Good day, fellow investors. I receive a lot of comments to discuss financial metrics and in this video we'll discuss one of the most used financial metrics that's EV EBITDA. We'll discuss a bit of history where does the metric come from, we'll discuss how to calculate it, we'll discuss what are the issues in the calculation and then we'll discuss the pros, the cons and various opinions about the metric. Let me quickly start with the importance of EV EBITDA, how commonly it is used and then we'll go on to the calculations. In recent research from Pinto, from the CFA Institute on 2000 respondents found out that 92% of analysts mostly use a market-multiple approach from a price-earnings ratio from valuation ratio. From the market-multiple approach most of them use of course the price-earnings ratio, you put the price-earnings ratio everywhere but the second most used metric is enterprise value to EBITDA. All the options 92% is EV to EBITDA. So the second most used market metric and the one I most see when comparing companies especially in financial reports and analysts reports, when they analyze one company they compare it to others by using EV EBITDA. So let's dig into how the metric is calculated. First let's see what is enterprise value. Enterprise value is the market value of a business plus the debt, all interest-bearing debt plus minority interests if there are any plus preferred equity at market value plus unfunded pension liability. Minus what you can take out of the company let's say if you buy it that's the value of the associate companies and minus the cash and cash equivalents. So enterprise value is the market capitalization was the current market value and you add all the debt on top of it. So if you want to buy the company free of debt enterprise value is what you have to pay. Of course you can take out the cash and the value of stocks and similar things that the company owns. So if you want the company free of debt without the excessive cash that's enterprise value. A quick example on Apple's market capitalizations 794 billion minus cash and cash equivalents counts receivable receivables other current assets. I also took that away minus long term marketable securities those are mostly treasuries in the case of Apple plus in this case I put all the debt there. You can discuss should you put payable should you put that and that. So my calculation is enterprise value 724 billion and now it's very debatable what should be put in what should be deducted. It's a metric invented by somebody so what somebody said that's used you can agree you can't agree. So these calculations will always be debatable and therefore should be approached in a flexible way. You should calculate your own EV by using always the same method on all stocks and then you know it's comparable. If you look it from various data providers it will always be different. So the point is if that you want to buy Apple now you need to have 724 billion and then you can have it free of debt. And it's your company without of course the premium but that's what enterprise value shows. Now let's go to EBITDA in order to calculate EBITDA you have to add interest taxes depreciation and amortization to net income. Net income of Apple 46 billion plus taxes plus interest expense plus depreciation that's not shown on the income state and by Apple you have to go to the cash flow to take it we get to EBITDA of 74 billion. So Apple's EV to EBITDA is 9.69 which according to most financial analysts rule of thumb is that below 10 it's a good buy. Above 10 already the company starts to look expensive.  The rationale behind those things is that you can remove interest because that's up to the management how they want to finance their business. They can issue equity they can take loans so in order to see how the business is doing you remove interest. Depreciation some companies have more depreciation have some companies have less depreciation. It's not a cash expense so some say oh you can remove that from the calculations. Taxes taxes are different some companies have tax benefits some don't so again taxes vary all around the world. So if you want to compare businesses you eliminate taxes. So practically what you do you have net income and now you have at least something that's double or triple or quadruple. So when you show your results if you show EBITDA is much higher than net income. So in Apple's case net income is 46 billion EBITDA is 74 billion which number sounds better EBITDA. So all the promoters of EBITDA EBITDA are there because it's a higher number.  And you have more money to do things make acquisitions and so. Now the cons the cons of EBITDA measures are the following you can manipulate it. It's very volatile and excuse the focus from what's important in creating shareholder value. Let me show you a few examples. For example a company with market cap of 1 billion no debt and EBITDA 50 million has an EV EBITDA ratio of 20. A manager can take 500 million in debt at an 8% interest rate and invest it in a business that has a 10% temporary EBITDA yield. That's a risky business. Over the year the company's EBITDA is now double with an enterprise value of 1.5 billion. The new EV to EBITDA ratio is 15 which is much better than the previous 20. So according to the general analyst community that would be an improvement and the manager would get a bonus. What did the manager do? He practically multiplied by 10 times the risk of the company. In this recession what will happen? The EBITDA will get lower. There will be no money to pay the debt and the company will go bankrupt. The problem is that when you take debt you acquire a new business. Wall Street banks make provisions because they arrange the deals. They get the fees from the acquisition. The more merger and acquisition activity the more Wall Street banks make money. And EV to EBITDA measures have been used since the 1980s. The time of the leveraged buyout eras. When every company was buying out somebody else in order to leverage the buyout. Sell it at a higher price to somebody else and we all know how that finished. 20 years later we had again the 2007 crisis where you look at EBITDA. I can buy that, I can package that, subprime nobody cares, interest nobody cares.  And then Wall Street that uses EV EBITDA was bailed out by the government, thus you, the taxpayer. In Europe, in the US, in the Netherlands we still have banks that are owned by the government. And free banks I think were saved by the government in a country as stable as the Netherlands. So what will happen again? Well, as everybody continues to use EV EBITDA you can expect another bailout in the years to come. Mark my words. So removing taxes, interest, so who cares about the debt, depreciation, oh that's no cash. The only point of doing that is to increasing apparent income. So when you see a company that flashes EBITDA and not net income, ring your warning bells. Because it is a metric that's very skewed. Let me show you another thing. The metric is very, very volatile. So I have put here the current EBITDA of Rio Tinto, BHP and Norilsk. Rio, BHP, of course they are similar because the market values those companies according to EV EBITDA. Five years EV EBITDA, okay. However the five years earnings yield is much higher in BHP than Rio. Nevertheless dividend yields are there. Those are two comparable companies. Now look at Norilsk. The current EV EBITDA is double of the other two miners. So the other two should be a better company. However the five year EV EBITDA is much lower. The five year earnings yield is much higher, 7% more than double than theirs or three times Rio's. And the five year dividend is also double. So I leave it to you which one is the best company in this table. So to conclude an investor has to look at the business as it is. If you own a restaurant you don't care about the EV EBITDA of your restaurant. All you care is how to improve customer satisfaction. How to maybe increase your prices without turning away customers and making those customers return year after year. If you focus on leveraged buyouts those things have short legs usually. Going back to the Wall Street bailout. This is what happened since 2009. European high yield bonds skyrocketed. The SAP 500 is now also above 200% in returns. US high yield bonds also skyrocketed. All the assets skyrocketed. US wages, European wages are barely above inflation. So the people that bailed out Wall Street have again made a favor to Wall Street by increasing all asset prices. And they didn't get back anything because real wages haven't increased in the last nine years. We again make the same mistake. We let Wall Street focus on EV EBITDA while the value created for the community for the owners of those businesses is not there. So this is my opinion. I will conclude with Buffett and Munger's opinion. I think they are better investors than I am. So let's see what they have to say about EBITDA and EV EBITDA.  