to introduce to you and although she wouldn't need introduction probably last one but I think all of you have read something written by her or had in some ways contacted without knowing her so she's really the mind behind the transcribers user conference she's really mad the mind behind all the dissemination activities which is an active research in the field of this whole phantom world that's spread from the University College of London to to the rest of us and she's going to talk about here spotting in practice now and thrilled to have her as the last speaker of this conference. Thanks. Hi everyone, everyone here will be okay. Okay so yeah thanks to Vice for the introduction and thanks everyone for staying at the end of the conference. My presentation isn't too long so you'll hopefully get to be one time. So as I said I one of my jobs is to do a lot of dissemination for the read project so I organise this conference and I do a lot of events and writing about read but in my other hats I work on the Bentham project and I'm a historian at the University of College London so that's what I'm going to be talking about today and some of our experiments with handwriting. So it's just a summary of my presentation I'll first of all give introduction to the Bentham project then talk about our crowd sourcing project that's transcribed Bentham. I'll talk about how we've been working with HTR over the past five years and finally show our new toy which is our Keyword Spotting tool and then talk some more about the future as well what we hope to do with HTR and how we hope to improve. So Bentham as we mentioned a few times already at this conference but some of you might not know who he is so Bentham is an English philosopher and former and he lived from 1748 to 1832 and he's most well known for coming up with the philosophy of utilitarianism and this is the idea about maximising pleasure and minimising pain for the greatest number of people in society. He also invented the an optican prison design which is the idea that surveillance in a prison can encourage prisoners to be on their best behaviour and he's also famous as well for a slightly strange reason. He requested that his body be preserved and publicly displayed after he died. So this is Bentham's body which is called his auto icon and you can see this in the corridor at University College London if you can't reverse. So the mission of the Bentham project is to make the definitive scholarly edition of Bentham's published writings and also his unpublished manuscripts as well. University College London set up what they called the Bentham Committee back in 1959 and in 1961 the first general editor of the edition was appointed after which the researchers who worked on the Bentham edition came to be known as the Bentham project and we have the current general editor of Bentham edition here at the front of Professor Phillips Gofield. So Bentham left behind a quite big collection of manuscripts which we held at University College London and British Library as well. So there's about 75,000 folios in total, 60,000 at UCL at University College London and about 15,000 at British Library. So far the Bentham project in nearly 60 years we've edited and published exactly 33 books written by a Bentham but we expect that the total of the edition will be at least 80 volumes so unfortunately we're not even halfway there yet so this is why we need new technologies and HTR to really speed things up. So we started to think about this back in 2010 when we received a one-year grant to prepare and launch a crowdsourcing project which is called Transcribe Bentham. So this project is an online initiative members of the public come to our website and we asked them to transcribe pages of digital images of Bentham's manuscripts. What started as an experiment has developed into a really well established initiative since 2010. Volunteers have transcribed about 20,000 pages of Bentham's writings at quite a high level of accuracy and for that we own a huge amount of things. So crowdsourcing transcription in this way working with volunteers has proved to have three main advantages for the Bentham project relating to preservation, scholarship and public access as well. So first of all it means we've digitised all of Bentham's papers, they amount now to around 95,000 images from both University College London and British Library and obviously the transcripts that our volunteers produce are helping to make these images more usable, make it help people to read them. It's also important for our scholarship we use the transcripts produced by volunteers to give us a head start in our editorial work. It means we don't have to transcribe everything from scratch. Transcripts are also useful for other researchers and students in Bentham. And then as well the crowdsourcing side is a really good example of public engagement with history so it allows us to spread the word about Bentham beyond academics and the public can become involved in a research project like ours so it's very rewarding for both sides. So volunteers, their names will appear in the acknowledgments of volumes of the edition where they've contributed transcripts and we've already started to use some of their work in one of the publications such as the Bentham cookbook. This is a real collection of recipes that Bentham wrote for prisoners in the Brisbane prison as you can imagine they're not the most appetizing of the recipes. So this is a screenshot from our crowdsourcing website so our website is called the transcription desk and it's all on a media wiki framework so similar works in a way to Wikipedia. Transcribers come they register for an account they can explore the manuscripts on the site choose a page to transcribe and start transcribing. What we ask them to do is produce a diplomatic transcript so an exact replica of everything that's on a particular page. This is a challenging task for two main reasons. So first is Bentham handwriting. This is a particularly bad example so I wouldn't give this one to a new volunteer but yeah Bentham writing was never neat and it got increasingly worse as people got older so volunteers always have to make sense of as on this page the frequent editions changes deletions are certainly going on and then secondly as well volunteers have we ask them to use TEI or the texting coding initiative mark up their transcripts so on our transcription desk we have a toolbar where they can click and add TEI tags to mark the features of the manuscripts like marginalia, paragraphs, editions. Once a volunteer has transcribed a particular page they send us a message saying that that page is complete we then check each page that's submitted to us the page eventually gets saved and uploaded to the UCL library repository where anyone can view it and we also spend a lot of time supporting our volunteers in other ways as Mark was talking about yesterday setting challenges for them doing events user documentation answering all their questions so to talk a bit about our users before we want to talk about HDR so in common with many crowdsourcing projects transcribed Bentham is not really dependent on a crowd it's really a small group of active users who do really good work so our website gets about 300 to 350 unique views every month but only a hand for the people actually registered for an account and transcribed something so since transcribed Bentham began eight years ago there's been about 660 users who have transcribed something at least once but it's about four percent of this 660 who are really our core users who we call our super transcribers so they're the ones that have done most of the work there's about 31 people who have transcribed 19,000 pages which is about 95 percent of all pages transcribed on the transcription desk so it's a phenomenal amount of work for the really small group of people that have done levels of participation amongst the super transcribers vary so some of them come and go every few months or even every few years and there tends to be between three and five people participating every week 15 