In today's episode, Kip takes a deep dive into the latest market action as Gold and the semiconductors hit fresh all-time highs. Kip breaks down why optimism continues to fuel this "melt-up bull market." He also critiques mainstream financial commentary and tells fascinating insider stories, sharing personal anecdotes and lessons learned about trend following and tuning out the noise. Tune into today's podcast to learn more.

Don’t look back because the market is closed. Good morning, afternoon everyone. Kip Herriage here with the daily VRA investing podcast. Hope you had a good day today. Hope your weekend was fantastic as well. Let’s get right to it. A lot of fun things to talk about today. I got to tell you because the, the atmosphere and the mood is pretty, pretty, pretty good.

And we got a bull market that’s a melt up bull market. You got the gold miners hitting another all time high today. Gold hitting an all time high today. So silver 2 bucks an ounce away from an all time high. Semi is hitting an all time high today. Tyler just, Tyler just rattles us off like he’s like, like he did, like he designed it. Fear and greed index, also from Tyler. 53.

Here we are folks, just a couple days removed from all time high. After all time high. After all time high. And the fear and green index is 53. And last week’s, I will tell you, last week’s AI AAII investor sentiment survey did have more bulls and bears, but that, that, that broke a string of like three weeks where there’s no more bearish than bulls. And now Fear and green index at 53. So look, are people getting more bullish? Absolutely. How could they not be? But it’s the number of bears that are out there that are still convinced.

[00:01:14]:
I mean, absolutely. And I know some of these people and I hear from them, they’re absolutely convinced that we are days away, days away from an absolute crash. You know, if you know who Peter Schiff is, by the way, I had Peter speak at one of my events. He was running for Senate at the time and of course he was a big gold bug. And you know, we agreed on things at the time, this is before the financial crash crisis of 2008. And he was bearish. I was bearish. I was like, yeah, this guy, he’s kind of becoming a known name.

He’s running for Senate. Let’s get him to an event. And turns out he was just complete asshole guy didn’t want to spend any time with any of our, any of our members that were, you know, paid good money to come to these events and to be able to converse and hang out with our speakers. Of course, Wayne Roots, always the best at it. Jared Griffin, always the best at it. Matter of fact, it was kind of one of our things is, you know, we hope you like coming for breakfast, lunch and dinner and hanging out at our functions in the evening because that’s what people really love and it’ll be good for you, you grow your business, they’ll become loyal to you what you do as well. And Peter Schiff just could not have cared less. So he only spoke at the one event, and that’s when I really learned that he was a complete.

[00:02:22]:
But this guy is still as bearish as bearish could be. Now, he has been right about gold. Got to give him that. But he’s been so wrong about bitcoin that more than that, more than is it takes away his gains in gold because he’s lost an absolute fortune by hating bitcoin. How many people has he turned off to bitcoin by being absolutely wrong? I don’t get it. That’s why we tell you. You know what? We. We don’t have to guess on market direction here.

That’s. That’s, that’s a loser. That’s a sucker’s game. No, no one’s smarter than the market. Stop trying to tell the market what to do. Peter Schiff and all these perma bears out there, because it ain’t the way it works. That’s why we’re trend followers, right? We don’t have to be smarter than the market. The market’s screaming at you most times what it wants to do.

[00:03:10]:
And by the way, the market goes up something like 70% of the time. So, I mean, it doesn’t take a rocket science figure that out. But somebody should have that conversation with Peter Schiff and these other perma bears that continue to tilt it windmills. They continue to scream, oh, this is all phony. It’s just a bubble. It’s going to end worse in 2008. And they’re idiots. They’re complete idiots.

I don’t even know why they do it, because they can’t be. I don’t know, maybe. Maybe they’re being paid to. Maybe they’re part of the psyop of negativity. There’s something there that we’re missing because there’s just. No, it makes no sense to be that wrong about something for this many years. For literally for a decade. Right? But they’re out there.

And the sad thing about it, and this is really what honestly is what pisses me off or anything, is that there are people that listen to them. And I don’t know, I think some people don’t have a good detector. And so that’s why propaganda works on. On so many people. And so they see someone on television, oh, he’s been. Look at him. He’s got gray hair. He’s been doing this 40, 50 years.

