In today’s episode, Kip dives into a whirlwind of market action, offering his signature honest take on what’s driving these volatile times. Kip walks us through fresh updates from Tesla’s earnings call with Elon Musk, analyzing cryptic hints about the company’s future—and what might be brewing with new product releases. He also shares his perspective on this rollercoaster market, covering everything from sharp moves in Bitcoin and gold to the brutal shakeouts in momentum stocks and quantum computing.

Don’t look back because the market is closed. Good today. Good Wednesday afternoon, everyone. Kip Herriage here with the VRA investing podcast. Hope you had a good day today. Just got the Tesla earnings call with Elon Musk and team. We’ll talk about that tonight. And the earnings report from today.

A lot of thoughts there. It’s very interesting call and I think we may have gotten some hints, a little cryptic hints about what’s coming with Tesla probably in the pretty near future. We’ll talk about that a little bit along with Elon’s. I mean, he said it’s basically a company with 100 startups. You know, one of the analysts asked a question about what is. Are you getting outside? This was his question. No shit. This is a question.

Are you getting out of your side of your core competency with AI? And you could, you could hear, you could just hear the wheels turning with Musk. He goes, core competence with AI. Let me see. Well, let’s see. When we started this, we had no competency. Everything was brand new. Everything we built here, I built. And, and so I don’t know that you could say we’ve ever had core.

We create all of this. We basically have 100 startups that. We’re a company with 100 startups. How do you determine what’s your core competency? And we’re always moving forward. It was a great answer. And I just imagine this analyst must have felt like a real shitheel, frankly, because he obviously doesn’t know Musk and how he operates. Right, we’ll come back to Tesla, start with the markets first. I’m going to keep this pretty brief.

Tyler and I just talked about this. I don’t know how to actually talk about this all that accurately. I mean, maybe I’m trying. I want to just. We always want to be honest with you here. And we also also never want to equivocate. Oh, this could happen. That could happen.

[00:01:37]:
This, this is. This was an interesting day because of what’s been happening. Bitcoin’s been going lower. Gold just got hit. The miners just got hit 10%. Quantum computing stocks today got destroyed. Nuclear stocks, including our SMR, down 8% today. One of our top picks, Galaxy Digital was up 12% yesterday.

Up, down 14% today. So, you know, I think. And again, I think Tyler has some good advice here. Our primary. There’s nothing’s changed. Our primary trend. Our primary trend is this is that bull market, generational bull market, going to have a great fourth quarter, all that. But the counter Trend is important because this is when people get freaked out, right? Gold’s going down, bitcoin’s going down, the miners are going down again.

Quantum community stocks getting hit today. Other momentum, this the key momentum stocks are getting hit here. And this, there, there’s, there’s a, there’s a binary outcome here. Is that my experience, one or two things going to happen. Either declines in the momentum names are going to stop and we have a little bit of rotation and you know, you’re starting to see that now, by the way, in some, some, some large cap stocks that are starting to go. Amazon have been getting really hit hard and now it’s found a floor. Really healthy bull markets, the best kind. Always.

[00:02:52]:
You always see these rotational themes happen. And I think that’s what’s happening here because look, fourth quarter, we all know this, don’t we? And maybe that’s part of the problem if fourth quarter is the best quarter of the year. But we have some evidence about that today. I shared this this morning. The key here is that a primary trend is fully, fully in place. But you never like to see momentum names and shakeouts take place. Bitcoin, of course, has been a leader from time to time. Gold has been its completely own market.

So I don’t know if you can draw much. It was just that. Was that what we just saw in gold and the miners, completely technical, completely from an extreme overbought market. It went further than it ever should. That’s how these parabolic moves happen, don’t they? These investments always go, you can’t believe how high. You can’t believe how high gold went. Right? Can’t believe the miners were up 140% at one point or whatever it was. Right? They always go further than you think.

