It's true. What if I'm not good? hey sorry I'm crazy good morning Foreign brother, Good morning, good morning, good morning. Welcome back to the Mad core show! Today is Monday July 24th and boy oh boy are we about to have an explosive week in the market. We have a lot going on.

We're in the middle of earnings season this week. We're going to be hearing from the likes of Mata Google uh, Snapchat many many others. We're going to get a lot of massive macro economic reports such as the Fomc Meeting decision, consumer sentiment uh, the GDP report for Q2 It just goes on and on and on. Obviously, the market has been rippity skippity doo dah in the second half of last week.

We initially started to show some weakness. So is this going to lead to an actual correction? or is this just a little baby breather and we're gonna keep ripping? Obviously time will tell. I'm expecting nothing but crazy explosive moves I Don't know if it's going to be to the upside I don't know if it's going to be to the downside, whatever side it's on I hope I'm on that side because on Friday I took a big hit in my account. so I'm a little bit in recovery mode just that whip saw I just was not good I just got whipped to the upside whipped to the downside I suppose it's death by a thousand paper cuts from me on Friday but hey, it is a new week so I hope everyone's ready I hope everyone had a relaxing, restful weekend I Hope you're ready to hopefully make some massive, massive, amazing trades in the market this week.

Um, good morning, good morning, good morning. If you haven't already, make sure you hit the like button, make sure you subscribe. we're obviously Live on YouTube Rumble Twitter we're doing it all I See a lot of people talking about what's going on with AMC and Adam Aaron Honestly I know I mean I could see it I See a lot of you guys are fully expecting me to go into some sort of rant. but what could I say now that I haven't said before, Adam Aaron has proven himself time and time again to be screwing us over, even take the most recent developments on.

Friday after the market closed because of a legal decision, AMC went up ape, went down before the market even opened before people even had an opportunity to maybe lock in some of their gains with calls if they were degenerately trading that? Not that I'm saying it's a good idea, but even those people, he puts out a letter basically saying oh, remember how I talked about wind pounds, shorts can choke on that We're not going to do bankruptcy anything. Well, in his letter, he's basically begging for our money. He's like please please please I messed everything up and like I need you guys to give me more money because I don't know how to run a company and now it's coming down once again in pre-market it's getting hit because of his letter. so people feeling super Good Friday evening feeling super good Saturday and then he decides without a minute of actual trading to put something out that he knows is gonna hurt the stock price and yet there's people who'll still defend them how? I I would honestly I Want to have a very calm, cool, collected conversation with someone who is actively still defending? Adam Aaron because there's nothing about it that makes sense to me.

like I don't really have much more to say to it because like there's nothing new to add on. it's the exact same story with just like little twists but time and time again Adam Aaron is spitting in the face of retail Traders That's that's how it's going. If you are defending him, you're either not paying attention, you're stuck in a cult, you're a sicko fan. I I Don't know what it is, but the whole situation is crazy.

It's absolutely crazy. Uh, for me over the weekend. speaking of AMC I ended up seeing Barbie um obviously as if you guys follow me on Twitter I Decided to see it at Regal because Adam Aaron is an absolute grade a scumbag and I decided not to give AMC money I like movies and I want to support these So I decided to go to Regal and it was an enjoyable experience. Maybe if Adam Aaron just admits he's a complete freaking douchebag and maybe if there's a new CEO maybe if he goes to prison, maybe if there's I don't know if maybe things change, maybe I'll go back to AMC but for now I had a very enjoyable time at Regal Still going to be supporting movies still going to be supporting theaters.

just happens to be at a different chain so that's where I'm at anyway. I did see Barbie I thought it was about 20 to 30 minutes too long. I know a lot of people are trying to act as if it's some like big statement piece on gender roles and patriarchy and all that stuff and honestly I didn't go into it with like that deep of thoughts prepared I kind of laughed Ryan Reynolds and Michael Sarah made the movie. They were absolutely hilarious in it.

they had me like cracking up I still thought it was a little long but it's not a movie I'd ever re-watched like it was fine I saw it I don't think it was a particularly good movie, but it wasn't a movie I hated I watched it one time I can say I watched it I laughed a little and I'm never gonna watch it again I haven't seen Oppenheimer Oppenheimer Very difficult to get tickets for. well actually they both were but I want to see Oppenheimer I haven't yet. As soon as I see it I'll give you Matt's official rating of it I guess in terms of Barbie if five is normal I'd put Barbie at like a 4.5 maybe a five just kind of like a whatever forgettable movie like Top of the Bell Curve I wouldn't call it good I wouldn't call it bad I would just say oh, that's a movie I'd give it a 4.5 or a five um I haven't seen Oppenheimer I haven't seen the sound of Freedom so as soon as I see you, they're those. um oh did I say Ryan Reynolds my my apologies Ryan Gosling I was just reading about Ryan Reynolds because of I don't know how many of you watch F1 but he with his investor group now owns a piece of Alpine and Alpine at the Hungarian parade this past weekend on Sunday uh perform very very poorly so I was trying to see if like he had any commentary or reaching out searching that right before this so my apologies but I got a little bit too into uh a little bit too into the F1 Hungarian scene and also shout out to the McLaren team because they really did perform this weekend.

Really did perform this weekend so that's what it was about. Um, for those of you who've seen Barbie Barbie Barbie Do you think I'm crazy? did you guys like absolutely love it? Or do you think it was just like a super Middle of the Road movie? Um obviously it's made funny by Michael Sarrets made funny by Ryan Gosling Margot Robbie's obviously an absolutely gorgeous beautiful woman so and she's a great actress too. So like those three together, that's a great movie. Um, or it has like great chemistry or whatever.

it works to a certain degree. but I don't know there's something with the story I thought it was a little too long, like it was just kind of like is what it is I don't know. middle of the road gave Barbie a 2.5 a little low I feel I mean there were some parts I mean maybe you didn't find it funny? uh but I did laugh a little I heard Oppenheimer was good I heard the same thing about that though that feels a little bit long I don't know I haven't seen it but um so I want to watch Oppenheimer and the sound of Freedom when that movie I think was kind of supposed to be like a not impressive movie at all, but because it kind of became culturally significant, that movie's destroying it at the box office, especially relative to how much it costs to create that movie. Um, and that just shows the power of like culture and community and things going somewhat viral.

