In today's episode, Kip dives into the current innovation revolution, the seismic shifts happening in the tech industry, and their impact on the economy. He also covers the implications of J Powell's FOMC press conference yesterday, alongside a look at Apple's earnings today and their massive $110 billion share buyback program.

Don’t look Back because the market is closed. Good Thursday afternoon, everyone. Kip Herriage here with the daily VRA investing podcast. Hope you had a great day today.

Apple’s earnings just hit the tape. We’ll talk about that largest share buyback program in history. This is the financial engineering that we’ve been talking to you about.

We featured in our book the big bribe. Just one example. These share buyback programs are only going to continue to grow. And then that’s one of about ten areas of financial engineering, both for companies and individuals that we’re focused on here that will continue to revolutionize our lives and certainly the investments that we make. Apple, by the way, just a quick read on this. I see that they missed. They barely beat on earnings. They missed on revenue, but the stock is up 6%.

They announced a share buyback program. If I’ve got this right, I have to double check this $110 billion share buyback program, the largest ever. Wow. I mean, my goodness, that’s a. Again, it follows a pattern that we’re seeing here. So we think that continues as well. Continues to grow. And remember, folks, we’ve yet to get to the stage in this bull market, and it’s only in the second year.

[00:01:18]:
Let’s keep the base case in mind, okay? This bull market is only in the second year, and we’ve yet to get to anything remotely close to a rip roaring IPO market. These happen in big bull markets. And everyone that I’ve seen, certainly in modern times, and we certainly got nowhere near mergers and acquisitions boom. Although I saw the pioneer resources deal, I believe was approved today, I’ve been all over the map today, folks. But again, we’ve yet to see any of the telltale signs that say this bull market is really starting to ramp up yet. We’ve seen the stock prices yet to see it in some of the outliers, the things, the signs that we look for. Again, we believe this is the next iteration, if you will, of the 1995 to 2000 dot bull market, the melt up bull market, which I was very actively involved in as a financial advisor and venture capitalist, 95 to 2000. And we’ve just not seen those signs yet.

[00:02:18]:
But they’re coming, okay? They are coming. And so again, we’re going to stay long and strong. When we start to see a lot of froth and euphoria, we’ll start taking some profits, maybe, but that’s, well, we’ll take profits along the way because that’s what our VR invested system helps us do. But to really take profits, to really get out of this market to raise a lot of cash. We are years and years away from this. If our work is right, we’re years and years away from this. Also, got some interesting research for you today that Tyler has been working on. On the fear in green index, the sentiment survey, if you’ve noticed, in the last month, have come plummeting down as the market had a very kind of casual 5% correction here.

S 500. Right. But yet these sentiment surveys have fallen from greed levels to fear levels. I’ve got some work on that for you as well. Really good internals today. Strong market today following Jay Powell’s and his very band of money printers, FOMC state yesterday and press conference. We’re going to cover all this versus get to the markets. Dow Jones pretty much close to the highest of day today.

[00:03:27]:
Dow Jones up 322 points. That’s up eight tenths to 1%. SV 100 up nine tenths of 1%. Roast 2000 up 1.8%. Good to see that. A week ago, as we told you, Russ 2000 hit extreme oversold, got close to, not really close, but within 3% of his 200 day moving average. Represented a great buying opportunity. Small cats are going to have a great rest of this year and 2025 as the market continues to broaden out.

Nasdaq, this is what you want to see. This is the gravy, right. This is the cherry on top. Here we go. Nasdaq up 1.5%. Boom. Right? Led the major indexes. Right, sorry.

[00:04:06]:
Roast 2000 actually led today. But the key point I’m trying to make here is that the semis today, after getting hit yesterday, today up 2.5%. Again leading Nasdaq up 1.5%, 5%. The semis lead. Nasdaq follows semi lead. Nasdaq leads the broad market. This is textbook. Again, Apple beat slightly.

I’m seeing some, some more reports come across the wire here. Apple with a slight beat. Stock now up 8% on the day. Of course, Apple’s been a horrible performer. I think there’s a lot of value in the stock. I think there are better tech plays. I think we’re actually in those plays. But again, if I, we didn’t already have great exposure to the market and great exposure to our AI, innovation revolution, tech names, and I love how we’re positioned there.

I would take a serious look, and we’ve evaluated it. I would take a serious look at Apple. But frankly, it almost strikes me now as more of a value stock because they’ve got so much cash. Right. And the stock is trading at the lowest, lowest multiple to book value that we’ve seen in a very long time. It makes it a great buy, I think. But unless they’ve got new innovation coming out, remember, they dropped the EV. They were going to be competing with Tesla.

