What Market History Tells Us About Bad Breaks; Airbnb, Crocs, JFrog In Focus — Stock Market Today

[00:00:00] Speaker ?: *music* [00:00:30] Speaker 1: Good afternoon, everyone, and welcome to Stock Market Today for Friday, November 6th. I had to double check the date. It's been a time warp of a week, Webby. Great to see you. [00:00:44] Webby: Yes, it has. It's been like a year and a week. [00:00:47] Speaker 1: We've all aged a year in the past couple of trading days, but we've got a lot to dig into. We're going to be taking a look at some historical precedents. Webby, I feel like it's been a minute since you and I together on this Friday. [00:01:03] Webby: Dude, we did it last week. I feel so forgettable. [00:01:06] Speaker 1: No, I'm saying since we've done this whole big batch of precedents. Oh, yes. It's been months, I think. Yeah. So it'll be good to do that and no better week to do that and to provide IBD's perspective on the market environment amid the volatility, the jolts, the sell off, the shellacking, whatever you want to call it. So we'll be taking a look at the major indexes and diving into some historical precedents. We'll also be looking at a couple of stocks that are holding up amid the current carnage. And we'll also, of course, as always, go to Webby's charts and get that mosaic of the market. And how concerned should we be at this point? Well, we'll hope to. [00:01:57] Webby: You got it. You got to watch the whole thing and you got to watch the Chloe update to really know what's going on in this world. [00:02:03] Speaker 1: Exactly. There you go. We've got the cliffhanger for the end there. But we'll be answering investor questions, I hope, through our analysis throughout the video. So looking forward to diving into all of that with you. Let's go ahead and get started. I'm going to share my screen and take a look at the NASDAQ composite. So even though we did get a bounce on Friday, just a terrible decline on Thursday and a brutal week, Friday's gain about 1.1%. But for the week, the NASDAQ was down 3.4%. Meanwhile, the S&P 500, we can go there. A feeble bounce today. I'd say Webby with SPY up 0.3% and the Thursday bar on so many of these charts. And I'm actually going to change scaling to auto fit on the weekly, but you can just see the decline there. 2.7% on the week, still above the 40-week moving average at 200-day, which I know you will get into. Blue chips down 0.5% on the day, and what whiplash in this area of the market from Wednesday to Friday. And same for RSP, right? I know we all were very encouraged about the progress that we saw close to highs earlier this week, but a definite character change there as well. So Webby, your thoughts on the market as it stands now. Heading into this election week, we were teetering on the NASDAQ, and now it seems- [00:03:46] Webby: Everything for me is about the 200-day. Normally, we don't talk about it because normally it's not in play. It's in play now. There's a little bit of background on the 200-day. There's technicians like us, like Allie and myself and everybody at the firm. And then there are fundamentalists out there and everything in between. And we blend both fundamentals and technicals at IBD, which is unique. A lot of the world still just looks at fundamentals. Back in the day, charts were like a no-no. It was almost like looking at the stars or tea leaves or something like that. Over the decades, it's changed where most people use charts. But the pure fundamentalists, they will own up to the fact that they don't look at charts, but they will know where the 200-day is. Everyone looks at the 200-day to a lesser extent, the 50-day than a subset of us use things like the 21-day or your favorite other moving average. But the 50 and the 200 are the most important, 200 being by far the most important. So when you're above the 200-day, things are good. You want to lean bullish. When you're underneath the 200-day, that's when really bad things can happen. What we have to do is let's, in fact, go out to the weekly chart so we can see more time on there. And the 200-day coincides with the 40-week, which is your black line on there. And you can just see when you get underneath there, really, really bad things happen because no one is comfortable with the current price. No one knows what the price is. So you get a lot of price discovery, meaning lots of volatility, big up days, huge down days. I mean, that's where you're going to see your biggest up days. You're going to be during one of those declines as well as the biggest down days because the market doesn't know what to do until really gets back into a healthy place. It's kind of like the weather. It's like, you know, when you're underneath the 200-day or the 40-week line, the clouds are out. It's horrible. And when you're above it, the sun is out. You know, for the most part, that's how I like to look at things. Let's just kind of scroll through time on here just slowly. And I want people to focus their eyes on that black line and what happens once you go underneath it and the character change. It's the biggest character change that you'll see. And there is that COVID bear market. We're going to talk about some of these in a little bit in some more detail on a daily. But let's just keep on scrolling, going backwards some more. Go backwards. Yeah. [00:06:30] Speaker 1: Yeah. [00:06:31] Webby: Yeah. And again, they're in 18. We'll circle back to that in a little bit. Once you break it, you know, it just gets really ugly. And then the 2015 is the other time frame. We just wanted to show you first on the weekly to kind of get an idea of some of the dailies that we're going to be looking at in just a little bit. Now, there are times where you come down to the 200 day and you bounce back quickly, but you it has to actually bounce back quickly. Let's go to the current bar on the daily and just kind of focus back there for a second. And then we're going to go back in time and look at those dates that I gave that I gave you. So here it is on the weekly currently. Now on our daily, we slight and let's zoom way in. Thank you so much. So yesterday was a huge negative day. I mean, it's one of those just there was no lift in the market. To me, it felt like a forced liquidation, like funds were we're just having to sell. It wasn't like anyone wanted to sell at the prices that they were getting. But sometimes you have to sell for margin calls or other reasons, typically margin calls. So it was just relentless. Today did not help. Today was actually worse. And I'll show why. Let's jump over to spy for one second. So we had said before, and I think last week that if NASDAQ took out its 200 day, that it was going to be very bad for spy because then it was going to push it into a position to have to test its 200 day. And spy is more important than NASDAQ. And spy is more important than NASDAQ. We look at NASDAQ. We focus on NASDAQ. The rest of the world focuses on on spy and to a lesser degree on NASDAQ. Growth traders look at NASDAQ, but everyone looks at spy. So once that started breaking because there's so much overlap between the positions of NASDAQ and spy, it put it in that weak place where it became a complete magnet to the 200 day. Think of it in these terms, you've got bulls and bears out there. The bears know that if you can, if they can break this market underneath the 200 day, they're going to have their day in the sun because they like to play underneath the 200 day and they can really break individual stocks wide open in that type of environment. So we saw that magnet down to the 200 day yesterday. I was hoping for a gap down today, gap down upside reversal, or just a gap down, go down, gap down, go down. What has told us, Hey, you know, run to the bunker. It's going to be a long time until we make it out of this. This is, you're kind of in no man's land or no woman's land or no person's land or whatever the appropriate thing is that you're, you're in this odd place because we didn't test the 200 day today. Hoping that either we get some news over the weekend that gets us up and out of there. I think that's probably highly unlikely, but really the better thing would be a gap