Good afternoon everybody, you're all very welcome to the Institute of International European Affairs for this very timely presentation from Luigi Scazzieri, who I'll introduce just now. Just to remind you that the event this afternoon is on the record, the Q&A there after will be under the Chatham House Rule. Please also extinguish your mobile phones as they say, I put them on the side of my mind and we will just quickly introduce Luigi if I may. So Luigi is a research fellow at the Center for European Reform. He works on European foreign and security policy focusing on policy towards the Middle East, Russia and transatlantic relations. He has conducted research at the Center for European Policy Studies, Johns Hopkins School of Advanced International Studies and the International Institute for Strategic Studies. He holds an MA from the University of Cambridge, an MSc from the London School of Economics and Political Science and an MA from Kings College, London and is the author of several publications for CER and you are active and a frequent media commentator in affairs. So we are very interested in the outcome of the Italian election, what it means for Italy, what the potential scenarios might be in terms of government formation and what the wider implications will be for Europe and with that Luigi I'll hand over to you. Thank you. Thank you very much for your kind introduction. It's a pleasure to be here at the IIEA today. My remarks are structured in two parts. First, I want to talk about what happened in the election and how we can understand that result and secondly, analyze what the implications are for Italy's European policy and for its role in the European Union. So here, just to illustrate what happened, we have a map of the election results with the results in each first past the post constituency. In the election, there was a new electoral system where a third of the seats were distributed by a first past the post and two thirds by a proportional representation. The center left coalition in red got around 23% of the vote. The center right in blue 37%. The center right being made up of Silvio Berrosconi's Forza Italia, the northern, the league and the couple of smaller parties two. And finally 32% for the five star movement in yellow, the five star movement being above all an anti-establishment. And I'd like to make several points about this result. First of all, the center left's result represents really a collapse. It performed poorly across Italy, including in its former electoral heartlands of Emilia Romagna and Tuscany. And there are two key reasons for this poor performance. They are Italy's economy and the migration crisis. So between 2008 and 2013, Italy's economy shrank by around 10%. It has since returned to growth. We've seen growth of around 1.5% in 2017. But the economy remains smaller than its pre-crisis peak. In fact, around 6% smaller. Unemployment is still around 11%. And in the crucial 25 to 34 age bracket, it's 17%. In the south, there's a feeling of hopelessness. And in the north, there's a perception of decline. And the EU is widely blamed for this economic performance in recent years because of its emphasis on fiscal discipline, including the 3% budget deficit limit. Likewise, the Democratic Party's management of the economy is also perceived as ineffective, even though it did actually preside over some growth. And it pushed at the limits of what was possible in terms of easing the fiscal stability, the fiscal limits at the Eurozone level. The second key issue, as I mentioned, was the migration crisis. Italy has seen over 600,000 arrivals over the past four years. Now, this is a mixed flow, comprising both people who are likely to be accepted whose applications as asylum seekers are likely to be accepted and people who are not likely to do so. Again, they use role in the migration crisis as seen as negative. France and Austria on several occasions closed down at the border with Italy. And the EU did try to help in some ways, for instance, by setting up hotspots in South Italy to help process migrants and by setting up a relocation scheme, which was supposed to ease the burden from Italy and Greece. Now, it's important to note that, however, the relocation scheme only covered nationalities that have a 75% or above acceptance rate as asylum seekers at the European level, meaning that they are effectively limited to Syrians and Iraqis. None of these nationalities are particularly represented in those arriving in Italy. As a result, less than 12,000 people relocated out of the 600,000 that have arrived. And the government's handling of the migration crisis is also widely seen by bisexual population as incompetent, even though it was able to reduce flows over the past year from about 180,000 in 2016 to 120,000 in 2017. Thanks to a set of highly controversial deals with Libya, both with the UN-recognised Libyan government in Tripoli and with a series of Libyan militias and tribes in Libya's south, the problem is that these achievements simply didn't filter through into the public debate. It was a matter of too little and too late. There were, of course, other factors in the poor performance of the of the centre-left, one of them being the divisive nature of Renzi's leadership. He essentially led to splits within the party, as a result of which a splinter party ran in the election taking some votes from the centre-left coalition. And secondly, the electoral system, which was new, as I mentioned, facilitated coalitions and now this allowed the centre-right to stick together despite its its wide internal differences. The second observation that I want to make is that the centre-right's performance was actually rather strong. It took over most of the north, including some of the left's traditional strongholds. There are several reasons for this. First of all, the League within the centre-right performed more strongly than Forza Italia. The League was able to secure around 18% of the vote compared to less than 15% for the Liscone's party. And of course this reflects some changes that the League has undergone in recent years. It used to be called the Northern League and to advocate Northern succession from Italy. But it's now dropped Northern from its symbol and become a nationalist party, making immigration, economic nationalism and opposition to EU overreach as its key issues. And its slogan in the election was Italy first. Of course this allowed it to win the support of many disaffected voters. But it's also simplistic to paint the League in quite the same vein as a party like the Front National. The League has been a party of government in Italy. It was in the Liscone's governments in the 90s and 2000s. And it also governed some of Italy's richest regions such as Lombardy and Veneto. So this means that it's able to pick up both disaffected voters and more mainstream ones, especially in the north where it has essentially replaced Forza Italia as a conservative party. At the same time however the presence of Forza Italia in the coalition allowed the centre-right to win seats, to win a share of votes in the south of the country. This isn't quite reflected in the map, which of course only represents the first past the post-consituencies, but actually they had above 20% of the vote throughout the south. Now the centre-right was able to perform so well because it was able to capitalise on the two issues that are most key to Italians. Namely it ran on a platform of tax cuts, increased social spending and the abolition of a controversial 2011 pension reform and of toughness towards immigration. Finally it also benefited from a broader disillusionment of Italians with the European Union. The number of Italians saying that membership of the EU is good for Italy and that it has benefited Italy according to a survey done by the European Parliament now stands at 39%, which is actually the lowest number in the whole EU and that includes the UK. And only a third say that Italy's voice counts in the European Union. So essentially I would argue there's a widespread feeling that the way the EU is being run, especially in relation to eurozone governance and to the migration crisis, is not beneficial to Italy. The third remarkable element about the selection was the very strong performance of the five-star movement. As you can see it was able to take virtually every single first past the post-consituency in the south of Italy and in the islands. Of course this doesn't mean that its vote share in other areas of the country was negligible, indeed it was around 30% in other areas too. I've got a slide here with who the five-stars voters are based on sampling done after the election and I just want to say a couple of things really. First of all it is true that the five-star is the largest party amongst the unemployed, but it's not quite correct to portray it as the party of the unemployed. So its vote share is not too different amongst professionals and the unemployed and indeed it's another remarkable element is that the democratic party is only the largest party amongst retired. And likewise a similar point here by education, its five-star is not only the party of those with a lower level of education but indeed it scores around 30% amongst the university educators, amongst those with a second year education too. So it's the single largest Italian party in pretty much every demographic. The strong performance is in part due to the same factors that propel the centre right, it's not in government, it was sharply critical of the democratic party's record on migration and it proposed a series of tax cuts and handouts and increase in unemployment benefits which of course were vote winners. Perhaps most of all however the five-star benefited from still being able to present itself as not one of the established parties. Despite the fact that it has ruled cities like Rome and Turin for a few years now with a rather patchy record it's still able to present as a party that has a strong focus on anti-corruption and on transparency. It's important to note that the five-star has moderated its anti-European stance. The party used to be rather anti-EU in past years and to call for Italy's exit from the Eurozone. During the campaign this stance altered it now no longer calls for exit from the European Union. Party leader Luigi DiMaggio defined the party as pro-European. He stated he would abide by the 3% budget deficit limit rule. Last year as we know the five-star tried to join unsuccessfully the liberal group in the European Parliament. They have expressed support for things such as transactional lists at the European level and indeed their voting record in the EP is mostly with the United European Left Group. So in essence this is a soft Eurosceptic party. Perhaps one which is not Europhile but one which I don't think would be fair to simply put in the Eurosceptic box. It's not against the EU per se but rather against the way it is currently being run. This brings us to the current situation in Parliament that there is no straightforward majority in Green, the League in blue, the Forza Italia in yellow, the five-star in red, the centre left. So first there's a couple of procedural steps before we get to the coalition building which characterises Italian politics namely that the parliament has to elect the President of the Chamber of Deputies and of the Senate and this election will reveal whether there are cross-cutting convergences between different parties and will be a testing bed for coalition talks after. Following these steps which will take place near the end of this month President of the Republic Matarella will start consultations with parliamentary groups and will give a mandate to form a government to the leader of the League, Mattel Salvini probably or to Luigi DiMario or potentially to another figure. In terms of what arrangements are possible well it's clear that the moderate coalition as many hopeful before the vote of Forza Italia and the Democratic Party simply doesn't have the numbers. It's possible that the right-wing coalition may be able to poach a few MPs from other parties in the course of the coming months. It's also possible that the five-star and the northern League will form an alliance as is an alliance between the five-star and the centre left and if all these options fail the Italy's president could try to form a government of national unity made up of non-politicians with support from across the political spectrum which would