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Dumb Money Ep. 82: AMC, GameStop & Crypto
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Howdy, hey, hey, hi, hello, hola me amigos, aloha, friends, we're getting ready. We are getting ready for the afternoon session. Amc currently trading at 39.56 gme trading at 191, the spy at 438 pushing all day and now as we're getting a little bit closer to these fomc meetings. Like the meeting minutes release, i think people are waiting around they're trying to figure out what is or isn't going on.

I started this a little bit early because it should be coming out at two and how much time i just don't want to miss the actual meeting drop all right. We have a couple seconds, let's see, what's about to be said, everyone hold tight. It's a delicate moment: gdp forecasts are coming down we're in a little bit of a slow patch and i think the fed needs to not overdo it with their with their tapering and not overdo it with their hawkishness. And so we will wait and see as we watch and hear from steve leesman in just a few seconds time kelly on on what the fed will do.

Good way to break the linkage between rates and taper would be to move the dots out. But we'll see, if that's what they do, steve leesman has the decision, steve unchanged in the statement here, but the fed said that if economic progress continues, reducing asset purchases may soon be warranted. I'll. Give you the exact language on that in just a second uh.

The sector is affected by the pandemic. The federal reserve said have improved in recent months, but the rise of covet cases have slowed the recovery and, whoever, i think was david kelly said it was right. They did lower the forecast for 2021 gdp back to that. In the second decision was unanimous now the median forecast now calls for a rate hike in 2022.

Nine rate hikes were called for uh in 2022, three of which actually call for two rate hikes the funds rate seen hitting 1.8 percent in 2024. So quite a bit of work to do unemployment rate was is forecast. The median is slightly higher uh 4.8 instead of 4.5 and a few other things somebody's talking about inflation there they did pull up the inflation forecast, or at least the median forecast of all 18 members to 4.2 from 3.4. It remains above 2, interestingly, through 2024.

This is our first look at 2024. and gdp was indeed pulled down i'll, give you that number there 5.9 from 7, so they took 1.1 off of the gdp forecast for this year and next year. Actually they put a little bit back about a half a point. Three point: eight percent, so they're still seeing above trend growth through 2023.

So i don't know what you want to call this. The um pre-warning of a taper is the way you'd want to put it they kind of put it in there. The exact language i will give you here, let me just uh offer you that what they exactly said there on tapering and it was if progress continues broadly, as expected, the committee judges that a moderation in the pace of asset purchases may soon be warranted. So maybe it's time to think about putting on your seat belt, eventually for when the fed eventually announces sometime in the future, that it will taper kelly steve stay right there as we bring our panel back bob assani rick santelli will also weigh in in just a Moment, quick, look at the markets, show them relatively unchanged.

I would say liz from a few moments ago, but, as we know, uh the first move is often the wrong one or maybe it's right, 24 hours later, and things often change like 28 times in between with that said, you know liz. I i totally take your point about how they want to describe. The tape you know, is the taper which it could sound like could happen in six weeks. Is that a tightening or not well? The whole point is everything is getting tighter, so they're they're talking about the taper they're moving the median first rate hike into 2022..

You know, that's all pretty consistent with uh. You know. I don't want to use the word hawkish because it's priced in, but with this idea that you know the evolution is happening, the the pandemic framework is going away. They're they're getting us back to something more normal yeah.

The evolution is happening, but it's happening very, very slowly and i think steve said this earlier today on a different program that, even if they taper at the speed that we're expecting they're still buying a lot of bonds through the first half of 2022. So it's not as if, suddenly, the liquidity is going to leave the system or leave the picture, there's still a lot of liquidity that they're putting in something out of the ordinary. As for the market action, i think before we got the announcement, it was interesting to see that the 10-year yield had fallen and equities were up strongly so at broad brush. You could assume that the market was expecting a dovish statement, but if you pulled back the cover a little bit and looked at what sectors were actually driving, it was cyclicals right.

It was materials, it was energy, it was financials industrials. So what that would suggest is the market is actually ready for a little bit of a liftoff in the 10-year and a rise in rates, and i think that is what we're going to see in a gradual way. Here we go. Let me turn to you and and if i uh steve correct me if i'm wrong here, but did you say that the that the median forecast for inflation now uh in the short term is above four percent? No, no uh! It's four point: two percent: for this year they raised it uh the exact numbers just to be 100, accurate, uh, it's 4.2 for uh, 20, 20 21 and it's above 2, which is their target.

That's what i found interesting through 2023.. So that was my point there that i i misunderstood. Obviously i thought that they were. They were forecasting four percent inflation, which would have been a wild number uh, based on what it's been running.

Rick santelli you're ripping ripping ripping the main driver of late has been flattening, yield curves and i think we have some charts ready. If you look at 30s minus fives, that's at a 13 month flat, that's the flattest since august of 2012.! Enough of this guy, we don't need to listen to that uh, interesting uh, so the federal reserve, the fomc meeting, came out, and just so you know this is not it. This is not the end of volatility like you're, seeing some crazy volatility. That's why i brought up the volume right here, we're seeing some, i guess, a huge volume spike on the day people pouring back into the market at first i mean look at this one minute, interesting action.

It didn't know what to do. It came out. People sold and then they bought back up and then almost four minutes in they're like yeah. No, no, i think we do like this and then they continue to they're buying um interesting, interesting reaction to what's going on.

Like you said it sounds like inflation right now. Is it's cooking a little bit over four percent currently uh, but they're, looking to kind of bring that down to two and really overall, it's uh? What was it um? That right here says tapering of bond buying coming soon, and then whoever was just talking on cnbc was talking about it, maybe occurring within like six weeks, and this was expected. It really really was like there's nothing out of the ordinary that came out of this. There was no like bombshell announcement.

We knew that they weren't going to mess with interest rates good chance of them, not even touching interest rates until 2023. So this is about the bonds, and that was exactly what i was explaining this morning of it's all. It's all in the bonds. There's always i i don't know why we were talking about arrested development last night.

