Citadel vs SEC, Stock Market Volatility & Cryptos Bounce
(AMC, GME, DWAC, PHUN, TSLA, Bitcoin, Ethereum, Shib & Solana)
Dumb Money w/ Matt Ep. 116
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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 lilly bones. As the apes stop breaking is give us the money, my sister's and my brothers, the fathers and the lovers. We don't need another fan, because we huddled through hard times money what is going on moon gang love it, i hope, you're having an absolutely fantastic monday morning. October 25th.

I hope you had a great weekend hope you're having a good morning evening afternoon night, whatever it is, i hope you're having a good one. My name is matt. I'm coming at. You live through the interwebs from my mom's basement to talk about everything going on in the world of finance, we're talking about stocks, options, futures, crypto, legal stuff, manipulation, everything related to finance, we're talking about it here and that's because, as as all of you damn well Know we are dumb money super super fun.

I have a lot to go over this morning. We have an incredible amount to go over this morning. It's going to be, you can already feel it. This is going to be a crazy week.

Lots of volatility, lots of news lots of movement, so so many things to go over so without me dragging it on too long. Let's just get right into it. Let's get a better prep for the day. So, first of all, the five things you need to know dow said to rise slightly after friday's record.

Close all three benchmarks logged their first weekly winning streaks last week for the first time since early july, and they are looking very, very good. This is the s p, 500 etf exchange traded fund. Think of it as a basket. This basket is 500 of the biggest companies.

There are stocks in the entire us look at this. We are cruising crews and cruising. We are. We hit a new all-time high on friday we had the highest close ever on thursday, so we're seeing if this is just gon na keep on going and let me just call out this price label right there, the all-time high, i'm not talking about this year, i'm Not talking about this decade, i'm talking about literally ever on friday, we had the highest stock market, we've ever ever ever seen before a lot of you watching right now might be like.

But what do you mean matt, like i'm hearing about inflation, jobs are tough. People aren't happy. What's going on, the economy still seems a little bit iffy yeah you're right, and that shows that sometimes the stock market and the economy, they can be related, they're off often correlated, but they don't have to move in lockstep and right here. This shows how sometimes your fundamental pricing isn't really too indicative of really what's going on, like underneath the hood, so that's the s.

P 500 uh 500 of the biggest socks cues a little bit more tech heavy, so we're not at an all-time high. We are very high in the grand scheme of things um, not necessarily within spinning distance, but we're in between 374 378 we're looking for the breakout of that and a continuation to 383 and then the russell 2000, the small cap sector. We like that. Just because amc is the biggest one in it.
We i've been calling for this breakout for a while whether you want to look at the w the cup and handle the wedge, no matter what you look at. There are various technical structures going on in the small cap sector that to me, just from the charting perspective, looks very very, very strong. I'm looking for this continuation above 229, basically 230, and maybe we'll get this run up into 233 234 or something like that. But once again russell that bodes very, very well specifically for amc.

The other thing that they're going to talk about is yields. Remember it yields up commonly you see, high growth tech down, but the other thing is oil. We hit 85 dollars per barrel for the first time since 2014.. A lot of people, especially those big wigs over at the federal reserve, they're going to be like hey, don't worry about inflation, it's transitory! This is expected.

We completely know what we're doing with these trillions of dollars we're putting into the economy, even though it's never been done before. We feel super super confident about it. Well, when you look at various very important metrics, it's starting to seem that maybe inflation's not as transitory as it's been always pitched to us right here, the cost of all forms of energy is sky high i mean i just had to fill up my gas tank For the first time in a while this weekend - and it was way way more expensive - i don't know where you are, but gasoline is up oil's up, coal's up all forms of energy up we're seeing new home permits going down we're seeing things like lumber's no longer At an all-time high, but it's still very high the cost of many things um. I actually was just reading that now.

A burrito at chipotle is 11 bacon sky high. When i hear that both burritos and bacon are getting to new high like how much longer as a society, are we possibly going to put up with this just a little bit of food for thought, all right, bitcoin has been going absolutely bonkers. We know that last week, i think it was wednesday hit an all-time high of 67 000 and a lot of that i mean crypto. Overall, it's just looking really really good right.

Now, it's trading just below 63.. It's a 1.1 trillion dollar market cap, um crypto's high! It's very very high right now, i'm a fan of it. I mean i marked this out as a good buy. It wasn't the best buy, but you'd be back to break even right.

Now, let's see how it plays out. She had an exciting weekend. It started to run and then at one point uh, the shiba inu account hey uh elon. How much do you have we know? Elon has like a crazy impact on any crypto.

He said none. So then it took a bit of a breather right there. But let's go back to it uh, so she still holding out 38. I mean i was looking for the break of 32 and then i was like all right.
Then, let's watch 36. It ran all the way up to basically 46.. So she oh like strong. I i just wanted to let you know this little self.

It was because of an elon tweet. Overall, i i mean we were calling this out on tesla when i'm like, oh by the end of the year, i expect a new all-time high and it wasn't that crazy of a call i mean actually tesla right now is destroying it. We'll talk about that in a second, but i think bitcoin ethereum, some of those main ones, especially bitcoin and ethereum. I just don't see a manner in which we don't see a new all-time high by the end of this calendar year, um, maybe i'm off base.

Maybe i'm not reading like the enthusiasm, because we have the pro shares etf. We have the valkyrie etf, those are bitcoin futures, but grayscale's even trying to get their spot etf, which will be directly owned. It'll be um cash shuttle or no. No, no, it might hang on.