[00:04:16]:
Oh, they look at. Look at his introduction. He’s, you know, look how many times he’s on tv. And that’s the other thing. And I tweeted this out this morning. The number of people that are on television now. I don’t watch CBC anymore, of course, but on Bloomberg and other. Other networks, Fox Business is the best, of course, Charles.

Charles Payne’s absolute best. Best financial mind on television. There’s not a close second. But these Bloomberg people that they have on that are just. And I know the same thing applies to cnbc, by the way. I just. I can’t tell you recently because I don’t watch it, but I hear about it. They’re just wrong all the time.

And I’ll tell you the truth. I know, because I’d be ashamed. I would feel shame, and I feel remorse that I steer people wrong. If I went on television after making. Let’s say. Let’s say I made five really bad calls in a row, right? That’s something. I got to tell you the truth. I don’t think I’ve ever done five big calls wrong in a row.

[00:05:18]:
I would not want to go back on television again. I would tell Charles Payne and I would tell Wayne, you know what? Let me figure stuff out here. I got something. I’m not locked in. I’ve done something wrong. I pissed off the universe. Something is wrong here. And I got to get this sort.

I got to get back into church more. I can be nicer to my woman. You know, I got to be a better father. I’ve done something to really offend the universe or to piss off God. So let me. Let me figure stuff out. But these people don’t seem to care. Jim Bianco, I have to tell you, he’s so smarmy, okay? And he’s wrong all the time.

Like, he was just pounding the table. You probably. He was on Bloomberg this morning. So maybe think about it. You know, I follow him on Twitter. I don’t even know why I do tell you the truth, because he’s so, so wrong. And I normally don’t name names, but, you know, I think he kind of deserves it because he always pretends like he’s right, and he is rarely right. Like he was just until rates started coming down here.

He’s been saying for, I don’t know, at least a year, rates are going to go higher. We’re going to have another inflationary spiral. This is what he was saying, like, a lot. And it was like, no, man, it’s not going to happen. That way Tyler just reminded me, by the way, Cathie Wood, he saw Cathie Wood on, in an interview this morning. I missed this. Cathie Wood said this morning that she expects inflation to be below 2% next year. And I think that’s exactly right.

[00:06:39]:
This is, this is a call that, as you know, we’ve made for some time that this innovation revolution is going to bring disinflation, not inflation. And so you see so many people again, these, these wrong way runways that are still saying inflation’s our biggest problem and they just could not be more wrong. Hey, if things change and we start seeing real signs of inflation bubbling up, we’ll tell you again, we don’t like staying wrong. We’ll tell you. It’s just, it’s just not there, you know. And again, think about all the, again, wrong way runways that have said Trump’s and Trump’s tariffs are going to cause inflation. We’ve told you from, from jump street that that was not going to be the case because people didn’t understand the way these tariffs were going to work. We tried to walk you through that and frankly, we’ve been exactly right about it.

I think Cathie Wood’s exactly right. She has been. Again, we’ve talked about Kathy Wood. I love her. I think she’s fantastic. They’ve made some horrible calls for the way they structure their portfolios. They’ve made some very bad picks. They’ve had bad portfolio diversification.

And kind of odd the way they do it. Like a company will come up and they just put a ton of money into it. Like wait a minute, they just went public. Do you really know this story that well before. I don’t think they did. And they buried in positions that it’s destroyed her returns. I think she’s learned from that. But what she’s always been exactly right about, and this is really what I’m talking about, the innovation revolution.

[00:07:59]:
She doesn’t call it that. Cause AI boom, I think. But you know what we call the innovation revolution. She’s been exactly right about this, about the GDP growth that’s directly in front of us. Remember she’s saying we’re going to have, I think if I don’t want to misquote her, I believe she said we’re going to have a decade of better than 10% GDP growth. Elon Musk is saying essentially the same thing. I don’t know that I go quite that far, but I think the theme is exactly right. As you know, we’re looking for 5% GDP growth, I still think by year end, but we officially were saying by June of next year.