Um so I want to see that one I Want to see Oppenheimer honestly I want to see that new Mission Impossible movie too and depending on how things play out with AMC specifically how things play out with Adam Aaron being a grade a scumbag I might just be going and seeing him at Regal because I can do what I want and it's my money. So I don't know. we'll see how it goes for those of you who saw Oppenheimer for those of you who saw Oppenheimer Do you like it? What's your? I Want the official Oppenheimer scores in here out of 10. 0 to 10 for the people who saw Oppenheimer The only thing I've heard about it is it was really well put together.

really well acted I mean it had an absolutely star study cast. The only real draw down I heard was it was a little bit long. like they kind of probably could have cut 30 45 minutes from it like that type of a thing. Uh, eight out of ten? Excellent.

Ten Eight eight. Okay, so pretty. um pretty high scores. pretty high scores.

interesting I Saw a lot of people were doing like a, um, like a double viewing where they just saw one movie and then right away went into the other one and I was like dude, that's like sitting there for five hours straight. That seems a little long, especially if they, um, were just dragging on a little bit. dragging on a little bit. So anyway, that's what happened this weekend.

Uh yeah, I'll get a little bit into AMC but I Honestly like if you're coming here for something like massive to say about the situation I don't have anything special to say because we have to leave the legal system play out and I don't think there's any new information. Time and time again, retail's getting screwed Anna Marin Is a complete douchebag like that. Story has not changed. We thought he was something that he's not.

He's proven himself to be an absolutely greedy suit who is doing nothing but lining his own pocket. and he's using the retail support base as his piggy bank. And yet there's people on Reddit There's people on Twitter There's people on YouTube who are endlessly supporting them because they're too stupid to realize that they are sycophants. They're just gonna sit there and be like yeah, no, this is is exactly what we want all of the time They don't even know what they're talking about.

They are not Traders They're not investors. They're not informed in this situation. so just be careful where you're getting your information from I Think it's one of those things like if you have a spidey sense going on that you're like, well, hang on I'm not the most informed about the market, but something seems off here. You're probably right.

It's probably because he is and has been taking advantage of us without a doubt. Without a doubt, his letter pandering for money from all those stuff like please let me delude again And yet they were pissing away money on a useless gold mine. Are you kidding me? The amount of theaters that they were buying when they were trying to take care of their debt like just such poor, egregious business decisions. It's wild and now unfortunate for this, not only AMC but really, the whole movie.

TV Streaming World: The double Strike that's going on writers and also actors, so that is obviously something outside of the business's control such as whatever. AMC Disney Plus Netflix all that stuff, but that's going to hinder it. There's going to be a giant lag effect where we just have a lull in movies and shows because of the strike that's going on right now. There's major major major headwinds running into the world of movies right now.

and I think these weird sycophants are just like completely oblivious to it. Completely oblivious to it. Um, AA is so cool. I Paid double for the popcorn I Pay a hundred dollars a bag if he's spitting it.

Jeez. All right, yeah, all right. I Don't know how to respond to that one. But on that note, let's get a little prepped up for the day.

S P 500 futures nudge higher ahead of a busy week of earnings, fed meetings and much, much more. So here's a quick little look you see at where we are pre-market A little bit of a pop, but nothing too special. We're basically just popped up into the mid-range of the trading session on Friday so I wouldn't say the pre-market slash post market movement is really indicative of bullishness. Bearishness.

It to me, this seems neutral. There's a little bit of movement because of the PMI report out of Europe Today, at 9, 45 15 minutes into our trading day, we're gonna get an Rpmi the PMI flash. so we're waiting for a little bit of information right now. I'm not really because of the pre-market action geared geared up to be bullish or bearish, but on the daily chart I'm definitely leaning a little bit bearish, and my reasoning for this is over the past three days lower highs and almost lower lows on three days and it's a little bit more evident in the tech sector.

Wednesday Thursday Friday of that last week lower high lower high lower high lower low lower low lower low I Like to trade with the trend. Honestly, we can make it that simple. but right now, until we break above a previous day's high I would say in the short time frame as in Wednesday Thursday Friday the Bears are in control now. Obviously, if you zoom out, you could be like, well, on this time frame, the Bulls are in control.

But a lot of my trades are anywhere from like a one day to two to a three day hold. So I like to pay attention to the recent highs in the recent lows and Wednesday Thursday Friday of last week on the cues and on the Spy the high has gone lower and lower and the low has gone lower and lower. So heading into today, my base case at 9 30. is leaning slightly bearish.

but obviously that would change if we push the high from Fridays. So if on the spy on the Queue uh, if on the queues, excuse me if we end up push pushing the high and holding above Friday's side. Well, then obviously at that point I would revert back to being bullish because all that means is that we've successfully put in a higher low. and obviously this bullish rip to the upside could easily be continuing.

So right now Futures are up a little bit. but I don't think they mean anything too special. We have to wait for the market to open. Bar Benheimer tops 235 million in domestic debut.

I's second highest box office weekend ever Warner Bros Barbie tallied around 155 million during its first three days in theaters the highest opening of 2023. Universal Z Oppenheimer's snared an estimated 80.5 million during his debut. and let's expect this weekend to be the highest grossing weekend of the year at the domestic box office. So I mean both movies pretty freaking good I suppose um, not I haven't seen Oppenheimer Barbie was a fine movie I saw it I laughed.

uh, excited to see Oppenheimer That does bring up some interesting developments in the world of AMC I'm actually surprised I'm putting it up on the chart. We haven't charted this one in a while. where is it trading at right now? So AMC closed out at 4 40 at one point got as high as 880 and the reason is coming down. The reason it's falling from 880 down to 585.

The reason it's down 33 34 is because of Adam Aaron if you haven't seen it, uh, whereas Adam Aaron I'm surprised he hasn't blocked me yet I've been talking a lot of shit on the dude right here. my open letter message below to all of you on a subject of existential importance to AMC Entertainment Shareholders I urge you to read it. Adam Aaron And the thing that really got me the particular part of this that I found irksome and obviously so did a lot of other people because my message over here, uh, was the most liked in response to it right here in leading AMC through this once in a century pandemic in its aftermath I have been driven by this overarching goal. Um, whatever.

I don't have to read his overarching goal. But once again, as I said here, this clown still thinks he saved. AMC The only reason AMC is still a business is because of retail support. Without the retail movement, A would be a bum on the street, disgraced by his last failure.

