In today's episode, Kip examines the recent financial turbulence and draws parallels to the market action during the coronavirus "plandemic." Is the bottom in for the market? Kip covers what we see in the market today, and the potential flip side to the worst-case scenarios. Tune into today's podcast to learn more.

Don’t look back because the market is closed. Good Tuesday afternoon everyone. Kip Herriage here with the daily VRA investing podcast. Hope you had a good day today. A little more, as Tyler just reminded me, a little more normalcy taking place in the market right now. We’ve had a couple days where not a whole lot happened. Market did finish lower today. Everything but Russ 2000 was, was lower today.

Not, not a, not big losses here. Dow Jones down 155. That’s only 410 of 1%. And, but, but again, kind of an inside day action both days, low volume. This really is what the market needed now. Will it hold up? We’ll have to wait and see. I gotta tell you, the more that I look at this, the more this does remind me of the plandemic. You know that five week collapse, right? And that’s what we’ve had here.

Okay. The returns, we shared this this morning in our letter. Just, just stunning five week returns here. Or excuse me, losses I should say. SB 500 down 19%. Nasdaq down 26%. Rust 2000 down almost. And the semis SMH down 39%.

[00:01:05]:
But there’s a very, there’s at least a decent likelihood that this could be contained. And the reason it reminds me so much of the pandemic is because the plan, we call it the plandemic because it was planned. It was not a viral event. This is planned. It was completely coordinated. We saw all the media, we saw all of the global governments, they’re all in lockstep. Which by the way is the name of it from, from the Rockefeller Foundation’s document for 2010 called Lockstep. You can still find it on the Internet.

I haven’t looked a little while, but I checked out like a month ago. It’s still there. You got to go through a few pages to find it now. And a lot of people now are trying to co op it in their marketing or whatever, but it’s still there. This is what Tyler and I were reading back in February and March of 2020 and we started bringing to your attention. We talked about this literally every day. That’s really when the podcast started growing, to tell you the truth, because people weren’t hearing this anywhere else and, or at least not in a of places. And again then we started getting banned everywhere.

[00:02:05]:
Twitter banned me, we got, we were still banned on so many different sites because our coverage of this and we just weren’t ever going to stop, you know, seeing, telling people what we were seeing. But the parallel here that I think is most interesting is that the plan dimmock was planned. And this was either planned or how about this? It didn’t need to happen, right? It just didn’t need to happen. You know, I’m not going to get into. This is not a conversation about Donald Trump. This is a conversation about markets losing $11 trillion in total valuation. Right. In a very compressed period of time.

Again, very similar to the pandemic. And you look back, you go, okay, why did that have to happen? It didn’t have to happen, but it did. But again, once it was over, it was over and then we had a bottom in place. And that’s. I know what we’re all hoping here is that’s what’s going to happen here. Is that going to be the case? I got to tell you, I don’t think so. I do think we have at least a retest. These are healthy, okay? Retest of the previous lows are healthy and they typically happen.

[00:03:11]:
Also, capitulations are healthy. We have not seen capitulation. And I’m working on a new piece on this for tomorrow’s letter because we may not, we may not have capitulation because it’s the, it’s the millennials that are driving everything you’ve seen, like I’ve seen retail buy is just all off the charts. The retail investor. Millennials, okay? Mostly millennials. Largest segment of the population, One of our big broad megatrends was the millennials. This is from, you know, almost three years ago now. It was three years ago we started writing the book.

And Todd and I were shocked at what we were finding about millennials because, you know, this, this generation has been on so much forever. They live in their parents basement. Oh, they don’t have jobs. They’re 30, you know, they’re never going to get married, they’re gonna have kids, never gonna buy a home, all that. And we heard all that because, you know, I had two boys that are millennials and it never made sense to me because all of their friends were sharp, right? Everybody that I met as a millennial is like, okay, yeah, they, they got it going on. They can find the answer to anything in about a half a second online. They’re born into technology. It’s in their DNA.