aim to ferry the country to new elections essentially and I'd now like to focus on which of these each of these options would mean for Italy and for the European Union. So if we have a presidential government of national unity or a centrist government after new elections though the latter looks rather unlikely Italy would more or less continue on its current path. Such a government would try to stimulate the economy it would continue its gradual reform efforts possibly implement a series of tax cuts and increase in benefits for low earners and ask the EU more flexibility especially on spending relating to investment although of course it's unclear how much leeway it could obtain. It would be supportive of swiftly completing a banking union and more in general of Franco-German ideas to reform the eurozone although again it might not be trusted as the combination of Forza Italia the combination in general could be perceived as unnatural but I think in general the possibility of an ambitious eurozone reform should not be overplayed at this stage there's a lot of difference between the French and the German positions and the Italian position is different yet and yes the other the other day we saw Mark Critter come out with a series of of objections or what seemed like throwing cold water upon Franco-German plans essentially with a focus on budget discipline and the national dimension of reform. A centrist government would also ask the EU for more solidarity on migration and push for a reform of the of the Dublin regulation in the sense that the country of arrival should no longer be considered the country where applications have to be processed which could also push for a reiteration and expansion of the relocation mechanism in the sense that it should cover a wider range of nationalities than it did. It could be more supportive of other items on the European agenda such as more conditionality in the use of structural funds and further integration in European defence through permanent structured cooperation and in foreign policy it would continue to push for increasing new engagement in the Mediterranean and although the presence of Forza Italia and other slightly more pro-Russian parties could of course mean that it really takes a soft distance towards Russia. So such a government and I think if it's a presidential government would be essentially a bystander in Europe because it wouldn't have the political mandate to participate fully in either in many new initiatives. On the other hand a centrist coalition could be an important player but as I said this prospect seems remote which brings me to the prospect of right-wing government. Now the right-wing government would probably be led by a figure from within the Northern League although this wouldn't necessarily be Mattel Salvini if there is a need for broader convergences with other parties someone else from the League perhaps a more moderate figure could step up. Now it's clear that such a government would adopt a more strident tone towards the European Union. It could be a spoiler but I think it's more likely that it would be more of a drag. It wouldn't try to leave the EU or the Europe of course and its priorities would be boosting the economy and tackling migration. So in terms of boosting the economy some of its promises included a flat tax the abolition of the controversial pension reform and an increase in social spending. Now to do this it of course could be tempted to flout the EU's three percent rule. Now we know what would happen in that case and essentially international debt markets would lose confidence in Italy's ability to finance its debt interest rates would rise and the government would presumably have to step back from many of these plans. So in essence I would argue there's a sort of self-regulating mechanism at play which doesn't necessarily kick in immediately it's still possible to cause damage but eventually it does prevent too much fiscal or irresponsibly irresponsible fiscal loosening. Arriving government would probably oppose many of the proposed reforms to the Eurozone partly because it would see them as interfering in national economic governance but also such a government would not be perceived as a partner by the European Union it simply wouldn't be trusted with the moderate elements namely for Italy are simply not having enough weight. On migration it would be more forceful in calling for EU solidarity and for a reform of Dublin although I'm not sure with what effect what it would do is take more unilateral action we would expect to see more deals with countries of origin and transit and in general an emphasis on increasing readmission rates. In terms of foreign policy I think such a government would could be quite disruptive it would have it would push for a more Russia friendly foreign policy so both the League and the Forza Italia especially the League are very friendly towards Russia with this means in practice I think is that any action to toughen sanctions or to impose new sanctions on Russia would be would be off the table it's far less likely that it would attempt to roll back existing sanctions however simply because this would be so costly in terms of political capital and it would rather use this political capital in achieving in securing further fiscal leeway. Arriving government would also have implications for other issues on the European agenda I think plans for conditionality using structural funds would be off the table integration and defence would also be harder again because of the focus on national sovereignty even though again I think it's important not to overemphasize how the plans currently on the table and I think it's important not to overemphasize their transformational potential these are small steps and finally there's a possibility of a government with with participation of the five-star movement now as I mentioned an option is a government with the league and the five-star and I'm not too convinced that they can work together this time round simply because it's unclear to me why the league would agree to play a subordinate role to the five-star movement when leadership of the centre right as a whole seems within reach their priorities again would be securing more more fiscal leeway boosting the economy and reducing migration again I think many of these promises would be unlikely to materialize but still it's clear that such a government would be perceived as most disruptive by its European partners and by international markets eurozone reform would be very difficult both because of the completely incompatible views and because of the limited international credibility of such a government in terms of foreign policy we'd expect to see a similar impact to that of the right wing government and the league and the five-star are both friendly towards Russia that there would be a slight twist in the sense of the five-star movement has a very strong pacifist streak so I think a possibility would be that Italy cuts back its contributions to some of the international NATO or peacekeeping missions such as its contribution to improving security in Afghanistan but it's interesting to note that actually the five-star and the league have a rather different positions on a set of international issues so for instance the league on the Middle East peace process usually takes a provisional stance whereas the five-star takes a pro-Palestine stance and again initiatives to boost European defence cooperation would be off the table but I do think a likelier option than the government led by the five-star and the league would be either a five-star government on its own perhaps in the near future or a coalition between the five-star and the democratic party and of course depending on whether the democratic party is included in a coalition with the five-star this could mean that such a government could play a more constructive role at the European level now this could mean some progress on banking union more limited friction in foreign policy perhaps some support for conditionality in the use of structural funds so if the democratic party is included there is a possibility that such a government would not be too different from a status quo government but of course the key issue is that so many of the five-stars position or many key issues remain unknown they have been in government but only at the local level and simply haven't had to flesh out positions on a range of international issues and have limited themselves to saying fairly to putting forward fairly uncontroversial policy proposals really so in essence what I want to convey is that any Italian government that emerges will have two priorities securing really trying to boost growth meaning that people would then feel more positive about their future and trying to better control migration a right-wing government would have the potential to be a spoiler although as I said it would be more likely to be a drag one with the five-star movement would have the potential especially if the democratic party is included to be more constructive and of course a coalition between the five-star and the lead would be rather disruptive but I'd like to emphasize here that Italy is a parliamentary democracy where actually the government of the day has a relatively limited power of course this makes transformational reform and for instance economic structural reform much harder but it also means that in times of difficulty any policy shifts tend to be constrained and they will also be constrained by Italy's embeddedness in the European Union and in NATO so on the whole I would say the lightest scenario would be that Italy will be an impediment will add to the series of difficulties in many of the issues on the European agenda but it won't be it will not be a spoiler at least actively the real challenges I think lie in the medium term Italy's economy remains fragile and even according to the government's rather optimistic predictions public debt in 2020 will remain above 130 percent with unemployment still around 10 percent population is aging and Italy is becoming a much less enthusiastic member of the European Union any government may be able to provide the economy with some oxygen but it will be unable it won't have the political capital to implement the serious structural reform that that Italy needs so two factors really are going to shape Italian politics in the coming years the first is the stance of the five-star movement there's a key question over whether the five-star movement will further moderate itself and become a somewhat critical and soft you're a skeptic party of government or whether it will veer back towards some of its former positions and become much more virulent you're a skeptic and a key test in this regard will be where they stand in the European elections of 2019 in which as part of which political family will they stand and the second key variable in determining the course of Italian politics is EU policy I'm quite skeptical about the prospect of a major euro the eurozone reform at this stage but there is a possibility that of course the EU will allow a degree of fiscal loosening even though reform of the eurozone is minimal which would allow people to again feel as if Italy's economy is truly recovering and the second key variable is whether the EU does more to help Italy on migration now if it does neither of these things then I think Italians are going to become more and more disillusioned with the European Union in coming years and if there's another major economic shock at any stage in the future years then Italian politics will veer almost inevitably I think towards your skepticism and at that stage I think something that currently seems so remote such as Italy leaving the eurozone or even the EU could start to become more of a possibility thank you


Section seven, two-way action. Crosby Arrington squaring off with Fracter early on rails. Go with the long ball. Freshman Morgan Nyland knocks down the triple. Rail start, I'm an 8-0 run. Rangers respond. Kylie Monson with room to run. She goes around and in for the layup. Then here's Fracter from downtown. Again, another freshman. This time it's Sam Pagachnik. She had 22, but again, Rangers respond. Look down low, Cheyenne Loyalyn finds Jamie Nelson underneath the bucket for two. Crosby Arrington edges Proctor 48 to 46. If you've enjoyed this segment of Lakeland News, please consider making a tax deductible contribution to Lakeland Public Television.


