communication ray theory 2. So, in the previous lecture we have studied about the total internal reflection and critical angle here. So, here these are the learning outcomes. At end of this session students will be able to describe the acceptance angle, numerical aperture and the skew rays here. So, before starting to this session just recall what is the critical angle and total internal reflection here because those two concepts are required for this session. So, now before starting to the numerical aperture, so we will see the different rays now how the rays will travel inside the core of an fiber optical cable here. So, as shown in this figure there are three different types of rays can be transmitted through the fiber optical fiber here. So, first one is the skew rays, meridional rays and axial rays here. So, the difference we will see now. So, this is the end view here. So, how it will look like in the end view. So, the skew rays will never passes through the center of the core here as we have seen in the previous lectures. So, this is the core and this is the cladding and above this one mechanical jacket will be there for the to protect from the damage and the moisture of the environment here. So, the skew rays will never passes through this center of the core here as shown in this figure. So, it will be touching to the boundaries of the core and cladding surface here and it will be look like in the this manner when we see at the end view here. So, these are the skew rays. Meridional rays the ray passes through the center of the core and it is reflected back from the parallel surface of the core and passes through the center here. So, it will look like this. So, it will look like a straight line when we see in the end view here and from the side view it will be look like this here. So, this is the core and this is the dotted line is the center here. So, it passes through the center of the core here. So, one more is there excel. So, excel is the dot as shown in this end view because the excel ray travels straight through the center of the core it never touches to the parallel surface of the core and the cladding here. So, these are the three different rays are there. So, which are going to be transmitted inside the optical fiber here skew rays, meridional rays and the excel rays here. So, now we will see the acceptance angle here that is the theta A. So, the acceptance angle is nothing but that is the theta A is the maximum angle over which the light rays enters the fiber guiding along its core here. So, as shown in this figure this is the core and this is the cladding here. So, now this is the acceptance cone as shown in this figure here. So, this is canonical half angle here that is the theta A here. So, the light ray will incident on this core here and it will get passed through this fiber optical here. So, what is the rule is there? So, we should incident this angle greater than the critical angle so that this ray will remain inside the core only. So, that is why this core inside this core will be following if the angle is incident less than that critical angle like the ray B here. So, it will get surpassed through the core and it will get into the cladding where the data will be lost here. So, that is why it is written here eventually lost by the radiation here. So, that is the most important thing at which angle you are going to incident the ray here. So, that is the theta A is the maximum angle over which the light rays entering the fiber guided along its core here. So, now we will see the what is numerical aperture here. So, the numerical aperture is nothing but it is the acceptance angle is normally measured in the terms of NA that is numerical aperture. Numerical aperture is measure of the light gathering capability of an fiber here. So, when you are going to incident the light that is the acceptance angles so the maximum light gathering capability will be there here. So, at which angle you are going to incident here. So, that is why it is shown in this figure here this is the inside the core and this is the cladding here. Now, we will see the derivation how to calculate an numerical aperture that is an NA here. But before that we will straight away see that how it is calculated that is the optical system NA that is a numerical aperture is being calculated in terms of N0 into sin of theta A. So, theta A is nothing but the acceptance angle here. Where N0 is the index of refraction of the surrounding medium surrounding medium here. So, we have seen in the previous slide that is theta A is nothing but angle of maximum cone of a light that can enter through the optical system so that the light remains inside the core only here. So, this is regarding about the numerical aperture how it is calculated it is calculated by NA is equals to N0 sin of theta A here. So, now we will see how it is calculated here. So, if you see applying the snail law so in the previous video lecture what we have seen the snail's law that is N0 sin of theta I is equals to N1 sin theta R. So, this is the normal snail's law which has to be written here. So, from figure C using trigonometry we can write this theta R can be written as a sin of 90 minus a phi that is theta C here that is in critical angle here. So, I shown in this figure so this is the incident angle here at which the acceptance cone is there that is the theta max here. So, it will get travel here and if you draw the normal here if you draw the normal here. So, if you take this as an phi means theta C so it will be automatically by trigonometry rule it will be 90 minus a theta C here. So, automatically it will be also in corresponding angles will be an theta C here