[00:04:14]:
They’re sharp as can be. They, you know, they’re great conversationalists. I was not that good a conversationalist when I was 15 or 20 with adults. Talking to all of Tyler and Sam’s friends growing up, it was like I was talking to another adult. It Blew me away. So I never, ever bought the millennial stuff that was out there. And then we researched the book. We found statistic after statistic that said, no, we have been lied to about that.

I just find that. I find that crazy that they’d want that. That story to be out there. And now we’re seeing that it never was true. You know, again, the largest segment of the population now about to be the wealthiest segment of the population, they’re inheriting 70. I just saw in the book we Trillion. That was the number. Then I just saw 90 trillion.

[00:04:58]:
Right? And it’s probably because asset values have increased. I’m sure they had a lot to do with it. But whether it’s 70, 80, or 90, they’re inheriting a lot of money. That process has already started. And what else do we know? They love bitcoin, they love real estate, housing, and what else they love. They love stocks. And so I’ll just give you a little sneak peek, because if you’re old like me, then you remember from 1990s, and I think it even bled into the 2000s, the Mrs. Watanabe story of Japan.

It is a fascinating story because during the 1990s, 2000, as the Japanese market was collapsing, remember, they almost overtook the United States as the world’s most powerful economy. They’re buying up all Japanese real estate, etc. Excuse me, US real estate. And then it just fell apart because they finally got our attention is what happened. Okay? And they just didn’t have the wherewithal, really, the girth, if you will, the size of the population, to really take us on. But as their economy was struggling, something started happening as the yen was really getting hit. All of a sudden, this group of investors in Japan that were nicknamed, code named, Mrs. Watanabe, which is really a combination of just retail traders.

[00:06:16]:
And it was really mostly, actually, it was like 70% men, 30% women, but there’s a lot of women traders. So this was a very unique event. And they were in there using the yen carry trade, supporting the yen, supporting the Japanese economy. And if they became known, I’m not making this up, they became known all over the world for this. This was a real thing. And they made a difference. And so I. I kind of think, you know, we just.

This market could have crashed. Okay? This market was pretty close to crashing. And all of a sudden, the retail buyers started coming in. Now, who was that? It was Millennial. I’m telling you, it was millennials. They’ve now turned. They support Trump. They believe in what he’s doing.

[00:07:00]:
They’re in. They are all in. And they’re wealthy as can be. They have very little debt, by the way, it’s the new baby boom generation. That’s what’s happening here. Again, that’s not being reported enough. But if that’s the case, and if the millennials are the new Mrs. Watanabes and they’re the ones supporting as retailers supporting the stock market, if they’re the reason this market cannot go much lower, then, folks, we’re talking about something very special happening to the upside.

And that’s what we talked about in the big bribe. And just as a reminder, look, this last two weeks have been insane. Okay? It’s been impossible, really, to make sense of a lot of it. We’ve been all over the place and I absolutely hate markets like this. However, it’s when I am most locked in. And just in case you don’t know, I’ve been sleeping like two, three hours a night. And because it’s important, number one, I take a lot of pride in our job. We beat the markets 18 and 21 years.

[00:07:56]:
We’re taught on my book competitive. We don’t like losing, right? And we manage our money like we tell you to manage yours. So again, it’s personal and we take pride in it. And the last thing I want to do is get your email saying, I listened to you and look what happened. Okay, that still bothers me. It bothered me as a financial advisor and it still bothers me today, even though we’re not anymore. You know, we’re, we’re, we’re FinPub Financial Publishers. But still, I, we care.

You know, we actually do give a shit. So it’s a combination of that that has me really locked in. And I think what may be happening here, if we’re right about this, if we’re right about retail investors supporting this market, we could be getting very quickly to, to, to a, to to an end of this, even if we have a bit of a retest or whatever. Because if I’m reading this right, the retail investor is going to be there for that retest too, because they stepped up in a big way. Again, this is mostly millennials and supported this market. So as I wrote it again this morning, we’ve talked about this a fair amount. The semiconductors down 39% right. From the highs of last year.