This is because depreciation makes you spend the money first and record the expense later. Buffett continues by describing EBITDA as a massive delusion but he understands the logic behind it as by eliminating some expenses valuations become higher which is in the interest of Wall Street. Especially if you are paid from the amount you manage not on the performance. A misleading statistic that can be used in pernicious ways. Munger goes even deeper.  This is just flashing double earnings than what they actually are. To quote nobody is in the right mind who thinks depreciation is not an expense. Munger closes his shareholder meeting discussions by saying that the usage of EBITDA in business school is horror squared. It is bad enough that a bunch of thieves, Wall Street, use the term but even worse when business schools copy. So we have a proliferation of EV EBITDA. However, I think it's useless that the metric, okay you can use it, you can look at what analysts say but basic earnings, fundamental future cash flows that you can receive is what will make your returns not EV EBITDA. I'm looking forward to the comments especially from the analysts watching the channel. How do you feel about what I said now? Will you continue using it? Are you pressured by your management to use it? So I think we can make an interesting discussion. Click like if you like the content, subscribe for more investment discussions, a bit different views than the mainstream investing community but I think that's where the value is in this channel. I'll see you in the next video.


The following is a presentation of TFNN. The Traders Edge with Steve Rhodes. Toll free at 1-877-927-6648 or internationally at<PHONE_NUMBER>. The Traders Edge. Now, Steve Rhodes. Good morning, folks. Welcome to the October 21st. The fantastic Friday edition of today's Traders Edge show. I'm your host, Steve. Perseverance Rhodes, who absolutely knows that each of us should always be pioneers of our future versus prisoners of our past. Hope everyone out there is having a great day. Let's make sure we have an extraordinary one. And the easiest way to do that, it's to always remember that life is happening for us, not to us. That's right. When you and I make that one little two-by-four shift, it means we can find the gift in every set of circumstances that life is going to toss at us. Now, today, you and I, we're going to go check on the circumstance of these markets. We'll go figure out what those bulls and bears, what those buyers and sellers are communicating to you and I at just past 8 o'clock in the morning. That's right. If you're listening at the normal time, thanks so much for doing that. We'll make this show as pertinent as we can for you during that 11 o'clock hour. But if you are listening live, we would love to hear from you. So you can reach us at<PHONE_NUMBER>. If you can't call in, but you still have a question, then go ahead and send me an email. Send it early. Send it to Steve at TFNN.com. And if you'd be so kind to put radio show question in that subject. And of course, inside our Tigers, then, well, any and every ping will do. So let's go ahead and get this show started on fantastic Friday. Of course, this is Tiger. Financial News Network. I'm Steve Rhodes. Welcome to the show. So at 8.08 in the morning, we've got all U.S. equity futures trading in the downside. Dow's up 172 points. About 6 tenths were sent. 1% for the Nasdaq. That's 111 points. The S&P down 6 tenths are 24 points. And the Russell's off 7 points. That's about 4 tenths to the downside. Over in Asia last night, a bit of a mixed bag. You had the Shanghai up 4 points. So basically flat, but the Nikkei was off 116. And the Hang sang off 69. Now all three of those markets are still signaling to us that they want to move to higher ground. Over in Germany right now, the DAX is up 174. And the FTSE is down 51. Really the same signal there. We're not looking at the charts, but I do know that price is pulling back the key levels of support there. Gold also really tested in the area of support. It's down 9 bucks right now. Trade out at 1627. Silver's off 38 cents in 1831. You've got natural gas is out down another quarter. No bottom yet in sight there. Lights we crude is up 38 cents. 84.89 is what it's printing out there in the US dollar index. Again, there's a 10 minute delay that I have here, but some 57 ticks trade out at 113.39. In fact, let's do this here just for a quick overview. Let's just take a look at our nine panel market update chart. So begin by take a look at the ES mini up in the upper left hand side. So we can see here is prices pulled back into its daily profile. So now the next area of support or potential support is right around that center. And that center is 3629. Although I'm not showing it, the asset and change line is at about the same area. Spot politics still above its 50 day exponential moving average. Things will not get rocking and rolling to the upside unless there is a close below that 50 day exponential moving average. That is currently printed at 2845. The spot fix trading out at 3022. You can see that the NQ is back inside his profile, never left its profile. It's been consolidated between 10, 733 and 11, 231. U.S. dollar index again trading higher this morning. I do have a 10 minute delay here. Nonetheless, it's above the top of its daily profile. It's within side a weekly profile, taking some of its weekly profile as well. And this is suggesting to run back to its recent high at 114.74. I mentioned that gold is testing support. It's both a TD nine count support level at 1627.7. And below that the roads momentum indicator support at 1622.20. That's the key level to be watching there 1622.20. You get a close below that. That says lower price. Now today is going to complete a TD nine count bottom for gold on the daily basis. Yesterday was bar number nine. Today is the bar following bar number nine. So that also means even if we did get a close below 1622.20. An order for the markets to suggest the goal. That is that it wants to continue to move lower. You'd see the need. You would need to see a close below today's low. I don't know what that is. I know what it is right now at 1621.10. I don't know what it will be at the end. But nonetheless, you do have a TD nine count bottom signal going into another TD nine count and roads momentum indicator signal. If we get a bullish reversal candidate today, you've also got a second roads momentum indicator bottom. The case of silver here pulling back, but still above the support of its daily bottom of its profile at 1823. And trading in between a rising and descending trend line out here. If we take a look at late sweet crude, got a little bit of a rally, but yesterday is kind of an interesting signal here. What I mean by that is price and close below the bottom of its daily profile. The daily profiles are the ones that are in blue. The green ones are the ones that are the weekly. Yesterday's moves, we had two consecutive, more than two consecutive flows below the bottom of the daily. And yesterday's rally found resistance where a counter trend moved to the upside would find resistance. And that's at the center of its bullish structure profile. That price point is 86.75. So unless price gets back above the daily, at least the bottom of the profile at 85.35 today, this could be signaling to you and I that price wants to make move down to 79.67. If we take a look at natural gas, you can see the A to B equals CD pattern to the downside out there. It's next price projection area would be the one to two, A to B equals CD area. That's at the $5 and 12 cent level. Any bullish reversal candle that forms between now and then would confirm A by the D point pattern. And if you take a look at the 30 year treasury, continuing to trade lower down