as 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 Alan Homasa. Hey, Al, what's going on? Isn't it wonderful? This gentleman here with the gold report right before the market fell apart ended up with PAAF. We had a 98% gain in the year. And I mean, we weren't 99% proof like Irish whiskey, but we had a good gain there. You always told us to do what we feel comfortable with. And if I lose a little bit of money on a table, I will, but I know that I just pocketed $8,000 or $9,000 in two weeks. That's a beautiful thing, man. Now, Tom O'Brien. Folks, this is Tom O'Brien of TFNN. We have five days a week. We go seven hours a day. We go 24 hours a day in the internet.  Everyone's having a great day, safe day. Let's make it a great night, folks. Don't make assumptions. Ask for what you want. Find the courage to ask for what you want. Others have the right to tell you yes or no, but you always have the right to ask. Likewise, everyone has the right to ask you for what they want, and you have the right to say yes or no. Mockin' wise, let's take a look at it out here. We have the Dow Industrial's down 386. Nasdaq's off 78. S&P's are down 38. Gold, gold contract up $1.60, trading at a price point of $17.2250. We have Silver up 15 cents, $20.70 an ounce. Light sweet crude up 72 cents, $88.49 a barrel. Notes and bonds, a 10-year note. Down 17 ticks, trading at a price point of 111.31. The 30 are down 15 at 126.10. You get the 10-year right now yielding 3.82, folks. The high's been 3.94, so this thing's going topside once again, and Kingdala. Kingdala's going topside also. Kingdala is up 1,052 ticks, trading at a price point of 112.261. The euro's at 97. The yen's at 145, and the British pound is at 111 to one US dollar. Our phone number's<PHONE_NUMBER>. Give us a call, folks. One note's going on in your world. In the world of the S&P's, let's take a look at it. Well, what we have out here, which I said in the update, is that you have the spy actually weaker than the X100 today. So bottom line, you're gonna have a failure on price and volume, jobs numbers coming out tomorrow. We're in an ABC structure down, it's a different seed point now, but the bottom line is that this thing's going right after it's low, man. So we're at 373, if we look back on Tuesday, you had done 103 million shares. Yesterday we did 88, didn't hold the high. We'll see whether it can get to 88 today. It's gonna be close, you could get to 88, but I suspect you're not gonna hold highs. Well, we're down $3.90 right now. If we go to the NDX, you'll see that the NDX is a little bit stronger. Well here, I'm gonna go back to the futures. Let's go back to, because you can see it in the E-mini futures, that's what's going on. So if we take a look at the E-minis, what you're gonna see here, bang, bull is out. You know, the benchmark here was the low that was established to smarten to 1030. You can see that low, that's 3758. Well, we broke it, and we broke it in the E-minis, and that's a high volume low, so it's gonna go back to 3750, we're at 57 right now. We can see the close coming right into actually two days ago, so we'll see how this shakes out, but keep your eye on that, meaning the 3765, well, 1030 in the morning, and I'll share with the difference, this is where you're gonna see it. We bring up the NQs. The NQs are trying to break it, that's what they're doing right now. They've come down there a few times, having to have enough juice to break it. You know, we take a look at it, you can see right here, we're talking about that low has 20,000 contracts. The last time we came down, you came down with only 12.9. Now that being said, what has happened is this, this has been happening all day. It doesn't have enough to blow this out at this particular point. This is building cause, we've had 20 minutes of cause right now and we'll see what happens coming into the close, because what you can see is every one of these downdrafts, that's where the, you know, it spikers up a little, not a lot. It's not a lot, you know, but I suspect because, then this one gets cool folks, because the spy and the SMPs and E-minis already broke it, your probability goes much higher that the NDX is going to break it also. You know, that's just how it moves, man. Particularly because of the, the NDX has been continually much weaker.  When you see the anomaly, bottom line, that's all it is an anomaly. And when it comes in, bang. I mean, it's going to hit when it comes in. We go to the gold contract. We look at the gold contract, and we have a gold out here. Gold hit a low out here today of, all right, yeah. We hit a low of 17-14. You're at 17-21.  This is particularly acting good because of the dollar, you know, we'll see what it can hang. It's hanging here right now. Notes and bonds, we take a look at the note and bond market and the bottom line, they also want lower price. You know, this is going to be pretty intriguing. Watching this whole thing shake out. You can see the 10-year, if you want to see his sell, look at that spike, man, 10 minutes ago. 60,000 contracts is going into the swing low of 25,000. You get a monster seller right there. This, yeah, it's a monster seller. If we go back into the dollar, we take a look at the dollar, the way the dollar is set up is that, you know, what you just did out here today, you're showing today once again, you know, let me just pull this. You know, we came down hard in the dollar. You bounced around yesterday, but today, again, you broke the downtrend right from the high. From the 114.78, you know, so the bottom line is that, this one here is about a 7.8 B, which is going to get you into the 117.18. And then if you do take a look at it, you got to remember, there's only one swing point, well, there's two swing points left. There's one at 121, if we ever goes to the other one, it'd be insane. So there's the one at 121, there's nothing in between it. So I suspect more than likely what we're gonna see is that you're gonna probably get an ABC up, you know, well, first off, we'll see what happens at the high. The bottom line, if you run into that high, if you do have a wide price spread coming up to that high, that's saying, guess what? That thing's going to 121.  And if you want to see, this is here, you know, let me show you this because what is happening now is that when none of us were really around, well, some of us might have been around, Larry was around probably, for sure, but I'm gonna bring this back 50 years and look at this spike. That was the spike in, we were around, but it wasn't 164 and the dollar, well, yeah, and I was around in 1985. I just don't remember that, that's the bottom line. You know, I can't picture it hitting there, but hey, you never know, man. I mean, it really depends on how you come into 121. That's how this thing is being set up right now. Our phone number's<PHONE_NUMBER>. We have the Dow.  Stay right there, folks, we'll be coming right back. Inflation, we are purchasing powers eroded. There's no better place to protect your harder and money than in gold. This, the gold's flagship asset is the Monk Todd Gold Project in the Northern Territory of Australia. This is Australia's largest undeveloped gold project. We are talking a world-class gold project in a tail-one mining district. This is a large-scale, low-cost project with significant existing infrastructure in a politically safe and friendly mining jurisdiction. This, the gold just completed the Monk Todd Feasibility Study, which resulted in a 7 million-ounce gold reserve and a 16-year mine life. All of this combined with the approvals of all major operational, as well as environmental permits. This distinguishes Monk Todd as an attractive, devious pot, ready-development stage gold project. This, the gold trades on the New York Stock Exchange under the symbol VGZ. Are you looking for a way to consistently add winning trades to your portfolio? Tom O'Brien is here to help. Tom O'Brien has been successfully trading markets for over 30 years. A frequent contributor to TD Ameritrade Network and CNBC, Tom O'Brien founded TFNN over 20 years ago to help educate investors just like you. Tom's Daily Market Newsletter, Market Insights, is published every morning when the market's open. To give you the competitive informational edge you need to succeed, these newsletters are packed full of Tom's advanced technical analysis and are geared to deliver comprehensive strategies for a successful portfolio. Get Tom O'Brien's newsletter, Market Insights today, and try all of our products and newsletters 30 days risk-free with our money-back guarantee at TFNN.com. TFNN, educating investors. 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. Toll free at 1-877-927-6648, internationally at<PHONE_NUMBER>. Welcome back folks to Dow. Dow industrial is up 377, Nasdaq's down 72, S&P's up 37. So let's go percentage-wise out here. So what we have happening, it seems like a flat market can be the volatility we had, but percentage-wise out here the Dow has taken the hit. The Dow's down 1.2% now and Nasdaq is only down 6-tenths. The S&P's are off 0.98. And if we get into, let's go into the Dow industrials first and take a look at the strength versus the weakness inside here. Point-wise, this is what we have out here. Putting positive points, look at this. The only thing that's trying to hold the Dow up is Chevron. Chevron's putting 18 positive points, Caterpola III. Taken away from it. United Health, minus 57, Goldman 31, Big Mac 27, 25. All the kind of small numbers going across. NDX100, the strength versus the weakness inside the NDX100, we take a look at that. The strength is Doxcom, that's up 2.2%. Dexucom, Rella. Netflix 1.6, Zscaler 1.6. Taken away from it. Splunk, down 5%.  