Let me see what kind of settlement it is, but it's going to be the spot etf. So, instead of going into the bitcoin futures, it'll go directly into bitcoin, that's grayscale looking to switch over their gbtc trust uh. So i just see a lot of things: a lot of positive head or tailwinds like helping it helping pushing crypto along - and i don't know, i'm happy - i'm invested in it and i think it's just gon na keep going higher and higher. So facebook is reporting this week and it's an awkward time for facebook.

Today, former facebook data scientist whistleblower francis hagan plans to answer questions from uk lawmakers working on legislation to reign in the power of social media companies. It will be hagan's second appearance before lawmakers after she testified the u.s senate earlier this month. Facebook is in just there's reports coming out about how younger people are impacted by, like the stress and anxiety, it's not a good situation. There they're changing their name.

They're, like zuckerberg himself, is getting grilled by the senate. It's in very i don't know interesting time period and, like reports are coming out of india like how our people are abusing it and spreading false information. Uh big tech kind of crazy and then last week with uh former president trump's, true social, his shell company of a shell company, true social dwac, running at one point over more than 1700 percent in like one and a half days so in in terms of big Tech and especially social media, we're seeing the ground is really really changing. Right now, it'll be interesting to see how all this settles, speaking of which we do have various other things reporting.

So facebook is, after close today, you can get this from earnings, whispers, uh, binzinga. Also reports it mcdonald's is reporting apples, reporting thursday. I mean these. These aren't all of them, but this is like kind of like the main ones that people are interested in uh.

We have ge amd twitter uh. What are other ones? Ebay's reporting, there's microstrategy. This should be interesting, mstr uh, michael saylor. I had the privilege of speaking with him.
A lot of his books are directly in bitcoin right now with bitcoin, and it's a high they're going to be like some crazy numbers. Uh google aka alphabet, they're also reporting. So some big big names reporting this week all right. We talked about this just a little bit, remember of how i was speaking with crypto, specifically uh, with the etfs and everything with it going higher.

There are some - i guess idiosyncrasies as this article puts it, of the fact that it's not going to be physically settled there. It's not a spot etf, it is a bitcoin futures etf, but some of the numbers are still crazy in just a few hours. The etf. This is talking about the pro shares bi to amass 570 million in assets under management aum, making it one of the most successful debuts of an etf in history within a few more hours.

The number just about doubled - that's crazy, but in this one, if you're more of trying to get into the weeds of what's going on with crypto. This is a great article to read about some of the nuances, specifically what's going on with the the settlement, because remember futures run on contracts, so something good to know just for people who want to get a bit more into like the specific world of crypto and Then, finally, from the political world, we have to talk about basically, what's going on there, so biden, huddled with manchin and senate majority uh chuck schumer as the president's delaware home sunday to work on resolving the party disputes between centrist and progressives that have called uh stalled. The wide-ranging bill, so a lot of things going on there um we're talking about the social service climate change package, so at first they were coming in at 3.5 trillion now. The number that's being estimated is roughly 1.75 million, but it's in fighting within the democratic party of why that's not been passed yet so, apparently they made headway this weekend when the three of them were talking in delaware.

Um to my understanding, the president will be spending most of the week in europe for various summits. So i don't know how much more of a development we'll particularly be seeing on it. But that is like um at least something to point out like the the main political movement, because, if there's anything, we've learned lately, obviously politics and especially the federal reserve and the bills and taxes all that has a widespread impact on the overall market. So it is important to keep up on that, but the main thing that i've been reading is the package is dropping from 3.5 trillion with the t to 1.75 trillion.

So that's a bit of your overall picture stocks, crypto um! I want to talk about one individual stock right now and it's tesla tesla is running like an absolute madman, tesla currently trading at 4 950. So you, you have elon not just being the richest person in the world currently, but like he's, putting considerable distance between him and bezos at number, two tesla raised prices on certain versions of its model x and model s cars according to the company's website. Additionally, car rental giant hertz has reportedly ordered a hundred thousand tesla vehicles for its fleet. Tesla's shares are currently rallying on that note, so hertz hundred thousand vehicles from tesla obviously very very positive news.
Just in case you see that tesla's absolutely sky high. I know we've been talking about it, a bit more for the past two weeks, just because the daily chart looked like it was coiling for something very nice right back here, basically from september 27th, up until the 11th nice nice coil, and then you got the explosion And it's just it! This is way past it it's past an all-time high, uh we're talking about more than five percent past its all-time high tesla is absolutely crushing it right now so congrats to any of the tesla holders. I just wanted to bring that up, but beyond that we do have other things to talk about today. Dwac bouncing off of what is this 74 dollars all the way up to 113? You can see tesla here, amc bouncing off of at one point early this morning, 34, we're already at 35.50, would love for this to recapture 36 and then gme is at 168 bouncing off of 165..

We know 65 is clear support. We want it to recapture. Basically, 175 and keep pushing up to that 190 area of supply in terms of amc and gme. Just to start today out uh they've already borrowed 125 000 shares against amc today, and that puts the short interest.

Around 16.4 estimated utilization 86 shares on loan. About 105 million in terms of gme not much movement already today, the estimated short interest is around 11 utilization is 35.5 percent shares on loan. Around 7.9 million is what we have from basically friday's numbers now that they've updated this morning. So that's your quick just numbers on amc and gme when we get closer to 9 30 i'll, do the quick technicals on them.

But i do want to talk about some of the other things that are going on today, so very, very quickly, and i see that this is uh properly, making its rounds on social media so yellen. I have not been hiding my my thoughts on the uh treasury secretary yell in here. This is insane, though you guys have to listen to this very, very quickly. I think.

