 The following is a presentation of TFNN the TFNN Bull Bear trading hour every trading day live at 10 a.m. Eastern call now toll-free at 877-927-6648 or internationally at 727-873-7618 the TFNN Bull Bear trading hour now Tommy and Tommy O'Brien welcome folks appreciate your growl and a problem with us we have the Dow Industries down 152 you get the Nasdaq off 30 S&P's down eight and a half gold contract up $8.50 trading at 1304 an ounce you get silver up 11 cents $15.20 an ounce light sweet crew up 78 cents $63.85 a barrel that thing is pushing higher it sure is man $64 we just missed it by a penny a few minutes ago yeah notes and bonds you get the 10-year note down one tick 123 18 30 year down six 147 24 they both continue to reject lower price folks so went to they went down last week bottom line Friday rejected lower price had a lot of volume went back into the strength we'll see what they can do now King dollar King dollar down 382 ticks still no sellers we pull this up this is like a pretty amazing actually because when we take a look at this folks what you're gonna see is that you get at highs you have what we've had no sellers all buyers okay but the bottom line is you're at higher price and you can see it's like okay so you're March 7th high I can't do the volume Nick as we were on a different contract okay but that's 97 16 you can see last week we we got to 97 you had 13,000 contracts yeah about 14 yeah then we come down with 12,000 yeah we try to get higher with 10,000 and today you get seven so bottom line is that you know the bulls would be as it's still fighting but to get lower price you need a lot more volume 7,000 is nothing that means it's gonna do like 15,000 out here today euro euros trading out at 112 70 you get the yen at 111 and 38 the pound is at 130 52 so another week first time we've had red in a bit yeah starting it off on negative tone yeah got a couple things going on in terms of uh as I said in the update right you got Bowen pulling back on some harsh news some downgrades GE pulling back on some downgrade yeah but Bowen's got a good gap down I mean the news talking about six to nine months potentially versus two weeks right quite a shift huge yeah and that seems to make a lot more sense in terms of the regulators getting back involved pretty heavily going over everything again so if they put those planes back in the sky in two weeks myself right exactly so how does that make any sense so maybe in nine months after testing testing testing people might feel okay feel a little bit right a little bit yeah so we'll see GE GE just continues to have accounting problems okay what this is about folks is that now GE had already disclosed that they knew they were gonna get fined on this but the bottom line is that they basically weren't clean on what happens when you're in the European countries have a whole different set of regulations when you're doing a merger and one of the biggest ones of this is how many jobs are going to be lost are not lost right and GE just continues to basically in this particular case they got fined 58 million and they got fined because of the aspect of how they felt and what they were going to do after they took over this when energy component maker bottom line is it they they are all strong deal which is the largest which is one of the largest oil companies they took over in France right bottom line is at the same thing they claim that all these people are still going to work there and bottom line they didn't can we go back to the news to them because I know there's a big analyst of JP Morgan that also came in with a downgrade yes he did that was I think a bigger factor in what's going on today in that stock versus just a 58 million dollar fine the bear is back so Steve Tusa I guess he's made quite a name for himself somehow so yeah he was ahead of it I guess when they really hit some tough times and renewed his call to sell with the downgrade to underweight and there you go investors are underestimating the severity of the challenges and underlying risks while overestimating the value of small positives yeah they they have a lot of legacy issues they have still more accounting issues in an intense way let's get over to the gold contract we take a look at gold so last week in the gold contract bottom line is that you've rejected lower price you went right back into the strength that was developed out there January 25th and we get traction out here today so it's going to be interesting watching this whole thing set up you know we did have last week even in spite of gold pulling back the XAU the HUI they they held pretty good so you get the GDX at 2269 and for you folks that are in this market now this is what you want to watch because this is pretty amazing how this is set up so the XAU as well as the HUI they had a huge side of strength last Thursday okay and that's that's with when gold was still down the doll is still at highs right but you had big buy and coming in now when you put this on a weekly this very well could be a large ABC structure on the way up and I suspect we're gonna be gunning for this swing high I should pick we're actually gunning for it this week which is and the XAU is 80.76 and if it is an ABC up they're monsters you know the the B point would be 87.6 your A point is 61 you know 61.35 you know so you're talking about what $19 which would get you up into the 90 level and 92 is the highs that we generated out here on the in January of 2018 and the gold bugs index is set up the exact same way so it's gonna be intriguing watching this