And XL, energy down 3.4. What's going on with XL, energy? This is happening. So you get XL, energy, the lowest 61, the high 77. That was established the 12th of September. Wow, let me look at this. The energy going higher, what the heck does this do? Okay, this electric natural gas services company, also a variety of services, including generation, transmission, distribution of electricity and natural gas to the United States, man. This is, you know, from being an energy stock, this thing's getting toasted, man. Look at this. Something else is going on. They must, they're either buying too high and it exploded on them, something's going on there. This is just, that's just, yeah. Some of the higher volume equities out here, let's go take a look. I don't believe we're gonna have volume out here either. Yeah, we're not. So you get 540 million right now in the NYSE and the composite, we're dealing with 3.3. Now you get 4.2 or something. Some of the higher volume equities in this market that we have right now, let's go put a second. Go like this. Okay. This is what we have. Well, what is this? Come on, here we go. Okay, so we have Apple down one. We have Tesla off a buck 40. Exxon's up 249. That's going after that high. It's taking out the swing today and has volume on the swing. Alphabet's up 23 cents. Let's go take a look at the oil market. So the oil market's getting a lot of action. There's no doubt about that. Bottom line, OPEC is cutting back. You know, that being said, man, this is not a strong chart for the oil market. Let's pull this up. Going after this, the 89, 65, 63 is the swing.  Yeah, listen, I suspect it's gonna, it'll get to the swing. But this is not pushing in to the swing like it should be. Now I'll show you, like when you go to Exxon Mobile, you know, this is pushing into the swing how you want it to push into the swing. Take a look at this, you know, you got the swing point here, has 23 million shares and you've already done 23.4. You know, the high that if you're into Exxon, right, what you gotta keep your eye on is this, is that the swing high is 105, 57. And if that's what you get out of this, this is gonna be like 100% move or move because if we take this, let me just do it this way. I'm gonna put it on this one right here. Put it on this one. Because what you can see is that the, you started this run at $83 and right now you're dealing with 101. That is a monster, monster move. And, you know, bottom line is that I can see by looking at some of these numbers, we were looking at this yesterday, you can see why something can move like that because the differential, like Exxon, we took in 285 billion last year. They're looking to take in 404 billion this year. I mean, it's pretty amazing, you know, what high oil prices actually give you, right? I mean, that's how this thing is set up right now. That's the bottom line. We go to the GDX, we take a look at the GDX inside the gold equities out here. We might have a small ABC up. This is gonna be interesting seeing how this shakes out because what we do have is this, is that we come off the lows with volume, we pull back yesterday with light volume, and if we do have an ABC up, the B point on this is $26.11. You're gonna need 34 million shares traded. It's 26.  What's the swing here? Swing there's 27. Next one's 32, right there, 29. Yeah, that'd be a nice setup, man. That's the setup, what you're gonna end up seeing now, if this is the setup, it's gonna be really wild. This is pure speculation because the chat's not made yet. But if that's the setup, wanna see something wild here, let's do this, I'll show you what this is like. I do this, I put it much longer one, pull this back a bit. What you can be seeing is, this will drive all of us crazy too, but I've said before, if you speculate on head and shoulders tops and bottoms, you can see them all day long, but that's exactly what I'm looking at right now because we can see this as a kind of cool head, and we'll see if it shakes out, but if that's what you get, then you're gonna get some true action. I think that the dollar is the number here, folks. The dollar, number one is a problem for, well, it's not a problem, it's a problem for the marketplace, for our own buying power, it's great that the dollar is strong, that's the bottom line. When you see some of these currencies and how they got cut, literally about 30, 40% many of them got cut, so it's pretty insane. Let's go take a look at the XLE for a couple of the Tigers and Tagresses out here. This is inside the energy business. XLE, bottom line, especially when you have, when you have ExxonMobil and Chevron, that is I believe over 50% of the XLE inside the holdings. 22, no, that's 40, 43, 43%. So that's always cool when you have both Exxon as well as Chevron. Chevron's got a bid to. So if you take a look at the XLE, if you're riding this XLE, you're gonna be looking at the same swing point. Well, the swing point up here that I suspect it's gonna go for, let's see, so we got 82.97. Yeah, that's all right, 20, we're going into 20 million, you're already done 22. So that's saying that what's game here for the XLE is up at that 85 area. That's how that is basically set up right now, which is, you know, what is intriguing is that evidently we must be at a price in oil that these oil companies can just make a fortune, right? So we're at $88, I don't know if that's a sweet spot, you know, of course, when it's higher, they're gonna make more, but you can see that investors are pushing the oil stocks and, you know, the oil price itself really hasn't done much. So there folks who come right back, we have the Dow, Dow industrial is right now down 296, Nasdaq's up 48, S&P's down 28 we'll come right back. If you want to take advantage of this sector, now is the time to subscribe to my gold report. The gold report is a comprehensive look at the metal sector as well as the markets that move gold, which is the currency and bond markets. New subscribers get a 30 day money back guarantee, so you have nothing to lose. 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The Art of Timing the Trade Charts is designed to help you when scouring the markets for stocks just beginning to form the trading patterns that many investors spend days, weeks, or even months searching to find. And right now, we're offering licenses available at only $79 a month. We are so confident that you're gonna 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 today by visiting TFNN.com. This segment is brought to you by Think or Swim. For more information, just click the Think or Swim banner on the front page of TFNN.com. Welcome back, folks, to Dow. Dow Industries right now, down to 280 Nasdaq Zaf42, SMPs are up 26. If we go to, this is Chaneira Partners, I believe. Oh, hold on, hold on, one second, I just lose that? No, one second, sorry. I do that. I will come back to that. I'm gonna, we're gonna go over to the pot stocks. So this is what just happened, folks. You have all the pot stocks are flying. You can see, Canopy just went from a price point of they all exploded, there's 292 to 373. So what just happened is that Biden just bottom line came out literally to, there it is. He's having a review done on the federal level of folks that have got busted with pot prior federal offenses and he's reviewing all the pot laws. So the bottom line, maybe they'll basically come to their common senses and take pot off the schedule one, like it's heroin or cocaine. Let's see what it has to say. So shares of Canopy's companies rallied Thursday after President Biden said he would pride in federal offenders for a simple pot possession. He also asked the review on the marijuana's current status as a schedule one controlled substance under the US law, US Canopy companies listed on the OTC as well as Cano.  They're all jumping, that's the bottom line. And that would be, the thing is it's amazing bureaucracies folks, well you know what's amazing? This is what's really crazy to me, right? So picture this, I want all of us to fast forward. We're not gonna be here, man, but fast forward like to another 100 or 200 years. And what happens folks is this, is that all these laws that have been on the books are always on the books. So do you ever notice like lately in particular, they're reaching back like 150 years to try to find laws to basically, go after whoever they wanna go after, okay? So it's pretty amazing, man. And in this particular case, we'll see how long this whole schedule one thing is gonna last. It blows my mind that it's actually still out there, but it is. So we'll see how this basically shakes out. But what is it? MJ is the, that's the ETF structure I thought. Yeah, that's the ETF structure. So these all took off like a rocket ship.  