Thanks. So here's my lightning produced session, I kind of quickly whip something up. We've been working on just in time presentation. It is yes. I've been working a few different on a few different things and in particular I thought this might be interesting but instead of talking about the technical side of some of the stuff we did is more of the genesis for it. So today's topic that I've selected here is how we designed the design system. So we built something called specific theme which I'll talk about in a second and this is more about the precursor steps to how we got to this kind of place that we have a product and a design system. So today I'll try and cover some of these topics as quickly as possible is not as many pictures but there is a demo of a Figma design file and a design system itself which I really want to kind of show you more so than this is kind of the interesting but yes less boring. Maybe less interesting I don't know depending which parts you like more there's some background to it and then we'll go through a demo towards the end feel free to maybe keep questions at the end. I don't know how normally works. Okay, so a design system so the problem we were trying to solve it was that we had. There were a lot of projects that we were obviously working across with government in particular that we're all kind of doing the same thing and specifically trying to come up with design patterns for new sites and that was a repeated pattern that we were seeing across all the projects working on and it was kind of things that are kind of common that we found these patterns across many projects are working on and there's always a cost involved in developing every single time from scratch from the base right so there are high development costs and you do have to build these things over and over again. And each of those things as you build them takes time as well so having to do the process coming through kind of a visual design with the design agency, building the visual theme itself then getting it validated and tested and building it out then also doing accessibility and compliance and other things takes time and cost. And especially when you were kind of building bespoke visual designs or themes in the earlier especially with govcms in the earlier versions. There was kind of a UI kit, which was very useful but with the D nine govcms D nine version D nine for govcms didn't come out with a visual theme at all so we were looking at you know what can we do to kind of potentially help with that so some of the work that we were doing. And also if we found there was a lack of consistent user experience, as I mentioned with the accessibility standards and other kind of UX standards and best practice. And with some of the solutions that were out there, there is a lack of flexibility and potential scalability for what there was. So, we kind of came up with a vision for a design system, and we call it a civic theme. And civic theme is an open source design system, which aims to provide a quick, easy and cost effective solution to building new websites. So out of the box civic theme will be able to deliver a high set of components, high quality set of components and features that can be used immediately. And web publishers and administrators so non coding people can create and manage page designs and layouts without encoding. And some of the things that we found or we kept hearing from a lot of government agencies, specifically that they needed to always engage or not always but quite often engage a design agency or a development partner to be able to make changes to their sites and whether that's a template change or a layout change or something else. And the flexibility within the design or the website itself was very limited and very difficult for them to manage ongoing. So, we decided to do the civic theme as an open source project, and the design system itself is developed is developed and has been developed by and maintained by salsa. We're about to go live with the first version which will then be fully open source right now there are elements of it that are open source a lot of things are available. We have a site at the moment, so we've been dot IO which makes the code base and the pigment design files available online as well so all that's kind of open source at the moment, and we're on a kind of a pre launch version. And these versions have been used by some projects and we're testing everything out. So, how do we go about designing this we did a kind of a four step approach to this, so we did some work to do some customer research, and also do some user experience testing and auditing of existing God see this websites. They kind of give us an idea of what what we were trying to look for and what patterns as I mentioned earlier that we were looking for as well and what would be common for the design system to be able to serve the client base or the audience. We also found it was quite important to kind of ground all the work we were doing and using the Australian government or the now decommissioned government Australian government design system. That's kind of a base that was already used and well built, well designed, thanks more to the old kind of help out with some of the UI kits stuff there in the earlier versions. And it was and it was quite a good base for us to kind of look at what is there now and what components can we uplift and build into this design system as a common for the common library. And so then we also used our UX expertise and kind of uplift the design patterns that were there that we could find. What we did is we did user lead user research based on project led development so we were able to create standard product development approach and then we coupled that with project led development so we have several kind of early stage or initial clients that worked with shaping civic theme. And the clients that we kind of worked with quite a while ago this would be almost two years ago now is CASA, so the Civil Aviation Safety Authority, and they did probably the earliest work with user research designs. And so they worked on these designs had them tested with their design agency at the time. And then we also use the feedback that we got from updating these designs and then fed them into what civic theme could potentially look like as we went forward as far as the design goes. To probably mention that the civic theme system is built on atomic design. So it's kind of a modular approach, but I'll kind of show you that once we get into the demo itself. The other one of the other clients was the Australian Energy Infrastructure Commissioner so the Ackley site. And this adopted the designs kind of in their early assessment and discovery phase which we then refined and then fed into the frequent designs that we end up using. And one of the other larger more robust sites that we were able to test it was where there was the Office of National Intelligence. We used user research designs that we worked with an agency so design agency to kind of validate some of these. And at the end these were actually contributed back as and built as a part of a theme for the site itself, which was quite an intensive process to do kind of iterations of testing and kind of implementing and then refining. And so those final refinements were kind of collated and put into civic theme MVP so that was quite a good process that kind of battle tested some of the things that we're trying to do. I'm kind of scheme kind of through these a lot of words on these but basically this was just what we ended up designing for the Figma design tools so in Figma we used Figma as the online tools that was available for everyone eventually to be able to use as open source. And within the kind of initial outputs we just thought that it was quite important to have kind of a set of outputs to drive the project as far as the design system goes so we built design templates. These are desktop and mobile ready and responsive and publicly available in Figma the app and we have the actual design systems as I mentioned before we've got the atomic design based system with structures components. And we also use storybook and I'm not sure how many people are familiar with storybook, but it was a this this way we can actually kind of show and get anyone to kind of use and play with the components and structures themselves without having to spin up a site. So storybook allows these components to be able to be viewed previewed and tested in kind of an online environment without having to run up a separate site so it's kind of a library of all the components available in the design system that you can use and see and actually play with and I can show you that later well. The usage and adoption guidelines for the open source project. We also put in a contribution give back guidelines again for open source getting started pack components in the library itself it's a CMS agnostic UI component library for the dreamers and theme is out there. And we also have the actual Drupal theme as well so the first iteration that we built was a Drupal nine theme. And it was obviously to meet as many of the Drupal govc mess compliance that we had clients that we had in all the projects for the the impending end of life for Drupal seven. So I'm going to jump over to the demo in a moment. And what we have is we're not sure how many people are familiar with Figma Figma is kind of an online tool that allows you to do designs but also allows you to build prototypes and it's quite a powerful system. And we use that as a the choice to be able to work collaboratively on this particular project so we have a version of Figma that you can view and use but you can also kind of comment and tag and their instructions on how to actually contribute back. So I am just going to quickly switch. So it will run in a web format as well I actually have the download of this so we have the design system. And here we have a few different pages the pages are down the side there, but in particular we have how to use this particular library, what's in this library, and how to kind of get oriented to, to how it works. Now this is an earlier version that's a new version coming out imminently which is the next week or so. And actually does change this around quite a lot so I'm not going to dwell too much on how this looks at the moment it as it is actually being changed considerably, especially how the color palette is set up. So it is quite different now we've done quite a lot of testing and both with clients and different projects and the way that it works the definitions and everything else has been kind of evolved quite a lot. And so this is just the instruction so I'll kind of skip over that there's also instructions on how to actually contribute. So, what I make this is open source and community friendly as possible so the instructions and drum roll. Design system. I can. Okay, so you can see there's quite a few screens so each of these kind of tabs I will zoom in the second contains different elements that we have in the atomic design system so something design system breaks down things in the atoms. We've got molecules and organisms so you kind of have a build up of individual atoms that go into building up the organisms and molecules themselves so got structure we've got spacing and grid so if you have the design system it already has all this built in and consider it in considered. So the components themselves kind of do comply with these kind of basic setup things in the actual designs as well so. In the newest version which was soon to come out you can actually change these colors. And this will actually flow through the design files themselves so you