whole thing shake out you know gold bugs is at 172 you take this and you can see you know I mean for the amount of volatility that we had we're going from 1365 down to I'll get the number but I forgot what the low was last week but you can see when you look at this on a weekly basis doesn't even you know it looks like it's been a sideways move so you didn't have a big retracement we're looking at the gold bugs index now folks and this also is a huge A to B your B point is 180 and your A is 131 yeah you know and in that case was at 50 49 right yeah brings you up to 210 and 220 so yeah 220 is the high of September 2017 yeah yeah so it's gonna be pretty while watching this whole thing shake out and of course yeah one of the targets saying this is a big deal if you are inside the gold market is that what has happened is that let me see if I can get the story because it's a good story it's a that China has been buying gold hand over fist and disclosing it top one yeah I go okay so you get let's see gold head is the biggest game in a month I've been trying to steady pace of bullion purchases okay China expand its gold reserves for the fourth month rear portion speculation the central banks will continue to build holdings I'm looking for the exact yeah they had they have the exact number and it's a big number folks okay and it's been a big number every month and a last time that this actually happened is the last big run that we had in gold was just 2016 so they're saying that then they boosted reserves by 11.2 million tons in March to 60.2 million tons of gold yeah that's why I just hit something maybe that's there yeah that's why I just we got a bottom line is that that's what it takes to it takes physical buy-in inside the marketplace to get it at higher price down industrials down 140 Nasdaq off 26 S&P's off 7 and a half stay right there folks Tommy and I come right back the Taz profile scanner is the most revolutionary piece of trading software that you will ever try wouldn't you like to approach the markets with confidence as you begin your trading day it's likely that you'll be faced with lots of decisions in order to make the best decision the first thing you'll need is a strategy that will help you minimize your risks whether we're in a bull or bear market a good strategy is to have the tools needed to help you scan and analyze the 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jumping around to different points in there that's according to the World Gold Council this has been yeah China and Russia to the world's largest purchasers yeah Russia the buying is part of an attempt by Putin to move away from the dollar dependence and China they get some weak dollar action in there they're talking about I know you know it's so funny is that sometimes what happens in this article says it says the weaker dollar supporting Chinese demand but the dollar's at highs folks that's what's sometimes when you read this it's like okay so how do you get that one in there yeah I mean but that it is what it is you know but if you're in the metals market folks this is a good thing that's what you want you you want buying versus selling that's what it comes down to what I don't quite understand sometimes is that why they even disclose it all do you know what I mean yeah I mean this is just from their their website in terms of the central bank yeah and I think with that weaker dollar they're just talking about that shift from Powell in the last three or four months in particular as that's pulled back on the shift in rates right lower rates you're not going to go into getting those interest rates as much if you're getting lower rates so that might cause a shift to the gold it is the point no that's a good dollar still at highs I mean that you know that's you know but there's no doubt that if you the lower this the argument 20 years ago was always you don't want to own gold because it doesn't pay interest well yeah 20 years ago was the interest rate though right as it was huge that's the point that's my point yeah you know I mean but you know the reality is is that arguments always shift that's what it seems like you know what I'm saying because that route half the I mean there's trillions of dollars in negative interest rates right now so you know it would be like okay then why isn't gold higher you know I'm my take is we're going higher but it's interesting how that whole dynamic plays out because we've been in a low interest rate environment for a long period of time yeah yeah 8779276648 we take a look at some of the higher volume equities out here today we'll see whether we're gonna get the volume in this market you get GE that's not 65 cents that's the highest volume out here today you got Rocco is down the two bucks that's been getting hit Rocco yeah so that's not bad no so that was at all-time highs only about three weeks ago at 74 bucks is that all-time highs 77 dollars okay you got we still in the United States yeah you get let's see so oh bowling's the big one bowling's 14 bucks that's yeah that's that's getting nailed man that's definitely getting nailed and of course all you have to do is look inside the Dow industrials to find out what is pulling that baby down and we know it's gonna be Boeing there you go out of 111 points but Boeing's 98 negative look at that yeah you get proctor game of putting six positive Home Depot six Dow depart six Exxon 4 we do go over to that oil market this little market still looks like it's wants to go higher which is pretty wild you got we we hit 64 even today okay and it