to follow the total internal reflection just recall that diagram which was used in the previous lecture here that is phi that is the theta C into theta C here. So, using that relation we are going to understand that. So, theta R is equals to sin 90 minus theta C where cos is equals to cos theta C here. So, 90 minus theta C can be written as an cos theta C here. Now, putting the value of in theta R into the snails law so we are going to put this cos theta C into this equation that is the snails law that will be come to be an n 0 upon n 1 into sin theta I which is equals to theta cos C this is the equation number 4 here. Now, squaring on both the side that is n square 0 upon n 1 square into sin theta okay sin square theta I is which is equals to cos square theta C. So, which can be written as an 1 minus sin square theta C here. So, this is by using the mathematical expression that is cos square theta C can be written as 1 minus sin square theta C which is known as an can be calculated as an sin square theta C that is critical angle how it is calculated theta C is equals to sin inverse of n 2 upon n 1 here. So, the same thing we have to replace here now that is 1 minus n square n 2 square upon n 1 square here okay this will be the equation 5. So, thus we know that n 0 sin theta I is equals to n 1 square minus n 2 square here half that is the equation number 6 okay. Now, from the equation 1 and 6. So, we can write that is n is equals to n 1 square minus n 2 square of half where n 1 and n 2 are known nothing, but they are the refractive indexes of the core and the cladding respectively. So, the equation 1 is nothing, but so this is the equation 1 that is the n 0 sin theta A here okay. So, an equation 6 is this n 0 sin theta I is equals to n 1 square minus n 2 square half okay. So, this are n A can be written as an n 1 square minus n 2 square here okay. So, this is the n A also depends on the refractive index of the material which is used that is core and cladding here okay. So, the n A may be also may be given in terms of relative refractive index here that is the difference delta between the core and cladding which is defined as okay. So, delta is equals to n 1 square minus n 2 square upon 2 n 1 square here okay. So, that can be written as an where n 1 upon n 1 minus n 2 upon n 1 for delta less than 1. If the delta that is the relative refractive index of n 1 and n 2 is less than 1. So, you can write directly this equation here okay. Now, the companion equation this 7 and 9 we can have n A is equals to n 1 bracket 2 delta raise to half here because so n A can be calculated. So, while solving some examples in some examples they will give the values of an refractive index n 1 and n 2 or they will give the relative refractive index here. So, students must know how to calculate and which formula is going to be used for that particular example to solving here. So, when they give the relative refractive index n and that is delta or n 1.  So, by this we can understand that to calculate the numerical aperture. So, we should understand what is the critical angle and the total internal reflection here okay. So, these are my references. Thank you.


a presentation of TFNN. The Tom O'Brien Show is produced every business day. Tom takes your phone calls toll free at 1-877-927-6648 internationally at<PHONE_NUMBER>. Let's go to Andy in Boulder, Colorado. Hey, Andy, what's going on, brother? How much are you telling how you've been? I'm great, man, it's all pretty good. Hey, congratulations on the grand baby. Yes, thank you. I know. Tommy just sent me a picture. I mean, it's gorgeous out right now. He just was taking them out for his first walk, so on it. He's prowling and prowling already. Yeah, I bet. Now, Tom O'Brien. What's going on, everyone? This is Jacob, filling in for Tom today. He'll be back to Zalba with you Monday as well. Regarding the market, we have everything a little bit down. Meta's up a little bit. Nvidia's up a little bit. The banks obviously were far higher this morning. We'll take a look at that a little bit. One of the things that was interesting is at the open, the ES mini really popped up quite a bit. Second year. And then we just had a complete, just decrease in volume, or excuse me, decrease in value here, high volume on that bar down. It's been trying to get past that 41.60 for the last bit of the day. So we'll see what happens. Light volume every time it's testing it. So we'll see if we get a little bit of a test again. Today we'll talk about the banks, which is huge. I wanna talk about a little bit. Yesterday I wanted to speak some of the hydrogen fuel cells at Toyota had been kind of developing and that broader market in general. And we have a bunch of pretty interesting stuff to show you. Boeing, this is big news today. Boeing dropped about 5%, 5.7%. And what went on with this is they had a piece of their 737 Maxs and the company that they sourced it from was having production issues. That company is a Spirit Aero Systems. As you can see right here, Spirit really took the dive today. Let's get it on a bigger timeframe here. Going to yearly.  