The following is a presentation of TFNN. The TFNN Bull Bear Trading Hour. Every trading day, live at 10 a.m. Eastern. Call now, toll free at<PHONE_NUMBER> or internationally at<PHONE_NUMBER>. The TFNN Bull Bear Trading Hour. Now, Tommy and Tommy O'Brien. Welcome folks, appreciate you're growlin' and prowlin' with us out here. We have the Dow Industries down in Florida.  We have the Gold Contract taking up a buck 10 at $12.74 an ounce. Silver, $14.83. Light Sweet Crewed, $66.36. We've had quite a run on Light Sweet Crewed. You missed some action, baby, you're back. I'm back, man. Higher oil prices, higher gas prices, for sure. No doubt. Notes and bonds. You got the 10-year note up $13.6, $123.17, 30-year up $24 at $147.08. And King Dollar, $King Dollar, $150 up, $97.470. The euros at $111 to $1 U.S. Dollar. The yen is out there trading at $111.5. And we get the pound at $129 to $1 U.S. Dollar. Let's go over to our man, Mr. Kevin Hicks, a TG Ameritrade, thinkorswim. And don't forget folks, every trading day right here, you want to understand option, option strategies, futures, great program, 11 to 12, Eastern Standard Time. Kevin Hicks, what's going on? Good morning, Tom. Good morning, Tommy. Welcome back, Tom. How's everything? Everything is great. And great to be back, folks. I was at the Canton Fair over in China. China? I can tell you. We'll tell you stories about it. You know why I'm telling you why. Everything's made in China, man. I saw things that you're just so cool. That's what we hear, right? And so I heard you've been taking care of the market too, Kevin. You get the dollar at a high. You get the market at highs. What are we doing here? I think we have just a market that is, remember, going into this earnings season, the bar on the downside that, you know, not gained by expected in stocks are showing that, right? Look at perfect case in point. Look at Boeing. The debt they're taking, the stock is off. Yeah. Based on that. I think you're showing a very resilient market here that, like I said, making earth stations across the board. Yeah. I mean, it's pretty remarkable in that Boeing. They basically came out and said, listen, things are so crazy. We're not going to give you any guidance for this year. We don't know what's going on. Right. The market's like, we like that. We're trading higher. Right. Yeah. So it shows you what people think a company that is.  What traders want, give me a number and give me a date in Boeing. When they think they have a handle on this, or the fact that they do it all, stock investors will like that. Yeah. No, I can see that for sure.  You know, if I learned anything, you know, we know that everyone's on their phones. But I'll tell you, when you see a billion people on their phones, it's like, wow.  I don't know if you saw that, but it seems like it was put together by small children in China, not to joke, but I mean, quite a fiasco, man. The foldable deal. Yes. It's amazing, Tommy, that they didn't have the quality of that phone more real than before they put it out there to the general public to look and inspect. I mean, there were analysts. They grabbed it. Yeah. And it's not like, oh, we didn't test it out for 10,000 folds. You know, it's like Analysts got it and broke instantly. Wow. Right. To many of them. Right. So that really... That is a PR nightmare. Yeah. Yeah. And they're still dealing with it. I saw articles coming out today. You know, it's just not going to stop. So, hey, Apple, man, I'm an Apple fan. We'll see. I, you know, and just watching the stores over there, what happens is that even I was in the middle of just industrial China in a huge way, right? So it wasn't the tourist place at all. But city after city after city still had Apple stores, Apple stores, Apple stores. You'd see factories and Apple stores. They're quite a brand. I mean, so... Oh, big time. Yeah. And then the Hawar is there and huge there. Yeah. Huawei, yeah. And Samsung is there. They're all there. Yeah. But I'll tell you, the world is the same. Yes. And remember, the way all your viewers and all the TD Ameritrade clients, the way they should think of China, China supplies the demand for the world. The single market, the very affirming of their cash rate coming out of their consumer is good fortune. Yeah. Oh, there's no doubt. And you can see it. I mean, it doesn't. You can just... You see, like, from the beginning of when something is there, meaning steel's coming in, INO is coming in, turning it to steel, turning it to things. I bet. And it's just a turn, 24 hours a day. Yeah. 24 hours a day. Pretty amazing. And, you know...  And the reason why the United States has to be so diligent, to mess up something with trade with China, it's a big number. Oh, it is. Things can get away from you quickly there. And, picture, where I was... So I was at the Canton Fair. So the Canton Fair is the largest fair in the world. It's been on 125 times, not years, in 1957. But everything and anything... There's 200,000 people there from all over the world. And I'm talking about every continent. I bet. Every buyer, for every Home Depot, for every Lowe's, for anything and everything. But what you actually see, which is amazing, is that that's for the world, too, not just the United States.  There's associations that go together, so when they go to these factory cities, because that's where we were, that they can also bring down the price. And this deflation thing, Kevin, is not going to go away. This is what... If I learn to do anything over there, everything is going to keep getting made smarter and smaller. The only thing that is going to keep going up, I think, is hard assets. Because the affordability, they can keep squeezing and squeezing and squeezing, and that's what the Walmots are about, and that's what everything else is about. And think about it, guys. The most simple example that you can make about that is the television that you watch every night. And look at how much you used to spend for a projection TV, not even a tube, back in the 80s and 90s, and look what you're spending today. I mean, that is the perfect definition for the consumers of, as technology gets better, things don't get more expensive, they get cheaper. Because the technology and everything catches up, and it just becomes more efficient, not less. Yeah, there's no doubt, man. No doubt. And so we got Tesla earnings today. Oh, maybe. What are we talking about, Kevin? Tesla, Facebook. Here's what we're covering today. Obviously, we're going to talk about Crudewell because it's Wednesday in its inventory. We're going to talk about both. We're going to talk about Facebook. We're going to talk about Tesla. I mean, really, we can go further. We can go Visa. I mean, we're going to talk until the bell rings on our show. We're going to keep cracking out names. As many ministers they give up to work on it. You've got to love it. Well, listen, man, we look forward to the show. 45 minutes. Great to be back with you, Kevin. Great talking to you guys. Thanks for having me on. Thanks, Kevin. Absolutely. Stay right there, folks. Tommy and I are coming right back. We have it out on 26. You get the NASDAQ off 1. S&P's are off 3. Come right back. The Taz Profile Scanner is the most revolutionary piece of trading software that you will ever try. Wouldn't you like to approach the markets with confidence? As you begin your trading day, it's likely that you'll be faced with lots of decisions. In order to make the best decision, the first thing you'll need is a strategy that will help you minimize your risks. Whether we're in a bull or bear market, a good strategy is to have the tools needed to help you scan and analyze the markets before you trade. 