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Market Volatility Increases & Earnings Season Continues
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Dumb Money w/ Matt Ep. 120
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Give us this day our i'm the simplest bubba trying to sell some damn shrimp can't spell like you can't even count to 10 and i eat crayons. Every day with my friends, i think about kenny in his ivory tower, shaking in his lilly bones as the eggs overpowered stop breaking the laws. This, like a quarterback right here, we got more smoothies than a jumbo. We don't need another fan, because we huddled through hard times money, hello, hello, hello.

What is going on, i hope, you're having an absolutely fantastic day, if it's your morning your afternoon your evening, your night, whatever it is, doesn't matter, hope, you're having an absolutely great one. Today is wednesday october 27th: the market is about to open in 30 minutes little less than 30 minutes, and as always, we have a lot to talk about to figure out what is going on today. Oh thank you. I appreciate that amber.

That's very kind of you. Lots of things to talk about lots and lots and lots of things to talk about we'll be talking about stocks, we'll be talking about futures options. Crypto we'll be talking about manipulation, insider trading, abuse of power. We got it all.

It's going to be a classic shakespearean set up for you, you know we're we're just going to be building it up, there's going to be the climax and then we're going to have hopefully the resolution, but just like shakespeare, you might as well crack open like hamlet, Because that's what we have going for you today before we hop into all that just you know: amc currently trading at 36, 16 gme trading at 180. Just to get these numbers out early in the morning. They have already borrowed 1.16 million against amc today and they've returned 1.33 for a net return of 171 000 that puts the short interest back over 17 estimated short interest: the utilization 87.24, the shares on loan 106.76 million. So that's where we're at, and it's at one of these points that people might be like whoa matt, wait what what's going on duck kid! I don't get that there was a net return yesterday.

How is the short interest higher? Well, my little duckling friends, here's the situation estimated right here so, as you can see this last time around, we yesterday the exchange reported short interest. This release date came out yesterday, but it's valid for october 15th. So at that point, ortex was underestimating it. They were estimating 89 million when the exchange reported short interest was 92 million, so it was off by 3 million so because they were underestimating that came out yesterday.

So when the when their data got processed last night, they had to recalibrate their mind models and that's why we're seeing this jump? It's probably better illustrated right here of they recalibrated their models and that's why we're seeing a slight uptick in short interest? Remember we only get these every single two weeks in that time frame like we're always lagging at best by two weeks. What they're attempting to do is say: okay, this is what we're kind of seeing in trends they're doing their best to estimate what's going on because remember shorts that are taken that day of when someone actually goes short, that's not publicly reported that day, as we can See it came out yesterday and it was the information from october 15th. So, as you can see there we're behind by 11 calendar days, that's the battle that ortex is really fighting, and this is one of the biggest issues with being a retail trader. The quality of data that we have is far inferior to what wall street insiders have um.


So this is a good tool, but no one's ever arguing that it's going to be perfect. But i'm just here to explain that sometimes when they're overestimating and then they have to drop it like we saw on the october 11th one and the date it was from the september 30th settlement date. Uh people like they get all pissy they're like or texas, a shield they're paid off by citadel, and it's so silly - and i know it's a minority of people who are like that, like their tinfoil hat, is that tight that they can't even just see what's going On but for the rest of you out there just trying to understand a little bit by why every two weeks we see a little bit of either a jump up or a jump down, it's just attempting to recalibrate to better match. What's reality, i know: there's a couple people out there who, when it comes to exchange, reported short interest, they always say self-reported, and i find that very, very odd.

I guess in a way it is self-reported, but people are making. It seem as if, like hedge funds are reporting their own short interest, you know who actually reports this short interest like to the government finra members. Next logical question is: what in the world is a finn remember the best way for me to put this is a finra member is anyone who can actually execute a trade um hedge funds cannot execute their own trade. Obviously they have to go to a brokerage, so it would be more of that brokerage.

That's a fin remember so when people say self-reported, it's important for you to ask who is self? It's not hedge funds. Hedge funds are not coming out there and saying we're short. Like this, we know they don't do that. That's part of the issues with 13f reporting, so just a little clarification, and i feel, like i end up having to talk about this every single two weeks, because we do see a little bit of a jump.

But i just want us to get all on the same page there, and once again, that's for amc in terms of gme short interest coming in just below 12 11.79, once again, estimated they've already borrowed 10 000 shares against it. Today, for a small net of 6.3 000. yesterday was interesting because they borrowed half a million against gme yesterday. That was kind of weird utilization.

39 shares on loan now up to 8.27 million uh previously, like we were actually sub 8. So this is slowly but surely going up, and just for that, like similar breakdown of what happened, it came out yesterday, but the data was for october 15th and this one was a lot closer. So the exchange reported short interest from finra members. Not hedge funds came in at 7.7 million and it looks like ortex was estimating 7.5, so pretty close a little bit of an underestimation.


That's why? Similarly, we saw a little bit pop up because they're just recalibrating their models, uh, sometimes they're, very, very close, like and then previous times, they're off by quite a bit um. It's tough because you're, estimating you're trying to read the room on what all the craziness of. What's happening in wall street um, it's a tough predictive model and they're just doing the best they can, but with all this understand what is and what isn't estimated and also understand from just the most general sense that this is clearly a conservative floor estimate. They have 85 percent of market volume, so they're missing 15 of the legal, legitimate picture and they're missing percent of the illegal illicit picture, because they don't have that because you're not reporting illegal, illicit nefarious things, so they have 85 percent of all the legitimate stuff best Way to think about ortex all right so now that you know what's going on with amc and jimmy, let's give you a little bit more of a higher level view of what's going on in the market stock features flat as investors deal with a flood of earnings And yes, they did before we get into all the earnings.

