Hola me amigos. Welcome back to another market wrap up with me, matt i'll, be talking about the price action of both amc and gme. Today, yes, the price action was a little bit muted, but i'll be explaining why? I actually think that this type of consolidation is a good thing. It's a bullish thing, we'll also be diving into what in the world is going on in their data, we'll be taking a look at ortex, and i also want to take a look at some of these marinara stocks and why we saw an explosion at the end Of the day, so if you're a fan of the devil's lettuce, you're definitely going to want to stay tuned and listen to that.

So with all that being said, let's hop right into it. So when the market went ding ding, ding, ding ding today, at the end of the day for thursday march 24th, amc was at 2023, which was a drop of 2.5, and jamie was at 142.40, which was a gain of almost one percent. Now, if you've been paying attention to amc and jamie over the past week, and especially over the past two days, you might notice that the price action was a little bit muted. And i know this might sound counter-intuitive to a certain sense.

But i want to explain why this is actually a good thing, so let's look at what's been actually going on so over the past. What eight days here jimmy has gone from 78 all the way up to 142, which was a gain of over 82. In terms of amc, we've gone from 1350 all the way up to above 20, which was a gain of almost 50 percent, and once again, this happened in eight days, eight trading days. It's getting to the point where you could argue that it's overextended, the technicals are too hot, the macd, the rsi, whatever technical indicators you like to use when you're looking at this movement on amc and jimmy, yes, it is over extended.

This is a healthy form of consolidation. I in no way whatsoever mind the fact to have a little a couple days of training, i'm not even just saying one, even if it's muted for a couple days, i'm cool with that, because this is what it means. It means that yes, we've had a noteworthy rally, but by the time you get there if you're consolidating as in not really moving much. That means the market at large has accepted that new price.

That's amazing: we've accepted a gain of 80. We've accepted a gain of 50, that's good! If we're now kind of hanging out there think of it as almost you're building up the scaffolding around a building, you got to make a new base, that's higher and then from that base it gives you the opportunity to go even higher and higher. It's all about. Building a sound foundation at every single base opposed to, if you don't you're just going to rip, but overall, i think the high water mark will be less instead of like really kind of grinding it out a new foundation, a new foundation, a new foundation.

So i actually really really like this. I understand that if you bought out of the money, yolo calls that expire on friday, the 25th. You might be a little bit angry about this and you might wish that it kept going and going and going, but that's also the risk you take on of really taking on such a risky type of a plane out of the money expiring in short term. That's obviously, a high risk high reward thing so in terms of a sustained movement to the upside, this type of movement, followed by consolidation, followed by another type of movement, similar to what we saw - that's 100.

What i'm looking for now, just for gme! I do want to point out there's a gap fill to the bottom side that we were so close to filling today at 125.79, it never ended up coming. Instead, jamie started to really once again flex its muscles. We closed above 140, which is a key level, and i'm still watching for this key breakout at 160.. In terms of amc, we are right in this zone of we had some support.

It turned into the resistance and that's exactly where we closed so i'll, be looking for an initial test of 22. But what i really want to see - and what i think would be beautiful, is if we get up to this 24 region and this trend line and once again consolidate right there and then boom. We build up another leg of momentum after giving the rsi the relative strength index an opportunity to cool off and in terms of jamie i would love actually if that happened right around 160, because as you can see, this would be a mega breakout level. Now, in terms of the data related to what's going on here, we saw an increase in amc short interest: 21.3 percent.

The cost to borrow was at 2.7, it went up, but it's still kind of awkwardly low utilization still 100, as it's been since february, 8th and the shares on loan 134 million. Gmes is continuing to go up at a noteworthy pace just below 25, with a cost to borrow now of 27 utilization 100 and shares on loan of 21.6 million. This particular situation right in front of you with gme. Yes, we've seen numbers, especially if you're talking circa like january of 2021, be like even crazier but right now.

The trend of this is exactly what the bulls want to see for a short squeeze, and it's exactly the type of trends that an actual short seeing would probably be very, very nervous about. This is crazy. The numbers are up and up and up with the price action think about this. More and more people are betting against the stock and the price is going up.

The same could be said about amc, but the metrics that we're seeing with gme they're to a greater degree. So right here, i'm looking for a bit more consolidation and overall, the picture is looking pretty apish. In my opinion, another crazy thing that happened today was, as we were, getting close to the end of the day. All these jazz cabbage stocks started to really move till ray ended up gaining almost 22.

We have sndl that gained 23 cgc gained 11 and an etf that tracks all these marinara plays was up almost eight percent, and why this all happened. This wasn't by a fluke or anything like that cannabis stocks move higher. Amid report house rules, committee has scheduled a monday afternoon meeting to prep federal marinara legalization bill for floor action. So remember.

If you ever watch that video of how a bill becomes a law it has to pass the house, then it has to pass the senate. That has to get signed by the president, so obviously there's still quite a bit of a like a road that this bill will have to take to become a law. But the argument is obviously it's at least better than nothing, and then for those of you who are just curious of like okay. Could these get squeezed well in sndl, there is a short interest of 11.6 costs of borrow 14 with the utilization of 97 and until raid there's a short interest of 14.6, with a low cost to borrow of 2.9 and a utilization of 97..

So could some of the people betting against these stocks get squeezed out? Yes, but the metrics aren't really indicative of like some crazy, crazy mo scenario, at least not right now. Obviously that could change as soon as tomorrow, but this is just what we are seeing in real time. So, congratulations. If you got any of this, because that was obviously a lofty gain right now, i'm still really liking what i'm seeing in amc and jimmy uh the consolidation at this level picture perfect.

I would i'm very very excited to see how this all plays out. That's what i have for you very, very quick reminder if you are watching this on thursday march 24th. I want to remind you that i will not be streaming on the 25th. I have to do a bit of traveling, but i will return to streaming on monday.

So i will unfortunately be unable to stream, just because i bought these plane tickets and i have to go travel. That's what i have for you. If you enjoyed this video, it would be awesome if you could help me out by dropping a like if you haven't already don't forget, to join up with the moon game by hitting the subscribe button. I appreciate you taking the time out of your day to watch this video and i'll catch you in the next one have a be a beautiful day.

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