And then the shakeouts are vicious. That’s because obviously you have the, the weekends sell and then you see the shorts come in and they pile on and the buyers are bought out. They’re like, and I, I can’t buy anymore. I’m loaded to the gill with this stuff, right? And that’s when these big moves lower take place. But I love the, I love the way it’s happened here because it’s ha. I love this current market, the new market that we’re in. Tell you what I love about it. We used to have to.

Back in the day, right? Back in the day. I mean, I’ve done this a long time, but back in the day, these shakeouts used to be bear markets. We had used to have to wait a year for these Things to go right. A group would go from being hot to lukewarm to warm to frigid to cold. And it took a year. It was Chinese water torture. Well, in today’s world, right, Things happen so fast. Information flows so fast.

[00:04:43]:
Money flows so fast. These don’t happen. These shakeouts don’t take a year. They typically take a week or two, you know, and then you’ve got a reset. And I think that’s, that’s really what I’m trying to tell you. I think that’s what we have happening here. And we saw some. The technical action by the way, in GDX is just perfection.

I’m assure this chart tomorrow morning, you know, go from the most overbought that the miners have ever been in my career. Ever been. The most overbought that gold has ever been. Not just in my career, but ever, period. Right. And now you get these pullbacks like in GDX, gold miner ETF traded almost exactly down to its 50 day moving average. That’s where the move started from in August, beginning of August. That’s where the, it went parabolic, starting from there.

So technically speaking, again, this is what you want to see. And it happened really fast. So it’s just over with the banded off. It’s over with. Right. And now we have a floor. And I think that’s what’s going to be the case here. Now if you’re an options trader, it’s a little more complicated because the premiums have to adjust.

These volatility is created. These premiums is just, they, it takes a while for that to kind of work its way off. And so from an options point of view, you just kind of have to go. That’s just too soon to buy. GDX calls if, if I do, I got to get it just right, you know, and we need a sharp move higher because these premiums are going to continue to dissipate and be sucked out. So but that’s, that’s the story for parabolic options. Not really for here in the VR portfolio. But again, I showed this this morning back to the markets itself.

[00:06:12]:
One of my long term favorite market strategists. Really more than that, really. Yale Hirsch. Yale Hirsch is the founder of the Stock Traders Almanac. He’s the original Wall street analytics guru. He was that when they didn’t have a name for it. Right. But this is what he did.

He put together seasonality trends. Hey, this did all the research and the legwork. Yale Hertz was just legend. And I don’t remember. I Remember how it happened? But I just got lucky enough to be invited to a dinner in New York at Tavern on the Green. I was like 20, 26 years old, probably still really embarrassed to even talk about the markets because I had no clue what was really going on. I’m just sucking up everything, learning everything I can and trying to stay quiet so I don’t show people how stupid I am. And I wound up sitting at a dinner at Tavern on the Green in New York City with Yo Yo Hearst sitting right next to me.

And you know, I didn’t know who he was and he just had, he just kept asking me questions and then we started talking. We spent like three, four hours that night talking and just an amazing true gentleman, you know what I mean? A true gentleman. That was just a wealth of knowledge. So you know, since then I’ve been a big fan of his work in Doctors Almanac. Unfortunately, Yale passed away about four years ago and now his son, who I know as well, Jeff Hersh, he now runs the Stock Traders Almanac. And again just like his father, they do a great job of keeping emotion out of it and they just tell you hey, this is what typically happens this time of year, you know, and here’s the data to back it up. So that’s what this Jeff shared that last night and bottom line is this, this is they just issued their big tactical buy signal for the fourth quarter. So it’s just been triggered.

There’s this based on MACD buy signals. By the way, that’s their the most reliable buy signal for these kind of moves. And he said his quote was October phobia has struck again. But fear not, our tactical buy signal has just been triggered. Market seasonality has turned bullish and October historically been a good time to buy. Our bullish outlook for Q4 remains intact. The market’s pullback has most likely run its course. Of course the it didn’t, it saw lower today but the seasonal low is likely in and the market appears to be poised to resume its run to new all time highs.

