Buy The Dip?!
Dumb Money w/ Matt Ep. 90
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Foreign, hello, hello, hello, whoa, there partner, we are zoomed out all right. Let me get connected to nasa here, so we can all talk with each other. Oh, that is that's sounding good. That's crisp! That's some crisp audio right! There, hello, hello, hello, hello! I hope everyone is having a fantastic.

What is it wednesday september 29th? I don't know if it's your morning evening afternoon night. I have no idea what time it is, but i hope you're having an absolutely fantastic one. Of course, it's another b-e-a-u day to be in ape, as i tweeted out this morning good morning to everyone who isn't trying to gaslight the entire retail trading public. I find it absolutely insane, of course, of course, of course, of course, i'm referring to, i i i think they're just melting down over there at citadel, i mean it's.

If you have not checked out the citadel twitter page, it is the best by far the best entertainment i think i've had this entire year. I was losing my mind last night um when i was reading through it. So i want to dive into that, but quickly. Let's just go over some other things, so we all have a little bit of a foundation for today, so nasdaq set to rebound from the 2.8 drop as bond yields.

Moderate. So really remember, as bond yields go up as the yield goes up, bonds themselves go down and there's a couple things to really weigh out there. But typically, when you have these high growth stocks, when this scenario happens, yields up bonds down uh it does make. I guess that yield going up it kind of makes that more of an interesting investment, and then you end up seeing some money pull out of high growth things such as these tech stocks, hence the nasdaq just so you can start piecing that a little bit together In your own, mind, biden digs in on a 3.5 trillion plan is shut down in debt default loom, so he met with two holdouts the democrats.

Yesterday, progress on the democrats budget measure could determine when the house votes and the senate passed the 1 trillion infrastructure bill. Also hanging in the balance is the immediate need to refund the federal government beyond thursday's physical year end to avoid shutdown and to raise the nation's debt ceiling in coming weeks to avoid a default. So that's tomorrow, today is wednesday. Tomorrow's thursday, that's the physical year end to avoid the shutdown and then also we know that the treasury secretary, janet yellen, has been calling out.

I believe, october 18th of hey, hey guys. We need to figure out this debt thing because uh it could lead to what they refer to as a calamity. Nearly 600 united employees face termination over covet vaccine mandate. That's pretty straightforward.

Lucid begins production of its flagship air sedan ahead of customer deliveries. This is kind of cool. I know we've been talking about lucid a little bit, so i want to dive a bit more into this one but congrats. If you're in lucid, basically elon musk says u.s government should avoid regulating cryptocurrencies.
I thought this was pretty funny. It is not possible to, i think, destroy crypto, but it is possible for the government to slow down its advancement, and this was at a code conference yesterday. So that's just a little bit of what's going on in the world. Speaking of lucid, though, i want to dive into this lucid plans to deliver its first electric luxury sedans in late october, so basically, one month after kicking off production of its arizona factory.

On tuesday yesterday lucid says, his vehicles will have a greater driving range than comparable cars from its rival tesla, and, if you look into it, it's not just a little bit drive better driving range. Lucid is coming in with some serious improvement on driving range and, to my understanding, that's like one of the biggest, i guess qualms that the public has with um electric vehicles. It's just like. Okay, like is this close like? How often do i have to recharge? How? What's the speed of recharging so right here, lucid coming out with higher end luxury electric vehicles and also very very impressive, driving range um, as when this was written, it was up.

7.2 percent in pre-market hang on how's it doing right now, it's up 6.7, but right now lucid, looking strong if you're playing lucid, it gets really interesting between 28 and 30., especially on that breakout of 30. This thing uh eventually one of these days. I think it's going to take some time, but lucid does have a gap-fill opportunity. All the way up to 56., just to clarify, i do think lucid will hold that, but i also think it's going to take it's not going to happen overnight.

I do believe it's going to take some time so congrats, if you're in lucid, big fan of the ev sector, myself um, i think lucid and tesla - are two of my favorite manufacturing players. In fact, they are my favorite before it was le tesla and neo, but now with political tensions between the u.s and china, neo's gone to my third spot in terms of electric vehicle manufacturers and i'm not talking about any of the upstream or downstream ones on that. So tesla and lucid, probably my go-to manufacturers for the ev sector uh, i think most of the the well-known ev plays, will be strong, strong plays for the remainder of the decade. Oh, and just so you know this - i don't know netflix netflix a little bit over the overcross netflix is doing well, but uh kind of an interesting move.

They bought out a video game maker, i've never heard of night school studio, but netflix going for a little different diversification. There um buying a video game maker and nflx netflix is up on that news. All right. A little bit different unusual wales, the sec just made some new changes to hedge funds, among them to disclose how they vote on executive pay include mandates for investors to provide more details about how share lending affects proxy voting and to make certain reports uh machine, readable.
So right there just shout outs, unusual whales, just i'm. I mean obviously right here we're very much into the world of talking about what hedge funds are doing and not doing uh. So just a little update there, but uh just for a point of comedy before we get into some of the citadel. Did they block me citadel? What would it be securities? Did i get blocked by citadel shoot, shoo shoo nope? I didn't okay, so citadel securities having an absolute meltdown.

