Welcome to another episode of the VRA Investing Podcast with your host, Kip Herriage! After a brief break for an exciting due diligence trip to explore a unique private mining company, the VRA team returns with a jam-packed episode covering the latest market developments and insights. This week, Kip Herriage dives into the ongoing front-running of Q1 earnings, highlights a record-breaking streak in semiconductor stocks, and shares bold forecasts for the remainder of the year, including the impact of the innovation revolution on Wall Street.

Don’t look back because the market is closed. Good Friday afternoon everyone. Kip Herriage here with the daily VRA investing podcast. Hope you had a good day today. Hope your week was fantastic as well. We’ve been gone for a couple days. Whole team, myself, Tyler, Sam and Josh all went on a due diligence trip to look into a mining company. Actually the boys found and discovered this and we’ve been getting to know the company, you know the old fashioned way with just reading up on their investment documents and then everything.

It’s private company and then we went visit with them for a couple days. I got to tell you, this is, this is without question this is the most unique mining company because of how they do it, what the processes are and the team behind is really very good. And, and so I think that we’ve got another week or so of due diligence to do. But I would expect that if you’re with us here in the VRA as a VRA member, you’re going to see us announced a VRA members only zoom sometime probably in the next week to 10 days, something like that and we’ll introduce you to this company pre ipo. They’re going to be ipoing some point in the next six to nine, ten months, something like that. And we tend not to bring you things that aren’t don’t at least have a 10x assigned to them. So yeah, this got a lot of potential, Great, great company. So we’re looking forward to possibly introducing you to that in the next week or so.

Again another here are the topics. You got a lot of topics today. I would go very fast. Front running of Q1 earnings continues now we’re into Q and earnings. You saw intel today. We’ll talk about that. We, we, our theme of the last six weeks really when we said we thought that the, the war lows were in was that front running of Cuban earnings would would begin. That would give us a constant bid.

Short covering would be another big theme to, to again give us a foundational bottom for the, for the shakeout correction we had and that with this rotational thing back into growth, back into momentum was directly ahead. Folks, that’s exactly how this has played out here. I guess one of the advantages of doing this for 40 years and having a great team that we, we don’t miss a whole lot when it comes to these major themes. We tend to get those just about right. And I think we have here next week by the way talking about Q and earnings, intel, et cetera, earnings of course are off to a fantastic start for Q1. Earnings are coming in now 8% better than the estimates from just what, two weeks ago. So the analysts were really on the wrong side of this. Our estimate from the beginning of the year was that for the full year that earnings would grow 18 to 20%.

[00:02:53]:
I think we’re going to be on the low side. When we said 18 to 20%, the street was at 11%, maybe 10, 10 to 11%. We were at 18 to 20. Now I saw, I think I wrote this up on Wednesday, Wednesday morning’s letter or Tuesday Morning’s letter that J.P. morgan just upgraded their estimates. They’re now saying for the full year, 22%. So that’s the environment we’re in. And it’s now looking like this is again, I, I, I, I said the beginning of the year.

I wrote it up and I put it out on Twitter. Got a, I got, I got a lot of pushback on this. That this would be the first year that the innovation revolution really introduced itself to Wall street. Right. This would be like the breakout year of dot com, folks. It, it’s here we’re, we’re by again. Next week is gonna be a lot of fun. Check out these earnings again.

This, this move higher. Right? Another good smart money hour. Semi is now up 18 straight days. It really is crazy. Semis are up 47% in 18 straight up days. All right, that’s never happened before, in case you’re curious. No, it hasn’t. There have been a couple of similar situations and guess what? They just kept on going.

[00:04:03]:
But again, they weren’t quite this level. But as we shared this morning in our chart of the semis, yeah, we’re an extreme robot, but we’ve been near this level on the very system of extreme overbought on steroids. We’ve been near this level three other times this year. And all three, again, not this overbought. We are supremely overbought. Whatever, whatever is, uh, whatever’s extreme. We’re about on steroids. On steroids.