I just want to say, there's always money in the banana stand. There's always money in the government bond stand folks. There always always is and right here the question is just like: okay, what is their ideology on how they want to taper right now, it's about 120 billion dollars a month. Are they gon na go to a hundred? Are they gon na go all the way down to like 60.? It's all about the methodology of how they want to do this tapering um, so we're getting some crazy reactions uh early this morning or um hand, i'm gon na go off on a tangent on that.

So let's hold that for a hot sec um just so you know we're not done in about what 20 minutes the jerome powell, the fed chair will be speaking. He's going to come out he's going to have some words, i'm assuming he's going to give us a little bit more insight onto how they want to taper. More information could be coming when fed chairman jerome powell speaks during his post-meeting news. Conference.

2. 30. P.M. Eastern.

This volatility - it's gon na, continue for probably an additional hour or something like that. This reaction, the spike in volatility, the spike in movement - not done yet definitely not done. We have some movement ahead of us just so everyone knows. Historically, if you want to use the past how many ever fed talks and stuff they end up pumping the market that that's been the pattern uh today might be the first day they decide to not pump the market, but i don't believe that uh.

I think that they are on their way to wait what um we're seeing sorry, my my own trading thing over here going crazy in the futures market. I'm getting all these messages of. I guess it's just all. These alerts are coming up about what is going on with inflation and all this interesting um, but right here we still have more volatility to come.

So let's continue to pay attention to this, but obviously individual equities are reacting well. Very obviously i mean amc bouncing off for 39.50 pushing 40.. You have gme bouncing off of 190, not too high we're looking for gme to break above 193. uh.

I had tilray up earlier. I was talking about it with people in the discord uh. It's just interesting. Um, a lot of us were opining on.

Why is marijuana cannabis? Whatever you want to call it devil's lettuce, jazz cabbage? Why is the sector trending down when we all just know that there's like the big social cultural push for this to be federally legal and to me being a very technical trader? I don't know like the technicals of it. Don't make sense if you're talking about tilray one of the biggest cannabis companies, if you're talking about the sector mj as like the etf that tracks the sector once mj as a mary, jane, um they're, not looking strong, but to me. I still just think it's one of the best long-term plays. We have in front of us because i strongly believe one of these days.

It will be federally legalized. I don't know if it'll be tomorrow or a year a decade. I don't know what the timing is, but upon feed federal legalization i do. I just don't see how this sector doesn't absolutely explode so with it and with it.

The reason we're really talking about it today is because early this morning we saw that amazon was basically using some of their clout and their legal prowess and their financial resources to start lobbying for legalization and hey. If, when amazon gets behind something, they definitely get behind. Something so i'm curious to see how this will will all play out for the future of cannabis uh. We also had some interesting discussions about sends diabetic treatment, monitoring, um potential here that that's the best way i could summon up on sends s-e-n-s uh lots and lots of potential and you're just kind of dealing in the world of fda and approvals, and some other things Going on in the background but worthwhile worthwhile to pay attention to for sure both tilray and sense, and i guess for the marijuana industry, if you want to watch mj the etf, that's tracking it all! What do we have going on here? All right? Where are we at um so we're waiting for that? We have about 20 minutes until we have the jerome pal discussion.

So in the meantime, let's talk a little bit about crypto bitcoin early this morning i marked this out. I said: hey dipby, around 42 000. We're now trading at 44, 000. uh.

We we we're just seeing an overall push in crypto ethereum 2900 now 3100 we have hex breaking out going from 42 cents, almost 44 cents and what's interesting. This was not on the the screen this morning, doge picking up from 21 cents to 22.5, and we have an additional development from mr adam aaron about doge, so fascinating dogecoin pull was by far my highest ever red tweet. In 24 hours, 4.2 million views my most ever retweets, most every replies. 140.

000 votes. Seventy seven percent; yes, twenty three percent! No, it's clear that you think amc should accept dogecoin. Now we need to figure out how to do that. Stay tuned.

Very, very interesting! So adam aaron, i mean i don't know like the timing of it was interesting, but doge kind of on that news - and i know elon - was involved in stuff but we're seeing not only a pickup in crypto which is probably helping it. But specifically, i picked up in doj, which is it's awesome. I think that's very, very cool. It gets me excited just because i personally see a lot of overlap and similarities between the dogecoin community and the amc gme eight nation community, a lot of people fighting against the status quo, trying to better their own financial health willing to fight against the system.

Uh. There's a lot of psychological overlap, and so i mean, if you see some crazy partnership between amc, jimmy and doge. Like the trifecta, i mean wall street like our current entire economic system, better just watch out. If these three end up pairing up - and it does seem like amc - i mean it's kind of interesting, because adam aaron, he seems to be understanding the i guess, like the entire social landscape of this very, very well like very, very well uh.

He he went out of his way to make to like extend the olive branch and reach out to gamestop he's now talking about doge, uh, crazy, stuff, crazy, crazy stuff. I think i tweeted about this months ago, it's somewhere in my twitter history, about amc, accepting doge and what was weird is initially the response to it was not good people were like. Why would we do that and it's kind of funny, because now people absolutely love it um amc picking up going above 40 gme, 191 um, it's it's something: matt coors, twitter doge! I don't know if i'll ever be able to find this, but i tweeted about it at some point and at first it was not received well, and it's kind of funny that you fast forward a couple months - and this is now legitimately a reality of some of The things that could be going on all right, amc flex in its muscles gme flexing its muscles. Russell 2000 flexing it.

I mean we're looking good right now we are looking a okay, but i'm getting an annoying amount of alerts from the futures account because i just exit out of this we're just waiting right now about 15, more minutes to see what is going on all right. What do we have going on? What do we have going on the spy continuing to push a very, very much like that? We're just waiting, wait and wait and wait and wait and wait and doge waking up market waking back up. I like it so right here. We kind of have some an overall interesting development, so the fed came in in kind of a predictable dovish pattern, but i guess maybe people weren't that confident in it um.

