Hey: hey: hey! What's going on moon gang, this is your market wrap up with me matt for today, wednesday? What is it june? 15Th, better known as fomc day we're going to be talking about the fed and the interest rate that they just hit us with the interest rate increase the biggest we've seen since 1994.. I want to talk about that and why i'm a little bit bullish on the entire equities and crypto market, at least in the short term, and i also want to end this up with something very crazy. I'm seeing the short sellers are hemorrhaging money. I was looking through some of our favorite equities and i noticed that one of the costs of borrowers is over a thousand percent, which means that it's very, very expensive, very, very expensive, to be a short seller.

So i want to dive into that and explain exactly what it means, but before we get into all that, if you want to know what i'm trading day in and day out, yes, you could pay attention to the streams which make sure you hit that, like button And subscribe turn on your notifications, so you know when i'm ever going live, but sometimes i'm trading when i'm not actually live streaming. All of my trades are posted in locals, so that's pinned to a comment below and now with all that other way. Let's get right to it so today, at 2 pm et we got the decision from the federal open market committee, the fomc, a bunch of people in fancy, not so fancy suits that have pedigrees on their wall. That tells them they're kind of important people.

I don't know that's up to you, but today they hit us with an interest rate increase of 0.75, the biggest increase since 1994.. A couple things i want to talk about the last fomc meeting. We were told they're, not even considering a 75 pips increase. They said.

That's crazy, not even on the table, in fact, all the way up until thursday of last week it wasn't being considered, but then after we got that cpi report, the consumer price index report that thing that told us inflation is point: six percent aka a four decade. High, that's all of a sudden when the odds of the 75 bips increase started to rise, and then early this morning before we even saw it like monday, was uh tuesday. It was around 30 percent and then this morning is pretty much locked in at 99.9 percent. So pretty crazy, it was higher than most people expected.

We were looking before this at a point: five percent increase: that's basically what we were told and then it came out of nowhere so quickly that when jerome powell, the guy who's, the chairman of the fed, when he was being questioned today at 2, 30 a half Hour, after all the results, they always have a press conference which, if you want to check that out, it's a live stream on the channel. They were asking them they're like what do you feel about the fact that, like kind of a lack of transparency, you told us 50 bips in 75, like? What do you think? Do you think people trust you? Do you think people trust you to get the job done when these types of things happen, and i would love to hear your thoughts in a comment below, but he was saying yeah. The people definitely trust us. Most people trust us, and i don't know i literally audibly - laugh because i think there's a lot of distrust for the fed and government and the treasury secretary.

There's always an excuse of hey. It's a really tough job, hey what about like putin and russia and ukraine? Well, it's just transitory. I feel like it's always excuses and never really results, but hey. That's just my own opinion.

What you need to know about this is we got the results at 2pm and at first it dipped and then pretty much as soon as jerome powell started speaking, we ripped up, we took another breather and then we ripped and we kind of sold off into clothes. So, even though it felt very volatile, i was actually expecting more volatility and at the end of the day we were green. So that was a win. The s p 500 was up 1.4, the nasdaq great time up 2.5 and then the small cap sector, even up 1.4.

So it might not have really felt like it, but it was a pretty green day and i want to talk about more of how. I think this is actually going to lead to a bit more green in the short term, but just very quickly the dollar, which is tracked by dixie dxy um the higher. This goes, that's not good for the market, and you can see that actually came plummeting down. Well, not plummeting, that's a bit extreme, but in the world of the dollar.

This kind of is plummeting in such a short period. But what i thought was weird was how, in this scenario, when you're talking about inflation and maybe some volatility in the market and recession and that type of stuff, you don't see the gold moving in lockstep with the spy or the queues, usually they're, moving inversely of Each other but bam, look at that gld going up right when the spy does just an oddity that i wanted to point out to all of you and also quick, shout out to amc beautiful gain of seven percent. Very, very nice game shot up held throughout the day, jimmy in the green up 2.5 and rd bx up 8.62 percent, shot up and pretty much held throughout the day. I'm bringing those up, because i want to talk about those at the end.

But before we get into that, i really actually want to explain what's going on with the s p 500. Basically, we had this period right here and if you were watching any of my videos, i was talking about how i thought we were in a bear market rally and in fact i think we might be having another one. So now that we sold off people were very, very worried. The cpi report super super negative and then we were trying to figure out.

Okay. Are they gon na hit us with a point? Five, a point: seven, five, a one: how hawkish is the fed going to be what's going on with quantitative tightening? Well, we got all those results they are done and now those uncertainties, those unknowns are taken out of the market and it coming at 0.75. It's a medium point. We can tell that the fed is taking inflation seriously, but apparently they're also not going to hit us with one percent where they could take inflation more seriously, but that would most likely, in the short term, have a super big hit on the market.