I mean, MJ just went from what, $490 to $6. The problem that I see with the pot stocks in general is that it's a weed, man. I mean, you know, we can't grow it in Florida, but they can grow it in Massachusetts. And I know factually that the folks that have grown it, right, I suppose you, I think you have three plants a piece. And what happens folks is that so much pot comes off them that they don't even wanna grow it anymore, okay? So price wise, you know, they're gonna have a very hard time, you know, keeping prices where they wanna keep them. That's where it comes down to. Yeah, the tigers are saying they can easily grow it depending on what you grow it in your backyard, right?  And that's where, you know, CGC, I mean it, you know, but then it's not, not, but then, but the bottom line, they gotta make it like a Chevy's. They gotta make it like a Glen Levitt.  And it sort of comes down to it, so. Let's go over, take a look at the XAU, the HUI. So, you know, we look like, we have a little start here, the problem still is no doubt that it's gonna be the U.S. dollar. If we look at the XAU, bottom line, it's up $1.00, six right now, trading 108, you know, so the cool thing here. So, check this out, now this is the cool thing. You don't have to step into these right now because what you have is this. All of these ABCs that are set up folks inside the metals market are big ABCs. You know, if we look at the XAU, you're talking about one 10 and a quarter. Yeah, you're talking about 20.A to B, which would bring you up to 125. So, you can see, and the B point on this is one 10. So, watch how this works. Now, when you're dealing with an ABC, what ends up happening is that an ABC up has volume on the way up. Put this up so you can simultaneously see as we're doing this, okay? You have volume on the way up, you pull back with light volume, and then you have more volume on the B point as you're taking it out. And in this particular case, the B point that we're talking about, that's 35 million. So, on Tuesday we did 35 million. Yesterday we pulled back with 29, that's what you love to see. We haven't hit it, okay? So, as you hit that point, let's picture that, you know, because this is really not like buying a breakout. What the difference is, is that you have a price projection that you can have. Meaning, if it's taking the B point out, taking it out with volume, there's gonna be a lot of spread here. Because of the fact, and you don't get this a lot, that you hardly had any type of true tracements. When you don't have a type of retracement and the A to B leg is long, which is pretty cool, you know? You're talking that, we said it at 20 point, right? 20 point is at 125. So it's, yeah, I put it right at 125. That's the XAU. We go to the Gold Bugs Index. Now this is gonna be monster, because the Gold Bugs Index is just a larger. So, in the Gold Bugs Index, you know, you have the B point out here is 211, 212 actually.  And right now you're at 207. So, what you're gonna need inside of the Gold Bugs Index, same type of setup, you know, you can see that that high, the B point there had 29 million. We pulled back yesterday with 24. The B point itself is 211. So if it's breaking through there, there's a couple different ways you can trade that, meaning you don't have to trade the actual, the industry, what you could do is you can trade the biggest, strongest equities inside of the industry. That's another way if you wanna go into the individual equities, that's how you can get into those individual equities, and that's how you trade them. Let's go and take a look at the notes and bonds. So the notes and bonds right now, the tenure note, you know, we started the program out, you can see there's a big seller, man. Whoever the seller is, you know, you can see they threw everything at it, man. Now the cool thing is that they, when they threw everything at it, they only got it down, well, no, they did it. So this is really cool, man. You see that, 60,000 contracts. Let me put this, I wanna see if this, they were trying to break the market. A USZ, I wanna pull the 30 year up simultaneously. Yeah, it's in the 30 too. No, not as bad. Yeah, it was in there though. It was in the 30. They haven't been able to break that yet. You had the, we had so many Fed governors come out today. It's pretty intense. And we get back, we'll talk about it because Evans just came out folks in the bottom line is that he's looking for, now this was actually, it looks to me like this was actually kind of dovish, but he wasn't pushing it as dovish because he was saying that the aspect that he thought the Fed's fund rate would be 4.5 to 4.75 by early 2023. So the real question is what's early 2023? Because right now we're at three to 3.5. Stay right there folks, come right back. 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Welcome back folks, Dow. Dow Industries right now, down 330.  Let's go over to Tesla and take a look. We've got a couple of tigers out here and tygruses with Tesla. So Tesla right now, let's take a look. The low for the years 206, the highs 414. So first we have to, let me put this on a weekly. Because you had volume on this breakdown town, which is not good. You broke the swing with 326 versus yeah. So here, I have this on a weekly right now. So this wants to go to the bottom of the consolidation, which is that 206. So you gotta be careful here because, see that, not this week, this week you did, well, this is heavy, 358 million already. Last week you did, they're unloading Tesla, man. Okay, see this right here? You done 358, we got a day left. You broke, you were pushing into the last swing. The last swing only had 249. You pushed into that with 320, you broke it. That's saying that Tesla wants to come down to this 206. So you gotta be careful with Tesla. And Elon Musk, just come out folks. Now the good old Tigers gave me this, okay, but this is pretty cool, folks. He's got a new model, it's gonna be called the Rifa. And it's gonna have a 420 horsepower big time. And what it's gonna be powered by, you know, it's gonna be powered by good old weed.  It's awesome though. You know what's so funny about this?  Because if you don't know this folks, okay? You see that bid? Okay, this is all sub-blown and stuff with him, okay? But the bottom line, his bid is 5,420. 5,420, and 420 is the time you smoke pot. I don't know who came up with that, but the bottom line is that sort of symbolizes. So in Tesla, 5,420, you can see, you had the big price spread yesterday. Forty-two dollars up to 52. Today it traded 50 dollars and 22 cents. So what's going on with Tesla, what's gonna be intriguing here is the aspect of, when this happened yesterday, there were a couple funds that came out that said, hey listen, we haven't even talked to him in three or four months, you know, about the deal. That being said, folks, okay, when Musk calls, they're gonna wanna do business. The reason they're gonna wanna do business is they know that the bottom line, it's more than just a one-trick pony. You know, Kevin Hinks, if you haven't listened to the show Fast Markets, and it's all about options, okay, great show. And Kevin and Tom White, I mean, they're amazing how they can put strategies together. Something that Kevin had said yesterday, I thought was just so cool, it was unbelievable, because we've heard this so many times in the press about that, you know, that Musk turned around and, you know, didn't have plans and didn't know what to do with Twitter and all this. And he says, and it's so true, he says, okay, so someone like Musk doesn't have plans and he sends, you know, his rockets up in space. Yeah, it's not even close.  I mean, it's the classic, you know, you get the gist of it, man. He definitely has plans. I think he stepped in more than he wanted to step in, but then would end up happening simultaneously is that he didn't want that discovery. Discovery for someone like him would be a real problem because what happens in the discovery is that you can get into anything and everything, particularly because when I say anything and everything, I'm talking about the finances of anything and everything and that's what he didn't want people digging into for sure, because then it'll be on the record. That's a whole different ball game.<PHONE_NUMBER>, let's go take a look at a few of these steel stocks. Actually, hold on, no, CF is a fertilizer stock, I think, right? Yeah, so let's take a look at some of this. This is cooking. So Lowes 55, the highs 119. This is CF energy industries. Okay, so that's too close to an ABC up. Nope, you're gonna need 900,000. It's not a bad start, though. You're at 106. It's gonna try to press into the highs up here. Let's go see what Mosaic is doing. Mosaic right now. Not much, up 32 cents, trading 51.41.  