[00:05:20]:
They announced this year. No, they’re not going to do that. So where’s their growth going to come from? You’ve got to think that all these brilliant PhD engineers working for them in a very, very NDA controlled environment are going to come up with something that is revolutionary. I believe that’s going to happen again. I think Apple does represent really good value here. It’s something we’ll keep an eye on. Okay, so I’m going to cover some things with you before we get to the internals that we cover with our folks this morning, because I think this is important. First of all, let’s talk about sentiment.

Let me just pull this up. I tweeted this out earlier, and I want to kind of. I kind of want to read it as I wrote it earlier today. Again, Tyler was telling me about the fear and greed index, one of the several sentiment surveys that we follow. This really isn’t a survey, by the way. This is based on a number of different data points that this index follows. And it’s now been in fear territory for 14 straight days. Now, that in and of itself may not be much, okay? But remember, we are just at green levels one month ago, okay? So now we plummeted to fear levels.

[00:06:41]:
Reading of 36 is where it is today. Actually lower. As dollar was telling me, it’s lower today than it was yesterday, even with this move higher. What’s interesting about this is that, again, this is happening even as we’re in just the second year of a powerful new bull market that we believe will ultimately rival the.com melt up as the strongest equity market bull market in us history. That’s been our forecast from October 2022. So it’s not new. Our base case. We’ve entered the innovation revolution.

You know this. You’ve been listening to us again. That’s our bit, our base case now from October 2022. And what kind of the new wrinkle here is, we’re just learning, is the largest tech companies in America have just, in the last two quarters, excuse me, in the last three quarters, have announced that they’re reinvesting more than $100 billion back into their own companies. That’s a record times five. So kind of a rule of thumb is that you never bet against the US economy or the stock market. When Las Vegas is booming. And if you’ve been to Vegas, you know it’s on fire, right? It’s the hottest, hottest state in the country, hottest state and city in the country.

[00:07:52]:
I’m sure this summer it’ll be the hottest temperature wise as well. It’s very hot in the summer, as you know. But never bet against the US economy and markets when Vegas is booming. And number two, never bet against a major, against the economy of the markets when there’s a major upgrade cycle happening in the tech industry. We have both of these. So again, this remarkably remains a contrarian viewpoint, which I’m stunned by because the research is right in front of you. If you consider yourself to be any kind of a futurist and you’d like to see what these tech companies are working on, the things we outlined in our book, the big bribe. Did you know that we’ve got some really exciting times ahead when it comes to this technological revolution that’s underway, the fourth industrial revolution that’s underway today.

And this is why these tech companies are reinvesting so much money back into their own businesses. And that filters throughout the economy because we’ve got a lot of new products, a lot of innovation, a lot of disruption coming. That disruption is going to force interest rates lower. We don’t need the Fed to do much. The market’s going to take care of it. They’ll wind up cutting the Fed funds rate because the markets will force them to. We saw a bit of that today. The Fed funds, with the ten year yield now back down below 4.6%, down to a 4.57% yield.

[00:09:16]:
We think that continues slower, again, not because the economy is weak necessarily, although I wouldn’t be surprised if tomorrow’s jobs are important week. Oh, by the way, I should tell you, I was, I was supposed to be on Fox Business today with Charles Payne, but they bumped me today. I probably had more important people on, but then they, they’re great folks. And, you know, we always love, I’ve been on the show a bunch of times, and I always loved, I love working with his producers. Charles, of course, is an amazing guy, but I’m going to be on tomorrow. So what? They’ve already covered topics and they wanted to get our top stock picks. We’ll have that on tomorrow. I’ll tell you what, those are top picks, as you’ll see me talk about tomorrow on the Fox business with the Charles Payne show.

Making money. The top picks, the three, I’ve actually talked about this on a podcast, I think, earlier this week. Are the semiconductors we use Soxl the three time semi ETF which we just added to our position. We’re already aggressively long, now we’re aggressively long with steroids and the semis because they lead everything. That again, as we talked about last week, they hit extreme oversold on steroids, on the verandas, the most oversold that they’ve been since the October 2022 bear market lows. And that’s why we added to our position aggressively. So that’s one of them. Second is bitcoin.

