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Dumb Money Ep. 88
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Foreign gang hello, hello, hello, folks, folks, folks, folks, folks, hello, hello, hello, mama, mama, moon, gang man, man, oh man, golly, oh golly, i went deep down this rabbit hole of the whole ken griffin situation and uh yeah. We have a lot a lot to go over. We went, we went deep into it. Last night i was talking with some of my moderators this morning, getting some more info and boy.

Oh boy, we have some things to go over. I see a lot of correct information out there. I see a lot of wrong information out there, so we just have to get like what's actually going on, because i think a lot of people are uh, like i guess like promoting things that i'm just like. I don't know, i'm not finding evidence of certain things.

It's just like random things being made up other things that i think are a big deal that no one's talking about. We have a lot to go over, but i guess before we hop into really what's going on uh with that i kind of want to run through it. I think i'll just run through it chronologically. Let me quickly just give you the breakdown.

Just in case i get going a little bit too long for market open uh, i mean i'm just excited so amc today: sky high 20.85. This is a record for amc short interest. 20.85 they've already borrowed uh 556 557 000 for a net of 528 against it. Today the utilization is 87.17 and the shares on loan are 115 million.

Now i'm already seeing a couple comments about how is it possible that the short interest is going up, but the utilization is going down? That's obviously illegal, it can't happen. What's going on uh, it's not you have to understand what utilization is remember. Utilization is the amount of shares on loan divided by the total loanable shares, both those numbers x, divided by y they're, very dynamic. Obviously, the shares on loan can increase decrease, but so can also the pool of the shares that are being will like willing to lent out.

So how is it possible that the shares on loan goes up? The short interest goes up, but the utilization goes down. Well, mathematically, what that means is the total pool of loanable shares is going up by a greater magnitude than the shares on loan. It is possible, it's a mathematical sleight of hand, but it's not really indicative of foul play or anything like that, and just so you know, the average age of these shares on loan is coming in just below 68 days, so they've been paying this cost. To borrow for quite a while in terms of gamestop they've, already borrowed 255 000 against it.

Utilization 36 shares on loan, 8.17 million short interest. 14.4. That's definitely been going up and the average age of these shares on loan is now just below 36 days. In terms of amc and gme uh, really we have not seen much over the past five days on either of them low volume, low volatility, the the price action is just not there so like really watching the stark.

The stock like throughout the day, has been a bit boring, uh low volume, low volatility, we're not seeing much going on uh right now. Unfortunately, amc is gapping down in pre-market. We have nice support between, like, let's just call it the mid-37s. I hope we don't get there.

I hope like right out of the gate, we catch a nice bid and we just start to move from there, but just so you know that's the closest support, closest resistance, 4140 and still in the short term. I am looking for this gap fell up to 44 20. uh, just as a friendly reminder. Personally, obviously, i'm not in charge of your money.

You should trade whatever you want to trade, but for me i personally don't think it's a good time to be really diving into amc, gme options just because the volatility is so low, so uh remember: theta could chop you up the low volatility if it doesn't start To increase that can mess you up, there's just various things going on that, i'm seeing between volume and volatility. That personally tell me it's not the best time for options in terms of gme. We have this nice support at 178. We're looking kind of for this.

I was looking at this. I don't know kind of weird channel. I was trying to figure out the technical structure, nothing too obvious, going on um a little bit of this channel. It's just wonky, and it was this earnings announcement that kind of messed everything up with it, but right now we're trading around 188.

We know gme has a nice region of support. I've been calling it 188 to 190.. We do have some wicks down to 185, but pretty much in this region. Gme has been finding buyers looking for a bounce and a push back up to 200.

We also have an additional support around 178. in terms of the overall market. We are seeing a push down. Oh that reminds me.

I did not bring this up yet hang on. Let me just make sure. Oh oops, that's not working. Maybe it's not up.

Oh interesting, okay, uh! So obviously the market right here, the s p 500. Definitely gapping down, and with this to the best of my understanding, unless there was some recent major announcement, uh we're just getting closer to the debt ceiling deadline, which is obviously uh kind of a big deal. The u.s has never defaulted uh. I don't think that they will, but we are getting closer that i believe is in two days um.

So we have till september 30th. So as we get closer, tensions could get a bit high. But if i had to guess um, i would kind of assume that they're going to do some sort of bridge where, like okay, we're going to be able, like some emergency bill, that they get passed and gives them enough funding to run for a couple more weeks. And within that time frame they end up getting it actually like all figured out and then from there on that announcement.

The market starts to push. But that's what the s p 500 is looking like nasdaq uh, very similar gapping down, actually more and then iwm uh relative to the other relative to the other two actually holding up more nicely uh, and this is the one we specifically care about in the realm Of amc, because amc is the biggest stock within the russell 2000 uh, so this one is actually holding up the most nicely. So just so, you know kind of where the overall market's at right now all of crypto's pretty much flat. It was flat it pushed and now we're right back into that flat area.

Bitcoin ethereum, cardano hex, a lot like all of them. Uh are pretty much at behaving like this at the moment in time, all right, all right, all right, all right. We did all of that and i just want to make sure that there's nothing major i need to cover with these. Before i get into my my rant, my rant about, i don't know the dd uh i like this.

This is actually super super fun for me because i feel like it's like um a a living research thing sub subsequently, subsequently yeah, my brain was fried over yesterday uh subsequently. Normally i can say that word but uh in in reality, when i'm like sleep deprived, it was, it was not the most ideal subsequently see he nailed it, he nailed it all right. Let me make i want to get ready for all this. We're going to drop some fact bombs on everyone, and i am excited about it.