What are we uh? What is this so? The fed coming in i'm trying to see if there's any breaking news about this fomc stuff, not really uh everyone's just predicting what the fed chair, jerome powell is saying, um, but we're gon na have to wait. No no point in guessing really because we're going to find out in about 15 minutes and we could listen to into a little bit of it. Usually all the good stuff's right at the start, so we'll be waiting on that crypto waking up stocks waking up the fed coming in. I guess a little bit softer than people expected.

I mean i'm fully expecting jerome powell to continue to push that narrative when he starts speaking today. Evergrand looked like they are, they are in the process of paying off their debt, so not as extreme as people had initially predicted, and it does seem like we're, making at least a little bit of headway involved in the like u.s right versus left type of a Thing of what's going on with the debt ceiling, so all those pressures that the market was feeling on monday and tuesday and let's say over the weekend so the weekend monday, tuesday um interesting. It's interesting that all of them are kind of calming down a bit and it makes sense they're calming down and look at them everything's going green. What else we have going on lfg shout out senor about 400 shares of amc at 40 dollars? Am i screwed um? I don't know i'm not a fortune, teller uh, i think you're buying on weakness and it's always stronger.

It's in my opinion, better to buy on weakness, um, but i mean i don't know what you mean by like screwed or not like it's. I, like amc uh, but i'm also not uh like clairvoyant. I rnt 100 utilization still increasing the shorting. Remember as more and more people are willing to lend out the shares, you can still have a hundred percent, but the short interest can go up down.

Three thousand five hundred on amc said life wish. I bought two thousand shares at five, but who knew i met once you get a chance. Could you check out cei? Yes, i will write that down. I will happily write that down.

I made 15k in two days with options trading. Thank you for all your knowledge. I've learned so so much from you and your input shut out east empire. That's amazing! That's incredible seriously! Congratulations! I staked 12 million sheba coins on cdc two percent returns for three months.

Can you explain what i did is that a good idea, so basically you're letting them use yours to stake and provide um updating the ledger security to the overall system um? It is you're, not 12 million stream for a two percent return for three months. So it sounds like you're. You won't be able to touch it for three months, because they're kind of using yours for the blockchain, but because you're allowing them to use your position. You're gon na get a two percent.

Kickback um staking think of it as like interest. Like when people do interest at banks and the banks using your money, like it's kind of the same thing, not exactly the perfect scenario but uh kind of the same thing, you've been making sweet, sweet love to my ears for six months. Thank you. By the way we are pregnant, so congrats shout out the devil.

You know remember. I said about tesla yesterday i said it three times it recovered sub 37. It ran she's running folks, shout out jeremy. I don't want to price prediction, but i have over a thousand shares.

How much money do you think i'll make? Hopefully a lot a lot a lot. I just got an email from the nyt saying the fed signal. They would start lowing asset purchases and raise rates in 2022. um.

So yeah that's what we were just talking about with the fomc and we're going to get more insight to that in 10 minutes when jerome powell starts speaking in a live conference, my gut is screaming that something special is coming soon with atr is total speculation, but My gut hasn't made me a ton, not advice shout out wall street viking uh we're just chilling at this breakout level. Sklz thoughts, all right, we'll have to hop into that one in a bit i'll write it down thoughts on rwk or wlk s, k, l, z, c e. I all right spy, still looking strong holding holding holding holding holding holding atr all right. So, let's check out this one cei, looking a bit weak right now, cei i mean it kind of looks like when you throw a ball up into the air and it's arcing.

That's exactly what this looks like. I would want to see how it reacts to a dollar 40, but i wouldn't be buying it at this level myself. I think there's too great of a risk of additional downside. We definitely don't need this.

Why are these lines here all right cei? What was the other one rwlk rwlk uh, weird inside day um? I don't like this. A gap down went red inside day, there's no clear direction on it, but it does look like it's selling off. I would be worried about a gap bill down to 134 sklz gaming company, looking strong in the short term, not necessarily long term, if you zoom out, but in the short term nice double bottom off of 10 20 uh pushing to 12 to 13. I don't know if this thing gets going, this one might get going up to about 1270-ish.

Maybe i do like it: data processing um. Fundamentally, i like it as a company like i like the sector, and it's in i like what it's doing, but the chart does leave a little bit to be desired, but who knows maybe you're just getting it in on like an awesome discount right now we're around Wednesday yeah, i feel, like the market, just didn't, get the the memo on turn around tuesday. Maybe it was just sleeping in and it's like, oh we got ta. Do that so now we're getting like a weird turnaround, tuesday, delayed by a day type of a deal.

All right, i think, we're good on that. We are good there. We are good here the federal reserve votes to leave interest rates unchanged and says that the tapering of bond buying could be coming soon. Also, dot plot shows rate hike in 2022, so the prediction is for right rate hike, but i would assume it's going to be in the second half of 2022 if it comes in 2022, but we're just kind of wait and wait and wait, wait and wait and Wait and all right so amc strong at 40 iwm and we're just way in we're waiting.

I guess for various things, but um we're seeing some bullishness in the markets. I like it big fan. Big fan. Did i miss the amc or tex info? No, you didn't.

I could quickly go over that right now, just so you have it amc, they borrowed 3.27, but it's a net return of half a million today short interest 20 for gme uh net borrow of 50 000 short interest 13.79 and for ater. Just because i know, there's more people watching it today: net return of 362 000 after borrowing, 1.68 million short interest - 54 uh nope. We don't need this one. We don't need the white house, one watch jerome pal.

This is what we want all right. We have a little bit here to go on this. One uh fed, says bond buying taper may be soon be warranted. Market shows sign of strength ahead of fed's statement, fed, examines a cloudier economic outlook.

Hey feels like a good day in the market, always a always a good day to be an ape folks mt pockets. How do you feel tesla and where will it go tesla's having a good day um it's at 7, 50. uh. If 750 is a nice psychological level for it, i would be watching.

We know it gets kind of caught up at 760 760.. After that, if it breaks above 760 i'd say the next stop is just a little bit over 780.. Hey matt, tell michael at ttg. His ad is better.

Now will do you know. I hear a lot of people like kind of bagging on him for that and i've actually, for whatever reason, i've never seen one of those ads. So i feel like i can't make fun of the group with all of you, but um a lot of people. Uh are making the ao, or something like that.

