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Ep 98 stock market is looking *spooky* dumb money w/ matt – Matt Kohrs

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Stock Market Is Looking *SPOOKY*
Dumb Money w/ Matt Ep. 98
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Give us this day our i'm the simplest bubba trying to sell some damn shrimp can't spell like you can't even count to 10 and i eat crayons. Every day with my friends, i think about kenny in his ivory tower shaking in his lilly bones. As the apes of a power must suck to lose sure this, throwing all the money at the streets like a quarterback right here, we got more smoothies than a jumbo another fan because we huddled through hard times money well well, well, what is going on moon gang? Oh brother, oh brother, brother, brother, hello, hello, hello, welcome to episode whatever it doesn't really matter, but hey happy wednesday or october. I think we're in october october, 6th hope, you're having a great day hope you're having an absolutely fantastic day.

I don't know if it's your morning your afternoon or evening night doesn't matter what it is. I hope you're having an absolutely great one, and we are here to talk kind, about everything, we're going to be talking about stocks, we're going to be talking about crypto we're going to be talking about corruption. We're going to be talking about my eyebrows, we're going to be talking about this mental spiral. I've been going through on the stair stepper that one we're going to have to save that for right before the belt.

I don't want to go on too much of a tangent, so with everyone joining in right now, we do have some pretty important stuff to talk about, as it relates to the markets, your money, my money, what's going on with the community. So with that being said, let's hop right into it. The five things you need to know before the stock market opens today wednesday october 6th stock futures. Think as october's wild swing continues now.

A reasonable question is: is this abnormal? Is it normal? What's going on like it, was this somehow predicted? Well, i do want to point you in the direction of this resource called equity clock. You could just check it out. Just google equity clock. This is the seasonality over many decades, various decades really a couple decades, but a lot of data points of seasonally how the stock market behaves and if you take a look at this, the first third of october is commonly rough.

We know the entire second half of september's rough. Then it's a little bit choppy. The first third of october is rough, and once you get to that, which i would say roughly in a couple days like maybe this time next week or something from there, look it it rips all the way. Until basically, thanksgiving takes a breather rips all the way from there until the start of november, so seasonally when we're talking about the s, p 500 iwmqs right here, like what we're seeing, is seasonally kind of on par just so, everyone knows once again, this resource is Called equity clock and you can just kind of see the seasonal headwinds tailwinds it splits it up by overall indices.

You can go into the various sectors. Pretty cool information in here i'd recommend checking it out all right. 10-Year treasury bond yields top 1.55 percent ahead of jobs data, so just remember. Uh yields are very important to look into, but just remember for us like the way we were really going to be interpreting this, as yields go up that, through a kind of a series of steps, ends up having a negative impact on big tech, high growth stocks.

Just so, everyone knows so yields up that's going to push bonds down and uh it. There are various steps involved, but really check out the cues check out these big things: apple, microsoft, uh, the big tech leaders, those end up getting hit because it does in a certain sense, make high growth tech a little bit less favorable, as in you could get Money elsewhere near seven year, high oil prices, stoke inflation, concerns uh. We know about inflation. We know that the fed's been talking about it being transitory, but like once in a while, we hear a comment where they're like well, we kind of underpredicted what was going to go on and hang on.

They seem a little skittish, but more so with oil, and i want to talk about this. A little bit separately of it seems like we had that crazy oil run and it really related to cei and the excitement, and i'm fully aware that cei got its teeth. Kicked in yesterday um, i want to be talking about that a little bit separately, give it the time, because i know a lot of people paying attention. I have a lot of questions about ci, so we're going to save that just for a little bit biting concedes.

3.5 trillion budget bill will need to be smaller, so this is kind of important. Let me just go into this president. Joe biden has conceded the final version of a 3.5 trillion with the t package of social and environmental initiatives, with only democratic support will have to be considerably smaller. In virtual meetings with house democrats, this week biden said he reluctantly sees a price tag between 1.9 trillion and 2.3 children.

A democrat familiar with the session said on tuesday senator joe manchin uh. A high-profile democratic holdout wants the bill to be closer to 1.5. Trillion for passage. Democrats need every vote in the 50-50 senate and all but three in the house.

So that's um, it's possible. They do have the votes there, and especially with the 50, 50 and senate. Obviously, the vice president will be able to vote. I don't want to cause any flashbacks back to our like government class.

That's what they're looking for so it seems, like kind of as this story develops, with the trillium package, the 3.5 trillion package. Every time i hear about it, i feel like they just keep lowering the number but something to pay attention to and remember. This is a distinct issue relative to the debt ceiling. Remember: debt ceiling october 18th.

That's the date! Janet yellen keeps shouting out and we have various people continuing to talk about it, and it is a big issue if we default for the first time ever on our debt um, who was saying it some big political regulator, person saying um, it could cause a stock Market breakage, uh, quote-unquote breakage, i think that's a bit extreme, but it would not be a good situation. Um so definitely pay attention to this. The like the bill that they're trying to go for the budget, but i would in the short term it does seem as if this debt ceiling's a bit more important, speaking of which that's number five democrats consider filibuster change to hike debt ceiling. So once again, this is really getting into the nitty gritty of how our government functions, and we could talk about this filibuster thing yesterday.

There were talks about reconciliation. It's another process that that one really kind of more so impacts the senate and not really the house, but there's a lot of just these weird rules that the u.s government implies and right here with the debt ceiling, they're all going to come into action um. So these are all distinct by the way: filibuster, reconciliation, they're, all different pathways and also just like normal voting. But anyway, getting rid of the filibuster would lower the typical 60 vote threshold for a passage to 50, with vice president kamala harris breaking any tie.