That, that’s where we are. It’s, it’s certainly a danger. I’ll say this, it is absolutely that question a dangerous time to be adding to the semis unless you’re adding to your Nvidia position. This is, this is a long term core holding of ours, right? It’s one of our 10 baggers. And today it was up 4.3%. So again, still, semis were at 5% today. So Nvidia is still underperforming. We think that’s about to change.

They, they, they report earnings on May 20th. But yeah, it’s a, it’s a dangerous time to be aggressively adding to positions here. But again, at the end of the year, it’s just not going to matter. This is going to be one of those years. Standby. My forecast of 30% gains for S500 by year end. 50% gains maybe 40. But you know, I’m a bold guy.

I still think 50% NASDAQ gains by year end. So we got a little ways to go. As of the close today, Russ 2000 is now up 12% of the year. Nasdaq’s up 8% of the year. S500 up 6% on the year. So yeah, we got a ways to go. But this is what’s happening next week. This is what we had to look forward to.

[00:05:34]:
It’s gonna be fun next week. By the way, on Wednesday we have Microsoft, Amazon, Meta and Alphabet. Just on Wednesday alone, Thursday, Apple and then Friday, two companies that we’re going to be watching closely here because we’re looking for another opportunity to get back into energy with our, with our Leverage ETF program. And it’s XLE. XLE, of course, the Energy ETF. Friday we get the earnings reports from Chevron and ExxonMobil. And I think that these stocks look, check out the charts. XLE is way off the highs, right? All these major energy players are well off their highs of just, just a month ago.

And really that was one of our tells, right, that this war was ending or at least the worst of it was all of a sudden energy stocks started going down not by a little bit, but by a lot. And of course the other big tell for us was futures. You know, oil futures. Even when oil was 119, the futures never got above like 76, 77 December futures for, for energy, oil, oil contracts. And so that was another tell that the markets was, were discounting the end of this war. But anyway, next week should be good from an earnings point of view. And again this run, this run really should continue. Again we get, you get a one or a two day little shakeout and in these kind of bull markets, these, these melt up kind of bull markets, make no mistake, that’s what this is.

But you get a couple of days, yesterday was a shakeout day. You get a day or two like that all of a sudden now. So stochastics goes from extreme robot backs off, everything backs off a little bit. And in this kind of a market, that’s all you need. And why Is that for the same reasons we’ve been talking with you about here now for a couple of years? Actually about four years. It’s the innovation revolution has arrived, right? And now with the Trump economic miracle you got, these earnings reports are just going to be fantastic. But it’s not just for a quarter or two quarters. It’s going to be for years on end.

Right? One of our five big bride megatrends wrote the Big Bribe in 2022. Tyler and I did. We researched it for a year, couldn’t believe what we were finding. We weren’t hearing this stuff anywhere. It was just these, the foundational strength of the market, the structural strength of this, of this market and the economy told us that this was a great setup and all it needed was a little bit of fuel for the fire. And that fuel turns about out to be the innovation revolution. And so again, this is not a short term theme. This is a long term mega trend that we believe is going to go well into the2030s.

[00:08:07]:
This is a generational bull market that’s going to make a lot of people a lot of money. And I think people are waking up to that. But, but still, you know, we, we, we have these short term shakeouts. Like again, we had a 10% correction. And look at, look at what happened to all the investor sentiment surveys. They just went in the toilet within a week or two, right? People went from extreme greed to extreme fear. The Fear Greed index fell down to nine. Okay, that was after a three, three and a half week shakeout of 10%.

Nasdaq down 13%. But still, that is not the personality and the characteristic of a bull market that’s long in the tooth. That’s the characteristic of a bull market that’s still in the very early innings. At some point, I think it’s a really key point. I don’t hear this being made elsewhere. I think it’s a really key point. At some point we’re going to have a 5 to 7% shakeout. But these investor sentiment surveys won’t even barely budge.

