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Dumb Money w/ Matt Ep. 95
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Stop breaking the law we hungry floating, give us the fucking money, throwing my sister's here, my brothers, the fathers and the lovers. We don't need another fan because we huddled through hard times. What's the fucking money wow, we are back at it again daniel what a e a beautiful day to be in eight folks. Look at this market, the s p y iwm, rippin, rippin, rippin amc is still in the green.

Obviously i'm right there with you. I wish we were more green, but hey you to take any green day. You can possibly get amc at a 1.7 percent gain gme trading at 177, which means it's up 0.8 uh. If you're exclusively listening right now and not seeing just so.

You know amc is training at just a little bit below 39 uh. We kind of have this trend line going on, but hey very, very optimistic for the closing session. Today, let's get at it, let's get at it. Folks, it's a friday.

It's a good friday. It's always a good friday. It's always a good day to be an ape. Oh man, i'm a fan of these like the friday, like kind of jam sessions, everyone hey, let's, let's just enjoy, let's enjoy each other's apis company.

Now a couple of things i do want to talk about. First of all, just so you know, crypto is still ripping ripping ripping uh btc pushing 48 000 ethereum. Pushing 3300 hex is looking mighty, fine at 44 cents and even cardano is gearing up at and 25 cents, like all crypto is looking strong right now, i'm i'm excited heading into the weekend in terms of amc. There's a net return of 690 000 shares today on a borrow of 1.33 million short interest is estimated to be 20.5 percent in terms of gamestop they've borrowed 99 000 shares with a net return of 122.

short interest is estimated to be 15.26 in terms of flow To close out the week, bullish bullish for amc to the tune of 52 and gme bullish to the tune of 51.2, so both of them in terms of the options market, the bulls are dominating the day, but not by uh, like an absurd amount. Uh. Let me see if there's anything uh white house says u.s. President joe biden will meet the house democratic caucus about his legislative agenda 3 pm today.

So that's about 55 minutes anything uh governor newsome says children will be required to get vaccinated against coven 19. To come to school mandate will take a effect upon full fda approval. Fin fitch, says u.s homes, price growth to slow majority of us metro errors all right. So nothing too crazy there, but i do want to hop into some fun stuff, so we in new york, we knew that they were trying to fly a different plane.

That said, ken griffin lied and then right there we're not doing it and in fact they did do it and instead it was, i believe, citadel scandal is what officially it ended up saying, but here's the video of it it ended up flying around new york. I believe this is from the hudson side. You can see the freedom tower right there, but here's the plane it did fly. This was just hours ago um.

Actually, this video got posted really like almost like 40 minutes ago, but right there uh. I know it's not the most zoomed in, but here's the ape plane, uh, absolutely hilarious. I i just it's these types of things in the community that just like i don't. How could you just not laugh, it's so so funny so uh shout out to pete for posting this, but then also shout out to kat for really getting this all together and fighting against it uh, i guess it was citadel.

Scandal is what they got going. Uh hilarious, hilarious, hilarious, hilarious, um in the same vein of things that are aren't going on secure. How can you just like not crack up citadel securities, so fascinatingly hilarious? This is just absurdly hilarious, so the most every time they tweet something i just i get as giddy as a little school girl. It truly is so funny how they're choosing to engage in social media, and it just shows me that they're so disconnected, and they don't understand it.

And now we see citadel. The gigantic goliath citadel is basically picking up like its little little cousin, its little brother robinhood. Throwing it right under the bus, so this is from earlier, i guess late last night, but it's worthwhile for everyone to dive into. Let me just run you through it give you the highlights.

It is crystal clear that robin hood, restricted trading in the response to a 3 billion margin call from the nscc, which is a spin-off of the dtcc multiple documents. Statements in contemporaneous communications confirm this, so we know this. We we know that we saw that in the emails, if you've been going through those court documents which, if you want it, i could pin those in the chat um the overall court documents we know it. We know that the email they're like yo three bill, pay up or see you later um.

Here's the email from 5 11 a.m. Eastern on january 20th, alerting robin hood to the 3 billion margin. Call you can act. This is from the court.

Documents like this is literally a screenshot from it right here: deficit three bill, that is, with a b that is a hefty hefty payment. Robin hood ceo testified under oath that the three billion margin call exceeded the amount of net capital on robinhood securities and that led to the imposing trading restriction. So we know about the email. Three billion sec rules prescribed the amount of regulatory net capital that robin hood securities must have, and on january 28th, the amount of the nscc var charge exceeded the amount of net capital at robinhood securities, including the excess net capital maintained by the firm.

So remember with this, like a lot of you might be was saying like hang on like. Why do they need the money if we're the ones buying and selling? And this comes to the fact that, when you're buying on something like many brokerages, including robinhood, you're, not actually buying the security, it's it's robinhood that ends up owning it. It's robin hood that ends up selling it and they own new. I guess maybe this is obviously not legal terms, but it's a very fancy like iou.

So basically you have all these people who, let's, let's create a stock, xyz or moon m-o-n. You have a lot of people in buying it and selling it on that brokerage. Throughout the day, and at the end of the day, they look at the net difference and if there's a net, buy they're gon na go to the actual dtcc and buy the amount they need to or if there's a net sell. They're gon na go and sell.

But it's always on the net position that all the users on that brokerage end up doing so. In this scenario, remember it's at the end of the day. So what happened in reality here - and you could check it out in that article - that was posted beforehand - is so many people were buying. The net position was huge, like they robin had to buy a lot to basically fulfill on all these very fancy ious that they owned to all their customers, and, at that point remember when the stock is moving so much.

