Indexes Jump After Powell Speech; Toll Brothers, Royal Caribbean, Nextracker In Focus

27:38Savvy investors understand consistent growth is built on scale, resilience, and trust. For more than 60 years, Medline has proven this, driven by an unrelenting commitment to their customers. Today, Medline is proudly NASDAQ listed and is the largest provider 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 health care and learn more at Medline.com. OK, let's take a look at some stocks. We talked a little bit about the home builders, Toll Brothers, just going a step back to the weekly here, carving out the right hand side of a cup.

28:19You know, certainly you can already say, well, gosh, this was a deep cup, 49 percent depth, just a little bit deeper. And we wouldn't have even had patent recognition label it. But looking at the daily chart, we have seen this move back above the 200-day moving average line recently for a lot of the home builders. We just got earnings out of the way. Wasn't a spectacular reaction to the earnings report, but you also had a lot of market components, market influences there that weren't helping any, but certainly a strong day today. What's your take? Yeah. So I think really with this space, how I'm playing it is through NAIL, ITB, which is the triple ITB and XHB, because when this group moves, they tend to move together and you can have some extended moves in there.

29:08So I don't want to necessarily pick the winner. We're going over toll as one example, but you can pull up Pulte, you can pull up DHI, you can pull up NVR, and they all have the same basic look. And so unless you can really hone in or MHO, they all look good. That if you're in there and one of them happens to have something very specific news item, like something related to accounting or CFO leaves or they buy somebody, which tends to happen, then when a company buys someone, typically their price goes down and other stock goes up. So if you're playing a theme, which I'm doing with this, you know, I just say go with the ETF.

29:54It's going to have a little watered down results, but you can always nibble in and just say, OK, well, I'm going to you can look at the holdings of each one and say, OK, I'm going to I'm going to juice it up a little bit by buying a little toll as well or a little NVR or a little something like that. And and just find your favorite ones, but lean heavier on ETFs. That's what I like to do. It's not a strategy for everyone, but I think the risk reward makes a ton of sense. And it's up 5%, and it's nowhere even near its old high. Closer to 6%, I mean, 5.8%. Yeah, 6%. Yeah, you're right. So it was, what was the year that these all had the big move?

30:32I think it was during the 2000-2002 bear, if I'm not mistaken. You know, I'm going to zoom out a little bit. Yeah. Yes, you did have in 2001, what was it, in April of 2001? I feel like, you know, NVR had a great double bottom, if I'm not mistaken. And again, it was one of those very high price stocks. So I'm going to go back in time to 2002 to just show this. I mean, yeah, it had this double bottom right here. And really, you know, again, everything was horrible. You can see the index going down, but NVR was, you know, rocking. Why don't you pull up the NASDAQ at the same time for newer folks who don't remember that or maybe weren't trading back then?

31:19That's what the market was doing. So, I mean, major divergence. So sometimes, like, that's why I was thinking about that. I don't think this is going to happen. But that's why I was saying, even if NVIDIA has a bad report, does it really translate into what Toll or Pulte or NVR or, you know, fill in the blank are going to do? Probably not so much. So this is very, very, very encouraging. And let's go ahead and take a look at RCL. We actually were mentioning we went through all the cruise ships. And I think I do have a position in Toll as well. And I have a position in RCL. Okay, RCL up over 6 % today.

32:00This is one that we were looking at as it was clearing this area. Really strong move here, tightened up and really blasting out of there. It was tough, though, because, again, you had this overhang of Jackson Hole. You had what was going on with the market. It really, you know, for a few days there, it felt like it did need to come in a little bit harder. But, again, we got that support above where we thought it would come into at the 50-day moving average line. I'm just going to show a couple others before I have you do the analysis on RCL. CCL, a really strong day. This was up almost 7%. Viking, this one was up about 3.6%, so not as strong.

