So this is just a little bit of a review for polar coordinates as we're using them in Lab 8 for our class. This is the example plot that you're going to have in Part 1 of your lab. And again, just to go over some of the text but actually pointing some things out, you've got two measurements. The R measures how far out you are. And then the Theta measures your angle as you go around. Now the first line out is 1 and it's not just 1 over here on this side. Anywhere on that circle has a value of 1. Anywhere on the next line out is going to have an R value of 2. Then you've got a value of 3 everywhere on this line. And it doesn't matter if you're on the right side or the left side, there's no 3 and minus 3. It's all that circle has a value of 3. And my final circle here has a value of 4. And if you're somewhere in between, you'd estimate it there's got to be a value somewhere in between the two circles that it's around. Between 3 and 4 or between the 2 and the 3 line. Your angles are marked out here on the edge and for this particular plot they only have an angle every 30 degrees. So this line would be 0 degrees. Anywhere on this line is 30 degrees. Anywhere on this line is 60 degrees, etc. as you go around. And it's only going from the center out. So even though this line is 60, this line over here is 240. And again if you're somewhere in between the values or between two lines then it's going to be somewhere between those two values. So between 210 and 240 or between 180 and 210 and you can estimate. If you have any questions about this particular plot or how to work in polar coordinates, make sure you ask before you move on in the lab or you're going to have some difficulties with some of the other sections. Thank you for watching.


Welcome to this presentation. This will be about an algebraic attack on ciphers with low degree round functions, and the application will be to full memsie. This is joint work together with Maria, Lorenzo, Reinhardt, Morten, Christian and Genshu, and my name is Markus. So let's first start with a short background section here. We know from the recent years that algebraically simple designs are becoming more and more popular. And this is the case, for example, due to proof systems like snarks or starks. And in these proof systems or also in other similar use cases, some certain metrics are more important than others. So for example, plane efficiency or the plane encryption speed, so to say, is not so important. But what is important is, for example, the algebraic representation of the construction or also the total number of multiplications, which is then also very important in MPC scenarios. And memsie is a construction which has been a benchmark since 2016 in some of these settings. And it was also a basis for follow-up designs like, for example, GMC and Hades memsie. So these two constructions are not similar when it comes to the construction itself, but they borrow some ideas from memsie. And before I actually present our work, let me give you a very short summary of the attacks I will present. So first I will talk about the secret key distinguisher, which covers almost the full round number of memsie. Then I'll talk about the non-key distinguisher, which covers almost twice the number of rounds of memsie. And at the end I will then talk about the key recovery attack, which covers full memsie, and actually also a bit more than that. So what will be the outline, what will be the content of this presentation? Well, first I'll give the specification of the memsie block cipher, which is basically a way to build the block cipher of this memsie construction. I will then talk about the round function of this construction and about the number of rounds maybe shortly. And I will also give the degree of the round function. So this is one of the key properties we exploit here. And after giving some details about memsie, I will talk about the distinguishes for this construction and then also about the key recovery attack on memsie. And at the end, finally, I will talk about the summary, so give a short summary and maybe give some questions for future work also. So let us start with the specification of this construction memsie. Well, first it works over prime fields or binary fields. And it's important to say that this attack here works over binary fields only. It does not work over prime fields. And we have a simple construction here. If we want to build a block cipher, for example, we have an input x. We add some key k, we cube the result, we add a key again. We add the round constant, a random one. We cube the result again. And at the end, we have the output ciphertext. So the round function basically consists of a key addition, a round constant addition and the final cubing operation. And in memsie, every round key is the same. So there is no key schedule. Then we have that the round constants are chosen randomly from this finite field and n is odd to achieve a permutation in this basically for this cube function. So the state size or block size is odd. And the question now is, of course, how many rounds are secure and the approach by designers was the following. Well, we can just choose the best known non-random property as a reference and then add one more round on top of that. And then we arrive at the following red round number. And for example, we use 82 rounds for the 129-bit version. So this is the original round number of memsie. However, due to this new result, a few more rounds are actually needed. So I've promised you some details about the round function degree. Well, first we have this word-level degree, which now we know is 3. And then the upper bound for the degree of the whole construction is 3 to the r after r rounds. And this is important if we talk about the complex de-effectorization techniques and interpolation attacks. And indeed in the original paper, the number of rounds was chosen with respect to this analysis, similar analysis here. But besides the word-level degree, we also have the bit-level degree. So the algebraic degree of the round function. And in the case of memsie, it's 2 because the hamming weight of the word-level degree is 2. And then the upper bound for the degree of the whole construction is 2 to the r after r rounds. And for example, we would have 2 to the 82, which is much larger than 128 for the 129-bit version. So most likely, security is easily reached here. However, as we will see, this is not the case. So this brings me to the first couple of our results. So two distinguishes for memsie. But first, what do we actually use? What is the approach we use? We use something which is called higher-order dimensions. And this exploits the lower algebraic degree of the construction. And indeed, if the degree is sufficiently low, we can build distinguishes. For example, if we have a function which has an algebraic degree of delta, then we can use the vector space of dimension delta plus 1. And then we would have a distinguisher. So basically, in that case, a zero-sum distinguisher, because with some of the results of each evaluation, then the total result will be zero. So a question is, what do we need for protection? Well, we need to reach the maximum algebraic degree, which is n minus 1 for an n-bit permutation. And in that case, then the vector space would need dimension n, which is the full space, so it wouldn't be an attack anymore. And for key alternating ciphers, and MIMC actually is a key alternating cipher, we can then ask ourselves the question, what is the algebraic degree of such a cipher? And if we first consider such a cipher, so it's described above, and then we consider each round function having a degree of d, so the same degree in each round function, then what we want to have is we want to reach the algebraic degree of n minus 1. And what we can do, in order to estimate it, is we want to focus on the smallest word-level degree, which has the hamming weight n minus 1, and this would be 2 to the n minus 1 minus 1. And so the question we would need to answer is, when does a monomial of this degree actually appear in the univariate description? So it would be this polynomial x to the something below in the univariate description of MIMC. So when does it appear? Well, clearly to make it appear, what we need at least is that the word-level degree of the whole construction is what at least this degree we want to achieve. And if we don't structure it, this implies that r is greater or equal than this seeding here of the log. And if we now set d to 3, so we set the degree of the round function to 3, which is the case of MIMC, then the resulting number of rounds is very, very close to the total number of rounds of MIMC. And indeed, it's at most 2 of, which leads me to our first result, which basically is that the growth in these constructions, the degree growth is linear in the number of rounds. So for example, we can see here in the following graph here, that for example, according to the upper bound, who would already reach the maximum degree of the center rounds, but in the specific case of MIMC here, for example, we need almost the full round number in order to reach it. So this is this linear growth. And now how can we use this in order to build distinguishes? Well, first, we already have, according to this result, a higher order distinguisher on the number of rounds, which is CQ minus 1 rounds. And so this means that the number of rounds, which is not covered by a distinguisher in the case of MIMC, is then this number here, and I've marked 1 and 2 in red, just to emphasize that the number of rounds, which are not covered by a distinguisher in the case of MIMC, is either 1 or 2. So in 2 cases, all the remaining rounds are actually covered. And to give some examples here, the distinguisher covers R minus 1 rounds for the 33-bit version of MIMC, and it covers R minus 2 rounds, for example, for the 129-bit version. And there are no other cases.  