In short
After a strong “rotation week,” the hosts assess major indexes (NASDAQ, S&P 500, Dow, Russell 2000) and argue the market is “backing off the gas” with cross-currents. They emphasize caution ahead of Jackson Hole, discuss “stalling/distribution clusters” and historical precedents when price lows stay above the 21-day moving average, and review sector/ETF relative strength and specific stock setups.
Guests
Mike Webster (IBD-style market technician; focuses on chart-based risk management, stops, and historical pattern studies) and Alissa Quirós (host; runs the segment with market/index and sector context). No other guests appear in the transcript.
Key claims
Rotation is masking index-level stability; small caps (Russell) are the standout. Excess stalling near highs plus an overdue 21-day break historically precedes a character change. Expect drift toward the 21-day and possibly a move toward the 50-day unless highs break.
Notable examples
Russell/IWM/TNA “cup with handle” and wedge weakness in FANG; health care/home builders (XBI, ITB, XHB); biotech strength; Spotify (buy/50-day stop), AS (earnings next week), Insulet/PODD (handle breakout). Chart commentary includes Bitcoin breakout failure vs Ethereum.
Written by AI. May contain mistakes. Listen to the episode to check what was said.
Chapters
Tap a time to open that second in VOMarket Overview and Index Performance
1:42 to 2:25
Discussion on major indexes and performance over the week.
“But we will table that to the end, I guess.”
Analyzing Market Rotation Trends
2:25 to 4:34
Insights into market rotations and the performance of small caps.
“I'm going to share my screen and we will start off with a look at the NASDAQ composite.”
Understanding Market Cautions
4:34 to 6:14
Discussing the current market behavior and cautious investment strategies.
“I do have a position in the IWAM and the TNA, which is the triple of that, but I did reduce it today.”
Historical Precedents in Market Behavior
6:14 to 10:47
Examining historical data and its implications on current market trends.
“So when you're just inching up there like this, That's what we call a wedge or what Bill O 'Neill, the founder of IBD, would call a wedge.”
Key Dates for Market Study
10:47 to 14:00
Identifying important historical dates for stock market analysis.
“Because those things, it was really a character change that tended to happen after that break of the 21 day, your first kind of overdue break of the 21 day, things just changed.”
Market Concerns and Historical Analysis
14:00 to 16:45
Discussion on market conditions and historical models to analyze potential lows.
“I'd go to cash there because you don't know how much lower it's going to go.”
Current Market Roadmap and Caution Flags
16:45 to 18:51
Exploration of current market dynamics and strategies in response to potential changes.
“So we have the caution flag raised at this moment.”
Sector Rotation and ETF Analysis
18:51 to 21:49
Examination of sector rotation and the relative performance of various ETFs.
“So why don't we take a look at our sector ETFs?”
Tricky Trades and Cryptocurrency Insights
21:49 to 24:27
Analysis of the challenges in trading Bitcoin and Ethereum alongside market sentiments.
“but it just, just odd, you know, just tricky.”
Technology and Consumer Discretionary Sector Review
24:27 to 28:00
Discussion on the performance of the technology and consumer discretionary sectors and their leading stocks.
“So I'm always thinking in terms of swing trading when I'm talking on air, but that's just that hat that I have on.”
Show all 23 chapters
Market Overview: Week in Review
28:00 to 29:15
An analysis of the week's performance of key stocks, including Amazon and Tesla.
“Here's a look at the weekly for XLY up 2.4%.”
ARKK and Medical Stocks Insights
29:15 to 30:50
Discussion on the performance of ARKK and insights on medical stocks within the fund.
“What do you make of this action here for ARKK?”
Energy Sector Analysis
30:50 to 32:52
A look at the energy sector with a focus on solar stocks and key market movements.
“Going back to the energy thing, just one thing that of note, pull up first solar.”
Home Construction and Real Estate Trends
32:52 to 35:16
Examining the performance of home construction ETFs and related stocks.
“So the reason why I say that is wait a few days and see if it's for real and it tightens up around there.”
Consumer Staples and Tech Leaders Performance
35:16 to 37:15
Analysis of consumer staples and tech leaders' performance in the market.
“But it's a good signal to look at for the health of this space.”
Airline Stocks and Market Rotation
37:15 to 40:06
Discussion on the rotation into airline stocks and the implications for investors.
“So I think it's probably one of the, I don't know, it probably is the best mega cap looking stock out there right now.”
Biotech Sector Insights
40:06 to 42:08
An overview of the biotech sector's performance and notable stocks this week.
“And then we talked about the biotech area as a notable place of rotation this week.”
Analyzing Spotify's Potential
42:40 to 45:16
Discussion on Spotify as a buying opportunity based on recent performance.
“I'll be fast because I just looked at how long we've been talking.”
Earnings and Stock Setups
45:16 to 47:29
Insights on stocks like AS and PODD as potential opportunities due to earnings.
“Let's finish this section with a look at POD.”
Market Chart Analysis
47:29 to 56:00
In-depth analysis of market charts including SPY and NASDAQ trends.
“but that top wick, if you can make that out, is a little bit bigger than the bottom wick, meaning that you traveled up a lot higher and then came back and didn't close so strong.”
Market Navigation and Strategies
56:00 to 59:02
Learn about effective strategies for navigating market fluctuations and trading decisions.
“So whether the market listened to you or whether savvy traders listen to you.”
Position Trading Insights
59:02 to 1:02:05
Explore the nuances of position trading vs swing trading and managing risks.
“Well, I want to say you did a really great job of bringing all of that full circle to the very beginning of our conversation.”
Songs for New Beginnings
1:02:05 to 1:04:33
Discover heartfelt song suggestions for celebrating new life and transitions.
“If you're position trading, you need to know all the news, all the fundamentals to understand risk, you know, what risk you're taking there.”
Transcript
Automatic transcript. May contain errors.0:00If your organization isn't managing its data with Everpure, then it's likely scattered all over the place.
0:06Mike Webster:My lord, for three days have I ridden to bring thee warning. The records thy great AI machine requires are strewn across five kingdoms. Yeah, the Everpure data management platform unifies data so you can always find it. No messenger needed. No more running around. Get out of the data dark ages with Everpure, a new era in data management.
0:40Mike Webster:good afternoon everyone and welcome to stock market today for friday august 15th it's alissa quorum here and we've got a lot to unpack this week on the index level things are still looking good but a lot of rotation underneath the surface we also want to provide you a historical look at where we are at in the market. Just some food for thought. And joining me now for a deep, detailed discussion is my colleague, Mike Webster, getting hydrated to kick off this next, you know, 51 and a half minutes, perhaps. Oh, man, you're already starting with me. Don't get me started. Well, I'm just so excited for this last show in a while, last show of 2020, what year is it?
