Stocks React Positively To Negative News; Apple, Bloom, Heartflow In Focus

29:23Mike Webster:So it's up 30 % in about two weeks. This is the heat, as you mentioned, AI heat, getting above some short-term levels here, Webby. So is this a good sign for the market? How should traders be handling something like this? Yeah, unlike what happened with the DRAM space of the SanDisk and the Microns and all of that, that you would have thought that if this was moving, that that was going to move as well. So I think it's good that at least this is moving, but it is that little disconnect where not all of them are going. And I do have a position in this. I was buying it as it was making it through its 50-day and varying sizes of it because it's so erratic and so wide and loose.

30:09If Bill were here and he looked at this chart, he would just shoot me like four times for even talking about this because it's so all over the place. What do I mean by that? just look at the spreads from the high to the low each week. And if you were to track price and go through there, it would be nice if we added on like what the percent of the spread was. You would just go, oh my gosh, how, you know, it's 20 % back and forth all the time. What does that tell you? No one knows what to pay for this because when you start getting in these things with extreme valuations, nobody knows what it should really be valued at because if you truly just did, you know, just kind of cash flow analysis is probably like 20 bucks or something like that, but everyone's playing, you know, the, the greater fool theory.

30:57That's what we all do. There's nothing wrong with that. I'm in there doing, doing the same thing. That's where you get these crazy valuations that can get even crazier. And that's why we don't concern ourselves with valuations, but we do concern ourselves with where the stock is going. Let's go to the daily chart because i think it's a little easier to even see the the swings in there going from recently 351 down to 157 and it doesn't even look that bad on the chart like it looks bad but it doesn't look that bad for that big of a move down but if you're trading it what you're doing is looking for key areas so making it through the 50 day one of your go-to trades and i like doing that and that tool is firmly in my toolbox as well.

31:43And so when it was going up there and then making it through a round number like the 250, closing at the high is a reason to add more to it. And last couple days were rough, but when you're up there like that, you do expect a pullback. You could have actually had another day down with an upside reversal today, but you got that added strength. If you're trading this heat, if you were to be buying it on a close or buying it right around here i would not let it go underneath yesterday's low that's still a long way down there so you've got it if you're going to trade it you got to have kind of a wide stop on it you either have a super tight stop and you try like five times in one day until one of them works if that's how you're wired and i'm that way a lot of times or you're looking at this going okay i buy it here my expectation is for it to move up to 300 and beyond.

32:34And then so how much am I willing to give back? And you don't want to give back more than yesterday's low. And so just do your position size accordingly. Our good friend and colleague, Chris Gessel, has this little thing that he, this calculator that I know we've got on the web. I think it's on the IBD Live Frequently Asked Question page. Yeah, it just shows, it walks you through like how to do the position sizing with wider stops and all. And you can just do the math on your own, but that's what I would do with this one. That's how I'm trading it.

33:10Mike Webster:Okay. So yeah, so you are trading this one. So levels to watch there. All right. And I think even though this is a wild stock, you not only have the story, but you have the strong fundamentals too, right? I mean, that accelerating top line growth, general acceleration of earnings. So triple digit growth in the last quarter for both the top and bottom line. So this is one of those notable standout stories in the AI space. So even though we aren't seeing all of the AI trade any longer moving in concert together higher, seeing some of these names starting to improve, I think is a really good sign.

33:55Yeah. When you look at the mosaic of the market and look at, you know the old saying of it's it's not a stock market it's a market of stocks and all of that and just looking at it from the bottom up you want to see more things like this even if you're not trading them you might say you know i'm not going to trade anything with an 8 atr i'm going to only trade things with a 2 or a 3 nothing wrong with that if that's how you'd like to trade but you'd still look at these and just look at the overall health and go okay i want to see ones that look like this let's pull up sandisk because it doesn't look like this and when you see this and go, wow, yeah, it's down 3 % on a, you know, it's a 7.6 ATR.

34:34What are you upset about? Well, 3.5 when the market's up 1 % and heat like the BE and those things are going up. It's just, there's more of a divergence there. So that's putting that in the mosaic of it, of just saying of all the AI stocks. And I think our good friend, Don V, I never say his last name because I always butcher it. I think he's got like - Vandenberg? Yes, I cannot say that. I can't say trend change, the other thing either. I have trouble speaking, Allie. And I think he's got like a list of 100 AI stocks in there. And so that's something I need to throw in, market surge to just play through.

