20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Matt Kohrs, a popular YouTube streamer, appeared Monday on Benzinga's YouTube show "Power Hour" to discuss the rise in popularity of AMC Entertainment Holdings Inc (NYSE:AMC) and GameStop Corp (NYSE:GME) among retail traders.
How Did We Get Here: Kohrs has been trading for about eight years, but he didn't start his YouTube career until he needed a creative outlet in March 2020 when the COVID-19 pandemic began.
He began by teaching algorithmic trading, but after struggling to find successful methods of presenting information, he transitioned into technical trading around recent news, Kohrs said.
He began live streaming as a result of the uncontrollable excitement he felt when GameStop began pushing higher in January 2021. At that time, he became interested in AMC Entertainment.
Watch the full interview in the video below:
AMC, GameStop And The Apes: Every single week it feels like the "ape" community is gaining more traction, Kohrs told Benzinga.
Apes are investors who are "diamond-handing" AMC Entertainment and GameStop, he noted.
"Diamond hands" is a term used to refer to people who adamantly buy and hold stocks, often through extreme volatility.
The apes are fighting for increased fairness and transparency on Wall Street, Kohrs told Benzinga. Naked shorting, in particular, is something he wants to see addressed.
The community surrounding AMC Entertainment goes way beyond Reddit, Kohrs said, adding that the community spans Facebook, YouTube and other social media platforms.
See Also: How Matt Kohrs And The Apes Level The Investing Playing Field
There are millions of retail investors interested in the stock, but there are also hundreds of thousands of "legitimate apes who - no matter what happens - are going to keep diamond-handing" AMC Entertainment, he emphasized.
Kohrs pointed to a correlation between the growth of the community and the increase of AMC Entertainment's share price.
He told Benzinga he never imagined being a streamer covering stocks. He paralleled the unpredictable nature of life with that of stocks like AMC Entertainment and GameStop.
Every day is a new story, Kohrs said, adding that he never knows what to expect, which keeps things exciting.
Price Action: AMC Entertainment was up 18.30% at $56.65 and GameStop was up 10.60% at $274.83 at last check Monday.
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!