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SEC Banning Payment For Order Flow?!
Dumb Money Update
Let me know your thoughts on GG, AMC & GameStop in a comment below!
Yahoo Article: https://finance.yahoo.com/news/gensler-zeroes-in-on-citadel-securities-as-sec-considers-payment-for-order-flow-ban-191715790.html
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What's going on moon gang welcome back to another dumb money update where, of course, we're here to talk about what in the world is going on with both amc and jimmy, but in this particular update video i really want to hone in on some of gary gensler. The chairman of the sec some of his recent comments, especially as they relate to payment for order flow, because i think you're really gon na, like what you're about to hear so with that being said, let's have right into it. For today, tuesday september 14th. Amc closed out the day in the red at 47, 30 and jamie was also in the red at 199.24 before we hop into the technicals and the ortex numbers and the flow, and all that i really do want to make the main point of this video.

What is going on with gary gensler? He did testify today and a couple interesting things came out, one and i'll start off with this absolutely pure comedy. He was referred to as daddy. You heard that right, gary gensler, the chairman of the sec, was referred to as daddy in a government hearing absolutely bonkers and what was actually even a little bit more, maybe more, maybe less, depending on what how you feel about this, but listen to this clip very Quickly shout out to ryan rigg for posting this clip. I had talked about doing a report sometime this summer and putting a report on out.

If i'm, if i remember correctly um, can you talk a little bit about where you are and and and your concerns with gamification and how it impacts investors so uh three things, one on the the gamestop report uh, we are pretty close. It's in front of my fellow commissioners, and i would assume it will be out shortly on uh the uh uh and talked about doing a report all right just restart there. So anyway, uh not feeling the best about that the when he referred to it as the gamestop report, and he had that chuckle makes me feel as if it's not i don't know, maybe not a legitimate report. Maybe we're not going to get the information as the retail trading public, like that we kind of deserve about how this all played out and what's going on, and why was there a massive spike in fails to deliver um so right there, the the little chuckle the Report as if what like it's a fake report like it's, not a legitimate report so unfortunately with gamestop, would not hold my breath on that would not hold my breath on some big secret being unveiled by the report.

Uh right there. I mean a little bit disheartening, but what is i would say, more positive, and we were listening to this on the stream. Today is some of his comments that we've been seeing about payment for order flow and to make myself very, very specifically, clear. We are at a time period where the only people who argue for payment for order flow are the people who are making money on it.

I'm talking citadel securities, i'm talking virtue and i'm talking the politicians who are in their pocket. Anyone who is arguing about the positive nature of payment for order flow, maybe they're a news reporter that has a single digit iq or maybe they're intentionally being intellectually dishonest and actually before we get into the comments. I think this is good, so this was from yesterday september 13th. Gensler reiterates that paying for orders triggers conflicts of interest, basically and shout out to dave lauer, let's eliminate legalized robbery for order routing, no more kickbacks just route orders for the best possible execution and have all small orders executed on exchange.


Everyone will win, except for retail brokers and the whole sailing duopoly. Obviously that's vertu and senetel securities, but that's what this is. It is legalized bribery and the only people who are in favor of legalized bribery are the people who are making money on it. It is not a superior trading mechanism for retail or for anyone.

They will argue that you are getting a a better. I guess phil than the nbbo, the national best bit in offer, and actually gensler commented on this - that we're using in antiquated, measuring wrong, because that's not good, because really the payment for order flow current system, it's kind of it - didn't ruin the mbbo, but it made It seem worse than it should be if we were all on competitive markets. The best possible execution dave lauer is 100 spot on with his comments right here, and it truly is an intellectually dishonest argument in support of it, like i said, you're, either making money on it or you're uh you're, a news host that has a single digit iq. It is absolutely silly.

Do i at a certain point, appreciate the fact that it brought so many new people into the market, and it was the first thing that created commission free trading? Yes, but you don't just stop at the first thing. Technology improves, for example, fidelity public, both have commission free trading and they are not using payment for order flow. Obviously, these business tactics have, i guess, in a certain way, they've developed so much that we can still have commission free trading without payment for order flow. The argument is that simple: here are the comments from gary gensler.

