's up chicken butt now i know i know i know i know you're're not supposed to start off a video with such vulgar language. Psychologically it puts on defensive but i don't give a hoot because i'm having such a good day and i hope you are too this is your market wrap up for august first the first day of the month. The first day of the week. Let's get rocking.

We have a lot to talk about very quickly i want to get into the overall situation from the macro economic perspective. So we'll look at the end to see some of the reports what do they mean what do they not mean. But i really want to spend time on two key things numero uno color. Me surprise.

It appears as if brokers are once again screwing over people like me and you retail traders retail investors. We got to get into that story because their nefarious ways are continuing and number two i want to get into an equity. That is ripping. I'm talking this thing is squeezing up thousands and thousands of percent and yes.

Some other people are talking about it. But i think it deserves a little bit more time because the gains in this monster are crazy. So we have a lot to get into. But before we do that if you want to help me out with the algorithm it would be awesome.

If you could hit that like button. And hey don't forget to join up with the moon gang by destroying the subscribe button. Thank you thank you thank you and now with all that other way let's get rocking. Okey dokey.

Artichokey. So here's how things settled when the day went ding ding ding ding the s p 500. Was down point three percent. The cues were pretty much break even and so was the russell so pretty much a muted day with a little bit of a bearish tint to it if you will amc had a solid date up.

55 gme was no laggard up 22. And we will be talking about hkd. The gift that keeps on giving up 85 percent. But before we get into all of that very quickly just because we are starting off a new week.

A new month. All that stuff yes the second half of july was amazing the s p 500. Ripped close to 10 11 at one point. It was actually the best month since we've seen them since november of 2021.

But i just want to let you know seasonally the start of august is a little bit bearish the first week seasonally does it have to play out this way this time around no not necessarily i just want you to know about the seasonal influences just so i can say that you know you have the information and do with it. What you will now a little bit more specific to what's happening in this particular year this morning. We had some pmi numbers. We had some ism numbers and overall.

They were actually pretty good it showed as if supply was going up demand is coming down. So that's good in terms of fighting inflation. Just so you know at 10 am tomorrow. We have quite a few reports.

So expect some volatility. A half hour into the market trading day and then at 6 45 at night. We are gonna get comments from one of the most hawkish fed members. Mr.

James bullard. So make sure that is on your calendars in terms of earnings. We have uber amd paypal jetblue marathon marriott airbnb under armour's coming up on wednesday. We have quite a few obviously i know if you're watching this video.

You're going to be very interested in amc on thursday. We have draftkings on friday uh just want to call those all out for you and in fact we might as well very quickly talk about amc. Because it was ripping today at least relative to everything else amc right here up 556 a beautiful daily breakout. We got above this high on the 28th we've closed above it to me that is a technical bullish breakout.

The next level i care about is this region between 16 20 17 20. We see the macd crossing back over we're seeing either the build up of bullish momentum or the lack of bearish momentum. No matter what it is if you're in amc. It is good for you obviously we're seeing a little bit of a bullish push.

I mean even right now in post market. It's seen quite a bit of strength. It's up another point four percent. So right now as we head into earnings after the market closes on thursday.

Pretty excited what's going on from a technical perspective with amc. But don't forget we are all waiting for adam aaron to hit us with some sort of big announcement of when pounce so i'm excited to hear that definitely i. Know many of you are amc right now up. 195 in terms of short interest the cost to borrow is 98.

Percent. The utilization is still maxed out. I just want to give you those numbers and because we're talking about it just very quickly here's a look at the daily chart of gme once again we are getting a little bit of a technical breakout. We're seeing the macd once again turn back around a lot of similarities between amc and jimmy as there has been for quite a while i like the pattern of higher lows in terms of gme's number right here 25 short interest.

We have a shares on loan of 90 mil. That's definitely going up costs tomorrow. 36. Utilization maxed out now this brings me to another important thing.

We got to talk about about how brokers are absolutely screwing people. Over once again sounds like the gme stock split slash dividend has completely destroyed some brokers back office systems. I keep hearing about the nightmare of dealing with tda also sounds. Like overseas brokers are having serious problems and german brokers are struggling getting shares to their people right here.