change this color and your palette and you can actually see the components and test out the components and see how that actually works so kind of flows down from the palette self here the primary So that way you can test and apply your own palette or a new palette so good for projects that may not even be designed yet. The designers can actually use this download the files. We actually did have client ask for the design files for their projects so they have an in house design team and they're actually using the design system and the figure files to actually build their own and design their own project. I know you said questions at the end but could I ask a quick question. I don't want to interrupt your flow too much. Just on that so that's really cool like you know I'm you know agency X and I've got my own color palette and I want to configure civic theme for my colors. If I was to do that and start building out my my version of the civic theme. Am I at that stage forking to figure and why I asked that is you know salsa develops civic theme as we go along and if I fall to how do I sort of get the new features that are downstream or later on. Is that actually not sure if I have to play my question well enough but no no it's a really good question I am going to get a confirmed answer I guess when we go live with the latest version. So at the moment I guess what you would do is take a copy of this and then retain what you have for that and it depends on how that design. If you need to use it again for another project or whether it's a one off like once you get a copy it's for that particular project. In the code base it's different in the code base the changes that go to the core figment designs filter downstream so they'll filter through from the designs. As things get accepted through the open source project. There are contributions made once they're made to the original core design files they go down to the code base. But from a from a design file point of view if you take a copy of that it's up to you whether you want to keep maintaining it or whether you need to. Or whether you to take another copy so it kind of depends on how the project gets used from a client point of view. Okay, thanks. I'm not sure the actual linkage right now as far as how you can get an update on it. I'm going to find out once the new structures built because I think some of those linkages may or may not be there. So in the typography you can adjust this. It gives you an example of different types of. Once that are there and how they look specifically. And I'm going to scheme over to this icons but more importantly what we do have is the components themselves so. What the buttons would look like in different states. And this is still the atomic design it's lots detail in here. And it goes over all the way across to headers and footers and menus. And bottom menu so you can see what the photo menu could look like. And these are just the molecules and organisms as we're moving through so you can see there's the typography is being added to the next part of the next part building up these functional components.  Or even configure so you can pick a card. And then you can make it in or select it as a news card or a event card. Or a project card or a service card or a topic card. And then there's another set of navigation so if you depending on what you select. You can actually adjust the input within the cards themselves so in. Now that we've actually built the design system as well in the design system in Drupal you can pick hey I want to use a card. You then select the card and then it gives you the fields that you can put in there. And then it will actually display them so you can actually change these and use not all of these necessary so the way that this is also built is that there is a concept of kind of slots within the card itself. And within the card itself you can choose to turn on and turn off particular slots. What that does is give any developer or even the managing team that the web content team to actually change and adjust the actual content of the navigation tiles and components themselves without needing a developer. Just trying to find where it is here I think it's further down but. I'll explain that. Yeah I'll show you in a particular one so. So in the back end you can actually go in and change that you don't need to show that. All this or the state for instance and you can switch those around it gives you the flexibility to adjust and kind of customize some of these cards to suit your site. That way there's a bit of customization and flexibility within the cards without having to go to a developer and add new fields for instance. So what we also did is lots of lots of items there there's also alerts message global alerts navigation items. Now the other thing we also did is create is a kind of a flipped version so a dark version of dark variants. So if you needed to use. Any of the old colors or variants you can actually see what that would look like as well. Now these are all the molecules and components individually. What we also did is we put them together in kind of preconfigured states to show as an example what the pages would look like once they're actually in place. So again if you were to take this design file adjust the colors and palette to your own. This would actually flow through and change the buttons and the components here in the design system itself so in this kind of figure file environment. Which makes it much easier for you to actually test what you're looking at. You can also move these around these are actually components and they've been designed in the same same way or similar way to how the component system would actually work on a page. So here we've got a white header with a banner component and some cards here. There's an old version with the dark background and light colored cards. There's the same two variants with light and dark theme to show what they could look like. And we have lots of variations of page headlines mobile version and then the actual footer itself variations of the photo. And components on a page hero components nav card components. This one's also got some secretary buttons on there. And there's quite a few pages so nav cards upon nav cards listing pages listing components different types of listing components all the different variations. So this is all available in the actual design system itself but also in the code base so when you get civic theme build. You have all of this out of the box. So the intention here is that you can start up a site very quickly with minimal development and coding and start at a pretty high level to then just replace the images obviously add your content or migrate the content in. And the design and the visual theme and accessibility is all being covered. So part of the project that we had we actually do have accessibility compliance statements. So part of what we did is we looked at the individual components there and did a test on each of those which you can replicate and try yourself if you make a variation to it. But also says what it was but also there's a rationale against the Australian government design system about why we listed it. Why we think it's important and what the differences are potentially with each of the components. So all of those compliance statements and other details are actually on the civic theme.io site if you want to have a look at it. But the Figma design files are all here. There's quite a lot of componentry. I think there's about 60 different components and then there's variations that you can configure without coding in the actual site itself in the admin area. So then you can actually see these pages in context of the desktop. So home page. That's what a home page could look like. You could have a kind of a landing page there. So this has no content. The category of pages. What a content page would look like with a side nav and content. You can even sign up to newsletters. You can actually connect to whatever EDM or email direct marketing system you want as well. Social icons. Navigation. In mobile. So the same thing. You can see what it looks like in mobile. So all of these considerations are kind of pre-made within the design system at this stage. And then these all flow down to the code base. So when a client uses or adopts or uses civic theme itself, they can use this as a base. If they're happy with that, they can just keep using it as is. The open source nature means that any updates to the core will actually get flowed through. The way it's architected is that any changes that are made up based on a sub theme, I believe, and CSS changes. And then the base where it's updated, but your changes don't get overwritten. So it makes it a much smoother flow for updates. But then again, on top of that, if you really wanted to build or extend the components, you can do that as well. And if you wanted to fully customize or create your own, that's also possible as well. So the intention is that civic theme provides a really high base for you to either keep or build upon. I think that's pretty much it as far as the demo goes. Are there any questions that does anyone want to see anything specifically? Everyone's really happy. It's great. So I will switch back to presentation. Almost over. So the outcomes and bigger picture as I mentioned, we've got, we've produced the design system as figment designs. And now we have a chance for high quality, consistent, compliant designs. We have a lower delivery cost. The designs that we have much quicker as I mentioned is out of the box. All of those are available. Greater consistency and consolidation for user experience. Low as a gap in cost for adaptations. And there's also greater adoption for default design. And this is the key one is reduced maintenance burden. Because if it's an open source project, then there's a lot of the maintenance is managed by the house or the community. As far as it goes for different groups, content managers specifically can get developed a site that's quite sophisticated with pages without needing a developer to build or manage templates or even pages. They can literally build a page, configure it, move the components around on the page. Either make it a standard content page, make it a landing page, etc. And they can change things around and even with the way that this built that you can actually have content and you can have even the components within that page as well. So it doesn't just have to be content or a component based page. It can be a mix or a blend of whatever you need to have on there for site builders. It's easy and simple to assemble with that large library of components ready to go. And for designers, let's focus on customizations and more on user research and UX. So you can use the design system here to actually modify components to look at the IA specifically and not worry about actually trying to build the components themselves. From a design point of view, as far as movement goes, but even in rapid prototyping, we can actually build civic theme in about 20 minutes in a sandbox environment. So you can kind of put in your site details and it will spin up in 20 minutes. And then you have basically a rapid prototype. You can build out the IA, you can adjust the menus and do what you need to. You can create kind of variants and you can AB test them as part of the user research before the actual site gets finalized. And then for agencies, there's a large cost reduction and agencies in this case government agencies in particular that we've been working with quite a large reduction cost. You don't have to build the site from scratch every single time. This is a high base to build with. You