[00:09:01]:
Brutal. But if the semis are the new dot com, and I believe that’s the case, and we also believe fully that the innovation revolution, which we named is still happening, it’s still underway. Nothing’s changed there. But that means this is an extraordinary buying opportunity. Not that we can’t go lower first. Again, I kind of think we might, but maybe not. Maybe this is over. Because if we just get, if I could be very candid, if we just get some sanity out of D.C.

and yes, that includes the President. If we could just stop throwing surprises at people that freak the markets out and have bond yields skyrocketing, bond prices crashing along with the stock market along with the US Dollar while gold goes parabolic. That’s not normal in my career. These correlations, that’s never happened before, they’ve always held up, at least to a large degree, primarily being the government. Bonds always get stronger, yields always go lower when we have some kind of global economic or stock market turmoil. And that didn’t happen this time. Right. So you know, we, we want to.

[00:10:09]:
I’m sorry, I got a phone call there. I, I need to take it, but I’m not going to finish this podcast. I’m not gonna, I’m not gonna break the podcast up. So the semi is down this much again. This happened in dot com. We told you about this, we’ve talked about many times. You know, look, I, I, I took two, two and a half companies public during dot com and you know that five year period was a crazy run up. We didn’t know what was going on for the first year, year and a half.

And they were like, okay, this is actually happening. It’s real. It’s not just a short term fad. And then we were all locked in. And what stood out to me, what I remember most about it was the final 18 month melt up because NASDAQ had just gone through a soul searching, just a soul crushing. 30, I think it was 32%, three month bear market. Sound familiar? Right? And then, and then it was over. But that by then most people had been washed out and thinking okay.com’s over.

[00:11:02]:
That was fun, right? No, it was just getting started because the final 18 month, 270% melt up move higher in NASDAQ again over 18 months. Happened just after that three month bear market. And of course isn’t that always how it happens? It always happens when the public gets washed out. Well, the public hasn’t been washed out yet. So this is, this to me is like more one of the more interesting aspects of what we’re going through. Are we going to have capitulation? Because in every one of, look, we had it and we had a capitulation, you know, for the pandemic. We had it in 2008, we had it. We hit the lows again in 2009.

Again, usually when you have these big sudden sell offs, you’re going to have a retest along with real capitulations. Means the retail investor gets shaken out. That just hasn’t happened this time. So this is going to be fascinating to watch what happens here because again, folks, if we don’t have a retest and then Trump figures this stuff out, right, you’re going to see this market rock and roll. From here it will probably be a V shaped recovery. But, but again, a lot of things have to happen for that to happen. First, I just want you to know this is, this is the way we see it. We are on top of it.

[00:12:13]:
We understand the parallels and there are a lot of parallels to the pandemic, right? There are a lot of them, both good and bad. But hopefully it’s all going to work out great. I will have to, I do have to share this with you because we wrote this up this afternoon and this is new research. So we’ll see how this plays out. But you know, what also happened during the pandemic was we learned how demand is pulled forward that we’d never been through, you know, the Spanish flu, but no one was alive then really. So we’d never been through anything like that before. And so we didn’t know, okay, they’re going to shut the whole country down and now supply chains are going to break. You know, no one.

All of a sudden you go to the store, you can’t get toilet paper. That’s when most of us started realizing, okay, this is different. What’s going on here? Well, that was only five years ago. People remember that, both consumers and companies. So what do you think they’re doing? Yeah, they’re backing up the truck and they’re buying everything they can. Now that’s going to be affected by these tariffs potentially. And again, it runs both ways, okay? U.S. and other countries, and they’re tariffing us, we’re tariffing them.

[00:13:21]:
So now there’s a bit of a pause period with the president. But, but again, all that confusion is a lot of companies, you saw the news from Apple, Apple, how many 8,000 tons of iPhones they had shipped in from China trying to beat the, the tariff deadline. I may be wrong in the, on the, on the tonnage, but it was a massive amount that’s happening everywhere because no one wants to be left without product and without parts. And so that’s called a demand Pull forward demand pool. And so the point being, and we’re going to keep digging into this to see, make sure that it’s happening instead of just kips. Wild idea here, but I got the sense of it. I was at grocery store this morning, right? And I’m looking at all the things that weren’t on the shelf. I’m like, these are the things that weren’t on the shelf.