35:15I think Justin told me about that because he always watches his videos and stuff.

35:20Mike Webster:And I think he talked about it on our podcast, our Investing with IBD podcast with Justin a couple weeks ago. Okay, cool. I got to check that out. I did watch one with, who did he have on this? Oh, yeah, I think he had Fahmy. Yeah, Fahmy on. I watched that. That was a really good one. Speaking of BE, let's go back to BE. Yeah. Fahmy, and everyone should watch that IBD podcast from this week. Go to the weekly chart. Fahmy was talking to me about BE, I think, when it was down at like 10 bucks or something. He was all over this story and I think he wrote, well, I don't want to talk for him, but I think he wrote that up really, really nicely.

35:58So there are a lot of good folks out there in the IBD world who might not work directly for us, but are, you know, friends of the show who really know things inside and out. So always be watching Justin's podcast for those folks.

36:14Mike Webster:Oh, yeah, no doubt. Okay, let's round things out for this section with a look at high tight flag land just kidding the htfl which is heart flow and one of the reasons why we want to cover this one is you and i talked about this on the show a couple of weeks ago when it had a powerful breakout on earnings so cue the tape of that uh we don't have it but if you want to go watch you can see what we said on that day but we were saying this was a very powerful earnings breakout, something to put on your radar. And then you get a move like today up 10%. While putting that in context, you had more of a run up after that powerful earnings breakout, then an orderly pullback to some key moving averages and then a bounce.

37:03Mike Webster:So today, either an add on opportunity, if you took advantage of that powerful breakout, or if that breakout put this stock on your radar, today could have been an opportunity to get in to the stock. Yeah, and I was getting in to it today, so I do still have a position in this. And this is the type of setup I like. So we noticed it when it went up there. I looked into the story a little bit. Essentially, they use AI to help with analysis of hard stuff in a nutshell. And, And so that's in a couple of right places, right? It's the use of AI, which is something that people don't really talk about much, but that's going to be probably what everyone's talking about two or three years from now when it's not about the NVIDIAs of the world and the SanDisk and the Microns.

37:53It's going to be about the end use, who's actually able to take the AI and make money off of it. So you're always interested from that standpoint. But the reality is this gave you a couple places in the sideways movement to try it where it shook you out. And it shook me out. I tried it a few times in there. We tried it once on Swing Trader when intraday was doing an upside reversal, but it faded by the end of the day. So it's a little squirrely. But what's nice about this is it came in and found support around the 21 day. It would have scared anybody out yesterday that was short term because it closed so horrible.

38:29and you have one, two, three, four, five, six days down in a row, which is a really weak position. But then as it started firming up this morning and it was moving up, just started buying it, not in a big way, it's on the thin side. So it's where it trades thin. It's not super thin as far as the dollar volume, but it trades thinner than you would think. And so you want to just be careful with position sizing on this. But this is how I like to buy them. You don't always get them out the gate when they're breaking out of their first base, you're looking for a follow-on. Let's go to the weekly for an alternative way of looking at this.

39:10So this was kind of a go-to, again, for the way Bill would look at IPOs. He wasn't a fan of the IPO base in most cases because you didn't see a lot of those until Google, at least that he was looking at. But he would like things that have gone public in the last seven years or certainly in a shorter period of time. So he would think of a stock priced out seven years ago. That's an IPO to him. And if it was a shorter period, like two years or three years or just a year, there was an added benefit. And the thought process there that we both talked about is the institutions are having to build their positions.

39:50They might have had some pre-IPO. These days they do. but then they're just having to build it. And when it's working, they're adding to it. So imagine you were in an institution, you have this at the IPO at 19, it's been dead money for you, just going back and forth. You're up, down on the position. Now it finally goes and you've got your 100 ,000 shares or 200 ,000 shares or whatever. Now you've had a profit, you're more likely to keep adding to that. And then the flip side is the shorts are getting squeezed. So on the weekly, you're just looking for a pullback into the 50-day or you're looking for three weeks tight.