And no distinguisher, this is also something we can build here. So in this setting, the attacker knows the key, and the goal is basically to discover some property which holds for the probability higher than that for an ideal permutation. And to do this, we exploit the inside out approach. So we try to find a set of inputs and outputs, whose sums are equal to 0. And now if we start in the middle of this construction, we know that we can cover almost the full number of rounds in the forward direction. So this comes from the previous higher order distinguisher. So the question is how many rounds can we cover in the backwards direction. And for this, there is this nice proposition from Burr et al. And basically, if F is a permutation, it's a permutation like MIMC, then the algebraic degree of the inverse of this permutation is N minus 1, even only if the algebraic degree of the forward direction is N minus 1. So what this means is that if we use a subspace of dimension N minus 1, then the number of rounds we can distinguish is the same for MIMC as well as for the inverse of MIMC. So we can cover almost full MIMC in the forward but also in the backward direction. And this means that our non-key zero sum distinguisher covers almost the double of the number of rounds of MIMC. And now having talked about these two distinguishers, I will now get to the actual key recovery attack on MIMC. So let me first summarize our impedance here. So we have a distinguisher with dimension N minus 1. We know that this distinguisher works in both directions and we also know that the distinguisher covers almost the full number of rounds. And usually, maybe besides of the high data complexity, but usually this is exactly what we need for an attack. However, in the specific case of MIMC, there are some major problems. The first one is obviously the high data complexity. It may be an issue, but it may not prevent the attack. But more importantly, the final subkey is the size of N bits, so basically the full keys as a full block size. And this means that in a traditional approach, we would need to guess basically the full last subkey. And this would already be like brute forcing, so this would then not work or not count as it would work, but it would not count as an attack. Another problem we have is that we have full diffusion bit level, both in the forwards and also in the backward direction, and we also have a high-degree inverse. So guessing individual bits and then evaluating if the distinguisher holds for these bits is also not an option here. But maybe we can try something like interpolation, which has been unfollowed in C for example, and there would be many anomalies here and we would need more data to be at the limit with the data complexity, so this is not possible either. So all these traditional or existing approaches would not work in the case of MIMSI because basically we have this large last subkey. So the question is how can we break the final round of MIMSI or if we need to cover two rounds by this key-solving approach, how can we break the final two rounds? And we know to do this that the encryption function reached the maximum algebraic degree only in the last one or the last two rounds. So the question is maybe we can build some efficient equation system which covers the remaining few rounds because we only have very few of them. And we also know that the encryption function has a much smaller degree. It's only a degree-3 function while the decryption function has a higher degree in larger fields. So the encryption function is basically cheaper to evaluate. This means that in such an attack or such a scenario we would essentially request plaintexts. So this would make it a chosen cybertext attack. Then we would fill in and sum over the values of the plaintext if we want to evaluate this forward polynomial for each of the received plaintexts. And finally we would set it to zero because of the zero sum and we would solve the remaining univariate polynomial in the single key variable. And this is exactly what we did for the case of Mimsi. So basically first generate this symbolic expression. We have this one-round encryption essentially. So again this is only the case if we want to cover one round. It's more than that if we want to cover two rounds but it's actually still possible. So the approach is the same. So in that case if we want to cover one round then we request the plaintexts. We compute the values for each of the received plaintexts and then we start solving. How does this work? Where we have a set of plaintexts. We basically sum over these plaintexts. This helps us to evaluate the final representation of this final polynomial which will have basically all constants except for the key variable. And then we set this polynomial to zero which we can do because we know that there's a higher odd distinguisher coming from the other side and then we solve this low degree equation. So the solving step itself is then quite fast. And now of course since the data complexity is high we also need to precisely estimate the complexity of the attack. So is it still an attack even? And to do so we focus on all the complexities involved where almost all the complexity is necessary for basically computing to compute this polynomial. So first if we take a look at this representation and if our data is 2 to the n minus 1 then we need 2 to the n minus 1 multiplications for x to the 3 where square n's are linear here. Then we need approximately also 2 to the n minus 1 square n's first for each of these evaluations but also for the final x2. So we can actually only use also one square n for the final x2 because it's linear and we can use the final x and just square that. And then we need approximately 2 to the n extra additions for x, x to the 3 which is also the final representation of this polynomial. And the complexity of solving this polynomial is then also of course part of the attack because this is also needed and we have this low degree polynomial which has a key variable and these sums p1, p2 and p3 and these sums actually the sums we have computed before so in this approach before and now we know that this polynomial has a degree of 2 only so it's a very low degree and so the complexity of actually solving it is negligible. So this is not of course this also plays a role and can be estimated but it's negligible compared to the other step. And actually it's also quite fast for higher degree polynomials so for instance if we not only want to cover one round bit attack but if we need to cover two rounds so this still works then. And then the advantage if we compare it with exhaustive search and if we compare it with the operations which are needed for exhaustive search actually then the advantage is approximately log of n and the memory cost is negligible why is that? Well because we only need to remember the intermediate sums and the intermediate representation of the polynomial isn't anything else we need to store so the memory cost is negligible. Well we have verified this attack practically on some toy versions of MIMC and what is interesting is that in the cases we tested in our experiments one round was actually sufficient to cover by the solving step so this means that r-1 rounds were always covered by the inverse distinguisher so this is not the case in the theory but it was the case in our practical tests but of course our analysis and also the implementation we give they cover the case also the case of two rounds so not only one but also the case of two rounds and there's no more than that that needs to be covered according to the theory and then there's this new recommendation for the number of rounds of MIMC we also give because we can break the full round number and this new recommendation is based on the number of multiplications which are necessary for the attack and also for MIMC and for example if we assume that a certain number of rounds can be covered by a zero sum what to try now is to try to find the extra number of rounds we need to add in order to basically raise the number of multiplications so that at the end the evaluation of this polynomial would be more expensive than brute force and this extra number of rounds is actually given below here so the condition test of the theory is given below and for example if we are talking about the 129 bit version of MIMC where we originally used 82 rounds so this was the original round number we used 87 rounds so basically plus 5 rounds here and finally we also give a generalization of the attack so we can generalize the attack from the univariate description to the multivariate one and in that case of course we need a Grubner-Basis step so in the last step we need the Grubner-Basis approach because we have a multivariate system of equations but this would be a possibility and a complete definition of this approach is also available in the full paper but also a complexity estimation so maybe this can be applied to other constructions which maybe also have a low degree but which are similar construction wise similar to MIMC as a summary, the first result was a new bound for the degree growth of key alternating ciphers where MIMC is one of these and we found out that it actually closed linearly not exponentially then we also give the first key recovery attack on full MIMC of a binary field so again the attack does not work over prime fields we don't know how to apply it because we don't know any for instance any non-trivial subspaces of the prime fields which is possible for a binary field then the complexity of the attack is quite high but it's strictly below exhaustive search it's a new attack approach so maybe it's applicable also to other loading constructions to some now but maybe also to some in the future and finally in the future maybe we are able to somehow better analyze the growth of the inverse degree not only the growth of the forward degree and this would maybe allow us to reduce the data complexity we need for the attack well thank you very much for your attention yeah, this was it


As part of efforts to cut a oil theft pipeline, vandalism, crimes and criminalities in the state, the Nigerian security and civil defense corps, River State Command, have arrested 12 suspects for their involvement in vandalism, oil theft and illegal dealings in petroleum products. Addressing newsmen during the parading of suspects at command headquarters in the River State Commandant, Basil Igweboise, said the fight against illegal oil bonkring activities in River State is not negotiable, hence economic saboteurs are to either desist from such heinous acts of faith, the full wrath of the law. The prosecution of the cause mandate of combatting pipeline vandalism and all the other aspects that threaten the critical national assets of the country, the cause in River State Command has made the following progress. 12 suspects have been arrested from different locations across the state and are hereby paraded for their involvement in pipeline vandalism, illegal dealings in petroleum products and allied matters. The Command's anti-vandal unit has impounded so far five vehicles, a bus, with 36,950 litters of oil and 51,225 litres of crude oil. This is in affirmation of the fact that there has been a change of pattern in the state and it is no longer business as usual. Commandant Basil followed the relate that based on sustained intelligence, the anti-vandal squad made an arrest at Okahing, Ungo or Kuala Road, H.A. Axes, a greater use of Camry laden with 2,000 litres of AGO concealed in sacks while the suspects took to their heels upon sighting the anti-vandal squad. He warned the anti-vandal marine personnel to desist from any action that could smear the image of the NSC DC noting that a CG is always ready to motivate and reward the diligent and dedicated officers. Thanks for every person or any criminal involved in anything that threatens the economic reality of the country by way of vandalism of any critical national asset will be made to bear the brunt of the law. Any person caught in aiding and abetting oil thieves or illegality in the waters will be dealt with according to extant regulations and law. The command will continue to synergize with relievers' agencies to combat oil theft in river states particularly. Investigations are ongoing and into the cases of the arrest made and will be appropriately briefed or informed on the status of the cases in due course. All vandals' activities are either to stop the activities or relocate as a devil's alternative to other areas where the activities can be welcomed but in river states it is of a truth and an assurance that the activities are no longer welcomed and will not relent in fighting them and bringing them to book.


