Indexes Gap To Highs; Pattern, Goldman Sachs, AeroVironment In Focus

30:08It closed well off its lows, got support of the 50-day moving average line. But, man, you were in for a wild ride yesterday. And then – Well, the good thing about that – I'm sorry, but go back to the IBM for a second. That cleans out all the stops there. So anyone who had any stop in there, they are all long gone. So it allows this thing to just really move. So it'd be fascinating to see. But this looks like the start of something. I don't know that I will be buying it, you know, because I don't know the story and what's turning it around. But frankly, if something like this is up 8%, almost 8%, there has to be a new thing going on there.

30:50So it's worth doing some homework over the weekend because I really love it when they clean out all the stops there. Yeah, no, absolutely. And then, again, we kind of were topping this off with NLR. Any other ETFs that you were particularly watching today? Or does that kind of cover it? No, I was working. So, yeah, it's a busy, busy times at IBD. A lot of for sure. Yeah, a lot of action there. Well, I will throw in FFTY for fun. That was up 2.8 percent. You know, look, that has a that has a number of gold stocks. I think the gold stocks are kind of fallen out of the FFTY more recently, but it still has a lot of, you know, some some speculative names that have been doing doing well.

31:36I use that less than I use Dow. OK, not saying much there. Most finance teams are spending on the wrong things. Expense reports, spend policy PDFs that nobody reads, a close that stretches into weeks. That's maintenance, not momentum. It's time to get Brex AF, a gentic finance that eliminates that work before it starts. Learn more at brex.com slash AF. Let's talk about some of the individual stocks that we had kind of on our radar. And again, there were a lot there was a lot to look at. So that was that was the positive news here. I'm going to just get back to my. There we go. So let's start with IPO, because that's kind of fun to see when there's new blood in the in the works.

32:25I did a very, very small position here, you know, just kind of a pilot position. And unfortunately, I didn't I didn't add to it. This has earnings coming up. That was another reason why I was doing a fairly small position. But go ahead and give us your thoughts on this IPO pattern. OK, so I'm just being the person who invented the IPO base. I kind of pay attention to all of these. I was going to buy it yesterday, but just with the market the way it was and right in front of the CPI, I decided to let it go. Regretting that just a little bit now because the buy point was really through the$14.80.

33:07Not even there, the$14.80. Oh, sorry. Yeah, that was truly, you know, where you would have wanted to get it. And you could have gotten it a little bit earlier, too, because there are some areas of resistance and added to it at the 1480 and added it through the left side high. And what's bad about it is that the IPO price was$14 and it traded underneath that. So for a while there, it traded down to$12. The folks who had it were underwater. That's never a good sign for an IPO. But it did come public in a time where things were a bit on the choppy side. So that's a big negative against it. But what I like about it, let's go to the weekly.

33:48And this is worth really go down to the quarterly data. If this these numbers are accurate and you really it's really hard with IPOs to know if they're accurate, you kind of have to go into the SEC filings and look at it and see, is it really clean? But if these numbers are clean, that's huge, having that steady of sales in those numbers when a stock goes public. And look at that earnings line, the angle of ascent on that. That's like picture perfect from yesteryear. I don't know if those numbers are accurate. That's why I'm going to go through and do some research on it. But that has me excited about it.

34:27Not so much the technicals because, again, it traded underneath the IPO price. I do like that it was, you know, flat there and holding and tight there. But really, it's about the fundamentals. So this is a homework play. It's go back to the daily. It's way too extended out from the 1480 to be buying it. And even from the standard pivot, you can see in the top right-hand corner, it's 13 % from its standard pivot. With IPOs, the standard pivot is typically a late pivot. It's like the last chance that you can buy it. You want to look for prior resistance areas like the 1480. So it's well extended.

35:10That's fine. You will then look for an entry point. But, yeah, really worth something to do homework on, that's for sure. Yeah, absolutely. Goldman Sachs. And good job for you getting some. I wish you should have sent me a Slack message. You know what? It's not enough to even move the needle again. This is the problem. Sometimes when you throw something out there, you get busy with every intention of following up on the buy. And if you don't, then you just end up with this tiny position that, yeah, it's not doing anything. Well, you can journal it over to my account if you don't like it. That's fine.