A simple majority would be enough for passage. Republicans want democrats to utilize the reconciliation process. What i was just speaking about, they aim to use it for the budget bill to act on the debt ceiling. So that's a quick breakdown with it, i'm more than i want everyone to be informed about.

What's going on politically um with it, i think sometimes there's some erroneous assumptions. Um, i'm not here to really share my own political opinions. I'm here to share to the best of my ability in unbiased political opinion, because it can clearly have an impact on the market. I have seen people right left in the middle everywhere, the entire political paradigm do not let your political bias get in the way of.

What's a reasonable logic, intelligent, highly informed trade, those are two distinct things. If you hate one side, love the other side or whatever it is. If you file somewhere in the middle, when it comes to the market and politics, you need to be as unbiased as you possibly can and take in every piece of information for what it actually is, and i know that's way way easier said than done uh. But it's something that everyone really needs to work on because, like i said, i've seen people let their own opinions and their political stances get in the way and ends up like getting them in quite a bit of trouble, all right, uh, very, very quickly.

I'm going to keep this one short stocks moving one of the big movers and it's getting a lot of chatter on various social media, specifically wall street bets uh, palantir palantir surges 8.1 in pre-market, following the news that it won an 823 million army contract. Almost a billion dollars to provide gotham platform, an operating system designed to optimize defense decision making um so i've people have asked me about palantir often - and i like it, i just from my background in technology. The data analytics that palantir offers, i would argue, is a couple years ahead of any of its competitors. It is a highly highly impressive technology stack.

It started almost a decade ago by peter thiel, but recently ipo, i believe in 2020 uh. Maybe it was 2019, but uh it's been around then an ipo'd uh, very, very impressive. About 60 of its revenue comes from government contracts, specifically more so us government contracts. I really like it.

I like uh. This is right into my wheelhouse of understanding who's, a good tech player who's, maybe not up to par on it, and i like pound here, i think it's a great long-term investment, and i do find it interesting that right now like what i consider to be a Good long-term investment is getting into the world of. I guess what media would call a meme stock, because, right now it is like i said getting quite a bit of attention on wall street bet: subreddit stock twits, finn twits, like all these other things, a lot of people talking about it, and this is a big Deal 823 million contract um but surprise, surprise one of the first people to speak out against it is jim cramer. The memers can't resist palantir on a contract from the army sheesh enough already with palantir one contract.

Does not a contractor make uh kind of weird speaking like an old timey person here makes sense because he is an old-timey person uh, but i mean i like it like do. I somewhat agree that like if this was only their only contract? Well, of course, that doesn't make the company but palantir commonly gets contracts commonly commonly, and it does well with these contracts and it gets them the companies, the initial companies to re-sign on those contracts, uh, i'm a fan of palantir and i'm going to be in palantir. For the long haul - and just so you know we could take a quick look at it. Pltr pltr uh closed out yesterday, 23 21.

The announcement comes through currently trading at 24.80. Would love for this to recapture 25, then i'll be watching 26. Then 27.? Oh, that's easy uh in terms of technical support, resistance, 25, 26, 27 after 27, i'm once again watching 30.. So for palantir pltr, i like it, i'm bullish on it, um been in it just so i'm trying to be as transparent as i possibly can.

But for me, i'm not actively trading it. By no means am i actively trading it palantir to me it's a good long-term long shot play. Well, i shouldn't call it a long shot. I think it's a well well-designed, well-functioning, strong, fundamental business.

I like, where they're going. It's in a hot sector, it has a good management team. I like pounds here, i'm i'm personally bullish on palantir, but once again i am in no way actively trading it before we get into a little bit talk of genzler just very quickly, let's run through the overall market, since i've shown you some of that seasonality, stuff Right now uh, what was the title of this? One stock market is looking spooky. It definitely is looking spooky.

It looks like once again we are pushing this lower trend line, and this is it's become very important - support around 427.5 up to 429. That's clearly support for the s p 500. So we're looking for this to hold if it breaks down, i'm then watching 425 from there 422. Looking for.

If the demand shows up, if the buyers step up, then i'm looking for hopefully this breakout, basically uh 436, but those are the major levels of support resistance. I'm watching on the s p 500, which remember, is an etf, an exchange fund that trucks 500 of the biggest companies within the us and right here, it's it's at that level. I i have no idea if it's going to make or break it, i'm not a financial advisor, i'm not a fortune, teller, i'm not clairvoyant. I don't know any of that, but what i do know is if it breaks i'm looking for more downside or if it breaks to the upside.

Well then, i'm looking for a test of this whenever i see a level of support and resistance in all reality, and i don't think anyone out there actually knows if it's going to break or not or if it's going to hold. No one knows all you can do is sit back and place. Your bed keep your risk very small and, like fingers, crossed for the reaction that you're looking for at any major technical level in terms of the cues. Remember we were talking about the yields shooting up.

That's typically not good for the queues. The queues yesterday closed at 357.4. We're now right now at 354.4, so we're down three dollars in the queues: tech, heavy etf. We have support at 352.

if it breaks below 352, maybe 349, but i'll mainly be watching 345.. Just to shout out here, obviously, this is about been downtrending ever since september 7th and it is in terms of the rsi, the relative strength index, a very common technical indicator that maps that momentum, it's pretty oversold. So when we get to one of these levels, i think the odds would be in the favor of a bounce, but just because the odds are in your favor doesn't mean it has to follow through that way. And finally, in terms of the russell 2000 tracked by the etf iwm, also kind of gapping down we're seeing weakness across three of the major indices this morning.

