Warning: file_exists(): open_basedir restriction in effect. File(/var/www/vhosts/youtubersblog.com/public_html/wp-content/db.php) is not within the allowed path(s): (/var/www/vhosts/youtubersblog.com/:/tmp/) in /var/www/vhosts/youtubersblog.com/public_html/wp-includes/load.php on line 549
Ep 109 sec infighting, citadel vs iex d-limit crypto pop dumb money w/ matt – Matt Kohrs

Surplus electronic parts : https://epartsconnect.com
Stock and Crypto AI Prediction : https://stocksignalslive.com

SEC Infighting, Citadel vs IEX (D-Limit) & Crypto Pop
(AMC, GME, ANY, PROG, Bitcoin, Ethereum & Shiba Inu)
Dumb Money w/ Matt Ep. 109
Want better Stock trading?
๐Ÿš€๐Ÿš€๐Ÿš€ No PFOF, NO Market Makers: https://public.com/MattKohrs
๐Ÿ’ฐ๐Ÿ’ฐ๐Ÿ’ฐ Unusual Whales (10% Code: MoonGang): https://bit.ly/UnusualWhales
FREE Crypto ($10 on Coinbase): https://bit.ly/CoinbaseKohrs
FREE Crypto ($25 on Voyager): https://bit.ly/VoyagerKohrs
Voyager Referral Code: MATT21
๐Ÿฆ†๐Ÿฆ†๐Ÿฆ† New Rumble Channel: https://rumble.com/c/MattKohrs
๐Ÿฆ†๐Ÿฆ†๐Ÿฆ† New YT Channel: https://www.youtube.com/c/MattKohrsClips
๐Ÿฆ๐Ÿฆ๐Ÿฆ Noom (Free Evaluation & 7 day trial): http://noom.com/mattkohrs
๐Ÿ’Ž๐Ÿ™Œ๐Ÿš€ Emoji Charting: http://bit.ly/TradingViewChartingSoftware
๐Ÿ’Ž๐Ÿ™Œ๐Ÿš€ Benzinga: https://bit.ly/KohrsBenzinga
๐Ÿ’Ž๐Ÿ™Œ๐Ÿš€ Moon Gang Merch: https://moongangmerch.com/
๐Ÿ’Ž๐Ÿ™Œ๐Ÿš€ Discord: https://www.patreon.com/MattKohrs
๐Ÿ’ฐOptions Picker: http://bit.ly/Tiblio
๐Ÿ’ฐOptions Chain: http://bit.ly/MKohrsWebull
๐Ÿ“ˆOrtex (7-day Trial): http://bit.ly/Ortex
๐Ÿ‘ปCyber Ghost VPN: https://bit.ly/MoonGangVPN
Safely Store Your Crypto: http://bit.ly/KohrsNanoX
Socials:
๐Ÿš€ YouTube Channel: http://bit.ly/MattKohrs
๐Ÿฆ† Twitter: https://twitter.com/matt_kohrs
๐Ÿ–ฅ Twitch: https://www.twitch.tv/matt_kohrs
๐Ÿ“ท Insta: https://www.instagram.com/matt_kohrs/
Venmo: @Matthew-Kohrs
My Computer (Up to $200 off): https://artesianbuilds.com/?aff=Mattkohrs
Artesian Builds Code: MATT_KOHRS
Book Recommendations:
๐Ÿ“–Technical Analysis: https://amzn.to/3p6QYk8
๐Ÿ“–Trading Psychology: https://amzn.to/2Z3sjCM
๐Ÿ“–Stock Operator: https://amzn.to/2N76K1j
๐Ÿ“–Pit Bull: https://amzn.to/2Ndk4kV
Video As A Podcast:
๐ŸŽง Apple: https://podcasts.apple.com/us/podcast/moon-money/id1550699494
๐ŸŽง Spotify: https://open.spotify.com/show/6kdJCHY0VMqLzIxwCHU59A
#Stocks #Crypto #MoonGang
Want to mail me something?
900 N 19th St
PO Box #3267
Philadelphia, PA 19130
* Be sure to write my name on any package *
Please be sure to LIKE, SUBSCRIBE, and turn on them NOTIFICATIONS.
Let me know in the comments if there is anything I can improve on moving forward.
Thanks for Watching!
RISK WARNING: Trading involves HIGH RISK and YOU CAN LOSE a lot of money. Do not risk any money you cannot afford to lose. Trading is not suitable for all investors. We are not registered investment advisors. We do not provide trading or investment advice. We provide research and education through the issuance of statistical information containing no expression of opinion as to the investment merits of a particular security. Information contained herein should not be considered a solicitation to buy or sell any security or engage in a particular investment strategy. Past performance is not necessarily indicative of future results.
Links above include affiliate commission or referrals. I'm part of an affiliate network and I receive compensation from partnering websites. The video is accurate as of the posting date but may not be accurate in the future.
DISCLOSURE:
I have a beneficial long position in the shares of AMC & GME either through stock ownership, options, or other derivatives.
Video Topics:
amc stock, amc short squeeze, amc stock prediction, amc squeeze, amc price prediction, amc stock today, amc trey trades, gme stock, gme live, gme short squeeze, gamestop, gamestop stock, sprt stock, matt kohrs, matt kohrs amc, matt kohrs live stream, matt kors, matt khors, stocks, live stream, trading live , rading live stream, ape nation, bitcoin, ethereum, cardano, doge, dogecoin, treys trades, investing, trading, finance

And i eat crayons every day with my friends, i think about kenny in his ivory tower shaking in these lily bones. As the eggs overpower stop breaking the law. Asshole is money money at the streets like a quarterback. If you don't mean anything water up, a duck's black aids not leave or not until we get the money stacks blue monkey magic coming through us monkeys on the moon, double digit, iq, loving, bamboo right, my sister's here my brothers, the it's time.

Oh hello, hello, hello. Everyone stand up work on those six packs. I got ta stand on this one because i'm i'm feeling a bit feisty, i'm feeling a bit feisty we're coming out of the gates swinging. We have a lot to talk about.

I dove into some really really interesting things during this break and i'm excited to bring it all to you. I mean look at that title. We're going to be talking about the sec in fighting we're going to be talking about citadel versus iex, or let me put that another way we're going to be talking about a piece of shit market maker against a lit exchange. That's trying to do some public good and then, of course, we're going to lightly touch on just kind of what's going on in the market.

