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Tuesday, June 21, 2022

Market Update 6/21/22 - What Is #FinTwit? Exposing The Scam Of The Century

In case you missed it: 

Yesterday, I wrapped up Part 3 in our series on capitulation. 2. Confirmed our target on Bitcoin. 3. Began to expose the FinTwit community for what it truly is, a network packed with scammers, bots, and sharks. Elon Musk Knows this, and we'll be getting into that subject in a subsequent blog.     

Today, I'm going to begin by offering up some pretty convincing evidence, that Twitter is a scam network, and because I have so much material to work with, this new series could go on for some time. 

Last week, we saw stocks washout below key support, yet stocks remained pinned in the bottom of the range, on June OPEX, ahead of yet another (trading) holiday weekend. Markets were closed on Monday, so we could all be forced to observe what could be called, "white guilt day" - otherwise known as "Juneteenth". It's not enough we have to solute the rainbow flag all month, but now this?!  

Of course this is just another attempt to try to equate ones race, with someone's sexual orientation (a term you don't hear anymore, because it doesn't fit the official narrative), in order to call ones sexuality "a civil rights issue", but this is nothing more than Orwellian style, brainwashing, for the masses. 

Why not just cancel Columbus Day, and Christmas while you're at it, and we'll substitute 2 more woke holidays, just to satisfy 2% of the populations beliefs, and pander to so called minority voters, who actually should be offended by such pandering.   

I have no problem with black people, or gay people, but these pushy liberals, who get a sick thrill out of playing politics with peoples lives, and livelihood (freedom), can go straight to hell, but I digress!  

What really ticks me off, is that with all the technology we have at our finger tips it's hard to find a good calendar app! Yahoo financial calendar doesn't even mention "Junteenth"!  I mean, I knew the date was coming up, but I did not know that Biden actually signed it into law, and that Wall Street participants will from this day forward, be forced to genuflect at the alter of political correctness!

 It's not even a gd holiday in most states, and even after I found out that the market would be close, I could find little to no information about how this would affect me locally. "Would the garbage be collected as usual on Monday, or would I have to wait until Tuesday, to put the cans out", I wondered.   

Here's the real reason I'm upset over this Junteenth holiday 

 I actually use the calendar to help me time the market; I specifically look for long holiday weekends, because so often, this is where we find market turning points, and especially when OPEX dates coincide with a 3 day (market holidays), so this fake holiday weekend caught me a little off guard. 

Anyhow, better late than never, and the bullish reversal seems to be confirmed, right on schedule! 1 day after another rigged Options Expiration! How many in a row, is that now? 

What Is #FinTwit?  Exposing The Scam Of The Century  

My initial take on the fintwit community was that it was full of useful idiots, who can only be used as contrarian indicators, but I'm starting to believe that very few of these twitter accounts are real. They're bots (fake accounts) propagating false information, in order to suck in a few gullible retail investors.

Of course there are a few real investors who get caught up in the hype. These people call themselves "apes"   The phrase “apes together strong” originally comes from the movie “Rise of the Planet Apes,” but has since become popular stock trading slang? I got this information, from a not so credible source, so I'm not going to give any credit....  This phrase apparently started on Reddit financial boards, yet I could find no evidence to support that assertion. I wasn't even able to find a trading community on Reddit, the last time I looked. 

I can't help think back to the final FAANG (Tech), and meme stocks pump last year, not to mention, Crypto, Gold, and most recently Energy and Oil. Pump and dump markets have become the new norm, but this is nothing new, as I'll explain....   

 Of course it's easy to employ an army of bots to trend whatever you like on the internet, and we know trends often go to the highest bidder. Who's to say the hedgefunds aren't paying Twitter to trend certain financials topics, in order to create a new generation of suckers?   

This type of swindling of investors has been going on, since before the internet even existed. See the movie Boiler Room! This film depicts a shady brokerage house, who sells bogus stocks to unsuspecting investors. Who do you think buys all those worthless IPOs..? 

 In the early days of the internet, all we had was yahoo financial boards, and it would infuriated me to see investors constantly bamboozled, and today history repeats itself with a whole new generation of "investors", who follow like lemmings off the cliff.   

$AMC - "320 tweets in the past hour" 

Gains today -.88% on an otherwise big risk on day 

Sharks In The Water    

If you're a regular on Twitter, as I am, then I'm sure you've seen the continued interest in meme stock $AMC....  Is this really what people are interested in trading, and is there any proof that any of these so called "meme stocks", originated on Reddit boards. I have found little real interest by real traders, in this name, yet $AMC continues to trend.   

The vast majority of traders I see on Twitter, seem to have no interest in trades that are working, while the most ridiculous charts I've ever seen, including the one below, continue to get 200 likes?! Are we supposed to believe that this is what the majority of investors are really interested in? I don't buy it! 

Sharks In The Water 

 If you follow my twitter feed closely, then you probably saw me call out these scammers, first thing Friday morning: 

1. Firstly the comparison trying to be made between 2008, and today, are not even remotely relevant! 

2. Only to the untrained eye, does the 2007-08 crash begin with a triangle pattern. 

And don't just believe what I'm saying; explore this thread, and compare these chart patterns for yourself, and make up your own mind!  

But wait there's more! 

Crypto Crash  continues to trend on twitter, and "always proud Bloomberg News", even continued to try to talk it down over the weekend; as they were seen reporting that Bitcoin was "having trouble, holding $20k". I'm not sure what having trouble means, but why not report that the DOW is having trouble holding 30k? Remember in the last update I documented that former Secretary of State Hillary Clinton compared Bitcoin investors to terrorists?  

Yeah, well, and here she is spewing her propaganda on none other than Bloomberg. 

I have plenty more to share in the next update, so be sure to subscribe to this channel. 

Take Care, AA 

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