Ep 187: The Former Market Maker Returns - and Weighs in on the $GME Debacle

[@anand3188]

As the interrupting guy is not present here, I'm going to listen this podcast fully

[@GleezoVision]

Funny as hell lol

[@kvn024]

I did too

[@maxly7997]

Kim is pretty annoying too. They all need lessons on interviewing.

[@tonypecus334]

couldn't agree more. Dude was annoying

[@kepollitt21]

@@maxly7997 it’s there pod cast 😂😂

[@TheRaviHirani]

Another amazing episode. Crazy how much you got out of JJ seeing that Tim wasn't there interrupting lol

[@knowledge2035]

😆

[@andybaubau5961]

that guy is useless, talk only bullshits interrupting, as a ungrown child

[@dustingedney11]

Pretty obvious Tim knows more about trading than the other two, thought he was fine. Great podcast amazing interview. JJ a fn savage.

[@willbobig]

FOR REAL

[@anand3188]

Well said

[@Hakka佬]

I love how he’s whispering to make it sound secretive

[@jeffb72083]

This should be required listening for anyone who trades for a living.

[@mcevensbien-aime4558]

Indeed! Everyone should know about it before even starting to trade

[@AH-my7kj]

Makes a great podcast when you don't have someone interrupting your guest! Thank you for improving this round

[@2cardarsenal310]

We know BlackRock and Vanguard own AMC! However Retail owns the float. I would love to hear what JJ has to say about what is going on with AMC right now? Banks are backing out daily from loaning any money with the HF shorting AMC and others.

[@churlish7851]

Agreed

[@charlesjurden5871]

Ape Nation stand up.

[@Rhino-ux7yf]

Retail owns 80%

[@2cardarsenal310]

@@Rhino-ux7yf 80% of actual real shares, that does not count all of the Synthetics that are out there so I'm calculating we own the float and more. :)

[@corail53]

Blackrock and Vanguard are neutral to all of this - they buy and sell with no care what so ever to what the stock price is because they manage massive passive funds and etf's. They will sell/buy when one the stocks gets over or under weighted as they need to remain delta neutral. Blackrock also own shares in almost every company on the exchanges and they horde them - creates liquidity issues sometimes. Citadel the MM owns amc shares for lending and Citadel the hedge fund is also long on AMC. What the banks are doing is basic risk management because they don't want to end up like credit suisse when and if this blows up. They are also partially to blame for all of this because the feds have made loan rates super cheap for so long that every fund and bank are way over leveraged. This is not a good thing for retail as it will mean the government will most likely mandate more restrictions against retail traders in order to "protect" them from all of this and I would not be surprised to options being closed off or severely restricted in the future.

[@derekrighter951]

Newbie (1 year) listened to the 1st was great... 2nd even better THANK YOU ALL..... REALLY GREAT!!!!!!!!!!!!!!!!!

[@slawomirszpak4920]

JJ could you give us info about your trading room? I would love to join and learn from you with your guidance 🙏🏻

[@MisterStarQuality]

Facts did you get this info?

[@light8trades]

Once again, I'll have to listen to this more than a few times. Thank you everyone a Steady Trade, you guys ROCK!

[@aubrey.trades]

Can't believe these videos aren't bigger. Eye opening, mind blowing shit right here. The value you all are providing is unparalleled 🤯

[@motox55132]

It will probably get deleted for “violation” of KZbin terms if it got a lot of views.

[@malayali-appreciator-69]

Most of the "Apes" don't actually know what a market maker is. So they're not looking. Sad. Best we can do is share it.

[@joshwettlin6670]

You have made me see the market in a whole different light. Amazing amazing.

[@kristapowell8732]

Thank you JJ for providing so much invaluable information on the Internal workings of the market. We would never know these things w/o you. Thank you Kim & Stephen for asking such great questions for us. Love this podcast!

[@Think_Dig_Find]

We need an animated version with characters ilustrating these market maker tricks n techniques

[@williamfoster7920]

Great to actually hear JJ without buttinsky Tim interrupting all the time.... Great podcast guys .... Thank you.

[@Stockstotrade]

💯🔥

[@johnbowness1856]

Podcasts, KZbin... JJ is the man and I've listened to this cast 100 times over. Learning something new each time! Thank you JJ. More plz

[@coachken6130]

I like the addition of audience questions for the guest. You should do more of that. More people means more and different perspectives👍🏾

[@yaman223]

That's why I went all in on AMC.

[@troyhoneck520]

Same, HODL!!!