I view it like this: we're swallowing a painful pill now to fight a serious disease. Later on the more painful the pill we swallow now, the better of a chance. We have fighting off the disease known as inflation, maybe stagflation, so it's a big balancing act. They don't want to crash the market now they don't want to send the market into a recession.

Now, actually one of the journalists was asking jerome how that they're, like? Are you trying to send the economy into research? You're like no i'm not so pretty a hard line of questioning, but here's what i see i want to make this clear. I think the market's going green, i'm looking for an upside gap, fill to 389.75 and 401 444 gap fill one capital two also the low of june 10th, the low of june 9th. I am bullish in the short term. I want to clarify i'm saying in the short term, because i think when we get there, it's going to turn back down.

I do not think we've seen the low in the overall equities market or the crypto market yet in 2022. I think we still have more to sell off, but in the very short term, i'm looking for an upside gap, though so short term, i'm bullish in both equities and really crypto, but i'm not yet dollar cost averaging and adding to my long term account because i Still think we have a little bit more pain to go and obviously, when i decide to dollar cost average in my long-term account, hey i'm not a financial advisor, but i'm more than happy to let you know what i'm personally doing so. Obviously, if the market goes up, the spying crypto, that's going to be good for all the other individual equities, such as amc, gme redbox. So since we're talking about those, i do want to share amc close to this trendline breakout, i'm going to be watching.

That has a short interest of 23 percent cost, a borrower of 20. that is slowly but surely going up. Utilization maxed out and shares on loan now back up to 195 million, an odd drop-off and then a huge spike. That's wonky, but it also probably relates to the cost of our going up a bit more because there was a high demand to take those out on loan now very quickly with gme.

Once again, we found a bit of support, same support, we've seen before potentially double bottom scenario. I want to see how it reacts to 141 22 short interest: 41 percent cost to borrow 100 utilization and shares on loan roughly the same just below 22 million. Now this is the crazy one rdbx, i want to say some good things, and then i also want to let you know about some bad things, because i think you need to take in both thus far a good day. It was up 8.6.

Any green day. Is a good day - and this is the insane thing. Yes, it's absurd that the short interest is 226 percent, but what's insane, this is the highest cost. To borrow i've ever seen the average cost of oil we're not even talking about the max we're talking about the average is over a thousand percent.

That means that the short sellers who are still holding this, which is apparently quite a few, are hemorrhaging money. They are absurdly hemorrhaging money, that's the highest cost, to borrow i've ever seen and remember this isn't a daily rate. This is the annual rate, so you take it and divide it by 250, multiply it by their position and that's how much they would pay per day. But that's a lot of money.

I've never seen a number. This high utilization is maxed out shares on loan. 3.5 million, which - and it's on the threshold list, speaking of the threshold list - i i need to show you this. This is insane.

This is absolutely ridiculous, so i just turned on the fail to deliver which was reported by the sec today. So, as of the 31st rdbx has 1.83 million shares that something's not happening like they failed to deliver something's, not good. On that particular day, 1.83 million. You want to see something absolutely bonkers.

The free float, the shares that you and i can trade. It's only 1.95 million, so almost 100 100 of the shares that are publicly traded almost 100 failed to deliver. As of may 31st. That's ridiculous and then, when you put that, together with everything else, that's going on the fact that it has such a high short interest.

Such a high cost to borrow it's a powder keg, it's a powder keg waiting to explode. Does that mean it's going to explode? No, no one can ever guarantee it. Nothing ever has to happen, and that's where i want to show you maybe a little bit more of the bearish side of this argument. Rdbx ever since may 13 has been ripping ripping ripping ripping, and then we had this red day and hey that's fine.

It was a gap up and it went red gap filled. Hey, that's, okay. What i don't like about this is the next one. On june 14th, it closed below the previous day's low.

We obviously closed here at 1009, the previous close or the previous low was 13.72 to me, that's a red flag. Does that mean that the play is definitively done? No especially because the next day it was followed by an inside day, and we do have this gap fill at 8 56. So i wouldn't mind if it bounced off 856. I very much for rdbx, at least in my mind, to still be alive.

I want to see an upside gap-filled to 1372, the low from june 13th, and then i want to see a continuation if it gets a gap filled to the downside, 856 and then continues to sell off the play might be over. I just want to bring that to your attention to be a bit more balanced. I have no rdbx position. I wanted to point out the insanity.

That's in favor of the people really paying attention for this thing to rip to kingdom come which is totally possible, but you also have to, at a certain point, pay attention to what's going on in the charts just to be a little bit balanced. But i have to admit between the high cost, to borrow and those fdds it's extraordinary and just literally the cost of our loan. That shows you how much the short sellers are just hemorrhaging money on this particular play. So if you get some of that upside momentum, you never know where this could possibly go best of luck for whatever you're playing you are possibly in.

I appreciate you watching the video don't forget to hit the subscribe button drop a like and i'll catch you in the next video peace out.