don't necessarily have to do all your design and UX from a design agency. If you want to move things as is quite an easy way to update the design. So the branding them pretty quickly within the design system itself. As I mentioned before, so the design system is linked to the actual build itself changes and figure design system files flow downstream to civic being code base when they're made. And the current system is kind of pre release and it will be released very shortly. And we've already used the civic theme design system in six projects with several more and developed at the moment. And it's based on open source community so they can contribute back to either the code base or the design design file system design system files. Thank you. Any questions? I've got some questions again. Yes. Okay, if I just dive in. Absolutely. Okay. Cool. So question number one is, are you then using the Drupal implementation for your sort of prototyping? In terms of programming as in the design system itself. Yeah, we've actually built. Yeah, we built it in Drupal. So it is, although it's CMS agnostic at the moment, the first iteration is Drupal. And we've already built a GovCMS version. So it's kind of optimized for GovCMS. But we have got it's basically just Drupal. So it is agnostic from programs per se. Okay. And like I've noticed on some of the other Celsa presentations that you guys have been leaning towards like a single sort of mega content type. Is that still the approach or? It is. Well, it's debatable. We've had many discussions. And what we have done for Civic Theme at least in the design system itself, both in the design pigment designs and also in the build, is there is just one content type. However, you can actually modify the content type and what we're working on as part of the release is kind of a profile builder. So you can kind of pick and choose the components you want as a preset. So if you want it to be news, you can kind of preset elements. That optimize that for a news type or another type because it is quite flexible. You can kind of just switch on and off different components and elements in there. And okay, so then my next question is, are you using like a base framework like Bootstrap or is this something completely from scratch? That's an excellent question. I may have to lean on Alan to then help. I believe it's Bootstrap. From scratch. Okay. Very interesting. And do you have any comments about the sort of retirement of the Australian government design system? General comments. It's interesting. I mean, yeah, so that was interesting to see how, I guess, when it moved from DTA to extra and design system, they decided to retire that. And it's also interesting that govc mess decided that they didn't want to put anything in place because there was obviously maintenance around that.  So I guess what we were looking at as well, this at least helps with at least our clients and hopefully others to kind of maybe build upon what the DTA of the joint government design system was trying to do. Okay. And in terms of the civic theme because clients can change the colors, like the background of cards and the front colors. How do you enforce WCAG contrast compliance and things like that? So there's really a few different discussions on that, whether we can put a color checker in there, et cetera. But there's not really a force of compliance. So there is a degree of designers probably as far as the design system in the palette goes, you either bring a preset palette. But if you're designing from scratch, including the palette, then I guess there would be some testing that you would need to do to ensure that that actually works. The normal kind of testing once you have the designs, you do your normal checks for accessibility color contrast, et cetera. So there are no preset color sets per se. But yeah, it would be the normal kind of design process to ensure that that works. Okay. And are you following like the primary alt, dark alt approach, or is it not that rigid? It was initially, I think in the demo that I did show, it kind of displayed that. And the new version is very, very different. We kind of just weren't completely different from the primary, secondary, tertiary. Now the mapping to the colors is very, very different. It took weeks of testing playing. Yeah, imagine. Because we even went from this and did variations of this and just test it out, but it's actually completely different.  So this kind of primary, secondary and accent color and it would apply it. But what it would do also is kind of apply variations, automatically apply variations from the primary color and add neutrals to components. It did make it very tricky to kind of nail down what the colors were for particular components. So although you've got these primary component colors over there in the palette, when you look at the components, where am I going to look at to show the example. The banner is what I'm trying to find. Actually, the banner was a different color. It's not on there now. Oh yeah, these dark ground. This is it here. So the banner, for instance, to make it easier to read was a variation, a darker variation of the original color. But then people are going, hey, but that's not my color. You know, it's not my palette color or my brand color. It's off brand. So just that kind of experimentation of how we do that. So the color mapping is completely different now, but you can override it. So this is kind of a starting point. So as far as the components go, you can override components individually and kind of map them to work better with your palette. Thank you. It's really exciting. Thank you. I can imagine there's a lot of work that's gone into this. Yes, great to see. Okay, maybe I missed it, but did you, did you announce the release date tentative? I haven't mentioned a date. Imminently was, I think it's next week. What is the date actually? Because I've tried not to look at the date. Yeah, next week 19th is what I've heard. Yeah. So rumors are that the official release date is the 19th of September for the new version. And that's the remapping of the design system, but also we should be releasing the code base update as well. This version of civic thing as well. So how much time do you think this approach is saving you guys when you're doing a new build? Like in terms of percentage? Oh, as I mentioned, we can spin up a civic theme site in 20 minutes. And that's in hosting sandbox environment, fully stood up. So you can use that as a base. So it takes 20 minutes to spin that up. And I can even show you what that could look like. So here's the civic theme. I have kind of a marketing site as a very early stage. But for instance, the default. So in the process, we have another product called launch pad. And that allows you to kind of set one up. But once you follow launch pad, it spits this out. This is basically the site that you get. This is the standard out of the box site from here. You can modify obviously the palette, the background and other things and start adding your content. So there's no build per se. So you kind of save as much as it takes you to build. But in particular, what takes time is these kind of components where you have you've got listing or cards and other things. So you don't have to build those. They're all pre-built. Including the menus. Yeah. Julia worked on a GovCMS project with civic theme. I can just say that the initial team implementation becomes super, super, super easy. I don't have a percentage. But what we did, for example, there is a project that is about to go live tomorrow actually. And it's a GovCMS project with civic team, civic team team. So we just went ahead and install civic team. Of course, then we created a sub team, which was the project team. And that's where we started applying changes. The client was pretty much happy with the default core civic team stuff. Only some of the things needed to be changed. So that was super, super quick. So I'm trying to understand the connection between the Figma file and this. Do you make the card, for example, the card changes in Figma and that then flows through into the install? So there are two components to this project, this work thing. There's a Figma design. So the Figma designs feed into what the actual code base will end up using. But to manage the design part of it, we test and kind of implement it in the design system, the files, the Figma files, and they flow through. So if people have improvements to make or we find improvements from a project from the implementation, we add it to the design system in Figma. And then that flows down to the core. Right. Okay. So the Figma design files are the kind of source of truth for the design look and feel. Yeah. I want to play with it. Can. Let's go to civic theme.io. I will do that. And you can also, I think the civic team, the GovCMS team is also open source already. So you can just go and download that and play with it if you want to. Can I have a question? Yes, sure. I come from like Bootstrap. So I worked on a site where I was, the client was really concerned with keeping the footprint of the CSS and JavaScript pretty small. Right. So in Bootstrap, there's a whole bunch of like components that you can use, but if you don't use it, you can just not load the CSS for that. So can you do the same thing instead of being like, if you don't use some components, can you just not load the CSS for that? Do you want to overgo this one? Yeah. Yeah. So I haven't seen the civic theme code for a while, a couple months, but last time, I think everything split into SAS files, but there is a single web pack, which is going to put all the components together. I ended up with one CSS file at the end of it. So I think it would package all the components together. I guess if you want to use, the other thing is it's got an interesting base theme sub theme implementation whereby you've got your base theme and you extend it, but then you can create your own components. So part of the build step, it's going to get all the twig and CSS and JavaScript from the base theme and then overlay any of your customizations and then compress it afterwards. So yeah, I think chances are at this stage, it probably has, if you only use a few components, you'll probably get the whole set. But that's something that we're always looking to. Okay, cool. Thank you. And what are the lighthouse reports like on these sites that you're building? That is an excellent question. I would have to look back and I guess there'd be another, there'd be a later or a newer set of reports because the latest design file design design files. That's a good point. I need to check what that is. But it is, we try meet double a accessibility. I'm not sure if anyone else is going to answer that better, but yeah, they're, they're, they're made to be compliant with double a accessibility. So we will test them and make sure that they comply to that. Lovely. Thank you. I'll stop asking questions. That's good. I'm actually trying to think of where it would be on this site. I know there's compliance in here. Compliance.  Yeah, trying to find something on the page. Okay, I'm going to leave that page for now. But yeah, there's a compliance statement on here as well. But I don't know if you're not sure if you noticed in the background I was playing with the storybook so you can make the adjustments on the flyer there. Yeah. Specifically because you wanted to play with it. Did you look at that storybook thing that like it was doing. Yeah, yeah. No, it looks good. It's great guys. Thank you. It's been blood and tears and sweat. Huge. Alrighty, any other questions from anybody else. Thanks a lot. Okay, then I'll stop recording now.