[00:10:35]:
I’ll share more with you on that a minute. If you’ve been listening at all, you know how much we love bitcoin. Been a fan for a long time. It’s been very good to us. And now we’re back being aggressive on bitcoin as well. And the third is Tesla. Again. Again, these are, these are, these are kind of go to ten baggers for us here, if you will, and we’ll hopefully get a chance to talk about that with Charles Payne tomorrow.

Those are the three kind of pounding the table as we did in our very letter this morning. But the bottom line of this fear and greed index is that these bearish sentiment readings are a true contrarian’s best friend. This is when people ask me, how do you beat the markets? How is it that you’re on the right side of the market when others are on the wrong side consistently? Kip, how do you do that? Well, number one, we have the viewer investing. I’ve done this 38 years. That’s number one. Number two, with the viewer investing system, of course, which is something that I built based on what I’ve learned from my mentors. Now, Todd and I work on together daily. And right now it’s eleven to twelve screens.

[00:11:36]:
Bullish. It’s never been this high. This is the highest it’s ever been. So again, this is when we feel very comfortable buying dips and backing up the truck on certain investments. Okay. Like the ones I just mentioned, but we’re contrarians. This is also the third big leg of our stool, if everybody’s bearish and they, look how fast we’ve talked about this over the last week. I feel like Tyler and I kind of nailed this FOMC statement and the J pal presser.

Tyler’s been all over this and we told you that we thought it was going to be a nothing burger and that Jay Powell would be dovish and that the markets would rally. Check, check, check. It was the best conference presser that Jay Powell has done since he’s had the job. He’s been fed chair since 2018. And this was, I think, the best, because he stuck to the script, right. He knew he was going to get questioned about, are you going to raise rates? And of course he’s not, right. That’s not going to happen. Not that he couldn’t.

[00:12:36]:
His economy, I think, is strong enough that he probably could. They’re not going to do that. They’ve been telegraphing lower rates for too long. They’re certainly not going to flip the script now and go to raising rates. And the other thing he addressed was, are we in stagflation? If you’re like me and you catch some of this stuff, I don’t watch much financial tv, but if you catch what everybody’s saying online, social media, etcetera, the new buzzwords in the financial arena had been stagflation. It’s actually one word, isn’t it? Stagflation. That’s the new hot catchphrase. Oh, we’re in stagflation.

And if you know what stagflation is, you know how laughable, I mean, seriously, you know how laughable a statement that that is and a proposition that that is. I covered this yesterday on our podcast. I want to just repeat what Jay Powell said, because he had this, he had to know he was going to be asked this. He teased up beautifully. Here’s what he said. I don’t understand where concerns about stagflation are coming from. Stagflation in the 1970s was 10% unemployment, stagnant. Right.

[00:13:46]:
High single digit inflation, that’s the inflation part. And slow growth, that’s stagflation. Today we have solid 3% growth and inflation under 3%. And then Jay Powell, with the line of the day, probably his best line he’s ever had as Fed chair. I don’t see the stag or deflation. Kudos, Mister Powell, right there with you. We’ve been very hyper critical of you because you’ve earned it, deserved it. The federal course, we should end the Fed, it’s not going to happen, but it should never have existed again.

1913, thank you very much. Right. Woodrow Wilson, worst president in the country’s history. Worse than Joe Biden, if you can believe it or not. But the IR’s was created, the income tax, I should say, was created. 16th amendment bogusly passed. Amazing history on that, I believe on either New Year’s Eve or Christmas Eve when nobody was around, and frankly, it didn’t even pass legally. So a lot of good research on that.

[00:14:46]:
But the Fed was created in 1913, the ability to tax Essex in the amendment passed in 1913. And the third, I’m not a real expert on this. I used to know a lot more about this. I don’t want to step in it too bad. But the, the way that our senators are elected used to be done at a very different level. It was done at the, at the, at the, at the, at the federal level instead of state level. They wanted people that really represented the state, but they wanted them there. And again, I’m going to, I’m going to refresh my memory on this and I’ll be better prepared.

But those three things took place in 1913 under Woodrow Wilson as president. Worst president in american history. The data proves that up as, even as bad as Biden may be, Wilson was worse. So again, we don’t have stagflation. Again, kudos to Jay Powell. It was a fantastic press conference. We are going to have rate cuts. Our forecast from January is unchanged.

[00:15:46]:
It is the federal cut rates two to three times in 2024. Going to be one or two, sure. But we’re going to stay with what we said then. And as I said for the, one of the few times, Powell was exactly right. Stay the course. Again, it was the best pressure that he’s done. And also we believe that we are going to see slowing economic employment data. I think that may start tomorrow.