What's under consideration is a proposal that senator wadden and the senate finance committee have been looking at that would impose a tax on unrealized capital gains on liquid assets held by extremely wealthy individuals. Billionaires. I wouldn't call that a wealth tax, but it would help get at capital gains, which are an extraordinarily large part of the incomes of the wealthiest individuals and right now escape taxation until they're realized and often they're unrealized, and that death benefit from a so-called step. Up of basis, so it's not a wealth tax but um a tax on unrealized capital gains of exceptionally wealthy individuals.
So if you, the main takeaway from that is janet yellen wants, she is supportive of a bill that would allow them to tax unrealized gains. So let's say you are in a stock you're up 10, but you don't want to sell it you're just gon na hold it hold it hold it because you're, a long-term person um you would get taxed on that your unrealized gains. So you would. You would give that money over to the irs, be like hey thanks for just being in this, even though i haven't you this, oh my, it's so frustratingly stupid, so you put ten dollars into account you're in a stock.

It goes up to 15. You have a an unrealized gain of 50 percent. They want you to pay on that, even though you didn't take it out, so it doesn't matter that you may be. Don't have that money, like maybe your money's tied up elsewhere, they're they're, trying to make you pay, but what's crazy, is you would hand over the money, but let's say the next year: the stock goes down and you're actually at a net loss.

It doesn't matter you already paid the government on your unrealized gains. I've heard a lot of stupid things in my career of yelling at a camera. In my mom's basement, i've read a lot of stupid things, but this is one of the most ludicrous notions i have ever ever heard, of course, they're going to cover in the veil of oh, no, no like this is just for the rich people. I guarantee these rich people have the resources and the means to always avoid what they need to avoid they're, not dumb.

They have the connections, they have the resources, it ends up being the middle and the lower class that, even if you just have a little bit in whatever random account the the bor, the burden's gon na fall on the people who can't escape all these bills and Laws we are not the ones who have the resources to avoid loopholes and to me and to a lot of people who understand this at a much higher degree than i do would argue. This is one of the dumbest things i i don't even know how it seems like this was an article written by the onion and janet yellen. Just read it she's, like yeah. Let's tax unrealized gains it's one of the most ludicrous things possible and a lot of you might defend be like well.

Hang on. I heard that it's for rich people um once again, we've seen this pattern before. We have definitely seen this pattern before where they try at first like oh, it's for the rich people, but it ends up just just coming down to us. We've seen this.

This happened more so recently, yellen defends irs rule requiring banks to report all transactions over 600. This started out as a much higher value and just to be a little bit fair. There was so much pushback that they're like oh, no, no now we'll push it to to 10 000., but still it started at a high level of like hey we're trying to track like money laundering and people that have too much money and they're hiding it and They're not paying their fair share, but then 600 that's coming right down on your quote: unquote: average person. This is insane.
I don't know where she's getting information. My best guess truly is the onion like. I said this particular one. There was pushback, but transactions of 600.

This to me is a severe abuse of power and overreaching way way, they're abusing their power and they're just trying to find out too much of going on in everyone's individual life and honestly, i think this is a stronger argument for crypto of just saying: why are You like up our ass about literally every single thing, and it's weird, as you saw in this previous article, i think it's, the pot calling the kettle black right here - yellen earned 7.2 million in speaking fees over the last two years, and just so you know this Was written at the start of 2021? Let me i just want to double check the date for you um, so it was between, i believe, 2019 and 2020 um yeah, 2019 and 2020. So, in those two years from speaking 7.2 million, you want to know the real kicker of yellen of like oh, should we trust her. She on her side, janet yellen got eight hundred and ten thousand to give speeches at one of the firms in gamestop mess. That's talking about citadel, she got eight hundred thousand dollars for speaking.

She showed up kicked in the door she's like hey. Let me tell you about some dumb ass regulation ideas and they're like sweet ken griffin's, like man, love that thank you so much. Here's 800 000. For some dumbass speech at citadel, uh was melvin, capital got emergency, blah blah blah like it's insane and - and this is publicly disclosed like this - is not me unveiling it.

I'm not like a breaking news story such as charlie, gasparino, like this can be found by anyone out there. If you know how to google 800 000 dollars dealing with citadel dealing with melvin capital and then she's the same person that like nope, we need to track everything over 600 bucks, we need to tax unrealized gains. This is absolutely ludicrous. You think a person who's getting this payday from someone like melvin someone like citadel or just all these wall street elites, you think she's making something that actually damages them come on.

I mean that is ridiculous. Speaking of citadel today is the day. Today is the day. I tweeted this out right here today is the day so citadel versus sec, it's starting today, um they're.

Second, on the docket. A lot of people are estimating that you're gon na start to hear maybe around 10 15. 10 30.. There are two people before, but what's going on is citadel is suing the sec if you want to have a more full breakdown.

This is posted by dave, lauer citadel's lawsuit against the sec over iex's d limit order type. You can find this on reddit. It was posted by d, dave, lauer right here, d lower, so just google, this reddit great great information, but a high level view. I already have a video on it if you want to get like a full breakdown.
It is this one right here: citadel doesn't support retail it's on the coors light channel. It was posted five days ago. I did a full breakdown of lauer's comments. Its connection to iex ix is a lid exchange.

They have an order, type called the d limit that helps with latency arbitrage. It's a way to battle against high frequency trading. The sec approved it about a year ago. It's been live for a year.

Citadel is now suing the sec saying. No, you should have never approved it, and their actual argument is that they represent retail and that they're for retail and that iex is somehow the bad guy. But it's it's just that is not the truth. I implore everyone to either watch that video read that thing by dave lauer, but that's exactly why we today and i've been calling this out for about a week.

Cidel is not retail citadel is not for retail. I would love to get this trending number one. I rarely rarely ever ask for you guys to tweet retweet anything like this. I saw it at number six at one point today.