1:262025, I actually had to look because I am that old, with our great Allie. And I know you'll circle back to this at the end of the show. Don't worry, folks. She'll be back in 2026. But we are just so excited for you to be a mommy. But we will table that to the end, I guess.
1:45Mike Webster:You're so sweet. Yeah, let's get to a lot of fun stuff. And we'll see where we end up at the end of this show, but let's give a little bit of a roadmap. So we're going to give a high level look at the major indexes. Then we want to give some context to what we're seeing in the market now, past precedent for our knowledge, for our analysis. Then we want to get into some sector analysis because there was a lot of rotation this week. That'll be really helpful. Some stocks for the radar, then of course, we've got Webby's charts, everyone's favorite charts of the week. So we'll get to all of that first.
2:24Mike Webster:Let's take a look at the major indexes. I'm going to share my screen and we will start off with a look at the NASDAQ composite. On the day, down about four tenths of a percent. Meanwhile, the S &P 500 on Friday, down three tenths of a percent, right at highs. The Dow up one-tenth of a percent on the day, fading a little bit there, but still right around that 44 ,000, 45 ,000 mark. And then small caps, the Russell 2000 edging lower today down about a half a percent, but it was a pretty big week for small caps. The Russell up some 3 % while the NASDAQ, which has been leading the last couple of months, up eight-tenths of a percent on the week.
3:11Mike Webster:We'll also look at the weekly gains for our other major indexes. The S &P up nine tenths of a percent for the week and the Dow, your favorite Webby, just kidding, up 1.8 percent for the week. So what do you make of the rotation that we've seen? Because progress for the NASDAQ and the S &P, but the Russell was really the standout this week. So this is when the market gets very tricky. The general theme is going to be backing off of the gas, not slamming on the brakes, but backing off the gas and just looking to tap on the brakes, but being flexible. Because I'm seeing a lot of cross currents that are going on.
3:56And when that happens, there's a time to push it really hard. And then there's time to be completely in cash. And then there's other times like now where you just want to be cautious. And as you're going into any new positions, I'd really make sure that you've got a logical tight stop there, meaning that it is clear where you're going to exit because just seeing a lot of things that just are bothering me, but there's other things that just look normal. So let's kind of go over it. We saw a lot of rotation that you're not seeing on the index level. It's great that you brought up the Russell. I do have a position in the IWAM and the TNA, which is the triple of that, but I did reduce it today.
4:45But this looks the healthiest, but let's go out to the weekly on this one. This one has done this so many times since... Actually, unzoom your chart a little bit to go back further. Yeah. Because every time it looks really set up and it's really the 2021 that, that threw me when it was blasting off there. And I, I, I gas that one hard and it came back in and, and every time there's these really nice structures in here, we're not really nice, but fair, you know, good enough that they should have moved higher. And for some reason, you know, The institutional money just didn't want to go there. They kept going into the FANG stocks, the mega cap stocks.
5:32This one now is set up with a nice cup with handle, kind of V-shaped cup with handle that is breaking out. So in a perfect world, if I could tell the market what to do, it would play in the small cap and the mid cap space. And just let's go to the FANG U on a daily or the FANG S. Yes. And just let this kind of come in, because it's wedged up the way you drew it there. And just kind of maybe test the 50-day or even below that. That would be normal. But last time I checked, the market doesn't listen to me. Does it listen to me?
6:11Mike Webster:Sometimes. No, it doesn't. It never listens to me, but I wish it did. So when you're just inching up there like this, That's what we call a wedge or what Bill O 'Neill, the founder of IBD, would call a wedge. And it's actually a sign of weakness. You're not shaking out anybody, really, because lots of people, myself included, will use the low of the day or the low of the day before or the day before that as a stop, as a line in the sand. And when it's just inching up like that, it's not really showing power, but it's also not shaking people out. So we're really vulnerable, I think, to a break.
6:50And of course, you know, the kind of elephant in the room and Ed Carson, you know, reminded us before the show. But it's been like top of mind for me is, you know, we've got Jackson Hole next Friday. So it's kind of like a really Jackson Hole is when, you know, Powell will talk. And many times he'll kind of give a new roadmap or make some major changes there. They could be for the better. But between now and then, you've got this waiting game of just it's kind of like you're in a stock that's about to report earnings and you just kind of have to wait. And that allows it things to chop around. So I'm just concerned that, you know, that we are going to be coming in.
7:32And so that's why I just don't want to press it. At the same time, we've got some some money flowing into the health care area, certainly into the housing related areas, most likely because they, you know, foresee or the market is seeing that, you know, mortgage rates would, you know, should come lower. Doesn't mean they are, but that's what's happening there. And yeah, the XBI looks good. And I'm trading that on Swing Trader as well as myself personally and the ITB and XHB, which are ways of playing the home builders. And we're doing that on Swing Trader as well as I'm doing it myself because that's where the money's flowing.
8:11So the market doesn't always have to fall apart. Sometimes you just rotate and it sells off in one area and then that money goes into another area. Seems like that's what's been happening this week.
8:23Mike Webster:Right. Okay. Back to the indexes. Let's talk about where we're at with the power trend and some of the stalling type action that you've seen. And I think that'll set us up really nicely for that historical precedent review. Sure. So back in 2011, Bill O 'Neill, Charles Harris, and Justin and myself did a big study on stalling days. And we came up with some very precise rules for it. And it was basically, you know, that portion of the IBD market school was really Bill influenced. He was very particular about what he wanted to classify a stalling day. And stalling is a form of distribution. Normally, when you think of distribution, you think of a bad day down with a pickup in volume.
9:14That's the historical way. Technically, it only has to be down 0.2 % on a pickup in volume for it to be distribution. And it doesn't look at the nuances of the closing range spread, things like that. But the stalling rules do look at those nuances. And we've had an excessive amount of stalling, basically just running out of gas, like moving up, but not moving up much. And we've had it like four days over an eight day window of time. And that was some work that Charles, Justin and I did as part of market school that we call it a clustering of distribution. Normally, it's normal distribution, not this stalling distribution that happens in a short period of time that then tends to move the market lower.
10:05So we've had enough stalling in a short period of time to do this rare thing that, you know, and Jess and I have been working on this this week and looking back at the times and it's only, you know, a little more, maybe less than a dozen times where you had stalling in there with this distribution cluster. That's a lot of words. Let me simplify it. You're running out of gas near the highs. that's a sign that the market is just tired and tends to come down. You combine that in with the fact that our low is above the 21 day for a long period of time. And then we finally had that break puts you in a unique position that doesn't happen very often.