Let me make sure we are a okay, a okay, a okay, all right, so let me mm-hmm, let me paint a scene for you. Let me paint a scene for all of you. Let me hang out: where do we have this all right? Let me paint a scene, so back in january, gamestop was going haywire, absolutely haywire, the the cultural following behind it, the social following behind it, the stock price itself. Everything was going nuts and the one day we all got up late january and what had happened was they're like whoa, i can't buy uh people on some of the most major retail platforms, such as robin hood, such as weeble could not buy stock.

The robin hood and we're about to see this in some documentation. They they pco'd it position close only they pco'd, gamestop amc and basically their clearing broker the dtcc, like that entire structure. There was just saying, hang on, like you guys, don't have enough money. This is insane uh you're, not gon na cover it and so for them, basically to save their own butt, we're like well, if we don't have the money like we'll, just stop the buying of it, and then they quickly did like a cash raise of over three Billion dollars, it was just an entire hectic scenario, um and honestly, even for my time in the market, i didn't even know that they could do that like a brokerage on their own uh.

I guess decision just decide to be like you know what like we're, not gon na, allow the purchasing of these stocks anymore and many many respected people all admit that if you could do it, these stocks would have gone way higher at that moment in time. That's not really a debated thing, that's kind of a generally accepted thing that, of course, like people were like the the appetite to continue to buy was there, and that was the fallout and it took a while. Actually i mean i was streaming all that stuff live uh. I was living that in the real moment like it was one of those weird situations where, like robin hood's documentation, we were like refreshing it every single minute to see how many shares you could buy.

Was it zero? Was it one? Was it five or are there any calls? Can you buy five calls now? It was an insane scenario that not many people knew was even legal and then that kind of got into the question. Well, is it legal and with that people started to really dive into the market, mechanics of what was going on a lot of us knew about this brokerage. This brokerage thing called robinhood and then in the the government hearings we heard that they were using to get all their trades executed. We heard that they were using a market maker, namely citadel securities and who that's run by ken griffin.

So you have vlad tenniv. The ceo of robin hood, who runs the brokerage that many many people run, millions of people were on and then all these trades were actually getting executed, um by citadel securities, this market maker. So you had a lot of people looking into it and all of a sudden things. It just seemed crazy, like a lot of people feel and like for obvious obvious reasons they feel like money was stolen from them because, like i just said, a lot of people admit the stock would have gone way higher if they did not pco position close only So this got to such a degree.

This was one of the craziest stories of recent and it actually got the attention of our government. So in these government trials, which you can watch right here, uh look for the february 18th game stopped, who wins and loses when short, sellers, social media and retail event id 111, 207 and more recently. So here there's a lot like this is hours long. This is five and a half hours long and, as you can see, i'm going to be talking about three hours and 10 minutes in.

I think that's where we have some interesting stuff, but the reason this particular thing is now getting storm once again is because of a case filing uh. We have in the district of florida. I could post this below uh just so you guys can check it out yourself and we're seeing some things that people are like whoa whoa whoa, like we remember some of the comments. We remember what this is saying now and just something's not really adding up, and it's really turning a lot of heads to the point that over here at twitter yesterday, ken griffin lied was trending, twitter, squashed it and now it's the question of okay.

I don't think many people would argue that from like a moral standpoint of like what you're, what are you doing for the greater good? Is it good or is it bad? Is it detrimental, not um, but we also have to get in and remember i'm not a lawyer, i'm not a financial advisor, but sometimes with this type of stuff. You have to dive into the specifics and understand that the the world of justice and the the legal system lives in the world of technicalities. It's very very specific, where you really have to comb through each word each sentence and understand the context that it's actually in um and with it like i, i guess i'm doing my best but like i said i have no legal expertise. So maybe some of my commentary is going to be completely off point, but i think it's good for at least us to dive into because of two things when i'm going through on twitter last night, and this morning i mean folks - i've been like so deep in This rabbit hole i feel like i could be the next easter bunny i'm seeing quotes that are wrong about the entire situation, like they're they're, trying to pull things out of this transcript.

That is completely wrong and then i'm seeing other things that to me, i'm like whoa. This is a big deal. However, people not talking about this and i kind of want to shine a little bit of light on that, at least because i i just think it's important. I think it's very important that people have a better understanding of like the truth of the overall situation.

So here's what i think the best way to do with this is, i think, let's go through this chronologically, so i explained gamestop amc went absolutely haywire in late january and then fast forward to mid-february. This is where they were. Having a talk and right here, we have this representative. I don't know what state he's from.

We have juan, ah shoot what i don't know what state he's from i'm sure, oh right here, juan vargas uh, california, 51 um, okay. So he is currently talking to ken griffin, the ceo citadel, the hedge fund and citadel securities, the world's largest market maker um. Instead of going through this, i think it's a lot more humorous and also maybe for some dmca issues that, if, if i just take on like i'm, i've been working on my acting career, as you can tell so in this particular bit, i will be taking on The the role of both mr juan and mr ken and you're gon na know, who is who uh we will uh we're gon na, be doing this through uh through our our mic change our voice changer over here. Let me get this set up.

This is my first big acting debut just so everyone knows all right, let's zoom in a little bit all right, all right, all right! So just so you know, if you want to check this out, here's the video i'm not hiding at all. You guys should all listen to the testimony fast forward to three hours: 10 minutes. It is posted by the house community on financial services uh, like i, i implore everyone to check this out, and just so you know they did talk a little bit beforehand and right as i'm about to hop into my own scene, my own character here um, mr Juan was asking oh like how many people do you have in the room and ken's like five, including myself, he's like? I don't think you need much more help, because, like all these rich ceos, they basically have all the help enter juan. Now i have to ask you said that you didn't talk to anybody citadel citadel securities.

Did anyone in your organization since january 1st contact robin hood? Are you asking if we've had contact with robin hood with respect to gamestop and what we are obviously talking about so congressman we've offered to have my colleague who manages the relationship be here today? Instead, he has first-hand knowledge. We are, of course, talking to robin hood routinely in the ordinary course of business. We manage a substantial portion of their order flow, all right back to mac horse here, narrator, just so, you know right there. This is from ken griffin.