of our super transcribers have contributed something in the past year and I said some of the others come and go so what's important about these statistics is that it really shows that we're dependent on quite a small number of people who have made a huge achievement they need to help basically so we need to make sure we support our existing super transcribers they love transcribing and they do it very well so we need to make sure that we keep them happy but we also want to encourage new people to take part people who might be scared of benefit from handwriting we want them to take part as well we know from the surveys that we do a difficulty of reading benefit from handwriting is a real barrier to participation and so we hope we can simplify this experience of reading benefit handwriting with HDR so we started working with HDR in transcribers and transcribers sorry in 2013 as one of the partners in the transcriptorium project which was the forerunner project to read so at this point I think it's fair to say that the we were quite uncertain about the capabilities of the technology and the technology is obviously advanced advanced already quite a lot in the past five years so what was decided was that we would focus on training a model to recognize some of the easier writing benefit from collection and there's a lot of pages in the collections that are actually written by Benton secretaries where handwriting is very neat so on this task we collaborated with Alejandro and his colleagues at the passenger recognition and human language technology research centre at the University of Valencia who were part of transcriptorium and are now part of read as well so they helped us create nearly 900 pages of training data images and transcripts from the Benton collection and they processed them but under transcriptorium they were working with hidden Markov models rather than neural networks and the best result that we managed under transcriptorium was a HDR model with a character error rate of about 18 percent so this was a promising start but we hoped that better results would be possible so when we came to the read project we moved on to working with the SITLAB team at the University of Rostock and neural network technology and that was integrated in transcribers so again we used the same set of training data this set of ground trains relating to pages written by Benton secretaries so quite neat handwriting written in English and the results of this one gave us a model with a character error rate of just three percent on the test set. We also created a matching dictionary based on the breached edition of Benton's what Benton's collected works and both the dictionary and this model are publicly available to all transcribers users under the title English writing M1 so if you see that in transcribers that's the Benton model was the writing of his secretaries so a character error rate of just three percent obviously seems really impressive but the complexities of the Benton collection mean that we could not get that kind of accuracy rate on every page so the model was trained on what we considered to be some of the easiest writing from the collection and therefore it struggles to process more difficult writing and transcribe it so we're talking Benton's own handwriting writing by other secretaries where the handwriting might be more difficult and also Benton's correspondence as well so the Benton collection contains a lot of incoming correspondence from all people Benton was writing to so that needs to be recognised as well so if we're taking just a random page from the collection and trying to recognise it with this model we can get a character error rate of probably between five and 20 percent so you can see an example here and so this is an example of an automatic transcript it is Benton's handwriting but this is Benton on a good day so it's relatively neat to prevent them and on this this page it's a character error rate of about 8.9 percent a real strength of this model is English writing M1 model is that it can generate good transcripts of other collections of simple handwriting especially from the same period so 18th from 19th century at last year's transcribers user conference Deborah Cornell from the Georgian papers program was talking about how they were using this model to transcribe papers written by the English team George III and many transcribers users have also used the Benton model as a base model when they're creating new models training new models so this basically means that you take advantage of what the system has already learned from reading the writing learning to read the writing of Benton secretaries and it gives you a head start basically on your recognition so our next challenge was to try to improve the recognition of Benton's most difficult handwriting and here the advances in layout analysis again coming from the SITLAB team at Rostock were key for us it meant we could now automatically detect the lines in all of the Benton images to a really high level of accuracy and so create ground truth more quickly in transcribers so we created a few hundred pages of training data in transcribers manually by uploading images segmenting automatically and then transcribing each page we basically copy and pasted in lines from our assistant transcripts our first milestone was a model that was trained on 57,000 transcribed words and this had a character error rate of 26% on the tester so you can see it's it's really challenging handwriting we then decided to experiment with text to image matching so this is again something coming from SITLAB in University of Rostock so it's where an algorithm automatically goes through and tries to match images to existing transcripts that you have that automatically create training data for text recognition so we have lots of transcripts so we thought we'd try that but the results created a lot of errors so we decided that it was quicker to just transcribe ourselves manually we carried on doing that and then the next model that we had is now transcribed on about 81,000 words which is around 350 pages from the collection it's trained on some of Benton's worst handwriting and the test set is again about 17 so this is an example here this is some of as I said this is some of Benton's worst handwriting and the automated transcripts below and you can see in the transcript it's making up words that aren't really there and it's struggling to read things that are crossed out along these sorts of complications and yeah on this page the character error rate is nearly 34 so really quite high so this error rate is obviously still too high for us to get a useful automated transcription of Benton's most difficult handwriting that could be used for scholarly editing as we're hearing this morning you really need quite an accurate transcript for scholarly editing and with something that has a character error rate of 35% it's probably going to be way too time consuming and annoying to be honest for us to correct all the errors and when we have we have experts working on Benton so it might be quick and frustrating just transcribed and scratched but having worked with transcribers for many years now we know that the technology is improving all the time and so we're hoping with more pages of training data and htr plus as well that our results will improve and the future is always bright so although we do not yet realize the complete transcription of Benton's handwriting what we have been able to do is start to experiment with keyword spotting and we're really excited about this so as we've seen throughout the conference keyword spotting technology can work well with htr even with htr models that have quite high error rates so even going up to 30% character error rate it can still find words that it's looking for this is because it uses statistical models trained for text recognition to search through probability values assigned to characters so basically this means that the engine returns what it thinks is the best guess for the word you're searching for but also a long list of other possible