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TFNN has launched our brand-new website. You can still visit us at the same TFNN.com URL, but when you do, you'll see a new and improved homepage with a much simpler navigation, whether you're watching Tiger TV live in high definition or just accessing your newsletter subscriptions. We even have new pricing in six months and yearly options. Check out the new TFNN.com now and experience all the upgrades. TFNN.com, educating investors. Call now. Toll free at 1-877-927-6648. Internationally at<PHONE_NUMBER>. Folks, Dow Industries right now are down 14. We get the NASDAQ up one. S&Ps are down one and a half. And so we're right in the middle of earnings, aren't we? Oh, man, it's rocking and rolling. It's been a big... So this week, 140, I believe, S&P stocks out of 500. So one of the biggest weeks, if not the biggest. We almost got one out of three stocks coming this week. And like everyone's saying, man, we got some big ones today alone. So oil, right? Jumping over. Let's see where we are. So I was looking for... I was trying to look for the median analyst estimate, what we're looking for. This will pop up. Let's see if the top live is up. It starts 10 minutes ahead of time. Yeah, so it's going to pop up there at 10.20. And then we get Occidental, getting in the middle of Chevron and Anadarko, huh? Yeah. So you had... Chevron, I believe it was $33 billion. That's just going off memory. But I believe it was $33 billion. And you have a $38 billion counter-offer for Anadarko to disrupt the agreed Chevron deal. Now I believe this was like 75% stock, 25% cash. And I remember when you reported that before, because there's a huge break-up fee of the first one. Okay, okay. You know, if there's a break-up fee on this, I forget what the number was. It was a big number, man. Okay. And yeah, so this is... So there was, and I'm not sure... So Hullab, who is Hullab here? Let's see, CFO maybe in one of those. They pushed the offer from 25% cash. We'll dig into this, like this might not be the end of that story as in. I imagine that Chevron is going to have a response. We'll see what it is. Let's see. So a reminder that a bid valued at $76 a share would exceed Anadarko's 52-week high of $70. But the company was trading above $110 in 2014. But man, 2014, yeah. That's when oil prices were through the moon. Yeah, 2014's a long way from where we're bought. We're almost at $67 oil, which is pretty remarkable. Okay, so let's jump over. Let's take a look. All right, so crude oil. There we are this morning. We're looking at the June contract trading at $66.19. So man, quite a day yesterday too. I mean, I think we had oil at six-month highs. S&P record close. I believe Nasdaq record close as well. And the X100. Big time. Oh, for sure. Russell, I don't know if you saw yesterday. I did. I mean, quite a rocket ship that Russell. I mean, check out that run yesterday. The Russell, you go from $15.62 up to $15.90. Yeah, it was almost 2%. It was like 1.7% on the day. Pretty remarkable, but jumping back. So here's oil, $66.16. Let's see what we've got going on in here. You know what's going to happen? I had this up early. Yeah, so I'm going to have to refresh this real quick to get. So I had this up early. It doesn't have the noon. Thank you. Yeah, we got... Thank you. This is just, we reformatted the whole hard drive. So we got some monitors in here. We're on Windows 10 rocking and rolling now. You come back. Everything's new, man. Yeah, right? Good job. Yeah. New computer firing on all cylinders, man. Okay, close that bad boy. Pull up here. Okay, we're back. Commodities call spreads. We're in crude oil. So let's start off with the 11A. We're looking at the June contract. We're trading at $66.17. We have the opportunity for exposure from $66.25. Pretty close, right? That's not bad. Only talking about eight pennies. This would be your bullish spread here. So right now you're out of the money on this one, right? Because the bullish spread starts to gain value at $66.25. You're trading at $66.17. You're going to be paying just premium. So you're paying about $12 to the 11AM. And getting $66 on your bearish side. $66. Now, this one is going to have about eight pennies of intrinsic value. And there's your difference by eight pennies. $66.32. Not bad. Not bad at all for the 11AMs. Yeah. Now jump into the noons. We're going to have the identical prices. So that's always nice that you get to just basically figure out how much they're charging you for that extra hour, right? So here's our bullish spread. The 11AM is taking $66.32 by $66.35. And look how close it is, man. They're only charging you basically two pennies. Now, it almost seems like I want to make sure the EIA is coming out. These seem very cheap, man. They really do. And this is where you want to get used to what you're doing. We had the Easter holiday. I don't think that plays into Monday. I just want to be sure because this seems very affordable for the numbers coming down. But we know that we just put in that estimate so we know it's coming out. You're right. Exactly. There we go. Perfect. So we're getting the numbers at $10.30. $66.25. We're about $11 out of the money. I mean, look at this. Even if you're just looking for a directional trade, right? So the market's saying that the move was done over the weekend when they put the, you know, sanctions on what May 5th. Yeah, they're just pricing very little volatility premium into this market. There's your noon on the bearish side. And so you're looking at $30. Yeah, $34. I mean, that's only 34 pennies. Right. And let's just see where the dailies line up. We're looking at trade if you're looking for some movement. So the dailies, $66. Let's see if these jump into. So $66 you can gain exposure. So the 11s and the noons, we were going to have a little bit of intrinsic value to the bearish side, right? Because we started at $66.25. The contract's only 10 pennies away. Well, guess what? If you want some bullish, well, here's your opportunity. And then now you have the 66. So you got about $33. So you're looking at $45. Yeah, $45. $0.47 from up until $2.30 and you'd have five bucks of exposure. And just let's see if this top live is, I think it is. Usually they give it to us about 10 minutes ahead of time. There it is. Let's see if they're saying what we're looking for. So what to watch for it? Let's back it up because they have three dollars of exposure. So what we're looking for is a high-end, high-end, high-end season. That's been a current theme, man. Holding that up, that maintenance deal. Two weeks ago, crude oil intake ran at the lowest level since 2015, with just 16 million barrels a day refined compared to nearly 17 million barrels a day at the same time in the previous two years. It's nonetheless a question of when rather than if. So they'll get that high-end, high-end, high-end season with demand relatively healthy. Refinery is taking longer than normal to return to their winter maintenance, excuse me, to return from their winter maintenance. Traders are starting to worry that the U.S. may enter a high-demand driving season with low gas inventories. So they can't turn the oil into gas, right? So you've got low gas inventories, refineries aren't keeping up with the amount of gas they need refined, and as a result, they're going to have to return to their winter maintenance. So that's May 24th, we'll probably be that right. With domestic oil production surging, crude oil gross imports have fallen in 2019 to unusually low levels. In February they dropped to 5.9 million barrels a day, lowest level since 1996. Domestic oil production. Okay. Yeah. So, excuse me, domestic oil imports. Yeah. So we're making so much oil, we're not importing it, right? Exactly, right. Two weeks ago, they also floated, yeah. Let's see if they got what that expectation number was going to be. All right. Yeah. I'm not sure. Do they have it down there? Yeah. 6.8 a rise. Okay. Yeah. I think they're looking at an increase of about a million barrels we saw at the top, I believe, there. But nonetheless, we'll find out three minutes. Stay right there folks. Tom and I are going to be coming right back. We have the Dow Industries right now trading. Oh, we're paused. 9, and that is except one piece of flat. Come right back. Hi folks, Tom O'Brien here. If you'd like to get my daily newslet of Market Insights, then now is a great time to sign up for a 30-day free trial. Every morning by 9.30, I send out my subscribers with market commentary on a variety of markets, currencies, and commodities to keep investors up to date on the day's trading action. 