Good morning class and welcome back to Gamedev Academy, I'm Shane and in today's video we'll be taking a look at how you enable ray tracing in Unreal Engine 4. Before you can even try to turn on ray tracing you need to make sure that your system meets the requirements. First of all you need to make sure that you're running Windows 10 build number 1809 or later. I'm running version 1909 so I'm good to go. If you're not sure which version of Windows you have you can find out by typing winvert into the Windows search bar and running the command. You also need to ensure that you have an Nvidia RTX graphics card or one of the GTX cards that supports DXR. You'll also want to make sure that your graphics drivers are up to date. I've just updated my drivers and I'm using an RTX 2070 Super GPU so I'm good. Finally you need Unreal Engine 4 version 4.22 or later. I'm currently running version 4.25.3 so I've got everything I need to enable ray tracing. Now that you've checked that your system meets the requirements for using ray tracing we can enable it for a project. Luckily Epic makes it nice and easy to enable ray tracing for a new project. Simply launch the engine in the usual way and then choose the type of project you want to create and click the next button. I'm going to choose games. Next if you want you can choose a template for your project. For the purposes of this video I'm going to use the first person template. Then click on next again. In this window you can make some other decisions about the type of project you want to create including whether or not ray tracing should be enabled. So enabling ray tracing is as simple as choosing the option from the drop down box as you can see here. Once you've made your other choices on this screen you can choose to create a project. So here's the new sample project I've just set up and what I'm going to do is just go into the starter content and open one of the maps from here. So we'll have a look at the starter map and you'll just need to sit through the compiling of the shaders before we can take a look at how ray tracing works in this scene. So that's all my shaders compiled. Now we're going to find some of the more reflective materials over here and see that the ray tracing is in fact working. So if we look through this water we can see the little building is being reflected in the water over there and if we go to some of the more metallic looking ones again you'll see the same. So all that building is being reflected and to know that it's really working if we cut that building out of our view you can see the reflection still there which means it's not screen space reflections it's proper ray traced reflections. To make this a little bit more obvious though what I'm going to do is just quickly create a material and we'll just call it mirror and we'll just throw some constants into this. So we want the roughness to be set to zero and then we're going to put a probably a one into base color and a one into metallic. So let's just set these up that looks pretty mirror like so let's just save that material close it down and we're going to apply it to one of the surfaces over here so we can see that it is in fact creating a little mirror for us. So I think what I'll do is I'll apply it to this wall here so let's drop that on there and then once that shade is done compiling you can see that we have proper ray traced reflections going on which is pretty darn nice and while we're here we'll also just take a look at this little statue thing because this is also using ray tracing to bend the light through it so if we just have a little look around that maybe not facing the reflection though there we're going to see that the light is bending through there lovely okay there's one more thing I want to show you while we're in this project if we look for the post processing volume because there is one in here this is where you can choose to change the settings for ray tracing so if we go to something like ambient occlusion we can tell it how much that we want so sorry ray traced ambient occlusion would be better wouldn't it so we'll enable it and then we can play with the settings a little bit and we can make it stronger we can have the radius go out make it look a little bit grittier and dirtier which is nice we can also turn on ray trace global illumination so if we enable that this will really tank your frame rate if we go to brute force but it does fill in the the background really nicely I'm a fan of that but I'm going to turn it off for now for the sake of my frame rate reflections we want to make sure a set to ray tracing as well which I think they should be by default and we can also make sure that the translucency is set to raster oh no translucency is set to ray tracing as well oh now we're talking oh so it turns out it wasn't ray tracing before look at it now oh that's pretty that is pretty thank you ray tracing okay so there's lots of settings that you can change in there so I've shown you that it's dead easy to get ray tracing enabled for a new project but what if you want to enable it for an existing project well I'm happy to report that this is also pretty simple to do here's how to enable ray tracing for existing projects with your project open you'll need to go into the project settings like this then in the platforms category choose windows and make sure the default RHI is set to direct X 12 which is the one that we need for ray tracing next we need to go to the engine category and choose rendering scroll down until you find ray tracing and tick the box you'll now get a warning that you will also need to enable skin cache for ray tracing to be enabled and you can select yes to have this turned on for you automagically the editor will now need to restart and your shaders will probably need to recompile but that's it you've now enabled ray tracing and control the attributes using a post processing volume just as before that's everything I wanted to share with you today hopefully you've learned something if you have definitely smash that like button and consider subscribing if you're new here here at game dev academy I upload weekly video tutorials covering game development and 3d art I like to end the video by thanking my super generous academy governors who support the channel through patreon your continued support means everything and helps me to keep this channel viable thanks for watching and I'll see you next time


The following is a presentation of TFNN the morning market kickoff With your host Tommy O'Brien Good morning everybody. I'm Tommy O'Brien company alive from TFN and Thursday morning 9 0 6 a.m We got about 24 minutes to go until the opening bell and we have markets barely in the red this morning all of them in the red Though S&P's negative by about nine points right now trading at 45 19 early yesterday got within about 20 points of all-time Highs on the S&P we give up some of those gains NASDAQ 100 off by about 35 points this morning down to 10% 15,000 344 you get the Dow off 84 points right now 35,000 393 in the Russell negative by just three Bitcoin quite the volatile session yesterday. We make an all-time high of 67,000 six. Excuse me. What is that I 67,000 680 we get back almost a 67,000 again early this morning We reach 60 side 66,960 you get a little bit of a sell-off there at 730 we trade from 66,000 to 50 you trade down 1500 bucks more technically negative 1475 dollars on the session in Bitcoin crude quite the acceleration yesterday almost made it to eighty four dollars Eighty three ninety six the high overnight. We're trading at eighty three ten right now go contract down two dollars at 1783 We check around to silver down 13 cents right now. We jump to notes and bonds We got the 10 year right now negative by eight ticks. We're trading at 132 you take a look at the yield right now. We're talking about a yield. I think we're above 1.7 percent No, we're at one point. Excuse me. I was gonna say above 1.67 percent We're at 1.66 percent right now on the 10 year 130 12 the 30 years negative 12 ticks at 157 24 And as we jump around to what else we have going on we jump over to the VIX the volatility index this morning 1585 up from a low of 1529 just yesterday low volatility in this market a little bit of elevated action right now as We have a market trading slightly lower But still under 16 with everything going on in this market pretty low volatility priced in as we're near all-time Highs and the economy facing a lot of pressure right now, but earnings delivering so far even early into the season It's Thursday 8 30 a.m. We get the jobless numbers 290,000 That was down 6,000 from the previous week previous week was 296 below the 300,000 estimate continuing claims Drop to a new pandemic low falling to 2.48 million for first-time filings 290,000 down 6,000 you look at the trend the trend is lower We're almost at a healthy number even in a functioning healthy economy You're gonna get some churn you're gonna get a number between about 200 and 300,000 on a weekly basis of an initial claim You could make the argument with everything going on that it shouldn't have the normal churn that you normally do As in that number could even dip a little bit lower Because of the number of people lost their job in the last year and a half the number of people that should be getting Their jobs back as this economy gets back to some form of normalcy So you could make that argument that we should see even lower numbers than 290 coming out of this considering the number Of so what we've had going back to even just the beginning of this year right in January I mean we were we were having numbers of 900,000 in January And it's been a slow decline since then but we're coming into October and There's your continuing claims as you see that dropping off as well The total of those receiving benefits under all state and federal programs fell by 369,000 to 2.8 million a year ago that number 23.8 million a big chunk of that was on the federal stimulus plan in terms of Emergency unemployment benefits four-week moving average 319,000 Weekly claims peaked at six point one five million an amazing number in April of 2020 nonetheless The market marches on we're down eight points right now as we come into things and let's just jump into the equities Moving we got a bunch of companies out with their numbers. We'll start it off with Tesla Strong numbers from Tesla last night. We're gonna open within about $7 or where we were last night We'll see where the market opens always interesting to see where supply actually meets demand once things accelerate We're trading at 857 51. You had the close yesterday about 865 Tesla were pretty decent numbers We'll get into those let's jump down the line in terms of what we're looking at Excuse me one second and I'm gonna scroll to the top here Where is my Tesla update? I had it up here and I think I closed it right before I came on So we'll get into that one a little bit After we talked to mr.  