35:46I'll take it. There we go. If only it were that easy. You know, all my stuff is in Roths and I think it's a little bit tougher to journal stuff. I'm not getting a distribution for you, buddy. You can take your 10 percent penalty. Yeah. Goldman Sachs, again, wow, it was really impressive with how strong some of these stocks were. And look at the way that it closed right at the top of its range. So you and I were kind of talking like, I don't know why exactly. So maybe folks in the YouTube comments can add anything that they saw news wise. But, I mean, the whole area was very strong, whether it was, you know, Goldman Sachs, Morgan Stanley.

36:30What stuck out about Goldman Sachs to you? I have a positive bias towards Goldman. Just their thought of, I've always thought of them as the key player there. And it really goes back to the work I did when I invented the IPO base of looking at seeing which stocks had, you know, which underwriter the best stocks had. And it was really Goldman. And then it was Morgan. And then it was kind of everybody else underneath that. And speaking of more, like this one gave you a nice entry because you had a declining tops line that it was breaking, breaking through and then going up through its 50 days. So if we wanted to, if we weren't trying to keep our portfolio ATR low, as well as our percent invested relatively low on Swing Trader, we would have added this as well, because it really looked like it was wants to go higher, wants to go through that 800.

37:27But I think Morgan Stanley, let's go over to that one, actually looks stronger because of the way it held up above its 50-day versus Goldman going through it. So this is your better acting one. And so really you could go with either play. If you had$100 to invest in this space, I'd probably split it 50-50 between the two of these or maybe do some JP Morgan as well. But, you know, I think it's encouraging for the market to, you know, have something like this. Well, and not so much the JP, but between the Morgan and the Goldman, I'd put$51.5 in the Morgan and the balance in Goldman. And you do have a BAC, you know, that that was acting acting fairly well.

38:18WFC, you know, so again, a lot of the banks money center that were that were doing doing fairly well. I'm guessing it had to do with like at least part of the move is probably a relief off the CPI data not being, you know, worse or being slightly better than expected. Right. And, you know, it's also one of the things that's kind of nice about a lot of those financials is the earnings are already behind you. You know, next week is going to be a big earnings week. I'm sure that's something that Alexis and Ed Carson are going to cover on their earnings cheat sheet, you know, that they did this this morning.

38:51And I think that should be out. So, yeah, just keep that in mind. We've got a lot of earnings in addition to Fed meetings. So there are things that could absolutely be real. Was there a Fed meeting? I believe so, right? I was making a joke. I'm like, oh, did I did I look at the calendar wrong? So, yeah, the fact that this does have the earnings behind it is is something that gives you a little bit of extra. But look, there's a lot of earnings yet to come that could derail the markets. And again, I do have a position in Goldman Sachs. Let's go ahead and end our discussion with ABAV. As you mentioned, a lot of the aerospace defense stocks still look very good.

39:34This is one that had such a strong move. I actually originally played KTOS for a portion of this. I'm not too happy with how I played it, but I did have a piece of it. And now I've kind of switched over to AVAV as this got supported. It's a 21-day moving average line. What are you looking at here? I should also mention that this got added to SwingTrader today. Yeah, I was about to buy it in my own account, and it made sense for SwingTrader, so we put it there. And then after our restriction, I bought some of it. So I really like how this has handled itself. It's got a lot going for it. It broke out of that base, did the power from pivot in a big way.

40:22and it looks like 41 % or thereabouts, over 40 % within three weeks, then pulled back and found support right around. It's 21-day, and it looks like the upper half, if you were doing a 50 % retracement, and had that little shake out there a couple days ago and is now back at the high over the last week. And it's underneath the Livermore number. So it has all these things going for it. It doesn't mean it's going to work out, but it also feels like it's a bit disconnected from the rest of the market. You can picture in your mind this working out even if the market rolls because it's just how it's been trading.