[00:08:34]:
Last quote. Weakness can be considered an opportunity to accumulate new long positions for the best months of the year. And so that matches our work. You know, again it’s how, it’s how we see things for the rest of this year. And so I think what we’re seeing now in this counter trend shake out. We don’t like to see the liquidity drains again. I’m coming back to it again, I don’t like seeing that but I think it’s going to be short lived. And I think the, the preponderance evidence is, is that, you know, this move higher is going to continue and this is a shakeout.

You’re going to see the, this week, the Fear and Greed index, the AAI Investor sentiment survey, which I think we get to later. It’s Wednesday night. Yeah, we get that every Wednesday night. You know, it’s going to reflect a big increase in bears and that’s the perfect setup. Right. And so I think what we’ll do at the end of this, as I wrote this morning, we’re going to have the Perma Bears to thank for this opportunity and this ongoing psyop of negativity that’s in place and has been for a long time. So we got some great looking setups here. And again, if you know us, you know we’re big believers in monthly dollar cost averaging in our favorite positions, our 10 bagger positions.

And yeah, so listen, that’s all market finished off the lows today. Pretty good rally by the way. Both the Dow Jones and Nasdaq were down about 400 points today. Nasdaq finished down just 2, just 213 down point 9%. No big, no, no big shakes here. No big damage done today. 10 year yield down to a 3.95 yield now. And again we’re talking about primary themes.

[00:10:08]:
Primary theme, what’s going to happen here next week. Federal Reserve is going to cut again. Not only they’re going to cut. If Jay Powell is, has an honest bone in his body and sometimes that is debatable, but if he has an honest bone in his body, he’s going to be talking about we don’t have inflation. We have, by the way, rental rates are dropping around the country down 90%. That’s a, that’s a disinflationary theme. I’m not saying rents are down 90%. I didn’t explain that very well.

But, but, but rent, rent, okay. And you know, housing cost had been one of the, what were one of the primary drivers of inflation. Well, they’re always the last to adjust and now that’s fully happening. And so in addition to the fact that China is exporting their deflation, in addition to the fact that the innovation revolution is already causing disinflation in this country, the fact that Trump’s tariffs haven’t brought any inflation whatsoever, this is negligible. Right. And now we’ve got the 10 year as a discounting mechanism telling you, okay, we’ve just fallen from 4.8% nine months ago to 3.95%. Now what do you think that’s telling us? It’s telling you that we don’t have inflation. It’s telling you that disinflation is going to continue to build.

And now we’ve got a rate cutting schedule that’s probably going to, it should pick up speed. The Fed shouldn’t be cutting by quarter. They will, that’s what they’re going to do. But they should be cutting by at least a half point, if not 3/4 to a full point at the next Fed meeting. They won’t do that and if they did, it would probably signal economic calamities on the way. So we’re, you know, we’re freaking out. Right. And we don’t want that either for the obvious reason.

But anyway, again we remain very bullish and again I think I’ll just make this point because I want to transfer transition to Tesla now. And again. I really haven’t had a chance to go over my notes here. We’ll see if I can still read my handwriting. But I do want to cover this for a minute. I’m right as much of this stuff I can for tomorrow morning. What a, what a conference call. As I listen to the call and for the newbies here, I’ll just tell you long term, Tesla fan started buying Tesla in my personal account in 2017.

[00:12:22]:
My, my, I started buying at $18 this year. It’s 423 now. So it’s been, it’s been very good return. My average cost is like 80 something. Okay. But you know, again dollar cost averaging. Actually after my buys of this year, I think my average cost is up to like 98 now. Okay.

But we recommended officially in the vera portfolio at 174. It’s a long, long story as to why it didn’t happen sooner. But bottom line is we just didn’t get the opportunity. Stock got away from us. But again on the pullback we saw a year and a half ago, we added finally at 174. Even though I’ve talked about this stock for forever, people know that I love it, that I own it, etc. But I’ve never been more excited about this company than I am now. And I say that in all sincerity and this call with Musk doesn’t do anything to change that view at all.