They beat by 9 cents a just a quarterly profit of 87 cents revenue comes in about Forecast seeing growth in demand for its phone and internet service as well as HBO and HBO max I would say HBO is a great Value proposition, but man, they are expensive. It's tough when you're competing with the likes of Netflix and Disney HBO I think it's something like 15 20 bucks a month on HBO Outstanding programming, but they're in a tough sector AT&T a lot more going on than what is going on in HBO But you see the real volatility in this equity. Yeah, you're getting a bounce today. You're 30 cents higher We just traded from 29 bucks in May down to 25 bucks for AT&T coming into that number So Blackstone higher in a big way Earnings a buck 28 Marco is only looking for 91 cents strong investment for performance BX is their symbol and talk about an acceleration You're gonna be opening at 132 on the open this morning. We have a higher 136 this thing It's just been non-stop From 60 bucks to start the year. You would train at 136 in September You're gonna be coming right up to those numbers Maybe you feel that gap that we had back from September in Blackstone Crocs I want to talk about how about Crocs. It just does not stop for Crocs Is that it no You can see our OX So we're gonna open at 150 on Crocs. You got a high here at 163 You really want to see a chart folks There's your three-year weekly down to eight bucks in the COVID lows you come into 2020 at a price of 40 bucks You're pushing 163 and you're gonna open today at 150 and take a look at the long-term chart of this thing Yeah, things get out of hand in 2007 Crocs. They almost died under 79 cents You almost die again down to single digits For man talk about a long time right Crocs going out of fade, but man, they are back in a big way You got a little bit of a spike coming into 2020 and it's just been quite an acceleration to the upside in a big way All right, what else we have going on folks you jumping around to where we are IBM out with their numbers beat estimates by two cents with adjusted quarter learnings of 252 revenue fell below Analyst forecast amid some weakness in the company's cloud business and pullback in client spending IBM slid five percent in pre-market trading IBM is their symbol and you're gonna be down about seven bucks There's the drop off on their numbers last now now IBM. This has been a tough one man Up to 152 jumping back to where we are though. I mean look at these trend lines folks watch this That's the five-year weekly And there's your max and we're just bumping right there and you're gonna open lower you commit to that earnings events now This is a monthly folks going back to 2013 Okay, but man I keep my eye in that channel line if you're an IBM I would want to see a break above that channel line and right now you have this thing Bumping up against the channel line as you commit to earnings and they miss and you're gonna trade lower And if you ever trade to the bottom of this channel line folks watch out because you're talking about will extend it to the right You talk about $80 on this equity and you're gonna open at 135 Don't think that's out of the question folks on IBM when you're in a channel line that is straight and down to the right All right folks. Stay tuned. We'll be coming back. We'll talk to our man Kevin Hinks We'll go over those Tesla numbers a bit later in the program as well We got Chipotle Mexican grill with their numbers tonight. Stay tuned folks. 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We have the s&p is negative by eight right now nasdaq 100 negative by 34 the dow negative by 74 All the market's negative, but we're right near an all-time highs. Basically you get the russell Uh in quite a little consolidation for itself the russell you get the upper boundary line The highs you're talking about all the way back in march of 23 66 you're trading right now at 22 85 In the russell jumping around to some of the equities with action this morning taking a look at tesla tesla With their numbers last night and as I said coming pretty close you're talking about nine dollars The expected move there about 30 35 bucks when you get into the weekly move, uh, we'll just jump over even, uh If you take a look, uh 28 dollars was priced into the actual earnings event If you go out to the weekly options, which is how you would really trade that so, you know, it's always nice When you have the expected move tied to an event and that's what the one day market maker expected move in yellow Here folks that appears we've had kevin on and I think we're going to get them In terms of when the implied volatility of the forward month comes in front of the months outside of it And you know when you're trading though the weekly options that expire october 22nd You got a 28 dollar move priced for their earnings But really i'm looking at sometimes you have a 37 dollar move priced for the options, right? Because you're buying a maybe wednesday through friday. You really want to know if you hold them Um, you only have two days in there. So that number sometimes more important than the move But if you're trading out a week or trading out a month or something like that Let's say you want to go out to the december number I mean look at the move that comes out in tesla and yeah tesla talk about some volatility You go out to the november numbers. Okay, you got a 97 dollar move priced in that's when it is nice to know Okay, you got a 97 dollar move priced in for implied volatility through november 19th of that 97 dollar move Almost 30 dollars of it is tied to the earnings event that we got last night that's going to get sucked out Right away now that'd be interesting. Okay at 9 30. Let's check back on this. All right 9 30 What's going to happen is we got a 97 dollar move priced in all these are going to get recalibrated when the options market opens And the 97 dollars Uh, should get sucked out to the tune of about 30 bucks. Maybe we'll see the november Monthly expiration. We'll check back and see how that number correlates as we open. Um, and you just don't know how that may play out We may see see a rising vixx that could hurt things. Uh, but nonetheless, we have that implied volatility right there Uh, and we'll see how tesla opens down about 9 bucks right now from where we were yesterday and some pretty decent earnings Overall living up to some of the expectations of the run it had recently All right, folks, let's jump over to our man kevin hanks from td ameritrade fast fast market every trading day new neestern time kevin hanks tom white the team at the td ameritrade network walking you through the market action Setting up hypothetical trades talking about defined risk talking about earning season kevin hanks. Good morning Good morning, tom. You're brian. Yep lots of earnings coming out lots of you know Pretty interesting stuff. Tommy as even the airlines that we were very worried about their numbers and everything Even they're beating on some lowered numbers and that may be exactly what this Earning season is starting to turn into right? It's like it feels like during the month of september Some of the expectations were ratcheted lower and we're beating those lower expectations so That that's okay, too. Tommy as we as you know, a lot of earnings are just about Expectations and the and the actual versus the expectations. So so far so good real good jobless claims Uh data this morning after the big drop last week it held that number I think that's real good to start the day, but no real serious economic data This week to rattle the markets, but uh lots of earnings. Tommy It is remarkable how the conversation can change so quickly right kevin I mean man, it's almost like no matter what media organization what newspaper you opened for the month of september It was talking about how are these companies going to earn a profit with rising wages with supply constraints With the market at all-time highs across the board with multiples getting a little funky to the upside Um and all of a sudden man, we're we're into earning season with some big companies already out And we got the s and p right now kevin within 30 points of all-time highs as that conversation shifts, man And we got some decent numbers out there tesla Um living up to the expectations just kind of like netflix as in just quite a run it's had recently They come out with the numbers and tesla's within right now We'll see how they open kevin, but within about nine bucks from where we closed yesterday What should take on the tesla action there? Uh after quite the run it's had and they're they're pretty pretty low volatile event considering the run that tesla's had In the volatility it has sometimes Both names tesla and netflix right have both had amazing historic runs into their earnings events And at least netflix is holding right right now and tesla is it closed at 865. It's only about down 10 bucks That's nothing. That's a that's a in the famous words of money python. That's a flesh wound Tommy That's not a big move at all for a stock like tesla in the numbers that they've been putting up So that's telling you that this stock is holding Where it is and you know this this it continues to defy gravity And its ability to grow and even in a tough car market it continues to grow It's still a fraction tommy of some of these auto automakers But the potential and the ability for this company to grow and beat Expectations is what keeps the stock at its lofty level It's pretty cool, man. I mean they talk about the haters on elon muskin. He's kind of Yeah, put put them all in their place as in and there was a there was a tumultuous couple years there And even elon's talked about it himself where they were on the cusp, you know, where they were pushing debt They weren't quite there. They had to get the model three out But yeah in the last couple years, man, they