In today's episode, Kip covers the VRA base case for a generational bull market which remains fully intact. Kip also takes a deep dive into the bustling activity in the mergers and acquisitions market, and what financial engineering really looks like. Get ready to challenge the gloom and doom propagated by the permabears.

Don’t look back. The market is closed. Good. Monday afternoon, everyone Kip Herriage here with you for today’s VRA Investing podcast. Hope you had a good day today. Hope your weekend was fantastic as well.

Got some big things to tell you today, especially if you’re kind of a nerd about the markets like we are. I mean, we try to be cool cats, you know, we try to, we try to not be too attached to the analysis paralysis, if you will, because frankly, that’s where a lot of people go wrong.

A lot of people get very, again, analysis paralysis. I can’t say any better than that. And they just dive too deep on things that, frankly, don’t matter. Esoteric, by the way, that describes a lot of these permavirs, in addition to them not really being investors. We covered this often. It’s been a while, though, right? I got to say it again, perma bears sound so smart. You see these folks online, on social media, on the Internet, and they’re always blasting bulls or making it, they’re making things sound so horrible. It’s like, how stupid are you? Can you not see that everything, the world’s about to end, everything is about to crash.

[00:01:14]:
And then they have these, like, zero hedge. Of course, there’s a website that’s famous for it, many others as well. But zero hedge is probably the biggest and best known for this. And they’re not as perma bearish as they used to be. I think they kind of got found out, but they still are primarily very bearish. So take, they’ll find a sliver or something that is bad news in the context of a larger economic report, what have you, and then they’ll focus on that, and all of a sudden it’ll be, this is the worst thing that’s happened since the crash of 1929. And so, but the point is, what they’re saying really sounds smart. The bears always, this is a problem.

This is always a problem for bulls, to tell you the truth, because the bears always sound so smart, don’t they? Their data is so compelling, it’s so negative, and it plays to our worst fears and our worst, you know, our worst instincts. Right? So it works because fear sells, and they know that it does. And so this, they really kind of extrapolate this negative data out. And if you read this, you’re like, oh, my God. Not only I’m not going to buy anything, I’m going to sell everything I own and I’m going to go 100% short the market. And so unfortunately, that’s really, it’s really explains a lot of people today that are just scared to death about doing anything. And it’s because some of this data that they’re getting, which is there might be a bit of truth to it, but the larger truth is what we’ve been covering here with some time. This is a structural bull market of size and scope.

[00:02:49]:
This is incredibly healthy bull market, incredibly healthy economy. Yet two Americans get it right. One America is struggling, yeah. But the other America, the one that matters, is thriving, and that just happens to be fact. So. But this negativity that is pervasive out there, and of course, these perma bears, remember, they’re not even investors. Not, I’d say, 80% to 90% of these people that you see online, they are not even investors. Right.

They know fear sales, and so they use clickbait to get people to sign up for their list, and then they monetize those lists. All the emails, you start getting all the same emails. If you wonder where those are coming from, a lot of them are coming from those sites to capture your data because you happen to visit and read the negative articles. So that’s just the reality of it. And that’s their business. I mean, that’s how they build their business. So I don’t fault anybody for building a business, but just as long as you know the truth about it, right? So today we got some information. I’m going to start with this today.

[00:03:51]:
Got a lot of good things to cover today, but we just ran these numbers to the close here. Want to report this right away. So, first of all, and we were telling you this back at the end of March, okay? At the end of March, we got to 85.6% of the s and P 500 being above the 50 day moving average right now, that’s extended. But as we told you then, we only get really concerned when that number is better than 90%. Really 92%. As a classic sell signal, it’s a classic take profit signal. We didn’t get there. So today, guess where it is.

Right again, March 28 percent above the 50 day moving average was 85.6. Today, it’s 49%. Talk about being oversold. Right. Also above the 200 day moving average, we got to 86. Even higher. We got to 86.2% at the end of March. Today, it’s down to 74%.