Just so you know, yesterday the s p 500 in etf exchange traded fund that tracks 500 of the biggest companies in the us hit a new all-time high. There, maybe is a lot of confusing things going on in your life, and this is probably one of them. You could be like. What do you mean we're at an all-time high? That's insane! The economy doesn't seem like it's an all-time high.

A lot of you might have friends who are unemployed and can't get a job, but other ones of you might be like. Well, my friends are employed and yeah. They got a pay raise, but everything else is more expensive in the past year or actually, since late august early september, oil is up over 35. In the past year, from like november to november oil's up 135 natural gas is up 80 percent coffee's up 100 sugar's up 34 propane's up 162.

Poultry is up 33 and do not - and i repeat, do not get me started by the increase in price in bacon. I'll have a mental breakdown on camera. You don't want to see it. I save all my crying for the shower.

I am an ugly crier and if i just i'm already thinking about the increase, let's just let's just move on anyway market at an all-time high uh, it might need to take a little bit of a breather i'll watch 454, which was the resistance from the previous All-Time high, and just so you know there are now one two three gap fills that eventually will get filled, which is a money-making opportunity for forty seven, fifty four forty two sixty and four hundred and thirty six in terms of the cues another index that we pay Attention to a little bit more tech heavy. This one is very interesting because there's a lot of big tech companies reporting, microsoft, apple, google, twitter, like there's so many juggernauts reporting in thecube, even tesla had its last week. We are in the middle of earnings season. Lots of volatility going on yesterday, look at where we got smacked perfectly perfectly.


We were off by seven cents on this call, and this this was in no way special like how did he get that people like to act like technical analysis to some weird high-end difficulty thing yeah, it can get funky, but just for like a rudimentary breakdown that Can still help you make a lot of money just be like. Oh, it got stopped there before look at where it got stopped. Yesterday, a lot of the times it just becomes a self fulfilling prophecy, a lot of people zoom out on their chart. They're like oh.

I see it got hit here, let's sell there again, just in case other people are selling and then so many people think that that it actually gets rejected there, because we have too much supply in terms of the current demand, but also look where it caught itself. Yesterday, previous resistance, you see this a lot in the stock market, support becoming resistance, resistance becoming support. It happens, resistance, staying resistance, support, staying support. Basically, once you have an important price level, it tends to remain important as you move into the future, so anyway we're watching this region between 378 and 383 and then iwm uh, i announced when i got out of mind.

I was like hey. I, like 230, we've been playing it now for about, or i've been playing it for about a week two weeks. Something like that. I don't know.

If anyone else did. I i locked in my gains at 2, 30. uh, very fortunate in timing. I didn't expect it to go red on the day and then also gap down.

So i got that's that's when i say a big part of being a successful trader. At least i would say about 10 of it is gon na just be luck, and that was a lucky play. So sometimes luck is involved. We have a little bit of a gap down, but that's okay, because then we have two caps to play on the russell 2000.

We could play this gap fill down to 230 223, but with this gap we could also play it back up to 227.84. So you can play both gaps when the moment is appropriate. So that's your look at the overall market and the reason for the increase in volatility is all of the earnings. So on monday, after close, we had facebook, which was probably the main one of monday.

Then yesterday we, after the market, closed amd microsoft. Alphabet we'll be talking about all those robinhood. Definitely talking about that one! It's down over 10. This morning we had coca-cola boeing, mcdonald's spotify after market closed.


Today we have ford. Tomorrow we have shopify and merck. That's a nice coved play that people have been talking about after the close on thursday. Look at this apple, amazon, starbucks microstrategy and i guess on friday exxonmobil, but that's not the the biggest one anymore, but, as you can see.

Clearly, we are in the middle of earnings season. Speaking of that, let's talk about microsoft and alphabet: aka, google, so microsoft, it handedly beating estimates of fiscal first quarter, earnings and revenue, mainly because of the cloud computing business. So when i talk about my favorite industries to be invested in cloud, computing is one of them. This is my background.

I dealt with cloud computing and i just think the technology, if anything, is just going to continue to grow and grow and grow some of the best ways to play. This are through microsoft's, uh, azure, azure azure, i think, is how it's pronounced, and then you also have amazon's aws amazon web services. Those are the two dominant, i would say cloud computing plays, google has their own, but they don't have the most market share. It definitely goes amazon and then you have microsoft under that, and then you have google under that in terms of market share of cloud computing, but it is heavily dominated by aws.

Obviously, all those companies have other things. There's not like a pure play to get into cloud computing, but sometimes that's beneficial, because sometimes other aspects of those business can also be a lucrative investment but very very bullish on cloud computing for one two: three decades, you name a time frame, i'm going to be Bullish on cloud computing for it, speaking of google third quarter, earnings and revenue that exceeded expectations, however, youtube ad revenue and google's cloud revenue were below estimates uh. So this probably doesn't matter to any of you, but it's a bummer to me. Youtube ad revenue were below estimates, so that's a bummer, but yes, two of the biggest companies not only in the us but on the globe, beat their earnings and in the tech play.

So that might be good for the qs, the nasdaq today, because that's obviously a rising tide raises all ships. Now, let's talk about a company that didn't do so good. If you remember months ago, right after the ipo, i was brought on to a different fox program with ashley, and he asked me about robin hood and i was just bearish bearish bearish. I just don't get it.

Yes do. I have a vendetta against the company because i think they're, liars yeah, of course, but let's take our emotions out of it. Their business model very, very questionable. Most of their money comes from payment for order flow and obviously there's currently a social and cultural movement against payment for order flow.

