 Good morning, everyone. Let's, what is everybody doing? All right, let's look at Foot Locker here. Let's see if we can get Foot Locker. All right, Foot Locker already had a setup in here. Let me just see where it went. Well, it went to the first target $40. Journey Woman did it? Anybody else? All right, jeez, I might get lucky here. Let's see. If you did it, I would have gotten out of some of it there, or at least half of the whole thing. I'm watching this here now. Foot Locker, stay on top of it, everyone. I'm trying to be focused to get something here today. Market is trying to hang on. I don't think it does. I did look at that quick when I was on the call. Watching Foot Locker here, if you did it on your own, I would have got out some there, because it didn't meet the first target. Here we go, Foot Locker, let's watch. All right, stopping this is going to be $41.20. And I don't have the entry yet. Actually, this isn't going to be small. Let's do 25 by 20, 25 by 20 Foot Locker. 25 by 20 Foot Locker, short if you want it. And if you don't know what I'm doing in the open house, I apologize. I had to do an interview this morning with CBS. So now I just got off of it. We're going to try to get something here soon. 25 is the entry. Stop, it's 41.20. It's not small. Our divides was in and out. Oh, Journey Woman was out. Everybody did it, got out. Good job, people. All right, let's see. See if we can get it. Let's see if I can get it. Actually, let's do 49 by 20. 49 by 20 Foot Locker, short. Here, take it, take it, just don't worry about even where you got filled. Get the stop in, it's going to roll over. Get the stop in at 20. Here it is. Let's see if we can get one quick trade. Thank you for cooperating again today, market. 41.20 is a stop, Foot Locker. Here we go, here we go. And the other targets I had are right in the room 39. Here, be in it if you want it. And if you did it on your own, that's fine. We're still going to get something. This is amazing. Yeah, 41.20, that's plenty of room. All right, here we go. We got to break the load, though. We got to go back down to the number 40. I want to see 40 broken of Foot Locker. I might just scalp out of it here. I do think the market's lower, though. And I don't really have time to look at that right now. Oh, you're not out. Journey Woman's not out, OK. All right, well, just make sure you have the stop in. Actually, I do want to look at this really quickly because of the fact that, and I don't really want it to bounce anymore, 40.10. Oh, actually, went to 39.56. I just saw that. That's really good. All right, 39. I just see it went up. I didn't even see that. I was just looking at it so quickly here to get it. All right, that's good sign. Doot, doot, doot, doot, doot, doot. Thanks, Kathy. Wow, this really did have a nice move. I just noticed this here. It's won a buck. Journey Woman, I don't know why you didn't get out of that. If any of you did this on your own, but you know what to do, you should have gotten out of this trade. That moved to $1. Now, I mean, obviously, we're in it here, but you could have got two trades. This was the exit. I absolutely, without a shot of it out, I just noticed that now. It went to 39.56. I would have been out of that. It doesn't matter. We're in it now and it's working and we're up. One quick trade in here and then we can here. Well, not for me, probably. I'm probably gonna be on TV somewhere today and it's snowing slash raining so much for winter being over here. Footlocker, we have to break 40 and we are going to do that any second. We have to break 40 again. I mean, a second time. Let me just look here. Time of the day, I didn't even get a chance to look at what econ is coming out of what time market's gonna fall today. No, this does not look good. Oh, yay, yay, to do, to do. I do not know why market is not wanna hold up, but it just doesn't. And that's the name of the game here. Is anyone in the world still in that Walmart put? I mean, I'm just wondering. Well, look at that when we're done because that is really going down. And journey women, why did you knock it out of this here? This is went down a dollar. I want a reason why you didn't get out of this. You gotta take your profits on these trades. You gotta take your profits on these trades. Here, Footlocker. And if you didn't do it, it's really too late. You really had, I mean, you could take it here but the stop's gonna be where it's gonna be. Here, here, Footlocker, pay attention everyone. 