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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.