[00:04:50]:
So it makes sense that the percent above the 200 day is more elevated than the 50 day. But I’m telling you, based on our readings of this, and again, as you know, we’ve been pretty fairly vocal about our bullish views here for some time. This is a textbook shakeout. It’s been a textbook shakeout in an otherwise powerful bull market only in the second year. And again, it continues to be led by the semis tech that happened again today. Semis just rip roaring higher. So, as we’ve said for a long time, the smartest smart money strategies have been by the dip. We believe that continues to be in place and it will continue to be in place.

The money in this market is to be made on the upside. The money in this market will continue to be made on the upside. This is going to be an historic bull market. Before this is all said and done, this setup is better than 95 to 2000. I’m telling you. Look, I took two companies public from 95 to 2000. They weren’t my companies. But from investment banker point of view to two companies public, I managed $100 million.

[00:05:58]:
That bull market started happening and nobody could understand it because.com seemed like hopium, it seemed like air. And frankly, at the end of the day, it was. But these stocks started going crazy. And that’s because there was so much liquidity in the system. And that’s ultimately supply and demand is what drives markets. And so money was piling into these.com stocks and again, 90% of those wound up going out of business within five, six years. But now the whole.com setup has come full circle. Now we are here 25 years after that.

And now all those companies that were just in their genesis, just being formed in the ones that survived, now they’re real. Now they’re 1 trillion, $2 trillion companies with earnings that are just growing. You’ve seen the reports, Google, look at all these earnings reports. Companies are growing earnings by 20%, earnings by 20%, growing revenue by 30, 35%. This is almost unheard of because that we are, we are in the next build out cycle for tech. This is the one time you do not want to be short stocks. This is, you do not want to be short the economy and you don’t want to be short stocks in this environment. That’s the first thing I want to report, the percent above 5200 day.

[00:07:20]:
Tyler just pointed out to me, this is crazy. The put call ratios today, right? Unless there’s some kind of a flaw in this data, and I don’t believe there is, because the NyCBoe, excuse me, has been reporting this all day long today. So we have, again, they report this data every 30 minutes. So there’s no way they would have left these links up if this is the case. First of all, the total put call ratio today traded as high today is 1.94. Right. That was an hour after the open, and it was above 1.3 all day. And it closed at 1.31.

To give you an idea, like 0.71. Tyler has these percentages. Better, down better than I do. But it’s something like 0.71 is the average put call ratio. Today. It was almost double that. Close to 1.31. And then check this out.

The equity only put call ratio, he had a high to this morning of 2.362.36. This is. This is shockingly high. Okay. And it closed at a 1.37. Bottom line, if you don’t follow this stuff very closely, I’ll just put it in. I’ll put it in the lamest terms. Holy Batman.

[00:08:37]:
Holy contrarian. What is the best way to say this? Holy put call ratio, Batman? Because if you’re a contrarian, you are salivating. You’re salivating at these numbers. This is. This is unbelievable. And that’s. Again, that’s what we want is contrary. We want everybody buying puts.

We want the public loading up on puts, because when they’re buying puts like this, that’s. That’s. You just don’t get a bigger buy short term. You do not get a bigger short term buy signal than this right here. So we’ll have to see how it plays out. Maybe it’s a one day wonderful. I don’t think so. I can’t imagine.

I cannot imagine why this many people are buying puts. I mean, I know there’s some concern. There is some new geopolitical concern about what’s going to happen with Israel. First of all, they turned Gaza into a parking lot. Now it looks like they’re going to Rafa. It’s like they’re going to. The same approach is starting there. And I’m not making a call.

[00:09:36]:
I’m staying in my la on this. I know that. I think that mass murder of women and children is always bad. I think that’s a fairly safe statement. At least I believe it is. I think genocide is bad. So I won’t go beyond that. But maybe that’s what people are thinking.