40:28This wasn't three weeks tight, but it was in that spirit of three weeks tight in that the weekly ranges were very tight. The closes weren't tight enough to meet our parameters. But I'm looking at this as a three weeks tight with a shakeout to the upside. But it's a squirrely one, so be careful with it. because if something is up 10 % in a day, I always say it can be down 50 % more than that. So 15 % on Monday is what I have to like put in my mind that I bought it, I held it over the weekend, I'm down 15 % on it on Monday. Anything better than that and I won. Anything worse than that, man, I've got to exaggerate my worst case scenario a little bit more.

41:10But I think that's just how you kind of have to look at things when you trade heat. You know, this has got no earnings yet. So this is another stock. He would have shot me for, Mike, why are you talking about a stock that doesn't have earnings? Why?

41:24Mike Webster:Well, we, more recently at IBD, have been looking at IPOs through more of a sales lens. Yes. Sales plus technicals. And not just IPOs. Yeah. There was a major change that happened. Really, it was like Adobe and a few others. early on they switched and they started going to like software as a service and then company PM started getting comfortable with looking at sales growth and in recurring revenue is like the golden thing the way earnings used to be the golden thing so now you've got old schoolers who are still just about the earnings there's nothing wrong with that and then more of the newer folks are looking at the sales aspect of it as being just as important if in some cases not more important than the earnings.

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42:23Mike Webster:support your firm needs, the difference is so obvious. It's Schwabvious. Follow the clues at schwabvious.com. Well said. All right, Webby. Well, let's now turn our attention to your chart so we can put together the mosaic of the market. Okay. Can you see this? Yep. We've got the weekly, spy weekly. Okay, so this is our, the part where we take a step back and we look at a weekly candle and we're going to look at a bunch of charts and then kind of let it paint a picture for us. So what do we notice here with this, this candle? Well, the first thing is it's a negative body. So you close lower than you open for the week.

43:03But the next thing you do is you look at this bottom wick there's hardly any top wick which is a very good thing and a very long bottom wick which is a which is also a very good thing and on top of that it shook out below the lows of all the prior weeks in there the last three weeks so that is a good thing cleaning out people and then closing well off of there but it's a mixed bag because whenever you have a pink uh body your your assumption is sideways or down. So I would say more sideways because if you have that really nice wick in there, that bottom part that where it traced down there. So that's what I would be looking at.

43:45This is sideways for next week. And let's take a look at the NASDAQ. And not as good here from the standpoint of it didn't shake out below the lows of your prior weeks. It just kind of came down right with last week's, give or take, in there and still have that negative body. So through this lens, you're looking at sideways to maybe slightly down. Let's look at the next chart and see what that tells us. So we just look at these in isolation. So now we have, I think, 32 days. So typically I don't do regression analysis or take it seriously until you're at least 35 days or more, but you're getting close to it and then we'll stop it at 50 days.

44:35What do I mean by stop? Let's just kind of blow this up here. We're starting this regression here and right now we're ending it here at 32 days. Once we get out to 50 days, assuming we're still in somewhat of a trend, we will lock those points in. And we're just doing this regression analysis, if you remember, to your stats class. It's just a line of best fit. It's this line, this white line just goes through this data and it slices it exactly right to be in the middle. And then we just put these standard deviations around it to get a sense for things. And so the way I like to look at it is when you come down to the green solid line, it wants to bounce and move back to home base if it's indeed a trend.

45:19And that's what it appears that it's trying to do right now is going back up here. If this was a longer, if we had more time in here, I'd be taking it more seriously. If we had already had 50 days and we were in this position, I would say it's a strong, it should absolutely go to here and beyond up to here in short order because it's this mean reversion trade that tends to happen. So through this lens, you're looking at it going, yeah, you didn't have your 50 days, but that's just random. Mike picked a round number at 50 days. I could have picked 21 days or could pick 100 days or 34 days. But we, you know, so you've got that caveat in there, but it's still, it looks like it's going to go up there.