Support at 218, currently trading at 219 in pre-market, would love to see this break out of basically 220 and a half and from there 224, if it does break down from 218 today i'll then be watching basically 216, specifically with iwm - and i know i've said this - A lot, but i just want to reiterate it for any new listeners viewers the reason we specifically track this one is because amc happens to be in it one of the 2000, it's tracking, but not only that it's actually the biggest stock within it. It has the most weight at 0.5 percent which, when you're talking about two thousand things point five percent weight, is actually pretty considerable. All right. What do we have here? Uh uh, we have uh a greg in here.

All right got rid of him. So back back to the action, let's talk a little bit about gensler, so in uh i made two update videos yesterday and i want to talk about that because i made a mistake in one of them um, but we talked about shib um, shiba inu, and that Was on one of the videos, then the other one was amc jimmy and the amcgme one. I talked about gensler and basically uh david scott. A representative from georgia was just going ham and he was basically like all against social media and basically accusing him of ruining the fabric of america, and i don't know i i explained all my thoughts on that.

But then there was new information that i just wanted to go over. I thought like gensler, i mean he's the chairman of the sec. He's definitely gon na have a strong impact on like what we're arguing for is more appropriate regulation and actually following through on some of the regulations that currently exist. This is written up in the wall street journal, it's a great read i'll post it or actually, i already tweeted out.

If you want to read yourself, i just want to kind of go over some of the highlights. Scc's genzler aims to save investors money by squeezing wall street. I like that title sec chairman gary gensler, is working on tougher rules for high-speed training firms, private equity managers, mutual funds and online brokerages. His main targets are what he says: are: profits and salaries earned above what a purely competitive market would allow known as economic rents.

I hope that we address and try to lower the economic rents in our capital markets. So basically he's saying: hang on like we're going to look into people who are kind of unduly making money in not so much of a competitive environment. Maybe they found a loophole or they're breaking a regulation or they're doing something that it's just not. Overall, a positive player for the market is probably the best way.

I could articulate that mr gensler developed a reputation as a hard charging regulator during his 2009-14 stint as chairman of the commodity futures trading commission, the cftc uh. I just want to point that out, because i didn't know that he did that previously, that he was the chairman of the cftc uh, and this is kind of how he created his team, which is definitely a unique take. Rather than selecting senior staff from inside the sec or large corporate law firms, as many of his predecessors have done, mr gensler has filed important positions with academic and policy advocates for progressive lobbying groups. Perhaps the biggest fight he has picked is over the plumbing of the stock market, in which a handful of large firms execute a majority of individuals, investors and trades.

This is 100 calling out citadel securities and vertu. I mean we're talking about stock market plumbing. That's exactly the world of market makers, dark pools, exchanges, the dtcc, the nscc. This is exactly what we're talking about and they just put it all into the umbrella of stock market plumbing.

So this is from speaking of virtue, the second biggest market maker. This is a comment from their ceo concerns about concentration and conflicts are theoretical. The actual results are overwhelmingly beneficial to individual investors. This is a red herring.

This is intellectually dishonest. This is whatever in that realm of statement. You want to say this is just flat out wrong w-r-o-n-g. This is wrong.

This is incorrect. This has been disproven by many many people. This is how they get to this argument whenever you're in a certain sense, evaluating the efficacy of payment for order flow you're. Looking at the execution of the trades for the clients commonly retail traders such as you such as me, and the way they measure it is basically based on the spread, is it an improvement from the bid? Is it an improvement from the ask? Can you get a lower fill? Can you get a like a higher fill you're, always comparing it to the spread, the bid, the ask also referred to as the nbbo, the national best bid in offer? Well, this is where it gets.

Interesting is. If you look at the studies and the data cited by citadel securities - and in this case virtu they're going to say, hang on, we are giving price improvement, which is good. That sounds awesome relative to the nbbo to spread the issue here. Is you can't stop? At chapter one, you got ta flip the book over to chapter two and when you look into chapter two, it's useful to understand how the nbbo got to the position that it's at and kind of who controls it and what are the the outside influences on.

It. Very very important and right now, when we have such a large segmentation of retail traders, basically they're off in their own la la land because of citadel securities because of vertu when all the trades are being funneled there and really not. Many are happening on a lit exchange. What that does is it inherently ends up widening the spread, the nbbo so because companies, these two major market makers, which i would strongly argue, is the duopoly because of their segmentation of retail trading.

They've widened the spread and then with all the trading on it. They're like well hang on we're good because we're better than the spread. So really the measuring stick, which is a terminology that kenzler has used in his testimony that they're using it's by it's. It's antiquated, and on top of that, it's a worse measuring stick because of the system that they've made.

So basically what has happened is these market makers have made a worse system and then they're like well relative to the worst system. We just made we're giving you better fills so like. Why is everyone complaining about it when, in reality, there's a very strong academic argument of if you didn't make the system worse to begin with? Well, we wouldn't have such a bad spread, so that's kind of it gets very very into the weeds, but hey that's stock market plumbing. This is - and i know sometimes it's tough and whatever in a tweet or something like that, you it you don't have enough characters to explain and express a very complex idea, but sometimes that's where we're at in this fight in terms of amc and gme market fairness And all the doors that this has opened - we've been doing this now for 10 months.

If it was that easy, as like abc 123, we would have been done months ago, but we're not, and it's because the system we're fighting against is very big. It's politically motivated! It's very well funded and it's super super complex, so sometimes you got to put on your thinking, cap and really dive into it. Besides, just like taking things at the the title level, the superficial level anyway, but mr gensler and other critics say payment for order flow, possesses a conflict of interest for brokers and reduces transparency in the market by channeling data away from exchanges. Exactly what we've been talking about, he said in august that he was open to banning it.