really you know it's it got over you know we traded at this level five days four days last excuse me you know let's it jumped up another level so it's like you know it's like 65 looks to me like game man man you get 419,000 contracts now that is light contract volume for this time of the day you know because oil what happens in the oil market is that seems like this contract volume comes in really early in the oil market okay so we'll see where that shakes out but and that's gonna be there's a lot of different moving parts on this one but over in Libya there where is the Libya deal this is really intriguing I was reading this this month so here it is here so Libya you know you got one of the warlords that are basically looking to go take over Tripoli and the thing that's amazing okay so this was where Gaddafi was we took Gaddafi out right they've been in the Civil War since then the thing that's crazy though I was reading this is that that the warlord right is an American citizen okay yeah it's like you know Pompey is telling him hey you better stay out of Tripoli but this is what's pushing oil this morning that's what that's what's going on here also oil production facilities not immediately at risk from the conflict the country's biggest oil affairs 700 kilometers south of Tripoli and most of the other five of the east but it's like these countries man it's like it was political turmoil yeah definitely Libya's that's the city any loss of Libya oil supplies will add to the tightness global markets you know because Libya is a big big supplier man I don't know who gets all the money but yeah you know so they're fighting over those warlords yeah big time right big time middle of a desert big tub of oil who's gonna get it that's right 877-927-6648 if we go over we take a look at those notes and bonds bottom line is that they're hanging tough you know they're still not a higher range the higher range being anything really above 120 3010 we got to down to 120 308 Friday rejected it and you're gonna see that it had lighter volume than the breakout area you know they got you going into look at that 2.5 million he did 1.3 now bottom line was that we'll see this baby wants to go or 2.5 right now on your tenure okay yeah and then we're gonna be into earnings before we know it right yeah Friday it starts out of the banks oh really yeah JP Morgan I believe so so let's take a look it's not a bad setup so JP Morgan is just the sideways move out here yeah that's all you go Friday yeah so banks will kick it off we'll see how this whole thing shakes out you get it's trying to get into those highs of 108 you're at 105 40 right now this consolidation has been out there since what December yeah we came down it's quite a move down in December and then you got so we had that and you know we Jim had the final four of the men's and we had the final four of the ones I know I didn't realize that last week I realized over the weekend yeah they played out the finals last night and the Baylor got it done yeah one point was that okay one point oh my god these basketball games are so close that might be just like one point yeah and I don't know if you saw the some of the semifinal games for the men on Saturday but man they were amazing competitions Virginia versus Auburn was just an incredible finish yeah back and forth back oh yeah we can tell you yeah the one player hit a three pointer like six seconds left and then somehow they add the ball back with a second and a half and he got fouled so we got to shoot three free throws and won it by a point and then of course they didn't like that foul there were a couple of calls but nonetheless they're the finals stay ready folks tell me I can't go back hi folks Tom O'Brien here if you'd like to get my daily newsletter of market insights then now is a great time to sign up for a 30 day free trial every morning by 9 30 I send up my morning letter to subscribers with market commentary on a variety of markets currencies and commodities to keep investors up-to-date on the day's trading action included in market insights are specific buy-and-sell recommendations for stocks ETFs and even options which stops and price targets included for every trade in my newsletter if you'd like to try my newsletter risk free for 30 days then head over to the front page of TFNN and you'll find market insights under trading newsletters I use my years of trading experience to bisect and dissect the market every morning and give my subscribers the most important information they need to know for the day ahead I even issue afternoon updates for my subscribers whenever warranted with important market action I'm always scouring the market for the next great trading opportunity sign up for your 30 day free trial to my daily newsletter market 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again so you got Boeing down as they're saying today 4.3% as much and you have a number of different analysts here talking about what their take is in terms of the confidence of factors driving the cut in production nothing good yeah so they're gonna go from what 52 planes per month to 42 but 42 still might be too many sure right I mean the bottom line is they got to be operational planes no matter what which is I think the real so they remain patient talking about the analyst expects them to rebound I mean no matter what right if Boeing's the only competitor to Airbus it's only a matter of time before rebounds which is pretty intense but regardless we believe that with the primary cause essentially identified in a software fix