32:40And then NCLH, maybe not as extended in terms of its highs, but a very powerful day, over 7%. So what when you're looking at so many strong stocks in the same group, I mean, you you already kind of showed your hand. You bought a number of them instead of just choosing one. But how do you kind of pick the pick the leader? Well, that then kind of leans on some fundamental work, too. So we like to cruise and I have a very positive bias towards Royal. but it hasn't been acting as nicely lately with that gap down and that reaction to earnings. I did buy this as it was going through the 21 day, a few days back, but then I backed out of it because I was backing out of everything at the time just because I thought the marker was going to come into the 50 day, but then had to buy it back today or maybe even yesterday.

33:35I'm not sure with this. No, I think this one was today because of the move. Now, it just wasn't in a perfect position for us to put it on swing trader. But CCL, you know, was a little bit closer, but we were, you know, we were trying to lean heavier on the ETFs today. When a move comes the way it did today, I've found that it's your initial thing should really be kind of getting the exposure level to the right place. That's like priority number one. And so the easiest way to do that on a risk reward basis is just getting the ETFs. If there was a perfect ETF for the cruise lines, we would have gone with that.

34:17But since there wasn't, again, you don't want that individual risk because look how this reacted versus, and go back to RCL, how that reacted on that one earnings thing. And the lag or the NCLH was moving up. So that's why if you can ever lean on an ETF, it's better, but they, yeah, It's just, you know, that was relatively holding up. And then you had the Viking, which was the last one to report. And that's a little different because it's a not a direct competitor necessarily. Yeah, because they did the rivers versus the oceans primarily. But this one looks good and is not as far out of there.

34:57So I was buying that today and I might add to it, you know, next week. And I'm trying to find these non-AI type of plays because that's where it seems like the money is moving. Let's pull up UTES for a second, which tends to be, you know, that's the utility play that's AI related for the most part. And the fact that was only a 0.34 kind of tells you that's not the place to play. We were playing GEV. I know I'm a little all over the place today, but I think some of these are important. And we backed out of that just because it wasn't having that strong reaction. And sometimes when these stall out on a big up day, it's a clue that, man, it's just not ready yet.

35:42Could this base build come, could come into the 50 day? So you're trying to find the space where the money is moving, not where it had been. And, you know, hope that helps. Yeah, go where the puck is going, not where it was. Let's go ahead and round this part of our discussion out with NXT. Next tracker, it's worth mentioning, we did talk on IBD Live this morning about TAN, Invesco Solar ETF. I do have a position in TAN. We put that on Swing Trader as well, so I had to buy it after the 30-minute restriction period. So this was looking strong, up over 5.7%. percent. But NXT has kind of been, I mean, this one's been above its 200-day moving average line, 40-week moving average line.

36:30It's looked a little bit different, a little bit stronger being at highs as opposed to tan that has, you know, quite a ways to go before it gets back to its old highs. So what's your take on NextTracker? Yeah, and I did just check. I don't have a position in toll directly. It was just through the ETFs. But I do have a position in NextTracker. I had tan in my own account, but when we added it to Swing Trader, I had to sell it and it just didn't get a chance to buy it back, but I'll be buying it back. This one looks like the best in that space, super volatile. So it's not one that most folks need to play.

37:06In fact, a tan is probably the better way of doing it. But what I like about this, let's go out to the weekly for a second and let's turn off best fit if that's on because I might lose my mind. Uh-oh. Uh-oh, what happened there? Yeah, no worries. So it's a really nice base on base. So you had that prior base, and then this one was just sitting up a little bit on top of that. And before that, you had that power from pivot flag, the 35%. So it's got a lot of signs that you see at the beginning, the early stages of something that can have a model book type move. but and it's even reminiscent that base is reminiscent of one of the netflix bases from i don't remember what year maybe you remember the 2011 or 10 or something like that which one netflix do you remember yeah 2010 september 1st follow-through day on 2010 um it had a good along with chipotle uh yeah that was chipotle was the most beautiful base i've ever seen frankly that that particular one but anyways this um folks should go back and study that Netflix where you come up straight from that bottom.

