Nasdaq Backs Off Highs, But Focus On This; Palo Alto, SolarEdge, Sterling In Focus

24:00Let's go back to the daily and kind of answer your question more directly. You scale. My advice is you scale out. I'm not saying I always do that. But when I'm looking at something historically, I'm trying to say, what should I do? What you should do and what you end up doing are always the same thing. because the heat of the battle emotions and all that stuff fear greed and hope but with this one on that downside reversal two days or three days before the top i'd be selling some not a ton but i'd be selling some it feels like it's getting into a climax the next day is the inside day not selling any the following day because of where it closed i would be selling a bunch there because my expectation would be lower, which isn't really what you end up seeing in a climax run.

24:48In a climax run, you kind of keep going up. But I would still have a lot of shares there, and I would have to sell them that next day, so that one day off the top there, but still holding in there because you're still a mile away from your 21 day, and then gradually getting out. Probably, I would hope that 75 % of my position would have been blown out by that point. But you never know. And this didn't come back for quite some time. But that is kind of your key level. Let's go out a couple weeks from there. Or let's go back to the, yeah, let's just go out a couple weeks from there.

25:30Mike Webster:Okay.

25:34So on here, the key to get out of this would have been two days after that upside reversal because it was trying to bounce up there. And at that point, that looks abnormal to you. That's not the way a climax, a rebound from a climax action would happen. That's what a climax top looks like, meaning that it had already topped and you better get out of every last thing because, you know, things could collapse. Yes, it would be nice to say I'd sell the whole thing at 100 and I've studied this to death. So I haven't memorized, but I don't want to be a silly hindsight BS or, you know, you got to look at it with reality.

26:16And every time I look at this, I see something a little bit different in there of how you'd want to treat it. One caveat, when you go through a climax top using the quick quicksand grateful dead signals will get you out a mile too late. So you want to do a lot of your selling. So that's It's the one, every indicator kind of has its thing that you do differently at times. When you're into a climax, you do want to use the price action of the climax and what is doing. What is a climax? It's running at a stock that's already running at a certain pace. Then it starts growing faster than that. And it goes into this kind of euphoria phase where everyone's excited about it.

26:57The stock is never going to go down. Everyone's got to own it and they've got to never sell a share. that's the type of mentality that was going on with Qualcomm there. And that'll happen with all the ones that we're trading right now too. When their day is done, everyone will be saying the same thing. But you can look through here and say, where would you want to sell it? Now, if you're going to say that you would have sold the whole thing on the top day, do yourself a favor, go back and see where those exact same rules, write those rules down. Why are you saying that other than hindsight? then go back along that way.

27:32And I guarantee you, you would have blown, unless you're totally data fitting, you would have blown it out 15 other times along the way. So it's very, climax tops are a lot harder than you think.

27:42Mike Webster:Yes, definitely. And I think the other element here is looking at the broad market action, right? It's like, we're not trading stuff in a vacuum. We also are looking at what the major indexes are doing. So with that, I'll go back to the NASDAQ here. So that's the other trick here. It can either emphasize your reason for selling or you can see a little bit of the discrepancies, right? Yeah, so there was a negative divergence that ended up happening. Once, you know, pull up Qualcomm again. And in relationship to what the market did, the market hit new highs and Qualcomm was a mile below it. And so that's telling you that's base building at best or it's done.

28:32What Bill would say is when a stock climaxes and truly climaxes, you don't want to touch that for six to nine months. And then typically, if you want to touch it, you want to touch it on the short side. So that was telling you, hey, that stock had its day, man, 2 ,200%. That's enough. You know, what more do you want? than the market was doing this, these gyrations in here. And go to January 13th on there.

29:00Mike Webster:Okay. You can just point to it on your, with your. Okay, sure. Yeah, we'll go to January 13th. There you go. That was the first day I got money from Build to Run. He actually gave it to me, you know, a few weeks before that, but it took accounting a little bit of time to get the thing set up. So it's, man, dude, I only had a couple months before the top. That was not cool, but it was still fun. Anyways, let's go to the different dates. Okay, so we wanted to go to, okay, so we're in February here. Well, while you've got this up, I can talk about the different things on here. So with the NASDAQ, the two days off the top where it hit the 4192, two days off of that, you were getting nice support at your 21 day.