set to be submitted over the coming weeks regularized maybe maybe in a position to certify it in late Q9 second quarter this year or third quarter and they have a number of different takes but nonetheless yeah cut in production and just saying that you know one analyst and production cut makes sense and should help resolve the crisis but at the price of a sizable albeit still hard to quantify financial penalty penalty yeah they're only making 52 planes and I make 42 and that's a big number 19% let alone everything else they're dealing with on top of things what are they gonna do with all these planes people take the liver yeah I mean you've heard very skeptical in terms of Ethiopian air right might not take delivery or cancel some bids but they still have like a five to six year wait on these planes so there's really no threat of that yet until you see somebody like a Southwest or an American kind of the workhorse of that deal ordering hundreds of planes that if they start to Bok then then watch out for sure but that not not likely just yet no doubt so let's go take a look at one of the targets when it looks at the palladium as well as the platinum market now palladium you know bottom lines that I wouldn't be biting on that at all this has been you know the extraordinary run beyond belief I mean you know we just came down from 1600 and if we pull this back what you're gonna see let me get the generic one generic one what you're gonna see this has been you know an extraordinary run and you know bottom line you make an extraordinary run and if you just go with Fibonacci bottom lines that you have a big pullback sure you know so look at that's August of 2018 palladium was at $815 if you happen to watch on target TV folks and doubled right yes it not only doubled but you never got a pullback yeah you know so 815 which the high you just pull up call it 1615 there you go okay so in that case you know I think the question is is that does do you think platinum and palladium have some room to the upside I wouldn't touch that but I would when you go it's a platinum I'd still wait for a pullback because platinum also had a now the difference is platinum's coming off lows what strength I think that yeah it's the top one to work or you yeah I'll give the June one so the active contract so July yeah so you can see you know we just had an extraordinary move here you know finally yeah and platinum you know if we go back to February your 786 year at 918 yeah now once that launch that you know was it 888 and then take the bottom yeah it's a hundred bucks so it's to me this is wants to go to 988 okay and all they've done is take the top of the consolidation take the bottom at a hundred bucks because that's what that was so it's like okay and if we go PL1 we do get this the PL1s generic yeah so if we take a look at this generic one you know this has been the dead dog inside these metal markets you know and you finally launched consolidation so looks like a thousand dollars a game and if you want to see something you know this is really cool folks so check this out you can go to well I'm gonna go to I know a market first because what I start when I was doing the gold report this morning the the metals the base metals in general are running really well and that's a big deal this is I and all you know in I and all five months ago was at 450 44 but dolls a ton yeah you're 712 yeah that's a monster move definitely we take a look at the copper market and it looks to me like copper wants to make a run for 330 it's gonna take out three first but let me get the copper flyer H Hg1 and you see how this is set up and this is when you can get true runs in the commodity market in general and oil of course is already running you can see you know we've been going sideways here and if the next leg up get you up to 331 yeah so we'll see how this shakes out but when stop putting it all together it's like okay so the commodity complex in general is running yeah and if that's the case that would be saying let's go to China for a second because China still runs the commodity markets man I mean you know when I say run the meaning that there's they're growing so exponentially still you know like growing an economy you know by 6% you know these two is still a big number definitely you know and you can look at the Shanghai Shanghai you know three months ago it's trade at 2440 you're 3244 yeah quite a run you know so stop putting that all together and they're using and when they when they come in the market man they just come in the market buy buy buy buy buy and then when they stop you know you don't want to be in that market oh right for sure I just wanted to see as so G still down like 6.5% Boeing as the dollars getting yeah a little bit of so it was 373 pre market still on three and the VIX had a little bit of a spike but yeah pulling back a bit 1375 1350 yeah and if that's good let's go over to the palm let's say I mean this is almost like sideways move nothing's happening over there buck 30 the euro no that's the euro saved itself again that's good that's good news so the euro actually saved itself again that's interesting that the dollars down 350 ticks but this euro doesn't looks like this when jumps off the cliff at 112 16 it comes right back now I really like see this last week that's a that's a nice test of a big bar because the big bar that we had on March 7th was tested in the big bar that we had on November 12th this one here is almost saying okay there's no more sellers down here and you know we'll see what it gets and follow through