There's a little piece in the back wing. It's not a safety issue, Boeing is saying. But regardless, it's gonna, there's some theory or some talk that it's gonna hinder their production numbers. So we'll see that comes to fruition on that. And however, Boeing is going with alternative suppliers. This is pretty bad for Spirit Aero Systems. You know, when you're such a small company like this and your major buyer is something like Boeing, when you fail, it's kind of hard to recover a little bit from that. Is this drop really meaningful in Boeing? You know, they might meet production targets, right? If they're using other suppliers, there's a chance they'll meet the production quotas that they have and it's not a safety issue. This is a bit sad, because as you can kind of see from October of last year, you really had a lot of very attractive momentum building. I mean, you know, even the beginning of end of September, but of course on the 26th and 25th, you have this really nice volume here. So this was kind of a shame for Boeing, but just if you hold this stock, just keep a lookout. I mean, I don't think this is gonna really cut in too deeply. So we'll see what happens. NVIDIA Interesting, Tesla, excuse me, Elon Musk bought a bunch of their GPUs because he wants to get into the AI business. And he had made some conversation that, I think he wanted to buy a chat GPT and they were open AI, they're like, no, this guy is so spread thin. I don't understand how he has the capital for this. I don't see what his long-term kind of solution for this or long-term plan at least. I get so nervous every time he says he's going to add some kind of new breath to his business. It's just kind of strange. We'll talk a little bit more on chips as well, especially with Intel. But first, I wanna talk a little bit about the OPEC cuts. And I spoke about this yesterday, right? And this is interesting. This is kind of going in fully to this recession talk, right? So IEA says risk oil supply deficit and threatens economic recovery. So definitely in the developing world and countries that are not the US, this absolutely could be a major problem. You're seeing this cut even reflect in Russian oil, which is now selling way above and being purchased way above by Asia, namely China, then the cap that the West had placed on it for sanction purposes. So consumer countries represented by the IEA have argued that tightening supplies drive up prices, of course, and could threaten a recession, while OPEC plus blames Western monetary policy for market volatility and inflation, which undercuts the value of oil. Interesting. Oil market balances were already set to tighten in the second half of 2023 with the potential for substantial supply deficit to emerge. See the IEA saw 2023 demand a record 101.9 million barrels per day up two million barrels per day on the last year and on par with this prediction last month. And this kind of explains why this sanction that the West has tried to place on Russia isn't really gonna fly. The IEA said it expected global oil supply to fall by 400,000 barrels per day by the end of the year, setting an expected production increase of one million barrels per day from outside of the OPEC plus, beginning in March versus 1.4 million decline from the producer's block. So yesterday what I was saying is I was looking at the CPI and one of the major components that was pushing down the CPI was energy, right? And I was showing how there was a little bit of deployment from the strategic petroleum reserves done through March and that all these kind of revelations with increasing prices and lowering, mainly lowering supply came in April and we're gonna see a little bump in the United States. I think though what I wasn't looking at yesterday when I was saying that we might get a far higher CPI afterwards is one, obviously we're gonna get the same amount that we were going through for the same price up until May. You have some major analysts saying, I mean, even the Fed saying that there's probably gonna be a recession. Obviously drive down the price of oil because more people aren't moving around. There's not as in demand as it is when the economy is chugging along fine. Also in the same vein, America has the, we have the capacity to be the largest producer of oil if we aren't currently. I know it kind of flips sometimes, but if anything really happens where it gets to a point where oil is getting way out of control, energy is getting way out of control, I do believe that something like increased production in the States will probably be a reality. With the recession, again, I do see that being kind of a deflationary pressure on the price of oil. If this 400,000 cut does make some kind of a splash. Folks, stay tuned, we'll be right back. If you have any questions, ask me in the den, ask me in YouTube, you can call us as well. You can email me at jacobfnn.com. We'll be right back. Currencies, commodities and bond markets are as important as ever right now with how they're driving the volatility in equity markets across the globe, which is why it's a great time to try out Teddy Kegstad's Tiger Forex Report. Teddy Kegstad breaks down the forex markets every Monday using his 30 plus years of experience as a trading veteran of futures, forex, stocks and options. Teddy releases his weekly Tiger Forex Report every Monday morning with coverage of all the major currency pairs, including the dollar index, the euro dollar, pound dollar, dollar Swiss, dollar yen, as well as many more. And he also has weekly coverage of the crude oil market and the 30 year T-bonds as they both influence forex markets tremendously. 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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. Everything in the universe is governed by the Fibonacci sequence. This mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market. To stay on top of stock patterns you can take advantage of, sign up for the Fibonacci 24-7 newsletter at TFNN.com. When you subscribe, you'll get a weekly report from veteran day trader Larry Pezzavento on stocks you need to pay attention to and you can trust Larry's analysis. After all, he's got 45 years experience as a day trader. Larry will also provide daily charts, videos and data on the key markets that he's tracking. Expect notifications from Larry on market movement you need to act on at any time. 