 It's a presentation of TFNN. The Tom O'Brien Show is produced every business day. Tom takes your phone calls toll-free at 1-877-927-6648. Internationally at 727-873-7618. Let's go to Alan Homosassi. Hey Al, what's going on? Isn't it wonderful? This gentleman here with the gold report right before the market fell apart ended up with TAAF. We had a 98% gain in the year. And I mean, we weren't 99% proof like Irish whiskey, but we had a good gain there. You always told us to do what we feel comfortable with. And if I lose a little bit of money on the table, I will. But I know that I just pocketed $8,000 or $9,000 in two weeks. That's a beautiful thing, man. Now, Tom O'Brien. Welcome folks, this is Jacob Shoup filling in for Tom O'Brien today. He will be back tomorrow. Let's take a look at everything. We are up modestly today. Yes, trading about 0.64%. Russell Futures trading at about 0.69%. NQ about 0.76. YM trading at 0.68% as well. The gold contracts staying pretty solid here at 1984. We had that big run up last week and earlier this month it was pretty fantastic from gold. Silver at 2310. Copper Futures at 0.363. This metal has been having a hard time recently. And we'll talk just a little bit about that. I do think on the long term, we'll see some movement in it. But as it stands now currently, I think in the short term and really in the next few years, it's still going to be kind of a struggling metal here. We have the LightSweed Crude Futures trading at about 0.8364 down about 2.16% today. Everything that's going on in Gaza and Israel is putting people kind of on edge with that. Then of course, we have the Brand Crude that can load up trading about down 2% today. Let's take a look here at Tesla. We'll talk a little bit about them. They had a big sell off last week from 2.65 all the way down to just above 200 and we're trading at 2.15 right now. Steel Dynamics reaching that kind of support zone at 1.01 81, we have the dollar at 1.0627. That's staying pretty constant in that 1.06 area as well. Hoping for a breakdown below the 1.05 to 1.04 but we're not getting that. So on the long term, that's something to keep in mind if you're in the market in general, especially with gold as well. QQQ trading at 3.58 Google at 1.39 Meta at 3.12. So Meta is actually being sued by a few US states. Let me see if I can pull up this story real quick. Essentially, some of the US states are accusing Meta of basically designing an algorithm that is very addictive in nature is designed to. They're not doing a good enough job of keeping children off of the platform and this is causing depression, anxiety and insomnia in children. And I will say too, I wasn't on, I don't really use social media but I did recently create an Instagram account just so I could save some pictures on there that I wanted to keep for the long term and just keep up with some of my friends that don't live in the state. I've been on in two years and getting back on there, I mean, there's plenty of accounts on there that obviously look like they are owned by children and the content that they're consuming and what they're saying is insane. I mean, being like 15, some of this stuff I had never even considered. And there seems like there really is, you can look on TikTok as well because a lot of young folk are on there as well. And the mental illness is rampant on that. So it's pretty intense. This is dozens of US states are suing Meta platforms. Let me pull it up here. And it's Instagram unit accusing them of contributing to a youth mental health crisis through the addictive nature of their social media platforms. And a complaint filed in Oakland, California on Tuesday, 33 states, including California and Illinois so that Meta, which operates Facebook, has misled the public about substantial dangers of its platform and knowingly induced young children and teenagers into addictive and compulsive social media use. It's pretty intense guys. I mean, there is even, I was talking with someone, they're asking about a TikTok, Tiger Financial News Network is on TikTok. If you guys wanna check that out, we also have our shorts on YouTube, but that's about where I'm gonna interface with TikTok personally. But there were kids developing like Tourette's tics from it. And what I mean is they were, it's called Tourette's talk, right? And it's just individuals who suffer from this. They're talking about kind of the nature of the disease. And it saw a lot of young folks starting to emulate them, right? I don't think we're fully aware of the psychology of young folk at this point. And that's gonna change, I think, in the next coming years, especially since we're so interconnected with social media and so much content that prior wasn't really in the public discourse is now being put on there. And I think we're seeing a big effect with that. You know, as to how this is really gonna impact meta, there's