I think, I think by June of next year, we’ll be at 7% GDP growth. This, this, this, this economy is, is preparing to take off. Kathy was exactly right about. Elon Musk is saying. Everybody’s saying that we’re going to have a job destruction, an economic disaster from AI and what’s happening, they couldn’t be more wrong. We’re going to have a time of prosperity like you could never imagine. And I’m going to put my money on Elon Musk. Yeah.

And Cathie Wood long before any of these perma bears that are just wrong all the time. So, again, we like being right. And I think if you surround yourself with some of the brightest, brightest people out there and you listen to what they’re saying, you can make it a good, informed decision. That’s just what we try to do here. I know it’s what you try to do as well. So, great, great call Cathie Wood. Disinflation is the theme we’re gonna have. I think we’re gonna have, I think, I think we’re gonna have five to seven years of pure disinflation.

[00:09:35]:
And it’s going to cause the economy to just rock and roll. It. It really is. And Trump, you know, we haven’t talked much about this, but Trump’s one big beautiful bill. That stuff didn’t even go into place until next year. 100% expensing. You listen to companies that have to buy equipment and they all tell you that 100% expensing. You can spend an entire year, everything for a piece of equipment in year one.

And of course, the design for that is to bring back domestic manufacturing. And what better way to do it? And that hadn’t even started kicking in yet. And there’s so many other parts of Trump’s one big beautiful bill that also don’t kick in until next year. So again, you just, you just not hear nearly enough people talk about this. And again, my final thought on propaganda, working on some people, you know, I think that I was, I think that until 9 11. You know, 911 is what woke me up. And it made me, you know, get out of my cocoon and say, wait a minute, what’s going on here? What is going on here? And so it changed the way that I looked at things. And I think everybody probably has to have something like that in their life that just goes, wait a minute, that doesn’t make sense.

[00:10:52]:
And one of those Things that doesn’t make sense now is this guy that supposedly shot the President. I’m sorry, Charlie Kirk. Well, the guy that shot the president, too. But the Charlie Kirk shooting. Does anyone think that this adds up? Today they had the hearing on, and all you did was you heard the shoot. Tyler Robinson, I think his name. You heard his voice. You didn’t see his picture.

Who knows if it’s a voice or not? He just said one thing like, yes, sir. Or something like that. Yes, your honor, something like that. Nope. No video image of anything. That’s not going to happen until October, they say, when he has to, I guess, enter a plea. But does anything about this shooting of Charlie Kirk add up to you? Because they’re moving forward with this trial. Like, oh, it’s a lock, as he did it, and boom, we’re gonna.

[00:11:34]:
We’re gonna lock him up and never see the, you know, something, a ray of light. Again, I got real questions about this, and there’s some wild theories out there, but again, I’m. I’m nowhere close enough to saying, you know, I think somebody did it or this country may have played a role in it. A lot of people think of that right now. You know, I’m talking about Israel. And that’s a rabbit hole that I think. I think one of these days we’re going to go down. Matter of fact, we’re going to go down that rabbit hole one of these days because.

For a lot of reasons, and there are some reasons I don’t want to go down it, but I think there were more reasons to go down that rabbit hole dating back to 9 11, by the way. And there’s so many people that believe Mossad played a significant role, if not the leadership role in 9 11. I actually never said that before, and I’ve always been very careful about. I don’t have the answers. I hate to speculate. Right. And I don’t have the interest at all about. About the shooting of Charlie Kirk.

But I got a lot of questions, and I know I’m not alone, so. But they’re moving forward. Like. Like, no big deal. We got this guy. It’s over. I don’t think so. And I think it’s a real problem if Cash Patel and even.

Even Trump, I think if they move forward with this and just try to, I don’t know, just hope it goes away, like the Las Vegas massacre or Trump’s Butler, Pennsylvania shooting, I don’t think it’s going to fly. But again, they also happen to know, by the way, that what are we going to do, vote for Democrats? No, it doesn’t matter if they lie to us. We’re not going to vote for these idiots. Right. And by the way, this government shutdown, I wrote this up this morning after doing some research over the weekend of five of the last six government shutdowns we’ve had, the market has gone higher. So the people asking, okay, how bad is this going to be for the market? It’s not going to be bad, it’s going to be good. I think the melt up may even pick up speed because there used to be a mutual fund. I don’t think they’re around anymore.