They’ll be in extreme greed. They’ll stay in extreme greed because everyone’s going to be thinking, hey, buy the dip. That’s the theme, right? That’s the way we’re, we’ll be conditioned, we’re just not. The point is we’re not there yet. We’re nowhere near this yet. So this is very early innings. And by the way, as you’ve heard us say many times, when these, when these investor sentiment surveys and the put call ratios and short selling. Again, hallmarks of what we just saw with the war.

When these things all skyrocket in short order. It’s a big tell. It’s a big tell and it just makes us that more bullish. But again, at some point there’ll be a case where that stops happening and we’ll be taking profits. At that point. It’s not going to be a straight up bull market. Look, they’re going to be big swings. Of course, for our ETF strategy, we’ll be trading this very actively.

[00:10:00]:
You know, we run the risk of missing some upside, but again, we stay disciplined to, to what we’re seeing. But you know, remember during dot com, this is the most, you know, similar theme for a bull market just to, to.com in 95 to 2000. It’s important to remember just to keep our greed in check. It’s important to remember that there were five corrections of 10 to 20% from 1995 to 2000. 10 to 20, when the official number is 10 to 20%, the average stock is dropping 25, 30, 35%. We all know, we’ve all seen this, we’ve lived it, right? It sucks. You’re like, man, I should have just been in indexes. Why am I messing with individual stocks? Because they get crushed when the market just has a 10% correction.

So we’re going to get those. And remember, in 1998, just prior to the biggest leg up of the, of the bull market with NASDAQ rose175.5% and220%. Sorry,220% in 18 months. Okay. Just a house on fire. Kind of like what we’re seeing now. But just before that happened, there was a 31% bear market in NASDAQ. And I remember that year because it sucked.

But it wasn’t a year, it was three months. Right? It happened at 31% bear market in three months. Everything was going down, everything was getting hammered. It shook out most people from the bull market. Right. And again, but it’s important to remember, I think, you know, that trees don’t grow the sky overnight. This isn’t going to be straight up. And I think it does make sense to have a trading strategy again.

We do that with leveraged etf. So whatever you use for yours, I think it’s important to keep in mind just to keep our greed in check, you know, And I want to make sure, you know, that Tyler feels the same way that we’re always being straight up with you about where we are. Short term, the risk are much Higher. We are extreme overbought on steroids, no doubt about it. This is not the time. No matter how much higher we go, just from a disciplined point of view, this is not the time to put a lot of money to work. It’s just not. We may be wrong about that call, but again, that’s our discipline.

Right? But longer term, if you’re not worried about that, you’re just a long term investor and you just want to, you want to own our stocks, you don’t care about any of that, you would own our core holdings, then, then there’s no reason to worry about it because this thing’s going into 2000s generational bull market roaring 2020. There’s so many themes here, right, that really are very interesting themes about, about where we’re headed. And of course, we got the right president, the wrong right time. We just do got the right guy running the show at the right time. And we got another example of that today, did we not Supreme Court this, as you know. And thank you, by the way, for your feedback on this. They got a lot of emails and texts and DMS from you today on this. I appreciate that.

A lot of you remember, you listen and you remember and you want. Thank you, thank you, thank you. You got to remember I’m just a very simple redneck from East Texas, all right? I wake up every day pinching myself and also scared at the same time because I’m afraid all this can just disappear. So I’m always on the edge about this. I think that keeps us sharp though, you know, I also know fear is the portfolio killer. So again, I’ve got to balance a lot of things for myself. But my fear comes from not having money. Growing up, I know a lot of you, probably all of you in a similar situation know exactly what I’m talking about.

[00:13:26]:
But that drives us, right? It keeps us sharp, keeps us on the edge. That’s where you need to be to make sure you don’t miss something that’s important. Okay? And so that’s why we’re saying that this is not the time to put a lot of new money to work, but it’s also not the time to take profits. We just came off of a very, very sharp three week, 10 to 13% correction. That was painful, right? And so that, that, that set up the perfect buying opportunity. That’s why the market’s doing what it’s doing now, because that shouldn’t have happened, right, that. But there was an external event. It was called the Iran War, right? That looks to be largely over.

