What's going on moon gang welcome back to another dumb money weekend update, i'm your host matt and we're here to talk about stonks, we'll be going over the technicals and the short interest data points for both amc and jimmy. But i really want to dive into the storyline. That's been developing that basically, allegedly the sec is looking into the president of robin hood for some potential nefarious actions based on trading amc before they decided to stop everyone from buying stocks such as amc and gme. So with all that being said, let's hop right into it.

So just so you know we're at in terms of both amc and jamie to close out the most recent week of trading and kick off the first day of trading in october. Amc is at 38.46, which means over the past month. It's dropped 12 percent, but from the start of the calendar year until right now it's up 1700 and in terms of gme. We are around 177 over the past month, we're down 17, but from the start of the year until right now we're up over 800, but before we dive into more of this.

Just so, you know in terms of the overall market - and i want to bring this to your attention because it does seem like amc and jamie, have kind of been really appreciating. The headwinds and tailwinds that are presented by the overall market, specifically the spy and, more so amc we will talk about the russell 2000, which is tracked by iwm recently, the overall market not looking the best just we had the whole evergrand situation, the government shutting down The debt ceiling, all of that the fomc, whatever the federal reserve is doing, isn't doing, is inflation transitory. Is it not transitory a lot of things where people just didn't know the answers and when there's unknown things typically, that is not good for the market and people like to go risk off, but as slowly but surely as they're getting solved one by one. We are seeing some buyers starting to step back in at certain circumstances, but right now the main thing we still need to pay attention to is the debt ceiling and the magic date for that is october.

18Th. So please, please be cognizant of it in terms of the spy. I am looking for a break of 436 and an eventual gap fill up to pretty much 442, and just because we've talked about the russell 2000, which is tracked by iwm. This is important just because it so happens that amc is the biggest stock within this particular indicy, but anyway we see some buying stepping in bounce off of the support at 2 18., i'm looking for a continuation to 224 and a half and we get lucky.

I'm looking at 226., but before we get on to more of the specifics of the technicals of amc and jimmy, i do want to talk about kind of this interesting story related to jim, the president of robin hood securities selling, some amc, probably before he should have Now, if you're like me, you might have noticed that there's a tough time finding the specific court document, i will link both of these below, but just so you know, there's one of them. That is document 409. There's another one. That's document 416..

They are different, as you can see here, 137 pages, and this one has 83.. There are two different ones: different things uh. This is the amended consolidation class action complaint and this other one is the corrected consolidation class action complaint two different ones. I will link them below, but for the one we're talking about it's going to be on the one that it has less pages and if you go to seven of the pdf and then look at 12 right here, so robinhood knew at the highest levels of the Company that its risk management system was strained to the breaking point during the week of january 25th.

This is kind of the first week that all these things would absolutely gangbusters robin hood security's president and ceo jim lieutenant points to as making the ultimate call to pco. Pco stands for position close only as in they stopped everyone from buying stocks, such as gamestop and amc, says in an internal chat on the 26th, i sold my amc today fyi tomorrow morning we are moving gme to 100, so you are aware i find this incredibly Interesting so, basically tenet the ceo of robin hood pointed out that jim is the person who made the ultimate call to stop to basically pull away the buy button right before he did that you know what he did. He said he sold his amc and he's informing. I guess kind of i don't know who he was necessarily speaking to in this conversation.

It might not be ten of, but whoever he was talking to in this internal chat, he's informing people that they're moving jamming to it like. As of what like he's telling people, if you're in jimmy you should get out, i already pulled the rip cord on amc seems crazy, crazy. Now, obviously i don't i'm not a lawyer, i'm not a financial advisor, i'm none of that. So i don't know if this is technically insider trading because to my understanding of insider training, it's when you have inside knowledge of that company, such as like a financial report or a big announcement, and you trade ahead of that and it's like financially beneficial.

This is almost insider trading, based on a brokerage where a lot of retail was at at that moment in time, and it knew it had a big impact so whether it is or isn't insider training. I would strongly argue that this is highly immoral and i would argue that a lot of prosecutors out there would say that it's also some form of being illegal. Well, we do have an additional development. We've been talking about this for the late latter.

Half of this past week, but a lot of people were like well, man like the sec needs to look into it, and i've been very outspoken, critical of sorry, charlie here, charles gasparino uh, for very various reasons. But you should know that whenever he says breaking, it's probably not breaking, but right here this was getting picked up by various people. Sources say would love to know who these sources are. Robinhood app believes its president.

Jim didn't benefit from the timing of his sale of amc since it's later traded higher than his original sale of five dollars during the jan meme stock frenzy. More now, well, first of all to my understanding once again, not a lawyer, not a prosecutor, none of that it doesn't matter. If you actually made money, he actively made a trade on an information that he probably shouldn't have been training on. It really doesn't matter if you're making it it's.

Not our fault that i guess jim is not that good of a trader, it's more. So of did you trade on information? You shouldn't have been trading on, but also just so. You know it is charles who, i guess is making the statement kind of, or i guess the insinuation that the sec truly is looking into this matter. So as this does develop, i'm gon na obviously keep you posted on everything that is or isn't happening.

