 Okay, I wanted to do a video on GME because this has been so widely talked about in the last few days because there was a hedge fund that had a short position in this. It was a bad trade, not because they lost even though they did lose, which I'll talk about in a minute, but the trade really made no sense whatsoever at all. They shouldn't have been shorted and if they had been shorted, they should have covered it. I'm going to go over where it went. I don't know when they took the position, but they might have been disclosed somewhere, but the scuttle butt on it is that a hedge fund lost more than 30% in this trade because they were short the stock and as you know, it's more than doubled in price just since yesterday. Now, they didn't disclose how much they lost, but they said it was more than 30%. No one should lose more than 30% of their account in one trade. No one should risk that much to not cover something that would be a loss, which they could have killed this trade and they could have actually had less of a loss if they had exited the trade once they were down, which they didn't do. Now, CNBC had said that they had said that they were still solving. I don't know if that's true or not or if they're going to go under, but it just goes to show you that even hedge funds make bad decisions. This was a bad decision that had no money management. So often people say to me, well, if I had more money, I'd make more money and if I had more money, I'd do better. No, not necessarily. And this situation, this actual event, this is a big lesson for people because the fact is you can have billions and billions of dollars. I guess the fund was worth 12.5 billion. They lost over 3 billion. They're not going to disclose exactly how much. When you take a hit like that, how are they going to raise money again? Who's going to go invest with them? That's one. So the website's down. You can go in and put in MelvinCapital.com, but it's just a page now. I think they probably took the site off because of all the negative news, but the train just made no sense to me to be short this. This is, let's see if I can take this off to even show you now because this is so funky here. I don't know if I'm going to be able to show you what. Oh, I know. I'll take it off. I'll go back to the 26 only here. This is good. This will work. So I don't know where, I don't know where they took a short position. I have no idea. But let's just say they did wherever they did. When the stock lifted, you know, approximately here, which was a couple of days ago, nowhere near where it's trading at today and nowhere near where it was yesterday, even in the close. You can see here how the position could have been exited. Whatever the loss would have been saving, saving the massive loss from this point. So again, the lesson from this situation here, what happened is having more money doesn't necessarily mean that you will make more money or trade better because if you don't know what you're doing, you still won't make money. Even if you have billions of dollars, that's number one. And number two, you have to use a stop loss. The stop loss could be a fixed stop where you're in a day trade, a real stop, a hard stop, a limit order stop that kicks you out. The system kicks you out when you have to stop in on the live day as a day trade, for example, or you are in a swing trade or an options trade or whatever trade you are, and you have a placement, a price placement or a percentage placement, you say, I'm going to exit this trade when it's down this percent or at this number. None of that occurred here. It was poor money management. And it's be interesting to follow that to see what really happens with that fund. The fund has not been around a long time, only since 2014. But it does just go to show you this was a bad train to risk this much and lose this much, no matter how you point it, that the train could have lost and not had this type of loss if they had exited with a loss much, much sooner. And whether or not they had wanted to, whether or not they believe the stock was lower or not or whatever the case may be that forced them to take the position whenever they took it, which again, I don't know when they entered the position or with the cost average basis was the position. But I know that when this broke out, which was here, this was just Friday. There was plenty of time to exit this position all day last Friday when the stock hit over the high, which, you know, they did not clearly do. CNBC had said they exited here. So the stock doubled from where they could have exited really. And I don't know if they exited the whole position yesterday or not. And if they had still some into the day, you can see how hurt, how bad it is. So the lesson here is you have to manage your risk accordingly. Then you have to use stops and having more money doesn't necessarily mean that you're going to trade well because someone made a big boo boo here with this. And the trade just to me wasn't a good train. But let's just say that they believed in the trader, had reasons for being short the stock, they should have exited it last Friday. I mean, you can see it right here in the chart. This was around 60, 63, 64, it hit up on 72 Friday. They should have been out of it. They should have been shorted there. Now, as far as people, let me get back to this that have been day traders that have been trading this. It's a death wish to do something like this. It's volatile. Stock was halted today. I don't know if it was halted yesterday or not. But again, it goes back to the same thing. What's the strategy here to do anything with us at all today? The stock was doubled in price. I'm not going to go along something like that. Also, people are shorting it. How can you short it when it doubled in price? There was just no strategy whatsoever at all to do anything with this today, and people were all over it. People were probably long. People were short. People were doing a million different things. If you want to have consistent results as a day trader, as an active trader, or even a long-term trader, you have to have a strategy and a reason for doing things. This is a volatile stock right now. It has been for the last couple of days, Monday, Tuesday, Wednesdays today. And many people lose money in the market because they'll take a trade. And many people made money in this. So we're day traders that made money in this. Take a trade to have no reason why they're doing it. Crazy trade, make money. And then think that it's gonna work over and over and over again. You can't do that. Because you take one trade that makes money and then 20 that lose. It's a longevity in this business in trading has to do with consistency, which is applying a strategy over and over daily that works and that has more wins than losses. And it's really just as simple as that. I'm lucky that I have that in my system. My system does have to do with reading gaps. I would not have gone long this today nor would I have shorted it. I wouldn't have touched it. I wouldn't have done anything with it. And it's gonna close really strange here with a topping tail and a bottom tail and a small body after a very wild ride in the last 48 hours. So having a strategy is very important. And people are taking trades and risking their own money, reading stuff in chat rooms and watching blind videos and not knowing what they're doing. I will forever think that's crazy and dumb and stupid. And then I know why people lose. But if you really wanna get serious about trading and you wanna get serious about making money in the market and have longevity where you don't blow up your account and do stupid stuff and win and lose and win and lose and win and lose. Which is emotionally exhausting. Then you have to learn a strategy that's consistent and it helps you to be consistent. I've been on a nice roll here. When I'm in that zone, every single thing that I see, I see before it happens and I see it very clearly. And I'm in that zone right now this year for 2021 and it's been a good year for people in the options newsletter and in the day trading room too. We didn't do anything with this. It's not a stock I watch all the time. I'm not listening to news all the time or anything else but I did happen to of course see this this morning. I wanted to talk about it and then I read the story about the hedge fund and it's debilitating. It'll be interesting to see if the fund stays in business because who would invest money with them after this and you wonder then what's really gonna happen to the people who are investors in the fund. And again, it's an important lesson as far as risk management goes. Especially, I mean, I would think of anything if I ever opened a fund, I would be more conservative, more conservative than I am now. I mean, so it's really interesting. I would be more conservative. I do not invest people's money but if I did, if I ever did, I would be extremely conservative much more conservative than I am with my own money which is interesting but clearly these people were not. So couple lessons in here, very interesting. Good luck everyone. If you're interested in learning my golden gap system it's a system that I use. It's consistent daily. We apply it in the market and in my stock picks. Email me at melissathestockswish.com. Have a great day.