What's going on moon gang welcome back to another dub money update in today's video, we'll be talking about the recent developments with amc and gme. I want to talk a little bit about cryptocurrency, specifically some comments made about bitcoin and also i'll be talking about the technical structure of sheep. But, most importantly, i finally had one of those mom. I made it moments.

I was officially called out by a hedgie and, of course that means we got ta talk about it. So with all that being said, let's hop right into it. So for today, monday october 11th, both of our favorite moon stocks, amc and gamestop, were in the green green green amc closed out the day at 37, 25 and gme closed out the day at 178.10. But before we get into the details of both of these.

Just so you know for the overall market, we still need to consider what's going on with the debt ceiling. Yelen warns of catastrophe. If congress doesn't handle debt ceiling issue, so we know she keeps referring to october 18th as the calamity date, but the senate has passed a bill that would give us a temporary extension to december 3rd. They basically cleared almost half a trillion dollars for the new debt ceiling at where at least they would push it.

So we're looking for the house of representatives to come back this week. Remember they have off today because it's a holiday, we're looking for them to come back this week, do their job and figure out what's going on at the debt ceiling to at least continue to kick the can down the road. My personal prediction: remember: i'm not a financial advisor, i'm not a fortune teller, but i am looking for them to basically do this get get the debt ceiling figured out, at least in the short term, and on that announcement i am assuming that the market will react Positively - and i definitely hope that it plays out this way, because today at first we were looking pretty strong, but, as you can see here, the s p 500 tracked by the etf spy had a good morning, not such a good afternoon. In fact, it closed below this previous resistance now supposed to act as a support at 4 35..

The next support i'll personally be watching is 4 33 and after there, if things are really actually going to turn bearish i'll be watching 427.50. So those are the levels i'm watching in the spy in the short term, i'm looking for the political announcement to create uh, almost a a good fundamental reason for support to be found, a bounce off of that and then a return to a final gap fill up Here at 441.90, that's what i'm watching in the spy very quickly in the queues rejected at this trend line for the bazillionth time going down, the closest support is probably sub 354 and in terms of iwm, i like to pay attention to this. Just because amc is in it, we look, it looks like we have. This gap fill at 220, 20.

uh, so we're off by a couple cents. Today we didn't fill it by five cents, so i'm basically looking for that gap fill in just so. You know there is additional support at 2 18.. So that's your quick macro overall look.

The main thing is pay attention to what's going on the debt ceiling if they pass it look for the markets to go green. If there's some sort of additional gridlock look for people to kind of at least be cautious with the overall market which could lead to some red days, but with that being said, we have to jump into the exciting thing here. Your boy officially called out by hedgie iceberg research. So back in july, they said we are short amc and it was more of a fundamental play and a lot of people within the community.

If you're watching this there's a good chance, you know that value comes from many things, not just fundamentals and right here. Amc and gme have extra value based on the community, and today they announced we covered our amc shorts down 30 percent from our initial position. So i have a of course. I want to poke fun at it, but hey they admitted it.

I mean it does take a big person to admit be like okay, we're wrong, we closed it for a loss and they said it publicly um. I give them a little bit of credit for that and there's more credit. I do want to give them. We agree with the apes when they demand more transparency on the role of market makers in meme sagas payment for order flow structurally generates conflicts of interest.

100. Agree with that, but there is frequent confusion between market makers and activists - short sellers different crowd. So i agree with that, but i also don't necessarily classify them as an activist short seller. Obviously i have many qualms with market makers in the current system that we have going on in terms of market structure and in all honesty i am not blankingly against shorting.

I think. Sometimes there are good reasons to take a short position. I just so happen to think that amc and jimmy are not a good reason. Obviously, for them they are fundamental players, they do fundamentals and they create positions on it and this time it costs them.

What was it? It was about 30 percent of their position. So i need to clarify - i am not against short selling, i'm against malicious sort selling and i'm against really the current duopoly of market makers that we have this very potentially illicit and clearly nefarious system. The duopoly that the cronyism - you don't know what it's going to lead to and i would argue it's strongly sets us a system where you could have more of these conflicts of interest so to clarify i'm not against shorting, i'm against manipulative shorting and stock bashing and Intentionally driving a stock to the ground just for some profit, but what i find interesting here is confusion is often spread by youtube profits and, as you see it's about to go to trey and myself, uh, not a youtube profit. Their business model is not to be right anyway, so they'll be fine and they'll continue to basically prophesized, so they called out trey's tweet here and then mine.

It was just. This was a joke. I mean geez, like back in july, talk about having like thin skin, starting to feel a bit hot you doing. Okay, i mean i never pitched myself as a comedian, but i thought this was a bit funny and uh to clarify, like i feel, and just so you know we may reopen shorts later, so, basically they're throwing in the towel on amc, shorts and obviously fingers crossed That many people start to follow suit.

On this particular ideology. I think it's crazy to still be short, but that's my opinion, but i do need to come back to an important thing of. I don't think they look into who i am and what kind of content i do. Clearly i never tell anyone to buy.