What is their actual tag at sit? Securities is their tag uh this this is just fascinating yeah. I almost i need to follow them be like this is by far the best entertainment i have had all year. This is so fascinating, so for those of you who don't know what's been going on uh, i'm assuming if you're tuning into this, you have a kind of an overall understanding of citadel securities biggest market maker, we're starting to know some uh strange conflicts of interest between Some popular retail and brokerages and their connections with citadel security is right here so anyway, they have not used their twitter in about nine months september september. Okay, so it went from january right here not that many posts ago and you just scroll up january january and then september, so they didn't use it and right out of the gate.

Citadel securities did not ask robinhood or any other firm, to restrict or limit its trading activity on january 27th. The more i thought about this. Why why specifically say on january 27th? Why can't you just say citadel securities did not ask robinhood or any other firm to restrict or limit its trading activity. Um like the fact that they had to clarify on a very specific date, like hey in that 24 hour period.

We didn't do it and at first i was like okay. This is like kind of it had that vibe of like okay. We see this big pr nightmare, that's going on and uh we're gon na try to get ahead of it, and it looks like there's a lot of legalese talk in this. It feels like every word was carefully combed over and and this made sense i was like all right.

That's like what a company in their situation could do. I mean i thought it was a bad decision, but like it still made sense, and then it got just so much better like at this point. They just let their intern from the insane asylum completely run this um. So ken griffin, i guess, had a discussion with bloomberg and the one interesting quote was: it must frustrate the conspiracy theorists to know and that vlad and i have never texted called or met each other, but i must say kudos to vlad and his team at robinhood.

For their remarkable success story, uh to me very, very strange, because if anyone out there ever ever ever finds a little shred of evidence that connects this like, why put these quotes out there that are like seemingly, could be disproved pretty easily uh. But as soon as there's a little shred of evidence, he said i've never texted called or met man. If someone shows a little bit of proof and remember, the government did take vlad's phone um he's putting these quotes out there. It seems dangerous, but it really does not stop there.
Uh there are those who still refuse to believe an american landed on the moon, internet, conspiracists and twitter mobs try to ignore the facts, but the facts is that citadel securities was the preeminent market maker to the retail brokerage community in january 2021.. Uh. For various reasons. This is a very, very bad thing to brag about if anything, they're highlighting that, like we're so good, we essentially in january, had a monopoly, and i would argue that outside of january, it's always been basically a duopoly between citadel securities and virtue.

They have a lot of un like uncontrolled, untapped un, unchecked power um right here, even coming back to like. Oh, we didn't ask robin hood. We totally didn't ask robin hood to pco uh position close only order, amc and jimmy back in january. They might not necessarily have to right here.

They admitted it themselves that would they say they are the preeminent douchebag to the retail brokerage community preeminent um. That means they have a lot of power in the sense that they could reach out to these brokerages and they're. Like you know what we're not going to do payment for order flow anymore, unless you like kind of help us out they they it's not. I mean this would be kind of an interesting legal case of how it would and wouldn't be argued.

But this is a lot of unchecked power over all the brokerages they deal with, because the brokerages they deal with citadel securities represents a huge chunk of the pie of that brokerage's revenue, because they're the one engaging in payment for order flow um. It's it's crazy and then they like obviously went on this tirade uh. I honestly think it was one of my best tweets ever um this one. I was giggling like a little school girl when i was making this uh, because just right here there are those who still refuse to believe in american landed on the moon and then my thumbnail creator.

We already had this going so i just slapped on this text. Um, i've never laughed harder at one of my own tweets and honestly, that's kind of how i view my social media in general, like if it makes me, laugh i'm gon na, throw it out there um, but yeah uh worthwhile to read because you you can sense. The meltdown that is happening um. What else do they? Conspiracy, theorists and plaintiffs? Lawyers are trying to concoct an absurd story from regular way communications among citizens, securities, that brokers who handle orders for retail investors.

Of course, the teams at citizens, securities and our counterparties are in constant communication to meet the needs of the retail investor community. This is well known. I posted that video yesterday it was like i had that out there um, like i mean ken griffin said of that himself like this, is like he said that in the not the deposition, but that, like the government meeting back in february, against the backdrop of a Global pandemic, amid an unprecedented surge in retail training engagement, our respective teams made sure that operational demands were addressing that the retail investors had access to citadel security, superior execution capabilities. Um interesting, i don't know if this is the right adjective superior execution capabilities uh i i would have definitely gone with a different adjective there and it seems like a lot of people who truly know about stock market.
Plumbing would have also gone with a different adjective but uh, of course, they're. The ones writing their own narrative, crazy, crazy, crazy, crazy. Some of this stuff, it's uh. What is this youtube, is banning uh prominent anti-vaccine activists and blocking all anti-vaccine content.

Oh, oh, oh brother. All right, so that's kind of what's going on with citadel, we got the wrap up on the day. Now, let's dive into amc gme. Let's give you guys some of the info that you need so amc they've already borrowed 229 000 shares against it.

This is another record high short interest: 20.96 short interest against amc utilization, 87.87 percent shares on loan 116 million, so the shares on loan and the utilization are not at max values. But the short interest is at a max value and remember what this is. A high short interest is in no way indicative of it has to squeeze it's saying that if it does squeeze it it just as this goes up, the ceiling goes higher and higher and higher of where the squeeze could actually go, because it's just more. It's more gun powder in the keg of the this overall explosion.