38:14Let's go there now. Come on. Ali's not here to tell us. I know. Right. Exactly. To keep things under control. We'll still be here Sunday. Right. I'll go to 2012. You're still talking. But yeah. So here was the double bottom that I was thinking of, you know, where it broke out around September 1st. And then this nice move before the well-studied pricing model change that led to this downdraft in 2011. And you can even go back to the 09 base as well, where you had a lot of work, you know, over there on the left side of it. No, no, no. The one that you were doing. Oh, okay. Yeah, that one, where you get this power on the right side, and then you have this big launch, and both of them kind of fall into this mold.

39:02So now let's go back to the next tracker with this in mind.

39:10and they both start with the N, so it's got that going for it. So you see this base there, how it's coming up straight from the bottom there, that power straight from the bottom, which lots of times, depending on how it comes up the right side, sometimes it can be problematic. Sometimes it's power. I see this is power. Let's go down to the quarterly numbers on it. If you scroll down, this was a little bit problematic. They're just squeaking by. It's not like anything to really write home about, you know, the deceleration from the triple digit numbers, but still OK. So I wouldn't say the fundamentals are great, especially with estimates being so weak.

39:47And I need to brush up on what news was really moving this this group. But it's just nice to see like another group that is moving and it and looks looks very interesting. But if you were playing this one, I would just do it with a small position. I've just got a tiny position in it. Makes sense. Mike, I'm going to go ahead and stop my share and give you a chance to start sharing your charts. And again, for those that are maybe new to the Stock Market Day video on Fridays, we do kind of a little bit of a different take to get that big picture look with regression lines, Webby RSI and some simplified charts, too, to just really kind of narrow in on what is happening right now.

40:30So take it away, Webby. Sure. So this is a weekly candle of SPY. And we always do this on Fridays. We just like to do the Bob Weir. Take a step back and kind of look at this rather than on the daily basis. Look at it from a weekly and see if it tells us anything different. This is a beautiful candle, like absolutely beautiful. Let's just walk through that. You have this long wick at the bottom. So it traded all the way down there and then came back up and closed up above where it opened for the week, shaking out below last week's lows and closing above where we closed last week. This is ideal.

41:15There's not a lot of bars that are better than this one. And so that is really nice setup for going into next week. Now let's do the same thing on the NASDAQ. So not as strong, frankly, because we've got a pink candle in here showing that you couldn't make it back up to where we opened for the week. So it kind of goes along with what we were seeing, you know, before. And it kind of tells me, maybe I'll reduce some of my Q position and lean even more into the Spies or the IWMs or other things. Because this is a nice candle in that the wick is really long at the bottom, but pink candles are never good.

41:59It's just, since it's just such a small one, it's better than most, but it's still, you just got to be objective. Not a great candle. I suppose if you're going to have a pink one, the best way to have a pink is with that hammer at the top, right? Yeah, exactly. That's about as good as your pink can get. I think you're absolutely right. But look, I had it over here and then just went sideways. It's better than having one of these pink candles that then go a lot lower. But we'll go over to the regression because this is really what it's all about right now besides that 1980 precedent and why I was pushing on the gas so hard.

42:38So we are doing that. I just want to interrupt you real quick, because one of the things you did say on the show, not only have you been kind of projecting what your plan was, if this happens, then I'm doing this. But you also said, like, as much as you are leaning on that 1980 precedent, the fact is the regression, you know, even if you didn't have that, the regression was telling you a lot of what to do today. So, yeah, please, please walk us through that. Thank you for that. So, in fact, I'll start with the NASDAQ one. because this kind of paints the picture, even though the weekly bar wasn't as strong, this kind of is classic.

43:16I mean, this is really textbook as far as for the way I look at regression. So the way I do the regression, just a line of best fit, and it's starting off here on this gap up because it started a new trend. So that was on May 12th. And just as a reminder, because before you did have this on the follow-through day, so April 22nd, why did you move it? Yeah, we've discussed that on recent, maybe several weeks back or maybe even a month back of when I made that shift. Because normally what happens is the regression analysis on a normal shallow pullback, I'll do it from the absolute low. So I would have started it down here on April 7th.