People are thinking this is going to happen again. And I asked the cashier, he goes, oh yeah, people have been buying up left and right. I’m like, okay, all right, well let’s extrapolate that out to the, to the market, to the broader economy. And so again, we’re going to be digging into this to make sure we got the story right. But I will tell you, I asked Grok about this. If you don’t use Grok, which is the AI for, for X, it is unbelievably good. I, I’ve tried some of the others on chat, GPT and some of the others. So far nothing’s come close to what Grok does.

[00:14:36]:
I use it as a research assistant and it is just outstanding. I asked Grok and I put all these inputs in and said, all right, if we have a demand pool and if the economy grows by X number, the number that Grok estimated could be as much as $300 billion, it just in demand pulled forward, right, in a very compressed period of time over like a quarter. And Grok tells me that the, that the GDP growth could grow by 2% or more. Right? You add that to, let’s say we just have, we’re not going to have negative GDP because I still don’t think we’re going to have a recession here. Right? Trump’s not going to let that happen. He’s definitely not as having a depression. We understand he had that conversation, but I think it was a wake up call for him. But you add that to say we’re just going to have 1 1/2% GDP now.

We’re looking all of a sudden having close to maybe 4% GDP growth for the second quarter. There is no way this market goes lower if that’s going to be the case, because the market’s a discounting mechanism. The market knows it before any of us do. So these are the things we’re watching the market action. What do we watch the market action that’s going to tell us more than anything. And so that’s why, you know, we want to see these baselines that we saw today, a day of basing we want to see this continue again. Normalcy is very important to the market. With good internals, the semis.

[00:15:54]:
Today we’re up again believe it or not that’s back to back days. And so you know we are looking at adding another semi position because you know we’ve been, we flipped out of that. Then we did a quick one day trade, made 25% there and another semi ETF and now we’re looking at adding again because I can promise you this much, I’m not going to be on the wrong side of this market when it turns. That is not going to happen. I’m a trend follower and if I go to bed on the wrong side of the market I can’t sleep, okay? That’s how much it bothers me and especially with the semis because we did so incredibly well in the semis for. And we made up. Look, we’ve booked a lot of profits in semis over the years, okay Even over the last two or three years. But this last disastrous run where they just went down day after day was, it was really hard to stomach because we gave up so much.

We still made money. We would had so much more gains if I sold it. But I can promise you this, if I’d recommended selling them, a lot of you say what are you smoking? Why are you doing this? What’s wrong with you? You’re the one telling us the innovation revolution and this is the roaring 2000s. It’s going past 2030 kip. What made you change your mind? It was just very hard for me personally to do that. But the semis again up back to back days we will be in the semiconductors in a leveraged etf. If and when this market really bases and starts going no one has to worry about that. That’s the one group we will be back in, okay? Along with a lot of others, right? But right now I think again right now it’s about discipline, it’s about being smart and about probabilities.

[00:17:24]:
Okay, we covered this this morning as well. So we got to cover it here. This is bearish information. Understand what I’m about to tell you here. Death crosses. All right, I didn’t write this in this morning in the letter but I’ll tell you now. Yesterday we had a death cross in the SPF 100, right? And it was the, you know, we’ve had what nine of them in the last two decades so they’re somewhat rare. What makes them more powerful is if they’re taking place when the 200 day moving average is rolling over.

Now, as a number of you pointed out to me today, the 200 day hasn’t technically started rolling over. It, you look at it, you actually can see it starting to roll a little bit from like a week or two ago. But so it’s like, you know, art or science. Right. But the reason I believe it is rolling over and the reason it’s going to roll over is that this is, this is, this is textbook. Okay. The semis lead the market, don’t they? The semis had their bearish cross with it with the 208 rolling over on March 10th. The NASDAQ 100 just had it last week.

[00:18:24]:
Right, Same thing. Rolling over, bear cross. That’s the 50 day cross and the 200 day. On the downside, small caps was 2,000, had theirs on March 25th. So this is, they’re happening like as they’re supposed to. And the US Dollar, by the way, is going to have a beer. A golden cross. Excuse me, a death cross.