down over the weekend and just figure out if there are buyers there or not. I don't know. Nobody knows anyone who says they know they're full in themselves. We have to wait and see. So before we get to the historical charts, let's just go over the very basic thing from an IBD level. We wait for a follow through day when we're in a position like this. What is that? That's where you have your first rally day. That was today, not yesterday. And then from there, you start counting. This is day one. And then you wait for further evidence of, and it was, we were up enough for a, for a rally day. You only have to be up on the day period. It doesn't have to be a good bar, just up on the day. This 0.01 is up enough for rally day. You'd like it more. You don't have to have it more than on day four or after. So mid to late next week. If we get another thrust higher, that becomes a follow through day. That's a green light to change your mindset to being bullish. Not all follow through days work, but then at least you have a line in the sand at that day's low. Right now you have no line in the sand. You could use yesterday's low, but that's, it didn't really make a stand there. So that, that's not a great stop. If you have to have a stop, that's a stop to use. The best case is we undercut yesterday's low next week and really get a test and have a new rally day and low associated with it. Just one little bit that's kind of confusing with follow through days is it's not today's low that can't be breached. It's yesterday's low. It's the low of the attempted rally that can't be breached. If it's breached, even on an intraday basis, you've got to look for a new rally day and start the count all over again. So that's for people who don't know what a follow through day is. Okay. Now let's go back to NASDAQ and I want to, you want to put in your mind what, and if you were doing this at home, what you would want to do if you were doing this type of research and you either print out this chart or you would just do a screen grab and have it separate. So you have your base case or your current, your, your current chart that you're looking for, for precedence for it, where you keep on referring back to it. So just get this in your mind of where the 50 days above the 200 day. Um, you know, we were above the 200 day. You slice through it and we're going to be focusing on historical times where the first day where your high is stuck underneath your 200 day. So let's look at some of those dates and we'll try to learn from that. [00:12:18] Speaker 1: Yeah, absolutely. Okay. So first we're going to be going back to August 21st of 2015. And does this zoom level work for you, Webby? Perfect. [00:12:29] Webby: Great job as always. So with this, what you're thinking of is how does this look different than our, our current bar? Substantially different because the, the break underneath it is dramatic versus the action that we had today. So it's not a perfect precedent in any way, shape or form other than yesterday's action was very similar. 50 day above it, the 21 day underneath the 50 day, you get this big spread closing at your lows, going underneath your 200 day. So it has that look. It's just today's action was better than this. Let's go out to the next date because this is the beginning of a real chop environment. And our good friend, um, Arusha, uh, and former colleague during this timeframe, I think is where he named it a chop fest. If, if my memory is, is right, because it was all over the place. Once you break the 200 day, the character changes and you get this crazy action on here. So what type of things do you go for? You look for your follow through date. We just talked about that. Then on a simpler level, I'm not saying it's better or worse, just different is looking for my checklist to, um, you know, with your 21 day, your 50 day and your 200 day and any important levels. It's very simple, whatever that level is. In this case, we're going to focus in on the 200 day, the black line and just say, first signal is get a close above it. We had it there on that gap up. The next thing is get the low above it and close up. Happened that same day. So you got two things. Then you've got your waiting game where you have to wait for the low to be above it for three consecutive days and close up. That happened there. That tells you now your mindset should change. That's my version of a follow through date for lack of a better way of putting it. But, um, so then you've got the green light there, but you would have used it earlier with the 21 day and the 50 days. So I'm just saying in relationship to the 200 day. So then you change your mindset to be open minded. But then look what happens a couple of weeks later, you come back and test the 200 day when this is why we're going over this example. So even if we come through it doesn't mean we're totally out of the woods. Let's go to the next date. Okay. [00:14:48] Speaker 1: Uh, you just told me to advance a couple of months. [00:14:52] Webby: Yeah. [00:14:53] Speaker 1: At a time. So we'll go to. Perfect. [00:14:56] Webby: This is perfect. [00:14:57] Speaker 1: The spring of 16. [00:14:58] Webby: So now you see in there the next time where you got that gap down below the 200 day with your high underneath it. Well, you had actually two examples in there, a blue upside reversal that didn't last long and then another gap down below it. And so you can really see how the market is fighting around that, that 200 day. In my opinion, many algos out there. I developed a William O'Neill and company's first, uh, algo and with total 100% black box. And when you, when you build something like that, one of the first things you figure out is how powerful the 200 day is. I'm not a genius. So I know anyone else building algos are doing the same thing. And you can tell it on the, you can see it on the charts because when it's above it, it seems like you get buy orders in below it. You get big seller orders. That's why you get these gaps in both ways. So there's a world of pain going on there. You're living under the 200 day. That's where you want to be lighter out of the market waiting for follow through days and such. Let's go out to the next, um, another three months or so, or whatever the next date is. [00:16:02] Speaker 1: Sure. Let me look at my notes here. We'll go to 7, 8, 16. [00:16:13] Webby: Okay. So this I wanted to show, and we talked about it a little bit on IBD live this morning. This is that same timeframe that we've moved forward through. And it was test after test of the 200 day above it, below it. This is why Arusha called it a chop fest. Then you had the Brexit there. That was when it's those who remember that where it was falling out of bed down to the 4,600 level. But then if you step back from it and can you do a zoom out so we can see that, that whole timeframe we were looking at. You can see how choppy it's been, but then focus on the right side of the chart and how the, the distance from the highs and the lows of these little mini bases that's forming is tighter than the left side. So what that's telling you is the bulls and the bears are more comfortable and it's closer to equilibrium. So when this one happens, you've got to be more open minded that it's going to work, but the other ones look fairly good and they didn't work. Let's just go out, you know, from there. If I gave you another date, if not, just go out to the end of that year. Okay. And you can see that nice trend. And when it started trending up from there, total character change, the wide and loose action was, had gone away. Meaning the bulls and the bears knew where to price things in your trending. Also focus on that green line, which is my favorite, the 21 day with that low staying above it. Then you're in a safe space as safe as anything gets in the, in the market. Um, so that was one, one big example from the 15 to, to, um, 16, 17 timeframe. Let's look at the next one. [00:17:57] Speaker 1: All right. The next timeframe that we're going to be taking a look at. Is, did you want to look at January of this next year or. [00:18:08] Webby: Uh, let's go to the, I think you've got the, the 4, 3, 19. We can skip to that. [00:18:13] Speaker 1: Okay. So just to go out a little bit longer. All right. So we're going to go. Well, you gave me a date in 2018. [00:18:20] Webby: Oh, I'm sorry. Yeah. Let's go there. [00:18:23] Speaker 1: My mistake. Okay. No, you're good. Lots of dates. 