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We are so confident that you're going to love this new charting software that will even give you a 30-day unconditional money-back guarantee. Don't miss out on this incredible new piece of software. Get your copy of the Art of Timing the Trade Charts at www.thinkorswim.com. This segment is brought to you by Thinkorswim. For more information, just click the Thinkorswim banner on the front page of TFNN.com. Folks, Dow's up 14, Dow's flat, S&P's down one, and we got oil numbers out here. Seems like when we put in that whisperer number, man, we should always go high as in surpluses, but guess what, man? That doesn't mean that the prices are going to drop, but we've had gas. Gas inventories fell. Yeah, so crude oil inventories, headline number rising 5.48 million barrels. The estimate was about an increase of a million barrels. Gas inventories falling 2.13 million barrels, jumping back to the charts. We'll close these bad boys down all our order screens where we trading at. We're down a bit, which is what you'd expect, but we have more supply. People are going to pay cheaper amounts because there's more supply in the market. You should get lower prices on a surprise like that, as we've seen consistently though. No heavy reaction on the get-go, and we've seen misses, it seems like, many times that they're to the upside and still we're dealing with six-month highs in oil. So just be aware. I think I was doing the program with Basil last week on Wednesday, when we were talking about oil, and we had said the same exact thing, and I said, I would be very cautious to be bearish because when you're playing the volatility number, if you're bearish, you're looking for this type of a reaction, a big miss, and you don't get the move. So what are you really trading for if you're bearish on volatility if you get a surprise build and the market doesn't go down? And so far it's been the same exact thing right now. We're five pennies below and we're trading that. And we have plenty of oil. Yeah, right, and let's just jump back and see what else we're saying. That's not it. This is going to be it. So still no increase in gasoline stockpiles, nationwide inventories as we just mentioned. Now this makes 10 straight weeks of declines, and I'm going to guess that we'll see something about the refineries in here as well. So bigger than expected build, 5.48 million barrels, pretty muted response so far, and as we always say, takes a little time, right? Takes a little time, but pretty muted response for sure. Yeah, so the the still, not the stillries, the refineries. The refineries are going to have plenty of oil. They just, it's still the change of a problem. They just can't do it. Yeah, they just can't keep up basically with the amount of gas. So there's the headline number. Crude rising about 5.5 million barrels. Median estimate was an increase about one. It's just that they knew it was going to happen pretty much that they're, you know, declining as they can't keep up and refine gasoline, refine crude into gasoline. Distillates, a decline of 660. Estimate was declined to 900, pretty close. Cushing crude up 460,000 barrels. Pad 3 crude up 1.7 million barrels. Refinery utilization plus 2.4 estimate was plus 0.8, so maybe maybe they're utilizing what they have there a little bit more than they were expecting. Refinery crude import inputs up 505,000 barrels per day. Crude imports up 1.1 million. I wonder how that plays into what we're just talking about, right? With that crude that we're importing very small amounts. So as you as you'd expect, gas futures liking that draw pairing some of the days early washes and so they're getting a bit of a spike looks like 210 to 2, 11 and a half I guess, right? Yeah, I guess. What time are they looking at? It says April 24th and we're seeing like a 3pm time slot on this I don't know who's posting this chart and what time zone they're in but they're not in eastern time zone but nonetheless pretty interesting we'll check back one time sitting right there man that's got to be so frustrating if you were just trading this every week man you're saying I don't know this is going to be the week there's going to be a big build and oil is going to pull back and you get a big build and you pull up the chart and it goes up and it goes up and it goes up, it goes up exactly wow, let's go take a look at the GDX for some Tigers and Tigers is out here so the GDX bottom line last couple weeks we just went down from 2293 you're 287, now what you're doing here and you're doing with dramatically lighter volume you're going into the breakout area, the GDX wanted to fill this gap, the gap was 2059, we've hit 2067 and we've rejected lower price out here today so we'll see whether it can get going but that's on the daily as well as the weekly so if you're in that market it hasn't done anything yet to destroy the texture of the consolidation that's in because that's on a weekly was that 270 million, it came down last week with 161 minus a day but that's still 90 million you don't do 90 million on a day so you get a close 21 I think one more, sorry which one are you let's see, this is different this way this is a weekly, I just zoomed it in can we go back to the daily because that's what I think it was January, no, daily you're still 6 months should do it because it was January 24th that's 59 that's the break January 24th again let's put this on a weekly now but I don't want to lose that shot that's February yeah it would help to zoom it in that's the bar we're looking at there it is, same thing so the top of that bar is 2123 what would you like this week? 2117, you'd like to be inside before the close of this week and what I'm doing there folks is that we started higher the week of the 24th and then we really broke top side the week of the February 1st so you want to close inside of that level you get a close inside of that level this week that would be a rejection of lower price at the breakout area with tremendously lighter volume baby shakes out it's pretty amazing this dollar since I left just hasn't stopped I mean and that has correlated remember I said many times to the gold gold's pulled back pretty hard the whole time too so there wasn't quite the same relationship but over the last 10 days dollars have been higher, gold's been lower pretty much consistently and oil's been higher too there you go we just went from 15 almost to what 13 what's that high 13, 14 right? and you got a rejection there yesterday too so and you got some decent volume out here today so it's going to be what's unusual about the dollars that it was last Thursday I was watching this even when I was in China as the dollar broke top side folks that was a spike higher and when you get a spike higher and don't get big follow through you know that's a big heads up because it only stayed up there in the open you know when we come back after the break there was a split I mean there's a spike higher couldn't handle it came low yesterday you get over it with tremendously lighter volume so just putting some of the analysis points they have out there so gross oil imports rose massively last week with 7.1 million barrels so I think they said 5.9 was the number so they're up to 7.1 huge increase in shipments from Saudi Arabia, Iraq, Venezuela so I guess I'm not too familiar but that is a huge jump when you go from 5.9 to 7.1 on a weekly basis right in terms of inputs that's a huge jump percentage wise so nationwide crude stocks I think this means stock piles are now at the highest since October 17 taking a closer look at the massive build today most of it was driven by East Coast and Gulf Coast that's surprising as the refinery utilization that we went over that one right where the refinery utilization right there was up but they're still got stock piles so they were finding it and they can't refine it quick enough and check it back in we're just right where we were 66-20 stay right there folks Tommy and I count right back if you're in the CD market and looking for a secure investment the Tiger First mortgage program may work for you the security for these first mortgages the tax act of 2018 set up tax-free zones across the country where you can build and hold for 10 years and pay no tax on the profits which makes these lots valuable the investment is anywhere from 30,000 to 75,000 the interest paid is 7% yearly paid on a monthly basis according to bankrate.com the best rate for a 4-year CD in the country as of February 20th is 3.1% a $50,000 investment at a normal 4-year CD rate of 3.1% would give you income of 1550 per year or $6,200 over the 4-year period that same $50,000 investment in the Tiger First mortgage program would give you $3,500 per year or $14,000 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Well, it's actually the index spiked higher on the open and then couldn't hold price.  