 Teddi Keckstad online. Teddi, are you there? I am Basil. You're coming in totally clear. Fantastic. It's so good to speak about, first of all, not just a bravo, but a huge congratulations on a call that started, I think, a year ago, wasn't it? It was right around the first week of the year last year, yeah. Absolutely. Fantastic call about Crude Oil going to at least a hundred bucks. Wow. All right. I'd love for you to tell you. Well, first of all, tell us what you've subscribed for, for people listening. Could you just tell us what you do and then just fire away? I'd love to hear what you've got to say. Well, I trade predominantly currencies and futures. I would I've been in the trading business now for this June. It'll be 33 years. So trading for 32 years. So that's how long I've been in the business. So I think I was looking at the chat room. Some of the people had some interesting comments about Crude Oil knowing that I was coming up for this segment. And there was a comment about the rollover, which is something that absolutely today's sell off. I would be very leery of thinking that this is going to be a correction, especially because if we are now stopping buying Russian oil, that means we now have to get it from somewhere else. Venezuela, I think, is not the right option, but that's a whole other topic. So but yeah, the rollover is a big deal. And also we have a simultaneous financial rollover going as well. So for those that aren't that familiar with futures and how that works, you have the front month contract that's coming to an end in all these in all the financial markets, as well as oil over the next couple of weeks. So that means there's a lot of rotation in the spreads. So you have people who are either outright long those markets that are selling and then rolling and then buying the next month out or a couple of months out, as well as you also have spread traders where they are for potentially long right now. The front month and oil short the back month. So now they would be flipping those months, meaning reversing out and like canceling the front month and then, you know, I'm reversing the next month and then rolling into it further a month out. So yeah, the rollover is something I think you need to take into account when it comes to oil. So and lastly, I think remember I was talking with Tommy over the past couple of weeks that 150 would be a longer term timeline. Now, originally I thought that once we hit this 100 to 110 a barrel that we would have a slowdown, you know, in demand, you know, the only thing is this pricing is rocketing so fast that we don't have a chance for the consumer to slow the oil pricing down. So it's very scary. And I think the 150 is going to come a lot faster than originally was expected by me. So I just have a question for you. I've got a chart up here. It's the monthly chart. Now, I always talk about the continuous contract being smoothed out. That's why the prices that I have at one point is completely different to what could be in the current current moment. So but the price, the charts never change. Nothing changes except that the price gets smoothed out. So we've got July of 2008. Russia invades Georgia 1st of August to the 12th of August. That's a 12 day. But the month before we had already started turning down in July. So and that was something completely different. That was really quick. It was kind of isolated. And we dropped to the February of 2009 really sharply. So it was just a straight line down. This, do you see this as different in what you're saying right now? Correct? Right, because see back then in 2008, I mean, I remember that vividly and now we're actually having because of the increased taxes on nationally in different spots like in Chicago, Illinois, I'm in one of the heaviest tax states, especially when it comes to gas. We're now paying more than we did in 2008 in a lot of areas. You know, so now when 2008 hit, that was when pricing actually started to impact thing. People started making different decisions. We had a deflationary environment. So it wasn't that people were one making a choice between what am I going to buy at the grocery store? Or am I buying gas to go to work? It was just a matter of people were not didn't want to spend that money because they were afraid of inflation coming in. You know, so then people started going out less because they started traveling less. In this case, we don't have that option right now. You know, we're coming back from all these lockdowns. So we have demand coming in that is not pent up. It's a necessity. People are going back to work. You know, so it's going to be hard to say tell people, well, because of gas prices, we'll just go back to working from home. You know, especially because it's impacting, you know, all these other things. You got to remember in 2008 gas prices were not it was not impacting the prices of things in the grocery store. You know, so we also didn't have supply chain issues. So this is this is a completely different environment. And having this this conflict in Ukraine doesn't make it any easier either. So I think that now markets go out like they come in. It's not out of the realm of possibility for us to come off this, you know, brand new high correct $15 and then rock it right back up. You know, so the volatility factor is going to be it's going to be very ugly for a while. So I don't want to deflect from anything else that you wanted to discuss. But within this context, what you're saying, the entire environment is completely different. And we've got to treat it with the respect it deserves. So there's a tremendous support level and crude oil. I've had a number of people saying, where would you re-enter if you took profits, etc. And the same thing in gold. I don't what else would you like to discuss? Well, the currencies. So I'm still a bull for the US dollar yen, especially with this oil pricing. I'm really surprised the US dollar yen has not broken out to the upside recently and challenged the highs that have been in place for the past couple of months. You know, the US dollar Swiss is a very choppy choppy trade. Now, I think as of the close today, we the dollar, you know, you have to look at what happened with the Treasury bonds. The 30 year bond had a huge rally over the past week and a half. OK, so that's a corrective move to the upside. We know the Fed is going to raise rates most likely next week. So this was a rally to sell. So they've put a little little bit of hurt on the US dollar. But I would expect if you see the 30 year and the 10 year continue to trend lower over the next couple of days into the end of the week towards next week's Fed meeting that you will see strength in the dollar. Now, it's going to be there's division here. OK, so I think you'll see strength in the dollar yen. You know, you might see a little strength in the dollar Canada. The euro US dollar, I think, is on a profit taking rally. It's only a corrective bounce right now, especially with oil being strong and what's going on between the Ukraine and Russia. The euro is not going to be supported very well. I mean, if you look at how much it's moved in just the past three weeks, you know, the market went from 115 down to basically 108. That's a huge range for the euro US dollar, considering that most of the trading beforehand, it was staying within like a three four dollar range, you know. So there's a lot of volatility. So the euro dollar very much like bonds has a low in this case. It has a low in the month of March of 2020. It had a rally up and now it's made the pattern that I call the lower case H. In other words, it's an arch formation making that support really important for the euro dollar. And if you're looking at the continuous contract of bonds, it has exactly the same thing. I believe it was also March. It was, yeah, March of 2021. It's the same arch formation. So if either one of them takes out the previous lows, that could that could harm at least point to even higher yields in this particular case. Well, the way I see it is if this incursion continues, which nothing with Russia ever ends quickly, you're going to see the euro may be pushing parity with the dollar with over the next couple of months. So that bear is here to stay. Wow. So I want to thank you very much for coming on. You probably had a lot more to talk about. But thank you very much. It is always great and congratulations. Fantastic.