41:08So I like looking for things that are less correlated. Everything is ultimately correlated, but less correlated to the Qs and SPI because I'm not 100 % sure that we're out of the woods. So that's this is the type of play I'd want to go with, even if the market was looking poor. And you've got a natural, nice stop, either the low from two days ago, yesterday's low, the 21 day, all areas where you can scale out of it if you're wrong, unless you get caught in a gap down. And, you know, those are never fun. You know, I just did a quick look and from the from the from the follow through day on April 22nd through today, AVAV versus SPI correlation coefficient about 0.84.

41:55So, I mean, look, it's up there. You know, a lot of things are, you know, it really doesn't. I was actually doing this for my column on XBI, and XBI was, you know, 0.85 to spy, and a little bit less for the Qs, 0.845. You know, so again, a lot of things very highly correlated. Even if you looked at XBI, just for fun, XBI and AVAV, 0.89 on the correlation coefficient since the follow-through day. So a lot of high correlations in a lot of things right now. So just something to keep in mind. Mike, are you ready to share? I think so. Hopefully my computer cooperates. Doesn't blow up on us. Otherwise, we'll do some stick figures.

42:50Yes. So it looks like a little like this. Let's see. I'll hold on one second. Just trying to get. You tell me, can you see my spot chart? I can see. Yep. Okay. So this is our Bob Weir take a step back looking at the weekly candles to see if there's something different here. Is it strong? Is it weak? And this is beautiful, frankly. We've got into new high ground. We've got a wide candle with a positive body, meaning the close was significantly higher than the open for the week. You've got a tiny little wick at the top with a bigger one at the bottom. All things that you want to see. And on top of that, this body is sitting on top of last week's body.

43:38So if you were to draw one out, this is exactly what you would have wanted. I didn't expect it. at all. I was expecting it to chop around for weeks, if not months, and that's not what we got. So that looks good. And you just always want to be objective when you look at these things, as if you haven't looked at any other charts, because you're trying to paint this big picture looking at things in all different ways and just be objective. And this looks even as good, if not better, than SPY. Again, the body sitting on top of last week's body went into new high ground. And what I like about this one, he had an even longer bottom wick than the top wick.

44:26And let's take a look at, let's look at RSP for fun. So a little bit, you know, more of what I was expecting. Sitting inside of that range, so this is your average S &P stock. If you're not familiar with the RSP, so equal weight. of Spy. And while it had a positive body on there, you do have a top wick without a bottom wick, not something that you want to see. And it stayed within that range. So we'll see how this one plays out for next week. And then the IWM, again, more of what I was expecting. This is an inside wick. So not totally out of the woods, depending on how you look at those. Let's look at the regression channels.

45:10And this is the original regression on SPY using the May 20 or the May 12th and the July 23rd, I think. I can't even see that. Is it 22nd or 23rd? But 23rd there. And it broke out, broke down from these on October 10th. So we stopped using this regression, but just wanted to point out what it's been doing. And then the same thing with the NASDAQ. Using those same dates fell out of it on October 10th. So this channel or this regression is completely dead. But now let's look at it with an alternative date. This is using the August 1st date and then going out as your first anchor point. and then your second anchor point being 50 days out, which happened to be October 10th.

46:05And this is looking more normal where you came down, we're hanging out at the minus one standard deviation, plus or minus for a while. And now as we moved back up through this, it looks like we're a magnet for the line of best fit, which is your white dash line there, what I call home base. So it looks like it wants to go back home. We'll call it the ET stock. And then here's the NASDAQ, same basic thing. It wants to go up there. But you can see, you would have wanted, frankly, a little bit stronger of a close or even a move up to the white line. Now let's look at IWM. Not ideal because we're using the same dates, August 1st and the 10-10.

46:58but going through your 0.75 standard deviation, you should have really rocketed higher and you wouldn't have wanted to have a negative body on there, meaning that you close lower than you're open. So that's a negative. So you're just kind of looking at each one of these charts and just going, this is good, this is bad, trying to paint a picture in your mind of how much conviction you have. We're going to now go with the 50 % retracement that we talked about last week. These are still using the October 10th high and low. What was good before today is we were starting to live in the northern hemisphere, the top part of this, above 63 and change.