10:46And we have a classic example we're going to talk about in a second. And that's what's bothering me. Maybe if I hadn't done the historical work and looked back at all the times where our low had been above the 21 day for a long period, of time, and then we finally touched it or went under it, like we did there on your marking, you know, I wouldn't be so negative. Because those things, it was really a character change that tended to happen after that break of the 21 day, your first kind of overdue break of the 21 day, things just changed. And we're a lot harder. So unless you have something to add, do you want to look at that historical example?
11:27Mike Webster:Let's do it. So the first date that we are going to go to is 9-29-1980. Okay. So this was the time, and we did this, I think, two Fridays ago, where we were talking about this of the extended periods where your low is above the 21 day, And this was the longest. So it was 109 days that it was above that. And then when it broke, you know, this is what it looked like. Kind of similar to what we just had. Let's go to the next date. The next date is 1016 of that year. Okay. So very similar, right? You broke for 21 day, and then you kind of came up and then this is where we had stalling a distribution cluster of stalling then what we didn't have is this bad distribution day that we had there on on 10 16 so we're still waiting for that for these um to match up but going into today this looked very similar and again it was just a change of character after you broke that 21 day and so let's go out to the next.
12:44Mike Webster:We're going to 1114 of 1980. Okay. And so it's not terrible, but it was came down enough to push you out of a lot of stocks, right? Because you come, you break your 21 day, not bad like it did before, but just kind of grinding lower, found support at its 50 day, moved up once, just a head fake. And then the reason why we're pointing to this day, the 1114 is your low is above your 21 day for three consecutive days, which is a key thing that I like to look at. But let's look at the next date. Okay. So fast forwarding in time to the following spring, we're going to go to 4-1-19-81. So we were over here.
13:31Yep. So you can see that although you end up going higher, it's just like I talked about a couple of weeks ago, a character change in the uptrend and more of this choppiness where it's just harder to make progress. So that's, if you could go back and you knew that this is what ended up happening, you would want to ease off the gas, not go to cash necessarily. But, you know, there's some scary days in there. Like when it broke the 50 day, like that's bad. I'd go to cash there because you don't know how much lower it's going to go. So just a different type of environment. This is what I'm concerned with.
14:10But as I always say, you trade the market you have, not the market you're afraid of or the one that you want. But this is lining up enough that, you know, is lining up enough before the distribution cluster with the heavy stalling. It's just kind of like, man, if you don't, you know, don't look at historical models if you're not going to use them. So that's why we're going over this today. And can you read off the dates that folks should study? Yeah.
14:41Mike Webster:So this is the image that you just sent me not too long ago? Okay. And then I have a follow up question for you. But for the dates to study, so this is this one that we went over. We started with 9-26 of 1980 thereabouts. The other dates to write down would be 12-13-82, 2-8-1993, 8-12-97, 6-19-78, 4-25-91, 1-12-99, and 8-1 -23. So those would be where you would start and then play through? Yeah. So those, just to be clear, those weren't stalling. Those were the times where your low was above your 21 day for an extended period of time, of which this one was the poster child at 109 days. The other ones went down from 80 days down to 60 days.
15:46and everyone should go to that date, ask yourself, what would you do when it finally breaks the 21 day? And then go through day by day, one day at a time, and just ask yourself, what would you do in the market? And notice the character change that ends up happening. And on balance, they end up going higher. But again, this is kind of the perfect one to look at for kind of the roadmap to expect. Now, if things change in a really bad way, Like, let's say Powell says something really that the market doesn't like. All bets are off and the market's going to do whatever it's going to do. Or maybe we get some good news over the weekend.
16:25You know, I haven't been watching the news today, but with the, you know, with the president in Alaska, maybe something positive happens there. Then when news changes, you change with it. But given the data that we have right now, this is kind of our current roadmap. So I'm thinking of a trip down to the 50 day. So that's in the back of my mind.
16:47Mike Webster:So we have the caution flag raised at this moment. So switching from the press the gas moment that we had a couple of months ago, and maybe even, you know, continuing to lean aggressive recently and pivoting more towards being very selective, tightening stops and smaller position sizes. Is that what I'm hearing from you, Webby? Yes, in general, but also looking for new spaces to go into areas that hadn't been participating recently, because you want to remember that all of us can go to cash, go 200 percent margin or anything in between or go 200 percent short or 100 percent short. The institutions, mutual funds on balance have to stay 95 percent plus invested.
17:38So that's why you tend to have the market go up over time because they're not actually getting out of the market unless there's net redemptions. But they just have to move around. So you could see selling in some of the megas just move into the small caps and that money goes a long way to push things up. Same thing with, you know, the areas I was talking about, like medicals have been kind of overlooked for a while or just out of favor. Seems like money's flowing back in there. And, you know, obviously the interest rates are going to be coming down. That's what the market believes. That's what everyone thinks.
18:14That's what I think, you know. And it appears that Powell is kind of boxed in because not because of what President Trump has said, but because he had two people who voted in a different way than he did. They dissented. And he can't risk having a third in there. So unless the data changes, he's going to have to cut, but the market already knows that. But that's a good thing for any interest rate sensitive areas.
18:44Mike Webster:All right. Well, could be an interesting week ahead with those dynamics at play. And you mentioned sector rotation quite a bit. So why don't we take a look at our sector ETFs? We added a couple this week. So I'm going to open this list here. And you are always so great at reminding us to focus on the relative strength line for these different ETFs. And while you were out last week, we didn't have quite the in-depth Webby review. But Ed Carson, I do want to give him props. He pointed out some early signs of rotation into the builders as of last week. And that sort of analysis really paid off, I think, this week for traders.
19:34Ed is a smart dude. I've always said Ed is right about everything except for one topic that we won't get into.
19:41Mike Webster:Yeah, I love y 'all's rivalry. It keeps life interesting, right? Yep. So here's a look at chips. And I would say on balance for the week, if you're taking a step back, of course, off highs, but held in pretty well. If you look at that relative strength, perhaps it's not at the same rate of outperformance that we were seeing in that April-May timeframe, but still holding up well overall. Even when you look underneath the surface, we saw some chip equipment makers taking some pretty big hits this week, Webby. Yeah. So let's go back to the daily on this one. And yeah, there was some pretty bad hits there, and given the fact that this was only down 2%, I would class and state above its 21 day, I would say that's a win for it.
20:36AI isn't going away, but that does not mean that chip stocks and AI related stocks can't base. I mean, if you study history, stocks, even the Cisco's of the world, they didn't go straight up. They would go up, base, go up, base. And this, you know, I'm not, you know, it's too early to tell if it's going to base out. It just looks normal and natural at this point.
