Okay folks, so we have a lot to talk about. Number one, I want to give an update on the hottest plays and biggest moves today. Number two, I want to talk about what the hell Bitcoin just did and number three, I need to give an update on Ooga Booga, Amc, and the only thing that I ask in return for all of this is that you hit that ravishing like button and also don't forget to subscribe either. Also, this video is sponsored by Public.

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Okay, let's go in and start with Bbig. It broke our beautiful red direction across the mainland about an hour and a half before close and then it just broke off on a tear 21 on the day, more in the after hours. Yesterday we were talking about how cost to borrow and estimated short interest was skyrocketing at a period of time where if we saw more risk on trading, we get more continuation of that two-day cool off pattern followed by another rally and that pattern repeated itself today and resulted in a very healthy push into the after hours. Bbig has done a very very good job at keeping retail traders interested in it, and that's resulted in some of the best staying power we've seen for one of these retail momentum stocks that has already run quite a bit.

Okay, Clove, our clove play has woken up a bit today. Although when I say play, I mean fundamental high conviction play. This is a play that I like in the long term. It just so happens that it's been heavily shorted and because of the growth situation and the S-pac hate, it's down at very low prices.

My take is yeah, we love the company, but let's just roll with the punches. And when you get those meme squeezes, lock in some profits and that's what we said. Last time it got a meme squeeze up to that 28 level, but since then Clove has pretty much done not much of anything until today when retail finally started picking up on it and putting in some more buying pressure. Now in terms of dealing with short squeeze candidates, what I will tell you is it's very difficult to actually gauge when exactly the buying pressure is going to come in.

But it does seem that one of the consistencies with a lot of these plays, especially clove, is that when they die off to historical supports like Clove has done many times, that's the line where if you wait long enough, it tends to have another momentum rally. Of course, I wouldn't recommend just buying and holding any given stock just because you're hoping for a squeeze because the squeeze may never come. But when it comes to a high conviction play, I say, hey, fair game, right? Okay, sprt for the Spartans in the room. Shorts have continued winning the game on this.

We haven't seen risk on trading come back to save it as of late. at least not enough, but I do believe there's a solid chance at a spike and a rebound rally from that 10 15 region because of that pre-anticipatory activity that could happen before that vote, which again is taking place on Friday. One of the other stocks that I've been increasingly impressed with is attur this morning. I said seeing high retail interest on many forms as a short squeeze candidate looking for hype rallies this week to heat up and it did have a short-term blip this morning.

But my thought process on this play is the continued retail excitement for it combined with retail interest suggests more breakout opportunities. Okay, next, the bitcoin drop. So Bitcoin went from highs at 53 000 yesterday to 43 000. This morning, Bitcoin basically knocked off 150 billion dollars in market cap within the span of about 24 hours, and most of that was within like 20 minutes.

That's like taking the entire Mcdonald's corporation and wiping it off the face of the earth like it never existed. That being said, I would rather lose money on Bitcoin than lose my aortic valve on Mcdonald's. And of course, because of the bitcoin sell-off you saw almost all of the other major crypto sell-off as well: Bludgeons and Ethereum Cardano, Dogecoin, Xrp. The only thing that was solidly up today was Solana.

Point blank though. Huge fear today. And as I said this morning via Twitter, there's nothing that screams overreaction like an entire sector tanking because of a rocky start as the first crypto is adopted as legal tender. Which leads us to the main reason that this dropped.

Today was the day that the first country ever was going to be adopting a cryptocurrency as a valid form of legal tender. and that country is El Salvador. and in order to encourage people to start using it, Salvadorans were all gifted about 30 bucks in a bitcoin wallet that was made by the state called Chivo Wallet. So what's the problem? While it was off to a rocky start, you see, Chivo Wallet had some glitchy, glitchy president tweeted early on in the rollout that there were some problems with this Shiva wallet and that because of insane demand, there were some delays and interruptions which created the catalyst for the massive flash crash.

Basically, some institutional whales saw that as code green to panic cell. Other institutional whales said, hey, wait a second I can make money off this move and make some short-term dough off my short-term hedging positions and then just re-buy back in at lower prices on the short-term hedging positions Cha-ching on the long-term outlook position. But anyways, the big whale sailing caused more whales to sell, which likely caused margin calls and then algorithmically triggered even more sell-offs Before you knew it, it was down to like 43 000 to which the President of El Salvador said buying the dip and he said it appears the discount is ending and he then went on and thanked a news outlet that ran a critical story of the rollout for the dip. Yes, Grade A Trolling.

but let's be real. it's not surprising that a Latin American President would understand how to deal with spicy dips. That being said, here's the facts: They literally announced only 21 million dollars worth of purchases. How much did Bitcoin take? Hundred? 150 billion dollars, 21 million dollars of purchases, 150 billion dollars in tanking.