Never trust the suit retail must stand for itself. I Believe that this guy is legitimately acting like his brain was just functioning at such a high level that he orchestrated this and saved. AMC I Promise you this. I Would have bet any amount of money in the world without the retail movement.

AMC would have already been bankrupt. It would not have survived the pandemic period. It would have gone out of business and it would have been sold off into parts. That's how it would have gone.

and then yeah, this guy has the absolute Gall to say yeah I led it through I led it through. He didn't do anything folks. he is so lucky he was in the right place at the right time. He didn't orchestrate any of it, he honestly just kind of attached himself to it and started adopting some of the culture.

and even this now AMC Survive months ago it was choke on that wind pounds and now he's like begging for survival. I I Just don't get it it. if you cannot see how things have gone, blows my mind. a is not just any suit, he's a dirty, ill-fitted suit.

Way to kill momentum again Dirtbag Love you Maddie Shout out Shout out always put a smile on my face. but yeah I mean so on. Friday Let me review how this went out on: Friday Because of a legal decision AMC shoots up I mean you could literally see it right here on Friday it shot up almost I mean it was over 100 at one point it was an amazing. It literally went up exactly 100.

and now instead of being just below nine dollars, we're trading just below six dollars. Obviously losing a hefty percentage and a lot of people who yoload calls wanted that money. but Adam Aaron made the brilliant decision to yesterday Sunday before the market opened to post this out here basically saying hey, uh actually unless you guys give me more money, we're gonna go bankrupt. What? I Find funny in this letter is how he doesn't discuss how many shares he sold but luckily for you I did find that information.

The same guy who's asking you for money is the exact same guy who sold over 42 million dollars worth of AMC Today, the CEO of AMC released a letter to investors pleading for them to allow the company to sell more common shares of stock. Notably, he sold 42 plus million of AMC over the last 20 months and has not bought a single share in any of the equity raises. So you have a guy coming out begging you for money. When he sold 42 million dollars worth, he sold 42 million dollars worth and he hasn't bought any.

He's not using any of his extra money to buy up stock to show support for what's going on, but he will come to you and say hey, could you please give me some money because we should survive Had none of them have bought all they've done. It's not just him, it's the entire boat. All they've done is sell and sell and sell and sell. And yet honestly it blows my mind that people still think he's on our side.

Name me one piece of evidence. a single shred of evidence of what he's done that's benefited retail. It does not exist. All he does is sell and sell and sell.

Where do you get the information on stock sales? It's SEC the Sec's website like I know that 42 43 million dollars when you're talking about multi-billion dollar company with many billion in debt. that is a drop in the bucket but this whole thing runs on sentiment of who's supporting who how good is this crowd voice So this it's a horrible bad look like and yet people still think he's like somehow like the Silverback supporter. this guy is an absolute scumbag. a grade A piece of shit and if you can't see it I I don't know what I can do to like really help you on that AMC shares Serge As judge denies ape deal in Surprise ruling Surprise surprise a judge agrees that this whole ape debacle is not legal.

So anyway obviously the Arbitrage opportunity kind of in the short time pain as in Friday night blowing up. um but now it might be back on the table. Who knows how it's going to go and in all reality it it kind of breaks my heart because I know a lot of people got brought into this and they looked up to Adam Aire and they looked up to the movement as a whole of like maybe an ability to financially for the first time in their life. Get ahead like this could be a big Financial break for a lot of people and it breaks my heart that these people who are making decisions such as Adam Aaron are turning out to be the type of people they are like it's it's absurdly sad.

like I truly feel for a lot of people who are like not informed about the market, doing their best just trying to get by. and then it just turns out the person who's at the head of the company like could not care less. a is the Slither back, not the Silverback 100 Snake I like that slither back. we should get that trending I like that sliver back.

That's a good one. So anyway, AMC was blocked. Um anyway AMC Entertainment Holdings was blocked by a Delaware judge Friday from converting its controversial eight preferred units into common stock a ruling that sent the company's Class A shares surging up 100 in after hours training once again because it was being pitched as being the same legal and financial claim to the company. So Ape and AMC should be trading at the same value.

They weren't trading at the same value, so people were shorting AMC Longing Ape for Arbitrage But now that the judge said no, you're not going to do that. the Arbitrage kind of disappeared, increasing the chances of a really trading at what it's worth. which is absolutely nothing because Ape is essentially a giant scam. Vice Chancellor Morgan Zern rejected a nine-figure settlement that would have let the conversion proceed while handing out extra stock to mitigate the dilution of ordinary shareholders.

The agreement's precise value, which is upward of 100 million, has fluctuated with the company's stock price AMC shares we're trading at 880 after closing at 440. The Ape units meanwhile sank as much as 63 percent to 67 cents. Well, Ape is trash. Honestly, because of Adam Aaron he's kind of making it like AMC's not so good which is sad.

but I mean from the get-go before Ape was even a thing I informed all of you my own opinion that tape was absolutely trash. So I don't know how this is gonna go I Have a bad feeling in my stomach because really, what with this has gone right in the past couple years and then if you look at just the decisions of people within the positions of power to make any of these, it's just trash. So I don't have the best feeling about it whatsoever. Obviously I still own AMC I Still own Ape.

But that's just because of a moral reason that I've decided because I know a lot of you are in this. so whatever. I I kind of view with the Mantra of like the captain goes down with the ship um so you could see mine, it's on public I own AMC I own A but that doesn't mean I feel good about it I wish like many of you I wish if I could turn back the clocks I wish I got out of everything at 72 dollars I could have cleared over seven figures but Woulda Coulda Shoulda can't turn back the time. Moving on to much more important stuff: the bear Market has nearly been erased fewer than 20 months after it began, so the spy at its height was only five percent away from an all-time high.