[@NoName-py5xs]

and thats most retarded decision, to go all in, i dont care if u make money, u are gambling, ure not trading

[@yaman223]

@@NoName-py5xs Weakest comment I've seen all week. 🖕🏽

[@aaronschell1592]

Great interview, always always let guest finish explaining their thoughts. Also ask for definitions of their terminology ie “pulling the bids” don’t assume your guest know the terminology. Your podcast is all about your listeners understanding. Thank you

[@NopeNope78]

If they would do that for every "term" it wouldnt end... Just note them down (the ones you dont know about) and do your own research after

[@RyanTradesFutures]

Kim, would you be able to ask JJ for book recommendations or resources to learn more about the business and how market makers work? Also, JJ, how do you use the TPO chart? Would you be able to do a video about that?

[@shahn78]

He mentions a few in the first interview on this channel

[@prodbynixc]

Reminiscences of a stock operator!

[@RyanTradesFutures]

@@prodbynixc Thanks, already read that one

[@FAHRENHEIT-gj4ng]

Once you understand the Motto from Ep. 179 That Wall Street deos not buy, you'll understand how retail investors flipped the entire table over by refusing to play the next round and sell back the liquidity. Eventually, because of the required MM shorting to provide liquidity, that is granted from a larger "Source" combined with retail refusing to sell back cheaper if at all (increase of demand) turns Wall st into forced buyers of what they issued when this large funding "source" calls back their assets and debts from MM built up interests

[@JS-kb7ml]

J.J. back with another fire podcast 🔥 Thanks Tim and the SteadyTrade team for this..

[@mbz205]

Been binge watching jj’s interview

[@andysalo2081]

Fascinating, i might have to watch this episode 5 times to comprehend it all, much appreciated knowledge, thanks much!

[@petemolnar6073]

Stuff they don’t talk about in books or class. Thanks for some knowledge 🤙🏻

[@knowledge2035]

Every time JJ comes on I feel less and less competent as a trader. I think I'm going to go be a boring accountant or something.

[@cezasalad]

I really Love these videos you guys are making with JJ. The information that he is proving about what is going on behind scenes is really eye-opening.

[@matthewh5935]

As a newer trader, hearing this, and learning about market makers, this is one of the best podcast episodes I’ve listened to, listening to him describe the monsters he’s unleashed feels like watching a good horror movie.

[@malayali-appreciator-69]

Thank God, no ads!

[@jacqueschenet5511]

Does JJ have any book recommendations? Also why does JJ prefer TPO Charts? What advantages do these charts (TPO Charts) have over other charts?

[@patrickbrady8309]

After listening to these two podcasts with “JJ the former/reformed Market Maker”, I sadly realize what a toothless, Dog & Pony Show the Congressional Hearings into Robin Hood and Reddit and Melvin Capital, etc., were last month.

[@tommyg148]

NO "IF'S" "ANDS" OR "BUTS" Knowing this knowledge needs to become mandatory before trading. Priceless info👏👏

[@nathanmartin2779]

What you are doing is amazing, these podcasts with JJ are great information for people to realize. I can't express my thanks enough. I am excited for the next one.

[@316sar]

Is there a current podcast anywhere about if JJ has done any more research into GME?

[@Omar-uw3or]

Geart. thank you very much JJ . I will listen to this video 100 times like I did with your first video. which changed my life

[@beniyaz621]

Another great episode with JJ. Thanks a lot JJ, Love you man for your truth!!! Thanks KIM, thank you guys a lot !!!!

[@Hellokittylover350]

So happy for part 2!! Peel back the curtain and show us OZ!

[@charlesjurden5871]

I wish they would do a podcast on these Amc naked shorts.

[@thinkmackay8954]

Will watch this again, and again.

[@jaymiles8611]

Hodl your gme apes. We will be victorious in time.

[@beAdeodatus]

Excellent interview. Great job

[@davisharris2474]

I pray whoever reads this will be successful, keep fighting for success, them rich stay rich by spending like the poor and investing why the poor stay poor be spending like the rich yet not investing, Roar!!

[@silasbennett3239]

Invest, earn and be successful.

[@jacebrooks4621]

I always tell myself you don’t need that new Aston Martin or that vacation in Hawaii just yet and that mindset helps me make more money investing.

[@laurenclare2902]

I’m new to all this, how do I get to start investing in this, a lot of people seem to be earning from investment

[@henryalexander688]

@@laurenclare2902 Earning profits become so easy going with Valeri Ivanova. I encourage everyone who loves winning stick with her

[@laurenclare2902]

@@henryalexander688 How can I reach her

[@coltonboehm2599]

Truly an amazing interview 🙌

[@TheGreatTomDix]

OMG the strategy at 34 minutes is hitting me!

[@eduardopierdantguizar6636]

Just shocked again! Thank you for the episode, and thank you JJ!

[@thestreamreader]

How do you decide when is the right and wrong time to trade? He kept mentioning that.

