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A clarification video to my Dark Pools video.
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Well, bing bong dong shlong. I was wrong, there's no other way. To put this guys, i got to make a clarification video a couple days back about two days ago, i put out a video about how the market takes advantage of retail and i titled it. The shadow market right and everything about what i talk about in this video is pretty nail on the head outside of one uh small problem right: terminology vocabulary: this is something that seems like uh.

It shouldn't be a big deal, but titling uh dark pools. As the reason behind what's going wrong within stocks, like amc like gamestop, like many of the the ape stocks right, that's just flat out incorrect, because what i'm about to talk about guys is how these are different and how i got brought to that conclusion. In the first place, so, first and foremost, i do have to apologize right, it's uh, it's a responsibility that is on my shoulders that i i really should uh not get things wrong right, and i want to show you why i believed what i did so check. This out, this is an article talking about amc's, dark pool trading volume.

It reports - and this is just one one example - uh volume coming from amc from off exchange platforms right - and this is an important thing to note - is off exchange because that's how dark pool gets labeled as the reason behind dark pool trading uh that you see right, But in fact, it's really not dark pools that are accounting for this large number. In fact, the majority of dark pool volume on amc is pretty low compared to what i'm about to talk about which is otc now. What is otc right? Why is this important? Because it's the other side of the coin of uh off exchange trading, if you have two two, you know besides i'm about to say two heads, i don't know why you got two sides to the coin right. One of these is going to be ats.

Alternative trading systems just like we talked about right here. These are meant for institutions to have large transactions filled without any sort of uh transparency, and so you don't move a market at the same exact time, and then you have this otc otc stands for over-the-counter. You can think of these as the exact same coin right otc could be heads, ats could be tails and, in this instance, labeling ats, alternative trading systems or dark pools as the reason behind a lot of the issues that you see within, like i said, different stocks In the market is just wrong, it's the wrong term, but it does talk about the right concepts in the previous video. You do have a buyer seller going to a broker going to a market maker, we're using citadel virtue as examples, because i do believe they are duopoly within the market.

You know the market making scene who they have a decision to make, and this decision, my friends, it's almost worse, in fact i would argue it is worse that it is done this way instead of via a dark pool, because it shows an incredible conflict of interest. So, let's start off here you got a buyer buyer over here decides they want to buy 100 shares of x stock, they go to a broker and the broker uh just says you know what that sounds. Good we're gon na have this transaction filled and they send it to a market maker. Robinhood sends us over to sit it up.

For example, right now, you've got vladimir the boy from bulgaria and he says all right. Kenny g give me a rate. Give me a good rate. I don't want to have a huge spread between the bit in the ass.

Don't rail me too hard and the market maker over here has a decision to make kg says. Should i go over to load, exchange right and pay the market value, which is currently ten dollars in one cent, or should i do this otc over the counter now? Why is this important right? Look at the spread difference here: 101, phil or 10 phil. Well, kenny g over here and his uh, his group over at citadel, are going to choose the discount price because they're getting the same transaction order from uh the buyer. Over here.

Let's say they decided to buy it at oh market value - 10, 01., but they see it over here at 10, right 10, because this is what you see you see the lid exchange. You see lit exchange at 101. You say i want to buy this stock. They have it in their own reservoir.

Think of that as otc internalized transactions. So let's say that, a day prior, two days prior citadel in anticipation of a major amount of buying pressure when another way to buy stock from the lid exchange or from a dark pool, they could do that either way. This is uh sort of two ways to think about it, but think primarily about lid exchange. They have a portfolio of stock in whatever they decide, they're gon na own, a portfolio of stocking and this otc internalization of the transaction means they're pulling from their reservoir.

This is literally freaking held by citadel. This is citadel's own holdings in a stock and they go okay. I bought this at ten dollars yesterday, uh they wanted it for 1001., we'll send them we'll send it to them for 1001 and we just paid 10 bucks. We made some money right bam goes out, but this is the problem.

They have an obligation to get the national best bid offered. Meaning gets you the best price possible for the stock that you are trying to buy and if they're not doing that right, you get a conflict of interest here where they bought it at ten dollars literally the day before, maybe an hour before, maybe a minute before. Instead of at the lit exchange - and they don't give you that price improvement - that's problematic right, that's not in the best interest of retail investors. That's that's hugely problematic virtue right.

They can do the exact same thing, otc internalize their orders and they say yeah. Why would i why don't i go to the exchange? Buy the stock at 10? 10 001. I've got it in my portfolio with 10. I made a cent hooray, you know, send it on its way boom.

Just like that, every other market maker. What choice do they have you? Don't leave them any choice now get this. I made an example, my previous video, and this is actually an even better example and an even better way to illustrate sort of what takes place here so check this out. Bread lover you've got uh this guy.

He says i just love me a good pastrami. I need some bread for my sandwich and he uh. He goes to a distributor and distributor, says too easy, but they actually don't have bread right. Now.