I Mean, if you've been looking at the market, you know we've just been ripping and it's been crazy. Look at that. A huge rip from mid-march until now. but really from October mid-october until now? look at this recovery not far away from the all-time high we ended up attacking.

uh, what was it? 456 and some change. all-time high is 480. not bad whatsoever. So obviously the big question is will this be continuing I Don't know.

but I do know this week is going to be very insightful. We have fed decisions, we have consumer sentiment, we have GDP reports. There's a lot going down and on top of that, we're getting a lot of information from important companies and their earnings because we're still in the middle of earnings season. a monumentous week ahead as the FED ECB and Bank of Japan near pivot point.

so not just going down in the U.S But obviously, our friends across the pond, the European Central, Bank and the bank of Japan all central banks are going to be making decisions. So yeah, expect some craziness without a doubt. On top of that, Hong Kong market slide over two percent as investors digest private surveys on economic activity. Over the past couple weeks past couple months, the information coming out of China has been weaker than expected.

so we've been seeing their Market take a bit of a hit in terms of earnings. Feel free to screenshot this or just go to at ewhispers on Twitter Shout out to them I'm in no way affiliated with them I Just love that they put out this graphic. so earnings are clearly underway. Uh, on Tuesday before the Market opens, we're going to hear from Verizon Gm3mge and Spotify after the market closes Microsoft Google Snapchat Visa all massively important.

on Wednesday At T Boeing Coca-Cola Facebook Chipotle on Thursday, we're going to hear from McDonald's Southwest MasterCard. We're going to hear from in-phase forward Intel and Roku and then on Friday We're going to get some of the oil plays Exxon Chevron and we're also going to be getting PNG. So once again, we're in the middle of earnings season. A lot going on this week next week.

In terms of earnings really important, this week's going to be wild because we have a lot of earnings and on top of that, a lot of macro economic events. We might want to come back to this because I don't have enough time, but Twitter is no longer Twitter is dead Elon took a gun to the little bird's head and just shot it because now the company is actually called X The website X.com now redirects users to Twitter So big switch there, but we'll be coming back to that in a second. In terms of macro economic events for today, at 9 45, we're going to get manufacturing PMI and services Pi PMI that comes out 15 minutes into the trading day and then later on this week. Uh, um, Tuesday we're going to get consumer confidence on Wednesday We're going to get the Fomc decision on Thursday we're going to get the GDP report and then on Friday we're going to get the Pce report.

So the fun just keeps continuing and continuing and continuing this particular week for today, specifically: Monday July 24th The seasonality of today does favor the Bulls ever so slightly. The Bulls have won this day 60 of the time over the past 25 years. The profit factor is 1.2 as in every dollar spent has returned a dollar twenty. And the bias, as you can see from the equity curve does favor the Bulls.

For the first couple years, about 20 years ago, it was favoring the Bears, but ever since then, the equity curve is bottom left, top right. Now Does that make me believe that today is going to be exclusively bullish? No. seasonality is the thing that I'd just like to know about. like should it make me more confident or less confident.

But I'm never exclusively trading just because of seasonality. Five things to know before that stock market Bell goes Diggity ding ding ding today Monday July 24th Dow carries Terror into Fed Week. The Dow's been ripping ripping ripping. Remember the Dow's like 30 of the most influential companies S P 500 is 500.

NASDAQ is 100 with more of a focus on Tech excluding financials. Then you have the Russell 2000 which is the bottom 2000 of the Russell 3000. There's all these like little sub sectors. So anyway Dow just 30 of the largest companies earnings.

Avalanche We kind of went over that. Check it out at E-whispers on Twitter This Barbie is a box office smash Barbie Pretty good movie Oppenheimer Haven't seen it but very much want to. Goodbye Bird hello X Twitter no longer Twitter It's now called X We'll go over that in more details in just a second consequential labor talks. So this has to do with Airlines But also UPS is like looming with their deadline.

So lots of strikes going on right now. So in case you're invested in those companies trading them, paying attention to them for earnings, there might be like a little bit of extra news related to the potential strikes I Mean we're even seeing strikes right now with the writers and actors, but it seems like it might be going on with the world of Airlines Obviously ups that one could get crazy, so lots of stuff to pay attention to. On that note, let's get back here. Let me switch it to the one minute you guys know the name of the game I Like to wait the first 10 15 20 minutes before I really do anything today I will definitively be waiting that much because we get the PMI report uh, manufacturing and services at 9 45.

So I don't really see a realistic reason to be trading in the first 15 minutes of the day coming into today. I do have one position I'm shorting the NASDAQ um I you could do it through QQQ I did it through Ndx the actual index I have puts for this Friday So it doesn't expire today, it doesn't expire tomorrow I gave myself some time I got them when the market closed or was about to close on Friday So swinging a little bit of a NASDAQ put position uh, you could think of the cues. but once again I did it through Ndx. it expires this Friday Other than that, I have nothing on right now whatsoever whatsoever whatsoever I Guess we could throw it up I Really don't want to watch AMC But I know many of you do.

All right. we are open, we are open. Let's see how things really go. The casino is open I Hope you had an enjoyable weekend, but now it is time to see what kind of week we have ahead.

Best of luck to all. Play responsibly if not, have fun. All right, let's see how it goes. Let's see how it all goes to do I Just want to see important levels.

All right. So I care about the Spy if it goes It goes above 454 17 Obviously we need to hold that. that's the high from Friday I Also, very much care if it goes below 450 220. that's the low from Friday I Care a lot about are we above the previous day's high or are we below the previous day's low.

but obviously it doesn't really count just to go right above it or to go just below it. We've seen a lot of fake out breakouts. A lot of fake out breakdowns I Want to see a breakout or breakdown that actually holds that level? so I have alerts set there? I mean the Spy opening up with quite a bit of ferocity. uh AMC Already losing value out of the gate for people who are actively trading it I Hope for your sake that it does turn.

Um, obviously if you're involved in this like I still want you to be doing well, it would be crazy for me to not want that. Um, hang on I think I have the wrong levels on this one right here. I Don't think I updated it properly. Okay, cool and I could get rid of this alert so we are flirting.

The Spy is looking strong about 20 cents away from pushing Friday's high. but let's see how this all ends up going. AMC Vomiting out of the open. Is anyone surprised? This is what happens when the CEO is basically saying hey, yeah, no things are horrible and we're gonna dilute you.

Did anyone really expect this to be going up right now in all reality because exclusively because of Adam Aaron I'll put this out now. What is it? 932 I would not expect I Would not be surprised if AMC returns all the way down to where it closed on Friday and one 100 because of Adam Aaron's letter that he put out yesterday. He couldn't give people won. He couldn't give them one trading day.

not one freaking trading day. He had to crush it before it even started. Why not short AMC The Um which I'm gonna call it is too high. The cost to borrow is extraordinarily High extraordinarily extraordinarily High Then short it.