43:57But this was a major, it was a bear market in a crash. So then my work had said to go to your follow-through day because that is your inflection point. But then when we did the follow-through day, which was on April 22nd here, it just didn't really make sense with how the data was laid out. And so I was looking for an inflection point. And this is a clear inflection point on May 12th. And so we're not changing it now to fit what we want. We changed this maybe a month or so ago when I was saying, you know what, this just really doesn't make sense putting it over there. In fact, you know, I'll just take this line and put it over there.

44:42You could see, you know, if I were to do this for both of these, that that just doesn't make sense. That's not where your trend was. It's just data fitting by design because you are, you know, when you change the dates, you're fitting your data. So it made much more sense to say when you get a breakout of a pattern or a clear new trend, a new character change, that that's where you want to start it. And then you want to end it. You have an anchor point that is, you know, at a set amount ahead of time. And so you could pick 34 days. You can pick 45 days. You can pick 49 days. You can pick 51 and a half days if you want, but I've gone with 50 days, 50 trading days out.

45:31So whenever I'm studying this, they're all the same. And you can't really do 21 days because it's not enough data in there. You need enough, but not too much. And again, if I were to take this end date and go all the way out over here to now, well, that doesn't make any sense because now you're just totally data fitting. So you're trying, the goal is you're trying, and these are on July 23rd is where the end point is. The 50 days, right. Yeah, the 50 days, because you don't want to continue it out because then you are data fitting and it just defeats the whole purpose. So how do you use this? Well, and I also just one more thing on that.

46:12I just want to kind of add that, you know, especially when you have kind of a V-shaped recovery, you have to be very careful doing that, you know, at the follow through day because that's kind of an unsustainable trend, right? You know, if you if you go 50, you know, it's just going to be an unsustainable trend. So kind of moving it to where you get some of the snapback, it's almost like, OK, there's so much noise at the bottom. You kind of are cutting some of that off and starting it a more logical place. So, yeah, I just want to make sure people kind of understand the rules behind that, because it is, again, something you really thought through so that it wasn't, again, based on your based on your whims.

46:55Exactly. And that's the key. Whenever you're doing research, you don't want to just be willy nilly about it and go, oh, well, I, I like 33 days on this one. And I like 29 on this one and 52 on the other one. You want to have a set thing so you can actually back test it and, um, and trust your, your stuff and not, you know, do it. If you're bearish, use bearish numbers and bullish, use those. And so again, since I backed out from this and unzoomed, you can kind of see that pattern a little clearer there that this was truly the inflection point. So thanks for all adding all that. That was a lot of good color.

47:33So now going into this, blowing this up, when you come into the solid green line, that's one standard deviation below your regression line. That's telling you, okay, be very careful because if you fall down below this, let's say we came down here and then our high was stuck underneath this regression line, then you need to get really concerned because now that trend is changing and you don't know how bad it's going to get. And lots of times, you know, if we would have been down in here for a few days, we would have said throwing that out and getting very defensive. But what your expectation is, or at least your hope at that point, you don't act on the hope, but what your hope is, is that it does exactly what it did, where it comes back through your green dash line, which is minus 0.75 deviations, standard deviations away from your, what I call home base or your line of best fit where it wants to go back up to.

48:29And once it, when it goes through that, you, that's where you really gun it because now you have a clear expectation that it should move higher and back to that, the white line. And typically when they go back to it, they overshoot it just like it did over here in June where it passed it, got all the way up to once you start getting up to the red dash line, that's when you have to start saying, you know what, unless the trend is going to accelerate to the upside, you're kind of playing with fire and you need to back away. It's not a put on the gas. It is a take your foot off or not put on the brake.

49:08It's take your foot off the gas and kind of coast a little bit and lock some in. So right now, using this strategy is to gun it until we get back above here with your stop really, you know, at the low of today, like we were talking about. Let's go over to SPY and the same basic concept there. We were able to go through this dashed line and we were positioning ourselves on SwingTrader, kind of anticipating this. And we're, you know, we had gone to cash, you know, a couple of days ago and then started getting back in because we were seeing signs that, you know what? It was tracing out like the 1980, and we had this major risk event today, but we still took that shot and went from being in cash to on margin right now.