That's pretty crazy, a remark that sent shares of robin hood and virtue falling sharply um. This is coming from genzler himself. You've got some big actors whose entire business model in the equity market space is based on current rules. Sorry, this is not by gensler.

This is by chris ayakovea uh they're, going to do everything they can to not have the change in their business model. Obviously, why would someone like virtue or citadel securities want anything to change when the current system is making them net profitable to the tune of billions of dollars a year? Why would they ever be like yeah? I know that, like that's cool, let's just change it like they already got. The current system figured out. Mr gensler is also scrutinizing the new generation of brokerages, like robinhood um, for various reasons, like obviously they're going to take the stance of the gamification um, i'm going to take the stance that basically robin hood, the company starting out truly, i think they had good morals.

I truly truly do believe that robin hood took their first step with the goal of democratizing finance, unfortunately, because of various twists and turns they've become a monstrosity that i think is damaging to the retail trading public. While these developments can increase access, increased choice and lower costs, they also raised new questions about potential conflicts, biases and the data, and, yes, even systematic risk so calling out payment for overflow. This is from genser calling out payment for order flow as potential systematic risk, and this isn't that crazy, it's banned basically in australia, uk and canada um. So this is not like some like hot gossip.

This is not the hot tea that all the kids are talking about um. This is something this is not new, like various other countries who run very legitimate exchanges and markets were like this is stupid, we're not going to do it, and i would argue that the u.s is actually even a little bit behind in all of that um. So, with payment for order flow, lint exchanges, i highly argue that all of you, especially if you're in the us, because most likely, if you're out it's already going to be banned in your country. So, if you're in the us trade on a lid exchange - if you want like most of these, if you have a plu, a pro platform from fidelity e-trade td, any of those you just got to check out the routing find where the routing is and send it To the new york stock exchange, the nasdaq amex iex, all of those linuxchange, we want our orders not to be facilitated.

Excuse me, facilitated by market makers. They need to be facilitated on a normal lit exchange where we don't have the conflicts of interest where there's better price discovery when we're not damaging the spreads uh. There's various various reasons, and i wholeheartedly argue, get your trades done on a lid exchange. I think one of the easiest ways to do it is through public.

This is a phone app, you download it. They don't have options training. This is just stock training, they're about to roll out crypto trading. It's free! It's free! I'm currently doing a transfer.

I deposited money, i initiated it on monday. It hit it on tuesday, so the money getting into the accounts very fast. I'm still waiting for my transfer from weeble the weeble to public to actually finish. But when you do it, you sign up 70 of free stock, free trading, you're you're, not lining the pockets of ken griffin of doug sifu.

We got to stop lining their pockets. So if you're, a petty person like myself, that's great, if you're more so fighting for the morals of a good overall, well-functioning market, well right, there they're not doing payment for order full and all your orders get sent to a lit exchange. But hang on. We are not done with gensler uh.

This relates a little bit more to crypto uh gary gensler says that the sec won't bring in a china-style crypto ban, but congress could so he just kind of commented that, like it's not up to him, but he himself is not looking to ban it, and this Is coming on the back of jerome powell, the chairman, the fed chairman, also stating that we're not going to ban it um, so we're seeing two high-level people up in the world of wall street saying no we're not banning crypto and it's it's kind of no surprise That crypto's running, like crazy bitcoin pushing 55 000 ethereum pushing 3500. sheeb, is still running. I'm going to talk a little bit about sheep separately and same with doge, don't forget with doge. I mean this is awesome, huge news about doge, huge news, dogecoin fans.

As we work to accept online crypto payments. Now you can buy amc, digital gift cards up to 200 per day with dogecoin and other cryptocurrency, using a bit pay wallet accepted on our website. Mobile app and in theaters uh, so this is awesome back in may i called this out and everyone's like. Why would you do that? Dogecoin is like a hype.

Why would we ever do that that'd be so damaging? Look i mean i like was obviously me. It's just me: i'm gon na be petty uh, so i tweeted that out, i'm like the receipts of when i first tweeted this in may, and i think it's a smart move. Why is it a smart move? Because the main thing i've learned over the past 10 months is, you cannot undervalue the power of a community. Amc.

Has a huge community. Gme has a huge community, you know what does doge doge has a massive community, and it's just now we're all like in the exact same boat together, the community linearly is growing, but the power of it is growing exponentially. I think this is a very, very, very smart move, because you now have so many people invested in the success of all these things simultaneously. I think it's an incredibly smart move anyway.

This is running um speaking of sheep. I do need to correct myself so yesterday i sheeb shib shibainu. I made a video on that yesterday. If you want to see, what's going on, uh check this video, it's posted to this channel uh the one thing that i did.

I need to like correct myself. Um - and this is a small one, but whenever i notice i do something wrong. Obviously i want to correct myself with throughout the video i messed up, a crypto coins, cryptocurrency coin versus a token i kind of inverted them. So just so you know the easiest way.

Uh cryptocurrency coin, you would say, is basically like it's basically blockchain versus like a spin-off of the blockchain, so a token such as ship right here, um, it's ecr20. So basically it's going to be ethereum compatible. So that is technically a token. While ethereum itself is a cryptocurrency coin um, so i know it's a small mistake, but whenever i notice a mistake that i make uh, i just want to clarify, because obviously i'm trying to get across the best information i possibly can so just know in the world Of cryptocurrency coin versus token, it's a small difference, but a difference.

Nonetheless, all right now um all right. We did all of that. We talked about. What's going on there, how? Oh man, the bell is about to open so once uh, once we get going on the day, i'm gon na be talking about cei and prog and a little bit more on shib uh, but before we get in just so, you know the short interest on amc Today is 20.56 percent uh utilization 86 and the shares on loan 114 million in terms of gamestop.

