In today's episode, Kip returns after an action packed few weeks, sharing stories from recent travels including an adventurous trip to Alaska and updates from his team’s visit to Snowline Gold in the Yukon. Diving straight into ...
Don’t look back because the market is closed. Good Tuesday afternoon, everyone. Kip Herriage here with the daily VRA investing podcast. Hope you had a good day today. It’s been a little bit of crazy at a couple weeks here at the Herriage household. We had a great fishing trip to Alaska. Then we’re scheduled to go up to Snowline Gold in the Yukon and visit them, which yours truly wasn’t able to make that trip because I lost or had my passport stolen. Thankfully, Tyler and Sam had theirs.
Made the trip. I’ll be taking the next trip up there. They do these, these about once every quarter or for analysts and for certain investors that, you know, major investors in the company. But Tyler and Sam had a great trip. They’re, they’re on their way back now. Sam’s actually going to spend a little time in Canada and do a little traveling there before he comes back. But anyway, it’s been, it’s been, it’s been a great, it’s been a great year. Has it not today.
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So much to talk about. Let’s see, we can get covered here in just a few minutes. All time highs Today in the NASDAQ, Dow Jones SPF 100, the big three. Right. All hit an all time high today. I think that’s called bullish. I think if I remember correctly from my, my, my, my, my trend following books from Mike Covell and my technical analysis book from Stan Weinstein, I think that’s called bullish, if I’m not mistaken. And, and what a day for it to happen on.
What a day for it to happen on. I am just amazed, utterly amazed. And I, you know, I share this with you often because I think, I think frankly, here’s for the deal. I think that, well, first of all, done this a long time, done this four decades. That certainly helps. But I think the fact that we’re not in New York, you know, we’re not in the, in the center of the forest. We can see the trees being here in Texas. And I just am, I’m constantly amazed by the number of people that are bearish on this market.
It is absolutely stunning. And I’ve talked about this so often about this psyop of negativity. It’s very real. It’s extraordinarily real. We saw another example of it today, did we not? Here comes. This is something the bears were really hanging their hats on. Here comes the, the Bureau of Labor Statistics and their annual revision right. Of jobs.
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And what did it do? It came in with minus 900,000 jobs removed. From what they had said were job creations under the Biden administration. Folks, that’s a total of close to 2 million lower revisions over the past three years of the Biden administration. I cannot tell you the number of people that I’ve heard from this. You know what, listen, this revision is going to really wake people up because you can’t, you can’t. You, you, you, you, you have to admit it. The economy’s slowing. You have to admit we, it looks like we’re going into recession.
Look at the jobs market, labor market is so clearly weakened. How can you not see this? We, like, people are like, they’re kind of yelling at me like, how do you not get this? What are you not seeing? And I’m like, look, I believe the stock market is a leading indicator. It’s a discounting mechanism. It’s the best one we have. And the market’s telling us something very different is happening here. And so because of all the negativity and of course, you know, so many people, and I think rightly so, about the tariff issue, getting a lot of emails about this, and they make perfect sense. Look, if Trump’s tariffs. By the way, we just got word on this just afternoon, the Supreme Court has agreed to an expedited review of the tariff policy.
And I think Scott Besant, Treasury Secretary, made this, made this even seem more important because he filed the statement with the, with the Supreme Court saying, yeah, this is big time, this is trillions of dollars we’re talking about that will not come into the US Economy, into the, the treasury unless this is allowed to stand. So that’s it. In, in a way, made it a bigger deal than it is. Remember, folks, now I just, I have this total because Wayne and I just wrote a piece today that appeared in, in a syndicated column with Gateway Pundit today. It’s the second one we’ve done together. Love, love doing this with Wayne. Basically, you know, we come up with the topic. This one was great because, you know, we’ve been saying here at the very now for some time that within, initially, when we started saying it about three, four months ago, we said, you know, within a year that the US GDP growth would be over 5%.
