 news update. Welcome cowboys and cowgirls. It's rodeo week here in Tucson, Arizona, and I got my original cowboy hat on here, folks. If anybody can guess what cowboy hats are made of, they get a big surprise. I was surprised when I first moved here to find out how cowboy hats were made. I thought they were made out of leather or buffalo, but a really good cowboy hat is made. No, no, no. Leather and suede is okay, but the good ones are made out of beaver pelts. So if you've got a beaver pelt, which would be either a Stetson or a Resistol, those are really expensive hats. They're all made by hand here in Tucson, and a regular cowboy hat here in Tucson would run you about $500. You can get them at Walmart in Cotton for about $29.95, and if you're a real cowboy, you got to have one that's a beaver pelt. And anyway, let's get on with the markets, folks. It's Red River City out there today. We got the stocks sharply lower, gold sharply lower, silver sharply lower, copper sharply lower. About the only thing up today is the meats, buffalo, bison, and cattle are up a little bit. Hogs are basically, I think they were unchanged a little bit, too. Soybeans are down. A few of the others are just having a really red day across the board. Started out and looked like it was going to be a pretty good day. And then it rolled over and it was out of whack right away. I haven't posted a chart yet because I was waiting. I wanted to talk about one particular market because I think it's something that we really need to be watching today. And that is the cattle market. Since it's Rodeo week here, we're going to look at live cattle. This is the kind of pattern that you're looking for for a reversal. You'll notice here we've been going up for well over six and a half, seven months. We have a three drive to a top pattern, a 1.618 expansion, all the things that makes your little skin go quizzy. And that's what you have to look for when you're watching some of these patterns. It's about how much money you risk. If you get above 1.67 something wrong, the high today was 1.6610. And that's what we're looking at today, folks. So keep that in mind. Take a little break here. We're going to see what's going to happen in the markets. We've got some good information for you. So stay tuned. Our guest at the break will be Mike Moore of Moore Analytics. His specialty happens to be the coil, the crude oil complex. We'll be right back, folks. May God bless.