46:04Now, I just want to show, this is a good example of one that was working for quite some time here, the April 8th, that went out 60 days or 50 days over to here. And when it fell out underneath it, that's when you had to throw it out. Once, you know, three, four, five days where your high is stuck underneath this solid green line, you're saying it's now broken that trend. And look, that's exactly what ended up happening. so let's go to the nasdaq same thing over here started living underneath it over here so you said that trend was gone now we go over our current one and same thing here it's it came down exactly to the one standard deviation bounce through your dash line which is um where you want to kind of gun it and then it moves it looks like it's moving up uh to your um uh line of best fit home base and let's go to the rsp and i think i had some of my standard deviations off on some of those this is the concerning thing and we've talked about this one in the past and this is the thing that bothers me this was such a nice trend rsp the equal weight of spy and this was a beautiful full channel in here and just staying within it came down underneath it a little bit and immediately you can see such a great example of going back to home base the white line that's where it feels comfortable in that trend over here it started living underneath and we were trying to give it time there because it is an art but really by this day on this day here is like okay, the next day we really need to move up.

47:53And instead of moving up, we came down and we also went through the 50 days. So that is dead and gone and problematic really for the market. It just really is what it is.

48:05Mike Webster:Question for you on the regressions, if I may jump in here before we move on to the levels. So I know we've done research on historical power trends and the length that they last. What about regression channels, Webby? That's something that I need to do to get the exact numbers on. I've done a bunch of select ones, the best ones, but really what I want to do is automate this in market search where it automatically draws it for you. And so throughout history, it would make that research a lot easier because right now Now it's very tedious to do. So to do the research the way it should be done on every regression one.

48:51But this was on the medium to longer side of it. And of course, if you were to, instead of 50 days, choose 75 days or something longer, they're going to stay in longer because it's going to be wider. And the shorter you go, the more they're going to break out from it. And I don't know that I'm always going to stick with 50 days. It's just, it was a placeholder. And, you know, I've been using this for a number of years. And at some point I decided to share it with everybody because it was like, okay, I'm still working on this, but I might as well just let the cat out of the bag and let other people use it while I'm still working on it.

49:33So that 50 days is not set in stone. Where you start it isn't set in stone. it could be the bottom day it could be the follow-through day it could be you know like so i go back and forth on that and it just i need more time ali could you give me 26 hours in a day that would be helpful i get two more guess we can move to mars right mars has more

49:57Mike Webster:oh it does more time in a day i think let's occupy mars and there you go yeah just call musk get on get on the first uh flight there you can move there you're in hiding okay He's in an unboxable right now Alright, so now we've got our 50 % retracement That was a good question by the way 50 % retracement From the highs and the lows Here back in June And we're still living above it We poked down below it yesterday It was concerning But now we're still up there Above the Peak there and we want to stay above it Let's look at the NASDAQ We've got the high from June and then the low from July. And we're at least in the Northern hemisphere, but we want to get up above that green line.

50:48Next, we will go over to our lines of importance. And let's just kind of blow that up. I removed a few in here and I was putting some back and I just wanted to try to clean this up a little bit because there's so many important levels. And I kept this one on here that it broke through yesterday because that is one of those important levels that big move up that we had on the fourth, it closed below that yesterday. So that was certainly important. The low of this day here, the third, that's important. And then we have our other lines in the sand along there. And you could put a lot more in there, but these were what I thought were the most important levels.

51:29So we certainly want to get through the high from the third sooner rather than later if this is going to work out. So on here, I think I kept the high from the 28th as one of our goals to get through. And the low from the 24th, again, there's a lot more on here. What I like to do is find a line in the sand that is somewhat close to the 200 day. Because once you go under the 200 day, you're in a whole different world. And so that final line in the sand is the July 29th low. So if you get down there, it's like, you know, go to your bunker, just go on vacation for a long time because it could get really, really ugly.

52:13Next, we will go over to my Webinacci thing. This looks complicated. It's actually extremely simple. It's just this line on the bottom here that just tallies up, gives a plus one for every time a short term moving average is above a longer term moving average. And we've got a bunch of different ones on there. And I just use the FIB numbers, like a three day, a five day, an eight day, and so on. The white line is your current price. And so it's a nice way to objectively just put a number to the trend that you're in. And that number right now is 36. But it's also important to know, is that a 36 down from a 45, because 45 is your peak, or is it a 36 up from 20?