It represents the potential amount of a mass amount of buying error, as these shorts are squeezed out of their position in terms of gamestop, they borrowed 166 000 against it short interest just below 15. This is obviously not a record. I mean gamestop short interest was insanely high in january of this year, but recently we're definitely trending back upwards utilization. 36 shares on loan now above uh 8.5 we're at 8.6 million uh.

So the shares on loan and the short interest in gme slowly but surely over the past two weeks, definitely is every day kind of um. I guess playing a little leapfrog higher and higher and higher. I see quite a few people already asking about ater this morning. So let me just give you that uh, we'll just try to get some good data out there for everyone.

Listening a tyrion, a tyrian and tyrion and tyrion uh they've, already borrowed 384 000 shares this morning. The short interest is just over 30 utilization. 96 shares on loan 17.27 million and a very high cost of borrow of, let's just call it 220 percent uh. So those are the numbers for people who are asking about a tyrion.
What's the stock doing uh pre-market we're right at this important level uh. So if we zoom in here, let me go to the two hour on this one. So, as i had on that daily chart, we had the line where it's at basically right now, and also this is kind of the key area for me that i would personally care about just to clarify. I do not have an a tyrion position, but this is the line.

I would definitely care about. Uh 11 20-ish, ish, ish uh, remember just to go a cent above ascent below that's, not actually breakout or breakdown. You want some volume you want it to close above or below. That's the definition of a breakout breakdown, not just like one cent and popped and then came right there uh, but we have some previous support resistance support support.

So these low 11s are very important for ater. I would be watching it um, especially because, like when you put that together so like, i said, support resistance support and also this trend line that was formed from the end of august. To basically mid-september i'd be watching this very very closely to see if the demand comes through, if it does, the next thing i would watch is 11 or excuse me, 13 25, in the follow through after that. So those are the people asking about ater, but let's switch it over to some of the stars of the show.

So the low 37s basically were amc is at right now, currently trading at 37, 10. resistance support support resistance resistance, some consolidation - this is we're at right. Now, um, it's! If you go to any, i guess two hour four hour whatever you want. The rsi.

The relative strength index is incredibly oversold. These technicals are blown out and to me from a technical perspective. The way i would interpret that is, okay, there's a better statistical chance of buyers stepping in at this level, just because it's a reversion play and then on top of that we're at this level. So technically we're oversold we're at some support.

I don't know i i'm feeling a little bit optimistic, maybe i'm being naively optimistic on the day but uh. I i just see the technicals are so incredibly oversold that i i'm expecting a bit of a reversion. I'm just saying even people who aren't necessarily in the ape community just saying hang on this thing is beaten down way too quickly and too short of a time period. So i would love to see some buyers step in rsi clearly in the oversold territory.

So i'm looking for these low 37s to hold, and i would love to see this push um, like obviously the closer to 40 better, but i'm still on the daily time frame. Looking for this gap fill up to 44 20, which was from september 17th over the past about week week and a half a lot of individual stocks, amc gme and like a host of other ones, have been beaten down just because of what's going on in the Market, like we've, seen the s p 500 selling off we've seen the nasdaq 100 selling off the russell 2000 a little bit stronger, but still got hit yesterday. So for us, the fact that the russell 2000 is holding on kind of um the best. Let's call it that is good, because amc is the biggest sock within it uh, but keep in mind that the movements we've been seeing lately has not really been anything to do with one individual stock.
There's just all these external pressures on the overall stock market, and obviously that is damaging to individual stocks. It seems like the only clear sector. That's been getting away recently. Kind of like unscathed is more of the energy sector and that's why a lot of people have been excited about things such as cei.

I mean the oil and gas in the energy sector. Right now has been doing very, very well recently uh. So, if you're in that, like obviously you're up quite a bit of money, congratulations in terms of gme. This support right here, i'm watching from september 9th.

This is the support from the right after the earnings announcement. The last time we were at this level. It kind of opened up there and just shot up, i'm hoping that that happens again. We'd love to see the breakout of 188 190 and after that, i'm watching 200..

Remember recently, some of the gme selling pressure is coming from the fact that the shorts are definitely gearing up. We have a higher and higher short interest for the short interest to go up. That means more and more people are selling against the stock and obviously we're seeing that exactly in the price action uh. So, in a certain sense, we we need the current demand to overwhelm the current supply, because that has not really been happening on gme ever since september 17th.

So we're looking to uh, i guess in a certain sense buck the current trend and pull that like kind of whip of the u-turn and see what we can kind of get going from there uh, but we're gon na have a much better idea of. What's going on in the market today in what about 10 minutes, i want to see how things open up and how the markets are just really really like. I guess thinking it's just. This is so political right now in the sense of what is going on with the debt ceiling um.

So if there's some major announcement look for that to clearly sway stocks like, and it could happen today in the sense of like hey, we figured it out. We passed this or, like there's, been good development um. I truly think, especially the s. P 500 is kind of teetering of just on the news of like okay.

Are we gon na fix the debt ceiling or not? I don't know when this will happen, but at some point or another i feel strongly that this gap fill on the spy up to 441.90 will be a very nice easy layup of the trade uh. I like this gap, fill for the nasdaq same thing. Uh hang on, is it gon na switch over um? Oh wait. I didn't realize that the gap hang on.
I don't know this wick was here yesterday. I thought there was a nice gap up to 360 73. I guess i'd already filled it and i know iwm doesn't have a gap so out of those indices. Unless this is a weird misprint um, it seems like the, which is the most major indices uh still liking.