And what I was thinking about during the call, I’m just going to tell you straight up, I was doing the math in my head on how much gold, yes, gold I should sell to add to my now Tesla’s already my Second largest position in the, in the VRA family office is our second largest. Gold is number one, right? Tesla’s our second largest position. So I’m looking here going, how much gold or should I sell gold and how much should I sell to buy more? Tesla here, I’ve only really long term gold bugs here, only really done that before we did it for bitcoin. If you remember a couple of years ago, we said, you know what, it’s probably time to sell some gold and to buy some bitcoin. And that actually has worked out pretty well. Even it’s a big move higher as gold has had, it still made more sense because, you know, bitcoin of course had that big monster move and I wanted to add to the position and I didn’t want to sell any other equity. So, you know, sometimes you got to rejigger your portfolio, right? And I think we all go through those conversations and, and you know, mental mousetraps, right? Because I hate, I don’t, I don’t like selling gold. You know, gold’s been very good to us.

[00:14:19]:
We’ve, we’ve used it as a savings account, as you all know. We’ve recommended that people do that even as financial planners have called us grossly irresponsible. I think that was, that’s, that’s the primary one. And I have to remind them, you know, really, let’s do the math. After inflation, what’s, what is your money market account? What’s it worth after inflation versus what gold’s up? Because it goes $100,000 in gold from recommended 2003 is worth more than a million dollars today. That same hundred thousand is worth about 70,000 after inflation in a, in a money market account or a cd. That’s because again, our money is being, you know, destroyed by money printing, right? Currency, currency inflation, as they call it. So, yeah, that’s something I’m considering.

Let’s go through the Tesla call real quick. First of all, the quarter today, you know, stock was down about 1%. And then the call started. And then the minute I just, I’ll get this out of the way. The minute that they were asked, one of the first questions was about new products. And the guy, I don’t know his name, it’s the guy, the Indian guy, I believe he’s Indian, doing these calls with Musk was asking a question about new products. And he answered the question every time about products. Musk did not.

So that, that’s a tale right there. But his answer was when the question was about new products. Right. New vehicles. Right. New, new, new models. Okay, the roadster, whatever that may be, a new S, new Y, you know, a new, new X. The, the question was, the answer was every time, oh, we’re not going to discuss new products.

[00:15:56]:
This is not the call for that. And I’m sitting here watching the stock tick, tick for tick, right with, with the call. And next thing you know, the stock broke 430 and it was down to 425. And it was 420 hit a low 417 closed. It’s right now trading 424 after hours, down for just over 4% now 8 down 18 bucks a share. And, and, and, and I’m like, okay, that, that question, that answer, that’s what initiate the move lower. And so I’m sitting here through the call wondering what happened here. And I think number one, there was some disappointment that they weren’t going to address new products because there’s a lot of excitement about new products.

But the more I think about it, I think I know what the answer is. I think they do have new products coming. They do, they do have new cars, new model S, new model. They have new model Y’s already out, of course, but they have new models coming out. And they don’t want to devalue the cars on the, on the, on the, that are on the, the lot now that have just been produced and available for sale. Because if they announce a new Model Y or any, any new model, okay, you know what’s going to happen to the ones on the street, the ones on the, on the, on the, on the lot? They’re, they’re going to just sit there and everyone’s going to go, all right, so the new model is going to take out what, three months to get those out. I’m just going to wait. And so this is, this is what happens.

You got to retool, you got to change your facilities. You have downtime of 45, 60 days. That happened with the model Y earlier this year, which precipitated the part of the move lower as there were no Model Y’s available in China or Europe as they retooled, etc. And so I think that’s what’s happening here. I think we got a snapshot of that today. And you know, honestly, could that cause some weakness in the stock? Yeah, yeah, it could. But again, that’s a gift. All right, that, because again, we’re long term here.