You know, I guess in the longer context, it seems, Teddy, that we're trying to break out, right? And it hasn't actually broken out yet. You know, meaning if I bring this back, you're going to see this consolidation. This has been a long consolidation, folks. But what you're going to see here is we're still, look at this. So continue this contract, 97.705. I mean, still laying up there. Yeah, that's the end of last year, right? I think I can maybe give you a little explanation why it's really hanging and not really accelerating the move. If you really look at the currencies that are moving, like, I don't know, if you knew anybody that's short, the US dollar candidate today, I feel bad for them. You know, they're getting really crushed. I mean, anyone that's trading the Aussie dollar, the Canada, they're going to just smash today by the dollar. Look at that. But the pound is actually slightly higher. And the Swiss, which has been getting crushed against the dollar, they're actually stronger against the dollar today. And the Euro, that's the one that's definitely pushing its lows. But it's not like a really big break for the dollar beyond its highs. So what's happening right now is all the lesser majors and even all the lesser more, what would you say, lower tier currencies, they're the ones that are getting just really shellacked by the dollar right now, which isn't that positive for us, because we're coming into earnings season. And if this continues for the next couple months, you're probably going to see second quarter earnings explode for companies. OK, yeah. So that would be because you think they can buy their goods cheaper? Well, yeah, well, take for instance, Starbucks. My theory right now is you have coffee prices that globally have come back, which is that's a good thing right now. Now, I don't drink coffee. And I don't really go to Starbucks very often unless I meet somebody. I know it's pretty expensive. I don't know that they have ever cut their prices for the cups of coffee. But because of the currency, because of the strength of the dollar in the countries that they import coffee from, the cost of doing business for Starbucks is completely dropping and has several quarters. So now that's going to definitely impact earnings. So I would say that I don't know when Starbucks is coming out with their earnings for first quarter, but I would assume that just by that factor alone, even if sales were flat to only slightly higher, there's going to have a good uptick in earnings. And I think that will also continue into the next quarter as well. And that would mean also for other countries too, whether it's a food producer or a manufacturer, things like that, their margins will actually be, if the economy doesn't grow and just stays at an even level, the profits should be going, should still accelerate over the next quarter or two because of that. Yeah, I know you can see that. And folks, as Teddy was just talking to me, we brought up, so Starbucks, Teddy comes out tomorrow. Tomorrow after the bell, after the close. And yeah, you can see, if we bring- Is there a trend on that chart? I can't see.  You're just talking and that just six months ago, coffee was a buck 31 a pound, folks, you had 93 cents, exactly. And you're right, there's no way that they've talked about reducing their prices. I go to Starbucks sometimes. I didn't see those prices dropping. That's because they ain't dropping, man. Yeah, right. And then the currency is also stronger. So between those two pricing, their margins have to be exploding to the positive side. Right, right. And I guess in Canada, you know, that's quite a move. I mean, $134 to $1 US dollar. You know? Yeah, almost $135 right now. Yeah. But they blasted through those highs right now. Yeah. That's a explosive move. So you have Canada, like, I mean, I know we import things from Canada. It's obviously a positive for us, you know, Australia, they're getting hammered. And remember, we were talking about the New Zealand dollar a few weeks ago. How was trending lower? We kind of had a sell-ish, you know, mode. It's just getting shellacked, too, you know. And I mean, these are, their major currency still, they're the lesser batch of them. But for them to be hitting these extremes like this is a major, that's a big deal. This is not like they're heading into a bounce point. It looks like there is a trend that they're pushing to maybe hit some extremes that we haven't seen in quite a while. It might be an interesting trend we'll be talking about in three, four months from now. I like it. They're just hitting extremes. Oh, right? Yeah, it is. Yeah, no doubt. Huge moves, yeah. Listen, folks, every trading day, you can go over to our man, Teddy Cakes, that at forex-trading-unlock.com. Well, listen, man, you have a great day, have a good afternoon. Oh, hit him, what? Hey, what do we got? Tiger Woods winning the Masters. I know, you've been away a while, man. You missed a lot. That was so cool. I watched him. Nice, yeah. I watched him. Pretty crazy, man. One thing, I woke up in the middle of the night. I texted you. Watched it. Watched him on the 18th hole, and then fell asleep again. Because you're in China at 12 hours forward. So it finished at like 2 or 3 in the afternoon. So that's good. You woke up at 2 in the morning, caught the final putt, celebrated in your mind, then went to sleep. And the day I got there, I think, yeah. That was quite, that was pretty cool, wasn't it, Teddy? Yeah. Quite a trip, huh? Always great. So hit him like Tiger today, Teddy. Yeah. OK, man, listen, you have a great one to save on. OK, take care, guys. Thanks, Teddy. Yeah, that was amazing. Yeah, remarkable. That was so cool.  It's pretty cool to see the resilience. Yeah, I mean, you know. And to put things in context, man, that's spinal surgery. So he had fusion surgery. You take two vertebrae, fuse them together. That obviously decreases your torque on your body. No other professional golfer had ever, I believe, won a tournament after having that surgery. Never mind just walking around feeling good. You just want to feel good. Like, that's what Tiger said, you know, it's about life. This isn't about playing sports. I just want to feel good because you're in so much pain.  And Nike, Nike shares higher on that day, of course. Who are they? Oh, he was wearing his swoosh, man. On the red shirt. And he was, Nike's one of the few that stuck with him throughout that 11, 12, 13 years. But it is remarkable when you think about it. He hadn't won a major, I think, in 11 years. And a lot has changed as the entire, Nike doesn't even sell golf drivers, right? They don't sell products. They had to get out of that entire business because of it. But they stuck with them, apparel, and so forth. And hey, we'll see, man, he's going to come back. He looked in top shape. Oh, it was great. Yeah. It's great for the game, too. And for life, as you said, I think it was just great. Yeah, no, it's for everything he's dealt with, man. I had 11 years to come back. What is interesting, though, when you think about it, is that 11 years later, he's still almost the whole sport. Like, what's going on with golf? And there's like amazing other golfers. There is. We're in back of the world. You know, like, all these guys, but they're not Tiger, man. Tiger came in. He won that first master's, 97, when he won it by, he was 21 years old, won it by 12 strokes. That's, he's in a different world, so yeah. Stay right there, folks. Tell me that, come right back. I'm certain you are, or strive to be, one of the best of the best at everything you do in life. It's the most common trait that we Tigers and Tigers' share. If you're looking to become the best of the best when it comes to managing your money, let me teach you to do what most wealth managers tell you can't be done, which is how to time the markets. I'm Steve Rhodes, author of Mastering Probability, and for the last 12 months, Timer Digest has been tracking my newsletter signals, which have earned me the ranking as their number one market timer in the nation for the S&P 500 for the last 12, six, and three months. Timer Digest also ranks me as the number one market timer for gold as well. The fact is, markets can be timed, and I'll teach you the exact set of tools that I use that has transformed me into one of the best at what I do. Sign up for Mastering Probability today by clicking on the newsletter tab on the homepage of tfn.com and get immediate access to workshops where I take you step by step how to use an extraordinary set of tools as well as provide great market calls too. Sign up today. It's amazing to think that Tom O'Brien started his weekly gold report 17 years ago with the first issue published April 7th, 2002, when gold was trading at under $300 per ounce. Gold peaked at more than $1,900 in 2011, and after spending many years consolidating at lower prices, gold may be poised for its next big run. Tom O'Brien publishes his weekly gold report every Monday morning for subscribers consisting of coverage of the XAU, HUI, GDX, the dollar, bonds, South African Rand, as well as 25 different mining equities with specific buy-sell recommendations. 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Using the Chapman Wave methodology along with other indicators, Basil Chapman advises his subscribers of his expert market opinion each market day with his opening call newsletter. Right now, you can get a two-week free trial to the opening call, Basil's daily trading newsletter by visiting the front page of tfn.com. Cancel at any time during that trial and pay absolutely nothing. Get your two-week free trial and Basil's newsletter the opening call today by visiting tfn.com. This segment is brought to you by Think or Swim. For more information, just click the Think or Swim banner on the front page of tfn.com. ["Think or Swim Banner"] Welcome back, folks. So let's go look at those oil numbers again.  