But we didn’t see it in oil prices today. I just don’t think that’s it. Let me just pull. Make sure I got that right. Crude oil today? Yeah, it was up a half a buck a barrel. So we’re not seeing it there. We didn’t see a major spike higher in gold. Gold was at $25 an ounce.

So that’s not. I mean, gold was up $100 an ounce and you’re going, okay, well, that could be tied to that. So no, I don’t believe this high put call ratio is tied to that. And again, we had a great market today that just continued to build closer to the highs of day today across the board. So again, this is very good data that confirms the shakeout we just had. Was that most likely a shakeout again by the dip? The smartest, smart new strategies. And then again, this procall information is just as you can tell, I’m stunned by this. On a day like this, why the entire day? To have this many people buying puts for the entire day.

[00:10:53]:
Okay. Anyway, let’s cover the markets first. Across the board, higher today at the highs of the day. Just what you want to see if you’re bullish as we are, Dow Jones today finishing up 176 points. That’s up half percent. SF hundred up a full 1%. Really good day here, folks. Rose 2000 at 1.2%.

Small caps again, if we’re not going into recession and we’re not, if we’re not going into recession and if rates are going lower, and they are, small caps are about to be a rocket ship higher. Okay. There’s, remember, trading at 30 year low valuations to their big cap brethren. Small caps are a slam dunk. Here we are, we are well positioned with small caps. They’ve been, again, two year bear market essentially. Right? So this group’s ready to go. It’s not that much different from China and China tech.

You know, we’ve been patting the table on K web here at the VRA. I was on Charles Payne show on Friday on Fox Business, and we talked about this. You know, obviously we love the semis, we love tech, and we love China, China tech stocks specifically. And that’s Kweb, which is the ETF that we have exposure to here. And again, these small caps are kind of a similar story to what’s happening in China because chinese markets did nothing go down for two years. That’s essentially what small caps have done here. And now, again, our thesis is here. Our base case is that this is a birth of a new bull market.

[00:12:21]:
It’s going to continue to broaden. This is going to get crazy, folks. We’ve been saying this for 20 months. All right, I’m going to just repeat it for your folks. This is going to get crazy before it’s all over. This is that bull market. This goes beyond, I’ve been writing generational bull market. This goes beyond that.

This is going to be better than 95 to 2000. It’s going to last longer. And that’s the key. I don’t know if we’re going to have these bursts of single years where Nasdaq’s up 50% to 100%. I think we’re going to have. It’s going to be much longer and much healthier in nature. I think. I do think it goes beyond, we said a bull market into 2030.

That’s what we wrote in the big bribe. I think it goes beyond that. I think it goes beyond that. I think this is a market that’s going to surprise people to the upside for a really long time. And I guess I do think we’re going to have spurts that are really big. And I think this is going to be one of those years again. I kind of week, week nodded this on Charles show on Friday. Of course, here in our podcast and written in the Vera letter, we’re much more open about our conspiracy theory.

[00:13:29]:
And again, I just have to. I gotta repeat this, because I love. I love saying it because I know. I know my audience. I know this is a friendly audience. Because you’re smart money. We are the smart money. Right? We are the smart money because we are conspiracy theorists.

We love wearing our tinfoil hats because we love being right. And since 911, only the conspiracy theorists have been right. Everybody else had been consistently right. Everybody else has been consistently wrong. And of course, the CIA created that phrase, conspiracy theory. Conspiracy theorists, that’s how they make you feel stupid. But they created it because they know it’s the truth, and they had to come up with something to debunk the truth. I mean, how twisted is that? But the point being, we have been right because we’re fact finders and we do our research and due diligence.