guesses that might match your word so this means that with keyword spotting you can find words in a collection even if those words have been mistranscribed by the htr on this first best guess so for this task we again partnered with the with Alejandro and his colleagues at the Passionary Recognition and Human Language Technology Center at Valencia and what we did first of all is we gave the dentistry team all of our images so this is about 95,000 pages both got UCL and the British Library and we also gave them access to the training data that we had created in transcribers so this is the easy pages and the more difficult pages as well so the breadth of the Bentham collection meant that the images all had to be standardised in various ways before it could be processed for keyword spotting and the Blent City did a huge amount of work on this so distinguishing between handwritten printed and blank pages getting rid of duplicate images sorting things into different hands and different languages as well there's several languages in the collection putting all the file names to be consistent and changing the resolution of images because the resolution of the UCL images were different to the resolution of the British Library images so there was a lot of pre-processing and necessary information to search for all the images once the images were clean they always had to undergo layout analysis which Alejandro mentioned in his presentation so this was done in transcribers in batch mode using the Rostock segmentation tool once we had segmented the 95,000 images we did a check on a random sample and agreed thankfully that the segmentation was accurate enough and so we didn't have to correct everything and basically by segmenting the entire collection it means you can search every page so the Blent City then started work on the ground truth that we created in transcribers and as Alejandro explained they processed this with their neural network htr and probabilistic word indexing toolkit and to train new models for us so they tested the resulting models on different test sets from the collection and this is just an example of two different test sets that they used for the UCL collection so the first one is the character error rate for testing the recognition on an easy test a page of easy test set a test set of easy pages so pages written by them the character error rate is around six percent it's quite low and then there's a hard test set so this is pages that are written by them with that the character error rate is higher about 15 percent so these results are comparable to the results that we were getting for recognition with the models from Rostock for Benton's for the easy writing and the difficult writing as well and they're also slightly better than the other collections that Blenton are working with that Alejandro mentioned the medieval chancery records and the records of the Spanish playwright David Vega so based on these results the Blenton City have created a web interface for us for keyword spotting the entirety of the Benton papers so you can go to this website and users can search through 90,000 images and this figure was reached after blank and printed pages were removed from the search results so the accuracy of the spotted words depends on what you're searching for and the difficulty of handwriting but it is possible to find what you're looking for even in some of Benton's scroll and there could be as many as 25 million words waiting to be found and obviously you can search pages that have never been transcribed which is really exciting for us so I'll do a demonstration for you now hopefully okay so this is the website and you can find it if you just go to the transcribed Benton site and there's a link to it from there so this is the home page basically you type what you want to search for in the box up here so I'm going to search for the word democracy and here's what they call the confidence slider so you can choose how confident you want the system to be about the results it's giving you so if you have the confidence set a low number you're basically saying I'm not as many results as possible even ones that you're not sure about if you set no confidence at a high level you are saying that you only want the engine to return results that is quite sure are the right word so you just click search and then go away it searches really quick as you can see and then it tells you how many boxes it's found irrelevant so it basically categorizes the results by box which is how we categorize the Benton to your own archive so let me open up a few boxes and see some results so here you get the individual page you can see who actually wrote it so this is a page by Benton you can see the level of confidence that the machine thinks that it's um it's found the word and then yeah you can see here it's found the word democracy another example this is a bit of a nasty page so here it is in some marginalia and this one is a page of it says it's bent but I think it's actually secretarial hand and it again is found it as well so it's really cool it's really quick a lot of people experimenting with it so far so we've had some analytics on site so I've been able to watch what people do here which is being very satisfying so we launched the site on the 15th October so just a few weeks ago and since that time we've had 140 unique users from 25 countries making searches on the site so some of these searches have been more surprising than others so we had the user identity that was searching for the word Naples we had a user from America that was searching for Jesus and we had a user from Austria that was searching for Jesus these are all real um I hypothesized the site I really wanted the Transfiber and volunteers to have their own so you can find as well and so I set up a green spreadsheet where people could record their searches that they were doing and also the accuracy of the results that they were finding so this is a few examples so one person searched for word legislature so Bentham was a legal philosopher so this is obviously one of his favorite words and if you search at 80% confidence you can find more than a thousand instances of that word the second example was searched for the word Muzzy so Bentham liked to make up words so this is one of the words that he coined but unfortunately we weren't able to find out the key words spotting 80% confidence this mainly reflects the training data as well Bentham's obviously saying there's just a term much more than you're saying Muzzy which means uncertainty or confused with Bentham the last example is an example of a Transfiber Bentham volunteer so a volunteer called Jill Haig got in touch with me and said that she was interested in finding out whether Bentham had talked about the Peterloo massacre of 1819 which is a famous event in the UK when cavalry charged into a crowd of people protesting and demanding democratic reform and there's a film out about it in the UK as well and so it's a topic of the current discussion so she searched for the term Peterloo in the papers but didn't find any reference to it but she did then did various combinations of the words Manchester and massacre and was able to find 11 instances where Bentham was talking about this event so that shows that how you can be invented with your searches to find what you're looking for and so and thanks to Jill for being there. So use cases for keyword spotting for us is already a fantastic resource that will be helpful to anyone interested in Bentham's philosophy it can help us at the Bentham project to find things that we're interested in and many things that we haven't read before it will allow people to quickly investigate Bentham's concepts and his correspondence as well and it also hope that it will be useful for our volunteers in Transcribe Bentham they can find subjects that they're interested in to transcribe so we've already done a huge amount of work so far but we're not going to stop this is a few suggestions for future directions that we want to go in so firstly we want to connect the Valencia