We are, of course, talking to robin hood routinely in the ordinary course of business. We are, of course, talking to robin hood routinely in the ordinary course of business that was said by ken griffin on february 18th of 2021, all right back to juan. Well, i understand that, but did you talk to them about restricting or doing anything, to prevent people from buying not selling but buying stock in gamestop? Anyone in your organization - let me be perfectly clear - absolutely not so if we depose everyone in your organization, we will find that that is correct. All right, so that's kind of the setup we have.

This is february 18th. All that happened, and once again you can find this between this representative. You can find it between 10 and it seems like this is, i think, the big um disconnection that we're seeing so right there on this day, ken admitted they routinely his organization routinely talks to robin hood. What i think in legally speak that they're really going to dive into was the question.

Well, i understand that. But did you talk to them about restricting or doing anything to prevent people from buying stock in gamestop anyone in your organization? So this is very much in reference to the pco stuff. The position close only so with this i'm seeing a bunch of quotes - and it seems like people are nitpicking - quotes to like kind of fit their like whatever their narrative, but this is the full thing in order. You can fact check me right here.

This is the stream i'm not like, hiding anything from where i got this, but let me dive into a little bit more because i think it's interesting, and this is where well. Okay, like i don't think this is going to be surprising to anyone where i'm like. Oh, i think this is how this billionaire gets off. We all know like especially in america, if you're a billionaire you're going to get away with a lot of stuff you shouldn't get away with, so i'm i guess in a certain sense.

I i think this is how they're going to get away with it like. I feel like i've gone down in this rabbit hole that, like, i think i can now predict what the lawyer is going to do and like just because of like the technicalities of law. The question that he answered, let me be perfectly clear, absolutely not, as in ken the question was, did you have conversations with them to prevent people from buying not selling but buying stock and gamestop? Anyone in your organization, basically referring to, did citadel, have any input on this pco thing the position close only because we know that they talk like if you think siddell and robin hood, don't talk like they do. I mean ken griffin announced it.

So let me fast forward a little bit. This came out recently, so this is the case. You could check it out. I will pin it below.

Let me go to the right pages. All right. We have to start off at 57. um so right here on 57 greenwich, howard gretchen.

Excuse me gretchen howard, the ceo of robin hood, talking about position close only she said. Can you call me major liquidity issue? We have pco amc and gme, so this is a completely different tangent, but right here, major liquidity issue. This was on the 28th. The very next day vlad tenef was on cnbc with uh andrew sorkin, saying yeah.

No, no liquidity issue like uh, there's, no liquidity issue. So this is a contradictory in itself right here, uh a day before, and even there like. Now, it's just like picking this game of like okay, like we all know, this is clearly clearly messed up. It's the issue of like okay, the lawyers are gon na duke this out because they can be like yeah.

No gretchen knew about that on the 28th, but by the 29th it was fixed and that's like gives vlad the free pass to say it. So this is like the absurdly frustrating part that makes me want to rip out. My own hair is because, like i just feel like, i could see where the lawyers are going to take this and how these people are going to get away with this particular thing. Unless we get more evidence but hang on like um, i think there's some other interesting in things in here like in reference to what we just talked about all right, we're going to get crucified for pco.

We have that um they just basically i'm just bringing this up to you, because they knew what they did was obviously bad, but i do want to bring in 82 if you go to the pdf and you go to 82.. This is where i think it's interesting and yesterday, so this is on the 27th just to fyi that dan and i are joining jim at 5 p.m, on a call with citadel. So yesterday, when i was like first getting into the story, i kind of like pointed this line out as being an important one of like okay, like when we knew they talked, and a lot of people are just trying to say, they're, like they're, trying to act As this ken griffin lied thing as in oh, oh, he lied about just talking to robin. Well, that's not necessarily the lie.

No, like ken griffin has fully admitted that he speaks with robin hood. The organization speaks with robin hood. We know that. That's how you conduct business, the question the lie is: did citadel, have any commentary or input on robinhood pc owing amc, gme and like a host of other stocks.

This is where it's kind of interesting, at least to me just in fyi that dan and i are joining jim at 5 pm on a call with citadel. I pointed this out and i just want you to remember jim right here, um and right here. Vlad said, okay, maybe this would be a good time for me to chat with ken griffin. You guys can mention that i've never met him.

So, as of the 27th vlad saying, he never met him, but that doesn't mean that there's not talks between citadel and robinhood, but anyway, this gym name on the 27th they're talking with them um. So i'm assuming that this gym is the same gym. I know i'm being told that there's multiple gyms in this world - i know that's news to me, but i'm just gon na take this leap here and maybe this is why i'm not gon na be a good lawyer, because i'm taking these leaps, i shouldn't take um, But this is the gym, i'm just gon na call it this same gym right here. That gretchen is referring to um right here.

Anecdotal evidence that several very large firms are having really bad nights as well too then jim responds everyone. Is you wouldn't believe the conversation? We had with citadel total mess so, like i said, i'm not a lawyer or anything, but this is the converse everyone is you wouldn't believe the conversation we had with citadel? This is, if there's going to be like a smoking gun, evidence of what's going on, did citadel in any shape, form or manner have an impact on them pc. Owing this conversation right here, you wouldn't believe the conversation we have with citadel total mess, so it the like the answer's lying jim folks. The answers lie in mr jim swarth, whoever that dude is um.

I want to like it's just crazy stuff, absolutely crazy, crazy, crazy, crazy stuff um. So to me, that's the thing: that's the evidence so for everyone listening who's diving into this, i read the transcript uh, which i think i knocked that out of the park, my acting ability um between juan and ken on february 18th of what was going on here And the actual quotes i'm seeing a lot of quotes fly around on both twitter and reddit that are incorrect. I'm telling you you can't just be retweeting like a meme or any of that stuff. The evidence is right here.