50:01So that's for active traders only, obviously. So let's go over to the 50 % retracement, and let's start off with SPY. And this is just showing your recent action in here. And what we do here is we take highs and lows and then use our line in between your midpoint, your 50 % retracement to see, are you trading in the northern hemisphere, which is where you want to be, or are you trading underneath that midpoint, which is where you don't want to? So we're trading above that nicely. And then let's do the same thing on the NASDAQ. Not as nice there. We made it back above it, the 21 ,354 and change, but not as strong as the other one.

50:46So frankly, the more I look at this, the more I'm wanting to reduce my Q-related positions and increase my other ones. But we will have to see how Monday plays out. But IWM. It's nice that they're 24 hour trading now, right? That is true. That is. Yeah. A reminder to myself after the show. So now with with this one, we had our high and our low in what was bothering me a bit a couple of days ago, even though it was getting support at the 21 day. it was really tricky because now we were in the southern hemisphere over here and that's not where you want to be when you're looking at this so the 226 31 was your midpoint but then we just gapped through that today and then blew through our highs so this again based on the information we have and i haven't done it on mdy let's just do that on mdy um but those are some old ones but you can just see visually that it is um

51:47that it's well above that. And it pretty much traced out the same thing. So those are your mid caps. We'll go over to the levels. Pretty much the same as how we had them last week. We'll start off with SPY. The one thing I did is I moved this line here to the low from earlier this week. So the 632.95, I mean, that is a serious line in the sand that if you come back through that, I should have really made that red because that would, for the near term, be really problematic. And maybe a yellow at today's low. Yes. Right? Yeah. I was, as you know, we were both very pressed for time today. Right.

52:29God, man. It's a crazy day. And I'm sick as a dog. What can you do? So with this one, same thing. And yes, I would move that yellow up there. And I'm just going to do this right now and move that up there. So the yellow is at today's low and the red is right there at a couple of days ago. What is that? Wednesday's low. Now we will do Ali's favorite chart. And this is just the the 21 day on here and nothing else. And you can see we've made it back above that, which is always something you'd like to see. And the same thing with the Nasdaq, but the low is not above it, which we are going to see in a second here.

53:08I'm going to stop sharing this and I'm going to share my Webby RSI. And just as a reminder for folks, the RSI in this case stands for real simple indicator, not your typical RSI that you might get on your CMT exam. Exactly. Because, you know, I like coming up with my own goofy names. I thought it was funny. Still do. So here, this little histogram down here, this is just measuring your distance, your low is versus your 21 day. And we are now don't have a or we have this tiny little one on here, but we really want this over the coming days and weeks to really gun it. And at this point, at a recovery off of the line, if this went all the way up, you know, even to a 2.5 ATRs, which is how this is measured, that would that would be ideal.

54:03You just don't like seeing spikes after it's been moving for a long period of time. But being at an inflection point, having that would be ideal. Let's look over. You know, just real quickly, because I know a lot of times you can you can expect to have that RSI get a little bit higher at the beginning of a move. But what about when you have kind of a halftime show, let's say? do you expect that same kind of spike in your histogram briefly or is it more you know it should be in a calmer way a little bit yeah calmer than the the original but since we were at an inflection point meaning this big jackson hole thing that everyone was waiting for you have to kind of take the context of it is you know this was if he would have said something that the market didn't like, or he reiterates things over the weekend and says, oh, what you interpreted wrong.

55:02Then we're, you know, the bottom falls out. Backpedals. Yeah. You thought that was dovish? Yeah. We're really, they do that at times, frankly. They'll send out their surrogates and to calm the markets down. So expect that next week if they didn't like the message that the market took. That is really standard operating procedure for them. So that's a very good point. Justin, when you're first coming up from after a bear, you really want to see a lot of power. And we didn't really get that over here. It wasn't as powerful as you would have thought. And normally you'd get, you know, a bit higher.