47:38And now we're up in the new high ground. So it wins. We've got a win there. Let's look at the same thing on NASDAQ. Same thing there. We're living in the northern hemisphere and moved above there. The IWM, I was using different dates on here. I was using the 10-10 low and then the high from the 15th. We're in the northern hemisphere, but probably need to spend some more time there. We really obviously want to go into new highs. Let's move on to the next chart. These are the same lines that I had last week. I just wanted to see how they played out. So we made it back through those highs. And then we'll take a look at the NASDAQ.

48:19I made it back through the highs there. And let's see the IWM, not there yet. And again, really the 10.10 low, that's our key low. Even though it's in the yellow, really we should probably put that into red pretty soon now that we've gone into new highs. On the other ones, now this is my, you know, just try to make things look as confusing as possible chart. And this is a bunch of moving averages on there. I use all the FIB numbers, you know, 3, 5, 8, 13, 21, 34, 55, 89, and so on to get a sense, are they, you know, are they stacked properly or not? Because when something rolls, they're going to have to start crossing over each other.

49:07And when you're in a stronger environment, in a trending environment, they should all look like this. So they're starting to come back out where the very short-term moving averages are over the not as short-term and so on. So that's looking good. Same thing with the NASDAQ. And let's look at the IWM. It's chopping around, but it's back in the right order. So we want to stay there. The longer you stay in the right order, the more comfortable you can be. And then let's look at RSP. Same thing there, too. So that's a little, just an extra technique to look at. But the cleanest way, my favorite way, is to just take out all the noise, just put a 21-day exponential on there and see, is your low above it or not?

49:56Have you been, is the low been above it for three or more days or not? And so we don't have that. Our low has been above it for two days. That's a really good thing. We want to see three days and more. And so that's an encouraging sign. Same thing on the NASDAQ, encouraging sign there. Let's take a look at the IWM. This is our first day with our low above it. And you don't want to see that with a pink candle on there, frankly. And then the RSP, that's been holding up there. And it looks like this has been one, two, three, four, fifth day with your low above it. So that's very nice to see. Let me stop sharing with this one, and I'm going to share our other charts.

50:43Just one sec.

50:50Okay, we're going to look at the Webby RSI, which is at the bottom, and that is your little histogram there, kind of the teal color. That is just measuring in terms of ATR, your low versus your 21-day. you know when you're when you're starting back off where you hadn't had one like we didn't have a webby a positive rsi webby rsi here for quite some time once you start getting it you want it you want to see a wall of blue like we saw over here and in fact you really when you're starting back off even more powerful than this being a little bit over two atrs even getting up to three or so is what you'd like to see.

51:35So this is back in the, you know, over one, like let's call it 1.4-ish range. So that is good. Let's take a look at the NASDAQ. Same basic feel there. Let's take a look at the RSP. Less than one ATR there, but still going in the right direction. And you can see that you had little baby ones there. So it's just getting going. And then we will end with IWM on this. And this is our first day out of the gates. And again, we talked about a candle not being great. We're going to go over. So just real quick before we move on, you know, one of the things that, you know, kind of jumps out is just how kind of back and forth.

52:17I mean, there's there's the orange line not consistent. You know, there's these, you know, breaks where it doesn't exist. The histograms, there's these breaks where it's, you know, not not existing. Is that. Is that usual? I mean, is that a sign that that's a sign of choppiness? Right. Right. Because the the orange line that that's your your high versus your your 10 day. And so when you when you start seeing it there, not there, there, not there, it's a sign that you're in choppiness. And I don't know if you've looked at my account over the last three or four weeks, that would tell you it's been choppy because I've been getting chopped up.

52:58I don't know about you, but so it's a reflection of that. And so if you are if you're getting chopped up in your account, but there's a wall of blue there and everything looks normal, then you really have to do some reflecting on your trading and saying, OK, is it me? In this case, it's more a reflection of what the market has been doing is been very, very choppy. Yeah, no, I mean, what I've learned about this market is that apparently buying at highs and selling at lows is not as useful for growing your portfolio. That's my takeaway. That's my takeaway. I've heard. But if you like to buy strength, you know, what are you going to do?