We'll do some levels of support resistance. I think the noteworthy thing out of today is that bitcoin is ripping rip and ripping, in fact, as i'm talking right now. 63 000, it's about 1500 off from an all-time high. So before i get into my hot tamale rants just so you know where we're at amc currently training at 42, 20.

uh kind of flat sold off flat, not too exciting volume. A little bit light. Nothing too crazy going on there today, but remember we had four green days: it's okay, to take a breather jimmy also just i mean tighter range kind of range bound not doing too much, currently trading just below 187 i'll. Give you the short interest numbers just so you know we're at and then let's hop into all the good stuff, so for gme can't stop won't stop gamestop net borrow of 200 000 short interest, estimated to be at 12 and for amc net return of 2.66 million Shares remember to return shares.

It's either shares that were never short or they were covered two days ago, t2 settlement finally being returned today. That's how to interpret it, but they did actively borrow 1.95 million against it today short interest, estimated to be 16.5 in terms of the overall market, we're at 450 spy is looking. Strong queues are looking strong, iwm, looking a bit weak, so the tech sector and the overall market looking strong, the russell 2000 not struggling, it's still technically green on the day, but just on a relative basis, not looking as good okay. So that's kind of your breakdown of where we're at.

What's going on, we have about 57 minutes in we're in power out we're feeling power and i'm not gon na lie. I'm feeling like a hot tamale as i started, to uncover things during this break and let's, let's start this really all off with i wan na i wan na touch on the gme uh sec report. Once again, i know many people, they felt underwhelmed, uh, very, very underwhelmed, and if you really think about it, the sec a lot of power, a lot of power, a lot of resources, a lot of data, a lot of over arcing reach of what they can and Can't look into, and a lot of us are we're reading this gme report backwards forwards inside out couple different languages and the conclusion is always just what the fuck like. What are we doing here like it's? Just it was a nice.

It was a long definition that it was a nice essay, a college paper of what shorting. What's a gamma squeeze a little bit about market structure, a couple pages in there of interesting data that the public didn't really have until now and that i think it should be mulled over. But if you take a step back, i think it's very fair to have the question of well. Why, if this has been going on from february until now, when they announced it, and even the report was delayed, why does it like? We all have that gut feeling that something's off, and maybe it wasn't the the most prominent good faith effort - i guess, is the best way to articulate it, and this is kind of interesting you can find this.

This was also posted yesterday, october 18th, right that was yesterday or today yeah. So this was posted yesterday and remember our charlie gasparino dipshit charlie. He a little bit ago tweeted about some like sec, infighting and that's why it was delayed because they couldn't agree upon the conclusion of the report. Well, all of a sudden, you have these two people, it was just a they posted it.

The same day, two commissioners from within the sec below genzler statements on staff report on equity and options, market conditions in early 2021. That's the exact title. So these two people hester pierce and elin - something i don't. I don't know i'm probably butchering that name, hey man, mr commissioner, if you're listening to me right now, i apologize that's just a very that's a very funky name, but i don't ever really like to give too much credence to sorry charlie, because he basically rips off Youtubers and when he's doing his own research, he just lies, but all of a sudden it looks like there might be a little bit more of a bearing to this.

This concept of sec infighting and maybe gives us an argument that the conclusion of the report of what they could do may be a little bit stymied from some political fractions within the sec check. This out, you can find this. This is on the scc's website. Here's the title search it blah blah blah here are the interesting things, and what i'm really getting to tldr is.

I think that these two might kind of be leading a a little bit of an anti-movement away from maybe what investors actually want worthwhile to probably do more of a deep dive into these two. I didn't have time and i'm gon na like really bring together. Some of my thoughts on it at the end but check this out. This is what these two wrote: hester and elid.

The report, however, finds no casual connection between the meme stock volatility and the conflicts of interest payment for order flow off exchange trading, wholesale market making or any other market practice that has drawn recent popular attention. We have seen no evidence that these practices were a cause of these events. So that's that's a little weird they're saying what nothing to see here, uh, like all of it just across the board. They're, like okay, no payment, forwarder flow off exchange trading, wholesale market making or any other market practice they're saying nah, no, no way you could draw those conclusions uh.

So i think that's a bit interesting but hey. Let's just keep going a full and fair consideration of both the operation of our complex equity markets and previous commission actions is critical to avoid pulling too tightly on the wrong thread. That's weird think about that wording. They're already setting it up as like hang on.

Maybe we shouldn't look into certain things. They have a really weird metaphor about a sweater, be like hang on, like the woven threads. If you pull one, it can mess up the whole sweater and obviously like look at these two they're, clearly fashion forward. So i do appreciate that they got a sweater metaphor in there, but they're already setting it up as if a certain subpart of the sec they're like we shouldn't look at that and that right away, uh really like gets some red flags going in my head.

Pass commission and staff statements acknowledge that many benefits wholesalers can provide to retail investors very interesting right there, don't it almost sees as if it seems as if they're trying to protect wholesalers as in citadel virtue and other major market makers. Well, those two are the main two but uh right there they're trying to protect it. We should not neglect to do so in our current analysis of market structure and then, of course, they just wrap it up of. Like trust me, bro got your back.

We always should be on the lookout for ways to improve our rules and our markets, but we must move with the utmost care to ensure we do not harm investors and impair markets that are integral to people's lives and retirement, as well as the u.s economy, investors And issuers whom the equity market is, after all, here to serve, deserve nothing less. First of all, i think it's weird that they went out of the way to call out issuers, but other than that not harm. I mean that i don't know, i don't have a merriam-webster dictionary in front of me um, but that's an interesting definition of harm because i would say it was financial harm of what occurred in january february of this year as in billions of dollars that you me Other retail traders and or investors specifically in gamestop and these other moon stocks that were popular at the time and remain to be popular today. I would consider that a form of harm and they're saying that out of this entire report, we don't want to harm anyone, but there's nothing here.

That shows any wrongdoing by anyone at all and to maybe some of the people. In the back who have been sleeping during class, i mean no wrong doing. The entire retail trading public was stopped from buying stocks that they wanted to buy. How could it be the any form, whether you're, retail or not, retail, if we're pitched this concept of it being a free market and we're just completely making up the rules of supply and demand as we go as it fits the cronyism of wall street insiders, i Mean super super suspect so for here we're seeing to me.