I think it might be number seven right now citadel is not retail citadel is not for retail. If you guys are on twitter, i would truly truly appreciate it. This is this: when we're talking about what can we fight for from a market structure standpoint to make the market better, we do not want citadel winning this case against the sec. We need to let our voices be heard.

So if you have twitter, if you could throw that out there um, it would be much appreciated. Where are we at right now? Uh, oh, wait. Is it dropping more? Do i not even see it uh? Oh, it was that number seven. We definitely need to get that back up.

Did they just unrealize this trending? Where did it go francis hagan uh? I guess it's not trending anymore. All right. We definitely need to get that trending once again, but uh just so. Everyone knows the court cases, i mean it started at nine, but they are about third on the docket.

So the estimation, depending on how long the ones before them get going uh good shot that they're around 10 15. 10. 30. Just so you know um i'll be listening to it and then in the power hour stream i'll do my best to kind of sum up.

What's been going on day over day, i don't know how long the court case will or won't take, but it is important to know what's going on citadel from the start has always been against iex and because iex is against high frequency training they're trying to actually Truly be supportive of retail, so even before its inception, citadel was against iex. They never wanted them to be in exchange. They fought them at every single, every single step, and with it i mean, since i was fortunate enough to be able to do that, podcast with iex, i'm hoping that i can just use some of those contacts be like okay, like what's going on. I understand that there might be some legal implications because i obviously iex is tied up in the lawsuit as well um, so maybe we'll get the rundown after it's concluded or something like that uh.
But it is it's very, very interesting and it's just citadel being citadel. Once again, the entire situation is just crazy. So when i, when i got going today - and i said there's just so much going on - there is so much going on yellen is doing her insane thing. We have citadel doing their insane thing.

The markets are going crazy. We're seeing volatility kryptos going nuts, so so much and unfortunately, it's piled on to one more degree. I thought this would be over. I thought this would be over a week two weeks ago and we're still seeing this incessant fighting from.

I guess amc versus gme. I cannot articulate this enough if you like amc. Congratulations, if you like jamie! Congratulations, if you like both of them! Congratulations, if you like, neither of them! Congratulations! I'm not here to tell anyone to buy something to sell something. I'm here to share my own opinions of what i believe is going on and articulate it to the best of my ability.

But one thing i am damn well positive about is, if you're an amc ape a gme ape you're in the exact same boat right now. This is not a situation where, like oh somehow, one is gon na do amazingly well and the other one isn't you're fighting for the same thing. In my personal opinion, both of them are symbolic of the fight for market transparency and fairness, and i don't know why. Um, i don't know why, at all, people are trying to argue like against the one.

If you don't like it, just don't buy it, and i i see these, like nobody accounts, trying to call out myself trying to call out trey, and i was thinking a lot about it and it's weird because, like as a human, you want to respond. You're, like man like this, is a lot of stupidity and you want to hit back and that's like a uh. A human emotion just be like. Why, like this is some of the dumbest stuff i've ever ever heard of, and you you want to you like in a certain sense, like that's a human thing, i feel like you just want to crush me.

Get angry. You're like this is dumb. Why are they bringing my name into this, and then i just realized it's sad. That's i've realized.

This is the state of social media right now, people will say whatever they can for the opportunity to ride someone else's coattails. So with it i mean i, i tried to better understand, and these are my opinions. I i can't make this more clear. I believe in amc, i believe in gme i own amc, i own gme.

I can't debate someone about it better, because then it seems like i'm either attacking amc or attacking jamie. So i'm not going to debate anyone related to it because i, like both, i don't want it to ever, come off that, like hang on, he stood up for one of these so well and destroyed someone in a debate about the other one, because then it looks Like i'm attacking the other one - and i need to make this like crystal crystal clear - i never want to attack either of them, because i'm in both how dumb would that be for me to speak early or prove my point by winning a debate against a nobody. When i i want both like, i wouldn't want to hurt my own financial interest, it makes no sense. I like both.
I think they both have a ton of potential. Hence why i put my own money in it with that being said, um some of these people in this community are trying to argue that uh for some reason that it's like that, it's fake and it's simulated and i've never traded. And i like it's crazy to me that i even have to um address this, but here let me give it my best shot just to like get it out there, because maybe some people don't understand. What's going on and like you might question it, maybe especially if it's your first time watching me, i all of my trades are real trades, um and here's what's going on.

I could. I could sum this up very very quickly. So if you go to my oldest videos, i've had videos way way before amc and gme. Like look at this over a year ago, i started in march of 2020 when i started when i started doing all this.

I started with like trying to teach algorithmic training on the futures market because i thought that was my niche. So if you look at one of my videos right here, this is some of the software i used to do some of this stuff. It was algorithmic trading, interesting, stuff, they're old, like i'm, not saying they're like that good of videos, but if you look at it, this means this information right here i was back testing. You could see the year up to 2001 and people are somehow pointing out.

Well, hang on a second performance. Results are hypothetical and all trades are simulated. That's a disclosure, because i simulated the trade i mean. I don't know, i don't know how old you guys think i am, but i was not trading on the futures market.

When i was seven years old, so for me to get these results to get the like, the quantitative breakdown, the analytical breakdown of what was going on, i had to simulate because, like folks, i wasn't trading the future, the gold futures market, when i was seven years Old and then things took off, i didn't change my disclosure for quite a while, and people were like well hang on. He he wasn't. None of these trades were a lot of. You are going to believe me you're, like oh, that makes sense.