10, 23, 18. [00:18:28] Webby: Okay, perfect. So this was a fed induced, in my opinion, bear market that we went through. So, but again, you had that break of the, the 200 day, but this was the first day. It tried to bounce above it. And you had to have an open mind there that it was bouncing. But then once you, or high was stuck underneath there, you're like, oh man, this is not going to be pretty. Even though you had an upside reversal there. It was again, the character change. Look at the spreads of the last two or three weeks there. The distance from the high and the low. Focus on that versus the left side of the chart where it's, where it's more normal. That's a character change that's going on. And that was, that's a whole Powell thing that we could talk about another day. Let's go out to the next date on here. See how this played out. [00:19:15] Speaker 1: April of 2019. Yeah. [00:19:18] Webby: So you had three waves down in there. Then you had a nice recovery off of the bottom that January 4th was a key day on there. But what we're showing is it's recovery from its 200 day. And again, once you get back above there, you're in a different type of zone. Now, sometimes before you get above there, you can get bullish if your low is trending above your 21 day. So you could see there in, in January and February, even though you were still underneath your 20, underneath your 200 day, your low was trending above your, your 21. So I would have was bullish during that timeframe and would be bullish because even though you're underneath, you're in a bad storm, you know, you've got all your protection on you. As long as your, your low is still above the 21 day and you're trending that nicely. Let's go out to the next one. Okay. [00:20:15] Speaker 1: The next one is going to be 531 of 19. [00:20:22] Webby: And I was just showing that you've got, you know, these things don't last forever. So then again, you know, you ran up, but then you started breaking down through your 21 day. You've got to respect that slice through the 50. And then ultimately, uh, right back down to your 200. So you change your mindset again. [00:20:40] Speaker 1: All right. And then seven, one of 19. [00:20:43] Webby: Okay. And then this was interesting because it was a quick recovery. That's this is why you don't just go, Oh, we broke the 200 day. I'm going on vacation. I'm not looking at the market because sometimes they snap back. And when you're underneath it, when you're that day where your high is underneath the, the 200 day, you've got to be negative. You just have to be, but then when you get back above it and you go through that checklist and, or you get bills fall through day, you've got to change your mindset. This is all about mindset because that mindset, um, impacts the size that you buy, what you buy, how you buy, if you buy. Um, and so then you're leaning bullish when you're getting back above that. And you're, you're getting through that checklist. All right. [00:21:28] Speaker 1: And next on our list, we're going to be taking a look at 2022. So we'll go ahead and go to one 19 of 22. Okay. [00:21:40] Webby: So now people probably maybe don't remember those other dates that we were looking at, but they probably still have this one fresh in your mind. And when you're looking at these historical examples, do not be intellectually dishonest, which is the standard for people to do. It's not a bad thing until you realize it and you've got to change it. But most people go, Oh, okay. I know that this is the beginning of a terrible environment. So I'm going to look at everything in a really negative way. And then if you know that it bounces through it, you're looking at everything in a positive way. Don't do that. It's not going to help you. Don't do historical research. If that's how you're going to do it, just pretend like this is all the information you have. You could just as easily rip up to new highs as fall down to zero. You don't know what's going to happen. You got to put yourself in that frame of mind. So right here, your high is underneath your, your, uh, 200 day. You're closing at the low. You've got to be negative until proven. Otherwise let's, let's go out a bit or whatever. If I gave you another date, if not, let's go out a bit. [00:22:48] Speaker 1: We'll just go out a bit. [00:22:50] Webby: Yeah. Maybe out even six months. [00:22:52] Speaker 1: Okay. Let's go six months. [00:22:55] Webby: And you see how choppy and sloppy. And that was, that was a terrible, terrible environment. I mean, it just was, it was chop, chop fest all over the place. There are follow through days in there. There were getting above my checklist. With the, with, as it goes with the 21. But why we wanted to show this is that ceiling up above that. You always have to be aware of that. But even that little bit of time when you're trending above the 21 day, you're, you're always looking and worried and worried because you should worry when you're underneath that 200 day. Oh, I like that. You went out to the weekly. That's great. Yeah. You can go out even further. I mean, that is a world of pain. I mean, and you remember that. I remember that. Yeah. Most people watching, remember that. And you're getting up to that. And it just gets turned away. It's like a, just like a magnet in reverse. When you have two maxes next to each other, they repel. It's, that's what ends up happening because all the shorts, they're having a good, good time. Just like the bulls have a good time in a, in a bull market. They don't want, you know, they don't want anyone taking that punch ball away. So they press hard, use a lot of bullets when you get up to that 200 day to keep things in a world of pain. Let's go out to the, back to the daily and out, out to whatever date I gave you. [00:24:14] Speaker 1: Okay. Yeah. It's basically the date that I punched up. [00:24:19] Webby: Okay. Perfect. So you had your first recovery through the 200 day, couldn't hang. And then, um, add one more test and let, let's go out a bit from there. All right, go to six. Okay. And so you see here after that test and you got back above it, you switch your mindset to, to being positive, but you're also looking for other things. You've got follow through days in there. You've got the checklist working for you as it applies to all the, the 21 day, the 50 day and the 200 day. And you have that 50 day in a nice up trend. You're low for, uh, is above the, the 50 day for the bulk of that timeframe. And as well as the 21 day. So that's when you're pressing it, you know, on the, you're, you're pressing the gas in a big way. [00:25:10] Speaker 1: Mm hmm. Okay. We've got more fun to get to. And, uh, actually before, before we move on. So in this type of tricky environment where you're just under that 200 day for a very long time, like you said, there are these brief trends, uh, that perhaps you can take advantage of. But, uh, and we've talked about this on the show before you're getting out pretty quickly when you see a break below that shorter term trend, uh, because we're underneath a declining 200 day, or how do you treat it a little differently? Like you said, versus this press the gas moment when things write themselves from a moving average standpoint. [00:25:56] Speaker ?: Okay. [00:25:56] Webby: I'll tell you a little dirty little secret. I'm a stock junkie. It is just the way it is. If I wasn't, I'm going to tell you everyone the best advice ever. Just don't buy anything when you're underneath the 200 day. Don't do any trading. But if you're watching this, you're probably a stock junkie too. So what do you do with that information? You go, okay, I'm underneath the 200 day. I am playing with fire. I am doing things I shouldn't really be doing. So I need to dial things back. If your normal position size is 10%, maybe you make it 2% or 1% or 3%. Um, you're looking for any signs of weakness, uh, anywhere, and you're