I think, there's way more to this story, and i know that that's always wall street. It's it's never like you're, just at the tip of the iceberg, but for the people who are particularly upset about the lack of quality and lack of information and lack of conclusions from the staff report on equity and options, market conditions in early 2021. I find it very, very suspect. My red flags are going off.

My spidey senses are going off. My duck. Senses are going off very interesting with these two and very, very quick reminder to the best of my ability. To the best of my knowledge, i should say remember that there is no rule whatsoever that there's no gardening period, there's no stop between going from sec, a public service to private industry.

You there, you don't have to wait, there's nothing! You can go and it's one of those things of like hey, you never know, and this is a complete me, throwing a theory out there. I don't have the evidence of this. I need to make that clear, but we things have occurred in the passwords. You make some rules and you play nice with citadel now, when you're on the regulatory side a couple months couple years down the road, nothing stopping you from getting a job.

There, we've seen that before i mean think about it. You have an intimate knowledge of regulations. You can currently create regulations if you're on the sec side and then from there you have the network of when you're working in the private industry. I would not be surprised in the slightest let's, let's look at the future: let's see their connections to these wall street establishments and when they go to the private industry, they might add a couple zeros to their paycheck and they're just playing nice now to set up That job down the line, something very worthwhile to look into uh, find it fascinating.

So with this i mean obviously my own potential or my own, very specific interest in what is or isn't going on. I am going to be interested in these two seeing their relations to robin hood citadel securities and to see how all that plays out so just wanted to talk a little bit about the sec infighting. Another thing we could talk about is mr dave lauer. Here next week there will be a hearing in the case where citadel is suing the sec over the iex d limit order type.

I wrote an explainer here very good explainer. We will be going over it. You guys know me, i'm not the biggest, not the biggest person on reading reddit and showing off reddit, but whenever dave lauer writes something i find it to be very, very useful and it positive - and i feel like i learned something i feel like the community learns Something i am very very well aware: i've recently made a video that states what's the point in just hopping, on the hottest hashtag of the day. For example, we just see ban this, this person's live.

We see all that and what that i think is going to be not a bandwagon and actually useful for me, for you, for the market at large. Is this one right here citadel is not retail hashtag citadel is not retail. I think it's going to be very important this week and particularly more important next week. Let me explain why.

Let me talk about what's going on, mark your calendars, iex in exchange a lit exchange, which it's kind of a smaller exchange. I believe it was founded in 2012. there's a good book written on it, michael lewis, flash boys check it out. I recently did a podcast with them just so you know, i think that actually is uh coming out tomorrow, october 20th, i'll i'll share the link and everything but became a national security exchange 2020 in my notes, 2016..

Very, very interesting. So just so, you know a little bit of the background on iex, founded 2012 became an exchange in 2016., their entire mantra in the book flash boys was, we see a lot of weird things going on with high frequency traders. They went to fight against latency arbitrage. There was many people who were abusing stock market plumbing and they were just faster.

They were the usain bolt of trading, they knew stock market plumbing intimately they never really carried any risk. That's high frequency training, just very very fast iex, basically came in and they tried to fight that they tried to, in certain ways, use different orders and different techniques to provide, what's referred to as a speed bump to battle these high frequency traders and right now they Are going to the mat they are going to the legal mat with citadel monday october 25th. So in six days from now, just a little bit about iex, you can check out their website right here. These are all the national security exchanges there's about 16 lit exchanges.

I would argue: 12 of them are like serious ones, as you can see, there's repeats for the various things that they are aren't doing, but investors exchange llc is iex and then this is their main website, so go into the mat with citadel citadel. Whenever i see this lawsuit of like citadel trying to do something it okay, it's going to make me uh very, very interested in what is or isn't happening. Well, this one is particularly all about d limit discretionary limit, a d limit, it's a type of order. So, like the way you have the various orders market orders stop blah blah blah.

It goes on and on d limit is a very fancy schmancy one where you got to put on your like the way they created it. Is they basically just plucked all these fancy schmancy mathematicians they're like we need to make it better and here's what you need to know d limit behaves like a regular limit order, except when the iex signal, which they're using a cqi a crumbling quote indicator, predicts that The price is about to change this triggers delimit orders to automatically reprice to one mpv minimum price variant of one cent for most stocks outside that level. So here's what they're doing you're doing a limit order and they're continually monitoring seeing what's going on and if they're about to predict a price change in your favor they're gon na automatically update your order and get you that better fill. If they see that.

Basically, all these sharks, the high frequency traders, are about to run rampant. So that's an improvement and we have the stats behind it. I would highly recommend checking out these two articles written by iex d limit. One of these things is not like the other, so this was written in february of this year.

I found it very, very interesting in the article they're literally saying: hey, we want more training done on lin exchanges, because it's better for price discovery and various other reasons, but anyway this delimit order. Here's the stats on it. So what you need to know is it was announced in 2019 and when you have a whole new order, you it can get drawn out a while in terms of the sec and here's what happened through my research. I was finding that 2019 to 2020.

It was just being discussed why, because it get getting pushed - and you know who was pushing it saying: no, no, you can't allow this. It was citadel, so the one-year wait was the maximum possible weight they could have done and at the end, iex prevailed like the smaller exchange, beat out big old, big old guy citadel and scc's like okay. Finally, this can go live so right now these delimit orders have been live for an entire year 2019 to 2020. They were waiting it out.

It went live, i believe, in october of 2020, and then from that moment right now, citadel's trying to bring it back up citadel pulled out every single stop possible to get the d limit from being a live exchange. And it's weird, as i'm about to show you from some of dave's post citadel's like oh, no like we represent retail like we are fighting for retail. That's like imagine! If facebook just came on and be like, no, no we're collecting your data for your good, like it's just a crazy argument, but as you're about to see the improvements, it's all across the board and i'm not going to go over every single word about this. But look at iex d limit be in all these other exchanges once again, depending on how you want to look at it, this d limit order.

It's superior uh, not necessarily the best in this one, but out of what the four or five graphs i'm showing you iex is the top in terms of this d limit order for various ones, and then they did a follow-up um. This was when it was getting going and that first one was how they were talking about it, going, live, and then this d limit they were talking about more of like the follow-up of how it's been going uh once again, the metrics are very impressive. So for more of my math based viewers who like want to dive into why this is or isn't good, then the truth is in the numbers. There's no other way to put it but d limit.