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And then it’s higher still, right? And so today, when, last night, when I finished the piece saying that in the next six to nine months, right, to adjust for the, when we first said it, that U.S. gDP growth would be in excess of 5%. And I just broke it down exactly why that was going to happen point by point about what’s actually happening in the economy. What’s actually happening with the Trump economic miracle, which I was proud enough to name in 20, actually mid-2016, when I wrote my book Crash Through Prosperity, Because I think it’s exactly what this is. This is the Trump economic miracle. The combination of deregulation, massive deregulation, folks, and this, this gets. So, this gets talked about. So very little.
Everyone knows about his tax cuts, but now that people are discounting those. Right? Oh, these are the same tax cuts that were in place before. We’re just going to be able to make those permanent. Yes, that’s true, but how. Look at the, look at the. And there are, by the way, other. Other parts of tax code that are brand new. So that gets, you know, that gets conveniently overlooked, does it not? So, yeah.
So it’s tax cuts, deregulation, and tariffs. And this is what so many have gotten wrong. And again, sip of negativity, right? How, how often do we hear. But all of the economists are telling us that this is going to be inflationary and it’s going to be bad. It’s a tax. It’s a tax. And what’s happening, We’ve seen barely a bump, barely a bump in inflation. Now you can say, yeah, Kip, we have to.
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We have seen a bump, but who cares? We’ve been lied to about inflation for my entirety of my career. Everything the BLS essentially puts out has been a lie. We know that inflation has not averaged 2% a year for two decades. That’s what the Federal Reserve tried to tell us in one of. One of the ultimate con jobs and snow jobs that they tried to tell us that inflation is only running 2%. We all knew that was a lie then, right? So what does it matter if. Yeah, if inflation bumps to 3% from where was it a low of 2.4? Big whoops. Does anyone care? No, because it’s always been a lie.
Okay, so bottom line is the Trump economic miracle, the combination of these three powerful ingredients, plus, plus now the innovation revolution, which is the dominant theme. It is. It is. If you had to pick one dominant theme, as powerful as Trump’s economic policies are, and they are, there’s nothing more powerful than what’s happening right now with the innovation revolution. That’s the thing. And I would encourage everybody to do a search. We used to. We sent this out a couple times here at the vra, but Cathie woods, she gets, you know, she gets a hit pretty hard, I think, rightly so.
Their stock picking has not been great. Their overall Returns have been abysmal for the last several years. Of course they’ve also had some very hot streaks. But where they’ve done great work is their macro work on the, on the economic situation and the growth coming from the innovation revolution. Most people call the AI revolution or the AI boom. But see that they’re missing this and I’m surprised more to understand is this is so much greater than just artificial intelligence yet that might be the backbone of what’s happening here. But we’ve got technological innovation that we’ve never before seen. Variety, right? This is far greater than what we saw during dot com.
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This is more than just the Internet and dot com stocks. This is throughout the entire US and global economy. I think that’s the primary theme. And by the way, that’s also why inflation is going to be not a concern. Because what does innovation do? Massive innovation brings prices down in pretty much every category. We’ve only seen that evidence. Again if it wasn’t for money printing we wouldn’t have inflation. Money printing of course is the very definition of inflation.
But the innovation revolution is going to bring, continue to bring major disinflation. This has been one of our themes. We’ve talked about you now for about three years and again if it hadn’t been for the money printing from the pandemic then we wouldn’t, we wouldn’t even be having a conversation about concerns about inflation. Right. So trump economic miracle, innovation revolution and then another huge one. Again this just does not get talked about enough. We talk about here all the time because it’s so vitally important is the amount of liquidity. It is unprecedented.
It is absolutely unprecedented. Again, just a few bullets, okay. $34 trillion in home equity, are you kidding me? $34 trillion. By the way, home equity is down. 70% of all of the value of homes is now. That’s the equity. 70%. Only 30% left for the average homeowner to pay off on their home.
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40% of homeowners at home, their home outright, they have no mortgage. Right. We know the MT money supply is at an all time high 22 trillion. We, we know that 7 and a half trillion of that is in money markets. Again, ultimate just pure liquidity. Right? So you know, again, liquidity is just driving this bus as well. And that’s why every time we get a dip, what happens? The market stabilizes. We’ve had some big shakeouts no doubt, but what have they been? Short term, short lived.
