The Dash For Trash Is Back, Meme Stocks Jump - GME AMC - video Dailymotion

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00:00 Now we were talking about it being the top stocks

00:02 that were moving the market up.

00:04 But as we continue higher,

00:06 that's where we should see market breadth

00:08 kind of get better, right?

00:10 And see the kind of different stocks maybe make the move.

00:14 Even like we're seeing today, right?

00:16 And yesterday, the dash for trash is even coming in Dennis.

00:20 And that leads to that conversation, right?

00:22 GME, what a monster rip.

00:25 Man, I'm not gonna play Dennis.

00:26 When I saw this rip on GME, I was like,

00:29 man, should I just go scalping AMC off of this?

00:33 'Cause I know how the algos are gonna be

00:35 and the retail traders are gonna be there.

00:37 Like GME is moving, oh, I'll get AMC.

00:40 And it was funny 'cause someone came in our chat, Dennis,

00:42 and was like, "Roaring Kitty is moving GME today."

00:46 And I was like-

00:47 - Is he doing his show again?

00:48 Question to the chat.

00:49 Like I don't follow Roaring Kitty

00:51 and I don't follow any kitties,

00:53 but I don't follow the roaring ones here either.

00:56 I know he's the one that started this whole GME rally

00:58 back three years ago.

01:00 He started this whole thing with his YouTube channel.

01:02 Is he out there pumping this again?

01:03 I don't know.

01:04 Is that why it moved yesterday, GME?

01:06 - That's what the word is on the street.

01:08 You guys in the chat probably know

01:09 a little bit more about this.

01:10 Let us know if you guys are catching on there.

01:11 - I tried to look for him on Twitter.

01:13 I don't think he's on Twitter.

01:14 So is it, yeah, he, yeah.

01:17 'Cause Roaring Kitty.

01:18 - We had the meme ETF also out there, right?

01:22 And this actually getting some movement lately.

01:25 What do you hear about the meme ETF?

01:27 - Well, I'm hearing,

01:28 so I had a Reuters reporter call me yesterday.

01:31 I did not know this,

01:32 but apparently Roundhill MME is shutting down.

01:35 And I gave commentary to that and saying,

01:38 these stocks have just been killed.

01:39 A lot of retail investors have been killed

01:41 and they're not coming back.

01:42 They're coming back for a day or two though.

01:44 I mean, they can get these pops.

01:46 So I guess maybe call this a turnaround here

01:49 off the meme delisting

01:51 'cause they're getting rid of this ETF.

01:53 On the same day that they announced

01:54 they're getting rid of this,

01:55 all these meme stocks start to take off.

01:57 But I mean, we've got to respect,

01:59 if the Roaring Kitty is back,

02:01 it can give a little bit of oomph to this.

02:02 It's a huge move for GME and AMC does follow.

02:05 It's not getting much of a move here yet,

02:07 but I wouldn't want to be short these things right now.

02:09 So I'd be careful if you're short any

02:11 of these meme stocks here right now,

02:13 'cause they do follow each other,

02:15 but it seems like they get a day or two

02:17 and then they just start leaking again.

02:19 So it's hard to just get on the bandwagon and say,

02:21 yeah, this is the meme stock rally.

02:23 We're going from 15 to 30 here

02:25 and we're going to blast off to 50 and 100 and 200.

02:27 We're all going to get our money back.

02:28 I don't think that is happening.

02:30 I think you get a couple of days where these move,

02:32 but if the Roaring Kitty is indeed back,

02:34 that can move the stock.

02:35 - Yeah, this is why I say at some point,

02:38 and we talk about this all the time,

02:40 at some point stocks that are easy to short,

02:43 like you think it's a nice, easy, short story,

02:45 these are the dangers in those stories, right?

02:48 Like shorting GME at 13 or even 14,

02:52 how much more do you have in return?

02:54 Maybe the stock goes to zero.

02:55 You have that full 13, but this-

02:57 - They have violent moves up.

02:59 - Violent moves up, right?

03:01 - Yeah.

03:01 They leak.

03:02 So the way these stocks seem to trade is they despise,

03:05 this slow, steady death by a thousand cuts.

03:07 But then they have these violent rallies in here.

03:09 And these violent rallies, what they do is two things.

03:12 They shake out the shorts and they sucker in more longs.

03:15 And I mean, here, you're getting the same type of a thing.

03:18 Now, I don't know, like again,

03:20 I'm not shorting this thing.

03:21 I'm scared to short GME.

03:23 I don't think I've shorted GME in a long time.

03:25 I just get scared to short these stocks.

03:27 And I was actually looking last night on IBKR.

03:29 I can't even get a locate on this.

03:30 So maybe that's the issue,

03:32 that maybe the borrow is tough on this

03:33 because I couldn't even get a locate

03:35 on this GME here last night.

03:37 So in some cases, some of these stocks

03:39 are becoming hard to borrow again here too.

03:42 But there is some life here in some of these stocks,

03:44 at least for a day.

03:45 GME pop and AMC was showing a little bit of life yesterday

03:48 and a little bit of life this morning.

The Dash For Trash Is Back, Meme Stocks Jump - GME AMC

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