The short interest is 15 utilization 37 and shares on loan 8.8 million and with all that being said, ding ding ding, the casino is open. Let's get rocking folks. Let's get rocking we're going we're going we're going all right, let's we're locked and loaded, we are locked and loaded all right, all right, all right, all right all right what else? Let me see if there's any breaking news, just as the market's getting going amc looking hungry today, i like that. I like that all right coming out of the gate.

So a lot of these things gap down today, um, but already we're finding buyers already we're finding buyers. Matt does public have a desktop version. It does not it's a phone app that you download same with voyager, oh speaking, of which, if you're trying to get on on the crypto insanity, check out voyager um. It's right above my head.

It's free to sign up as soon as you trade, a hundred dollars of any crypto. You get an extra 25. all right, but let's see the bullishness that we currently have going on. I really really like this whoa um.

I didn't. I thought it was going to kind of dance around a little bit at opening just from people a little unsure. I mean it's still red, but uh people are showing up they're buying the dip, not a bad deal, not a bad deal at all. I'm in new york and try to buy sheeb on coinbase wallet.

The miner fee is like 95 of the cur conversion of east any thoughts um so on mine. I just want to clarify: i never actually bought it myself. I was gifted it on voyager for filling out a questionnaire. They gave me about 200 worth um a while ago, which got me 31 million um it.

You can easily get it on voyager. You can get it on coinbase pro and you can get it on finance. Um you're in new york, so i thought, wait. I thought coinbase wall, i didn't think you could get coinbase in new york uh.

You might want to check out gemini, but i don't know if it's on gemini, so for you, you might want to get the us version of binance mark yeah like it's. We new york is probably the hardest state to actually get crypto in. So if you happen to be in new york - and you know the best way to get shebe - please help out mark - please comment it um new york is it's notoriously difficult to do whatever you want with crypto, because the local government, the new york state government, hates Crypto, it's a pain in the ass um, but you coinbase pro and gemini are probably your two options mark i would guess uh i know um voyager will not work in new york. Uh weeble has sheep, so it really doesn't because it doesn't function as a wallet.

So you have that fancy iou uh, which is problematic to every um, i'm obviously by no means a crypto expert, i'm looking to learn um, especially now that things like well. We have gme talking about the nft still and then we know that amc is expecting bitcoin. Doge so, like i feel like for me being a a member of this community, it's on me to learn more about crypto, but i also just like crypto. I really really do i'm slowly and surely growing.

My crypto account. I think it's a great money making opportunity and there's going to be a lot of people who, within the community, i see it more in the amc community who get like really really pissy. When you talk about anything else, folks, if you're of that opinion, i need you to know that you're in the minority um, you really are. Most people here are able to walk into bubble gum at the same time they can be in the fight in amc and jimmy for market fairness, transparency, and they can also still have the simultaneous interest to make money in other good trades.

That doesn't mean we think everything's like amc or jamie. But if you're talking about like a good example like cei, you don't want to just yolo into everything. You don't want to put every single cent to your name in one thing, because there's still risk involved and unless you're comfortable with like blowing up your entire account and losing all of your invested money. There is an argument to having some diversification with me.

Um, am i probably in terms of a good investment, i guess advice over leverage on amc and jimmy yeah. I i probably am, but i also just like really like them, but with it. That also doesn't mean that i'm 100 into it, and really one of my biggest pet peeves, is if you're specifically in amc supporter, you have absolutely no right to call anything a distraction. I don't believe that anything is a distraction, because it's all like a learning opportunity.

You learn how to look into fundamentals. You learn how to look into short interest data points. You learn how to do research. You learn how to read technicals, i don't think anything's a distraction, but if i were to play that game with you, especially the amc supporters listening right now, amc was the original distraction.

Gamestop is the one that started all this shout out to keith guild. The guy who got this all running. Amc is very much the original distraction. If you're going to play that game, you do not have a leg to stand on.

So i, when i see these things of it being a distraction not being a distraction, why are you looking into other people's pockets? It's it's highly inappropriate and really just comes off as being selfish and jealous uh. You have to look at p r, o g on ortex. I've never seen anything like it, so i just saw that prog has a huge short interest: 99.6 percent with a utilization of 99.9 and shares on loan of 22.3 million. Once again, that is for prog uh is the squeeze getting handed to us on a silver plan or not financial advice, but i do not see a vortex number like this.

Since gamestop prg prog has an incredibly high short interest uh, i don't own any of it. Just so everyone knows in terms of price action. I would love to see this close above yesterday's high, which was a dollar fifty six. I like this shoot up.

Um it didn't gap-fill. We still have this gap, so i'd be a little concerned about that, but i kind of want to see this valley formation, so for me, prog would be pretty pretty interesting and closing, above especially a nice volume 1.56. Once again, that's for prog, which has stupidly high short interest, uh free throat. What's going on riley, i have a list of people i'd love to get drunk with you're quickly, moving up on the list based on your rhythm, during opening song, does it get better or worse um? I uh, i think it was safe to say in my college days i was a bit of a wild child um.

So if you catch me in those environments, it can get a little bit, it could get a little bit. Antsy um and i i've been asked my fair share of times to please please exit the bar and then they find i don't know where they grow these individuals. But there's a couple times that i see bouncers that are they're like half the size of a legitimate mountain, i'm like where do they grow you and then they just pick me up like i'm a petulant child and just throw me out um. But i don't know if those days are fully behind me, but it's been a while, in fact, ever since i started my whole um my whole, i don't know i'm mentally spiraling and not in the way.