You can't just like it's not as easy as saying oh, I'll just short like the utilization smacked out. It's tough to find shares to go on loan and I don't want to short it I I want to make this clear my issue isn't with: AMC I would like for AMC to be around I think Adam Aaron is a cancer to AMC I want Adam Aaron to be gone I want a better CEO to be in I Don't think AMC will be able to succeed with Adam Aaron at the Helm of the ship um I Like movies I Like theaters I know AMC employs a lot of people I don't want those people to lose their jobs I Actually think the theaters are pretty nice. My exclusive issue is with the current leadership team of AMC and their decisions. I Don't want this company to fail.

but I think the odds of it failing are increasing because of Adam Aaron and the board and their decisions. Uh, AAA did the same thing back in 22. Well, all he's done is bloat the debt. Ever since he got in there almost a decade ago, all he's done a little less than a decade ago is explode AMC's debt.

That's all he's done. Um puts on AMC I Mean you could do it I just don't trade it I don't um have any need or desire to actively trade AMC I own the stock but I'm done with it Uh I don't I don't actively Trade It Got halted because it got hit way too much. went down way too quickly, way too fast. Ever notice how Twitter and Reddit whenever it moves like this to the upside, they're like, how could they halt it? That's not fair.

They're breaking rules and then when it halts because of the downside, move like just absolute crickets. Absolute crickets. they're like uh no no I think it's good that they did it and it's just because they don't understand Limit Up Limit Down Halts Now this will be halted for five minutes. It halted at 32.

It'll start trading again at 37. it's a circuit breaker Holt That's all. It is. Nothing too special.

Uh Trey taught me that it's Market manipulation when it gets halted to the upside. Well I Don't know if you guys haven't realized this, but Trey never really knew what he was talking about. He was not informed on any of that. It's not manipulation.

It's a rule that's present in all equities of if you move too fast, too quickly in the up direction or the down Direction you end up getting halted. The rules are as plain as day. you just look. L-u-l-d Limit Up Limit Down search L-u-l-d NASDAQ L u l d New York Stock Exchange You can find the exact rules.

There's people who have indicators on their chart that like map out. It almost looks like a Keltner Channel or a Bollinger band. They have the exact Channel where they know if it goes above that or below it. for 15 seconds it gets halted.

It's like like as as a parent as it could possibly be. Are you still boys with Trey Not at all not at all. I Don't talk to him um I Don't think he's uh, a good player in this community I think he did some devious things and in all reality, whether my thoughts or opinions are right or wrong, what is right is that he cashed out, took his money, and left. So I don't really give a shit.

Um, have you heard from Trey Nope, We don't talk at all. He quit, he quit, he quit, he quit, took his money and left all right. So the Spy is successfully above. its high from Friday but let's see if it actually holds.

The cues are taking a bit of a hit right now Tesla taking a bit of a hit. Uh, well, this is halted. There's really no sense in well, it's about to start trading again. Netflix I'm getting some breakdown yeah Netflix Oh I wish I held that I had some puts on Netflix I took the gains on Friday Uh, but if I held it to today, that would have been beautiful Netflix Continuing to go down Matt has been getting hit pretty bad too.

Men is actually below 300 right now. Meta breaking this trend line Gap fill Madam Mada went as low as 291 Met has had a hard two-day vomit Meta reporting after the market closes tomorrow Tuesday Or wait, no no no Meta Meta Thursday excuse me Microsoft is tomorrow cues maybe breaking down right here? Maybe maybe maybe let's see how this all AMC Can I mean where did we end up I don't even have it over here I don't What was it 440 I Would in no way be surprised if this returns all the way to 4.48 cents. And if this were to occur, if it were to occur, you have Crossing down the high from Friday. Where do we close out at 4 40.

So if we hit 448 440 it, it's exclusively exclusively because of Adam Aaron's letter. hey, kill the momentum without a doubt. I mean is anyone surprised about that and I get like I don't know. This is like a fine line for me to balance because um, people arbitrarily think that I just have to love AMC as in I have to love Adam Aaron and his decisions No.

I was supportive when I thought he was making the right decisions and I was supportive when I was I guess under the spell thinking that he was like on retail side but then all of a sudden he makes one weird decision I'm like, well, that's a little strange and then a second one, then a third one, then a fourth one. It's like how many decisions does a person have to make or actions does a person have to take before you realize they're working against you? I mean you just have to grow up and mature and like, like, do your best to realize what's going on in reality I Want to make it clear I still have my AMC I still have ape you can see it on public but I don't feel confident about it because I'm not confident about the people who are leading this company I mean the dude sold 42 million dollars worth of his own stock and then he has the balls in a newsletter or whatever Twitter Twitter post a Twitter letter to ask you guys for more money like are you kidding me and I say you guys because I know I'm not buying more. Why would I buy more when he's telling us to our face, we're gonna get deluded and yes, I know a bunch of stupid fucking dipshits are gonna tell you that delusion's good and it pushes stock price up. but it doesn't.

This isn't an opinionated thing. this is a mathematical thing, a science thing, a basic logic thing, and also a history thing. You can look at it every single time AMC has said we're gonna dilute and they end up diluting. the stock goes down until they announce the dilution is complete.

But at this point if the vote goes through, they're going to have unlimited, essentially unlimited dilution power. I Just I Don't see it Um I don't see it whatsoever. Uh I do miss these high volume days on AMC Yeah, no that's I mean I like to have volume two I Want AMC to go up I Am not rooting for this to go down because I know many of you watching right now are in it. There's a good chance many of you are underwater I Want you to make money I Do not want this to go down.

That is not what I am rooting for. but I just don't logically see how it could go up with all of like with everything that's taking place. All right. Um, as we are waiting for the PMI number to come out in five minutes, quick shout out to today's stream sponsor Street Beat! Street Beat is amazing AI Trading Co-pilot it's pinned to the top of Chat it's in the description of the video.