All started off by the El Salvador rollout being a little bit shakier than people wanted. Now let's be real for a second: is the symbolism behind a smooth rollout worth 150 billion dollars? No, But the story of adoption is, and that story hasn't changed over the long run. The symbolism of this has nothing to do with El Salvador. El Salvador just started it.

This isn't going to be the last country to accept cryptocurrency as a legal form of tender, and as they do, the more valuable they will become and the more reasonable it is for institutions to adopt it themselves. Quite frankly, what we saw today is nothing new, just more fun that we've been seeing for years, buying opportunities on a long-term uptrend. Okay, let's go ahead and move on to the ooga-booga segment. Amc has continued its upward path that it's been on since the start of August.

Last week, we said we were eyeing a continued stair step, which included in our projections a dip recovery that caused this to break out. Past that previous resistance into the 50s, we've seen a partial dip recovery not a full one, but a partial dip recovery and we are yet to see that break into the 50s, but the trend is about as bullish as we've seen for months. What caused the rally today? Well, considering Gme didn't go up in short squeezers today were largely quiet. I would say that Amc apes got riled up because of this news.

Emcee attended Surpash 2019 levels for the first time during the pandemic thanks to Marvel's Shang Chai. Who knows. But the point is, this was the highest number of admissions for a Labor Day weekend in Amc's history. Why was it so strong? Well, probably because Disney didn't screw over the feeders by releasing it on streaming at the same time with Black Widow, for example, they launched it on Disney Plus first pissed off some of the main people in the movie and basically disincentivized people to even go into the theaters for it.

With the Shang of Chi, they launched it. first in the theaters. So basically this is the result of studio saying, hey, okay movie theaters, you can have this. You can have a win here.

In my view, a big challenge to movie theaters right now is the fact that there's not that many good Hollywood movies coming out. They've been delaying a lot of the good ones and most of the main ones are also coming out on streaming. If studios start bringing really good movies out to the table and they make it so that it has to solely release in the theaters, then that creates a much stronger incentive for people to go back into the theaters. and we've seen the results of that this weekend.

Despite the Delta variant, a lot of people have been projecting that large studios are just going to cut out feeders completely and just go straight to streaming. But we have seen a little bit more mudding of the certainty on that to the extent that even Netflix is considering theatrical releases for some of their higher flying movies, which analysts say is an attempt to make a bigger cultural impact. I've certainly watched my fair share of movie releases on Netflix and Hulu and whatnot, and to me it kind of seems like the hype is similar to like a glorified youtube video. Not that I'm trying to downplay youtube videos because there's some great people on there, especially the ones with suits and pens they never write with.

But the point is, it's hard to have the same cultural and traditional impact as you would with a Bells and Whistle theatrical release. And that's just a fact. And with streaming providers even considering their own theatrical releases, that could certainly drive demand long into the future. But the ball really is in the studio's court right now.

They can make or break the entire theater industry. That said, of course, Amc doesn't trade on the fundamentals of the company, but I do like anything that disputes the short seller narrative. So yesterday I asked you to do some homework and diligence on Mac and explain why it's a short squeeze candidate despite having a relatively low short interest at only like nine percent according to Ortex estimates. Well, this is a very tricky one, and I was kind of a sly puppy for giving it to you.

But number One you see earlier this summer, Mmat merged with Trch, and you see, Trch was one of the most heavily shorted stocks in the market, with estimates of short interest at the time being shown in purple, and it also had a ton of failures to deliver shown in yellow, But the structure of the merger led to a lot of interesting data clashes, but essentially bigger picture. The idea is that the short interest on math can be extremely misleading because the way that the data is being reported, it makes you think there's only like nine or ten percent of the shares sold short. But the thing is that the free float may be a lot smaller than we actually think. reporting standards haven't really acknowledged the large amount of institutional money that holds positions, as well as the insiders that hold positions, much of which is effectively locked up post-merger Let me explain for a second: if the total float on Mmat is reported to be say 237 million, but only a quarter of that is actively being traded, well then that 10 percent short interest isn't really 10 short interest.

because the 10 of the entire pie, if the pie is much smaller, it becomes a much higher percentage. If say, only a quarter of that is actively traded. that could be a 40 short interest right now. In reality, it's probably not 40, it's probably closer to 20 percent.

But the point is that based on the public data we have, and based on the data that we lack, which is substantial, there's a big gray question as to what the actual short interest is on this, and that ties into the second reason, which is, hey, these shorts on Trch have to cover eventually and they have to fulfill their failures to deliver. And it's also true that outside of all of that as a short squeeze candidate, well, and that is also an interesting fundamental plan. Could perhaps in a couple of years be a growth company. But anyways, I hope you like the homework play.

That's my view on it. Let me know what you think or if you came to a different conclusion below. Anyways, folks that caps off the video. if you have any questions, feel free to reach out to us below or join us on Ziptrader Circle if you'd like to learn how to trade.

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Anyways, have a great one and I'll see you in the next video.