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. Subscribe to the Fibonacci 24-7 newsletter today, TFNN.com, educating investors. Free at 1-877-927-6648, internationally at<PHONE_NUMBER>. Welcome back, folks. So I got a message from one of our viewers. He wanted to look at Fubo. So what Fubo is is like a basically a live sports streaming platform. I think this is somehow related with YouTube TV. I found some things that I don't really necessarily like about this. I mean, one, there's just no action here at all. You get a nice real steady decline. I mean, some kind of response in February of this year. But then, again, just a slow decline with not much volume whatsoever. I was looking at their financials. This company burns through cash pretty quickly. Another thing that his name is Barrett, the guy who asks about Fubo, he was saying that they've increased subscriber counts. And that is true, they have. But what it seems to be offset by is that their price for acquiring content has also increased drastically. So much so that they had lower revenue. It just seems like this company at least currently isn't really poised for anything big to blow. That's just my opinion on it. Of course, always do your own research. But I don't know, when you see kind of just a slow volume and nothing really being tested, I mean, the last high volume day isn't even close to being tested yet. I don't know. Yeah, I'm not a fan, at least, of Fubo. It also turns out that they only stream in 720p max. That's not great. That's really not great. And really, what is their leverage, right? Are sports producers? Are they going to just sign a straight contract with Fubo? And that's it, like no, Fubo's very small. I think someone else could easily step in and try to get some of that market share with there if they decided they want to. But that's my opinion on it, Barrett, do with that what you want. So what I wanted to look at as well was US standing, global standing in chip manufacturing. This is super interesting. There's been more talk surrounding Intel with what's going on. And I'll give you a quick run on this, right? So Intel had this light etch kind of deal essentially to make integrated circuit chips. But this kind of complicated everything. Intel executives believed it would take years for the method to become practical. And instead, they stuck with older manufacturing techniques for the generation of chips. Obviously, that's not very good, especially if you understand how important the newest cutting edge chips are. This is actually a way that we kind of kept China in the back is by only giving them last generation chips. And you can see really a nice loss of share there from the 90s, 2000s, and then projected out to 2030. So the article says Intel is today at another crucial juncture. If his plan, the company finally produces chips made with EUV, which is that etching strategy I was just talking about, in large volume later this year, it will be an important step on the road back. And that's road back to any kind of dominance in that sector. Nowhere will progress be watched more anxiously, obviously, than in our nation's capital where the current administration is facing an imminent decision about how much financial backing to throw behind the company. And really, the current administration has pledged something like $52 billion in this. This is getting to a point where it's extraordinarily serious, especially on a national security level to kind of keep these sensitive products, at least in our control. Everything that's happening with Taiwan and the posturing going on there. Even this projection here is quite nuts. I mean, this is straight cut in from China taking away from Taiwan's production. It's interesting. So yeah, last year, the US CHIPS Act committed $52 billion in direct subsidies to support semiconductor manufacturing and to boost research and development, along with an estimated $24 billion worth of tax credits over the next eight years. The law was designed to reverse a slide that has taken the US share of chip production to 12% from 37% in 1990. It's another interesting, I do think with situations we've had, like the pandemic, and then what we are seeing now with some of these countries at least talk about not using the US dollar for trade, or whatever, just, you get this concept in economics called the Fisher Effect.  And that's, I think kind of what we're seeing is what the end goal of that is on a macro scale. We're now these countries that were, you know, I mean, really developing with the capital D a few decades ago are now powerful enough to where they can make deals within themselves. And it does challenge a little bit of the US hegemon, but one of the things that was interesting to me was during COVID, an article came out that something like 90%, if not higher, of our pharmaceuticals were made outside of the country. And, you know, I think these big situations are kind of turning a light on how serious that can be if everything kind of collapses and everything crumbles. And what I mean by everything collapsing is just international relations being shaken up, just any kind of tension on a global scale or something unforeseen like a pandemic, you know, that poses a major, major issue. And so seeing this manufacturing coming back to the States as almost a really, it's a valid security risk. It's not just a political opinion anymore. It's now being seen as this is necessary for any kind of long-term survival, I would suppose. You know, in AMD, every competitor