I guess is like the common joke. How do i feel about cei uh? We just did a breakdown of it. It's looking weak right now in the short term, at least in my opinion, um. It looks like it's.

It's running out of steam all right. What else do we have going on? What are some of the main questions? We have cooking right now? Oh, oh, i wanted to ask all of you um, while we're waiting for the fed to start talking in a couple minutes. Did i finally fix some of these youtube issues like did you guys get notifications for this particular stream um? I don't know if you get the notification when i create it, which i did at like 11 30 this morning or if you got a notification when i actually went live, but if you're subscribed and have your notifications turned on, did it work, i'm still just trying To figure out some of the problems with with youtube there um but yeah. Let me know uh.

Why is tmc down tmc? I i just. I personally never thought it looked good. I don't know who was ever pushing it, but i'm not a fan of tmz. Okay notified uh, some people saying they did other people saying they didn't crap.

Well, i think more people are saying that they got the notification ah, but still kind of a mixed bag, shoot why? Why is it a mixed bag? What's going on um? Well, mixed gar, mixed bag or not mixed bag doesn't really matter. Amc is looking good, pushing 40 50 from here uh. Correct me. If i'm wrong, but mr bully, i believe it was 41.50, is the next level uh.

These net returns on amc have been associated with red days. When you look back two days, i guess they're just covering all day into weakness. Uh that amount of covering will hang on it depends on the size of covering when you have covering that should be associated with green days most of the times when we see a big net return, it is actually associated with a green days two days before and That makes sense because to cover you have to buy back shares guy. The fed might mention our texas roadhouse deal shout out riley matt your thoughts on.

Why are they not charging more to borrow amc shares? The company is letting shirley know we exist and how the hedgies are digging in a hole. I would think that they would up the fee um the cost, to borrow fee that you're talking about right here, cost to borrow. First of all, this is already abnormally high. 2.2 percent is high to borrow stock um, but it's it's not like an opinionated thing like it's just a model, it's supply and demand how many people are trying to borrow and how many people are willing to lend theirs out.

It's just a metric between those two. It has nothing to do with uh like the riskiness of the situation, or anything like that. It's just right here. This is the equilibrium, the way the stock price trades at an equilibrium.

The cost to borrow is that it's like they're pricing. It right where people are still willing to engage with it. It's going to be it's always supply and demand. What's the supply of shares that could go out on loan and what's the demand for it, how many people are trying to actually borrow those and uh? Take those out on loan uh! That's how it's produced like that! That's how we get these numbers! It's it's the same thing as a stock price.

It's all supply and demand. Um. I've been only getting your twitch notifications, no youtube notifications for a while, now very weird, tried, unsubscribing and subscribing again nada man, that's frustrating! I guess i i just need to continue to talk with him about i. I don't know why.

Um, that's so frustrating, but just so you know one of the ways that i'm i am trying to battle it is, it seems like a lot of the issue is more so with like the amount of uploads in a day, which is exactly why um the daily Updates and some of these other ones like for this morning, some of the things i want to just check out coors light uh completely free. This is not like a paid member thing if you're watching right now, all you have to do is search search. Coors lite find the picture of me as a duck emoji, and you can see where all the videos like so, for example, this one right here um. This is like the technical update from yesterday.

Like my normal, like hey, this is the dumb money update blah blah blah all right. Let's hop right into it that type of a deal um, it's going to go on this channel for a lit a bit we're seeing if that's going to help solve the problem. Just so, everyone knows what's uh, what's up with that, but once again it is coors light. Has he been speaking yet nope we're still waiting for him to start we're waiting, we're waiting, we're waiting? What happens when the handle comes before the cup um? That is just not a cup and handle pattern.

Then that would be a different technical structure. I don't get am alerts but get them midday and nights. What are they doing like? Why are some? I, i just don't get it, but seriously. Don't ever do that? Hey yo, i will never listen to him because of that ad.

I just i just don't get it like it's so funny, because i see so many people talking about it and i've never seen that ad. So i feel like i'm like out of the joke on it all right. Where were we at? I just want to see a quick snapshot of the market before we get rocking here before we get rockin a little bit choppy, but i would say: favoring. The bulls is he talking come on man.

2. 30. It's already 231. He should be chatting away.

He should be a little chatty. Cathy right now wait and wait in waiting, uh bitcoin, pushing ethereum, pushing hex, pushing doge, pushing amc, pushing gme, pushing market, pushing tesla, pushing everything is going to the upside. I like it. I like it.

I like it here. We go strongly committed to achieving the monetary policy goals that congress has given us maximum employment and price stability. Today, the federal open market were zero and maintained our current pace of asset purchases. These measures, along with our strong guidance on interest rates on and on our balance sheet, will ensure that monetary policy will continue to support the economy until the recovery is complete.

Progress on vaccinations and unprecedented fiscal policy actions are also providing strong support to the recovery indicators of economic activity and employment have continued to strengthen real gdp rose at a robust 6.4 percent pace in the first half of the year, and growth is widely expected to continue At a strong pace in the second half, the sectors most adversely affected by the pandemic have improved in recent months, but the rise in coven 19 cases has slowed. Their recovery household spending rose at an especially rapid pace over the first half of the year, but flattened out in july and august as spending softened in coveted sensitive sectors such as travel and restaurants. Additionally, in some industries, near-term supply constraints are restraining activity. These constraints are particularly acute in the motor vehicle industry, where the worldwide shortage of semiconductors has sharply curtailed production, partly reflecting the effects of the virus and supply constraints.

Forecasts from fomc participants for economic growth this year have been revised somewhat lower since our june summary of economic projections, but participants still foresee rapid growth as with overall economic activity. Conditions in the labor market have continued to improve demand for labor is very strong and job gains averaged 750, 000 per month over the past three months in august, however, job gains slowed markedly with the slowdown concentrated in sectors most sensitive to the pandemic, including leisure and Hospitality, the unemployment rate was 5.2 percent in august, and this figure understates the shortfall in employment, particularly as participation in the labor market, has not moved up from the low rates that have prevailed for most of the past year. Factors related to the pandemic, such as caregiving needs and ongoing fears of the virus appear to be weighing on employment growth. These factors should diminish with progress on containing the virus leading to more rapid gains in employment.