You had all these people who are potentially buying early in the day, but when the stock runs so much well they're buying at the end of the day and that they don't have the money to cover all of that um because it could run so much. So many people were doing they, they needed three billion dollars which they actually did not have. Uh, robin hood securities had approximately 696 million already on deposit with the nscc, so the net amount due was approximately 3 billion, because the overall that they needed to show was around 3.7 billion. It was crazy between 6 30 and 7 30 eastern, the robin hood securities operations team, made the decision to impose trading restrictions on gamestop and other securities in conversations with the nscc staff early that morning, robin hood securities notified that the nscc of its intention to implement These restrictions and also informed that the nscc of the margin restrictions that had already been imposed, nscc, initially notified robinhood securities that had reduced the excess capital premium charge by more than half, and just so you know, i don't know if it's actually going to follow up Here but the way they took care of all this is they did a huge capital, raise.

They basically lowered their risk by stopping people from buying, because they didn't have the capital to cover what they needed and remember. They only had about 700 million. They needed 3.7 billion um. So not only did they do a capital raise, but they figured they could cut their risk down by stopping people from buying.

That was their entire methodology of why they pco position closed. Only stocks such as gme and amc anyway, citadel securities, followed up robin hood's president and ceo submitted a sworn declaration in federal court that the trading restrictions were a quote a way to mitigate the sudden increase in the nscc deposit requirements. Remember they needed that nscc deposit requirements that comes back to the whole net position thing at the end of the day. They had money, they had to buy and sell the appropriate amount, and they just simply didn't have the money to do all the buying that really the net position, which was represented by all their individual clients as a way to mitigate the sudden increase in the nscc Deposit requirements, our robinhood securities proposed that the nscc that a temporary measure it would limit customer purchases of certain volatile stocks that had driven the increased deposit requirements.

The dtcc, which remember the nscc, is a subset of the dtcc. The dtcc is the depository trust, clearing corp, that is the overall mechanism, think of the plumbing of at the end of the day, when everyone's suddenly the t2 settlement, it's like okay, this person's, actually the seller, this person's, actually the buyer they connected. This is the organization that actually does like okay, buy or seller like they're they're doing they're the ones like connecting all the yarn wires over a buyer here seller here give the shares to this person, give the money to this person they're the actual one doing the Clearing in the back end - and that's like think of also the t2 clearing, okay, so anyway, shortly after 5 a.m. Eastern time, on thursday, the 28th nscc daily margin statements were released to clearing members.

Many clearing members, whose unsettled portfolios were exposed to volatile meme sucks, saw significant increase in the var charge that derived from the risk posed by increased volume and price volatility in these securities. I do admit, remember it's not just robinhood. There were many many brokerages that did not have enough money with the clearing corp the sub clearing corp, the nscc to they. They couldn't account for all this buying.

Numerous other retail brokerages firms also impose restrictions on the trading of certain stocks due to capital, entrenched liquidity concerns and other commercial reasons. This is very much true like we were reading like i was living this in real time and when it was happening, i wonder if they give a list of everyone who did it. I just thought there would be a quick list here. It doesn't look like it, but it was if you can think of a brokerage.

There's a high static statistical chance that it was actually on the list of people who stopped the buying of amc and jimmy. They simply did not have enough money in the clearing corp to do all the clearing of the stocks and the buying that they needed to do. During this volatile period. Citadel securities was the only major market maker that executed buying sellers for individual investors without limitations uh.

This is very bad uh they're talking about it as if it's as if it's somehow a good thing, so they were clear but remember it's. The brokerages who are clearing through them, like the brokerages, were sending the orders and the brokerages ended up like stopping those buy orders. So i guess in a certain way, they're arguing that only major market maker that ex executed buying sellers for individual investors without limitation. So i guess maybe people were directly connected to the market maker, not going through a brokerage.

They were still doing it, but still the fact that we're relying on one organization that tells me that our overall market system is in a pretty precarious situation. I don't think this is something to brag about, and i just think this is so funny from unusual whales. Holy shit, robin hood and citadel are taking each other out. No one wants to go down with the ship.

The game has started it. It does seem that way like they are gearing up to go full battle and trust me when people ask about wall street and like oh, could they be coordinating to do this that and the other well yeah they can, but when it really comes down to it, Remember, at the end of the day, they care about numero, uno cidadel will do whatever it has to to like kind of wipe its hands clean of this member, and if of this entire situation, i really should say wipe its hands clean of like truly this. This mess, and if for them to do that, if ken griffin needs to completely just decapitate vlad, i truly believe that he will and i'm interested in seeing the continuation of the tactic of this chess match. That citadel is going to play because i think, as we see it, progress they're going to do what they need to, because the public it's an outcry.

Obviously, everyone is crying for some sort of head to roll and i think citadel might be kind of angling itself to make that robin hood and specifically vlad and honestly at this point, speaking of which that the president of robin hood securities, that jim fellow who ended Up selling uh he's gon na probably get in quite a bit of trouble. Uh, remember not breaking. Whenever you see charles gasparino talking about breaking, you could probably pretty much understand that it's already been out for two weeks, but anyway, sources say robin hood believes it's prez. Jim, the guy who sold amc before doing the pco, didn't benefit from the timing, the sale of amc since it later traded higher than his sale price for five dollars during the jan meme stock frenzy.

More now on the sec informants inquiry into the sale from fox business, so this is kind of um. I don't know i don't know bullshit, maybe is the term i'm thinking about um, just because you suck at using insider information and get a bad fill. That still doesn't mean that it's legal um, to my understanding, when you're speaking about legalese and insider training and basically benefiting off a position that you legally shouldn't be benefiting off of it. It doesn't matter if you suck at it.

It doesn't matter if you improperly use it and end up not making more money like so the fact that he's trying to defend it, saying oh, like he only got out at five. It's like what are you talking about. You still abuse your position and made a trade on non-public information that impacted a lot a lot of people, so just because, like you, didn't use it to the best of your ability, like what kind of information is that um? So i just wanted to give you that wrap up there. This story is obviously continuing, but uh.