And then the money flows in. Retail investors have exactly right about this. So that’s really what. What Wayne and I wrote about. Again, we expect. And again, we’re on record this sometime, that we are in the golden age of prosperity. I think that people that don’t see this, again, I don’t understand that. I think it is a slap of negativity.
You’ve just been so pounded on the table into your head, right, that things are horrible. The economy is horrible. People have never been struggling more than they are now. And I’m like, okay, I get the second America isn’t doing great, even though I think that’s overblown. Okay, I think that’s. How many times have we heard that the average American only has, like, one month of liquidity in case they lose their jobs? We’ve heard this for three decades. I never believed it then. I certainly don’t believe it now, because everything we’re talking about here.
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But could the second America use some help? Absolutely, they could. And that’s why rates have to come down. And that’s what. That’s where we come back and make this full circle back to this BLS jobs. And just again, Trump was exactly right to fire the head of the bls. It should have happened long ago, but again, now the guy’s gone. And I’ll tell you what I love. I think one of the things I love most about this administration, they know that they have a mandate.
They’re governing as if they have a mandate. And while they don’t ignore the mainstream media and they don’t ignore the, you know, the, the propaganda being thrown at them, you know, they, they answer questions fully, and they. They seem very patient with these ridiculous questions that come time and again, but they know they have a mandate, so they’re just plowing ahead. That is what we wanted to see Trump do in his first term, was it not? Yes, it was. And now he’s doing it. I’m talking specifically about the economy. They’re just. They’re just moving forward at breakneck pace.
And so the Fed. Now, the next step, of course, is what Trump’s been doing is putting maximum pressure on the Federal Reserve to cut rates, even going after, you know, Fed governors, mortgage fraud. I mean, what kind of a ship is Jay Powell running over here? This guy should probably be investigating. What is Jay Powell done? Maybe he’s hired people just like him. Maybe. Maybe Jay Powell’s got these own issues in his background, because clearly they did very little background research and due diligence into the fed government. Only 12 of these people. All right, Only now the real Question.
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Next question is how about these regional governors? There’s a lot more of them. You know, they don’t even come before the Senate for approval. They don’t come before Congress for approval. They’re just appointed. What’s going on there? So there’s a lot of things this Federal Reserve is going to have to answer to. Massive overreach. We’ve all seen this happening. Look in the Fed, right? Ron Paul was right long ago, but the Federal Reserve, right, the Fed funds rate today should be 3%.
This is what Trump’s been pounding the table on. He’s exactly right. And folks, guess what? That’s where it’s going. The market knows this now and that’s where I’ll come full circle. If we gotten this bad news, okay again of 911 thousand jobs being removed from the revised lower from the initial reports again during my administration. Of course, if we’d gotten that and it was a shock to the system and the, and, and, and the markets again as a discounting mechanism, the markets realized, holy, this is horrible, right? This is what again, this is what the Perma bears really had their host pegged on, that this is going to happen. They thought the markets were going to tank on this. I saw people saying watch, watch out.
But everybody, we’re in September. Seasonality is horrible. Everybody’s too complacent. When this news hits of these revisions, it’s going to wake these people up, it’s going to wake the markets up and we’re going to tank. Look for 500, a thousand point plus move lower. What happened? All time highs across the board, right? And so again the markets, it’s never the news that matters. It’s always the market’s reaction to that news as a discounting mechanism. And that’s why we pay attention to it.
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That’s what trend followers pay attention to. It’s always the reaction, it’s not the news. Again, all time highs today. So look, this is the markets know what’s happening. The Biden days are behind us. We are going to 5% GDP plus. This market is just beginning to melt up. Beginning to misses the beginning folks.
This is early, early stages and if I could be so bold, I could be so bold. I’ll just say this, you’re not bullish enough. I don’t think I’m bullish enough. And we’re on record, you know, three years now saying the doubt. This is the bull market takes the Dow Jones to a hundred thousand. Well, you know, we’re at what, 45, 700 today. I don’t think I’m bullish enough. I think, I think, I think we’re going to go through a hundred thousand like knife through butter.