[00:13:31]:
They only invested in the market, otherwise they’re in cash. They only invested in the market when Congress was out of session and they beat the market handsomely. I don’t know what happened to that fund. Matter of fact, Wayne, Wayne Root is the guy that told me about that fund. And I tried to find them like a couple years ago and I don’t, I don’t know. They’re gone. So maybe they weren’t big enough. They couldn’t pay their expenses and fees, so they just kind of shut it down or something.

But I thought it was a very clever concept because history tells us when Congress is not in session, the markets do far greater than when they are in session. And the reason is if they’re not in session, they can’t hurt us, they can’t hurt entrepreneurs, they can’t hurt the economy, they can’t do any harm. All right, but remember, they’re here for the government, here to help. Right? But anyway, as far as this government shutdown, this guy on Bloomberg maybe 30 minutes ago, and he’s their government reporter, and this guy said in a live interview to one of the Bloomberg hosts that the shutdown won’t last past a couple weeks because that’s when the military gets paid. And the military, military doesn’t get paid. Everybody’s in trouble. Meaning of Republicans too. Now, I’m sorry, but has there ever been an instance where the military did not get paid in the government shutdown? I asked Grok that question.

[00:14:57]:
Grok said no. And I always ask Grok two or three different ways because when you do that, it forces them to go back and check different sources. Right? And all three times I checked, no. The government, the military has never been paid. And then the other, you know, fear mongering they used. And again, this, this works on people that are impacted by, by propaganda or just don’t know any better. And they hope they think they can rely on the media. Well you can’t.

We know that they also say, normally I haven’t heard of this yet, that Social Security recipients won’t be paid. Now you have to know that Democrat, these slimy Democrats like Chuck Schumer, you have to know that they’re using this in at least in private meetings. Oh, oh, wait till, wait till you don’t get paid Social Security check. You know, trying to hit the retirees, you know, get a little bit older, you forget things and now you’re like, now you’re really scared. Oh my God, I can’t vote for Republican. They’re going to take away my Social Security check. So these are complete scumbags, right? And see that’s the thing, that’s the thing that’s lying on the national airwaves. That should not be allowed.

And that’s what these Democrat networks, legacy media as Elon and others like to call them, that’s what they do. They’re purposely lying. They’re not getting things wrong. They’re not, you know, giving a counterpoint or opinion. They’re flat out lying. They’re lying to serve a purpose. And in most cases that purpose is to demoralize the country. So you don’t know who to believe.

You don’t think you can believe anybody anymore. That’s, that’s of course the goal of communism in their attempt to take over democracy. This has been, you know, back checked and proven time and again. This is what they do and that’s what the media is doing. They should be rated. And I’ll, I covered this last week. I’ll say just briefly here, it’s my hope of hopes that while Trump is still in office this could be a big move for him because he will absolutely be called Hitler, he’ll ask, will be called a fascist by everybody in the media, probably even including Fox if he raids these, these, these CNNs and MSNBCs, the world and maybe, maybe Bloomberg if they’re going to keep having liars like their own government reporter on telling people that the government won’t, employees won’t, excuse me, military won’t be paid during a shutdown. That’s a bald faced lie.

[00:17:12]:
I think if you’re lying throughout every day, not, not making a mistake here and there but if you’re constantly lying, you’ve, you’ve abused your trust that you’re given to be on the national airwaves and you must go, you must be rated and let’s find out what the truth, tell the American people the truth. About this because this country is tearing itself apart. These far less liberals, they hear this stuff and they just lose their minds, literally. And we see the end result is all around us. Not there aren’t some crazy people on the right too, but it’s far, far worse on the left. And everyone knows it is. Okay, it’s not, it’s, it’s, it’s a joke to say anything other than that. But I think that’s, I think to, to really, to really win this country back.

And it’s happening. This country’s being red pilled. I think it’s already over, frankly. I think we won the culture war. You know, they’re dangerous, right? When they’re, when a rat’s corner, they’re dangerous. But I think we’ve won this. And I think to really win this, you’ve got to show Americans the truth about what the left has been doing, these communists have been doing. And that, of course applies.