It's it's heads are gon na roll on this one. I strongly believe that all right, i see a lot of people talking about fox news right now. I believe that they are live with this, so let me bring up fox news myself over here: uh fox news, charles payne, all right we're good. We got it watch tv all right, all right, nope! Stop! Stop! Stop! Stop! Always, let's go watch.

Let me see. Let me see, let me see, let me see why does this take forever to load well had with citadel total mess joining me now, former sec attorney lisa vergaranta of bergansen law lisa, you know all week ken griffin lied, uh trending on social media. You know might have broken some sort of record there. Uh citadel securities in the meantime broke their silence with a series of tweets that i personally don't think helped their cause.

You've had a chance to look at all of this. What's your thoughts thanks charles uh yeah, it's pretty amazing um when you see a big sophisticated company like citadel uh, respond to this kind of criticism. I mean honestly, they stopped listening to their lawyers and started listening to their pr folks and the tweets don't really help. I absolutely agree with you lots of stuff that they're saying is: you know vintage back from january february of this year: um it does not reflect the new information that just came out.

So it's a little puzzling yeah. You know i mean it's and then there's a citadel securities there's citadel the hedge fund. There's you know, there's a lot of ways. You can technically say no, we didn't speak to them because another entity did and they're sort of all under the umbrella of ken griffin, and you know i just think what people are looking for here is just greater transparency.

Uh. You know at this point, since i don't know: do they wait for the case to come to a conclusion. Uh. You know people out there really now say they smell a rat and they think something is wrong.

I i think the information that came out in the most recent uh class action complaint filing was pretty explosive and it's it's an odd thing for for citadel to be saying. You know, first of all that uh you know. Oh, i, ken griffin did not talk with vlad tanf. Oh, who cares? You know you.

The two entities are communicating. We know that now from these communications that have come out and are cited in this new complaint. So now you know it appears that citadel's uh theory is. You know that they're trying to sell everybody in the world on is that, if the dtcc, which is that clearing entity that um you know sets um, can can establish margin, calls and require addition.

Additional margin from brokers since and citadel seems to be saying, since dtcc demanded that uh that robin hood put up an additional three billion dollars to cover its trading, that that absolves citadel completely of any possible wrongdoing, and that just seems ridiculous. You know all decisions made by companies by individuals are the function of a whole lot of information and and to say just because there happens to be this great email from citadel's standpoint, demanding three billion dollars that that's. That does not whitewash everything else. So i think it's going to be really important for the sec and for class action lawyers and, frankly for the public, given that citadel has decided that you know wants to talk about this in the public realm uh.

You know it's important for everyone to be able to see what was the mix of information that robin hood. Had i mean there are all kinds of things that that robin hood was probably considering at that time when you're talking to dtcc and they are telling you you have to put up an additional three billion dollars. I am sure that it's just not an on off switch uh. There's probably you know, there are different things that can happen and, as we saw, they didn't put up three billion dollars, but they did establish.

You know some trading restrictions. Well, what else did they consider? Uh, you know, maybe they chose the trading restrictions because that's good for citadel yeah and that's the and that's the question and you know a lot of people are drawing their own conclusions, but certainly uh. There's there's there's something there right. You know they when they say.

There's uh: if you see smoke, there might be fire uh. You know with these emails and these and these correspondence that now are available to the public. I think it's been a game. Changer, we'll see, always appreciate your legal mind.

It's great to have someone who's with the sec, help us navigate this stuff and hope we can talk to you again real soon. Lisa thanks a lot. Meanwhile senator manchin throwing down the gun, i would absolutely love to have lisa braganaka. I think that's how you say her last name on this show.

So if anyone has those connections um, she seems like, obviously, i think, she's, a lawyer, um obviously involved with the sec and has true expertise in this. So the way we bring on dave lauer to get expertise in the stock market plumbing side of things, i would love to bring her on to get expertise in the legal side of things. So if someone by some weird miracle shot has her connection um, i i've tried to reach out to her um and i guess um, there's probably some way i could get in talks with her, but i think she seems like the person who, like could actually break This down over the course of a half hour, 45 minutes an hour, um right there, like you, could tell she has a lot to say and like getting into it and i think for all of us. It would be an awesome awesome, awesome opportunity for her to like, like give her the free range to explain the whole situation uh with it, because, like sometimes on these national media things, like you, only have a couple minutes like she had about what five minutes at Max um, so i'd love to give her a like a platform where she can speak for longer and like she could take us from the start to the end, her opinions of where things went crazy in the middle um.

I would love love, love the opportunity to let her like really explain the entire story to the public um, so i'm gon na just so everyone knows i'm gon na stay on her with that one um to see. If i can pull that off. Maybe this weekend early next week it would be a great opportunity. I'd be honored.

Uh cannot wait for the film. The big short number two put on payne chat watson. All right shout out tp. Can we get the tulip and lt gray shirt back mine? Are both faded uh to blank shirts? Already, i don't have twitter ig to dm thanks, quack quack uh mac quartz, totally real 10k um.

No, no man with that, like you're short, your shirts should not be fading, so you deserve a replacement, uh matt um. Maybe if you could drop me an email, we could go from there um. I. I would love to help you out on that.

You shouldn't you're, not gon na, be forced to repurchase it we'll we'll we'll we'll get you we'll get you that matt one hour ago on ortex, updated wbr short interest by negative 23. That would indicate a 1 million shares to be bought at some point. This afternoon, volume today is half this: no, the the decrease in 23, it's relative from yesterday! So unless you're saying the the short interest, i guess what dropped by 23 w e b r w e b r, let's check this out yeah. So it's a 26 drop from yesterday, so whatever yesterday's number was minus 26 of that so about a fourth um, a fourth of what or three quarters or something.