Another aspect of their money comes from crypto trading, so at the start of the year payment for overflow, with amc, gme, noke bb that made that got them a lot of money. The next quarter dogecoin went crazy. They made a lot of money after that. This most recent quarter, you have people leaving robin hood and there's no explosion like a huge mainstream media story of explosion and trading.


So, of course, robin hood is not making its money and, as you're about to see they lost a lot. Not only was it a little down, but they are hemorrhaging money. The decline after robin hood missed the top and bottom lines of its third quarter. Results.

Revenue was dragged down by slowdown and crypto trading and robinhood warned that the headwinds in training will persist into year. End they're calling out for the remainder of the year they're, saying: hey, we're still gon na suck for the third quarter. Total net revenue came in at 365 million, which was under the estimates of 431 million, and it was a severe drop off from last quarter, which was 565.. Robin hood reported a net loss of 1.32 billion dollars in a quarter.

One quarter they pissed away over a billion dollars for the next quarter. When they're saying yeah we're running into a lot of headwinds, they're not expecting a revenue greater than 325 million, that's their rev they're going to be operating in a loss and they just had a net loss of 1.32 they're. Not even making up a fourth of this folks, like very, very low estimates on robinhood on the earnings call robin hood management described the quarter as one without a major market event like gamestop trading in the first quarter and the rise of dogecoin in the second quarter. So right there you have it first quarter, they made their money from options trading, basically the payment for order flow and options trading.

That's where that most of their money came from. The second quarter came from dogecoin training. This quarter, there would have been more opportunity if they actually got into xi, but they actually said that on the earnings call that they're not doing she at least not in the near term. They like that was the the one thing that i could like see.

Save them is that they were going to say oh yeah, but we're dropping sheep to kind of re, wash rinse repeat what they did with doge, but they said we're not doing sheep right now. So when that came out, as you can actually see right here, this was kind of the drop in sheep from it we got some volatility, but then people were like. Ah, we don't care about robin hood anyway, yeah, but them saying they're not going to do it, at least in the near term, is why we saw sheep volatility and then, after that, it didn't really matter, because we hit a new all-time high of 60, which is Congratulations if you're still in sheep, but anyway my opinion on robin hood has not changed. Bearish bearish bearish.

Yes, i have a personal vendetta against it, but on top of that, it's a the business model is a poor business model. Fda panel recommends covet shots for younger kids. The fda advisory committee has recommended a lower dose of pfizer's covid vaccine for kids aged 5 to 11.. Just so, you know, if you have a kid out there, on top of that merc the one who's trying to do like a an anti-cova thing, but with an oral pill instead of an injection.


They are talking with a un-backed public health organization that will enable affordable global access for what i'm not even going to try to say that word, because i'm just going to butcher it, but a little update on merck, i'm bringing it up because they have their earnings Announcement tomorrow and on the political front, democrats unveil billionaires tax to help pay for biden agenza, so let's actually dive a little bit more into this. The proposed tax would hit the gains of those with more than 1 billion in assets or income of more than 100 million in a year. So i am getting a a little bit of strange feedback on this uh people, for whatever reason, um folks, i'm a capitalist. I i am a i'm, a bleeding red white and blue capitalist through and through do i understand that there's clearly a need for some social programs, yes uh, so maybe like i don't know, i i i guess i consider myself to be a reasonable cap.

Capitalist. I see where there are some downfalls, but i see a lot of the pros and all of a sudden i'm talking about this about how this tax is crazy and people are acting as if i'm standing up for billionaires. I'm not because you know what happens, they introduce these taxes and they hit it at the the top class and a lot of people. That's all they see, they don't look into the history of how some of these taxes are implemented, because you implement a tax, you let a couple political cycles go and you lower the bar all of a sudden 100 million a year that drops to 10 million a Year, a couple political cycles: later 10 million drops to 1 million a couple political cycles.

Later 1 million drops to. We don't care if you have capital gains you're, paying taxes on it. It's one of these things: you give them an inch and they take an absolute mile. They take a metric mile.

I don't care, they take a like it's insane. It's it's truly, truly insane and i don't think people are seeing the the big picture of it all. If you're like yeah, like let's tax, the billionaires, because there there is an anti-billionaire movement and people are just pissed off that, there's like all these rich people and whatever some of them are legitimate, other ones aren't, and this is in no way standing up for billionaires. This is us standing up for our future selves and, if you think it stops here, do i care if they tax billionaires more, not really.

I have an issue with what it represents for, like i said our future selves. If you think this tax will stop here, and it's going to be like a one-time thing to help with whatever biden has going on like you got ta crack open a history book. At no point has our government ever said: okay, that tax worked the exact way. We want it, we have the money we're good now they don't take taxes away, it doesn't like if they have a new novel tax, it stays there and if anything, they increase it.


So, let's be a little bit more uh. I guess informed about the big picture of this tax. Do i care particularly about taking more money from billionaires? No, but i do care about what it represents for us years down the road and just so, you know a little bit more info taking together the new tax on billionaires and the 15 corporate minimum tax are designed to fulfill biden's desire for the wealthy and big Business to pay their fair share, they also fit as promised that no new taxes hit those earning less than 400 000 a year or 450 000 for couples um just so you have some metrics of what is or is or isn't going on there all right uh. This is interesting uh, you guys know me uh.

I i feel like a pitbull in this in the month of october, the more and more that we're learning about manipulation, insider training, abuse of power. It seems like this is unraveling and it's exciting and maybe i'm being a little bit uh. I guess grandiose to think that our movement is helping with it, but also, i think it's really. The only variable that's changed is that there's such a loud social media voice right now and all of a sudden we're really calling out all these government officials, elected officials, the fed, uh interesting, interesting, very, very interesting uh.