and Theresa May who knows where that's gonna happen you know where's that gonna go hey and what I mean that we're gonna have some action I think starting tomorrow over there because the deadline right now is Friday the 12th oh my god that's what yeah I mean so I think that tomorrow I heard something maybe more votes or something going on but nonetheless the 12th is the deadline so we get some action there folks from that come right back down this goes down 99 that's like a 12 this piece of three and a half coming back if you're in the CD market and looking for a secure investment the Tiger first mortgage program may work for you the 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corporate demand for shares have far exceeded demand from all other investment categories combined net buybacks average 420 billion annually while demand from households mutual funds pension funds for our investors with less than 10 billion that's just yeah so they might have combined equal more but yeah 10 for each category man and there's not that many categories and so what they're talking about you know and this in terms of so Goldman Sachs strategist David Causton started assessing it so what he's saying the importance of buybacks as a source of equity demand right increases now given that equity exposure among a bit major investors is already high as in everybody's already invested right right so aggregate everyone's in who you're gonna sell to right that's aggregate equity allocation told us 44% across households mutual funds pension funds and foreign investors and that ranks in the 86th percentile past 30 years yeah repurchases have consistently been the largest source of US equity demand the strategist wrote in the note Friday without company buybacks demand for more shares are gonna fall would fall dramatically now that can be true but that doesn't necessarily mean that buybacks are a good thing for the economy that's the thing that right to separate here completely of course you know taking company profits and plowing it right back into not capital investment but just giving it to the shareholders gonna be an instant boost but that could have some long-term potentially harmful effects when you know no capital expenditures are being done right because it goes into dividends versus capital expenditures exactly yeah you know company growth right exactly you know Steve Jobs was notorious and saying no dividends because guess what we should be able to grow that money faster than just a dividend rate now when they started accruing 200 300 billion dollars versus cash that change slightly but the general consensus you know other potential impact from prohibiting buybacks talking about slower earnings per share growth well yeah you know in terms of there's gonna be buybacks decrease the amount of shares so it's you know automatically the same amount of earnings grow earnings per share when you cut the amount of shares during the past 15 years the gap between earnings per share growth and earnings growth for the median S&P 500 company average 260 basis points wider trading ranges a wider distribution of individual stock returns and higher volatility they're stressing so during the past 25 years return dispersion and volatility during blackout windows have been higher compared with non blackout periods and PTP multiple contract contraction the number that headline numbers a big one man that's a big one that's a big one yeah yeah wow for sure and then we're gonna we're switching gears on you're gonna go from there to Mick Jagger folks so this is so Mick Jagger just had a hot yeah procedure valve maker so let's see this is a med-take companies help pioneer and produce the yeah aortic valve replacement so he had a valve replaced so and his life sciences medtronic makes you a boost and demand awareness after the 75 year old took to Twitter thanking the doctors one of the analysts was saying that was foggy that's truth I mean this is no doubt or any time you have a celebrity that puts awareness on anything to do with health right now something that so Jagger's procedure will likely raise awareness of aortic stenosis and potentially to more of these procedures which should benefit the manufacturers yeah when celebrities like Jagger undergo a surgical procedure tends to shine a light on the underlying disease and raise awareness of the procedure itself because the publicity it generates that makes sense of course yeah look at this this is so this procedure or this valve is 61% of Edwards life scientists will pull that up okay that looks like pretty intense yeah so Goldman Sachs wrote in a research note last month that expects the worldwide opportunity to top 10 billion in revenue by 2025 so Edwards and medtronic presented results from a pair of heart valve study showcasing their less invasive valves as superior and equivalent to open-heart surgery garnering praise from Wall Street sell side analysts applaud the results that raised the competitive bar these devices have already shattered many treatment paradigms and we expect them to continue the impact of our heart valve diseases treated in the future yeah because it has to do the invasiveness is the big thing because I mean if they don't have to crack your whole chest open to get these things in here is a sure and interesting here while Edwards and medtronic are viewed as the key players in the space heavy weights like Abbott labs and Boston scientific also make the devices so watch out for those two coming up if they're in that same business and that starts to yeah it's and