[@maddywyatt9579]

Spellbinding information. Thank you for the podcast.

[@exuptoy]

Stephen is slightly annoying that when JJ is explaining he feels the need to interrupt. Leave the guy talk. This is gold.

[@Stockstotrade]

👍

[@vanbonz142]

Jonks always brings up good questions ! love it and thanks for sharing!

[@Josh-Jones]

For the interviewer who can't grasp why a market maker will short, it's really simple. That's their job. What do you think making a market means? When you are a designated market maker (see DMMs), your function is to make a market (bids and offers). In order to retain that distinction and the privileges that come with it, you can't simply pull your bids and offers, or you will suffer penalties. Market makers provide the buffer and stability to the market so that, in the absence of normal order flow from customers, markets are still liquid enough to trade. If a market maker has the inventory (the stock, for example), then the market maker will simply sell that inventory. But if the market maker doesn't have the inventory, it must sell short.

[@sandeepsingh-mo1uc]

Hi guys, i just came accross this video and honestly listening to JJ is really a learning opportunity. Can you bring him on again and actually talk about CLOVER HEALTH short that is underway and have explain from his experience what is going on ??? its always easier to look hind sight and speak to what has happened but it would really nice to know what is happening currently and how to understand the current metrics. Thank you!

[@2000conman]

Great video folks! Thanks for your hard work...

[@theintimidator8462]

Thanks Kim, Stephen and JJ. Amazing insights again JJ and it is amazing how the core of the Stock Market has not changed since it's inception really, people do forget that part. I was also a little shocked how long it took Stephen(not a knock on you lad) to truly grasp the concept of the Market Maker. So many people want to learn the patterns and technicals and never learn the most important part of trading, which is the basic flow of the market as a whole. The KISS method is underutilized. ♠

[@gme4life893]

Hedgefunds (at least Citadel (Ken Griffin)) has been routing buy-orders to dark pools, negating any buying pressure to GME

[@2cardarsenal310]

Have a feeling same with AMC! Banks are backing out now, this is HUGE!!

[@ChanceStearns]

Bro that GameStop CEO thing at 17:00ish gave me goosebumps!! That’s insane!!!

[@coughforme21]

Has JJ published a book? Where can I buy it? This guy is awesome. Learning a lot right now.

[@east2west2east]

There is a book "Price Action Volume" which said market makers can do whatever they want but they don't want retail traders to be scared to that extent that they won't trade. 😂😂

[@cryptogreen3578]

-26:00 they erased the sell button 😂😂😂

[@Stockstotrade]

😂

[@LizLele]

Great episode!

[@Keycomicsmarketwatch]

AMC Friday Closing Price May 7 - $9.51 May 14 - $12.96 May 21 - $12.09 May 28 - $26.10 June 4 - $47.91 We steady climbing & winning! Buy the Dips & hold🦍📈💲🚀🌋🤑💰💰

[@nicolezapata2365]

my sincerest condolences

[@shin658]

Hi JJ can you share some insights on $AMC and naked shorting?

[@derekrighter951]

This is soooo great, do this again!!!!

[@jameswatt8841]

Consistently pausing and re listening to parts. Wow. I’m going to learn way more from JJ

[@simplysimon1918]

Why did the dtcc nscc and sec make new rules if there’s not an issue?

[@mjbowhunter]

how do you short an OTC stock?

[@TRADERTSLA]

what a gold information. I liked it. Missing Tim

[@manishsat]

this video deserves 1m views

[@simbadamus8439]

What's the chart he said he uses at 1.13.14 ? Never heard of it befor! Ty

[@sd3116]

So how do u acc make a market? You put money in there? From where? Just so smart money can short?

[@unavailableuser2999]

So around 14:00 you mention you write 10 news releases for a new company. So confirmed that news doesn't effect anything, it's just used to drive price in an intended direction?

[@Andeyh]

No its used to create retail demand so they can sell their shares into you (or short)

[@TheGreatTomDix]

in GME and AMC Robinhood stopped me from buying and at one point people from buying AND selling!!!!!!!

[@BabyHefner01]

I love JJ's information. I went and watch every episode of COAMM when I found out about him.

[@thestreamreader]

What is COAMM?

[@BabyHefner01]

@@thestreamreader Confessions of a Market Maker podcast.

[@CuDeaDSooN]

All I hear is Raymond Reddington talking in this interview. What a boss.

[@wadeyoungblood4450]

So is the market a zero sum gain ? If gme can have a 125% short, does that alter the zero sum gain theory?

[@momomimi5853]

Yes, i agreeTim wasn't there and JJ was not interupted. I just wish that TIM controls his emotions next time and only listens instead of stopping JJ when he is talking.