So a new update for you, fed bankers, face penalties for ethical breaches under senate proposal. The legislation would prevent fed officials from trading individual stocks but allow investments in diversified mutual funds, investment trends and u.s treasury securities. So we're talking about fed officials now this is actually a development on top of what we were already talking about with um the other guy from texas that fed chairman stepping down and powell with his own rules. This is now on top of it, and this is coming from senator brown.

The american people need to be able to trust that the federal reserve works for them and the officials aren't abusing their positions for personal gain. The senator said in a press release that the bill was a companion to legislation that would impose similar restrictions on members of congress who have faced criticism for their own stock training. That is crazy. Let me read that one more time or the key part that would impose similar restrictions on members of congress.

This is now getting out of the world of the fed and, like it's become a joke of like just trading on whatever pelosi does, but now hey. According to the senator and like what they're actually doing with this bill is they're looking at congress, i am so so excited to see what congress members vote against this because right away, they like you, got to just look into them right away like anyone who votes. No to this they're just putting a target on their back of like oh yeah. I've probably done something like sketchy and like right away as soon as i see everyone who votes no looking into every single one of them, because i bet they have some serious skeletons in their closet.


The federal reserve, of course declined to comment on the legislation. Some of what the senators are proposing for the fed lines up with changes that the central bank is already making the fed last week imposed personal investing restrictions on its senior officials in response to a stock trading controversy that prompted the retirement of two fed bank presidents. Uh and they stepped down. Obviously they didn't get in trouble.

It's just an ethics issue. Let's step down, we realize we abused it, but like they don't get in trouble, they keep the money, they definitely don't see jail or prison time, whoa whoa. Why would we do that um? So speaking of those two excuse me, kaplan and rosengreen retired after fed chairman jerome powell refrained from offering them public support, saying that his september press conference that no one is happy about the trading revelations. Imagine that imagine the people under you that still have extreme power you're like yeah, no one's happy about it, like what they're not happy that they got caught like come on like would a weak comment like why wouldn't powell come out and be like this is a Clear, horrendous abuse of power we're making rules to ensure this never happens again, there's a way to ensure the public that you have their back.

Instead, you say no one is happy. Inflation is transitory. Everything's hunky-dory, don't worry about it at all like come on. Dude, like you have, and on more of a personal note, i mean this is where my frustration has been coming.

I would say over the past, like three or four months, is so many people in serious positions of power they're, given opportunities to show that they have the public's back, which kind of makes sense? Because, please do not forget the clear axiom of being an elected official within the u.s or a selected official within the u.s. You work for us and time and time again it's never ever that they're standing up for the right person and, of course, we've talked about this, and i know i'm preaching to the choir here. It's like well, it seems like we're we're seeing horrific cases of cronyism once again, but it's just sad. It's not like one person we're seeing so many people just time and time again, if they're, given the opportunity to abuse their position, their power, their inside knowledge, they do it and then like they, don't even have like the common decency to like consume a nice lie For us to at least make us sleep better at night they're just straight up, they don't even care about that.


They're like nah, we screwed you no one's happy about it, catch a next meeting. It blows my mind, absolutely blows my mind all right. So with all that being said, let me just see if there's any updates from when i was speaking all right. We went over the wall street journal thing all right, good stuff, uh, bitcoin, taking a dip all-time high 67 000 double rejection at 63 and selling off right now, 59.

A couple people were asking me like: do you ever think it's going to go below 60 again? I said yes, i honestly did not think it'd, be this quick, but hey. There's your below 60 opportunity um, it could go lower, but this still changes does in no way change my opinion on bitcoin, if anything, the lower dips, the more i'm gon na buy the higher the opportunity of me buying um. With that being said, yeah bitcoin, taking a bit of a breather ethereum, also taking a breather, but not to such an extreme. You know: what's not, though sheep, actually it's, it feels as if some point we're going to see a new all-time high.

Probably in this morning stream, maybe in the afternoon stream, but she is showing some serious muscle right now, 58 70. The high is 59.90 um. It does feel like we're about to see a new all-time high in sheep. I'm in it.

I was gifted from voyager. I bought bitcoin, i bought a theory and i bought matic uh cardano now sub two, that's the first time. Cardone has gotten sub two in a bit. Still a long term hold uh matic 174.

Overall. This has been a nice gain on matic, hex 26 cents that one's hurting me right now. I think it should be a little bit closer to 40 cents, so i think it's just a patience play, but that's how i view all of my crypto to be literally all of my crypto, i'm not actively trading any of it any of it whatsoever. If i'm in crypto, it's going to be a pretty long term hold um on any of them, maybe maybe, if i somehow recover some of my losses on litecoin like if i go to break even maybe i'll, pull out of that one, but honestly, even given that Opportunity, i probably wouldn't uh, i probably would not all right before we get going.

Let me see if i could get some of these questions answered for you. We have about a minute and a half. Let me drop to the one minute on all of these. Matt, have you ever seen pre-market haul on a stock, genus yeah, you have it, i mean there's various types of hall.

It could be a news hall. I don't know if there's a volatility hall in pre-market, but there's like a whole host of types of halts. That can happen have a green day. Damn sheep shout out mary hope, you're having a good one.

Hey marty. Is there a chance that maybe citadel's doing a lot of manipulation they can short through the toronto stock exchange? That's a whole different exchange, that's not for u.s equities. At that point, you would be talking about um before when we were talking about like the depository receipts for amc to trade on the canadian exchange, it would be a canadian the equivalent of a canadian receipt. So not directly the same thing as amc uh, so i i don't think it might be worthwhile to look into but um.