for Intel has just basically smoked them for the past few years. Obviously AMD is massive, they've smoked everyone. NVIDIA is second in this, TSMC kind of split off from that same area. And Intel just stays pretty standard in the mediocrity, at least in this realm. If they end up getting some nice capital injection from the government based on this and that they can really get their stuff together on it, Intel could be poised to really make quite a run up on it. So yeah, they also are getting into Germany as well. This was a good article from Financial Times. So Germany pushes Intel to spend more on the $17 billion chip plant. Officials will consider increasing subsidies for a landmark project if the US chipmaker commits to greater investment. The US semiconductor group is due to receive 6.8 billion euros in subsidies from Berlin to build a mega fabrication plant in the eastern city of Magdeburg. People close to the company said Intel wanted subsidies to rise to at least 10 billion, citing higher energy and construction costs. German officials said they could increase the financial support but only on the condition that the group invested more. However, any requirement for Intel to invest more could add a financial pressure on the company at a critical time. And really, it is, I have no idea what the thought process is on Intel's part for doing something like that. Again, I'll pull up this chart for you. But if you see how they're doing compared to the competition, it seems strange that they're asking for more if they could, in theory, do it with the amount that they're being offered. Folks, when we go back, we'll continue a little bit more on this, not too much longer. I want to talk to you about something interesting with FINRA and we're going to go into the banks as well. So, folks, we'll be right back. 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. And it's not just dry, tedious text either. TFNN airs live financial content streamed live on tfnn.com and TFNN's YouTube channel with Tiger TV, live every market day from 8.30 a.m. to 4.00 p.m. Eastern. For free. Each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world. From the moment the market opens until the closing bell sounds, there are different shows with expert hosts to help you make the right moves with your money. Watch online at tfnn.com or on TFNN's YouTube channel and become the investor you were born to be. TFNN, educating investors. And now they are expanding their reach with the Tiger's Den, available to all Tigers and Tigresses for just $1 for the year. There's no catch or added costs when you join our community of traders. In the Tiger's Den, you can look over the shoulders of Tom O'Brien and the other TFNN hosts while they analyze charts during their live Tiger TV programs and join an interactive trading community with hundreds of members exchanging ideas, interact with other Tigers and Tigresses as they share trading ideas, news analysis and discuss the market action all trading day, even at night and on the weekends. The Tiger's Den at Discord is accessible on mobile or tablets as well, so it's always at your reach. To sign up today and become a part of this educational community of traders, just visit the front page of TFNN.com. Alright folks, yes, so over the break I wanted to show you this again since Intel was saying they need a little bit more from the German government in order to do their manufacturing over there. This is, you know, this is what Intel has been doing. The share price is re-based in dollar terms. I mean, nobody is interested in it. You have this massive, I mean, this absolute monster of AMD, even to videos, Kekinom, TSMC, the, you know, kind of a similar at least movements, right? Like structure, but just way higher, just meat-wise. So that's, you know, we'll see what they do. They should probably really go with what Germany is doing and figure out something along the way there. Alright, so the banks. The banks, the banks. Interesting reports. So JP Morgan Chase reported a profit of 2.6 billion, a rise year-over-year from 8.3 billion. Well, as far as net income total close to 5 billion, a rise year-over-year from 3.78 billion. Citigroup, very interesting. Net income is 4.6 billion, a rise year-over-year from 4.3 billion. And then PNC, net income of 1.68 billion. And that's up from 1.4 billion. Super interesting. Let's look at JPM. Quickly, massive volume on the up there. Wells Fargo, just a little bit up as well. They have their own issues in the general sense. And then Bank of America up quite nicely. Let's take a look at Citi here as well. Huge bump up. A little bit more reminiscent of what JPM did. This is interesting for a lot of reasons, okay? And so what I'll say is these guys are making good money based on the loans that they had, right? And increasing rates and what not. Citibank is kind of in an interesting position because what they said forecast wise is they do expect clients to actually fall behind on payments in the coming quarter. And they say that the credit card delinquencies are rising, but they are below pre-pandemic levels. So, we're looking at this in the whole situation and in the geist of CPI and really inflation in general. And one of the things that Powell said is they might not have to raise rates and this is a few, this is about a month ago might not have to raise rates if the bank's kind of real in credit, okay? Right now it looks like they're probably not going to do that, but with what Citibank is saying about expect more clients to fall behind on payments and credit card delinquencies rising that might just restricted on a business level, right? So, again it's hard to