40.07, I think it goes to 39 today. They'll even more certain of that now with that low. But sooner rather than later for me here would be a preferential here, Footlocker. One hard push down, one hard push down and I'm gonna take it wherever we get a hard push. Through 40, I knew this was the one. I will talk about it when we're done but I gave election in the room. I talked early this morning because I knew I had to do the call and a lot of you weren't here because I normally don't get on early. But we'll talk about it when we're done. Here, five minutes setting up even if you want a short Footlocker here we can take it, bigger stop. It still has to be 41.20 but if you missed it, it's valid, it's confirmed, here's Footlocker. It's shaped up to be a pretty good week. Strange, strange week though with the way that we started. If you look at the start of the week this week the rally the market had into the Friday, it's Bizarro world. Bizarro, Bizarro. And we're not gonna hold today. So the question is, do we kaboom now? Do we kaboom later? I prefer now with Footlocker. Here we go. Here we go. Here we go, Footlocker. Here it is everybody. Watch, watch, watch, watch, watch. Oh, nice call. Nice call with, I'm like blinking and looking at charts. 77. All right, let's just look at this thing here. Kuala Bear did it twice, wow. Kuala Bear, you're having a good year, Kuala Bear. Some of you are finally starting to get your mojo. Here, Footlocker, hey my hand is on the button here because I'm not letting this get away from me and it's almost a buck and it's Friday and it's everything and we're busy and it's Footlocker. No piggies today. I forgot how wild Footlocker is. I'm still in it, but I'm up in it. I forgot how wild this stock is, jerky, whippy, I could say. I think this breaks Santa Falls again, but it's very whippy. I mean, I didn't get out right there at 75. I thought it was gonna break the low. It's, this stock is very jerky, I forgot. But now I've remembered. Kali heads out with profit, good. If you take it out in there, it's fine. I mean, it was like pennies from the low and I didn't get out and I'm trying to hang on to it. Footlocker is whippy, I forgot that. But now I'm reminded, here. This has got to keep going right here. I am gonna take it. Here, Footlocker, back in the 80s and I'm not letting this get away from me now. See if it breaks 80. The breaks 80, I'm staying with it. If it doesn't, I'm taking it. Just gonna try. Fred made $250, good job. Is that possible? There, no, I'm out. I took it, I took it, I took it. I just can't sweat it through the low. If you're still in it, it looks fine, it looks great. I'm not letting it back up over 40 again. It was a nice trade, great job. Listen, if you did it twice, you got pain. If you did it and you're still in it, I love it. I really, really do. I cannot believe that I just did something like that after doing a television interview. I'm like, this is crazy town. I mean, listen, I'm done. I'm done for the week. What does everybody wanna go over? If you're still in it, stay with the trade. Stop's $41.20, I'm done. I do not want it to bounce up in the 40s, I already did it once. It looks great, was trying to get a buck out of it, close enough, close enough, but it's gonna try to break the low, if you're still with it, fine. Jasmine, yes, we'll go over that right now. Is anyone still in it? We're gonna go over the trade, we'll go over the gap, we'll go over the market. I don't know if there's anything else to go over. Yeah, this is probably gonna go right now. You stinker. I just didn't wanna hold it through a backup over at 40. Well, let's see. Still with me. Is anyone still in it? Green Maverick's still in it. All right. Okay, let's go over it. When I call a trade, the first number is the entry and the second one's a stop. Here, it's gonna try to break the low. Journey woman, don't miss your exit this time. Dubads is out. No piggies. And if the market falls off a planet today, you can redo this like 10 other times and everything else in the world too. So, which we don't know, but I think the market does fall. The first number's the entry, the second one's a stop. So, if I say 50 by 20, that means you're shorting it at 50, putting the stop at 20. So what's your risk? 70 cents. That's how you figure it. First number's the entry, second one's a stop. This is gonna break the low. I still think I did the right thing because you just don't know. This looks great though. What were the other ones? Key, I have a set risk, money, and dollars. It's not the same share quantity every trade. Why? Because a stop is not the same in every trade that I take. For example, today's stop was 70 cents, but you can't take the same quantity. Sometimes I take 4,000 shares of something, but I didn't do that today. Even if I had, what would my risk have been? 2,800 bucks, which I do not risk in day trades. You can't go by the share quantity. Go by the amount of the difference between the entry and the stop. Jared, I guess you're here in a trial. I think you emailed me. For those of you that have emailed me, I'm sorry that I did not have a chance to get back to you. I've had a very busy week. Nobody ever went broke taking a profit. That's true. Journeywoman, this was a great call if you did it on your own. I'm not sure why you didn't get out, but this was good if you did it. Some of you did. And I called this here. This was perfect timing, right after the interview. Boom. Looks good down to the low. I do think this goes to 39, and I did write that in the room. I did write that in the room. I wrote it in the room this morning. Anyways, you must risk whatever you can