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So when you sign up, use the code mat. um you could just download it off the Apple apps or the Google Play Store. The major thing is when you do it to get a free 30-day trial of the AI strategy generation, just use the code map I think it's awesome If you want, you could just connect like say if you have like a whatever there's many brokerages that's now associated with. so if you want, you could connect something like your Robinhood account to Street Beat.

if you don't want, you don't have to create a whole new account on Shreepy and Fund that you can connect other brokerages. So check it out, let me know if you have any questions. I Absolutely love it! I'm trading three or four of my own strategies right now and two of their strategies my favorite one is just the one that perfectly mimics Congress So so whatever Congress is buying, you could be buying. whatever they're selling.

you could be selling and this handles all of it for you. You just have to select the strategy you want. That's by far my favorite one. I Also really like the Bond laddering one that's targeting a seven percent YTM Uh, yield to maturity.

which is really nice right now because it's kind of like a no-brainer type of a situation, but once again pinned to the top of chat in the description of the video shout out to Streetbeat for sponsoring today's stream Whoa! Spy's waking up. The cue's not so much. The tech sector has definitely been a bit more weak recently. Men has definitely been weak.

dude. Matt has been struggling. Uh I wonder it has to be What's it? Energy is ripping. Financials are ripping.

Utilities aren't doing anything. Health Care is ripping. So even though the cues are weak, the spy keeps going up specifically because of how strong energy and how strong financials are. which is kind of interesting.

So we know a bunch of financial companies already reported over the past two weeks. So like the likes of JP Morgan Bank of America all beating and then uh, we have energy reporting this week Chevron and Exxon are repeat are reporting Friday Recently we've been seeing oil itself: crude oil doing really, really well. Here's the daily chart of crude oil recently bouncing off of 67, which is expected to be the price level that we were told the Biden Administration would be refilling the Strategic petroleum Reserve also known as the Spr. They didn't but it got enough of a bounce anyway.

and also we had some oil production Cuts So oil bouncing from 67 all the way up to 77 actually almost 78 right now. So doing well for companies such as Exxon getting a bounce off of 100 up to 105 if you look at CVX Chevron even doing better bouncing at 152 up to 161. and actually one that really intrigues me is Oxy I'm in Oxy I've been in it ever since a year ago because I saw Warren Buffett buying a lot, but Oxy going from 56 up to 62 and on top of that, what I want to point out about Oxy is I feel like you could argue there's an upcoming breakout depending on how you wanna or maybe potentially break out already. but if you connect some of these recent highs, we got the breakout, the retest, and then the continuation.

So Oxy looking pretty strong to me once again I don't have calls or anything like that I'm just invested in it in my medium to long term account. I've been in it for a year now just because Warren Buffett was loading up on it. so want to throw that out there. And then in terms of financials looking really strong JP Morgan going from the mid-130s to the mid 150s if we look at Bank of America big push from 28 up to 32 if you look at City yeah, City's not moving that much Wells Fargo pushing from 37 up to 46.

let's look at Capital One Capital One going from 88 up to 116. So the strength. If you're looking for strength right now, look at energy, look at financials. If you're looking for weakness, you're going to want to look at Tech so you can either look at the NASDAQ You could look at the tech sector here, so there's clearly a rotation from these major Tech plays.

like think of those Super Seven that have been pushing everything up a rotation from those types of plays to energy and financials right now, will it hold? I Have absolutely no idea. That's just what's currently going on in real time. and now that it's 9? 45 We just got the PMI numbers and as you can see, we got a nice pop. A bullish pop off of those numbers.

Not so nice for my position because I have puts against the NASDAQ but I'm not going to let like a little one or two minute movement shake me out because my expiration isn't until Friday Oh Meta, what's going on? Meta looking weak. Very happy I Got out of those calls when they were still in the green Netflix also kind of looking weak Nvidia A little bit of a bounce Tesla Making a recovery to him from 256 to 259 but getting soldered last week it was trading above 299 Microsoft Looking weak Apple Starting to bend back down So uh, definitely weakness in the tech sector. Um, until the cues get above and hold above their previous day's high. I would not be looking to be bullish on Tech until I See the price action That tells me I should be bullish on Tech Um, coin recently from Coinbase getting slaughtered, trading below 100 not long ago.

Is that like 118.? we have Bitcoin cracking below 30 000. currently trading at 29.2 000. we have East trading at 18.50 and we have Xrp trading at 70 cents. Uh, looks like we're getting a fake out breakout on the Spy it tried.

This is what I mean by a fake out breakout? this is actually dollars. Have been an interesting level. Uh, to take a put position, It tried to get above Friday's High which was four, four, five, four, Seventeen and clearly got smacked. A classic liquidity grab right here.

Um, it just can hold it, try to push above, pushed in, made a low, went up, then got slaughtered. So uh, fake out breakout. Obviously, a failure for a breakout is inherently bearish, and a failure for a breakdown is inherently bullish. If you can't break out, that has to be bearish.

If you can't break down, that has to be bullish. So the fact that this tried to break out couldn't hold and made a fresh low. To me, that's a bearish development. obviously.

Right now we're still kind of a little bit in the thick of it just because of what's going on with the PMI Profit? Do you have those numbers? Profit is always my man. Um, U.S Uh, manufacturing PMI 49.0 Expected 46.1 Services PMI 52.4 and the expectation was 54. So both of the PMI numbers came in light. Obviously at first the market had a little bit of a positive reaction for like the first 30 seconds and then it ended up getting a little bit smacked.

AMC is literally no longer moving I guess I'll put a breakdown and a breakout alert, but we're not going to waste our time watching it if it's doing nothing. I mean that's just like watching paint dry. um I Wanted to go up, but I'm just not feeling the most optimistic about it because Adam Aaron's a complete fucking douchebag. Uh Jamie pop coming down.

How's ape doing? We might as well look at it. ape getting hit down 7.5 percent like it's just Insanity um I am of the opinion that we're clearly being taken advantage of. Meta: Netflix what are your main watches for the day? Are you still in Spy puts? no I mean Q puts um right here I'm betting against the cues. This is my Play My one and only play right now is this and I wouldn't my first Target is this downside? Gap Film on 374 19 374 19.

It is this gap between Wednesday and Thursday the 12th and the 13th looking for the cues to fill this? Gap and then if I get lucky, there's an additional Gap fill all the way down here to 368.63 If this hits today, Not only would I be taking my money today, but I would be. It would be a full-on party. You guys are all invited over. We could just have a party at my place I Don't think that's gonna happen today.

I Mean that would be a considerable drop. Obviously, anything's possible, but I don't know if we're gonna see a drop of 1.9 Um, possible. But I think unlikely, unlikely, unlikely, unlikely. We are at the low from two days ago right now I need to update these: Uh, the tech sector definitely weak Tech Sector definitely weak.