keyword spotting tool to transcribe us so this will allow us to use this technology to search and transcribe this expert client just like with the Rostock technology and we can also connect the Valencia keyword spotting tool to our other digital bentham resources that we have like the online catalog and the Transcribe Bentham website as well secondly we want to improve the accuracy of our existing models so we want to as soon as I get home I'm going to be testing out HTR Plus and we also want to build up more specific training sets so at the moment more than half of our existing training data is easy handwriting from the collection so we need more of Bentham's bit of difficult handwriting we also need to think about the languages there's around 2,000 pages in the collection written in French so if we have more focused sets and more focused models we want to get better results and lastly we want to integrate HTR directly into Transcribe Bentham crowdsourcing platform so the idea is that users will be able to check and correct automated transcripts and if they don't want to do that they can just continue transcribing as usual and if they get stuck in a particular word they can ask them to suggest what it thinks that word might be so we believe this is good for our existing users who are expert transcribers but it could also be good for new users who are daunting by Bentham's handwriting and need to help him to get started and we hope that this new version of Transcribe Bentham with HTR will promote written user engagement, increase the transcription rate and therefore bring us closer to finishing the publication of Bentham's collective works so after the end of the read project the future of Transcribe Bentham and our experiments with HTR will all be dependent on us securing the funding but we're hopeful that we can join the read co-op and continue taking part and cooperating with all our colleagues so as Bentham once said many hands may be like work and so I can't finish without thanking all the people that made everything that I've talked about possible so my thanks go to my colleagues at the Bentham project all the volunteers at the Transcribe Bentham who do so much hard work the teams in Valencia, Rostock and Innsbruck and our other read colleagues as well so I'll stop there and say thank you very much Thanks a lot. About half a year about three quarters from Transcribe this team as a whole unfortunately regarding the naming of the model English writing M1 not my choice okay speaking as an outside comment I have heard this if I just seen that I've just seen that the one meant very early in history of English so I think okay Old English and M may be Mercyan so is there any and obviously there seems to be this intention to have many models publicly available but this is where the question goes more broadly I think for Transcribe as a team as a whole but are there any plans to have certainly publicly available models to have a more logical, sorry, naming close call I'll just say so the English writing M1 yeah it was chosen before my time but when you train your own model with Transcribe as you could choose the name so at the moment all users are free to choose the name that they wish but Gunterbite was any more about standardizing the way we named models? I was the one calling me it was a one second position so many I think 20 years ago was and then we came up the first time with the puppet version so sorry for that I'm not sure if you will have a naming convention because my experience was naming conventions but what we need is really that people can easily make their models available as I talked yesterday and there was a suggestion from Nico that the report mode should be that the model is public and that you should decide to make it not public I'm not sure if this is really the way but definitely it will be easy to publish and as I said it is also very important to have some metadata available and of course to have a look to the pages or at least to sometimes this is not going to be necessary other question it is search for optimization because it's in the hide and so on yeah just one question how do you communicate with the user the limitations or like what is it actually keywords what to do yes exactly like that's down there may be the things if we are not found like completely which they may be in the manuscripts and also yeah so users of Transcribe through blog posts and newsletter and so the all the active volunteers assigned up to get a newsletter basically where I tell them every month was going on the project and they also contacted me about what they've been doing in the searches and for example that's where I got the example that was in the paper is that what you mean no I meant the random users you know like like visiting your web page which I'm not what yeah sure and so this this website it's made by the people in Valencia so it's really just it's a prototype tool we need to show off the the technology so there are user guidelines on there and they explain how they give a brief explanation of how technology is working and that it's it's not going to solve all your problems and find every single word but as I say on our website as well I'm keeping people updated our experiments with he was watching in HDR and how the accuracy is improving and what's still to do so I think we're heading towards the end thanks a lot Luis the last two days is the microphone and your honor was key in organizing this event in the end but I think it's up to you to to take the mic now yes so my list of thank yous is also very long so thanks to all who organized this with Eva and of course the team from Ria's Maria the team from the Gengar, William, Markus, Fabian and so on so that was really great to be here again it was great to see you and I think we learned again a lot for us it was really amazing to see what people are doing with the technology what they are doing now also with the API which was really new this year and of course also with the graphical user interface with all the interesting projects which are coming up I can say that for me every time I see a new document and the new challenge and a new collection and the way to use it the project is every time I think fascinating it's really fascinating to see the treasures of archives and how researchers are dealing with this and which questions are important for them and it's really amazing to see this coming to be concerning the band and project that there's also a very big thank you to the band project and Philippe and Louisette because they were also part of the first and one objective was to to set up something there are this transcription transcription project goes in the direction of technology but it always turned out that if you touch a running project it's really a major challenge and still the work is done media wiki but my feeling is that nowadays it's really the switch maybe in 2019 we will see this coming into being but the rest of the input we got from their models yeah so thanks again and I hope to see you or at least some of you next year maybe here maybe in another place we will see but definitely we will have an extra user conference and I'm already looking forward for this thank you