say what is going to happen. But one of the things that was interesting is Federal Reserve Governor Christopher Walder. What he brought up was that we are still way, way, way above that 2% mark. I mean, we're at 5% from last CPI. So these rates, at least the levels they are currently are going to stick. But let me read you a little bit of what he said because it is interesting. He said important measures of underlying inflation have, quote, basically moved sideways with no apparent downward movement. We were talking about that yesterday at this hour. Walder said in remarks economic output and employment are continuing to grow at a solid pace while inflation remains much too high. Then he said that investors should not expect rates to fall anytime soon. He goes monetary policy will need to remain tight for a substantial period of time and longer than markets anticipate. You know, that's I mean, that's certainly a powerful statement, right? Another thing that's interesting is just how much better these larger cap, these larger capitalized I suppose banks are doing than the other ones, right? Your regional banks. And so obviously there's a lot of capital outflow into money market funds. But even from the regional perspective or if you're sticking in the bank perspective from the regionals into these larger banks as well. And so I think we're going to continue to see this going up these guys especially if the defaults aren't as bad as people initially thought they were going to be. There is I'm going to see this. This was interesting to me. So why move it in from the regionals to the larger and it's not just because of the fear or at least the fear is not just entirely unfounded. This was super interesting. This is the US banks with the most uninsured deposits. And so this is a great little graph and I want to look down here. Of course, you have the mother of all of them, Silicon Valley Bank with 93.8% totally uninsured totaling assets at 209 billion. Bank of New York, Mellon 92%. State Street Bank and Trust 91. Signature was at 89. City Bank 73. Interesting. First Republic guy here at 67. This is not to look at. I had not realized that it was this many. There's a man who has a Greek name and he's a Ford for an NBA team but he has just tons of accounts with banks that are all right at $250,000. It's pretty interesting right? Smart guy. In case anything happens, he'll always be backed on that. Won't lose any of his money. J.P. Morgan that's at just above 20 at 52% uninsured. So this is pretty nuts. In the Bank of America are largest, you know, big one 46.1 here. So you can see there actually is a real risk, at least in the era where you just had like two major bank runs and the threats of other ones of you know, there's a major threat keeping your money in these kind of banks if they're uninsured like that. It's interesting. Let me see here. Let me talk a little bit more about Citibank because they were exceptionally interesting today. So this says the, you know, higher incomes on loans share a rise. They also, their fixed income was far higher and they've been getting more money to pad anything in the event that something really bad goes on which is super interesting. Their net interest income rose 23% to 13.3 billion and then this is the interesting part. Citibank also set aside for potential loan losses. It's very good and that's up from 138 million a year earlier and that's according to the results reported Friday. Slowdown is likely to be mild and we're prepared. The CFO says they earned $1.86 per share in the first quarter beating analysts average estimates of 1.67 and they're up 2.8%. So I mean things are cooking starting the bank stocks. If the delinquencies aren't as bad and there's still some credit card debt is increasing still who's to say that there actually is going to be a reeling in of the credit that's being currently deployed. I think that's would be a hard thing to say and I do think you're going to actually see a heavier hand on the Fed if that is the case. Should be, you know, just pretty strange. It's the return of the Mac everyone. FTX thinking about resuming their exchange. I don't know who on earth would ever want to be in this at all. Let's see here. Let's do a quick overview with it. In April 12th hearing in the United States April 12th hearing in the United States bankruptcy court lawyers representing FTX firm have recovered roughly 7.3 billion in liquid assets March filing from the debtors reported the four FTX company silos had roughly 4.8 billion in scheduled assets as of November 2022 with an investigation into it. Think about resuming sometime in the second quarter of 2024. I don't know about that. That's a pretty toxic name. I bring this up because the banks did something interesting also regarding crypto guys. Stay tuned. We'll be back. We'll be back. We'll be back. 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 and stock prices get the opening call newsletter by Basil Chapman in your inbox every day. 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. This is Basil Chapman dot com educating investors biotech is booming but for how long whether you think the biotech bull has room to run or has run it course trade L. A. B. U. or L. A. B. D. Directions daily S. M. P. biotech three times bull and bear E. T. 