What's going on moon gang welcome back to another dumb money recap for today, wednesday august 18th. Now we do have quite a few important things to go over, so let's hop right into it. Of course, in this video we'll be going over amc and gme amc closed out the day at 36 55, while gamestop was at 157. They were both looking pretty okay today and especially amc, but then, at the end of the day, they both of these socks, both of these moon socks, ended up selling off and a lot of that had to do with the s p, 500 and some of the Remarks made by the federal reserve, of course, we'll be going over that today, you can see the sell-off right at the end of the day, s p 500, similar with iwm russell 2000 and also on this video.

I do want to talk about what we're seeing in robin hood. Robin hood in post-market training is down almost three dollars and that's because it reported earnings and surprise surprise. They definitely missed. In fact, let's kick off with that.

Robin hood revenue doubles for second quarter, but shares fall after app warns. Trading is slowing now what i thought it was a little bit weird about this. They had some facts and figures on there, but i don't think they were really giving robin hood in their statements. A fair shake, i think they were a little bit overly bullish on it, but i do think that this twitter account zero hedge, a pretty sizable financial, twitter account uh was a little bit more fair, and i thought this was kind of funny how this all played Out start with this without kryptos hood is a disaster.

Robin hood says: seasonal headwoods. To result in lower 3q revenue hood expects considerably fewer new funded accounts in q3 than in the prior quarter. Note that hood only focuses on the options link payment for overflow and not socks. Why not? Because it tumbled year over year - and i think it was nicely summed up.

Oh this was funny. Hood is now a pure play on options and dogecoin, and then i like this summary hood, made more from trading crypto, doge and q2. Then it's from its core business, equities and options, and yes, q3 crypto revenues will be a disaster. So over the last one right here, i think i did highlight this.

More than half of all the transaction based revenue came from crypto 233 million over 451. Just so you know, uh robin hood did lose 500 million on the corner; it wasn't a profitable quarter, but anyway, from its revenue, half of it came from crypto trading. The other large chunk of it not really the other half but another large chunk, came from payment for order flow, specifically options, specifically stocks. So right now with crypto, i guess they even said that funding accounts going down for q3 they're not expecting as much from what's going on in crypto and in terms of payment for order flow.

We know that the government is actively looking into it to me. In my humble non-financial advice, opinion robin hood very much does look like a ticking time bomb. I would for me, i don't feel comfortable being long on ramadan and that's why exactly why i'm actually betting against it by being long on puts against h-o-o-d. So that's your quick earnings update for robin now.

Let's talk about why the s p, 500 and the russell 2000 dropped at the end of the day right here we have the s p. 500. This is a look at its daily chart and i just want you to know it's currently trading at 4, 38. 65 in pre-market.

We are coming up on support between 4, 30, 8 and 4 36. So that's why i'd be watching, but s p, it was ripping two days ago we did hit a new all-time high. I'm not here to say this is doomsday or anything like that. I mean we're not even that far off of the all-time high.

In fact, i could tell you we are 1.83 off of the literal all-time high of the stock market, so anyone that's trying to pitch you this doomsday scenario. I don't necessarily agree with that. I'm just here to kind of explain. What's going on and a lot of this was the federal reserve preparing for tapering this year july minute show so basically the federal reserve, the recent minutes came out and it showed that they're going to taper their asset purchasing recently they've had this policy of unlimited quantitative Easing and they've basically been buying a lot a lot of assets which, if i could most easily explain it, they're backstopping the market by buying a lot a lot of bonds.

But now that's been going on for a while, based on whatever indicators they're using they're. Saying hang on, it might be time to kind of cut back that back and that's exactly why the market is like whoa you're, not backstopping us anymore. So it's not such easy sailing up and we also saw something similar happened in the russell 2000. The reason i bring this to your attention is because amc is a part of it um, definitely not as strong the small cab sector, not as strong as the larger cap sector, but anyway this also got hit at the end of the day, and i just want To point out, the next support uh really between the region of 21150 and 213, so hoping that this gets caught there, and i hope that the s p 500 gets caught somewhere in this region if either of those break down.

Obviously i'll do some sort of technical analysis for you, so you know the next legitimate level. Another interesting thing that i thought came from the fed was right here. The fed is worried. The rise of stable coins could impact financial stability.

So with that these announcements, we saw a little bit of weakness right here in bitcoin, ethereum doge cardano seems to be holding on, but bitcoin, currently trading at 44 700.. There is major support at 43, 800. ethereum coming down just above three thousand. I would be watching the region between 2 900 2950 for the close of support.

Doge is just below 30 cents and i think there's pretty solid support at 28. So those are the levels i'm going to watch for probably the next day or two and see how it kind of reacts. But overall crypto has been hot, taking a little bit of a breather uh same thing as the s p, 500 iwm no way calling for doomsday. If anything, if i see a nice level of support, i would view that as a discount buying opportunity.