They did what they set out to do d limit all about they're, predicting that something funky is about to go on. They think they could get you a better fill they get you a better fill it's a limit order that is trying to stop latency arbitrage. Another way for them to battle high frequency traders so check out these two blog posts by the company themselves, and it's very very interesting to me because it seems like we're in this world where we're continually seeing this the mantra of citadel they're gon na lie. I mean if you go all the way back to iex, just getting started as an exchange citadel has been fighting with them from the very start, like they literally campaign that iex should not be in exchange since before day, one, let's go into negative time.

That's how long citadel has specifically been fighting with iex and for me maybe i'm like i don't work at iex. I have nothing to really do with them. I did a podcast. I had a great time, but i'm i'm just seeing the same thing almost that we're fighting for of the david and the goliath, the small guy, taking out the big guy.

That seems to be iex. It's a smaller lit exchange, trying to battle and do the right thing for everyone. Who's using the exchange, whether traders and or investors and citadel sees that the direction that iex wants to take the market as in beneficial for everyone participating in the market. But maybe not necessarily market makers, making it more difficult for them to be profitable.

That's why citadel's fighting with them every single second of the day, literally before they were in exchange citadel, already had a problem. This just seems to be the continuation in a litany of legal battles between the two and when i know when i pair it up like that, it's like well, okay, i get that we're all gon na be supporting iex. It makes a lot more sense, but dave lauer's right up. You can find this uh.

He posted it d lauer it's on super sunk, citadel's, lawsuit against sec over iex's d, limit order; type, very, very crazy. So with this i just want to clarify. Citadel has already campaigned against d limit. They lost that fight with the sec, and now this is actually kind of crazy citadel to my understanding is suing the sec saying that the methodology and the due diligence they they did to approve.

This delimit was wrong, like they're. Just pulling out every stop, they possibly can, and if you really look into it, it has me a little bit concerned because well actually, let's get into it, and then i can show you like what i find to be particularly concerning in one week remember monday, october 25Th, a panel of judges will hear oral arguments from citadel the sec and iex in a lawsuit that citadel has brought against the sec. Regarding the d limit order, it's worth mentioning that virtue wrote a comment letter in support of d limit. I've interacted with virtue.

Quite a bit over the years, and i've generally found them to be more flexible and supportive of innovative market structure efforts. Once again, these are all the words of dave lauer. This is where it gets really funny. Remember how citadel basically has been having a meltdown on twitter and they're like look at us? We were the only one providing liquidity, we're so great and like they always act as if they're on our side but like that seems a bit crazy.

Just remember the people who allegedly have our side, they accuse us of being the same level, believing americans have never been to the moon. That's the same citadel that we're talking about like having our back right now. Does citadel trade on your behalf. Do they represent retail investors or traders? Do you think that the brokers that citadel or other wholesalers pay for your order flow represent you either, obviously not because citadel and all of those brokers hold themselves out, as representatives are retail investors, as if they are incentivized to protect you and ensure that the market Is designed for your benefit rather than theirs? This would be hilarious joke if it wasn't the truth, don't forget not that long ago, citadel paid a 22 million dollar fine to the sec for misleading clients about pricing traits um.

Obviously, there's a lot more info in here. All the blogs and everything i'm going over if you guys are more interested. I wholeheartedly ask you to look into it a bit more. I'm just trying to give you the highlights of the scenario of what's going down iex as an exchange was built to counteract the impact of latency arbitrage.

This is extremely overly simplistic, like i said they started in 2012, really got rockin as a nsa national security exchange. In 2016 and hey they're the little guy on the block, but i truly believe that they are fighting for a better market structure and a better market system. So for the people who really want to know. What's going on, iex developed something called a cqi, a crumbling quote indicator now.

If you read some of his write up, it's very very fancy schmancy. This is like literally phd mathematic level stuff, and it's actually very similar to how high frequency traders how they do their thing, how they make their money, so iex is doing it re reverse engineering, it the other way to help predict when this latency arbitrage could happen And that's how they help people make better positions, so the cqi it watches price feeds and supply demand in order to forecast when an impending price level change is coming. When the indicator fires some ix order, types, don't trade, they wait to be repriced to the new price level before being able to trade. This reduces the opportunities for latency arbitrage.

The d limit order type is one of those order types. It is a tool that is created to protect investors from latency arbitrage and it uses the same technology that high frequency trading firms used. In order to do so, like i said, they're reverse engineering. What hfts do and they're trying to get you a better price fill.

It's that simple: what's crazy about this cqi thing, you can see it on their website uh to my understanding. It came out in 2014 and it seemed like they were continually updating cqi every year and then it it just kind of stops. It stopped in 2018.. I was like, oh okay, that that's a bit interesting and then 2019 is when they announced d limit and then that's that's when citadel blew a gasket.

So i'm seeing all these updates to cqi uh, just improving it because remember the the market is not static. It's very very dynamic, so they have to continually improve it to be able to battle these other high frequency traders. But the updates just stop, and i was like oh okay. That makes sense.

One year later we have the d limit, and then that was in like tied up in courts and legal, legalese and bullshit with the sec for about a year and it went live, it's been live for about a year now. I just showed you all the improvements and like it's quality that it had, but to my understanding, the the cqi, the inherent thing that delimits based on d limit comes from cqi. Just so, everyone knows not being improved and it makes me wonder, is citadel so incredibly corrupt, that they're going to bring in lawyers legalese and the sec to stymie the development of better market structure, better market mechanisms, because right now, i'm not seeing any more development on It and i'm assuming with iex on a relative basis being like the small kid on the block compared to citadel i'm assuming that either what their resources are tied up or they're they're worried about improving on it. Maybe it makes their legal case a bit worse.

I don't know i'm not a lawyer, but what i can see is that citadel is mud, slinging and they're stopping the improvement of the overall markets. Let me continue so if citadel is suing the sec, there must be a lot of firms that oppose this order. Type. Referring to the d limit nope, was it a controversial approval when the sap sec approved it nope? It was a unanimous vote by the sec commissioners, not only that the firms that support iex in this innovation actually represent the interests of retail investors, so the sec i mean they, they approved it.

It was unanimous and then they had all these other people who were like no d limits: good 33 asset managers, 14 pension funds and just huge names, vanguard, capital group, vertu, stevens, goldman sachs. Just so many were like this is in support of d limit, even xtx. Xtx, i believe, that's another high frequency trader uh market believes iex limit right here is one of the largest. You even have high frequency trading from saying no, this is a good development.