We're bouncing off the low from two days ago at 375.72 so let's see if that low access support possible if we end up vomiting through it. I'm going to be looking at the low 375s, particularly the low from Friday which is 375.19 so about a little less than a dollar below where we're at right now at any of the levels. It could obviously bounce. but I see things like Meta vomiting Meta if you're playing Meta right.

Now to the downside. First of all: congratulations. Second of all, you're looking for the snap of three or excuse me, 291 20 and then from there I'd be targeting 287 as a short-term Target uh, if you're in Tesla it got a little bit of a well. That wasn't even much of an upside.

Gap though if Tesla starts to vomit, my next Target would be 241 followed by 235. Uh. Nvidia I'm looking for this downside: Gap Full of 439.35 that's been in place since last week hasn't quite hit yet. If it keeps going from there, then I'm watching for 30 Microsoft Um Microsoft's had a pretty bad week.

It's weekly candle not looking good at all when you see a wick up like this on big volume and it just doesn't hold. I mean yes, of course you could have a recovery, but when you have a spike in volume and you have what's it called like a shooting star I don't really remember it I Just know that this means it pushed to a new high. The market didn't accept it and it got smashed. If Microsoft were to go to below 339, I would then immediately be targeting 327 the weekly candle.

Microsoft Absolutely brutal. Looking for a snap below the low of last week. Once again, that's just below 340 and from there I believe it sets up a test of 327. what are the other major ones that you guys have been talking about Apple Pushed.

try to push higher Uh, made of a new all-time high on the whole AI News being competitive with open Ai and everyone else who's trying to do AI but right now kind of mid-range not doing the most. uh Amazon showing some weakness similar to let me show you the weekly um so try to go up two weeks ago, completely reverted last week uh AMC and alert just went off cracking I I think this is setting up a return to Friday So I feel bad for all of you guys who got really excited Friday night. maybe you got lucky and you had calls and you're like dude, this is it I'm making my money back and Adam Aaron fucked you. There's no if ands or buts about it.

Uh, the queues coming dangerously close to the low from Friday the Spy not holding that breakout spy getting a little bit smoked. um off that push. a false attempt at the push. so mid-range right now on spy Q's looking a bit worse.

remember my first Target on the cues is uh, about a dollar below where we are right now. about a dollar 25 I'm looking for The Gap fill from Wednesday July 12th this high at 374.19 Once again, that's for the tech sector AMC Absolutely vomiting hey Mike Do you think we see a big pullback before we break all-time side considering how close we are? Thanks Bob Yes, um I think for us to successfully push in the overall Market Again, my base case is for I mean I don't know how you're defining a big pullback, but uh, the queues shredding. It's low shredding, shredding shredding. yeah.

um I'm just watching for this. Obama another dollar? Um I Don't know what you mean by big, but my base case is if we are to push again I Think they're still going to be like a decent percentage pullback. It's just things are simply overbought. Like you cannot sustain that type of movement where you're ripping ripping ripping ripping.

There has to be health checks. and I think this is a health check. Matt Can you talk about what you and Chris P were tweeting about on Rum this weekend and on Twitter Oh yes. so Rumble obviously shout out to everyone on Rum.

Uh, right now if you look at the sock, the short against Rumble have been increasing every single day it shares on loan. look uh, do we want this one? So first of all, the utilization is maxed out. This is for ticker symbol r U M Um, maxed out Cost to borrow 14.9 percent days to cover almost 11 days. Shares on loan almost 16.5 million.

And where is the shares online? Why can't I find the shares online? Free free flow download Is this a percent? Yeah. I Don't want the percentage Oh on loan? Okay, there it is. Let me go to the past three months. Um, not long ago.

about um, six weeks ago, the shares betting against Rumble uh was 8 million Or theoretically it could have gone up to 8 million. Now it's more than doubled. So over the past six weeks people have been making a big, big bearish bet against Rumble and uh, the CEO just kind of noticed and tweet about it. So I decided to dive into this because he was using Nasdaq's data, which obviously that's always a little bit lagging because of how these short reports are reported.

So I try to get the most up-to-date and this is I mean Rumble Definitely taking a hit because the amount of money going against it right now. but that means if there's some sort of positive Catalyst which I don't know if there is or isn't I know their earnings are in mid-august but all of a sudden if something's announced that the market likes, this could screw over a bunch of these shorts. I Also want to point out there that I think this number is being underreported by a factor of two I think that there is a miscalculation going on I even emailed or text and they told me they're going to look into it. but in the in terms of the free float shares, 75.62 million I read over the pipe SEC filing I Believe the numbers actually closer to 35 or 40 million shares in terms of the free float which would mean the ratio of short interest would actually be about double.

So I think the short interest is closer to the realm of I don't know. Let's let's just call it 30, 35 something like that. But as soon as I hear back from or text I will let all of you know So I'm I'm in it I I make it like it's I make it very very apparent that I'm invested in rum. If it squeezes, yeah, I would take my money I'd let it come back down and then I would reinvest all of that money.

Uh, as of now I'm invested in rum I Don't actively trade it, no calls, no puts I just own shares I had one small purchase, one large purchase at least relative to how much money I have and from there I'm just writing it out. Um, I view it as an investment once again I don't actively trade it If it were to squeeze. Yes, I would take my money I would let you know that I'm taking my money I would let it come back down to reality because we know when things squeeze, they don't hold at that value and then I would just reinvest all of my gains at that new level. Uh uh, to to.

But why isn't Aim Scene being investigated for manipulation? If retail owns a majority of shares and aren't sharing, how can much shares be traded in one day? Nothing happening on the threshold list for three weeks. Uh, this is a misconception that I understand where it comes from, but it's just a misunderstanding of like how the market works. Like let's say, you have a stock that only has 10 shares, right? If one share, one share can be actively traded all day. So you even if the stock only has 10 shares and one share is bought and then sold.

Bought and sold. Bought and sold. Bought and sold. You could have a volume of whatever 50 even though the stock only has 10 shares.

So that's not Miggy You're trying to say that the fact that it has high volume is like indicative of manipulation I Just don't see that like it's just like no one within Wall Street or Regulators or anything thinks that's manipulation because sometimes sometimes people are just actively trading. If anything, it shows you the exuberance for day trading when you see massive Pops in volume people getting in and out. In and out. In and out.