21:02Mike Webster:Next, we have financials underperforming on the day and relative strength as a whole. Still on the weak side, I would say. But in terms of the setup, there are a number of financial stocks that have been setting up nicely. What do you think about financials? And especially with interest rate cuts back at the forefront. I really liked them, but it was, there was, I had some head fakes this week. Like let's pull up Goldman Sachs. That was the one that I was, that we were playing and it's not broken, but you would think given that backdrop that it, it would have had a really nice day today. You know, on a Friday closing, you know, I would have expected either just down a half a percent, maybe 1 % really closing at the high.
21:47So I backed away from that. It's not broken. You know, that's a good thing. These things aren't broken. but it just, just odd, you know, just tricky. Yeah.
21:59Mike Webster:Okay. Let's go back. Bitcoin, another trick, tricky trade this week and full disclosure, I do own some as of late August, but giving back a lot of the weekly gain here, Webby up only a half a percent by the end of the week after a promising start to the week, but really faded. Yeah. And I was, you know, pushing the gas on that one two days ago as it was getting up, you know, clearly breaking out there. But it's a breakout failure. And the funny, not the funny thing, but the odd thing was that Ethereum had really been leading in this space. And I'm not a crypto guy and I'm playing one on TV either.
22:43But it was funny how, you know, I bet, you know, the one that everyone goes to or Bitcoin was just lagging versus this. If you did a relative strength of the two, this is where all the money was flowing. This one still looks healthy. It's just pulling back. You know, you would expect another, you know, another pullback. Maybe it comes in to 31 or so if it's going to be normal and natural. whereas the ibit when when you get a breakout failure you have no idea where it's going to go sometimes breakout failures form big bases sometimes they just come right back but um that was another warning sign and maybe it's just people are taking their their bitcoin and moving it into ethereum but um it's just uh again another odd thing so when you stack up another enough odd things, it just tells you, you know what, just back away.
23:37Like you don't have to play aggressive. I'm a very aggressive trader. You don't have to play aggressive all the time. There's a time to just be careful because then if all of a sudden the market breaks, you're in a position to just pull the plug a lot easier. If you're up to your eyeballs in stock, as I was, you know, earlier in the week, yeah, you know, then it makes it, it's harder to go from 200 % long to zero. you know, it's a lot easier to go from a lot less to zero if need be.
24:08Mike Webster:Yeah. And it depends on what your trading style is, your cost basis. For those of us who have been in it a while and do have that lower cost basis, obviously I don't like the weekly action, but it is still holding above the 10 week. So trying to give it a little room to work from that perspective. See, that's a good point. So I'm always thinking in terms of swing trading when I'm talking on air, but that's just that hat that I have on. If I had a position trading hat on the way you like to trade, yeah, as long as this, really this base stays on top of the last base, kind of think back to the Nicholas Darvis type of thing, it's fine.
24:47You can just let it wiggle around. Swing trading, you don't let it wiggle around, but as long as it just, it can build just little Darvis boxes all the way up to a hundred, no problem, but just different styles.
24:59Mike Webster:Yeah, we'll see. Okay, next on the list, the technology sector taking a bit of a break this week. So are we finally going to see more of a rotation out of tech, which has been the leading area since that April bottom? possibly you know i i don't know i i really don't know because you look at this chart and it doesn't look bad it's just everything under the surface that i've seen like all the charts that we've looked at they don't look that bad they really don't it's just if you've been seeing a lot of things getting hit so hard and things that were breaking out and failing just giving you it's kind of the mosaic of everything you put all the pieces together and that colors how you look at it.
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25:46But keep it simple. Your low is still above your 21 day. So you lean bullish.
25:52Mike Webster:Well said. Okay, XLI, here's the industrial sector seeing that relative strength turn into relative weakness lately. Anything else to add? No. All right, we'll keep going. Because I know it'll be two hours if I have it. Utilities. I think we're still more focused on the AI utility plays versus your more traditional defensive utilities. One way that we like to take a look at that is with the UTES ETF. This has a lot of those AI type plays. And as this has been pausing to catch its breath after a really nice run up in that July time frame, we're seeing relative strength come off a little bit right at the 21 day line.
26:41Mike Webster:So I guess the silver lining here for this could be, hey, maybe we're going to see some of these stocks set up again, provide some additional buy points. I know CCJ was one that we were looking at. This is setting up here. So something to keep in mind. Yeah, I mean, that looks good. A nice pullback into the 50-day, getting support there. You could have actually bought a little bit today, but I like to wait for a little bit more strength in that line right there. Yeah, even yesterday's high. Let's go back to the Utes, the My Cousin Vinny Index, as I like to call it, and do the declining tops line there.
27:20That's what I'm looking for. If it can break out of that, then I give it a shot. And what's good about it is it gives you an exit strategy that today's low at that point would be your exit because it would be back underneath the 21 day back underneath this. So all these setups like that or the CCJ that you mentioned, those are the types of ones that you want. You don't want something up in nosebleed territory that could come down 10 or 15 percent before you know that you're wrong. Yeah.
27:49Mike Webster:OK, so we'll continue to watch that area. Moving on, consumer discretionary. You have your Amazon and your Tesla in here. Both of those had pretty good weeks, I would say, at least as those last check. Here's a look at the weekly for XLY up 2.4%. Amazon had some grocery delivery news. So a nice week here for Amazon up 3.8%. Tesla perhaps easing as the week progressed. So this was another one where started off the week great, but came in. Maybe it's just not quite ready yet. Still perhaps setting up, and this is one, this is a story stock, right? This is not a stock that you're in for those beautiful accelerating fundamentals at this time, but one that we like to put tabs on.
28:38Yeah, not at all. The Tesla needs time in my opinion, but the Amazon does look interesting. We did try that on Swing Trader. We still have our half position that we started off with. But we're not going to let it probably go underneath yesterday's low. If it comes into that, we'll be backing out of it. But it's not a perfect setup, frankly. It was, you know, there wasn't a lot of perfect merchandise around.
29:06Mike Webster:Yeah, exactly. I think that's also some good color to give the audience. So Thursday's low, we'll keep an eye on that for Amazon. Next on our list, ARKK. Not a bad week. What do you make of this action here for ARKK? Up 3 % for the week. So it's pretty healthy when you zoom out. Yeah. So what I would do with that is look at her holding. She's very transparent, extremely transparent. Just go to her website, Kathy Woods, or ARK Funds is what it's called. And just look and see what was going on there that was probably some of her medical plays. I just haven't had a chance to look through it. But this looks good, frankly.