29:54So I would have been gunning it there with my line in the sand of the low of that day. Then when it breached it, I would say, wait, this market is not acting right because that was too weak. And then you got to back away from it. You want a little bit more evidence. and then you get that next upside reversal. You've got to buy some there, but honestly, I wouldn't be gunning it. Even knowing it gaps up the next day, I wouldn't be gunning it as hard because that was weak action the day before. You've got to be intellectually honest with yourself. And look, the reality is, yes, you gapped up, but then you had that gap fill in there.

30:31So this was tricky. And when you get near the top, and that's something we've got to remember for whenever our ultimate top is, you do get a lot of gyrations where they're hurting the shorts and they're hurting the longs just week after week, and it makes it very difficult near the end. So the other time it broke through the 21-day, closer to the right side of your chart, the first day it touched it, it wasn't getting support, so you wouldn't have wanted to buy it there. The next day it sliced through it, so you wouldn't want to do anything there. Then you get support off your 50-day, but this is a little odd because it's your first test of your 50-day here.

31:13So you do want to push it, but because that's pretty convincing there, because now you have this line in the sand that's your 50-day and the low there. But, you know, this was a very unusual market. Most markets wouldn't be strong enough to recover from that. And we can go out to the next date.

31:31Mike Webster:Sorry, I totally threw us off with that Qualcomm discussion. We're back on track now so now we're going to go to 3 10 of 2000 okay so this one stalling near your tops and again kind of climactic type of action so you're expecting some weakness uh the next day and let's yeah we're going to fast forward two weeks yep and this is what is key right and this is what am i seeing here ali because i know you're seeing it well you're seeing a pickup in the trading ranges and you're seeing some stalling at a previous high. Exactly. The fact that you that that last part that you said you couldn't get up to a fresh high that that is your your key on there that there is something is different.

32:23Now, at best case, it would have just formed a double bottom and come down, undercut the forty five hundred and then turn back up. But when you look at that, when you're stalling and you can't get up to fresh highs, you want to be backing away. I know we keep going to all these historical examples every week and everyone's like, why don't you just talk about the current market? Trust me, this is what you need to know. This is your roadmap for what we're dealing with. Now, this is your first break of your 50 day. You better be getting out of Dodge. And I'll just tell you in real time, I was sharing an office with my buddy, Ross Haber, and we were both selling on that top day, selling almost everything we had, not because of what the indexes were doing and Bill didn't reach out to us and say anything to us.

33:12We were just recognizing the individual sell signals and there were 10 PMs on the team and almost all of us were pretty much getting out there because of what individual stocks were doing. So sometimes you're doing it because of what the market's doing. Sometimes your individual stocks give you warning signs. Now, the sad truth is from 2000, 2002, there were a ton of follow through days that didn't end up working that we that we got chopped up. And but we did get out pretty much of everything at the top, which was very interesting since Bill never told us. And he told us like a couple of months later that we all did it because we wouldn't talk much.

33:52You know, we're competing against each other. We weren't like saying, oh, hey, I'm selling this, you know. But Ross and I knew what we were doing because we were like in an office the size of a shoebox. Yeah.

34:04Mike Webster:Well, great color there, Webby. And I think that that's something that you and the team really try to emphasize is that the day-by-day action in the index is so very important to guide us and our buy and sell decisions, portfolio management, exposure and all of that. But it's also the leading stocks, right? How are they acting? You get such huge clues from that as well. So top down and bottom up, both very important. Well said. Okay, let's next take a look at, do you have anything else to say about software? I mean, I feel like we covered it earlier with the Tullio and the IDB. I think we're good.

34:48Mike Webster:So CIBR was just, oh, and I'm on historical, so that's not going to work. Just to show that, hey, security software in particular is also making a comeback. So this one I'm trading and we were trading on Swing Trader as well. It looks much better than the IGV. So most people are looking, saying, well, what is Webby doing with the IGV? Has he lost his freaking mind? I get it. I get what you're saying. But there are times where you take a tool out of the toolbox that you haven't used for a while. like, I don't know, a left-handed monkey wrench or something like that. So with this, you've got some lines in the sand.