The first move is not always the move. And guess what, man? If you were bearish today, you're getting paid. So we were trading at 66.15, 66.10. We did get the surprise build. You should see lower prices. And it took a few minutes, so the slide begins at 10.35. Maybe five minutes it took. We were up at 66.38, and we're now with solid 50 cents below that level, right? No, 60 cents below that level. Trading at 66.76, excuse, 65.76. So prices dropping a bit. We're at 66.40. We're approaching almost 70 cents from that level. Yeah, so we'll see. But a little bit of negative action, as you should expect, on that type of move. And we're going to take a look at the market itself. So CL, let's go look at this CLM we're on. But one more. Thank you. Nope, yeah, CL, yeah. OK, so this is going to be a little bit delayed, right? So we're at 65.92, where the contract's about 20 to 30 cents below where it's priced here. Yeah, it's still over these highs. That was the day that, I guess, May 5th, the sanctions go on, I believe, on May 1st. Oh, OK, OK, OK, May 2nd, I believe. May 2nd, right, right, so. For the waivers, that's just what you're talking about? Yeah, yeah. But that was the big reaction when the news came out, which I believe was Monday this week, just two days ago, yeah, yeah. And market-wise, bottom line is that you get the Nasdaq at high, it's no doubt, you know, so. Hey, S&P's pretty close as well, man. Yeah, big time. The market. Stay right there, folks. We get TD Ameritrade, Finkus Swim coming up next. I'm Matt Basil Chapman, Steve Rhodes, Dave White. Be back this afternoon. Thanks, pal. Thanks, man. Good to be back. Great to have you back. Thanks to the great job, too. Hey, definitely, you got it, man. Yeah, we'll get them, folks.


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So good morning, good afternoon, everyone. I'll go ahead and kick it off. I'm Commander Matt Myers. I'm the Foreign Area Officer Community Manager. Thank you, Ms. Caballero, for your help in getting this set up. And thanks everybody for your time today joining us for this lecture of opportunity. Really wish I could be there in person. I was, I did have the opportunity to stop by and about a year and a half ago during the Naval Strategy Forum right before they canceled it about halfway through the event, but I was still there on the ground. So I'm looking forward to them resuming that activity. All right, so we're here to talk about the Navy Fail Community and what that is and what we do to contribute to our, to our naval objectives and how we fit in with the rest of the fleet. And so, but before I get into that, I'll just give you a little bit of introduction of myself. So I am a Foreign Area Officer myself and like all of us, we come from somewhere else. We all lateral transfer into the Fail Community from another community. So I started out as an aviator. I went to college at Oregon State University, did ROTC there, and then I selected for aviation. So I went into the helicopter pipeline there, did my fleet, my JO tour out at HC-8, transitioned to HSC-28, transitioning from Frog to at 60 Sierras. And then for my short tour, I did the Olnstead Scholar Program. Not related to the Fail Community, you're probably familiar to it. Typically URLs will do that, but it did result in getting me the training that set me up for success as a Fail. So I got Korean language training at the DLI in Monterey and then over to Seoul where I attended Yonsei University, got my master's degree in international relations there. Then back to the fleet and my Dissociated Sea Tour on the USS George HW Bush as an Air Ops guy. And then selected for Operational Department Head, went out to HSC-12 in Japan. Then my Department Head Tour out there, part of CAG-5, that was great. So it was kind of at the end of my Department Head Tour there where I was finally ready to take the step into the Fail Community. I had considered it at several points along the way, but I wasn't quite ready to give up flying and operational being a pilot and being an aviator just wasn't quite ready to say goodbye to that. But finally upon completion of the Department Head Tour I said, okay, it's time lateral transfer to Fail. So pretty late career transition, very few people will change designators. That late in their career, I was a very senior Lieutenant Commander, but I did it, it was accepted. It kind of worked for me because I had done Olstead and had all the training stuff that I think if I hadn't had that under my belt already it would have been pretty tough to make that successful of a career transition but everybody that passed a little bit different. So since I joined the Fail Community, I went back to Korea, attended the Korean War College. They are kind of equivalent to what you all are doing at they're in Newport. And then over to Seventh Fleet Staff where I did my Fail Milestone Tour in the N5 as the Deputy Director there. So that's Seventh Fleet Staff it's a great place to be a Fail because it's very in touch with what we're doing operationally and but also still able to inform what we're doing out there and ensure that's tied to our strategy objective. So that's me now I'm here in Millington as the Officer Community Manager very much eager and looking forward to getting back overseas which is where Fail really belongs. So before we go into the rest of it we'll turn it over to my co-presenter Lieutenant Commander Lindsey Fatt. Hi, good morning, good afternoon everybody. So I came to Fail a little bit differently. I was an Intelligence Officer before I was a Foreign Area Officer. I commissioned via Officer Candidate School and then did Intel School at Damdack for six months before going out to Whidbey Island where I was stationed with VQ-1 for a couple of years and did a few debts around the world with them and then went to the Naval Postgraduate School to get my degree, my master's degree in Middle East Regional Security Studies as an Intelligence Officer. From there I went to the Joint Intel Operations Center in Hawaii for four years focusing on South Asia. Spent a lot of time both studying and traveling in South Asia and had the opportunity to do a debt with SOC-PAC in Kathmandu and the embassy there worked with the Nepal Army on disaster risk reduction for seven months. And so got just a lot of experience working with a partner nation, working in an embassy and realized that I just love the work. So when I got back to Hawaii I applied via the LAT transfer board and was accepted as a Middle East Fail and from there went to DLI. I learned Arabic at DLI in Monterey and then did a tour at NavSent in Bahrain. I was the Country Engagement Officer for Egypt and Jordan and then moved over to the Bahrain Desk Officer job. From there I was selected to come here to Millington and I'm the Junior Detailer for 03 and 04 Foreign Area Officers. All right, okay. That's us, Matt Meyers, Lindsay Fatt, here we go. Okay, so I'm sure you all are in deep on all of this stuff there in your curriculum. So I won't belabor it, but I think it's worthy to point out that the first line of the National Defense Strategy is that the NDS acknowledges an increasingly complex global security environment characterized by over challenges to the free and open international order and the reemergence of long-term strategic competition between nations, which of course goes on to discuss great power competition. As you know, there are three distinct lines of effort in the National Defense Strategy, rebuilding military readiness, reforming DOD business practices, but where we get most involved is strengthening alliances as we attract new partners. And you would see this theme over and over again in strategy document after strategy document. So as I'm sure you're aware, Tri-Service Maritime Strategy just published in December, doubles down on strengthening alliances and partnerships, saying that the Naval Service will foster a global unity of effort to secure unfettered access to the maritime domain. Strong worldwide network of maritime partnerships united in common purpose, common purpose serves as an enduring advantage over our rivals. Furthermore, CNO's NAP plan published just last month states that our naval power is amplified by sailing and integrating with like-minded navies. We must continue to strengthen our alliances and partnerships to ensure our success across the continuum of day-to-day competition, crisis and conflict. We must continue operating interchangeably with key allies to expand the reach and lethality of our collective forces across the globe. Our robust constellation of allies and partners remains a critical strategic advantage over our competitors. So all that stuff doesn't just happen by