29:52It is the best looking one that we've seen because it's just drifting down a little bit. You can almost see like a mini two-day handle in there. And it's still in the upper, the northern hemisphere of that shelf, for lack of it. It's not really a shelf. It's more like a mini flat base. So the fact that it's up there with all this rotation, I look at that as a positive. And if it can take out the highs from Wednesday, then, you know, I'll probably be buying it.
30:23Mike Webster:Okay. Next on the list, here's the materials. Any comments here, Webby, other than overall continuing to see that lagging relative strength? Mm-hmm. Okay. Let's go to XLE Energy. Same thing here. We have not been focused on your oil and gas type stocks in quite a while. It's more of the utility power generation type energy names that we've been focused on. Going back to the energy thing, just one thing that of note, pull up first solar. You know, a friend of mine sent me something on this just going, man, these things are moving. I'm like, yeah, I haven't had a chance to look at the news. When something moves up 11%, there's got to be a reason for it.
31:11Or it typically is a reason for it. So I would just look into the solar space to see if there's something unique going on right now, or if it was just some news item that it's, you know, it was all just one day, like a one day wonder type of news. But that could be an interesting part of energy.
31:34Mike Webster:Yeah, I'm glad you pointed this out. It's been a while since I've looked at solar. And I think when they were on the move in that late June, early July timeframe, that was also news driven. But at that point, it was just starting to get above the 200 day. Now we've established a little bit of trading history above that level and now finding support at the 50 day, which has crossed over. So a little bit more progress in time in developing here, sort of that progression off of the bottom. So a notable move today, no doubt. Now, the problem with this is even if you go with tan, which is the way I like to trade the solar space and not have the individual risk is if you buy it right here, where do you know you're wrong?
32:25you know you're wrong at today's low and that's a mile below us because we're up eight percent so you you know you have to if you were going to play it which you know honestly if i would have seen this earlier today i probably would have bought some um i just didn't see it and um but if i would have waited till the close to buy it now you got this long way down like because you could easily be down six percent on monday on this and it still looks normal you know so So the reason why I say that is wait a few days and see if it's for real and it tightens up around there. But it might just go without you and you've got to be comfortable with that.
33:03Mike Webster:Yeah, we'll have to see. Totally agree. Okay, next on our list, take a look at ITB. So speaking of that rotation, so I'm actually going to, I'll go to a weekly. I'm going to back track it a week. you can see that little glimmer of rotation there. A little pickup in the RS line. Had a decent week last week. This ITB being the home construction ETF up 3.9 % last week. Added on another 5.6 % this week. So a bit more notable rotation here, Webby. Yeah, so we have this on Swing Trader. I'm playing it as well. We did try the same space with XHB, which I'm also playing a couple of weeks ago. And it just as it was, you know, the same thing you were saying that that Ed was mentioning that it was rounding out and it was just acting stronger than you would have thought it would have.
34:02And so we we tried it, but we're tight with our stops and backed out of it and then had to chase this ITB a bit. But it feels like this space is for real and it is going to keep moving up. I always go to NVR, which is the high-priced stock home builder that most people don't trade. This is, I look at it as the institutional version of the home builders because any normal folks are going to be buying Lenara, Toll Brothers, DHI. Let's go to the Daily on this one. And yeah, thanks for pointing out the three weeks tight and everything. This looks like it wants to go up to, you know, 10 ,000. It looks this is how they round out, but it's not clear cut, right?
34:53Where do you know you're wrong? Well, you know, you're wrong with that red line there. It's not that far down. So I think in all of them kind of look like this. But this is the one that I always go to because, you know, you're not going to have the day traders going into this one because the spreads are so big, you know, so it's you know, real players are, are in there. And, and I just look at, I normally don't trade it. Used to trade it back in the nineties when it was like 30 bucks, but.
35:20Mike Webster:But it's a good signal to look at for the health of this space. Okay. Let's go to XLP, your consumer staples. Seeing the relative strength week in here, we are good with that as growth investors, communication services had a good week here. So going to the weekly chart here up 3.6 % for the week, this looks quite strong. And I would say this is, you know, some of the bigger holdings in here are your tech leaders. So it's not like we're seeing a total breakdown in your MAG7 tech type area just yet, Webby. What do you make of the strength here? What I make of it is it's good that some of those are holding up because we've got Meta.
36:09We were also playing Google for a little bit on Swing Trader, but we've got Meta there. And it looks to be... Hold on a second. Dude, you cannot call me every time I talk about your stock. Zuck. Zuck, man. Dude, Zuck. Leave me alone. You listen to me all day. Okay. So inside joke from way back when you're like two people got that. So what's nice about this is it'll let you know when it's broken. And that's underneath that shelf that it formed. If it comes into there, that's your warning sign that, you know, now even this space that looks like it wants to move a lot higher. Like, let's go back to the weekly on it.
36:51And I think I have a tiny position. And then there's still, I mean, it looks like it wants to go up to a thousand. You know, you look at enough charts, you know where they should move because it had that nice long base in there and wasn't doing anything. And the hot money that was in some other, you know, stocks could just rotate into here. And it's big and liquid. So the institutions like it. Right. So I think it's probably one of the, I don't know, it probably is the best mega cap looking stock out there right now.
37:23Mike Webster:So that's a great point. something else that we like looking at in addition to the health of the major indexes and sectors is what are the leaders doing right so if you're starting to see leaders breaking down in addition to this rotation type action definitely some clues to be cognizant of yeah and so one thing that i talked about on ibd live a few times recently um was just go through and put alerts like exactly where you put that line there, put them on all the important stocks out there. You can just do a custom screen for like 90 RS stocks that are very liquid and go and mark those on there.
38:07And then as each day goes by, see, are they building and moving away from those lines or are they coming back into those lines? And Bill O 'Neill, the founder of IBD, used to have me, you know, he would ask me, you know, of the leaders, what percent of them are broken, you know, and after a while, you know, when the chart is broken or not. And that was very subjective, but it was something that he would do often. And he would ask the rest of the team, the rest of the PMs to do the same, to kind of get a, again, little pieces to put together that mosaic of is the market healthy or not. And just looking at this one, it's healthy if it comes back underneath there not so much great okay moving on so that was a
38:53Mike Webster:look at xlc we'll pick things up real estate i don't think we really have much to say there jets this was an area of rotation right into the airline stocks so this week yeah so we're playing this on Swing Trader and we missed it on that first big up day there. It's just kind of like what with tan that I missed on tan and I was waiting for something. So today it was firming up there in the Northern hemisphere. And this is what I call a setup day. When you have a little tight spread closing near your highs, near an area of resistance, just something I've coined a long ago as a setup day, meaning it's setting up to break out the next day.