You probably saw the news over the weekend about January 6th, folks, we all knew, we all knew from watching. By the way, I was five minutes away from being in D.C. i’d still be locked up under the jail, right? Tyler and I were about to go there until a friend of Tyler’s, Brian Brown, who, you know, actively works in politics, very, very smart guy, told us, you know, he was in D.C. at the time. He said, you know what, I got a really bad vibe here. I wouldn’t come if I were you. And we respect Brian. He’s very sharp kid, you know, young men now.

And we’re like, okay, yeah, that’s enough for us. I talked to Wayne. We said, no, there’s no way I’m going. So. But we were headed that way. And I can promise you I would have gone in because the door, they opened the doors. They opened the doors for us. I would think, okay, we’re taking our country back.

[00:19:03]:
That’s. How can I not do this, right? They’re all doing it. I have to do this. But anyway, what did they find? FBI. Cash Patel admitted was it 274 FBI agents were in the crowd. And I think Cash Patel tried to present it like, oh, they were trying to help with crowd control. No, no, no. They were the instigators.

The FBI was the instigators. And I said, on the day I’ve got this tweet, I might have to include it here pretty soon in the VRA letter. I said, within five minutes of the shooting. Okay, the, the girl that was shot and killed, I, I’m sorry, I forgot her name. But I said right away, when the craziness broke out, I said, this is not maga. This is Antifa. And by the way, that’s exactly right, because Antifa is the government. Antifa is the government.

If you don’t understand what that means, then you trust your government way too much. Because Antifa is bought and paid for by the US government, by the deep state. They want our country to fail. Why would they want our country to fail? Because that’s when they can take over. That’s when communists can do a complete takeover. When the government fails, people are losing things they need. And, you know, if you’re dad, right, if you’re dead and you know, and you need to provide for your kids and put a roof over their head, things get bad, you’ll do anything to feed your kids, including allowing a government to run roughshod over your rights and take away those rights. That’s what they want to do.

[00:20:36]:
Look, in the UK right now, it’s happening, you know, with digital id, Mark of the beast, you know, Canada is essentially gone. And I’m sorry, we have a lot of Canadian friends, but would I stay there? No. Even Alberta, you know, we have a lot of friends and a lot of subscribers that are in Alberta. And I’m sorry, you know what I’m talking about. How did Alberta. Alberta is like Texas. I mean, these are. We’re really the same people.

And Alberta is just gone. And their leadership is just driving them off the edge. And, you know, it seems like you can’t get rid of them. So, you know, the US has got to stand strong. I do think we’ve won this. We have to keep fighting. Of course. And we have to, again.

We have to. We have to, to bring all this truth to truth to the forefront so the whole country can see with trials. Yes. I’m talking about for the COVID poison jab as well. You know, we need honest trials so this never happens again. And that’s the only way, I think, that we really make sure it’s permanent. And then the rest of the world can say, wow, look at that, man. They actually had trials about this.

And, you know, juries actually found these people, you know, hundreds of people, maybe thousands of people from the U.S. government and state governments found them guilty, and now they’re doing time. Maybe some should be doing worse than time. And I think that’s exactly right, too. Okay, let’s move on here. Put call ratio. This was we, by the way, we launched Parabolic 23. Parabolic Option 23 on Saturday, and we’re still taking signups now.

[00:22:09]:
We’ll have our first trades tomorrow. First letter update went out today. And we, we got our first four targets. We’ll probably act on two of those tomorrow. And you know why we’re going to do that, right? Because we’re entering the fourth quarter. Here comes Q4. Let’s give you some, some, some, some facts about this. Just like the government shutdown is anything but bearish, the fourth quarter is anything but bearish.

And I, there were, there were people out over the weekend. I watched. They were saying early, early October is not good. I’m like, nope, you’re exactly wrong. You are exactly wrong. Early October, and especially in a election year, okay, like we’re in now, is actually quite good. Matter of fact, the first 15 days can be barn burnerish. All right, so here’s the deal.