He was teaching about this trading, i get that they weren't simulated, but for maybe those of you who are on the fence of like hang on matt you're, always talking about hardcore evidence. You got to give me something that i could like measure. Okay, go to any of my streams, especially the weeble one. At that point, when i was swinging over what over half a million dollars on weeble, you cannot pay-per-trade an options account.
If you see anyone actually in an options position, there is no such thing as paper. Training options on weibo the fact that i own options in and out of options shows you it's not a simulated account because it can't be the only paper trading options account i've ever heard of is think or swim at least for people in the u.s. If you're on weibo go ahead, give it a try, you cannot trade a paper account. You cannot simulate options trades on weeble, it's impossible.

Anyone can fact check me on it. People are just bringing up it from like when i was in 2020 doing that old thing, and it feels idiotic that i have to bring this up. But it's just i see, there's a couple: people there's a handful of people from the gamestop world who my only logical conclusion is that they're infiltrating shills or they're, just dumbasses, who are trying to grow their own social media to the average person out there, who's listening Right now, please understand that most people who support amc also support gme, most people who support jimmy, also support amc. Of course, you have these outlier groups of like crazy people with tinfoil hats who, like don't know their ass from a hole in the ground, but you're always gon na.

Have that this between the two communities? I would argue that the supportive group is over five million people when you're talking about probably easily five million. It's gon na you're gon na have a lot of people with a lot of different opinions. So just want to clear all that up, but the bell goes. Ding ding ding, the casino is open.

Let's get rocking all right, so tesla crazy, high amc. 3650. Let's see how this is gon na get going today. Folks, let's see how this is gon na get going.

Dwac 108. Did this already get halted? I think dwac already got halted. Did it only take a couple seconds? Yeah trading hall? It took 33 seconds for dwac to get halted today, uh, absolutely insane, absolutely insane. Does that mean that phun also got halted within seconds? It probably didn't.

If i, if i had to throw out my best guess, if i had to throw out my best guess where are we at uh b-e-n-e is the play people 10 million float in training, let's see them tennies to amc. I swung p-h-u-n and dwe assume in the weekend. How boned am i i don't think so i mean i'm in. I don't have phun, but i'm in i have a very small position in dwac myself, just because it's fun um.

I think, because the risk is very, very high. I didn't want to do like a sizeable position. It's like less than like. I don't know it's probably less than two percent of my account like it's just i thought dwac was fun because, like when you see things absolutely going bonkers, like i don't know it's fun to have a bit of skin in the game.
It's this is in no way a fundamental play. Dwac is functionally a shell company of a shell company. This is all pure thought. This is a a weird anti-movement against big tech.

It's a uh support of the previous president. Like there's a lot of ways. It's a huge momentum play, it's a high risk, high reward swing play and that's why, like with it, the fact that it is obviously high risk. I just took a really small bet and i thought it was fun um i think dwac can keep going.

I think phun can keep going. I think they both have crazy potential, but they also both have crazy risk. So i ask everyone: please just be careful about, like your risk, make sure you're actually utilizing proper risk management. Looking at true demon's thesis with short exempt volume.

Coming due starting wednesday, prague may get very interesting this week, uh prague, prague, prague, prog prog above three again man, so prague's on the move. So many movers we're talking prague above three like some crazy stuff, could definitely happen. Tesla continuing sky high. What is tesla doing right now? What is tesla tesla tesla tesla.

Do i get that's the golden question is: do i get back into my my tesla training, speaking of quote, unquote, dwac halted so insane. Oh man, those tesla days, people talking about simulated trades. I wish my tesla trades were simulated. I'd have a lot more money to my name.

How can i get the live? Pre-Market charts like you have. I don't have that and would like to. I use weibull as well. Um it's on weeble.

It's a setting somewhere extended hours trading. This is trading view uh, i use trading view, but you just have to like enable enable extended hours trading crystal down with citadel down with yellen shout out crystal or text update before the market opens yeah. We did that a little bit and i'll check it about like 15 minutes in to see how things are going to start to settle. Madames.

Do not you're concern yourself with the opinions of sheep. Let them bleed they like the sound of their voices. That's always um. As a human, that's always a tough thing for me to like kind of weigh out, because most of the time, i've learned that just like engaging with these people is an absolute waste of time.

They're they're, a lot like, like you, said, they're the opinions of sheep who are just trying to somehow like in one way or another abuse the community. But it's weird because, like as when you are your own brand, it's like well, which ones do you try to get ahead of to just like stamp it out, because then i see the messages of like well like, if why wouldn't you respond to this like it Should be easy for you to disprove and i'm like well, that's always the awkward it's like a rock and a hard spot. It's like! I don't want to give credibility to uh like a nobody, who's damaging a community but also like as a human. You want to defend yourself when someone's just like clearly lying and has like never looked up the word research in their life, so they don't even know how to do research, and i think, that's a human thing um, i would argue nine times out of 10 when It comes to social media; it is best to just completely avoid it honestly.
The answer is probably 10 times out of 10, but i think just like that human emotion gets in there and you're like oh, like i want to like defend this one, and i don't know i i guess it's weird it's weird, but as i get more and More into this, i just realized it's better and better to not ever engage with anyone that does that type of stuff congrats on getting verified on twitter, uh brandon. I appreciate that it it's been a while and it was completely why, like it was out of nowhere. I was just sitting there uh at dinner last night, and i just got this email because i've applied three times and i i just basically sent in all those segments about like when i was on cnbc when i was on fox, like the write-ups from business insider And they're like nope you're, not notable nope you're, not notable nope you're, not notable so i kind of gave up on it and my argument was just like. Well, i see a lot of people getting scammed.

It would nice to be verified, so people could ensure that it like came from my account and um. I i gave up on it and then randomly. I just got an email. Like last night, i was just sitting there from twit or in my the email associated with my twitter account it just popped up.

It said: congratulations i was like i gave up on this. I didn't they just like decided. I don't know if they like reviewed one of my previous applications, but it was like completely random completely out of nowhere. Um super exciting stuff.