So this was probably like in the 30 something percent range because there's a net return of 1 million and 1.2 million and we're talking about uh. So yesterday i mean roughly so now we're down what to three point. Three point: three million roughly, so it's not a twenty six percent drop overall, it's a yesterday's number value x of short interest. Multiplied by 0.75 percent, now equals point like it equals 25.5 percent.

It's a 26 drop in the short interest relative to yesterday's short interest. You don't just take 26 percent, it's a percentage of a percentage. Is i guess, what i'm trying to say uh, it's a weird way to present data like because you have to like think about i'm like okay, like what does this actually mean but um. It is still accurate, uh trace chest hair, put me in timeout, and i liked it tell him to do it again.

All right, dawson uh, can do uh trace chest. Hair dawson would like to go into timeout again, seem to really be into it. Go matt going to parks, casino, the 25th 26th. Come hang poker time shout out brian.

Well, i might be around actually that weekend that might be one of my few free weekends. I might be around rockets in chat for jimi and amc. Shout out i like that. Someone said: should i transfer my shares away from robinhood, i feel like you're, just uh messing with me because, like of course, you should like.

What's the point in being on robin hood uh. What is sorry, charlie saying it's odd that amc apes think the news of robin hood app president selling shares during the meemsak friends, who means they should buy more emcee. It's odd to me that some of the apes think this is a sign of the moes that never seems to come. No, no one, no one is buying amc, because the president sold back in january.

What, where does he come up? Does anyone fact check this guy? Like where, like what what oh man, this guy is dumb, he is so dumb. I wish i don't know. I just want the opportunity, one of these days, to tell him how dummy is to his face. You want to see something really funny.

You want to know who charles gasparino is when you read his tweets. Please understand that you're also dealing with this guy fox business. Charles gasparino, is today's fake pulitzer prize nominee. Uh bass hang on there's actually a more interesting article on it.

I think who was it also not a pulitzer ah come on come on also not a pulitzer prize nominee, charles gasparino fox business. So basically, he said that he was, and everyone's like you literally, were never nominating um. In a video cnbc 2008 gasparina declared i'm a writer son of an iron worker son of a new york golden gloves prospect a pulsar prize nominee. Where does he come like he? He just says words like they're, like they don't stick together, they're, not like a cohesive straight thought and when they are, unfortunately it's a it's.

A pure lie. Uh, let's see until tuesday afternoon, gasparino's bio from fox business said he was nominated for the pulitzer prize in uh, beat reporting in 2002 when he was reported for the wall street journal. The same claim is made by his agents at the harper collins, speaker bureau, and on the website, the publisher, simon and in a promotional video in 2008. He said blah blah next step.

Checking the official list of pulitzer prize winners nominated finals in 2002 and he didn't make it uh fox retracts, the claim when asked on tuesday, in which year he was nominated, former boxer gasparino jab back online. He said i was nominated by the wall street journal, sir. What so he was caught in that and, as you can see, from his bio with that whole debacle, he had to switch out pulitzer prize, and he just puts in that he loves vodka. He loves vodka in that order.

Charles gasparino joined fox business fbn in february 2010 as senior correspondent, god country, pull-ups, and vodka in that order. I love that, like you know what kind of person you have to pee god, country, pull-ups and vodka, in that order, just in case you weren't, like really vodka number four seems i'm gon na i'm gon na call bullshit on that, one charles, doesn't doesn't seem like Vodka's number four in this order, i'm like what a guy what a guy he he gives me excitement if i'm gon na be honest, he some days when i'm just like feeling down and out and here's a little secret, here's a little secret and uh this one Isn't necessarily like coors relationship advice, but this would fall under the core category of core's life advice so um if you're only half listening. This is very important to uh. Listen to, i think, sometimes, when i'm having a bad day and i'm like.

Ah, like it's one of those things that a lot of life is uh like a relative thing of like okay, like what's relatively like better or worse um, sometimes i feel better when i like, i think it's down, and then i look at the relative comparison to Other ones, if ever i'm having a bad day, i just pull up anything about that. Guy's life, charles gasparino instantly, feel better. Give it a whirl if you're feeling down and out stressed anxious, maybe you messed something up in just like generically in your life and you're. Just not having the best day make yourself feel by better by just going and reading anything he says, does has done instantly you're going to feel better because it's going to be always coming back to the line of well, it could be worse.

That's a little secret. Little secret uh, the russell 2000 is ripping ripping ripping and so is the spy i wish amc would be ripping more. It's flat right now pinned to the middle of its range on the day and you could say the same thing for gme, but hey they're, pinned in the green i'll. Take that what else do we have? Oh whoa? I am behind.

I am behind. We did that. We did that gassy pants is the definition of odds, so is it possible that robin hood won't be able to pay for us after the moass? That's that's a possibility, but they, the amount of like deposit required now, is considerably higher. So it's like even less likely that they would, i guess, not really default, but not have the funds than it was before because, like now all the requirements have gone up.

Amc finally broke out of the wedge to the upside: let's go the rest of they shout out diamond dallas page. I made four thousand eight four thousand eight hundred dollars. Six hundred percent with 750 on upst puts today's thoughts on upst. So, in the short term, it definitely is showing a little bit of weakness just because it's dying off but like in the medium, the longer term.

This thing is ripping ripping ripping. So, for me, i'd be interested in watching 280 260 somewhere in this region, see if we get that bounce but congrats on the short term play you crushed it welcome back. I know you're busy, but could you possibly pass on to trey and the community at large that my drown burned to a crisp cat in a bag of gasoline is now probably a dead cat burns? I don't know what's going on in australia today, but it seems like you're having a wild one. Richie knows 98.