This gap build when we see some buyers actually step in. When i see a little bit of momentum, some macd crossover in those middle time frames i'll get pretty excited about this gap fill so it's on my radar, i'm not engaging in it yet and when i start to see some momentum, obviously i'll, let you know my Own opinion, but these are just my own opinions, i'm not a financial advisor, i'm not a lawyer, i'm just sharing my own opinions, my own thought process. I might be right, i might be wrong. Sometimes i get things right.

Sometimes i get things wrong: i'm not a person who's like a buy signal, sell signal. I would feel uncomfortable because i'm not like some perfect trader. Far from it, i make i make good trades. I make very very bad trades it.

It happens both ways so because of that, i would not say anything that i say should ever ever ever be interpreted as a buy or sell signal. More of just like a stock market commentary and a person who likes to make fun of whatever the hell is going on over there at citadel in terms of crypto still really not doing. Much actually, in fact, has it seems seemingly going over since september 20th. I would argue over the past 10 days, just not much movement, just kind of sideways sideways uh goes up, a little bit comes down a little bit and that's what we're seeing in all these major cryptos, the sell-off the more recent one that happened about five days Ago was prompted by china reiterating that crypto transactions are illegal.

This is in no way new news uh. This is something we've all known about the amount of times that the people's. What's it the people's bank of china pboc has said that is like it's crazy, uh and every single time. People are still still reacting to it time and time again, which i just don't get.

Why? Because they just reiterate the exact same statement um. I find it to be a bit confusing, but that's kind of what's going on with crypto, not a nice trend right now, just a sideways grind and we have to wait for the consolidation period to end all right. So here we are all right. Amc 3724, gme 180.

The spy is just below 435 and iwm is hanging out at 222.. Uh. Can you? Can you citadel, please not sure what that means, but i, like the sound of it everything's sitting on 21 week kind of scary yeah right now, it's become a very obvious risk off environment where people are just kind of waiting to see they're like all right like What is or isn't happening, and i think um yeah - i did title it by the dip. This is these.

Are those opportunities when you think see things selling off you wait, you wait, you wait and you look for that bend back around and that's the good opportunity to get in, because your risk is close if you're wrong and it starts like if it was like kind Of a fake out, and then it just goes, you cut your loss very very quickly, but if you're right, you took a small risk bet for potentially you're recapturing the push all the way back upwards, but uh right now. This is, unless you have those like. I guess, if you're fortunate, to have those political insights, we're just kind of waiting, we're gon na, be wait and wait and wait and to see what is or is not happening with really the debt ceiling. So if, if you're a person, who's tracking the overall market, that's, i would argue the news you want to be up on, and you also should probably be watching the yields and the bond market to see what's going on, especially if you're, like a tech investor like Myself something to pay attention to all right.
What else do we have a chart? Sorry we have that i'm seeing if there's any big questions on the day before we get going there, they're new leaks, implying citadel had direct contact with robin hood. I don't know if i saw those leaks yet has not come up on my radar uh. I wouldn't be surprised if they exist um. I man it has to be so insane absurdly insane to be a lawyer right now at citadel.

They have to just be screaming. Like please stop tweeting, please stop saying whatever you're saying i i feel like they're, just digging themselves into a hole. What is this uh? The walton's, the richest family in the world, invests almost entirely in low-cost etfs, but you still think you can beat the market source business uh, so the waltons uh. They are big, i guess - into uh the vanguard, etfs, emerging markets, vwo treasury, vgsh, small cap uh - that that's for us i mean the small cap, that's where they're going to own some of their amc at vb wow, the walton's playing the etfs um.

So for those of you who don't know what in etf etf stands for exchange, traded fun and i would say the best way to think about that think of a a basket of stocks. So you invest in the basket and you get a percentage of proportionate exposure to everything within the said basket. So that's actually what the spy is right here. The spy is an etf, it's it's a basket of 500 of the biggest companies in the world and you get a percentage exposure to all the things in the basket.

Iwm is another etf. This one is 2 000 small cap stocks uh, you have very, very popular ones. The nasdaq 100 is another one. This one has a little bit more of a tech focus, it's just another basket, and you just buy that like uh, if you buy a normal stock like amc gme, you most likely are going to have exposure or the ability to buy and or sell these etfs.

Some of my favorite etfs that don't represent an overall index. I do man, some of my favorite ones recently over the past year or two having kathy woods, uh arc in best ones like a r k, w q, uh, f g um, all of those ones. Ah, but she she's breaking my heart lately, she she's been loading up on more and more robin hood, and i just i don't know it's just. It is truly breaking my heart.
I don't know what she's doing over there, but i guess she sees an opportunity. I don't know why, but um it's probably one of the first times that i've like majorly disagreed with, like some of the things she's doing and as if that matters she's, probably a multi-millionaire billionaire investor and i'm a person who sits and yells at a camera. In my basement, so i highly doubt she cares about my opinion um, so those are good ones, especially. I, like the one that tracks the ev sector um, but she also has generic like internet she's, she's a she's, a person who invests in companies that she believes will disrupt an entire industry.

So i kind of like that as a thesis uh other interesting ones. I'm a fan of the marinara industry, so you could track that with mj like mary jane another one, uh esports. I think that's a good one that etf there's many etfs that track all these industries. These are just some of the ones that come to the top of my mind.