And welcome everybody back to the independent investor channel for my reaction to the panel discussion that was provided last night by upper management. Very well received as a share owner in the company shed a lot of light on multiple aspects of the roadmap going forward so certainly want to close the book on 2023 on a high note. I can enter into 2024 with some marked momentum. Here this is the day after the webinar took place volumes up about 5x prior to to lunch so it'll be interesting to see that you know there was about 110 patrons to the webinar last night there was about 160 who registered. That speaks to the work that needs to be done on the outreach and the wherewithal that a dural clean technology exists. I think that the progress that's being made on the customer engagement front really stuck out to me. That presentation by Eric Appleman actually was kind of a wonderful highlight as far as what I took out of the webinar explaining the the value cycle and how a dural is going to play a part in multiple facets of the value cycle and how even some preliminary discussions with the government big plastic producing companies as well as recycling waste waste recycling facilities are kind of kicked off. And I took away some pretty cool one liners from Eric Appleman. He gets really in depth and then he kind of summarizes what he's what he's saying in a very interesting way of understanding some pretty technical information and I think he really does a wonderful job. Speaking to investors on the same token I thought that the CEO did a wonderful job of marshaling the message by his CFO as well as his CRO Eric Appleman. I think that O.J. was also on the call as well as a dyke and just appreciated their input, but Ofer did a great job in really setting up parameters I really gleaned a real emphasis on speaking to share owners in understanding why certain shares are disclosed right now and other things are not why this has to be looked upon as a long term opportunity and not a short term opportunity and I'll just double down on that and speculate a little bit. Those who are selling the shares now sub $1 or sub 250 probably are in it for the wrong reasons, and I'm not suggesting that you will not make money short selling this company, selling in the short term. But I think anybody who has done due diligence on this company will understand if they don't get bought out. And certain pieces fall in line the way aduro and specifically Mr. Appleman explained the potential here in what aduro is trying to do inserting themselves in the value cycle. I think the sky's the limit. I certainly don't want to be overblown with this. I don't want to jump up and down. I don't want to declare victory this early because from my perspective and my lens I think it's incumbent upon all investors to understand that from now until 2027 it is going to be a building of moving would be clients from the lowest tier level into more of the collaborative stage and then more of the written agreements going forward and over did a great job of explaining that and Eric Appleman he referred to that that tiered strategy that they have and it really kind of defined for would be investors. The roadmap going forward and if it weren't for the identification of the five customers right now engaged in their customer outreach program. And the 20 additional potential clients that they have dossiers on. I think I would have considered it to be a failure, but that additional outreach was something that I alluded to in my video right before the webinar. I'm using with aduro to really put some granularity around the impact over what the customer engagement program is rendering, and that's what it meant to me is that these efforts through commissioning our to is absolutely working. I would expect that for every of the 20 customers that aduro declared that our companies along that value cycle that have demonstrated an interest in the company as specifically the technology that there is a probably a significant amount more of interest that is going to be generated over the coming years. Eric spoke about kind of warning share owners or at least preparing share owners to stand by for roles. I think he actually said that it was something that I picked up on. But I'll share a few things that Eric Appleman said in his one liners. Now, I think one of the big takeaways is to really understand Eric did a great job of introducing himself for those that did not know his background 35 years in the industry. His time with Unilever and his time as of late at Brightlands where there was a number of different startups and a number of different corporate initiatives that they were working on with regard to the plastic recycling problem. And I don't think it deserves to be understated and and Eric would agree and has outwardly said a couple of times that he chose aduro based on all of his holistic knowledge about what was coming through the early stage pipeline. And looking at the aduro technology on the onset and he mentioned two years to fail. So that just speaks to the observation period that he had in looking at the aduro clean technology and maybe having an idea that it was too good to be true. But I had I quote he says two years to fail, and they failed to fail. I just found that to be interesting how that rolled off his tongue to suggest that it was too good to be true, and that when it was put to the rigor of of actually validation. He was also quoted in that webinar as as discussing the technology and its performance to be better than what he even assessed on the onset of being introduced to the aduro clean technologies. And I found that to be really, really interesting a couple more that I'll share with you guys who have who were not privy to the webinar. I would encourage you to kick over I'm not going to release the webinar through the independent investor channel. However, I found the promotional video at the end to be very suggestive in how aduro is going to couple itself with large and powerful infrastructure projects going forward. Mina Bache did a great job of kind of discussing this collaborative effort. I think in no short order Eric kind of alluded to aduro as being somewhat of a startup. I, I, I don't know if I share entirely in that sentiment in that aduros got over a decade of evolution. And albeit I do agree with him from the perspective that it is a relatively unknown company and it's $60 million market cap. I think the runway going forward is extremely promising and very positive. So from that perspective I do agree with Eric, but the prospects of what these guys are trying to do and in their careful deployment of capital going forward. You know, the original investor presentation alluded to the prospects of, you know, doing some of the commissioning on their own and I don't know how much of the commissioning work. I would expect to involve multiple facilities out there both small medium and large scale projects are going to be carried out with the assistance of big industry I would expect that aduro bringing their technology to bear and inserting it along that solution based perspective that they have just to share kind of another perspective that Eric Appleman picked up on and it wasn't in my cliff notes for the folks that actually covered this he said he thinks from the customer back, not all about themselves. And what he meant by that is to step back for a second and and you know, as I cover the microcap space, it's always a story about what they are doing internally. So what we're doing, how we separate ourselves from the masses of companies that are trying to emerge with their respective technology, or their respective claims on on different, you know, avenues of whatever they're trying to bring to bear. And it's never really about looking at it from the customer's perspective. We don't have the greatest technology out there. But if it doesn't serve an end customer, then what are we talking about we don't have a company here. And I found that to be really really telling to Eric Appleman's experience. He is looking at it from the lens of the customer and what a duo can bring to the table as far as their scale down approach, their high efficiency approach, their low energy input, which absolutely renders itself economically viable. Not only that, but the feedstock that is going to be in such demand here over the next couple of years. He called it the Max Carbon Adams in a true Eric Appleman form. And that just speaks to the high input of the feedstock and then the rendering of the material being rendered at such a high, high efficiency. In other words, you don't lose a lot through the process. So not only is it economically viable but also that you render over 90% of the of the product on the back end through the through the production of the the high yield usable product. That's something else that really stuck out to me. And then I'll go over the cliff notes for you guys that didn't actually