Why don't you follow trey on ig? I do follow trey on ig uh. I am assuming you're either looking at his incorrect profile or my incorrect profile. Remember, there's a lot of fake fictitious profiles out there, but i mean obviously i follow trey on ig, but i think it's weird. I do follow him, but it's interesting to me that it matters to you if i follow him.

So this is weird for two reasons: number one. I do follow him number two like isn't that like what high school girls care about of like who follows? Who i didn't know that, like spilled over into the world of like trading and finance, but um, i can assure you i do follow trey uh, that's pretty funny bullish divergence on the rsi daily, shout out danger, wolf! Uh! Can you look at ibon or text, and what do you think i have a call expiring in two weeks, thanks bud e-b-o-n, let me check that out. E-B-O-N short interest of 8.69 shares on loan 24 mil utilization. 98 ebon does not really look like a short squeeze candidate like at all uh the price action.

Isn't there the short interest? Isn't there the social media sentiment surrounding it? Isn't there um? I don't know if you're up or down on ebon, i have a call expired. If you're up, i would like lock and gains i don't know, this does not seem that good to me uh. What do i think about sdc? I keep seeing it everywhere haven't been on. So sorry, if it's already been over uh sdc smile direct club, you need this to bounce off of that 520 level, which it appears to be doing and recapture six.

I don't like sdc that much like, i don't think it's a bad play. I just don't think it's like a top tier play right now. The play to me would have ended back here when it gap filled, and then i kind of would have been done with it and then it shot up, and maybe there was a gap filled to the bottom sign, but after this second gap filled to 605 eh. I guess now i do kind of like the bounce back up to the six, maybe some more because your risk is very reasonable.

All you have to do is risk 20, 30 cents, so the risk reward paradigm. It's a beautiful one but sdc. Maybe if it ends up like it's not on the threshold list, i don't believe it does have impressive short interest. So if it gets the momentum, it could be there, but it being not on the threshold list, that's kind of a knock against it.

So it's another one where i don't think it's bad, but it's not like a five-star like set up by any means. I've been trying to buy hex via medimax using east, keep saying transaction failed. What am i doing wrong? Irish, oh, like so you're trying to swap it. I don't know irish that that's all i did literally on metamask, i sent the ethereum there.

I had ethereum on my metamask and then there was just like that swap button and i swapped it over uh. Why is ups ripping and who are they so they're not ripping right? Now, it's somewhat of a new company. I don't know much about their fundamentals, so i can't really necessarily comment on its uh long term, but i can say over the past three quarters whenever it has an earnings, it just keeps ripping. It has some of the most impressive reactions to earnings announcements.

I've seen in a hot minute, i know i always post random stuff, but i want to let you know that i love you all and we will win in the apes until the end. Every dollar matters: milk duds. Can you check out rklb shout out dax rklb rocket labs rocket labs burning up on them all right, uh, looking strong, it's bending back around you're, basically looking for this to successfully push around. Basically, let's just call it 17, maybe a little bit of a hiccup at 1780., but once it pushes that 17, i would i'd be curious about how far the momentum can carry.

It just be careful because your closest risk, if you want to play it very tight, you would risk a dollar around 15. Just support support support. If you want to play it a bit more loose you'd have to risk 1345, which is about 250. So that brings us up to 18.50.

So actually the risk reward. Is there? It's not. The best risk reward i've ever seen, but it is, it is in your favor um it at the risk reward. Is there i would want to dive into like what is or isn't going on with the company? It's a financial conglomerate.

Basically, it's just a spac who's, uh, probably acquiring someone i would want to dive into the numbers, see what the dealio is with the company, but in terms of technicals there's an argument to be made in support of the long position on rklb at least the way. I see it uh. Can you take a look at prague, p-r-o-g man, the russell 2000 and the spy just rip and rip and ripping uh prague not having the best day gapped up going red gap filled, so it filled this first gap early this morning. It did look very strong and i was like be careful, there's the two gaps under it, so it successfully filled this one gap right now.

It's a very tough play because it sold off so much that you could argue for the reversion, but on the flip side of that there is still the gap to under it. Just so you know, prague does still have a pretty considerable short interest, so if it gets moving, people could get squeezed out uh, but i would argue based on its action today. It's it's a tough play this. This would be more of a difficult play.

I don't understand why atr is going down with current short interest and utilization, because short interest and utilization is in no way indicative of demand. Remember what moves the stock is. The demand to supply paradigm, if there's more demand than supply the price goes up. If there's more supply than demand, the price goes down.

Nothing in there has anything to do with short interest or utilization high short interest. High utilization high cost to parallel high shares on loan. That's all indicative of the potential of a squeeze, but it in no way means it has to. It just means that the opportunity is there for that to be a reality, but to see a high short interest utilization or any of those things that just rattled off and to think that that means that the stock has to go up.

That is a horrible horrible. Takeaway anyone listening right now, especially if you're a new ape, i beg you, i beg of you to not just simply go around buying stocks that have a high short interest shares on loan utilization cost to borrow thinking that it has to squeeze. That is a very poor methodology that, in the end, will cost you money um. It really really will there is no statistical evidence suggesting buying every highly shorted stock.

Is a net profitable play? In fact, the stats i've read, suggest the opposite: highly shorted stocks. Typically, if, if you look at it over an entire data, set most highly shorted stocks end up actually selling off. That's a part of the reason why amc and jimmy are so unique is because they actually like kind of bucked the trend of what was and wasn't happening, and really they like, they bucked the trend of like statistically how it goes um. I need to make that very, very clear, because, right now, with the the advent of amc and gme a lot of new apes, they think they could just buy all highly shorted stocks and they're going to get some crazy, multi multi thousand percent gain.

And it's just simply not how it goes uh. What shady stuff happened with gre uh. Basically, they started trading it after it absorbed sprt before any of the stock actually cleared on normal brokerages. So no normal person had the opportunity to make moves to buy or sell gree the story about it.

