In today's episode, Kip dives into an eventful day in the market. From new all-time highs in Gold to earnings reports from major tech companies like Google and AMD, there's plenty to unpack. We'll explore the latest market movements, including a mixed day for the Dow, Nasdaq, and S&P 500. Kip also breaks down the bullish signs in tech and semiconductors, seasonal factors, and the potential impact of the upcoming presidential election.

Don’t look back till the market is closed. Good Tuesday afternoon everyone. Kip Herriage here with the daily VRA Investing podcast. Hope you had a good day today. Depending on what you own today, you had a good day. Matter of fact there were a lot of good things that happened today. If you’re paying attention like we have, like we’ve been, we’re pretty locked in here folks because we got all time highs again today in gold Bitcoin as we share with you. Last week bitcoin broke out of resistance to 67,000.

Came within $200 of hitting an all time high today. Just been a house on fire, up about 4% today. Got earnings after the close today from Google and AMD. And what else? Markets are front running. Two things. Markets are front running. We’re now in the best quarter, the best three months of the year. November, we’re there right? November, December and January.

[00:00:55]:
Best three months of the year. And the markets are front running when Donald J. Trump becoming president again. So let’s get right to it. First of all the markets bifurcated. Dow Jones down 154 points today. That’s down 310 of 1%. Nasdaq up 710 of 1%, up a big 145 points.

S & P 500 essentially flat on the day up just a fraction. And Russ 2000 a day down 3/10 of 1%. Most of the action today again was in tech and semis. That’s what we’ve been pounding the table on. As you know, we think these charts look fantastic. But again it’s what do you own? You gotta own the right stuff, you know, you gotta own the right chip stocks. Today Google again, remember last week we had the first magnificent seven tech stock that reported that was Tesla hedge funds, the largest short position going into Tesla’s report, guess what was Tesla. And so they were on the hedge funds on the wrong side, which they typically are when they’re in a majority with each other.

And they were on this one. Tesla screamed higher 27 last week. So that was the first stock to announce today. We got the second and that was Google Alphabet announced after the close today. There was a beat both on top and bottom line. Last trade in the Stock is up now 7% on the day. So that’s a good beat from Google. Good to see.

But then again, then again, you know we’ve got the chip stocks reporting this week as well. Today is Advanced Micro. On Thursday we got Intel. Now intel we haven’t cared about for a long time. Been Nothing but a disappointment. We try not to buy anything that owns intel, however. Amd, Advanced Micro, different story. Advanced Micro is number two in the chip business to guess who.

[00:02:42]:
Nvidia. And so these numbers today probably indicate they will remain number two. As big and successful as this company is, they came out today with basically in line numbers. That’s the best you can say. And again, the stock’s down in the news right now, down three and a half percent on amd. But still the semis did lead higher today. That’s what we want to see. The smh, the semi ETF today.

Even with this Advanced Micro report built into it, the semi still finished up 1.4%. Again NASDAQ up 8, 10, 1%. That’s textbook folks. That’s what you want to see. Semi lead tech. Tech leads the broad market. That’s exactly what happened today. Again, we had a, as Tyler Cubs yesterday.

We had a very good day yesterday with, with, with excellent internals. Now they weren’t as. But again, this is a lot of nervousness still in the market. Even though we’re at all time highs. There’s a lot of people still very nervous about this election. Hard to blame them for that. It’s still pretty much every person we talked to says the same thing. Yeah, in an honest election, Trump will win on a landslide.

[00:03:49]:
But we don’t have honest elections anymore. So will he win? That’s the question. We’re just gonna have to wait and see. The theme has been too big to ring, which means everybody’s get out, gotta get out and vote. And this might be an election, by the way, where the popular vote actually does matter. It’s been a while since Republicans won the popular vote. All right, yeah, let’s, let’s, let’s go right to the internals. I want to spend a little time today on Bitcoin and also there’s some powerful analytics that if Trump should win.

Tyler covered this yesterday. I’ll repeat that again today as well. Good stuff though. Again, assuming that Trump wins this thing, what a horrible candidate. Kara says, right? I mean, my goodness, the fact that we’re even talking about this being even somewhat of a close election tells you the wrong track this country is on with our principles and with our, with our morals. Frankly today. Vance decline was a slightly negative for Nasdaq by about 300 issues. About 2 to 1.

[00:04:53]:
Negative for NYSE on advanced decline volume today. Different picture volume for NASDAQ today was positive by 1.5 to 1. Volume on NYSE was negative by close to 2 to 1. So not great internals today however, we did have about 40 more stocks hitting a 52 week high. They hit a 52 week low. Again, that is not, that number has not been a negative print from the August 5 lows. We are seeing without question broadening is taking place in this market. There’s no doubt about it.