That's not a theory that, like really really jumps out to me, amber shout out becoming an astronaut morning. Matt have a blessed one shout out jose the prague short interest of free float went down, but shares on loan went up, as did cost to borrow nothing's changed. In my opinion, responding to chat shout out wall street viking phun. Thanks for all you do, i will write that down and we'll do it right after i should have it up on the side.

It's currently four dollars and 35 cents. Let's just wait mark it's about to get going. Whoa, whoa, whoa brother. I dropped my little secret notebook here of all the big.

All the big notes to take us did run high tax on income. It hit the greedy top everyone else redistributed well to avoid tax and had the highest medium income era. No billionaire made honest money. They monopolize industry, uh keto's gains uh, there's a lot to unpack there, like i don't know if you could have like a full-fledged tax economy debate and whatever the limit of like a super chat thing is, but no no, no, no, there's many many historical events that Would actually show the opposite, but uh.

You seem like one of those people that are like i just know. I like. I took one economy class like trust me bro. I know what i'm talking about, but hey.

If you feel that way, i i hope you're right man. I just disagree: uh very interesting news on the back end, not getting attention google wall street, on parade to move bank deposits to fed and be allowed to short stocks, i'm back and not getting attention i'll check that out. Drake that looks interesting good morning. Matt and moon gang.

Let us change our family's financial future. Today, shout out gorilla, champ champ, i hope you're having a great one. All right, prague is at 380. tesla.

I need this, like i said, i'm looking for two grand two grand two grand in a minute. I'm obviously being facetious about it, but i still have my long position on tesla and i was chasing. I bought it on an all-time high. It was stupid.

I broke my rules and yesterday it cost me, but i still, i still believe in elon he's gon na he's gon na assure ensuring me that these attendees are captured and actually what i really need to do is so just so. Everyone knows my transfer from weeble to public was not accepted. It was i i messaged public about it and they're like oh yeah. It was denied for, like whatever reason, uh, so that is extremely frustrating according to public.

The issue was on weeble's side. That's what they said uh, i don't know how. I would confirm that or deny that. But of course like, is it that big of a surprise that publix like oh, no, it's their problem, um just so everyone knows like, i think other people haven't had it.


Maybe i just got like unlucky, or maybe i did something improperly - i don't know, but i just wanted to keep everyone up to date on that. What i'm kind of personally thinking about doing is moving most or all of my amc and gme shares to public and then just letting it sit there, because i still do actively obviously trade other stocks, if you missed the the stream yesterday afternoon for power hour, i'm Now, in prague and with amc and jimmy like, i just know, i'm not doing anything as what are we at october 27th. I can confidently say this. As of october 27th, me matt coors, the guy with too many duck shirts.

I just want to sit on those shares. I almost just want to put them. I just want to create like an amc and gme account, which is what i might use public for. Let all those shares sit there and they're just going to sit they're going to sit they're going to sit they're going to sit and i'm just going to wait and wait and wait and be as patient as i possibly can be.

So i'm still attempting to get either all of my shares - or maybe even more, maybe just buy some at like this low price of 36 on amc and ah i would have preferred the gme dip around 165, but hey not too far off, and i just kind Of want them to sit there like i'll use. My other accounts for my other things i feel like i'm really really close to just creating a specialty amc, gme account and let those shares sit there and well they're going to sit it's kind of interesting. I see a lot of people um when you're discussing amc and jamie if you're actively trading it. I do wish you the best of luck.

There is money to made in all the vault. Whenever you see volatility, there is opportunity to make money. If you want to play it, whatever up down covered calls calls puts selling, but, like i don't care, it's all up to you, it's your money. I don't tell anyone what to do with their money, whatever you're doing, i hope, you're profitable.

I hope you find a methodology that continues continually makes you money, but for me where i'm at in this i mean i've made some serious money on amc and gme calls and i've lost some serious money on amc and gme calls. So, for me like, where it's at it just seems not only mentally healthier, but also just easier for, like day-to-day life of like diving into all these other things of to just sit on a stack of shares for both of these companies put them in an account And you're just good to go um, so that's kind of where i'm at i don't know. Maybe i'm just saying something, and everyone says like what are you talking about? Matt we've been doing that already like. I just have an amc, gme account and it's it's just sitting there.

So maybe i'm just a couple months behind on all of you, but it does just seem easier to like a particular moon stock portfolio. I keep my stocks there and then that gives me like, in other accounts, really the opportunity to pay attention to what else is going on in the market. Oh good point i'll be ding ding, ding, ding, ding ding, the casino opened five minutes ago. Uh do a poll about billionaire taxes, i'm legit curious to see what the majority here thinks seems: a mixed bag in comments um.


I i would assume a lot of people. Don't care about taxing billionaires because, like that's, the social cultural movement is against billionaires to pay their fair share. That's not my point at all. My point at all my clear point is: i don't want it to happen, because it's gon na only be a little bit of time before that bill and that rule and that methodology is extended to far more people.

I don't care whatsoever if they tax billionaires more. My issue is what they're going to do with the middle class and the lower class years down the road when they already set this precedent. I don't know how to make myself more clear on that. I don't give a squat what they do with billionaires.

I'm not a billionaire i care about us. I care unless there's a billionaire watching, whatever i'm probably like um offending you, but for like, let's just say the average person listening right now, which is probably most of us. I i care about us in the future. Uh matt, you mentioned 52 importance on dwac.

I did oh shoot. Is that 62.? What's dwac doing right now, uh dwac yeah! I was looking to i'm. I have puts on dwac i'm long on puts on dwac and i'm looking to capture my profits at 52.. It's currently trading at 61.

um. That was a trade that i announced that, like i, was personally getting in to yesterday. So what do you suggest? We don't tax them. When did i say that i just said: let's not do this unrealized gains tax, which is just like an insane idea.