It seems like the sole party who does not want this to get out. There is citadel and if you're, seeing a soul party such a citadel trying to not get something out, it i mean almost inherently makes me in support of it um and right here. This is this is kind of interesting, so you can see some of the arguments from citadel in this whole debacle and the sec, even the sec isn't buying the idea that citadel trades on behalf of investors citadel is not directly rounding. The customer order to exchanges, but rather is, for example, buying shares for its own account and selling shares.

That's citadel citadel has legitimately said in like a regulatory body that they're trading for investors they're arguing that citadel is for retail, and i don't need to tell you guys, but the opposite is actually true. Uh, the sec defends itself overall by explaining that it agrees with ix and there's a latency arbitrage, and that is a problem for liquidity providers on ix. But the overriding issue is one of the incentives and representations, and it seems obvious to me that iex deserves retail support in this fight. So there is a tl, dr.

That explains it. So, basically, what you need to know high level iex is a small lit exchange that has come up with a very fancy order, type that helps battle. Latency arbitrage, which is one of the main mechanisms that high frequency traders use to make their money and they're saying we can battle against that and get better fills for our clients. That's what's been going on every single step of the way, not just this d limit thing.

It seems like every time anyone at iex takes a breath. Citadel's like i'm suing you i'm suing you i'm suing you illegal, illegal, illegal citadel is very much against iex. I mean there's a litany of court cases, sec cases that prove all this and with it i mean i i don't know, i'm not a lawyer. I can't tell you which way this will or won't go, but i know that the court case starts on monday, october 25th and dave lauer is bringing this up and i think between now and then maybe on the 25th.

I would love to get this rocking, because citadel is not retail. Their argument is that they are in support of us that they represent our best interest. I don't buy it and i don't think any of the actual facts by it. I think it's just a a silly argument that, like they just put out there because, like they're, just trying their damnedest to like make it act as if it's true but yeah, i think on monday october 25th, when the court case starts, we should look at this Citadel is not retail and what i will be doing in the back end, if, if possible, um, because i was had the privilege to be able to talk to iex on their podcast, i'm gon na see if one of them would be willing to come on.

This show and to explain the court case to us to explain if iex their thoughts on retail their thoughts on ape nation. Their thoughts on amc jimmy the scc all of that stuff i'll reach out to them and see if they have some time for one of their people to like explain to us a little bit more. But this is just kind of the the deep dive i found myself in just recently after really looking into what's going on with all that crazy sec, infighting, but very, very interesting stuff and we're hoping it's going our way and the final thing i really want to Talk about before we just open it up to questions and all that good stuff is crypto. Crypto crypto running, like a madman bitcoin hit six month high as first bitcoin futures etf bito starts trading.

The pro shares, bitcoin strategy exchange, traded fund started with 20 million of seed capital, and it is now ripping ripping ripping so remember. This etf uh basically think of it a a basket tracking various things. This particular thing is directly tracking bitcoin futures, not bitcoin itself, but bitcoin and bitcoin futures are highly highly correlated. They commonly move in lockstep, but just understand when you buy it that isn't actually buying bitcoin.

It's not like you buy 50 of this etf and they go out and buy 50 of bitcoin. In fact it's bitcoin futures. So it's the difference between cash settled and physically settled um. If you want that direct exposure, what you're looking for is a spot etf.

Those are physically settled, which is direct ownership and grayscale is looking to, i believe, convert their g b, t c, which is a kind of a crypto trust into a spot, etf, um, they're, looking to file for and hopefully is rocking by the end of this year. But more in the short term, there are three other applications, or maybe four, but definitely at least three. It might have been four in total um and one another one. Another bitcoin futures etf might get rocking this week and uh.

The way bito is being run by proshares this one, that's looking to go would be by valkyrie um. So there's just a lot of positive sentiment potential new ira money flowing into crypto, and it's just it's more accessible. I think that helps a lot, so it makes sense to me right now that crypto's running, like an absolute madman, here's b-i-t-o uh opened up at 41-ish, ran all the way up to 42 came down to 40 and right now we're at 41.60 so bito. This is the pro shares one we're looking for the valkyrie one to come out this week and hopefully, hopefully, the grayscale one, the spot.

The etf comes out very very soon, but overall we're seeing more mass adoption for crypto, specifically bitcoin between the american public u.s regulators. Us government, and with this acceptance it makes sense that we're seeing all these things go up because inherently every single step of acceptance, it kind of mitigates some of that risk um. So those are all the main things i had for you, the sec in fighting. What's going on with citadel versus iex, obviously i'm in high support of iex.

I haven't really nothing to do with them. These are just my own thoughts on it. It's not like. I have iex equity or anything like that.

They didn't ask me to say this. This is just hey. I see citadel is once again at their game of bullshit, and i feel, like my channel in a certain sense, has almost been come, like the the main argument of it or the main purpose of it is just to call out bullshit where we see bullshit, and This is one that the the case is getting rocking in six days, so i'm definitely gon na be paying attention to that and crypto's running right now. Our stocks, amc amc, is down 3 on the day.

Currently, trading at 41.70 gme is up 0.3 on the day trading. At 187. i mean with it. I mean i'm right there with you.

Obviously i want every day to be a green day, but don't forget four green days in a row. Is it okay that we ran into serious resistance and we're taking a breather? Of course, that's: okay, that's a natural ebb and flow cycle of the overall market. This does not surprise me at all, literally in yesterday's stream various times i told you don't be surprised if we get rejected at 44 20.. I call that 4420 as a very short-term target.

I've been calling that out now for two or three weeks yesterday, i was telling you it's serious resistance. We've run for four days straight, don't be surprised if we need to take a bit of a technical, breather, uh adam aaron, on fox all right. Let me get fox fox live, oh, you know, britney says she wasn't there for her. Britney says she was i'm pulling it up pulling it up.

Why can't i find it? I should probably what show is this the clayman countdown? I think it's the claim and countdown. This sounds like an ad. Let me uh, let me sign in already have an account sign it. Why can't i find this all right? Let me get this up.

Let me get this up. B-I-T-O is it on the clayman? Countdown is that the right show everyone, because i she's talking about bitcoin all right yeah. If adam aaron comes on all like i'm listening to it. I know you guys don't have the audio uh, but if he comes on did it already happen? Adam was on cnbc great interview.