Excuse me, it’s going to have a death cross almost like tomorrow to me. All right. And again, 200 day moving average also rolling over. So I would say that the probability of the death cross that just happened in the SPF 100 yesterday, the probability that it’s going to happen with the 200 day moving average rolling over is extremely high. Goldman Sachs estimates 90% saw that yesterday. Now what does that mean? Well, over the medium to long term, frankly, not a lot. The markets just tend to slug that off and do fine. But the bad news is it does tend to have an impact in the short term.

[00:19:20]:
Going back to all these cases, that has happened over the next, Again, short term, 15 to 20 days, the S500 has been down two thirds of the time with average a median loss of 2.6%. You know that, that, that’s a, that’s, that’s not a ton, but it’s still painful from here. That’s the average. Again. We saw death crosses in 2008, 2018, going into the fourth quarter from hell Christmas. Mel. Thank you, Jay Powell. And then 2022 as well.

These are all painful death crosses and they did hold up, but they don’t always. But longer term, and this is the Good news, after 60 days, the market starts rallying. The market’s up 71% of the time with a median gain of 2 1/2%. So, you know, again, we’re going to keep watching it closely. As you know, we, we sold, we sold nine positions in total so far. And we’ve sitting On a lot of cash. We even sold bitcoin. That was, that was hard for me to do.

But you know, we still got great positions, you know, with obviously our gold and silver, physical gold and silver of course and mining stocks. We’ve still got two 10 baggers and a min stocks and we got some of our favorite 10 backer positions like Tesla. Right. And I don’t give them all out on this podcast because we have some non members that are, that are, that are listening. Why are you a non member? Why what? Why haven’t you joined us? Right. I don’t think you’re going to find anybody that’s beat us. So we, we post every turn, every trade we do going back a decade. It’s all doc.

[00:20:47]:
Triple time steps as we call it. It’s all right there in your member site. And you know, we do things our own way here. I know that’s sometimes not always the most popular thing because we’re, we, we just do what we think is going to work and that’s based on again, I’ve done this 40 years. Okay. But look, we’re going to keep an eye on this, okay? Would I like to see capitulation? Frankly I would. It’s healthier. Again, that’s, that’s what usually happens in situations like this.

I think if we got a flush, if we got the Mrs. Watanabes of today, if we got the millennials learning that markets can keep going down, that’s a healthy lesson to learn. But it doesn’t mean we have to learn it. And I don’t have any clue if you had to ask me, you know, hand the Bible, what’s going to happen? Are the millennials going to cave on the next capitul, on the next retest of the lows or next serious market shakeout? I do not know. Mrs. Watanami never did. They supported the Yen all the way through it and it was the difference maker for Japan. Look into it.

[00:21:49]:
It’s well documented. It’s pretty fascinating story. But again, good action, okay. Because again, you know, the market gets finished lower but not by a lot. And it was really what happened around equities that is most important because now we’re seeing rates beginning to fall. Right? This is, I would think this is the impact of Scott Besson. This is Scott Bessant doing his job. I think that he is well respected.

I know he is. He’s well respected. He is not Peter Navarro, he is not Michael Ludnick, okay? Compared to Besant, these Navarro and Ludnick are Viewed as like penny stock traders. Like they run penny stock brokerage firms. So that’s how people compare them, because they kind of just say what they got to say, you know, because they’re big, obviously, big Trump supporters. Navarro went to prison for Trump. Okay, didn’t have to, by the way, but he did. And Luckbank, of course, is one of big Trump’s biggest supporters as well.

[00:22:45]:
But, but, but Besson is a guy the Treasury Secretary is widely respected, and he brought calm to the whole situation. I was watching Bloomberg yesterday, an interview with him. Bloomberg has really upped their game, I got to tell you, and getting great interviews. They had Besson on yesterday, and he said a couple of things really interesting. He said that he and Powell had breakfast every morning. I mean, every week. And that this, this week’s breakfast was. I don’t know when it was exactly, but it was on, was an away game.