It's a it's a wildly insane idea: um if anyone's arguing that you don't think they'll eventually apply it to everyone that has some sort of market account some sort of brokerage account. If you don't think that they're going to do that to literally everyone with a stock account, a futures account an options, account and a crypto account, and i mean everyone given enough time. You just have to look at how these novelty taxes have been imposed. In the past they pitch as like.

Oh, this is a one-time thing. We just need some money for xyz and then they never get rid of it. It's the classic foot in a door argument, uh sheba about to run approaching all-time highs, so close. Prague also looking good wants to take out four uh shebe currently at 59.

She is about to hit an all-time high, all right so wait. We have so many things. Moving right now, hang on where's, tesla, tesla tesla. We have that up there prague's making its move.

Let's go to sheba for a second sheep about to do its thing. Man, we got a lot of movers. We got a lot of movers. Public allows for clearing from apex to lens shares, um, so apex and actually instant is publix clearing broker, but that doesn't mean like they do allow it.


But you can turn your lending off then trace subway cup, but yeah they public is not a big enough company to do their own clearing. That's a very common business model for newer brokerages uh. They hire clearing brokerage to be their clearing broker. So, for example, that's exactly what all of them do at the start, when you're getting going uh, it just takes more money.

It takes more legal hurdles to be your own clearing broker, so all the new brokerages at first that's how robinhood did it now? They have robin hood clearing, they like they serve as their own clearing broker, so that that's a common business model and public is very open about that that that's one of their sources of revenue, because they don't do payment for order flow. Their sources of revenue come from share lending and from optional tipping, but if you don't want your shares lent out, you just opt out of it. True demon was mentioning that prague might do a dilution mid-november. Your thoughts, please yeah.

So if you look at the 8k filing they're trying they're almost looking at getting rid of uh, potentially getting rid of, i guess the time frame that would be required for those those at first, when you read what's going on with the convertible bonds uh a lot Of people like hang on, they can't do it like, because that was part of it. There was a certain time frame that they were going to be held to that they couldn't be messing around or do any dilution. But if you scroll down in the filing, you can see that they're actually potentially voting to get rid rid of that time frame. So it could happen theoretically earlier, but we have to see and wait how that goes.

So, what's the difference between public and weibo public doesn't do payment for order flow? Weeble does public sends your orders to lit exchanges in market centers, while we will send your orders to market makers uh very, very different if we have to pay tax on unrealized gains, we'll be able to write off hypothetical losses, i mean that's a fair question, but I highly doubt they'll allow people to actually do that uh good morning, you beautiful ape what do you think about m-e-t-x how's that chart looking hang on. Let me write that down p-h-u-n someone else about that and m-e-t-x. Where else do we at? I think we are all caught up uh. I mentioned the 52 importance on dwac, yes, uh dwac, just very quickly.

That's the gap fill from october 21st uh and i'm looking to play this to the downside, profit off of it by a fall 252 and that's the trade. That's where i'm looking to capture my gains in it's the high from october 21st, uh matt is amc crashing. No, i think, there's a lot of fear-mongering with that type of stuff of like it. It goes up.


It comes down and they're like it's crashing. It's crashing um. Whenever anyone calls like a one dollar movement on a 37 stock crashing. It just kind of tells me they've, never really experienced a crash whatsoever.

Uh you're, gon na know, like it's gon na, go down multiple tens of percent and usually rapidly uh for a stock. That is up like seriously. This is why i don't get about the fear-mongering, and i don't know if this is someone who's just new and they don't know what's going on or if it's like a planted chill or just like an asshole, but whatever it is. How can amc be crashing when it's positive on the day like? How does that make sense, and, like i said, maybe it's a new person and you're just asking a legitimate question like okay, like i get it at some point, we're all new and we all have things to learn.

But people have also pointed out that there are clearly people trying to infiltrate the group and spread fear, and that's tough on my end because, like how do i know who's? What how do i know if it's a new ape asking a legitimate question and concern? That's on their mind, or is it the other side of just someone trying to be like a shill? Basically, uh did. Did we all wave goodbye to hood as it passed us on its decline? Bye where's hood at right now, hood man getting crushed hood is down 11.5 right now, that is getting crushed, crush crushed uh tesla 1035.. I would love that above 1050 and then i'm really watching 1125. uh, the federal income tax started at the top.

One percent. Only thing too, if we were serious about getting billionaires, they'd replace the income tax with fed sales tax, you can loophole income, but everyone spends wonder if vlad is sweating today puts on hood. He probably is, i mean he not only is the stock diving, but they also just burned 1.3 billion dollars in the last quarter. Uh, can you check your twitter dm uh yeah? I mean i will check that out in uh, like in between shows today i'll try to go through and get as many uh red as i can uh.

Someone is asking for the prague short interest. Let me check that out very quickly for you, prague, prague, prague, prague, frogger progress, uh the short interest: uh 52. The cost to borrow 242 percent they've, already borrowed a net of 872 000 against it. Today, utilization 99.9 shares on loan 34.86 million uh prog, currently trading.

At 391 dwac - i don't know if other people had the same mindset as me, but this is printing right now and hopefully, if tesla comes back, that will also be printing. Tesla is fighting its way back and then do we have shebe up here. Sheba is also whoa we're about to see sheeb's all-time high. I think let me just double check yeah we're about to see a new sheep all-time high.

There we go there. We go! Congratulations! If you're in sheep, hey matt any thoughts on citadel naked, shorting and manipulation through the toronto stock exchange sent a similar earlier about it yeah. I talked about that. Remember, that's a different nations exchange, so it wouldn't be the exact same like the way you think of amc stock.