afford. $500, $1,000, 200 bucks, $100, whatever it is, that's how you're gonna figure out your share quantity. And it's not the same for every trade that I take. And it's not gonna be the same for every trade you take too. And that's something that you gotta get used to in your mind, and I usually make it easy on myself by roughing it out. So this is not an exact science. For example, you gotta get the trade when I call it quick. And if in your mind you can't figure out 70 cents that quickly, take a couple hundred shares, and then if you realize you actually can take more, grab a couple more, put the stock. If you oversize yourself though, and you notice you did it, and the trade starts to drop, which by the way this is, you would have been up at the number I hit it, then back it off, take a couple out, you're up, put the stock back in. Here, here it goes. I knew this was gonna do this. It's gonna go to the 39. Is anyone still in this besides Green Maverick? Here it goes, here it's through the low, footlocker. Anyways, the point is that you have to have a dollar and cents amount that every trade should be equal, because what if you take one good trade that works fantastic, and you risk a thousand bucks, and it works great. And then what if you take another trade, it works great. You have two winners, you risk the same. Here it goes, it's gonna go to 39. I still can't believe I did what I did today. Or even the other day too. What was the day? I was on cheddar, that was crazy too. And what if you take a third trade? You have two winners and one loser, and here it is, it's gonna go to 39. Crazy town. And the third trade is a loser, and you don't risk a thousand bucks, you risk, you're actually down money in your account after two winners and one loser, all because of what? You didn't sign yourself correctly. So do you see how it is? It's very important that your risk be the same or close to the same whenever trade you take. Here it is, full locker. Here, let's look at the market. Man, what a great call. The market is gonna try to hold that area. I don't think it's gonna last by four o'clock today, unless a magnificent buying comes in and sweeps the market off its feet like Prince Charming. And I don't think that's going to happen. 264.30 is the area, and we got within 52 cents of that, and I don't think it's gonna happen unless, like I said, Prince Charming comes in and sweeps the market off its feet. I just don't think it's gonna happen. We're nowhere near that area in the queues. We broke it already in the Dow. All of these things look so different now. Is everybody out? How much money do you need to start trading my way? You need to have an account where you can actively day trade. That's all that you need, and you need to be able to afford my class, which is $5,500. And then you have to open up an account. You can open up a prop account with as little as $2,500. You can open up a retail account, but you're gonna need way more, $25,000. You Google online, find out brokers, call around, get information. You have to be able to actively day trade. Get in, get out, get in, get out, get in, get out. Take the trade today in Fort Locker, get in, get out. And I would really be bar by barring if anyone is still in this now, because you're 30 cents here from this dream target, and it was a great call, and I knew this gap would work. If you want information for referrals, key just email me. I don't want to get too off target now about brokers. Just email me if you want a referral. It really doesn't matter who you use. You got to call them and talk to them, do your due diligence, find out what they charge for platforms and commissions and all of that stuff. Here's the chart. Here's Fort Locker. Where do you think it's gonna go? Lower. It's a really nice trade. What did I say this morning in the room? What did I say for those of you that were here? Anybody that was here? What did I say about Fort Locker? Was anyone alive or awake or here when I said it? Jasmine, email me. I can refer you to that too. Was anyone here that's still here when I talked about this gap this morning? Anyone. Okay, journey woman. Good to see you. Big Fudge doesn't remember. He's drunk on Fort Locker. Dubod said this is the one. Tango Bravo, you were here. What did I say? And you're new. Green Maverick was in here. Dubod said this was the wrong one. What else did I say? Tango Bravo, you were here. Fred did a two times great call. Thank you. What was the other one this morning? Oh, JC Penney. The pull baby. JC Penney worked, but nowhere near as good as Fort Locker. So I'm definitely glad we did this one, but this one is fine too. What happened to this thing? Nothing at all? Was a failure completely and totally? Well, I rated the gap. I rated the gap. I got up in the morning and I looked at this gap and I knew it as soon as I saw it. Instinct immediate. However, I still rated it. But the first thing I said was this is a good one. And I rated the gap. That's what you come and learn from me. You learn my system to know which gaps are good. It's a 26 point rating