And I think this bull market is going to extend. This is a generational bull market, meaning we going past 20, 30, it’s not just the roaring 2000 and 20s. And you might be saying, kev, just move on. You have no idea about this. I kind of do. I’ll tell you how I think I kind of do. Again, four decades of doing this, okay? And one of the things I’ve gotten very good at is noticing important trends. And I think the most important trend, because I’m also a karma person, I think the most important trend that we can, we can think about here.
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Again, we talked about this a lot with you the last few years. At least I have. It’s kind of a personal thing for me. We’ve had the worst two decades in American history since 9 11. And I’ve had this conversation with so many smart people smarter than me. And within about 10 minutes I’ve got. Not a single person has said to me, you know what? Yeah, yeah, you are right. Not a single person has said, you’re wrong.
Everyone agrees because just look at the events that happen. I’m not going to cover those here. Now, I’ve done that plenty in the past, but I think we’re due for two great decades. I really do believe we’re due for a couple of great decades. And this is the golden age of America. And I get, I’ve never been, I’ve never been more bullish. I’ve said this many times. This is, this is that bull market, folks.
And there’s an opportunity here for the open minded. Realist, I believe not, not an optimist. Not, not, you know, rose colored glasses stuff here. If you’re a realist and you’re willing to look past the, the propaganda of the mainstream media in this psyop of negativity, open your eyes and look what’s really happening. And I think that you could say, you know what? I think Kip’s got a pretty good case here. Look, I don’t know about 20, 35 and all this stuff. You know, he’s long term bullish. But I think at least this, the roaring 20, roaring 2000s, you know, I think, I think that does work.
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And look, at minimum, let’s agree that that’s where we are. Which means these dips continue to be buying opportunities. And again, innovation, revolution, ocean of liquidity. Oh man. You know I just, again, I’m not bullish enough. I know you’re not bullish enough because I don’t think I am either. All right, what else today? Let’s look at my notes here. Okay, so yeah, this is pretty interesting.
I’m just going to touch on this here briefly. I’ll write it up tomorrow morning. One of our holdings is GameStop. Okay. And by the way, I just have to make this point about, about Snowline Gold because I didn’t get to finish that conversation. I know, I know we have a lot of listeners here that aren’t with us here. As a VRA member, as you’re a subscriber, hey, that’s totally your call. It’s your money.
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I don’t understand. I think we’ve got a great community, should be here. But, but to finish that conversation, this is going to be. What’s the best way to say this without coming across like a complete hack? This is from here. From here this is a 10 backer which means it’s an 80 stock. Stocks just under 8. It’s a 10 bagger. From here.
I may not have been on the trip but I just sit in on there. They, they, they hooked me up via Microsoft. What do they call theirs? The Microsoft. It’s not Zoom, whatever Microsoft calls theirs and had a three hour meeting to go over their, their new deck which by the way they’re presenting at this week at two gold conferences. Okay. Kind of the coming out party. And this company is very conservative. There’s no hype or ego.
These are, these are salt of the earth people. An extraordinary father son team. Again, I talked about this a fair amount but I just think this is going to be, I think this is going to be. Will it be bigger than Ivanhoe mines? We, we made 1400% there in 18 months. That was a pretty good one. We made 14 times our money in 18 months. I don’t know we’ll do that in, in 14 months here. But I think longer term this stock again is a 10 backer.
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From here I believe they’ll either be bought out. They’ll either be bought out or this stock is going to 150. That’s what I think is going to happen and I think that we’re going to find out that the reserves they have in the ground over this close to 1 million acres of virgin territory in the Yukon where they’re fighting. What was it? 39. I think it’s 39% of their gold in the first 20% of the, of the, this is Essentially surface gold. Right. It’s very shallow, but they’ve only explored less than 5% of the total 1 million acres. You understand what I’m saying? Now they’re, they’ve got five big drill crews out there right now and they’re hitting some of these other areas.
But there’s just so much to explore. It won’t all have a lot of gold, but a lot of it is going to be full of gold like what they’re finding so far. So in addition to the 7.44 million ounces they found. Yeah, I think, I think that number is going to go up handsomely. If they started production today, this would be the third largest gold producer in Canada. This company’s been around four years folks. Founded in 2021. Stocks already gone up 4,000% from the when they did the reverse merger in 2021.
