaders here in the u.s with that etf.

That's one of the biggest things, and i know that there's been some naysayers about crypto the jp morgan, ceo gellen herself uh, i mean the entire, like political party of china is against it, but with them allowing it. That's flagging that regulators we're getting closer and closer to mass acceptance in the us front, which is a huge deal and that's exactly why exactly why we see bitcoin absolutely ripping right now. I have this resistance. At 59 500., we pretty much got smacked there right like we're talking about 60k.

It's high look at this. It's high was perfectly 60 000. If bitcoin can break out about that, like that, that's so incredibly good for the entire crypto sector, um it this rally from 40 to 60. I mean that's a 50 gain ever since september 29th, two weeks, if you were invested in bitcoin for the past two weeks, just october of whatever's going on over the past month, you would have had a 50 game, which is that's just so incredible and really we're Seeing some other cryptos really react pretty well to the news, so we have ethereum bouncing off of 3400 up to 3800 ethereum looking good, but one that's doing abnormally.
Well. Right now is polygon. The matic network look at this explosion from a dollar fifteen up to a dollar. Fifty two just so you know all the ones you see on the screen.

I am long in i'm invested in bitcoin, ethereum matic, and she, but what's going on with polygon, and also you can see it right here - it's actually uh trending, it was trending, hang on, show more um matic right here. Hashtag matic was trending, shoot that just disappeared, but hashtag matic is trending and it's honestly because of how much it's running right now. But if you haven't heard of matic, if you haven't heard of the matic network, if you haven't heard of polygon what you need to know about it is it's all about scaling aetherium. So if you like ethereum right now as we're all patiently waiting for ethereum 2.0, it does have it's expensive, the gas fees, the i believe it's pronounced quay, it's expensive, it's it's expensive to do any transactions on the ethereum network and it's also the scalability of it.

This is where polygon comes in because it can make it cheaper and it can help it scale faster. I'm talking ethereum has the ability to do about 15 transactions and, with that same unit, polygon, a lever, a layer scaling built on top of ethereum can scale it up to tens of thousands, so it makes it more efficient and it's far far cheaper. So that's just like your quick rundown on it um with it. I just want you to know the very very cheap helps improve.

The efficiency helps brings down the cost um and if you really look into matic thematic network, you can also need to know a little bit about dagger and with it uh, basically any blocks transactions events, that's where dagger comes in once again, dagger's built on top of The matic network and just think about this uh one way you could use it is if there's some giant whale buying, a bunch of crypto or stock. You can use that to trigger an event, and then you get an email. So that's like one technology, that's built on it, but that's not necessarily while it's moving right now. This news is actually kind of interesting matic right now the transactions are plunging and it does get interesting of why, but basically the creator of it, the founding team.

They are upping the cost and they're trying to get rid of the scam, because it's so cheap and it's so efficient. There's right here. The matic network has increased the transaction fees 30x from a default value of one way to a minimum of 30.. So the costs are going up and the co-founder is saying the necessary to deter spam transactions on the network.
So with that going up, you see a huge drop-off, because it's getting rid of spam um, but also people are like well hang on. Why, like it, we don't want to pay more money, that's not the best idea, but the other thing it has going for it is. It was just released in the south korean cryptocurrency platform a bit so now that it's there, we have a lot more people that have access to it, and that is probably uh part of the reason why matic is running so much uh. So, specifically, just a little rundown on polygon when you think of polygon, when you hear matic just think hey, while we're waiting for ethereum 2.0 right now, it's a it just helps ethereum scale, it's cheaper, it's more efficient! That's where, like on the highest level, polygon, really fits in, but other than that crypto's.

Looking strong right now, specifically because of bitcoin, and it sounds like we have movement in the world of the sec of letting them finally go through with a bitcoin based etf. And i know he's not our favorite, but our. I believe some of the most recent commentary from jim cramer is that if that goes through, he would sell half of his holdings and get into a bitcoin based etf and i'm talking about her boy, jim cramer. So that's what's going on in the world of crypto very quickly since we're talking about uh some of the positive news related to the retail spending.

Let me get rid of that. Uh, we're obviously seeing another gap up kind of interesting two days in a row. Uh just so you know, yesterday, october 14th was one of the best gains. The s p 500 has seen in quite a while, but anyway uh looks like we have another gap up this morning, i'm looking for the breakout of 445.

That is a key level of resistance if we are fortunate enough to break and hold that, i am then closely paying attention to 447. These are the levels i'll be watching in the spy. Of course, if there is some weakness, i'll look for support to be found at 442, or maybe just the gap fill from the high yesterday at 4, 46 below that i will be watching 438.60, which is the low from yesterday, and if things for some reason, turn Uh in the short term bearish, then i'm watching the gap fill at 436.. Remember when it comes to these overall indices gap fills are very, very, very prevalent uh.

