Okay folks, so we've got a lot to talk about. Number One: I need to give a violent update on plays, including Atra, which is detonated again and is looking like a juicy mick. Juicy, what's going on and what's next for it? Number Two: I want to talk about what the Fed just said and what that means for you and your moolah. And then lastly, Number Three, I want to discuss why this Amc situation is getting very, very wild.

You see, Amc short interest is getting into breakout levels. We need to talk about what that means and what happens next. And the only thing that I ask in return for all this is that you hit that ravishing like button and also don't forget to subscribe either. Okay, let's go ahead and start with Atra.

Now, Atra has continued to bring in buyers. This is an increasingly amusing play, because like we were saying yesterday, borrow costs are a lot more expensive now than they were during the last uptrend because shorts piled on during this down cycle expecting a quick buck, got way too overconfident and now they're getting their bluffs cold. Too bad, so sad. My latest thoughts as of this morning in the pre-market were Atra continues another day of attempting to squeeze shorts.

with borrow costs for shorts going through the roof, this is likely to get real nasty real quickly if buying pressure keeps coming in. And today, let's just say that it indeed got disgustingly nasty. So disgusting that I hope that after goes and takes a damn shower. But analytically speaking, the short sellers on Azure tend to be a lot more paper handy than short sellers elsewhere.

During some of the previous rallies, we've seen a lot of the weaker shorts rush for the exit and of course, covering induces buying pressure, which then goes and puts more pressure on other shorts. and we've seen some of that short seller paper handling this time as well, with estimated short interest going down a bit. But still keep in mind that the majority of short sellers in this are holding their conviction and with Actress Price now threatening to break into new highs while Cost of Borrows is looking similar to the lineup at Louis Vuitton, the higher the cost to borrow, the more expensive it is for them to hold their deep red positions, the harder it is to increase them and the more desperate they get if it doesn't go down. And what can I say, momentum attracts more momentum and you're getting into the situation where bulls know that and they're more incentivized than ever to continue buying.

Remember what happened last time after broke previous resistance? Yes, indeed. it took some time to break past previous hyped up highs at 10, but once it did, it went on to double. This time around, short sellers are a lot more desperate and I'd argue that a lot of the paper handing class of shorts that first category in terms of short sellers hasn't really covered yet. You only saw a little bit of short covering towards the end of today.

You compare the short interest reduction at the end of today to the short interest reduction in this last period and it becomes pretty obvious that hey, there's a lot more paper handers here that need to go and cover. So my predictions? Well, I'd say that there's a solid chance that this breaks out past those previous resistance levels and sees more and more momentum pile on. Best case scenario: Thursday, Friday or Monday is when we want that to happen, when it's fresh and the momentum is here. If it doesn't happen in that delays, I'd say the more likely result is that it attempts a breakout from another down cycle, Which is to say, it sells off massively.

First, when you're dealing with short squeezed candidates, It doesn't really make sense to have one viewpoint on what can happen, because you can't predict exactly when buyers are going to be coming in and when sellers are going to be accelerating their short position. so you have to be prepared for both outcomes. Okay, next, the fire of the Sow or as I call it, Sofi. Yesterday we made a video talking about how Sofi has a lot of potential Upside because of their upcoming bank charter catalyst as well as the numbers that they're doing in terms of membership growth.

And all of a sudden, we're getting this huge slew of positive press coverage of Sofi everywhere. And so far share price went parabolic today. And the catalyst for all this coverage today seems largely driven by Jeffrey's analysts who said something similar to what we said yesterday. Actually, member growth is the key to Sofi strategy, and the firm currently expects more than 46 average revenue growth through 2025..

right on the money. We're talking yesterday about how yes, Fintech is dramatically overcrowded, but the member growth specifically makes Sofi stand out above the rest. Jeffrey's even talked about something else that we said, which is they went into the business model of cross-selling the company's wide range of products in every industry, and again, that goes back to member growth because the more members you have, the more people you're able to cross-sell the more leads you have for each of your products. Once you lock in members, you start getting a self-building ecosystem.

Super super excited to see Far's positive coverage today. But keep in mind after this wave of positive press coverage ends, the big actual win for Sofi is what well, the bank charter catalyst, And whether that comes in the form of the acquisition approval or them going that traditional route, well, that's going to be the big catalyst at the end of the day, whenever that happens. Okay, let's talk fed three main points: He said number one: that bottlenecks in the supply chain are likely to be longer lasting than originally expected, but he says that as they abate, inflation will abate as well. More of the transitory talk.

He says that despite some of the recent pricing pressures, that we're likely to see it go back down towards hitting their long-term goals. Number two: in terms of economic forecast, the committee at the Fed sees Gdp rising just point nine percent this year, compared with a seven percent forecast in June. Number three: Tapering is likely to come soon, but interest rates will be held the same, presumably until early 2023, or at the worst, maybe late 2022, according to some people on the Fomc committee. Overall, certainly nothing too surprising in the market Pretty much brushed off this conference.

