I'm rich, i'm pretty got an apartment in the city and i beat us off the coast. It costs a couple million where you're going toe-to-toe we be singing while we're winning by the time i'm 24. It decides to deal with it. If you got a man, send these brokers back to bed, because tonight we flying high first class to japan, eating sushi river gucci hot springs cause we can sipping on sake.

Making million dollar plants super hot smoking pot with our billion dollar friends, bright lights, white lines summer in the south of france, we're going on a plane and we won't be back again cause we're heading to the moon screaming catch me. If you can so i'm about a nine, but she thinks of a seven got money all of a sudden. She thinks i'm eleven wow. How much did you make nah i'll, never be telling? Let's just say i went through hell to be living in heaven now about to pop a rubber band fly to an island off the coast of iran got money in advance, so the honeys all dance got twenty five thousand in the duffel out playing instead, the g6, Like a taxicab tell your girlfriends that they can bring their friends make rain, get paid, go play full sin, big gold chains, even with embargoes, got diamonds on the neck like leonardo, you don't even want to know how fast the car goes when i peel off in The mercy, a logo got foreign doors and marble floors with an army force on the count of four ready like a low, let's rock and roll.

When we talk it over, it was nice to know ya. So i'm about a nine, but she thinks i'm a seven got money. All of a sudden. She thinks i'm 11.

wow. How much did you make nah i'll, never be telling? Let's just say i went through hell to be living in heaven sing. Now the results are in, the results are in and the fed is apparently our daddy. That's for sure what a wild day hey.

What have i been telling you for the past two weeks last week, highly volatile this week, even more volatile and that's exactly what we're getting now in this as we go into market close, we have about just over 30 minutes left. I want to give you a run through of what went down in the fed meeting today. What came out of the notes? What came out of, i guess, jerome powell's speech, his questions that literally just concluded we'll be going over. All of that i have an update from the sec for you.

Then we could take a look at the markets and kind of wrap our heads around what in the world is actually going on, but this stuff is nuts, like i said the results are in and jerome powell is obviously our daddy, let's hop into it, so wild Wild reaction, you could see, let me actually best bring this up right here. We have three minute. So the first thing i want to say is it: the results came out at 2 14 o'clock. Remember that saying the first move is typically the wrong one.

This is the first move. I fear that things like this happen, even though we're saying it here, first move commonly the wrong move. Of course, there's always counter examples to it, but i think that there's people who get jacked up they're like cool this is a breakout awesome. Let's buy and that's just a brutal brutal trap and they just obviously got smashed.

We came off of 440 down to 430 and honestly, i don't know, there's 30 minutes left, but i'm actually feeling like still bearish in the clothes like, i think, more bearish. If the spy is hanging out below 4 30, if you have the q's hanging out below uh 400 344.50 about what uh about a half dollar below it is now this yellow line, um wild stuff, wild wild wild. So, first of all, remember the saying: well: don't fight the fed. Obviously the trend is your friend, but really on fed days.

The first reaction is typically the wrong one. Very, very common sayings and today is a perfect example of why we have such sayings. Now, let's go into why things are actually going down, let's get into the specifics of it. Well, there's already a new one, so right away back to back dow rises, 500 points as fed signals rate hike coming soon as expected, and now what dow falls 200 points? Reversing gain after fed signals rate hikes are ahead to fight inflation.

Literally, look at the difference in this. They actually had to update this original one. They switched the title of the original article. I love this.

I love media. How could he not love that that stuff hilarious all right? So basically, what came out at two because remember pal started speaking at 2 30.. Well at two. They said they didn't have any commentary about the balance sheet.

Runoff, they just said hey. We are leaving rates. The federal fund rate unchanged, but as we've previously discussed, we're going to be raising it in march, that's the going plan and then things got really really spicy. When people started to ask them questions - and this is what i found uh - i guess all my highlights disappear, but that's all right.

I can remember enough of them the fun stuff, the fun stuff, the fun stuff. So, overall they he multiple times stated. Inflation is well above two percent. We are aware of that.

We're gon na fight that everyone's, like okay cool uh, tell us something we don't know and from there he they stated that we haven't really been. He even said that he's like. In all honesty, we actually haven't really been talking about the balance sheet runoff because we know we want to do the rate hikes before so. The rate hikes apparently are going to like occur and play out before the balance sheet runoff and that's important, because the balance sheet runoff is going to be the thing that we actually see, like probably the market being hit by, depending on how aggressive and how uh.