Someone said that he was non is what are you guys saying? Did he tweet out that he was doing this uh uh? Let me find adam aaron. Did he tweet out that where he was i'll try to find the clip for everyone, adam aaron, nope, don't see it there cnbc do we have it here, not seeing it there does anyone in discord know actually where it was real me timbers, mr bouley, shout out Uh, actually, as i'm trying to find this tilray till ray tillery till ray confirmed tuesday, the expansion of its leadership team, with the appointment of blair mcneal as president of tilray canada, so tilray expanding its leadership team uh democratic senators bill would let dc legalize marijuana sales Against biden's wishes so looks like some potential potential developments. Positive development did this come out today, an hour ago, all right, let's see what adam aaron had to say, actually what a wild ride amc has had since this pandemic. Here i think, a year and a half ago we fought for our very survival in 2020 and we won that battle, and in january of this year we were able to say we made it now.

Our business wasn't back that we had raised uh billions of dollars to survive uh, whatever the pandemic would throw at us, and then this year it's actually millions of retail traders have descended on amc uh. We have over four million stockholders now uh. They have small positions on average, but when you add them all up, it really is the evidence of the democratization of wall street uh, the uh, all the conventional wisdom. All the experts pass them aside.

It's the individual investor who now owns amc. I work for them and when you talk about the rise in our share price - and i hear so many naysayers say well look back in 2019, your market cap was x. How are you ever going to get there and they predict our stock would fall? Look there's only one thing: i'm certain though stocks rise, they stay the same or they fall, and nobody knows which way the future comes. But what i do know what jim cramer has been kind enough to say about amc.

You don't drive a car by looking in the rearview mirror. You drive a car by looking through the windshield and looking forward, and you shouldn't look at what amc was in 2019, because why not? Because, let's let's forget about coven, can we because, let's, for a brief moment, the movie theater business was in decline before kobe? Well? Actually, a couple of things there, because that's a big and important question: brian um, the movie theater business, was not in decline before covent. In fact, the industry box office, which is the measure of the health of our industry, has been growing for 20 years. Uh, it's been growing by the combination of price and volume of tickets sold correct, not the amount of proliferation of theaters.

But we don't measure our success by the number of theaters or number of attendees. If we bank dollars and the box office was growing and has been growing for uh, i think i think we had positive bucks over 17 in the last 18 years now. Having said that, uh it's hard to put kobe aside, because we are dealing with coven and again naysayers about amc, quick to point out that we're not yet back to 2019 levels, pre-pandemic and we're not, but we're so much stronger today than we were in the third Quarter and the second quarter and the first quarter, and in fact the 14 days that we just came through october 1 to 14, the first two weeks this year is the highest two-week box office that our industry has seen since february of 2020 20 months ago. That's good news for us: it feels to us that we're on the way back, but the question is: where do we go from here yeah? We have absolutely no intention of just bringing back the company that existed in 2019 because we raised so much money.

Our shareholders have armed us with what was, at the end of the second quarter, a two billion dollar task war chest a cash and liquidity war, chest to go out and transform our company, and we have several big ideas that we're working from what to. What give us a we've heard about football games? I'm a charger fan i live out. I can never watch the games. Can i go to an amc theater soon and watch the chargers play tyler's washington, football team? You can, at some of our theaters watch some nfl games each week.

We are in discussions with the nfl right now to broaden our rights so that we can show all the games that we want to show as opposed to some of the games. But where are you in this negotiations? Can you give us a little hint early, we're showing we're showing that we're showing it but you're talking we're showing nfl games right now, but we're early in our discussions with the nfl about broadening those rights? But we've talked about professional sporting events, we're so we're showing some ufc events and some wwe events and some professional boxing events. We've shown that metropolitan opera. We have something for everybody uh.

We are showing uh concerts now yeah and we're talking some of the largest movie music companies in the country about expanding our concert offers, but that's just beginning, because what that's doing is still expanding our theater business yeah. I think that there are other businesses and related to what we do now related to our expertise that are entirely different from what we do. Uh, we've made a lot of noise in the last few months about getting hyperactive in cryptocurrency, and there are a lot of reasons why there we go uh could be a successful issuer of cryptocurrency as well as a redeemer of cryptocurrency, and that's just one of the Half a dozen ideas that we're working on right, one of half a dozen today's ten percent running. I like that.

I like that. I like that i have the liz clayman one up uh. I i see right here that uh adam aaron's, coming on in less than two minutes, so i have that up as soon as uh as soon as we have that i'll play it we're just waiting for some of these to end but um. I like that.

I mean we've been talking about the expansion of amc as a business for quite a while now, and i love that he's getting into cryptocurrency hello. My name is angela roberts, ceo of u.s money reserve on behalf of our entire company. I'd like to thank you for your continued excitement. This year, we celebrated 20 years of waiting waiting waiting, anywho, like he said, they're getting into nfl they're, getting into professional boxing they're getting into ufc they're, getting into concerts they're, getting into operas.

They they're expanding just beyond watching a movement they they are. Taking this absurd opportunity that, honestly, the apes had given them and they're using it to improve the business. That is incredibly smart, uh and i want them to be successful. Why? Who would root for a company to fail that that doesn't make sense um and obviously it takes time, like you said, we're already doing some nfl and they're in taught early talks for additional nfl viewership, but hey it.

I think the numbers are gon na work for everyone involved, so why would they not do it? Sometimes you just have a blatantly good business decision and that's just the nfl i mean you could talk about the nba, the mlb soccer, like all the sports. Why not? When there's a major sporting event, why not include it on the big theatrical experience like it's? It's a no-brainer to me and i think it's a no-brainer to a lot of people and that's just some of the things that they're doing, but i think we're also seeing a build out in crypto. So so smart bitcoin bitcoin cash, litecoin ethereum dogecoin. Now people are even pushing for rasheed all that is very, very smart, especially in the short term when we're talking about inflation and what is or isn't going on with that um, i am a huge huge fan of crypto and hey bitcoins running ethereum's, looking good sheeb's, A little bit flat, cardano's a little bit fat right now, bitcoin and ethereum are looking phenomenal.