Three hours, 10 minutes game stopped. It's posted by the house committee on financial services live on february 18th. You can hear it for yourself. This is not hard to track down, and then you start tying it together with this lawsuit and all the information on or like this class action lawsuit.

And i think if you come to page 82 to me in my non-legal professional opinion, just an fyi that dan and i are joining gym at 5 pm on a call later on, we have jim everyone. Is you wouldn't believe the conversation we had with citadel that to me could be the contradictory thing of right here of like later the conversation we had with ken, but with it that's the onus is on the prosecutor. It really is in this. That's how our system works.

You are innocent, till proven guilty and right here we have a lot of. I don't know what the term is secondary, circumstantial. I don't know what it is, but we're still at that point where we need that thing. Where we're talking about robin hood and citadel talking about pcoying and like agreeing that it's a good idea, a bad idea, something along those lines, that's the piece of evidence that, like i think, could lead to like legitimate jail time, but there's more.

This is from citadel security. Citadel securities did not ask robin hood or any other firm, to restrict or limit its training activity on january 27th. So well. This is weird because, like now you're just like almost fact, checking okay, so 27th, like okay, did they talk on the 20.? Hey like this is the weird word it's like.

Did a lawyer literally read every single word like oh well, we didn't ask them to. We told them to like - and this is where it's that dumb game of like just legal stuff. Well, no, no, no, we didn't ask, we told him, it wasn't the 27th. It was the 26th.

It was the 28th like i feel like i. I just feel like a lawyer was over the shoulder of every single word written, but what i think they tweeted out and didn't weren't meaning to tweet about was right here. Citadel securities was the only major market maker during this time that provided continuous liquidity. Every minute of every trading day, i think that they're going to wish they could take this tweet back this second one right here, tweeted out 14 hours ago, right away, people who know their shit are jumping on him.

Susan trimbath market maker equals code for creating phantom shares by taking your buy order, not getting shares at settlement to deliver to you but requiring your cash payment anyway. Okay, so just know, you know a little bit about that like there so right. There they're just proud that they made like the most money in this scenario, but it actually gets a little bit more deep than this shout out to dave lauer same tweet like these are both quote tweets. This is a huge problem.

It is not something to brag about segmenting retail order flow to an uncompetitive. Duopoly has made markets so toxic that we cannot count on other firms or expect any market-making diversity during market stress. This is a recipe for disaster, so coming back, we have them bragging about saying no, no, like we didn't ask them. I swear i swear.

I saw her. We never talked to him about this, like that. Had nothing to do us and in fact right here we made a lot of money while doing it and we're taking advantage of a very toxic system this right here, these tweets, this the they should have said nothing, i'm not a lawyer. I am not a lawyer, but i i bet their lawyer had hair yesterday and is now bald today.

If i had to throw a guess out there, this series followed up with the lawsuit, followed up with the comments from february their lawyer. Their pr team has to be ripping their hair out. So that's what i have for you. That's the current update folks.

I am still deep in this rabbit hole. There are still things to like uncover and talk about. So i just want you to know this is the point, the current point, where i'm at with the whole ken griffin line thing diving into the situation, i'm just trying to keep everyone up to date on like actual facts, instead of just like bullshit, we see on Social media and things of citadel saying this social media saying this i'm trying to like dive into it, so we all actually have the truth. Uh as i get more and more i'm gon na.

Let all of you know i absolutely promise, but with all that being said, i think i nailed this timing. I really do the mark is about to open. We have seconds left. I had 10 seconds left.

I feel like i crushed that timing. Oh i'm feeling good. I'm feeling good all right, ding, ding, ding, the casino is open, all right, all right, all right. What do you have going on here? What do we have going on here? All right, all right, all right, all right, tesla, very much want that to hit 800.

So i don't continue my toxic relationship with it amc pushing above 39. What do we have going on in the russell kind of light volume at 225? Currently amc 3883 gme, 180. 730. Tesla, 787.

Tesla. Let me get up the overall market right here overall market trying to decide what it wants to do all right. Where are we going today market all right and actually, let me see if i can ever find that there's one more thing i did want to go over all right. Five things to know before the stock market opens on tuesday.

Well, we're a little bit late because the stock market already opened, but the nasdaq futures sink as soaring bond yields. Slam tech, feds pal to acknowledge inflation may last longer pfizer asks fda to clear covet vaccine for kids, 5 to 11 senate geo. P blocks bill to fund government, suspend debt limit, ford, sk innovation to spend 11 billion on new u.s plants. So those are apparently the five things to know as of this morning and there actually might be a couple more things to do.

What else do we have here? The biggest store in the markets? Right now is in stocks, its bonds treasury yields are increasing, indicating a bond sell-off. Treasury yields up bond sell-off, which is bullish, sign for stocks tied to the economy like energy and a bearish sign for high-growth tech stocks. Uh covid 55 of the u.s population is fully vaccinated, ranking number 42 in the world and putting it behind countries like uk, italy, canada, malaysia and china. President biden got his pfizer booster shot yesterday and encouraged everyone who is eligible to follow the leader with this um.

Remember, i'm i, i think it's good to be informed on politics, but whatever it is understand that you should be using politics to bolster your trading to make you a more profitable trader. I've seen it many many times before uh, even recently, just with our people are so, i guess entrenched in their own political viewpoint. You should not be making trades on that. I saw so so many people would it doesn't matter left right in the middle it like non-political people get into it um, and you have to understand that, like you, don't want to let your own political biases get in the way of your training, because i've seen People lose a lot of money because of it, and that goes for both sides like this is not me saying, like one side is better one side is worse, it's not at all.