So whenever i see some weakness in the s p 500, it's going to get me interested about this gap fill from the high on october 13th in terms of the qs uh, a smaller gap up, but a gap up. Nonetheless, looking for the breakout of 368 from there, paying attention to 370. still be mindful of the gap below it in terms of the russell 2000, a very nice gap up. In fact, we are gapping up above the high of september 27th.

If we can hold this gap, it is putting 229 230 into play, which is the high from september 2nd and from there we're talking about the 230s. This is extraordinarily good for amc. Just because remember amc is the biggest stock within the russell 2000, so they don't have to move in lockstep, but there's a very good chance that their movement is going to be somewhat related. So this is very, very good uh.
When you're talking about small cap iwm, the russell 2000 uh, there's going to be an overall, also additional influence when we're talking about amc very, very happy to see that speaking of amc before we do that technical breakdown, let's talk about the numbers from ortex they've already Borrowed 557 000 shares against amc today that puts the estimated short interest at 17.7 percent. The utilization is 87 and the shares on loan is now probably a 114 million, and just so you know the average age of these shares on loan very, very high 77. In terms of the technicals, so we had that nice technical breakout and we closed above 40, which was a huge win for the amc apes. Let me throw up the macd just so i could also show you this.

We also got the macd crossover. This stock does like the trend, so the question here is ever since september 29th the bulls have been building momentum and were now officially in a bullish trend. According to this technical indicator, the golden question is: how long will this trend be sustained uh? I hope. Obviously it's forever and ever that would be awesome, but in terms of the short term, we're looking for 40 to hold and we're looking for the breakout of 41.85.

That would be a very noteworthy technical breakout, because i think there would be a vacuum gap seal all. The way up to 4420 fingers crossed in the short term, obviously 40 will be support, and now the high 38s will also act as support in terms of gme. It's been rejected multiple times between 188 190. Clearly, there's a lot of supply going on at that level.

We need that breakout. The closest support, i would argue, is 175 at least on the daily chart. So those are the levels i'm watching on the upon this breakout of 190 i'll be watching 196, but i really care about that psychological level at 200.. In terms of the numbers on ortex they've already borrowed 18 000 against gme.

Today, the short interest is up to 12.3 percent. The utilization is 36. The shares on loan, 8.8 million and the duration of these shares on loan in terms of the average is around 44 days, so that is where we are at. Let me just get back to this market.

Still, looking pretty nice iwm looking green, the spy looking green, we know the queues are looking green. It kind of feels like yesterday, where there's just a bunch of green in the market. Obviously we have to wait. My bias going into market open is obviously a bullish.

One, but we have to just wait and see how this all truly does or doesn't play out. I want to see for that market acceptance right at market open, but i i'm excited for this friday. Uh, like i, like i titled this, i think gaines are back on the menu. I would love a repeat of yesterday, just another great buying green uh bullish risk on type of day and honestly, with some of these announcements that we are seeing from more of like a macroeconomic perspective, things are looking nice in my opinion, so i think that's my Bias heading into it, but let's wait for that confirmation at market open, oh yeah! I forgot about this: isn't it uh griffin's griffin's birthday? Isn't it uh our kenny bowie's birthday? I wonder if he's gon na call me today, i don't know, maybe he's busy with his birthday activities.
Maybe he isn't. I don't know, but it would be funny if he could call him. We could all wish him a happy birthday goof morning duck lord make it a great day shout out jaymar. Let's get this bread shout out, cootery bro, i know you're upset, but i did tell you girl also happy birthday enjoy it next one will be in jail.

What is going on what is going on? Let me get to some of your questions. Let me give you back these last 10 minutes before the market goes: ding, ding, ding. What's your opinion on bbig price target, uh who's price target? I don't know whose price target you're referring to bbig had a great day yesterday, uh upon this breakout of 730 770. It closed at 8 30 and it's right now still above 8., i'm watching 950.

Next, that's my next level on bbig, but it's looking strong crypto keep ripping one minute cup and handle crypto is just it's looking so strong, oh in terms of the sheep. If anyone listening right now is a part of the sheba army, you are looking for 24 to hold clear support. You also do have additional support right about at 20., so you're looking for the support to hold that 24, if it doesn't pay attention to 20, but upon this bounce you're, watching this trend line and then the breakout of 30.. We had this fake out breakout on october 11th.

Couldn't hold it uh 30 is the major i would argue line in the sand for, like the bullish momentum, to continue look at this bitcoin's about to get hit 60. 000. Again. That is awesome.

I want to set up an alert uh ad alert: 60. 60. 000.. It's gon na! Do it it's gon na.

Do it gon na? Do it only once all right? I think these might be extraordinarily loud, so if it does hit, i'm sorry if it blows out all of our eardrums um i'll i'll try to lower this. What was that that was weird um, but anyway uh bitcoin, i mean - and it's just all related to this etf thing, which is. It is obviously very exciting news, but let's get rockin. Let's get rockin, let's get rockin all right, all right, iwm, so strong.