Looking ahead, fomc participants project the labor market to continue to improve with the median projection for the unemployment rate standing at 4.8 percent at the end of this year and 3.5 percent in 2023 and 24.. The economic downturn has not fallen equally on all americans and those least able to shoulder the burden have been hardest hit, in particular, despite progress, joblessness continues to fall disproportionately on lower wage workers in the service sector and on african americans and hispanics. Inflation is elevated and will likely remain so in coming months before moderating as the economy continues to reopen and spending rebounds. We are seeing upward pressure on prices, particularly because supply bottlenecks in some sectors have limited how quickly production can respond in the near term.

These bottleneck effects have been larger and longer lasting than anticipated, leading to upward revisions to participants inflation projections for this year. While these supply effects are prominent, for now, they will abate and as they do, inflation is expected to drop back toward our longer run goal. The median inflation projection from fomc participants falls from 4.2 percent this year to 2.2 percent next year. The process of reopening the economy is unprecedented, as was the shutdown at the onset of the pandemic.

As the reopening continues, bottlenecks, hiring difficulties and other constraints could again prove to be greater and longer lasting than anticipated, posing upside risks to inflation. Our framework for monetary policy emphasizes the importance of having well-anchored inflation expectations both to foster price stability and to enhance our ability to promote our broad-based and inclusive maximum employment goal indicators of longer term inflation. Expectations appear broadly consistent with our longer run inflation goal of two percent. If sustained higher inflation were to become a serious concern, we would certainly respond and use our tools to assure that inflation runs at levels that are consistent with our goal.

The path of the economy continues to depend on the course of the virus and risks to the economic outlook remain. The delta variant has led to significant increases in covet 19 cases, resulting in significant hardship and loss and slowing the economic recovery. Continued progress on vaccinations would help contain the virus and support a return to more normal economic conditions. The fed's policy actions have been guided by our mandate to promote maximum employment and stable prices for the american people, along with our responsibilities to promote the stability of the financial system.

Our asset purchases have been a critical tool. They helped preserve financial stability and market functioning early in the pandemic and since then have helped foster accommodative financial conditions to support the economy. At our meeting that concluded earlier today, the committee continued to discuss the progress made toward our goals. Since the committee adopted its asset purchase guidance last december december, since then, the economy has made progress toward these goals.

If progress continues broadly, as expected, the committee judges that a moderation in the pace of asset purchases may soon be warranted. We also discuss the appropriate pace of tapering asset purchases once economic conditions satisfy the criterion laid out in the committee's guidance, while no decisions were made. Participants generally view that so long as the recovery remains on track a gradual tapering process. That concludes around the middle of next year is likely to be appropriate.

Even after our balance sheet stops. Expanding our elevated holdings of longer-term securities will continue to support accommodative financial conditions. The timing and pace of the coming reduction in asset purchases will not be intended to carry a direct signal regarding the timing of interest rate liftoff, for which we have articulated a different and substantially more stringent test. We continue to expect that it will be appropriate to maintain the current zero to one-quarter percent target range for the federal funds rate until labor market conditions have reached levels consistent with the committee's assessment of maximum employment and inflation has risen to two percent and is on Track to moderately exceed two percent.

For some time, half of fmc participants forecast that these favorable economic conditions will be fulfilled by the end of next year. As a result, the median projection for the appropriate level of the federal funds rate lies slightly above the effective lower bound in 2022. Participants generally expect a gradual pace of policy firming that would leave the level of the federal funds rate below estimates of its longer-run level. Through 2024., of course, these projections do not represent a committee decision or plan, and no one knows with any certainty where the economy will be a year or more from now, more important than any forecast is the fact that policy will remain accommodative until we have achieved Our maximum employment and price stability goals.

To conclude, we understand that our actions affect communities, families and businesses across the country. Everything we do is in service to our public mission. We at the fed will do everything we can to support the economy for as long as it takes to complete the recovery. Thank you and i look forward to your questions.

Okey dokey, artichokey, all right so here is the dealio. I just took a couple quick notes that uh, maybe it's just something um the highlights, if you will so right now, are they doing any tapering of asset purchases? Are they stopping in any way the current purchases of 120 billion dollars in treasury bonds and all that good stuff a month? No, no tapering whatsoever and interest rates at zero um. They basically have said that interest rates are really they're going to be at zero to a quarter percent, basically for pretty much at least a year. We're talking the end of 2022 is when they might consider raising interest rates back up and, at that point, they're still looking at their goal of maximum maximum unemployment and also they're going to have to consider an inflation.

It was because of the some of these commentary that we're seeing this right here, all right hang on um. What else we need to talk about is what are we looking at um? So the unemployment is currently 5.2 percent end of year, they're looking for 4.8 and in 2023 2024 they're looking to get it down to 3.5. Inflation is currently 4.2 and they're looking to get that down to 2.2. Of course, they're always trying to get to 2.

So right now we're clocking in at like double the inflation that they're actually comfortable with and for this tapering thing they might start tapering this november and if they do that it would be a gradual process until the middle of next year. So that's what you need to know about tapering! That's what you need to know about interest rates! That's what you need to know about unemployment and that's what you need to know about inflation. So those are like kind of the four major things of like all right. Like some of them, we knew about like we knew they weren't going to touch interest rates.

Uh. We kind of already knew from the august report, inflation around 4.4 percent, double what we want it to be unemployment, that's that data's not hard to track down. So out of those were three of the four, the fourth one was the question about tapering. What are they doing with tapering and right now uh? I guess the market is not the most stoked, the most uh.

I guess supportive of them, starting their tapering in november. So in about six weeks um, that would be my best guess on, like his commentary right there that now they're like whoa whoa whoa. What's going on mr powell um, i i guess they're just saying hang on um: maybe they wanted them to start the tapering afterwards. Maybe they were hoping that tapering wouldn't start until 2022, but overall uh pretty dovish dovish is, i guess for us at this point in time you could say better for the market and remember the market's up one percent.