So last night I went shopping, right? And I had the effort to go shopping. And the meaning for clothes, right? So what ended up happening, right? I'm in nostrums, I'm in nostrums. And man, I'm looking at these clothes and I'm saying to myself, like, you gotta go work for a week to buy a pair of pants now. I mean, it's like crazy, man. So bottom line, buy a couple pairs of jeans, right? And depending on how long you've been listening, if you remember, when I started the Gold Report, okay? So it's 2001. I couldn't even buy any clothes because what was happening at that particular point is that, like, that's when, you know, even pants are only like 30 bucks or whatever, right? But I would add it up and say, hold it, man. I, you know, 10 pants, 10 pairs, because Gold is only $282. I'm not saying to myself, 10 pairs of pants is one ounce of Gold. Why am I gonna buy a pants, man? I gotta save my money and buy Gold, right? So the bottom line, that did work out very well. Now, this is just the opposite of what's going on. Meaning, no, it's just the opposite, it's the same thing. When I was there last night, man, I'm saying to myself, it makes zero sense. They have jeans in nostrum now, okay? The cheapest ones, I think were $110. There were plenty of them, for pair of jeans. A pair of jeans, man. I mean, okay, so here's my point, though. Then I start thinking, you know, like right now, the last houses I sold, they're close to a million. And, you know, so it's like, to me, that's really expensive, affordability. But then, I'm thinking, well, if a pair of jeans is $100 or $200, man, okay? These prices have a lot further to go. And then, you know, when I was cashing out, there was a guy in front of me, and the lady, he had said something to the lady, and I didn't hear what he said. But she said that, yeah, she says, three quarters of this floor are overpriced. That's what the clerk behind the counter said to the gentleman, and of course, I'm right behind him, and that's how I felt. But the bottom line was, I needed a couple pairs of pants anyway. You know, so there's disconnects out here that are really big. Meaning, and these clothing manufacturers, man, well, let's go look at Nonstro, I want to look at, because I can't picture them making money, man. Well, they might be selling some product, but you're not gonna sell a lot of product at those prices. Not even close, man. I mean, that's crazy, man. That's like insane.<PHONE_NUMBER>, you have to dial. Dial industry was down at 329, NASDAQ is off 68, S&P's down 34, stay right there, folks, come right back. The technology around us is changing every day. 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Go to tfnn.com, then hit Watch Tiger TV. That's tfnn.com, then hit Watch Tiger TV. Welcome back, folks. Sit down. Dow investors down 331, you get the Mazdaq F-73, S&Ps off 36. So let's go back to the dollar, because the question is the, if the dollar does go to 121, what will happen to commodities might take? Commodities will get hurt. The price to the dollar's bottom line because of 121, everything is gonna be at lower price except the dollar. Now, that being said, because of the story that I just told of the aspect of like, what's going on retail-wise, I can't see commodities not staying substantially higher for a long period of time. And the reason being folks is this, you don't need pants, you need commodities, okay?  But the bottom line, you need commodities. So that's kind of what I was getting to, and more so, of what I was looking at last night, I'm saying to myself, okay, if jeans go for this much money, and they didn't have any Levi's, by the way, but I'll go look at, I like that J.W. Rack or whatever that is, there's no doubt about it. Anyway, you get the gist of it. So even if it gets to that level, well then, at the beginning of that rise, you'll see commodities will get hit. As soon as it backs off, then you'll see commodities go higher. See, the way that I think this is gonna shake out is that we had the expansion of about 30% now it's about nine months ago, right? And it seems like everything went up 30%. Now they're talking seven or eight, whatever they're talking about. Man, everything we use is like up 30%. That's not gonna go down. It's gonna back down a little. The real question is, is we hope that it doesn't accelerate up. And then what's gonna happen, it's gonna be getting rid of the stuff that the people are gouging versus the ones that aren't gouging. And I think when you ask that type of price for a pair of jeans, they're gouging, man. People won't buy them, you know what I mean? That's where it comes down to, you know? I mean, that's my take on the whole deal. So if we get open, we take a look at these markets. When you're gonna look at here, you get the spy. I think we got a failure just about everywhere. Yeah, you got a failure. Europe, you're down 320 in this. Look at the volume, man. This contraction is insane. 71 million versus 88 yesterday versus 103. Always remember folks, the bank and Claya hide out the bull can run you over and thank God there's always another trade. Health happens in prosperity. Have a great night, folks. Have a safe night. Come back and visit Tommy tomorrow morning. Kicks us off, nine in the morning. Great show, folks.


Good morning. Why don't we go ahead and get started? Welcome everyone to Lovely Silver Spring. This is the nicest time of the year to be in Washington, and I think we'll have some decent weather, so that's great. I'm Terry Minolio. I lead the Division of Genomic Medicine at NHGRI, and would just mention this is the tenth in a series of genomic medicine meetings that the people sort of sitting around me have helped to plan. We have a genomic medicine working group that is advisory to our advisory council. It's a working group actually of our advisory council, and so from Carol on to Mark, including Eric and Laura Rodriguez who will be here shortly. Yeah. Yeah, there are a few that are down for the count, but they'll be back shortly. This meeting we wanted to focus on implementation of pharmacogenomics and research to facilitate that implementation. We would emphasize that this is not a meeting to talk about more discovery of pharmacogenomic variants, even though that's important and stuff that needs to be done. It's not a meeting to talk about developing new drugs or functionalizing variants or those things. It's really to take established knowledge and implement it in care. You all received a series of papers in the mailing, the background mailings that I hope you've taken a look at. There's one quote in there that I just can't resist reading from the lady to my left here, and Bill Evans quote, our enthusiasm for advancing molecular technology and defining the human genome has not yet been matched by willingness to incorporate this technology and knowledge into well-controlled and monitored clinical trials, and I would add care for the patient. So something that we really need to keep in mind this week or four. What I'd like to do this morning before we get started is just to do introductions of everybody in the room, because one of the things we do with these meetings is to try to encourage everybody to interact and hopefully develop collaborations or sharing that of information and techniques. So with that, I think the only other announcements I need to make are that Teji Rock-Reburse at the end of the row here is taking your talks. And so if you haven't given your talks to her, please do so really soon. Remember that all of this is being videotaped, so be careful what you say. And we do post these webcasts, it's live webcast, and then we will post it as an archive, and we do get a fair number of views after the fact. The restrooms are down the hall, food is behind us, lunch will be served there. And just before lunch we'd like to gather, there's a very nice patio out here and we'd like to gather for a photo of the group, and our colleague Ernesto will be taking pictures, live action shots as it were as we go through. Teji has some very handy but annoying little signs that will tell the speakers. There's one, five, two, and one minute. So please do try to stick to time so that we maintain discussion time. So with that, as I said, I'm Terry Manolio. I lead the Division of Genomic Medicine at the National Human Genome Research Institute. Mary Relling, chair of the Pharmaceutical Department at St. Jude Children's Research Hospital in Memphis. Simone Wolpe in HGRI. I'm a program director in the Division of Genomic Medicine with Terry Manolio. Dan Rodin at Vanderbilt and a member of this advisory group. Howard McLeod at Moffitt Cancer Center. Dan and I are not sharing a seat. We're just sitting really close together. I'm on Howard's lap. Pat Deverka, principal researcher at the American Institutes for Research and a member of this committee as well. Hi, I'm Carol Bolt from the Jackson Lab and I'm also on the Genomic Medicine Working Group. Heidi Rehm from Harvard Medical School and the Broad Institute and a PI of ClinGen. Hi, I'm Marilyn Ritchie. I'm director of Biomedical and Translational Informatics at Geisinger Health System. Hi, I'm Laura Rasmussen-Torbeck. I'm in the Preventive Medicine Department at Northwestern University. Steve Leder, the division of Clinical Pharmacology, Toxicology and Therapeutic Innovation at Children's Mercy Hospital in Kansas City. Laurie Cavallari, I'm associate director of the Personalized Medicine Program at University of Florida. Kristen Weitzel, also an associate director of the Personalized Medicine Program at the University of Florida. Hi, I'm Julie Johnson. I'm director of the Personalized Medicine Program at UF and also PI of