[00:14:20]:
And we, if you’re like me and I know we have a lot of folks here that are with us every day. They’re veterans, right? You’ve been around the block, you know, and you’ve seen it all, right? And so when you’ve seen it all, you get a bullshit detector that starts going off, you know? And you know the signs, like whenever. Whenever the uniparty is all in favor of something, don’t walk, but run away from that, right? There are certain telltale signs. Mainstream media, if they’re all backing one side of a story, you know, with near 100% certainty that the other side of that story is wrong, is correct. This is exactly what so many of us did when the pandemic started, right? When the media went from zero to 100 miles an hour to this is the worst thing since the spanish flu. Right? When they went from zero to that and they were telling us that masks would help us, the cloth mask would help stop the infections. And then, of course, these vaccines that had not gone through FDA protocol and testing at all, which typically lasts eight to twelve years, these things were approved in just a few months. So a thinking person at least saw the red flags, right? At least said, okay, something seems to be up here.

[00:15:40]:
Let me dig a little further. And that, I’m telling you, folks, that is what’s going on with this market as well. Because again, you get so many people that are so hyper bearish about stocks. It’s not that we don’t get it. We get it with Tyler. Cover this on Friday, his podcast. Really well, he’s got this stuff nailed. We had three bear markets in five years.

Starting in 2018. The average stock lost 40% to 50% plus of its value in each of those bear markets. That is brutal. It’s unprecedented. It’s not that we don’t understand why people would be bearish. And again, trust me, folks, the people we talked to earlier long, even though they know how bullish we’ve been and how right we’ve been to be so bullish, they still are very hesitant. A lot of people still do not want to touch this market. I’m just telling you, that’s how, that’s how the biggest bull markets are born out of this innate and overt bearishness.

This is how bull markets are born of massive size and scope. So, yeah, I think this is going to get crazy. And again, going back to my playbook, 95 to 2000, we haven’t even gotten to the point where IPO markets hot yet. We haven’t even gotten to the point where mergers and acquisitions have started to really, now it is starting. And we are seeing financial engineering, another one of our big megatrends. Financial engineering is really starting to pick up steam. We saw it again last week in Apple’s $110 billion share repurchase program, the largest in history. Again this year.

[00:17:12]:
I think I got to check my math. I believe committed this year is something like $700 billion in share repurchase program. That’s going to be another record mergers and acquisition activity. I don’t think it’s even approaching what our record is. But the financial engineering side of the equation is starting to pick up. But we haven’t seen the hot ipos. We have not seen the hot emergers and acquisition activity. Certainly IPO market has been dead.

But the share buybacks are picking up steam. So we’re starting to see signs of what I’m talking about here. But we haven’t got to the point where droves and drove people in big numbers are quitting their job to become day traders. That hasn’t happened. Have you gotten into an Uber, a lyft, or a taxi and had your driver start giving you hot stock tips? I mean, this was all happening in 95 to 2000, and this is what we were all talking about. Okay, all right. And this is when I left Wall street. All those signs were there.

[00:18:08]:
My mentor at Oppenheimer, Michael Metz, told me about a year before I left, a year before I retired at 38, told me about a year before then. He said, hey, you should reread extraordinary popular delusions in the madness of crowds. I’m like, that book is like 800 pages long. Why would I want to do that? And I never really read it in the first place. I’d skim through it. I was like, oh, this is interesting. In bubble mania, tulip mania, all the different manias going back, you know, a couple hundred, 300 years. And so I did.

I went back and read it and I’m like, okay, Michael, I kind of think, I know you wanted me to read this because of course.com has gone crazy at that point. And he goes, yeah. And I was like, you know what? And I’ve done this 15 years. I want to give back to my family. And we’ll get back full time in Texas. And what a good time, you know, sold my book and got back to my family and to retired, really took about a year off, got very bored, of course, and that led to the birth of the VRa and wealth Masters International, et cetera, et cetera. And now here we are. Right? But, you know, again, we haven’t seen any of these kind of bubble bubblicious signs yet, but, you know, they’ll start building.

[00:19:26]:
But remember, even when they start building, that’s just the beginning. It’s going to take a long time. And because I believe this is going to be that bull market. Like, this will be, this will be the one that really, really is crazy. Because again, it’s structural in nature. That’s what’s most important here. And I think that’s what so many people are missing. This is a structural bull market led by, again, our five big bride mega trends featuring an innovation revolution.