52:55Or in this case, just a little bounce here from yesterday. So you want this to continue and you take it more seriously once it gets through that green line, that 40. And it's just tallying up all of those. Is it perfect? No. But does it give you a general feel for the type of trend in a very nice way? It really does. And eventually we'll put this in market surge. But it's very simple. And you can see in times when you get these major corrections, how quickly that goes down and also quickly it ramps back up. So you could do a lot of work just around these numbers. So where do we stand here? Well, the color kind of tells you everything in this kind of cautionary area because you're down at 36, which is right around the area to be cautious.

53:43Once you get down to 30, and again, these are subject to change, that's when you wanna be more concerned. We bounce right after we undercut that there in late July. So we'll see what ends up happening. Let's go over to the NASDAQ. For the same thing, this one through this lens is much stronger because you didn't come down, you didn't even come down to your 35, either of these pullbacks, and now you're all the way back up to 39. So how does that look to you?

54:15Mike Webster:I mean, I think we are at a level where we could easily see some improvement that would warrant us adding more exposure. but you could also see this. I just think we're at a critical juncture here. Okay, fair. And now what about the RSP? How does that look to you? That looks bad. Yeah. That's the technical term, Allie. It looks bad. So now let's go over to your favorite one. What is this that we're looking at? So we are looking at the 21 EMA only. And I think what is notable here is that has not been a reliable area of support. We've been in a very choppy market. We cannot stay above that level, yet we aren't just falling apart beneath that level either.

55:10Mike Webster:So we've had a lot of head fakes when we do retake that line. So with the sideways action that we are seeing, I think it'll be interesting to see, will we eventually break out or break down below this level? But the chop has not been fun, Webby. No, it hasn't. And what's your take on, and very well said, what's your take on that same thing for the NASDAQ? very similar i think that some traders will be adding exposure when you do get a retake of the 50-day line because eventually it will work right uh eventually so is now the time you can manage your risk uh against that because we're we're right at that level but you have to if you are going to be taking a shot every time we do get that retake you have to be willing to back away as well.

56:00Yeah. And I think the important thing that you said, the most important thing that you said was something about it, just not respecting it. So when the market or a stock does not respect whatever you care about, an RS line, a moving average of whether it's an eight day or a 21 day or a 50 day or a 200 day, when it doesn't respect it and it just travels back and forth, like it doesn't care, then for that time frame, you just can't take it as seriously. So even though I love the 21 day and I've built a lot of things around the 21 day, when the market isn't caring about it, you've just kind of got to care less about it.

56:41But that's just something for any technique or any indicator. There'll be times where the market just doesn't care about it. and then it'll go back if it's a good indicator and the 21 day really is i think it's the best thing out there uh from a simple standpoint but right now the mark is just slicing back and forth through it and it doesn't really uh like it so what i was doing there for a second is i put the 34 on there because sometimes if it doesn't follow the 21 it will follow the 34 and it didn't care about that either. So it's just a choppy mess, frankly. So let me share one other thing.

57:23Okay. All right. So here is the WebE-RSI, which is using that 21-day and using the low of the 21-day, which I think is better than using the close. And it's just measuring the distance in terms of an ATR. And right now we don't have a positive WebE-RSI on there. In fact, recently we had a negative one because when your high goes underneath it, it starts using that and it paints that with this burnt orange color. So that's a negative sign. So you don't want to see a negative or you don't want to see a wall of burnt orange on there like what we were seeing back here in March as your high is stuck underneath that.

58:10Let's look at the RRSP for a second, because then you can see that wall building up, the negative wall, because it is your highest so far. It got to two ATRs away from it. So then you have this natural mean reversion to go closer up to it. But then you want to see, can that trend change or not? We've got a checklist for that. So then we've got the NASDAQ. same thing here just a little bit better um than uh than what we saw with the other one we're going to go to another uh indicator on here this is the bob marley um off high indicator and it's just measuring your low versus your high express in atrs which is this over here on the on the right side and between uh zero and four atrs we've marked that as green and that's where you want to stay.