35:26Today's low and then yesterday's low. There's also HACC, which is a similar ETF. And they both look good to me and a lot of overlap in there. So most people probably gravitate towards these versus the IGV that has the CRMs and other, you know, kind of dogs in there. I'm Steve Booth, CEO of Baird, an independent wealth, asset management, and global capital markets firm. At Baird, our 5 ,000-plus employees are united by an unwavering commitment to excellence and a genuine passion for helping our clients and each other succeed. As a privately held, truly employee-owned company, we treasure our independence since we can focus on delivering results to clients and taking care of our people throughout the cycles in our serve markets.

36:12Learn more at rwbear.com slash wsj.

36:16Mike Webster:And actually, I'll just say that this was intentional because it's a really great segue to Palo Alto, which we wanted to cover. So coming back on in a big way, this week's gain for the stock, Webby, almost 17%. I'm going to change the scaling here. but a big comeback and that relative strength line also getting back above its moving averages in recent weeks. So this is a notable development on the chart here for Palo Alto. Yeah. So we don't have to go there, but it kind of reminds me in a little way of Qualcomm back in 98 before it had its move, where it had base after base after base that just weren't working out.

37:06And that happens all the time when, you know, a stock, as you can see, the earnings continue to come through here, which we see with the earnings line. But this area has been out of favor. Now, I am in a, you know, I'm not sure, and I don't think anyone is, is this just kind of a temporary thing where some money is flowing back into software and it's all going to exit, you know, abruptly, as we've seen with other like AI announcements and stuff that tend to end up hitting some of these companies? Or is this a healthy rotation? I'm leaning towards it's a healthy rotation, but I'll take it one day at a time.

37:43And I will not be shocked if this doesn't end up working out. But let's go to the daily and see how to enter this one because it's extended at this point. So you can see, what is it? 9 % extended from this cup without handle. And really your entry point that you would have wanted was at the day that is gapping up through your 200 day. But even given this chart at that time, I wouldn't have wanted to buy it because there was so much better merchandise. You know, yes, it ended up ripping straight up from there. But be honest with yourself. Would you have wanted to buy it there? I wouldn't have. Or if I bought it, I would have wanted to buy just a token amount.

38:26Now it comes up and takes out the highs, the 223 highs and it's three days past there, hopefully this can pause and give us something, an upside reversal or something to trade against. So this is the type of merchandise that I would put in your watch list and just you're waiting for an entry point on here. And we'll see if it gives us one. If not, what I'd like to do is I see this space and go, okay, I'm going to buy some of the CIBR or the hack and then wait for this to be give me an entry, sell that off and then buy the individual stock. The same thing with the IGV. That's in a perfect world, but sometimes they just keep running without you and at least having the ETF, you know, ends up helping out.

39:15Mike Webster:Yeah, you don't have that single stock risk. Okay, let's go to SolarEdge. Also showing a character change this week. A powerful move. Friday up 23%. This week's gain 50%. Webby, that's a big move. Yeah. So I bought this way out of position late today. So I'll probably just get stopped out of it on Monday. But I was trading it, also trading it through TAN and ICLN because this whole group is starting to move. So again, it feels like a rotation type of play. with that said this group tends to have as many head fakes as like the thc cbd group does where it looks like they're gonna go and then they don't go and it looks like it's gonna go and doesn't go it kind of reminds me of like the 3d printers from a decade ago or so where they looked really good and that they didn't go so what would be normal and natural for the for this on Monday.

40:11Hopefully, a follow on from here. Realistically, enough of a down day coming into probably 53, 54 in there, just enough to shake me out, you know, or anyone else who bought it late, that's fine. You know, then you get stopped out and you buy it back. But in a perfect world, this gives us something kind of like the Twilio that we talked about, something to trade against in a week or two. And that's why we wanted to bring this up. So yeah. And I think we did talk about that the week that this one gapped up and we said we were watching it either here or on IBD Live or both. And yeah, and this is, it finally gives you an entry.

40:52Now it's a higher point, a higher price than where you could have just bought it earlier, but risk reward, it's better to just wait at this point.

41:01Mike Webster:Okay. Well, something else that had power and is now pausing constructively is sterling infrastructure, S-T-R-L. Okay, so this one, yeah, I did sell my position in it. So I had, no, I guess I did keep a token. No, no, no, I didn't. Those were my notes of what we're going to talk about. So I bought this yesterday. This is in the vein of a high-tight flag. No, it's not a high-tight flag as Bill O 'Neill put in his book. A high-tight flag that he would have put in his book, the flagpole, the run up four to eight weeks and 100 % advance. So we don't have the four to eight week type of move. And then the sideways, typically, you know, three weeks, give or take in there.