I will post this link in the description below, because there are extra details in it. I just want to go over the main points it was written by brian genzler. Zero is in on citadel securities as sec considers payment for order flow ban wall, street's top cop said tuesday, today september 14th, that the dominance of citadel securities in the business of routing order flow may not be giving retail investors the best deal. That's exactly what a lot of people have been saying for quite a while us, sec, commission, chair gary gensler, told the senate banking committee that he's concerned about citadel securities 47 market share over all u.s listed retail volume and right here.

That's why it's the duopoly! Virtue comes in around 25 to 30 percent. Here's what he said, i'm pro competition and i'm not sure that payment for order flow system really is the best competitive landscape we obviously no it's not. The sec has not ruled out the possibility of a full ban on payment for order flow. One more time for the people in the back.


The sec has not ruled out the possibility of full ban on payment for order flow. Once again, mr genzer said, i think, the inherent conflicts of payment for order, flow and rebates on the stock exchange both may make our markets less efficient. So right there. He is tasked with protecting the the markets, the integrity of the markets and making them as efficient as possible and he's identifying payment for order flow as something that makes the market less efficient.

And on top of that, we also have previous comments of where he is saying that it does prompt potentially conflicts of interest. So very, very interesting, and this is something that the ape community has been talking about now for a couple months of hey pfof. Maybe not the best thing for us. There is a reason that it's banned in the uk and canada.

Please remember that so, let's move on and let's talk about some of the market and amc and gme specifically before we get into amc and jimmy which did have red days. Please keep in mind that recently the s p 500. It fell off today, the nasdaq 100. It sold off today the russell 2000 it sold off today.

Three of the major industries, the spy, the qs and iwm - have not only dropped today, but they've been going down for the about the past week and a half and contradictory to that. Yeah amc didn't have the best day. Jimmy did not have the best day, but over the past week actually doing pretty fine, and i know this causes a lot of emotional response and i'm not telling you wrong. I'm just saying: let's be a little calm cool collected about this situation and appreciate that yes, amc did drop today, but don't forget that until that drop happened today of 8.5, it was up 68 and in terms of gme.

We are up a pretty nice before this drop-off today, which really gme didn't drop. That much say it was up. 33 today dropped two percent, so please when in doubt zoom out there's a reason. Why we're saying this? Because the the stock market does have a natural ebb and flow cycle to it, so you're not gon na get every day green green green.

Do i want that, of course, but i'm also trying to be a little bit realistic of the natural movement of a stock so anyway, back to amc, it yesterday got rejected at 53. Today it broke below 50 and we're hanging out at 47.50ish. I'm looking for support to be found here. We have some previous resistance.

We have some previous consolidation good shot of finding support here. We do have a notable support level at 45 and below that we have support at 42.50, looking for amc to catch itself at any of those levels and start to pull a u-turn. I then want it to recapture 50 on volume, which i should point out crazy low volume. Today, 65 million shares traded.


So this sell-off was uh. I would describe it as a very weak sell-off. I mean it's just not many people were participating not only in amc but the market at large. Today, low volume today low conviction.

This could easily get erased as soon as tomorrow, low volume, i'm looking for it to catch itself at support and then rip through 50 53, and then, after that, i will be watching 59. in terms of ortex. There was a net return of 3.7 million shares today and a borrow of 2.9 million now. Does that make sense? Does it make sense that 6.6 million shares could have been returned and in all reality? Yes, one two two days ago and also, if you look at september 9th but will focus on the 10th, that was a break of 50..

I think there's a legitimate shot that some of the weaker shorts, who never thought it was going to get above 50 as soon as it went above it they cut the risk they covered. Their position - 6 million out of 120 million shares on loan, not a drop in the bucket but kind of close to it. I think it's pretty feasible that, as we went above that key technical level at 50 that some of the shorts did throw in their towel and they're like we're done with this, we want to be done with this and they're no longer involved with amc moving on Utilization 90.47 and the shares on loan, taking this into account, probably around 109 million and the short interest clocking in currently at 19.26 percent, the average duration. These shares on loan recently took a nice jump up to almost 64 days, so they've been paying this cost.