59:05So that's one way of looking at it, just saying, okay, I'm still in the green. The next thing is saying each level that it pulled down to, is it getting tighter or is it getting looser? And with this pullback that we had, this was still constructive. It was three and a half ATRs off its high. And this last time it was a little bit worse than that. And back here in June, it got to four and a half ATRs. So from that lens, that is constructive, not fun, but constructive. Let's take a look at the NASDAQ. This one, actually really nice in here. There was holding in well relative to this really nasty one that it had down to six.

59:50And let's take a look at our friend, the RSP, not what we'd like to see. So with this one, you could see there was kind of stopping around two and a half-ish ATRs off the high, and then it just fell out of bed here in a big way. And when it did that, it did it really quickly. So really the takeaway is, this RSP is just not looking good, which is my measure of breadth. So it's not like we're trading RSP and it's like, oh, well, just sell it if you don't care about it. That's just saying the average large cap stock is just not doing what you want it to do right now. That can change, but it hasn't changed yet.

1:00:31So we'll keep an open mind to that.

1:00:33Mike Webster:So how do you adjust for that then, Webby? You have to see where the strength is. And so the strength tends to be right now, it's with the mags in general, but most of them aren't in position. I mean, we looked at Apple, But if you look at all of them, they're not all buyable right now, but at least you want to see, okay, if it's not going into the average one, what are the Qs doing? What are SPY doing? What are the other things? Are they going down quicker or not? And if they're not, it's just telling you, okay, well, on a market cap weighted basis, the larger the better right now. and that's what's happening.

1:01:16And it does seem like it's in the mega caps is where the money is kind of hiding. And we've seen that movie before and it can play out for a while. So I'm taking the RSP as a negative thing because we were taking it as a positive thing before and it's just not right to say, okay, well, I'm gonna take it when it's good and ignore it when it's bad. But I'm also putting it in the context of we've had sustained uptrends before when the average stock wasn't participating. I'm talking about in recent years, we've seen that happen. And so my mind is open towards that. And it's also the kind of the market mechanics these days because you've got so much money in big hedge funds and big mutual funds, and they don't like getting trapped in small stocks, illiquid stocks.

1:02:03So it's always safer to hide in a, you know, you pick it, you know, and Apple and Nvidia, Microsoft, and all the big ones that they can get in and out of. And also, there's no risk. If you're a hedge fund manager or a mutual fund manager and you put a bunch of money into that thin little goodie that I mentioned, the heart flow thing, and then that blows up, you're going to have to answer to a lot of people, why were you trading the stock that's thin with no stocks with 5 % of your account? you know but if they go in an nvidia with 10 of their account and it goes down 30 everyone's gonna be like oh nvidia is a good company so you've got that going in there as well and i just label that as kind of market mechanics of of mutual fund managers and hedge fund managers

1:02:55Mike Webster:and then you also have the energy trade right standing out and we know how tricky tricky that It can be, of course, you know, we've been going an hour and haven't even had a chance to talk about the breakout in crude this week. So you have that trade continuing to work, but so news driven, as we know. So that also seems like an area where we are seeing the money flow. But it's, of course, not your traditional growthy area that we like to trade. Yeah. So I'm not opposed to trading oil related stocks at all, but I'm not a huge fan of them when you've got this news environment this way that that can throw you off at any point where you can't see that in the chart.

1:03:46You know, if you were just in a normal environment where supply and demand dynamics of, you know, like, let's say it was back in the day when everything was just fixated on OPEC, not on what tweet was going to be coming out, then you had a better chance of it. But right now, there's no way of predicting that short-term news. And if you're going to be trading that space, which a lot of people have because it's been working, that you just need to have your position size according to, okay, everything gets resolved. And what do you think is going to happen to oil that day and your oil names? And I just wouldn't make it an oversized bet.

1:04:25Like with technology, you can make it an oversized bet unless you're going into, you know, a big earnings announcement or some risk event. But with energy, every day is a big risk event. They just don't always happen. Like it's just you don't know. I mean, we could be getting a tweet right now that is a material tweet or, you know, news item out of Iran and D.C. So it just it makes it harder. Yeah, it does. How about you? Like do you trade it actively?