[00:17:46]:
I know that’s easy to say when you know, if you’re fully Invested. It’s not easy to hear. I get it. Look, I totally get that, okay? But there is, you know, we’re long term investors for a reason. Because the money is made in the waiting and if you can rejig your portfolio at certain times, and that’s what I’m thinking with gold, right? You know, everybody’s got something they could sell. Everybody’s got something they could sell. Either a loser, you’re sitting on an old car you don’t want, maybe you want to sell one of your kids or your wife, one of your wives, if you’re Mormon, whatever the case may be, you can always find a way to. Most people can find a way to get some liquidity if they think, okay, I got a chance to buy Tesla on the cheap here.

It may stay cheap for a couple of months, but then it’s, we’re talking about the future and that’s what we’re transitioned to. Now, let me just mention before I do that about the quarter, because I mean, I’m looking at these numbers and going, wow, you know, revenue of 28.1 billion. That’s up 12% year over year. That’s a record high. Let me give you some of the highlights here. Free cash flow was 4 billion. Estimates were for about 2 billion. Okay, now a free cash flow up 48, 46% year over year.

Another record high. Cash and cash equivalents. That includes their bitcoin position, by the way. 41.6 billion they got in cash and cash equivalents. That’s up 24% year over year and up 44.9 billion. Quarter over quarter, 41.6 billion in cash. Right. Tesla.

[00:19:16]:
People don’t really think about Tesla as being a cash cow. And they are vehicles, vehicle deliveries, 497,000 record high. So you know, you don’t, when you, when you hear their earnings report on Bloomberg or cnbc, you know, you hear the, oh, they just. Guys are down 20%. They’re, they’re, they’re cherry picking numbers to make it sound as bad as possible for this company because Musk, they used to not do that. But now Musk is of course a target because he’s, how dare he be pro Trump, how dare he be patriot, right? And so now he’s one of the bad guys that has to be attacked. They don’t want to talk about everything. I just, I just talked about here with you.

They want to talk about the fact that energy revenue for Tesla energy is up 44% a quarter for quarter. All right? It’s going to be up 100% year over year. Energy revenue 3.4 billion. This company, this division didn’t exist a couple of years ago. And that’s what Musk is talking about. We’re 100 startups inside of one company and we’re still creating them. We still have surprises for you. Right, so I’m just going to go through a few points here.

Musk, you know, it’s, it really is a must listen because to hear him in his own voice, right, we’re at a critical inflection point. We are the real world, world leader in AI. We’re scaling massively. Oh, on fsd, full self driving. We are so close. We are one software update away from having millions of cars on the road as robo taxis. And that’s what’s going to happen here. Remember, if you have a Tesla post about 2022, 2023, your vehicle is FSD eligible, which means when it’s no longer supervised, right now, supervised fsd, when it’s unsupervised.

[00:21:07]:
Every one of these cars that you own, millions of cars, Tesla’s on the road will be. You could just let it leave your house at night, go pick up, pick people up. It’ll be a source of income for you. You can buy a fleet and just sit at home all day and just watch your fleet of vehicles make money for you. Okay. And that’s what they’re doing with the, the Robo taxi which might just a little spread out here, but I want to, I’ve got this, this is pretty good stuff here. I hadn’t heard this before. Robo taxi in the second quarter is going to begin full scale production of the Cyber Cab as they call it.

Full production in the second quarter. Right? That’s, that’s, that’s. What is that? Just talking about a couple of quarters away here and we’re there. And that means that they know what’s happening. They know with this new FSD 14.3 which has been rolled out, I don’t have that yet on my car, but they know that 14.3 people that have driven it is like this is, this is it, this is, this is the one. You know, it does anything and everything you want your car to do, including park in your garage, drop you off in front of a store, find a parking lot. It is all of this. Right? At least it’s very close.

