Just when you thought you were out, they pulled us right back yeah, that's the nature of the market. These days uh. This is the lowest conviction market. I've seen in uh quite a while uh this.

This feels a lot like 2018, where uh, if you are just in this market, where every little rally gets sold off, i mean there. It's it's difficult to trade because you have a chance of getting caught up in the bull crap and it's it's difficult to have high conviction for many, because the more high conviction you have, the more you end up, buying the dip and then the dip keeps giving. I mean look at this one folks, cloudflare is officially under 100. Now previously it fell to about 100.

Even but look at this folks look at this. This is this is what i'm talking about with convictionless rallies. Look at this, so you fell to about a hundred and one penny right here. Then, all of a sudden yay we're up six percent yay we're up three point: five percent yay: we were up more this morning and uh.

Despite being up this morning, uh we were kind of i mean here's, here's your chart for the day on cloud flare. Look at this yay we're green, oh just kidding down 12 and a half percent. I mean this is in an insane amount of selling it's it's quite remarkable um, so yeah definite, uh, definite pain, uh in the market. You are uh in a situation where the market is potentially reacting to bernard's uh discussion in front of congress about being potentially interested in having the first rate hike in uh in may, which, quite frankly, i think is a a very lame uh excuse for a market Movement because the market already priced in a 90 likelihood that rates were going to go up before uh may, i'm sorry march march rate hike right that they were going to go up before uh hold on.

What's going on here. Oh, they screwed that up uh anyway. They already priced in that markets were going to go up uh before uh. What is it? Markets had a 90 likelihood of rates going up before april.

That's what it was which the only meeting before april uh is march. So the fact that brain art is coming out saying: okay, yeah we're thinking about raising rates in march, that's the duh like the taper finishes in january no rate hike, there rate hike happens in march and we're getting that that incredible fear in the market leading uh That, oh, my gosh, things are somehow going to be substantially worse, uh going into uh going into the um uh going into the right heights cycle, and so that's what we're pricing in right now it it does shock me, though, that the market is, is so surprised That the rate hikes would occur in march, because this is what we've been talking about on the channel consistently that we're probably going to get our first rate hike almost certainly going to get our first rate hike in march. So surprising i i don't know, i don't see that, particularly as a massive catalyst, because this just implies like stupidity, uh in the market. Uh, let's go take a look at uh treasury yields, which what's interesting is at least when i last looked.

They actually weren't rising yeah, look at that treasury yields are actually falling, and so i thought that was quite interesting, that you're in this market, where treasury yields are falling, you've got a reiteration. That rates are going to go up when we thought that they would, and now all of a sudden, the market's selling off i mean you've got look at this ridiculousness, the nasdaq down two and a quarter. I mean this is monday all over again, except the difference between today and monday is on monday, the treasury yields were skyrocketing. We were running to uh five uh, or what did we run to? We ran to over 1.8 there for a period of time on the 10-year, which is absolutely nuts created a lot of fear in the markets, and we saw the nasdaq down 2.2 percent as well.

Now we're not seeing those rates move, uh and we're down this level. Quite quite odd, a lot of uh algorithmic trading on probably random talk i mean i can't imagine that uh the supreme court halting a vaccine mandate is leading the market to sell down. But this is something that has occurred. Uh we've got uh open to interest rate raising rates in march.

Big deal, uh delta was relatively positive uh today, after they had earnings. Hmm you know: we've got the bitcoin uh. We've got some crazy, bitcoin price action and crypto price action. In fact, we're falling more into the close.

In fact, when we look at btc this morning, we uh we have ran up to 44.. Where were we ran up to 44 4. yeah? Look at that peak was 44 4. This dip was like a 1500 point dip within 15 minutes uh and there's a lot of buy in the dip that happened here and made sense.

Then we recovered, but then look at that. Then you've continued trending down more to where now we're sitting at 42.5, which, if we go to the hour chart is uh, is basically just trying to go back to potentially the floors that we've seen over here now. I don't think we really have a solid threshold for pricing, yet i mean, even if you tried to set a uh support here, we'd already be breaking through that. So i think you have weak supports between this territory here and potentially opens up to the idea of getting down to 37.5, but yeah.

Who knows? Okay, so uh, let's see here? Okay, oh, oh, oh! Oh! I get it! Okay, why'd! They do that! Oh i see. Okay, there he is jp. I did a transfer with jp morgan, i'm like wait. Where did you just put that that money? They put it in a different account than i thought they would that's kind of funny, uh, okay, so transfer? I will fix that all right.

