What's going on moon gang welcome back to another dumb money weekend update here's to another football sunday and here's to uh! Well, here's to hoping that your fantasy football team is doing way better than mine is, but we can cry about the poor performance of our players later on in this video. Let's talk about what's going on in the overall market, gamestop amc and i really want to dive into one comment from adam aaron: the amc ceo pretty exciting stuff. So with all that being said, let's hop right into it. Alrighty then so just for a little bit of foundation for this video.

Just so you know, amc closed out the most recent trading week at 44, 20 and jimmy closed out the week, uh a hair below 205, but before we get into these two moon stocks. Let's talk about what's going on in the overall market. First up, crypto bitcoin is hanging out just below 48 000, showing some strength. I like it honestly, i think, give it a couple weeks.

Couple months i mean bitcoin acting very, very strong, and we know that a lot of the other major cryptos like to follow, what's going on with bitcoin, but strong, not the strongest we've ever seen, but trading kind of flat, just below 48 000 ethereum kind of doing This same thing, at 3, 400. cardano a little bit weak, i'm a bummed out that it didn't hold the recent push above 250 right now at 232. But, honestly, with all three of these ice, my crypto plan is not changing. I buy major dips.

I'm planning on holding it for one two three decades and i think way down the line, they'll be extremely higher in magnitude than where they are now. On the other hand, though, we did have hex just hit a new all-time high, just below 52 cents. Finally, clearing that 50 cent mark currently hanging out around 48, very, very happy with how hex has been performing before we get into the s p, 500 from a seasonal standpoint. I just want you to know right here.

This can be found on equity clock. I will post a link in the description of the video. The second half of september is pretty bearish. So, from a seasonal perspective, i am expecting uh the bears to be flexing their muscles a little bit and honestly, i would argue that we're seeing that in the chart on friday, the s p 500 broke below a key level of support at 442 and a half Closed out the day at 441 and a half, i think, there's a chance we're coming down to this region, uh just sub 440, this region of consolidation or the next major level of support is 436..

I'm in no way kong's for doomsday. I'm just saying hey from the chart it looks like the bears are a little bit in control in the shorter time frame, and we know the seasonal pattern is against us. Not a doomsday call, i'm just saying: hey, let's look uh my prediction: a little bit more weakness. I'm gon na myself try to make some money off of that a small time frame of weakness and then i'm looking for it to catch itself and then kind of push forward, especially because we do see strength from the first third of october.

Basically, all the way till the end of the year, just so everyone knows from a seasonal pattern, nasdaq same thing, maybe not as bearish i mean we have support at 372 and additional support at 369., russell 2000, actually relative to the nasdaq 100 and s p. 500. The russell 2000 is actually looking a bit stronger. I like the support at 221, looking for this to fall back up to 224 and a half maybe 226, something like that, specifically, especially if you like amc, pay attention to what's going on in iwm.

That's one of the etfs that tracks the russell 2000, just because amc happens to be the biggest stock within the russell 2000 and even though it's the biggest, it is still half a percent of exposure. But just on its waiting mechanism, it is the biggest one. So they don't always have to move hand in hand. I mean amc's actually been showing more relative strength than the russell 2000, but still worthwhile to pay attention to.

What's going on now before we hop into amc and jimmy. Let's first talk take a quick peek at what adam aaron has been saying. So two interesting things to note right here. He just tweeted this out here is a stunning statistic.

This weekend, amc constituted fully nine of the top 10 highest grossing movie theaters in the united states, friday and saturday nights. Amc was 15 of the top 20 as well. Clearly amc doing many things right. We are proud of our leadership position so right there we've been talking about it more through the the numbers, the fundamentals, the metrics of amc, but right here, we're having it once again being reaffirmed by the ceo adam aaron that they are absorbing more market share and Relative to other theaters performing in a dominant fashion, very very much like that, but what i find to be more exciting now that we're talking about my crappy fantasy football team from his account once again, you're going to like this amc got the rights to direct tv's Sunday, ticket starting tomorrow, as in today september 19th on sundays, watch pro football games at amc.

Admission is free when you join amc, stubs and buy a 10 amc, fmb gift card. So we saw this before when they were getting into the realm of the displaying the ufc fight. I love that they're getting into more of this sports um. That's awesome.

I mean we know a ton of people have sent in messages to adam aaron and the leadership team of hey. We think it might be smart to show some of these sporting events on the big screen and right there we're seeing this love it for me as it expands, because it is just 40 seaters, but you got to start somewhere we'd love to see this number grow Grow and grow and also expand to other sporting. I guess opportunities. We have ufc as in fighting right here, they're talking about nfl, i mean, let's get all the major sports in here.

I'm talking mlb hockey soccer all of them. I think there is an appetite for it and i think it's a smart thing to capitalize on very, very exciting amc in terms of the short interest numbers on friday, there was a borrow of 3.13 million shares with the net of 900 000.. The short interest was 18.6 utilization coming in at 88 and shares on loan, taking this to an account, probably around 105 million - and just so you know the average age of the shares on loan, which was a process. You have to do to remember to take a legal, legitimate short position against amc.