1:04:55Mike Webster:No, no, because I am really about, to varying degrees, but I want some level of conviction or something that I can understand, right? Because even if I buy something that looks good technically, looks great on paper, right? Fundamentals and technicals, if I don't believe in it, I'm going to get shaken out at the first sign of weakness, even if it's not triggering a major sell rule that I have, just because I'd be a weak holder, weak hands, right? So I have to have that conviction to be able to have that patience, you know, or else it's not doesn't work out for me. I've tried it. And that's what my post analysis shows me.

1:05:36I'm yeah I'm the same way when it comes to commodity related stocks whether it's you know oil or it's gold or what have you but there are times where that you can have really sustained moves and the one that we always kind of go to is like in the 07 time frame like the fertilizer stocks had this big sustained move and they all moved together and for a while there they were just growth stocks and then they went back to their cyclical nature so there's pockets of time where you want to keep your mind open. And there was a window in the last five years where it was like the XLE and related were the place to be.

1:06:13Mike Webster:So 2022, when everything was... Yeah, I think so, right? Yeah, that was good memory. That's your youth is showing that you're sharp and I'm a little fuddy-duddy. I don't have Justin's memory. I feel like he has many market dates tattooed on his mind. so he really does that guy is scary well speaking of birthdays and all how was your how was your did you see the segue how was it how was the birthday party chloe's first birthday party was quite magical she loves yellow so well yeah so whenever i ask her what her favorite color is She says, oh, for yellow. So yellow early on became just this very fun word to say.

1:07:07Mike Webster:Her face would always light up when I would say yellow. So we wanted yellow to be part of the theme in some way, shape, or form. So we kind of landed on our honey's first bee day, B-E-E. So there were little bees in the flower arrangements. and we wore yellow and she was just as cute as can be. Well, we saw pictures that you shared internally and those were the family pictures, her pictures were really, really adorable. Yeah, she's cute. And even for her cake, I got these little beehive molds for the cake. So yeah. Oh, that's awesome. Does she like the song, The Yellow Submarine? I never really dug that, but try it.

1:07:54Mike Webster:No, we haven't played that. any yellow songs, but she is really into music. I think I did share with you and the broader team the other day. Her absolute favorite song right now is Barbara Ann by the Beach Boys. Oh, I love that song. Because she's into a lot of the B words. So book, ball, block. So baba. So we have this echo show in our kitchen. I don't know if you're familiar with that. So it has the TV, calendar, weather, all sorts of stuff. And so you can play Spotify from it. So whenever we're in the kitchen, she looks at it and she goes, Baba. And she's specifically asking for us to play Barbara Ann.

1:08:34Mike Webster:So we listen to a lot of feel good oldies. And yeah, she gets really, really into it. But Barbara Ann is her favorite. That was such a good group. I actually have some of their albums, you know, in over there. And you've got to watch that you and your hubby. It's not for kids. the Beach Boys movie was really really heavy really what was it Love and Happiness I think but really really solid but you gotta be in a mood for I didn't even I didn't even know I know they did a Jersey Boys movie but I didn't know that they did a Beach Boys thing who's the Jersey Boys Jersey Boys that's Frankie Valli oh okay I thought you were talking about something like no no no so Jersey Boys is the name it was the music no so Jersey Boys The Boys was the musical, and then they turned it into a movie, but it was all about Frankie Valli and the Four Seasons.

1:09:32Mike Webster:Oh, got it. Big Girls Don't Cry. Oh, yeah, great stuff. Sherry, Walk Like a Man. Good stuff. Yeah. Oh, I love all that stuff. Which I know off the top of my head, too, because she likes the Beach Boys and Frankie Valli. She likes soprano male voices. Oh, yeah. She likes the high-pitched. would that be like um who the the bg weren't they from the bg's is that what you said the bg's yeah well that's another group that's okay that's but what were you gonna say no i was gonna say does she like the bg's oh okay so there you go yeah okay not quite as much as the beach the beach boys yeah the beach boys much much better yeah and everyone's like aren't you supposed to be talking about stocks no at the end we talk about whatever we want to talk about this is And if it's music related, then yeah, then Mike is really interested.