Now. I’ve got a lot to talk about today, but I have to spend a minute on this because even Fox and again, I don’t watch a lot of TV anymore, but I see everything online. I see the clips and all that. And the coverage of this Iran war is so horribly wrong. Right. I saw a guy today on Bloomberg say these exact words this morning. Is what you may have seen. This guy, I don’t think I know who he was, but I was about to light him up on Twitter.

You know what? I got more important things to do with my day being gone a couple of days. But this guy said Iran has the US by the throat in the straight of Hormuz. And I’m like, surely you can’t believe that. That can’t be something that you believe is true. This blockade is ironclad. Iran’s losing $500 million a day. I think that’s on the low side. All right, there’s no imports, no exports, there’s nothing.

[00:15:00]:
Within a couple of weeks, these wells that they have, again, they’ve a shit ton of oil there are going to be, the ones in production are going to be possibly gravely damaged. Take many, many, many billions of dollars that Iran doesn’t have to work these rigs to work these wells over. And so look, they’re, they’re, they’re the extreme of the extreme right. They’re, they’re radical religious idiots and they are, they’re bad people to boot. Again, hanging, still hanging people for protesting. You know, I, I just, I don’t know how anybody can really root for a country like this. Of course, the left is, there’s also a lot of never Trumpers that are. But the fact is we got, we just got another carrier group.

We have now three carry. We haven’t had three carrier groups in one location, if you will. You know, in a, what, a probably 500 square mile radius. We haven’t had three carrier groups in one place in decades. So, yeah, we, we are, we are positioned to do more damage. The longer this goes on, the more I’m concerned that we may have another, call it two, three week war just to take out and force their hand. I’m very hopeful that won’t be the case, but it’s something I think we should pay attention to because as we saw the first time around, Trump and Israel, they’re not messing around. This is going to happen one way or another.

[00:16:29]:
Iran’s going to give up their nuclear program and all the nuclear material that they have that, that’s going to happen. And so it may take it. I don’t think, I really don’t. I’d say it’s 70, 30 against that happening. One of the big reasons. We’ve talked about this a lot here, have we not? When Trump pivots, he pivots again. This was the fourth case, the fourth case of, of the, of, of something during Trump’s terms where we had three to four week shakeout that was brutal. But the key is once Trump pivoted, that was it and then we were off to the races again.

I do think this is over anyway. You want to spend a couple minutes on that. And the coverage again is just pathetic. It’s, it’s, it’s, it’s not, it’s not just disingenuous. They’re just, these people, they’re just lying to us, you know. Anyway, moving on Again, thank you for your feedback on this. Today. DOJ dropped a lawsuit against the Federal Reserve on their.

What do you call this? I don’t know what you call it. What was it? A three and a half to $4 billion reconstruction. How Trump covered this in an interview in a presser here a couple days ago and where he said, look, as I’m a contractor, this is what I do, and it’s just not even physically possible they could spend this kind of money. But anyway, the smart move, as we said several weeks ago, by the way, Grant Stinsfield, I mean, I told this story in the podcast one day, you know, we’ve been saying, and putting it on Twitter, writing it essentially every other day probably, that the smart thing was for the doj, for Trump and his DOJ to drop this lawsuit, because Thom Tillis, the Republican, I think Senate Banking Committee, had said very, very loudly, by the way, he’s resigning. He’s, he’s a dirtbag, to tell you the truth. He’s never Trumper. But he said very loudly, I’m just not going to be the vote that lets him in. Until us had the power to stop that because of the tightness of the Banking Committee as far as numbers, Democrats, Republicans.