getting out of dodge. You're locking in your gains very early. There were times when Bill would normally, Bill O'Neill, founder of IBD, normally would like to start locking in profits at, at, uh, up 20%. But in difficult environments, not necessarily around the 200 day. Cause he really didn't talk about the 200 day that much. That was more, this is more of my thing. He always looked at the 200 day, the 50 day. Those were always on his charts, but he wasn't obsessed about it. I'm just telling it the way it is. The, um, in fact, I don't remember him ever referencing it to me personally, but, um, he would be aware of it. So, but when you're underneath it, that yes, if you break that 21 day, why are you trading? That's what you've got to ask yourself. And, and there are going to be exceptions because if you go through historical model books and then you do a three dimensional chess, you're looking at it going, wow, this had this big move. Now let me look at the NASDAQ or the S and P and there are times when they're going to be in positions like this. So I'm talking about in general, there are exceptions to every rule. If you're way up on some stock and just because the market goes underneath the 200 day, it doesn't mean you have to sell it if it's acting right. But I'm talking about new capital, but being put to work. [00:27:58] Speaker 1: Right. And, uh, just looking at these precedents so far, sort of my gut take, this isn't, you know, a by, by the numbers calculation, but it seems like, uh, perhaps the time to be even more cautious with these shorter term counter rallies is when you're below a declining. 200 day versus some of the other examples that we looked at, whether it's 2015 or, or maybe some of the more recent ones. Uh, but again, I don't have the exact numbers. This is just sort of my gut feel is that, uh, some of those snapbacks where the 200 day is still maybe flat, uh, or inclining. There's, there's just sort of a different, uh, different type of environment with that. What are your thoughts on that? Well, you're dead. [00:28:47] Webby: Right. Because let's just go, um, let's go out to 2002. We weren't going to talk about that, but we'll, we'll, we'll go there. Cause I was going to stay away from that timeframe because. You know, everyone I'm, I'm not calling a top like that or anything yet in, in zoom out. So during that timeframe at the firm, we got chopped up, we got out of the market in March. Like we were all fine, but then what happened was we, um, every one of those follow through days bill would be very bullish. Very bullish. And he would, he would normally just during that timeframe, he would look at the Dow and the S and P, uh, and the NASDAQ or his signals to get, uh, back in. Um, but then during that, he would look at anything that he could, that looked positive. So we'd go to the S and P 600, we'd go to the New York composite. We'd bring in a lot of other things because. They were looking good at times, but you just had this overhang of this NASDAQ falling where you were in this declining, uh, 200 day as you were talking about. And we would go in heavy on all of those follow through days. And we got chopped up a lot, even though we were following the rules, we were just going in too heavy. So learning from that, what you do is when you're on in a, uh, underneath the 200 day and you're getting those follow through days or buy signals, you're being more cautious with them. When it's a declining, as you pointed out, what is that telling you? Well, it's the, the bears are in control and they can only get, you know, it by definition, they've been in control. Because if at 200 day, a long-term moving average is in a downtrend, especially a steep downtrend, they've been winning. So they are going to probably continue winning for a while. So you want to respect that. Now let's go out to like O three. Um, just go out to like June of O three. And this is a timeframe for folks to really study because you had that bounce up from October of O two, um, up there into this huge move. And that was just like 1932. It had an initial bounce. And then you had, if you scroll over to the right, you have three waves down there. Um, ending in March of O three and, uh, you know, over in. Oh, these three waves. Those three waves. Yeah. So the bottom in October of O two, it doesn't look like much on the chart, but that was huge move. And that's where bill was buying eBay during that timeframe. In fact, pull up eBay. [00:31:23] Speaker 1: Sure. [00:31:24] Webby: Which I do have a position in right now. So I just have to say that. So look at that stock. He was buying that during that timeframe and that became his baby. Um, and he made a fortune off of that stock. Now let's go back to the NASDAQ to see. How different it looked than that eBay chart. But in October you bounced up at a big move up and then you had these three waves down and then everyone was back in this negative mindset. But then when it turned, you had to be Johnny on the spot there and really change your mindset. Cause now you're living above the 200 day, just like what happened in 1932 for those people who like to study history. Um, but your point, very important when you're in a, when that you've had enough damage that that 200 day is in a decline. That is just a world of pain. Go on vacation. Just go on. Just stop. [00:32:23] Speaker 1: Watch IBD live. Watch IBD live. But otherwise. Yeah. [00:32:27] Webby: Well, I'm just telling it the way it is, but I know I'm talking to myself because every time we're under there, I'm like, oh, I'm not going to trade until we get it back over the 200 day. And I see a couple of charts and start buying. I'm like, what are you doing? Yeah. You know, the odds are stacked against you. So let's go to those other dates I gave you. [00:32:43] Speaker 1: Okay. Did we look at the, we did look at the 2022. [00:32:46] Webby: We didn't do the nineties stuff. Yeah. [00:32:48] Speaker 1: Did we do the 2025? I don't know. [00:32:50] Webby: Oh, let's go there. No, we didn't. [00:32:52] Speaker 1: Yeah, we didn't. Okay. So we'll do that first. So that's three, seven of 25. Yeah. [00:32:59] Webby: Okay. So again, you, you fell down hard, you know, somewhat similar to what we've got going on here. The market was okay. Then you, you fall out of bed. Your high is underneath the, your, um, 200 day for the first time. Let's see how this one plays out. Okay. [00:33:17] Speaker 1: The next date that we want to go to is a couple months later, six, four of 25, six, 24 rather. [00:33:30] Webby: And we're just showing that how it kept falling during, during that, that timeframe. But once your low started getting back above the 21 day and staying above it, you were starting to get, you know, putting on the gas more. Putting on the gas more, but then once you really got above the 200 day, that's when, okay, the coast is clear. And you do need to really change that mindset there. Times like that are going to be so tricky. Historically, we haven't had these V shaped recoveries. This is a new thing that started in COVID where you just really come down once and bounce up. Historically go back in time. You just really won't find examples like that. It's just other things would happen. Typically a double bottom, but not just a straight down, straight back up. So it's a new phenomenon. [00:34:22] Speaker 1: It is very interesting. Okay. Now we're going to go to the 1998 timeframe 1, 12 of 98. [00:34:34] Webby: Yeah. And we wanted to end on these because we keep on talking about how this timeframe is just like the nineties. And I totally agree with that. And I will just say, I'll just pause this stuff for a second and just say, this is really good for the long-term health of the bull market. I think AI is in a bubble. If you, if I, you had a gun to my head, I'd say we're in the first or second inning of it. I don't know. I can be dead wrong. The fact that, you know, there's this pushback on AI right now, people are concerned about all the spending that's going on. It's good that we're going through these corrective phases. If we were just ripping up, then you'd be closer to the end because there would be too much euphoria. You need to bring in this fear because markets go up, then it should come down. You don't want them just ripping up. Like, you know, like happens in the tail end just like in 1929 and 1999. So that's why we're looking at this timeframe. So again, volatile market here, quite a bit different than what we've been going through because, you know, the position of the 200-day and the position of the 21-day underneath it for a long time. But this is our first time our high is underneath the 200-day. So let's see how this one plays out. [00:35:51] Speaker 1: Okay. Next date that we're going to go to is 226. 