system. But I said something very important today that no one seems to remember. I said no matter what this does today, no matter where it rallies, it's gonna work. That's what I said. That's how much I like this gap. I said, in fact, I gave 44. I gave 44 as a resistance level for this. Scroll up in the room. I wrote it in the early this morning. I said, I'm even gonna say this. You can do it no matter what. Cause I didn't know what time exactly I'd be back. Anyways, I said, this was such a good gap. I said, this is, I don't even care where it rallies. Be careful here though. Do not let this back up against you if you're still in the trade. Time of the day is 10 o'clock. I'd bar by bar it. Anyways, what did I see in this and what would you learn if you came from me? You'd learn the rating system, which tells you what? What's the purpose of the system? The purpose of the system is to tell you is it's not gonna have buying or it's not gonna have selling today in the gap. Here it goes. It's gonna get a 39. Holy crap. I got out of it and then it fell down. I can't complain. It's been a good week. Here, full locker. Here's gonna 39. I can't even go to 38. Go. Anyways, the point is though, it tells you what I'm looking for, what I'm trying to predict is selling or buying action. So when I look in the pre-market and I see the gap itself, which everybody can see, I'm not predicting the gap. I didn't know what the earnings would be in full locker and I didn't know where it would go. And I don't know if this was tonight or this morning. Let's look. Actually, it was this morning. So here it was. Anyways, the point is this happened this morning early and then I get up and I look at it and I say, is buying gonna come in on the day here with the full locker or is selling pressure gonna come in on it? This is really gonna go to the number. Holy cow, look at that. So that's what I do. I'm predicting what's gonna happen on the day. Not in the pre-market. You wait for it to happen. Just like GPS was up. This gap up ran up here. This was last night, 3560. I didn't open anywhere near that, but it's still the point that it gap. This was a bullish gap. So I looked at this this morning too. I did not think this was going to get bought. I was right. It's not gonna be bought today. The overall chart here looks good in GPS, but you can't go along the stock today and make any money. It's falling. And I wouldn't even go along it in here. Anyways, the point is that I'm trying to predict if buying is gonna come in or selling is gonna come in and that's how you make money when you trade. And that's why I'm so aggressive because I wanna get it right in ways. I wanna get it as quickly as I can after it sets up because I'm expecting, I have an expectation that something's gonna happen that's gonna move the stock quickly, whether it's up or down, which is how I predict with the points. That's what you come and learn in the golden gap class. But the point is that I'm figuring it out ahead of time what I'm looking for. If it sets up, I do it. If it doesn't, I don't. If it rates good, I watch it. If it doesn't, then I don't. I'm looking for buying or selling action to come in, but I prefer to short. And there's nothing to do with the market today even though I don't know exactly what's gonna happen here per se. I'm mostly preferred to short because of the fact that selling action happens very quickly and I like to make money and be out quickly. And so even if you didn't hold this all the way down today, you would have first quick dollar move here. That was great. I would have called it. We would have done it. We would have been in it. We would have been out. I probably would not have done this. I would have called it. I'd like to do one. If I had done this, I wouldn't have done another one. Anyways, I didn't do this. Some of you did it on your own and done the class. You knew what to do. We did this. We held it down. And if you're still in it, just be careful. 12 cents from the dream target. I think you gotta be out. 10-04 time of the day. Market trying to hold, but I don't think it does. Market probably will fall today later. 11. 12. And left prince charming comes in. I'm saying anything about $30. Where are you getting $30? $30 is nine points and 40 cents away. What do you mean $30? This isn't going to $30 today. I never said that. Tango Bravo, what did I say in the morning? Worry necessarily so much about holding something all the way down to a number as far as what you're trying to do. You're trying to turn your money around in a profitable way. So as long as you can do that, you will be successful. It's about the win ratio, which I've proven beyond a shot of a doubt is really key to doing this. 2018 has been an outstanding start to the year. And 2017 was good too. If you know that most of the trades you take, you're gonna be up and you're gonna be able to make money in, then whether you hold it to the bigger number, the dream target is not that important. There will be times when something just drops like a brick and you're in it. Actually, let's