53:39You don't buy at the lows. So, you know, you're trying to buy highs. Unless you get those upside reversals, you know, and even upside reversals. There have been some of those and we've been getting stopped out, you know, on a lot of them. So, again, it is it is what it is. You kind of go through those periods where you try, you try, you try. And then eventually it works. If you stop trying, then that's usually the one that works without you. So, you know, what are you going to do? You keep on trying, but you might reduce your position size. do other elements to recognize that you're not on. So whether that's slowing yourself down or reducing your position size, you can manage your risk that way.

54:24But again, if you stop trying, then when it does turn, you're not there. Yeah, and you can always, when you're getting chopped up, just going lighter and lighter and lighter in the market. And lighter isn't always the percent invested. So like with Swing Trader, we put it up to 50%. But we did it in a very, very timid way. You know, we were going with SPY instead of YouPro. And we were going with IWM instead of TNA. And we were going with, you know, there's different ways of expressing your concern on the market. And when you were saying that buying at the highs and selling at the lows thing, it reminded me of when you remember, what is it, Fred Fern, right?

55:07He was Bill's friend. He was in the office one day. He's like, oh, you guys still buying low, selling high? I'm like, no, we're still trying to buy high and sell higher. You know, so there's different strategies and that's kind of what we try to do. Doesn't always work out. So let's go to the Bob Marley. You know, this is the off high. This is just measuring, you know, how far off your high you are in terms of ATRs. And how I like to use this is the character of whatever the instrument is I'm looking at, whether it's a stock or an ETF and seeing, is it breaking character? And on August 1st, this came down to, let's call it three and a half ATRs, give or take.

55:51So that became your line in the sand that if it materially broke below that, you were getting a character change. this time on the 10th. We came down there just about there to that same level and then turned. So that's what you want to see. And the smaller ones were right in here at around 2.4, 2.5 ATRs off the high. So the minor reactions were there and your bigger reaction was around the three and a half. So you look at each instrument to get a sense of what the character is. And then when that character changes, that's when you want to pay close attention. Let's take a look at it on the NASDAQ.

56:29Same thing with the NASDAQ, stopping in and around the same place. That's what's so powerful about this very simple indicator. Let's take a look at the IWM, which is a little different picture because it's been, you know, coming up from the dead. But this is, you know, tends to stop around, let's call it about three ATRs off its high. And let's look at the RRSP because why not? But this one a little bit more all over the place. This one came down to four ATRs over here and about four ATRs. So you can get a sense for kind of the character of things. Do we have time to look? I know we've gone long, but can we at least show the dates even if we don't have time to look at them?

57:13I've got them. I've got them ready. I'm with you. Can we go through them if I'm quick? Yeah, yeah, yeah. So just why don't you explain what we did? Because, again, we're really using that kind of idea of a big widespread, and we were trading inside that. So we were looking, what you asked me to look for are the times where you've got how many days where the high doesn't cross the high of your day one, that big day. And in this case, we're using October 10th. And how many days do you have where, it's an and statement. So the high is not above the high of the day one and the low is not below the low of day one.

57:59And so if we were looking at kind of these days like October 10th, here's what we came up with. And, you know, I mean, like, remember, April 9th, 2025, this was right after the liberation day. We're going to finish with that. We're going to finish with that. Oh, OK. Don't take away your. That's the punchline. OK. So we'll do this in chrono. We're going to do this in chronological order starting with 1985. But yeah, exactly what you said. Basically, what we're doing is looking at times where you have a big spread and then you stayed within that spread. Your high and low stayed within that spread for many days.

58:37And you were kind enough to run these stats for me today, even though you were as busy as I was and we were both so busy. And I looked at all of them that were five days or longer. and we decided to show the ones anything seven days or higher here because the five days was a little bit more noisy and this was more basically you have this big movement and then you're staying within it and then seeing how these break. So let's go to 1985 and go to June 13, 1985. One of the best years around, the year 5150 came out. So got that going for it. So go to, okay, so we're on June 13th. So that was your big day.