I never tell anyone to sell. I am here for market education and market entertainment to teach what about market structure, to teach terms, to teach about options. Crypto all this, i'm not here to say we all need to buy this stock. We all need to sell this stuff.

I am not a buy, sell signal type of thing. It sounds like that's a very good way to get in trouble with the sec. I implore all of you to do your own due diligence and you shouldn't be competing. Any social media person out there for any trade, especially these people who are selling these services, and then they don't show you their own p.

L. I find that to be one of the craziest, most malicious things currently in the retail training public social media. That junction. I find it infuriating so with it, this youtube profit.

My business model is not to be right anyway. Uh, no, my business model has nothing to do with a stock being right or wrong. It's all about education, just explaining what's going on in layman's terms, so the average person can truly understand it, because people within wall street, like iceberg research like to shroud everything in a in a certain, i guess sense - of secrecy, because they like to feel more intelligent And informed than they actually are um, but hey finally called out by a hedgy as a youtube prophet, but i i don't know, i think it's funny speaking of amc. This just came out, at least within the us, no time to die.

The new james bond film, sneers 56 million in the domestic box office debut tops 300 million globally uh. These are some nice numbers now they're, not as nice, as some people were originally predicting. For example, the film hauled in 23.3 million on friday 18.1 million on saturday and is expected to generate 14.5 million in ticket sales sunday globally. The film has garnered 313 million since its international release.

Two weeks ago, while some box office analysts projected the film could reach 80 million or even a top 100 million during its debut in the us and canada. The latest james bond, film's opening numbers, are still a solid showing for pandemic era. So right there. I think some people said it very high 80 100 million for this one individual film, that would have been very impressive.

We still came in at a very strong, strong, showing and in fact, over the weekend it was still 100 million weekend when you look at the other movies that people were watching and remember. This is coming back to back on another very strong release. This was last weekend with venom. This is the one i actually personally saw this weekend.

When venom came out, it was 90 million we're seeing very, very strong numbers. This concept of the theatrical experience being dead. It's just erroneous, like people are still going to the movie. A lot of money i mean bond itself, 300 million in totality - that's impressive venom, clearly already over the 100 million mark.

I mean it brought in 90 million on its first weekend, so we're seeing all back to back to back great movies. I mean really 2021. There's been a host of strong performing movies, black widow, shang chi venom, no time to die. We still have top gun too to come out.

We have eternals to come out there there's a whole host of movies that i strongly believe. A lot of people are going to go to the theater, for so with that being said, that's a little bit of your fundamental update on amc. In terms of the short interest update, we are seeing a bit wonky numbers on ortex today. I don't want anyone to freak out.

It is because of the holiday, but just so you know where we're at generally utilization of 86, 87 percent shares on loan, 114 million and the short interest still above 20, and just so you know the shorts are paying paying their cost to borrow fee. It's around 1.5 of about 73 days, so really they're hemorrhaging money from the fact that they're, just in the position, no less the fact that some of these days, we have nice momentum, these nice periods of strong green days back to back to back, which is causing People like iceberg lettuce here to lose on their position, such as being down 30 percent in terms of the technicals. The closest support i'm watching is around 35 36. We do have this trend line, which i'm watching i'm watching kind of a new structure.

This lower highs higher lows an overall wedge just to see how this one's particularly playing out major support around 35 34. Watching this looking for the breakout of the high 38s from there, there is a most likely going to be a little hiccup at the key psychological level of 40, then very closely watching 42. Still in hopefully the short term, a gap fill play up to 44 20.. That's my main short to medium term play.

I very much am a fan of playing gap bills. We have this gap from september 17th through the 20th. That's one of the main things that i will be watching on amc's chart, but right here it shot up sold off, so we had bullish momentum, bearish momentum, finally, making a base and one of the main things you could pay attention to is looking for this macd To cross over look at this these periods of strength and then weakness, it looks like the weakness, the bearish momentum slowly but surely ceasing and let's look for to see how much the bullish apis momentum can really build up. Remember currently, trading at 37 short to medium term, looking for this gap up to 44 20, and hopefully we have enough momentum.

That brings us up to the 50s, 60s, 70s and so on. But with all that being said, remember not a financial advisor. These are obviously just my own opinions. I implore you to do your own dd.

Now, let's talk about gamestop, which was making headlines today, gamestop outperforms market on strong straining day. On top of that, we got a nice uptick in its google trends, a lot more people searching gme and gamestop, and on top of that, over the weekend at least on sunday, it was the most commonly written about thing on wall street bet's subreddit. So that's exciting! For whatever reason, we're seeing a return of interest in the stock and with both amc and gme, these are socially driven. So, as you see, they're searching whether across whatever social media, you want to talk about.

Generally, that's a pretty good thing and hey at one point. Today, jimmy it was all the way up, i mean we're at this resistance level of 190. It hit 188.50. Very impressive, obviously didn't hold it, but same thing as amc bullish, bearish we consolidated and see the macd it's finally starting to cross back over the major support.