I hate guessing on these monthly economic reports because I hate even looking at them, frankly. We look at trends. Of course, the trend has been for outstanding employment. But again, the data is very flawed. Again, these revisions have been consistently lower. So this has got to be something Jay Powell is aware of. Right. But the key point is this.

The lag effects from the Fed’s eleven rate hikes are about to start showing up in the data, something Ed Hyman has done a lot of work on. And the lag effect can take up to 18 months before they really start to impact it. But remember, we don’t really have inflation because of the Fed. We have inflation because of money printing. That’s Congress, that’s Trump and that’s Biden. The $9 trillion in government spending, of course, the Ada kiwi as well. There’s a lot more coming, folks. There’s still a lot of that in the pipeline.

[00:17:08]:
So we probably, they want to have elevated inflation because they want to be able to get rid of the debt by printing it away. This is something that Brian rich, one of our favorite market watchers, has done a lot of work on. And there is a, there is, there’s a, there’s a small sliver of an area there where we have just enough inflation, but not too much. We can actually print away at least some of our debt. This is what Powell is tempting to do. And again, and is Mary Band of bunny printers. Will it work? You know what? I’m old enough now to never say never. Just consider me skeptical and just know that the Fed should be ended.

That’s the bottom line. We’ll leave it there. But again, Powell did do a good job just to restate this, our bullish case, it’s important that people understand this. It’s unchanged. We’ve entered the fourth industrial revolution, what we’ve called for 20 months now, the innovation revolution. Not only will the economy remain strong, as in garlic strong, we’re looking for GDP growth of five, six, seven, 8% over many, many years. That’s what innovation, this level of innovation and disruption is going to do for the economy, for GDP growth, earnings growth, certainly. And all the things again, we outlined in the big bribe, corporate earnings and wages.

[00:18:33]:
Wages are going 4.2%. Productivity is growing at 3.7%. Folks, these are remarkably strong figures. And again, wages growing at a level higher than inflation, if you believe the official inflation data, of course, which who does, right? But it’s still good to see wages growing and consumers are keeping their head above water. Matter of fact, as we’ve outlined many times with you, consumers and american companies in the strongest financial shape in decades. But all of this combined has kept us aggressively along the market from October 13, October 14, I should say 2022. And it will keep us aggressively long stocks. We ain’t going nowhere.

Right? And I’m just going to make this point. I’ve made this point a bunch of times and I keep making it thinking that I’m going to try to get this in on Charles show tomorrow. I don’t understand how more people aren’t picking up on a couple of points. Number one, it’s just me. It’s not just me, is it? The markets are okay with higher rates, are they not? The SV 100 is up 30% from the time that that was supposed to cut rates over a year ago. So the market clearly is sending a signal that they’re okay with higher rates. I mean, the proof’s in the pudding right here, at least as it comes to the stock market. And remember, during the.com melt up again, the period we believe is most similar to where we are now with the innovation revolution.

[00:20:03]:
The average on the ten year yield was better than 6% from 1995 to 2000, with spikes over 7%. Yet we had our strongest bull market in history. I don’t hear people making that point, do you? That’s why we’re going to keep making it. But the reason more than anything, frankly, in addition to the innovation revolution and the disruption that will keep rates moving lower, that’s what disruption innovation does. It brings down the cost of the things we have to buy. And so again, that’s of course, their biggest concern, the Fed is inflation. So innovation revolution is going to handle that to some degree. That’s a process.

But remember, we believe that gravity is really what’s going to keep us rates from going higher. Global institutional money flows plus central bank direction control interest rates, right? So all the big money, plus central bank policy controls interest rates. So, as I’ve said many times, and again, I only repeat this because no one else is saying it, and it’s like a common sense thing that drives me crazy that other people. I’m going to try to work this again on Charles’s show tomorrow, because if you’re a global institution or a corporation of any size, you’re reinvesting, you’re putting your savings to work, right? You want to have it in a safe vehicle. So for your pension account, certainly for your liquid funds, you want to keep it safe and secure. What would you rather invest in? US ten year debt yielding 4.6% just below that now, or german ten year debt yielding 2.5%? Folks, it’s almost 100% better return to buy. Us debt versus german debt? German of course, I focus on Germany because it’s the strongest and most important economy and country in the EU. So, you know, what would you really get? 4.6 or 2.58? What would you rather get us debt again yielding just under 4.6%, or japanese ten year debt yielding 0%? Because that’s where Japan’s ten year yield is.