Going back more than 70 years, the fourth quarter has been far and away the best three months of the year. The market’s been up 80% of the time. SB 500, up 80% of the time with an average gain of more than 4%. But that’s going back 70 years. Let’s go back to 1990. Let’s go back 30, 35 years. It’s even stronger. October, November, December, of course, all up.

[00:23:13]:
Here are the returns. October is up 1.3% on average. December is up 1.6. And November is up 2.95. Right. And again, in the last 35 years, I think we’ve been, been down like 4 years in those 35 years in the fourth quarter. And one of those, of course, was 2018, thanks to J. Pal and the Christmas in the fourth quarter from hell.

Again, hiking rates when there wasn’t a need to do it because he said economic growth causes inflation. No, it doesn’t. Money printing causes inflation. Economic growth does not cause inflation. Never has, never will. They’re lying to us. And unfortunately, they’ve convinced too many people. That’s true.

But again, we’re very bullish on the fourth quarter, as you’ve heard us say. I think we’re going to see a continuation of the melt up into year end. And 2026 is going to be a real barn burner, I think. 30 to 50%. 30, 35% for S 550% for NASDAQ. Because again, Trump’s one big beautiful bill goes into place and it’s a, it’s a, it’s a midterm year. That means Trump wants to absolutely crush it. That’s why he’s Putting all this stuff in place.

So this market and the economy soars. That’s why he’s fighting so hard to get rates down. So the housing market come back. You see the housing news today, pending home sales were up 4% last month. And what do you think the estimate was? 4/10 of a percent. Like this data coming from BLS. You can’t trust it anyway. But you know, that’s a good read.

[00:24:43]:
It must have crushed them to have to put that out. Right? And, but again, as we always, we talk about housing, we always remind you of one thing. You ain’t seen nothing yet. Because when this $34 trillion in home equity, as rates keep coming down, as people get more and more confident in the economy, they realize, okay, Trump does know what he’s doing. No, tariffs aren’t going to harm the economy. No, they’re not going to cause inflation. Right. People get more and more confident.

Stock market soaring. Okay, People need to get more and more confident. They’re going to start taking money out of their home. Because right now the average home equity is 70%. 40% of Americans have no mortgage. So that $34 trillion, there’s now seven point by the way, also $7.7 trillion in money market accounts, also an all time high. People have so much money, they stick in the money market. Like, man, I’m already like big in the market and I’ve already got a lot of real estate.

Just stick it in cash. We’ll get to it when we can. I mean it is insane, of course, into money supply better than 22 trillion. These are all, all time highs, of course. And, but when that home equity money starts coming out of homes and a lot of people hear that and they go, well, that doesn’t sound good, Kip. People are trying to, shouldn’t they pay off their home? No, you should not pay off your home. The reason is if you can have a mortgage and your mortgage is, I mean right now mortgages are still high, just, just over 6%. But we get back to reality, Bill.

You know, like when Tyler and Sam bought their house in Austin, I think the mortgage is like 2 point. They could not have timed it better, like 2.3%. Okay. And so they just crushed it with their first house and lower than our mortgage. Right. But I think that when, when rates start coming down, I really think that when we get to about a, about a four, four and a half percent 30 year mortgage rate and this should be no later than mid next year, right? I think you’re going to see Mortgage rates really begin to crater. The more power that’s taken away from 111 J. Powell, worth that share of our time.

[00:26:43]:
I think you’re going to see an avalanche of money come out of home equity. And no, it’s not bearish if you can take a loan out and pay 4, 4 and a half, even 5% and you can invest that and make 15 to 20%. Even, even conservatively say you make 10 or 11% and that’s not hard to do in this environment. You’re doubling, you’re doubling your income from your mortgage. And again, that’s also a tax write off. And now Trump wants to, you’ve seen this too, right? Trump’s serious about this. He wants to do with capital gains on home sales. So that’s, this is the financial engineering we’ve been talking about.

And it’s only going to pick up speed. So I, again, I think that, I think very few people in this country are bullish enough and I think that even includes me. Tyler probably is, right? Tyler probably is. By the way, I want to speak of one son. I now must speak of two. Today was Sam, our youngest son, Samuel James Herridge. It was his first day on the job with this. Sam made his mark in the logistics business in Austin, became a real rock star as a, as a freight broker in Austin.

