 Welcome back folks, Dow. Dow right now up 70, Nasdaq is down 63, S&Ps are up about three and a half. Let's go over to Iron Man, Mr. Jason Path as you do every Tuesday and Thursday at quarter past the hour. Jason, what's going on, brother? Tom, I'm getting ready for tonight, man. I mean, you said it well. You know, we have a couple of times a year where maybe the evening and the nighttime after ours markets more exciting than the day. And I think we definitely have that teed up this week at least today. Oh, there's no doubt, man. And what happens here, folks, is that the last couple of weeks of the last quarter, of course, that's when this thing hit. The real question is going to be inside Google, is that what are they going to say going forward? So it's a big number. And Facebook is tomorrow, so wherever Google goes, I think advertising-wise it's going to affect the Facebook stock after hours today. Yeah, absolutely. You certainly expect expectations. What would be really interesting is if they diverged. Clearly, no one really knows, but it's going to be fascinating. Obviously, Google is a proxy for other businesses given their dependence on advertising spend. As best as I can tell, it spends off 20%, 25% as a conservative forecast. But again, to your point, it's that subjective go-forward forecast. What do they expect to see ahead of them? And I think it's so hard as a trader right now. What does the executive say on those calls is everything right now? It's the hardest thing to know, right? It is. Hey, so we got the Fed. You got the ECB. Let's talk about central banks. Yeah, Wild Week, right? And you had Bank of Japan earlier in the week stating they're going to do whatever it took, unlimited purchases in the bond buying program. They're already buying ETFs. You got the ECB Thursday. And I continue to say, and we talked about this last week, Europe's in just such a tough spot. They really have not recovered from the great recession or the debt crisis. They're certainly not doing much here. And their economy has been stagnating. I don't think the ECB does much this week either. I think that's very bearish for the euro. I think it's a political problem that's manifesting itself with economic consequences. There's not much the ECB can do to resolve that. I think long-term, short-term, medium-term. It's going to be really challenging for the euro. My longer-term euro forecast to some might be shocking, but I think we've got a 20% to 30% move over an extended period of time. But as the rest of the world pulls out of this, there's no question in my mind that they're going to be the laggard. They're going to be susceptible to a second wave. And again, they have not got the debt problems, the political problems, anything else out of their debt. And now they're just compounding it. No, it's pretty cool here, man. I remember. So this is, well, I don't remember this, okay? But 20%, that's the last time the euro traded like that. 80 cents was in 2000, man. That's right. That's right. When you look at the dollar, and clearly, the dollar could be coming off its eyes right now, but we'll continue to strengthen. You know, the reserve currency is the euro's weak. And I think the euro is disproportionately weak against the yen. And again, it's a tale of two central banks. You have the DOJ literally saying we'll do whatever it takes earlier this week. Again, you've got geopolitical threats on the horizon, which will benefit the yen like North Korea. No one really knows what's happening with them, but that's not going to be a good story, right? That'll strengthen the yen. Yeah. You know what's amazing, Jason, what's amazing, and I think folks to that, you can really see how strong the United States is. And you also can see, you know, for the mantra that, you know, government's too big. I want smaller government. I want all that. I guarantee you folks, after this is over, if you haven't seen what the government has done and, you know, they've kept us alive. So there's going to be a whole different dynamic here about, you know, throwing eggs at the government on a continual basis, because you can see the differential, kind of what you're talking about, why Europe is basically history, because they're not powerful enough to do it, number one. And they're too, you know, the, so many countries, they're just too separate. That seems it, you know what I'm saying? It's too fragmented. And you've got, you've got Norway with, you know, pretty sound economic picture, but they're dealing with the oil crisis. You've got Italy and Spain in the south of the debt. Germany trying to thread the needle. You know, Merkel has said she's going to be out of office in 12, 18 months. She's going to retire. Who knows what happens there. I just, this thing is going to continue to fragment and splinter. So oil, let's talk oil, man. Hey, it's, it's $12 and 69 cents, man. You know, what's so funny is never before in my life have I had to check the percentages normally, right? We look at these numbers so often. I know it was 12, 70 years. Like I forget, like I hear 13 and I need the context of the percentage because it's all still so foreign and it's moving so much. Right. Either from session to session hour to hour, I need to reset on the percentages of where we've been. You know, again, I mean, just oil is, is, is, I know we're changing topics, but similar story. I mean, it's just under extreme pressure and you get to continue to be very bearish. You know, the ETS and the commodity indexes are already rolling to June to try and take some pressure off a month. But you know, we're going to be falling storage by mid-May. Now, hey, do you still live in Oklahoma? No, I'm from Oklahoma, but I live in the DC area now. Okay. I got it. No, because I know Oklahoma is a monster oil state, right? Oh yeah. Oil and gas. Yeah. Right. The oil wells are all over the place. Absolutely. And, you know, it's interesting you bring up Oklahoma because this week, and this is a little bit of a nuanced oil and gas story, but they've told producers that they can shut in their wells and not break the lease. Typically, if you shut in your well, you break your lease, but you're paying, you know, royalties to the landholder. Okay. That should help us shut in production. I think that's a bullish positive gas story, because producers will be more likely to shut in production. But oil's got, oil's got, the time for oil to get, to get healthy for this market to get healthy is going to be better measured than certainly months of not years at this point. Yeah. It's just going to be a long time. And so now let's flip that and go into the gas market, because what does happen, of course, is that the gas is almost, is it a byproduct of oil? I mean, it almost seems it, right? Yeah. I mean, especially in the horizontal wells, you get what's called associated gas. 10 to 12% of the natural gas produced in this country is while drilling for oil. Okay. Okay. A significant number. And, you know, the oil is typically, you know, led for many companies, you know, the capitalization and the profits and the cash flow from oil have fed some gas production. Gas production is ramped up. You've got LNG and some other places, you know, folks like Chevron have tried to monetize gas, but they've really used the oil profits to lead that. But as those wells get shut in and we're seeing a record rate of rigs come off the field, again, I really think that's net bullish for gas. I think we could be looking at $250 to $3 gas potentially by early to mid-summer if the weather gets constructive as well, because, as you know, gas produces electricity to much of the country. But as the country opens back up, it's been very cool in some places. The weather's been a barbell. We've had it cool up north and they're burning heat. We've been very hot down in Florida and in Texas and folks got the AC on. And folks have switched with the lower gas prices from coal to gas. You know, I've been buying futures in, you know, one 50 to one 60 range, you know, multi-year lows. And I think we could be up by $250, $3 by mid-summer, a very constructive picture on the gas. And the gas has been going down for so long. I mean, I know we can get the zero. We know we can go negative now, but the reality is that with all those oil wells shut down, it's going to make a big difference, man. No doubt. Absolutely. And gas is much less sensitive to the demand problems that we've had because, again, we're still in our homes. We're still heating and cooling. We're still using electricity. No doubt. Not the demand destruction we've seen in oil. Well, listen, man, we appreciate the update now before we're speaking on Thursday. All right, man. We'll talk you on Musk and his pay package with Tesla. Yeah. Oh, good. Oh my God. It's coming up. Stay right there, folks. Coming right back. Dow. Dow is up 84. Nasdaq's down 64. S&Ps are up four. We're coming right back.