medical school is so difficult that you won't have any free time. This I, I want to completely disagree with. I like to think of studying the degree of medicine, just like studying pretty much any other degree at university. You're going to have times where you have to do a lot more studying and things are going to be more intense and you'll have less time to do the activities that you want to do. But generally as a whole, as a degree, you definitely have time to do all the things that you want to, like extracurriculars, hanging out with your friends, having a social life, relationships, et cetera. I would actually argue that the first couple of years of medical school might be even easier than traditional life sciences degrees because you don't have as many assignments and exams and essays running throughout the year. You just have these really big exams towards the end of the year that you can absolutely have a complete life outside of medical school. You can pursue other interests like I have this entire YouTube channel. I still play all my sports, still hang out with my friends, have a great social life, relationships, et cetera. But as a whole, I think you'll have as much free time as any other degree. You just have to know how to manage your time well so that you can make the most out of the free time you actually have.


The following is a presentation of TFNN. The TFNN Bull Bear Training Hour. Every training day, live at 10 a.m. Eastern. Call now. Tolls free at<PHONE_NUMBER> or internationally at<PHONE_NUMBER>. The TFNN Bull Bear Training Hour. Now, Tommy and Tommy O'Brien. Welcome, folks. Appreciate your growl and improbable to sell it here. We have the Dow Industries up 11. Now it's like up 32. S&P's up 5 and 1 half. Gold. Gold's flat, $14.98 an ounce. We have silver down 9 cents, $18.08 an ounce. Light sweet crude, up 29 cents, $57.69 a barrel. Notes and bonds. You get the 10-year down 8 ticks, $1.29, $29.30 a year off 22 at 1.60, 25. Now, what's going to get interesting there is that you did have volume on the way down yesterday in that note and bond market. Now, it was still lighter volume we were going against. It looks this morning. We'll pull it up and we'll get going here. It looked this morning about an hour ago that the volume was contracting dramatically, though. King dollar. King dollar, $368 ticks trading at 98, 225. The euro is at 109. The yen is at 107.74. And the pound is at 123 to 1 US dollar. Let's get over and take a look at these small caps. The news, Kevin was talking about it yesterday. We were talking about the rotation out here. Yes. And it's pretty dramatic. There was an article last night that this hasn't happened. The amount of move inside the small caps yesterday, starting what was it yesterday? Monday? No, starting Monday. Probably, you can see the movement as in Monday, zoom in today and go for it. Monday, and then yesterday. This is about the most dramatic move in a rotation that the market has seen in like 10 years. And this guy, I believe it was a guy from Morgan's family that was coming out when he was talking about it. And what he was saying, or maybe JP Morgan, what he was saying is that he thinks it's only the beginning of it. That they're selling the momentum stocks, and they're finally looking to go after value. So we'll see how that shakes out. Because yesterday, the Russell was, man, up mammoth numbers. And the rest of the indices were pretty close to around flat on the end of the day. Exactly. So if we go take a look at this, what you're going to see is that now the IWM granted, it's high as a year ago, July. So this is not the best thing in the world. But the bottom line is that look at that volume, this thing, 29 million shares. Now you're going against 38. But that's still not bad when you're basically getting into a supply line, you get that kind of volume. That's a big number. If we take a look at the NDX100, you take a look at the NDX. Bottom line is that it just doesn't have it. You don't see that type of expansion. Yesterday we actually went low with 23 million. We'll see how this handles it today. So that's going to get really interesting how that whole thing shakes out. You do have the rotation happening. Real question is going to be, do you get the rotation and then they all go south. Notes, now this is pretty cool. OK, so this is something you really want to wrap your head around. So we're in the Z contract. This is the 10 year. And what you're going to see is that we had a big expansion of volume yesterday. I mean, that's 2 million contracts. Now when I bring up the contract that we just rolled from, you're going to see that we're going to get 2 million, so it's still less. But any time that you do see an expansion like that, it's like, OK, we have sellers, yeah, they sell us. The real question is going to be, the low of yesterday was 129, 26. So we got below that today. And are you going to get the 2 million contracts? We'll see. It's still early and it's 883 right now. Which is some contract volumes, no doubt about that. We work. Yeah, you were talking about we work this morning upstairs before we came on the program. And this is pretty intense, folks, OK? So there's a couple of really good stories out here. The first one we could put, the Founders Fortune plunges. Yeah, I don't have too much sympathy for him. I'm sure he's still going to be doing just fine. He is. He's now, now they figure he's at 3 billion, you know. Where are you? Go ahead, because I see 14. OK, so that's 65 billion. They're talking about the gold. That would have pegged him. OK, then let's just go through it. So what had happened, folks, now this is really intriguing. So whether it's, I'm not sure whether it's two months ago, Goldman had pegged this when they were pushing out that they'd have to get 65 billion as an IPO. That would have pegged him at 14 billion just on that part of it. OK, for this 22% stake, cool. And that would have put him into the top 150 richest people in the world. Pretty remarkable. But never good to start a sentence with bonds. It's going to be more modest. Still, 22% of the company just do some good sites. And then there's the next one. It's going to be at as low as 15 billion now. That would leave Newman with a stake of 3 billion. I don't have too much sympathy. And that's where we talked about these stories yesterday, where he tried to capitalize on the rights to the patent or for we for $5.9 million. So he's just nickel and diming to him.  I'm going to give that 5.9 million back because maybe there's some worry that I shouldn't have done that. And there's great worry. Yeah, listen to that stuff because that means nothing. What else is going on? And that's why maybe as low as 15 billion corporate governance problems, no profit. Now, what's really cool in here, folks, and this is where we were kind of talking about this yesterday, as you just said about governance in general, and what you can push paper out at. So picture this. This came out last night when I was on the air. Regulatory filings show that one of the earliest investors was Fidele investment. They cut their valuation of We Company to 18.3 billion, guess when, folks, in March. So all these banks knew this. But yet they were basically going to push, push, when you read the full story about how they cut it, they cut their own value. Fidelity has gone in twice. Once they were at a very low price, the second time they were at a higher price. There, whoever decides to do that, I'm not sure how that works. Bottom line, the thing that's really, what I really love about that is that Fidel has a great name anyway, OK? Yes, Fidel, for sure. So when you mock to mock it, because if you and me were an investment in one of those funds, which they are, it's kind of neat that they were way ahead of the crowd, and they cut that, because that's what shows up in the statement, folks. That's the bottom line. You get to borrow against that. You can do a lot of funny business when I start. But guess what? It's come to Roost recently, where you can only do that for so long. And so the other side is that you can always raise it when the IPO comes, right? Then it's a huge windfall, as opposed to, if you put it on your books, at even $47 billion, which would be a fair estimate, because that's the last round they raised at. So that's not funny business. No, that's right. They had done both. And that's why most companies would just keep it at the last round of funding, because that is the last time that it was marked to market on a real scenario. But they weren't even comfortable with that, which says a lot. They weren't, you know. And so it's pretty wild when you think about it that it was out there the whole time. And now could you imagine if you were ready to buy into that IPO in another institution? And then all of a sudden, you find out that the bank has been basically saying to you that, hey, this is worth this. And then you find out the fidelity it marked is down to 18. Because they marked a loss. They paid more than that. So they marked it. Crazy. We'll have to talk about it even a little bit more, because it's remarkable that they've raised more than $12 billion. The market might only be worth $15 or $16 billion. And they get into this $5.9 million down here. We talked about it. We'll finish it up after this. Stay right there, folks. Tommy and I come right back. If you're not currently using the Taz Profile Scanner when looking at setting up your trading opportunities, then your arsenal is short a mighty weapon. The Taz Profile Scanner is a standalone piece of software that instantly filters over 2,500 global financial markets, such as stocks, ETFs, commodity futures, and forex. Heated by Steve Dahl, Taz understands that in today's technological world, the use of top flight software applications and technical analysis expertise is essential to successful trading in today's market. You also gain access to the webinar that Steve Dahl and Tom O'Brien just hosted, the best way to use the Taz Profile Scanner to profit. 