So uh what else we have here: neo uh neo down three percent and face down three point. Three five. I mean there's we're beyond the point of of wondering why these are going down for fundamental reasons. At this point, it's just whatever's got the lowest path to profitability gets sold the hardest uh.

That's true of roadblocks, uh, that's true of cloudflare cloudflare, low path to profitability, if anything, no path to profitability that doesn't make it a bad company. If anything, it's it's a you know. It's a good company that uh that that really has uh the opportunity for uh. In my opinion, uh great upside is a cyber security play, but not in this environment because again no path to profitability, uh and so you're gon na see that any any of those with the low path to profitability, which i hate to say.

But a firm is included in uh you're, going to see more pain in no trade desk is actually has a nice profitability. Uh a nice nice margins tesla is profitable but still selling off six point: two: eight percent, though it's been doing relatively well in the past. Uh uh, you know few weeks here, it's not like it's uh at all time lows and sitting at eight hundred dollars or something who knows that's, maybe where we're heading back to this is so much uncertainty and pain in this market. It's quite interesting.

It's almost like any red day you get, you have to uh, you have to i'm sorry any green day. You get. You almost have to set up your hedges for the green days, because it's so uh, oh there we go. Ah, okay, there we go uh.

Okay, perfect sorry, i wanted to finish that transfer uh. It's almost like any green day. You get. You have to set up your hedges because the red day is around the corner.

Every rally is convictionless, so i go in over here at uh on lucid, for example, this thing was at 46 bucks, and i'm like this is great. The more this runs, the the better opportunity we have to hedge this and make some money well should have done that yesterday, you know on a green day. This is why you want to hedge on green days, especially in this market. It's not a terrible thing to do.

Uh you know, hedging obviously is root. Takes is a replacement from increasing your buy and huddle position if you're uh buy and huddle, and you want to build uh build your position in something you know, then maybe hedging isn't the right thing for you, but you might feel like you're catching the following knife For a while uh, which a lot of people really hate that feeling and it makes sense: okay, there yo move that perfect all right so uh it does look like the market's burning a little bit more going into the clothes. So here we have s: p 500. Yep falling into the close one point: two: five percent and uh google down one point: four: six: let's take a brief, listen to cnbc and what i'm gon na do.

Is i'm gon na pull up to see what the suits are saying uh, but it's gon na. Take me a minute to do that all right here we go from zero right, it's not the same thing as moving from five to six, and i think i think that's what uh. I think that's what the world has seen in japan and europe and so um. I i i don't: i don't buy the world, i don't.

I don't buy the neutral fed funds rate at 275, although inflation is big, double digits and if we're right about oil uh, that's going to confound people's inflation problems. Carl bass great to see you as always, uh a realist, a bear on some topics, a bill on uh on oil. We shall see if you're right. Thank you so much.

Thank you guys, uh, probably beer on tech. Then too yeah. It says such different worlds. A bull on oil bear on tech.

Oh it's so opposite of how i personally feel uh, but you know what that's been working well indices. Obviously getting hammered here - and let's see here snark over here - has a actually a very valid comment and it shows you, the ridiculousness of the uh environment right now, uh a firm closed, that's 69. Of course, 69. 69.90.

The day before the amazon partnership was announced crazy. That we're back at pre, amazon and target price yeah. It is uh, it is uh, but that's all right. So, let's get into lab log.

Okay. What do we have here? So huh influx of bank issuance may support treasuries over coming days. Treasuries could find some support as big bank stocks enter earnings season, usually accompanied by an influx of financial corporate issuance. Banks may push the boundaries as far as how they can go with their as far as how far they can go with their bond plans.

Uh issuing as much as possible before the looming fed hike cycle kicks in okay dissecting the dollars disappointing drop. The dollar's recent scuffles have garnered a fair amount of attention, but they are a mere pause in the underlying bull market or are they a pause or a sign of something more serious? Hmm. I would like to know the answer to that. Maybe it fall because the dollar fell this morning.