It's me just saying hey like be reasonable. Understand that, like you, can't let your own political opinions get in the way of what would be a good trade and it can't let you get forced into something that would actually legitimately be a bad trade um, i'm not against people having a political opinion. I'm just saying: hey share it with other people that, like i guess you want to debate politics with, but here in this world in the moon gang uh we're not political, but we talk about politics. So we better understand what is going on with the economy or what might be happening with the economy, all right uh, so we have both the spy and iwm selling right now, all right, let me get back to the uh.

It's pronounced subsequential subsequently. Subsequently, mr ronicles, hey matt, it's i'm. Sam from new zealand, been in apes. In january, i've joined a team of nft creatives.

We have a project that is 10k different apes. We are verified, called great ape society, that's pretty cool uh. We would like to give some away to you and the apes. Can i email you who likes free, nfts, oh sweet yeah.

I think the community would love that it's hard to pass up on free yeah. Mr runicles, you can find in the about section that there's like a contact that you can reach out to me and and we could go from there, but that sounds fun sounds definitely fun. Thanks for all you do. I'm learning so much shout out.

It's m e matt ross, uh, painting, happy trees of truth. My a mafia boss has buffers as well doesn't make him innocent yeah with it. It's if it's one of those situations where i think, if you get into the world of money and power and who's doing what uh you never really see the upper guy getting in trouble. It's always like the right-hand man and the people below that that end up getting caught, couldn't they be audited and confirmed that way.

Well, don't like don't forget that they um they seized vlad tenem's phone. So if that phone has the evidence of them like talking about pc owing that could be a big deal, the government has seized vlad tennis phone and to me that could be a pretty crazy situation. It would be an insanely insane situation so, but once again like we're waiting, we're seeing like the evidence come out from that um, we wait. Wait, wait uh dude! The conversation was so urgent that kenny boy had to speak with the ceo of robbing hoodies.

Isn't that motive to bust him? Look at the timeline uh it looked like. It was the other way around that robin hood had the urgency to talk with citadel, because remember the the gretchen howard is the ceo of robin hood. So they were the ones that like were talking with them at five and then he's like. Oh i'll talk to him.

We haven't met yet and that, as in i'm, referring to vlad right now, um the market is rigged. How can we win this um it? I would i don't know rigged, that's kind of like your own definition of rank. Do i think, there's like manipulation and malpractice and mess-up things going on yeah, but do i think it's so insanely gone that it's not fixable because, like i think it's one of those things that we see pockets of illicit nefarious, manipulation um. So it's those pockets that we're trying to fix um.

I don't think you're seeing these rampant issues in every single equity option. Future crypto we're trying to highlight certain things where people are abusing the overall system. What's your take on cei uh, so cei is running with oil right now. I think it's a bit chasey.

I think the perfect entry was probably the most recent. I shouldn't say perfect. The most recent solid entry in terms of risk reward in my own opinion, was closer to 1.70 um, so i'm kind of watching this - i don't know i i was looking at this kind of feb, 22nd, uh or sorry september 22nd september 23rd. Looking for this breakout and push it tap, three uh, it's ripping and if you're in it congratulations but like.

If, if you don't have a position and you like it, it's just make sure you're like actually checking your risk. I don't want to see people get like blown out of the water on this one. Someone said uh, no matt, the lord h. I don't know what the lad ha the lord uh louis vasquez.

I don't know what that means. No matt. The latter told vlad that citadel wants to talk uh. No, it's the other way around.

This is from vlad. Maybe this would be a good time for me to chat with ken griffin. You guys can mention that i've never met him. That was on uh january 27th.

Um, this is from vlad, it was, it seems, like it was robin hood who's trying to reach out to citadel whoa, and they had fy dan and i are joining jim at 5 p.m, on a call with citadel all right, where are we at amc? Currently, at 38 30 gme at 189., uh iwm doesn't really quite know what it wants to do: uh the spy. How are the queues q's got smacked, but it looks like people are trying to step in right now. Uh so remember with the qs and uh shout out to morningbrew there with that quick explanation, i actually really like that. Let me repeat it.

I think it's important uh to know why energy stocks are doing well and not tech stocks uh. The biggest story in the market right now is in stocks. It's bonds. Treasury yields are increasing, indicating a bond sell-off, which is bullish sign for stocks tied to the economy.

Like energy and a bearish sign for high-growth tech stocks uh just so you kind of know about what's going on with treasury yields up bonds down uh, just so we're all kind of on the same page. With that all right, all right, all right all right now we have some buyers stepping in at least in the russell. Let's see if this can hold do, we have buyers stepping into the nasdaq, no, no, no, no okay. So this is one of those weird things where you're, seeing the the strength of tech, uh right now, tech getting hit yield going up bonds going down that bond's going down.

You have high growth, going down high growth, tech, uh and right now, when you look at the quote, unquote overall economy, uh, the s p 500, you can see how much weight tech has because that's getting drug down, but on the other hand you have the russell 2000 actually trying to push uh kind of interesting kind of kind of interesting. The more you know. Uh morning chair, oh hey, match playing rdhl gap up 750 with april expiration date thoughts. I also heard your thoughts.

I also never heard your thoughts on ear rdhl, rdhl, uh, crazy, crazy, low volume on rdhl, so not a fan of that, but, okay, so it's a biopharma play. I would want to know why it cap down on rdhl. That would be my first question. Okay like why? What happened? What happened here, that it went from 7 30 down to five, they had to lose a patent or that something had to happen.

That was not the best um, so i would want to know why and understand if they could actually come back. So when it comes to a farm and play, you have to know what happened but from a technical perspective. If it's not that bad uh, i would be watching 650 first and then the full gap fell up to 7 30. ear medical specialties.