59:26Now let's just go out like a, okay, you're going through it. Good, perfect. Okay. So that's where you get above the high. Yeah. And in fact, just to speed things up, just put a nine in front of that. Let's go out to September and then point back to this day. so here we go there's the area so what we were trying to see is when you hold in there when they break do they tend to have head fakes or do they tend to break in the first direction that they're going and i will tell you when you looked at five or six days there were many head fakes where we poke up and then move down or poke down and then move up but you'll see as we go through this kind of a trend of what we're seeing.

1:00:11So we had a big wide day, then we ended up moving up and staying up. So now let's go out to July 15th of 86. I think that was the date or that's what I jotted down. Okay. So a little bit of a different position than where we are at now, because this is, you know, that day in question was underneath the 50 and all, but still worth looking at. and you're going sideways, very tight in there. And then you break down and just put a 10 in front of that to just kind of see what happens. And if you can point to that day. So that was your day in question. You held in tight, you went lower and you stayed lower.

1:00:51So again, it's going in the direction of your initial move. Let's go out, I think it's 414.87. Yeah.

1:01:04So again, in a different position that we're in, but a widespread. And we'll just kind of go out. It's just hovering in there.

1:01:14And it breaks down. And let's just put a 7 there. And this one was a little bit kind of like those other ones where you had a head fake. That's what I'm scared of. You had a head fake, and then you go in the other direction, and then you have more head fakes. A little bit different because we're underneath the 50. Let's go to the 88 example.

1:01:46Okay. Big spread. Holding in there tightly. And you break down. And then just, yeah, go out a bit. Let's see where I'm going with this. and again it goes in the direction of the initial um move there it broke down and it kept going lower we can jump to 1990

1:02:15and folks at home i mean spend more time on this than what we're doing but at least you know just kind of get an idea and we're always trying to use precedent analysis in in different ways shapes and forms. Okay. So there is your big day again, a completely different position than we're in now because of the, you know, it was underneath the 200 day, but hovering around there and then you go lower. And I think we go lower here, but let's just double check. Yeah. Go a lot lower than where we were. Uh, let's jump to 91, I think was next.

1:02:56Okay, a little closer to what we've got than the other ones. Going along, going along.

1:03:12Okay, it breaks. Edges up. Yeah, and let's go out three or four months.

1:03:21And again, going in the same direction that it initially went. Um, and let's jump to, I think we've got two more. So 2024.

1:03:35I cannot say enough times how nice it is to work with you, Justin, and be able to ask you anything. You're like, oh, I'm doing 15 other things, but I can do that for you too. Um, you know, so thank you. See if I can do it with my left hand while my right hand is writing. You're like a drummer, you know? Okay, so this one was an unusual one. And I'm just trying to see if, so 16468, 16464, it almost got there, but not quite. Yeah, and then it breaks down, but you go out and you'll see how this was a bit problematic. so you go down for a while you know but then you turn and go up so it's it it's hard because you could say if you're putting it in a camp it it broke lower and went lower but ultimately ended up going higher and then we'll finish on the on the punch line now okay uh almost took it away from you but yes you saved me you shot me down so huge spread again in a completely different position, but still that same concept of you've got this really widespread, you're going sideways.

1:04:51And then when you finally ultimately. And I believe this was the longest one at 11 days. You stayed inside that day, which, again, that was what was it? The third percentage wise, as President Trump mentioned at the time, it was the biggest point gain at the, you know, in history. But in terms of percentage gain, I believe was number three, if I'm not mistaken. So, well, so, yeah, breaks higher and we know what happened. We can go to today and you point to it. So, you know, this is just makes things hard because based on this. I want to just, you know, real quickly just mention that one of the things that we're going to look at is, you know, because 1218, this was a day that was really important to you.

1:05:40And why this example didn't come up is because we did we did undercut, you know, a couple of times here. You know, maybe we do something with the clothes staying in the range or a little tolerance. But that's why the 1218 didn't make this, because on the third day, the low was already below the range of 1218. So, exactly. You know, it's I still lean towards the that day and thinking that's what's going to happen going forward. But what Bill taught us to do is to not argue with the market. That's why we did go in with Swing Trader, even though we went in on the light side of things, because you don't want to argue with the market.