That's a noteworthy day for the s. P. 500.. Up one percent: the q is up one percent russell 2000 up two percent right here i mean the bars that we're seeing actively trading are very much based on like his particular words and what he is or isn't saying.

But overall i would interpret it to be pretty bullish for the market, the commentary, the decisions and their outlook going forward. I i think, as this comes in this - will good chance of it relating to at least this gap fill at 441. on the nasdaq 100. We're looking for a gap up to 472.75, the russell 2000 already gap filled, so we don't even need this.

The russell 2000 hit its gap bill today. If it keeps going up, i would watch 223 and a half and then 224 and a half uh, but overall the market reacting reacting well like we're up we're up we're holding we're up green day. Uh amc is at 40 key level there gme's at 192.. I want to see it test 195 and then 200., like i said, the russell's looking strong, strong stuff for right now, uh i have turned off my tv.

I have turned off my tv after that, hey what's going on chris steve martin, i can't send member message. Nope you can. I read that uh working, fine working, a okay a-okay, i wonder dogecoin to the moon. Let's make it trend, go crazy, hey! I think it's really fun that uh.

I think it's really awesome that they're going to be in this world of doge, just because the the cultures that you're getting involved with it, the doge culture, the amc culture of the jimmy culture, those things like the more cross-pollination we have between all those. I i think, the more interesting this uh, this all becomes uh very broad, fomc support on timing, pace of taper, that's good uh, fomc signals rate hike in 2022 sees tapering ending mid-2022, so the rate i think, uh they are looking at the end of 2022. I wouldn't say like: oh it's: it's probably a year out the the interest rate part of it. What else do we have? Households are not going to feel the slight overshoot in inflation in outer years uh.

What else do we have? Taper announcement could come as soon as next fomc meeting so that little statement right there announcement for in terms of tapering tapering announcement could come as soon as next fomc meeting. That's probably like the little red, but like look at how we've come on the day is kind of my point here. What else do we have language and statement meant to flag bar for taper could be met as soon as next meeting man? So many of these people are being like hyper dramatic about it. Super super dramatic of like like yeah.

He said that, but talk about like nitpicking in an individual statement pal this is from short, the vix pal. We will do everything it takes to support the economy. Burr they will they will they will they will they will all right? Well, i think that's about it. I don't think there's any other.

Like bombshell of the situation, i think that's pretty much. It hey matt i've been watching evgo for a while. It's now on the threshold list. How does vortex and chart look to you evgo? Let me pull up vortex evgo evgo uh short interest of 20.87 shares on loan is 6.28 million and a utilization of 97.72, so it has all those numbers.

You said it's on the threshold list um, so with it. You just need the price action to start bending back around the thing missing on evie go right now are buyers uh. All this thing is really done is downtrend, so i would want to see it show. Some strength, and maybe get back above 10 or 11, or something like that, but other than that it doesn't meet all of the criteria.

It's just that one major criteria of where are the buyers is the current one missing so worthwhile to keep your eye eyes on bramble brambles, hey matt, i heard you mentioned the hex chart. Have they this missed any discussions? Uh i've been talking about hex just a little bit here and there i'm in hex just to be fully transparent, actually all the ones i'm in bitcoin, i'm in ethereum, i'm in hex i'm in doge. So if it sounds like i'm being optimistic battle, yeah i mean i have my money at stake in all four of the ones on the screen. I own solana, i own matic, i own al goran, i own litecoin um, all these i'm bullish on crypto uh.

I don't actively trade it uh, not at all. My biggest percentage gains are probably actually probably currently hex. I picked up hex around, i don't know eight or ten cents in like june and currently trading at 44 cents, and then i picked up more. I mean i even announced it that i bought.

I doubled up my initial investment at 38 cents and we're now trading at 44.. I'm a fan of hex, i'm a fan of ethereum, i'm a fan of cardano bitcoin doge, i'm a fan of all those. The only thus far the only crypto investment i've done that i'm not the most thrilled about is probably litecoin um. I i got into it way before i understood what it was or wasn't.

So that's i guess that's on me. Obviously i i misunderstood what level i misunderst. Oh i'm, also on v chain, just so everyone knows um, but litecoin, that's probably the only one i was like, oh man. I wish i put that money somewhere else, but i also didn't put that much money into it.

So what it could have shoulda uh, i'm not the biggest fan of sheba or safe moon um, i'm not necessarily against them. I just think there's better opportunity, all those other ones i just discussed, i think, represent more opportunity than she been safe. Moon thoughts on amc right now i like that it's battling at 40.. I, like that amc's in the green, it's up 2.7 on the day, gme is up 0.8.

On the d uh i mean i like it uh i like the green uh. The short interest is now interesting. It's above 20 percent gme also going upward almost over 14, so we're seeing the aggression of the bears in both amc and jimmy increasing, hey mort. Should we have face protection on today.

Amc feels like it might start, ripping them off. Uh, i hope it does. I i hope i hope everyone's face gets ripped off by amc. I, like i'm, ready for this one to go um with it, whatever the fed is.

What is he saying right now, whatever this dude is saying, he's not saying it right, because the market has been selling so the the pure numbers? When that the meeting minutes came out market spiked, but now ever since he opened his mouth, it's just selling. Is he saying something, stupid, facts, um and and look at ways to further tighten our rules and standards? Great. Thank you we'll go to steve liesman. What kind of questions are being asked here? Thank you uh.

Thank you, mr chairman. I want to follow up on gene's question um the issue of ownership of these stocks and trades. Do you think it's appropriate for federal reserve officials to be owning the same assets that the federal reserve is buying? Is that one of the modifications that you're looking at and in that? No, they shouldn't be yeah that one guy, what was it texas, like dude, that was a scummy guy? What he was doing, he was using his position for some financial gain that was messed up. Um, i don't see anything too crazy in these updates of why it's the the bond tapering conclude middle of 2022.