41:43So we don't have enough time on either side, but it's still that concept of you were a less than$500 stock. Now you're more than$800 stock and you're not giving up much ground. I I think if the market hadn't sold off today, this one was going to rip through 900 on its way to 1000. It's a very thin trader, so you got to be careful with that. But this is the type of merchandise that I'm looking for. High tide flags in spirit. What is a high tide flag in spirit? That's where you've got to rapid advance up without giving back a lot along the way. let's pull up um crdo because uh i know a lot of people that were calling this one a high tide flag because it went from 100 to 200 no not a high tide flag that's the that run up there was from the bottom of a base so that is the right side of a very deep cup with handle that is a different pattern than a high tide flag a high tide flag comes out of like the one that we were just looking at, you know, if this one were to run from here or, or this one that I keep looking at

42:55Mike Webster:every day. I'm back in this in a big way. We'll see how this plays out over my vacation. I've got all my stops and I've got like 10 different levels of stops, but let's might as well go here. So this, I'm looking at a high tide flag and spirit and even better than the last one that we were looking at. Really lots of power from that$20 range up to over$100. You're coming in here digesting those gains. I've tried it a few times. I've tried it three times in here over the last couple of days and just been stopped out of it. Today in a week tape being up like this, I was buying it early in the day and I just kept on pressing my luck with this because if this doesn't work out, it could easily be a$60.

43:39On some negative news, I could get my head handed to a A$60 print on here is not out of the question or lower if it's because something can't if it goes from 20 to 100, it can go from 100 to 20 or to 10. So I don't want to see people getting hurt with something like this, certainly not doing with size. But this is the type this is a 1999 playbook type of stock that if you're going to trade an upside reversal, this is where you do it. And we'll see. Is it a Bill O 'Neill high tide flag? No. Why? Because you didn't go sideways long enough. You'd want, you know, another couple of weeks in here. Who knows?

44:19Maybe we'll get it. We'll see how it goes.

44:22Mike Webster:Okay. I think it's time for Webby's charts. Sure. Let's do that. Let's see. I'll try to be fast, but you know me. Okay. So let's, can you see my Bob Weir take a step back? Got it. So this is the part of the show where we do the mosaic that she was talking about. We take each thing and we just look at it in isolation and just say, okay, what is this telling me and what information is it giving me that would be normal and natural the next week? Well, obviously, with a candle like this, your expectation, it's a stalling candle. Why do I say that? Because your top wick is longer than your bottom wick.

45:02Your body is tiny, not really making any material progress from last week's. action. And this is what just running out of gas looks like. It doesn't look like the world is coming to an end, but this is when the opposite would be a week like this or a week like this, where it looks like it still has a lot of momentum. And that momentum was kind of slowing down here. Last week, it picked up. Now it's just running out of gas. So your expectation is lower or sideways. Same thing here with the NASDAQ. Top wick is a little bit longer than the bottom, but it's got a long bottom wick as well. So not a whole lot to say there other than sideways or down.

45:44Now we're going to go on to our regression lines. This is not long enough to put on here, but I did want to start putting them on. Yesterday on the Swing Trader show with Justin, I was starting it over here at the bottom. But really, in a situation like this, I like starting it off at the follow-through day. So that's starting it on the 4-8. And we're not even to, and then we'll continue doing this until it's 50 days out. And then we'll lock that anchor in.

46:15Mike Webster:Are you sure not 51 and a half days? I think I'm going to do that. I'm going to do that, Allie. We have to. So thank you for that. I got to make that change. So with this, your expectation is that it's not going to continue like this, because if it was to continue and we were to draw these lines out, you know, you'd be a gazillion percent in the next year. So it's an unsustainable trend, but those can last longer than you think. But where are lines where we'd want to kind of reload? And that would be down here around the green dash line or the solid dash line. And that's right in line with your your 21 day.