Let's sorry, let me drop to the one minute and then i'll get back to your questions as we're getting pumped for the market today, we're gon na see them attendees dem tendees uh shout out rick uh shout out hugh g becoming an astronaut. I appreciate that very interesting, this etf, but think holding the actual coin. Btc eths is better pros and cons play the ape hit have a great day brother, big shop, i'm actually right there with you uh very much right there with you. I mean i to me it's so easy to get a hold of crypto directly.
So why would i just not uh the etf? I mean? Maybe people don't have the like those, i guess crypto exchanges or brokerages set up, maybe just is easier or maybe if people want to play calls or puts on crypto. That could potentially be an advantage, but i myself i'm directly in crypto and if you want to be in crypto, the uh coinbase is pinned to the top of chat. Also, there's that the link to voyager there's a link to gemini, coinbase, gemini and voyager are all ones i have money on. I like all three.

I use them for different things, uh, but coinbase. That's a very reputable exchange. That's the one! That's trading under coin! It's the biggest crypto exchange, definitely in the uh. So if you want that it is pinned to the top of chat.

I myself, i mean i've been trying to point out the technicals of how good crypto's been looking lately uh. I find that matic move uh, honestly, very, very surprising, but now we just we're getting a nice potentially cup and handle set up. This thing is just ripping uh there's money to be made in various aspects of the market and while we're waiting for the moas, i see no harm in making money. In other things, because that means you could load up more on some of the initial investments that you like.

What's your take on bbig squeeze setup nice and there's a nasty gamma ramp on the chain um. So i know that the chain is built out uh for sure, which is interesting, but it's still in my opinion. You need to clear that 915, like i just always play it from level to level. So, oh sorry not 9 to 15..

I believe. That's for ater. For bbig 950 and then i'm watching 11, i'm just simple like i do things very, very simply. I play it from level to level to level i'm not here.

I do not think it's a good methodology to simply go around hunting for all these short squeezes. I don't i really really don't. I think the commonality of them is very much overstated. Um to me.

Maybe i see a nice swing, maybe you get lucky and you get a part of a like an overall squeeze but um. I think people very much like to overstate how often squeezes actually happen. Ater, that's the one that i wanted to clear. 915..

A andy is going to be doing well, just because crypto remember a ny. That is one that has a high short interest. It's a bitcoin mining company so with bitcoin ripping that does strengthen the argument for any currently trading at 8. 30..

Look for that breakout, apparently of 890 and from there you might be talking about 12. prog right here has quite a few issues. 230. 240.

That 20 cent range below 250. So that's what you should be watching on prog! Look for that breakout of the high 240s and from there a break out of 270. uh, but right now, obviously a clear level of supply right below 250. So if you're a prog fan, that's exactly what you want it to break above a andy ater, bbig prog.
Just so you know, i do not personally have a position on any of those. I have a position on obviously amc gme. I am long on the overall market. I am long on a bunch of different cryptos just to be transparent, of where i am at.

I know i don't know much about it, but what do you think about the drs? The share, so institutions do resell it. A lot of people commenting on reddit, so uh, i don't know about the most recent round of comments on reddit. The only thing i could say about it is there are pros and cons to it. Here are the pros: when you're talking about computer share and direct registration, i do see the benefit of you being the clear owner right now, if you're buying through a brokerage, the brokerage is actually the owner and you have a very fancy.

Schmancy legal iou from the brokerage when you do a direct registration, you become the actual owner. I like that and when people are registering more and more, it does seem to cut down on ftds, fails to deliver failure to deliver. That's a good thing, and also, if you do a drs they're, not going to lend it out. So if you don't want your share, shorted, that's kind of one way to guarantee.

So those are all very interesting pros. A con is that it is very slow relative to brokerages. You have to go through a transfer agent if you're used to whatever brokerage you have. If you have ever sold a stock and you're like cool, i just got that fill like borderline instantaneously.

That really doesn't exist on the drs system right here. This is the main pro con that i see against drs. The biggest disadvantage of using drs is that you can't sell your stock right away. You have to submit instructions to your transfer agent, who then pools your sell orders with those of other sellers.

Then they execute the trade on a pre-set schedule. This would prevent you from selling shares in the midst of a panic. If there were uh and then like this is talking more of like a higher level but to amc and jimmy, i would almost flip it of if you're doing the drs and, like you want to like perfectly time your exit in the moass on drs. That would make you pretty in mobile relative to brokerages.

So, like i said drs, it has a list of pros. It has a list of cons. I myself have not put any shares on drs, because i do, i think, there's i put value. I i think, there's an extra premium for me.