39:38Doesn't mean it will, but this is where you do a token buy or a normal buy here. And then if it breaks out, then you can add. And so that's where I'm looking. And again, it goes with that theme of stocks that have been sitting out for a while and things are changing. And I think that was CPI or something that came out that pushed this higher plus the feared airlines. Yeah.
40:06Mike Webster:Yeah. Yeah. And that news. All right. And then we talked about the biotech area as a notable place of rotation this week. You can see that in the relative strength line crossing over the moving averages. You can see that in the price action very clearly up 6.2 % for the week. And I think what's interesting about this is where you had some areas show strength Tuesday, Wednesday, fade a little bit Thursday and or today. This strengthened as the week progressed and finished at week highs. Yeah. So I am playing this personally as well as on Swing Trader and it looks really good. And I could see even if the market, the general market were to come into the 50 day that this space and some of the other spaces we talked about, like the home builders and the jets and, and the, maybe the tan and things like that move up while those come down that it's hard for that to happen, but that could happen.
41:06And I think it was a great observation of each day moving up, even when, you know, other things were, were weak. And when things go back through your 200 day, got to remember there's someone on the other side of every trade. There's folks who short in a lot of times, once something, a stock or an index goes back above its 200 day, those shorts are going to start to cover, which gives you some buying pressure underneath.
41:32Mike Webster:Right. Okay. Let's see. We've got healthcare. So similar here, biotech within the broader healthcare landscape. So anything else to point out here, Webby? No, I think a lot of that was just the UNH with the news. When you get people in there like Warren Buffett and stuff, you know, buying or Berkshire buying a bunch, it pushes things up. And so it's more of a one day wonder possibility. Yeah, the biotech looks quite a bit more compelling there. Harvard Business School Executive Education creates powerful connections for leaders from around the world. Their programs strengthen organizations and individuals by deepening relationships and fostering new ones.
42:20Mike Webster:Participants leave with lifelong friends, new potential business partners, and a powerful globe-spanning network of fellow changemakers. Learn more at hbs.me slash breakthrough. That's hbs.me slash breakthrough. And that's it for our sector review. Now on to stocks. Are you ready? I'll be fast because I just looked at how long we've been talking. My fault. But, you know. We needed all of that context for our week. So let's quickly talk about Spotify, a potential buying opportunity here today, up 4.9 % on Friday. Yeah. So we have this again on Swing Trader. I've got it as well. From memory, we were buying it yesterday and then adding to it today.
43:07And it fits that same thing. something that has been sitting out and now the money for one reason or another is rotating into it or the is it a perfect chart no not at all the weekly chart doesn't look that good frankly you know the base on there is is problematic but you look for where the money is flowing into and you you give it a shot let's go back to the daily so you know your exit strategy on this one would be the 50-day, or if you want to give it a little extra room, if you're more position trading, the low of yesterday. Okay.
43:46Mike Webster:Let's go to ticker AS. This is a stock setting up with earnings due next week. Nice sideways action after that last earnings report in May. We've seen some triple digit growth on the bottom line, acceleration on the top line here as well. So perhaps earnings could be the catalyst. You never know, but I think we want to be keeping an eye on setups with earnings. And this is definitely one. Yeah. So I'm not going to step in front of something before earnings in this type of environment, but that looked really tight. And I'll thank a friend of IBD Live, David Ryan, for bringing this to our attention.
44:33many times over the last several months or so. And it looks really nice and constructive because the 10-week line, your red line there, just kind of caught up to the price. And you can't ask for it. How tight is that base?
44:49Mike Webster:It's pretty tight. We'll get to it soon. Sometimes when I draw a bunch and click fast, it gets unhappy with me, especially when I'm all zoomed in here. Don't worry about it. It's tight. 11%. Yeah, that's tight. 11%. All right. We'll keep an eye. This is one for sure. I know we'll be covering on IBD Live next week. And that's for calendar days when earnings are due. So coming up on 8-19. We'll be watching closely. Let's finish this section with a look at POD. P-O-D-D. This is insulate in the medical sector. Seeing momentum since its most recent earnings report with some acceleration on the top and bottom lines.
45:30Yeah. And that's where I was going with it was the acceleration, the earnings, earnings behind you, a positive reaction on the earnings day. But there really wasn't a buy point there. And so now it's formed one because it has this little kind of odd shaped handle there, takes out those highs. I might give it a shot, not in a big way. Let's go to the weekly because it's not a nice trading stock, but I do like this space. You know, it's basically for folks like me, you know, like I'm pre-diabetic, but this is more for diabetic folks. And so I'm interested in that space. And it also is hasn't been really participating.
46:12It hasn't been a laggard because you can see the RS of 82, but it hasn't really been participating with all the AI, you know, stuff that has been just going up so much. So it kind of fits a lot of the, you know, checks a lot of the boxes of what I'm looking for. Is it a perfect base? No.
46:29Mike Webster:Right. Exactly. Okay. I think we're ready for Webby's charts. Over to you, Webby. All right. Let me do this thing. Just one sec. I get this. Share. You make it all look so easy. Okay. Can you see my way? It's perfect. So this is what makes it so hard. You look at this candle. This is the Bob Weir. Take a step back. Look at the weekly big picture on here. And it looks great. You know, you had a bad weekend here a couple weeks ago. Now you've moved up to new highs. You've got a blue candle, which means we close higher than our open, you know, our Friday close better than our Monday open and just two tiny wicks on there.
47:14So if this is all I saw, I'd be massively bullish. It looks great. Great. And that's why we look at everything and just to confuse us. Now, this one looks more stalling, right? Because you can see that and what you want to focus in on is not just that the candle is blue, which is good, but that top wick, if you can make that out, is a little bit bigger than the bottom wick, meaning that you traveled up a lot higher and then came back and didn't close so strong. So this is actually, unlike SPY, is a weak-looking candle, in my opinion. Not super weak, but just stalling weak. Now we'll go over to our regression lines.
48:03So we are using the start date of this gap-up here. And going out, I believe it was... In mid-May. Yeah, mid-May. So for our Spotify listeners on May 12th, we're going out to July 22nd and locking those in. And you can see that when it came down, it really did exactly what it was supposed to. When it came down to its minus one standard deviation, the solid green line, and then move back up to what I call home base or your white line there, your regression line. So it's still acting normal and natural. But if you notice, it's a bit weaker than last time when it when it bounced up in late June. It did what it normally would do in a regression where you you bounce up.