1:06:24If you argue with the market, let's go to October of 99. It's just worth, this is the one that always reminds me to never argue with the market. So you're chopping along on here and just ends forward day by day until we get to the important day. So you're going along, you know, 99 was a lot harder than people think it was. Boom. Okay, stop there. So now it goes into new high ground, but you've been chopped up in here because this would have felt a lot like what we had for the last couple of weeks, but for a lot, a longer period of time. And then you're reluctant. You know, if we were doing this show back then, we would be looking at a lot of cases and probably say, oh, well, you know, we don't feel that, you know, we're worried, blah, blah, blah.

1:07:14But then just keep going day by day and show what ends up happening. and so most people would then be saying okay well i missed that day i didn't do take any action um you can just advance one day at a time if you don't mind and folks would be saying i'm going to wait for a pullback i'm going to wait for a pullback and this is what can happen if you don't buy when on that initial thing then each day you're like oh when am i going to buy okay it's going to pull back in it's going to pull back in it's going to pull back in um you know like Imagine the stress building. It's stressing me out right now.

1:07:55Luckily, both of us were in that market. But look what ends up happening. Just go out to March.

1:08:05Yeah. And that's where it ended up topping, ultimately. So you did have a pullback in there in January. And probably at that point, you wouldn't have wanted that pullback because that looked pretty ugly. But then it chopped around. You know, Qualcomm topped right there. So, yeah, that's a big. So just a reminder that when the market moves, have some flexibility with it, even if you're, you know, if you're still concerned, you take little baby steps and you can always back away. So let's go back to our current chart with the homework for folks for this weekend is, again, I would do whatever positions you have.

1:08:44I would, you know, have a game plan for those and email it to yourself of, oh, not just on the downside, but on the on the positive side. Where are you going to pyramid into them? If it goes through a certain level, you're going to add to it. But make sure on the defensive side, because if we get some negative news over the weekend and we gap down to the 21 day or so, you don't want to be, you know, like a deer in the headlights and not know what to do. Because I don't know that we're out of the woods yet, but, you know, we're going to take baby steps and, you know, just take it one day at a time, one week at a time and see how this plays out.

1:09:24But I would be very precise with your buy points. I wouldn't do a shotgunning approach right now. I would be more slow and methodical just because of our recent past of just getting, you know, getting chopped up a lot. Yeah, no, makes sense. And, you know, as you were saying, take it one day at a time. I was thinking of the song from Valerie Bertinelli's, you know, wonderful show. Do you have a song for us? speaking of Valerie Bertinelli her son Wolfgang new album just came out today I listened to it as soon as I woke up it's called The End and when I wasn't in meetings it's been on a loop non-stop and that thing just completely rocks so my song is going to be anything off of there so my favorite song on there is I Really Wanna Don't Listen to That with Kids I'm just going to tell you But I really want to have this market go higher.

1:10:25So that's the song I'm going to go with. And again, the band is called Mammoth. This is its third album, and it's even better than the first two. So you're the one who brought up Valerie, so it's not my fault for going off on this. You know what? I was looking for a song. I was looking for a song. In the YouTube comments, one of the songs that came out was Let the Good Times Roll by The Cars. I don't like The Cars, man. I can't take that. Oh, how could you? Oh, I like cars, man. Next, you're going to tell me The Cure or something like that. Depeche Mode or God. I went to the concert, Depeche Mode, not too long ago.

1:11:00Yeah. Hollywood Bowl. And Tears for Fears, too. Oh, God. That's growing up in the 80s. You know, don't know what to tell you. My sister went to go see them. I'm like, why? Why are you going to see them? Well, that's going to wrap it up for us today. Thank you so much, Webby, for sharing all your knowledge and giving us something to think about and something to do over the weekend because we always are looking for things to do over the weekend, right? Thank you so much to all of our YouTube folks that were watching us live and also watching the archived version. You know, again, this is one of those things where you can watch it a few times and hopefully get some nuggets of wisdom out there.

1:11:37We will see you all next week. We're going to be live on IBD Live starting at 6.20 a.m. Pacific time, 10 minutes before the market open. And we're going to have a great jam-packed session. Mark Minervini is going to be on the podcast next week. So hope you tune in for that. And we'll see you all next week. Take care, everybody, and have a great weekend. Bye-bye now.

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