When it happens, the time and the aggression of it could will have massive implications on the market. If you want to see an example of like the last time, the market - or i guess they tried to do a balance sheet, runoff check out the spy go to the daily and look at the end of 2018.. Look at this little ditty right, 2018 right here. You want to see what happens when they attempt to do a balance sheet.

Runoff look at this beauty right here, they're like what the hell are we doing and then it rips higher. But this little bit of insanity check it out search december 2018 balance sheet runoff wild wild stuff. So that's why people are so on the edge of their seat and attempting to pay attention to this, because the balance sheet is currently 9 trillion trillion. With a t, we don't get to say that that often nine trillion dollars, uh actually right here, swell to nearly nine trillion uh would start shrinking the balance sheet after raising interest rates.

So, okay, getting a little bit more clarity, it's not like they came in extremely hawkish. Remember this whole thing of tapering all right. We know they're going to end that the start of march. That's not new news.

We also know they're going to do an interest rate hike at in the march meeting, most likely probably going to get three this year 0.9 in total. So that's where it was at so tapering. They didn't change that there was no new tune being sung about that. One tapering ends the start of march, one more month to go on that six weeks.

Interest rates, they didn't say, they're gon na do more um right now, it's three, but they did basically try to stress over and over again how flexible they are, and they will be doing willing to do more uh if they believe that it's appropriate uh. They are watching wages. They seem to be very concerned about that of like okay right now. People are getting paid more, but everything else is outpacing it.

So even if you get a two percent pay raise, but then your everything costs five percent more. It's still a net loss of a situation that seems something that they were like very, very much trying to pay attention to um. This is where it got interesting. This was the wild thing.

Labor market can withstand rate hikes, so he was just saying yeah. No, the labor market's actually like really really strong, i think, there's quite a bit of room to raise interest rates without threatening the labor market. That was a very, very hawkish comment. That was the one that when he said it as soon as he said it and everyone's like wait, did he just say that that's when we saw one of the biggest drop-offs like it was nuts when he said that everyone like awkwardly, looked around in the room And they're, like all right, i guess i got ta buy some puts that was wild when that came out of his mouth uh.

So we went from positive to negative on these reactions. Uh economy no longer needs sustained high levels of monetary policy support. We are all on board with that. It's time to fight inflation, the economy uh, the things that they're paying attention to are strong enough they're hitting their metrics they're, not fully recovered, but they're, pretty darn close and overall, like i'm not jealous of this guy like this is a good point.

I'm surprised that they wrote this up anyway. Powell has to walk a tightrope. He definitely has to walk a tight rope. Chairman powell has to walk a typo.

He needs to communicate that the fed is 100 committed to bringing inflation back down to two percent, while not causing a recession or stock market crash by tightening monetary policy too quickly. That is a tough job. It really really is one edge in the short term. One side of these scenarios - great everyone, loves you, you pump the market, but that might not help in the long term, so he's trying to make everyone in the short term and in the long term, happy he's not trying to get inflation to be a huge problem Years down the road, but he also doesn't want to tank the market by doing everything at his disposal right now to like viciously fight inflation, it it's a tough job.

The stock market is especially vulnerable to higher rates and the removal of the tailwind that the fed's asset purchase has provided over the past two years. We believe the economy will stay out of recession and the bull market in stocks will continue this year, but we are concerned that the volatility we have already witnessed this month will increase in the months ahead and would ex excuse caution in the near time. Exercise caution. I'm sorry, i was just already thinking about how i want to respond to this um.

I don't necessarily. I mean this is a classic person whatever, like hey bull market, bull market. I don't know if we're gon na like it might be green at the end of the year, but are we gon na repeat the gains of last year? Absolutely not. The market is a completely different environment.

No way everything was getting pumped to kingdom come because nine trillion dollars worth of assets we're buying who's. The buyer where's the money from coming from it was the fed they're coming out of money out of everywhere. There's money printer go bur the fact that we know that is not happening anymore. No, there's no chance! No chance.

We have a similar year to the year. We did in 2021. It's just not going to happen. The environment is so wildly wildly different.