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Details on The Tiger's Den are on the front page of tfnn.com. TFNN has launched our brand new website. You can still visit us at the same tfnn.com URL but when you do you'll see a new and improved homepage with a much simpler navigation whether you're watching Tiger TV live in high definition or just accessing your newsletter subscriptions. We even have new pricing in six months and yearly options. Check out the new tfnn.com now and experience all the upgrades. TFNN.com educating investors. Call now. Toll free at 1-877-927-6648 internationally at<PHONE_NUMBER>. Welcome back folks. Now it's up 33, Nasdaq's up 44, S&P's up seven and a half. Gold's up three bucks. We'll see if that's the size to catch a bid. You get the notes and bonds. You get the 10 to eight on five ticks, the 30 off 16. So it's gonna be a big day out here in the notes and bonds when we were just showing you the amount of volume that we had yesterday. You know, we've tested that low out here now. If we can get lighter volume, we get a rejection of price. Okay. That would be like, okay, man, we get action. Speaking of action, let's finish up that conversation because I couldn't help just keep digging into this article. So there's a number of things here. So since it's founding, we company has raised more than $12 billion. It might only be worth 15 or 17. So they're gonna have as much, you know, it's amazing that you can raise $12 billion. I mean, I could raise $12 billion and guess what I'd be worth? $12 billion because I'd have $12 billion sitting in my bank, you know, that's raised. Unless you're buying things and getting lost, which they have. Right, right, right. Yeah, you can always have debt. But I'm just saying you could raise $12 billion if people would buy equity in your company for $12 billion, well, then you'd have $12 billion sitting in the bank. And that's what the company's worth. $12 billion. That's good. Right, right. It's like, it's amazing. So they, and this is where I started to talk about it. So one of the things the company, formerly known as WeWork, bought its current name from the two founders, Newman and McKelvey for $5.9 million. So now it's called We Company. Okay, so imagine. And they were on the floor. We're TFNN. Imagine we're TFNN and we're like, we're gonna change the name to TF. Right. Well, guess what? We're known TF though. I didn't mean he was selling it. And we'll sell it to TFNN for $6 million. You can have the name TF. That's basically what they did, folks. Pretty remarkable. And they got caught doing it. And so they said, ah, we'll unwind that. We'll wind that back. We'll give the $6 million. Yeah, that's worrisome because they don't care about $6 million. Okay, they care about $6 billion. And that's where it gets down to the next line. Okay, so that they talk about several arrangements around scrutiny. Newman maintains voting control, three class share structure, that a little bit in its own right. You should be skeptical when you're buying equity in a company and you don't have voting shares. And then you really get down that the firm rents space in four buildings. Got it, did I miss one? Yeah. Oh, I did, the last part of it. And in that, he's been criticized as borrowing the firm's money, leasing properties he owns back to the company and selling chunks of entity equity before the IPO. Sure. Great CEOs that truly believe in the future value of their company. Like Zuckerberg, to his credit, he was not dumping shares ahead of their IPO. Now he has his own problem with corporate governance Zuckerberg. But then, so here, the firm rent space in four buildings owned by Newman, according to the, or according to the prospectus, this isn't just, you know, speculation. It signed a lease on three of them the day he obtained the stake and committed to being a tenant in them within the next year. So he buys a building hours later. He has, we company, signed the lease that they're gonna be a tenant. And if he's borrowing money from the company to buy the building to get the lease. I mean, just, you know, and then add on top of that, it's one thing if you're plowing into profits, okay? No, they're plowing into losses with the CEO being totally conflicted with investor money. And then, I mean, this deal with selling that, you know, that's outright robbery. That's basically stealing $6 million from investors, in my opinion, where you say, you know, we're gonna change the name and you gotta pay the CEO $6 million to change the name. That should be criminal. They need a little walk in the hall money. It should be criminal, man, it should. So yeah, they unwound that. Nonetheless, man, we'll see how it shakes out. I think it's gonna continue to be some headlines for sure. So we get oil too, right? We sure do, man. It is Wednesday. Let's pull this up. We're gonna get that oil out. And that oil market's been moving, man. It sure is. And for some reason, this isn't letting me. We'll have to jump back to it because you've seen that. We'll refresh it maybe, my screen. Let's see, we're refreshing the screen right now. There we go, we're gonna get it. Okay, we'll pull over the terminal up here. We'll close out some of these screens. And it is 10.22 right now. We're gonna jump into commodities. We're gonna look at crude oil. Talk about a market with some volatility recently. We're gonna see $60 oil, man. 160 dollar oil. We've been closed. And I almost hit it yesterday. It did. We'll back it up again. Now you were ahead of it, right? No, it's Tuesday. We were up to 58.75. I mean, talk about within almost a dollar and a dollar in oil. We then, we go from 10.45 yesterday morning, about 24 hours ago, and you drop more than a buck 50 by the time 230 rolls around. And then we're back up to above 58. So you got oil trading, 57.65. We're looking at the October contract. Again, we're coming into those 10.30 EIA numbers. Let's take a quick look at 11 a.m. What kind of volatility? We're gonna have priced into these options. So we're gonna have 57.25 or $58 is our ability at 11 a.m. Kinda equidistant away from those. We're looking at about 30 to 35 cents away. Now again, if you're just looking directionally, that's where it's actually a nice sweets box. You're not paying a ton of premium. Let's just say you're bullish. And we've got a lot of movement in that market. Definitely. And this is where you're only eight pennies away from market. Now seven pennies away from market, you're buying a 57.73 and you're basically getting a two to one risk reward where your losses are capped to 57.25. You have almost a full dollar to the upside. And for that risk reward, that's where you just have to make, you know, decide for yourself. You're buying it at 57.75. The real market's at 57.68. You're buying it at seven pennies above the market. Not a bad trade with the earnings about to come, though, in my opinion. And the same thing would set up on the other side, which is not bad. But let's see where we line up on the noons. Okay, noons are gonna have 57.75. That's a lot closer, right? That's about seven eight pennies. So there would be your bullish spread. Now this is where, again, the last trade we looked at was only about seven pennies away from the market, right? This is why now the risk reward is gonna be a staggering more like five to one, six to one. But by doing that, you're also paying 30 cents above premium. And that's where it really gets tough, right? The last trade, much closer to a futures trade, you're only paying seven pennies above market for a two to one. You wanna be risking 20 to make 130. Well, you're gonna be paying 30 cents or so forth above the market, right? Because that's how they correlate. So here's your bullish. And as we're saying it, it's ticking up right to that 57.75, which would be nice because then would have no intrinsic value on either side, would just be paying premium. And it's gonna be a little pricey as you might expect, right? So we're at 57.72, call it the bullish spread, costing us 23, the bearish spread, which is the one with about four pennies of intrinsic value, 27, 50 bucks on the dot. So you would need 50 cents of movement away from 57.75, which is almost where we're at right now. In either direction, that's the key part, right? You get 50 cents of movement in either direction, you break even, a 50 cents, you know? It's a little movement from both sides. It's, and as it makes it. By noon, too. By noon, correct? And there's, before, I just wanted to see the 230s as if they line up at all. So 58 would be our only option for the dailies, which is about 30 cents or more. And so we're dealing with October. Oh, so this is interesting. Look at this.  