I feel like a lot of news. Outlets are like overstating it they're like oh, like look at. We might start taping like now, like, i think, they're they're trying to get people to click on it and people are making decisions on just reading the title, not understanding that they're like yeah, we might start in november, and if we do it, it's going to be Slow all the way till mid next year, but the amount of tweets uh - oh, am i frozen. Am i doing something hello? Oh your stream quality is good.

Do i have any skipped frames drop frames. What happened? No audio, my audio cutout, my hello testing, testing, testing, testing, testing, testing, testing, testing, testing, hello, hello, testing, testing testing - i don't know what's going on, am i getting trolled? If i am, i don't know if you're having a problem just hit the quick refresh button uh, i don't know, what's going on now now i got knocked off my game. Come on man focus kelly ripa would never do this uh. It seems like a lot of people can hear me if you're having a problem just hit the old refresh the old refresh uh, hey matt.

Would you recommend the true training group membership? I want to learn more about, but it's legit and worth it um. So i am not a true training group member. I don't have the membership myself uh. All i can tell you is my interactions with both adam and mike hey.

It's a full-on training education course uh. Yes, my goal is to teach their goal is to teach but they're. If you're, looking at true trading group, like i wouldn't say, they're, necessarily like a beacon of the apes like they're, not hardcore into amc and gme um, sometimes they're long on them, sometimes they're short on them, sometimes they're not playing them at all. That's just like an active group of traders, so you have to ask yourself what you want um, let me put it this way: most trading groups and trading, gurus and furus.

I hate vehemently true training group is one of the very few that i think is actually honorable and i i like, i can't sit here and be like yeah, like totally. Everyone needs to sign up, but i can say through public things and also private things. I found out they go out of their way to be pretty honorable and uh. Do what i would consider to be the morally correct thing um, so i can't really comment on the education.

The people i know in it seem to enjoy it. If that helps you at all, but what i can comment on is what i know about them as human beings. They do seem to be pretty like upstanding people, if that makes sense, um uh, the hexican charts, are calling 277 hex by christmas. Are you able to take a quick look? Oh the hexagons, i mean i love these names in the hex community.

One of the funniest things about the hex community is right here. They're called hexacans, they buy stuff and it's called a hex flex like talk about like the fun marketing like hex. It's a perfect thing: hex hex, it's fun to say the marketing team behind hex. As in i don't really mean the marketing team.

I mean the people who, like it and the fun puns in it. I think it's hilarious um. I don't know anything about 277 if it hits 277. I'm gon na lose my mind and i'm gon na be super super happy like i want it to hit that uh hex.

I think it has a lot of growth in front of it. Uh to me, when you learn about these other projects, they're very fancy fancy and you have to have like some big technical understanding to really get to the bottom of what it is. Hex, the guy who created it. The dude took cd's certificate of deposit, something that has been well known by the banking industry for decades and decades and decades.

He threw that on a blockchain and people like it, it's that simple people like what's going on. I think the the beauty in hex is the the simplicity behind it. People love cds, i'm gon na throw that on a blockchain and he made it pretty secure, um the the code. It's done it, the the project, is complete.

Like you hear about all these other forks and code updates and this, and that hex is done, it was done when it launched um. I think the beauty in hex is its simplicity, and then i just stay for the humor in the group. The like hexagons hex, flex, stuff - i find it so funny um, i'm learning more about it. I i've been in a little bit of a contact with the creator recently.

I i'm fortunate that i've i've had a very small conversation with him. Uh heart is his name. He's on twitter, he has a youtube channel. You can find him um, it's interesting.

What is going on? Oh with my like the app like i see refresh. If it's not working youtube is recovering. What is youtube doing today? Why is hex or why is youtube so against me? Are i don't think anyone is having issues elsewhere? Let me check out on twitch, no, it's working perfectly fine on twitch and it's also working on rumble. It appears yeah, i don't youtube, is just struggling man.

It's having its own its own probs right now. Am i frozen hello, mom mom um, i don't know. What's going on there? No clue no say no say i don't know um. I don't know what was it like last week where the screen just went green on me and it was fine on the other ones.

I i guess i don't know it's just tech issues, you never know what is what is or isn't going out intermittent. In your words intermittent, in my words, how do you know it's just not me once in a while, not really in them, or am i just messing with you? Maybe it's just me, you never know you never know. Uh can i starbucks drive through employees, saw my moon gang and said i love your hat, i'm a leo hello. I was so confused, lady, i'm an ape lady, i'm an ape.

Oh man, the hexagon charts are calling all right so luke. I very, i hope heck. I hope all of crypto rips. I want everything to rip if you're in it.

If i'm on it, i want it to rip all the things we talk about day in and day out. I just want to see so much green. We we don't even know what to do. We just have so much money.

We we just vomit, because we don't even know what else to do. It's. Just that's how green it is uh. Can you look at crtd, crtd um doesn't really seem like it's moving.

It's just it's been range bound ever since july. Um, i don't know, doesn't seem good or bad. It seems like a bunch of not moving. What else do we have thoughts on atr? Doesn't moon soon, uh, i'm not in the game of like predicting price levels or when things do or don't move but atr? It's it's looking strong.

I mean look at that. They just try to knock it back down and it's already fighting back. The price level is impressive, the short interest, the utilization, the shares on loan. A lot of that stuff is it's something.

It's impressive atr, it's a strong candidate, but just because it's a strong candidate, it doesn't mean anything has to happen, but um. I wouldn't be surprised if atr has a pretty big move, but just so everyone knows i don't have an atr position. Uh did you see trey's market cheat video been using it on spy last week up 110 so far been keeping using the money till it fills. Then gap fills the gap, then by amc um.

I'm trying to think have i seen that one, if that's the one, where he's just talking about buying at supply and selling at demand. I don't know if i've seen it, but i've like talked with him about it and yeah like there's. You have region of of supply, aka support and you have re or that would be demand uh. You have support which is demand, and then you have also have regions of supply which would be resistance.

Um. You can definitely play from like region to region uh, that's a very, very common one.

