What is going on moon gang? I hope that you're having an absolutely fantastic day and welcome back to another dumb money weekend update where we're here to talk about our two favorite moon stocks, amc and gamestop in this particular update video. I have a bit of news related to both of them, then we'll be going through their technical structures and, of course, we'll be wrapping it up with their short interest data points and more specific to amc i'll. Be explaining why? I think when the market opens tomorrow, monday september 13th, i think we're actually going to see a spike in reported short interest. So with all that being said, let's hop right into it.

Alrighty then, so amc closed out the most recent week of training at fifty dollars and sixteen cents on friday. It gained three point: three, eight percent. It was on ninety million in volume. So the reason i'm bringing up the volume right here is honestly, because this was a beautiful close above fifty that's a huge technical breakout.

The only thing that would have made it perfect is if we had more volume, i'm looking in the range of at 115 125 million, something in that range as a base and higher, but overall hey it's very close to being perfect. This is phenomenal. I love amc above 50., i'm just looking for general market acceptance as in more volume being traded above 50, but who knows that could be coming as early as tomorrow? Amc over the past week is up almost 14 and from the start of this year. Until this very moment it is up 2 266 phenomenal, obviously not a dead cat.

All these people that have price predictions, one cent, a dollar three dollars, six dollars, hey uh, i mean it's trading at 50., the scoreboard isn't lying. This is crazy. Obviously, they are very, very wrong jamie closed out the week at 190 and 41 cents, which was a drop of 4.4 now on the surface level. This, in my opinion at least, seems a little bit more rough than it truly is because don't forget after the market closed on wednesday, it did have its earnings announcement and it pretty much went from 204 at one point down to 177 at first there was a Very negative reaction to gme's most recent earnings call, but when it started trading because remember pre and post market are a lot lighter volume, smaller volume when we started trading in normal market participants, it bounced from that 177 178 level.

All the way back up to 200, plus so very, very, very impressive. I mean there are so many articles being written game, stop falling this. Is it they're done? And no? No, no, in fact, people as soon as the market went, ding, ding, ding people stepped in started, buying and pushed it back up to the levels it's been at recently. It also had a little bit lighter volume.

Three million its average volume over the past 10 trading days is 3.7 million over the past week. Because of this earnings call it's down six percent, but over the past month it's still up 20 and from the start of the year. Until now, it is up 900 and pretty much 11, so both of them. If i like, on the weekend to take a step back and see where we've been going because right now, i mean both of them from the start of the year until now are sky high.

Now we before we get into the news about them, just so, you know the overall market, the s p. 500. I believe this was a thursday or whatever it was september. 2Nd did make a new all-time high and i want to bring this up just because on friday it wasn't the best day dropped point.

Eight percent people were kind of panicking and i do believe that there's potential downside to 442 443. But please please please please understand like this is like one little puny red bar and the fact that we've been running pretty much non-stop ever since march of 2020 at the 220 mark. It is very, very acceptable to have a realistic, healthy pullback. So that's for the s p 500, a little bit more interesting here, the russell 2000.

The only reason i say that is because amc is the biggest stock in it, and recently we've been even though amc's the biggest stock in the russell 2000. Most recently, the russell 2000 had a pretty. I mean it had a rough week, it's down 2.78, but on the other hand, amc was up almost 14, so some of the times we're seeing the russell 2000, the small cap sector providing headwinds and tailwinds to the biggest one in the stock amc. But over the past week amc did not care.

So, even though amc was in the green on a relative day basis, it was even stronger than the numbers we're just seeing right here - russell 2000, similar to the s p 500 week week. I do think has a bit more of downtime, i'm watching 221, and i want to see how it reacts to that particular level. So before we get into an additional breakdown of what's going on with the daily amc and jimmy, let's hop into this thing that came out on september 10th, and this does relate to both of our moon socks. Amc short seller, oday asset management.

Hedge fund has suffered a massive loss over the past month. This is no surprise with the stock doing so. Well, anyone who's joining. It is clearly if they're not already underwater, they're trending back to being underwater.

