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Payne predicts market short squeeze mania - YouTube
Channel: Fox Business
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folks major breaking news here uh two of
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the apes favorite stocks are absolutely
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on fire just had a great conversation
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with katie stockton about technicals the
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50-day moving average game stop up 22
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piercing its 50-day moving average
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picking up momentum right now amc up 16
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right at its 50-day moving average a
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continued move from here certainly could
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mean a lot more momentum wow two big big
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moves you know what i gotta tell you it
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fits perfectly with it's been a great
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day for best buy and this is a
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cautionary tale but everyone i want you
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to listen to this because it crushed
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wall street consensus they reported they
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offered more robust guidance than anyone
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expected this company by the way
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continues to confound the experts and i
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think it is a great example that
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so-called smart money well let's just
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face it they don't know everything right
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remember when everyone said that this
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company was only a showroom it was
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doomed it was going to go out of
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business i want you to check out this
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article from reuters it's january 20th
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2014 headline insight short set to
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pounce as stock scene pricey fed pulls
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back well jim channels president and
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founder of
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of his own firm one of the most
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prominent shorts out there said that the
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market is primed for people like him he
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added that now i think it's not a bad
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time to be raising capital for what we
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do uh and when critics view me like the
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village idiot and not an evil genius the
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article went on to mention best as a
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potential short best buy company shares
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suffered their worst day in 11 years on
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thursday falling almost 30 percent after
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disappointing sales undermined the
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bullet's thesis that helped the stock
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triple in 2013 and it fell further on
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friday well guess what since then that
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stock is up more than 400 percent
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remember in january this year the world
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learned of the power and growing
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sophistication of a new breed of
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individual investors using resources
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that were only available to the industry
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they've learned to educate themselves
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and they've learned to articulate what
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they've learned with others they have
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flipped the script on the hedge funds
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and well
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remember the hedge funds they were
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always able just to beat stocks that
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were abandoned to smithereens there was
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never any opposition i happen to be
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writing shotgun when all of this is
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going on in fact i didn't even know the
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power or the smarts that were evolving
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on the reddit platform and other
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platforms i just happened to have been
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involved in short squeezes on and off
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for the past 30 years and it was clear
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to me that the shorts were being hit by
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a brand new more powerful force i had a
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number of high-risk positions in my own
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portfolio they did extraordinarily well
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i shared ideas from my paid subscribers
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many of those weren't parabolic now now
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here's the deal folks short squeeze
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squeezes go way back
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uh and just as far as shorting goes back
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one of the most famous was in 1923
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piggly wiggly
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and i think by the way this serves as a
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cautionary tell on how the system always
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takes aside of institutions their
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founder a guy named clarence saunders he
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took the company public and then the
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shorts pounced right well this guy he
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was he was a fighter right he fought
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back he elicited fame trader jesse
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livermore
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and guess what it was the ultimate short
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squeeze a stock rocketed higher but then
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livermore moved on and the nyse changed
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the rules to save the shorts that's
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right some things never change now
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lately heavily shorted stocks have sort
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of drifted a little bit lower especially
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some of these retail investor names as
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you can see by today's action and amc
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and gamestop that's starting to change
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short interest for certain names uh
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they've begun to hit edge a little bit
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higher by the way if you want these
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short positions to go higher because you
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want someone to squeeze uh and then the
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more compelling short names are really
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starting to do pretty well i've got two
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names on my radar i want to share with
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you big five sporting goods and blink
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the eevee battery play i think they're
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both the most intriguing heavily shorter
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players right now that aren't
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necessarily being played by the apes by
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the way congratulations the lessons from
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best buy is that companies do learn how
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to adapt they learn how to stay alive
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and then they learn how to thrive now of
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course nothing is guaranteed and these
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sort of ideas do carry a higher degree
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of risk by the same token i've said it
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before i'll say it again the so-called
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smart money what they do is not
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guaranteed to always be right either so
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what what i'm reminded and what really
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inspires me with the investing apes is
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that you guys have taken control of your
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lives you want to change your life so i
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say you know what find your own way
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chart a new path break the unfair rules
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live and learn but never never give up
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on the stock market
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