27 thoughts on “Ep 82 buy the dip??? dumb money: amc, gamestop crypto”
  1. Avataaar/Circle Created with python_avatars Eduardo Echaury says:

    dip deep buy the dip deep and my clock alarms says beep beep and i say play the Block Monsters game (8)

  2. Avataaar/Circle Created with python_avatars Anton Müller says:

    I'll wait a bit before I really buy. In the meantime I'm bunker into the Blockmonsters Game: D

  3. Avataaar/Circle Created with python_avatars Eros Federico says:

    Any suggestions on how to make huge returns even in this market dip?

  4. Avataaar/Circle Created with python_avatars Bla_yze says:

    I will certainly be buying this dip up!! I also believe that the NFT gaming space will explode in the near future! Projects like BlockMonsters will be leading the revolution! Don't miss your opportunity! Play to earn game on its way AND the ability to stake your $Mntsrs tokens as well as your Blockmon NFTs!

  5. Avataaar/Circle Created with python_avatars Pedro Augusto Rezende Mendes says:

    Will there one day be an episode about NFT games, like the new project that is coming, BLOCK MONSTER?

  6. Avataaar/Circle Created with python_avatars Luiz Cláudio Vasconcellos says:

    Ótimo vídeo! Podia trazer uns vídeos de jogos NFT estilo PVU e Block Monsters e demonstrar como é a estabilidade e valorização e desvalorização desses jogos no mercado.

  7. Avataaar/Circle Created with python_avatars ERIK TALON says:

    Could Block Monsters be the new AXIS? It's a great project and a big expectative. $MNSTR

  8. Avataaar/Circle Created with python_avatars Alisson Borges says:

    Talk a little bit about nft blockmonsters, it's a game that's been well talked about and it's only just beginning.

  9. Avataaar/Circle Created with python_avatars Daniel Corsodoro says:

    Really this world of crypto makes a good money, I have gained a lot with NFT games, one that I'm recommending lately is Block Monsters, very promising, bringing a huge nostalgia for pokemons.

  10. Avataaar/Circle Created with python_avatars Gabriel Cabelo says:

    I guess we MUST buy the dip, also is a good time for beginners and new ones on crypto market! Liked the blank charts too, Im price action trader, dont need much indicators! What about the Block Monsters? Its a new project NFT and that yes goona TO THE MOON! Take a look and make a video about that to us! Thx man

  11. Avataaar/Circle Created with python_avatars ZURKGP PLAY Pokémon says:

    did you say game? bro then you have to see the Block Monster jigo nft with incredible growth potential of both the game and the MNSRTS currency

  12. Avataaar/Circle Created with python_avatars Frank Carlos says:

    Am no longer waiting for the stimulus check because I earn $10,000 every day recently 🚀🚀🚀Am no longer waiting for the stimulus check because I earn $10,000 every day recently 🚀🚀🚀

  13. Avataaar/Circle Created with python_avatars Ken Zeng says:

    Tomorrow early section and premarket they will shake weak hands first, then before closing they have to cover some past due FTDs buying from open market, because dark pool price is much higher. If we can hold our shares and make them harder to find sellers, it would be great. They have to cover some FTDs by the end of tomorrow. It means the price would be offered higher if no one selling, until they found someone to sell at certain price.

  14. Avataaar/Circle Created with python_avatars Ennef An says:

    This time is a mine for high investors and everybody need to take this chance. For now I'm focused in Block Monsters.

  15. Avataaar/Circle Created with python_avatars Douglas Poveda says:

    I agree that is time to buy the dip and it'll be increased next month and until the final of this year. One investiment that I'm confiable for now is Block Monsters.

  16. Avataaar/Circle Created with python_avatars Trader Bruno Ribeiro says:

    Buy the dip ever!! Matt makes a video talking about NFT games? I would like to know more about Blockmonsters

  17. Avataaar/Circle Created with python_avatars TONY VEGAS says:

    I believe its time to buy the dip. In October the crypto world will encrease veru high and who hold or buyed now will get high profits in that investments. Also , one cheap investment that can give lots of earnings are NFT games and the best one is Block Monsters. The best one!!

  18. Avataaar/Circle Created with python_avatars Patrick L. says:

    Yes, buy the dip!! I'm not worried because I know china will be able to recover evergrande without any problem.
    Can you make some videos about blockmonsters? Some people are asking and I love this project bro! Do for us!
    Probably with the bullish market we will got some gains in the next weeks in good projects. What you think? Thanks Matt!

  19. Avataaar/Circle Created with python_avatars Anthonyspadaro355 @gmail says:

    While the resistance may hold up at first, the overall positive move in the market is likely to see repeated attempts if the initial response fails. I made $25k weekly because choosing the right strategy is Important.

  20. Avataaar/Circle Created with python_avatars Jeffro moore says:

    Got in a vax stock today made 25 percent profit to put back in amc on the dip

  21. Avataaar/Circle Created with python_avatars Jeff Vanderheiden says:

    I received 50,000 USD after investing, this is what I never expected.

  22. Avataaar/Circle Created with python_avatars Michael Noah says:

    Everybody is taking the chance of the recent spike. I know many will hate themselves later for not starting out at this time.

  23. Avataaar/Circle Created with python_avatars Special Dispatch says:

    US needs to get their hands off Ethiopia before 3rd world war starts!

  24. Avataaar/Circle Created with python_avatars Raul Mitter says:

    Despite all the economic crisis this is the right time to start up an investment

  25. Avataaar/Circle Created with python_avatars Robert jarrat says:

    7I'm so happy ☺️ my life is totally changed. I've been earning $10,250 returns from my $4,000 Investment every 13 days

  26. Avataaar/Circle Created with python_avatars Kai Turn up Milla says:

    This guy hating on computer share .. shoes his true colors im done and I suggest you all unsubscribe from this milk dud aswell … I followed him for a long time .. and now I see were he really stands .. pce loser !

  27. Avataaar/Circle Created with python_avatars John Even says:

    I want to wake up one morning and find out that my portfolio is $4,000,000 . I know it’s possible

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