I will post this in the description below, but i just want to bring one thing to your attention. Amc entertainment shares have now breached the 50 price level, huge technical breakout and are now up 70, since hanbury oday disclosed his bearish bet on amc, so how much loss has oda asset management suffered? Well. Hambury had previously stated that his short position in amc was one of his biggest winners, thereby providing a hefty contribution to the lf brook fund's 3.7 return as of early august this year, however, with amc having reversed almost all of its losses in july, the fun now Stands to lose its star performer, so right there. It is kind of tough and to understand the individual entities at whether it's a retail trader or a lot of these hedge funds, who are short amc because remember with those 13f filings, it is not required for them to report their short positions.

Anyone who's managing over 100 million dollars has to do with 13f filing they come out quarterly. They report their long positions, their calls and their puts, but for whatever reason, which blows my mind, they do not have to report their shorts. So the ones who we know are short it's because they've publicly stated it such as right here, oday asset management. We know about melvin and i'm about to talk about them with gamestop um.

We know there's a host of them iceberg research. Some people choose to publicly state it and whether they're doing it for clout or whatever reason, ego blah blah, doesn't really matter right. Now, all these people are losing money and with respect to jamie, i thought this was interesting. According to s3 partners, gamestop short sellers lost.

Another 100 million in august bringing their cumulative losses to around 6.5 billion, should the current rally in amc shares continue. Its detractors are likely to face a similar fate and i wholeheartedly believe that so amc jimmy more from the narrative, the story uh, the storyline - that people are following the people who are betting against it. I know they say they're, we're crazy, we're the crazy ones, we're dumb money - we don't know what's going on, but when it comes down to something as simple as checking taking a look at the scoreboard, clearly the people betting against it are the ones who have been Losing money now, let's talk about amc's daily chart, the most recent week was phenomenal up borderline 14. Ever since we started the most recent rally when i was mentioning that hey the momentum's changing and that was as simple as looking at the macd crossing over and basically it's singing in the green as in the apes, the bull is still kind of controlling the pottery.

Ever since that point, we are up 63, most recently on friday, we did hit 51.70. I love the fact that we broke above 50 and we closer above it um. That's a huge technical breakout. It's a key psychological level, we're looking for amc to hold above that and in terms of resistance.

The next thing i have is really 53. That's where we saw some support in this time frame in june and from there i think we might be sailing up to the higher 50s, maybe even the low 60s. So for this upcoming week, my main watch in terms of resistance is 53. I want amc to hold above 50., that's just a very, very strong, showing and clearly momentum's on our side and from there the lower 60s.

In terms of support. We know we have some support around 45 and then there's major support at 42 and a half with this love the momentum. I right here i'll actually show you the macd of what's going on, let's close this out so ever since this cross back here in mid august, the momentum has clearly been in the long favor and we're showing that in the green and right now, it's not really Showing any weakness the only way - and i was alluding to this early - the only way this would be more perfect is as we're breaking out of these important levels. I want to see abnormal spikes in volume.

I want this to be accepted by a lot of market participants. We want to see spikes around 115 125, 150 plus million shares traded on amc, and that would really solidify this entire situation in our favor very quickly. Here's amc on the two-hour chart, i've been talking about how it's a bit range bound and we had multiple cup and handles and really wedge same highs and higher lows. Well, i just wanted to show you this one more time to drive it home.

We broke above that we are now officially out of this range above 50.. This is looking very good from a technical perspective, very, very, very strong, and just so you know um. This is the point where hang on. Let me first run through these numbers and then i'm going to be explaining why i think the short interest uh the next reported one from ortex.

I think the short interest is about to jump higher, so amc as of friday. They borrowed 3.57 million shares against it. With a net of 439 000. that puts the short interest their estimation at 18.42, utilization is 91.44 and the shares on loan, given this will probably be around 115 million.