get to enjoy the webinar again. Please spend 60 minutes of your time catching it it was extremely insightful, especially the portion where he walked through the benefits of hydro chemical technology and it was it was really really compelling on his expertise, his command over the topic and and really if I understood a duo to be separated from the rest of the competition out there. In that webinar I actually felt much more separated from the industry right now in that what Apple Eric Appleman referred to as 70 year old technology that's trying to be deployed with a necessity in the industry for new methods and new ways of capturing the maximum amount of through the deployment of these different processes. And I thought that that was the most telling takeaway ends really separating a duo from the pack and understanding what what type of, what type of technology we're looking at here. And for a quote that came up I have not seen anything that comes even close. And that really just speaks to his perspective he talks all the time about, you know, questioning the technology when he first looked at it. Now having been with a duo for the last six months and really kind of getting intimate with the technology and truly understanding that this isn't just a one off. This is a very, very real and viable solution. And up until now one of the notes that I had from our close network is that all of these goings on, all of these programs game changer was touched upon last night a little bit but all of these customer engagement has yielded a net of zero negative feedback thus far in the validation the customer outreach going on times five now, and then moving on out of stage five to stage six of the game change your program. I'm really encouraged that that program is still ongoing. I want them to extract every bit of benefit out of that and if it takes a couple of months more to determine the best way forward at the completion of game changer, I'm all about it. I really would ask that share owners stop asking the questions about things that have already been answered with regard specifically to game changer I know everybody is excited I understand that, you know, if we could just have some color it may lend itself one way or on what we could foresee going forward, but as offer disclosed last night, there is sensitivity, not only sensitivity around the topic but they have entered into a kind of a silence agreement with shell as appropriate. It's non disclosure while they're in the process of it and I think everybody needs to respect that and understand that in due time, the share owners and the shareholders and anyone interested will be provided that color on the game changer program, when it is appropriate to do that so and not prior to the reason I ask that is because there would have been some other questions that I specifically would have had that probably would have been better served in the bank of 150 questions that was submitted, and we keep asking the same question over and full well knowing that in respect to the program itself, there's not a lot to be lent outside when it is appropriate to do so. My question was specifically surrounding the financial health of the company both short term over the next six to 12 months. And also to elaborate a little bit on where we see the financials of the company materializing over the course of customer engagement there was a one segment that offer talked about the little bit of revenue that will be generated through the customer program but if you picked up on offer also said and talked about the potential of these customers to move from, you know, a simple application to more of a mid tier application and then more of a collaborative effort on the high end with some of the major suppliers those projects could render, you know, upwards of millions of dollars in revenues and he broke that down into a tier of understanding where where this company is looking to define their swim lanes, and really look out where they're looking to exploit as they build this good baseline and portfolio of clients out at this particular juncture. I will go over and try to summarize some of the cliff notes that we took these were provided to me, I think carbonomics had something to do with generating these if not yes on from our community. It is a good time halfway through this reaction to the webinar. We will be having a panel discussion tentatively this Saturday. So you're going to want to stay tuned. Before I button hit the notification bell because we're going to come on and we're going to do a prerecorded but release the same day. Panel discussion between myself is on penny queen and finally Mary use who has been very forthcoming with providing this information to to would be patrons to the message. If you're interested in the story, those are following the story and even more so perhaps maybe even looking to join the community as a share owner in the company alright, but increasing the size of the team in Canada USA Europe and Mexico I spoke about my conviction. Really when I look at Eric Appleman. I was almost like the Chicago bowls traded away Michael Jordan and a duo picked up on Michael Jordan. I was really blown away by his delivery last night. I really was. I think that he probably was able to say about one tenth of what he wanted to say. I really do. I think this guy's passionate about the topic and it really does transcend in his message and I. I'm a very, I'm very insightful when it comes to sitting back as a share owner and understanding I thought that over had very good command over defining those swim lanes so you know he interjected a few times. I was thinking about and I sensed that to be what he wanted to convey to share owners during the panel and I really appreciated that I think that you know there's no way once you set a panel like that in motion that the message it's going to be conveyed perfectly, but they really had a slam dunk last night and on a number of different facets. The most specific takeaway for me was the effectiveness of the hydrochemolytic technology. When he went over that slide and it was a little bit difficult to see it was a fairly small I actually took a snapshot of it with my phone. I went and enlarge each of those cells of really understanding Eric made a comment last night that some of the impurities actually help further the technology along. And I just keep picking up on these things and I'm intimately listening for drawbacks. I'm trying to understand if there are deficiencies with the technology. There were seven types of plastic I didn't know how they interpreted PVC, being such a significantly light portion of the overall plastic that's produced, right, and that Aduro could handle with ease those types of plastics but it did not generate any need or necessity because it just does not make up the mass of the polystyrene polypropylene polyethylene right that make up the vast majority of the hard to recycle plastics, and Eric really did a great job of separating that historically they have been close to impossible economically unviable to to to recycle these hard to recycle plastic, and that Aduro really kind of had no problem at all, the dealing with the contamination, the high yield on the end that is produced. And I just found that to be really one of the key generators and one that I actually anticipate going back on and engaging in a little bit of self study on the 20 corporates and the 50 startups were part of the surveillance Camelot campus when Eric Appleman was there, he spoke about, you know, his interest in Aduro joined the Aduro team, and and and since he was introduced two years ago to the technology. I found that to be really telling two years to fail. They failed to fail. I thought that was really smart way of kind of quantifying his, his, his, you know, critique, and his skepticism, as I believe that a lot of people probably have skepticism, you know, maybe they've been burned in the past, maybe they've engaged in microcap investing. All this is just another too good to be true story. I think at the end of the day, my friends, you're