I want to be as mobile as i possibly can with it. The other thing that i see to my understanding and maybe i'm speaking on something like you said it sounds like there's um extra comments that maybe i'm not most up to date on um, i see what they're going for people are saying that if you can get Enough people to register if we end up registering more than the free float plus the share short that's problematic, and it tells us that something is sketchy is going on in the back end with it. You first that's two hurdles you need to surmount. You need to get enough people to actually register their shares and on top of that, even if they register we don't have that data.
The company like as in gamestop and or amc, would then have to release that data publicly, and i don't know if they will. I don't see why they wouldn't, but you would be reliant on enough people registering their shares and from there then the company would have to choose to. I guess, release that information publicly. So there are some hurdles to my understanding.

The drs system is much more utilized by people who are long-term investors such as, like warren buffett, not necessarily for active, definitely not day trades uh and not even the most short-term swing trades. So with it, i'm not telling you to do it, i'm not telling you to not. Do it, i'm just telling you to look into it. There are pros there are cons, ding, ding, ding.

The casino is open. Best of luck to all. Let's get rocking today. Looking for amc to hold on to 40, where are we at with iwm we're rocking we're rocking we're rocking? I like it all right, come on come on, come on nice amc just very quickly.

I want to see yesterday's high. Yesterday's high was 41.10 just so we all know, that's probably the in terms of a smaller time frame like clearly the big breakouts at 41.85, but 4110. We could pay attention to that out of the gate, all right. The spy 440 gme, thus far low volume, gme needs more volume, definitely needs more volume.

All right hang on amc battling it out, hopefully just reaffirming 40 as a key level of support right now, 39.80 just snapped below 40.. But let's see if it's just kind of like a quick, fake out thing bases and like bounces right off of it for all i know, could be a good dip, buy an opportunity. Time will tell hindsight obviously 20 20., hindsight obviously 20 20.. Here let me get this time for you.

Let me make sure the time is properly set up everywhere. Let's go back to amc. There we go so we have. This gap came down based range bound, all the way.

Up until yesterday we got out of this range. Let's see if the range breakout is officially going to hold it's nice to see. This is the second day of a green macd. Obviously we're nowhere clear close to market closed, but that is definitely what we are looking for is just a continuation of the build in momentum.

Momentum is the name of the game, short gorilla becoming an astronaut. I appreciate that. What are your thoughts on s? L? I let me write that down chase s-l-i-s-l-i. What is the meaning of life? We all need to know uh.
What's that movie say i think it's. The meaning of life is 42 right salute matt our ethereum is cooking. Let's go amc, counselor murray. Just so you know.

Man, i've been uh staking a ton, a ton, a ton for ethereum 2.0 - very excited about it very, very excited about it. Have you seen nu crypto doing mad stuff at the moment i haven't, but i could uh definitely take a look. You see at it over the weekend, bbig 40 price target uh, seeing seeking alpha released yesterday yeah. So i saw a little bit about it and we saw that previous one on seeking alpha where they had the pump piece on any when they were basically just saying.

Hey like we think that elon musk should join the board because of this, and it went up and came back down. This write up on bbig does seem to be uh. I guess a bit more legitimate is the best way for me to put it so i i kind of like that. I really do um, but with it i mean 40.

I guess it like. Obviously anything could happen, it could go there. I'm not going to be like oh 40 is absurd. It's never ever going to see it, but i mean i'm so much more of let's just let's just play it out.

In the meantime, let's see how things are going, let me watch those levels: 9. 50. 11. 12..

There's levels to watch like i don't want to put the cart in front of the horse. Vih merged with p-a-k-k-t on monday, nice back play, um back plays, have been weaker and weaker. Recently in 2020 was the year of spack place for sure um, but this year 2021, not so much is like not by any means the same amount of enthusiasm behind spax. A y has over 50 percent short interest uh, i don't think that's accurate um a, and why am i am i i think prague does.

Let me check this out a-n-y. Let me bring it up nasdaq and why yeah that's the one where the shares on loan is about 13 million, so the shortages is most likely as a rough estimate closer to 20 um, and you could check that out on ortex. Just look at the shares on loan and then just do some like okay, if there's 12 assume that maybe 10 million are actually short and then just kind of build off of that when you look at the free float, uh 50 seems a little bit high. All right, i see some people talking about bbig.

Is that moving bbig actually down 3.8 percent? Let me know, let me know if bbig, where is it pbig bbig? I mean i very much like that. I got above 770.. I get you're kind of just watching that 850 level to see if it can continue on the momentum from yesterday. I do admit the past four days, obviously very strong a and why uh a and y is coiling up for a move uh.

I would argue that the daily chart on a and y is a very strong one. Uh things could get interesting on the breakout of eight ninety nine dollars, but it's just coiling like this to me, seems pretty freaking bullish, especially if we get that follow through on the bitcoin etf um. I think there's a strong case for any, but once again i have no position on it. Prague you're waiting see if it can get above.
230. 240. 250. A nice move above 240 250.

It would be strong for prague all right, uh amc trying to base just below 40 right here, see if it can uh really take this out. It's fighting, though you can tell that the it's finding demand it's just. It's also apparently finding some supply, but uh. It's trying to make a nice turnaround, so what you could do here on the one minute is just pay attention to the macd and look for that curl.