Maybe that's why, let's see so expectations that the greenback would continue appreciating have been greatly disappointing, uh in 2022, so there were expectations of international flows to support the dollar to strengthen the dollar. We entered this year with the market, pretty bold up on the dollar, nothing wrong with that. If everyone is bullish - and everyone is long - where are the marginal buyers coming from this sort of thing - is more of a qualitative uh than a quantitative analysis that we can look it up? Okay, so give us just the answers here: dollar buyers run out of steam. Oh, i see they're making this interesting argument and i wonder if you can apply this to a lot of stocks too.

Is that hey? If, if your your core audience is hotling, basically and uh, you are buying the dip with whatever leftover money you have and then you're out of money. What other pricing pressure is there when you've got institutions with billions of dollars, potentially catching an early trend or trying to catch an early trend, shorting and then almost self-fulfilling? That trend right uh, it's just something you just have to sit through and pain through there. No, i had no no particular explanation from the suits here. Let me see another source here.

This might give us a little bit of insight here. Hmm, let's see here it sounded like a poem uh. The supreme court now talked about brain. I talked about the summer game corp all right here we go tech companies dragged down emitted, wider spread calls from the fed to raise rates.

I mean we we knew this was coming. Traders also assessed news that divided this, that is, a divided supreme court, blocked the centerpiece of biden's push to get people more vaccinated, rejecting a rule that would have required 80 million to get vaccinated, the nasdaq saying two percent. Let me see that raise rates march. We already know that we're in a position where much of that has been positive for equities is maybe moving to neutral or negative, and while there are so few alternatives, it makes the equity market ripe for more fluctuations over the next few months.

As we see how data and the fed play out, yup - hmm - let's see tech - has really benefited from a decline in rates. Obviously, now you're seeing that u-turn, yep prices paid to u.s producers decelerated in december as two key drivers of inflation in 2021: okay, morgan stanley, clients expect financial stocks to outperform uh. I actually believe that that's an interesting survey - morgan stanley clients expect financial stocks to outperform, but they'll have to outperform after they keep getting paid. Unless they're talking about banks, banks have done well at wells, fargo, city, jp morgan.

I expect that their earnings are going to be excellent and those come out on friday, uh friday morning, so actually tomorrow morning, which is a lead into the three day weekend. You'll see uh bank earnings from wells, city and jpm. I don't think we have any earnings. After the bell today or tomorrow, two they're very few far and few between we're gon na get a lot more earnings next week, let's see now washington, federal and some smaller companies today, okay yeah, so no particular earnings to look at today, okay, good yeah, it really Seems like a lot of weak answers for the sell-off today.

Um fear about omicron may be triggering the supply chain crisis i mean we talked about. I mean that as long as we continue to see it ceilings and omicron cases and inflections to the downside, we don't expect disruptions to be too long, lasting, yet still you're seeing a drawdown of markets. Here you go google at its lowest point in the day and dropping down even more right. Now, uh disney same thing: oh proterra just lost about two and a half percent right into the close here.

It's actually doing well most of the day, even though other things were uh were rotating uh. Oh cloudflare has accelerated its loss now down at 13.56 affirmed at uh. Eight percent of the downside, 7.88 on trade desk tesla 6.7 whoa continuing to burn into the close here. Etsy six percent arc: five percent, robin hood: five percent wow nvidia is where's the darn thing 265, my goodness some recent lows here and very little green, even beyond meat, starting to pull back a little bit wow.

Let's see the situation over at the capitol uh. No! What's going on, let's see i'm curious, you know last time i heard, did you see the situation at the capitol it was january 6th? Then i was live streaming. Let's see wow all right. Let me see how the questions are.

Do we have reason to believe the market will close green tomorrow? You have hope hope would be a reason nice to invest in blend. That's funny. Let's see people simply didn't sell. We wouldn't have this problem yeah, but uh people don't have to sell.

They could short uh and hedge, which is obviously a form of selling, but not their underlyings and uh uh iran leader, shares trump assassination, video, oh that's, interesting, uh and quite odd, and then so that's being reported on fox and then prince andrew stripped of military titles And charities - okay, wow uh - i don't see anything happening on the capitol, so all right, bearish engulfing on btc, oh yeah, i mean just look at uh. What's it called look at um, look at tech and then you know what btc is going to do. Btc uh sitting at 42 666, not that low level that we saw earlier, but uh definitely a rotation here. Let's see what else here, hmm matterport calls uh yeah no kidding and calls her ouchi wachis anything to do with russia, ukraine.