So again, it’s a great story. It’s the kind of people you really root for. Getting great father son team. They’re hiring people. The team is made up of people like them. They pay a lot of attention to that. You have to care about not only building something special, being successful, you have to care about the land. You have to care about doing the right thing.
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This is Indian land by the way. So you know, Native American. So they’re very careful about all that and they’re in their blessings, in their good stead. So again, it’s a fascinating story and it’s the kind of people you really root for. And we are of course aggressively long here. And as you know, gold, gold today hit another all time high. $37 an hour, 3, $700 an ounce for the first time. And which is all, all great.
I mean our, our cycle high is 8 to 10,000. As you know though we’re likely going to raise that had been 8,000. Now it’s 8,000 to 10. Again we’re doing a lot of work on this behind the scenes. We’re, we’re kind of knelling down our background information. The contacts we have. We have some pretty good contacts on this. People are telling us that Trump and Bessant have something big planned for gold.
And then it likely. There have been some stories about this. I think there were leaks. I think there were, there were leaks to prepare the public for this. So people are smart money investors that can read the tea leaves, get a sense of what’s coming so they can get prepared for it and get positioned for it. And I do believe that then this the only question I have really. I believe this is going to happen. The only question I have is will it happen before the midterms? Because it’s going to be a bit controversial.
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Because if I’m right about this and what we’re hearing, it’ll be a combination of gold, primarily gold, but gold and bitcoin that will be used to back a massive new treasury offer at an extraordinarily low rate of interest compared to where we are now, let’s say hypothetically. Hypothetically to say that the government could raise $30 trillion. Okay, yeah, I’m talking big at 2% interest. Let’s say it’s 10. All right, let’s say, let’s don’t get over our skis too much. Let’s say the government wants to raise $10 trillion through a tranche of offerings at 2% interest. Right? Versus long term, long term, not, not short term debt, which is how they’re funding most of their operations today. Again, the 10 year right now is 4.07%.
So you can do it a long term offering at 2% with the bonds backed by to some degree gold and bitcoin, maybe a basket, maybe some silver too. Again, these are, these are all things to be determined, but these are the conversations taking place. I don’t think it takes rocket scientists to realize what’s going to happen with gold or bitcoin when something like this takes place. Because what I think is being missed about this. And again, this is, this is a conversation people are having, but I think it’s being missed is that the US leads, the world follows. If we do this, the rest of the world is going to do this. And now you’re talking about a $20,000 price target on gold. 25 maybe.
Look, we’ve already got big price targets on, on bitcoin. Obviously we believe bitcoin is going to a million dollars. 2032 I think is when bitcoin will be at a million dollars buy. So, you know, look, it’s a 10 bagger from here, okay? Close to it in seven years. So again, is it, is it a reach, a stretch to say that gold can go to 20,000? No, because gold has been again, missing so much in the conversation. Gold has been manipulated lower for so many decades. Not years, decades, that if just the manipulation ends, gold must go higher. And that’s what’s happening here.
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The manipulation stopped. Why is that? Because there’s a new sheriff in town. And because most of the manipulation was coming from major money center banks and the Federal Reserve. Again, they’re the ultimate insider. They know what’s coming. They know it’s not appropriate or smart to continue to short and do it again. These are illegal shorts anyway. So again, that manipulation is ending.
Now obviously, if you know about this, that means essentially every central bank and every government does in the planet again, they’re all buying record amounts of gold. Oh, I thought my recording just did. Apologies. I was about to, to, to record a second, a second part of it there. Here we go. So yeah, in addition to gold doing that again, imagine what the miners are going to do. Okay, just imagine what the miners are going to do. This bull market has not started for the miners.
I think they’re, I think they are in the first inning. I think they’re in the first inning. Gdx of course, now finally hitting all time highs. But it only took 14 years. Finally breaking through the 2011 all time highs. GDX now at just under $67 a share. It is fascinating. The total market cap for GDX is $20 billion.