[00:18:32]:
And so he had that kind of control over it. And he said, until they drop the lawsuit, I’m not going to do it. So yesterday or day before, I think I saw it in a hotel room, I saw that the Senate announced they were going to begin an investigation into this remodeling program. And I knew, I knew the second I heard, I was like, they’re going to drop the DOJ is going to drop the lawsuit. Why does all this matter for the same reason we said they needed to do it beginning three, four weeks ago. Because there was no way, there was no way that Kevin Warsh was going to become Fed chair with this lawsuit going on. And as important as it may be and as many untruths as it may have discovered about the Federal Reserve, I got a lot of pushback on that. But more importantly, it’s the American people and the suffering they’re going through with these rates so incredibly high.

So this news is big. Again the 10 year close today at 4.31%. We, we expect by year end the 10 year will be at 3.5%. Kevin Warsh is going to have rates plummet here. Again he’s a big believer in what’s actually happening, which is this innovation revolution is real. It is happening. It’s going to bring down the cost of everything. AKA going to be hugely disinflationary.

Again, it’s not a theme, this is a, it’s crazy. This is a minority opinion of ours and I just find that insane. Remember just a month ago there were a lot of people saying the Fed should raise rates, you know, because of this war and oil prices going over a hundred, like okay, that’s, we got to get wash in there. And so very good news. He will be our next edge here on May 14, barring something bizarre happening. And again that’s going to be fantastic. Rates are going to plummet. You know, if you know us here, if you’re with us here, you look at our entire portfolio, right? We are, our entire portfolio is essentially invested in a rate sensitive position in rate sensitive groups.

And so that is what we’re seeing, is it not? Look at what’s going up the most now. Semis tech again, again that’s rate sensitive because that means we’re going to have more building, more construction, more growth, higher PEs that benefits that group. All tech, small caps again percentage wise, small cap companies, smallest companies are, you know, have to borrow more money from the bank. So these interest rates really affect them. We know the housing market, right. And so that’s the biggest one that really comes to mind. And so we’re positioned that way. I think the move higher in these groups of course gold and silver benefit from as well.

[00:21:06]:
I think that, I think these, these groups and these individual holdings that we have are going to, again they’re going to, they’re going to melt up, right? You’ll have your shakeouts, that’s healthy, that’s normal. But they all these, all these dips will be a buying opportunity. That’s our call. And I think the dips are going to be very short lived. So good by the doj. Good. Very, very glad to hear they dropped that lawsuit. Hopefully the Senate will pick it up.

You know, as to everyone talking about, you know, this, this market melting up like this, as I said a minute ago, you know this, it is a dangerous time to aggressively add to positions here. I also want to make the point that my mentors both, both, both Ted Parsons and Michael Metz would remind me of this, that the, the market can stay irrational longer than investors can stay solvent. And I think that’s exactly the point here. I expect earnings next week from these big mega tech, super mega tech companies to be extraordinary. So again, I do think this move continues. We’ll reach a point right where it’ll be a buy the rumor, sell the news kind of thing. Tyler just said in our meeting, in our pre podcast meeting, maybe it’s going to be, maybe it’s going to be Kevin Warsh getting the job. Right.

We melt up into May 14th. I think that’s very possible and we’re extremely. But on steroids, on steroids across the board. And then everybody’s so excited because Warsh is going to bring race down etc. He’s going to basically going to reinvent the Federal Reserve. At least that’s what the hope is believing. I’m a little skeptical because I thought that about Jay Powell. It was just, it was Trump’s pick.

[00:22:45]:
I just have confidence in the guy. We found out since a lot of his picks are horrible. They had been second term. Much, much better, right? So much, much better. But you know, you still have to be a little skeptical because he was so bad in the first term. And also, you know, I didn’t even know this, tell you the truth, when Elizabeth Warren started grilling, she was the first Democrat to ask questions. She started grilling Kevin Warshaw at their Senate hearings the other day. And when she said he’s got a net worth of $100 million, I don’t even know that I’d heard that.