look at Walmart. And you happen to be in that trade and get it to some massive number. But that's not your goal every day. Your goal really is to have the consistency. More wins than losses. Few losses and way more wins. And I'm so confident in myself with that and so good at what I do that that's exactly what we achieve here. But don't worry if you didn't hold it all the way down. I'm not worried about it. It doesn't bother me. We got it. That's all that counts. This is anyone still in this. If you're still in it, just get out of it today. It's, you're really up a lot. And whatever happened to this thing? I have any questions about anything else? Everyone's been doing really good. And this is a slow road to China here, but trying. What's your questions key about the class? Ask me now. Ask me now, cause I'm not doing anything else and there's no reason to call anything else. And if you did the call on this, you're up and that's not for the day. Market's gonna be wishy-washy here, although I think we dropped. I don't know where we could boom. I haven't, it's been a slow week for calling options because literally things have been falling. And the best ones to play have been rallying. Walmart was a great putt. We just have to be a little bit patient here. I don't know what your questions are about the class key, but you can ask me. And if anyone else has any questions about today, the room for lack of the class, ask me now. Let's just look at some of these things like Amazon. What are some of the things I teach? I teach the 26 points, which is the whole day on Saturday, you learn how I figure out the gap reading. Then on Sunday, I teach six different entries where you learn how to take the entries yourself. You don't need me. If you wanna join the room, you can. It's beneficial cause I make the calls like today. But you learn on your own how to do it by yourself. You learn how to read where the targets are and you learn how to take the entries. And that's what the class is. It's, that's the two days. It's a lot of information and a lot of charts. Amazon doesn't look so great here either. Let me look at Microsoft. If you wanna email me, I'll send you the outline for the class, which talks about the top topics that I discussed, but in general, Saturdays at points and Sundays the entries. So first you have the strategy, then you gotta learn how to take the trades. Wow, that was a big sell off day for Apple yesterday. I'll look at Microsoft and I'll look at Netflix for everyone. It's live teaching, live, live, just like you're here. You're here with me now. You're asking me questions. If we go through it and I say the question out loud and then I answer it. Eastern time, March 10th and 11th, nine to five. Saturday and Sunday, which I always teach it on a weekend so it doesn't interfere with trading. Netflix actually looks, again, the strongest of anything. When I look at Apple and I look at Amazon and I look at the other things I look at Microsoft, Netflix still looks good. The question is, where and when does it go above, again, to make a new high? That I do not know because the market is gonna affect everything and that's the truth. The 5,500-dollar class does not include the trading room. If you sign up by today, it includes one month free and the wealth class, which is Monday. You get one month free for the early bird. If you sign up by today, Friday, March 2nd, and you get the wealth class, which I'm doing Monday after the room. Some of you already emailed me about that. Again, I have not had time to respond to you because I had a busy day yesterday, but I will. Depending on what happens today, I could respond to you today. If I'm not on TV today, then it'll be, or if I am, it'll be Saturday. Microsoft, what's going on here? G-Wiz, Tony, all right. First of all, if you did this trade and you were up a lot in there, you didn't get out of any of it, that wasn't a good decision. Tony, are you still in this option? Because that was a lot of money, and to my knowledge, everyone got out of it. I did say some big numbers for this, 98, 100, but when the market started to fall and this started to fall, you should have taken your profits. This was thousands and thousands of dollars for a lot of you. If you're still in this trade and you didn't get out of any of it, you need to write down a journal why. You should not have held on. That was a lot of money in that trade. It's all the way back down. You should have got out of at least half, and I understand what you're saying, but when certain things start to affect certain things, which the market has this week, on this point here, and this day, when it failed to get over the high and the market started falling, you should have gotten out of 75% of the trade, the whole thing or half. To let this go away from you, I mean, mm-mm. It's a learning lesson here for you. You and Gala had should have a party. I think he's already signed out, but this is exactly the kind of thing that Gala had used to do. I don't think you did it, Microsoft. But you can't be up a lot of money like