To borrow fee, which does change day to day for almost over well actually, in fact, definitely over two months now in terms of the flow, this does kind of explain what we were seeing in the market. I mean the flow was dominated by the bears 53 in favor of the bears and 47 in favor of the bulls. So today the options flow clearly favoring the people who maybe are not the biggest fans of amc in terms of gme jimmy held its own. Everything in the market was red and yes, jimmy was in the red but held on we're hanging out right at that 200 level, key psychological level.

Obviously it's acting as a magnet, both technically and from a psychological perspective. I think it's pretty reasonable that jimmy is adhering to this. I like that strength, and i just want to see it - keep punching upward. I would love to see the break above 28 and a half and then from there about the 212 to 215 area roughly and then from there i'm watching 215.

We do have support between 190 and 188, but jimmy holding up on its own. I think that's pretty impressive in terms of its or text there was a net borrow against it on a borrow share count of 179 000 short interest slowly but surely moving upwards. It's now at 13.75 on a utilization of 36 and shares on loan around 7.5 million. Recently, we did see a decline in the average age of these shares on loan.


It has gone from 41 down to 34, but that makes sense because, with the recent increase, that's indicative of the fact that there's new shorts and with new shorts that inherently brings down the average age of these shares on loan because they're new shorts. So all that does track just so everyone knows and in terms of the flow we could check that out right here once again, uh not as stark as amc, but the flow. The options flow did favor the bears in gme we have a 52 versus a 48. Just so you know so overall would love to get your thoughts on amc and jamie in a comment below.

Please, please, please remain calm. Cool collected one green day does not make us one red day will not break us when in doubt, zoom out we're saying that it's just not a saying. It is very, very important to realize how much we're up don't let one little red day shake your confidence in this situation, but, more importantly at least for today i mean it was kind of a boring day in the market, but not so much in terms of The sec, especially as it relates to genzler and payment for order flow, we'd love to get your thoughts on. Do you think he's just talking to talk, or do you think he truly has our back and is looking to fix some of the broken aspects of our market? Once again, let me know in a comment below and until i catch you next time from me and chair best of luck in the markets, you.


22 thoughts on “Sec banning payment for order flow?!”
  1. Avataaar/Circle Created with python_avatars Kevin Mccliment says:

    Also I penned an email concerning the needed ban of PFOF and that it would not hurt me the little guy as I've already paid for trades. I sent the email to the SEC. Specifically to Gary and the other chairmen.

  2. Avataaar/Circle Created with python_avatars Fisk says:

    I support PFOF as Long I don’t pay commission! I used to pay crazy amount of commission, and wouldn’t mind PFOF. As it is much cheaper! More interestingly I have placed the same order with two brokers 1 which I pay commission and the other which I do not, guess who won? The order went first trough on the commission free broker in the US.

  3. Avataaar/Circle Created with python_avatars alwaystmoza says:

    SEC is so corrupt. He ain't going to do shit. Former HF manager he's made lots of friends and won't hang them. A 5 yr old can easily find out all the manipulation in the stock market especially AmC and GME and yet they still investigating! Total BS

  4. Avataaar/Circle Created with python_avatars shelly white says:

    A guest on The Wall Street Journal Report spoke sometime last week about making over $631,000 in 4months with a capital of $100,000, which made me realize that as a beginner i have alot to learn, so please assist me with any pointers or tips that would help me make this much profit.

  5. Avataaar/Circle Created with python_avatars Zebulon Norton says:

    Gary talks too much and is not the guy who will do whats right for retail investors. He is already trying to muddy up crypto and needs a deeper understanding of what blockchain is.

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

    So much for his "THIS IS GONNA GO UP DUMB MONEY CLUB" .. This guy stay's a idiot..Wake up people!!!

  7. Avataaar/Circle Created with python_avatars Gregory Rondon says:

    The Retail investor is not getting the best execution on the market .. In My Opinion the Sec is aware of the current status of what’s happening . Everything. Is Sequential, until the green light is given … Godspeed to all you apes ..