Maybe I did and I forgot it. But it got my attention and frankly everything she said I agreed with. Why don’t we know what you’re invested in? Why haven’t we seen your investment portfolio? Yes. You have an agreement to sell all these positions to who into what price she. These are valid points that, that should be answered. They’re not going to be, you know, it’s, it’s, it’s, it’s done. Kevin Warsh is going to be a new Fed chair. Let’s y’, all, I hope it, it turns out those way that we think it’s going to.

And again, I’m an optimist. I think it probably will. As I said when they first nominated Warsh, because remember he wasn’t, he was not an early favorite. Right. He was only like in the last, probably into the last month of Trump’s decision did his name start coming up really as a leader. And then he shot right to the right to the forefront. But you know, again, I had a point, just, I just completely lost it. Well, it’s probably not a very important point or I wouldn’t have forgot it.

How about that? Anyway, May 12th is a big day. That may be a buy the rumor, sell the news event. We’ll track it and see. But it does make sense. Tyler’s got a good point. It does make sense that it would be one because then we have sell in main go away. Although and Tyler, when Tyler said that he just stopped and called himself and started laughing. He’s like, no, nothing stopping this bull market.

[00:24:35]:
And I think that’s right. That’s the primary takeaway. Intel and I talk about Intel. Let me just cover this quickly because you know the store. The real story for me on intel and I wrote this up this morning is what the media is not going to talk about. Right. Intel, you know, closed at all time high up big today towards it 20. What was the closing trade here? Um, yeah, up 23.6%.

Call it 24%. Uh, that’s what everyone’s talking about today. Uh, and why it was up again, this shortage, shortage of, of, of of chips. I mean that’s, that’s the primary takeaway. And Intel’s guidance by the way, was, was fantastic today. Right, but what the media is not going to tell you about is one of the reasons why this happened. Last year, Trump decided to give intel alone. It was a basically a $9 billion investment.

The media hated him for it at the time. Right. That nine billion dollar investment gave the US taxpayer basically a 10% stake in Intel. This came from the Chips act funds. Remember the Chips act was a Joe Biden thing. It was, you know, several hundred billion dollars. I mean at the time I remember going that he’s finally done something that makes sense. We got to reshore, we got to onshore all of this and we can’t have 90% of the chips be made in Taiwan in case we have a worst case scenario, meaning China, you know, invest invasion of Taiwan.

But the Biden thing was just complete DEI nonsense. It made no sense. Basically Trump said, right, I think within the first week in office said, no, no, that’s over with. Chip stocks got hit at that point, right. And now we’ve seen what’s happened since. Again, 18 straight up days, gaining 47%. Never happened before. But anyway, Intel, US taxpayer thanks to Trump made a $9 billion investment that’s now worth 80 with the stock at 85 now, that’s now worth 28 and a half billion dollars.

[00:26:38]:
I’m sorry, that’s the gains. Sorry, apologies. The gain so far and it’s going to continue is already 28 and a half billion. But the bigger. And that’s fantastic, right? It is chump change, you know, compared to what we owe. But the bigger, most important part of this is how the United States benefits from this longer term. Because it’s not just intel, it’s all these chip companies that are, that are reshoring here. It gives us direct upside to the treasury because it funds domestic fabs.

Tesla just announced the big one they’re doing right. Everyone’s now making chips. It returns it to the US Again. It secures our chip supply chains and of course also boost our national security because of this reshoring, which means America owned the, owns the upside again. Trump is getting no credit for this today. He should. Great job, Mr. President, on this intel deal.

He’s done it with several other companies. Right. I have a feeling that 9 out of 10 and maybe 10 out of 10 are going to work and make money for the taxpayer and again, secure America’s upside potential as a national security reshoring versus risk matter. Again. Nvidia today, as I said a minute ago, 4.3% today. That is a, a closing all time high. Closing all time high. The stock, once it breaks out of 212.