this, and then I know you have a number in sight, and I have targets, and we had targets, and we're looking at things, but circumstances change. The daily room, you have to sign up for the class in order to have access to the room. The room is only for students, although I did an open house this week and last week too, because I had so many people interested, and my schedule's been crazy town. I've decided to do it, but I don't normally do this, so I won't be doing an open house again anytime soon. It's to give people an option to come in the room and just check it out. But you've got to do the class and learn the system in order to be able to join the room. It's just the way it is. The trade's set up too fast. Some of you are even asking me today about the entries. You see, you've got to, you know, here, wow, look, Foot Locker, under 39. Is anyone still in it at all? Nice call. Nope, you've got to do the class to join the room. Do I teach with stocks to train? That's what we do. That's what we do. We look for, that's what we do. That's exactly it, but they're gapping. You're looking for the gaps, and then we rate the gaps. That's what you're going to learn. You're going to learn which stocks to trade. You're going to learn which ones to do, to pick, to pick it. How did I find this today? Here was the list of things to do. That's exactly what you'll learn. There's a million things just in this list here. Plus there was a million earnings out. I could plop in the room as well. I'm teaching you how to find the good ones, and you only need one, clearly, which I like to focus on, and that's what we try to do. Although I told you JC Penney, too, was a possibility. Let's look at GE. I forgot about that, I just saw that. If you sign up for the class today, you get one month free in the room. If you want to join the room permanently, you sign up for the year, you get 30% off. If you want to go months a month, it's $400 a month after the class, Daniel. Dubaz just got another trade out of the Foot Locker. Oh, look at GE. Yeah, I think Foot Locker will be in play all day. However, I would wait now for later in the day, wait for a higher time frame, wait for the 15 minute, wait for the five, wait for a little bit, wait till 11 o'clock, wait till lunch. At this point now, this will close red today. This will not retrace itself. It won't close with a tail like the other one did the other day. Whatever the other piece of crap one was. This looks like it's gonna break 39. It might even try right now, but this is just gonna sell off. Oops, hold on. Listen, have a great day, everyone. I got the call. 10-14. I'm done with the trades anyways. We're good to go. Have a wonderful day. Those of you that emailed me, I'll call you or email you tomorrow. Watch me and yield to Voodoo four o'clock. Talk to you later. I'm gonna bring Melissa Armo into this and Jonathan Honeg on what the long-term in-cap could be because obviously the first thing you think of, and I'll begin with you, Jonathan, is that other industries take a look at the steel industry getting this support from the White House and then sort of the meat who is built up here. Now, Wall Street is the first to complain about that, but if memory serves you right, Wall Street was the beneficiary of a big federal grant, as it were, and a bailout of its own to the Meltdown and many other industries have experienced it, what is your sense of what this could lead to? Well, this is setting up exactly that slippery slope, Neil, of more companies, more industries going to the government with their handout demanding their piece of cronyism. You know, the Democrats, hey, they're cronyism with the salindron in the environment. This is the Republicans' version of cronyism, helping steel workers, helping the aluminum industry. I don't know, let's go back into the 70s. Maybe there's some Zenith television employees they would like their jobs protected, Neil. I mean, this war, this trade war has already begun, but it's a trade war against American citizens who just want to, oh, I don't know, buy something cheaper so they can save some money for their families. This is terrible. No Democrat could do this type of harm to the free economy that Donald Trump is doing, Neil. All right, I'm going to put you down as a maybe on this. Now, Melissa, I'm looking at all this and I'm wondering, I know market sphere of the unknown and how it spreads that. I understand also the prospect of inflation, obviously, if you're putting a tariff on a good, it makes that good more expensive and all of that, but I thought it was interesting this week that the Federal Reserve, Chairman Jerome Palad, had kind of expressed concerns about this, but kind of hoping that cooler heads would prevail. What do you think of that? Well, I think that the market really fell more on him talking, the Fed chair talking this week than it did on this tariff thing. I mean, you look at the chart, we rallied today. I don't know where we head next week. We definitely have to gap up Monday and follow if you're higher from the rally today, but I