46:54So I think that that might be in the cards. Hopefully sideways would be better and it allows those to catch up. But you can't tell the market what to do, nor can you tell the news flow what to do. Same thing with the NASDAQ here. And again, coming in, this one, if we were to come into that low from earlier this week over there, that would kind of put you in line with both of those green lines. So we'll keep an eye on those each week. And let's see what we have here. Now, our 50 % retracement. We talk about this all the time. You can start them at all different places. For today, I'm starting it with the day before the follow-through day and then the high here.

47:37And we just want to stay in the northern hemisphere up here to remain healthy. Same thing with the NASDAQ. Now, of course, we could do it over shorter periods of time. We could do it from here. In fact, let's just do that just for the fun of it. let's just put it from right there to that high. So using the high from 427 to here, you want to stay above that 25 ,803 area to be in the Northern Hemisphere. And you can slice this a million different ways. Now we're going to go over to our levels. So I've raised our bottom level up from down here up to here. That's our final line in the sand. sand uh but really giving if we were to roll and give all this back we wouldn't still be in the market probably this 702 would probably be our true last line in the sand if it happened you know really quickly but you also want to you always want to have lines in the sand just so you know if they start breaking them you can say oh well that was an important level for me before when my mind was clear.

48:48So it's always good to draw these beforehand, not while the battle is going on. Same thing here. So the lows from this week and then your next real key level really isn't to the low of 430. Let's go on to my Webinacci one on here. And so this is the white line on there. That's our current price. So that's not a factor in here right now. It's all the other moving averages. So the moving averages are all stacked on top of each other. The shortest one is a three that we've got a three, a five, and eight, and a 13, and 21, and so on down to a 233. All this line here on the bottom is very simple. This is just one of my indicators where it just adds up short-term moving averages that are over longer term moving averages.

49:38It caps out at 45 where it's at right now, bottoms out at zero. So right now, everything is still stacked properly, but you can see things are starting to roll over. So we'll see how bad this ends up getting. But this is just another way to kind of objectively look at this. And if you want more details on that, just go to my YouTube channel, Webby 5150, and I've got more on that. And so same thing here on the NASDAQ, we're just pinned at the 45. Once you got down to 40 or 35, that's when you would be more concerned. Then let's go on to your favorite one, Allie. What do we got here?

50:18Mike Webster:We've got the 21 day only, the keep it simple chart, and we're still looking good. I would still like to see a pullback to that level. And I would view that as a buying opportunity, depending on how it happens. There you go. I agree with that. Let's get over to our next round of charts hold on a second uh where did those go hold on i'm so bad at this ally no you're great you're doing great this brings me more stress and being really over my keys with some of my positions i thought it really does okay so here is the web rsi along with the power trend so the power there he goes okay now it looks good you see it The power trend is in green on here.

51:07So this is a modified power trend, just using the low versus the 21 day for 10 days and the 21 being above the 50 for five days. And it turns it off when the 21 crosses through the 50. Again, I've got an episode on this if you want more details. The reason why I want to show those is we've got a couple things going for us. The Webby RSI here has been very strong. A wall of blue early on. That is really a good sign that this thing is going to have a lot of legs. Look at this one over here, how weak that was. And you didn't have that wall of blue. It's like a little baby wall. Like you could step over this.

51:48This, you know, you need a ladder to get over. That's quite a bit different. And you just look back in time and just if you focus your eyes on the green area, you can see they don't last forever. So you want to, you know, really take advantage when they do happen. And then sometimes you've got these long ones in here. This is one in 2020. That was a long, you know, a long time. You never know how long they're going to last. But so what we do is we look for clues with the WebRSI in there and some other things that... that I discussed in that video that we just don't have time for today. But in a nutshell, it's basically once that power trend turns on, seeing some progress.

52:30And that's what we had here. So the power trend turns on here and you had some initial progress. That's a sign of a very positive sign for it being something real. Now, could this have ended yesterday and it's all over? Sure. Would that be normal or natural? No, because the power that we've had here doesn't just roll over and collapse normally. So we'll see how this one plays out. We'll go over to the topic of this week's Webby Rambles On, and this is the Webby Bob Marley off-high indicator. And that's what we have here on the bottom. And what that is doing is just measuring your low versus your 18-month high.