itself. It takes active engagement, cooperation and really forcing the issue to ensure that we can talk to each other on the radios. We can see each other's contacts on our platform. And then really that relationship piece, not just at the upper echelon levels of government leadership, of course that's important, but really sometimes the day-to-day relationships are also important for knowing who to call to get that last-minute access, to get that aircraft in for refueling and those things and exercising those relationships and ensuring that we know how to exercise the contacts and use that access that we have and use it regularly to ensure that it's always there for us. So within the national defense strategy, looking at a foreign air officer, a common question we receive is who are you? And so probably the number one key aspect of a foreign air officer, we're globally embedded. We are working inside the foreign countries with our foreign partners and occasionally even embedded in their fleets, riding on their ships, operating right alongside those naval partners. We're persistently forward. Two thirds of our billets are overseas. Majority of a FAO's career will be spent downrange, whether it a staff in an embassy or stationed with the foreign partner. Our job is foreign, it's always forward. And even those jobs that we do have that are back in CONUS, the mindset is still forward, looking at still thinking about who our international partners are engaging with them and then also continuing to advance that national defense strategy. We're strategic operators. And so this really means that we're on the front lines of that great power competition within the framework of the national defense strategy. We're developing those desired strategic outcomes and then we're tying them to those tactical execution engagements and events that are happening down at the more tactical level. And we're also, we're leaders, but not in the typical sense that you see in the fleet. We're leading interagency teams, we're leading joint teams inside of embassies. We're leading multinational teams with our international partners. And this is all to advance Navy and Joint Force objectives. Next slide, please. When it comes to what we do, we, everything that foreign air officers are doing is to advance the global objectives that are laid out in the national defense strategy and the CNOs building allies and partners line of effort. We do this in a couple of different ways. One is assuring global access and posture in working overseas and assuring that our fleets have the access-facing and overflight privileges that they need, working with our international partners to make sure that this happens respecting sovereignty, but also being able to cooperate. The FAOs are the ones who are making all this happen so that our ships can move where they need to, the forces can move where they need to and that we can move logistics as required to achieve our mission objectives. Interoperability with our partners is also incredibly important. As Commander Meyers has already mentioned, being able to talk on the same radios, being able to see each other, being able to coordinate different types of missions and preserve those mission objectives. Interoperability with our partners is incredibly important. This can be done through foreign military sales, international military education and training. I'm sure that you see that you have international students from other navies there at the Naval War College. This is important to help our international partners understand US naval operational planning. And then also doing that middle to middle cooperation to build familiarity between our navies. FAOs are also doing information and influence type of operations. This can be done. Human intelligence, strategic messaging, strategic engagements and dialogue. Sometimes these can be at a more operational level with military commanders and sometimes it's even at the secretarial or ministerial level. And this is all in advance of combined lethality because when we develop our allies and partners to be capable and willing partners, this advances both of our objectives. Next slide, please. And so then it comes down to how are we doing all of these different things? How are we achieving it? And it's through three main lines of work. So it's security cooperation, human intelligence and influence operations and then strategy plans and policy. Security cooperation can be done via the fleet headquarters, combat command headquarters. Most often through our offices, defense cooperation or security cooperation, they go by different names in the embassy. And then the defense attaché service is that second line of work for human intelligence and influence operations. And then they are acting as the secretary of the Navy's direct liaison, direct representative to that naval fleet. And they keep important lines of communication open that are critical with both partners and in our international hosts. With strategy plans and policy, this goes back to working towards that national defense strategy objectives. And this can be done at Navy, joint and interagency staffs like the State Department and the defense security cooperation agency. Sorry. Next slide, please. So this slide here goes into some real life examples of some of those things Commander Fass was just talking about along our three lines of work. So these are all things that our FAOs were doing just last fall. So in Canada, for example, one of our FAO commanders oversees a complex portfolio of 35 foreign military sales programs valued at $935 million. This has resulted directly into some upgrades like their F-18 aircraft for IFF mode five and then an option on their future fighter capability aircraft up to $12 billion for 2025. So I mean, that kind of huge impact is both a big investment in our defense industry but also builds up an ally, their capability both to be stronger as a partner for us and to work with us, allow us to operate better with them. And then in Greece, you can see Captain Ketter there in white oversaw the first visit between both the Greek Prime Minister and the US Secretary of State to Naval Security Activity, Suda Bay. It's really able to double down on the importance of that facility as a location for as an access point for us, for our ships and our aircraft in that critical theater of operations. Down in Cabo Verde, one of our junior AFRICOM FAOs, Lieutenant Commander Cain, coordinated the diplomatic and logistics support for about a two-month Coast Guard-Cutter deployment. As I'm sure you're aware out in the fleet, we don't have a huge number of service combatants that can regularly train with all of our allies and partners, but being able to work with the Coast Guard and leverage one of those ships to get in there and operate together with the Cabo Verde Navy really showed our commitment to them as a partner in the face of GPC adversaries operating in the region. All right, so now this, we're gonna drill down a little bit on the FAO community itself. So we are very small communities, designator 1710. We're one of the smallest communities in the Navy, about 400 strong. We'll be growing to about 425 by FY 22, but still this is, compared to other communities, aviation, for example, has about 13,000 officers. SWO community has about 8,000 officers. So our 400 is very small, but we are elite. We're highly trained, we're efficient, and we're professional in what we do. You can see the pie chart on the left, five, we're assigned to one of five AORs. They correspond to the geographic combatant commands. As Commander Fats mentioned, she's a sent-con FAO. I am an Indo-Pay-con FAO, and that's then also we have, of course, SouthCon, UConn, and AfroCon. But typically we do our training, both language and regionally focused master's degree, focuses around the assigned AOR, and we typically will spend, do most of our tours in the AOR, but also sometimes go outside of the AOR when needed by the community and when those opportunities are available. So as small as we are, and very closely aligned one-for-one billets to bodies, we're not always able to plug in an officer in their region. Sometimes they do have to go out of their region, but that can be, that can, those can be some good opportunity too. So our billets, 402 in FY21, as I said, grow into 425 by FY22 range from 03 up to the flag ranks. We're in 79 different countries. So Commander Fats mentioned those three broad lines of work, Attache, SCO, and then staff. So SCO, security cooperation, as you can see in the green pie chart. So those are usually in the embassies, are located in the capitals, working this, the foreign military sales portfolios and often the directs training and mill-to-mill engagement with the host