Reducing the balance sheet will take some time. Of course it will they're looking for this to start after the interest rate hikes, one guy had a question he's like okay. Well, the interest rate hikes, even if you do them the earliest you'd have them done, is like the summer. So, okay, will you start doing them after the summer he's like? Oh, i don't know about that, but he did have a com, a comment uh that he said later this year.

Perhaps - and that was another one of those ones that when he said it, the market like instantaneously was like we don't like that. We we don't like that. Please stop talking about that! All right, uh upside risk to inflation, we're all well aware of that. Uh stocks hit fresh lows all right and that's how it's currently playing out.

So we kind of went from just this benign update at two of like hey everything in check to all the questions getting hammered about the balance sheet, runoff and then the wild one is uh, the fed member who left rosenbaum or rosen whatever the hell. His name is uh, basically there's some sort of media outlet who obviously with taxes all this stuff has to get filed and the dates of your trades. The on the call this was crazy. They were really going after jerome they're.

Like are you gon na give us that information like and he's like? No that's like not my job. I don't have that purview, but it was interesting to even hear him like kind of get called out of like hey. We want the information, as in the exact date, that this guy was actively training to see how it lines up, with literally the fed's decisions that would be insane, but, of course jerome's like i that's not part of my office, like you have to talk to the Right people uh, but it was interesting that even on this level we're seeing people hit back about this perceived insider training um. That was something i in no way expected, but was pleasantly surprised to hear about all right.

So where are we going right now? So the market's turned red uh, the spy is down 0.5 percent, the queues are down 0.4 and the russell is down 1.3 uh tesla was very green on the day at 1.970, then it went right on the day. Now we're back green on the day uh. I still have those tesla puts that. I like told all of you about um.

It was a mess-up position. I i really didn't want this position at all. I thought i had cut it and then i was sick and then i woke up this morning and i saw how much my account was down. So that was a no-go situation for me.

So now i'm to the point of not a good legitimate trade, i'm to the point of flipping the coin. Twice now for the fed meeting which benefited me: it dropped now 40, but now i'm also betting on tesla's earnings announcement, which is today right after the market closes. One thing that the fed spoke about quite a bit that i'm actually interested to hear elon's comments about is supply chain issues. Many many components are difficult to get a hold of particularly semiconductors, which are very, very important in the world of autonomous electric vehicles.

Incredibly important. So i want to know if they're going to give any future guidance relative to what's going on with supply chain issues um. But i just want to give you an update on that position. I still have it and now it's just becoming.

It went from a good trade that i should have locked in a little bit of a gain, and even if i didn't want to, i should have like just kept it at a small loss. I thought i was out of it. I wasn't out of it. I didn't watch the market for the afternoon woke up this morning.

It's a bad situation, and now i am throwing a hail mary, so we'll see how that possibly plays out, but there was other things going on today, too: wild wild things, not just the fed, not just earnings. Our boring gensler had a meaning. Today, the sec had a very important meeting today. Gensler says sec is weighing new rules: greater disclosure from private capital funds, so this came out earlier in january, and they had the meeting related to all this today and four people voted for more transparency.

Three of them said: yes, one of them said no. The person who said no was hester. Pierce scc proposes new disclosure mandates for private equity, hedge funds, and it also somewhat related to dark pools. Ats's also known as alternative trading systems measure, would seek to improve regulators.

Understanding of private funds, operation and risk to financial stability, federal regulators propose measures that would significantly increase their visibility into private equity funds and some hedge funds, the first in a range of plans to expand oversight of private markets. So what the dealio is here is basically there's these big fancy, rich people uh, who run what's referred to as a family fund and because of its designation. They get away with a lot. The sec voted three to one like, i said the person who voted no was hester pierce to issue a proposal wednesday.

That would increase the amount of timeliness of confidential information that private equity and hedge fund report to the agency on a document known as form pf. This would allow regulators to better understand the operations and strategies of private funds for purpose of gauging their implications for financial stability. So, of course they don't want this they're. They don't want the sec like probing into them, looking at what they're doing, because they might not be doing something.

That's completely above board uh. I honestly don't know how this wasn't already a rule, but i'm very happy that this was voted on three to one in the favor of transparency. The commission, in a meeting today, wednesday january 26, is also unveiling a separate proposal that would expand oversight for some trading platforms that match buyers and sellers of u.s treasury securities. So a little interesting there.