We’re seeing, it’s like living in a science fiction movie. The things that are coming, we’re starting to get glimpses of this. But again, we covered all in the big vibes. A space exploration, obviously, artificial intelligence. You see what’s happening with autonomous cars, robo taxis. It’s genetics. I think optimistically, inside of 20 years, at least half of all illness and disease will have been eradicated. It’s already happening.

[00:20:26]:
Now maybe it’s all eradicated. All serious disease, illness, cancer, etcetera, are gone, because we, obviously, we hate big pharma because they should have karma rain shit on them for 100 years because of these death jabs. But this doesn’t mean they’re not doing good things as well. And so again, we want to stay positive and hope that is the case. But there’s just so much innovation taking place and disruption that’s taking place. And this is only in its empathy. But again, it all started 25 years ago, really. Before then, a lot of this started with.com, and now here we go again.

It’s getting more and more exciting. So again, we just started talking about this, but this is really, this is really fascinating to me. The largest us tech companies, this is just what we know of so far, have already announced they’re reinvesting over $100 billion into their own companies. That’s never this. That’s a record times five. So the old adage has been never short. The United States, the economy, housing market, stocks, anything. When Vegas is on fire.

[00:21:42]:
Vegas is on fire. You’ve been to Vegas and you’re getting so many professional sports teams, they have to invent new sports just so they can build a building for it, too, an arena for a hit. That’s how hot Vegas is. And does you never want to bet against the US economy or the stock market when Vegas is hot? That’s just an old adage that’s held up. And you also never want to bet against either one when we’re in a major upgrade cycle in tech, like, we are now unprecedented. So again, this is why dips have to be bought. These shakeouts are classic buy signals, okay? And again, because a lot of people are still worried about rates being high. We’re just not.

We still believe we’ll have two to three rate cuts this year. That’s been a forecast from January. And gravity is something that I, again, maybe I should watch more tv. I just don’t hear other people saying what I’m about to tell you, but it’s something we focused on now for a while. The gravity, the gravity of supply and demand will continue to bring us interest rates lower. The ten year, by the way, is down to a 4.48% yield. It’s 4.7, what, a week and a half ago. So the friendly employment data of course help with that.

[00:23:00]:
But that’s not the real story here, because we think economy could remain strong from a demand point of view. There’s no reason the rates should implode lower. But they’re still going to, they’re still going to, because that’s what this innovation revolution is going to do. Disruption is going to continue to invite disinflation. Disinflationary forces will continue to bring prices down. Prices seem to never go back to where they were, do they? Because they don’t. But at least we’re going to be able to halt the increase and begin to see prices begin to fade lower. As long as wage growth continues.

It’s 4.2% now. I think the last report actually 3.9%, around 4%. As long as wage growth continues to outpace inflation, then that’s a winning formula and certainly that now. But it’s really the gravity of foreign rates are so much higher than here and I think a lot of people just aren’t aware of this. Don’t put too together, but again, lower than ours, we’ll round up 4.5% on the ten year. Germany is at 2.4%. We’re almost twice the yield that Germany, the most important significant economy in Europe and Japan has. Rates of 0%.

[00:24:22]:
Now, I know that’s a crazy, that’s the outlier, of course, but it doesn’t matter where you look in other industrialized countries, not emerging markets and say developed markets, our interest rates are just higher than theirs. That really doesn’t make a lot of sense. We are king shit. It doesn’t make sense. Again, that’s why institutional money will continue to pile into us debt to capture those higher yields, and that demand will continue to force rates lower. So for a lot of reasons, we’re not concerned about rates. Matter of fact, we believe rates will continue to go lower. And I just put the.

I wrote this up this morning, so I’m just going to mention it. The wild card again, conspiracy theory. Wild card. A very friendly fed. A very friendly fed will continue to goose the markets in the economy higher into the November elections. You know, I’ve talked to people about this at parties and talked to friends about this. I get the eye roll. I get the eye roll.