Let me throw that up. Look for the curl to go green and hopefully we take out 40.. It's monthly expiration, they're gon na try to pin all of our favorite stocks with a chain uh. I don't know what that necessarily means with a chain um, but we know when it comes to monthly expiration.

You can look at a lot of the different where the premium is sold and obviously market makers they're not going to want to pay it if they haven't hedged it properly. So it's not the most abnormal thing to see it close right below a key dollar value. All right amc currently 39.88, we have traded 2.58 million uh, it's okay. I thought there was actually going to be more volume today.

Gme low volume, 78 000 shares man, that's a very, very low volume on gme uh, hopefully that that excitement picks up uh. We want the volatility to return on that for sure all right, iwm iwm. I want to see this bend back around the spine. Let me bring back up the spy, but this is bending right here.

Nope incorrectly put it in okay, the spies bending background, the russell bending back around. Let's get rocking, let's get rocking folks. I just want to see this get going, we're seeing some buyers stepping into the market. Hopefully we get.

This turn around. Look at this base being found at 39.80 support support, support, support, let's see if support can be found there once again, as money continues to flow into the overall market. That makes the case for amc bending here a bit stronger, especially the russell 2000 you're. Very much gon na want the russell 2000 to get above 228 15ish.

If you see a pop here, that's going to make a much stronger argument for amc opinion on bbig, um yeah, so pretty much what i was just saying about it, i it i have no position on it. It had a nice run over the past four days. Today's an inside day there's no trend, there's no direction. I would want to see this break of 8, 50 and then specifically 9.50.

So 850. 950 right now, though, no direction it's an inside day, uh in, i guess the best way to put that it's kind of like an indecisive, no trend day. As of now, we have not exceeded the high or the low from yesterday we're just kind of waiting. Where can you register the shares uh, you could register them on compute with, like computer share um, but once again make sure you're actually looking into what that means.
I myself have not registered any shares amc all right here we go iwm. It's trying to come back around 2 28, 12, 2, 28, 15. watch for the pump here and then hopefully, amc or maybe amc goes first and it brings the entire russell with it. I would also obviously be fine with that.

Oh thank you, runescape killer, if you haven't already, i would appreciate, if you guys, could all annihilate that, like button and if you haven't already don't forget to join up with the moon gang by hitting the subscribe button liking. Subscribing all that is completely free. It helps us grow the ape army and gets our uh. What we're fighting for market transparency, market fairness gets our argument out to more and more people.

I very much believe the success of this. I guess movement is dependent on the size of the community um so as we grow it bigger and bigger. I i very much appreciate it just helps out with the youtube algorithm uh people are talking about prague, prague, 220. Let me know when prague is above 240.

250., that's exciting bitcoin, just below thousand fifty nine thousand eight hundred ethereum three thousand eight hundred on its way to four thousand flat cardano. I wish this was pushing 250 right now. I'm a little bit surprised it's at 216.. Hex would prefer that's at 50 cents.

It's currently at 36.. She thus far bouncing off of 24 back to 25, so lana is also having a good movement. Uh. Can you opinion on g-o-t-u, uh, yeah, jacob sure g-o-t-u? Let me write that down.

G-O-T-U got it all right, um, actually, amc and the russell moving two completely different ways: right now: amc making that nice, nice move to 40 40. uh we're watching 4110, and that was just the high from yesterday. I believe it's 41 10. clearly getting some buyers right now.

I'm very much like that very very much like that. Gme. 184 30. That's pushing man amc going going going all right, we're kind of waiting on bitty, bitty bitcoin right there, a little bit flat.

We had this nice pump all the way up to 59 800 flat right now would love for this across 60 000. ethereum similar looking for this to go all the way up to 4 000 how's matic, still looking matic still looking pretty strong look for it to Get a bit of a dollar 55 on matic solana. Also, man just a lot a lot of opportunity, a crazy amount of opportunity right now, interesting, so we're seeing that the spy just kind of indecisive, uh iwm, honestly a little bit of a downtrend uh we're just seeing lower highs throughout the day. It gets exciting if it comes back above 228, but amc does not seem to care.

We've traded 4.7 million shares and it is that 40 70 looks like it wants to push yesterday's high of 41.10 gme a hundred and three thousand shares traded. We it needs more volume, it needs more excitement, but its price is nice. I mean both amc and gme are in the green, so hey. I will definitely take that uh.
I know amc and jimmy are black swans in terms of squeeze, but for b by what is the range of the squeeze won't be as big as amc. I don't know how you came up with that, but when it comes to, you can never put a price range on a squeeze. A squeeze is naturally one of the most like volatile high volume like fomo shorts, covering gamma squeeze events. You cannot put a price target on any squeeze.