It was cool, but i just hope i really really hope it just cuts down on the amount of scams, because it i find it to be absolutely heartbreaking that the amount of people i see who are like, like f you matt, i sent you money. You said you were going to like teach me about trading. I was like well, what's the account and then they sell send me. A different matt underscore course account like a different one of like some weird variation of that.

Like hey, like i'm sorry that you got scammed but like that's not me like we're talking on my real account right now, so i'm just hoping that it helps with that to help, like i don't know, help ruin these scammers days, because it's it's absolutely horrific. All right, tesla's still ripping there's so many things going on right now, dwac we are at 104 phun, 950, all right, so we'll watch tesla, potentially going to hit a thousand today it ran all the way up to 971 insane. Have you seen what satsuma is doing? I have not what's crypto doing uh bitcoin going so lana going she looking strong eth. Looking good, i mean this is crazy.
This is nice. I love the action i like, what's going on, opportunity opportunity uh, face plan to become a company ticker brpm, interesting faze clan um, i mean i know a phase clan, just like obviously they're big in the world of social media, especially when it comes to the gaming Sector but like i don't really know too much about how like the revenue model would look or how profitable they are. I just don't know much about their actual business. How's.

Your share, transfer status, stephen great question: it um it failed. I i reached out to public - and i was like hey what's going on with my shares and they're like sorry to report - that your share transfer has failed. So for whatever reason my shares in weeble, i guess, are stuck in weibull or i could try. Another share.

Transfer, but it's just weird because, like i've waited for so long and i'm like wait now, i need to restart it and trigger another 10-day cycle. Um it it just. It seems way way faster and i get it. I know that there's tax implications depending on where you are or aren't, but it just seems so much faster to deposit money into the account and re-buy shares on the new account um but yeah.

Unfortunately, my transfer from weibo to public, i waited more than the 10 business days reached out to public. I was like what's going on and they're like yeah, for whatever reason your transfer failed. So that's that's! Where we're at there. Your ttg interview with sailor talked about crypto blockchain, increasing accountability and cutting down on spam emails, false info on social et cetera.

I think this is the backbone did trump say, truth, social. That would be interesting. I mean i do think we need some form of a social media that does help cut down on, like the spam attacks. Uh the scam accounts um, like fake information, getting their needs.

The reason why we have so much fake information and so much spam is because it costs nothing to put it out there. It is 100 free to create all these accounts. All those comments on twitter all these comments on youtube, like all you see them under my videos, like a fake mac, chorus of like pinned by matt coors, and it's like a what whatsapp they can do that because it costs them nothing, there's there's! No, they don't get into any trouble and uh in in a certain way. There's no accountability for them whatsoever.

Tesla got an order for a hundred thousand callers from hertz yeah. We covered that crazy and it explains why tesla's up a nice five percent right now and is up even more before i had trouble as well. It turned out to be an issue with the transfer of cash in, in addition to stock once i removed the cash transfer, it went through right away. Oh maybe that's the way.

I need to do it. S, k, l, z, p, h. U n has a blockchain pull of true social. Has blockchain crypto blockchain to pull off true social but yeah.
The issue with phun right now is none of that's actually been confirmed. It's a big assumption that uh phun will be building out the social media site. For truth, social, but once again none of that is confirmed at least to not to the like the best of my knowledge. It is rumor and once again in the market we do have the saying: buy the rumor sell the news.

So it's a money-making opportunity, but i just want to clarify to everyone: it's not like there's some official report or it hasn't been discussed by like the ceo, like. I don't even think the wac has a a known, cw uh ceo. Yet, but it's not like the p-h-u-n ceo is like oh yeah, we're totally building that out. Once again, it is rumor and yes, you can make money off of rumor, but i just want to make sure you're like up to date on what is or isn't happening there pg, when we have that check.

Swbk swbk switch back corporation um. The fact that it's trading at ten dollars means tells me that the announcement of like who they are going to acquire uh has not happened yet sklz. Let's check out that how's, this one doing up three percent. It seems like everything this morning had this like everything, went, green right away and now we're continuing to sell look at amc, gme skills tesla.

Is that how the spy is looking? The spy has just been straight up, selling iwm went up selling, it seems like uh. Besides the spy, it seems, like everything else, had this pattern of up then down currently selling, while the spy thus far has just been straight up: selling uh s-h-i-b looking spicy. What are your thoughts on sheba token, ripping over the weekend? Uh i mean i like the enthusiasm i really do so she to me is a it's just a community driven thing and if there's anything, i've learned from amc jimmy in doge over the this past year. This calendar year is that you cannot underestimate the value of community and that's what sheep has and it's growing.

It's not necessarily the biggest community at the moment, but i'm supportive of it, because it's just like kind of an it's an anti-movement to dumb things that we see like with yelling going on um. I know there is a lot of. I don't know. I guess like argument between doge and she, because she that first branded itself as like the dogecoin killer.

For me, i'm in both it's not like i'm giving up one for the other uh. I bought doge way back when i never bought she. I got some from doing a voyager questionnaire. They gave me like 250 worth and or maybe 200 worth, i think, but it my my sheep game, like i said i never put my own money into it, but right now my sheep has gone from 200 to 1200, which is a 1 000 gain.

Oh no! No, a thousand dollar gain. A 500 percent gain thousand dollar gain 500 percent. It went from 200 to 1200, i own 31 million. Like i said i, i got it from uh doing a voyager questionnaire um and i have doge too.
Basically, i have a thousand dollars of both. I have a thousand dollars of doge. I have a thousand dollars of sheep right now. The communities behind both of them are truly undeniable um and that one of the biggest things i'm learning right now is like the the value of a community the when there's such an outspoken community.