then they talk about that the Rolling Stones had to suspend it due to Jagger's health and then he had to have heart surgery so let's say Edwin E.D. there we go okay Edward life science EW EW so you're 187 that's quite a shot sure it's so he just brought you know this this 2013 folks it's a 32 you're 187 and so 60% of their revenue is in that valve look at that okay so 2.5 billion 2015 4.2 billion this year and there's the breakdowns right yeah yeah and bringing it back to even just 2018 because that's what they have down here so you had two point excuse me 3.8 billion total and it looks like those valves doing about 2.3 at least but then maybe the therapy is what combines in there to be 3 billion out of the 3.8 right and really so yeah that's even more when you look at the 2.3 probably in the 60 but then therapy look at that was growing yeah right huge and then ABT let's go to Abbott let's take a look at Abbott so low 56 the highs 80 worth 78 so that's trading at highs also yeah it's trading at highs let's see their breakdown whoo they're taking a lot of money now it was Edwards though and it was another one Abbott was the the secondary yeah Abbott was one coming up yes yeah that's I just want to see it you know but you get a company that's coming up that they taking a lot of money oh for sure that's I mean they're they're three times the size of Edwards and just in terms of market cap yeah yeah and then it was Boston scientific that's as that BSX that's a 3790 highs 41 for the last 12 months that's these are all good-looking charts man they're all right up there man they take in about 10 billion yeah and there go Carter vaster vascular group which is you know 6.8 billion you know I wonder how I guess it's the salesman that turn around into the doctors into the hospitals to sell them right because if you have four of the business which one you want to use yeah that's those medical device reps I mean medical sales reps across the board for sure huge business we have the Dow industries right now down 106 you get the Nasdaq off 12 SAPs are down 4 we go into the NDX 100 and take a look at the NDX winners out here you get Samantha cup seven and a half percent wins up to buy dues up one take it away from it Regeneron is down 2.3 you get Dollar Tree off 2.2 Henry shine is down to stare at their folks Tommy and I come right back I'm certain you are or strive to be one of the best of the best at everything you do in life it's the most common trade that we tigers and tigers is share if you're looking to become the best of the best when it comes to managing your money let me teach you to do what most wealth managers tell you can't be done which is how to time the markets I'm Steve Rhodes author of mastering probability and for the last 12 months timer digest has been tracking my newsletter signals which have earned me the ranking as their number one market timer in the nation for the S&P 500 for the last 12 6 and 3 months timer digest also ranks me as the number one market timer for gold as well the fact is markets can be 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market day with his opening call newsletter right now you can get a two week free trial to the opening call Basil's daily trading newsletter by visiting the front page of tfn.com cancel at any time during that trial and pay absolutely nothing get your two week free trial to Basil's newsletter the opening call today by visiting tfn.com this segment is brought to you by think or swim for more information just click the think or swim banner on the front page of tfn.com Welcome back folks so we got lift out of the gate the banking structure got out of the gate last week or the week before it looks like Pinterest is going to be next out of the gate what's intriguing here though is that they're seeking 1.28 billion but that is quite a bit below their 2017 valuation as a private company yeah so if they come in at the upper range that they plan to go public raising that 1.28 billion that'll put the company with the valuation of nine billion dollars the last private funding round 2017 they raised 150 million at a valuation of 12.3 so you're talking about more than a 25% haircut quite a number man for sure I wonder who is the 150 right but nonetheless the numbers that support it man pretty staggering printers earlier revealed 756 million in revenue from online advertisements in 2018 a 60% growth rate that accelerated from 2017 and its net loss shrinking to 63 million in 2018 from 130 in 2017 265 million people use the digital scrap book at least once a month I wonder what that daily number gets down to they don't have to release anything really right but I mean that loss basically nothing if the company's worth nine billion dollars that's almost a decimal point and if they're growing they could do that one more time exactly they have almost a billion dollars in revenue not almost but they do it again they'll have a billion this year and marginally losing money and they're about to get an influx of cash of 1.2 billion dollars so yeah and what happens folks in a valuation like this not all the time but the bigger makers the bigger players very well they have to rebase their valuation that they put in 150 million sure you're explaining if they go public at a lower valuation they might get a discount but doesn't mean it happened interesting to see who that 150 was exactly there folks we get fast market coming up next with TD Ameritrade and of course we got our man Bowser Chapman Steve Rhodes statewide back this afternoon thanks man well I'll get them folks