nation. Attache service, more of a representational role. You can see them at about 15% of our billets. And then other staff billets, such as Fleet Staffs and Agency Assignments, OSB, State Department, et cetera. You can see how those are kind of spread out. PEP, you'll see that personal exchange program. I'm sure you're familiar with that. Lindsay's gonna talk about that a little bit more. Most of these are overseas, a lot of joint billets. We have no problems getting anybody their joint credit. We've got lots and lots of joint. And most of these do have training requirements and often you will have to learn a second language depending on your specific follow-on assignment beyond the one that you initially qualified in. So we're a pretty young and new community. We stood up only in 2006. First crop of New Faos was 32 and we have grown steadily since just hitting our FOC 400 just a couple of months ago. So we've come a long way, but we still will take a lot of people in via lateral transfer on every board just to offset. We still have to grow about 20 people. So due to some recent growth and then even just replacing the retiring officers that we have, we still need to bring in around 15 officers per lateral transfer board. So opportunities have not diminished to join the FAO community. If you're interested or you know somebody who wins just because we've reached FOC now. So we mentioned that we have billets in 79 different countries. These are our embassy billets that are overseas. Between SCO and Naval Attache, we have roughly 130 billets all over the world divided up into our different regions. About 81 SCO and 49 Attache billets. 95% of the Navy SCO billets are filled by FAOs. The only three that are not are, we have one in Japan, one in Pakistan and one in Jamaica that are filled by non 1710s. And then about 50% of our Attache billets are coded for 1710 and the others are a mere at between 1310, a thousand coded and what have you. Two of our Attache billets are considered flying FAO billets. And those are opportunities for prior 1310s who are still in good standing to, to fly the C12 that's on station but Commander Myers will mention that in a little more detail. Next slide please. When it comes to our staff billets there's definitely a more concentration in the US but still worldwide between the different naval component commands and the fleet headquarters. We also have seven PEP assignments. There's roughly 80 PEP billets in the Navy, seven of which are coded for 1710. Most of these are English instructors at our foreign naval academies. And these in our foreign war colleges are great opportunities for our junior FAOs specifically because one they offer that opportunity to get your in region experience but also because out of foreign war college or out of PEP assignment it gives you the opportunity to really create those relationships with your international partner at a more junior level so that as you both grow and mature and promote in your own service you still have those relationships to be able to have those lines of communication and work with each other. For example, in Chile if you go to the war college there and then we have an 04 and a milestone 05 billet at the embassy and then also the SDO.is filled by us 1710. So there's this opportunity to develop these relationships early on in your career and be able to carry those as you promote and become more senior. Next slide please. Okay, so how to join? If you're interested in making learning more about this possible career transition you do have to have a minimum of five years of commission service or one of the very few communities that has such a late entry point. So of course anyone in this crowd anyone at the war college probably is you're all lieutenant commanders for vast majority. So that's not an issue. So really it's open to lateral transfer anywhere between five up to really up to 15, 20 years of service. I mean you could lateral transfer as a commander if you've got that senior if you've got some of the most of the qualification items already under your belt and you've got a strong operational record. So first and foremost we're looking for we're looking for warfare qualified officers with a record of sustained superior performance. We're not, it is highly competitive to get into the FAO community. So we're not, we're not taking the washouts from other communities where we're taking those people who are just looking to do something different feel like perhaps this line of work is more suitable with their interests. So lateral transfer board happens every six months here in Millington basically where every, everybody in every community who's looking to change designators applies and then can be selected depending on the number of quotas available. So as I mentioned, sustained superior performance warfare qualified your GPA matters because both to show that your academic aptitude in general and as a usually a good indicator for your writing and communication skills and your work ethic. So that is important, but for those of you already getting your master's degree there, it's, you know, that you're gonna have that under your belt. So I'm sure that's not too much of an issue for you. The D lab is an aptitude test that you're required to take before you apply for lateral transfer. And this is a test which measures your ability to, your ability to learn a foreign language. It basically makes up, it invents a language, teaches you the rules to that language and then plays you some passages and asks you to identify some patterns. So it's pretty effective at identifying whether you're going to struggle in learning a foreign language or not. So a lot of people already apply, already having a foreign language under their belt and that's great. That shows that you've learned to learn that language but very often you will need you to learn another language for a different assignment or we may need to assign you to a different AOR. So that's why the D lab is still important and required. So you can generally take that at any kind of DOD testing facility, it's not a Navy specific test and that score never expires. So a 110 is the minimum, but higher is better just to demonstrate that you're not going to have any issues learning a foreign language. So the FAO community certainly values people with overseas experience already. Perhaps maybe you've done a staff tour, seven fleet, six fleet, et cetera, something like that. That's valued even just an overseas assignment like a Yacosco based ship or squadron. You can get some good overseas experience well that will help prepare you for the FAO community. As I mentioned, if you have a foreign language ready that's great. If you don't, it's not necessarily required. We will teach you a language, the language that you need to know. So it's fine if you don't have one. And then having a regionally focused graduate education, particularly if you graduate from the National Security Studies program there at Naval War College, which most people out there are probably, that's what you're enrolled in. That will generally meet your regionally focused master's degree requirement. So that gets you ahead and able to get you fully qualified and employed out in the fleet sooner as a foreign area officer. So definitely everybody has a very different path into the FAO community. And really it can be viable at a lot of different times in your career. So everybody's an individual case. So really encourage you to reach out to me or Commander Fats offline later with your specific situation if you're interested. And we can talk through what kind of, what your timeline would look like, what your qualification path would look like, how viable you may or may not be for continued promotion in the FAO community. And happy to talk through that because it's almost always a case by case individual basis. So talking about the specific training pipeline, it really is a bespoke process because while there are three main qualification requirements set by the DOD for joint FAOs, that being the regionally focused political military master's degree, language proficiency at two, two or above and two of the three modalities and one year of in theater duty experience, every FAO brings a little something different to the table. Some are a clean slate and we refer to them as a full build FAO. I need to take you from having no qualification requirements to full qualification. And the timeline for that depending on your region could be 18 months or it could be as long as four years for some of our regions. And so we're just gonna, my priority as the junior detailer is really looking at how we're going to get you to full qualification in the most expedient but complete manner.  