Uh is e-s-p-o-e-s-p-o. That's one for the e-sports industry, i'm trying to think of some other ones. Um there there's so many etfs out there. If you can think of an industry, you could just search etf like that tracks, whatever industry and there's most likely going to be one semiconductors.

That's a hot discussion right now, because there's such an incredible shortage semiconductors are those processing chips, gpus so think, nvidia, intel amd and all those one that tracks that industry is smh. That's a semiconductor industry etf a lot of these times, especially if you find yourself you're, like hang on, i like the market, but i i can't i i don't have the time in my life to track individual stocks or something like that. Etfs might be the way for you to go because if you're, like hang on, i like this industry, but i don't really have the time to like research, all the individual stocks that like represent this industry. Well, if you're feeling good about it, you could just buy an etf that represents the industry like easy, peasy, lemon squeezy, all right uh.

What else do we have morning? Matt thanks for stopping by last night. This game is insane micah shout out yeah, so uh new world released and actually what i was learning from micah's uh stream is that they were actually having some like server overload issues as in it was so popular, so many people were gone, trying to get on Which i just find to be comical because amazon, which owns aws amazon web services, is like kind of one of the like when you think of servers and spinning up and handling an entire, i guess, like a huge popularity load, i mean that's kind of what aws Is known for uh in my previous experience of coding when we need to like scale up to like handle a bigger database or anything like that, basically hindering any big popularity load like aws is kind of known to be like it's super easy. You just like scale up you're like okay. I need more people are here right now.
I need to scale up and the fact that they had their own scaling. Issues just tells me like how, absurdly popular that game had to be like insane, truly insane. Oh whoa whoa whoa, whoa, ding, ding ding, the casino is open. Time flies when you're having fun all right.

Let's see how we're going today, let's see how we are going today, all right. Let me go to the spy over here all right. Let's see how people are going to be jocking for position this morning, recently, amc and jimmy have both uh. I mean you guys are well aware that they've had low volatility, but also very very low volume uh, i'm looking for that to like finally change looking for some opportunities, uh to just see where, like uh, that the market is once again like re-energized for these types Of trades and uh, enthusiasm and part of the reason, i don't think this is exclusively the reason.

I think some of the reason why the volume and volatility is down in amc and jimmy, i would argue relates to people - are like really paying attention to the overall market. Right now i think they're, saying okay, like what's going on with the market and um. I i would assume that kind of, like the political tensions and the political developments are, in a certain sense, uh kind of distracting people from individual stocks at the moment. Uh, but obviously, all that stuff can j change on a dime change on a dime all right.

So i see the spy is going up interesting, so the spy is going up. Russell 2000 is going down how's the nasdaq going right now. The nasdaq is going up interesting, interesting, interesting, all right when things start to develop we'll recheck the short interest we'll see. What's going on there uh, we could check the flow on unusual whales.

Around 10 30. We can see where the the plays are coming in on tibio. If there's any news, uh white house advisor bernstein says us default is not an option: all right, no fda, liens towards authorizing modernity, booster at a half dose bloomberg last night. So that's some modern news.

If anyone's been paying attention to that stock, all right all right! All right there we go i'm seeing a little bit of green right now, uh for in terms of amc, specifically uh, i'm definitely watching. What's going on with the russell, i want all this really. What you want is everything on the screen to go green. At this point, most likely unless you're, just like the citadel intern who's like forced to watch me basically uh.

What was your favorite tech stock? When you were software engineer, did you concentrate on oh tech? Stack? Sorry uh? Did you concentrate on front or back end, or were you full stack, so my career um? I started off as back end to learn about that stuff. That's just kind of like arbitrarily the the position i was put in and then my most recent job. I was doing more of the front end and kind of ended up with my back end experience thing: uh pivoting, like still i mean it, was a startup, so you end up wearing multiple hats, so probably more a full stack, but near the end, i really was Enjoying the react framework, it was just something new to me um, so i did like that uh great morning matt and ape fam thoughts on cei on a 16 hour shift tried tired of working from the man. Let's squeeze so cei has been looking very, very strong and it looks for like to me.
The entry was back here at 170, but the sector, the oil and gas production sector is just pushing pushing pushing so if you're in it, i see no reason to really get out of it right now, because the trend is so obviously favoring. You um, i see no reason whatsoever to really get out the trends. Your friend, you cut your losers quickly and you let your winners ride and it's cei. It's really not showing signs of slowing down, in my opinion, uh just flex and flex and flex it all right.

So the spy was going up, got smacked, iwm was going up, no actually iwm was never going up. We've actually just had four red bars, i'm just seeing if we can see some buyers finally step in like where are we at? Where are we at buyers? I guess they slept in today kind of like a a midweek hump day. I guess maybe they're sleeping in for an extra 15 minutes or something where are they buyers? I guess all right. Let's look at some of the bigger picture stuff right here, uh so right here i would say on iwm the russell 2000 we're still kind of watching the support of the mid 220s, so uh 220 60.

So, what's that about 60 cents below where we're currently at the nasdaq 100 in the middle kind of indecisive, the spy? Also in the middle kind of like we just have these inside days. Uh remember an inside day is when the high and the low of your current bar are perfectly still within the high and the low of the previous bar. That's why it's called an inside day, because the entire candle is fully inside the previous candle um. In terms of inside uprange, downrange and outside, i believe the last time i ran the math on this.