That's just not mathematically how it's done. I know some people are trying to put out like a floor on amc on gme on bbig. If you're talking about a squeeze play, you cannot have a specific price target. It's just not mechanically how a squeeze works in the back end, because there's no way to estimate you can estimate some of the shorts covering, but you can't really estimate the gamma squeeze, because the chain is always chained like it's always.

The option chain is always dynamic throughout the day and you can't estimate the impact of foma buyers. So when it, if you're asking ever for a squeeze price prediction, it's just mathematically impossible to pull off. So that's why i don't get when you see some other people they're like oh. This is my floor um.

If, if you have a floor just because you want that to be the floor and like you're just like hoping for that, because you can pay off your house, your student debt and buy yourself a yacht like hey, i'm right there with you. But there's not really mathematical bearing to it, and i've seen some youtubers try to like stumble their way through a video of like it could go to this. It could go to this. Please understand that the math is very, very poor and it's just not accurate.

So i'm right there with you like when people are throwing out their floor values, you pick a floor value. Do i want it to get there yeah, but also just understand that there's not any like reasonable math. That explains that it's just um, inherently you're, trying to predict things these numbers. What's the current short interest, how bloated is the the option chain and the fomo buyers even that one, the last one fomo buyers? How do you possibly predict the fomo buyers when you don't know how many fomo buyers there's gon na, be it's all about? What's the demand, let's give ken a nice big, green candle for his birthday cake appreciate all you do for the apes amc to the moon? Hey shout out, i appreciate that i mean a lot of these things to the moon.

I want everything to go. I just i want your p l to go to the moon. That's like my goal. I want everyone's p l.

I want everyone's account to go to the moon, and on top of that, i think we very legitimately can campaign like on the political front for true positive market change. Maybe i'm too young, maybe i'm a bit too naive. Maybe it's like a system that is not going to change. I just i don't know.

Let me live in my naive world because i think we're big enough. I think we have enough influence that we can truly make changes um. I think it's highly highly important that we are well organized well, well organized because you never know when some political leader is going to actually be listening and who knows maybe they're going to pander for our votes by running on something that we want to happen. I mean, let's just look at the numbers from amc and june alone, that was four million people.
That's a serious voting bloc, that's a very serious bloating voting bloc and when it comes to that, i think we need to be more organized in the sense of knowing exactly what we're arguing for and we we really need to cut it out with the like: asinine Childish things, if, if think about the scenario, when what, if a political leader was listening to us and they're like oh okay and the first thing, they're gon na say, is like well, how serious is their argument? If the first thing they hear is some crazy incorrect theory about convertible bonds, some crazy incorrect theory about short ladder attacks, some crazy incorrect theory about odd lots. It's just they're gon na look at us and be like. Oh, these people are clowns and they're, not gon. Na listen, we need to come to them with very legitimate, verifiable things, something that they can actually argue and get.

I don't know like go through the typical, like legitimate political process. So, for example, you know it's something that we could argue and we actually have. The stats for is getting trades, a higher amount of trades to be done on a lit exchange, and that is a symptom of that is payment for order flow. So right there we can say we like that's a measurable thing.

We want no more payment for order flow, then they ask why we have to be able to explain what payment for order flow is, but they could obviously google that and then from there well, why? Well, we know the argument that it's widening the spread which costs pension funds, retirement accounts, billions and billions of dollars etfs billions of dollars. We have there's, there's studies done on it. We can then argue a little bit more high level that right now we're just in the duopoly of citadel securities and virtue being market makers, and they have too much unfettered power and we don't know necessarily how they're wielding that power. That's something: that's measurable, get rid of payment for order flow, and then we have the reasoning of why, beyond that, the 13f filings.

Why are they not reporting shorts? They're reporting longs calls inputs, but not shorts. That blows my mind and then like maybe just to boot. We could argue that, instead of quarterly, we want it to be monthly or something like that. That's a very strong argument.

We can argue to get rid of uh pattern day trading pattern day trading. Why? Why, if you have less than twenty five thousand dollars in the mark, the u.s brokerages? Why are you treated any differently that doesn't make sense, we're told it's the free market? Everyone should be able to participate in the free market, the same as everyone else. My point in all this is, i see, in my opinion, too many people who are just not taking this seriously enough or i shouldn't use the word seriously. I think there's too many people who are looking at the current landscape, the current political landscape incorrectly.
We cannot come at these people if we want change it's one thing: if you're gon na just sit on social media and like yell, manipulation manipulation, i hate billionaires, okay, cool. Like good luck, i hope you make like. I hope that makes you feel better, but that's not ever anything, that's going to get changed. If you want change, you have to be serious and you have to know what the fuck you're talking about and there's too many people who are willing to bandwagon random things and that we need to be way more organized in the sense of the apes need to Know what the apes are fighting for beyond just yelling manipulation that doesn't make sense, that's how not how we're going to get change um.