That does not fit the requirement. And so we're gonna talk about, okay, what are the other options? You're still eligible to LAT transfer.  Maybe we're gonna do a foreign war college because then we're gonna get you that language, send you to the war college with your international partners which is gonna dual count as both a one year of in theater experience as well as that regionally focused degree. So a lot of different ways. A lot of our officers do go through the Naval Postgraduate School. We have two new FAOs who are students at the Naval War College. And then some of our officers do cool mill masters or did Olmsted while they are a URL. And so we're able to use those degrees to meet the requirements. Most languages are taught at DLI in Monterey but the lower density languages are taught there in Washington, DC. And then we occasionally have heritage speakers that we're able to match up with the region and maximize that. However, sometimes we'll get officers and they may bring a heritage language for a region that there's not a need in their year group but they have a high D lab or they have other experience that makes them better suited for another AOR. And so we'll have that conversation and we get them fully trained. Like Commander Myers said, sometimes our FAOs will learn one, two, three languages depending on the billet and where we need them and their aptitude to be able to do that. Following graduate and language education then our FAOs can expect to do their first tour in region to get that in-bitter duty experience. This can be an APAP assignment. It could be at a foreign war college. It could be at a perhaps a staff if sixthly or fifthly or seventhly. And then some of our FAOs will go direct to the embassies to do security cooperation. So it really is a little bit of a different path for every FAO based on both their background and the region they're assigned. Next slide, please. So this is a slide that depicts the nominal FAO career path. And really it begins with the source community. We, as Commander Myers mentioned, we are lateral transfer only. That can start as early as five years commission service but it can extend if you were an Olmsted scholar or you went to give FAOs who are later accessions and did a foreign war college with their parent community. So they're bringing over all of those skills, all of those qualification requirements and a lot of great experience. So we do see FAOs that come in at that 10, 12, 14 year mark and they really aren't disadvantaged. Our board analysis shows that despite when you come into the community as long as you're getting qualified and you have that record of sustained superior performance, that is really what's gonna matter most. Then as a FAO, again, it just like everything else, it's all a little bit different and it that really depends on your region and then the timing. Typically we'll see a staff tour or a SCO tour and we try to mix those up as much as possible but the region dynamics will impact that. But big things that we're looking for is getting those competitive breakouts whether as in a group of peers or even against your reporting seniors, community average. Our folks in Southcom, AFRICOM and UCOM if they're serving in a SCO tour on the continent, they are all considered one pool. So those are actually still competitive assignments for those FAOs. So just a lot of different options as you go through trying to get to those Adache assignments. Our milestone board is after the O5 selection board. And then at that point, you can see that you can still expect to do different types of training and that training can include JPME2, it can include the joint military Adache school which is about 12 weeks. If you're going to a SCO billet, you can expect to spend about five weeks at Wright Pat Air Force Base, DSC University. And occasionally you're gonna get one, two more languages. Additionally, FAOs are offered resources to be able to maintain their language and occasionally they're able to get enhancement or sustainment training in between their different tours. Next slide, please. All right, talk a little bit about money.  We got that too, up to $1,000 per month for foreign language proficiency bonus is pretty, is a pretty welcome boost to the paycheck. Also things like CPAY, my last tour on seventh fleet staff, I think the whole two years, we were underway about a month, but I collected CPAY the whole time, about 400 bucks a month. So that's a nice boost as well. Of course, hazardous duty incentive pay, imminent danger pay, depending on the specific location for those flying attache billets for the aviators in the crowd that you, of course, you'll get flight pay when you're in those billets, but not all the time like aviators get now. And then COLA is no joke. That is a pretty significant boost to your paycheck as well. It's typically calculated to truly capture those additional costs you have for being overseas. And generally, I always felt a lot more wealthy with living overseas than I do back in the States here in Tennessee, where I no longer get that COLA, felt like a pretty big drop in the paycheck. And then of course, a lot of tax-free locations too, which can be nice. Okay, so enable aviation qualified FAO. So of the 400 of us FAOs, there's about 50 of us who have this designation. You have to come from the 1310 aviator. And what it means, and you can't have ball-termed or you've given up your wings or anything like that. You've got to be in good standing with the aviation community when you leave. And then once you are aeronautically designated, you're eligible for our aviation FAO billets. Those are 1712 coated billets. But also there's pilot-designated flying at SSA billets as well. So there's 13 total naval flying at SSA billets ranging in rank from 04 to 06. Two of them are coated for FAO, but that's just a manning coating. The reality is that we fill each other's billets between FAO and aviation all the time. I think about a year ago, they were filling all of ours and we were filling two or three of theirs. So it just kind of, those opportunities are out there. The only catch is you have to do it. You can't be out of the cockpit for more than 10 years or you turn into a pumpkin. So I just keep that in mind as you pick your choices. So your naval at SSA is your primary duty, but they have C-12s on station as Lindsay mentioned, which you will fly to maintain your NAETOPs. And then it's also, it's flown as part of your mission in some cases to get you or other people that you need to access two different parts of the country and different people. And so there's some good payoff for doing those. Okay, so that is our last prepared slide. I'm gonna take this slide down in a minute, but do make a note. If you're interested and we have time for Q and A and we'll definitely take anyone's questions, but if you wanna talk about your specific situation and whether or not there might be a path for you or if you just have more questions in general, please take note of our phone numbers and email addresses and feel free to reach out later to have a more direct conversation. You're welcome to just cold call me. That number rings through to my cell phone when I'm teleworking, I'd be happy to talk. So I'll take this down in a moment, but before we go into Q and A, I just wanna make a couple of introductions of folks on the call. So first of all, Commander Greg Adams is there on the Naval War College staff. He's an operational planner in international programs and there he is, hi Greg. So he, all right. So Greg is an Indo-Paycom fail like me, but it's such a diverse, even someone from the same region. He was at BTF 73 doing great things there in Singapore and then just came from at attache duty in Indonesia and then on to, he went out of region after that over to Naples on our staff there. So that's a good example of someone going outside the region, but he's there a great, a real superstar fail and is a great person to kind of get with offline too and ask questions. And then I think our, as Lindsay mentioned, two student fails going through the curriculum there that you could kind of talk to. They don't exactly have experience as fail out in the field yet, but at least they have recently navigated the treacherous path of the lateral transfer board. And so they can give you some tips for how you get released from your community and find your way through the board. So that's Lieutenant Commander Muhammad Furqan and then Lieutenant Commander Warren Brooks. So I think I see both of them on this call. I just wanted to point them out. So you can connect with any of those gents offline, but I will stop there and turn it, and we'll open it up for questions. And then Laura, whenever we're out of time and you need to shut us off, just go ahead and call. Thank you.