You think i i'm i'm admitting this right now, i'm mentally spiraling, so i sat down on sunday a couple days ago to do a video and i wasn't happy and that's when i was like okay, i need to make this show i need to like. I was just how can i help the community? How can i do better? How can i make bigger waves, i'm here with a like a little paddleboard and just hitting it in the water and i'm making some waves? I need to go bigger better. I need to drive a mack truck off of a cliff and make a freaking monsoon, and by that i mean a tsunami monsoon's a completely different, i guess nature based event, but anyway don't correct me on that and i sat there. I was like matt if you're going to make a change, you got to make a change with yourself.

Change starts from the inside. You got to go to the gym. It's been about a year and a half two years since you've done anything physical in your life, and i was like okay, so i go there. I see the stairs separate, i'm like.

Oh, my old friend, you are looking hot. I hop on that stair stepper and then at the end of the stairstepper session, i realized that they rank you like there's a there's, a leaderboard of like the top five people and i'm like okay, like let's go and the day one, i'm already like number four On the leaderboard - and i was like okay like this - is something i can look for, i'm a person that very much sets goals and works for that goal. I get my optically focused um. I definitely have a personality trait that is uh.

It's not hard for me to become obsessed with things and when i become obsessed, it's myopically focused it's just how i function. It's always how i function. Sometimes those things i get obsessed with are good, such as growing a youtube channel and other times like when i was a wee little youth. It was things like runescape, where i just probably didn't spend like my time, the most appropriately, but anyway, i see this leaderboard and i'm like.

Oh okay, like this is cool. This is something to do, and i made some jokes about it of like bettering my life. Um, but recently over the past two or three days, uh out of the top five spots, i now have three of them, i'm three four and five. I do not have one or two um and when i talk about me mentally spiraling, i don't know if anyone here has seen the movie mac gruber, i'm not talking about mick gruber, i'm talking about mac grouper, it's specifically mac, it's a kind of a comedy thing, But anyway, if you see that you're going to know the whole license plate reference of like where i'm kind of going here, but the number one person on the stair stepper his his three-letter, whatever pseudonym is dss uh and when i say that i'm mentally spiraling, i Spend way too much thinking about dss, like i seriously do i'm like.

What's he like, what's she like like what are they doing right now? Is it a is it a citadel plant sent here to screw with me and knock me off my game? Is it the boy from bulgaria himself is vlad on a daily basis flying out from california to my gym in philly, just to do more steps with me, because he knows where it puts me mentally, it's just what's their life like what are they doing right now? I have missed hours of sleep over the past two days, thinking about the life of dss and one of these days. I will track down this individual. I will take the the trophy from dss as this jim's best stair stepper, but anyway uh. That was a bit of a spiral.

Let's go back, i don't know what question was asked that got me there, but just so just so everyone knows uh, i invested in olaplex. What do you think here? Let me write some of these down just so. We can do them a little bit more efficiently. Olaplex ola, plex, all right, sweet, sweet, sweet uh.

I got mine on krypto.com uh, that's for sheeb, shout out crystal bro. You have to take a look at prog. We did that prague, crazy 99 made the transfer from our original robin hood on friday completed already this morning, love in public and voyager shout out, lady ape lana. I appreciate that uh david becoming an astronaut shout out to david coin basis for suckers coin.

Praise pro is where it's at way: lower fees so uh i mean i myself, i'm on coinbase pro, so i don't even know. If i've i mean i've been on pro now for so long. I don't even know the differences uh. Where are we at? Where are we at what's up with folky enu and eight nation to the moon uh, i have never heard of folky, but shiba inu has been absolutely crushing it um.

I can, if you're wondering what the deal is with she and what's going on, that was the video i posted yesterday of just like kind of giving you a quick update, and i also did an amc, gme update, remember just in terms of the youtube algorithm. I'm posting on two channels: mac cores and coors light cores with the z um. I just need the multiple posts a day, so i don't get dinged by the algorithm uh matt gruber, don't play like homie and homie. Don't play like that.

What's going on david uh, what a movie fami all right, we'll do, fami f-a-m-i still gamestop has essentially done nothing with their once-in-a-lifetime opportunity, while amc has legitimately turned their business around um i mean gamestop is making some pretty serious pivots. I would say i mean uh. I don't has essentially done nothing with her once in a lifetime time. I i don't, what do you mean gamestop was going to go to? It was going to be non-existent uh.

So i would probably disagree with that. But once again it's just, i would just never say, anything's a distraction if you're here to fight within the ape community - that's great, but that doesn't mean you can't trade other things. If you're trying to learn a skill set of trading um, i think it's a very. I don't know just a like unthought out thought process like whenever i see this whole thing of this is a distraction.

That's a distraction. I don't right away, i'm just like. Oh okay, like this person, has not spent more than two minutes of their life. Thinking about what they're actually saying, please explain: wash sale got stuck with one for 6k sold and bought the cash no margin.

How can they make me cover a loss in a new purchase so tony to my understanding, wash sales more so related to what you can and can't write off with taxes um? So if you sell something for a loss technically, you could deduct that from your like. Whatever your like tax bill would be, but if you buy that stock again that asset that equity within 30 days, you can no longer write it off. That was my understanding of wash sale um, it sounds like you might be talking about. You said you got stuck uh so wash sale whenever i think of it.

I always think about like tax implications. Uh should i transfer out of weeble is weeble still a trusted company. I mean, i don't know about trust, it's just. We know that they do payment for order flow and they're getting your orders fulfilled on citadel.

I don't want my orders fulfilled on citadel. I haven't checked in on the stream in a while, but glad to see all as well shout out d, train, uh suggestion for brokers that work outside of the us, the ones i hear about most commonly if you're in canada. I hear a lot about wealth, simple. If you're in the uk and i believe, also mexico etoro, i hear a little bit about trading 212.

