What's going on moon gang welcome back to another dumb money update today is wednesday august 11th. Now, not only in amc and jimmy, it was kind of a boring day a little bit of watching paint dry on the wall across the market. We saw things drop in the morning kind of base and then, by the time we got to the market, close things were pretty much break even amc closed out the day at 31.55, which was a drop of 0.6 percent and jimmy closed out the day just below 159, which was a drop of 0.17 and honestly, the same could be said for many many stocks in the market at large. So with that, i'm going to make this relatively quick, but there are some important things i do want to hop into in terms of the overall market, the s p, 500 ding ding ding.

We did make a new all-time high. I quickly do want to point out the bearish divergence in the rsi. The market has gone higher, but the same cannot be said about the rsi. If i had to throw out a prediction right now, i do think it'll kind of slowly melt upwards and maybe some levels of resistance you can pick out.

I mean, since we've never been here, you do need to let price discovery play itself out, but one technical tool you do have is kind of a fibonacci extension. So if you're familiar with that, you could do it um, i'm not absolutely in love with that technical breakdown, but it's it's better than nothing. Let's put it that way, but overall i do imagine that this will continue to melt up in terms of the russell 2000, which is tracked by the etf iwm. The reason we talk about this is because amc is a part of this index today.

It showed a lot of strength very weak this morning and by the end of the day it broke above 223.70 next up. I honestly think, for this is if it can get above 225. Not only do we see some previous resistance key psychological level, but after that i will be watching 227 from there. I very much want this to go up because it very directly provides headwinds and tan wins for amc.

So, as i see green in this, i do think that it does in a certain way, maybe not directly but kind of indirectly assist with amc. Speaking of amc, let's check this one out so amc we had a double bounce off of 30 right here, so this is where we previously bounce around august 4th august 5th bouncing off of that tomorrow. I want to see it take out 33.50 and then pastor i'll, be kind of watching 36.37 for a bit of a better view on this one. This is exactly where it bounced previously we're looking for it to hold a slightly higher low.

We know the region between 27 30 30. It is support well. Both of these regions are truly support. These two established regions right here looking forward to continue upwards, mainly watching 33.50 for tomorrow and then from there.

Obviously, the higher the better in terms of the ortex numbers on amc, huge amount of borrowed shares against it, 4.38 million. So the short interest is now up to 18.48 remember. This is 60 of the transactional volume when it's updated live and then, when we get the updates in the morning on the top bar here, that's about 80 85. So i wouldn't be surprised if we're going to be in this neighborhood, but it might be a slight difference.

The shares on loan, when you take this into account, probably pushing 109 million utilization, also pushing 97 98. That's my guess. As of now, the one thing i kind of want to point out here is: if you're on ortex you go to the three month chart you're going to notice that there was from yesterday today a sizable jump in the short interest. I just want to quickly explain what happened there.

So if we get dropped this, if you rewind all the way back to july 30th, you'll see that yesterday we got the exchange reported short interest. This came out yesterday. The settlement date was july. 30Th.

What does that mean? Matt? Basically, it came out yesterday, but the data was valid and it was for july 30th. So on july 30th or tex was estimating 77.2 million. That's why it says estimated short interest and then the exchange reported short interest was 85.8 million. So, roughly off by six seven million so because they were underestimating it in the overnight session, they had to readjust the models because really estimated estimated estimated right now they're doing their best to estimate because they don't have all the data.

That's one of the biggest issues of being a retail trader. Is we don't get all the information so they're doing their best for us of what they can and they were slightly underestimating, so they went back obviously had to adjust it upward, and that is exactly why we saw a jump and right now the current estimated is 94.54 out of the shares on loan of 105, and when this does update in the morning, i'm fully expecting this to go higher. With other amc news. We get some information from the quarterly reports.

Remember 13 fs are forced to be followed by anyone who manages over 100 million dollars in like assets under management aum and every quarter. They have to report their long positions, their calls and their puts right. Now. It is being heard by congress the u.s house, if they should actually be not only reporting more frequently instead of quarterly down to monthly and on top of that, starting to report shorts.

So i personally do want that to pass, but right now this is what we have, and i want you to take note that the effective date is june 30th, as in the data was valid as of june 30th. That was the end of the quarter, but we're getting some of the information from june 30th being reported right now, and one of the interesting ones is blackrock. Why is it interesting? Well, it's because they have a shitload of amc. In fact, they have 30.4 million shares of it and if you come to blackrock's history, also on fintel and then search amc last quarter, they had 27 million.

This quarter now they're reporting 30.4 million. So that's an increase of 3 million shares or 11.51. So some of the biggest players in really wall street and specifically that have been tracking amc, they're increasing their position. So i get it we're dumb money.

Mainstream media is going to always cost some money, but it's kind of interesting that smart money is also hopping on this play and not only hopping on it but increasing their position on it. I find that to be very interesting and i don't think it's that bad. I have an idea to kind of draft some of the biggest i guess most aggressive smartest players on wall street, i.e blackrock. So i'm taking this as a very positive sign.

Now, let's switch it up a little bit to gamestop their ortex numbers. Utilization 44 shares on loan seven million and they have a short interest of 10.75. Today there was a small net return, so that dropped the short interest to 10.53 in terms of its chart. If we check out gme, we did find this support today.

Let me zoom in a little bit around 157. I want the breakout of 164 and then the next test would come at the key psychological level of 175, and then we have to kind of watch very close up to 200. in more of a detailed view. If we look at the two-hour chart, this is the exact support that we kind of bounce off of right here at 158.

Next, one 164 support resistance resistance. I want that breakout and then that sets up this test right here in the 174 to 176 region. That's why i keep saying 175 and then, after that very much watching 188, but overall, i do like it how it found support at 144. That's where it previously bounced in late april.

It acknowledged that and then not only did we see some bullish divergence in the rsi we're seeing the kind of the follow through on it. The only thing i really want to say about jme here is: i want more interest more volume right now we're seeing low and lower volume. We need people to get re-interested in it and kind of that's how we're going to see more of a trend. More volatility, more of a follow through, so that's the one thing on jimmy i do want to see kind of the volume turn around and really start to pick back up before i let you go the one thing i want to say right now.

I feel like i've taken this super chat. Mat thing to the next level very excited to bring this to you from the time you're watching this. Until sunday of this week, i made some super chat, matte shirts and, as you can see, 100 of the profits we'll be going to st jude children's research hospital every single cent, every single cent that we make in profits from these the super chat, matte shirts - will Be going directly to what i perceive to be an amazing cause, an amazing charity. So if you want one of these shirts, they are going to be limited edition.

This will run up to sunday after sunday, you're not going to get these anymore. And after that i do have some other things of how we're going to, i guess, help with increasing the donations to this. But overall, i wanted to point that out. The link to both st jude and also the moon, gang merch website is in the description of the video.

If you want to check it out, but hey, i just figure we're helping out a lot of the apes in the market. Why not help out some of these baby apes that really could use a helping hand at this moment in their life overall, that's what i have for you, quick update on amc gme, and i hope you were able to find some utility in it. If you want to help me out the youtube algorithm, don't forget about all that good stuff like subscribe, and until i catch you tomorrow for me and chair best of luck in the markets, you.