53:16and measured in terms of ATRs, which is this over here. The green area is zero to four ATRs. Yellow area is four to eight. And beyond that, we're in kind of the danger zone. So how do we use this? Right now, what we're doing is saying, okay, this is getting a little bit abnormally weak compared to what we've had recently. Because if you just blow this up, on here, we were kind of stopping right around like 1.2 or so ATRs. Now we're getting over to 1.5. You know, that's like being really picky about it, but it's just telling you it's, this is the weakest that we've had during this run so far. And so, you know, expect some further weakness and probably, you know, if it gets beyond three ATRs, which is this yellow line on here, then I'll get a bit more concerned.

54:10But right now, just expecting it to pull back in. And then the same thing with the NASDAQ on here. Now, the NASDAQ a little bit better because if you blow this up, we're holding up just a little bit better than what we had over here. So if you looked at both of them, this one's a little bit better. But let's look at the IWM. I haven't looked at that one yet. So this one you can see was starting to, you know, find support here at like one and a half ATRs. And I got weaker here. Then I got weaker. Now it's getting weaker. So that's just telling you where to kind of stay away from.

54:47Mike Webster:And that's it, Allie. Can you quickly comment, Webby, on the Fed rate expectations? So we normally don't talk about the Fed here, but some people might not know. I had one of my obsessions was Powell, and I used to watch all of his press conferences, and I'd watch him like 10 times, like looking for clues. It was fun. I still just use whatever the candles did, but it's an interesting thing. And back when I was running the fund out here, the family office, it was, you know, I spent a lot of my time on it and writing stuff to the group about it because the Fed is very important. It's just not something that Bill would talk about often or do we talk about it a lot.

55:34Why am I bringing this up? This is actually a good thing. So when a company reports, they try to under-promise and over-deliver, meaning they'll say that their earnings are going to be a buck when they really think it's going to be a buck 15. So if it comes in at a buck 20, then the stock jumps. So the same thing kind of here with what's going on with the Fed. And actually, can you zoom down to the bottom because the bottom is the most important part of this? So if you've never looked at this, this is what the Fed funds futures, what people are really putting their money at of where they think the Fed is going to be at different times.

56:14So where we're at there, the 350 to 375, that's where we are right now if no things change. So we're saying 49.9 % chance that we're still there in December. but a 38.9 % chance of increasing, but just increasing a little bit, but it's going in the direction that folks don't want. And you brought up the bond market at the beginning of the show to kind of show what ended up happening today. But look at the important thing is, look at a month ago. A month ago, there was only a 1 % chance, but a 27 % chance of a cut. The market likes cuts because that helps the economy, helps growth stocks and yada, yada.

57:00So why do I say this is such a good thing? This is something that could add fuel to the fire of this bull market if it turns back around to just where it was last month. I think this is very important, and I'm not seeing people talking about it because they're looking and going, oh, no, yields are going up and the Fed might have to increase. But I'm looking at this as one more positive tailwind to get behind that could help us out. Now, obviously, with the Fed changing and everything, I think most people assume that nothing is going to happen for an extended period of time. That's probably the best for everyone to get their footing.

57:39And, you know, the Fed doesn't change very often. And so it's going to be under new leadership, new management. You know, so you want to it's kind of just like going to a restaurant. If there's new management, you maybe want to give it a little bit of time before you go eat there. Same thing here. They probably don't want to do much. I need Ed to help me out with my analogies that one was weak you can't even say it was I know my dad will tell me later you gotta stop with those analogies he doesn't talk like that well thank you you're being nice so this is just one more thing that could help us out now it could get worse but if it gets worse what does that mean you know inflation has really gotten you know crazy and that's what would drive this you know So time will tell.

58:25We'll see. But I just look at this as another potential positive thing to help out.

58:32Mike Webster:Really great insight there, Webby. And also, I would say there was a time when you would see the 10 years spiking like it did today, and it would be terrible for the market. so the fact that we closed the way that we did today you know not at the dead lows not just an absolute let's go back to that tnx chart that you had brought up at the beginning which is something i never focus on but i think the point that you're making you know people should look at that like that was a major move in the bond market i i don't use it as part of my analysis but what you're saying it's like that's a big big breakout from there but we've had those before that end up kind of falling um but you know if this is for real and that breakout is for real you know the market's going to have to adjust but like you're saying that it was able to remember 2022 everyone

59:33Mike Webster:yeah so i think that's an interesting nuance there but we'll see we'll see we're hoping for a base breakout failure. Yeah, exactly. That's exactly what we want. But no, I love that, thinking about the expectations. It's just kind of, you know, the chess game with that and how that's interpreted. So we'll keep an eye on it. So I'm going to be gone next week. I'm taking a break, a much-needed break. And so I want to know, I don't want Justin to ask you, because I want to ask you what's going on with your daughter. So what's going on with your daughter? And you've got to skip next week He's allowed to ask, but you'll have to film him.