Again, we own the stock here from 106. Once it breaks 212, I’d like to see it on volume. The stock then will catapult to, I believe to 240, right? 240 from, from 212. Right now it’s 208. And then from there it’ll be, it’ll be blue sky. Our target’s 400 in 12 months. Again, we’ve listed as a 10 bag, which means it’s going to a thousand. You know, people look at this and go, kip, it’s a 5 trillion dollar company.

To double from here to hit your price target in a year, it’s gonna have to be a 10 trillion dollar company. I’m like, yeah, so what? That’s a number, right? And that’s a number. It’s all that it is. Tyler and I started Tyler actually this was kind of his big theme from the big bribe when we, we didn’t have a single company then that a trillion dollar market cap. And I remember Tyler going, dad, I got, I got a list here of like six, seven, eight companies. They’re not just going to a trillion, they’re probably going to 5 trillion. Well, that’s starting now. All right, again, Nvidia being it’s actually pronounced Navidia I believe.

[00:28:59]:
But I think that, that, that Nvidia will be the first company to hit 10 trillion as well. And then before long it’ll be Tesla. I’ll talk about that more in just a moment. A very disappointing reaction to the earnings. Earnings were great. But the earnings call with a depressed sounding Elon Musk. This is not, this is not the go getter Mr. Optimistic that we’d heard before.

That, that tone came across to me. Honestly, I do not care. I know with this company’s. We’ll talk about more in a moment, but I’m just telling you folks, and I’ve said this now for a few weeks, I know some people be tired of hearing me say this. I don’t think you understand how big of a gift it is for Tesla for you to be able to buy Tesla close at 376 today. Buy, say buy it below 400. Let me give you an analogy now. Let’s say that you had a crystal ball and you knew that a certain baseball player, right, was going to have not only a record year where he broke every number, right, but you could buy his baseball card for pennies on the dollar if you had a crystal ball and you could see that was going to happen and he knew his baseball card was going to go up 100x.

How long would you want those cards to stay cheap? You want to stay cheap as long as possible as you can load the boat. And folks, that is our call with Tesla. So I look at this as a gift. We’re now buying Tesla every week, right? It’s our second largest position. Our first largest position is gold. Second largest position is Tesla has been. So that’s been 1, 2 for some time. But that’s, that’s where we’re putting pretty much every, every spare amount of money we have in Tesla.

[00:30:51]:
We’re continuing to add to our other 10 backer positions every month. But again that’s my view on It. And I think, I think we’ll look back and say, God, if I only. If it only mortgaged my home, if it only sold my kids, you know, I could be worth many more millions of dollars than I have now because of Tesla. I’m going to cover the specifics of that more in just a moment. What else here? Okay, last point I’ll make is this has been a theme of ours from Trump’s inauguration, the Trump Doctrine. If you see what’s happening here, look what’s happening with the chips, right? Intel and the CHIPS Act. Look what’s happening across America.

We’ve been covering this during the war. It was a big reason we never turned bearish because of economic moats that the US has, number one. We were surrounded by. We’re positioned perfectly. You know, we have. We have really no competition, we have no enemies surrounded. We’re surrounded by water. So that’s a huge natural mode.

But all these major economic modes, the leading one, of course, being the US Dollars, the world’s reserve currency, that’s never going to not be the case, not in our lifetimes. It would take losing a world war for that not to be the case. That’s going to continue again. At the same time, Trump wants the dollar to be lower. Besant does as well. Not so sure quite yet about Kevin Warshop. And I think that’s going to continue to be the case. That’s very bullish for America.

[00:32:19]:
It’s all these economic modes. We have energy, technology, about free market capitalism. These are the things that Trump recognized very early on in life. These are American advantages. And we each have an American birthright that tells us we can accomplish anything and as much of everything as we want. That’s our birthright. And America has these moats that empower that birthright. The issue now, if I’m any other country, right, not even our primary adversaries, China, Russia, I actually see Russia as more of a.