It would actually be like a replica of it or receipts that are going to be tracked with it, but the buying and selling on a different nations exchange would not have that same impact on our nation's exchange. So um, it's probably worthwhile to look into it. A bit, but i don't think it's the strongest theory - are you invested in nft check out animal society. They have space apes and space ducks.

Oh i'll have to check that out. Yeah i do have a handful of nfts um. I think i'm down money on them. I don't know i'm not like some crazy nft expert whatsoever.

I have them. I have like 10 and i'm just gon na sit on them. I kind of treat my nfts the way i treat my general crypto investments. I'm just gon na sit and see what happens.

Have you tried asking the shills if they're shills, i think they legally have to tell you or maybe that's cops now wait now, i'm thinking about pirates, uh man, all right, so uh m also asking about m-e-t-x this one. What uh? I i from a technical perspective! I'd be a little bit concerned because, like you have two gaps under it and it's like a bit of a weird chart, it seems like it's always just selling off, but the recent spike has to be some sort of development. So i would want to look into. What's going on, if there's no fundamental development, i would definitely avoid it.

It seems like then it could be a penny stock pump and dump, but maybe there's some fundamental driver. That's like oh! No! No! This is exactly why we went basically up 100 in four days. Um, so this one i'm not in love with the technicals, especially if you start zooming out, but i mean it looks like it was just trying to gap-fill like there are gaps to be filled. That's an opportunity, but i would just drive into the news related to this one: definitely not my cup of tea, sheep, ding, ding, ding, shiba, inu, new, all-time high! Congratulations to all everyone uh! So, if you're in that seriously, congratulations, i'm stoked when anyone's making money morning, matt happy birthday.

What's your opinion on why we need amc to squeeze house chairman? What's your opinion on what we need for amc to squeeze? Oh, what we need like just a crazy amount of demand um, we need enough demand to overwhelm the supply that we get probably a big technical break out of 50 or 53, and then i think that could carry us up to the mid 60s and from there That could carry us to the mid 70s. There has to be enough people, whether institutions, retail, i don't care where the buying pressure where the buying aggression comes from, but enough people have to be enticed at whatever the current price is for them to buy more in overwhelm supply. Can you plea it would also be nice if market makers stopped doing all these short exempt trades? That would also be it would probably make the job a little bit easier. Adam shout out.


I appreciate that uh. Are you long on prague squeeze potential? Yes, i am in prague, yes, it does have squeeze potential, but i am in not in prague for the squeeze. I actually just like, where it's fundamentally headed um, it seems like they are, making a easier and more reasonable delivery system like an oral delivery system. Uh for a humera um, i think i'm saying that right, but that's a very popular drug.

It's like a multi-billion dollar a year, drug um and it's injected. So right now with the patent that prague just got and it seems like what they're trying to do. I i actually kind of like it as like. Just a company investment if it squeezes that's cool i'll, take some profits, let it come down and then i'll reinvest, but i actually like prague of where it's headed um.

There is an argument for it to be an ftd short squeeze high short interest. High cost to borrow is on the threshold list and obviously i'd be stoked. If that happens, because then they could use that opportunity to raise more money and expand the business. I think they're good people um, but for me yes, i do recognize that could happen, but i actually like like what i'm finding out about the company as like a true investment uh.

Sorry brother still hung up on the gap-filled play from yesterday. If the stock is trading at 65 and the gap feels down to 50, wouldn't buying a put around 65 being more profitable than one buying around 50., no, no, no um! If you get things that are out of the money, they're more risky, but if you're right and if it happens rapidly, you make more money. The profit potential associated with out of the money calls out of the money puts is higher if you're right but you're, taking on more risk. Remember whenever you take out more risk, it's most likely because you have a higher potential reward so going out of the money.

As you go out of the money from in the money to out of the money, that's the increase in risk and, as you go from farther out in expiration dates to closer expiration dates, that's higher risk, so your highest risk plays are the closest expiration, the farthest Out of the money and they're the highest risk, because you're statistically the least likely to be correct, but if you are correct and you get a huge movement rapidly in your direction, your rewards will be substantial, prague above four. Can you take a look at sos crypto mining, yes um, so just so you know: we've taken like we've looked at that the only crypto mining company i'm actually interested in is any, and my reasoning for that is a and y is another potential squeeze play beyond That i really don't like crypto miners - i don't understand it. I'd rather just get crypto directly crypto miners, you're, basically betting on bitcoin and ethereum. But on top of that you have to consider inter-business competition between riot mara sos so for all those.


Why take on that extra risk of? Maybe you? You were right on crypto, but maybe you didn't pick a strong company within the sector. So if you are basically betting on crypto, why not get a crypto, etf or directly get into crypto which directly getting into crypto? I would vehemently argue is the best option um. I i just like all of those riot mara hutt, sos all those miners. They don't really make sense to me you're, just taking on unnecessary risk uh.

Why did burke a run up 51 after hours yesterday and fall back 30 minutes later clear manipulation? Why? Why is that manipulation? I i think it's like uh like i would have to know but like why just be like inherently because it moves like that much. You think it's manipulation or i don't. I don't know the news on it truly. Like i don't know, what's going on with brook a, i do not have the funds to buy berkey, so i never have.

Why did berkey all right? We did that hood. Remove cell button to save itself, where is hood at? I should probably add it to the list today. Just so, we can see how much it's falling down. Now: 12.3 percent uh, it's getting smacked uh prague looks like it's kind of making some moves uh dwac 57.