always government kind of looks into these guys. There's obviously a lot of citizens who form groups that talk about this. Nothing ever really changes. I've spoken about it a little bit before, the kind of sketchy territory we get into when we have some of these older folks in Congress who just aren't familiar with how tech works, right? And they ask these questions, which are then kind of translated in media as like ignorant questions. But in reality, a lot of them are actually pretty valid. But the problem is, is the congressmen don't really know how to respond to some of the answers from some of these executives. This causes a major issue. So I don't see any legislature being passed. Of course, naturally, parents should be more in control about what kids look at, so on and so forth. But this is a financial channel. And so we'll get off this topic now. But I just wanted to bring that to everyone's attention that now we have 33 states are suing meta. We'll take a look. We have a lot of earnings tomorrow here. We have Microsoft, we have Alphabet, HSBC, Visa, and Coca-Cola. We can take a look at Coca-Cola. They have done, looks like they're gonna do really well. It can be just one second. KO, that's what it is. So they're up about 3.18 today. It's raised their full year revenue forecast Tuesday after a stronger than expected third quarter. Now we expect that organic revenue will be up about 10% to 11% for the year. That's up eight, excuse me, that's up from 8% to 9% guidance, co-counts at the end of the second quarter. They expect earnings adjusted for currency variations will grow about 13 to 14%, which is pretty stellar for them. The shares obviously rose about 3%. You've had a pretty stark decline starting in July. Instead of global case volumes rose 2% for July, September period, coffee sales saw the strongest growth as demand grew in the United Kingdom and China. Coca-Cola, zero sugar sales were up 3% on growing demand in Latin America and North America. Of course, Latin America also suffers from extreme obesity crises just like the US. I think Mexico is now in most overweight. Country in the world. So we're gonna see a big movement towards diet kind of drinks like that. Folks, stay tuned, we'll be right back. We're gonna have Basil Chapman on, which is always great. He's gonna give us a little guidance about what's going on in the market. Folks, stay tuned. 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Larry will also provide daily charts, videos, and data on the key markets that he's tracking. Expect notifications from Larry on market movement you need to act on at any time. First-time subscribers also get a 30-day money back guarantee. If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up. Subscribe to the Fibonacci 24-7 newsletter today. TFNN.com, educating investors. All now, toll-free at 1-877-927-6648. Internationally at 727-873-7618. Welcome back, folks. I believe we are with Basil Chapman. Basil, can you hear me? I certainly can hear you, Jacob, sounding very good. Yeah, how are you doing? Was your trip good and all that? It was very good. Thank you. Awesome. It was always good to be back home and in the office and not having any technical problems with having everything run smoothly. I can imagine. Well, awesome. Well, Basil, what are we looking at today? So I'm going to start off with the dollar just for the moment. I wanted to show you, first of all, for subscribers, we've been along the dollar actually since 2018 all the way up, and then it came back. Our stop held and we still hold it long. And what I've been looking at is I'm just going to use this particular chart right here. This shows you, I've got the right one. Yes, this shows you the daily chart of the dollar. And when this green line, which is the nine-period exponential moving averages, average crosses over the 14 and goes green, that's very positive. And look, since the moment it turned up, July the 31st of this year, it was in the 101s, it's gone higher. It did this, I did this left-side, right-side price time match here and went to that, but what I'm really looking at right now is that even with these dips, that nine-period moving average, this morning early when I was doing my newsletter, there was a little s. And that little s shows like it did right here when it turns pink. When it turns pink, it means the nine-period moving average went under the 14. And yet as the market started, it went green and stayed green ever since and the dollar was at 106.27, up 0.65. So I have a lot of, I give a lot of credence to this particular one indicator, I call it the indicator of last resort because it takes its time and when it finally turns, it's usually pretty meaningful if it stays that way for about three or four bars. Doesn't matter what time frame. So in this particular context, I wanted to show you something else. In the weekly charts, I