In and out. So even if in my example, even if you have a system or stock that has 10 shares, if nine of them are not being traded, but one's being traded, your volume can still blow up. So as long as there's one share that's being actively traded, you could theoretically go to like extraordinary Heights Within volume. Uh, the queues just bounce off of a pivot point.

Let me check that out. Um, if you are trading the Spy today, I'm watching 453 right where we're at. Now, my next level down would be 450 220, Right where we've battled it out the past two trading days. So about 80 cents below this if it doesn't bounce here in terms of the cues, Uh, in terms of the cues, you're exactly right.

We just bounced off of 374.50 Big big level. and then if we go below that, I'm watching 472.25 So if the queues snap 374.50 and hold below it, my next Target would be 372.25 followed by 370.. that's what I'd be watching. So the Spy taking a bit of a hit.

a failed breakout early this morning. um, somewhat I Guess at first being faked out by the PMI and then the PMI smashed it and then the cues have been weaker. So I think it's not that crazy where if you're bullish or bearish on the the market, maybe find an index representing some important aspect of the market. If you're bullish, find one that's particularly strong.

and then if your bearish, find one that's weak. So even though I have a little bit of a bearish thesis on the overall Market I've noticed that the cues were even weaker. hence why I got puts on the cues rather than on the spy. And once again, just to be clear here: I didn't actually get puts on the cues I did it on the NASDAQ index itself I did it on Ndx just because if you do get it right and you make money, you end up paying less in taxes.

Um, just want to let everyone know. So if you're a Trader uh, trading like or playing whatever with the the Spy the cues things like that, please check with the CPA about this: We're all in our own situations, but at least from what I know. My understanding of this situation is there's a tax advantage on your profits if you're trading SPX the actual index instead of spy, the ETF tracking the index. same thing with the NASDAQ and the Russell.

Um, if you are trading the overall Market you're going to want to trade the indexes most likely once again, I'm not a CPA reach out to someone who's more informed on the situation than I am. Um, rum is getting hit this morning Amazon's getting hit is getting hit Netflix not getting hit Nvidia trying to bounce a little Tesla not getting hit Microsoft trying to bounce Apple Actually not having the best of days either. But if 90 of shares are being held and not sold, how can trading the remaining tank the price? almost 100 Because trading of a singular share can take the price 100 percent. If a Stock's trading at ten dollars, and then there's one trade that day, just one trade.

someone decides to buy and someone decides to sell It could go to whatever value. If a stock opens up at ten dollars and then I decide to buy, you decide to sell it to me at 20. Well, that means the Stock's at 20.. if you decide to sell I decide to buy at two dollars.

That means there's an 80. Drop It Only Takes One Singular Trade One exchange one buyer and one seller to decide the new price. That's all it is. Uh, Miggy you might just like this is obviously some like uh I guess just rudimentary Market structure stuff but there's some really good videos on out there I know Dave Lauer has explained it a lot.

Um, but I implore you to look into this because like it is important to have like a basic understanding of the market of like how this actually works and I think sometimes real world examples work the best and I think some of the times the metaphors or the analogies I use are more in the world of like real estate. like if a house is trading at a hundred thousand dollars and you decide to sell it to me at 25 and I buy it at 25. well now it's only worth 25. on the flip side, if it was 25 and then I decided to buy it for a million and you sell it to me for a million, it's now worth a million dollars.

It only takes one willing buyer and seller. That's what makes up a transaction. A willing buyer and a willing seller. One exchanges the money, the other exchanges is the asset.

whatever the asset is. um if I confuse you at all, please let me know because like I feel like I could probably do a better job explaining this. so like if there's any confusion or if you have any other like new questions or lingering questions like this is important stuff that I think we all need to be on the same page of. so um like Let It Fireman definitely lit it fire.

The only understanding of the market I need is a 15 second chart and a Macho Man glasses. Yeah that that's level two. Uh but Miggy if you have follow-ups like I said dude, we're here. let's chat about it.

This is important for everyone to know and honestly, if you have a question, there's probably another 100 people in here who have the same question that just don't want to ask it. Uh so Matt what would it take for you to finally close your AMC position? Honestly I don't know. that's a phenomenal question I have no clue uh I'm I'm I have moral qualms with like me just saying I'm out just because I know a lot of people like watch me when I was trying to teach about the markets covering AMC talking about all that and the I look back on it and even though I said it and I like I remember that June stream when things were ripping and I remember everyone else is like we can't sell, we can't sell, we can't sell, everyone has to hold and I remember that's like the first time I really got heat in the communities because I was like oh no. like if you're happy with your profits, take your money I wish I was on a daily basis.

More extreme about that of remember this is an active trade, not an investment I Never thought AMC was an investment I thought hey maybe the shorts get squeezed and they did. If you think the shorts that wasn't us squeeze and obviously a thing can squeeze multiple times. but when a stock goes from two dollars to seventy two dollars, obviously someone's getting squeezed, it could be in options Gamma squeeze. It could be a short seller squeeze.

It could be a combo of the two. Like clearly that that's a squeeze and it's not like we live in a world where there's just like one squeeze and that's it. Like, of course it could continue to squeeze. There could be another squeeze.

But in that scenario, to think that like it would just like magically went to 72 and that was like quote unquote like just normal and people bought it up to that level. Well, they did. But it's because shorts were getting their asses absolutely handed to them. It's because options market makers were getting their ass absolutely handed to them.

and they had to protect their book. Uh, protect their Gamma. Well, really, their Gamma and Delta exposure. But this to me AMC was never an investment to me.

AMC was always. hey. Will There be a enough of a community movement that the people who are betting against it are just inherently wrong. And then when it didn't go to the heights that Dipshits were promising, they're like, well, no, no, we're not done yet.

The concept of diamond hands is probably the worst concept of the Ape Community because it means that they're turning active trades into Investments and like unless you wanted to invest at the start. Like, like you're not investing in something that you think's a squeeze, that's still a trade inherently. if you think something's squeezing, it means you're trading it. you're not investing in it.

So it's I don't know I think there's a lot of people who just got like caught up in I guess like the moment and this is where we are Now to be honest Mark you holding still lends to the Opium sell bro and don't feel bad I don'