  8. Avataaar/Circle Created with python_avatars Crestline Capital says:

    Hello guys, we’re an lnvestment management company based in the U.S.A. Hopefully the 30 secs video in our channel can give you a greater understanding of what we’re all about. Cheers!

  9. Avataaar/Circle Created with python_avatars Spyro The Creator says:

    Smh the end of commission free trading, and then they’ll complain the fees are too much for retail investors

  10. Avataaar/Circle Created with python_avatars Flip S says:

    Gary “do nothing but talk” Gensler did nothing at the CFTC and will continue to do so at the SEC. all talk no action. Nothing new

  11. Avataaar/Circle Created with python_avatars Les Red says:

    In the UK PFOF is banned. Our interactive brokerages provide commission free trading then charge a small percentage to withdraw funds✌🏾🇬🇧

  12. Avataaar/Circle Created with python_avatars Sebastian Guerrero says:

    "..oh hi Matt!" can you please alternate between the old intro song and the new?
    🙂
    I like the new one but LOVE the old one. It got me so jacked everytime I turned on your videos.

  13. Avataaar/Circle Created with python_avatars Rose Lunna says:

    The reality of the rich and the poor is this: the rich invest their money and spend what is left. The poor spend their money and invest what is left"

  14. Avataaar/Circle Created with python_avatars Kev Ridge says:

    Some fundamental has to change to prevent the can being kicked down the road for months. FTD'S….margin calls… quad witching…..key SEC dates all have had little effect and HFs are carrying on regardless…..hope this post is a commentstors nightmare and is a catalyst

  15. Avataaar/Circle Created with python_avatars JT P. says:

    Maybe he's chuckling at her trying to define it as a report when it should be referred to as an investigation? Just a thought.

  16. Avataaar/Circle Created with python_avatars House Of ERS says:

    I think that some of the information he has found in his report on "GME" is leading down this path of PFOF. And how he talks about the market system being 16 years old. Hopefully planning something big. But idk really

  17. Avataaar/Circle Created with python_avatars CzechAmerican1 says:

    We are fine fellow primates. Step away from the chart, take a break. Set alerts.

    The markets take the green steps up and the red elevator down and then eventually back to the steps . They always have and always will. Stay strong and hold. Don’t ever risk more than you can afford to lose.

    IMO the Shorts will cover after they crash the market.

  18. Avataaar/Circle Created with python_avatars Robert Whitehead says:

    Matt been here since January love ya but please stop bring up others shares bbig ater and so on then just down it. Still have 4k in amc and if I'm going to watch you anymore understand people buy and yea takes risk of losing on charts you put up. Stop please downing something you were bullish on and just because you're not in so you just downed it today saying this is a learning time why you should get out when it goes down this much. Today every stock went negative and you made everyone feel like we should sell off our shares. You say one thing then go the other way just understand we all want to make money and yea will always go to amc for me.drunk moment hope you understand I do want all to make money!! Love keep rock and happy birthday mark🥃

  19. Avataaar/Circle Created with python_avatars Steven Medina says:

    Any professional that shrugs their shoulders, chuckles while saying "Report", and throws up air quotes is not doing anything. He's part of the problem not the solution.

  20. Avataaar/Circle Created with python_avatars greg says:

    Does anyone know how it’ll work regarding synthetic shares ect …. when they cover the 120 some odd million and that part is done what happens to all the synthetic shares ect do they stay hidden or do they take the place of the outstanding shares , basically how would anyone know when those synthetics are covered if ever or do they stay hidden

  21. Avataaar/Circle Created with python_avatars Devin Jewell says:

    Personally I think we will either drop a few more % 2-4 maybe. Or we’re ready to retest 52 area. But I’m maybe 70 percent bullish

  22. Avataaar/Circle Created with python_avatars Dwayne M says:

    They already have the tools and power to shut down DARKPOOLS.
    Garry needs to get off his but and start banning DARKPOOLS!!!
    ALSO BAN DARK FIBER!!!
    Whe they shut dark fiber down for a few days AMC SPIKED !!!!

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