in D-E-U, in the weekly charts, I'm gonna move this over to weekly chart, there it is, click. The Dow has been, the nine has been pink. And so we went short right here, August the first right at the top of this recent move and we remained short. We did have a three times short. We actually had a three times long position. We switched it on Friday because it looked like the market was going to make a pattern that I called the dreaded H. I'll show you right here. I go to the Dow chart. This is the daily chart on the left. So it was like that. And I thought, oh, this is that part where it rolls very sharply to the low to test the left side low, which would be 32,846. So we went short, held the short and this morning we got out of the short where we took profits before we took completely out. And the reason is there's a chance, especially now that we're looking at GE, these stocks that have been hammered lately, having a very good session. If you're looking at triple M, which is, I mean, three M is just everything's gone wrong. Having a nice session day up five visa, the same thing. Just recently had a very sharp pullback, having a good, these are all earnings reports, even Raytheon, which really, I mean, look at this chart up in the 109 area goes all the way down to 60 and then had good earnings report today. So the way I was looking at it is if these really strong laggards start to find some kind of support and we're about to get Google. I have a difficult time calling these by their changed names, Facebook and Alphabet and all that, I like the original names. So, I mean, Google comes out and Google is holding so well. It looks to me like it could have, it could have a nice pop. Microsoft has a fantastic company which has remade itself after 2000, the year 2000 when it was the leader, it became a failure, it just dropped huge and now look at it, it's up almost near the all-time highs. So we're looking at these, if these results come out, it's going to mean that any selling pressure that we see now is starting to be alleviated by some good earnings and that I think is very important. So just to kind of refresh, I just wanted to show you the charts here. So this pattern I always look at which is the arch formation you can see in the weekly chart, as I said, the nine cross negative, the nine period moving average. I respect that, but we have not yet taken out the left side low of 32,848. We did in the S&P and it's fascinating, each timeframe look S&P took out the left side low having a nice bounce today, but that weekly also went to the nine period moving average, so I have a trend line here that makes it really important that the 4,200 level holds this week on any bad news. But I'm starting to think that a major part of the selling pressure that I've been looking at for quite some time, and as I say, using one particular tool, the Unbalanced Volume, we got that short right there, 35,679 in the August the 1st. That was the high of the Dow, most recent high, yearly high that it's made. And we also went short the S&H's two days later, and they've been coming down, and they've also seen the S&H's, the Van Agde Semiconductor ETF, the nine period moving averages cross negative. So in sum, what we're looking at is there's been selling pressure, some of it has been sideways, because I used to look at the market three ways, it's either sharply down or sharply higher, or it's sideways, so either using time, using price, or using time and price. And some of these charts and some of the indexes have used time and price, but you can see the semiconductor, which I consider to be really important. It's the semi, the chips are like the oil of the 1900s. We need it in everything, so that's really important. And the other thing is crude oil is pulling back, but we still have uranium stock, and it seems to me if energy rotates, we have a stock called uranium, there it is, UEC is the symbol, uranium energy, we have it in $3.60 area, it made a new recovery height today of 583. And it's just saying this whole rotation through the different sectors and the different stocks. So in this particular instance, it might be that uranium is, if oil does pull back a bit, then one of the alternative energy sources, uranium at this point is acting quite well. So I'm looking at the market saying, these are the conditions we have, the Dow needs to clear to be able to change direction. It really needs to get to the 34,100, it's just 1,000 points from here. But in the meantime, it could quite easily bounce into the 33,000, 33,000, I'd say 400 level. And then we'll see, because this pattern very often, if it holds the left side low, then becomes an H, lowercase H that goes to a lowercase M pattern. So, and even we can see in gold because the gold chart is holding very well, but after a spectacular run to the upside, this week is going to be very important to see, is