I have not thought so uh. I i don't really think that that is uh issue right now, it's most because everything's been if, if russia launches an attack right uh, once it's ready to abandon diplomacy, i mean i guess, the the elevation of uh uh of um threats - that's probably not good. This is just two hours old. Well, you take a look at this together here.

Let's look at this: this is it russia, an impasse with the west warns it's ready to abandon diplomacy, vienna, russian officials signaled that they could abandon diplomatic efforts to resolve the security crisis. Around ukraine, bringing a whirlwind week of uh to of european diplomacy to an ominous end and deflating hopes that negotiators could forge a path forward to easing tensions in eastern europe. One senior russian diplomat said the talks with the west were approaching a dead end. While another said the kremlin, kremlin would wait until it receives written responses next week to its demands from washington and nato before deciding how to proceed.

It was clear that russia's next move would be up to president putin. The u.s and its allies are actually saying no to key elements of these texts. This is what we call a dead end or a different approach, while the united states representative to thursday's meeting michael carpenter also depicted two sides, as engaged in a standoff with no clear resolution, we must never stand for the flouting or erosion of our bedrock principles. That means no tolerance for overt or tactics, fears of influence, yep a lot of a lot of tough talk.

Oftentimes you get this sort of tough talk. Uh, it seems the risk of war is now greater than it has ever been in the last 30 years. You get this sort of tough talk as a negotiation strategy. You know people say this about risk of war or whatever, and it's really designed to try to get the other side to cave uh, because it, you know, you're you're, basically publicly uh, talking about how you're gon na kick someone's butt yeah if they don't get uh They're in the negotiation their way uh.

No, i i don't think that's strong bank growth uh. First of all, i don't see strong loan growth coming, but even if banks did well in earnings, i don't know that it's gon na help fintech. I think fintech's gon na be on fire for a little while uh nasdaq more down now down uh 2.62, more pain, uh cloud flare down. 13 percent roam blocks 9.9, a firm 8.62 uh trade desk 7.96 wow.

Some juicy pain here. Look at that tesla only just showing a tiny, little green semblance of hope going into the clothes as everything just bleeds away. Ah, there you go a little tiny little bit of green coming into the end of the day same thing here at arc. What a battering here! Oh look! At roku! Oh my gosh roku, went down to 167..

I mean i traded in and out of this one uh but kali that was from like 200 to 230, and then it went to like 210 or something and i'm like i'll. Take the little attendees that there are and put that into something else, but i don't think anybody was expecting it to go down to 167.. That's got to be a new low, it is, it is a new low, look yikes, the scary pain, hole, google all right! Well, there you go, there's uh, there's your pain in the market. 18 t's up a percent.

This is so tentative. Almost nothing's up, i mean even jpm's down see to me. It makes sense to dump like jpm in some of these and go buy. Some of the discounts, but anyway uh lots of discounts to buy right now.

So the cool thing too is uh the when this market u-turns when and if, whenever it does uh, you probably won't have a lot of sellers when we have a u-turn at these low prices and the market's likely to move up quickly. But the problem is: we've had very many convictionless rallies yeah. This is just another one of the losses of conviction. I don't think my birthday hope for the spy is going to come true with a decline of 1.46.

The day after i drew my birthday wish for the s p 500., it appears not good all right. Let me look at what the suits are saying here: thoughts on hydrogen for heavy industries, maybe in 2030 i'm not very optimistic about hydrogen uh. Even look at plug power, they were losing money now even up to their low partnership for uh hydrogen play in france, a frost all right see if the suits have said anything nope still the same update we had 20 minutes ago. That's boring yeah.

I really only see negativity here about uh bernard market, wise uh, let's listen to saki for a moment. Let's see what she's talking about so the president's view is we're going to keep pushing for hard things and we're going to keep pushing the boulders up the hill to get it done. Two quick things: um, the president announced the distribution of high quality masks earlier today. It's been kind of a vague and undefined phrase.

I i understand well fitting, like that we got the bell: oh darn it. No, i almost missed that. Actually, i might miss it hold on, go, go, get the bell goes sharply lower, particularly for tech and the nasdaq down 2.6, but at session lows for all three of the major averages: the smp down 1.5, the dow. That would be my luck.