So he went to the Federal Reserve. I guess they alternate back and forth, right? And that just told the markets that, you know what, there’s an open line of communication. There’s a coalition built there. And that’s one of our problems. We’ve had this whole thing is it’s been us versus the world. That’s a hard battle for anyone, even if you’re Trump. It’s a hard battle to win. But again, let Trump be Trump.

I get it. He’s going to do it his way. But Besson’s been the difference maker here. And as I believe it was Jamie Dimon said today, Scott Besant should be negotiating all these trade deals. He should be the face of this, and he absolutely should. More Besant, we see the better, I think that the bond market, I don’t know. I think, I don’t think. I know.

[00:23:53]:
The bond market vigilantes got Trump’s attention. He already knew who they were. Obviously, Trump knows the bond market and debt markets as well as anybody alive today. And he understands when the bank puts their foot down, you got to acquiesce. You know, you don’t have a choice. They’ll crush you. And they were in the process of crushing Trump and the economy. That’s why yields were going up.

That’s why, at the same time, again, equities were going down. And we’ve covered that already. That’s why correlations were breaking. And I think that that may be behind us now. Now we have to see how much damage was done, because damage has been done. People are afraid. And I’m talking about people that matter. Okay? People say something’s changed now with the US Leadership role, those are just words.

I don’t believe that, frankly. And I think this can all be. The ship can be righted pretty quickly, but it should be righted. It’s important that it is because, you know, we want the world, the rest of the world to look at us and say, not they’re a sucker, I don’t mean that, but to look at us as, okay, they’re the stable ones, right? They’re the big dog. Right. They’re the superpower, not only in name but in stature. And so that’s what we want. We don’t want to be known as crazy, you know, gunslinger.

[00:25:04]:
So we really don’t. I don’t. It’s not good for everybody. But look, Trump’s going to be Trump. He’s going to negotiate this thing as he wants to. I just hope Besant is playing a leading role and we’ll see if we have to have another retest or capitulation. And we’ll see how the Mrs. Watanabes of today respond to that.

All right, let’s go take a look under the hood today. There might be one more thing. I’ll just say before I forget, I wrote this up this morning. If you haven’t had a chance to watch the Tucker Carlson interview with Congressman, former Congressman Kurt Weldon, I recommend you watch it. This is something that I’ve worked on actually was taking Tyler and Sam to 911 meetings when they were kids. When we’d have speakers come in or we’d fly out, we had them at our events and everything. We, we, you know, did WMI slash VRA events. We’ve all over the world did a ton of them over about an 8, 9 year period.

[00:26:00]:
My partner, rest in peace, Carl Bessie, and just one of the best times of my life, the whole family was involved. It was absolute blast big, you know, big events. Big, big for me. Five hundred to a thousand people, some a little bit bigger, some a little bit smaller. But I, Tucker Carlson last night broke an interview with former Congressman Kurt Weldon, who is a genuine American patriot who tried to bring all this to the public and just got shut down, got investigated. They went after him hard about 911 because as you, I’m sure, as everyone listening to this right now knows, we’ve been horribly lied to about 9 11. The story, the official story is an absolute lie. I know no one that believes that story anymore that I respect and trust.

All right? Now, they may not say it publicly, but you find somebody you know and talk to him in private. Everybody knows this is, this is, the story is complete bullshit. Now, I don’t know what the truth is. I don’t know that. And I have my suspicions, but what I know is that we’ve been lied to. Kurt Weldon knew that too. He was the insider’s insider. He was running some of these committees as a very powerful congressman.

[00:27:09]:
And then they attacked him, raided his home, threatened his wife. I mean, they came at him hard over, made up charges. But Weldon didn’t go away, you know, and, and again, Tucker interviewed him last night. Great interview. What I like about this, by the way, I. I spoke to Kurt Weldon two or three times in 2007, 2008. I was desperate to have him come speak at one of our events. I wanted him on the record, on camera, in front of our audience, repeating what he had told me and others privately, what happened to him and what was going on here with Abel Danger, which they knew, all of these hijackers they were following all around the country.