this kind of a one-off? And then because the Middle East sort of, maybe it calms down just a little bit, maybe gold, which is the currency of fear, starts to pull back a little bit. I'm watching this very closely because there's a relationship to Middle East gold and fear. So at this particular point, the gold is holding pretty well, I'm watching it very closely. Yeah, I think we'll all be watching gold very closely as well. And Basil, again, I love looking at the semiconductors as a barometer for everything else running. I think that's super insightful and I've been thinking about that like just by myself anyway. So, thanks for turning us all into that. And guys, you can go to TFNN.com. You can subscribe to Basil's newsletter, the opening call. It's great, Basil. Thank you so much for joining us. We'll see you next week. Thank you very much. Take care, Basil. And he shares his vast amount of trading knowledge every day in his Mastering Probability newsletter. Steve's award-winning newsletter, Mastering Probability, is delivered every trading day with updates throughout the afternoon. Sign up for Steve's market newsletter, Mastering Probability, and you'll receive access to seven of Steve's educational webinars absolutely free. At TFNN, all our newsletters come with a 30-day money-back guarantee so you have absolutely nothing to worry about. Visit TFNN.com and try Mastering Probability, 30 days risk-free today. TFNN, educating investors. Sharpening your skills as an investor is like getting better at playing a musical instrument. You have to practice, sure, but you also need excellent instruction from experts. 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Don't forget, you can listen to TFNN live on your mobile device 24 hours per day. Go to TFNN.com and hit watch Tiger TV. That's TFNN.com and hit watch Tiger TV. Welcome back, folks, and yeah, we actually have Tim Ordonline before we get to him just real quick, taking a look at Raytheon, and I actually invest in Raytheon, and I like the company, but what had happened here, I think we went over this when I filled in sometime in July, but basically a defect was found in one of their turbines, their jet engine for airliners. And this really just started a steep decline in Raytheon. So we'll see if these guys can get back up. I mean, this was such a sweet level to have it at, it's 102, but obviously this is some immense volume to get back over that hill with, so I'll have to wait to see if they can kind of, you know, pivot away from that defect in their jet engines. Anyways, we are with Tim Ord today. Tim, can you hear me? I sure can. How are you doing? I'm currently on. You doing all right? Oh. Can you hear me? Yep, yep, I'm doing fine. I'm here, so. Perfect. Yeah, let's crack into this. I was taking a look at some of the charts on the break and I'm really looking forward to hear what you have to say about these, so. All right, we can start on chart one. We presented this in the past. It's actually one of the reasons why I got long when everyone kind of was buried, I think it was back in April or May. This indicator was giving a bump. First, I actually tell you why it is. It's basically, the middle window is the VVIX, which is a VIX for the VIX and the slash VIX, which is the VIX, which is the fear index. And this indicator is kind of a leading indicator. It gives you good clues what the market's gonna do. It shows up best at around reversals in the market, both up and down. And I pointed out previous times this chart goes back quite a ways, I think back to mid to about 2018. And when the S&P goes up, a lot of times this indicator starts going down, warning that top is not too far off. And I may outline those in red arrows where they occurred. And right now, we've been going down here. We're actually testing the late September, early October lows right now. And Mark's rallying up a little bit here, but I want to point out on the right side of the chart is a blown up of what's going on. Actually, if you flip to page two, it kind of gives you a better view of it, or chapter two, or a chart two rather on page two. Kind of shows you what happened at the last high of July. This July where Mark was going up, this indicator was going down. Now we've got something the opposite. We've got the market pretty much going down, making lower lows where this indicator so far is making higher lows. So it gives you a warning, advanced warning. It doesn't say that the bottom's in, but that's safe, you're approaching the bottom. So this chart, let's see what goes back to what Mark's there, if you look at the Mark's low, that blue box, the market was making lower lows, this indicator went sideways. Then again, the July high, the SMBs were going up, this was going down. So now we've got back to the blue box again, we've got a positive divergence. So there's something developing here pretty