at 1.1831, a week from, well, I guess it's not next Friday that's the end of the month. It's the following Monday. And if we see a close below, I think it's 1.2130 out there, that just spells curtains and suggests, well, rates are going to rise, and that the 30 year treasury is going to continue to move lower. So that's a good overview of the markets out there. Let's go take a look at some more details. Let's go take a look at what's going on inside of the ES mini. So we're going to change our windows. We're going to go to our multi set of timeframe charts out here. And it begins with the daily. Then you've got the five hour, four hour, two hour, 60, 30, 15 and the 10 minute chart. Now the chart pattern that sticks out the most to me as we speak right now is really the one coming from the two hour timeframe chart, the 120 minute chart out there. So I'm just simply going to expand that. And I'll explain the reason why the two hour chart is the one that I find most interesting right now. First, we have a nice TD nine count top that form. So we know where the high is at. Price then made its move back to its breakout levels, board of 3688 finally really broke through that area at two o'clock yesterday afternoon, remain below it, really setting up an A to B equal CD to the downside. So that's drawn in there by those blue lines. So we know that it has at least achieved that one to one price target. Well, in doing so, on a two hour timeframe, this also went ahead and confirmed a TD nine count bottom. So that says that that low, this low that came in at six o'clock this morning, that low is 3647. A close below 3647 is going to suggest to run the 3609 unless some type of bullish reversal candle were to form before that, which would then generate a buy the D point or in this case here a Gartley buy pattern. But right now you've got a key area of support that is being tested. You want to keep an eye on that. That is the TD nine count low that occurred on bar number nine. Again, that's 3647. We're trading at 3649. Now, if we switch over from the two hour chart and start taking a look at the smaller timeframe, the intraday chart. So we have any kind of bottoming signals here. Well, turns out the 10 minute chart had a TD nine count bottom that formed in the bar following bar number nine. Again, that's 3647. So if we get a close below that, that negates that signal and it sets up a small A to B equal CD to the downside on a 10 minute time frame chart out here. I don't have any kind of bottoming signals on the 30 or the 15 surely there is a A to B equal CD pattern out there just like we're showing here on the 60 minute time frame chart. That's really going to be that 3647 level. There's going to be a key area for us to watch and observe. Steve Rhodes with TFNN. We'll be right back. Teddy Kegstad has just announced a live webinar coming up for subscribers to his newsletter, the Tiger Forex report. Wednesday, October 26th at 4 p.m. Eastern time, Teddy will be hosting a live 60 minute webinar for X strategies and fundamentals. What is behind the Tiger Forex report newsletter in this 60 minute webinar? Teddy will be discussing a full breakdown of the markets that influence currency pairs as well as applying those variables to individual currency pairs, how to evaluate trading scenarios for risk versus reward as well as a live question and answer session. Sign up now and gain instant access to this live webinar coming up as well as a month subscription to Teddy's Tiger Forex report which comes with a 30 day money-back guarantee so you have nothing to risk. Don't miss out on this live webinar event with Teddy Kegstad Wednesday, October 26th. Sign up now for the Tiger Forex report at the front page of TFNN.com. Are you looking for a way to consistently add winning trades to your portfolio? Tom O'Brien is here to help. Tom O'Brien has been successfully trading markets for over 30 years. A frequent contributor to TD Ameritrade Network and CNBC, Tom O'Brien founded TFNN over 20 years ago to help educate investors just like you. 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First-time subscribers also get a 30-day money-back guarantee. If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up. TFNN.com, educating investors. Thank you so much for joining. If you're listening at the normal time, thanks so much for doing that. We've got the charts up here for the charts for the equity-future contracts for the two-hour timeframe. Inside the tiger's den says, wow, I see why you picked the 120-minute chart out there. We were taking a look at the TD9 count. Part of the other reason why I picked that 120-minute timeframe is because I take a look at these multi-time frame charts. They're multi-time frame or time frames where each of them are generating good signals for us to watch. Now, because we're pattern traders here during the traders' end show, what we can see here on the two-hour charts is each of these have TD9 count tops. So you can see that. So price needs to take those levels out in order to suggest to us that the move lower is over and there's going to be a further rally. We also had a nice TD9 count bottom. We took a look at that for the ES mini. Schedule, then the ES mini. The NQs is going to complete its TD9 count, the following bar number 9 as we come to the 10 o'clock hour. That's a lower low out there. So between at 11 o'clock, you'll know what the low was during that 10 o'clock session out there. And the price of trading below that tells us we're headed lower. Now, headed lower, the price target on a two-hour timeframe would be 10771-50. The Russell 2000, it is actually right now at the bottom it had, it just negated, I believe, 16, 1698, 60, 1698, 30. It did have wave number 7, that's letter G out there, but price is already peaked below that, or pushed below that area, so that doesn't have the bottom signal. Its bottom signal, if there is one here, is at the 169680 level, that's a TD9 count breakout area. You can see a nice TD9 count on the Dow equity future contract. That completed 10 o'clock, that says a close at 10 o'clock below its low, which is 3177, says lower price. The lower price target here would be the 29805 area. So it's really about, you know, about really trying to identify the sets of charts or timeframes that are providing us with the most information. Now, I prefer it not to be a two-hour chart, because you got to wait, you know, in this case here, until 10 o'clock to get the next signal. So we, you know, we look to the charts here, we'll just simply go ahead and take a look at another level of support that I'm watching the ESMini hit here right now, and that is its Apogee pivot point, which is at 364425. So Apogee, which is the point in time where the moon is furthest from the earth during the current lunar phase, that took place on October 17th, I think it was 620 in the morning, if I'm not mistaken out there, and what we do, or what I do, is identify the exact price where price is trading at that moment in time, and I just simply mark that. For some reason, reasons I don't understand, I just know that it works. It either acts as a key, it acts as a key level of support or resistance. In this case right now, it is the support area. So 364425, we're trading just lightly below that. This is a 30-minute chart, I prefer to use a 30-minute timeframe when it comes to whether or not a key area of support or resistance has failed. And so that's a timeframe chart that you see up here on the screen. So right now, between the daily ESMini 120-minute timeframe chart, price pulling back to a very key level in a 30-minute, the Apigee pivot point out there, it's going to be interesting. Now, if we take a look at the NQ, you'll see an A to B equal CD down pattern that I've drawn in here. Price is below that 1108. If price continues to move lower out there, it needs to get down to 1090150, 1 to get to the 1 to 1 A to B equal CD, also that happens to be its Apigee pivot point.  