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N. has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours the Tigers and available to all Tigers and Tigris's for just $1 for the year there's no cash or added costs when you join our community of traders sign up today and become a part of this educational community this program is brought to you by Vista Gold traded on the NYSE American and TSX under the symbol VGZ our folks we are back Eddie Odum on YouTube asked why is the VIX down today this week has been knots yet the week has been knots I mean you're right there's just not a whole lot going on with it and that is a little bit freaky I would say I you know with everything I was just saying how you have a lot of conflicting kind of things going on right now in the market and now you're getting some talk that there's going to be a recession but you're getting such strong job and wages holding and banks are so strong right now at least the bigger ones but then the same vein like what Tommy just brought up and what I was talking about yesterday you have like seven companies who are driving this market entirely if we look at a second here okay I guess you did have a little bit more volume right now like selling up and the yes many but there's just it doesn't seem like a whole lots going on and I don't know if they just don't know what necessarily to do or how to pose it if there's low volume today you know on this close it'll be it'll be interesting to see what happens especially with the VIX being so low so I don't know we'll see what happens with that why I brought up FTX in the crypto space beyond this just being insane that they're going to resume operations or thinking of it at some point is the banks have bought a lot of micro strategy give me a second which is insane micro strategy is Michael Saylor's Michael Saylor if you have a minute you can look on his Twitter I mean it's it's insane almost all it is is just these strange posts about Bitcoin very cryptic anyways this is allowing the banks to get some pretty good exposure and this chart is hold on let me put on a larger time frame this is just insane from March of last just the last March I mean look at this run up let me see if I can get a monthly I mean it's just seriously such an impressive run up this is basically the banks getting exposure to crypto especially Bitcoin in particular I think there was some strategy outlook that Bitcoin was going to outperform Ethereum you know who's to say but definitely the banks seem to be liking Bitcoin quite a bit since we're buying the Michael Saylor's company here micro strategy incorporated is an American company that provides business intelligence mobile software and cloud based services again this run up is not on it's on somewhat significant volume I don't know I would not be a buyer at this point whatsoever I think this is a little bit strange looking but it is interesting to know that this is how the banks are getting that exposure especially with Bitcoin going up near like 31,000 really really impressive and it blew when I pulled this chart up for the first time just earlier because I had not looked at this chart yet I was I laughed myself because I mean this is insane last day with volume you have is right here it hasn't even all the climb up has been on kind of low volume as well from this time last time you saw it was November 8th last year when you had a lot of issues going on in the market and you just had a big big red bar on high volume so I don't know just because the banks are buying it and it's so you know I wouldn't I wouldn't necessarily be a buyer at this point especially because it's so high off of March I mean what is this January here December look like January 5th I mean look at that I mean 141 it's at almost 350 now 335 up from 141 at the beginning of this year that's a huge climb would not recommend buying at this moment we'll see what happens with that alright some shorter news the cost to ensure U.S. debt has been rising this is pretty interesting there's all the issues going on right now in Congress about raising the debt ceiling and like a congressman today saying it's probably not that big of a deal if we just blow past it which I don't know who honestly knows with that but it is interesting to know that this is a real tangible effect in the sense that the cost to ensure the U.S. debt has been rising this is some of the wage depression we've been seeing this was an interesting article from QZ and this is for the lowest paid U.S. workers this has fallen sharply wage growth per U.S. leisure and hospitality workers is slowing in March average hourly pay for those in production and non-supervisory roles grew 5.1% year of year well below the record high of 17% so they're still growing but there's just a big big deceleration in that growth you know is that really what is going to matter on inflation when we talk about wage suppression not sure honestly and hospitality workers now make an average of $18.51 an hour 24% increase from $14.90 that's pretty stellar just some interesting short news with that again also you know I was talking yesterday on the cannabis stocks and don't be fooled by these headlines here you know this is it seems like it'd be a bullish headline retail sales to surpass 33.5 billion topping chocolate eggs and craft beer one of the things to really again not to mention how expensive the labor is and how much goes into that but also these companies just get so taxed there's so much money that moves through these companies and there's so little that comes out of it again not a big buyer in it currently but that was brought to my attention earlier and I thought that was a little bit interesting so in the realm of hydrogen someone was asking me I think it might have been Pat Stone or Peter from Park City in YouTube maybe a few weeks ago about hydrogen cells that Toyota was working on this is super interesting they've come out they've developed a new basically how you get hydrogen right for that would be used in fuel cells or