1:10:29I definitely will enjoy a couple weeks without me because I will be doing some some traveling and stuff. Looking forward to the Founders Club on the 25th and the 26th for anyone who's coming out to Vegas for that. The 25th, that Friday, we have a cocktail reception. The 26th is when we're speaking all day and it's going to be a great event. If you're not a Founders Club member, they are, you know, I think this is the first or second time where they're selling tickets just to the event. If that makes sense for you, check out on our website. They're also doing something where it's tape delayed, as you told me earlier today, where they're taping us and that'll be available for a different price.

1:11:14So if you can make it or watch it afterwards, words those are normally just great stuff i've been working on um follow-throughs without volume and this has nothing to do with my take on dirty volume this would be something that anyone even if i loved volume still i would use and justin has given me a lot of data behind the scenes and i'm just knee deep in that and i think it'll be really good and we'll have a lot of other great speakers there that don't put people to sleep the way I do. So it'll be a fun event if you can make it out to it. This weekend, my Webby rambles on. I did a little thing on my X handle, MWebster1971.

1:11:56I let people pick which one I was going to release. And it's going to be Expectation Breakers. So that drops tomorrow on my YouTube channel, Webby5150. I think it's a good one. And I think it's less than an hour. So I don't know. Some of these shows go for an hour and 11 minutes. That's ridiculously long.

1:12:14Mike Webster:Who would go on for an hour and 12 minutes? Yeah. And so with the Vegas thing, I just wanted to quickly add on to that. This is our most premium exclusive community. So we're opening. Well, they let me in there. So that's not that exclusive. Well, you know, we make a few exceptions. And you're one of them. But very exclusive community. And we are opening that up to, I guess, a select few others who want to join us there in person. I know it's always a good time. I'm going to be there next year. That's my plan. Baby's just a little too young right now for me to make that trip. I would miss her way, way too much.

1:12:59Mike Webster:And you can learn more by going to— And she would miss you. Oh, absolutely. Yeah, that wouldn't have been the— But I will say along the lines, the speaking and, you know, all the presentations are always A plus because everyone brings their A game or their A plus game. And that's always fun. But I think it's more about getting together with everybody because it's all like-minded people. You make connections, make friends and talk about stuff that's not all stock related. And it's just a great group of people. It tends to be the same people year in, year out. Even folks back when we used to do this with a similar thing with Bill in person and in the Santa Monica thing.

1:13:41It's just it's so much fun if it's in your price range. I've never heard anyone, at least they didn't tell me that like, oh, I wish I hadn't come. They just keep coming back and looking forward to the following year. And so it's a great time.

1:13:57Mike Webster:Yeah. So for those who want more information, you can go to investors.com slash FCVegas. All right. And I know you've got at least one concert you're going to. yeah gonna go see sammy um with a couple of guys with madden and don v and and it should be a lot of fun can't can't wait uh for that that's next friday and then the then i'm flying back because i am missing like this is how much i care about this event and i'm not even kidding anybody who knows me eric lapton is doing his crossroads festival here in austin where i live and it's a Saturday, Sunday, and Saturday I'm going to be speaking, so I can't be in two places at once.

1:14:43Flying back first thing in the morning on Sunday and going to that, so I can't wait. Marcus King is going to be playing there. I hope to see John Mayer play there, too. And, of course, the king, the god, Clapton. I mean, come on, man. Like, it doesn't get better than that. And so it should be fun, and I'll be out next week. And so hold down the fort without me.

1:15:04Mike Webster:We will. Don't get sick on the plane. I know that was bad. on wood for you for that. Thank you. All right. Good stuff, Webby. And thanks so much, everyone, for tuning in. That is it from us for this week. And we'll be back on Monday with more, starting with IABD Live in the morning, investors.com slash IABD Live for all the details on our daily morning live stream starting 10 minutes before the opening bell. And then we'll see you Monday after the close, not only for our Stock Market Today video, but also our monthly Market Report with Jim Ropel ahead of a key week for stocks. So that'll be 5 p.m.

1:15:44Mike Webster:Eastern, Monday afternoon, Jim Ropel of the Ropel Report. Don't miss it. We'll see you there. Have a great weekend, everyone.

1:16:07Mike Webster:This show is for informational and educational purposes only, and nothing should be construed as a recommendation to buy, hold, or sell any securities. Any securities and investment strategies discussed may not be suitable for all investors. Make sure to consider consulting with your financial advisor before making investment decisions.