one of the Ignite projects funded that's focused in pharmacogenomics. Peter O'Donnell at the University of Chicago and I'm the associate director of our Center for Personalized Therapeutics. Uli Burcal from the Medical College of Wisconsin and I'm working with Mary on rallying on her Peach In For Kids project which we've been doing pre-emphasic genotyping for a long time. Teji Rokroboros, Dick University. Melpikasapium, a program analyst in the division of Genomic Medicine at NSGRI. Good morning, my name is John Wilson. I'm the chief medical information officer at a company called Optum which is the services division of the United Health Group. I'm leading the genomics effort at Optum. Dick Winschelbaum from the Mayo Clinic and I lead our Pharmacogenomics program in the Center for Individualized Medicine. Manoli Parare, the department of pharmacology at Northwestern and I'm the PI for Account which is one of the precision medicine center grants. I'm Todd Score from Indiana University, the division of clinical pharmacology and I'm one of the PIs of our, one of the Ignite network sites. I'm Josh Denning from Vanderbilt. Medicine Informatics and like Todd also serves one of the PIs of an Ignite project. Hi, I'm Lynn Dressler. I'm from Mission Health System in Asheville, North Carolina, a community health system and I'm director of the personalized medicine program there. I'm Paul Anderson, father of Angela who died of toxic epidermal necrolysis. Mark Williams, director of the Genomic Medicine Institute, Geisinger Health System, member of the working group. Rex Chisholm, Northwestern University in Chicago, also member of the working group and PI of one of the emerged clinical sites. Jeff Ginsberg from Duke University where I direct the Center for Applied Genomics and Precision Medicine. Also a PI of an Ignite project that has nothing to do with pharmacogenetics. Eric Green, director of NHGRI. Which way are we going? I pointed that way. Oh, you pointed that way. I'm sorry. Sheena Faraday, I'm a science writer at NHGRI. Donna Messersmith, I'm with the Genomic Healthcare Branch, NHGRI. Bob Wilden, chief of the Genomic Healthcare Branch at NHGRI. Ben Spahnem, senior advisor to Dr. Green on genomics and health disparities. Rebecca, policy office at NHGRI. Hi, I'm sorry. Jeff Scruing from the Division of Genomic Medicine at NHGRI. Onepin Anderson, the mother of Angela Anderson. She died from the tinge back in December 28th, 2015. Mike Mikalkiewicz, research scientist for our healthcare. I'm part of Ignite program with Evander Bilt. We are introducing pharmacogenomics to community healthcare system. Murray Brilliant, Marshfield Clinic Research Institute. I direct our Center for Human Genetics and Personalized Medicine Research Project. Jyothi Dayal, program officer, Division of Genomic Medicine at NHGRI. Sylvia Garvey, Division of Genomic Medicine at NHGRI. Josiah Allen, director of medical affairs at 1M, a pharmacogenomics company. Hi, Jenna Baker from NIDDK, and I manage a program called Illuminating the Drugable Genome. Great, thank you all very much. So I'd like to introduce one of my two co-chairs, Simona being the other. Mary Relling, who will make some opening remarks.


So today guys I just want to make a short video talking about loot within this game. Over the past few days I myself have seen a lack of it drop and although I have a video dedicated to this topic probably already on my channel by the time you see this I thought I'd make a second video talking about those juicy loot levels and what actually is the cap on loot. How high does it go? As it going guys my name's DPJ and if you enjoyed the video leaving a like really helps out and if you like what you see I want to see more outriders on a daily basis be sure to subscribe. So there's an absolute ton of loot in this game somewhat 46 legendary weapons, 90 maybe more armor pieces. If you plan on collecting the lot there's a lot of farming for you to do. Me personally I'm the kind of person who likes to collect that loot at its highest possible drop level. Yeah it's nice to have the ones over in terms of both weapons and armors but if you think about it PCF are smart in the sense that in reality you have to collect everything at least twice just to get that tier 3 mud. Besides the odd few pieces which can show the same tier 3 mud but for the most part it's a crazy grind when you do think about it. I right now if a weapon or armor piece drops unless it's real high of a level or something I haven't got I don't really take much notice of it. Right now I'm chasing those high level pieces but just how high does gear go? Well me personally I haven't seen any armor piece go higher than 11.3 on my trickster anyway and these pieces in themselves are super super rare I think out of how many times of the expeditions now into the hundreds I think I have like one or two pieces now of 11.3 armor which is crazy but if you do have higher armor than 11.3 please let me know or you can even show it off via my discord or twitter both are linked below but for me guys yes 11.3 is definitely the highest I've seen. But what about weapons? Well the rumor I heard was weapons drop up to 100k firepower again this isn't anything I've seen at all and the highest I myself have had is just over 95k but having a look online guys a dude over already got this beauty could it be random for this find a death shield coming in at 99.4k firepower 99.4k people this is by far the highest firepowered weapon I have ever seen so it seems as though those rumors must be true people with a 100k firepower weapon absolutely possible to discover for 99.9k same thing you know what I mean now if you have any weapons this high if you have a weapon higher than 99.4k firepower please share them with me people again discord twitter both are linked down below now what I believe happened with this drop is I believe it was said it dropped on a challenge tier 13 a 74.4k firepower and then it was just leveled up and boom then result 99.4 it then became the highest firepower weapon I believe many of us have ever seen so yes this is the kind of level I want to collect I mean anything over 99k is perfect for me as then it means when it comes to upgrading second third and fourth classes these weapons will be ready to be used and that is really my ultimate goal but yes people just want to make a quick video on legendary gear levels it's interesting to know why everyone thinks these levels and if you like me only want the highest loot maybe it's just a me thing but the highest loot for me is that end game that's that end game chase for me and that's what I'm doing right now I know it's a weird way to look at the game but it's the way I've always been with looter shooters I always want that highest gear and I know I can't be the only one out there do you play this game like this let me know but yes guys like I said they show up on sweet one on that extremely high level loot if you enjoyed the video even though that truly helps out if you're new around here want to see more outriders on a daily basis be sure to subscribe and if you never want to miss a video where blood can turn notifications on by hitting that bell button guys thanks as always for stopping by and hopefully I will see you on that next one


My parents had very demanding jobs. My mother and father ran a law firm and we had to travel a lot. I had to get used to pretty much being alone. It seemed like I could never get used to having friends. I knew I'd be up and moving shortly anyway. I was also an only child. Therefore, life was pretty much a sad thing for me. However, I will never forget a strange encounter I had when my parents and I moved into a trailer on the countryside of Mississippi. It was pretty much desolate other than a few other houses and trailers. The trailer was the best my parents could find. We moved in the trailer next to an old man. He looked as though he was in his late 80s. He also seemed to live alone. I never saw anyone but him outside. I don't think he had a wife, kids, or even grandchildren. However, he did have a dog. It was quite a strange dog, though. It appeared to be a black German shepherd. He had one of the most unique, beautiful black coats of fur I had ever seen on any animal. His fur could be compared to that of the night sky. He was also quite large. He definitely had some great Dane in his bloodline. When you see this dog's black coat and large size, he looks absolutely intimidating. It was simply astounding. I'd honestly never seen a dog quite like this. I went over to introduce myself to the neighbor, though he looked grumpy. The man was actually really nice. He introduced himself as Mr. Frank Gosseld. But he told me I could just call him Frank. I then asked what was the name of his dog. His name was Grimm. Grimm simply glanced at me, but paid me no attention. As time passed, Frank and I had become friends. He said it was nice to finally have some company. I would regularly help Frank with his chores around the house. Afterwards, he would give me a little pay for my help. With my father always working, Frank pretty much became my father figure. It made me feel special. There was something quite strange though every time I visited. Grimm would