The exact same thing i need to know why, why did it drop off? Was it an overreaction was an appropriate reaction and even with it, even if it was an overreaction, i don't think i would personally like it until it gets some momentum and starts to fight back upwards. So whenever i see a giant gap down medical specialties biotech the pharma world, i need to know why uh, what do you think about utilization slowly, going down in amc and the volume um, so those are two very different things. Uh volume is just it's just low volume right now, um that low volume does not mean bullish or bearish. Neither does high volume like volume is most closely associated with volatility, but even that is not like a perfect correlation um.

So low volume is just low volume. Like you just have these periods of low volume, low volatility, and then you have periods of high volume, high volatility we're just in the former in terms of utilization. The fact that short interest is going up and the utilization is going down is telling me that a greater amount of people are willing to lend their shares out to get those interest payments rather uh. It's a greater amount than the shares going out on loan, but even that the shares going down on loan is pretty vast and that's why we're at a record high short interest on amc and even gme short interest is really climbing up there really climbing up there.

All right so the spy and the russell i'm watching them, uh they're, making me a bit nervous right now, if i'm being honest man, man, oh man, what is the russell doing the russell? The russell, the russell 224? Basically, what is this high? Let's watch. 224. 36.. 224., well, let's just call it 40, because i have this mark at 44.

- that's 36, 4 cents, each weights, 224. 40.. Right now, i'm just seeing some pressure from just the market selling. We have pressure from the spy.

We have pressure from iwm right now. The queues are selling um this. This is one of those days where it seems like it's not really being driven by individual stocks uh. It looks like i guess, if you're a tesla fan, which i am back into tesla right now, that was having a good day.

It ran up to 796 right now at 791, but we are seeing the spy getting hit. The queue is getting hit, the frost like the market is selling off today, hey matt meme maker og. I message you on discord about doing some research before i try and meet with tim scott. If you could take a look whenever you get a chance, i'd appreciate, it sure will shout out.

Meme maker og amc broke out of the wedge. Uh, callum uh check, lottery stocks, tweet love, you lottery, stocks tweet, i don't know who lottery stocks is lottery stocks. Let me check this out lottery stocks. What do we have some breaking news that we need to dive into? I really like the lottery stocks.

Uh. I'm not finding an account called lottery stocks or even one. I guess close. It's just giving me one account, who i don't think is what you're, referring to unless you're saying like companies that are publicly traded that run the lottery.

Is that what you're referring to uh? Hey matt thoughts on ta for rolls royce still, learning in the shotguns has been going downhill, uh, but just landed a huge military engine contract. So i saw a couple people talking about: isn't it r y c e y yeah? So i don't trade it just because it's on it's not on a normal market, it's on the otc market, so i'm not going to trade it it's been running lately, but i mean i see all these massive gaps below it, but it has the fact that it Has five letters? It's the otc market right here, it's trading on the gray market, not the biggest fan of it. I think rolls-royce is a good company, i'm not saying anything bad about it. I just don't like the market it's on, and it's just one of my rules to not trade on things like that.

If, if it breaks one of my rules, i'm attempting to protect myself so even when i see something that i'm like, oh i like it, it might be an opportunity. Well, if i have a rule against it, i do my best to stick to my rules, and one of mine is to not trade, the otc gray market, r cap r cat. What is this one data processing red cat holdings, so a gap up that goes red. This is typically bearish when it gaps up goes red um.

I don't know when you got in you're in it big. I hope you didn't buy it yesterday. That would have been definitely chasing so for you. I hope it catches itself either at 3 20, where it's kind of at now or three flat and bounces off of that, but just be mindful of the gap that you have below all right.

What else do we have our ctrm? So, even though i'm not a fan of the marine shipping industry, this thing has shown pretty reasonable strength since august 23rd, just kind of up up up looking for this breakout around 280 uh rejection, rejection, kind of actually cup and handle set up. So i would just be watching 280 see if it can get above that and then also specifically three so you're watching this 20 cent region of supply, and you want to see how it actually reacts to that um. That's technically how i would view the current situation. All right, ater, ater ayter not doing much on the day, um, not much it's down, 1.7 uh you're watching 13 and then 1370 bbig bbig looks like it just did its gap fill so hopefully it catches itself soon, but it gap filled to the 24th.

A n y - i know people have been talking about a and y, has just not been going anywhere really ever since september, third, flat flat flat flat no direction on a and y all right. Let's go back. Oh mma t was the other one mmat so good morning, so i had a good morning but intraday it's getting smacked right now, but if it can catch itself soon i mean this day like it. It's it's knocking it's trying to move uh, but this is a pretty hefty smack, so look for it to base and start to bend back around on that just so everyone knows i don't have an mmat position, but look for a bass, hopefully soon all right, spy Spy, the spy we now okay, so the spy looks like it's not going to have the best of days, but when it finally bases the way we had, this beautiful gap fill play from the 17th through the 20th.

We're, like oh, very obvious gap and people were able to play. I think this honestly is just setting up another gap that we'll be able to capitalize when the time is right. The time is not right right now, but eventually we're going to be able to make some money by playing the spy gap to 441.90 right here from yesterday to today um. So i'm going to keep my eyes on that same thing, with the nasdaq we're going to have this opportunity to also make money right here on this gap fill to 367.73 and then just for the bigger picture on iwm.

This didn't gap, so the the gap opportunity that i, if i had to guess it, maybe in the next week or two, but once again that's a debt, a guess like i don't like to put a time frame on it. We just have to watch the chart and see how it develops. It looks like we're going to have a pretty easy layup of a trade on spy and the cues when the time is right once again, when the time is right. I personally don't think the time is right at the moment.

Um but uh. The gap fills on the overall indexes. It's it's a it's a setup. It's an easy easy play.

Um! I love those plays all right, so spy still coming down right now, tesla how's this one looking tesla got smacked, actually shoot that sucks that sucks for me, what else do we have uh camber energy, squeezing not really? No. This is more of like an energy. Like momentum, push on cei uh, what about that's? That's the other zack morris is pushing besides. I have no idea who zack morris is uh, so i don't know if he's a good person to listen to or not uh, but d-a-t-s i mean it's looking good on the intraday at least, and also on the daily this one's ripping uh.