I'm watching is 165. i'll, also be watching 170 and then looking for the breakout of 190, followed by 196 and my target, hopefully in the short term, is this key psychological level of 200. in terms of amc and jimmy, it is very difficult to argue that the Momentum is just not turning around on both of them. That's what i'm seeing in the rsi, that's what i'm seeing in the macd and that's what i'm seeing in the price action.

The the golden question is: is how long will it take to the momentum to truly turn and when it does turn, how long will it be sustained for in terms of the short interest, gme has a utilization of 37.34 shares on loan of 8.5 million and a Short interest of 14.62 percent uh, and just so you know, the average age of these shares on loan is 42 days still paying a fee so very similar to amc's the shorts. It's expensive to be a short there's. No, if ands or buts about it. So amc gme, obviously i'm right there with you.

I wish they could be both exponentially higher, but hey we're we're battling a very, very serious opponent. No one ever said it would be easy and no one out there should be guaranteeing anything. There's risk reward in every situation and for me personally, as an ape, i'm more than happy to accept the current risk profile that we're seeing in both of our favor moon stocks moving on just a little bit right now, let's talk about crypto crypto's been wild. Lately, jamie from i believe, jp morgan, let me just double yep jpmorgan chase calls bitcoin worthless but compares it to cigarettes and concedes clients wanted.

I mean just with the title like that you got ta laugh. So this is uh. I mean he's high up there, ceo and chairman of jpmorgan chase. I personally think that bitcoin is worthless, but i don't want to be a spokesperson for that.

I don't care, it makes no difference to me. I don't think you should smoke cigarettes either blows my mind. You're, comparing buying and investing in bitcoin the same as smoking, cigarettes um. It seems weird and then his follow-up comments were even more strange.

How do you know it ends at 21 million referring to the overall float? Basically, did you read all the algorithm? You guys all believe that i've always been skeptical about stuff, like that, so someone will have to prove it to me uh. This is like just it's one of the most weird red herring like. How do you know towards like? Did you read the algorithm? Are you checking out what's going on like that blows my mind, the entire white paper has been thoroughly reviewed by arguably millions of people. Yes, the mining ends at 21 million.

This that's one of the most insane things uh, honestly more insane than comparing it to smoking. Cigarettes, this commentary to me sounds like a guy who amassed extraordinary wealth before this rise, if in technology, something that he just doesn't understand so he's naturally gon na be against it. So i really wouldn't put too much weight in it for me, especially with the talks of the insane rise in inflation right now: digital gold bitcoin. I think the bowl case on it - is nothing but strengthening.

I truly do i'm in bitcoin myself, and i shall let you know, obviously, i'm in amc and jimi uh and i'm about to talk about she, which i'm also in. But to me it's a very logical hedge against inflation, which is clearly where at least the us and many other world economies are currently heading. Speaking of she, she knew rebounds 40, despite major selling of sheep whales. So the fact that uh, some of these whale wallets did unload, but the the token is still showing strength, shows me how ravenous the demand is and the the support from the sheba army.

So i very quickly just want to go over the charts right here. Bitcoin is just ripping ripping ripping so smoking. Cigarettes are not. I mean geez.

41. 000 are all the way up to 57 000. The next resistance i have on bitcoin is just sub 60 000. So i'm looking for that in the short term, it's around 59.5.

I would love for btc to recapture 60 000 and then, in terms of sheep, this is showing an incredible amount of strength, so it rips lower highs, higher, lose classic bullish pendant in the stream. Today i was telling you watch for the recapture of .0003. Let's just call it 30., it's just easier to look at these numbers, so bullish, pendant kind of a weird breakout. A breakout nonetheless currently battling right above this most recent relative high of 30..

If this can hold, especially on volume. The next thing i'm watching is 36, which i think we could see in the short term and right after that, i'm watching 50.. So right here, if we hold 30, i'm watching 36 from there 50. But overall, this is a bullish, technical structure and we're seeing a nice follow through and that's in relation to the fact that some of the whales got out.

That just tells me how strong the buyers truly are so very excited for the future of sheep and bitcoin. Very bullish on crypto and right now, i'm very very happy in what i'm overall, seeing in both amc and gme our favorite moon socks. So right now i know the overall market because of the debt ceiling being a little bit on edge, let's say, but i truly believe when they resolve those issue and people go from being risk off to back to risk on. I think we're going to see a continuation and a lot of things in everyone's portfolio to be green, green, green.

So here's to hoping for all of that, but with it all being said, i would love to get your opinions on anything. I discussed on this video in a comment below. If you want to help me out with the algorithm, it would be truly appreciated if you could drop a like, and if you haven't already don't forget to subscribe to, the moon gang liking. Subscribing are completely free and the algorithm just runs on engagement.

So, like subs comments, all that stuff does help get this video in front of other people. If you think that's worthwhile, but until i catch you next time for me and chair best of luck in the markets.