And I mean, one of the top guys in one of the fastest growing companies in America. But he was there five years. He realized that there was more to life than making 100 phone calls a day every day and doing it six days a week. But he learned a great work ethic, you know, and he had a lot of success. And now he’s joining us. He’ll be doing a business development for us. We get some big ideas, you know, that are on the back burner. We’re going to let Sam get acclimated first.

And I think easily by year end and probably sooner than that, you’ll start hearing Sam’s name more. We want to do a lot. We would do as much as possible to help our community. Yeah, we want to grow for sure. But that’s not goal number one. Goal number one is to help our community, to reach people that need our help and to make money and all. There’s so many different ways to make money now that honestly, Tyler and I and Josh and I and Danielle, we can’t handle it. Between the three of us, there’s just too much happening.

[00:28:41]:
We need another set of eyeballs. And by the way, that includes all of you. Thank you again. For your emails. Thank you for your phone calls, you guys. Guys and girls are awesome. We actually have a lot of women that listen to this podcast. And frankly, I don’t even think about that.

I always think I’m talking to a group of guys. And I know that sounds sexist, and, And I apologize for that, but. But we hear from so many women and they’re. They’re just super smart and they see things in a way that. That I don’t. And so I always appreciate your feedback. And by the way, I got a Jim Cramer story for you. This is a pretty good story.

It’s true, because it’s from Jim Kramer’s mouth. Jim Cramer used to not suck. All right. Jim Cramer used to be really. He was a good hedge fund guy. Right? And he was good. Well, why do you think he was good? His first wife. He’s remarried now.

Right. And I wish him the best in that. But his first wife who divorced him, she was the brains of the outfit. He actually had said this in the past. I think he regrets it now because he’s not. He doesn’t beat the market anymore. She was the brains of the outfit. She’s the one that kept him out of trouble.

This is, his words, kept me out of trouble. All our big calls, she made them and she said. He said she just had the instinct for it. That’s been my experience. That’s been my experience on Wall street, is that if I have to pick between a man and a woman, I’m picking the woman every time to manage my money. They’re smarter, they don’t act on impulse, and yet they may be a little more conservative, but when they act, they act with confidence. And I’m telling you, that is Jim Cramer. He should become Mormon and then marry his first wife back.

[00:30:13]:
He got two wives and maybe he’d be happy with one and the other would help him make money. How about that? But again, we’re very bullish here, as you know, and we’re looking for a great fourth quarter and a good 2026. Finally, gold, of course, as I said earlier, hitting an all time high again today. Silver, two bucks away. Gdx, the Minor etf Extreme Overbought. It’s Extreme Overbought, which makes it hard for us to buy it here. But, you know, we. We do own, of course, the Junior Miners.

That’s really where we believe the big money to be made Vista Gold, Snowline Gold, and just haven’t found the right silver miner. And by the way, we have four positions of precious metal so we have gold, silver, both physical. And then we have our two junior miners. That’s a big percentage of the portfolio. We, we, we. If we find the right one miner, we’ll add it. We just haven’t yet. And we own the right two.

Snowline and Vista Gold. We own the right two. And so we’re starting to see this really move in the right direction. That’s just the beginning folks. That is just the beginning. These are going to be. I’ve said it many times and I’ll say it one more time. Absolute fortunes are going to be made in these two.

In these two junior gold miners. All right. Absolute fortune. So make sure you’re well positioned and like we’re extremely bought right now in, in, in, in the, in the, in the ETFs. But yeah, I don’t think it matters for these two. They’re just still so cheap compared to where they’re going. Right. I shared a chart this morning and then I’ll, I’ll, I’ll.

I’ll move on after this share chart this morning that I think is really important when it comes to this group. I shared a. What does this say? Almost 30 year chart, 29 year chart of GDX to gold relative streak chart of GDX to gold, Gold miners to gold. We love relative stream charts. It tells you a story that you just can’t get any other way. And so this is one of our go to’s SMH to spy course. It’s another of our go tos by the way, SMH semi all time high again today. Thank you Tyler.