Okay, oogabooga. Amc. So Amc has been attempting to break out its strong downward channel, a channel that was likely caused not just by institutional longs cashing out ones that had just bought in, riling up momentum traders in the early stage of the growth rally that we saw a couple weeks ago, but also the selloff was caused by the accelerating of short positions. Which brings us back to the Amc short interest chart.

Why is short interest picking up right now? When it rains? it pours, and short sellers know that the faster the down trend is, the more it's likely to pour and the more money they can make Off the downside: it's similar to lungs going in, adding to their position. When it's rallying up massively, They know that people are buying it because it's going up, which is amplifying it even more and causing it to go up even more. so they add to their position, trying to make more and more money as it goes up. This is the similar situation when it comes down to short sellers, and now we're in the situation where Ortex is reporting short interest at near all-time highs.

And how do they come to these conclusions? Well, it's based on the public information that we have. However, Benzinger reports that about 60 percent of volume on Amc stock for the last 30 days has been traded via Dark Pulse, which is a lower estimate than we've seen throughout most of the year, by the way. But if you consider that more than half of the volume on Amc isn't showing up in the public data, that means that we're only seeing what they want us to see and the public data is only a small sample size of the overall pot. If the short interest in the sample is increasing, I'd expect the bigger picture to look a lot more drastic.

If you didn't want the public to see the full scale of your massive short attacks, you'd probably want to bias the data and put more of your short bearish positions in dark pools. That way you can control how that date is reported and whether it's reported. In some cases, short sellers know that the more that people see heightened short interest, the more they get riled up to buy. So it's not in their best interest to have that data show up all at once.

So overall, when you're looking at this picture, it's probably true that there's a lot more ammo being used in terms of bearish positions on this than meets the eye. But regardless, right now, we're at breakout levels of estimated short interest. Hedge funds are feeling more empowered than ever to accelerate this downside, and once again, they're met with some support. This battleground is getting real interesting again.

folks. in terms of my thoughts on Amc accepting Dogecoin. Quite frankly, I think that it's awesome that Amc has a Ceo that is willing to hear out retail traders their interests, what they want to see in the company and then implement that. Do I think that Amc accepting crypto as payment means that Amc is now this innovative business model? Obviously not.

I'm not going to go there, but still, it's great to see a Ceo actually valuing retail traders. Hopefully that sentiment gets represented by many other Ceos as well. Because face it, retail traders in mass are the ones that are actually the customers for many of these companies. so they have very, very valuable input and not listening to them is a very, very big missed opportunity.

Lastly, I want to talk about one thing that's really, really disappointing to me, but not surprising. Jim Cramer of Cnbc said this yesterday. He said, here's what happens to the quote apes. They have nothing in their empty lives except watching me and tweeting about me they need narcan but before they are blown out which is what is happening, I like to give them a little joshin soon they will be gone.

I was extremely disappointed by this coverage because not only was it extremely unprofessional, but I used to watch him when I was a kid and when I watched him, I didn't realize the massive amount of insecurity that he has. This man needs help. This is a guy that literally was quoted as saying a lot of times when I was short at my hedge fund meaning I needed a stock down. I would create a level of activity beforehand that could drive the futures.

It's a fun game and it's a lucrative game. This is the guy that's now complaining that people are coming together on Reddit forms and Dewey due diligence and then making their own individual decision to buy a movie theater stock. So it's fine for hedge funds to play the game. but the minute that retail starts, it's disgusting and pathetic and needs to be stopped.

You played the hedge fund game. That means you have an empty life and need drugs and only watch Jim Cramer at the end of the day. A lot of these media types are making the calculation that they can say whatever they want to the retail base, but they're starting not to realize that the retail base. is what their audience is.

They are talking not to Wall Street, they're talking to the retail base. And when you insult and you insult and you insult and you disregard and you disregard and you disregard what happens, well, eventually you lose that retail base. The fact of the matter is that retail participation in the market isn't going away. Retail coming together to do due diligence and spread awareness for companies and setups isn't going away either.

It's actually getting more and more prevalent. And while the biggest boom of this has come in the last two years, this has been a trend that has been taking place over decades and retail is becoming a driving force everywhere, not just with Amc. Anyways, rant over 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.

With our step-by-step lessons, our private chat, and of course our daily morning briefings where we brief on all the latest catalysts each and every market open morning. Well, I'll go ahead and put a link to Zip, trader you below and coupon code footstopper50 will get you 50 bucks off before checkout. and if you're wondering what broker to trade these dogs on, we do send new traders over to Weeble and we'll give you two free stocks when you sign up and deposit just five dollars using our link below. Anyways, have a good one and I'll see you in the next video.