It was a big day. We shot up there and then like I said, by 230, you were back down to 57 and change. Yeah. So, you know, most times what tends to happen here is that, oh, look at that, then another one bites the dust, that's. Well, you know what that was, right? Yeah, that's what's when Bolton bit the dust, exactly. So what I'm talking about, folks, is when the dust there, what you had is that you had oil shot down from 58.41 down to 57.30. A buck 10 in no time. And then the volume down there. Yeah. And then it was interesting though, by the end of the day, look at that. Oh, I know. The market said, you know what, man, Bolton wasn't probably the one that we should be afraid of in terms of foreign policy, if that's really what you're worried about in terms of, you know, the president, he decides a lot, as any president does, but so. Yeah. So, you know what, I'd go that the others can get tested again. It didn't get tested. It came down there in the middle of, no, no, that's 240, came down to 240. Yeah. I'd still go that we're gonna gotta go a little lower. We'll see where this shakes out. Okay. We got those numbers.<PHONE_NUMBER>. We have the year down. Industrial's right down. I'm 34 and as like up 43. S&P's up eight. Stare at that folks. Tommy and I come right back. Hi folks. Tom O'Brien here. If you'd like to get my daily newsletter and market insights, then now is a great time to sign up for a 30 day free trial. Every morning by 9.30, I send out my morning letter to subscribers with market commentary on a variety of markets, currencies and commodities to keep investors up to date on the day's trading action. Included in market insights are specific buy and sell recommendations for stocks, ETFs and even options, which stops and price targets included for every trade in my newsletter. If you'd like to try my newsletter at risk free for 30 days, then head over to the front page of TFNN and you'll find market insights under trading newsletters. 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This segment is brought to you by Think or Swim. For more information, just click the Think or Swim banner on the front page of TFNN.com. Folks, 6.91 drawdown. And the crude gasoline, 682,000 barrels. And they were looking for, well, Bloomberg is looking for 5.15. But yesterday, that API, that number is big, right? That was number seven. Yes, seven plus million. So we get the EIA numbers, 10.30 a.m. Eastern time on Wednesdays. Crude oil inventories falling 6.91 million barrels to see how that hits the market, jumping back to the charts. And as you would expect, little pop. We were trading at 57.75, coming into that number, right? We're up about 13 pennies. But look at that volatility. We actually spiked to 57.42. It's a five-minute bar there. And looking at both of these contracts, your value would be on the bullish side, of course, now. And that's where you can see. You're actually only 25. You need more movement, right? Yes. We're looking for 50 cents for break-even on both sides. Right. So you're talking about 57.75. If you were trading this, you needed up to 58.25. But that number, man, declined falling 6.91 million barrels. And like you said, gas inventory is falling as well, 682,000. And the Bloomberg User Survey, they were looking for a stockpile decline of just 5.15. But if you back things up, the survey number was only a decline of about 3 million. And scrolling through this quickly to get to that API, as you talked about, 7.23 falling last night for the API. So maybe we're using some oil, man, after that summer break. Yeah. They're not pumping enough of it. That's right. One or the other. Yeah. One or the other. Exactly. Yeah. Let's go take a look at the strength versus the weakness inside the dowel first. The dowel doesn't have much action out here today. Let's see what's putting a hammer on it. Okay. Good old Apple. Apple? That's up 1.6. And Boeing always. Yeah. So you got Boeing putting 31 positive points, Apple 23, Caterpillar 10, taking away from it, United Health minus 22, Travelers 9, JP Morgan 4, Visa 3. Nothing big, really. No. Okay. Do you see this morning that it looks like Bank of America is going to be for the Saudi Aramco IPO, the underwriter, which was kind of quite a revelation. There you go. Where was it? Right there. Yeah. It's in red. Yeah. So that was... Said to pick. That's pretty amazing. Oh, it is amazing in terms of they are not, you know, a big investment bankhouse to be leading IPOs. Right. And the speculation. I see they're going to join Goldman, JP Morgan. Yeah. They'll be in there. But they're going to be on the top bank of America. And the speculation was that it's such a big IPO that they probably came in at a cheaper cost. And it's such a mammoth number that when you start talking about percentages on the Saudi Aramco IPO that they probably said, hey, you know what? For the type of percentages we're talking about on the billions and billions of dollars we're going to come in at, it might make sense to go for the cheaper alternative. Yeah. And we'll see if they get what they pay for. But the other noteworthy history here is that even choosing the big boys, man, lift Uber. Oh, yeah. We work. They're not getting it done when it's a bad deal. Right.  So their track record for charging premium pricing, which the top banks would. Sure. Maybe it's not worth it. Oh, that's... That's probably the conversation they went through. And they decided to go for Bank of America in the top building. They're going to be popping some bottles over at Bank of America this morning. My God. Saudi Aramco IPO. Not a bad sale to close. So we take a look at the NDX100. The strength versus the weakness. You've got C-Trip out here. That's interesting. That's up 6.3 percent. Illumina is up 3.7. Tesla 3.5. Bacata Libre 3.4. Taken away from it. Wynn down 2.5. Alexian down 2.4. Monster down 1.8. No big deal. Yeah. Let me go over there. What's happened with Tesla? Yeah. Well... Maybe they're excited that Apple didn't announce an Apple car at their road show yesterday. Yeah. I kid, but... That's not much news. But the bottom line is that this is a highly volatile stock anyway. That's what you come down to. We take a look at some of the higher volume equities out here. And you got... Look at the Bank of America is even down with that news. That's interesting. Yeah, right. Down 23 cents. You got Micron Tech up a buck. 15. This baby is getting smoked. This is a... What are we talking about here? Yeah. Zscaler, huh? Zscaler. So this is a cloud security-based company. Okay. Internet security platform. Yeah. And you're going to see that this is, you know... Six billion dollar company even at this evaluate. Right. This price. Man, we were just at 90 bucks. Yeah. What happened? This is a new IPO too. Let me see how new it is. Okay. Let's see. Yeah. March 15th of 2018, it's $16. You know, they ran these things up in a big way. The tough thing is, man, if you're in margin at 90 bucks, you just lost 100% of your value. Oh, intense. And you can be at margin when you're talking about a year and a half ago IPO. Oh, for sure. You know, that's for sure. For sure. So, big earnings per share, miss. There you go. Yeah. Can we just click maybe and see if they... There you go. Good. So, they come in at earnings per share. For the fiscal year, 12 to 15, they were looking for 20. Earnings for this quarter, 0 to 1 cent. Maybe that's next quarter. Estimate 2.4 cents. Yeah. So, they might not even be profitable. Revenue, pretty close to in line. I guess 89 to 90. The estimate was 87.8. And... But fiscal year, not pretty close. 