We can see that in over the last many hours out here, prices found resistance at that Apigee pivot point 8507. That's a level I would note on your pad of paper. If you see Lightsby Crude trading above that, that suggests higher price and Goldilocks is well below its Apigee pivot point. So it's really about just simply coming back. Take a look at the ES, the NQ and so forth. Oh, did I not switch charts? Geez, Louise DV. I did not change the charts out there. I'm sorry. So here's those charts. I don't wish to have to repeat myself, but shop a file for you. Let me just get that. I'll leave that up here on the screen just for a moment, just simply so you can copy that data down while I type in another instrument that someone wants to look at out there. So that covers the, so in summary you got the ES many. If it's going to bottom, it's going to bottom basically right here right now as we speak, give or take out there because price is pushing back to these areas of support. So let's do this here. Let's do this here. It's got three minutes. I'm going to do this. We'll go to the request after this little segment here, but you know, there was a, when I logged in this morning, I was reading a couple of comments just inside the Tiger's Den just to see what folks were talking about. And what I did was I noticed something that caught my attention. It was posted by Dudette in the Tiger's Den. I thought her observations were pretty interesting. I just wrote one of them down, which was that she wrote, Pakistan Pakistan is ready to ignite. The UK is in turmoil, right? France is on strike and people are queuing up for gas for hours. And she went on to say US partners, meaning those countries are going to put a lot of pressure on the US to have the Fed lift the foot off of the pedal out there. But the Fed has indicated to us, they've got no interest in doing that, and we're seeing that play out. And we take a look at the 30-year Treasury as an example. Let's pull up those charts out here. Make sure I'm on the right screen. I am. So if we take a look at the 30-year Treasury, I mean, this thing is just looking horrible. We're now, on a monthly basis, we're below the 1 to 1.272 A to B equal CD to the downside. Its next price target out here on the longer-term timeframe is down at $108.  So why is that? So the why is that the Bank of International Settlements, there's a lot of great information that you can garner out here. This is one that I pay attention to, this little LCM FAQ book out here. And I pointed this out yesterday, I think yesterday afternoon inside the Tiger's Den. The question that I posed was, do you realize, does anybody understand, does anybody know approximately how much fixed income is out there? And at the end of 2021, according to the Bank of International Settlements, there was $126.9 trillion. That's really the center little graph that we're taking a look at out here. But the more interesting thing is that, and that's up from back in 2012 when that was at about $87 trillion. So $126 trillion. But the more interesting thing here is if I just total up everything outside of the US out here, what that totals is $77 trillion. So if rates are going up in the US, we know that bonds are getting croaked everywhere. We see that here in the US. That's the same overseas at some point in time. So why is the US market holding up better than perhaps other markets out there? And the answer is we see that the US, the dollar, that is the safe haven trade. Well, so too is almost anything US dollar denominated, so to speak. And we are going to see this fixed income certainly from overseas make its way and maybe it's already making its way over here. And that is likely some of the reason why our markets are holding up better than other markets. Now the real important reason to show you that is because at some point in time here that overall global flow of capital is what is going to lead our markets higher. We've seen that take place before in the past. This is just taking a look at the Euro versus the S&P 500 and its global flight to capital. If we take a look at the Euro right now, the Euro looks like it wants to go head down to 0.844. The lows on a closing basis takes us back into the 2001 timeframe so good observation, do debt and I think this is the reason why the US markets are holding up better. See Rhodes with TFNN. We'll be right back. TFNN is excited about our new software charting program, the Art of Timing the Trade Chart. 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There's no catch or added costs when you join our community of traders. Sign up today and become a part of this educational community of traders. Just visit the front page of tfnn.com. Back up folks, 8.29 the morning. Dow futures down to 14. It has to XAUF 143, S&P 149, RUX 11, we're going to take a look at some requests that have come in. First here, the chart analyzer that I'm showing shows you all kinds of markets. It's got my multiple timeframes up there. Daily, weekly, monthly, 15, 30, 65, 130-minute timeframes. It shows you what those market conditions are. It shows you whether or not there is a Roadsman Dementicator signal, whether it's a top or bottom out there. It shows you what the current daily TD-9 counts are for those many of those as of last night. It shows you the Chapman wave up and down signals as we speak, tells you where the oscillator and change line is, whether it's support to the oscillator and change lines, either support or resistance. I mean, the price is above or below and whether or not that arrow is identifying whether the price also is above or below zero out there. You've got your TD9 count support and resistance levels. You've got your TAS market profile levels out there. And then we have our last TD9 count top and last TD9 count bottom signal. I see that last bottom signal here is just being cut off just a tad. So subscribers get this very helpful, especially understanding where support and resistance levels are for these larger timeframes and what the current market conditions are. So I just thought I would share that with you in case you're interested in testing out the Mastering Probability Newsletter. So now let's go take a look at our first request. That came in from Tim M. this morning at about 7.58. So let's get over to that set of charts out there. And his request is to take a look at ticker symbol S-A-N-M. S-A-N-M is a San MENA corporation out there. And the question goes like this. I'm in a long position in San MENA. Could you please take a look at support levels on a daily and weekly timeframe? So if we take a look at support out here, it's really going to be the top of its barestructured profile that formed yesterday. The top of that profile, because price closed above it yesterday. It's trading above it right now. So the very first level Tim could be paying attention to is the top of that profile. And that's at 52.47. If price were to close below that, then your next area of support is going to be 51.45. And below that, 51.28 is its green oscillator and change line. If price were to close below that, then you're looking at 48.91. But right now, you've got what looks like an aid. You're taking out a prior swing point.  Well, that swing right here was a trading day of August 26th. Volume on that was 261,000 shares. A few days ago when price closed above that, that was with 378,000 shares. So in essence, you've got a potential A to B equal CD to the upside that was confirmed out there for the daily timeframe. So I've given you the daily support and resistance areas on a weekly basis. Your support level is also going to be at the top of its bearish structured weekly profile. Now I'm assuming that price will close above it this week. 50.91 is that level. 