14.4 will be sentient. Okay, they’re, that’s, that’s, that’s like, that’s like next. Okay, so I mean great, great Greatly expanding Tesla production energy. What’s happening with their powerwall and their Meg especially Megapack as as, as must said he goes it’s just incredible because we basically have one terawatt of of power on the world around the world, right? But because most of it’s not being used 247 at all times is only like a half a terawatt being used. But because of the, of their pair of their powerwall and again especially the megapacks, these massive, massive, you know, warehouse size battery packs, this can double the energy availability on the grid with their battery pack. And that’s why that energy division is growing so rapidly. And again one of one of a hundred startups inside this one company, right? Optimus, okay this is a hot topic everyone’s know about Optimus v3. This is the one that’s going to be on the market.

[00:23:18]:
This is the one that going to be available for sale. It’ll start you know, industrial uses at first. I don’t think consumers will be able to buy the version three that’s probably going to be version four but that starts in the first quarter of 2026. So again we’re very close to massive thing as he said, critical inflection points taking place. Now if I’m a detractor of Elon Musk, I would say we’ve heard it before. We, we, we’ve heard this before. You beat this drum on full self driving starting several years ago. It’s not there yet.

I mean I get all that, okay? But I think that you got to be real, like a real cynic to see what Musk has accomplished and think that he’s not going to accomplish, get there all the way like he’s on the, he’s on the 10 yard line now. You got to be a real cynic and a real pessimist kind of on the dark side not to think, oh my God, he’s, look at, look at SpaceX, right? Look at what he’s already done so far with all these companies to think that he’s not going to get there the final 10 yards with FSD, with Optimus Robotics and then you think, okay, let’s say he’s going to do it. What’s the future look like? Well here’s what I’m thinking, okay? And this is how I, I approach my investments. I do not give a what happens over the next six to 12 months. I don’t care. I just don’t care. I want to keep buying. I want them to be cheaper so I can buy more because after that, look at where Tesla is going to be.

This won’t be a $423 stock where it’s trading right now. It’s a be a thousand and twenty three dollar stock and then a two thousand dollars stock and then a five thousand dollars stock. Now we’re talking about you know, 2030 or so, right? Maybe 2032 at seven eight thousand. This is gonna be a ten thousand dollar stock. And so again that’s the approach I have with this. We have such a great insight and advantage here with Tesla is that we don’t have to ponder these questions. Is this going to happen? These things are happening. You know what I mean? These are happening.

[00:25:10]:
And that’s why Tyler and I have said this is the number one stock to own for the innovation revolution. The longer it stays weak, the more of a gift that it is. Rejig your portfolio. Be open minded, maybe willing to take some losses and sufficiency in some positions. Maybe will need to sell a child or a dog or a wife again. For you Mormons out there, I got a lot of Mormon friends so I like to give them a hard time. Carl, my old partner was a Mormon. I had about a thousand jokes for him and Carl had this great laugh and just thought everything was hilarious.

Just great guy. Miss you Carl. Look, I can keep going a lot of good analyst questions. I’ll write some of these up tomorrow. They did final, they did wrap the call with the importance of the vote and I’ll spend a minute on that. The shareholder vote for the compensation proposals is November 6th and if you’ve not voted yet, I really look the, according to Polymarket, you know, the great prediction site. What’s happening with these prediction sites is unbelievable folks. There is so much opportunity in these.

We’re, we’re dedicating some time to it. But this is something that folks, this is, this, this is a new business model that’s just been started here. There are going to be, this, the, the, the poly markets and touches, okay? Couches are going to create hundreds of new mini businesses. I’m, I’m talking about new revenue streams, right that will start as micro businesses and micro industries and they’re all going to grow everything from newsletters to just doing, just betting yourself you can. There is no illegal, there’s no insider trading that’s illegal on these. If there’s a topic to be voted on, to be bet on, to be wagered on, to be predicted on, then you can do it. Even if you have insider knowledge that says hey I know, I know that. So say I know that the, the new.

[00:27:05]:
I’m trying to think of something not too specific, but kind of out there. Pick a topic. I, I know that IBM is going to launch their new supercomputer on before July 2026. If that, I don’t know think that’s a topic by the way. But there’s some of these topics are that kind of esoteric and bizarre and you might be somebody at IBM working in that department goes, well, I know it’s going to be because we’re, that’s, that’s our launch date. We’re going to have it. By then you can just go bet every bit of money, predict every minute, put all the money you want into it, get filthy rich and there are no laws or restrictions against it. I don’t think we’re.