Uh. Obviously, uh from a personal perspective, i do believe that the esc should look into this uh. It seems kind of crazy, but one second very quickly. He also later said it's odd to me that amc apes think that the news of robin hood at president selling shares during the meme sock frenzy means that they should buy more amc.

It's odd that some of the apes think it's a sign of the moes that never seems to come. No apes think this no one's saying, oh because jim sold back in january. This is now my reason to buy uh this right here i mean i day in and day out, i'm hanging out with the ape community. I have not seen a single inkling of the fact that people are choosing to buy because jim sold back in january.

This is actually a ludicrous notion and i just wanted to bring it up, because what? Where did he get this? What's your source on that? The sources are, i think some of them are going to be purely fictitious, but i just want to point out there. I have not seen a single shred of evidence that one ape within this community decided to buy more because jim sold his in january. If anything, i think the apps are just saying hey this thing that we've been talking about for the past 10 months now of something going on, that shouldn't be going on trying to get the regulators to truly look into it, it's more of like hey uh. We now actually have some seemingly some evidence that suggests we were right all along, but no one's been using this of like what exclusively gym selling means that we buy more.

I find that to be a little bit crazy, all right. So now, let's talk about amc, gme, the technicals and all the data behind it. So right now amc we had a nice push from mid-august all the way up until mid-september a nice month of going up up up and now from mid-september until the start of october. The most recent half month, not looking the best, but with that being said, it looks like this bearish train this bearish trend, the momentum we're seeing, might finally be turning.

So i really like this bounce off of 3410. It's exactly what we've been kind of watching this mid consolidation from basically, let's just call it mid july up until the end of august, but anyway we bounced off of that had a beautiful day and right now we're kind of in this mid region. We do have support around 37 i'll closely be watching that, but i think it all comes down to the breakout of 41.50 and from there i'm looking for a very quick gap, fill the gap from september 17th until september 20th, very quick capital up to 44 20.. So, in terms of a short term, medium term target, that's what i'm personally looking for, but just so you know there is support at 37, there's also additional support at 34..

Obviously, i know which way this will or won't break those are the levels of support and resistance. I'm watching, and i'm also specifically going to be paying attention to this macd as it gets closer and closer to bending back around into the bullish apish territory. I'll feel much more confident of in a quicker time frame, getting the gap fill up to 44.20 in terms of the short interest data. So, on friday october, 1st, the borrowed shares was 1.37 million, with a net return of 716 000, which puts a short interest very high within striking distance of an all-time high at 20.5, the utilization is 85.4 and the shares on loan.

Given this action is probably around just below 114 million and as you can see from this green line, the average age of these shares on loan aka the people continuing to pay the cost, to borrow fee day over day over day, very, very high. In fact, almost a record high just below 70 days and finally to wrap it up for amc the options market, as in the premium, was a bullish bearish to close out the week on friday. It did slightly favor the bulls. We were at 51 versus the bearish premium of 49.

Now, moving on to can't stop, won't stop gamestop under gme right here same thing in terms of the macd it's getting a little bit smaller. I am looking for that crossover, but in terms of the support and resistance, i've been closely watching the support at 170.. We recently bounced off of it and back here in mid-august it was serving as resistance, so it's very obviously an important price level. I'm looking for the bounce and the continuation and from a different technical structure, i'm seeing the hint of a little bit of a bull flag as it was trading up.

Then it went down in a parallel channel like you could see these top parallel lines. It's not the best one, but this is typically a bullish structure. The caveat is: how long is it going to build out before it actually breaks upward if it does break upward? I do understand that the odds are in my favor, but just because they're in your favor does not mean it's guaranteed, but anyway, looking for it to hold above 170 175 would love to see this retest in the short term of 188, 190 and then from there. I think that key psychological level of 200 will continue to act as a magnet.

So that's what i'm looking for on gme on friday, the borrow change was 136 000, with a borrow of almost 370 000 that puts the short interest around 15.7 percent utilization 36.5 and shares on loan actually now over 9 million, and since we covered it with amc. Just so, you know the average age of these shares on loan. Continuing to pay, this cost to borrow fee is around 35 days and finally, the flow also bullish for gme. We have 51.5 versus versus 48.5.

So that's your quick wrap-up on amc and jamie in a technical and short interest point, but really what i find interesting right now is more so of what's actually going on um from the legal sense. We seem to finally be getting some traction of people bringing it to light building. Hang on man like we're, seeing some crazy things, and it's just not these people on the internet, who are like screaming wolf, it seems like there might truly be some nefarious, potentially illegal, illicit activities that truly went down on january and for all i know, maybe things Have been continuing ever since, but obviously as the story develops, as the narrative develops, i'm more than happy to kind of keep all of you up to date on it, because i find it truly fascinating with all that being said, i'd love to get your thoughts on Amc gme, but also what do you think about the court case? What do you think about? What's going on with robin hood and citadel in the background, and not only that, but it almost seems as if on twitter. At least it seems as if citadel securities is kind of in like damping out the fire mode, and it seems like, as if they're almost trying to throw robin hood under the bus.

So i'd love to get all of your thoughts on that. In a comment below, and until i catch you next time for me and share best of luck in the markets, you.