226. [00:36:03] Webby: And yeah, I kind of remember this like it was yesterday. I was in Bill's research department during this timeframe. And it was just fascinating getting this. There were about 40 of us and lots of us traded and just seeing how everyone kind of traded differently during this timeframe. I would have understood the 200-days power during that timeframe or really the 50-day. I think it would have been easier for me because living underneath that 50-day, that red line in there, I would have been lighter in the market. But this is what can happen. You get that quick turn one bar underneath there. That's why you need to stay tuned and be watching things because that can happen. Now, obviously, that was a nice bar, not like what we had today. That's what I was hoping we were going to have today on SPY. Really undercut the 200-day, get underneath there, get all the bears, you know, pushing things and then squeeze them. But that's not what happened. We had a pathetic rally today. So from there, then you just go through that checklist, get your close above the 200-day. Then you get your low above the 200-day and close up. And then three days, you start changing your mindset. And that's early on on there. And you have the same thing with the 50-day and the 21-day. So don't stay negative if the market proves that it can bounce back. We haven't seen that yet. [00:37:34] Speaker 3: The next date. Okay. [00:37:48] Webby: And I'm pretty sure this was the day that I put my first short on ever. I was trying to figure out the general market. And I'm like, oh, I think I've got this figured out. I should short. And so I looked at Bill's book that I always keep with me. The very important book. And I was like, oh, I'll just flip up all his rules upside down. Well, don't do that. That's silly. I was not bright. So I went in and I think I shorted Clorox or something like that. And I looked at the market, the market was falling apart. I'm like, oh, I'm a genius. I figured this stuff out. But my short was going against me. So just remember, there's nothing wrong with shorting, but it's a whole different game. And you can't just flip the rules upside down. [00:38:33] Speaker 3: Let's see how this one played out. [00:38:39] Speaker 1: All right. Let me go to the next date on our list, Webby. Yeah, the end of the year, I think. And this is our final. Yes. New Year's Eve. Of 1998. [00:38:50] Webby: So this is how bear markets used to happen. And I think that was like a 33% bear where you have a double bottom. You have an initial move up, up to your declining 50. And that was one that our good friend Charles Harris pointed out to me. It was like when you running up against a declining 50, you want to be really concerned about it. That's one of the things out of his playbook. And this is a perfect case. Now, it doesn't always work out that well that way. But it is something you want to be aware of when you get a steep decline there. Rolled back. Had one more shakeout. And then you recovered through your 200-day. You recovered through your 21-day and everything. And note there, you're right where your cursor was, that your low started trending above your 21-day. And so in that case, that's when you do want to start pushing it, especially when you get a capitulation bottom like that, even though you're underneath the 200-day, as long as that low remains above it. And that's when you'd be leaning on your Webby RSI and studying that. But hopefully you guys get a lot out of this. Go to the weekly while we're still on this change date and kind of zoom out a little bit. And at home over the weekend, go back and focus on those times when it's underneath the 200-day and do what we were doing and go bar by bar. Ask yourself, what would you do? Maybe you come up with something new. Don't just use the follow-through day or my checklist or something else. Look for something that fits how you like to look at things. Just do that fish tank thing of just studying it with an open mind. [00:40:32] Speaker 1: Well said. All right, Webby. [00:40:36] Webby: I know we've gone super long on this, but I think it was important. I'll try to be fast with the other stuff. It definitely was. [00:40:42] Speaker 1: OK, so we want to take a look at our three stocks. Is that where we want to go? [00:40:46] Speaker 3: Sure, let's do it fast. [00:40:47] Speaker 1: Yeah. OK, so we're going to quickly just take a look at three stocks for the radar. Airbnb broke out on earnings today. We've seen a number of leisure travel related stocks holding up well. You know, the other week we were looking at the Marriott and Hilton, but this breaking out of a cup with handle accelerating. Earnings growth, accelerating revenue growth relative strength line. Is this a blue dot on the on the weekly? While it is at a new high, I'm going to readjust my scaling here. At any rate, a strong breakout this week. So looking at this for Intel, can it continue to lead and hold up amid the market turmoil? Any thoughts? [00:41:31] Webby: Yes, it looks a lot better than Intel. But as far as this goes, what you're looking for is you brought up Marriott. I did want to go there. Go to Marriott because this is how I would play the Airbnb. I wouldn't buy it up here, but just like on the Marriott had its gap up, not as nice as is the Airbnb. But then you wait for something like this to have happen. So now at least you have a test and upside reversal today. And then you have something to trade against where if you were to buy it, let's say it gets a little stronger. I don't think it's strong enough to buy here, but if you didn't want to buy it here, you would use today's low as your stop because it's relatively tight. Now, let's go back to the Airbnb and it's just up there. Now, if we were in a different environment, I might take a shot at the Airbnb, but not in this environment where it's been a whack-a-mole. Anything up, they slam down, break us, having a hard time working and the 200 day issue. I like the fundamentals here. I like that you can understand it. I think we're switching into an environment that is going to be more favorable for building stocks, home builders and so on. And this is kind of a play there and as well as travel, as well as, you know, you've got that blend there. So I think it's in a perfect spot. And I like the position of this base being above the prior basis. You have a nice prior uptrend. So this is in perfect position. Go back to the daily. And the RS line being above its moving averages, those would be the only stocks I would consider right now. So now what you're doing is you're waiting next week to see that if this just rips and continues up and you see a bunch of other stocks like that, then you start opening your mindset up to, okay, well, there's some groups that are working and look at those groups. I wouldn't chase this up here, but if it goes sideways like the Marriott did and gives you an entry point, I'm going to be giving it a shot. And we can go to the next one. [00:43:35] Speaker 1: Okay. We're going to go to Crocs. Yeah. We'll break out here on earnings last week. [00:43:41] Webby: Yeah. So down two days. My base case is always, you know, two and a half days down is a kind of a normal thing. What I like about it is that you had your gap up and it's holding it and it feels disconnected with the rest of the market. As far as I know, Crocs is not an AI play. So that's, that works for it. So I would be looking at things like this. If you can get an upside, pull up REGN, which was a stock that we were going to talk about. They kind of add