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Can you imagine? This total market cap for all the gold miners is $20 billion. In GDX today, GDX traded 24 million shares. Believe it or not. That’s, that’s a lot. It is insanely crazy to me. The 10 day average now is up to 22 million. It had until recently the volumes picked up, it would have been like 18, 19 million shares. But when this group gets going and just take this to the bank.
Take it to the bank. When this group gets going, we’ll have every day will be 80 to 100 to 120 and then 150 million shares traded every day and then more. I know that because we already did that back in the last bull market. So yeah, Snow Line Vista Gold, physical gold and silver or phys if you want to own that instead of, you know, storing physical gold. We’ve covered this a lot. We covered a lot because it’s that important and it’s, it’s, frankly, it’s there. I think that there are some very simple things any person can do. You don’t have to have a portfolio of.
We never own more than like 15 holdings. Okay? You don’t even have to do that. Honestly, if you own physical gold and silver instead of cash, you don’t want to have, get, get, get out of the mindset that you’ve got to keep a lot of money in cash. You do not. That is a huge mistake. That’s a rookie move and you must change your mindset on that immediately. We’ve been, you know, instructing this for, since 2003, when I first recommended gold and silver, of course, but it’s still, still very much the same. Again, gold and silver are going to keep going higher.
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And if you own gold and silver, again, physical or phys. The, the Sprott etf. Physical etf. And then you own Bitcoin and then you own Tesla. Must own. And then you own a couple of our miners. You know, I, I do think you, you want to, I think you want to, I think you don’t own, you want to own both Snow Line and Vista Gold, you know, and that’ll change. I mean, Vista Gold is going to get likely bought out.
You know, they’re gonna, they’re probably gonna sell their play here in the next year, maybe less. And then we’ll, we’ll look, we’ll look for another home. And then Stowline will be our play for several years along with whatever we pick next. We, we’ve got some, some other good candidates in mind. But I think again, if you just had a portfolio of things like what I’ve just mentioned, I think you know you very, very well. I think you can do very, very well. Also today, GameStop announced earnings. I’ll cover this more tomorrow.
Pretty Fascinating. Stocks up 6% after hours. Again, it’s less. Still less than 25 bucks a share. Stock’s really done nothing since they started raising all this money. It is, we’re along the stock. We haven’t, we haven’t sold it. We’re down, I don’t know, maybe 3 or 4% on.
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I think our cost base is like 25. So we’re right there. But you know, in this bull market, when you’re not making money in something, it’s a mistake. You’re on. If you’re not making money in the investment you’re in, you own the wrong stock. And that is something, believe me, we’re, we pay a lot of attention to. But, you know, Ryan Cohen’s got something up his sleeve here. I really do believe that.
And we got a sense of that today, didn’t we? You saw the earnings. Pretty fascinating. They blew away, blew away both estimates for revenue and for earnings. Let me see, I’ve got this right here. Revenues rose by 22%. All right, that’s on these GameStop stores only, right. Doesn’t include their Bitcoin position, which is about $500 million. A lot of disappointment that frankly, because they raised a billion and a half just to go into bitcoin.
They’ve only invested 500 million of that. But anyway, Ryan Cohen clearly is not a bitcoin person. If you’ve watched his interviews, only did a couple of them. He’s on Charles Payne job. I’ll be on Charles Payne show later this week. I’ll be on Wayne show tomorrow night, by the way. And, but if you watched when Ryan Cohen was on Charles and, and the interviews he’s done, I think just a couple of them, you know, he’s like, yeah, we’re in Bitcoin because, you know, okay, we’re checking it out. They’re definitely not diamond hands when it comes to bitcoin.
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So there’s a bit disappointed about that. But again, look at the, again. So the beat on revenue, they came in $972 million for a revenue for the second quarter. Estimates for 900 million. Right. And they beat on earnings significantly, by the way. Significantly. So they’ve really cleaned up their, their.