So i mean those were a list of three things i could go on more and more but like when you have people with very, very weak theories like i said this odd lot: theory um, the convertible bond theory, um they're, just super weak. Honestly, some of the people that have size like considerable size in this community still don't know what dark pools are and then they're talking about dark pools and it in a certain sense. It's embarrassing to the community because i know there's people that are listening, who have expertise and could pull on their connections with political leaders. But why would they do that? If we don't even know what a dark pool is or how it works um? So i don't know we just need to bring it up to the next level, more organized, more reasonable and more articulate in our very specific demands.

Why is everyone saying amc options is hurting the stock price, i'm so confused. Just another reddit tinfoil hat theory: um amc options they can hurt or help they could go either way, um the best way to think of this - and this was an analogy that someone sent me quite a while ago, and i really really like it so the analogy I always went with with if the moas is a gigantic fire buying stock is the match and buying call options out of the money. Call options is the gasoline if you just have gasoline you're, not going to get a fire and of course you can have a gigantic fire with just matches, but obviously gasoline makes it way way easier. So that's the interesting scenario, the very interesting scenario of there's a time in place for it um to just say that options are hurting amc.

Once again, that's just people who i don't. You have a lot of people commentating on this entire stock market mechanism, who they they haven't even been trading for like a year yet like i, i just don't get it options. Can they hurt it? Yes, can they also help it? Yes, another analogy would be something like this, so let's say the stock price, it's a game of tug of war. It goes up if the bulls are winning and it goes down if the bears are winning tug of war tug-of-war tug-of-war.
Well, if you buy stock you're, just adding more people onto your side of the rope you're pulling you're pulling you're pulling well options would be the scenario where it's a higher risk. Higher reward bet, not only in terms of your p l but and also of helping out the cause. So let me explain: let's say in this analogy: if you buy stock, there's more people added to your side of the rope. Well, another thing here would be: let's say you have these like jacked up apes, who have been on steroids ever since they were in preschool, that's an option, but the issue is: is they can only help you if you get to a certain distance? So it's a high! Oh look at that: hey bitcoin, 60, 000 folks, bitcoin, 60, 000 right as amc is ripping right as the russell's coming back right as the spy is looking good.

Look at that bitcoin ding, it ding ding ding 60k. Anyway, back to my analogy. So options would be the world of where you have these special apes, who have been jacked up and on steroids ever since they were in preschool. The issue is, is, if you want to use them, you, you spend money on them as in you buy it, but they only help you.

They only join the game of tug of war. If you pull the rope to a certain distance, if you don't get the rope to that distance, then that was a waste of your efforts. But if you do it helps you out more so in terms of your own p, l and also helping out the cause. It's a higher risk to reward bet, so with it it can.

It can be hurtful in terms of people wasting money on premium, but on the other hand, if you do it in the right environment, when volatility is picking up, you pick the right expiration date. You pick the right strike out of the money, calls it can help. So it's a it's a, i guess, a sword that cuts both ways. All right, hang on hang on, hang on, hang on in becoming a space, a hey.

I appreciate you joining up. I've noticed that the level two on weeble is not that accurate. When i see big buys or sales that come through that were never listed because weeble's only showing you the new york stock exchange, it's not all level twos, so it's accurate, but to the new york stock exchange spc good dip buy, got some at 2050 after the Overnight action, so spc is down because they like delayed basically their like tourism flights by a full year. It depends on your time frame like if you just believe in the long-term potential of virgin galactic we'll have at it good day.

Sir, could you have a look at keep network keep network keep network all right. I see a lot of people talking about bbig. Let me throw that up. Bbig's.
Looking good, remember 850 was the high from yesterday, that's nice and from there watching 9.50 uh it. It's definitely looking good, hey mark, wanted to wish you and kenny g happy birthday. You can look. Can you take a look at 23andme hang on 23.

and me. I think that that was a recent ipo. Wasn't it good morning, legends and kenneth duck for his birthday. So something we love him tesla thoughts, tesler tesla, tesler, tesler 827.

I mean i was saying above 820 good, i mean tesla's looking strong. I think it can go up to 840 850, no problem in the short term. Very much a fan of tesla spc getting obliterated played down to 14 or a reversion when you're out or both pirates, i mean, if you're doing a longer term reversion you just have to definitely like where the company is headed, uh right now, it's down for good Reason like it was a fundamental change in the company um, so it being down does not really surprise me. Thank you screw party lines.

It allows the politicians to make them their own wallets, fatter vote for candidates that support the apes yeah, so i'm never ever going to be uh necessarily a fan of necessarily, i guess, a lawsuit that could potentially halt the trading of the stock. But what i want - and this is what mark cohodas and i talked about that interview - it is a great interview. It's coming out tomorrow, um, i will be posting it on the main channel. You guys it's about an hour-long talk of like kind of a little bit of his history, his opinion on, what's going on and his opinion on some of the ways that we can fight back uh.