It's really messed up that the merger of sprt into gree, the leadership team of g-r-e-e um they're, a bunch of scumbags like what happened like to me. It 100 deserves a court case because what they pulled off and how they basically stopped the the normal retail training public from being able to make any move couldn't buy, couldn't sell, was just forced to sit there and see it drop, drop, drop um that that's that's Messed up it's so absurdly scummy um. I think everyone who had a finger in that gree deal. They they should at minimum pay back all the money that was lost because the people just simply could not sell.

That's super super messed up. We need an apes versus bull, hitters tag, team, cage debate, matt, trey, kramer, sorry, charlie winner, donates to charity of lovers, choice, um, apes versus bulls, hitters tag team. Well in that, though, oh kramer, sorry, i thought you meant. I was thinking charles payne uh, a matt, a matt and trey versus kramer and sorry charlie debate.

Oh sign me up sign me up um, i don't know if trey myself would win. I i strongly think that we would win, but i mean it would be. It was a it would be a debate for the the ages, but i mean i would do that in a heartbeat. I mean, even if imagine that imagine, a scenario in with in which either charles payne and melissa lee moderated a debate between trey and myself against kramer and sorry charlie, and you went let's throw in a third party, let's throw in griffin and tennis as well.

So ken griffin, vladteniff they're, one team, kramer, sorry charlie another stream, trey myself, another team, and then you have charles payne and melissa lee like moderating it and it's two-part like the first part we're going to go intellectual, it's a theoretical debate and we're using our words. The second follow, apart, like a full-on royal rumble like wwe style, and so we we get the intellectual strength and the physical strength, and both of them are gon na involve teamwork um. I think it could be one of the biggest pay-per-view events of the year like if full-on intellectual debate and then right we're going to conclude it with it's like a two-part like we have a nice hour-long debate and then you get a 15-minute break and then you Get like an hour-long cage match or like not even a cage match. I think we should just set up like a shitty like webcam and just film it in a back alley and we'll just sell it like on youtube streams like a dollar per stream like let's, let's just do it, whoever, if there's like a uh a promoter out There that can pull this off i'll sign it i'll do it for free any money.

That's raised i'll i'll, donate it to whatever charity. Most people want it in or something like that. I would just do it a ladder match a texas roadhouse could sponsor it. Someone said squid game uh.

I just started watching. I didn't just start watching squid game, i'm i finished episode either six or seven squid game's good. I don't want to give anything away. Um! It's not fun! Watch! It's not like! We were talking about it.

It's not a way to unsettle like or unwind at the end of the night. It's an unsettling show it's on netflix, but if you want to kind of watch um - oh my i i just don't want to give anything away. Okay, i'll put it this way like a very extended black mirror. You could check out squid game but uh.

This is your warning. I would not watch it with kids and it's not something you watch to like calm down and relax uh. Who would i contact about the sprt gre ee situation? I mean you'd start with your brokers me like. Can you explain to me what happened they're, gon na say? No, we don't know and then from there you'd probably talk to some sort of like sec lawyer all right.

What else do we have? What else do we have all right, amc, still flat gme picking up a little bit iwm the russell 2000. This dip buy early. This morning we were actively watching it um. I took my profits right here on this pop at 105, so i locked it in and i'm happy with it it's a friday on friday.

I get more of the mindset if i'm up and i can just lock it in and i don't have to worry about any weekend, so i was obviously way too early. But i took this pop right here at 105 and i took my attendees off of the dip buy on iwm it kept running if you're in it. If you got a piece of this move, congratulations uh the spy doing something similar matt. I also made three day trades this week and now i bought a call today.

If i sell it on monday, would i get pdt nope, because you're you're buying it you're, creating the position and closing the position on two distinct calendar days pattern day trading is when you create and close a position. The same position like you, create position a you close position, a if you create and close three positions within like the same training day within a rolling five days, so in that five day period you can only do this at max three times. So, all three on one day, one on one day, two on the next day, one two: three: whatever it is, you get three day trades opening and closing a position in one calendar date. You get three of those every rolling five days.

If you have a margin account and your account has under twenty five thousand dollars, uh in equity uh, if you plug in netflix, watch the bob ross documentary i'm in it for about eight minutes. Oh that's awesome. So i saw that is. Is that a good doc? Has anyone watched the bob ross one uh gr ee was supposed to have potential? Do you think it still has any um i mean its chart is severely selling off like you might get a bit of a reversion play, but i don't know i i think the people who are kind of running it are a bit scummy.

So i don't know if i want to be a part of like running the stock back up for them, because that will like clearly benefit the people who own and operate the company. Uh welcome to the thunderdome chumps matt core is being interviewed by joe rogan pre-fight. Like i show up like hulk hogan, oh brother, like i just go completely bonkers uh jackie daytona, should be a vet. He could neuter a mouse with a blink of an eye.

Ah man are you saying that scummy people never succeed? When did i say that i'm kind of curious, like sometimes i say things david unbranded like where what were the mental gymnastics that you took to take my sentence and come to the conclusion about what i said about mine? I hope you're messing with me. I really do like. When did i say that i just said: i don't want to help them. When did i say that, like they do a lot of scummy people, like literally name a politician, and then i can name a scummy person who succeeded um, it's that simple uh.

What do you think about think about? What is that a compliment for jackie? I'm not sure. I hope you could take it as a compliment like it just sounds joe rogan on amc price action. Oh he's hurt, he's really hurt. It would be fun to have joe rogan kind of like live commentate.

A trading day as if it were a fight, i think we we can make that we can make that happen. No, we can't, but it would be funny nonetheless, crypto's still looking mighty fine right now. I am looking for ethereum to come out to basically 3 800.. At this point, i'm looking for our friend a theater bitcoin where's bitcoin gon na go to let's call it 49 000.