52.75 is where this closed that yesterday. So as long as price remains above 50.91, let's suggest, well, one, it says stay with that long position. We just took a look at a potential A to B equal CD to the upside on the daily timeframe. The only signal of caution really comes from the monthly chart out here. The monthly chart shows we have a wave number seven. Signal, you've got two of them, just you know, on how I start my accounts out here. But we also have a Rosemont Dominicator signal price above its profile levels as well. This would really need a bearish reversal candle to confirm a top out there. So I like this, so nice trade there, Tim. Stay with that trade. I provide you with the support areas out there. If there's anything else that you need, please feel free to write back in and thanks so much for taking the time for the request. Next request coming in from Hector and Patty. They want to take a look at the real estate sector, XLRE. So the question by Hector and Patty says, happy, fantastic, fabulous Friday. Absolutely, and back at you. XLRE, on a daily and weekly, why would you draw A to B equal CD down patterns out there? Sitting here watching the XLRE like a trout about to pounce on a grub at worm. Thanks, have a super weekend. Well, you do as well. So I've got the, we'll go back and give you those A to B equal CD patterns, assuming that I can find them as well. Right now I've just got those white background charts up on our screen. So let's just take a look at those. What we know about the energy of the energy, the real estate sector is much like the market did back last week on the 13th, out there was that last week or the week before, generated a nice roadsmint to indicator bottom. And it looked like the real estate sector was going to break out on October 18th when price closed above the top of its profile. Unfortunately yesterday, price got right back below. It says that that breakout was a false signal. So right now what you have in the real estate sector, Hector, is a consolidation between 3350 and 3535. If we look at the weekly timeframe, this is going to complete or appears we'll complete a TD nine count pattern today. All right, we'll form that pattern today. We'll complete that pattern next week because a lower low can occur on the bar following bar number nine. But what you do have, you will have is a confirmed bottom signal for the weekly timeframe chart. Now, on a monthly basis, prices point back and tested this breakout level. That's after confirming roadsmint to indicator top. That error was 3429. If that level fails in 3011, we've come its price target. Now, your question was, can we try to draw in some A to B equal CD patterns? And the tool that I have that really does that is on the black background screens right now. So that's why we're going to go switch back over here. So I'd say the easier pattern to draw is start with the larger time frames. And so the monthly chart, I think, Hector, if you take a look at that patty and everybody else that's watching, I think that's become, so we've gotten rid of a lot of noise out there. So here's pretty easy to find the highest high. That looks like that was a month of December, 2021 out there. So that's going to become our A point. Our B point was just move all the way down into June of 2022. Price got down to 3863. And then we had about a two month retracement, two bar retracement, so to speak, up into August. So now what you can see on the XLR-E is we have a clear, now that B point, on a monthly basis at 154 million shares was passed with 127. This month right now we're at 122. So you pass it with a lighter volume. Can you still do the A to B equal CD? Well, the answer is yes, right? So just the volume piece of it gives us maybe a little bit more conviction, but that does not mean that an A to B equal CD is to the upside or the downside won't complete once you pass that B point. So that makes that kind of easy. I think the weekly charts also make it pretty easy. Here, Hector, the high, at least from where I pulled back, it's going to be that same high at 52, 17. That's our A point. The B point out here, that's going to be the low from June 13th, and the C point's going to be the high that formed the week of August 15th. So now you've got that same A to B equal CD. Now it's B point to have volume of 55 million shares. It was passed with 33 million shares, 43 million shares, 43 million shares, 49 million shares. So again, lighter volume, but doesn't mean that the A to B equal CD pattern will not complete. So now, can we find something different on the daily timeframe? I don't know if it's different or not, but what I am going to start with here is what I would say would be the smaller, there's really a couple different A to B equal CD patterns. So on the daily, let's use the one that is most current, and that would be using that, so I'll draw them both in here, but you had August 15th's high would be the A point. The B point is going to be the low from September 2nd. The C point or the retracement that B to C leg takes us up into I of September 12th, 48% retracement. So here you can see that you're inside a daily profile with support at 33.50, resistance 35, 35. You've got the confirmed by the D point pattern. That was at Bullsion Golfing Candle that formed at the one to two level out there. So there's larger ones that we can draw in here. For example, I could draw this A to B equal CD. This has got the high out here. There's going to be multiple A to B equal CD patterns within side A to B equal CDs. That's no problem out here. June 14th looks like that was the B point, and then again on August 15th. So here you can see that one to one level if we use that A to B equal CD out there. And again, this has a confirmed by the D point pattern, but when we looked at those white background charts, we already saw a confirmed rosement and indicator signal. So now it's really all about support and support being the low of that pattern out there. So that's the real key level to be watching Hector. That's down at that low from the trading day of August, October 13th, and that level is at 3312. So those are your A to B equal CDs out there. That's for Hector and Patty. Of course, I'd love to hear from you as well, folks.<PHONE_NUMBER>, we'll get back to this break. We're going to go take Lincoln's Shopify and then the Exxon mobile. 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, like any endeavor in life. Before you decide it's impossible, get some advice from the experts. You might find that it's not so impossible after all. For daily market overviews that give you direction on the key indices, selective stocks, and commodities, subscribe to the opening call newsletter at tfnn.com. The opening call newsletter is written by Basil Chapman, creator of the trading methodology known as the Chapman Wave. The Chapman Wave up-down sequence gives you an edge in identifying price turns, finding the peaks and valleys in stock prices.  First-time subscribers also get a 30-day money-back guarantee. If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up. tfnn.com, educating investors. 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This program is brought to you by Vista Gold, traded on the NYSE American and TSX under the symbol VGZ. Welcome back folks right now. It's 8.42 in the morning. We've got US equity futures pointing lower. Dow futures down 216, NASDAQ up 136, S&P 28, Russell down 10. Gold's up 12 bucks, trading at 1624. Silver down 41 cents. Lights recruiters basically flat, trading out at 84.58. We're taking a Shopify here. This is for S&P inside the Tigers Den. I think the request was just to take a look at it, I might apologize, I can't recall, but here's what we know about Shopify. A number one, I'm assuming that, well, let's look at the weekly chart first. You've got a nice TD9 account, bottom out here, Roadsman to Mindicator bottom. The issue for Shopify is getting back into its weekly profile. So S&P, that's really the key level of resistance. Price got up to it this week so far. 30.71 is the number. We're trading below yesterday's close right now. Shopify is trading out in the pre-market at about last trade fired up at 28.68 out there. So, but if price can overcome that 30.71, that doesn't mean it's out of the woods. It's a bullish structure profile on a weekly basis that price closed below for more than two sessions out there. So the counter trend level on a bounce is 33.98. If price can close above that, then that suggests moved to 38.89 and then 41.10. On a monthly timeframe, Shopify last month formed a TD9 account, completed the TD9 account bottom, right at its second level of breakout support, 28.21. So you've got a valid bottom on the weekly and monthly. This is absolutely trying to form a bottom, but in order to really prove that to us, it's got to get above 33.98 out there. Now, yesterday, price did close above a swing point. This was only about a 30%, not a 0.382 retracement out there. So there's the potential that you've got an A to B equal CD to the upside that's formed here. I prefer to see about a 38% retracement, but 30 is going to be maybe close enough. But price needs to remain above that 29.72 level out there. And we're trading below that as we speak right now. So Shopify this morning, when it opens, we know it's trading lower. And on a 30 minute timeframe chart, what that's going to do is at least get to bar number nine, that's