I know not. Many of us are treasury security, uh, like experts or probably really even training them, but i just find it interesting that they are looking into the matching of buyers and sellers, because we know that has quite a bit to do with us with internalizers, i.e, citadel and Vertu, so you never know, this might be kind of the a little inkling of the direction of where the sec is attempting to go. The sec adopted form pf as part of the regulatory overhaul following the 2008 financial crisis. Currently, it is filed by private equity funds and large hedge funds on an annual or quarter quarterly basis, with a 60-day lag.

The form includes information such as net assets, borrowings and derivative holdings. Now this isn't the exact same form, but i want to talk about 13f filings. This is for any hedge fund that is managing over a hundred million dollars um. This is one of those things that absolutely will never ever ever ever make any sense to me.

They report long positions, they report call positions, they report put positions, but they don't report short positions when you're not reporting a short position. That means that, what's being represented to be the public could literally be the opposite of someone's net exposure. You just don't know the fact that one of those main four is not being presented. It's insane.

We have identified significant information gaps in situations where we would benefit from additional information. No duh, for example, we would benefit from more timely information during fast-moving market events. Recently, i believe it was maxine waters who put forward a bill to the senate finance committee to actually increase the cadence at which 13 fs would be filed. So i know they're talking about form uh.

What is it pf's right here? We're talking about 13 fs, but right now, once again they're quarterly. She was actually campaigning that they should be monthly. Among other changes. Wednesday's proposal would require large hedge funds to file reports within one business day of incidents such as extraordinary investment losses.

Now that one was wild, the fact that someone would vote against that. Among other changes, the proposal would require large hedge funds to file reports within one business day of incidents such as extraordinary investment losses. How was that not a thing as in like what they could? Just get back to them like at the end of the quarter and be like yeah. That happened like crazy right, good thing.

We got like funding and bailed out. How is that not already thing an extraordinary investment loss from large hedge funds? The fact that that doesn't have to reported to the sec - that's that's comical, that's insane! What kind of world are we living in that? That's not already how our markets are working overall, there's just too many people in like serious financial positions, as in like a lot of money who, apparently they just kind of run, amok and do whatever the hell they want to do. Well, i guess, on the silver lining of the situation, once again is they did vote three to one and all this so went through to my understanding, but it seems like what we would consider them of voting in the quote-unquote. Correct way seems like okay, the it it played out that manner awesome.

So we have about 15 minutes left uh. I just wanted to go over all that with you. I wanted to give you a quick update. Uh s, p 500 short interest.

13.6, the russell or not, excuse me not the russell, the nasdaq 32.6 and oh, no, no and yeah the russell 34. so 34 for iwm 32.6 for the qs and 13.6 short interest for the spy. Just for those of you who are interested in amc, the short interest is above 20 almost 21 and then similar situation with gme overall crypto had a nice pump recently but similar to the equities market. We are seeing a little bit of a downturn right now, um just from the actual fed meeting a little people getting a little bit spooked.

But let's see how this closes uh. There was actually some strength there, but literally as i'm pulling up the screen right now. We're seeing some bearishness um, let's see how this closes all right, just seeing if there's any questions coming through, hey matt, just curious, if you're, actually bearish on tesla er after the fed talks, just holding yolo mistake, play tried to send super and rumble but kept having Errors, um, no i'm just holding a yolo mistake. I would i i don't like playing earnings.

It's a 50 50 shot. It's the flip of a coin uh to me. Those are not odds that i really enjoy. Uh, i'm not bearish or bullish on the earnings.

I could see it going either way. We know that they're producing at the highest capacity over 8 500 vehicles a week, that's very, very good. They might be giving us updates about giga austin giga berlin. If they come out and they're like those will go operational this year and we are going to blow the lid off of any production numbers you've ever heard of before this thing could move to kingdom come on the other side, they might be like hey.

We actually might need to slow down, because this supply chain issue is like really hindering us. We just can't get the components and the parts that we need. I could see it breaking either way it's a 50 50 shot, and because of that, like i don't like playing those um for me, i my whole plan was to be flat. I wanted to go into the meeting flat in reality that initial push.

I always my go-to move with the fed is to fade it to do the opposite so today, because there was that initial spike upward, i probably would have got some spy puts, but once again i am now just babying this position that it's um silly and reckless - That i'm in anyway - and it was just because i wasn't paying attention when i was vomiting yesterday - uh - hey matt. How are the 10k stock challenge? Oh it's completed. We got it to the day. We got it above 25k.