Just under 49 000 is the next level i'm watching, but uh crypto's ripping right now, uh, i'm very, very happy with what's going on in crypto. Where is my crypto? You know this is the one thing i don't like about coinbase. Is it doesn't tell you your percentage gains but based on its chart it it is going up. So i don't know what percentage i'm up, but i'm up i at least on voyager.

That's one of the nice things about voyagers that has um more of the percentage stuff. Uh wait, hang on which one oh hang on. What are my mods, my mods, my mods, my mods mods? Where are you? Where are you? Where are you? Where are you uh? Oh hang on free stonks, so the typos i have a typo somewhere. I have a type of i don't know where uh you said: gre are scummy people.

I was asking what they had to do with the stock. That's not a mental gymnastics at all uh! No! You asked me so: scummy people don't succeed um if, if the stock goes up that benefits the company, if the company is benefited that benefits the people who are running the company, so if gree were to squeeze and go sky high, that's benefiting directly benefiting people. I don't think should be benefiting because i think they're scummy people can you give a shout out to tanner shelby, glenn and judy. We are from canada, see you on the moon.

Thank you. So much for everything. Eh shout out to wood and design. Uh fox says: crime.

Okay, why come hood no tank uh? I guess because people um are not pricing it in. I like with hood, because this sounds like almost like. It would be a personal fine like that, wouldn't necessarily like if you're referring to the president selling shares of amc, i think if he gets caught, he gets in trouble. The company doesn't get in trouble, so it wouldn't have an adverse effect on the stock.

It would just have an adverse effect on that gym. Guy is, i guess, all right: what do we have uh? What would happen to our money? If robin hood can't pay us during the squeeze, but right there it sounds like um. It sounds like you just wouldn't be paid. I i really i mean i guess it's a bit cold but like what? What is the point in being on robin hood at this point in time like there's? No, there's, no, no reason.

I personally believe, based on the volatility and the volume we're currently seeing in amc and gme you're, not going to miss anything right now. You have about an hour to set up start your kickstart, your transfer. Today you can go anywhere. I highly recommend you go to a platform that allows you to do trading on lit exchanges.

Um, i'm a big fan of public people are really enjoying whatever it is. Fidelity td e-trade, all those ones. You have to use the pro platform to route it to a lid exchange on public. You don't but like if, if you're listening right now - and you have at all like one percent concern about what might or might happen with robin hood like, are they gon na? Be a company: are they gon na declare bankruptcy? Are they gon na hold your funds after the squeeze during the squeeze? If you think that there's any chance like one percent chance of shenanigans happening with robin hood, my question is, then: why take that risk like it's? So easy you open up another account.

You hit transfer, you wait the couple days it takes to transfer, there's a little bit of risk there in terms of like okay. What if this quiz happens? I think it's extremely minimal. I don't think it's riskless, but i think it's absurdly minimal that the squeeze like you're gon na miss it. If you start it today, that's just my opinion.

Maybe i'm right, maybe i'm wrong. I strongly believe i'm right. This is not financial advice, it's just my opinion, but if you have any concern, get off of robinhood uh do do your mods have bods ps. Kenny g is a deck wad um, my mods yeah they're.

All i mean you guys have heard all the insane things that my mods have to go through to be mods and they're um. What's it wilheem willaheim will will i'm. I want to make sure i'm getting it willem wilhelmina willamina they're, all willa willamina wilhelmina models. I don't know, that's the only model agency i could think of.

Obviously i didn't know much about it. Um, but i know all my mods are from there. They they they all moonlight as like high-end modeling services for for various things, but that's a part of it. Yes, that's a great question.

Thank you, trey subway cup, that changes to the bowflex. Oh man, oh man, well, the market is still surely pushing, surely pushing and it won't stay on robin hood because of instant deposit, but there are various other ones that have instant deposit. Like it's not like robin hood's, the only brokerage in the world that has instant deposit, can you explain how market makers work and why they need them? So? Yes? Yes, yes, yes, yes, yes, there are many functionalities of a market maker. But in terms of us and like where it does and doesn't matter, i would mainly argue that you should focus on the liquidity that they provide so you've, probably heard of the term hft high frequency trading market makers are a special subset of high frequency traders.

Market makers provide liquidity, so, when you're, looking at the level two, the the sitting buy orders and the sitting sell orders the exact same thing: you can't see on dark pools. You see all those sitting buy orders all the bids that are below the price, all the sending sell orders all the offers that are sending above the price. All of those there's a good chance that most of those are provided by a market maker. They provide liquidity.

There are some content creators out there who don't know what liquidity is, and they try to tell you that it's something along the lines of, i guess like how much money a market maker or a hedge fund has um, and that makes sense. I guess in a certain sense, because if you look up the merriam webster deck different definition of liquidity, it's gon na be like in an internal sense of like. Oh, are you like liquid in cash like? Do you have cash like? Do you have the ability to like buy something like as a human, your your finances either they are or aren't liquid, you might be rich, but if it's all tied up in property, that means you're not liquid. Liquidity in the stock market is a different type of liquidity um when you're the way we think about liquidity and like the money in the stock market world, it's probably better to use the terminology capital like how much capital do you have available and like liquidity, is The same type of liquidity, like i guess, if you really look into the definition of the world, but the best way to think of liquidity of a stock is okay.

How easy is it to buy and sell a lot of stock? So if you want an example of of an illiquid stock, go to some random ass penny stock, it is very, very difficult to create and get out of considerable size. Even if you had unlimited money. Some of these penny stocks - it's super super difficult just because it's not liquid, there's not many people buying and selling, but on the other side, if you look at something like the spy, iwm app or microsoft, those they're extremely liquid, as in it's relatively easy to get In and out of, very very big positions, um, so market makers, they help provide liquidity. They fill out the bid they fill out.