[00:32:06]:
But GDX has underperformed gold by such a massive margin over the last was again 25, 26 years. Whatever it is. It was in the chart this morning in the letter that this is time. It’s time for that term now. It started. You see. It’s going parabolic now. Okay.

The miners are going parabolic for sure and GDX to gold is going, going parabolic for sure. And so the thing is this is going to continue because if they’ve been so cheap the miners have to gold for so long that that rubber band got stretched way too far and it’s going to take a couple, three years for it to balance out, you know and for the, for the rubber band to become unstretched. I think again, I think I said it so many times. Apologies for repeat myself. I cannot tell you how bullish we are in the gold miners. They’re still so cheap compared to where gold is today. But they are Catching up. Let me, I want to check real quick.

[00:33:07]:
The, the volume, this is crazy. The volume on GDX hitting another all time high Today, up another 1.4% was 24 million shares. I, I, I don’t even know how to explain this anymore because when this group gets going as it did in the last big bull market, the volume in gdx will be 70, 80, 90, 100, 120, 140 million shares a day. We’re doing 24 million shares a day today. The average volume over the last 10 days is 25.2. And this is chump change. So we’re not anywhere close. I mean anywhere close a top in this group.

We’ll let you know when that’s happening. But we’re not close to it now. Okay, let’s take a look under the hood today. Kind of quiet, so we’ll go quick here. The internals were slightly positive. Positive actually positive across the board. Today they were positive across the board. We had a little weakness midday again the put call ratio got very low.

Put call ratio today got as low as 0.55. That’s low. And that tells you, okay, this market’s a little frothy, right? They close to the point seven seven. So it kind of rided itself throughout the day. But I think that’s one of the reasons that the market gave up its gains. You know the people that follow this stuff like oh by puts man, too many people buying calls. Gotta buy puts is a good trade. Never.

Right? Today though, now again nasdaq, NYSE were both positive on advanced decline. Volume both positive. Not, not by big amounts on advanced decline, but they were positive. Today we had 62 up volume on NASDAQ, 53% of volume on NYSE. And we had 343 stocks. A new 50 Kai just 141 hitting a new 52 week low. Sectors, this is booming. Nine of 11 sectors finished higher to the upside.

[00:34:58]:
And again not a lot of action here. Consumer discretionary and technology and financials, all that right at five tenths of half percent. Energy was down 1.9%. Again this is OPEC. This is, this is reactionary, okay? OPEC talking about increasing production. OPEC is doing Trump’s bidding. I don’t think it takes a rocket scientist to figure this out. Trump wants oil prices down.

Trump wants, because that’s how you get inflation down. And so anytime he needs his help from his buddies in Saudi Arabia, he reaches out to him and they announce, okay, OPEC is going to have another when it Makes no sense to do it, but that’s what Trump’s committed to and he’s got this locked in. And so again I think you’re going to see, once, once this whole inflation saga is over and Cathie Wood’s right about next year and we’re right about long term disinflation, oil prices will begin to go back up again. You can be certain of that because the economy, US and global is just going to be too strong. But right now that’s not what he needs. Trump gets what he wants from his buddies overseas and that’s why energy stocks were down 1.9% today. Oil was down as well. That’s it though.

9 of 11 sector finished higher. No real damage either way in our commodity watch today. Gold again up $54 an ounce. All time high 38.63. Silver today up nine tenths of 1%. That’s a 45 cents an ounce at 47 10. That’s just, just under two bucks away from an all time high. Copper today up 2.8% for 90 a pound.

Crude oil today again down 3.9%. That’s $2.56 a barrel. And at 63 16. Thank you Saudi Arabia. Thank you Mr. President. That’s what they want to happen. That’s what’s happening.

[00:36:36]:
And finally the day Bitcoin, nice day for bitcoin is one of the, it’s one of the targets we have in parabolic number 23 is Bitcoin. We use Ibit and if we use it, we’ll announce it tomorrow. Our first trade again tomorrow in parabolic 23. If you didn’t get the email, reach out to us, let it know we’re glad to send you all the details on that last trade. Bitcoin 114, 190. That’s up 3% over the last 24 hours. All right folks, that’s it for today. Hope you had a great day and even better night.

We’ll see you back here again tomorrow after the close.