I don't have it up, but if you want some, it's so easy voyager. These are all the coins that they have at amc shares. They are moving higher right now. Charlie gasparino is at the annual milken institute global conference in la and managed to grab amc, ceo, adam aaron, just a short while ago, and break some exclusive news for the clayman countdown.

But first charlie you've got some more news on that sec lawsuit filed against ripple from ripple ceo tell us yeah, yes, brad garlinghouse, i can never say his name quite right, good guy uh. We spoke to him yesterday. We asked him about his suit. In the context of what's going on with the bitcoin etf and what the sec is doing in terms of regulation, listen to what he had to say, i think it has had a stifling effect here in the us uh.

You know. Hopefully we get to the end of this there'll be certainty and clarity, and frankly, it could be a very positive thing for the xrp ecosystem community that it's the one crypto where there is clarity, it is certain. Do you see a settlement of your case in the in the works like? I would love to spend less time on this uh and be able to move forward. You know the one thing that ripple cares about more than anything and really for the whole xrp ecosystem.

Is that there's clarity going forward that xrp is not a security? If that's not in the cards in a settlement, then there's nothing to well there. You see it. I think liz i think he got. I think people at ripple are actually annoyed, that the sec is approving a bitcoin etf, while they're attacking their xrp and ripple and, as you heard no settlement, unless there's that very fine point, that xrp remains uh uh security.

Excuse me a currency and not a security, thus outside the sec boundaries, let's go to adam aaron, fascinating uh conversation i just had. That was the best thing about milk and liz. You could just talk to people they they're walking by and i we we ran into adam and it's interesting. What he said is this.

He goes amc. The theater chain is going to be a different company in the next year. It's not going to be purely theaters. Now i tried to get out of what it is he promised to go on the claiming countdown and it talked to you and i about what exactly those changes are.

But he told me within the next couple of weeks amc is going to put, is going to announce a meaningful change. It was, it was the words he used meaningful change in its business model that will tip the hat on where they're going in the future. So it's fascinating. He did talk about the amc, eight community.

You know i get. I get a lot of well he's. He basically says they're the reason why they're going to be able to make the changes the fact that they rallied behind the stock they've, given him capital, two billion in capital, he can grow the business. He can.

You can build it out, he could change it and we're gon na see where he's going with that in a few weeks uh. He also thanked me believe it or not for some of the comments i've made about him, and this is where he and i agree. I think he's a very good ceo. I think if anybody was given a horrible hand, he's uh looking at at streaming.

You know which which hurts the obviously hurts his theater business. Uh he's got. It had a pandemic which, which is still going on, which obviously hurts he's done some incredibly innovative things to keep things together, and you know what he's not a bser. If you read what he says he he admits.

The stock based on historical, real trends is way over it's trading at way too high of a price and there's a risk here and there's a risk here and there's a risk here and so um he's very forthcoming about that. But he did say this. He said: listen, you know, amazon wasn't built in a day and we went back and we said you know what people used to say that jeff bezos back in 2000, had a book sell a portal for a bookseller. Therefore, the stock was only worth six dollars, but, as you know, it's worth a lot more than six dollars today he said try to imagine he goes, i'm not saying i'm jeff bezos, but try to imagine that's where amc is going to go.

I'm going to change stuff, i'm going to innovate and you know he i believe i mean i think, he's very smart. You look at the moves. He's doing. It's really smart.

How he's trying to fight to survive? And you know i will say this um. No other ceo, i think in america, was dealt the sort of hand that he was dealt given the pandemic and streaming i mean that's a one-two punch, yeah and he's still kicking now. Part of it is based on the apes and he acknowledges that, but he's just not sitting there on his hands. You know, i don't know if you heard me the stock price we had jamie rosinski, who founded the wall street bets reddit room at the top of the show.

He is insulted by the sec's indication in the report, which i have right here, which basically blows off the apes efforts and the the fact that they chased a lot of shorts away and the fact that that you know amc is up 1008 year-to-date by the way. I read, i read the report, i don't know if that guy read the report. This is what the report really said about the apes and adam would agree with this. I think there is no short squeeze in amc if you want to go and - and you want to buy this stock because you believe the mother of all short squeezes are coming and it's going to and it's going to explode you're, probably probably just throwing money away.

If you want to support the company, because you like the company and you think adam's a great ceo, that's another thing, but that whole short squeeze notion did not play out really in the meme stock. By the way. That report also said that this notion of naked shorting is a bunch of malarkey but charlotte. The report says the media characterized trading in gamestop as an act of rebellion intended to humble short-selling professional investors who had allegedly targeted the stock.

What part of a hundred and thirty percent of the float being shorted at gamestop is alleged? I mean that to me is right away? No, no! No. What does that mean? You know you people need i'm not saying you, but maybe you too, you need to understand how markets work by the way one choice, part of 130 percent of the shortest, is alleged. What do you mean why? Why do you care, whether it's a legend or not? Well, that's a loaded word is saying that that oh allegedly, the whole report is a loaded the whole. The whole report is a loaded word.

If you read what they said, i think this was one of the strongest, the strongest part of the report. What they said was the conspiracy theory, and this is after tons of analysis and by the way gary genzer would want stop screaming in my ear and gary genzer. Wouldn't i'm not saying anything crackdown on on i'm just what i'm just telling i'm just telling you this! That report shot down every every conspiracy, but it pumped up the gamification acting like these retail investors are stupid and they're distracted by shiny objects. They didn't it didn't.

They said they liked the stock. Stop it. I read, i read the thing so did i have. It? Did you read the report? Okay, now i'm getting yelled at just because you have it right here doesn't mean, doesn't mean you read it.

Oh okay, uh go back to aaron. Just keep, keep keep, keep keep keep keep keep looking at. What adam's gon na do, because he's gon na be he's gon na, be making news in the next couple of weeks. I've broke it on this.

Show, charlie gasparino live from beverly hills in the milken conference. We're coming right back, don't go away! Well, if, if you don't laugh, you're just gon na scream, honestly, honestly, honestly, honestly, if you cannot laugh at charlie, you're gon na end up screaming, and unless you have a high equity investment into your local heart doctor, you better be laughing because your your heart health! It's not a joke, it is not a joke. Do not, and i i know i know i myself am an abuser of this - a victim of this. I let my blood pressure go way way too high.