So why do i think that this is going to go higher well on friday september 10th? They released the exchange reported short interest for august 31st. Well, if we look back at that, the report was for 96 million shares betting against amc, but at that point in time ortex was estimating 86, so they were off by about 10 million. So, roughly 10, a little bit higher, so they're gon na go back and look at the predictive models because remember this is estimated and then being under they're gon na scale it back up because the the people who are selling it. The people who are taking these shares out on loan and actually taking it to the next step and shorting it they're more aggressive than ortex, was predicting for so when this number comes in.

I think we're gon na see this green line. We're gon na see kind of a dramatic spike in it, and i would not be surprised if it actually goes higher than some of the highest we've seen of this year, which clocks in at 19.64. I think, there's a good shot. That amc will actually be pushing 20, and please please understand these numbers when we're talking about vortex is by definition, a conservative floor value, ortex tracks, 85 percent of legal, legitimate market transactional volume, so we're missing 15 of the legal, legitimate picture and 100 of the illegal Illegitimate picture that shouldn't be happening, and i'm here i'm just basically referring to naked shorts.

So i'm saying the conservative floor value is actually pushing a year-to-date high, which remember for us, the more shorts that are trapped in this trade. That increases the proverbial ceiling of where this could go in the event of the mother of all short squeezes and finally to wrap it up with amc. Here is the flow so on friday the bulls did dominate the day 53 versus 47. Now, let's talk about gme the on friday, they borrowed 716 000 against it, which i mean with gme being a lower float stock.

That's a sizeable number. The net was 283 000. The short interest is 12.87 percent. You take these numbers into account.

We're pushing 7 million shares on loan with the utilization of 34 percent and a short interest just below 13.. I also wanted to say this estimation, so before obviously, ortex underestimated what was going on with amc but check this out. They were off by only 60 000 on gme, so the predictive model, at least for the most recent rundown, was pretty much spot on. So i'm not expecting a similar jump in what we're seeing in the estimated short interest, as i am with amc relative to gme.

Now, let's take a look at gme's chart, so we all know what happened on august 24th. It was a great day, then we saw this bullish. Pennant it broke out, it was a fake out breakout. It was riding this line lower into the earnings and then the earnings huge gap down in everyone.

All these mainstream media commentators pundits whatever you want to say people, basically just don't like jimmy they're like this - is it it's done. It's coming back sub 150, 100, whatever it is, but no exact. In fact the exact opposite actually occurred. It based went back up and now we're still at this line.

The closest support, i'm watching 188. 190. We now have support between 178 175. I don't think.

That's the most likely i'm just calling out these major support levels. What i'm really looking for is a breakout of the key psychological level at 200 and when it can take out 202 good shot of coming back to the 212 214 area, but right here i know these days, weren't fun but gme. It should be lower like the way everyone was pitching. It is like hang on.

This is done huge gap down, but it has a secret amount of strength. The fact that hey like it should have been falling father. This should have caused panic and it didn't and to me, that's representative of quite a bit of strength or secret strength, whatever you want to call it, but clearly there is still demand for gme in terms of its two-hour chart a little bit different. So we have still that kind of range uh.

Recently, this bottom support has turned into resistance. We got knocked on it twice and with just how low the rsi has been the relative strength index, this momentum indicator. This is what i'm looking for. This is why i'm calling out 200, because i want gme to get back in this region and eventually break out of 225, which will then set up 240.

in terms of gme's flow on friday, right here, pretty much 50 50., the bulls slight edge to them 50.4 And the bears were 49.6, but still in terms of the options market. The flow was in favor of gme, just quick reminder for you there and i think it's good information and it's really not surprising that we're seeing numbers like this amc, gme the people bending against it losing boat loads of money into the tune of billions and billions Of dollars, so overall i mean this upcoming week, i'm expecting quite a few fireworks. I mean i think, there's going to be a lot of excitement. I think we're going to see volume and volatility.

Spikes and fingers crossed that it is in our favor in the upward trajectory for both of these stocks, but with all that being said, i would love to get your thoughts on both amc and gamestop in a comment below. If you want to help me out with the algorithm, you know what to do, and until i catch you next time for me and share best of luck in the markets, you.