[00:22:13]:
So again, it’s this flow of funds, global demand for higher yielding us debt with the safety and security also the United States, that will continue to act as gravity. The demand coming in, acting as gravity, buying us debt will keep a lid on us rates. I think it’s an important point. Again, I am very surprised that we don’t hear more people talking about this. We’re pounding the table again on bitcoin, Tesla, semiconductors. This is where we’ve been focused on here. And I got to mention this today also. Okay? As you know, again, if you’re listening at all, if you’re obviously, if you’re with us, the VRA, you know that we’re big fans of bitcoin, right? Have been for a long time.

It’s been very good to us. Bitcoin’s had a sell off, hasn’t it? We had a high of what, almost 74,000 hit a low of 56,000 to change. What is that 20% shakeout, right. If you bid a bitcoin at all, you know how common these are. We’re right now back to 59,000. Okay. But still not that far off the lows. But bitcoin, the story really has, for me, the story has always been from an investment point of view.

[00:23:22]:
It’s a supply and demand story. And again, I like common sense, simple stories. As a simple texan, this, these are the things that work for me. And this is the biggest reason we own bitcoin, frankly, is again, there’s. In my lifetime, in my career, there’s never been a better supply demand setup than bitcoin has. As you know by now, obviously, nobody knows this. They’re only going to mine a total of 21 million bitcoin. They’re what, 19.719.8 million that already been mined now.

So we only have like, what is that? Just a five, 6% left to go before it’s all mine. That’s gonna take a long time to do that. But the having is continue to make it more and more difficult. Of course, they tap in every four years. So it’s a supply and demand story. So we know the supply side is limited, right? The scarcity value. But it’s the demand side that is fascinating. And we got, we talked about this ad nauseam.

[00:24:20]:
We know where the demand is coming from. We know where it’s going to come from. It’s going to, in the US and globally, from institutions that have, in financial firms that have yet to approve the ability to buy either bitcoin or these new ETF’s that the SEC approves in January. Like 70% to 80% of all us investment firms have yet to authorize the purchase of bitcoin ETF’s. And they already didn’t allow the purchase of bitcoin itself. But that process is going, it’s happening. It’s going through compliance review, the attorneys making their big bucks, and getting all this other language approved, and all the stress to the brokers and financial advisors that will be selling this. They want most of these orders to be unsolicited.

And that’s how some firms are already doing it now. But this morning we found out Blackrock, okay, of course, Blackrock has their own they’re the leading largest buyer as having their own bitcoin ETF. So yeah, they are biased. But BlackRock this morning came out with a piece that says they see sovereign wealth funds and pensions buying bitcoin. This is a quote from Blackrock. Don’t be fooled. This is from their head of digital assets for BlackRock, the world’s largest asset management company. Don’t be fooled by the first break in inflows into spot bitcoin exchange traded ETF’s after 71 straight days of positive inflows.

[00:25:49]:
Don’t be fooled by the law. The current law is likely to be followed by a new wave of buying from a different type of investor. That different type of investor, sovereign wealth funds and pensions. So just imagine again, the demand side of this is going to get crazy, folks. It’s going to get absolutely insane. So buying it here, this is why these dips are viewed as only a gift. These are a gift right? Now, look, with any investment, there’s no slam dunk, there’s no guarantee. I don’t want to give that impression because it’s not the case.

But that’s why we diversify, right? You know, we keep, you know, 5% in gold, 5% in bitcoin, maybe a little bit more if you’re us. But again, these are, these, these works very well, have they not? So as long as you’re properly diversified, you can, if something were to happen, bitcoin loses half its value, you know, the rest of your portfolio picks up the slack. And I do know some people that have 100% of their money in bitcoin. Hey, my hats off to you. Like you’re a gunslinger. I’m a gunslinger. I don’t. I haven’t gone that strong, but I’m proud of you.

I’m buying, by the way, way over 5% in bitcoin and gold. But, uh, that’s just me speaking personally here. Okay, uh, go. I’ve always used gold to say, as my savings account. That’s how I saved. I don’t save in fiat currency. Why would you? You know, uh. And I know most people do because they just don’t have it been educated in a better way to say, because gold has been not only the best store of value, the best inflation beating asset of all time, but now it’s obviously starting to actually appreciate.

[00:27:29]:
So we’re getting some nice gains on our coins as well. Silver doing the same thing. But again, back to bitcoin, the demand side. Once we start to see this happen, and we see us investment firms european investment firms, asian investment firms goes. Hong Kong just approved the purchase of bitcoin. ETF’s that have been side there has been a little disappointing. That’s primarily because the, the mainland chinese money has yet to come in. It will, trust me when I tell you it’s going to, and it’s going to be massive.