It is pretty much at an all-time high, a little bit more to go, and then it's at an all-time high. I'm not gon na buy in that all-time high no way no way jose. Would i buy anything at an all-time high. It's just a perfect way to be a bag holder, but if you're already in it huge congrats ride the trend, the trend is your friend ride it out, but in terms of an entry, i don't think this is an entry and it's the same as cei.

What field package software uh uh? I think some people were talking about dats yesterday and if, if you've been in it, the nice entry a little bit chasey but 910 was reasonable and now you're already up three bucks uh. So 33 percent return in three days, not a bad deal. What's my thoughts on g, o e v or text info looks good. Let me check out.

I don't know what it is g-o-e-v. Let me check this out. G-O-E-V canoe, canoe, canoe, canoe, uh, short interest of 35.45 shares on loan, 40-ish million um utilization 98. So that's a medium float, so i would prefer that it's a lower flow if you're looking for a ftd short squeeze type of a plate, but i also don't think nasdaq threshold list.

I don't think it's on the threshold list, g-o-e-v yeah. So, for me uh this one would not meet it because it has two knocks against it. It's more of a medium full and it's not on the threshold list. Uh.

Does it have nice price action? Not really. It looks a little bit weak right now, um. So i i, when i have three knocks against it like, and i can't say the price action's a knock against it. I just wish it didn't.

Have this red day yesterday and some weakness today, um, but this is most likely similar to amc gme the things that are red right now, folks, everything is red. The market is red uh. This is uh. This is a market issue.

This is not an individual stock but goev, so the price action, not where i like it, the it's. This float not really where i like it and it's not on the threshold list, so i think there's just too many knocks against it all right. I think we're uh. I buy three thousand for six, i'm long term in this weight for 40., hey matt as more gme amc shares, go through drs computer share and become truly unloadable via brokers.

Will volatility increase and volume stay low, uh? No uh? That's a huge rarity to see i mean it could, but i would bet that the you won't see that volatility increase in volume stay low. That is a massive massive rarity that scenario um, usually volume and volatility, go hand in hand, but sometimes you have high volume environments. Where volatility is still low. You rarely see a volatility increase and low volume.

It can happen. I know of a couple circumstances, but that's not something i would ever be betting on, and the the computer share thing that that's more of just like uh. I mean the evidence i've seen of through talking some with some people about. It is, if anything it helps cut down on ftds, which is a good thing, but in terms of apes like it'd, be it makes you like super like non-agile like it's.

It's not that easy to get like in and out um. So if, if the timing of your, if you want to be very very mobile in your positions, computer share is not for you. Uh zack morris is a furu on twitter, uh pumpkin, oh yeah. I don't know who that is uh i i guess i could look him up really quick zach morris uh.

He has a big account, he's pumping weeble, though so uh. I guess he doesn't really care about uh payment for order flow. It's not like one of his fights, so he is, he seems like someone who's in the stock world, but not necessarily an ape, so he might have good plays like i guess you could learn. I i just don't know anything about him.

I haven't seen this account. So i don't really have any opinion. No no opinion there. All right.

Where are we at? Where are we at? What's this trend going to be, is this spot i'm just watching the spy in the russell to see if they're actually like it looks like they're starting to chop like they had the direct sell off and now some buyers are messing around with it and i'm just Curious uh what this will actually lead to all right. Are we gon na get some buyers? That's the golden question, folks. That is the golden question. Amc currently at 37.74, jimmy at 186 we're seeing a lot of stocks getting hit folks a lot of stocks getting hit right now, all right.

What do we have going on? What is the russell doing, just being sold off, sold off we're just seeing a sea of selling a sea of selling? All right, i very much would prefer that tesla comes back around, so i don't start off my unsafe relationship with it. This quickly, this poorly this quickly all right. What else do we have what questions uh? What do you think of irnt? I know this is not financial advice. I rnt irnt, hey okay, so it popped up base popped up, sold off, it looks like it might be.

Basing right now um, so i would be kind of interested to pay attention to see if it gets back above whatever. This high is on the 23rd 29 45-ish. If it can recapture that and you're okay with risking 23 and a half uh, it might be gearing up for another scenario like we saw before it shoots up at bases it shoots up at bases. I wonder if this is just a base to another shoot up and you don't know, but that's what you're playing like the odds on and like that's, why you just have to keep your risk and reward in check uh.

What was this uh hi matt? I feel like we always had time target for amc, but no more. What's your best guess things, we've never had a time target uh some people have tried to put time targets on it, and literally every single one who has been has been wrong. Not a single person who has called out a time frame on amc or jamie has actually been correct, uh. So i like, when, when the odds are per like a perfect inaccuracy like a 100 inaccuracy of calling time, what like what what's the point in even doing it anymore, then all right are we seeing a bit of the bounce in the spy? All right are some buyers stepping in i'm just closely watching these guys right now to really see what we have going on.

Nakd is running um. It is up 12. That is awesome, like i said, i'm not in nakd, i'm not the biggest fan of it, but if you're in it that's a huge congrats, you are very much watching a dollar watch a dollar and then maybe watch a dollar 10 and then a dollar. Forty uh lots of strength right here.

It's it's fighting against the grain with the overall market. Like i said uh, i i wasn't the biggest fan of it, i'm still not the fan of it but like like, i can at least do technicals for you and congratulate all of you on an awesome trade. I have a specific set of rules that i i just i'm gon na follow and does that mean that i'm gon na miss out on awesome opportunities? Yes, but also over enough times it like it protects me from myself. That's what your trading rules do.

