Okay folks, so now that we have closed out the week, I want to give you my quick thoughts on Bbbyy and the overall situation here. So Bed Bath and Boom turned into Bed Bath and Very bloody. And for context, it had an incredible run. We got back from Vancouver last Tuesday, and from the first day we briefed on it, it ran up almost 3x2 highs and now it's gone full circle back to where we started last week and perhaps it even goes lower right and to a large extent.

Usually these big runners, especially the meme names, get hit and derailed by delusion, which was our number one candidate for what would eventually derail this play. We also thought that the minute releases on Wednesday could also serve as a potential destabilizing factor in the broader market and tank the meme trade overall, but instead, interestingly enough, what you ended up getting was a major insider who held almost 12 percent of this company going and selling, which technically isn't nearly as bad as Delusion, but certainly is a huge slap to the face and thus had a similarly disastrous effect, if not worse. Usually dilution is a quick derailing of momentum and then it bleeds slowly for a while, but with this one, it was just a fast, major rug pull. The seller, Mr.

Ryan Cohen, founder of Chewy, chairman of Gamestop and one of the biggest names in the Mean movement disclosed he was selling and then it came out that he had sold his entire position in this company and with that massive dumping, you got a huge, huge exodus out of the stock right now. When the news came out at least the news of the original filing I made this video titled unpopular Opinion which I've decided to keep up and I talked about how generally speaking the situation with Meme stocks is that you have retail and the company which always includes leadership and powerful insiders trying to take back control of Meme Land aka their stock which is being held hostage by short sellers. And the inherent issue here is that the incentives and interests of retail who are buying this stock expecting a squeeze hoping to squeeze out the short selling radicals and the company itself trying to take back their stock are really in direct conflict similar to the interests of the Western allies and the Soviet Union. in that video I was airing my concerns and my frustration that in stock after stock you are seeing of course retail going and teaming up with the company to what squeeze out short sellers only to find the company turn around almost instantaneously every chance they get to stab retail on the back.

And I understand fully well that you are not allowed to say that Mr. Fudster Fuddy Mcgee Oh no, Mr. Fudster is helping me occupying short sellers by suggesting that perhaps these people over here aren't your ally either. You should not even think for a second about protecting yourself from these people over here because you gotta focus on enemy number One.

I saw this comment the other day and it said this: Charlie is a total clown literally said triple B Y can run through 20 to 25 fast and now that it has done that, they is saying consider take profit slash having risk management on dips This video is sponsored by short Sellers. Now full disclosure: I do moonlight at the local circus, so this isn't a completely Bs comment. But the point is, you see no shortage of similar statements like this all over social media, all over Reddit, all over pretty much any retail form. We are rapidly heading into this area where any form, any form of personal responsibility such as risk management, any form of having a trading plan, any form of self due diligence that's outside of crowd think we are getting to a point where all of that is considered what short seller sponsored fud.

And when you have made the decision that the only thing standing between you and a massive loss is a man who sells overpriced dog food, well, you've got a huge huge problem. I get it. Hey, there's a lot of hypocrisy with the cell. I don't think it was upright of him to do that, but the way that I see it is that complaining that a Ceo, an insider, or any sort of massive stakeholder within a company complaining that they are taking profits off the retail traders back? Well, I think that's akin to blaming Soviets for pushing communism post World War Ii.

It's like, obviously that's what their long-term goal was. I get it. Nobody wants to say it because they're going to get the little pitchforks at them, but I am seeing company after company go and do what well slap the retail trader right in the face and the retail trader will look with their swollen cheek and they'll turn around and look at the short sellers and say, why did you do this to me Unfortunately, and I wish this wasn't the case, but a lot of the leadership at various meme companies is looking at the retail traders who have brought them tons of money, bailed them out again and again, and allowed them to enrich themselves, and they're looking at you like you're a complete idiot. They're thinking, hey, we just keep screwing you again and again, and you're blaming the other guys over there because they're screwing you too.

Quite frankly, we saw evidence of this last year, but this year it has become very, very apparent that they have one intention and the intention isn't to help you, it's to help themselves. Shocker. They should be bowing before you, not the other way around. But anyways, folks, look at the end of the day, this is a trading channel and my goal is to find plays that have potential catalyst potential opportunities in any way, shape or form to trade off of, and of course present some different strategies that are practical to help manage risk and try to capture some of those movements.

And sometimes we hit big, sometimes we miss big, so on and so forth. If you watch the channel, you know the story. But I think that for folks who haven't heard this message loud and clear, Bed Bath and Beyond the situation with Bed Bath and Beyond is a huge wake-up call for anybody who thinks that they can just blindly trust crowd. Think For anybody that thinks they can just blindly trust the company to have their best interests at heart, you need to be able to take personal responsibility for yourself and ask yourself, okay, how am I going to manage my risk in this? What is my plan on this? What is my overall strategy and does the data back up that strategy.

Now in terms of the setup on Bed Bath and Beyond moving forward. Hey, this was a meme stock before Ryan Cohen and it'll probably be one long after. But if you didn't learn the lesson the first time, the next wave should certainly be taken as a trading opportunity with risk management, not a blind buy and hold right. Have a good weekend and we'll be back Sunday.