When i hear that ding dong open his face, that's fascinating! This is mainstream media. This is what is the bar to get on mainstream media? Is it just did? No one else like apply to be to be a pundit or something this okay, there's so many things we need to unpack from this so charlie gasparino. An hour ago at ceo, adam tells me there are big changes to amc. Theater's business model coming we'll have more at 3 45..

So, even that that one tweet like we have so many things to go through here, that one tweet that one one tweet will have more coming at 3. 45.. My question is: what was more, he he just said: oh, oh he he reiterated his tweet that made it to national television. He literally just said: oh yeah, no adam aaron told me more is coming.

He. He just reiterated his tweet. That was good enough to get on national tv, and i i did not know if liz clayman was on our side or not she that was hilarious. Like that's such a good point, she brought up a very, very valid point, allegedly being attacked by shorts.

What is a legend about a 130 percent short interest and then he's like they just don't know how the markets work? What is this this? This is. This is a funny farm folks. This is a funny farm. You have freaking farmer charlie there in charge of just like his own crazy thoughts and comments.

What's what's beautiful about this very honestly, what's beautiful, do you think he works on these like beforehand, he's like oh, this line is a load of bullshit that i'm gon na. Like it just comes to him, so naturally these absurd comments. She caught him for a bit there she's like what are you like? She hit him with too much logic and you saw him like short circuit, like rewind the video you could see his brain start to fire he's like. Oh wait, shit! That's a really good point.

I don't think he was prepared for liz to like hit him with a little bit of like logic right there like what is alleged about 130 short interest. How is that not being attacked and she's like like he just freaking lost his mind there, that that was good? I am super super happy that we got to watch that that that made me laugh. That was good stuff right there um, i i hey, maybe maybe i have to reevaluate my opinion on ms clayman uh. I i think i might have to because man i thought she was against us.

I really really did and then i don't know she's just dropping the hammer on him. That was that was perfect. I got a tweet at her or something that was so funny um. I here you go at liz clayman, that's hilarious! 130 percent! Here you go liz.

Clayman allegedly used to convey that something is claimed to be the case or have taken place, although there is no evidence wow she took that was hilarious. This seems like proof to me good stuff, hey you got to call them out. You got to come out when you have them. I uh.

I just did this quick tweet at her.

23 thoughts on “Ep 109 sec infighting, citadel vs iex d-limit crypto pop dumb money w/ matt”
  1. Avataaar/Circle Created with python_avatars Steven Taylor says:

    We Going To The Moon! ๐Ÿ™Œ๐Ÿ™‰๐Ÿค‘๐Ÿ’Ž๐Ÿ’Ž๐Ÿ’Ž๐Ÿค‘๐Ÿ™‰๐Ÿ™Œ

  2. Avataaar/Circle Created with python_avatars WhatsAppโž•+โ‘ โ‘จโ‘ฃโ‘ โ‘ฆโ‘งโ‘จโ“ชโ‘ โ‘ฃโ‘จ says:

    *Thanks for watching don't forget to hit the subscriber button chat me immediately for more info with this digit above*๐Ÿ‘†

  3. Avataaar/Circle Created with python_avatars I create my own good luck says:

    130% heavily shorted AMC stock is a conservative calculation. Very likely it's a much higher number

  4. Avataaar/Circle Created with python_avatars I create my own good luck says:

    Continue screaming in his ear.

  5. Avataaar/Circle Created with python_avatars I create my own good luck says:

    The squeeze is coming. You just have to be patient

  6. Avataaar/Circle Created with python_avatars Joe T says:

    ๐Ÿ”ด$0.000000022 Saitama inu & baby saitama inu. BUY before the HYPE grab a bag life changer๐Ÿคฏ๐Ÿ’ฐ๐Ÿ”ด๐Ÿ’ต๐Ÿš€๐Ÿš€๐Ÿš€๐Ÿš€๐Ÿš€๐Ÿš€

  7. Avataaar/Circle Created with python_avatars StockStalker says:

    How does Charlie even have a job ? Please interview smart people โ€ฆโ€ฆ.

  8. Avataaar/Circle Created with python_avatars StockStalker says:

    Charlie already trying to re-direct his old views โ€ฆ..yeah, stop flattering yourself Charlie and kissing Adam ..you kicked him when he was down โ€ฆ.Apes know who their friends are and you are not it

  9. Avataaar/Circle Created with python_avatars StockStalker says:

    Love their music !

  10. Avataaar/Circle Created with python_avatars VENUS says:

    Where's the song link?

  11. Avataaar/Circle Created with python_avatars Rory D says:

    People really have to wake up to dogira and go check out the whitepaper!

  12. Avataaar/Circle Created with python_avatars Scott Maywald says:

    Letโ€™s get organized have all lives by a share of AMC on one day

  13. Avataaar/Circle Created with python_avatars CoffeeCaptain77 says:

    Dogira to the moon!

  14. Avataaar/Circle Created with python_avatars Lianne's Place says:

    "There's a risk here" x3. Way to hit that point home. Good lord! Thanks for all you do Matt!

  15. Avataaar/Circle Created with python_avatars Jau Hee says:

    BUY AMC SHARES, forget about options

  16. Avataaar/Circle Created with python_avatars boytar55 says:

    Dogidogidogiraaa Dogidogidogiraa

  17. Avataaar/Circle Created with python_avatars HoverBoyG says:

    Need a song titled โ€œKenny worth a Pennyโ€

  18. Avataaar/Circle Created with python_avatars Walid A says:

    Hi Matt,
    Where can I get a copy of that song you just played???๐Ÿ™๐Ÿผ๐Ÿ˜Š

  19. Avataaar/Circle Created with python_avatars Wendy says:

    Amc ๐Ÿ˜ญ๐Ÿ˜ญ๐Ÿ˜ญ๐Ÿ˜ญ๐Ÿ˜ญ๐Ÿ˜ญ๐Ÿ˜ญ๐Ÿ˜ญ

  20. Avataaar/Circle Created with python_avatars Kodai says:

    Bomb intro brotha ๐Ÿ”ฅ๐Ÿ”ฅ

  21. Avataaar/Circle Created with python_avatars Rani Wazenegger says:

    Thanks Matt…. youโ€™re the best!

  22. Avataaar/Circle Created with python_avatars Zach Harris says:

    Well it was definitely a turnaround Tuesday for AMC just not to turn around I was hoping for

  23. Avataaar/Circle Created with python_avatars Susan says:

    Great song!! ๐ŸŽต

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.