48:53You actually pass the white line, you pass home base, you overshoot it, and then you have to come in. And this was kind of textbook where you overshot it, you started running out of gas on July, right before the 4th of July, and then just held the line. So this is now giving me the weekly bar was on Spive was looking good. But this is telling me it's just is weak. You want it to start living above that white line and hugging it the way it did in, you know, pretty much all of July. Now let's go over to the NASDAQ. And this went a little bit better because it did the same thing. It came down and tested it.
49:36Then when you went back above your minus 0.75, which is your dashed green line here, your expectation is to go back to home base, which is your white dashed line there. And it did that, and it overshot it by a little bit. So here on this chart, NASDAQ is better than SPY. So that's what makes it so tricky. It is what it is. So you just put all these pieces together. Now we're going to go over to our 50 % retracement. And on SPY and NASDAQ, there really wasn't anything. I could have manufactured something, but that's not the way I like to play. So what I wanted to do for this was to go to the IWM.
50:19Again, something I am trading and looking at the 50 % retracement there. Here it is on the daily chart, but let's go to an intraday chart and we'll go to the 65 minute. And you can see from this move up that it had earlier this week from the breakout to the peak, it's in the northern hemisphere. So 226.31 is your midpoint there, at least the way I drew it. And this is an art, not a science, but it's still in that area. So as long as it stays above the 226.31 in general and is up in that up to the 231.5 essentially, then I'm going to look at this as a positive. Now we'll go over to my levels. And on here, I tried to simplify this a bit.
51:11The first level on here to be concerned with is 639.46, which is your high from the end of July. Your next level, and that'll probably get hit. That would be normal. But your real concern level would be down here at the 619.29, which kind of coincides with the low here on August 1st, but also your 50-day. Then once you start going below that, then you've got problems because then you're underneath the 50-day and your next stopping point would be 605 and change. And then your final line in the sand would be from the, you know, using the low there on May 23rd, and that would be 575 and change. Let's look at the NASDAQ.
52:02Similar lines on here. Use the high from July 31st as your first line in the sand, and that's 21 ,457. And then your most logical place where it should get support would be the low of August 1st, which coincides again with your 50-day at 20 ,560 and change. than your other levels on here. And we'll deal with those when we get there, but you can see them. They're very similar to what we have with SPY. Now moving on to our favorite chart. And I think this is your favorite chart.
52:40Mike Webster:This is my favorite chart. I like this chart a lot. I like that. So it's just simplified, just your 21-day exponential on here. Your low is still above it. So why is Mike worried so much? Stop it, Mike. And now we've got the NASDAQ. Same thing. Your low is still above there. So we're going to toggle over and, um, oops, got a couple more. Okay. Hold on. Uh, okay, cool. All of a sudden my screen went blank. All right. So we are going to, can you see the WebE RSI now? Yeah, we've got it. Okay. So with this, this is SPY and this is our WebE RSI RSI and it's just measuring, um, our low versus our 21 day.
53:24And that's this little teal color thing down here. And we express that in average true range numbers. So just your average move from there. So it's still healthy. 1.5, nothing really to worry about when you look at this. Same thing on the NASDAQ. It's right around 1.5, really nothing to worry about there. I mean, these index charts, they don't look bad. I'm not going to say they look bad if they don't. And then we're going to go to my daughter's favorite charts. And this is the Bob Marley off high. And this is just a way of measuring how far are you off your highs in terms of ATRs. And we use the low of the day on here.
54:06And we just want to stay in the green area, which is within four ATRs of our high. But more importantly, we look to see is a breaking character. Right now, it's not. The first warning of breaking character would be really kind of going underneath this low on, it looks like July 16th there. And that's, you know, like 1.6 ATRs off. That's not a big deal. Really, the issue would be coming off underneath the August 1st, which is, looks like three and a half, give or take. And we will take a look at the NASDAQ. And you can see this basically same thing. And on the August 1st, it was about, again, three and a half ATRs off the high.
54:53I haven't pulled up the IWM. Let's just see how bad that looks here. It looks bad, but that's what happens when something's been out of favor and looks like it wants to hopefully start moving up into the green zone.
55:10Mike Webster:We'd like to see that. and Webby I think I need to correct you on something when you said that the market never listens to you I beg to differ because when we were talking about the power trend and this first pullback to that 21 day line where we got that reversal on 623 uh I want to say was that a Monday? Yeah, that was a Monday. That Monday morning on IBD Live, I asked you, this is a pivotal moment. What do we do if we get a reversal and a bounce here, leading the witness a little bit? But you said that's where you press the gas. I think I said slam on the gas. Something like that. Slam the gas.
56:02Mike Webster:And you were right. So whether the market listened to you or whether savvy traders listen to you. That definitely was, I think, a big payoff moment in the market. Well, I appreciate that because whenever you're making market calls, you're wrong all the time. But this phase, we've been able to navigate it pretty well. And I will say, with at least the Swing Trader product, if you look at the downside reversal that we had a couple of weeks back. And Justin and I talked about this on this Tuesday's Swing Trader update and walked through this. And I would suggest people go on YouTube or wherever you like to watch that and watch that episode because we walked through what we did there.
56:50And we had gone from being on margin during that time to 31 % invested on that, not on the gap down day, but on that day there. And that's when we get into all these the nitty gritty of things. And I might seem a little too active for most people, which I totally get that that's the benefit of it. Now, the downside is sometimes things can just go, you know, without you and you then have to play catch up. And that is that's part of the game. Nothing, no system, no style is perfect. but I lean on, on historical work. And that's something that, that Bill did as well. And I kind of took it to, you know, a little bit, he was more historical work with individual stocks and he would always use precedents for individual stocks.
57:41But I do that on a market level that he, that wasn't, he wasn't opposed to it, but that really wasn't his thing. And it really helps, you know, because you look back at history and use it as your guide, because think about it, It's just human emotions, right? Fear, greed, hope in reactions to news drives each one of those. And we're in this news environment. So what do we have next Friday? We have a big potential news thing. And who wants to step in front of the freight train of that? There could be a non-event. So my base case is a drift in to the 21 day. But sometimes when things start drifting in, they accelerate.
58:20rate. So I hate to say it, but man, it just, I would not be surprised with the trip down to the 50 day over the next few weeks. But if we just go power through and take out these highs that we have this week, I'll just completely change, you know, like you don't, and that's something, another thing that I learned from Bill is we talk every Sunday night and he would be really bullish on Sunday. By Tuesday, he's more bearish than he was bullish or vice versa. And he didn't care. He just lived in the moment and interpreted the market as it was in not caring what he said before. So you just want to know what's normal and natural and act accordingly.
59:01And what's your take on the market before you leave us?