have really crushed it in a big way and the stock price is showing it We got the jobless claims number today kevin 290. So we've talked about it before in a healthy economy, right? You're getting some churn obviously on a weekly basis. Maybe it's between two and three hundred thousand As this market picks up, do you look for that number kevin? And i'm going out, you know, whether it's next three or six months You look for that number and I know this is I don't want to focus on it too much Because it's not a big number in the grand scheme of things But do you look for that number to come even lower because of kind of where we are things aren't normal Maybe as they think the economy really ratchets up. We won't have that type of change Do you ever look for that weekly initial claim maybe to get under 200 000? Is this thing ratchets up or are we kind of where we want to be during the pandemic Tommy? We were up at about we were down to about 220 in the mid 220s every week. So can it get closer to that? Yeah, well, I think there'll be some scars from the pandemic that may prohibit us from getting back down there right away Yeah, I also think that but can we get back down to that 250 level? It certainly looks like we're working that way and I think The month of october and the month of november are going to be pretty important in terms of people reentering the workforce If that happened right if that's happening Um, it should be happening in the next 30 to 60 days. I would think Tommy I agree man. It's so cool the time we're in right now. We have a market near all-time highs. We're coming into the end of the year Uh, tax selling is always a question. Not sure it's going to be the biggest question out there with everything else looming Uh, but there's just a lot of variables in the next couple months, whether it's job creation Where we end up in inflation the fed's going to begin tapering pretty cool And we have a vixk. Evan that's under historical norms sitting at 15 83 with everything going on this morning I know we still got about a bunch companies with earnings. What are you guys going to be talking about at fast market? at noon today, kevin Three big ones today. Tommy first intel and then like fully old do presentation on chipotle And then we'll finish up with snap. So we're all over the board today But three really good high profile companies Yeah, snap's an interesting one man for sure and chipotle I'm going to be interested to take a look at I mean snapchat seems like this company man when they wrote it off a while back It's amazing. You go back to the end of 2018. You were at four dollars almost like snap wasn't going to exist Uh, and you're trading today at 75 bucks, let alone just last year You were in single digits of the covet those and chipotle be interesting to see how they deal with some of the cost associated you had uh, the parent company of What was it chilis and maziano's out yesterday right eat brinker down big Um, and we'll see chipotle if they can live it up chipotle strong company man the way they're turning digital kevin, we appreciate the conversation man. We look forward to the program at noon today Thanks for having me on Tommy. Always a pleasure kevin. Have a great one, man Folks tune in noon eastern time fast market intel chipotle snapchat. We'll be right back for the open Are you having fun trading the markets? 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We get the market open We got markets barely in the red but catching a little bit of a bit on that opening bell s and p's down just six points right now We got the dial down 84 nasdaq 100 down about 18 points right now Excuse me jumping around to what we have going on in terms of tesla now. I got an opinion piece up here But there's a lot going on in terms of where They are with their numbers the strategy of using a less expensive more practical battery now being rolled out globally getting more cars On the road faster ultimately will win the ev race now This is an opinion article out there this morning, but the margins really did grow go up on tesla And i have to find the exact numbers on here. I had it up earlier in an article I was looking at and i'll get it up again later But tesla had some strong margins in terms of what they were coming out with and look at that You're within six bucks of where you closed yesterday folks 859 on tesla right now. We closed yesterday at 865 quite around there Jumping around some of the other companies with their numbers that are opening up You got blackstone up 2.8 percent on their numbers now unilever. All right. This is an interesting one up 9 10th percent today You get into the fundamentals of this company consumer goods company All right personal care and you're talking about everything in here folks You're talking about whether it's uh soup bullion snacks mayonnaise salad dressing. They got it all in there They had i heard the ceo out there talking this morning. They got helmans in there What else you got sun silk? Ice cream they are raising prices in a big way and they were talking about inflation tendencies persisting for the better part of about 12 months As in it takes a cycle to do that They put it in terms of basically an inflationary cycle that you only see every couple decades potentially But the ceo is just making a lot of sense out there basically saying a everything's going up. Okay inflation's here all right, we're going to raise our prices because there's no way about it got to do it and If that's happening across the board, okay, you're getting a recalibration now Things could subside in a year and here is a long time. Okay? We've been talking about transitory for how long six months maybe a year already And then it's going to be another year. How long is transitory? Is it two to three years? I don't know, but we're going to find out folks All right other companies out with numbers american air out with their numbers kevin was talking about As we kicked off the program you losing less than expected despite rising costs fuel expenses tripled In the third quarter to 1.95 billion revenue seen 20 below two years earlier Excuse me not bad Not bad at all in terms of we still have a long way to go For people feeling comfortable for travel especially for international travel and they're at revenue That's that's only 20 away from where they were two years ago, which is a form of normalcy I imagine when things really ratchet up and people are still taking trips and this is going to persist All right the pent up demand From living almost what are we pushing? We're pushing almost two years, right? That we've been through covet. We're already a year and a half now the pent up demand is going to last years I imagine as well. All right when you're thinking about traveling once we get over this hump folks All right, you're going to have kids that have the ability to get vaccinated soon Which will be great because let me tell you as a family with kids, all right You still have to be a little bit more cautious in my opinion Then if you're vaccinated yourself because unfortunately they haven't had that option Trying to avoid uh the kids getting it before they have that option Once you get over that and everybody can just be carefree That really opens the door to some serious demand. So american loss came in at 641 million The analysts were looking for a loss of a bucko three a share. They lost 99 cents Revenue nearly tripled from a year earlier now a year earlier Not even to to look at because it was so bad almost nine billion. They were supposed to come in at almost nine billion Uh as they said fuel costs dramatically higher It expects to pay as much as 248 a gallon for fuel up from an average of 207 in the third Warning about higher cost this coming quarter I mean just this quarter alone from last quarter prices were already rising last quarter You're going to pay almost 25 percent more you're paying 40 cents more almost 20 percent more than they were paying Last quarter that is quite a number fuel line jet fuel prices have doubled in the past year quite a number And as a revenue though only 20 percent below Well, the rise of the covet 19 delta variant delayed some of the revenue recovery It has not stopped our progress vast majority of employees have received the covet 19 vaccination under the mandate for federal contractors Most of the rest will get the shot by the november 24th deadline here Uh, and they I guess they had their preliminary results back october 12 Now interesting to see fizer and by ontek the booster debate out there Now it's interesting in terms of how this decides to get pushed out This is talking about the booster that they have a study out there of 10 000 people age 16 and older That have basically pushed the protection back up to full protection levels from the initial double shot excuse me now It's unfortunate that the message has been muddled at best pushing out boosters Regulators have wrestled with how to widely use boosters as the delta variant infections Rates up drives the infection rates up some countries such as israel pushing it out to everybody others such as the u.s. in europe Far more centralized in terms of who they're focusing on But nonetheless this looks like a pretty strong study and I wonder if this will change How that is applied in the u.s. And open things up a little bit more Dramatic the one thing that doesn't make sense. All right, and listen I'm out there promoting vaccines folks in a big way That's the way you're going to get over this to to protect yourself and those around you. They are safe They are effective. Okay. There are breakthrough cases as we see and it looks like As we navigate the science in real time that yes, there is some waning efficacy as things go out It might be something that especially as cases are Proceeding that they have boosters Uh But the message in terms of originally they said oh only people elderly or with weakened immune systems needed the booster What contradicted that? Okay, was the fact that then they said people in high risk such as even if you worked in a grocery store If you worked as a teacher or something like that Well, what makes no sense is that they said the people that were younger were fine Except if you are greater chance of exposure Well, if you're fine anyway, then what's the difference of your exposure rate if you all have the same protection? Okay, really what it spoke to was that they