I have found over the long time frame your rules, protect you from yourself and nakd. It violates multiple of my rules, so i'm not trading it, but obviously a lot of people are and that's exactly why it's up 58 in a week, and i hope that if you're listening right now, i hope you got a chunk of that um. I wouldn't chase it, i'm not gon na chase it, but if you're in it seriously that's a great trade like i, you made awesome money and i hope you continue to make more money thoughts on atr and why i was banned from discord. Didn't do anything literally kyle there's been no bannings from discord, so it sounds like a tech issue, or maybe i don't know, is there a mess up in like the patreon, but i mean i'm the one in control of bannings and there's been no bannings uh.


22 thoughts on “Ep 88 amc, gamestop crypto: oh brother dumb money w/ matt”
  1. Avataaar/Circle Created with python_avatars dexter9957 says:

    I appreciate this video mate. I watch them and they are meaningful๐Ÿš€and love your content, most people don't understand the concept OF "buying the dip" buying the dip is all about buying digital assets when their price are down and selling off when the price rise. Holding is great, Trading is far more profitable. I was able to grasp the knowledge of trading crypto assets early enough, but I was still limited due to my lack of technical understanding of how to analyze the digital market, all change when I encountered an exper Mr Henry Davidson . I must confess it was easier for me to understand with his assistance that he made me 5.2BTC. if you want any assist on crypto.๐Ÿ‘‡

  2. Avataaar/Circle Created with python_avatars K Investors says:

    CYBL otc stocks get in or get left ๐Ÿš€๐Ÿš€๐Ÿš€donโ€™t miss out

  3. Avataaar/Circle Created with python_avatars Anthony Nicholas says:

    <Awesome post I must say . Crypto is moving with little sign of stopping throughout the past few days and weeks , with movements reaching a clear impasse , the aggregated cryptocurrency market has been following in Btcoin's lead and is struggling to garner any decisive momentum . One analyst is now noting that BTC has been holding above a key macro level throughout the past few months.I appreciate the honesty / the most you tubers this days is only up to the Moon / funny part is that nobody is talking or taking in consideration of what's happening around us !!!!! / stock market , delta variant , inflation and so on ; leave alone of how bitcoin perform before in the same situation in the past . What's best to do now is to trade with pro trader Manson Williams as to stack up more even in this periodz

  4. Avataaar/Circle Created with python_avatars 67cccc says:

    so muchfor his prediction for AMC.. no squeeze.. nothing ..he's lied about everything about AMC

  5. Avataaar/Circle Created with python_avatars Teresa von Riegen's Kitchen says:

    Someone should start a national Ape March!

  6. Avataaar/Circle Created with python_avatars Jim Ernst says:

    At 8am Pacific time. Think or Swim Platform on the one minute chart are now showing Gap downs when a Darck Pool dumps a Block trade on the Market. I have never seen this in the past. This is a big change if it is true.

  7. Avataaar/Circle Created with python_avatars ron young says:

    Turns out Ken doesnโ€™t like losing billions of dollars to the point he directed Robinhood to PCO GME so he could short it to regain his losses. Cheating when your rich is really just called being smart๐Ÿคช

  8. Avataaar/Circle Created with python_avatars APESVSWALLSTREET says:

    What a coincidence all this has been happening there has been no lie but that doesn't stop Citadel from taking advantage of this opportunity by telling people not to buy GME or AMC I do not understand why people are saying this is not a good time to buy AMC or GME they're at low prices right now yes they may go lower but it's lower than what you got it at before which was higher than 40 / 50

  9. Avataaar/Circle Created with python_avatars James Nicholas says:

    You, Matt and everyone should check out David Marino Jr. videos.. stumbled upon it. He's a new channel with crazy TA that makes things make so much sense.. I think he definitely needs some more eyes.

  10. Avataaar/Circle Created with python_avatars Mark Jordan says:

    Iโ€™ve lost so much on AMC right now I just want to hear one day โ€œ if youโ€™re in it, congratulationsโ€.

  11. Avataaar/Circle Created with python_avatars Lawernce Beyer says:

    No sense going over this shit nothing is going to happen to them .they are as corrupt as the house and Senate along with the scc

  12. Avataaar/Circle Created with python_avatars Hannah Melchor says:

    <If there is one thing I have learned in recent months it is to remain calm, especially when it comes to investments in cryptocurrencies. Learn not to sell in a panic when everything goes down and not to buy in euphoria when everything goes up. I advise y'all to forget predictions and start making a good profit now because future valuations are all speculations and guesses.The market is very unstable and you can not tell if it's going bearish or bullish.While myself and others are trad! N without fear of making a loss others are being patient for the price to skyrocket. It all depends on the pattern you follow. I was able to make 6.5BTC from 2.4 BTC in just August from implementing trades with tips and info from Levi Shaw……..

  13. Avataaar/Circle Created with python_avatars James Trybalski says:

    People will be kicking themselves in few weeks if they miss the opportunity to buy and invest in Crypto as it's retracing….BE WISE

  14. Avataaar/Circle Created with python_avatars Nano Saltwater Reefer says:


  15. Avataaar/Circle Created with python_avatars Robert Singleton says:

    Check out GTE guys looking like the next CEI imo

  16. Avataaar/Circle Created with python_avatars Ss Aaa says:

    This sucks ๐Ÿ˜‚

  17. Avataaar/Circle Created with python_avatars apeshit clothing says:


  18. Avataaar/Circle Created with python_avatars Steve martinez says:

    Muh muh muh muh mooooooonnn gaaaanggg lol

  19. Avataaar/Circle Created with python_avatars Nano Saltwater Reefer says:

    Buy the dip!

  20. Avataaar/Circle Created with python_avatars Nano Saltwater Reefer says:

    Who buying?

  21. Avataaar/Circle Created with python_avatars Lucuiana Bryan says:

    I enjoyed your video, I am actually tired of worrying about stocks and stuffsโ€ฆ its driving me nuts these days, I think cryptocurrency investment is far better than stocks

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