They also, this is what’s interesting, they’ve really cleaned up their, their house. They also announced that all common stockholders as of first week of October will have, will be given warrants. For every 10 shares you own in the common stock, you’ll get a warrant that warrants exercisable at $32 a share essentially for a year. Now on the surface you go, okay, look, if that happens, Stock goes to 32, everybody exercises their warrant and that raises like another 1.5 billion for the company. That sounds okay, like, all right, it’s not a huge deal, right, but it’s, it’ll help. That’s not why they’re doing it. They’re doing this to smoke out the shorts. I’ve been, I’ve been part of a few of these and I believe that what’s happening here is they want to get the illegal shorts to be forced to cover.
And these warrants are a way to start making that happen. I would think they’re going to do a lot more of these warrants. I think this is the beginning. It’s like their debt issuance. Again, their total market cap of Gamestop. Now let me get this exactly right for you, all right. They’ve got just over $9 billion in cash, right? With these zero coupon offerings they’ve done. So they’ll never make an interest payment on this debt.
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It’s exercisable in the stock, I think Most is at 32. But the total market cap of Gamestop right now is 11 billion. So it’s only 2 billion more than total cash. I mean, it really is a fascinating story. This is financial engineering. This is what’s happening and it’s happening throughout the economy now. It’s all, it’s the beginning of it again. This is the beginning of it.
You know, Bitcoin, tokenization, digitalization, this is all just beginning to happen now, I believe Cannon Fitzgerald came out today. It was Canter Fitzgerald, Howard Lutnick’s old firm came out today and said that they’re going to come out with a, an offer that they’ll have bitcoin backed by gold. A bitcoin fund backed by gold. Again, more and more this is going to happen. Financial engineering is a big, big part of our theme of the big bribe. Of course, one of our, one of our five megatrends and that’s what GameStop’s doing. Here they are. There’s no one doing what they’re doing.
It’s a fascinating story. That’s why we kept our long position again. Stocks just below 25. We’ll see. Stocks up about just under 6% as I said a minute ago. So it’s very interesting what’s happening here. I think it’s all just beginning. They really want to get a major short squeeze going here.
[00:32:39]:
That’s what they want to do here. Okay, what else today? Let’s take a look under the hood and let you go again. Very good day today. Internals. Honestly I didn’t even run all these. I kind of forgot we had just had a miss actually. Internals came in negative today. Is this right? There’s a late adjustment here.
Yeah. Advanced Decline NYSE. It’s not 2 to 1 or anything but we’ll call it like NYSE 1.5 to 1 negative in NASDAQ 1.3 to 1. Volume was different. Volume was right at. Right at 2 to 1. Positive for NASDAQ. We’ll call.
Volume was positive. You want to see? But just barely. But we did have. What is this like 300 more stocks hitting a 52 kind of 52 week low. So good readings there. Sector watch today. Also very strong today. Sector watch, here we go.
[00:33:30]:
Eight sectors finished higher, three finished lower. Led to the upside by Communication Services, Healthcare, Utilities. The downside, materials down 1.5% on the day. Again the materials groups are very hot. Gold and the miners again, I didn’t say a second ago but been very hot. Also very overbought. Also very overbought. They’re extreme overbought.
Okay so this is not a reason to sell and take profits unless you’re really short term trader. I wouldn’t do that. It’s a time to pause your buying. It’s a time to be patient. Don’t, don’t, don’t add to positions here aggressively because they are, we are. This is typically when bad things happen, right? You know, I love the group. I’m just telling you this is typically when you get a shakeout. We’re hoping for that because then in our parabolic options program we can go back in once again and buy GDX calls and some other things we’re looking at right now.
That’s it is overbought. The market’s not, by the way. Everything’s pulled back. We got a little reset going on here. That’s what, that’s what, you know, this, this a little shakeout. We’ve had bearish seasonality for September because concerns about the BLS data today and we saw that worked out right? But look at the call ratio today. Today opened at a 0.99. Close at a 0.84.
[00:34:45]:
We’re at all time highs, folks. And the book call ratio today averaged about 0.9. Okay, that doesn’t work. That doesn’t make sense. Again, the bears are squawking and squawking fear mongering about these jobs data. We’re going into recession. The job. The labor market is in trouble.