be gone most of the time. Frank explained that Grimm loved to explore the woods, but my gut told me that wasn't the case. Occasionally, I would come across Grimm. His behavior was quite weird. Sometimes he would just sit completely still, staring out into the woods. He looked utterly focused. I would try to play with Grimm, but he was never playful. Whenever I tried to get him to play, he'd just look at me with a blank stare and continue to look out into the woods. His tail wouldn't even wag in the slightest. He didn't seem like a happy dog. That was until about a month into staying in the trailer. Apparently, a man died late in the night. Police said he was drunk and drove his car into a tree. That day, I saw Grimm's tail wag. He actually looked happy. I ran over to see if he would happily greet me. But after he noticed me, his tail stopped wagging and he gave me a low growl. It was like I was disturbing his happiness. After that, I was kind of determined to find out what was Grimm's deal. The weirdest thing about him was his behavior. Every time someone in the neighborhood died, he would either be gone or be happy. It was almost like he knew when people died. This began to bother me. It actually began to disturb me. I began to have nightmares about Grimm. I had dreams of him at the drunk man's accident. There was an old lady who lived about three miles away from us. She'd suffered from a heart attack in her sleep. I had a nightmare that Grimm had something to do with it. One of my final nightmares was of Grimm popping out of nowhere and biting my throat. Time passed and my parents and I were getting ready to move again. I went over to say goodbye to Frank. He was sad that I was leaving. I was pretty torn up about it too. However, I couldn't leave without knowing more about Grimm. I asked Frank where he'd gotten him. His face went pale for a moment and after a brief moment of hesitation, he answered. I didn't find him. He found me. My wife died a few years ago. After that, he just showed up. I found that quite weird. Grimm just appeared after Frank's wife died. Then Frank said something that I'll never forget. I once thought Grimm was a normal dog. I thought he was just some stray that found his way to my door. Then I realized that wasn't quite the case. You see my boy, Grimm isn't just a normal dog. As a matter of fact. He isn't a dog at all. I couldn't think of anything to say. I was baffled. I did manage to ask one final question. Then what is he? Frank looked at me with a face of caution. I... I think... I think he's death.  I once followed him and discovered he was arriving at the scenes of upcoming death. He would never be happy until someone died or was about to die. I even believe he can be at several places at once, but it's best you leave now. We don't want to upset him. Please leave. With that being said, I left Frank's house and never saw him again. My parents had finished packing up and we were on our way to the airport. I'll never forget what I saw as we drove away. I looked out the back car window and saw Grimm. He was staring directly at me, but this time he was wagging his tail. He was happy to see me leave. At the airport, we began to board our plane. I could have sworn I spotted Grimm at the airport for a second, but when I took a second look, there was nothing there. I'm sure you can imagine what happened to that plane. I was the only survivor. I lost both my parents that day and I finally realized what Grimm was. This may seem far-fetched, but maybe Grimm is deaf. I guess that's why his name is Grimm. I've never been a spiritual person. I do believe in death, though. Eventually, it's coming for all of us. However, I can confidently say I cheated. Death and death is a dog. Death is a dog named Grimm.


My name is Major Kevin Rowe. I'm a Heavy-C-17 pilot from the 517th Airlift Squadron at Joint Base Elmendorf Richardson, Alaska. The President's been very clear that we are in support of Ukraine's sovereignty and territorial integrity and that we as a nation stand with Ukraine. We've been working around the clock to provide support with their security assistance requests, delivering weapons from U.S. stocks, and supporting our allies when their weapons better suits Ukraine's needs. The security assistance requests that we have fulfilled so far for Ukraine have been enabling critical successes on the battlefield with invading Russian forces. So partners coming together, it's definitely already been showing it and having an impact. Yeah, so as a member of the Alliance, the United States is making a commitment to make an impact from that standpoint and be ready to respond should that construct be activated. Yeah, exactly. We're always prepared to deploy at a moment's notice, day or night, we're pretty much always ready. We're definitely going to stand behind Ukraine and bring whatever assistance we can. They obviously weren't expecting this kind of unwarranted war, so anyway we can help with the unnecessary suffering and harm to life on there and we'll do the best that we can. I'm Hunter Jones, Chief Foreign Officer 2 in the Marine Corps, and I'm the Mobility Officer for Marine Forces Reserve. So tonight we're loading six howitzers. These are going to go over to Eastern Europe to support the conflict over there. So the idea is to send these over there to train up the Ukrainians so they can employ them forward. Yeah, so this is to aid the Ukrainians, to give them that long range capability and to deter the conflict with Russia. This is huge. This is knowing that we're making an impact, knowing that these are going over there to help the Ukrainians, it gives me a sense of pride. To know that we're helping out, that we're assisting, so we're all very excited, motivated to be here. It's a huge honor.


Neil's Christian Everson off the inside at red, Nicky Patterson gate 2 in blue, Matzi Anowski, he needs a good round today, he's off gate 3 in white and Chris Holder off the outside in yellow. Chris Holder started like a house on fire but it's just dipped a little bit in recent weeks but he'll be hoping that this morning's conditions will be suitable to him. Terrific line up, Everson on the inside, Nicky Patterson alongside the two top games, interesting first corner coming up. Certainly is Nicky Patterson winner here in the middle of last year, can he do it again? And the green line comes on and it goes a lot quicker that time and Nicky Patterson has made a beauty from gate number two, now Janowski comes around the outside and times up the inside as Janowski got the speed, what a move from Matzi Anowski of Poland, gets the better of Nicky Patterson and they're all punching up just behind Patterson now with Holder battling through, Chris Holder gets the better of Everson and Nicky Patterson True, well Roonful has moved there for Nicky Patterson, dived up the inside as he answered the first corner for the second time but Janowski saw it, really, Patterson once again trying to do it but Janowski's wide spread this time, now Holder's up there, Everson's gone down, disappointment for him, traumatic speedway at gate number two, Patterson back up the inside of Chris Holder, Roonful's speedway there between the Australian and the Danish man Janowski out in front, controlling the action, here comes Holder again now charging around the outside of Patterson but Janowski needs a big day today, he's starting off superbly it's Magic Janowski from Chris Holder from Nicky Patterson and Nicky Patterson will be gutted that he made the start, he made a dream start there and he wasn't able to see it through he's gone from first to third and Niels Christian Everson fell, was able to remount so the race continued, what a race, you couldn't take your eyes off that one, it's his world championship speedway and the boys are going for it, yeah and that was a terrific heat smashing start initially from Patterson against there but Janowski squares the corner off and he's so much faster down that back straight and then you see that move, he dives up the inside, I thought he was going to clip his front wheel but Janowski to his eternal credit, really very well indeed he's wise to hit the next time around and then Holder gets in amongst it, now watch this, Patterson once again charging up the inside, gets himself back into second place but Holder's got more speed he then gets around the outside of the three-time champion and gets himself to second place Janowski, disappointment, was dropped from the World Cup, that's a nice way to start so your mornings work


The results of this study suggest that only 23.3% of postnatal women in Wolkite, Southeast Ethiopia utilized early postnatal care services within two weeks after childbirth. Factors such as wanted pregnancy, having more than four previous pregnancies, and having a spontaneous vertex delivery were found to be significantly associated with early postnatal care service usage. Community-based health promotion should be an important recommendation to increase early postnatal care service usage among postnatal women to improve the level of awareness of early postnatal check-up schedules done by healthcare providers. This article was authored by Shagorgis, Yergalom Yosef, Mabretu Demisi, and others.