They've been in this thing for 68 days almost and with the costs about like they're paying at that fee. Now the cost of paro is around 1.66 uh, but remember that's an annual fee, so you'd split that up by the amount of trading days, but regardless it doesn't matter if you're long on amc, it cost you nothing. You bought the shares and you sit if you're short on amc. Well you're paying for that.

But on top of it you pay the borrow fee, so those fees add up up and up if you are long on amc time, is your friend if you're short time is your enemy in terms of the charts. So i like the recent fundamental development and also dominance, really just amc flexing its muscles, but from the charting perspective we looked very, very strong from august 12th, all the way up until september 13th from the 13th till now the 17th, not looking the best. It truly isn't like i'm not here to make everyone feel better, i'm here to explain what i see going on and the truth of the situation. They knocked it down from 53, all the way to 44.

and on the bright side we obviously have support. There's support. Just below 44, we have support at 42 and some change and there is a good chance of amc catching it there. I don't know if it will or won't i'm not a fortune teller, i'm not a financial advisor, i'm none of that, but i am calling it out.

We have major support and i want to see catches there. Obviously, like my own finances, are involved in amc. I want it to catch itself and bounce and turn around pull a huge u-turn and rip to a new all-time high, but from a technical perspective in the very short term, we are seeing some weakness and if it continues in my own estimation, i think it represents A great dip buying opportunity and i think what we're seeing here isn't truly representative of amc. I think i mean we're seeing weakness in the s.

P 500 we're seeing weakness in the nasdaq 100 and not as much but we're still seeing some weakness in the russell 2000. So it does make sense that other individual stocks are selling off and it just so happens that amc's being one of them now from uh. I i do to me this. Isn't that bad, because i recognize coming down.

How much is this? We dropped 14.5 percent. After how much of a rally i mean we rallied 67. So to me, that's like acceptable. Obviously i wish it didn't have to come back at all, but i think it could be described as more of that.

A healthy correction of sorts, but the one thing i don't like and i'll be actively watching this upcoming week is on the daily chart. We just had the moving average convergence divergence, the macd cross over into bearish territory. We went from all these green bars to the red bar um, so i'm actively watching this, especially when we get to these levels of support. I want to see a bounce or recovery, but i specifically am looking for the macd to cross back over.

So my eyes this upcoming week, at least in the first half of the week, is definitely just below 44 and also at 42 and some change to me. I love shopping at discounts, so that's what i'll personally be watching as the trading week commences now to talk about gme in terms of the shorts on friday, they borrowed 133 000 shares for a net 44 000. So not much of a change short interest of 12.45 percent utilization of 34 and shares on loan, taking this into account still around that 6.75 million roughly in that range. Now, for gme these two amc and jimmy for quite a while you're going to see times that they're almost moving in lockstep and other times they aren't recently they haven't been so back on the 24th we shot up, lower highs, higher lows, bullish, pennant, fake out breakout Got hit pretty bad into its earnings, but then all the gme gamestop supporters showed up and they bought it off of 177 180 and pushed up they recaptured.

200, no matter what the bears are doing. They cannot get gme below 200.. It's actually very, very impressive. To watch so we have that major level of support currently trading at 205, and what i'm looking for is for this to hold and basically a breakout and a hold above 215.

we've seen multiple times these wicks i mean we saw one on the 16th. We saw one on the august 30th august 26th, these wicks, where it pushes above 215, but it can't really hold. So that's what i'm looking for for the bulls, the apes to show up get above 250 and hold and then from there 225. Obviously, 200.

Incredibly important support and we also have additional support between 188 and 190.. So i like what i'm seeing there uh right now. It's neither of these stocks, neither amc or jamie being that volatile uh, neither of them having an incredible amount of volume, but uh we're looking for that change. That's obviously, a natural ebb and flow cycle of the market, high volatility high volume to low volatility, low volume, we're just in the ladder for now so we're looking for that trend to change and we're.

Looking for more of these larger range bars like we've previously seen so look for the volume volatility to return. Javi, obviously we're hoping that that kind of returns to the upside and even in gme, same thing. Look for that macd to cross back over to the green sign, which is the same thing. We're looking to see occur in amc, but overall i in this one.

I just wanted to give a quick touch on what's going on with crypto. I want you to let you know that the overall market we are in a seasonality period of a little bit of bearishness. Now that in no way means that amc and jimmy have to follow, but we are running into the proverbial headwinds of sorts. I think that's the best way to think about it and in amc and jimmy uh jimmy it's holding.

I love it above 200.. Let's look for that close above 215. amc. We want to pull a u-turn as quickly as we possibly can, and i'm personally really eyeing out that discount shopping opportunity around 42 and a half with all.

That being said, i would love to get your thoughts on both of these stocks in a comment below or if you want to talk about the overall markets, crypto i'll, i'm more than happy to engage with that, and until i catch you next time for me and Share best of luck in the markets.