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Trey's Trades on AMC market value, naked short selling - YouTube
Channel: Fox Business
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[Applause]
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well it's another quiet session for many
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of the so-called reddit investor
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favorite stocks
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which is not always a great thing for
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those names uh they thrive on a lot of
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excitement now against this backdrop
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we've seen amc's share price and volume
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uh just
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sort of slowly uh go down right in the
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meantime though
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as this was happening the shorts have
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climbed
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higher now we're talking about almost
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nineteen percent of the float from less
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than fourteen percent
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the shorts are definitely reloading
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joining me now to discuss
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host of trades trades on youtube trey
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collins trade
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uh what's going on with amc this week i
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mean are you concerned the volume is
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drying up a little bit
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it's pulling back a little bit uh what
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do you think
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well charles first off uh it's great to
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be back i gotta say i respect you more
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than you probably know
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uh amc right what i'd call this period
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right now is volume exhaustion and
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consolidation right so the amount of
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liquidity
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and volume that was going to amc in that
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short period of time those couple of
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weeks
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you essentially have to cool off from
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that i mean you receive between two and
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four billion dollars
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of inflow on any given day so this kind
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of fluff
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in the middle between what i would you
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know consider the next rip to be is
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that base foundation it's a
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consolidation that allows the next big
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move to happen
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this is a technical trade this is still
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very technical i mean it's giving back
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about 38 percent
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from this 14 rip up to 77 which is
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healthy so i'm absolutely fine with this
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consolidation period it's boring
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but it doesn't scare me the least bit is
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is there is is there a support point i
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love charts i love technical analysis
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is there is a support point though that
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you wanted to hold
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and then turn around from yes charles so
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the whole you know technical trade
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behind this is the
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higher low stair stepping effect right
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we're kind of in a dependent formation
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right now and in that sort of penny
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formation you could argue that
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currently you know that that 50 to 52
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zone i always give a zone because you
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can't you know time it down to a penny i
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mean it's an art not a science right
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um that zone to me is going to be
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critical because that's where you've
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seen you know that next
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low just based on this overall trend of
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higher lows overall right as long as it
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continues to stairs
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higher lows it's in very bullish
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territory
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trey what do you make of the shorts
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reloading uh the short uh you point this
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out on your twitter feed
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uh looks like they're ready to go for
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another round here
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[Laughter]
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charles it's it's very interesting i
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think the hardest thing to master in the
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stock market
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is emotions right and emotions are hard
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because even the top level guys the
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suits you know they have emotions too
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so high frequency trading algorithmic
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trading computer trading
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is built off of a model of reading human
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psychology on the charts and making
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decisions buys and sells based on that
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well amc and other heavily assured
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stocks that the apes have gravitated
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towards you know gamestop amc
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uh these are not you know bull and bear
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stocks these are ape stocks these are
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stocks that people are buying and
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holding
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because they're not satisfied with what
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the market is offering for this stock
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right now you can't read that
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with a computer so these these big firms
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and suits i would imagine are confused
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and are
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playing a little bit of a pride ego play
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right now thinking that they can beat
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the apes and i don't think that's the
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case
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all right so and and there's one big big
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suit out there
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jeremy grantham uh huge billionaire
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market historian he's saying that this
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movement is quote the biggest u.s
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fantasy trip of
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all time we obviously know there's
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nothing like this has ever happened
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before but
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uh what do you say to someone who says
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that like you know right now it's
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detached from reality
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uh you know you can't argue the
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fundamentals at this particular point
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uh you know and and the big suits that
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you're talking about trey say
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at some point it's all going to slip
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away even if it's just from attrition
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you know charles i think uh you you put
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it very well it's a little bit out of
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touch they're not quite
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grasping what the concept is here so
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true technically speaking
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there are you know pieces of this are
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going to slow down volume exhaustion you
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get consolidation periods stocks don't
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just go up forever right
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but the entire thing with amc is not
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purely
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about the price it's about what it
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stands for right people are making this
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trade
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to make money yes but also to speak up
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against naked short sailing failure to
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delivers
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dark pool and off exchange transactions
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right that's not going away
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so unless the problems get solved the
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apes are not going to be quiet that's
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just as simple as it gets
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yeah yeah and that's why i salute the
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apes because you know what
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you're taking a bolt stand they say you
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can't fight city hall try fighting wall
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street hedge funds it's a million times
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harder and you guys are trying
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uh trey thank you very much appreciate
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it thank you charles
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