1:00:13Mike Webster:Well, I'll make it quick. It's so interesting that you asked because it really is amazing how in the first year there's like something new every week. It's kind of crazy. So right now she's learning to wave and clap. She's trying to get she's trying. She waved at my mom the other day, like for real. And it was adorable. and she's starting to eat things. She's, so we're, we're trying. What is she eating? She's definitely not a vegan. I'm sorry to let you know. All right. She's eating. So that's fine. She had like a chunk of ribeye last night. So the purees, she was like gagging on the purees. So I'm going to give you a chunk of ribeye.

1:01:01Mike Webster:And she loved it. So, you know, I'm just following her cues. There you go. That's wonderful. Now, you need to make sure you take lots of videos of her waving at first and try to get her to do the peace sign. That would be cool. Oh, there we go. We'll try that. But yeah, and the clapping. And it's, yeah, it's been a lot of fun. So I hope you have a great week off. Well deserved. Thank you. Enjoy. All right. And we'll see you back here a week after next. We'll miss you. We'll miss you. But again, for folks who watch this and were like, wow, Mike goes through those mosaic charts really quickly. I'm building out on the Webby 5150 an episode for each thing that you and I talk about.

1:01:48So people who take this seriously, which I know there's a large amount that they can go and then have in detail. and the added benefit is if you have trouble sleeping just put it on it works wonders for you just don't don't listen while you drive or that could be very bad yeah exactly driving then you're okay no a ton of golden information on that channel and you even have fans now that are

1:02:16Mike Webster:doing like twitter threads breaking down your webby rampals on so i love it we love to see it Oh, one last thing, Allie, and I know you can't make it out because you're on the East Coast, but on June 28th in Hermosa Beach, and I normally, you know, out here in Austin, I just give like a week notice. But I wanted to give a lot of notice for folks because I want people from work going. Justin's going to go. Scott's going to go. Scott's and Claire. I think Dave's going to go. You know, I think Rachel's going to go. So there's many people from work are going to go. We do this. It's a West Coast Webby Walk, our first one, Promosa Beach at the pier on June 28th at 8 a.m.

1:03:02I know it's early, but I'm actually traveling that day. And that was the only day that Scott and Dave could go because I'm driving out to Vegas later that day. So that's why it's a little bit early in the morning. It's free. Everyone just comes. We do a little bit of a walk. I think Mike Ash, who, if you haven't watched that episode, who was a quadriplegic and is now walking, he's going to go in. He's not going to be able to walk the whole thing, but he's going to show up there or try to. So I really hope for a big turnout. If you want more details on it, there really aren't, but you can find it on MWebster1971 on Twitter in case you forgot the date.

1:03:45So I'm looking forward to that. Yeah.

1:03:47Mike Webster:And I think Lexi is going to try to go too. Oh, cool. Yeah. Awesome. I wish I could be there, but I'll be there in spirit. You'll be there in spirit. I will. I will. I definitely have FOMO. It's going to be fun. Yeah. But next year, maybe. Next year. Next year. Yeah. All right. Well, thanks. Well, you know what? I'll be there, Allie. If you ever make it out to LA or the next time you're out in LA, we'll coordinate. We'll coordinate. We'll try to figure it. Yeah. We will. We will. Because, yeah, we've got to both go at the same time. Or we could do it on the East Coast. Yeah. I'll have to do one of those.

1:04:25Mike Webster:You never know. You never know. We can make that happen, too. All right. Well, thanks again, Webby, and enjoy your week off. Thanks, everyone, for tuning in. That's it from us for this week. We hope you have a great weekend. We'll see you Monday morning on IABD Live, investors.com slash IABD Live for all the details. And then we'll also see you right back here on Monday after the close. Thank you.

1:05:17Market moves and macro signals in 10 minutes or less. The Markets Podcast from Goldman Sachs. Listen now.