going to have to come up with a consensus on your own. I have already made my convention, but can, can conviction call into suggest that I, I sense nothing more than truth coming from this guy in in talking about a industry that they don't mind putting up to one of the largest petrochemical companies in the world to be subject to a game changer program, and to have no doubts in their mind that they were going to start and finish that program and it's looking like they're going to do that. We'll have to stand by for color on that. But the five active customer engagement projects really helped clarify for me the best I could tell in my due diligence was at three. There are five, one of which we know at the other four I will not speculate on until a duo chooses to announce that to the grander audience, and then we will pay that forward to you guys. We have five billion dollar petrochemical or oil companies we know that three of those customer engagements are plastic producers themselves. One is a plastic converter, talking with a consumer goods company. This was the part where Eric Appleman was walking around the value cycle and identifying all of the different players in the circular economy. This was always a question of mine, where is a duo going to fit in this category. And Eric talked about the ability of that that chemical segment to be kind of a new addition. If I've got it on my notes how I found that to be really, really telling. But the, the, the chemical aspect or the chemical production facility or the purification facility or recycling facility as being kind of where Aduro was going to drift toward to provide some value in that that cycle. Alright, there's high interest in the industry. We all know that there are currently 20 active engaged dossiers on those companies Eric talked about that. I don't know the level of those commitments. I only chalk that up as to be a net positive and one that Aduro felt comfortable with releasing to the general public last night. That is on the top five companies. All right. Oh, that is in addition to the five companies that they're engaged with with already. Appleman mentioned the technology works even better than he originally thought it did when he joined. We've talked about that. That was a takeaway for me when he said that Aduro has not failed one evolution metric so far in these engagement programs. I talked about that as well. That was a takeaway for me as well. So when I read these cliff notes, I was like, okay, right on. I picked out the right stuff when we talked about this. Going into 2024, obviously you'll have to come up with your own thesis for strategic outlook. What really stuck out to me is when they talked about the three tiers or the three levels of the different customers, the kind of the easier to satisfy lower slice, the mid tier as we start to get into a little bit more complex needs from the client. And then the top end collaboration that will be necessary in your more and your most complex projects. One thing that stuck out to me is that they skipped a year. They skipped over 2024. They went right to 2025. They skipped over 2026 and they earmarked 2027. This is in line with the investor presentation released by Aduro up to this point. So they have stuck with that timeline. What it suggests to me is that this company is has a long term vision is looking to extrapolate the data over R2 to prolong the customer engagement process. As long as they need, they will use all of the renderings via data to the construction and the commissioning of R3. R3 expected as early as the end of 2024. I'm not holding my breath on that because again, both Ofer and Mina talked about the importance of using that data as a real catalyst into R3. The design of R3, the size, the complexity, everything that is being gleaned off of R2 and those customer engagements needs to be honored. Okay, but convert existing customer engagement participants from technology evaluation stage to the technology collaboration. I think that really sets some nice swim lanes around investor expectations and understanding how Aduro is being introduced to the client, whether it be at the lower mid tier and even possibly jumping right up to the collaborative stage. But really being able to tailor their product to the more simple of applications and the mid tier applications and then the more complex applications. I found that to be really, really telling and a real key takeaway for me work on the designing building of R3 through 2024 expecting to have R3 ready in early 2025. Expand the company's IP position, adding two to four more patents in 2024. I think that's great. One of the questions in the Q&A alluded to the moat that is existing around the hydrochemical technology. We all know about the patents that are already registered and protected but the learnings that have gone on and are being validated and have been validated only give Aduro that much more of a runway. In way of a head start in way of really implementing what they can tend to be one of the best solutions in the marketplace and I have no reason to suggest otherwise. During the Q&A I thought it was pretty good. They talked about the different varieties of plastic but really a lot of takeaways here a lot of nuggets a lot of notes that I took. You know, I made some interesting notations here when Eric was talking about the 1000 euro charge off for the European companies for every ton of plastic produced as kind of a look if you're going to produce this you have to give us some assurance of this being the government to really kind of put a down payment on what historically has been proven out to be the end all fate of plastic and that's in the landfills or in the oceans, because they are just not economically viable so Aduro can can sport the ability to bring in that feedstock and interject themselves in that value cycle that Eric talked about, then those have a chance of really saving a lot on the bottom line for a lot of these companies. All right. The new class of chemical facilities that's what Eric said that's I was trying to find out in my notes. Again, along that value cycle suspend a few moments in review of that slide that was presented by upper management last night. So too much to unpack. We're getting close to 30 minutes on my initial reaction. Obviously I'm very, very satisfied. Aduro doesn't have to do this. I think that you can tell and you can get a sense that they are very, very excited about the prospects going forward. I think and I will close with this. If you're invested in this company. The hardest thing to do in this company is going to be hold, not to buy. The hardest thing to do in this company is not to sell for a profit prematurely. We saw a little bit of that today, as we speak, selling for 90 cents. I think that could be one of the most regretful moves, more so than not even entering into the position in the company in the first place. I think that can be a really regrettable and premature decision to sell out of this company without realizing its full potential. You've got three years. Ask yourself, my friends, where do you want to be in three years when you reflect back on this aduro clean technologies opportunity? And moreover, where is it that you presume to be in observing what you heard last night and what the prospects are going forward for a clean technology as they tackle the plastic problem? Because I appreciate you tuning in to the totality of this video. Leave your comments at the bottom of this video. Leave your reaction to the webinar. If you did not have a chance to check out the webinar, please do so. I make it required content. If you're following the story as intimately as I am and content that you are doing your fair share in due diligence, it is absolutely not an option. It is rather required of you to review that content, pay attention to it, and hopefully you'll glean the bullish perspective that I was able to glean at the conclusion of the webinar. Guys, thank you so much. Appreciate you tuning in for the totality of the video and good luck in your investment future.