Some distributor does this. They go to a bakery this bakery. They tell the bakery, hey man. Look this guy wants a pastrami.

He wants a nice loaf of bread. What can you do for me and he says all right: i've got two choices, actually, probably three choices. I can go to the less transparent, which you can think of as dark pools. Lower quality ingredients buy it for three dollars uh.

Typically, this is meant for uh bulk institutions. I don't really want to do that right. What's the point of buying such a large amount of ingredients for such a small customer, i know i could go with exchange. I could go just get some higher quality ingredients.

Ten dollars just buy from the same market that everybody else probably is able to see, but how about this? Instead, i have my own reservoir ingredients. I can internally execute this transaction, because i've actually already bought all these ingredients and it might be a little old. They might be paying more than uh, they think they should more than they should be, but who cares i'm making money so it i've got my own ingredients. I've got my own reservoir.

Let's send those ingredients out here and on their way, so they do their reservoir of ingredients. Their otc, their internalized transaction takes place, goes back to the distributor distributor makes their bread. Bread lover, gets their bread. The problem here is these: two people at the bottom are getting they're getting they're, getting shoved right up their freaking, anal, cavity and uh.

They can't do anything about it, because the bakery is not transparent about these things, just like citadel and just like virtue. So, where am i going with this video right? I can understand entirely why this uh buddy? What are you doing up here? This is titan guys be my cat. You gon na bite me no. No.

The problem with this is is right here, for you right check. This out, if you look at this sec document the gamestop report, they talk about uh, they talk about dark pools in it. They discuss dark pools, but wholesalers, which you can think of as otc internalization of an order, is the real problem here and you can see it right. Look back in january, you see that 50 of uh volume rising as high as 55 daily internalized dollar volume twice came from citadel right.

High wholesaler volume virtue same thing, high amount of wholesaler volume back in january; they discuss it, but this is a confusing concept. It's a very confusing concept where there's purposeful and necessary unnecessary complexity tied into the situation. So people like you and me, don't understand it, and if we want to be taken seriously, an important thing for us to do is to write use the right terminology. Apes have been right about all the problems, the conflict of interest, the not getting the the best execution from people like cereal and people, like virtue you're right about all of it.

All those things are very valid. We just have to use the right terminology right. I see things like dark pool abuse and i recognize right and i got on the train and this video is called. I was wrong.

I got on the train and i talked about dark pool abuse on my twitter on my youtube, but when you get new information, i've said this before and i really do mean it. You have to be open to the idea of changing your mindset on something. This isn't a this, isn't a large shift, it's a small shift. This is using the same concept and giving it a new name.

This new name, my friends, is called otc otc, my friends over the counter. Not for me otc is not for me right. It's problematic. It's got conflict of interest.

It's it's very obvious, probably way more obvious now than uh, perhaps even with dark pools. It doesn't matter, it's catching a name right, dark pools, sound like uh, something coming straight from a villain in batman right but uh. That is what it is, it's just what it's called we have to. We have to use the right terminology and i would be the first to come out and say i was wrong right and we have to be better about these things, because if you got somebody like the sec, you've got somebody like big big players, who are maybe Sitting on the sidelines and want to get in and give their two cents about what's happening here with retail investors in the apes they're gon na look at this dark pool thing because they might know exactly what it is they're gon na say these guys couldn't even Do their homework enough to understand the difference, and i get it right it's confusing stuff, but as we learn as we grow, we share that knowledge with each other.

We keep it freaking real and we continue to move forward. That's ultimately what we can do right, so that is the video that is the big thing here when you picture dark blue abuse picture otc picture your order being internalized and filled by a market maker in their own portfolio. Now i am keeping this simplified or this is a simplified process, but these are the most important things to note. Hopefully you guys pulled some value from that i'll catch.

You guys on the next one as always much love light taps and peace.

By Trey

26 thoughts on “I was wrong”
  1. Avataaar/Circle Created with python_avatars Fat Lipz Jr says:

    I think it’s time we focus back on AMC 100%. I’m selling PHUN BBIG ETH and SHIBA tomorrow to go all in! Hope the apes join me!

  2. Avataaar/Circle Created with python_avatars Bjord Haaland says:

    Its the same concept i use as a plumber. When ever I see fixtures on clearance I buy them and hold them in inventory. When I customer needs one I'll sell it to them. They are happy cause they are getting a good price but, they dont know I paid half of retail for it.

  3. Avataaar/Circle Created with python_avatars Darth Vivena says:

    Bing Bong is from tradespotting he coined that months ago, may want to come up with your own catch phrase

  4. Avataaar/Circle Created with python_avatars Liam Kyar says:

    Thanks for talking about the actual issue I’ve only been ranting about it on various platforms for about 6 months now. And It’s not just internal portfolio swapping, it’s sub fractional bidding that’s caused the systemic damage the market has been feeling.