something like this. That's what I'm looking for. Two and a half days down, even though it's not a beautiful upside reversal, buying it on, on a day like today, and then using today's low as your stop. The only way you really get in trouble there is a gap down. So going, let's go back to the Crocs. But this one in my, in our mind as a, as a base is something to trade. It's similar. We get some weakness on Monday on this with an upside reversal. You give it a shot. If you're looking for something to buy, or if it takes out today's high, you know, maybe you're buying it on strength with today's low as your stop. If you want to trade, you don't have to trade. You can wait for a follow through day. We'll go to the next one. [00:44:53] Speaker 1: Yeah. Our next and final stock that we're going to be taking a look at for this section is a frog. So a trio this week of stocks that we're looking at with these positive earnings reactions and J frog today up 35%. So an impressive move that you looked at this morning on IBD live. [00:45:14] Webby: Yeah. And I really, sometimes you got to look at a bunch of stocks before you find one of these. [00:45:20] Speaker 1: Yeah. You look there. Maybe kiss it. [00:45:23] Webby: Yeah. So that's where I was going. So the way I look at this is, um, super volatile stock, right? That we've, you know, a seven ATR. Plus anytime you have a move like that, you're, you're really playing with fire, but this to me has a lot of potential because it was able to snap back in. And in an environment like this in such a big way to me, it tells me the shorts knew they were playing with fire and they were getting squeezed today. It's a too short to be a proper double bottom, but it's in that vein. If this was a good environment, I would have been buying it today with using, um, you know, that today's low is so far away, but I would probably use the 50 day there as to start exiting from there. But, uh, you know, if it takes out the high from last week, you know, that, um, that could be an entry point, but this is super risky, but these are just the types of things that you were wanting to look for. Or if you want some heat now you can trade heat, maybe you trade half of 1% position in something. If you're just dying to buy something. Um, there's nothing wrong with baby positions in, in, in my opinion, and you can do more of a, a mini shotgun type of approach. [00:46:39] Speaker 1: Good point there, Webby. All right. Are you ready to share your chart? Yep. [00:46:43] Webby: Let's see. And I will do these quickly. Cause they're ugly. Just a little bit of a heads up. Um, but we're going to try to learn something from this ugliness. Again, this is the time of, uh, the show where we look at each stock individually, the NASDAQ and the sky, and just in isolation, let it, uh, paint a picture for us to put this mosaic together at the end of it. This is a horrible, horrible candle outside, uh, outside week. We traded above last week's a high underneath, uh, last week's low closing at the low higher, uh, a larger top width and bottom width. Nothing good about this candle gives you an expectation of moving lower. Look, just looking at that. There's no, there's nothing positive that I can see. Um, now this one feels a little bit better, frankly. Um, just being honest, cause it feels like it got a little bit of support. Uh, where it was coming down, um, more the prior weeks. And so it almost has like a capitulation type of field, but still a negative, uh, negative bar that, uh, would lead you more into, you know, sideways to down. But contrasting that back with the SPI, SPI looks like, oh, it wants to fall out of bed. Whereas the NASDAQ just looks like a little bit more capitulation going on there. Let's go to the next one. Um, so these are our regression lines or they were our regression lines. So we are long out of, um, these are, these are dead to us at this point. Let me, um, oops, went the wrong direction. So we fell out underneath the green line. We're too far away. We don't have to do any waiting. Um, we, what we need to do is wait for, um, a follow through day, and then we'll start drawing another one. So we're going to need a lot of time. Same thing with this one. And this shows you the power of it. We kind of threw this out over here because it couldn't get back above that green line. Saying that trend is gone. And, uh, you know, so expect further weakness through that lens. Now we're going to go over to our 50% retracement. See, there's the same lines that we've used before. You know, the, the highs and lows from, uh, or the low from July, the high from, uh, October. Now for the first time, this looks weak. Cause now we're in the Southern hemisphere. Very, very bad look there. Looks like it wants to go lower. This one actually penetrated underneath our low from over here, which in a way is good from one lens, um, of shaking out and being back above it. But that is trying to make it, you know, trying to put some lipstick on a pig. It is just looks fricking ugly. Um, that's a technical term. Okay. Now we're going to go over to spy. These are the same lines we've had on for a while, but we just wanted to see how, um, how they were going to hold. And they haven't been, we've just been going through one after another. It's, uh, stopped before this, uh, seven, 29, 10, which is right around your 200 day. So we want to see if that can hold our thick line there at the bottom that goes back to the low from, from June. So if we break that, then there's really no support anywhere because you'd be underneath your 200 day. You'd be underneath all bits of support. And then you'd be looking at, you know, something down and underneath the 700 range. Um, so kind of an elevator ride down, um, Aerosmith style. Okay. So this one, we actually broke our line in the sand over here yesterday. That was, that was our low that we, um, had there on July 29th. So what do we want to do when the reason why we keep these lines on there, um, is you want to go back through them on the upside. So you can think of these are now green lines that you want to get through. So you want to get through the 24, 980, then you want to get through the 25, 802 and so on. Let's just say in a nutshell, these are a bunch of, uh, moving averages with your white line being your current, um, uh, trading. And so that's their, you know, your current trading is underneath almost all of them. It's just above one, the last Fibonacci moving average there. That is a horrible look. You want it to get back over here into the Skittles area that we talked about last week. If you don't know why that's the Skittles area, it means you don't tune in every week. Shame on you. So we want to get back to Skittles land over there. And, uh, we're underneath this one. Nothing good about that. Um, now we added this spooky one on there, um, during the Halloween week. And so this is only the current, the current, um, trading is in, um, the, the closes in, uh, orange in the, this big line here. That's your 200 day. So it's above it there, um, below it there. So we need to get back above that. Now your favorite one, Allie, what do you say about this 21 day? [00:52:08] Speaker 1: Uh, what a mess. Right. [00:52:11] Webby: Like that. That's tech. That's another technical term. What about the NASDAQ? [00:52:16] Speaker 1: Yeah. Even worse. There you go. [00:52:19] Webby: Okay. Well, we'll switch over. Good job. Um, switch over to my other charts. Okay. So now this is interesting. We, um, this is the Webby RSI. This is measuring the low versus your 21 day. And what you're looking for on a positive sign is to get a wall of blue, like over here. Like we had an April or even this kind of small wall of blue here during this timeframe that is telling you that your low is trending above your, your, your 21 day. So you've got walls of blue here, but you also have this other thing. You've got this wall of, of orange. Wall of orange is not a good thing. That's like what we had here in. Oh, uh, 25 where that is your high versus your, your 21 days. So when it gets stuck underneath there, you're really kind of looking for a capitulation at some point, which happened here. Um, where