If i ever rang the bell, it would be my luck to do it on a crappy day like that. Look at this look at the numbers here i mean you're, you're 0.48 down on the dow s p down one point: four: two nasdaq down two point: five, one russell down: two uh point: seven six i mean you're, just you're, just straight up pain, pain, pain, don't Feel good uh. It feels good if you have money left to buy the dip less good. If you don't see that that's always the downside of buying the dip, is you buy the dip, but then you're out of money and the dip keeps going and then you're kind of just like it'll pain, eventually it'll end eventually, and then you take like your kool-aid, Your potions that you're working on and uh yeah anyway, okay.

So how did things end here? Well, cloudflare, down 13! Oh, it's like a knife in the heart, i'm not in it right now, i'm not in cloudflare, but uh. You know i was. I was so excited to see it bounce off 100 and start running again uh. It ran to like 120 130, but uh nope, convictionless rallies.

This is why you short lucid when it gets to 45.. Should i listen to myself it's okay when i self-talk like that, i learn that i must pull the trigger on my shorts. All right, then we got monday.com down 10 roblox down 10. Oh, my gosh, a firm uh down 8.45 trade desk 8 yikes wow, some big old burns here, uh tesla down six point: seven: five percent.

Still over a thousand remarkably, though uh etsy down six percent lemonade down six percent. I mean this is indiscriminate, broad-based selling, shorting and hedging, which one way to hedge is just to get out right. Keep that in mind when the market is painful, one thing that that people use as a hedge is just selling they sell they get out and they sit in cash, and then they wait to rebuy the problem. With that strategy, is they often miss being able to buy the bottom and they're like? Oh? No, it's just gon na be another convictionless rally and then it takes off and then it's like.

Ah crap, you end up increasing your cost basis right. So there's a lot of risks associated uh with that uh. Of course, you could brush up on your ta skills to make sure that uh you you find that u-turn, if you're doing that. One of the reasons i've not gotten into the small caps yet because i just now have not found confirmation that the small caps are going to take off and so far that has proved correct.

Every time we've had a slight little green day, we've just rotated down more and worse on the small caps. I don't even think today. We really have a division here between smalls and large, i mean look if you sort by the largest cap companies. You've got three greens here.

If i sort by the lowest cap companies uh starting right here, you've got you've actually got a little bit more green uh. Oh wait nope! I guess it depends because this is a full page right here of red uh, a lot yeah. Okay, it's just well, it's probably because ninety percent of stocks are red. Today, uh, okay, wow volatility back to 20.5 uh up 16, it's incredible yeah! Now, back to that 30, we saw at the beginning of uh december, though that was some real pain over there.

Carnival 4 delta portera. These guys had some green in the day uh, but boy, oh boy, you've got uh. You've definitely got a dave right here, so uh i i mean honestly other than the uh brainard. It does not make sense.

I think it's just sort of brainard, maybe either triggering algorithms as possible. Uh triggering this sort of algorithmic selling, because uh this, this rate hike again was was anticipated and i really don't think the vaccine mandate. The market cares about it uh, especially since, if anything recovery stocks were doing better medevac helicopter flights could be grounded by new 5g rollout. That's an interesting thing happening with with the chipsets all right.

Well, folks, um yeah, there you go ship. Congestion is growing yeah this. This is another bigger fear, though here is that uh. You know the half day off in china's market for uh covet testing.

How much is this going to really back up supply chains and then hurt inflation again, so wildness that we're dealing with, but anyway folks uh? Thank you very much for uh for joining another market. Closing live stream, uh, sheep, sheep, sheep. Let me see what what's she doing. Um yeah well similar this.

This was enthusiasm, i believe uh here on robin hood's listing of sheep and yeah. This is just more pain. Now kevin's going to start stacking gold bars. No, i'm not the time to buy stocks is when there's pain and that's just what i do then is pain i buy, and i understand the pain could continue.

Uh. As i remember this uh in you know the 2018 disaster or uh march of 2020, i mean i started buying the dip around march 5th 6th uh, you know, and it was just like you were buying and it literally felt like you were taking your money and Throwing it into a fire pit, but uh those were some of the best purchases i ever made my paying purchases. In 2018 i paid uh more uh. You know.

Most people didn't actually start buying the dip uh in 2020 until may, but we had already rotated substantially out of the hole uh. You know i was buying the fire. I was buying the flames and uh historically, that has always done extremely well for a portfolio. It's obviously painful when you're in it, but as long as you maintain your uh, your fundamental conviction as to why you're buying you look at uh, historically uh what happens in markets like this uh, what's happening in the inflation market? Watch my inflation video this morning.