It’s going to sound weird to some people. I see Russia as more of an ally than as an adversary. I think, I think their people are great. I think that. Look at what they did post Covid, right? They, they basically shut down their American businesses. That they didn’t grip porn, right? All these other things. Their people are good people and that’s American people, right? So anyway, but. But Europe, throughout Europe is really what I’m talking about.

[00:33:23]:
Canada and, and throughout Europe, these countries are in a serious world of hurt. They’re in serious work because of the Trump Doctrine, because his belief in free market capitalism and what America stands for. Unless these countries start to change and maybe it’s by design that they’re imploding. Maybe that’s really what they want. And this is probably the answer. They probably want the countries to implode so then they have to be bailed out by China and then they’re a communist nation through and through and then the people are dependent on the government. And that’s, that’s the big, that’s the big, you know, primary theme of communism. That’s, that’s their playbook.

Right. So maybe that’s where they go on purpose. It certainly looks like Canada is doing that. And again, best wishes to all our Alberta friends for your vote to secede. I know the, the federal government Canada is going to fight that tooth and nails. They already are. But good luck to you. We’d love to have you as 51st state, by the way, although I know you love your independence.

[00:34:30]:
Maybe that’s just the way it’s going to be. But again, the takeaway, primary takeaway here is there is no country, there’s not even a close second that I want to invest in over America. We have all of the advantages and that’s why this innovation revolution is going to benefit us far more than any other country. And that has been our primary theme for some time. It’s one of our big bright megatrends in the red pilling of America. Okay, I think I’ve covered most of the topics again, really good day today. Not so much for again, Dow Jones was down a bit today, but everything else was higher on the day. Nasdaq of course led the way up 1.6%, semis up 5.1%.

Textbook bull market action. Semis lead Nasdaq, NASDAQ leads rest of the market. And by the way, this is the, one of the big reasons that again Today, NASDAQ of 1.6, I think you’re going to start to see Nasdaq, the tech stocks. You know, we own this group pretty aggressively. I think it’s really going to start picking up steam here and I think that’s where the money’s been made is in the short term. Okay, let’s look under the hood today. Not, not great internals, but again you start having these big, these, these big runs, right? And, and, and you, you tend to get, get, get closer and closer to a, to a pullback in the market. But internals today were decent, I’ll call it that.

[00:35:54]:
NYSE actually was only positive about 300 issues for advanced decline. Nasdaq much better 1.4 to 1 advanced decline. NYC down volume led down as 50.5% just barely in Nasdaq up volume was very strong 67.7% and we had 396 stocks at 50 week high. Just 127 hitting a 52 week low. Sector watch also not anything to write home about. Let’s see more sectors lower than higher but no damage done to the downside. Again five sectors up. Technology of course led the way up 2.4%.

Consumers questionary at 1.3. Communication services of nine tenths. Again that’s, that’s, that’s that these are the groups you want to see leading and they did to the downside. Healthcare who cares. Down 1.3%. They deserve to go down. It’s an illegal monopoly in the entire setup and rooting for them to go down every day they can to force a reorg of our entire healthcare medical system here in our commodity watch also not much happening here. A gold up a buck at 4725.

[00:37:05]:
So we, we haven’t been talking about this group a lot because there’s a consolidation taking place here. Right. And because of the war again we have some counter trend moves that that have been in play normally meaning the dollar’s been higher and rates have been higher. That makes it a tougher go for this group. This is a massive buying opportunity specifically, specifically for our 10 bag gold miners. And a great time to add your positions. Gold 4725. Silver up quarter of a percent.

7568 copper standing strong above 6602 a pound. Crude oil today down a buck a barrel 9488. And finally Bitcoin gave up a little bit today. Last trade 77,006 20. We continue to believe this is a move that’s going to take Bitcoin. Bitcoin to all time highs by year end and probably quite a bit more on back of it. All right folks, that’s it for the day. Hope you had a great day, an even better weekend.

[00:37:58]:
We’ll see you back here again Monday after the close.