[@dutchtrader8795]

Something he sounds fishy. For example, the question about toxic financing. He didn't know the answer as a former MM/promotor. Did you check his credentials?

[@2cardarsenal310]

The SPAC play he is talking about happened in late 2020 and many Retail Investors were burned. This is great education for those wanting to learn the game. ANYONE remember RIDE or HYLN???

[@rcolucci09]

Are retail chart patterns simply a consequence of market makers and manipulation? If so, are these patterns repeating due to different underlying pressures? Like cup and handle is due to say pulling supply and break out trading is short squeeze" or something like that.

[@zerudaniel9239]

Thinking the same. I mean it makes sense why do patterns repeat? I thought it would be bc it’s ppl behind the buying and selling but what if it’s bc it’s the same market makers strategies.

[@itohjoe]

I know how they are manipulating it and it is 100% legal. I have been shouting about it for many many many months, and now the SEC is finally talking about it.

[@MrBillybathgate5]

Thanks jj

[@Stockstotrade]

👍

[@charlesjurden5871]

Ape Nation sent me so much information I have learned wow.

[@pameladeavers-js5vx]

THAT WAS WILD!!!!!

[@Stockstotrade]

🔥🔥

[@bassb5140]

Looking forward to part 3

[@nathanabrahams5305]

Love JJ’s humility when he could easily be a proud and pompous bastard.

[@markjordan3312]

Why is death gotta whisper??😂 We can all hear you so might as well talk normal. Good stuff, thanks for sharing!

[@shahn78]

@ 57:00 JJ shows his naivety by saying 'oh can we stop raping ppl' not realizing there's a younger version of himself out there doing what he did. The ones doing it now will get older and less selfish and maybe discover some version of personal morality kicking... but ONLY after their pockets get full. A fascinating look at the other side through some who appears honest.

[@momomimi5853]

What a guy JJ? Hats off to you. You got balls.

[@jeffv3647]

I now get it, why you all say to only trade a stock and not stay married to it. Maybe if everyone plays by these rules, then CEO’s will be a little more respectful with investors money. Still continuing to learn! Bought the Traders Checklist challenge but am still learning. Thanks STT!

[@trillionairecapitalist4905]

What is Traders checklist challenge? Where can we get it?

[@bestrateheatair419]

can you give me tips on how to follow the market makers trades a guid plese

[@einarponce2822]

😢😂😂😂😂😂😂

[@ASR84_FX]

How to get in contact with JJ

[@BryanBrey]

What’s his Twitter and website? Show notes doesn’t list it.

[@beAdeodatus]

Amazing show. Thank you!

[@ryanlevin6348]

In the questions at the end, a distinction needs to be made between market maker and promoter. That would have allowed him to better answer the questions.

[@dalebradshaw6140]

utterly fascinating

[@cypherjasonhendricks5285]

I said he was teaching does anyone have the information for that

[@Stockstotrade]

Learn more here: lp.stockstotrade.com/premier-trial/?CP

[@armandojuarez1906]

JJ thanks for the info

[@cutmj]

38:40 I don’t understand how the short position is holding the price up and how this is beneficial for you holding 5M of the 4M float short at 30$ when retail is deciding to push it to 60$. Can anyone explain? Few minutes before he said that this was just how those that held GME were screwed

[@walkthemarkets6776]

He reduced the number of shares that could be traded on the open market. Imagine there's a new iPhone and you reserved all of them. Anyone wanting to buy one has to pay whatever price you tell them to because you control all the inventory. You don't need to worry about lower prices because no one else has one to sell.

[@joswauters9678]

@@walkthemarkets6776 But if he has the shares, why is he shorting it ? You short when you want the price to go down, no ? His goal here is to keep the price up ot $30 ? That I don't get.

[@malayali-appreciator-69]

@@joswauters9678 All I can tell you anwyay since I saw your comment just now is maker makers for NYSE and NASDAQ can naked short. Sell shares they don't actually have or have a borrow on. Creating new IOU shares which are just as good (until the company learns there are so many it dilutes share value), and increasing the selling volume.

[@malayali-appreciator-69]

@@joswauters9678 what he's saying is he's shorting the shares, therefore taking those shares out of circulation so to speak. If he went long on them he'd be selling them to others. Instead he's reducing the number of available shares. It's confusing but remember if he's selling someone 8s buying. If he's buying someone is selling. Now I'm confused! Lol.

[@alexandercripple4469]

Hi! Cheers! Were can I find this guy (MM) book?

[@gecco147]

Can someone tell me how to find him on Twitter? I just dont understand it 🙁

[@demonslayed8895]

How do we get in contact with JJ?

[@tradingcandles3094]

awesome, thank you