But if Blackrock is right, and I think they are sovereign wealth funds. Right. Norway, the world’s largest sovereign wealth fund, $1.5 trillion in assets. Saudi Arabia, cyber wealth fund, not that far behind it. Right. And maybe even if the truth is told, larger than when they start buying bitcoin, just, katie, bar the door. Look out. You know, 100,000, which is our minimum year end target for bitcoin has been for some time.

[00:28:30]:
It will be, that’ll be a support level. Right. I’ve said it before, I’ll say it again. I’ll wrap with this. When bitcoin’s a million now we’ll, we’ll trade it. We have once before got in and out. We’re back in now. And I’m sure we’ll do it again when it gets extreme overbought and there’s a reason to sell.

But I got to tell you the truth, I think that’s a long ways off. I really do. And I still believe the quote that I’ve, that I’ve said here many times. I’ll say it again today, when bitcoin is $1 million of bitcoin, we’ll still be recommending it and I’ll still be buying it personally. Now, I won’t be buying a single coin. Right. That’s a great thing. You can buy any amounts you want to in fractional ownership of bitcoin.

[00:29:12]:
You know, you can buy $10 of bitcoin if you want to. But the key point here is that I will be recommending and buying bitcoin when it hits a million because it’s just going to go a lot higher unless something goofy happens. And you always have to hold out in case. That’s the case. Right. All right, let’s get into the eternals here again. Good readings today. Very strong.

Advanced decline NYSE 3.6 to one positive. That’s what you want to see on a strong day right there. Nasdaq better than two to one positive. Advanced decline up volume NYSE 75.1% Nasdaq 71%. These are good readings. Not great, but very, very good readings. And advanced decline positive by just a very, very quiet day here, frankly. 157 stocks and 52 high to 126 hitting a new 52 week low in our sector watch today.

[00:30:06]:
Another good day here. Nine of eleven sectors finish high on the day. Led to the upside by technology again, semis leading the way, of course, up 1.6%. Consumer discretionary one and a half percent. A lot of, a lot of groups above 1%. To the downside, not much to speak of at all. Materials down a half percent. That is about it.

In our commodity watch today. Again, gold has been red hot. It’s taking a little bit of a breather. The dollar has been strong, rates have been sticky. But gold, this is a buying opportunity on this, I just hate to say, I always hate to say this, but I’m going to say it. Trust me when I tell you that gold is a buy here. It’s broken out of long term charts. So many bullish technical formations that are flashing buy signals for gold.

[00:30:54]:
Bottom line is it’s broken out and it’s a buy on pullback. Central banks, this will be the third year in a row. The central banks, the smart money of smart money, right? Third year in a row, central banks have bought the most gold in history. So back to back to back years, based on where they’re going now, I can’t imagine that not being the case. Gold today up $2.40 an ounce at 23.13. Of course, it’s down from the high of, what was it, 24 and change. Silver today also higher by $0.17 an ounce at 26.92. Copper today a down four cents a pound at four hundred fifty.

Which copper? Doctor copper has been red hot, sending very strong global economic growth signals. That’s what doctor copper does. That matches with what we’re seeing and hearing and what we’re seeing in the VR investing system. China red hot today, folks. We’ve been pounding the table on chinese tech. We own k web, right? That’s one of our innovation revolution holdings. K web is the China Internet eTF. And we are very long.

[00:31:59]:
Today was up 8.5%, folks, finally breaking out. Last week we had a breath thrust in the hang sing market again. Chinese tech stocks are trading at 20 to 30 year lows, valuations based on earnings. Okay? And there’s a lot of cash that’s been built up here. This market is ready to go. So we’re rooting for chinese tech stock for sure. And again, that’s, that’s global growth. It’s happening, okay, following us markets and that’s the way this works.

Also, crude oil today up eight cents a barrel at 7908. Been a little weak here, the seasonal thing more than anything. We love energy stocks right here, right now. And we have for some time. Finally, bitcoin. I’ve already covered it. I’ll give you a last quote. It is now, as I speak, just under 59,050 8997.

That’s about right. At 1700 of bitcoin on the day. And that’s up 4% again by this dip. We forget about, we recommend forgetting about short term fluctuations here and be a hodler. Be a buyer and a hodler on weakness. All right, folks, that’s it for the day. Hope you had a great day and even better night. We’ll see you back here again tomorrow after the close.