close, maybe this week, maybe next week. But what I'm really looking for is on chart three. So we've got a divergence, a bullish diverges in the VVI-XIVX ratio. But you need really a lot, and actually that indicator is a fear indicator. It's the reason why I kind of lean that way. Fear only happens at bottoms or panic only happens at bottoms, tops are a little bit more difficult. But this indicator is another fear indicator which is the 10 day arms, which is the second window up from the bottom. And when this indicator gets around 0.2 or higher, you got panic in the market. And a lot of times you're approaching a low or at the low. We had that first low, we had back in late September or October, that's the shaded pink areas, but at times when the trend is up of 1.2 or higher, we had that back in the September, early October low. And right now I got kind of a blue shaded area. It says that we're coming in at like 0.91, which is not bullish at all. So that tells me the market's not, you know, though we're testing the previous lows here, we don't have enough panic, panic creates energy and we don't have enough energy to really pop off this low yet. So, but you do have a bullish divergence on the VVI exavix ratio, but not enough panic in the markets according to the trend readings to just for the low would begin right now. So maybe we're going a little fast here, but let's flip to chart four. Right here? Okay, chart four. Okay, I wrote, the blue lettering is when the trend reached panic levels and the ticks reached panic levels. And I recorded all those panic levels, what day they occurred there. And back at the late September, early October low, we had panic and then trends and ticks, I got them labeled there. Market rallied up, we didn't get go, didn't get, we didn't have enough strength, continued strength to actually go higher. So we're coming back down, retesting the lows. Well, the market was down five days in a row going into Monday. The market's down five days, this is a quantitative analysis, but if the market's down five days in a row, the market will be lower within five days, 83% of the time. And that's just dates back for about, I think it was five or 10 years, I forgot how it was, but there's quite a bit of statistics studies done on this. So even though we hit a low, we bounced up, that's not the final low. So I'm thinking we're gonna go back down and test the recent low we had here on Monday, if not break it a little bit. And the bottom window is a 10-day trend. Well, the 10-day trend needs to get up to around 1.2 or higher. So I'm thinking what's gonna happen here is the market's gonna fall back down, if not this week, probably next week. And it's probably gonna create a lot of panic and ticks and trend. And that's gonna push the trend up to 1.2 or higher. And that'll be the signal, finally, to get going to the upside. You know, that's a lot of ifs, ands, or buts. But if you look at today's volume, right now we've got virtually no volume going on this rally. And that's kind of a clue that didn't have enough strength to get going to the upside. So we're gonna fall back. How much we're gonna fall back? I don't know. Usually, when you're afraid to pull the trigger on a trade, it's usually the best trade you make. And so I'm thinking for this week's out or late this week or early next week, we're probably gonna fall back. And it's gonna be all the bad news about something. You know, we got some wars going on. It could be bad news about that. Not sure what the trigger's gonna be, but it always seems to be some sort of news announcement that blows. And that's when the trend really pops up. You may see a 1.5, maybe two or three trend on a close. And that'll be my trigger. If that happens, probably end up with a buy signal. But I think we're close to a low, according to the BVIX VIX ratio. But we need the 10-day trend to pop up there at a 1.2. If that happens, then I'm probably back on a buy signal. Right on, yeah. Just waiting for that juice to get back up there. Good stuff, well Tim, please stay tuned. We still have some charts to go over if we're really enjoying it. So folks, we will be right back with Tim Orton. If you're looking for potential trading setups in the stock market, then Rocket Equities & Options Report is a newsletter you should try. Tommy O'Brien delivers options and equity trades when the markets present them using a combination of fundamentals and technicals. 