Kip Herriage [00:25:29]:
Like, come on, kid, you really think the Federal Reserve is going to goose the economy and the markets to try to help get Biden elected? But almost as they’re saying it. They kind of catch themselves, if you know what I mean, like, oh, crap. Okay, yeah, I kind of do think they do that. Did they not rig everything else? Did they not rig, have they not been rigging the election? See what? The election in London. This London mayor gets reelected and no one can believe it because he’s so hated. Right. And then, you know, of course Biden wins and nobody could believe it because it didn’t happen, you know? So, yeah. Do I think that the Federal Reserve is, is, is low enough to do this? Well, absolutely.

It’s the unit party, folks. It’s the unit party. It’s the state. And so, yeah, if that’s what they need to help their guy get elected, you bet they’ll goose the markets and the economy higher into November. I think we already seen that now. I think we’re seeing it with the last jobs report and pals very friendly presser on Wednesday as Paul and I watch that we are both going, okay. This guy is way too relaxed, way too confident. He knows what’s happening.

[00:26:34]:
Like he’s written the playbook. So why wouldn’t he be relaxed and confident? Right? And I think that’s exactly what’s happening here. So again, you know, I like being right. So I’m proudly a conspiracy theorist. I don’t even know what to say about that. But I think that is, that is the, I think if you’re Occam’s razor, I think that is the most obvious explanation. I really think it is. Now, that’s just where we are.

And it sucks to even say that. But look, our job is to make money and to beat the markets. And that’s just, we’re going to keep betting with the winning team here. And the winning team is on the bull market side of the equation. That is just the way it is. Now. I will say this. Looking forward, looking forward to post election if Biden wins.

I don’t think I want to be long stocks for a while. It’s not that he’s going to tear America down. I’m not saying any of that. Not that he won’t. I’m just not making a political statement here. What I’m saying is the reason for that bull market move higher to take place would then be over. That would be a classic buy the rumor, sell the news eventually. And again, we’re just, we’re just thinking ahead here.

[00:27:45]:
So just kind of follow that away. Come, come first week in November, after the election, we might have already taken some profits. We might even own some puts and we might be ready for, for a shakeout if Biden wins in that kind of environment. So I know it doesn’t make a lot of sense talk about it now. But again, I think, I don’t think I’ve said that on a podcast before. I know I haven’t written it up yet. So there you go. That’s the first instance where we might, we might be looking to be a contrarian to our own data after the November elections.

All right, so, yeah, you know, again, Tyler’s all over this stuff. Fear greed index now for 16 straight days is in fear territory. Wow. Like, what are we a percent and a half below all time highs? And we’ve spent 16 now straight days in fear territory on this fear and greed index. And it’s not just the fear and greed index, it’s these various sentiment surveys. Multiple sentiment surveys are showing the same kind of shakeout. We saw it in the AI investor sentiment survey. Not last week.

The week before had more bears than bulls. Again, stunning, right? More bears than bulls in this kind of a bull market. So it is not just fear and greed index. It is everywhere. And again, I think as a contrarian, we are getting these buy signals that are just extraordinary. And again, I repeat, semis lead Nasdaq. Nasdaq leads the broad market. Look what happened here today.

[00:29:09]:
Semi is up 2%. Nasdaq up 1.2%. Dow Jones up half percent. SGF 100 up 1%. Again, this is textbook outperformance. These are textbook buy signals, folks. Textbook buy signals. In an early second year of a brand new powerful bull market, there’s a reason that eleven out of twelve VRA investing system screens are bullish.

That’s never happened before in the better than 30 year history of the VRA investing system. And there’s a reason for that. And that reason is buy the dip and back up the truck as we did two weeks ago. With our addition of even more semiconductors and more Tesla, I think you’re going to see rocket ship moves in our favorite stocks. I really, really believe that. That’s how we’re positioned. That’s what we’re going to tell you we’re doing, because we do report what we’re actually doing here. All right, let’s get right to the internals here.