  5. Avataaar/Circle Created with python_avatars That Guy says:

    Wow!!! I had to see for myself and that’s just fucked you’d steal another’s catch phase (Jamie@tradespotting) and give absolutely no props and the indecency to even give him props for stealing it knowing damn well that’s where you got it from. Even more sad that you can’t even respond to a single comment he’s tagged you in to actually have an intellectual conversation about AMC especially if your as true to it as you claim and not just in it for the profits of people you hype for it, just sad and another reason I’ve had to tune you out!

  6. Avataaar/Circle Created with python_avatars jamie8520 says:

    Trey uses bakery as reference, I work at bakery. MOASS confirmed 😂🦍

  7. Avataaar/Circle Created with python_avatars oneenigma4u says:

    Using the right terminology you say. OTC stand for over-the-counter. If you buy something OTC you're going to pay a commission even though you are on a non-commissioned brokerage. Why because you are literally buying the shares. You're not getting issued a place marker of what shares your brokerage supposably has on hand.. also when you buy something OTC from your brokerage. You will receive a quarterly prospectus from that

  8. Avataaar/Circle Created with python_avatars madDragon08 says:

    This is why people hire lawyers to fight lawyers. They speak the same language. Once you communicate clearly with your lawyer, he can fight for you. For a negotiated share of the loot of course.

  9. Avataaar/Circle Created with python_avatars Zach Black says:

    Yo ho ho and a bottle of Kraken Rum! I love you Pirate Trey ❤

  10. Avataaar/Circle Created with python_avatars Kieth B says:

    Saw your cnbc special .Imagine your army intelligence or something since you cant talk about the army job. Tripped me out I'm located only about an HR from Lawton . So where not to far from each other.

  11. Avataaar/Circle Created with python_avatars martin giguere says:

    Citadel is waiting your video and try to break us and yourself
    Holding since January 9500 shares

  12. Avataaar/Circle Created with python_avatars MACSTEEL107 PS5 says:

    Trey we need you in BBIG 100% utilization and only 95m float. Im not saying for anyone to sell AMC. But we need volume

  13. Avataaar/Circle Created with python_avatars Nick Lopez says:

    🤨…the dark pools no data for the public the last 8 days and we are down 9$ a share 🤨🤨 come on now! The dark pools start getting good love from matt khors and Trey about the same time and now dark pools aren’t part of the problem any more?? Coincidence I think not.

  14. Avataaar/Circle Created with python_avatars Doug Ranta says:

    Checkout BBIG,another fundamental play being heavily manipulated by hedge funds and market makers. It reminds me of where AMC was back in February and March.

  15. Avataaar/Circle Created with python_avatars Big Lennard says:

    Brother Trey, great great job on the Melissa Lee interview!!!!!

  16. Avataaar/Circle Created with python_avatars cinco toys says:

    @trey’s trades would love it if you had @tradespotting on to your show! I think you guys would have a very informative conversation and would love to see it happen! 🙏🙏🙏

  17. Avataaar/Circle Created with python_avatars Markiemark says:

    Silly Hedgies playing games and no one is falling for it. Apes buy and hold. ❤️AMC

  18. Avataaar/Circle Created with python_avatars Joseph Chantry says:

    My advice to new investors: Buy good companies stocks and hold them as long as they are good companies. Just do that and ignore the forecasts and market views which are at best entertaining but completely useless

  19. Avataaar/Circle Created with python_avatars K T Ovcharka says:

    Thanks for the correction…shows integrity and ability to always improve and always learn..onward and upward!! Bing Bong!! The price is WRONG!!

  20. Avataaar/Circle Created with python_avatars Wilhelm Tell says:

    Why is the New Jersey Pensions Fund buying $ 11.2 million worth of AMC shares?

  21. Avataaar/Circle Created with python_avatars JDthaMC says:

    This is why we love you Trey you are the realest. No BS here

  22. Avataaar/Circle Created with python_avatars Mizz A says:

    Hahaha I came here for the bing bong! Shoutout to @tradespotting and @rocky outcrop and to Trey for bringing Jamie’s catchphrase into the wider audience!

  23. Avataaar/Circle Created with python_avatars G 2020 says:

    Is amc still going to squeeze? I'm down a few thousand dollars

  24. Avataaar/Circle Created with python_avatars Anthony says:

    Dark pooled abuse. Otc
    WWE. Whatever it is, they are body slamming the shit out of retail.
    They paid the politicians who wrote the rules in their favor…
    I guess a fairing free-market is just the catch phrase that means nothing

  25. Avataaar/Circle Created with python_avatars Sam says:

    Your intro sounded like Tradespottings Bing Bong the price is wrong catch phrase. His a cool dude as well!

  26. Avataaar/Circle Created with python_avatars Ra Sharpness says:

    Can you look into eyenovia and the stuff they are trying to do to prevent this from approval? Seems fishy and amc,gms and eyenovia all had identical charts for weeks they might be connected to all this. This is why im asking the pro! Cheers from California

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