between 9.30 and 10, and maybe the bar following nine. So on a 30 minute basis S&P, it's very possible that Shopify will form a bottom between the open at 9.30 and 10 o'clock and 10.30. So between 9.30 and 10.30, Shopify should form a bottom and bounce from there. And if it doesn't, then what that's telling you is Shopify wants to pull back maybe that 28.04 level, perhaps even 27.07. And now in the pre-market, I did say it was trading out. So as we look at these 30 minute charts out here, last rate brought up at 28.70, which is, you can see it's only two profile lines out here. The reason why you only see two profile lines on a 30 minute timeframe is because the bottom and the center are at the same price area, 28.39. So that's your real strong area or should be a real strong area of support out there S&P. So that's Shopify. I hope that provided you with the information that you're looking for. If not, just ping me back and we'll get to that information. Last request that I've got so far is to take a look at Exxon Mobile. XOM is a ticker symbol. That's coming in from Alex. Alex writes in and says, hey Steve, Exxon Mobile high yesterday was 105. He's got his 105 even Stephen. We'll go back to the yearly high of 105.57 short term. Thanks, Alex, all the best. So now we're getting pretty granular out here. What we can see when we take a look at the Exxon Mobile charts here, Alex, is yesterday price closed above the top of its daily profile or two days ago. And then yesterday was another close above it. So the move above resistance appears to be real. Now, Exxon Mobile in the pre-market closed yesterday at 103.93, trade at 103.66. So it's still above the top of that daily profile. So the answer to your question would be the daily timeframe is suggesting, yes, that is a likely possibility. Getting back to that high. If we take a look at the weekly timeframe chart, price is also above the top of its weekly profile. And this would be week number one above it. And above it is the it is 101.37. So a close above that this week says, okay, that's pretty cool. Now we can see that price has headed into resistance on a weekly basis that was established by a rogement to indicator top that formed on June the 10th, 2022. That was a bearish shooting star candle. And that's your 105.57 level. Now, the volume on that was 147 million shares. This week so far, Exxon Mobile, we've done 66. So price is moving into that level, but it's doing it with much lighter volume. So it may not take it out. You did close inside that swing point, even albeit on lighter volume as we took a look at it. But is Exxon Mobile gonna take that out? I would say if lights we crude really rally today, the answer would be likely yes. But right now, lights we crude is flat. Straight out at 84.48 as we speak. So yeah, if I take a look at a 30 minute timeframe chart here, the 30 minute timeframe chart for Exxon Mobile shows what? Well, it shows a TD9 count top. Let's expand this out. You got a nice TD9 count top. 103.22 is breakout support. So price is still above that. So Exxon Mobile still looking pretty strong. Watch that 103.22 level price were to move below that. That suggests some further lower price out there. And then you'll be watching that 103.32, which is the top of that daily profile out there. Price gets below that before it gets up to and closes below the top of that daily profile. Then I'd say the answer is no, probably has some more work to the downside, such as getting back to 100.52, maybe 100.08, or even the 96.84 level. But right now as we speak, based upon the pre-market, the way that things closed yesterday, yeah, it looks like price wants to go at least tag that high, that bearish shooting star high. So Alex, thanks so much for taking the time right in. Much appreciate it. I see we've got another question that has popped up. This one coming in from just someone says, look at the TLT. Looks like maybe a Vic out there. So absolutely, we'll put the TLT screens up here. Really what we should probably also do is go take a look at the 30-year treasury. But right now, let me get those TLT charts populated. And what they told us is if you look at the daily timeframe chart, no bottom signal at all. In fact, there was a TD9 count pattern. That got negated right away. Roadsmen to indicator signal pattern. That was negated in one day. Yesterday, that pattern, or not yesterday, but the day before that pattern was negated. This is telling the weekly chart. Looks like it's going to negate its TD9 count, bottom pattern out there. The monthly chart is saying the same thing. The TLT, the message here, Vic, is that this wants to continue to head lower out there. If we take a look at the actual 30-year treasury charts out there, we've got those here to populate. This will take a few moments. This is telling us the same thing. The 30-year treasury we're gonna see right now is trading below $123.30. That's its TD9 count, bottom. We sort of looked at that. So it's that $123.30, and a price closed below that. Not this coming Monday, but the following Monday, the end of the month. That says this thing wants lower price. But the daily timeframe, you'll see that it needs a bullish reversal candle to confirm a bottom. We do have a potential wave number seven, that's letter G, on a weekly timeframe. This is going to generate a TD9 count, bottom on the weekly timeframe. So I think the signal information is slightly different. We're looking at the 30-year treasury than the TLT. I'd be really focused on this, but I'd not seen any kind of bottom insight at all. Even when we take a look at, Vic, our interday time period charts out there. It doesn't matter whether it's a 30 minute, a 60 minute, 120 minute, a four hour, or a five hour chart. There is no bottom signal that CVC's at the moment. That suggests the 30-year treasury is going to continue to move lower out there. So Vic, thanks so much for taking the time to write in. Hope that provides you with the information that you were looking for. And if not, go ahead and write me back. Of course, what we're going to do here is we're going to break in about five seconds, and then we'll come back and I think what we'll do is we'll go back and take a look at those futures charts, the equity futures charts out here, the ES mini. We can see that it's 60 minute timeframe right now. It's going to form bar number nine of a TD9 count. That joins the potential TD9 count bottom on the two hour timeframe chart, but at 10 o'clock if price closes below 3647, no TD9 count bottom on that two hour timeframe chart. We'll be right back. If you want to take advantage of this sector, now is the time to subscribe to my gold report. The gold report is a comprehensive look at the metals sector as well as the markets that move gold, which is the currency and bond markets. New subscribers get a 30 day money back guarantee so you have nothing to lose. Every Monday morning I publish the gold report with coverage of gold, silver, bonds, DXAU, HUI, GDX, as well as more than 30 different mining equities. To see for yourself the types of profitable trades that are recommended within the gold report, sign up now by visiting tfnn.com. Don't miss out on the next great gold trade. Sign up today. 