Us market data, first of all, advanced decline for NYSE. Again, these are very good numbers. Three to one positive for three to one, positive for NYSE. Advanced decline, almost two to one, positive for Nasdaq. NYSE up volume 76.5%. Down volume 63, excuse me. Up volume for Nasdaq 63.6. Again, the NYC data is very strong.

[00:30:32]:
Nasdaq a little light, but still, you can’t complain really was 64%. And then we had 317 stocks hitting 50 week high to just 63. Hit a new 52 week low. But again, it’s that percent above the 1502 hundred day. The way that’s pulled back, come back down. That’s a great buy signal. And again, this book haul ratio, as we talked about the beginning of the podcast, it’s just kind of stunning that that many people are buying puts in this stronger market. That is a buy signal.

Folks in our sector watch again. Here we go again. Listen to this. Eleven, excuse me, ten of eleven S 500 sectors high on the day. Very good day here. Led to the upside by tech, of course, up 1.5%. Communication services, essentially tech itself, 1.4%. Several groups up 1%.

Really, it was 1111. Okay. Because real estate was only down two tenths of 1%. And so, you know, that’s essentially flat on the day. But again, it was a fantastic day here. And a commodity watch again, we told you last week we thought the shakeout and goal was over with. Love this group here. If the story going forward is our base case is accurate with rate cuts and now money supply is growing again, they’re going to goose the markets and the economy into November.

[00:31:49]:
Yeah, this is a buy signal for this group. Gold today of $24 now back to 23 32. That’s what just over better than 1% silver today, up 3.7% silver. Really. That shake out there was way overdone. Silver today of almost a dollar now 27 68 copper today. Doctor copper continues to charge higher again. Big buy signals here.

1.1% today. Just again, another two year high today closing at 461 a pound. Crude oil as a covered earlier today was up a half dollar barrel at 78.67. Love energy stocks here. That’s the play here. Energy stocks are the play still for this market demand side. Right. The global economy is coming back.

Doctor copper is proving that China is coming back again. All these pieces of puzzle are coming back in energy stocks. That’s where the action is again. As opposed to owning oil or natural gas futures, we recommend owning energy stocks. Finally today, cryptocurrencies. Okay, I’m losing track of my days here. Bitcoin broke, was it Friday last week, bitcoin broke support at 60,000 and it got smoked down to like 56 and change. Right.

And then again right away on softer inflationary data here it came roaring back, broke through 60,000, which then became resistance. But it broke through that, I believe it was Saturday night, without almost any trouble, hit its high yesterday, early this morning, I should say, of over 65,000, throwing a lot of numbers at you. But today, right now, as I speak, bitcoins up 63,500. That’s up with a couple thousand dollars from, from Friday’s close. The story here continues to be supply and demand, and it’s the best supply demand story in the history, not just of my career, but I believe the history of anyone’s career, of anyone’s lifetime. Supply and demand. We talked to a lot of folks that still can’t buy it, a lot of financial advisors, a lot of brokers, and then you talked about sovereign wealth funds that still haven’t been able to buy yet. Once these compliance restrictions are lifted and the legal disclaimers are available for their clients, just more and more firms will start being able to buy these bitcoin.

[00:34:18]:
ETF’s still not the case right now. These pullbacks, these shakeouts are an incredible opportunity for bitcoin. We like bitcoin. And our favorite ETF is Kathy Wood, because we’re a big fan of Kathie Wood, her ETF reference ETF arkb. That’s the ETF that we have a recommendation on. And so again, I think bitcoin is always a buy here because it’s going to go past 100,000 this year. That’s our call. But especially on these pullbacks, if you’re looking for an opportunity, we recommend using monthly dollar cost averaging to add to your favorite stocks, growth stocks.

That’s what we do. And to bitcoin as well.

All right, folks, I always appreciate you listening. Hope you had a great day and you have a better night. We’ll see you back here tomorrow after the close. Bye.