55:37But because we're at an inflection point, I would expect it to be hot in the near. You would want it to be hot over the short term. We will see. Even if it just gets up into the 1.5 or so, that will still be healthy. But really, I would prefer it to be a two or so. And SPY tends to be a little bit on the slower part. Let's just look at the Qs for this one. So this one still doesn't have a WebE RSI because our low isn't above it yet. But you can see that one got a bit higher there at the beginning of things. And this is where historically, when you have these spikes up here, you're near the end.

56:21And that was in June of 24. And you can see it doesn't like mark the high, but within a couple of weeks, then you ran into some trouble. So it's just a way that I've designed to kind of get a sense for how the market is trending. And it helps my eyes to just focus down there versus just up at the chart. Let's look at the IWM and see what that's looking like. So this has been terrible for a long period of time. Like it just, you know, it spikes up and it falls down and spikes up and falls down. So now what we want is it to be sustained. The spikes are on the orange side. I know. Yeah. So the orange side, the burnt orange is your high underneath the 21 day.

57:03And so that's more on your extreme being, I don't like to use this word. Pessimistic? Say again? Pessimistic? Pessimistic. There you go. I'll say that instead of oversold. So let's look at our final one, the RSP on here, just the equal weight of things. And again, we're playing this on Swing Trader. And what's nice about it is it has a very low ATR. So you have relatively low risk compared to anything else because it's equally weighted. Whereas with SPY, you have more risk in there, also more reward typically because of the market cap weighting aspect of it. And we will wrap this up with my daughter's favorite part of the show.

57:45And this is the Bob Marley indicator. and this is just showing in green when you're within four ATRs of your high, yellow four to eight, and you don't want to see things below that. And so you're just, first thing you're doing is saying, where are you? So you're in the green zone. That's good. Then the next thing you're doing. And even at our worst, we were still in the green zone. Exactly. Yeah. You were down about three and a half ATRs or so. So that becomes a key point because this level should hold then when eventually when we roll down, whether it's next week or two months from now or whenever, it tends to kind of find support at the same number of ATRs off their high.

58:28It's not to the penny, but it's the feel of it. And when that breaks, that's when you want to just notice and then take extra action. So if it were to break below that, regardless of what the chart was telling us, which would be telling us to reduce or sell, that using this indicator would also tell us that. And let's look at the cues on here. Again, a bit weaker. It got worse off its high than it did before, which is another sign that we're seeing that it's on the weak side. And then let's look at the IWM. And still in yellow. Man, it's got a long, long way to go to get healthy. A short time to get there.

59:16And let's look at the RSP has been in the green there. So I think that is a nice overview. Right, exactly. So I want to thank everyone for the comments on YouTube. I also want to make sure that our producer today, Rachel, gets to see some of those comments. because a lot of nice comments about Rachel's hosting this week and everything like that. So Rachel was a superstar this week. And so was a little person I call, used to call the saint. Now I call him either grandpa saint or saint grandpa. Saint grandpa. Saint grandpa, okay. Saint grandpa, we're going to go with that. So let's end, Mike, with a little bit of a discussion on, okay, you kind of showed us our levels.

1:00:01You kind of showed us our regression line. So for next week, if we heat up too quickly, you know, what do you do? And again, we've already kind of talked about on the downside, today's low, certainly the low of the upside reversal as places where you need to back away. And that's true of your individual stocks, too. I mean, we were putting on a lot of things that had upside reversal. So you automatically have a low to work from there. And I mean, for a lot of us, we're moving those stops up. So we don't want to give away all of our gains that we've gotten over the last, just today, really. So what levels would you be concerned about in terms of getting too hot too fast, extended?