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Are you looking for a way to consistently add winning trades to your portfolio? Tom O'Brien is here to help. Tom O'Brien has been successfully trading markets for over 30 years. A frequent contributor to TD Ameritrade Network and CNBC, Tom O'Brien founded tfnn over 20 years ago to help educate investors just like you. Tom's daily market newsletter, Market Insights, is published every morning when the market's open to give you the competitive informational edge you need to succeed. These newsletters are packed full of Tom's advanced technical analysis and are geared to deliver comprehensive strategies for a successful portfolio. Get Tom O'Brien's newsletter, Market Insights today and try all of our products and newsletters 30 days risk-free with our money back guarantee at tfnn.com, tfnn, educating investors. Don't forget, you can listen to tfnn live on your mobile device 24 hours per day. Go to tfnn.com and hit watch Tiger TV. That's tfnn.com and hit watch Tiger TV. Good back up folks. We got Dow equity futures down 225. It's 8.54 in the morning. NASDAQ's up 142. S&P 31, Russell's down 12. We're looking at the ES mini charts out here. The chart patterns on the ES mini, we covered this earlier, a TD 9 count bottom that's in effect right now on the two hour timeframe chart. As long as price holds, that means closes above 36, 47, that pattern remains in place. You'll see the A to B equals CD. That has at least a formed out here. That needs a bullish reversal candle to confirm. And you can take a look at that either on a 30 minute timeframe, a 60 minute timeframe, another 60 minute, the hourly timeframe chart has a TD 9 count bottom. Well, it will complete that as long as the next six minutes, the ES mini does not rally above 36, 52, and a quarter. And it doesn't look like that's what's gonna happen. So you're gonna also have a TD 9 count bottom on the 60 minute chart. Now that also says that that pattern could complete by 10 o'clock this morning. So that's what I would be watching for those two charts out there, 60 minute and the 120 minute timeframe out there. And again, if we go back and we take a look at, I think I still have this up here, the 120 minute timeframe charts for each of the equity future contracts. Yeah, that's what's gonna pop up here. What you're going to see is you've got the NQ has now formed a TD 9 count bottom as well. This is gonna complete at 10 o'clock this morning. This is the two hour timeframe out here. Bar number nine's already completed. We've gotten the spike below the low of the pediment. Bar number eight actually would have qualified, but we've got a newer low. So whatever the low is between now and 10 a.m. inside the NQ, if price is trading below that at 11 o'clock when this show is normally aired, I don't know what that level will be. That's gonna suggest to move back to the 10, 771 level. The Dow also has a TD 9 count bottom, but that pattern would get negated if at 10 a.m. price closes below 31 77. And again, in the case of the Russell 2000, it doesn't have a bottom pattern, but the price, sometimes it's just simply a bottom by pulling back to support. In this case here, it's next level breakout supported at 1696.80, we're trading at 1697.40. So we've got the potential for some bottom signals here as we come into a half an hour before the market open, but please stay tuned. Tommy O'Brien is up next with the morning market kickoff. I hope I have your body with enough information and some numbers out there to pay attention to through your trading day. Have a fantastic Friday, a fantastic weekend, folks. And I'll see you back here on marvelous magnificent Monday. Take care, be safe out there. 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? Like any endeavor in life, before you decide it's impossible, get some advice from the experts. You might find that it's not so impossible after all for daily market overviews that give you direction on the key indices, selective stocks and commodities. Subscribe to the opening call newsletter at tfnn.com. The opening call newsletter is written by Basil Chapman, creator of the trading methodology known as the Chapman Wave. The Chapman Wave up-down sequence gives you an edge in identifying price turns, finding the peaks and valleys in stock prices.  First-time subscribers also get a 30-day money-back guarantee. If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up. tfnn.com, educating investors.


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I'm not sure specifically what we're buying Or what we're looking to buy currently ledl our cruise on the prospective royalty refractor albert puhls a gold lava Rockies auto young keel fernandez 5675 nice one rockies Young keel fernandez such a nice signature but he signed so small I guess we're gonna have it look nice then big and messy Bruhonda 150 rookie refractor rates blue refractor rookie refractor uh march for the fillies Dude i'm sorry you see that thing was in the front of the shop rookie refractor say s azuki for the cubs Yeah, I saw I was here I saw that Prospective royalty marcella mayer refractor javi bayez I didn't know kenzie was gonna grab the box in the shop because we had someone like the back That's typically where we pull from crazy guardians auto john kenzie noel ufo brady house refractor salvador parez Atomic rookie shane boss for the rays. I don't know how long it'd been up there. Probably been a good a good while Rookie refractor hosay maranda twins Farrell. What's up, man? Oh He scored big time jeter jeter baton. I was a monster Who's sprinkles Who's sprinkles?  I was like is it donny like who's I gotta start calling that Base auto for the orials darrell arnais Green refractor roger carrius yankie 71 of 99 and a rookie refractor of wander franco for the rays What's sam's nickname screech That rois louis earth refractor ricky brine dela cruise marlins What's shawn's nickname Prospective royalty louis and alakunia refractor Refractor auto for the rangers dustin harris The rangers blaze jordan ufo refractor louis robert mini diamonds rangers anthony guttilletes number to 299 and an atomic marcello mire redsox nice atomic The gabriel arias ricky refractor guardians That's right carl louis. Uh, I'm not louis, but um Bonemaster piece is julio rogeri is Mariners perspective royalty colton calzer refractor yoran alvarez Cause a bruins game over yeah, they're getting stomped They're putting in an embarrassing effort.  Oh Minute left me. We'll get another empty netter Refractor christopher caro nationals. I never mind detroits on the power play atomic jackson choreo perspective royalty brewers young refractor josh vayas base auto royals daniel vasquez You have fo bobby with junior refractor elli delacruz Machado global impact refractor kuma rock Hey, man, bruins got to tighten up got to tighten up. Uh, carl. They got tightened up They're playing sloppy bowman masterpiece of seya suzuki cubs perspective royalty malgumri rookie refractor bobby with junior royals base auto dodgers rain duncone Last spot mojo there lava perspective royalty number 250 jackson choreo brewers In refractor pose ramirez Nice choreo insert one of the last team steak and the brewers Many time and rookie guardians gabriel arias number to 2 99 Hunter green refractor rookie redet mers angels atomic global impact anthony rizzo yankees daica Lera rookie refractor brujan for the rays base otter rocky's adel amador first harper ufo rookie refractor oniel cruz Atomic samuel muñoz dodgers Refractor ricardo cabrera All right illegal. What's up, man? Serial puller of choreos. Wow. What a guy refractor jackson choreo brewers and I pulled about a Whole bullsworth blue auto harry ford mariners 14 out of 150 great britain legend harry ford And purple refractor koi sega 250 rangers refractor coleslaw gunnery white socks Refractor aronado usa legends Fractory ally or um, sorry perspective royalty. Elijah green refractor joey vato base auto astros tyler whitaker ufo vocaro refractor j.d martinez Global impact acuña refractor simon one lila keeps hitting big cards. Do you see this though? Yes Leo's getting rich just finding the breaks Donnie's band is what I'm hearing. Yeah We'll see the schedule is gonna get I don't know if we're gonna have a full-time nighttime topic. I might just have like scattered everywhere Dylan two nights donnie two nights like I don't even know maybe kyle here in there. I I don't know A lot to figure out but in a good way.  So yeah, man, you haven't crossed refractor ryan reckley. Yeah, you've been going and going Are you got 10 straight? Yeah Refractor auto guardians done kenzie. No, well Aqua lava yasa mercedes twins to 199 and a refractor is equal tovar Guys ready for a wbc This evening Thomas rodrick arias refractor I'm excited. What's the seven o'clock game? We don't have fs too. So we can't watch right now What's the seven o'clock game? It's like jackson holiday perspective royalty refractor jordan lawlor is a portorico and somebody Jackson holiday base auto orials Yes, yes baltimore martin could be martin. Congrats either way jackson holiday base auto clean auto too No gaps in this one Get that one mag ufo jose ramos refractor rookie mckinsey gordon nationals Limpact henry davis refractor lindore. All right. Let's see. We still have some spots in the next one. I believe Yeah, guys reds and brewers still both on sale john taylie jr I don't even know john. I don't know anything about john taylie jr. That i'm guessing it's john taylie sun rookie refractor brison stop billies That's a crazy question. Why who's I have no idea Base auto jordan lawlor diamondbacks I think jackson holiday beat up green marcello mire to 99 Nice one red socks Refractor mike trout angels lane. Just get a bunch of healthy stuff. I'm sure everybody will appreciate it gluten-free granola and You know some celery sticks refractor rafael devours What do you guys think what should lane pick up for snacks for the shop? To mar johnson perspective royalty refractor miguel cabrere. What do you think shown? A stack of money for me Marcello mire perspective royalty auto red socks There's our guy So not numbered something froze on the front 28 to 250 congrats red socks josh will buy as refractor mookie bets cashews. We're not rich Cashews cost more a pound than gold probably henry davis atomic for the pirates refractor ricky joe ryan twins I'll eat them all lane.  