I didn't know that, like some people seem to be, i don't know. They're like panties are in a wad about his discussions on drs. We didn't talk about that at all. Just so everyone knows we talked about the best ways really of like the apes to be heard and in terms of like a lawsuit or something that could halt the stock, maybe not the biggest fan of that.

Definitely not the biggest fan of that. What i am a fan of, though, is we've been doing this for 10 months. We need to get more in contact with people that can actually change the rules. You know the people who can change the rules are politicians.

We need our politicians to be on board and to understand what we are arguing for and that's a tough battle, because we know a lot of politicians are in the pocket of wall street. It is a 5d chess game, but in my humble opinion i think that's the next way we need to go if we just continually complain on social media. What's our end goal, if we want actual legitimate change with politicians. Well, we need to talk to politicians then, like that's just like one plus one equals two people, uh hi, becoming a space ape, hey apes show up at your town halls pressure your congressman, mind folded because of the tutorial matt put out on pfof show up know Your stuff shout out miles away: hey matt check out e, i c e.
I got it shout out c lafoy grant. I love that name uh. Can you take a look? Oh and you up 400. I mean if it's up that much.

I probably i'm not gon na chase it like when i see something that has a gigantic gain right away. I'm like oh, i'm, not gon na, buy that then i miss the party. Can you explain how the transfer to public works? I have 100 amc going from weeble. They already have taken the fee, any chance missing out on anything.

No, i'm actually in the middle of that transfer myself exactly that transfer that you're talking about from weeble to public. Let me see if mine actually finally went through. It says it can take up to 10 business days, i'm not at 10 business days. Yet i think i'm at seven, but let me see if mine has gone through, but once you set up the transfer, it's just transferring the brokerage who has like the ownership for you of those shares all right.


20 thoughts on “Ep 105 gains are back on the menu stocks crypto dumb money w/ matt”
  1. Avataaar/Circle Created with python_avatars i recommend BITFXTRADING On telegram says:

    πŸ–•πŸ–• really appreciate you for your helping I got my account unbanned you are a pro

  2. Avataaar/Circle Created with python_avatars Stev Hawk says:

    Venturing into the trading world without the help of a professional trader and expecting profits is like turning water into wine, you would need a miracle, that's why i trade with hilder Ferguson, her skills set is exceptional.

  3. Avataaar/Circle Created with python_avatars Jonathan Armen says:

    FAKE SHARES MATTER

  4. Avataaar/Circle Created with python_avatars Jonathan Armen says:

    FAKE SHARES MATTER

  5. Avataaar/Circle Created with python_avatars Jonathan Armen says:

    FAKE SHARES MATTER

  6. Avataaar/Circle Created with python_avatars Truck shawty says:

    AMC is blowing-up. As usual, AMC is the only meme stock play I see! AMC is my home, body, life, and universe! All hale the three letter entity of entities, "AMC"!

  7. Avataaar/Circle Created with python_avatars Mad Mehrt says:

    I called it, amc wouldn't hold and close at $40

  8. Avataaar/Circle Created with python_avatars Gordon Firth says:

    Hey Matt. Still trading on Canadian markets $41.55

  9. Avataaar/Circle Created with python_avatars FinanceInvestNetwork says:

    Agree πŸ‘

  10. Avataaar/Circle Created with python_avatars Robert Lica says:

    They suspended trading on amc?

  11. Avataaar/Circle Created with python_avatars Crowdsourced Stock Trading says:

    <== dumbest money

  12. Avataaar/Circle Created with python_avatars H.W Bloodgood says:

    Is matt only doing early morning shows now?

  13. Avataaar/Circle Created with python_avatars MR M says:

    matt what you think of $NOK?

  14. Avataaar/Circle Created with python_avatars Dean Weimer says:

    How about if people pay to ask a question just look at the chart

  15. Avataaar/Circle Created with python_avatars joseph ramirez says:

    Good morning matt

  16. Avataaar/Circle Created with python_avatars Dean Weimer says:

    If you buy options and don’t exercise, doesn’t help

  17. Avataaar/Circle Created with python_avatars Thiago mark says:

    The price surge is visible rising above 55 /k for the first time since May. It is now less than 10 /k away from the all-time high it hit in mid April. The surge has taken its cap above 1T and provided a major boost.Every single one of the top 10 most valuable cryptocurrencies are now in the green on both a 24 hour and seven day timeframe. We should follow the right way regardless of trends, which is trading. Buy the Dip and Trade..I have made over 560 /k profits not just by buying the dip but implementing trades with signals supplied by Jason Dawson..

  18. Avataaar/Circle Created with python_avatars Elly Deignan says:

    AMCπŸš€πŸš€πŸš€

  19. Avataaar/Circle Created with python_avatars Dylan Wood says:

    Tell Austin I said HELL OF A JOB!!!

  20. Avataaar/Circle Created with python_avatars Dylan Wood says:

    That shit slaps!!!!

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