your high was so far underneath it is most likely going to mean revert, but that is very tricky. But at least it gives you some sort of expectation. Now scrolling into what we've got here. It's not even a wall yet because it's all over the place. So it's just choppy thing, just being honest, even though we've got a spike up here being objective. This looks like the beginning of a wall. I don't want to say that that's what that looks like. Hopefully something changes, but it looks like the beginning of a wall. And let's look at the, um, NASDAQ and you can see that wall has been building. Meaning your, your high versus your 21 day is getting further away, but not really into a capitulation type of, uh, area. Because one, you haven't had the time and you haven't had the really the distance there. You can see that spike, um, back in 25 got up to about 3.8 ATRs away. We're still at, at 2.5. So a long way to go there. Let's go to our Bob Marley off high. This is just measuring in terms of ATRs, how far, um, your low is versus your highs expressed down here. Now the way to interpret this is, um, looking at prior lows in seeing, is it out of character? So this kept on getting support in and around four and a half ATRs off your high. So as you, you would expect if the market was healthy, that your low wouldn't get much lower than that, but it did get substantially lower here above five ATRs off your high. That's a bad look and that's typically what it ends up happening when it goes lower. Like let's go back in time over here. And you can see there again in 25, it had been going, stopping around, you know, 4.7 ish ATRs, uh, off the high. And then it broke through there and then it got really ugly. Um, and you don't know how ugly it can get. Let's go over to the NASDAQ. Um, and here, this one was sloppier, but we're, we're lower than our lows. The only good thing about this is from this lens, it's three waves down one wave, two waves, three waves. But, um, that's me just trying to be positive about it. It just looks, it looks horrible. Um, and, uh, one last thing, let's go back to, uh, market surge. Sure. And I want to pull up another chart. [00:55:50] Speaker 3: Okay. [00:55:51] Webby: Um, and let's pull up the, the New York composite. Okay. We talked about this a little bit on IBD live this morning. Um, so this is one of the indexes that bill would look at more than you would think. So he would look at the S and P the NASDAQ back in the day, the Dow. Then he converted over to the New York composite on a regular basis. Weird times. He'd pull out of, uh, S and P. He didn't really like the Russell. He would go with the S and P, um, mid caps or small caps. That was just kind of his thing. So on this day, this is a couple of days ago. Um, things looked great through this lens. The NASDAQ didn't look, uh, good at all. Pull up the NASDAQ. [00:56:36] Speaker 1: That's not a good look. [00:56:40] Webby: Let's pull up the S and P on that day. That was like, eh, you know, it's, you could make an argument that it looked okay, but not really, you know, it was coming up, but go over to the New York composite. Cause we got questions on why did the investment levels at IBD change on that day? Cause we, we raised the exposure. It's done through a group, uh, vote type of thing. And we all, you know, put our, our vote in for, um, what we would want to do. And it's an increment of 20%. Um, I think the, eventually, I think we, we change it from rather the target limits, the way we do it now, zero to 20, 20 to 40, 40 to 60 and so on to the way, uh, Charles Harris, Justin, and I, uh, designed the IBD market school rules where the level is a speed limit. Cause I think it's a different mindset saying, okay, I don't want to go over 40 or I don't want to go over 20 or 60 or what have you rather than, oh, shoot. They, they, they raised it. I want to get up to 40 to 60 or 80 to a hundred. Well, if you haven't been doing well, or you don't see stocks, you don't want to feel that pressure. It's more just like, okay, I'm driving down the street. Oh, it's 25 miles an hour here in the school zone, or I'm on a freeway in Texas and I can go 85 or anything in between. That's the way I like to look at that. And if you look at this chart objectively, I mean, tell me why you wouldn't raise. You absolutely would. If not, you're just kind of fooling yourself. This is an important part of the market, looking at the New York and it kind of coincides with the RSP for whatever reason. Let's pull up the RSP, which is the equal weight of SPI. So this clearly didn't work out because they had major expectation breakers the next day. But if you start getting in a mindset of Monday morning quarterbacking, it's going to do you more harm than good. Cause you're going to think that you're analyzing things better than you really are. The reality is market went in a downtrend. You didn't let's go to the next day on here. Let's go back to the New York composite and then on this day. And then yes. So you have your major expectation breaker. That's something that I coined with Justin and Charles during the market school days. What is that? You had a clear expectation the day before that you were going to move higher and it didn't happen and didn't happen in a big way. And so when you get defensive, but you get more defensive than you normally would. I hate to go to this day, but let's go to October 31st of 2007. Cause this is where the expectation breaker came from. [00:59:20] Speaker 1: On the NASDAQ? [00:59:21] Webby: On the NASDAQ, please. [00:59:23] Speaker 1: Can you repeat the date? [00:59:25] Webby: October 31st of 2007. Okay. So you look at this and this is as high as I got before one of the worst bear markets in all of time. The 07 to the great financial crisis of 07 to 09. And if you look at this and you say something negative about it, you probably know what happened and you're not being intellectually honest. That looks great to me. There's nitpicky things on there. There's nitpicky things on every chart. That looks good. Go to the next day. Expectation breaker. Not as bad as what we had yesterday on the New York composite. Uh, but that had to change your mindset because all of a sudden it's like, wait, you know, we, what ended up changing? Like we should be going up or at least having an inside day, not gapping down, closing, uh, at your lows, pull up crocs on that same day. Cause I was in there. One of the worst days of my trading career that I was loaded up. That burned me. That was a game changer of a day. When things like that happened, that was a leading stock during that timeframe. Yeah. When you start seeing leading stocks break down like that, you need to really pay it, pay attention because the times they are a change. And as our good friend, um, once told us, well, he's not our good friend. I wish he was our good friend, but, uh, let's go back to the current market just for one moment. Look at all that time. I I'm like looking at the time. I did very well, Ali. You did. I'm so proud. I am. I'm too. Uh, so look, let's wrap all this stuff up in a nutshell. We went through all of the mosaic charts. We went through the historical charts. What action do you actually do with all this nonsense that Webby said? You wait for a follow through day. You wait to get about your 200 day. You wait for the checklist. You wait. This is the Tom Petty moment. This is the Axel Rose patient's moment. This is where you just wait. You observe. You build your watch list. This is not the time to fall asleep because we saw those times where sometimes you came down and you bounced right back up. You've got to have an open mind. If we get back above the 200 day, if we don't give back above the 200 day, you need to lean bearish because let's go over to spy spy is still holding on by a thread. Um, and, uh, that if that breaks through, that's actually a good thing because then we're going to get more information. You, we should all be hoping and sending vibes to the spy world to gap down on Monday so we can see what ends up happening. Uh, gap down, go down really bad. Gap down upside reversal. Then we've got a line in the sand for the market to trade against. Doesn't