It was actually at 27k uh. So now we're kind of thinking of the next challenge. I was thinking a little bit of trying to double up 25k to 50k, just because it allows for a different type of training. But there was a quite a bit of outstanding, like desire for, like a 1k account challenge to try to get that to 5 or 10k um.

So i don't know i i kind of wanted to align it just with the start of feb. So basically, it took us one month to do that. First, account challenge um and now i'm just trying to figure out the other, i'm between those two 25 to 50k to see. If i could pull that off or to see.

If i could do like a 1k account challenge to either five or ten um, both have their own pros and cons, i'm just trying to weigh it out and there's a good shot that we do. The next challenge at the start of feb ape nation. Strong daddy did 10 c1 pass if they did it goes into effect. I can't find ddn this thanks for all your time.

Uh. I can't speak accurately to it. I don't know the answer. If 10c won could someone answer arc reviews and tech tips uh? The dollar has been ripping a bit dxy.

The dollar index has been ripping whoa. Well, that's interesting! So if you really want crypto to like seriously move to the upside, like i'm talking, a serious serious move, you're gon na probably need the dollar to actually come down. Uh, i didn't know that dxy the last time i checked it. It must have been like at the sell-off.

I thought it was going a little bit more bearish and i was like oh okay, maybe crypto's gon na come back um, but with this strength, you're gon na need one of these guys a pretty noteworthy sell-off in dxy aka the dollar index. To if you really really want to see a move to the upside in crypto, all right, let's see what's going to go on, how are we going to go into close? We have eight minutes left uh. Let me bring up the earnings thing for you and then actually i do have an interesting, uh piece. Where is this twitter account? Where is it? Where is it all right? This is the important one right here, this guy this little doodad.

So we are right here, wednesday, the 26th after close tesla intel, if you're into jeans levi's tomorrow before the market opens mastercard, mcdonald's jet blue southwest after the market closes tomorrow. Apple robin hood visa. Before the market opens on friday, chevron caterpillar phillips 66. Some oil plays over here.

This is all by the account earnings, whispers, uh solid account. I really like these but check that out. Um tesla is going to be a big one tonight same with intel. I would love to know more about intel and their thoughts on their low.

I guess energy minimal environmental impact, bitcoin minor, so intel i'm going to be paying attention to that tesla, i'm going to be paying attention to a whole heck of a lot mastercard. I want to know about their any commentary related to crypto jetblue southwest, always a good indication of people in their leisure travel and how much the airline's bouncing back and then apple is the biggest company in the us in the world. So that's going to have a huge impact not only on the queues but also on the spy. We know that the shopping season for december uh retail shopping was down by like one percent, so we'll see, if that has a big impact on the bottom line.

For apple and then, of course, i always like to listen and pay attention to robin hoods, because i like to see them squirm i like to see that they are basically reiterating to us that everything is going downhill um. I do have a quick update on amc. I thought this was a pretty interesting thing: how amc rode the meme stock rally to revitalize its business? I would argue the same thing for gme, while amc, entertainment share price has fallen in 2022, the company has a clear path to return to profitability that wasn't available. Just a year ago, bolstered by retail investors and a meme stock frenzy last january, i mean that shows how much interest was even in this, because we all know amc's big burst was in june, the movie theater chain escaped bankruptcy, so did gme these retail investors made It possible for amc to amass more than two billion war chests right now they have about 1.8 million uh, which is the most they've had in their 101 year history, the movie theater scene.

Next focus is on repaying its debt and lowering interest costs, and we know that they are actively in talks with refinancing like literally right now. So i'm assuming we will be hearing more about that in the early march earnings announcement. So i just wanted to share all that with you a little bit of an update a little bit of a tip of the hat. What else do we have all right? We have a couple minutes left uh till that market goes ding, ding ding, which means we have a a couple couple minutes for any of your questions.

Let's let them fire while we're waiting for those questions come in. If you haven't already, it would be awesome. Awesome. Awesome if you could drop a like, i know it's annoying to remind you, but it does help.

If i remind you uh, it would be great uh. What are we at? I think we're at like 500, but there's like what 4 000 in here uh. If we could get that up to like 2 000 that'd be phenomenal folks, it's free. You just have to find that like button and smash it uh.