thought that there was some chance of waning efficacy and then if you had a greater chance of exposure Um, yes, you were still protected. It looks like from severe disease But breakthrough cases were more possible of waning efficacy. So then they decided to offer it to people in those situations I mean what that basically says is they're almost contradicting themselves that yes, there is some waning efficacy But they're only going to offer it to those that are more likely to be open to it where that gets Confusing at best is that everybody has their own situation situation folks. I have a household where I have two kids who are unvaccinated Um, I have a fiance that works in the hospital. Okay So you have possible exposures many times we have kids that are unvaccinated going to school etc Uh, hopefully this will help settle that debate of the science as it moves forward in real time We'll see but nonetheless you had Pfizer open positive and it's giving back some of those gains as we're talking about it Trading lowered down about a half a percent on their open by on tech. What is it by on tech? b i o n is that it? b n t x there it is Nice, we get uh, then we're really getting a nice boost up 3.6 percent today on that news Let's jump back to some of the stocks that are opening on their numbers Tesla getting a shoot up to the upside actually positive by about nine bucks right now to 875 We talked about blackstone continuing to run higher up about 3.6 percent right now to totally with their numbers And let's check back to tesla Excuse me And there it is the november numbers now $85 move priced in that was a hundred dollars before the market opened stay tuned folks. We'll be right back Are you in the market for buying or selling real estate in the bay area? Including the surrounding st. 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That's tfnn.com then hit watch tiger tv And just like that folks the market is open and tesla is running. Is that an all-time high? No, we made it to 901.904 tesla though trading higher right now We're up to 886 on acceleration from about 860 on the open on their numbers Uh jumping around to what else we got going on So if you are in the market to get fleeced I have an investment for you from the former president of the united states He has a special purpose acquisition corporation that he is pushing out to the public for a new social media company called truth And uh, you can be an investor in that company valued at 1.7 billion dollars under the symbol d w a c Uh, which is trading today up 28 percent folks I kid because uh, if you feel like throwing away some money, this is a nice way to do it This was announced yesterday. Uh, and already folks. All right, so you're talking about truth social Sites supposed to be in beta valued at 1.7 billion going out to the public with a SPAC that way they can say anything They want not be a regulatory approval. Uh, and already you have people on that site Even though you're not supposed to be doing it creating handles under the name donald trump Pushing things out to the public. They have a number of rules on that site 23rd rule of trump's plan social media site. You cannot disparage tarnish or otherwise harm in our opinion Us and or the site so can't talk about anything bad about the site that's going to be all about truth on truth social Uh folks, everybody loves to stay stick to the business stick to finance This is finance folks right there. They're pushing out to the public in the market as a regulated Investment vehicle valued at 1.7 billion dollars and somebody was out there buying it at 4am this morning at 20 bucks Well, they just lost a boat full boat full of money. Uh straight into 12 96 buyer beware to say the least over there All right jumping around to what else we got going on jumping down the line of other articles We got up here, uh stocks in terms of making moves. I talked about unilever um Dove soap helmets mayonnaise able to raise prices to offset higher input costs But warned that it expects inflation to likely accelerate in 2022. I bring it up again folks because um when when you see This type of a company which is consumer good facing across the board, okay What you have to understand is that they have their hands on the pulse of the economy and what's going on Okay, and if you're talking about soap and mayonnaise going up and you're talking about that company realizing that that's going to accelerate next year You better be ready in a big way Um for that one to take hold and for it to persist in a big way as well Let's jump around to some of the other stocks that are opening on their numbers crocs Uh still up 10 on their numbers right now. Yeah, IBM out with their numbers right now down 6.8 This thing's dropping out of bed continuing Tesla shares pushing even higher at 887 right now. What else do we have out with their numbers? Blackstone taking a look at blackstone up 2.5 strong in a big way All right, let's check around some of the fang stocks right now talking about uh Amazon right now flat And it's it's so crazy folks.  Um saying it's experimental It's rushed. It shouldn't be mandated very unfortunate where the conversation is going folks Okay, um, you know, it's it's we live in a society that we've had vaccines forever kids have had vaccines and been required to go to school forever Um, and it's really unfortunate. This has become political. Okay, because they are safe. They are effective We've required vaccines for school for as long as you can remember Um, and I imagine that's going to be coming down the line and everybody has their freedom of choice Nobody just likes the consequences. They deal with in those choices. Okay, they don't like the consequences of their choices They have choices. This is not the gestapo Mandating anything it's people not liking the consequences of their freedom of choice for the longest time You don't need to send kids to school Okay, if you don't want to vaccinate them But that means you own school them or you do your own deal. All right in the beginning It was that this was rushed. Okay, it's an experimental drug Well, we're at six billion plus doses of this vaccine given six billion with a b It's almost hard for the american the the human mind to comprehend six billion doses of this vaccine being pushed out Um, so I don't believe it's a constructive conversation talking about mandating vaccines being somehow against freedom when it's something we've done forever I mean, it's just a very very unfortunate development And uh, it is tied to the former president of the united states that got his mentioned earlier with his SPAC It's unfortunate that's become political and anti vaccination tendencies Span all political parties folks. Okay, there's plenty of tree hugger Liberals out in california that don't like vaccines. Okay, but the political aspect that has caught on on this vaccine Is not by chance and not by chance at all.  It is safe It is effective. All right jumping back to what else we've got going on jumping around to some of the stocks I like to take a look at uh, disney getting a little bit of a boost today But it's been quite a bullback this 170 area quite a little area of support here disney flirting with that area For the better part of we're pushing back to december of last year You trade down to that area again You're up about nine tenths percent right now on disney shares Uber said a little bit of a bounce from the lows we had In september you're trading at 46 72 right now on uber. You're up 1.6 percent today The cannabis stocks man. They just struggle struggle struggle to find a bit 14 27 we did get a bit a couple days ago. We gave back some of that gain I mean this thing's just really struggling had some volume the last couple days, which is interesting on canopy You're up 1.2 percent today all these markets climbing we get the rustle look at the rustle kitchen a bit Let me look at this. Look at that pop on the rustle up to 22 96 take a look at the rustle We might climb above 2,300 right now on the rustle as we climb we're 22 96 nasdaq 100 flat S&P's minus five. I think tesla's putting a little bit of a boost on there. Yeah tesla up 2.1 Accelerate it and right now bitcoin shares Uh bitcoin futures. I should say right now 65 500. We jump over to gold right now gold trading at 17 83 right now. All right, what else did I have up here in terms of articles taking a look at Talked about Pfizer talked about most of the stocks taking a move You had AT&T out with their numbers. Let's see how they're moving at this morning Holding on to some of the gains but giving it up. You're up about seven tenths. I talked about this stock earlier It's been quite a ride down for a while for AT&T So that could just be a dead cop bounce again taking a look at the daily Right nothing too exciting to get excited over there as this thing's really fallen out of bed recently IBM Yeah, cxx was out with their numbers last night as well.  So cxx or csx earns 43 cents a share 5 cents above estimates revenue exceeding estimates as well Uh driven by an increase in shipping volumes It was 3 above the strong year ago levels and they are up almost 4 3.3 percent in the positive this morning It was interesting yesterday. The story came out right that uh paypal interested in buying pinterest So there's pinterest down 1.2 but you open yesterday at 56 we're trading at almost 62 Paypal interesting that they had thinking about getting into that and boy, they're giving it up again Look at that from 273 down to 260 on that potential news this morning It recalibrates yet again down to 249 you take a look at this thing on a three-year weekly You are now back to almost where we started the year of 2021 you give up all of the gains We were up to 310. This is a strong company going forward folks and maybe that's a buying opportunity But boy be careful Because this has had to run up from 100 bucks to 300 you're only at 250 I mean, you know, there's nothing saying this thing get get back down to 200 bucks even being a strong company in the future But interesting they go after pinterest a little bit of a diversification pinterest Maybe an undervalued uh capitalization that they have going after stay tuned folks. We'll be right back to finish up the show Sharpening your skills as an investor is like getting better at playing a musical instrument You have to practice sure, but you also need excellent instruction from experts at tfnn You'll get advice and guidance from the authority and technical market analysis And it's not just dry tedious text either tfnn airs live financial content streamed live on tfnn.com and tfnn's youtube channel with tiger tv Live every market day from 8 30 a.m. To 4 p.m. Eastern for free Each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world From the moment the market opens until the closing bell sounds tiger tv has eight different shows with expert hosts to help You make the right moves with your money watch online at tfnn.com or on tfnn's youtube channel and become the investor You were born to be tfnn educating investors You might think that if you want to be successful at trading in the stock market You're going to need a crystal ball after all it's impossible to predict the future, right? 