59:05Mike Webster:Well, I want to say you did a really great job of bringing all of that full circle to the very beginning of our conversation. So props to you. No, well, I am keeping a very close eye because of what you've taught me on that 21 day. I am more of a position trader than a swing trader. So I think for those folks, and all traders, active traders right now, there's a little bit of a conundrum here, right? Do you lock in the big gains that you've made in anticipation, perhaps not totally predicting, but with the evidence that we're seeing, there are reasons to be lightening up here, right? And it depends on what your gains are looking like for your individual leaders.
59:59Mike Webster:Are you willing to sit through a base or are you not, right? And looking at those sell signals on the stock level, but also the index level, which is really important for me too, because a big part of my portfolio is in leveraged index ETFs. So I definitely am keeping a close eye at the moment on what we're seeing for the indexes, but we'll have to see because pretty soon here, I may not be able to keep as close of an eye on things. So wish me luck. But hey, at least I can trade from my phone. So I haven't decided yet that, hey, oh, I'm just going to go all the cash or I'm just going to put everything in spy.
1:00:38Mike Webster:I'm not willing to give up my hard earned gains from that market turn in April just yet. So, well, I'm keeping my fingers crossed for your trades. My suggestion to you would be just have staggered stops in there because the worst thing would be is like you're taking care of your, you know, you're in labor. And then all of a sudden your stops hit and it just goes down to the penny of your stop and turns and goes back up and you're frustrated. So an easy way, and this is for everyone, let's say you're traveling or what have you, or you've got a full time job. Don't put a stop at one level, but you can break it up now with commissions being free.
1:01:17Let's say you have 1 ,000 shares or something. Break it up into 50 shares at a time. Put stops all the way down. There's nothing wrong with that. It's free. Take advantage of that. And one thing that you said was, are you willing to sit through a base? That's a good question to ask folks because I always talk a lot in terms of swing trading. From position trading, you got to remember an average base is 25 to 30 percent deep. There are shorter ones and there's deeper ones, but average 25 to 30 percent. So look at your stock. If you're looking at things, the market starts cracking and you go, wow, you know, where is 25 to 30 percent on this?
1:01:56Will I still be up on my position? That's the first thing you want to ask yourself. And then are you willing to sit with that and really study your stock? know the fundamentals. If you're position trading, you need to know all the news, all the fundamentals to understand risk, you know, what risk you're taking there. And if you're willing to sit through bases and there's nothing wrong with sitting through bases, if that's your style, you know, so it's whatever works for you.
1:02:24Mike Webster:Yeah. Or at least, you know, pull back to the 50 day or 10 week. Right. So, oh yeah, those happen all the time. Like if you look, if you study models, they don't go and stay above their 21 day for a year. You know, they go, they break their 21 day, they break their 50, they form a base, they move up higher. And so, you know, lean on the relative strength line, moving averages. That's a really good, happy medium there because you can use it on a daily chart for active people, weekly for people like you, or if you're even slower and you don't like to trade much, use it on a monthly. Yeah. And trading around the core, right?
1:03:02Mike Webster:You don't have to make these all or nothing decisions. So exactly. So what is your song for the week? Someone, someone suggested a nursery rhyme, I think in the, uh, the YouTube chat, but for me, it's gotta be the final countdown. It's the final countdown. So that is getting amped up for the final. I'm so excited for you in the fact that you've got your family close by that is, everyone's going to be helping out and you and your hubby are going to go on to this new part of your life that nothing is better than having a kid or kids it is that it's a game changer so much more important than the market or work or anything else so i came up with some some songs for you i was trying to figure out which one so this isn't it but sweet child of mine was would be one.
1:03:52Oh, yeah.
1:03:53Mike Webster:Classic. John Mayer's Daughter would be another one. I thought, Stevie Wonder, Isn't She Lovely? Oh, yeah. For Your Little Baby. That's the perfect newborn baby girl song. There you go. That's literally what it's about. Well, thanks, Webby. We will miss you. I was going to go to the store and get a big sign and be like, behind me and I just ran out of time so imagine behind me this big congratulations you know we will miss you all I need is the the song ideas so actually we do have a Spotify playlist and of course we got some Stevie Wonder on there so there you go yeah he's cool man yeah that's the perfect that's a great song for for that type of playlist so yeah I'm gonna miss everyone, but don't worry.
1:04:48Mike Webster:Everyone's in great hands while I'm gone, you know, and I'm sure some people will be happy to get a break from me. But you have, in addition to your regular host and co-host lineup for Stock Market Today, Alexis Garcia will also be in the rotation. So looking forward to having her join the Stock Market Today crew. She's done it before, but she'll be doing it on a regular basis moving forward. And then IABD Live. Austin girl. Yes. Yes. She did go to UT. And we also have a great hosting lineup for IABD Live. Trying to think of the weekly order that we're roughly going to be going with. You have Justin, Ed, Ken, Rachel, and Dave as your IABD Live hosts.
1:05:38Mike Webster:So it's going to be a fun time. I'm looking forward to cheering all of you on from the sidelines. Everyone will be so happy when you come back, but please take the maximum amount of time and spend it with your baby and your hubby and your, and your family, you know, and just, uh, man, nothing more special. It does not, nothing of it is remotely important. You're too kind. It's a great reminder. Thank you so much for that. Yeah. I'm going to miss everyone, but I will be back sometime in the new year. And it's just been really heartwarming to see all of the words of encouragement from our IEBD community.
1:06:18Mike Webster:It's definitely a big extended family. So I just wanna let every one of you out there know that I've seen your messages. I haven't been able to respond to everything, of course, but it means so much to me that you would want to offer your blessing to me and my family in this next chapter. So thank you so much that it really, really means a lot to me that there are so many people out there who have offered just such kind words about this next chapter. And I mentioned this on IEBD Live. I've been doing this job for about 11 years, I've poured my heart and soul into it. And so it'll be a good change of pace.
1:06:57Mike Webster:But I am looking forward, of course, to coming back in the new year. So I will see you all then. All right, Webby. Thank you so much. This has always been fun. And I'm going to miss doing this with you each week. And thanks, everyone, for tuning in. That is it from us for today. We hope you have a great weekend. And the team will see you back on Monday morning on IBDLiveInvestors.com slash IBDLive for all the details. And then, of course, the team has you covered after the close back on Stock Market Today, Monday afternoon. So see you then and signing off for now.
1:08:07Mike Webster:of medical surgical products and supply chain solutions serving all points of care. With a focus on what healthcare needs next, Medline strives to make healthcare run better. See how Medline is woven throughout healthcare and learn more at Medline.com.
From the publisher
Alissa Coram and Mike Webster analyze Friday’s market action and discuss key stocks to watch on Stock Market Today.
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