This is where it gets kind of wild. I implore you to read this entire thread. I think generally with gme. We've seen a lot of back office problems such as spikes in ftds fails to deliver it's possible that distributing the split as a dividend has exposed a lot more problems in how brokers are booking and holding shares for their customers.

Finra should investigate i know this is not surprising to anyone. But yes a year and a half has passed maybe even more than that i don't know not the best at math. And we're finding out that yes brokers are still not doing what they're supposed to do in terms of owning the shares there at the brokerage. Which should be easily distributed to the people who deserve.

It now my gme is held on public. I double checked it today my shares did get to me. But i'm asking you if you're in this video. Watching this video and you own gme if you're in gme.

Let me know who's your broker. And did you get your shares or not because it would be nice to have a little bit of just even anecdotal data of what brokerages are currently not working. But it does seem as if we're seeing that being reported. So once again.

We are seeing some unfortunately shenanigans going on with brokerages and gme and really stocks that apes seem to care about retail traders and investors seem to care about um. It's a very very sad thing. But uh please in a comment below let me know your brokerage. If you have jamie and if you got your shares or not because a lot of people are reporting that they're not getting what they want.

But fortunately things are looking a okay on public. Which is where i have my amc gme and some other stocks the one that i think we should get into just speaking of stocks that are going absolutely haywire hkd. Yes. I know a lot of people maybe not a lot.

But at least in stream. People are all excited about it and because it's ripping. This is look at this this thing is just not stopping ever since it really got moving on july 27th. At one point.

It was up 1784. I mean check this out really ever since the start here july 22nd up 3 64. This thing is ripping today alone it gained 85 after gaining how much on friday 145 the day before that it gained 179 percent. This is crazy now i want to be explicitly clear.

I have no hkd position. I miss the rocket ship if you're in it congratulations to you i hope you make a boatload of money. I'm not betting on it i'm not betting against it i have no position. I have no plan to make a position.

But i want to cover it because this is pure insanity check out the or text numbers. Yes of course. It's on the threshold list. You think they have all the shares to cover.

What's going on utilization max out costs to borrow maxed out right here. There's no way this short interest is right it can't be calculated right. They're we're off by a couple decimals. Something else is going on.

But this is a low low float stock. I mean usually we're talking about a couple million when we're saying low flow. This is a couple thousand the liquidity is not there and that's exactly why this thing is ripping to kingdom come. Because the shorts are being taken to the woodshed once again i have no position.

But look at this thing this percentage gain is ungodly. Thousands and thousands of percent. So this is a reminder that yes short squeezes are very very real things and right now the people betting against hkd are probably crying themselves to sleep. So yeah obviously i want to know about your gme and if you got your shares.

But also just let me know i mean obviously i missed this rocket ship. But i want to know what your thoughts are with hkd are you in it is it going to come back down obviously. It's going to come back down. The question is when how high do you think.

It's going to go because not that long ago this was trading at 28 now trading at 763 that is crazy very quickly just to wrap this up in terms of the overall market. We're still in a bullish trend. We still made a higher high. We still made a higher low.

But things are getting a little bit more lethargic things are getting a little bit more tired seeming. It seems like after this crazy run starting on july 14th. The bulls are finally running out of a little bit of steam. Obviously we have to see how things play out tomorrow right now things were a little bit shaken in the market.

Because nancy pelosi is going to taiwan. Which will most likely increase tensions between the us and china and that has an impact on the global economy. Our economy. Our stock market so that was a little bit of shakiness but overall.

I mean. It was pretty much a premium burn of a day. So i want to see what's happening tomorrow will we continue with the higher highs. And the higher lows or are we going to break down below.

Today's low and maybe start a retest maybe we're going to check out 406 maybe. We're going to check out 404 maybe. We're going to check out the gap bill of 40150 those are the key levels. I'll be paying attention to if the bulls are truly running out of momentum.

But right now pay attention to the earnings announcements pay attention to macroeconomic development and pay attention to the craziness of amc gme and right now hkd because it is running like no. Other that's what i have for you i'll catch you in the stream tomorrow. I'll catch you in the update video have a beautiful day peace out.