395 to 405. Estimates 402. Yeah. It seems like... The fourth quarter is probably what they just reported. They actually had earnings of 7 versus a loss of maybe 1 cent. No, that's... A year over year. Yeah. But estimate 1 cent lost too. So, the quarter is all right. But this is the number. That's the number. Yeah. And the number we're saying there is that the estimate folks for the adjusted earnings per share for 2020 was 20 cents. Now they're 12 to 15. Because they're hammering this thing. Yeah. The last thing you want to see is, you know, saying not even this year. Next year, we're in a lot more trouble than we thought. It's basically what they said. Yeah. Yeah. And, of course, the market... If you're in the public market, you better be growing. You either grow or die. Yes. I just said, that's... How about, let's jump to Disney. Because I'm going to follow on the Apple Heels in terms of Disney and the acting yesterday to the idea of Apple coming up. Five bucks, right? 499, man. Quite a price tag. If there's any value to their content, and that'll be the real question, right? Right. But, man, if there's any value to their content, 499 is worth it. And you're undercut the giant in the room, which is Netflix and Disney. Yeah. So, we'll see how that plays out. Netflix... So, Disney... That pulled by. It looks like it's going to... Wow. We'll see. 138 to 134.58. And what's remarkable is that big jump in the... In this chart was the day that they announced their pricing for their content, which I believe was $6 or $7. Same thing, undercutting Netflix. Market loved it, right? Shot from about 117 up to 142 in a heartbeat. And we're now under that at 135. And Netflix really took a beating. Yeah, because they have their own wars. You know, Disney, man. Disney's not going anywhere, right? No matter what. Exactly. Netflix went from 297 to 282.63. Pretty remarkable. We're now up, though. Yeah, 291. I'm comparing some of those losses on Netflix. And... That's down, though, from over 380. Yes. Just in July. Right. Yeah, it's that...  Is the pricing model going to keep going down dramatically even on the streaming? I mean, that's what it almost seems like. Yeah.  I mean, remember, if we were talking about last year, we thought Netflix was a great deal at 11 bucks. Yeah. Right? Yeah. And now all of a sudden it's like, oh, you know... I mean, Apple, they, you know, Apple doesn't need to make money on that, though. Right? I mean, that's where you get into weird aspects. Oh, absolutely. And I'm sure they actually don't plan on... The same with Amazon. They don't plan on making money at $4.99. Right. They just plan on keeping you in their ecosystem. Right. And then what? You're subscribing to iCloud memory in Apple. Exactly. You're subscribing to other apps in Apple, the health app, whatever it is. Yeah. Yeah. Stay right there, folks. We got our men, Mr. Teddy Cakes, that coming back. We are going to be talking currencies. Come right back. That's interesting. Okay. 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That is a shocker. Look at that. We're getting at $57.75 almost. When we came into that number, we saw the initial spike. We saw a drawdown of more than the market was looking for, and man, it doesn't matter. Oil trading lower $57.37 right now in the price of that October crude oil. That says a lot. It sure does, man. That says a lot. No two ways about that. We'll see whether that high volume low is going to get hit. Let's go over to our man, Mr. Teddy Kegstad, as we do each and every Wednesday. If you want to know the currency market upside down, folks, every trading day, you can check out Teddy at forex-trading-unlocked.com. That's forex-trading-unlocked.com. Teddy Kegstad, what's going on, brother? Oh, it's a beautiful day in Chicago. We actually have warm weather in September. It's a treat. Oh, that's good, man. Yeah, well... We'll try and send you some of our warm weather to keep it going. We've got plenty of warm weather, man. We'll send it your way. We were just looking at our weather, actually, and it says it's going to be a high of 85 degrees on Saturday, and we both said, I feel like that's going to be storms and clouds because in Florida, we don't get high as at 85 unless in September we do, but we got to enjoy it. I'm just glad you guys are in one piece. You guys survived the hurricane. Yeah, we're in the West Coast. We're really lucky. All of Florida are really lucky, man, in general, so thankfully for sure. That was a... They get dicey, and also in September we're keeping our fingers crossed, man, totally. So what are we looking at? Well, we can talk. We'll start talking about the U.K. first, or do you want to go to Asia first? Let's talk about that, man. We never get enough of breakfast. No, it's interesting. Let's go. What have we got going on? Okay. Well, in the past couple days, now we know that Boris did the preroguing and what have you, and I've done some research, and there's a lot of rumblings about them trying to actually oust Boris Johnson. I don't know how they can do this. I'm not familiar with how parliament doesn't, doesn't work, and English politics work, over the past couple days, there's an initiative to find out how quickly they can have Boris Johnson removed as the prime minister. If that was to occur, then we know that, well, obviously there's not going to be a Brexit deal come October 31st. That would be the extensionists would get that, and also the people who are trying to maintain keeping the U.K. as part of the EU and breaking the Brexit deal. So that's a big issue that's on the table. Right now, obviously he's suspended parliament, and he's going full throttle towards a no-deal Brexit. We've had a lot of issues over the past two days with U.S. companies trying to figure out where do they fall, and if a Brexit does happen or if it doesn't happen. And like we've talked about before, like we pretty much all agree, just like the businesses do that whichever way they go, why does business and trade have to be disrupted in the short run? Why can't they just continue as business as usual and hash it out over time instead of trying to do what they're doing right now? So that's a big deal. So I think that you can notice that in the British pound, and it's going to start to surface over the next couple of days, where right now it's going to be sideways. And then how we head out of that news, I think we'll set the new trend for the pound. It's pretty remarkable that we might get another delay. That's almost the one thing that I was going to bet on as we came into this, right, that this was going to be the hard one, that no delay took place. And it's looking a lot more like that might be a possibility, which I should have known. Come on, what was I born yesterday not paying attention? Another delay, of course. Well, and the big deal is that the problem is not doing their job. That's the other side of it. We know politics is politics, but that's the real bottom line. It's got to be a frustrating experience as a voter over there. So, Teddy, this pound, I can see that it's not in the range yet, meaning where it broke down from. And I guess so this is kind of a dicey place for it is, right? I mean, it can kind of get there, but guess what? If it doesn't get in that range, that lowest game again, probably, right? Right. So, see, here's the way I look at it. Over the past, remember a couple of weeks ago, we had this little turning point where the currencies that were against the dollar that had been trending and also the divergent currencies, all of a sudden we had reversals that came in a couple of weeks ago. So, we've had the pound that's rallied against the dollar for a few weeks and we thought that Boris was actually setting the motion towards really having a Brexit on October 31st. Now, if you look at the pound versus the yen, the pound has been strong against all the currencies over the past few weeks, especially the euro, okay? Now, we're coming into this little question mark of whether they can remove Boris or not or put a stop to him. And I think that that's going to set the pound versus the dollar for a short-term break, you know, as far as in momentum, not necessarily a break, meaning a slide, but just as far as directionally, I think it's going to be sideways. What you need to look at is the pound versus the yen. Okay. That looks like it's starting to run out of the gas, like it was a correction. Now, here's the thing is, the pound has been strong against the yen, the Aussie's been strong against the yen, the dollar's been strong against the yen, and then so is also the Swiss. So, now, when you look at this, they're all starting to run out of gas. Now, the yen had been in a strong trend against the dollar for months, just like the Swiss. It was the one divergent currency. Yes. And that's a couple of weeks. It hasn't been. Now, it's starting to look like the yen bearers may run out of gas. So, that means if the yen bulls come back, the pound's going to slide against the yen. The other currencies slide against the yen, which also means the dollar's strength is not what's going on in the market. It's other major currencies that, it's their strength and weakness that's dictating things. And if that's the case, the