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So I think we were just looking at the 10-day trend in relation to the SPI as chart four. So what else are we looking at today? Do you have any questions about the first four charts or if not, we can move on. No, yeah, I think that was explained very well. I'm ready to move on for it. All right, let's go to chart five. Perfect. We're looking at GDX here. Yeah, it's a GDX chart. And GDX is kind of like a different animal compared to the S&Ps. S&Ps kind of work off of panic and euphoria type indicators. And where GDX, I mean, if you get panic and GDX, it could still move lower. And I never really found a good indicator to really signal a bottom far as panic indicators. So I kind of went a different direction over the years to figure out what works best. And what seems to work best is the up-down volume, advanced client type indicators. So it kind of measures the internal strength or weaknesses that GDX has. And this chart number five, it only goes back about a year or whatever. And the blue areas are times, actually I should tell you what the bottom two indicators are. The bottom indicator is the 18-day average up-down volume, or is that the, yeah, it's the up-down volume, it's the 18-day average of the up-down volume, and next window higher is the 18-day average of the advanced client. So when these two indicators are above minus 10, and that's when I shared in blue the markets in an uptrend, when these two indicators are below minus 10, the markets in the downtrend. So over the last basically year, it shows the times of his up-trends and downtrends. And both these indicators work pretty well, defining divergence. In other words, when the S&P's is making lower lows and those two indicators are making higher lows, if you look at the bottom back in March, you know, the GDX has fallen down, made a lower low, and both those indicators made higher lows, that's circled in red. And going into a top of about April, May there, GDX is making higher highs, and both those indicators are making a lower highs. So let's get over to what we are at the current timeframe, which is basically starts in about September. The market, I was pretty bullish in August, and the market still fell back, but both those indicators made a circled in red, and I noticed, noted with the red arrows that the market was making, both indicators were making higher highs and higher lows, as GDX was pretty much working a little bit lower low. And that's in the past as a bullish divergence, but the market still went down, I think it's just kind of a shakeout type decline, but both indicators, as we're talking, made this early in the day, as long as they both above, remain above minus 10, the uptrend's intact. And so far, there's no divergence. Actually, if you look on the GDX chart, we're pretty much matching the previous highs we had in the September period there up around that 30 range. And both indicators are still making higher highs and on both those indicators. So that's a positive divergence. So even though we're retracing our minorly, at the moment though, I don't see any top, if both those indicators were actually falling back, approaching minus 10, I'd be a little bit more worried, but so far that's not happening. So even on a short term basis, we've got a minor consolidation, but this consolidation is probably, my opinion, a halfway point of the next move up. The reason why I say that, we can flip to chart number six. All right. And so the previous chart was a daily chart kind of looks at the short-term moves. And this chart, it looks at the bigger moves. It's a weekly chart. And this chart goes back to actually beginning of 2022. So it's one, you know, you're close to two years or whatever. And the bottom window is the cumulative, weekly advanced decline. And the next window up is the cumulative up-down volume indicators. And I've tried working on this for a while, that there was something there, it can never figure out why, until I put Bollinger Bands to it. And what seems to really work well, when both those indicators close above the mid-Bollinger Band, it's a little bit late on the buy, a little bit late on the sell, but it gets you in the main trend. That's what I was kind of looking for in the weekly time frames, because I got shorter-term indicators. They work pretty well getting in the short-term time, but you don't know if you're catching a big trend or not. It may be just a short-term trend, then the market may fall back again. Well, this catches the trend. You know, most of these times when a signal is generated, they're usually generated anywhere from two to six months trends. And if you notice to the right here, we closed above the mid-Bollinger Band on both indicators last week. Now, the market went up for three weeks before that triggered that indicator, but since now we're above both the mid-Bollinger Band, it's, yes, at least we got two months to go here on this rally and possibly six months, which is basically next what the March-April time frame don't know how far that's out, but it's a multi, it's usually a multi-month indicator. So we got something on a bigger time frame, at least so far, is signal here. So how big is the rise? As long as both those indicators remain above their mid-Bollinger Band, they could go on for a while. And