That inside candles are actually the most rare and part of the reason for that is just they're. They have no direction to them like whatsoever. Um, absolutely like. There's there's no trend, there's no direction uh.

So that's why there's like a bit of - i guess, rarity in that um, but on kind of when you take into account what's going on in the overall market right now, it does make a little bit of sense to have an inside day, because people are just Super unsure they don't know how to like, weigh the risk of the current situation, everyone's just kind of like awkwardly waiting between today and tomorrow, to find out about the potential government shutdown all right. Let me just double check this all right now we're starting to see a little bit of a bend around a little bit of a bend around i'm watching the iwm moving average convergence divergence, aka the macd, i'm looking for some buyers to step in, looks like it's Bouncing off of 221 - and hopefully hopefully the spy is bouncing off of 435 right here, but you can see some buyers. So i guess what they waited the first six minutes and now we're seeing a little bit of green a little bit of green coming in a little bit of green amc. 3712..
Look at that! Whoa: okay, okay, okay, i see you, i see you, i see a little bit of green right there uh morning apes tried to send a hello, and i love you guys yesterday, but i guess i must have sent it to manifest abundance today in abundance. Is yours? Shout out kinky kong, i hope you're having a great morning uh. How do you feel about sava so sava brother is a pharma play and i, like the strength, did it actually yeah, so it did do its first gap full. Yesterday, i'm looking for a bit of a continuation into the range i have right here somewhere between.

I guess 66 and 96 i'm expecting to push up the technicals to get too hot for it to take a breather for it to make a new higher low and then to gear up for a move to 115.53. I do like sava for this gap fill play, but with that i still think it's going to take time. This is not going to happen overnight for all. I know it might be a multi-month play, but i do think saab is pushing up and in terms of risk reward, even right here, risking 50 risking 38 like when you consider a potential reward of 115, maybe even higher hey.

I think that's good, but with it i'm always a little bit hesitant about pharmaceuticals. Just because i know that's not my own skill set uh, i'm not that's, not what i've been professionally trained to do. So i don't have the best idea of like okay. This company is gon na make it this company isn't gon na make it.

How important is this test? What's going on with this trial, this placebo the fda here there everywhere that type of a deal so uh, i all trade, pharmaceutical medical supplies biotech plays. If i really really like the chart and i'll try to dive in and learn a little bit more about it, but uh, my my bread and butter is much more of these, like tech plays. Just because, like that's what i know about, and it's i've found that it's a big advantage in trading to trade, what you do know all right, iwm it looked like it - wanted to turn the same with the spy, but then quickly smacked uh, but amc trying to Fight the trend, actually amc had a bounce off of 36.70 up to 37.30, so we're seeing a lot of whippiness at the market. Open amc has currently traded 3.3 million shares and what we're 10 minutes into the day uh.
So it seems like another light volume day. Gme has traded a hundred forty two thousand hundred forty three thousand so definitely a light day on that as well, so amc gme, as of thus far, thus far light volume, light volatility days on both of these moon stocks. All right, let me just fix this. Why? It's just not loading over here.

My apologies, all right now are we are we going to get the cross here? Look at these buyers all right now. We're waking up now we're getting our coffee in our system. Now we're getting the coffee in our system. The secret ingredient is crime, shout out calvin.

I work in market intel and pharma all a dice roll shout out jason, that's kind of how i felt about it. It seemed like a tough pick of like okay. Is this drug gon na get approved, how's the fda? Gon na feel about this that the other thing uh, it seems like it's very, very binary in that world uh your opinion on a 45 strike first of october 47 gamble love the stream uh steve, i'm not exactly sure what stock you're talking about 45 strike. Your opinion on a 45 strike for the 1st of october 47 gamble love this stream um steve.

I like the the praise there. I appreciate that brother, i'm 45 strike first of october 47 gamble um, maybe you're talking about amc steve. I think you're talking about amc on this one um. I think that's a little bit too far out for the first uh.

I i'm not really a fan of playing options, uh for the weekly uh. If you want to play it weekly the times i'll play a weekly option is, if i know i'm day trading it. If i'm like, okay by 4 pm today, i will be out of this trade in that event. Uh i'll do it, but if i'm in any form like swinging it whatever time frame, i think i need for this swing i'll, just double it up.

The biggest issue i see with options is people are playing way way too short of a time frame and they're playing it. When volatility is not uh, favoring them right now. So right now, amc and jimmy are both super low volatility and it's not really showing signs. Yet of it picking up so, i would say like okay, i want to see those signs like.

I want to see the volume return, the volatility returned and then i might be like okay. Is there like an option i like, but for right now, um options like if the volatility is not there, especially if the volatility seems to be getting crushed every single day to me, that's not a good time to be buying options, it's a better time! Well, you can't honestly can't even argue it's the best time to sell, because i mean you can it depends on how you're doing it um that gets into like a little bit of a higher level discussion, brent, roth, becoming an astronaut shout out, amc, jimmy bbig and Atr, look the same algo smh uh honestly ever like this is the russell 2000, the spy amc jamie like everything's. Looking like the overall market, i mean look at gme and the s p 500, almost incredibly similar, like almost spot on uh. So this is this: is a market thing of like how much money is flowing into the stock market? How much is money is flowing out of the stock market just in more of a general sense, a lot of similarities? It looks like the russell and the spy super similar today the spy is going for an intraday low.
Unfortunately, man, where are these buyers at, is something. Is our government saying or doing something today, leslie matt? Can you check or text for ater? Yes, so we did that right before market open. I don't think there's going to be much of a change but happy to give you the update, ater a tyrion. Where are we at uh a trna, insured interest? 30.32 utilization 96 shares on loan 17.27 million.