Again, we’re trying to put time into this, but we don’t want to hurt our primary business. But again, I tell you, if you’ve got some time and you, and you have this kind of a mind like you like, maybe like sports betting or you like making predictions or you’re, you’re good at kind of seeing the future. Spend some time on Kalshi and polymarket. Polymarket I think is probably. They just did a big deal with DraftKings. That’s the one I think you want to look at. Find out how the whole process works and if you figure it out, come to us and tell us. We’ll buy the report from you, right? Well, you, you put together, I will buy it from you, right? And we can negotiate that price.

But that’s a, there’s some big. And that’s the future right there, folks. We have because AI and just. Because this is what happens, right? We’re in that, we’re in that technological age where so much is going to happen over the next 10, 20, 30 years. It’s just breathtaking. And, and that means opportunity, right? And that’s, that’s really the whole thing with Tesla, you know, and that’s why we should vote in favor of, of Elon Musk’s compensation package because as he said, you know, we’re not Meta and Google, they have super voting stock. And so it’s not, it’s not even possible that Zuckerman, right, could be kicked out of Meta Facebook. It’s not even possible.

He controls the voting stock of the super voting, of all the super voting stock himself. He could literally, literally make a horrible corporate decision on purpose and give all the money to his favorite charity of Saving dogs or something. And there’s not much anybody could do about it. I mean, maybe try to declare him mentally insane, but I mean that’s a process in of itself. But the point being Meta and Google have that because they had that in place before they went public. You can tell that Musk has looked into it, right? He said, no, we can’t do that. It’s not possible apparently after an ipo. So you can tell they looked at all the options, but he wrapped with this.

[00:29:41]:
Again, the vote is November 6th. Make sure you vote your shares. Vote them in favor of Elon Musk. I think that, I think, I think again, Cauchy or Polymarket has it like 90%. That is going to be approved. It’s going to be approved. But I think we still want to vote, show our support. Because these two groups are ISS and Glass Lewis, right? As Musk said, they are corporate terrorists.

These are passive funds that are able to vote all of these passive shares being held. I don’t even think this should be legal. And it is right. Again, Musk called them corporate terrorists. And I think that’s a very descriptive, actual accurate description of what ISS and Glass Lewis are. And they should be run out of town on a rail. They should not exist. But they do.

And they’re just, they’re destroying honest and free corporate governance. And this is why Elon Musk’s first compensation plan was not approved. Right. In addition to the Delaware, which, boy, they’ve really screwed up their entire corporate system, haven’t they? Lost so much business. Texas, thank you by the way. But again, vote for Musk. I try to write as much as I can up this morning. As far as the stock itself, again, I think I’ve been pretty clear here.

You know, this is the one to own as far as the market goes. Again, we’re as, as, as we heard from our friends at Stock Traders Almanac. You know, we’re in that weird part of April of October, October phobia. This is when you see this kind of volatility and these kind of shakeouts and they just wind up being an opportunity for the big move higher into year end, which is exactly how we see. All right, not going to cover the rest today. The internals and all that, they weren’t bad by the way. Today the sector watch, none of that was bad. Gold recovered of course a lot today.

Gdx, of course. GDX closed flat on the day after, you know, getting tagged 50 day. So these are opportunities, that’s where you continue to approach them. And we’ll. We’ll. We’ll all be, uh. We’ll be all. Be feeling better as we head into, uh, the.

[00:31:39]:
The, uh. I think in the final, final couple weeks of November into, uh, into December. Uh. It’s going to be a good Christmas, folks. It’s going to be a good Christmas and an even better 2026 for all the reasons we talk about a lot with you here. All right, folks, appreciate you listening as always. Have a great night. We’ll see you back here again tomorrow after the close.