I think it was a great uh breakdown on what's actually happening. Not this nonsense. That's happening in evaluations, but anyway uh. What other thoughts we have here, uh falling knives from march turned into gold.

Completely agree. Uh, let's see falling knives. I don't. I don't think that march of 2021 falling knives turned into turds.

I think actually, a lot of companies are at similar prices. Now i think we just haven't had really appreciation between march and now nobody expects uh the stock market to go up forever. Jake 2018 was a real bear market and you could be in a bear market for an extended period of time. It doesn't mean uh that it's still not an opportunity to buy, i mean bear markets are when you want to buy in, and i still maintain that i think the odds of recession are quite low.

The market is, is too fundamentally strong for that or i should say the economy. The economy is very strong, price pressures are declining, corporate profits are are in insane levels, insanely strong levels. Companies have become so much more efficient at what they're doing. Excuse me what they're doing there's nothing to me that indicates uh a cause for for recession or decline in growth.

Mobility data is indicating a slowdown because of obamacare. Now that's fair right. You look at google mobility, for example. This i think this was compiled as of jane 11..

I think this morning i said it was jan 13th, but it was jan 11th anyway. So you've seen this decline in mobility uh, but a lot of this is, you know, temporary because of omicron, i suppose, if omicron lasts longer, this decline in mobility could become a little more semi-permanent, which uh, which is not so ideal. Personal savings rates has declined. So, there's always this potential that your consumer is going to be less strong than it used to be, but uh, that's okay, especially for companies with high margins.

Uh. Let's see here yeah, but even companies making great money are falling right. So that's that's worth remembering. Okay, what about after hours do a quick peek at after hours what's happening in the after hours, um, not much heavily to the downside.

If anything here in the after hours, you got a little bit more enthusiasm coming to like hud, 8 or or some of the other smallers that have sold off seems a lot of green and flat in the after hours and red is pretty shallow. That's probably a better case scenario anyway. Yeah see look at this. We are, we are too strong uh.

I i think you mean the economy uh. I have two businesses in canada. An economy is fine, i agree, uh strong people have money and they want to spend. There is just nothing to spend on yeah.

That's also true, the supply chain constraints, uh. The reason why every i've seen every rally since december as a bull trap is the russell 2000, which i believe is leading the indicator of the leading indicator of crash uh yeah uh. You can look at small caps and i completely agree with you that every rally has been a convictionless rally in a bull trap and my threshold, i think we talked about this earlier - has been shift technologies, i'm not in shift right now, but watching shift continue to Fail uh tests of support is, is absolutely my opinion. An indicator of more pain, coming silver squeeze is real.

No, it's always a rationalization. People give for commodities continuing to go up, but i think in general commodities trend down in the long term. No, don't don't worry about it. I i i understood what you said.

Thoughts on inflection used cars bullish for for shift. Oh yeah, i think it'll give them more inventory and you'll be able to sell more vehicles, but you're not going to see an inflection point in shift technologies until you actually have a larger rotation in small caps and right now we don't right now. It's just more pain. When could the market go back to normal? It could be a while um nbc breaking news could be uh.

I've said it before between really once we actually get rates going up. What's uh, what's nbc saying i'd like to know what the breaking news is at nbc, but i have no idea uh, let's see here, just take a peek around here, um nope, nope, nope nope i'll quickly. Look, i don't particularly see any news here. Nothing that we haven't already addressed no crazy market; okay, folks well enjoy yes, your seven layer, dip, uh that'll turn into a 14-layer dip, that'll turn into a 21-layer dip.

Ah, i'm honestly, just so salty about people playing the game. The market, like a video game, i'm just trying to invest in quality money, making companies well yeah. I agree with you and look. You can buy quality companies that aren't making money yet right uh, just because a company is not profitable, does not necessarily mean it's a bad or low quality company.

In fact, some of the, in my opinion, lower quality companies that i expect to go bankrupt in the future are are doing decently and the high quality companies with high margins and high research and development spend and uh high growth spend are are doing worse, especially in The technology sector, so uh yeah, always buying increasing your ownership of quality companies is a great thing and a great strategy. I could not agree more um facebook, google, twitter and reddit got subpoenaed. Oh, why? Maybe jan six or something like that, all right? Okay, folks, i got ta go. Thank you so much for being here, we'll see you next.

.