want to address Jonathan's point. We cannot survive or exist without the steel and aluminum industries. We need them. And right now, the U.S. is the largest importer of steel in the world. We can't survive without these industries. Why is that? Can I just question that premise? Why is that? Why can we not exist without a foreign steel? Well, we're not on a level playing field. Just like we exist without foreign television. But why is that industry protected? Why do they deserve government handouts, government cronies, and more than any other industry? Listen, Trump is trying to get ahead of having to bail them out, like we did bail out the banks, like we did bail out the auto industry, because we can't live without them. He doesn't want to have to bail them out like we bailed everybody else out. Can you just answer that question? Why is it that we cannot live, that Americans cannot live without a domestic producer of steel? You haven't answered that question? Neither has the president. Well, we can't because what if we would get in a war with North Korea? Where are we gonna get steel from China? That is a fear that's been raised, that it's almost been heightened to a national security concern. I understand that's coming, but Jonathan, your view is that once you make a carve-out for one industry, a mega-varados, you made the same. Of course, before for the banking industry, after the meltdown, you made the same for the housing and the mortgage industry, the auto industry. So you can make a compelling argument, but here's where I'll differentiate a little bit to her point, and that is that steel is sort of the bedrock. If everything hits the fan, and we don't have enough of it here, or where to disadvantage here, we're certainly not gonna be getting it from people who wish to sell, right? That's right. Neal, we have enough armaments, military armaments in this country to blow up North Korea or any other adversary by hundreds of times over. So that's a straw man. That's a red herring. That's not even worth addressing. What is worth addressing? But if we needed steel, and we're increasingly, I see your point, Jonathan, but if we needed steel, and we're increasingly relying on those from abroad, we would be at a disadvantage, at least in the beginning, right? If we needed steel, and, Neal, we would buy it. But what you're doing by justifying these, but, Neal, you know, you're sitting up this impossible situation of, what if a war breaks out? No, I just remember, I just remember what it was like after Pearl Harbor, right? Well, it's a longer discussion, Neal, to be honest, but I'll just put towards what you're offering as the remedy, central planning. So, we're in Russia, Venezuela, we're governing picking winners and losers. So you can spin a fantasy about what if this breaks out? What if that breaks out? We've worked with this. So, Melissa, are we doing it? Because we've done it before where we've had a perfectly justified reason to support or help an industry. I was looking back in history, and prior trade tips we've had, the steel industry has been back and forth to the White House numerous times, sometimes getting what they want, sometimes going back to John Kennedy, not getting what they want, when he slapped them down for a price increase. But is that a dangerous trend? Well, that's expected. Isn't that in and of itself a dangerous trend? I don't think it is because they need help. If you look at the charts, AKS Steel is worth five bucks. It used to be worth over $70, 11 years ago. X, United Steel, look at the chart, that's in a downtrend. These companies, we might end up bailing them out because we need them to have, we need that industry in the US. You can buy from, you can import. If need, if need is the only justification for government involvement in the economy, then that's it, Neil, that's it. That's an economic dictatorship. Let me switch gears very quickly, guys. Do you think this has damaging impact on the markets? Melissa, I mean, let's see how this proceeds. If it escalates into the trade war, will this hurt the markets and that it gets to be inflationary, it gets to be global friction? You know the drill, what do you think? I think the markets are strong. I think the markets gonna react to anything. It's gonna react to certain people talking. But not this, not this. Well, it's gonna react to this, it did. But whether it's gonna change the trend of the market, no. Jonathan. Well, you know, I don't know if Donald Trump has read a book, he's certainly not a read history book. He would know that those who are repeating it are going to repeat it once again. Neil, look up Herbert Hoover. He enacted these exact type of trade tariffs in 1930. He turned what could have been a mild recession into a decade-long Great Depression. We're headed on the same road. I remember talking to Hoover at the time and warned him about it. But thank you guys very, very much. Thanks. You know, there are young people in this room saying, Neil, talk to Herbert Hoover. All right, let me turn from the market storm to the real one.