I'm looking for 52., someone if i'm not paying attention to dwac and it continues to fall. If someone could, let me know that would be nice, especially if we go sub like 54 53, because i need to lock in some attendees at that point. Tesla. Looking good sheep just in the all-time high we're at 62.

shebe is currently up 29, absolutely ripping um right now, amc's holding on 36. hang on hang on. Hang on hang on, like i said, i need to transfer and i kind of like the price on amc right about now. Uh, wait and wait and wait in load and load and loading.

Where does it tell you? Okay want to miss amc, i'm not sure about the legal parts of this, so let me put it this way. I may or may not have bought more amc yeah, let's, let's leave it at that. Those those are the two options i may have. I may not have, i also may potentially be in the middle of just attempting to get all of my shares through various brokerages onto one particular brokerage as that relates to amc and jimi.

Maybe maybe not i don't know, but i did have a conversation about that earlier of how i would like to consolidate all my amc and gme shares on a particular brokerage, because it's just way easier for them to sit there and it is at a nice level Of support to kind of do this shared transfer so we'll put that out there, maybe maybe not i don't know um. I still see a lot of people talking about direct registration. I don't see how direct registration helps us. I don't um, i see how it cuts down on ftds, but if you look at amc and gme, the ftds are currently low right now.


So if you're doing direct registration to try to shine a light on naked shorting you're not going to be shining a light on much if you're talking about stocks and not the options, market and direct registration does not seem to help much with the options market. Direct registration you're, not loaning, out your shares, that's nice! It does seem to cut down on ftds. That's very nice, but if you look at the most recent report on amc and gme, the shares are low. The ftd shares are low and we've kind of talked about this.

I think the naked shorting is actually being pulled off in the options market, not in the stock market. So i don't know registration like i don't think you could directly register options plays. I don't think you could do that. I think you have to have stocks so, like i said, i do see the benefits of direct registration, but also, please understand it, makes you very slow.

It makes you very slow if you want to sell you're, not going to get the price that the market's currently at, because you have to call your transfer agent, they like schedule the trade for you uh it takes time. So if you want to be very mobile with your shares, well, you got to be like be careful. Um direct registration will not be for you if you care about the mobility of buying in trade or buying and selling uh, when the time is appropriate, prague destroying it 440. At this point, i'm watching five dollars, i'm watching the five dollars she moving.

Speaking of gme 180, just not moving much gm hasn't even traded. 200 000 shares like jimmy. It just needs more interest and needs more volume. It needs more volatility.

I want to see it get the same enthusiasm that sheeb currently has look at that look at that.

19 thoughts on “Ep 120 market volatility increases earnings season continues dumb money w/ matt”
  1. 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 youโ€™re good youโ€™re good! God bless you sir โค๏ธ

  2. Avataaar/Circle Created with python_avatars GoldmanSachel says:

    Matt go back to my SHIB comments 6 months ago when I tried to get your attention on this lol

  3. Avataaar/Circle Created with python_avatars Brock Breitenberg says:

    Mr Brian C Nelson is the best recommending him to all beginners who wants to recover losses like i did

  4. Avataaar/Circle Created with python_avatars Tobias Andersson says:

    whats the name of the song? ๐Ÿ˜€

  5. Avataaar/Circle Created with python_avatars djhdesigner says:

    Done, gone, out.. it was a fun ride.. but I could've easily made rather than lost over these many months investing more wisely. It was probably worth it for entertainments sake but hanging my gloves up now for amc and most other of this kind I think

  6. Avataaar/Circle Created with python_avatars Remon Shields says:

    Yโ€™all still waiting for that squeeze in here?!? Lol howโ€™s that working out?? Asking for a friend

  7. Avataaar/Circle Created with python_avatars George Williams says:

    Nice video!! Very engaging from the beginning to the END., I'm new to crypto trade and I have been making huge losses but recently see a lot of people earning from it. Can someone please tell me what I'm doing wrong

  8. Avataaar/Circle Created with python_avatars MC says:

    at least his audience is getting smarter. the cringe level of questions from the past months are gone lol

  9. Avataaar/Circle Created with python_avatars joe Potato says:

    ๐Ÿ’Ž๐Ÿ’Ž๐Ÿ’Ž

  10. Avataaar/Circle Created with python_avatars Texas Whiskey says:

    Because they couldn't verify the shares weren't synthetics. That's why Public refused them… it's happening to lots of people.

  11. Avataaar/Circle Created with python_avatars Opzzy says:

    Matt because u said shiba may be a pump and dump l lost a lot of profits ๐Ÿ™

  12. Avataaar/Circle Created with python_avatars Samuel says:

    Shib!

  13. Avataaar/Circle Created with python_avatars Kristi Shaw says:

    Iโ€™m in Shib

  14. Avataaar/Circle Created with python_avatars Vanity Lujan says:

    Shiba market cap is equal to the 24 hr volume. 25 billion whats that mean?

  15. Avataaar/Circle Created with python_avatars Kyle Knight says:

    I agree these taxes hurt the economy and all of us! Thank you for speaking truth on this subject.

  16. Avataaar/Circle Created with python_avatars DiscreetBtm xxx says:

    Whenโ€™s AMC announcing earnings?

  17. Avataaar/Circle Created with python_avatars Juan Salazar says:

    To the devs, I was thanking Matt for what he does so well. Now I will be start my own channel soon for crypto. Don't want any promo. Sorry if you thought that's what I was doing.

  18. Avataaar/Circle Created with python_avatars John Golden says:

    If we would just focus on Amc instead of the other stocks and crypto and pump all the money into amc we would of squeeze by now ! The other stocks and crypto is whatโ€™s holding us back that they can make money off of . FULL ATTENTION TO AMC APES !

  19. Avataaar/Circle Created with python_avatars Ialreadyhaveaname2 says:

    please tell me you play guild wars 2! nice mad king image

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