I hear a little bit about revolut. Those are probably all the the first ones that come to my mind. Please explain why price of sheep is different on multiple platforms, because a lot of them probably are not like functioning as a true exchange like if you're looking at it on robin hood or weeble. You don't actually get the sheep like you're you're, buying it from a pool that they have and it's not a wallet and it's like before.

We were talking about stocks being kind of like an iou. This is even more of like a funky iou like you, you don't truly have the ownership. I would never ever ever ever as soon as i learned about what was going on, i'm never gon na buy crypto on things like robin hood or weibo. If i buy crypto it's from an exchange, it's from a true crypto brokerage um, it's so much better because you actually own it then multitasking is an art.

Some cannot do it. Matt shout out matt stux, suspenders, hey! I just blew up my account austin, i'm very, very sorry for that. I hope it was a small, a small account um it. I myself, that's not um, i i don't think it's a rarity when i was learning to trade like when i was getting going for my first couple years.

I blew up multiple accounts and, if you haven't heard that term before blow up basically means you take an account all the way to zero or pretty much to zero to the point that um you're, just not gon na recover in terms of percentage gain basis. Um. If you start with a thousand dollars - and you run it to one - you need a hefty hefty percentage to get it all the way back up to per like to that thousand dollars. Just for you to be break even um.

So with it i mean you're, not alone, i've blown up many accounts and the only i guess piece of advice i would give right now is you got ta, learn from it? If you continue, if you make the decision to continue trading, do not repeat your previous mistakes if you keep doing the same thing and you're looking for a different result, i believe einstein referred to that as that's what insanity is you got to do something different learn From it, this is why i'm a big, big proponent of training journals writing down what happened? What didn't happen? Your thoughts, your entries, your exits, your trading plan, um, no matter what you're in you got to have a training plan, and actually this is currently a perfect segue to talking about cei. Currently trading at 117, down 24 cei has fallen from grace. We have one two three four five red days in a row after getting rejected in the mid-fours, currently trading at one. So if you were in at four you're currently down 75 - and we have some things to discuss about it - we have some very, very incredibly important things to discuss about it, um.

How is actually the best way to start start, this um, okay, cei it's in the oil and gas production sector um. For me, i thought it was going up because i thought it was a highly shorted stock and i knew that oil was running like we're at over 80. A barrel i was just like. Oh oil is running.

This is a highly shorted stock. The people who've been against it just made a wrong call and we're seeing the price action, so we would commonly just like take a look at the technicals and the or text data related to it. I was not under the impression that there was an entire narrative and storyline under it. I just didn't have the time in the day to look at it.

People asked me about it. I did the technicals. I said the entry was around 160. I was trying to tell people not to trade to chase.

Excuse me um and obviously, yesterday the wheels really came off. A lot of people are pointing the finger at kerrisdale capital. We are short cei report available on their website. This one has something for everyone: uh death spiral, financing, a fake cfo delinquent filings, fired auditor three weeks ago, insolvent energy assets and the status family of entrepreneurs in the clean tech, vaporware space um.

So this was posted yesterday around 11 a.m, and it did seem roughly like the time that they threw that out there if we go to cei roughly when they put this out here, 11 a.m. Right when the tweet came out it sold it halted, it sold more kind of bounce and now we're continuing to sell off. So a lot of people are pointing out, be like whoa. Okay, like they put this out, that's the thing that moved the market and um new to me.

Uh he's huge. I don't know how i didn't know about zack morrix, the the followers of zack morris were very much in cei um. So i feel like this is like a strong community that was like hurt by the opposite trade, and i know many other people, i'm sure. If you're watching and you're an amc, gme ape there's a lot of you who are also paying attention to cei.

So with it um i kind of want to just i guess let you know what's going on. If this is true and that's a huge, if i don't know, that's bad, the company deserves to go down. If this is true huge. If and then we have other people who i'm assuming have looked more into it than i have saying a lot of it as in what they're saying right here is a lie.

I don't know what the truth is. I just don't know so. I can't comment on something that i don't have more knowledge about, but it does seem like there's two factions who are once saying wait. This company is like it's being crushed, it doesn't deserve this and then there's other people saying the company's.

Basically, a lie like with a lot of fraudulent things going on um and i'm not the person to sit here to tell you the truth about it. Because up to this point, i just knew the short interest data points and i just knew the chart. I didn't know the the underlying story of what's going on. Um i'm assuming someone listening right now is paying attention to cei and you're feeling some pain um with it uh just to clarify.

I never had a cei position. I was never long. I was never short and even saying this right now. I have no intent to actually trade it.

If i do end up training it, i will let all of you know. I have no position, i'm just trying to be as unbiased as i can and express the story for what i perceive it to be um and unfortunately, that story is very, very murky right now. I don't know whose side is quote unquote right wrong. I don't know, but what i do know is whether right or wrong, there's two big lessons.

Well, okay, i guess three and two two big lessons. First of all, don't chase um. Whenever i see something's really really moving, i still try to get it as close to support, as i possibly can so. Anyone who was just buying this rip, your most reasonable risk point, was down here at a dollar forty and if you're, risking a dollar forty, you would have gone out yesterday, and hopefully you got in as close to a dollar forty as you possibly can, but all Of a sudden, if you're getting in at two you're getting at three the people who bought it before that's what's creating bag holders, that is not good.

I preach this every single day. I beg of you, do not chase stocks and you could define chasing differently to me. I think it's easiest to think about of how far away is your risk and if it's very far well, that means you take a smaller bet, because you don't want to lose a lot of money. You always need to look at your risk.