And by the way, if anyone tells you that’s anything other than bullish, then they’re wrong. And you know you’re talking to somebody that doesn’t know what they’re talking about. The broadening of this market has been significant. The rallies are moving from one group to the next. That’s what bull markets tend to do. And again that’s a very bullish sign as we go into the most important week. This is the most important week of the year, certainly the most important week for the fourth quarter with Q3 Tech earnings coming from the Magnificent Seven. So looking for again we got all those coming up this week.

I’m sure you’ve heard the numbers by now, the names by now. But tomorrow after the close we’re going to get Microsoft and Meta. On Wednesday after the close we’ll get Apple and excuse me, apologies. Yeah, tomorrow Microsoft and Meta. Then Thursday we get Apple and Amazon. So Nvidia, in case you’re wondering does not announce until November 20th. Don’t know why they’re so late. They always have been but they just are.

[00:06:27]:
But again we think the lows are in. This is going to be, I mean I was on Charles Payne show yesterday. We’ve been saying this, it’s not going to be a new call for you that we believe we’re going to have a melt up bull market. I, I, I, I still see that. I believe Tyler does too. The charts say it, the action, the stocks say it. The fact that we are now in the again the most bullish months of the year like starts officially on Thursday but and then also I was just going and give you the, the Trump data should Trump win. What everybody’s talking about now is what happened after Trump went and won in 2016 because it was a very special time for the next year and a quarter by the end of 2017 after Trump won.

So give him like I say, 14 months in office. The SB 500 was up 29% and the NASDAQ was up 39.4%. So this is what people are looking at. This is the Trump fueled rally. The Trump rally, no doubt about it. And again same time we’ve had very bullish seasonality here and we have it for bitcoin as well. Again we’ve been pounding the table on bitcoin for some time. Last trade here, 72,424 again seasonality.

This is the time to own bitcoin for two reasons. Number one, this time of year is extraordinarily bullish for bitcoin. Number one. Number two, again they’re just coming out of their having. They have the stock have the. They have bitcoin again in April. This is the fourth halving and again the returns after each having specifically after the first six months and then where we are now, right, this is an extraordinarily bullish time to own bitcoin. They broke out of $67,000 resistance that then made it support and now, now this is a freight train again today hit a high of 73,500.

[00:08:20]:
Just a couple hundred dollars of bitcoin away from an all time high. We repeat our end of year target is filled in place of 100,000. And our two year two to four year cycle high estimate is 250,000. And we could very easily be low on both of these. There is no better supply demand story than bitcoin. It is the supply demand story of our times. Probably of all investment times. Again 21 million Bitcoin, that’s all will ever be printed or be have minted if you will.

And that means this, that means that every, that means these dips are absolutely buying opportunities. All right, let’s take a look at our sector watch today. We had not. This was not pretty either by the way. Sectors, where are you? There you are now. Not pretty here. Nine of 11 sectors finished lower in the day. Not a whole lot happening though really.

Communication services up 1.5% today. That Google report is going to help that tomorrow probably as Tyler just told me in a pre podcast meeting. That should give us another all time high in communication services. Technology also up again. Leading today up 1.2%. To the downside. Utilities down 2% and energy down 1.4%. And our commodity watch today again all time high.

[00:09:40]:
What’s more in gold just again a house on fire, $31 an ounce today 2787. Our end of year targets $3,000 an ounce. That has been the case for some time. We’re probably gonna be on the low side. There’s no reason gold shouldn’t just keep going higher. All of the ingredients are in place for gold to have a massive move. What we’ve called the bull market of bull markets for this group. Gold up 1.1% today.

Silver up a big 1.8% today to 3463. Silver also looks fantastic on the charts again they got a little overbought and now they’ve worked off some of the overbought readings so now frankly they’re ready to go again and that’s probably the case for the miners as well. Again we’ve been patting the table on the miners but they did hit extreme overbought levels about eight days ago. That’s when we paused our buying. But you know the charts look extraordinarily good. Just depends on what your timetable is. Right. But definitely want to be long and strong.

The miners along with physical gold and silver copper today flat on the day at 436 a pound. Crude oil today not trading great is it? Up 10 cents a barrel 67.48 and finally the day again Bitcoin last trade 72,452. All right folks, that’s it for today. Hope you had a great day in a bitter night. We’ll see you back here again tomorrow after the close.