The ask, as in they're sitting there with buy orders, they're sitting there with sell orders, and they do this, like that's their whole thing. It's like we provide liquidity to the market. People want to get in people want to get out. We will facilitate that need opposed to waiting for some other hedge fund or some other retail trader.

To take the other side of your trade uh. It makes training more expedient and it increases liquidity levels. So it's it's more mobile to get in and out of stocks now in doing so they don't just do that out of the kindness of their heart. It's not like hey uh.

We see that the stock market needs more liquidity like we're gon na, be the people who provide liquidity because that's how the world should run no, no, no, no, no, no, they do it by trying. They have very very fancy statistical models in the background whenever they're providing liquidity, their goal is to reverse the spread. So, basically, if they're filling out the bid, as in they're, doing a buy and someone sells it to them at that buy they try to traverse the spread by selling it then at the ass. So it's whatever you see that spread they're, always trying to bounce back and forth between that spread and remember, they're doing that simultaneously as filling out the bid and the ass.

So if they're hit on the ask that means they want to go over to the bid and close it out and then, if they're hit on the bid they want to come over to the ass, so they're playing the spread back and forth all day every day. Um there's a couple other ways they make money, but the main thing you need to know is they make their money by the difference in the spread and they are carrying risk. It's not like this is riskless for them.

21 thoughts on “Ep 95 crypto gains incoming amc gamestop: apes be flexin’”
  1. Avataaar/Circle Created with python_avatars Show your hand says:

    Thank you Matt so much for putting things in perspective, I love you for that, very important for the community
    Please keep up the good fight, Philadelphia……

  2. Avataaar/Circle Created with python_avatars Chris H says:

    I buy more AMC and GME every pay day. I will wait as long as I need to. 🙏🏽❤️

  3. Avataaar/Circle Created with python_avatars Akshay { BRAINSCOTT804 ON TELEGRAM } says:

    🥰Thanks you☝️very much for your wonderful feedback we're happy that we are benefiting from your Service / program we promise you that we shall recommend more people to you sir and we promise never to relent in buying your software & investing more money you are the best when it comes to legitimate and trusted working Bitcoin generating mining software that truly mine btc I believe you will be rewarded soon with your great jobs

  4. Avataaar/Circle Created with python_avatars Gary Malumbe says:

    The trading market is constantly evolving with new features, trading opportunities, financial swings with sudden surprises around every corner. The best thing is to stay in shape and don’t let anything catch you on the wrong foot.

  5. Avataaar/Circle Created with python_avatars Dave A says:

    Name of the song?! That’s a hit and should be spread

  6. Avataaar/Circle Created with python_avatars Zen Cloud says:

    Awesome song!

  7. Avataaar/Circle Created with python_avatars joey rod says:

    Do not be jealous on the twelve-year-old or old we will be there soon not a big deal just took us a little bit more time to get that lol

  8. Avataaar/Circle Created with python_avatars joey rod says:

    Dude I am speaking to the Mike so half the fucking words that came out on my last thing we're wrong so screwing is one of them

  9. Avataaar/Circle Created with python_avatars joey rod says:

    You know what I'm thinking as I hear that music towards the end of your session session that you are feeling your beard I was screwing then you'll be it I was crazy high looking I'm sorry I was laughing when I said that when I said that it yo do you feel in your bed I can see that I'm just laughing

  10. Avataaar/Circle Created with python_avatars Wilson Alex says:

    The rich see's economy crisis as a garage sale,
    that's why investing right now will be the best decision

  11. Avataaar/Circle Created with python_avatars Karen Benson says:

    I’m so happy ☺️ I have been earning $18,000 returns from my $6,000 Investment every 13 days.

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

    I love your video at large but I would advice everyone who is into crypto to stick with BTC and ETH as much as you can guys. If everyone sells it as its fall, the dream is lost.

  13. Avataaar/Circle Created with python_avatars His Telegram name is mansonwill12 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

  14. Avataaar/Circle Created with python_avatars Alfredino Ferri says:

    <ROSE, AXS and ICX notched 20% gains after bulls took control of the market and sent BTC price above 47,500. Bullish sentiment returned to the cryptocurrency ecosystem on Oct. 1 after a 10% spike in the price of BTC lifted it above the 47,500 level and resulted in the liquidation of more than 270 million in short positions. Altcoin market quickly followed suit with a majority of the tokens in the top 200 registering double-digit gains for the day. In fact this is when the market yield more benefits, crypto trading is a lucrative opportunity as it leverages the market volatility, I have been able to make 17 BTC in just 3 months of trading all thanks to exclusive signals from Claudtowner, a renowned trader that is way ahead of his time.

  15. Avataaar/Circle Created with python_avatars BJ AMC Cheerleader💃🏻 says:

    If they put ‘Shitadel Scandal’ on the plane banner would that be considered plausible deniability so we wouldn’t be held for a liable. Or, They may except their new name shitadel…and identify with it

  16. Avataaar/Circle Created with python_avatars BJ AMC Cheerleader💃🏻 says:

    I LOVE IT!

  17. Avataaar/Circle Created with python_avatars Douglas Hunsel says:

    What is the intro song? Sorry I'm new. Good info Matt. Keep it up.

  18. Avataaar/Circle Created with python_avatars old salty says:

    Insider trading is illegal, ask Martha Stuart.

  19. Avataaar/Circle Created with python_avatars Josey Oaks says:

    We need to get The SEC trending like we did with Kenny G. "Get off your ass SEC" sounds about right. lol

  20. Avataaar/Circle Created with python_avatars Pault Gabbin says:

    Nice work mate,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't tell if it's going bearish or bullish.While myself and others are tradn 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 7b TC in just August from implementing tradess with tips and info from Gallen Albert

  21. Avataaar/Circle Created with python_avatars Caleb Piperato says:

    Just signed up for public

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