So, very very high: hey there we go there, we go amc catching that bid pushing 37.45 right, gme, also catching a bid. So it almost looks as if amc and jamie individually are breaking the trend of what we're seeing in the overall market right now, the spy continuing to an intraday low and even the russell looking a bit heavy at the moment, looking a bit heavy all right. Let's start marking some stuff out right there. There we go amc and jimi, they are waking up.

They got their coffee in their system. They got up, they did their stretches, they hit the gym. They went for a little bit of a run and now they're they're uh they're ready for the day they they have their life more put together than i do. Oh speaking, of having your life put together.

Last night i was sitting there thinking about all the things that i should be doing to better my own mental and physical health um. So i ended up on a friend's suggestion. Downloading nume there's a very good chance that you've seen nume already um like on one of their ads, and people refer to it as a diet, app and that, honestly, from what i've seen of it, it seems really really like incorrect. It almost just seems like more like a psychology thing, so i just tried it out and i'm i'm on day one on it.

So if you want noob, there's some sort of free trial uh, i i threw it in the description, but i'm giving it a whirl. Uh, what i've seen so, thus far i've been on it. Like i said for about 24 hours, not even uh, 12 hours seems pretty cool, but it's just i don't know for whatever reason i thought about amc and jimmy getting up together, amy and jimmy getting like getting their runs in today and just kind of really. I don't know, i guess, attacking life taking the life bull by the horns, uh, and i wish i would do that.

I wish i had the uh the ability to get up and run and be like all right guys we're gon na crush it today. I wish i could be one of those people. You know those people that are almost frustrating like they get up and by the time they're at work and they're like i already ran a half marathon like let's go, i ran a half marathon. I took my kids to church, i like built an entire house for habitat humanity, and then it was 7am like i wish i could be one of those people, an entire house like let's go, i'm on it for 12 hours and i've already lost five times about.
Like as soon as i downloaded the app, i felt great, oh man, some of those accounts like the like those hype up things, it's so funny how like over the line. They are used to be the shell of a man and now not have big muscles. Uh new cons are conversations between citadel and robin hood january 28th. Check it out uh.

Where can i check it out? Uh ob ob jabroni uh? Where can i track that down? I'd love to go over it best time to purchase options is when iv percentile is low. You gain most of the money on options on iv. Spikes much further out. Vega is key.

100 uh. The one thing i would add on top of that what you said. I would fully agree with you. Is i like to see the bend background in volatility because volatility i mean i've been in times where i'm like? Oh it's low, no way it can, it can go lower and then i'm like, oh wow iv, just went lower.

So with it, the environment, you want to buy a put or buy a call is in that low volatility and then you're, hoping for, like the second after you purchase for iv to spike. I think a lot of people because we're trained to watch the stocks and what they do you're. Looking for the stock to trend in your direction, which you obviously want to happen when you engage in an options, trade but remember, on top of it, you have to weigh out your time until expiration, as in theta and also volatility. I don't think i think i need to drill this into everyone's head if it isn't already a main thing there options volatility is so incredibly important.

There have been times where i get the call right, i'm like. Oh, it's going to go to this price value by this date, but because of volatility moving against me, i end up losing a lot of money. Uh so like you have to watch volatility, it's so so important. Um options are a derivative class that is far beyond just watching the value of a stock.

You are betting on time and you are also betting on volatility, you're betting, on three separate things, and that's why a lot of people, myself included, will try to always inform you that it's super high risk to high reward, because you're not just simply betting on the Direction of the stock you're betting on the expediency in which it goes in the direction that you think it's going to go in the hedges are all like roaches and aren't going to make their moves. While the lights are on, avert your eyes, texas time. Traveler don't give up matt you're a stonk trader. I need to do something.

I uh i've noticed that i've been working on my what my like growlfit winterbot. Now for about the past year and a half i got a. I got a head start on working on. My what's it back when i used to lift uh in the winter session, and i was like oh i'm like it's, my power belly.
I've been working on my power belly for quite a while. Now lots of power belly not a lot of power um. What's up with janet yellen comment about taxing unrealized capital gains, absolutely not thoughts uh. So i saw those comments and i thought it was.

I mean i just feel like recently between some of our government officials citadel and things like janet yellen. I'm reading more and more things that are just like everything is topping. The dumbest thing. I've ever read: taxing unrealized capital gains is the most absurd.

Asinine thing i've. I can't say ever because, like then, tomorrow or tonight, i'm gon na read another thing and it feels like every day. I'm like this is the dumbest thing ever. This is the dumbest thing i've read.

I am in no way like at all supportive of taxing unrealized capital gains, it's unrealized. If you want to tax, i mean i would argue that the tax on realized capital gains is actually too high and, like i don't even like i'm at that point. In the conversation, no less talking about taxing unrealized capital gains like it's, i'm like whoa whoa. What like, where does that even come into the conversation like it's insane? It's it's absolutely insane.