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That's<PHONE_NUMBER> This segment is brought to you by thinkorswim For more information, just click the thinkorswim banner on the front page of tfnn.com Welcome back folks. We get the s&p's right now down just three points trading at 45 24 those tech stocks trading higher NASDAQ up 10 points Tesla charging higher in a big way You're up 2.1 percent up 18 bucks the move expected was still about 30 bucks in Tesla So only an 18 18 dollar move to the upside On that index and jumping around the fang stocks amazon up half a percent right now You got microsoft up a third of a percent You got apple shares up about a tenth netflix on the heels of their earnings Accelerating higher up 1.75 percent for netflix shares. We jump to google shares Down to 10th percent and facebook shares right now down to 10th percent as well at $340. We jump to commodities crude holding pretty well at 82 71 gold right now pretty tame action at 1781 We jump over to the volatility index right now the vix trading at 1568 pretty interesting. We come into Uh pretty volatile earnings season expected and we got a vix that is under historical norms Now we jump to chipotle mexican grill They'll be out with their numbers after the bell tonight folks You got a 70 fall forward all the move priced into the earnings event Now what's cool is you got a 70 fall forward all the move priced to the earnings event You got a $80 move for the week So basically Six dollars will be the move that's priced in tomorrow after we find out Everything that has to do with earnings basically being all that volatility priced in for the earnings event tonight You're coming into that event At $1,828 the high was 1958 this thing has been quite a run from the lows of 415 Back in last march, uh, we'll call them the covet lows. You came into 2020 at about 850 The thing that'll be interesting about chipotle. They are a strong company and they got a great business plan Um, they're building some delivery units. Uh, excuse me some drive-through Units I forget what they call it. They have a specific name for their drive-throughs That are only available for those that order online for pickup You can't like pull up through the drive-through and have to order right because guess what that's decades ago technology folks Nobody wants to wait in line behind you. Well, you have to order you have to order online. You drive through you pick it up That's a recipe for future success in a big way But what may happen is what are the costs going to be associated with the business they're doing That's what i'm interested in finding out tonight with chipotle numbers. All right, folks Thanks so much for tuning in starting your day with me. Stay tuned. We got a man basil Chapman up next We have our man larry pesimento 5 at 11 fast market at 12. You heard it. They'll be talking snapchat They'll be talking chipotle. They'll be talking intel as well. Steve Rhodes. Dave white. Tom will buy it all this afternoon Thanks so much folks. Have a great thursday


Hi everyone, Joe for JaspysCaseBrakes.com coming at you with 2023 Top's Chrome Baseball Blaster Box Break No. 2. Last filler we got to do to unlock that definitive random number block that's coming up in the next video. Then the definitive break will be in the video after that. Very big thanks to this group right here for Megan and having some strong moves here. Thank you. So let's do the break first. Let's roll it randomized names and teams six and a one seven times each. One, two, three, four, five, six, seven. Six and a one seven times for the teams. Alright, there's the first half of the list right here. And there's the second half of the list right there. No trade windows. Here's the Blaster Box right there. And that definitive coming up a little bit later. Are they really? What's the score one? Mariner is Angels. Another disappointing season for the Angels. Kind of crazy how their, I don't know if this was actually, this may not be true, but sources are saying, and here's the final print out there, that the Angels front office suggested that, ate nothing. Angels front office suggested that if my if my trout asked for a trade that they would do their best to return. That's kind of a weird thing to have out there.  They've been pretty quiet, I think. Imagine your employer saying, listen, Duncan, if you, uh, if you wanted to look for a job somewhere else, we wouldn't stop you from going. How would you feel? And so Oscar Colas Sepia, relieved. Really? Suppose it's different if you're, uh, suppose it's different if you're, uh, your baseball player though. All right, there's some Michael Harris rookie cards, Oscar Colas Sepia, Michael Harris rookie, Josh Young rookie, Adley Rushman rookie. The Colas went to William and the White Sox, the Michael Harris, Nancy and the Braves, the Josh Young, William and the Rangers, and the Rushman went to Eugene and the Orioles. There's a Riley Green, Austin Hayes, a Jeremy Pena, Pena Pink, Riley Green will go to William and the Tigers. And we've got a card flipped around. That's Luis Roder to 275, White Sox, William. Numbered card, not so bad in this stuff. A little Purple Pulsar or Sonar or whatever they call it. And David Valar is Sepia, rookie Sepia for the Giants. That's going to be for Nancy. Let's flip back over here, gather everybody's names and let's see who's going to get into that definitive random number block randomizer. So let's roll it and randomize it. Six and a six, 12 times, hop three after 12. Good luck. One, two, three, four, five, six, seven, eight, nine, ten, eleven and twelfth and final time. Alright, so from four through 30 it's going to be sad times, but I appreciate everybody giving it a shot. Thank you. But happy time for the top three. That's going to be William is happy. So Eugene and Nancy. Congrats to the top three. We'll see you in the next video for that randomizer. Bye bye.


So, have you ever wondered what the big deal is with ISO? Photographers are always talking about it, and people are always talking about the ISO that they took a picture at, or when you're in an art gallery looking at photography, you might be seeing little notes underneath the photographs that sometimes say a speed, like 100 or 200. Sometimes you'll see 400 or 800, and even very rarely, you'll see numbers like 1600 or maybe even 3,200. A lot of advertisers or a lot of companies are advertising these higher speeds as well on cameras these days. And a lot of times you kind of look at that and think, okay, well, what does that mean? Well, it means a lot, actually. It means a lot to the quality of the photographs that you're taking, and it means a lot in the functionality of the camera. ISO is basically just the ability of film to take a photograph at a higher speed. So the higher the number, the faster the film, the faster it will be able to take a photograph. And this is just important when you're trying to capture action or motion and have higher shutter speeds so that your images aren't blurred. So, you know, if you have someone moving through an image and they're running or something like that, you want to have a higher shutter speed. That means you want to have a faster film, possibly, maybe depending on the light that you have. But let's talk a little bit in very general terms about what this means and why this is the way it is, why this works the way it does. And we're going to start by having two roles of film. We're going to have our slow film up top, and we're going to have our fast film down here at the bottom. So let's start with maybe a 100-speed film here. And down here we're going to have a 1600-speed film. And so for those of you who are digital shooters and have grown up in the time when film was not something that you've ever used, this might seem a little bit odd, but I'm going to start by explaining it how it worked back in the film days because it basically works the same now, and it is really important to kind of understand where this comes from and how this works. Now, old film basically used something called silver halide. And this was basically little flakes or is. I mean, I still use film, so I shouldn't speak of it as if it was not around anymore. But it used little tiny flecks of silver halide that would capture the light. So the light comes into the lens, into the camera box.  And you can see here I'm trying different colors. So we'll imagine that this is color film. And these tiny little points of silver halide are picking up the light and saying, oh, I see blue, or I see green, or I see purple, or whatever, seeing lots of different things. And when you had a lower-speed film, these pieces of silver halide were really small. Now, as you kind of move down the scales, as it gets darker, you need more light sensitivity. You need more light to hit the film in order for the photo to be useful. So you don't want a black photo, so you want to have the film be more sensitive to light. And to do that, you can do a lot of things. You can slow down your camera, so you open up the aperture and let more light into the box, into the camera, onto the film. And so you can have a faster lens and you can have a longer shutter speed, but sometimes you just need faster film because there's basically just three variables to all photography, your ISO, your shutter speed, and your aperture. Well, in order to achieve these higher speeds, they just kind of made the pieces of silver halide like a little bigger and a little bit more sensitive. You know, just use some different technology to make it work that way. So instead of having little tiny points, you had these kind of bigger points.  