First, don't get starry-eyed and look only at your gains be like well if it runs to this i'll, be this rich. Your first question should always be. If this goes south such as cei has how bad can it possibly go? I think that's a very good lesson that i think a lot of you are probably like. Oh no, no, that makes sense, but it's a completely different thing to actually execute on that in reality.

So it's one thing: you're, like oh, no matt, that's, obviously a clear lesson that we should all use, but it's well it's different in real time when you're, actually betting money, i get it. Emotions take part um, it's a big thing. So learn from it. You got ta, learn from it and the other thing i would say here of the fact of don't trade is like the other point.

I really really want to hammer home with everyone. Listening right now is: please have a trading plan. Please please. Please have a trading plan don't just buy and then think you can diamond hand like amc and gme and think.

Oh okay, like no matter what like, if i hold it long enough, it's gon na come back and i'm gon na make money on it. That doesn't necessarily have to happen, so you have to have a training plan. What is your entry criteria? What is your exit criteria and in terms of exit criteria, you have to define it two separate ways: what's your reward and what is your risk if it goes to this or does xyz? Okay, that's my risk. I'm gon na get out or if it does, the opposite, are you gon na go with like a time like i want to be in this play for x amount of days? Do i want this percentage return? Am i just there's so many ways you can structure it like there's an infinite amount of ways.

I'm not here to tell you what's right or wrong, i'm just here to please. Please beg if you have a plan, because you don't want to just see something go around and be like. Well, i'm just going to hold it until it comes back because it doesn't necessarily have to come back now. It's like with reference to cei.

It might with that for me to really comment on that. I would have to dive into their report, see if it's legitimate or not, i would have to dive into the commentary by zack morris, see if that's legitimate or not. I just don't know so. I can't like fairly tell you oh like this is done or like hang on.

This is inappropriate. It's gon na bounce, give it time. I just don't know so i don't want to sit here and give anyone false hope in either direction, because i'm sure some people watching right now are short. Some people are long.

I just don't know enough about it and for my own trading plan, i have enough other things to consider that cei is probably just going to be something i don't end up trading all right. Let's get rid of all that now.

17 thoughts on “Ep 98 stock market is looking *spooky* dumb money w/ matt”
  1. Avataaar/Circle Created with python_avatars Joseph Chantry says:

    I have more money in AMC than any other single investment in my entire life.

    Translation: Iโ€™m not leaving.

  2. Avataaar/Circle Created with python_avatars therealcaptobvious says:

    Thank you for bringing up Gensler. He failed to regulate the uncollateralized "collateralized" debt obligations as head of the CFTC. I worked for a small firm and the mgr was an MBA who worked previously as an engineer, and he figured it out a few years before the subprime collapse. They said that they tried to report it to the suthotities, and nobody was picking up the phone. Literally. I made videos about this back in 2008 and went to Occupy LA to poke fun at them. Gensler's team of ideologues means that they probably don't know how to enforce regulations IF they even understand them. So they're political actors like Maxine Waters who "have no teeth". Blech.

  3. Avataaar/Circle Created with python_avatars donald endicott says:

    How has the transfer from webull to public gone?

  4. Avataaar/Circle Created with python_avatars Scott C says:

    I wish I could understand why all of a sudden you changed your mind on being more available to listen to on the show but everybody has their reasons and their rights I miss the information at least I know when I hear it from you it is correct and not exaggeratedBut it is what it is and your decision has been made.

  5. Avataaar/Circle Created with python_avatars Trigger Warning says:

    SHIB is about to take off just like Doge, this chart we see now will look like a straight line compared to what's coming ๐Ÿ‘๐Ÿ’Ž๐Ÿ––๐Ÿ‘‘๐Ÿ“ˆ

  6. Avataaar/Circle Created with python_avatars Gary says:

    Yo. I sold off all my GME and AMC and bought in on CEI at $4.50!

  7. Avataaar/Circle Created with python_avatars Yahshua11 says:

    You say trade on a LIT exchange but you are showing WEBULL?

  8. Avataaar/Circle Created with python_avatars Mo Money 21 says:

    Is BlockFi a good place to purchase crypto?

  9. Avataaar/Circle Created with python_avatars Mo Money 21 says:

    Is BlockFi a good place to purchase crypto?

  10. Avataaar/Circle Created with python_avatars XxmochomoxX says:

    So this man only do 2 hour stream and no more afternoon lol this guy is a impostor just taking your money on donations looks like he doesnโ€™t even care anymore

  11. Avataaar/Circle Created with python_avatars Ruddy Minaya says:

    lets do a Duck crypto xD

  12. Avataaar/Circle Created with python_avatars Cheryl Paul says:

    So banning PFOF simultaneously help resolve dark pool abuse?

  13. Avataaar/Circle Created with python_avatars Chris Stevens says:

    Damn this song makes me happy to be a dumb ape that only knows how to buy and hold ๐Ÿฟ๐Ÿฟ๐Ÿฟ๐Ÿฟ๐Ÿฟ

  14. Avataaar/Circle Created with python_avatars Shadow Love says:

    No Time To Die 007 popcorn weekend. Let's go kids!

  15. Avataaar/Circle Created with python_avatars Yg Bodybuilder says:

    Shiba is going to make me rich and be able to retire early

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

    Investing in crypto now should be in every wise individuals list, in some months time you'll be ecstatic with the decision you made today.

  17. Avataaar/Circle Created with python_avatars California Life Tv says:

    Switching to Voyager ASAP didnโ€™t know what we were doing itโ€™s manipulation at its finest gorilla gang ape nation my friend ya boi CalifornialifeTV โœŒ๐Ÿผ๐Ÿ”ฅ๐Ÿ‘๐Ÿผ

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