Don't get anything that can expire. You just gotta get shelf stuff Oh, so yeah, slim gyms are always we always get slim gyms. I think so lane's probably already got slim gyms Well, slim gyms if you don't have them Dunkaroos is a good one Chris I don't think rich is gonna be one of why not spend money on tobacco for everybody Let's dip We're not uh Rack of course if you could Um, but I guess the regular, you know granola bars, you know, whatever ricky refractor Julia Rodriguez mariner's probably some Cookies or something like packs of cookies like like the ritz bits and the chips of hoy and all that refractor auto angels denser guzman The angels blue refractor rookie angels read dentures to 150. That's the book end as well 150 150 pita lanza USA legend pita lanza Jackson choreo earth refractor rookie jeremy panya. What else are we missing? Maybe like some some like pringles or whatever Della cruise on the perspective royalty reds rookie refractor jake burger white socks. I don't know man. Just the usual, right?  We got there's a yielding confidant reds base auto You guys hear how I said that you're in confidant.  I get like scared That screams it atomic term are johnson pirates and a refractor and three guttillas He looks anyway doesn't which makes me creep Gushers gummy bears fruit snacks fruit roll-ups One soda bowman masterpieces refractor perspective royalty mayer refractor akunya ryan akunya refractor auto rangers danier cueva A purple refractor yasa mercedes number to 250 twins a lot of yasa mercedes in this refractor many machado Sizzlem pringles i guess those are spicy that sounds that sounds pretty good It does sound good air jordan walker refractor rookie wan yepez Atomic ufo blaze jordan redsox perspective royalty brooksley refractor cori seager Blue refractor brewers auto headbert parez 68 of 150 There was again. There's a ufo behind it of christian randes and our jackson holiday base refractor mini diamond the pita lanza to 299 mets Show you a tiny global impact refractor brooksley. Yeah, I don't even I don't even keep chips and stuff in my house I will say though. I do have some Oreo mint ice cream at home. I got that That's good It's so good Mint has become like mint chocolate is one of my like favorite ice creams I don't love mint chocolate like like thin mints are fine, but like ice cream. Oh my god. That's what I mean It's the best refractor christian pashe Oh, yeah cadbury hags Thank you canada for cadbury hags angels auto adrian placencia Angels will send a box just like that some scuffs up top on this one adrian placencia box and wrapper for you aqua lava mike trout to 199 for the angels refractor rookie jack swinsky pirates top should make a world baseball classic set But I guess that's different licensing because this is a different like organization, maybe Listen, the animal bleed players are playing at l lb's part of it. Yeah I'm sure they put a lot of funding into it. Gold lava pirates rookie. O'Neill cruise. That's really nice 29 of 75 There we go. Plus Reese's eggs are the best. Um Reese's like non traditional shape Cal Raleigh rookie refractor mariners big dumper Cows are james wood refractor Reason that's a good idea. Wahoos. That's a great idea base auto a's jr. Perez ufo jeremy panya astros refractor christian santana That's a notto global impact refractor of laddie Don't worry about box. Uh Oh the angels, I guess you don't have to do one for the angels Elijah green on the perspective royalty refractor rookie steven quanguardians for angels, right joshua To mart johnson bowman masterpieces from pirates space auto brian akunya twins twins have had a really good break There we go and a green refractor erin judge 84 of 99 Yankees and a rookie refractor niclidolo. I could probably go in uh Costco or sam's cover some get like a pallet of cadbury eggs for like About 200 bucks bobby with jr earth rookie refractor alex thomas d backs Jackson choreo perspective royalty refractor wilson contraris You guys think dominicans republic are in trouble in the world baseball classic Atomic auto denser guzman 18 of 25 Angels with a nice break now too It's their guzman 18 of 25 Jordan lala ufo rookie refractor montero for the rockies Atomic tautis padres and a refractor christian yellich last one everybody A lot of orders coming in that's good See what they've been for We're all down to one team on the next one Down to just the brewers left everybody And they're all on sale bubblegum cigarettes from the ice cream man.  I like chip witches chip witches are good. It depends what they have right? But yeah, chip witches gotta be the nestly one gavin cross The big chipper from mayfield is pretty good too gold lava rookie auto Guardian steven qualan 44 of 75. We hit the qualan Hit the qualan grads cleveland Hit the qualan purple bobeshet blue jays the 250 george valera choco talk was a great choice too george valera didn't they discontinue those though Torkelson air refractor soto Sean already hit the qualan you just guys couldn't see it. Oh, yeah. Yeah, I do trust me atomic water abrams nationals kumar rocker rookie refractor elie ramos giants Oh, yeah, george. I'm I mean like package stuff based on a brewer's eric brown jr The brewer's hit ufo del accrues refractor erin judge what's up It's it's I don't know what it says But yeah, actually making your own ice cream sandwich is pretty awesome refractor jazz chism There's places you can go there's certain ice cream places that do like Your shops that'll make stuff like that. Those are just insane You ever seen quicksand james jackson holiday perspective royalty brew our nation orials review refractor gaven sheets white socks Dodgers auto jose ramos base auto there red lava henry davis four of five pirates crushed it big-time henry davises and that gold lava of oniel cruz as well That's going in a mag refractor rookie hunter green reds I'm like ice cream sandwich guy though the tillamook has some pretty good ones They have like a waffle ice cream sandwiches refractor freddy freeman come down with ice cream Just cuz cookies are so good, man. Mm-hmm atomic global impact marcello. Maya red socks We'll take any time coleslaw montgomery refractor brace harper Wahoo is you to say that because there's the the lamp is here He's naming things in the room saying you love them james wood base autopodries coleslaw montgomery refractor cabrayan haze Diamond or mini diamond christian santana to 299 for the tigers and atomic anthony rizzo yankees refractor dustin hares Do you really love the lamp wahoo's? Who does number two work for I don't know it's a good reference though Great great great film our autos here of james wood hosier ramos wood is a padre still it's on card eric brown jr. Hedbert parez Felix valerio william burgoya gabriel arias allen serda john kenzie noelle daryl hernaise Dustin harris yosuar garcia daniel vasquez rain don cone a dale amador taylor wittaker john kenzie noelle jordan lullar denser guzman you have been confidant dania cueva bryan akunia junior parez adrian placencia blue refractors of harry ford headbert parez atomic denser guzman gold lava steven kwan and yankeel fernandez Nice numbered parallels on those autos. We had a red lava. Henry davis the five Or the pirates marcella meyer prospective royalty auto to 250 red socks base auto jackson holiday for the for the The orioles there gold. Henry davis auto the 50 pirates also And a red yasemars 80s twins number to 10 That'll do it. Thanks again everybody other bowman's best up next