1:00:43Because we know about the downside, how to protect ourselves. What about the extended side? Or do you just kind of let it rip? I would expect that, frankly, because when you're in an inflection point like this, that would be normal and natural to be very powerful. Now, what bothers me is the 1981, that didn't last long. It didn't last long. So that's bothering me. You can't just take a precedent for the parts that you like. You've got to take the whole thing, you know, the good and the bad, and then you have the facts of life. So it is, you know. You've got to get them right. Yeah. So we will, I'm expecting a lot of power next week because you're going to have a lot of people, in my opinion, that kind of missed today's trade.

1:01:27And that's totally legitimate. It was a big risk event. We could have been down as much or even more. Like if he would have said something bad, man, we would have been down three, four percent. Like, really? And then on the way to really a bear market like that, that could have transpired. So with that, a lot of people. And frankly, that's why we've been talking this whole week about having one one eye on the exits the whole week. Like, OK, we got to know exactly where our exit strategy is, because, you know, most likely we were looking at if it had gone the other way. Probably everything would have been getting taken out to the woodshed at the same.

1:02:00Oh, big time. Big time. So now we kind of have that off the table. We have this risk thing behind us. We've got most of the earnings. We just have an NVIDIA around the corner. And what I would do is screen for stocks that did well this week, but also today, most importantly today, high closing range, meaning closing range, 75 % or higher, and definitely outperformed the RSP. And if it didn't do that, then it's a laggard by definition. And I had some stuff that was in that camp and I just backed away from it. Like the GEV that we backed away from on Swing Trader. And then also don't forget to take some gains.

1:02:42Like if you took some risk coming into it and we did the same thing on Swing Trader, there were some things that were really high octane that we stuck our neck out and did some positions on. And we booked most of those because if this is for real, you don't have to really have that individual risk. So what we're going to be doing is over the next week is using the ETFs that we built up today and yesterday and start peeling those back and buying individual stocks. And there's a system that I just called source of funds where using those to get you up to the exposure level that you want. And then you can be calm about it.

1:03:24So because what happens on a day like today is like you've got this FOMO and then you see your favorite stock and it's up 10 percent or 15 percent or something. You're like, oh, I've been wanting that one. And then you buy it or something that you just got rid of. Right. Oh, yeah. That's probably what it would be. And then, you know, because like I got rid of everything, you know, I was in cash, you know, a couple of days ago and then, you know, short and short and and reversed all of that because it made sense. And so you don't want to have that FOMO with individual stocks that are super risky.

1:03:59And you don't want to be buying something that was a laggard today. You know, I had some stocks that I had that I really thought were going to work out that I had big positions in, and they were doing nothing today. So I had to back out of those and make those tiny positions and put money where it's working. So if you're an active trader, man, this is the time to do a lot of work over the weekend. And if you're a position trader, it's the time to do a ton of work over the weekend because we're kind of at inflection points. So swing trading, something you buy on Monday, you might be out of it by Friday.

1:04:34But position trading, this is a time if we can get some things on swing trader that we can turn into position trades, we're going to, you know, be looking for those because this could be that time, but the space would be more in the non-traditional, like the non, you know, I'm just not dying to buy a bunch of AI stuff right now. I'm not negative on AI, but every, you know, things need to take rest at times, but we'll see. We stay flexible. You know, you got to be like Gumby and be flexible. But I think that's it. I forgot to think of a song for this week. We're, you know, you know, Oh, I forgot.

1:05:11I forgot to remind you. Yeah. So we'll have two next week. How about that? How about we just go with the gambler? Yeah, because you can never go wrong with the gambler. No wind of them. No wind of them. And don't count your money while you're sitting at the table, man. There'll be time enough for counting when the dealing is done. Okay. Thank you so much, Webby. Really appreciate your thoughts. And thank you, everyone, for joining us. And look, there's a lot in flux. So make sure you join us every day after the close for our Stock Market Day video. and we'll fill you in on our thinking as it changes day by day.

1:05:43And also don't forget to join us on IBD Live. We had Leif Sereda on the show today from Champion Team Investing. Great discussion with him. So yeah, if you haven't joined already with a trial, go to www.investors.com slash IBD Live. That's it for us this weekend. I mean, this day, everyone have a great weekend. Take care now.

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