just in general is mainly through electrolysis and that's going to be sending electrical currents through water and you're going to rip apart your molecules essentially and I found a more efficient way to do this and it's using basically photovoltaic cells and they're cooling these photovoltaic cells with the streams from the electrolysis it has pretty interesting so they're fueling the electrolysis from it and it's then cooling what is fueling the electrolysis pretty interesting but what was also brought to my attention in this same realm is this introduction of synthetic petroleum that Porsche has been doing it's super cool it's very energy dense and having that in between from you know the fossil fuels that we use now into a world where EV is the dominant source of power for cars I found this really interesting and of course it's a recipe from German scientists in the 1920s of course it is it's called synth gas and it's like a mix of methane and carbon dioxide it makes a super dense there's a lot of potential energy in it and so Porsche is going to start creating more and more of it and it says the e-fuels can act like gasoline allowing vehicle owners a more environmentally friendly way to drive doing this in Chile e-fuels are a type of synthetic methanol produced by a complex process using water, hydrogen and carbon dioxide excuse me methanol not methane companies say they enable the nearly CO2 neutral operation of gas powered engines very interesting vehicles will still need to use oil to lubricate the engine alright not a super big deal especially when you're talking about lower CO2 emissions the Chilean plant was initially announced with Porsche in late 2020 would invest 24 million into development folks stay tuned we'll be right back we'll talk a little bit more on that in some interesting developments in cancer research 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 found a 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 markets 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 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 for 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 get the opening call newsletter by Basil Chapman in your inbox every day first time subscribers also get a 30 day money 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 everything in the universe is governed by the Fibonacci sequence this mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market to stay on top of stock patterns you can take advantage of sign up for the Fibonacci 24-7 newsletter at TFNN.com when you subscribe you'll get a weekly report from veteran day trader Larry Pezzavento on stocks you need to pay attention to and you can trust Larry's analysis after all he's got 45 years experience as a day trader Larry will also provide daily charts videos and data on the key markets that he's tracking expect notifications from Larry on market movement you need to act on at any time 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 subscribe to the Fibonacci 24-7 newsletter today TFNN.com educating investors don't forget you can listen to TFNN live on your mobile device 24 hours per day go to TFNN.com then hit watch Tiger TV that's TFNN.com then hit watch Tiger TV alright so this is some super cool news this comes from some guys at Stanford this is an MIT technology report but this is using modified microbes to basically chew through cancer cells they've done it in mice they're about to do it in humans the team started the investigation by choosing a microbe that is commonly found on human skin and that is S. epidermidis and it's thought to be a member of the human microbiome and it doesn't typically cause disease as the microbes the researchers used were originally collected from behind a human ear the researchers modified these microbes by inserting a new gene into them the gene code for a protein that sits on the surface of some cancer cells interesting the idea is that if the immune system generates cells that recognize the microbe these cells will also recognize tumors the team then applied these quote designer bugs to mice by wiping them over the heads of the animals with cotton bud another group of mice had the regular unmodified samples of bacteria smeared onto them in both cases the microbes quickly made a home for themselves on the mice's skin that's a nice thing to think about isn't it over the following days and weeks these cancer cells grew into tumors and the mice have been given that had been given the regular microbe but the progression of the cancer was significantly slowed in mice that have been given the engineered microbe you could see these huge tumors growing on the side of the mice that had been swad with normal bacteria but you couldn't see anything in the mice that had been given the modified microbes he points out that this particular type of cancer is notoriously aggressive and more difficult to treat in mice so this is pretty awesome now I'm not super big into any of these kind of biotech stocks or anything and this obviously isn't this is just in university research currently but what a big development and if this does the same in humans we could see some pretty interesting stuff just to quickly wrap up the day something that was interesting is a Birkin bag maker which is Hermes sees no US these are designer bags no US slowdown and sales jumped 23% for the first quarter that is pretty insane especially since we just saw with the consumer sentiment that people on the higher end of the income kind of scale are kind of decreasing their consumer sentiments it's interesting to see what will happen in quarter two folks have a lovely weekend I will see you Monday