It kind of looks like it's covered in flakes. And those flakes are the silver halide that are just kind of working really hard to capture that light. So this was really common, basically. I mean, sort of starting around 800, but really sort of in the 16 pluses when you started to see really sort of what they called grain. This is called grain. I'll show you what grain looks like a little bit later. But that is how it worked back in the film days. And now let's take a look at how it works in the digital age. So now you have a digital sensor. It looks something like this in the back of your camera and your lens is maybe up here somewhere. And you've got this little cube and it's attached to a battery here. And we'll put little terminals on the battery.  We'll put a couple of different types of light coming in, maybe some red light coming in and some yellow light coming in. So all this light is coming in and it's falling on this light sensitive sensor. And the sensor is basically the opposite of a screen on a camera or on a, sorry, on a computer or something like that. It's little points, little pixels that are sensitive to light. And instead of kicking out the light, you know, so you're seeing it's instead of like projecting it, it's accepting it, it's sort of sucking it in and turning it into a file and then sending it off to your SD card to say, oh, here's a picture of my dog. And all of this is created by sending electricity through this sensor. So the sensor is getting some electricity. And the electricity is set at a certain amount for each ISO. So most sensors have a default ISO of around 200, something like that. So they say, okay, this is the amount of electricity that we send through. And each sensor is designed to be about ISO 200. That's where they're built to be about as sensitive as ISO 200. But if you want to move up and say you want to, I don't know, maybe you want 400. ISO 400 has another speed. So they add a little bit more juice to it to make it 400. So if they add the 200 speed and then they add a little bit more electricity and what the resulting file is then ISO 200. And maybe you have want ISO 800 and that sends a lot more energy in and sees something of, oh, okay, that's an 800 ISO image and the information comes out. So it's basically an analog digital surface that you're just pumping more electricity into it, gives you a higher ISO. And so the higher they get, though, the more the quality sinks because it works just the same way the silver hallowed work where you have bigger pieces of the sensor, sensitive area are working to expose that image. So instead of having a little tiny point, it's like a bigger point. And in principle, that's how it works. It's a little bit more complicated than that, obviously, but that's kind of the basics of it. So let's take a look at what this means for your images. I took these two photographs at two different speeds. This one here is at 200 and this one here is at 3,200. This is taken with an older camera that I used to use. And you can see just from this image, and I'm not sure if you can see this on YouTube, especially if you're watching this really small, but there's a pretty major difference here in the black right here. The quality of this black is very different. You can see it kind of looks speckled over here and over here it doesn't. You'll also notice here, especially important, the orange in the little eyes of our little, these are our robot pepper and salt shakers at my apartment, by the way. You can see that the contrast is a little different. So you can see that the colors aren't as vibrant in the higher ISO image and this is really common. So you have a decrease in quality with high ISO and you have sort of a drop in the color tonality and things like that. And some more important stuff, which I'll show you here in this little zoomed in version. You can see we've zoomed in on the pepper shaker here. And we'll call him Zolaar, the pepper shaker. And you can see here on his Zolaar's chest here, this is what it looks like here on the left, the 200, is what it really looks like.  But if you look at it on the 1600 or sorry, the 3200, I keep making this mistake, the 3200, you can see that it's like little flecks of blue and red and sort of, it just kind of looks a lot different. The quality isn't the same and it's not as good. And so you can see that everywhere though too. It's not just there, it's, you can see here and you can see it here and you can see it, especially in the orange, the color of the orange. And this is just basically the little pixels in the camera freaking out going like, where, what light am I seeing? I'm not sure and I'm being overwhelmed by electricity. Oh my God. So when you take an even closer look, you can really see how this works. And I think this is probably one of my favorite slides in the whole lesson. You can see how ISO works actually, just by looking at the image. You can see here that each individual pixel is saying, I see gray or I see brown or I see brown-yellow or I see black or sort of red-black. You can see what each pixel is saying. But if you look over here, you can see, like this pixel is like, hey I'm not sure what I'm saying, what are you seeing? And then they're kind of grouping together as buddies and saying like, oh we see gray or we see black or we see black or we see gray or this kind of brown color. So you can see them all working together. And the result of that is that there's a decrease in quality. I think one really good example is you can see here this sort of crease in Zolaar's head.  And you can see that in the ISO 200 image, but you can't see it here in the 32. And I didn't change the focus or the f-stop or anything. It was all the same, just different ISO and a different shutter speed obviously to make up for it. And you can see that there's a huge lacking or a drop in the quality. You can also see the shape of this little piece right here is totally different. And that's just, you know, the gray tones are not being understood by the pixels here. And here's a great example of grain. This is grain that I made a little example for you guys to sort of show how really, really grainy things can get if you're shooting in really low light. This was like a friend holding a really small flashlight over this bench. And you can see here that it's just like, I mean the camera has no idea what to do. You can see it's just over here it's black, but it's just being like, I think I see blue or red or I don't know, might see something. And you can see that the camera really does not know what to do. And this is just because it's not working with a whole lot of information.  Now I'm gonna run through really quickly and show you some examples of different situations that I would use different types of film speed. You can see here is a typical like sort of overcast sort of sunny-ish day and I wanted lots of detail and I want good colors. So I took this one at 100. Now a similar sort of day, it was actually about almost the exact same lighting situation. But in this situation I wanted a deeper, I wanted a really deep depth of focus. So you can see I wanted everything like from this tree all the way back to eternity to be in focus. And so I chose like a slightly higher f-stop. I think I'm here at like f-16 or something like that, which is kind of an area that I don't usually shoot in. I don't usually shoot at such high f-stop. And I thought, okay, well that's good, but I really kind of want a high shutter speed. So I'm gonna choose 200. And 200 is also the native ISO. And we talked about that a little bit earlier in earlier slide. It's also the native ISO of my camera. So when I'm outside doing photos in sunny weather and working in the studio with good lights, I always just shoot at 200 because that's the ISO that my camera was made to work at really. All right, here's an example of when I'm out on a day, actually I would say more than 200, I probably use 400. 400 is just perfect because you can use it inside, you can use it outside, you can use it all over the place. And especially with new digital cameras, ISO 400 is a really great speed for these kind of situations. I wanted a shallow depth of field. I wanted a high shutter speed. I wanted the photo to be taken very quickly, but good quality because I wanted to get the cutest baby in the world to be perfectly in focus and not any kind of motion blur or anything like that. And I also wanted some sort of good lighting and that's just 400 is great because you get good color and everything. So if you don't know when in doubt, switch it to 400. Also another example of 400 just but slightly pushed. I actually took this image at 400 and when you push film it's when you are when you push an ISO it's when you under expose. And I think I took it at 400 but I think it was supposed to maybe be like a 640 or something like that. And you can see in the processing when I like put it on my computer and edited, you can see that a little bit of grain came out. And that's really typical when you push, when you push a field image you under expose it and then you try to make up for it by sort of adding more light later. The computer does the same thing that your sensor would do. It just kind of imagines the colors and makes them look sort of not as good as they would have if you would have exposed it correctly. This is an example of high ISO saving your buttocks. This was taken at 1600 and it was probably actually meant to be taken at about 2000. I under exposed a little bit because I just wanted to have a higher shutter speed. And you can see here how high ISO can really get ya. You can see all this grain here. This is one of my favorite photos because it was a really good memory. It was a great trip where there's a horse trailer and I was riding through the mountains back home in Montana with some friends. And this was the night we were closing down the shop and putting everything away. And this is my dad's friend Jim closing up. And this is all just lit by one little, one little tiny light bulb back here, really small. So there's not a lot of light. And so I just turned up my ISO really quickly and took a photo. But you can see the quality is just not quite there. So all right, that was your introduction to ISO and sort of some of the different applications of different ISO speeds, things like that. You can learn more at alversity.org.