Now, let's talk about our moon stocks, amc and gme, so amc at the end of the day there was a net return of 1.23 million shares borrowed shares of 1 million. The short interest is 17.89 percent on stream. There were some trends i wanted to go over and just kind of point out how, since early to late or now but early to late june, until this very moment, a lot of things are trending upwards. Let's start off with the shares on loan.

Ever since june 10th, we've gone from 78 million. All the way up to well now we're at 106 million similar trend in the estimated short interest we dipped around june 8th. We went from 11 right now we're cooking around 18. Just things like this.

This has been the trend early to mid june. Until this moment, lots of these things are trending up up and up the shares on loan. The average age of these shares on loan has gone from 31 days and now we're at 46 days and even the number of loans given out per day the magnitude of individual loans. So it's not telling you the size of each loan, just how many individual loans there are.

That's gone from 740 per day to over a thousand. So, overall, i thought this was kind of interesting to show you various data points of whatever's been going on for pretty much half of june, all of july and now the half of august. So the past eight weeks, the past two months. Really all these things related to short interest shares on loan utilization, slowly grinding upward.

What does that mean? For us? That means that, upon a nice move upward a nice technical breakout, there is quantifiably more people, more bears betting against amc who will be captured upon any of these breakouts. The data is not lying, no matter what trend you're. Looking at we're seeing the same thing, there's more and more money flowing into the bet against amc. So if amc starts to move up, as in those people, go underwater, that's just raising the ex the ceiling of how high amc stock price can truly explode too, and that's just the short interest.

We're not talking about how bloated the amc option chain is. That was in my update video yesterday. There's a lot of money flowing into that and, of course you have the dark horse candidate of fomo buying. So right now the trends that i'm seeing in the data it has me the most excited we've really been in the past two months, because we've been seeing those trends, but now, on top of it, if you take a look at this, we're getting some nice momentum, We're finally, bending back around, we have a four green day peak right there.

We have two tests of this trend line. It's actually easier to see on this. We've now tested this trend line twice: hey, that's all right. The rsi got very close to being overbought we're taking a bit of a breather, so now we can gear up for that.

Next move and i want to see tomorrow roughly around 37 25, would be the break out of this shine line. Then we have this region resistance that i want to see that follow through and once we get up, i think we will struggle a little bit at 42 and then eventually it might be one of these things where the rsi needs to breathe. It takes us multiple attempts, after that, i think it's a major major monumental breakout if amc gets above 46 holds above 46, especially on considerable volume. In my own opinion, the breakout and hold of 46 now is pretty equivalent to what we saw of 14.50 kind of in that mid-may time frame.

But overall, i'm happy with what i'm saying in the trends and, of course, i'm right there with you. I want this higher than whatever we're at. I wish it were a little bit higher, but i just want to kind of take a step back, zoom out, calm cool collected right now, we're fine, like the you, can almost feel the winds changing. So i'm pretty excited about what's going on and i'm watching this breakout level in terms of gme, there was a net return of a quarter million which puts the short interest at 10.33.

The utilization is just south of 40. The shares on loan 6.95 million, so that'll drop just a tiny bit when this gets accounted in the morning and the short interest because of the small net return today did end up dropping a little bit when we take a look at jimmy's chart. Obviously, there's different price levels, but we're seeing that once again, it's starting to rhyme with amc. We had this actually gme had more green days in a row.

Amc had four while gme had five today like amc and like many stocks in the entire market, it took a hit at the end of the day, just because everything was selling off related to the fed statements about tapering the asset purchasing. So i wouldn't put too much weight on what happened today. I want to see how people react to the news everyone's going to be reading in tonight. See what's going on, and i want to see everyone's plan tomorrow and see if we see some buying stepping back in overall, we are currently at support of 157.

We know 150 to 145 is another level of support, so i hope it could bounce very early. If it doesn't, we could always bounce right there. I'm still looking for this breakout and hold of 164.. For quite a few days now, we've tapped 164 we've gotten over it, but we're not trading serious volume and we're definitely not closing above it.

So that's the first line in the sand. I want to see and then, after that i'd be watching 175. So, overall, that's what i have for you, your amc, update your gme update, i'm happy with both of them, i'm still long on them. Personally, i wanted to let you know what happened with the s p.

500, the russell 2000 that all relates to the fed. No longer purchasing as much assets that they were before and kind of slowing down on their policy of unlimited quantitative easing and then really. Finally, it's just robin hood had its earnings. We know that it made a lot of money from crypto and it was just kind of saying at least as professionally as they could that they think there's some really rough times ahead and honestly, i agree with them and that's why we're seeing robin hood drop even More in some post-market training right now with all that being said, i would love to get your thoughts and a comment below and until i catch you next time from me and share best of luck in the markets, you.