matter of fact, the last time they gave a sell was back in April of this year, and that's the last red line, and it hasn't turned bullish just until now. So April until October was at six months. So it declined for six months, got that six month decline, and now it may catch a six month, I don't know, at least two months advance. So our short-term basis, the previous chart looks bullish, our mid-term basis, the bigger trend looks bullish. So how high is high, we'll have to wait and see. Right, and I wanna ask on, oh, sorry, go ahead and Tim, I'm sorry. No, I'm done, go ahead. I was gonna ask on chart five, I like this, look at it, the closer you approach this kind of 10 line here, right? Obviously, the more nervous you should get on a trend reversal. Is there, obviously we're gonna have a little dip right here based on this chart, right? How many consecutive days, I guess, of approaching this 10 line here would make you nervous? Is that question makes sense? No, the minus 10 line, do you mean? Yes, yes. All right, well, we're a long ways from it, I guess. And normally a lot of times that, that not always, but a lot of times that, so far, both markets, the up-down, volume advance kind of indicators are not falling back. I mean, they're holding pretty steady at the recent high, so you're not seeing a pullback. Yes, that tells me that we're probably, even though the markets fell back here, GDX has fell back, both of those indicators are not falling back, showing strength, but they just start, approach minus 10, chances are, if they're approaching minus 10, they're gonna go through minus 10. Right on. That's not happening here, so I'm thinking you could actually buy here, and I think you'd be okay. Awesome, Tim, thank you so much for joining us, guys. That is Tim Ord of the Ord Oracle, Ord-Oracle.com. Tim, thank you so much for joining us. All right, thanks for having me on. All right, have a great yesterday, Tim. Bye now. Folks, stay tuned, we'll be right back. Are you ready to take your trading to the next level? Introducing Tom O'Brien's award-winning newsletter, Market Insights, your key to successful active trading. Tom O'Brien, renowned for his expertise in the financial markets, has designed Market Insights to be your daily guide to profitable trades. 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Don't forget, you can listen to TFNN live on your mobile device 24 hours per day. Go to tfnn.com and hit watch Tiger TV. That's tfnn.com and hit watch Tiger TV. Welcome back everyone. This is Jacob Schup filling in for Tom O'Brien. He will be back tomorrow. We were just with Tim Ord of the Ord Oracle that is Ord-Oracle.com. Go give him a visit and see what he has to offer. He is always, always a great time on this show here. Take a look at Spotify right now. They're coming back a little bit, which is positive for the company. So they had this big run-up, essentially what happened about this time and a little bit in the past as well is they had dumped a ton of money into trying to make Spotify like the platform for podcasts, right? They spent billions of dollars on this, all right? I think they paid Joe Rogan almost a billion himself just to move everything to their platform and then they have a few other heavy hitters we'll have to see in the long term if people start going to Spotify right for their podcasts. I think the major issue here and what this will shake out to be looking at this right is gonna be which platforms have the least amount of censorship, right? So YouTube is getting bad for a lot of podcasters, right? They have to not talk about something or if they do talk about things they risk becoming demonetized, but of course as well there are some other platforms such as Rumble that have come about to try to kind of rectify that issue but they just don't get the amount of energy as things like Spotify and YouTube do. So if Spotify can kind of get that sweet spot where there are a little less stringent on their censorship and what you can and can't talk about that might be in the clear. However, their financials were pretty decent. The number of, and what's really big about this here you can talk about operating income and focusing on efficiencies which is a major issue for Spotify but of course they dumped a ton of money into the company. They got rid of about 6% of their staffing. Their gross margin rose 26% which is pretty solid from July to September but then the company's number of monthly active users rose 26% to 574 million. Excuse me. And that's really I think the big driver for these companies that rely on basically ad revenue. Folks, thank you so much for joining me today. Tom will be back tomorrow. I'll be with you just for the short news segment after this. Have a great rest of your day folks and we will see you tomorrow at 9 a.m. for Tommy O'Brien's show of the morning market kickoff. Take care now.