That can like really get things done and make ways on social media. Typically, that lends itself to making serious money, and i think that's what we're seeing in it and that's why i think you can take multiple bets. You don't have to be like all in on one thing: all in on one thing is not good trading, it's not good investing. It means you have no consideration for risk whatsoever.

Uh, nothing is ever guaranteed in the market. What nothing it the market is not a world of a 100 or zero percent. We, the stock market, futures market options, market crypto market. The odds of what can happen is it's between 1 and 99.

Nothing is ever ever guaranteed whatsoever, so be because of that. I just don't know if i would ever get on board would be like. Oh, you have to be a hundred percent in whatever in one thing, that's just not how, like i mean i've been trading for years now, a decade i've been trading, investing in all types of things and the longer you get into it. You just realize it's not a smart, short, medium or long term move to be all in on one thing, you need a bit of a diversification, so for that i don't know, i don't see an issue being in amc and being in gme being in sheb and Being in doge, uh being in tesla and being in lucid, i you just have a built out portfolio of the things you like i'm in bitcoin ethereum, so many different things: cardano solana um this, this concept that people shouldn't be diversified and you're you're only a supporter.

If every single cent of your life is in on one thing, it's just higher risk higher reward. If you hit it big you're gon na hit it very big, but if you don't hit it big, you're, risking quite a bit of money and that's just um, i'm in like the world of the market. It's a marathon, it's not a sprint, at least for me. I'm not in the market for like a get rich, quick like explosion in out, never trading.

Again, i like the markets. I have a passion for the markets. This will be the remainder of my life. So it's at a certain point.

You have to realize it's about capital preservation, not just some like one singular yolo play and you hit it big and then you're done with the market. If that's your goal, i'm not against you, like, i hope like i wish you. I truly wish you the best of luck. It's just not.

My personal methodology, like i am very into the world of risk reward, uh, quantitative analysis, qualitative analysis. I like to know my numbers i like to know it. I treat it like a big mathematical puzzle. Uh, that's the game for me, but that's not it for everyone.
These are my own opinions, i'm not a financial advisor, i'm not a lawyer, i'm not clairvoyant. I don't. I don't have any of those abilities. I just let you know my own thoughts on what i'm doing, but at the end of the day, you're you're, risking your own money.

So you have to do your own dd. You have to do your own research. You have to have your own financial responsibility and be comfortable with where you have your moves. If you are making decisions based on what you read or hear or interpret from social media that that's extraordinarily dangerous, that is extraordinarily dangerous.

A lot of people on social media, don't know what they're talking about a lot of the times. They are limited to the characters that they could put out there. So maybe they don't fully express an idea, maybe they're, saying something and the way you're interpreting it. Maybe it's two different things.

There's so many things that can go wrong, that uh basing trades on what you do or don't perceive from social media. That's dangerous! You can get lucky and make a lot of money uh or you might get caught and lose a lot of money. It's just if your dd is social media. I'm not saying it's wrong like there is utility in social media, but if your dd is exclusively social media, that's not good! That is not a good situation.

What's my opinion on mmat so and that's not one that i've been like hardcore following um with matt. I know it kind of got like hairy ever after the trch acquisition and then there's like that specialty share that represents the dividend payout if you transferred from trch to mmat of when they acquired it with it. It seems like the short interest in met is not really shown because it like it almost came through on trch and it's just a complicated story um. So i don't want to lead anyone astray, because i just don't know about it.

I don't feel the most comfortable talking about things that, like i don't like, know that much about the story with it uh one of the main accounts that i see continually being updated and informed on mmat. If you want to check them out on twitter, is uh. Trey's subway cup, that's a good starting point. I have no mat.

I haven't been too up to date. On the story i mean i could look at the technicals, but i don't think that's going to do you too much right now from a technical perspective, it's selling off. We have obvious support at four dollars, which is about 40 cents away roughly what 10 9 of a drop to that major support level. So i would watch that from a technical perspective, i see a shoulder a head, a shoulder, a technical breakdown of five dollars so from a technical perspective, i'm not too happy about it, but of course it could just base and go from there, but really nmat seems To be more of a play that you have to understand what happened with the acquisition from trch? What's going on with that specialty dividend shares uh some weird scenarios going on with matt.
It's not um such an apparent story when you like just first look at it. How's phun doing right now, p-h-u-n fighting back dwac, fighting back amc, obviously fighting back, unfortunately, gme uh coming up to a big support level at 165. You definitely want jimmy to remain above 165.. It's key support.

You don't want to see that level of demand get breaking down. Uh broken down. Excuse me, prague is looking nice, prague, 335 prague above 333. I have marked out.

I think that sets up a move to 370.. I have no prog position. I have no phun position. I have a small long position on dwac and a big long position on amc just so everyone knows but uh prague.

I see. I think this is about to move to 370. tesla 949. I think this is coming back around 9 50.

uh prague, prague, prague. Can you keep mark up what is mark? I haven't seen anyone. Oh wait. There are a lot of people now asking about mark.

What's going on with mark remark, holdings remark. What is remark? It's trading 120 million. Oh, it's up! 100. Was it like an acquisition when you go gap up and it goes red? That's not good that that means that the price that was happening in pre-market trading is not being accepted by the overall market, and it tells me about the gap phil um.

It makes me think. Oh okay, i wonder if there's an opportunity to play this gap. Film back down to 245. gap.

Ups are very dangerous to chase and i would never ever consider a gap up that goes red ever it's just. It means the market does not think that this price is the appropriate price. Remember so much more volume is traded uh when the market actually opens opposed to pre-market. So when you're not seeing it accepted, this is different if it gets back up to its opening value, but as of now the fact that it opens and goes red right away, don't risk being a bag holder.