mean you have to trade. You wait. You can wait for a follow through day. Again, the follow through day today is day one. We can't undercut yesterday's low. You can undercut today's low. Can't undercut yesterday's low. If you do, you have to restart counting. Um, waiting for another follow through day. Day four after waiting for a big move up in the farm likes to look for volume increasing versus the prior day. Um, or the follow through day. I don't use that, but there's not a right or wrong. Well, there is, but, um, I'll leave that for another day, but there, um, you want the volume to increase for an orthodox follow through day. Um, at that point, then you change your mindset. Doesn't mean they're all going to work. Um, sorry. I said a little too much. What are your thoughts on the market there, Allie? Waiting. [01:03:10] Speaker 1: I'm in no rush. I know when my portfolio does well. It's not when the indexes are doing this. It's during a power turn. It's at a market turn. So I'm waiting for either a follow through day or, or a couple of days, uh, in a position that I can trade off of. And yeah, hopefully things will build from there waiting for the next power trend ideally, but we'll see what we get. [01:03:42] Webby: You were doing one of my daughter's favorite John Mayer song is what you're doing, right? [01:03:47] Speaker 1: Waiting on the world's change. [01:03:49] Webby: Yeah. [01:03:50] Speaker 1: There you go. I got that one. [01:03:52] Webby: Yes. You gotta have belief. So the most important part of the week is now. Get rid of this chart and tell us what's going on with Chloe. [01:04:00] Speaker 1: That's not true. All of that was so important. And thank you so much for breaking all of that down for our audience of active investors. Uh, Webby you've got so many fans out there and, uh, yeah, I feel like these are the type of markets that IBD's perspective is especially valuable. Uh, investors are, are seeking, seeking answers. And, uh, so your guidance is much appreciated. [01:04:24] Webby: Well, it's, it's before we get into the Chloe thing, we've got to remember that we learned it all from Bill. [01:04:30] Speaker 1: Yep, we did. [01:04:31] Webby: And everyone should get Bill's book this weekend. If you don't have it already and go to the M chapter, um, and read that a few times. It is a tricky, tricky chapter, probably the hardest chapter in the book, but you will learn more about the market from that. Then I think any other book out there. And then the other thing is that what we talked about that there's no substitute for just looking at that fish tank, looking at what the market actually did. But I would read that read that chapter again. Um, just to get that fresh in your mind, because we're just lucky that he left those, all those rules for us. And then I do my best to put, um, new thing, new original work out there just to build off of what a foundation he left. But with that said, what's going on with Chloe? [01:05:20] Speaker 1: Such great stuff. I want to know. She continues to amaze me with her vocabulary. So many new words. Uh, you know, lately she's saying happy a lot. Uh, what she's, she loves Elmo now. [01:05:35] Webby: Oh, I remember the Elmo days. Yeah. That's still a thing, huh? [01:05:40] Speaker 1: It is. Yeah. Uh, and I, I have a picture with the original Elmo puppet in New York city when I was eight years old. Uh, I'm trying to get my mom to find that photo, but yeah, Chloe's obsessed with Elmo. She says, so every time she looks at a TV, which she watches very little of, she says, Elmo, Elmo. So I'm like getting her other Elmo things like a book and physical non screen things that are Elmo songs. So she, she loves all the Elmo songs, cookie monster. Uh, yeah, it's, and she even, oh, so I think I may have told you in our kitchen. Maybe not. Uh, we have one of those echo show TV. Yeah. We got one of those. Yeah. Yeah. Love it. Um, so we, that's how we, we listen, you know, echo, play the beach boys echo, play whatever. And so this week she started saying echo, uh, it doesn't quite pick up her, her version of it yet, but soon enough, she's going to be commanding echo to play whatever songs she wants. Now she, she just requests it through me. She looks at me and tells me like, whatever, you know, there's, we, last week. We, last week, you know, we talked about Johnny be good and and stuff, but yeah, now it's out. We're all about Elmo this week and dancing around. And, uh, yeah, she's, she's a cutie. She's starting to walk too. Oh, wow. That's awesome. [01:07:07] Webby: Cause you were saying that she was crawling around a lot. So like really fast. Right. Yes. [01:07:12] Speaker 1: She's, she's very fast. Yeah. She's taken about 15 steps. I think that's her record right now. But yeah. [01:07:21] Webby: You're going to have to share some videos with us of the walking. Cause that's such a, that's such a big moment in life, man. [01:07:27] Speaker 1: I know it is. It's tough. I know. We'll, we'll have to figure out how we're going to film it. Cause usually when we're, you know, we're like all in on focusing on her, no free hands, but, uh, yeah, we've got to get it on camera. So. Well, well, maybe you'll have to do it when my parents are here too. So we'll have. [01:07:43] Webby: I'm doing something for, for, uh, Chloe right now. Alexa or no echo echo. Please play the beach boys. And then Elmo. Like they're all going right now. Um, people are going to hate me when they, when they watch this back, but that's wonderful. I think what you should do at some point when you have some downtime, which I know you don't is go through and clip these things. So then when she turns 18, you can say like, this is, this is when you, how you were growing up and just, you know, clip out the webby part and just, just straight to this, this stuff. And I think it would be fun for her. And she'd be like, Oh, that was neat. [01:08:22] Speaker 1: Yeah, I agree. I agree. I love looking back on my mom. Wasn't a big, like, you know, scrapbook or, or anything like that, but, uh, little memory books and things like that were special to me from my childhood. So I definitely want to make sure she has, uh, that kind of stuff as well. So yeah, we're loving life. She's keeping me busy. Well, stay safe there. [01:08:46] Webby: Cause I know you've got a storm in town. And I think it's, I think we're good now. [01:08:50] Speaker 1: We're good. [01:08:51] Webby: Clearing up. [01:08:52] Speaker 1: We'll see if the market storm can clear up. Okay. [01:08:55] Webby: Okay. Well, um, we have our umbrellas for that. One, one somber note that I just want to end, end on. Um, we, we lost someone in the community this week. He went by TA plot. He'd like to keep his personal life private. And so he didn't share that. He did a webby rambles on with me when he had a terminal cancer that he was fighting that he, I don't want to give away the story. I think it's one of the most powerful. I did one with him as well as one with Mike Ash that had a lot of similarities. And, um, he passed on October 31st. And, um, I just, TA plot. I, um, folks should go out and watch that. You'll learn so much about life, about what's really important. And he, he fought for his family. Um, and, and to stick around for his kids, ultimately cancer got him, but he was a true beast and just, uh, never gave up. And it is a wonderful. Testament to, uh, to his kids, the type of person and his wife, the type of person he was. And, um, just, uh, I would watch that on my YouTube channel, webby 51 50. And I forget what number it is. Uh, I think 64, I could be wrong, but just look up TA plot. And, uh, it, you'll learn a lot about life and what's important, um, through that. Thanks so much for that. [01:10:22] Speaker 1: Webby. Yeah. Family's everything. And life is a blessing. So we're both now going to go, go to our families now. Yes. And, uh, we hope everyone has a great weekend. Thanks for tuning in this week. And we'll see you back here on Monday, starting with IBD live investors.com slash IBD live for [01:10:42] Speaker ?: all the details. [01:10:42] Speaker 1: And then we'll see you Monday after the close. [01:11:05] Speaker ?: Thank you.