It just helps me get this video promoted to other people who care about the markets and care about some transparency. Reporting about what's going on in the market because i work for me: i don't have anyone really above me, um also join up with the moon game. Hit that subscribe button completely free, whether you're on rumble. You could do it there, whether on youtube.

You could do there if you're on twitch, you don't subscribe. You just hit follow, but all that stuff free, free, free, free free. Can i put amc up. Please yeah, but i mean there's not much going on uh ever since the fed meeting like it's not the most fun to watch, i mean at one point today: it was above 18.

that was crazy, but then look at this 2 p.m. The fed meeting came out and it just got crushed um it's. This is so i get questions a lot of like matt. Why are you just not watching amc? Why are you just not watching jimmy? That's all i want that's.

You should be watching it. That's why? I subscribed to you look at what happened exactly when the fed meeting came out like the fed meeting it pumped at 2 pm like the overall market and then like the overall market. The rug got pulled on it. If you think the entirety of paying attention to amc and gme is just watching amc and jimmy, and not seeing what's going on with monetary policy, physical, fiscal policy, the spy, the cues, the russell, the crypto sector, all of this stuff is intertwined.

If you're not doing yourself any surface by literally just saying, i need to see this stock like okay, yeah pay attention to it, but you have to see the network impact of everything else. That's going on uh matt! I smashed the like button, like you asked, so who do i contact to get a new computer? Jk love you, man, what's going on captain cat beard shout out shout out. Amc has only followed the spot. Yeah, that's a lot of people.

I don't even know who started it of like the fact that it like negative beta and we need a stock market crash for this to go. I don't know where people got that, but that was just growth, a grossly incorrect interpretation of beta and when to use beta. I honestly, the beta value of amc to me means absolutely squat. You would only compare the variance of things if they are related.

I don't think the variance of amc is related to the variance of the spy, if anything, i'd be paying attention to really interest rates and how much money is coming into our system, because when money is cheaper and when money supply goes up, you tend to put It in higher risk plays such as crypto such as meme stocks, such as other high risk high-risk, high-growth tech plays that's the correlation, not the correlation, necessarily with the spy chart jim cramer's, our negative beta, i joined ttg. Thanks to you, i'm going to crush it. Man, people have been killing it in ttg uh, they have a meeting tonight and what they're going to be doing? Actually, i just got a text. Let me give it to you blah blah blah.

Okay. It is at 4, 30. 4. 30.

4. 30. 4. 30..

Uh. Let me get you all: a link hang on, i'm just opening it up here. So a half hour after the market closes literally in 30 minutes. If you want a different breakdown of the market, it is right here uh here it is, i'm dropping the link right now, uh, so that link.

I just dropped into chat. This link uh, it's free! It's free! It's free! It's free! So check that out. I just dropped it uh on rumble on youtube. It's at 4 30.

uh mike the head trader over there will be doing a full on breakdown of the fed meeting, what it means, what it doesn't mean and then he'll give you an idea of how he's going to be training this for the remainder of the Week, like i said it is free, it's at 4 30. So it's in 30 minutes uh just follow that link that i posted. So if you just want an additional breakdown, he's been following the fed stuff very, very, very closely um. So i wanted to give that all to you so for me, i'm going to be paying close, close attention to tesla earnings um.

I am actually bullish on tesla, but i own puts right now because i'm in a silly silly position that i have no right being in whatsoever. So i'm going to be watching this and seeing how this all plays out. But time will tell time, will tell overall. I truly truly appreciate the support you folks are all beautiful, beautiful moon gang apes.

Thank you. Thank you. Thank you. I will catch.

You. 9. 00 a.m. Early tomorrow, crack of dawn 9 a.m.

We will be prepping for the market day and then we'll be watching the market opening remember volatility. Now that the fed meeting's over that doesn't mean it's necessarily. The volatility is gone uh there are going to be many people who didn't pay attention really to today. They're going to read all the news and they're going to make decisions, so i'm expecting a big influx of volume and volatility, particularly out of the gate tomorrow.

Thank you. Thank you. Thank you. Your support is absolutely phenomenal.

I will catch you tomorrow morning, whatever you're doing whether it's your morning evening night. I hope you have a great one enjoy your time with your friends and families and as always from chair and myself best of luck in the markets, you.