Kip, what are you looking at? What’s wrong with you? Why can’t you see that it is just, it is rich. I got to tell you, they’re just wrong because they’re listening to the media. If you’re getting your views because you watch CNBC and Bloomberg and, and any other network, frankly, if you’re getting your views from there instead of from looking at the things that matter, we talk about those things here today on our podcast and what we write up. This is why the VRA system is it it. We’re all very close to 10 of 12 screens. Bullish. We’re still at 9 of 12. Only because it’s September seasonality.
Ridiculously overbought. But I think that, I think by the time we get into October, I would expect the VRA system is going to be 10 to 12 screens. And again, this is all. It doesn’t matter that much. It’s not 10, 12, 10 or 12. This is Back at the truck territory. Understand this, right? This is not a time to be worried about your investing position, your investment positions in the stock market. That much I can tell you.
[00:35:56]:
All right, what else here? Commodities. Gold today was down 7 again. All time high. Now reversed lower 3664. Today’s high was 3714. Silver today 4150 just down less than 1%. Copper today up three quarter three tenths of a percent. 457 a pound.
Crude oil today bouncing up half, half buck a barrel plus eight, plus eight tenths of 1% at 62.78 a barrel. And finally, Bitcoin 111,453. Right. Now again, you know we’re long term bullish. This is just a consolidation period and we’d use this to buy it. Looks very good. We’ll have more on that very soon. All right, folks, that’s it for the day.
Hope you had a great day and even better night. We’ll see you back here again tomorrow after the close.
In today's episode, Kip breaks down the day’s market moves and zeroes in on what’s driving investor sentiment right now. In this episode, Kip explores why oil and the situation in the Strait of Hormuz remain at the heart of market volatility, sharing his thoughts on media narratives, the potential for lower oil prices, and the international power plays influencing the global economy. Kip also digs deep into the power of seasonality, noting that while the last few weeks have been muted, historical patterns point to a strong melt-up in March and April. He highlights the ongoing tech leadership especially from semiconductors and walks listeners through the crucial “first in, first out” indicator, which signals that a new rotation into tech, software, and Bitcoin is underway. Tune into today's podcast to learn more.
In today's episode, Tyler breaks down a wildly eventful start to the week in the markets, picking up where Kip left off with yesterday’s big reversal day. From the latest on the ongoing conflict in Iran and the impact of geopolitical headlines, to lessons learned about market psychology (including why you should never sell on a Monday), Tyler Herriage navigates through the market’s volatility and shares key themes like liquidity and optimism in the face of fear-driven narratives. Tune into today's podcast to learn more
Welcome to the VRA Investing Podcast! In today's episode, host Kip Herriage dives into a whirlwind Monday in the markets, sharing insights and lessons from historic trading days, including the infamous crash of 1987. He reflects on the wisdom of his mentors—especially Ted Parsons and his adage "never sell on a Monday"—and examines how those lessons hold true even amid today’s high volatility.
In today's episode, Kip breaks down a rocky week in the markets, spotlighting the surprising fact that in spite of heightened volatility and the backdrop of war the S&P 500 closed down just 2%. Kip digs into the main forces driving investor sentiment: the impact of surging oil prices, geopolitical tensions centered on Iran, and what he calls the “4D chess” of Trump’s strategies on energy and the Middle East. You’ll get his take on why negativity dominated the headlines, the role of the Strait of Hormuz in global energy markets, and how all eyes are on oil as the primary driver of this market pullback. Kip also examines the unusual behavior of interest rates in times of conflict, analyzes the technicals and market internals, and shares his high-confidence outlook for what could spark the next major move higher. Tune into today's podcast to learn more.
Welcome back to the VRA Investing Podcast! In today’s episode, Kip Herriage is here to break down a whirlwind Thursday on Wall Street and share his unique perspective on what’s really driving the markets right now. After a quick shoutout to his son Tyler and a nod to his recent appearance with Grant Stinchfield on Real America’s Voice, Kip dives into some of the hottest topics affecting investors—from the surprising rise in interest rates during a time of war, to the rotational action in software and tech stocks, and the persistent strength of gold and silver despite today’s dip.