Uh, the convos between citadel and robin hood are on the front page of super sunk new pages from the lawsuit. Oh, let me check that down. Let me check that down super stonk super stonk super stonk, uh super stonk, okay, you said it's on the front page. Uh, so i'm on uh r, slash super stung.

Okay, boom new leaks from the law case implies citadel were in direct contact with robin hood on the 28th of january regarding restricting the sale of gme. This is what why kenton citadel are so specific about the 27th. On twitter reminder that the buy button was removed on the 28th, not the 27th. Additionally, robin hoods bubba appeared to accept citadel security's proposition made on jim hang on oops.

Well, these aren't leaks. This is from the law. Is this the same law case, the lawsuit that we've been talking about, hang on? Let me find your channel, so we talked about this. Let me just find the lawsuit okay, we have the lawsuit, so it looks like they're referring to number 453.

453. 453. Let me find this in the lawsuit for everyone. Additionally, robin hood's drob drobinic appeared to accept citadel securities proposition made on january 20th.

Wait that i'm confused so so this is on super stock and it's highly upvoted boom new leaks from law case implies citadel, were in direct contact with robin hood on the 28th of january regarding restricting the sale of gme. This is why ken and citadel are so specific about the 27th reminder that the buy button was removed on the 28th, and it looks like they're highlighting this right here. Four hundred and fifty three additionally robin hood's drama nick appeared to accept his to accept citadel security's proposition made on january 20th. I i feel, like i'm missing something: do i need to read more exchange communications, for example, citadel security, someone connected citadel securities blank and to coordinate the narrative in response to january 28th.
I i feel, like i'm still missing something uh in my own mind, am i not like putting something together? I don't know how that is direct con. So we know citadel and robin hood have been talking like that. That's admitted by everybody, like everyone has said that we we get it like. I don't think anyone's disagreeing with that, like even ken griffin on february 18th said in the normal course of business, i mean here i have the exact quote uh.

This is from ken griffin on february 18th, um so congressman we offered to have my colleague who manages that relationship, the relationship between citizens, securities and robin hood, to 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 um, so the the discussion of lying and not lying is it's not do citadel and robin hood talk.

We know they talk. They talk. Probably multiple times every single day throughout the day, the question is: did citadel in any shape, form or manner have influence on robin hood, pcoing, amc and gming uh position close only as in removing the buy button um. So to me and like maybe i'm just like.

Maybe something's going over my head here, the the law case that i just showed you the the robin the reddit thing. I i don't get it i i don't get. How that's proof boom new leaks from law case imply citadel were citadel, was in direct contact with robin hood on the 28th. They were allowed to be in contact with them on the 20th.

Regarding so okay, this is interesting was robinhood and citadel were in contact on the 28th. Regarding the restricting the sale of gme, i don't, if maybe someone could explain this to me. How does this one show that they were in contact on the 28th to restrict the sale of gme? Further high-level employees, community communicated on the 28th, partly to coordinate messaging in response to the restrictions and also to enforce continuing restrictions? Is this it do, they actually mean 455? Is the one further high-level employees communicated after january 28th, partly to coordinate messaging in response to the re? So this is for messaging in response to the restrictions, high-level employees of e-trade and civil exchange communications throughout the 20s to confirm certain orders were canceled, so that one seems weird. But this is like an e-trade thing.

Oh wait! Maybe it's back to 452., so it's just on reddit. They highlighted specifically 453, but it seems like these other ones are a little bit more interesting, for example, high-level executives of citadel securities and robin hood coordinated communications in the weeks before and numerous times the day before the restrictions were ultimately imposed. But this is just still saying that they're talking this is one of those things where to us we're just putting it together of like okay, obviously like how could you not talk about some of this other crazy stuff, but for in terms of a lawyer, i don't Know i'm not a lawyer, so i can't comment on it. I don't know if that's enough for a prosecutor to like run with um, i would have to like get a prosecutor to weigh in on it, and this just seems to be like one of those frustrating things of okay to us.
We're like okay, you're talking you're talking one of the craziest things ever happens. How do you not talk about the position close and getting uh worrying about collateral and what that means for both companies? If i were a betting man which i am a betting man to me, it it seems, like i, don't see a reality in which they weren't actively talking about this, just because of like the insanity of the current situation. But i don't know this is why i'm not a lawyer, because i don't know the specifics of what a lawyer would need or would it need to be? Like hang on, we have the verifiable evidence because remember the onus is on the prosecutor.

24 thoughts on “Ep 90 buy the dip?! dumb money w/ matt”
  1. Avataaar/Circle Created with python_avatars Eddie Simollin says:

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  6. Avataaar/Circle Created with python_avatars larrysdinner says:

    Sad how many dupes didn't know Yellowstain, Bliden and Harryass had taxing unrealized gains in their agenda. Even worse, when you comment on it the shill mods censor you. As I said last year…if you're still a D. in 2020 you're the enemy or willfully ignorant.

  7. Avataaar/Circle Created with python_avatars G Castro says:

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  9. Avataaar/Circle Created with python_avatars Mike Sherrod says:

    All this AMC chat. Did any one notice GROM just busted a nut!

  10. Avataaar/Circle Created with python_avatars sevenfreshh says:

    Only 2 hour livestreams the past 2 weeks cuz he’s only in it for the big green days cuz he makes the most money off us all on the big days.

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    Are we not about AMC anymore?

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    CEI

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