And then it just was shut down. Okay, so great guy. He wouldn’t speak in an event because frankly, he, he was a shell shock. I mean, they had just went after him so hard, tried to bankrupt him. Everything that the state can do when it really wants to get you, it’s going to get you. But the good news here, Tucker announced last night, this is the first. He’s doing a series of investigations, investigative reports on 9 11. Right.

[00:28:13]:
And so again, this is. We need time. It’s time. You know, disinfectant, right? Sunlight’s the best disinfectant. We need a lot of sunlight on this. I said this a long time ago. I’ve said this exactly in every book that I’ve written. This country and America, the world will not fully heal until the truth is known about, or at least close to the truth.

I don’t think we’ll ever know exactly the truth. It’s close to the truth is known about 9 11. That’s important because think about how that changed the world. Think about how that changed the world. Wars, money, I mean, everything, right? So anyway, kudos and thank you, Tucker Carlson and Congressman Welling. Great seeing you again. He is, he is as angry and pissed off and mad about it than he’s ever been. I don’t remember being that mad when I talked to him and he was mad then.

So I, I love that he has not lost his fire. And I think that’s gonna really. I think that’s gonna, that’s gonna motivate a lot of people to Want to dig into this Tucker Carlson? Go get him my man. Make sure you’re, make sure you, your security detail is, is, is, is got your back. These guys, these guys don’t mess around. Okay, let’s take a look at the hood today again. Like I say, kind of a quiet day. Poke all ratio by the way today was above except for the opening trade of 0.83 was above 1.

[00:29:32]:
Well now there are a couple of. Take that back. It closed at 1.01. This is not highly elevated but this is, you know we’ve seen several days now. But put call above one. That is not, that’s not. Capitulation is a form of like a soft capitulation because when more people are buying pussy calls the market typically goes up. Right? The market’s the ultimate contrarian under the hood today though the internals, there’s not a lot of reasons for a lot of time on this.

Very slight gains in advance decline for NYC and nasdaq. As far as the volume goes, NASDAQ volume was actually decent. It was 1.3 to 1 positive. NYSD volume was slightly negative and we had about what, 60 more. Stocks hit a 52 week low and 52 kai, the number I and I may have said this on the podcast yesterday that we had a huge number of stocks hitting 52 closed. That was incorrect. That was a bad report. Bad reporting.

[00:30:25]:
We use Market Watch and Barron’s and Wall Street Journal. I just happened to check one source because normally I don’t make time to check all of them. I just want to believe that the data is right and it wasn’t the advance. The two flows yesterday were far less than what we thought. That would have been a concern. Turns out not a concern at all sectors today. Seven sectors lower, four finish higher. Very little happening in either direction.

No reason to even spend any time on it. Commodity watch today again as I wrote this morning, you know, it just doesn’t matter. Golds at overbought. Golds at extreme overbought. The miners are extreme overbought. Silver nowhere near and it just doesn’t matter. Gold up another 6/10 of percent today. Up 20 bucks an ounce at 32.46.

What is that about 20 bucks below an all time high. Silver up a 4,10 1% at 32.30. I am very surprised silver has not blasted off here. I still fully expect that’s going to happen. Copper today was down 210 1% at 461 a pound. Crude oil just just hanging around, hanging around. 61.50 a barrel flat on the day and finally the day Bitcoin again just been a just been just been the Rock and Gibraltar here. It’s completely different trading pattern for bitcoin.

[00:31:35]:
We will be back in it soon this when we are it’ll be the third time we’ve owned bitcoin since Tyler and I first bought it at 601st time we and we recommended a few months later at 2000 and we will be back in it 83,900 right now again I don’t want to cause anyone pain investment wise but I really do believe at least some form of retest and some form of panic in the air to get more more retail investors to sell that is healthier long term doesn’t mean it’s got to happen.

And if they are the new Mrs. Watanabes hey, my hat is off to you. Keep kicking butt millennials, and we’ll. We’ll ride your coattails for a while. How about that? All right folks, that’s it for the day. Hope you had a great day. Maybe a better night. We’ll see you back here again tomorrow after the close It.