There is a chance. This could go to 245.. I'm not saying it's going to i'm just saying from a technical perspective, i see a gap up going red right away. I think of a gap bill like instantaneously and i know there's a lot of people out there who think that uh so exercise a bit of caution with that one people talking about b-a-n-e uh.

This is another spac play and uh. I don't know who they're acquiring, but they are up. 38. Remember.

Spax are priced at 10, so this means it's up. 60 percent. Ever since the announcement i don't know who they are or are uh acquiring, but it looks like it's bending back around the way. A lot of things are, we see amc with a nice v-shape thing, but dwac got beaten down in 95 kind of pushing above 100, again phun beating down to nine kind of pushing 10 again a lot of things sold off or basing and they're just trying to Build up momentum, so it looks like b-e-n-e p-h-u-n-d-w-a-c all have not the exact same charts, but i would say a related chart.
Amc looking good look at this v-shape gme also catching a bid right now, when is the hearing uh it's it started today, but there was two court cases before the citadel versus sec uh. It's estimated that it'll start around 10 15 ish. It's hard to tell, because you don't know how long the other ones are going to keep going. B-E-N-E and mark are part of the dwac thing.

What do you mean part of it um they look like individual companies like b-e-n-e and mark are, like, i guess, various other like they're, just other spac plays, but still from a technical perspective gap ups going red that it's typically not a good scenario. I say typically because of course, there's always counter examples to any charting thing that you're seeing uh, but with it when it gaps up, and it can't hold that new price that i don't know it concerns me all right, but i'll throw mark up we'll see uh. I obviously have no marked position, but i would be a little bit concerned about that gap. Bill down to 245.

shebe jumped to number one in popularity on weeble amc number: five, interesting um.

21 thoughts on “Ep 116 citadel vs sec, stock market volatility cryptos bounce dumb money w/ matt”
  1. Avataaar/Circle Created with python_avatars Kimberly Sauly says:

    The Best trader with the best strategies and Indicator ever!
    Good job to Scott Huffman, he’s an excellent trader

  2. Avataaar/Circle Created with python_avatars Muhammad Rakhshan says:

    Sir I just cannot tell you how much I admire your trading style. So simple yet so elegant. Always keeping risk management at the top. Have been trading with Scott Huffman for 8 months and yet no losses, when you’re good you’re good! God bless you sir ❀️

  3. Avataaar/Circle Created with python_avatars DNA pro solo says:

    I've been unsure about the market due to volatility, at the same time I still feel it's the right time to make profit cos of the price decrease, heard someone speaking of making over $700k from a $180k capital since the pandemic and I'm driven to ask what skillset is needed to achieve this.

  4. Avataaar/Circle Created with python_avatars This Guy says:

    I support both.

  5. Avataaar/Circle Created with python_avatars Mike says:

    Shorts will lose

  6. Avataaar/Circle Created with python_avatars EDM says:

    A R T M ico worth buying?

  7. Avataaar/Circle Created with python_avatars paul thind says:

    Matt I hope you get better content in the future, getting lame dude. Not to be an A$$ but seriously, looks fu*ing stupid when you look at it, funny thing is you don't care cuz you're getting paid but it's really getting old…do something

  8. Avataaar/Circle Created with python_avatars MuleyMcWoolhead says:

    I guess we should tax her on the gains of her realestate holdings. Oh your house gone up 300k in value in the last few years, better give the irs 100k of that.

  9. Avataaar/Circle Created with python_avatars Paul Pham says:

    that intro music is so fire

  10. Avataaar/Circle Created with python_avatars Calle6 Casa88 says:

    I should have never sold Tesla to buy AMC.

  11. Avataaar/Circle Created with python_avatars Yo Akimbo says:

    Hey Matt, any chance you could explain why you aren't conversing with Josh aka HeyItsPixel? He's been in this fight longer than you, and you grew your channel off of his and other's DD essentially. But now you act like reddit doesn't exist! I've never heard you use the word superstonk! It's crazy! That's ape central. I don't understand why! Please Unblock and converse since you believe in apes helping apes right?

  12. Avataaar/Circle Created with python_avatars rachelannedc says:

    Very informative! Thank you Matt!

  13. Avataaar/Circle Created with python_avatars John Conner says:

    Im dumb as fuck but my money dumber

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

    Hope you had a great weekend Matt!

  15. Avataaar/Circle Created with python_avatars Bailey Miller says:

    Getting ready to just stick with Crypto pretty soon. Have really bad luck. Not really losing money with the stock market because I make up for my losses with my gains, but with all that's going on everything is a load of crap and everything is manipulated.

  16. Avataaar/Circle Created with python_avatars Sandro Gutierrez says:

    Can’t hear anything

  17. Avataaar/Circle Created with python_avatars David Welbert says:

    I have about 5% of my portfolio in uranium bitcoin any advice on any other crypto currency that I can grow my $300k capital to a million dollars?

  18. Avataaar/Circle Created with python_avatars Torii Jedi says:

    I might be in love with you Matt, in another world.

  19. Avataaar/Circle Created with python_avatars Penelope Liverpool says:

    Love the intro song! Does anyone know the artist?

  20. Avataaar/Circle Created with python_avatars Hein Van Hoof says:

    ​As a Belgium shareholder i am Angry at HOW OLD YOUR POLITICIANS are, FFS they are dinosaures. 65 is retirement age here so RETIRE.

  21. Avataaar/Circle Created with python_avatars The Apefathers man child says:

    Apes together on AMC and DWAC. Our posts won’t get blocked and deleted on his platform. Buy and hold πŸ”

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