pound's going nowhere. It's not going to be on a big break, and it's definitely not going to rally. So, we're looking at a big sideways nature there, and I think same with the EU. So, if you have any currency traders that are out there to trade against the dollar with major crosses, I think you're looking at a big sideways reaction that's going to happen for the next couple of weeks, and you really have to look at more of the exotic crosses. Like, if you're a US dollar yen trader, if you want to know direction, look at how it's going against the pound, look at how it's doing against the Aussie, look at how it's doing against the Swiss. If you see weakness there in the dollar and yen strength, then that's probably where you'll see it with the US dollar yen cross. And I think the same's going to happen with the pound as well, because the pound has been trending stronger against all these currencies for two, three weeks, now is probably a time where, if it's a correction, then the correction is coming to an end. And if it's actually going to be the beginning of a true trend, we're looking at a time for a pause anyhow. So I think that's what we're looking at for the next week or two. I love this education. Oh, I love it. I know. We just had the chart of that pound yen, and it is, man. And then, because Teddy, what happens is that I follow the yen real closely, but I follow it, you got the only reason, but when the yen is strong, gold is strong like beyond belief, man. Do you know what I mean? The yen moves, and so like when Tommy had just brought up, when he was speaking, we brought up those crosses, and I can see what you're saying, that they are running out of gas, man. Do you know what I mean? Well, they look they are, you know what I mean? Right, so now that would support your goal rally. So if this does turn the yen, we're looking at another extent to move higher for gold. Right, exactly. No. And that's what I'm looking for, because what gold has done, it's pulled back into a breakout area with dramatically lighter volume. I mean, dramatically lighter volume. So it's like, okay. And then, I mean- It was at the BOJ that did not do anything. Remember when the BOJ met a few days ago and last week, there was all these rumblings that all of a sudden Japan's going to start becoming hawkish and what have you and whatever. That's not happening. Right. It's just not happening. Right. You know, and I think that this is going to be, it's going to manifest itself for as far as where's flight to quality in the short run with the trade deals. I mean, I think that this little inflection point has occurred because it's the stuff that the talks with China have been kind of positive, even though nothing's really resulted over the past couple of weeks. Yes. We're heading for it. You think we're going to block it? Yeah. Let's all know it's not happening. Right, totally. Listen, folks, you can check out Teddy every trading day at tradeat4x-trading-unlocked.com. Teddy, you have a great week, safe week. We look forward to speaking the next Wednesday. Thanks, guys. And tell your people to look at me tonight at 10 o'clock Chicago time. I'm on our web homepage. We're going to be streaming to you. Absolutely. I'm certain you are or strive to be one of the best of the best at everything you do in life. It's the most common trade that we tigers and tigers share. If you're looking to become the best of the best when it comes to managing your money, let me teach you to do what most wealth managers tell you can't be done, which is how to time the markets. I'm Steve Rhodes, author of Mastering Probability. And for the last 12 months, Timer Digest has been tracking my newsletter signals, which have earned me the ranking as their number one market timer in the nation for the S&P 500 for the last 12, six, and three months. Timer Digest also ranks me as the number one market timer for gold as well. The fact is, markets can be timed. And I'll teach you the exact set of tools that I use that have transformed me into one of the best at what I do. Sign up for Mastering Probability today by clicking on the newsletter tab on the home page of TFNN.com and get immediate access to workshops where I take you step by step how to use an extraordinary set of tools, as well as provide great market calls too. Sign up today. If you're a trader in the market looking for exposure to gold or gold mining equities, then now is a perfect time to sign up for Tom O'Brien's Gold Report. The summer is over. Gold is trading back above $1,500, and the 10-year treasury is hovering at around 1.5%. Tom O'Brien has been writing his weekly gold report for almost 18 years. There's no one that knows more about how the gold market trades and how gold mining equities react. New subscribers get a 30-day money-back guarantee so you have nothing to lose. Every Monday morning, Tom publishes his weekly gold report with coverage of gold, silver, bonds, the XAU, HUI, GDX, the dollar, as well as more than 30 different mining equities. As of September 3rd, Gold Report subscribers have five active open positions with an average unrealized profit of almost 38% for each position. To see for yourself the types of profitable trades that are recommended within the Gold Report, sign up today by visiting tfnn.com. Since 1984, Basil Chapman has been using the Chapman Wave methodology to advise traders of his expert market opinion, while originally hand drawing charts from the late 1970s into the 1980s, Basil noticed that prices under most circumstances virtually always had a certain number of legs to the upside before declining sharply. Later, Basil found that computer software, which included the standard market technical indicators, enhanced the degree of accuracy in calling price turns as well as market trend calls. Thus was born the Chapman Wave sequence. Using the Chapman Wave methodology, along with other indicators, Basil Chapman advises his subscribers of his expert market opinion each market day with his opening call newsletter. Right now, you can get a two week free trial to the opening call, Basil's daily trading newsletter, by visiting the front page of tfnn.com. Cancel at any time during that trial and pay absolutely nothing. Get your two week free trial to Basil's newsletter, the opening call today by visiting tfnn.com. This segment is brought to you by Think or Swim. For more information, just click the Think or Swim banner on the front page of tfnn.com. Welcome back, folks. Now, it does up 51 now, except 40 SAPs up eight and a half. We have gold up $2.80. And folks, if you haven't checked out the Gold Report, it's a great time to do it. Come over to our website at tfnn.com. You'll see it right on the featured content. I'm gonna be doing a workshop a week from today. That's right, man. It's September 18th, five till 6 p.m. Eastern time. You're gonna be in there for an hour with subscribers to the Gold Report, the title of the webinar you put together. The next leg up in gold is 1794, Find Out Why. So you got the topics you're gonna be talking about here, some of the charts that you've already pulled together that you're gonna be putting together at a preview of the webinar. Pretty cool, man. You were walking me through these as you were putting together that webinar. Gold, quite a market, man. You do talk about it as a small market, but this graph, kinda talking about, man, $110 billion US a day, the gold market. You combine all the S&P stocks. I think you're at about $170 billion. You're looking at the chart here. Pretty remarkable, right? In terms of- It is. And then you get into, this is Japan bonds down here. You got US sterling, and of course, the giant in the room always. Treasures. When we talk about the S&P markets. But mammoth number, $110 billion in terms of average daily trading volume. And then you got, in terms of the returns going in here over since 71, 20 year, 10 year. Gold holding steady, holding steady as well when you're talking about even since the last 20 years. You get into the last 10 years with the way the stock market's performed, of course, because that's only going back to 2009 on gold. And then just versus fiat currencies, man. That one there, if you happen to be in a car and you can't see this chart, folks, this is like insane. And it would make sense in terms of a fiat currency over time does go to zero because inflation is always there.  If, you know, in an inflation, you have to have it working. So check it out, folks, on the front page, sign up. You of course have a new issue out there on Monday, but they gain access to the archives and this will be archived for subscribers if you cannot attend a live. We get, I think a swim coming up next. The man, Mr. Basil Chapman, Steve Rhodes, Dave White. I'll be back this afternoon. Thanks, pal. Thanks, man. Yeah, go get him, folks.


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