Hey everybody Dr. O here in this video we're going to cover the anatomical position and directional terminology. So first what is the anatomical position? Unless you're told otherwise you have to assume your patient is in the anatomical position when we're describing locations of different structures.  So that's the anatomical position. If she was resting her arms at her side like you normally would that would be called a functional position that's going to be used a little bit more in kinesiology. So that's the anatomical position. Before we jump into the individual terms I just want to kind of explain the rules. Number one you see the left and the right there above her head. So it's always the patients left and the patients right that can be confusing when you're looking at an image the right side of the page is going to be the left side of their body so always keep that in mind it's the patients left patients right whether you're talking about directional terms where blood vessels are etc. So that's rule number one rule number two directional terms don't mean anything in isolation. So directional term is always something in relation to something else. So if I were to say that my elbow is inferior that doesn't tell me anything because inferior to what my elbow is inferior to my shoulder most of the time but it's superior to my wrist. So remember directional terms are going to tie two locations together. Alright so those are the rules let's go ahead and jump in and cover some of the terminology here then. Let's go ahead and start with the front and the back. So there are two ways to describe that. We have anterior versus posterior and we have ventral versus dorsal. So anterior means towards the front and posterior means towards the back pretty straightforward. But in a human in a bipedal animal like a human ventral and dorsal mean the same thing because ventral actually means towards the belly and our belly is on our front and dorsal means towards the back think about like a dorsal fin on a shark or a dolphin. So dorsal is going to mean towards the back. So ventral and anterior mean the same thing dorsal and posterior mean the same thing but that's only in humans. Now if you were taking a class where you're learning about four-legged animals their belly would be towards the bottom right so that wouldn't wouldn't be correct. But ventral and anterior towards the front dorsal and posterior towards the back. Now let's go up and down. So first we have superior which means towards the top and inferior which means towards the bottom. So those words work just fine. But you're going to see on here as well cranial versus caudal. So cranial means towards the skull which is obviously on the top and caudal means towards the tail. So you'll actually see the term caudal again learning about the nervous system. The cauda equina or horses tail is the long nerves that dangle below the spinal cord. So caudal means towards the tail. I do want to add one more term here. Another term that means towards the top would be cephalic. So cephalic means towards the head which is obviously on the top. So cranial, cephalic and superior all mean towards the top and caudal and inferior mean towards the bottom. All right so that's cranial versus caudal and then we have our front and back. Next let's do medial and lateral. So medial means towards the middle, towards the midline. Lateral means away from the midline. So those are pretty straightforward. And then next on here we have proximal versus distal. This is a very important one because this is the best term, the first term you should use any time you're describing a limb because proximal means towards the trunk, closest to the trunk and distal means further away from the trunk. The reason those are such important terms is because they're always correct. If I were to say that the elbow is distal to the shoulder that's always right. But if I were to say the elbow is inferior to the shoulder it's not always right. Standing in this position is true but if I raise my hand over my head now my elbow is superior to the shoulder. So whenever you're describing limbs think proximal and distal first. All right so those are most of the critically important directional terms. I have a couple more terms I want to add here though and that would be superficial versus deep. So superficial means towards the surface, distal means further away from the surface. So pretty straightforward. If you're thinking about structures like your skin would be very superficial compared to your colon would be deeper. So the more layers you have to travel through to get to something the deeper it is. And then two more really important terms and that would be prone versus supine. So if you take this person that's standing up and you lay them down if they're laying on their back they're supine. If they're laying on their belly their stomach they're prone. So what I think about just remember when you're supine you're on your spine. That's the simplest way to remember it.  And then for me when I think of prone I always think about the cool little green army men I played with when I was a kid and when they were prone they were crawling on their bellies. But whether that works for you I can't say. Alright so that is the anatomical position and those are your key directional terms. I hope this video was super helpful. Have a wonderful day. Be blessed.


Let's jump over to our man, Teddy Kegstad, as we do every Wednesday at 40 past the hour from forex-trading-unlocked.com. Teddy Kegstad. Good morning. Good morning, Tommy. So last Wednesday, Teddy, I was talking to you. You were on your beautiful balcony with the foliage. And this week, I'm on the balcony, man, talking to you for some beautiful backgrounds, but quite a difference in the markets, man. We have a lot to digest in terms of Friday the action, of course, and then this week and yesterday's action with Chairman Powell. Where do you want to kick things off? Well, what a difference a week makes, huh? Well, why don't we start with the end? So we can tie it all together. So when we spoke last week on Wednesday, I was telling all your viewers, stay away from holiday markets. Probably good advice for most people after what happened. So... Remarkable. Yeah. Yeah. So while now it's kind of interesting, Thursday was the holiday obviously and then Thursday night and to Friday was where everything happened. So let's digest what really happened. Now, obviously, they were hot, thin holiday markets, okay? We had a huge move in the interest rate market. Obviously, we had a $10 sell-off in oil. So what did that do? It knocked around, well, for one, the interest rate move impacts the dollar to begin with. Then the oil move also shook up all the, you know, remember, we had the oil trade on for like the yen, the Canada insert, different currency crosses. All of those were impacted huge. I mean, you can tell by the chart in the end. I mean, it was kind of funny because Thursday night, I had a short-term sell signal and we were right below my 116 target. You know? So I'm thinking, well, you know what? It's a holiday. I'm just going to liquidate my arms and just put a couple of shorts on and just risk the high. I'm like, it's a low-risk sell and we're right below my target, right? Wake up the next day, catch a $3 move. Whoa, what was that all about? You know? So... And so these moves don't happen, you know, typically unless there's like news. Holiday exacerbated move on a thin market, short hours in the U.S. And what have you going into a weekend? Now obviously Monday, Tuesday was the digestion period where we're at right now. You know? Now oil, you know, it's the COVID scare. That's what's going on right now, you know? So we haven't had, you know, if we start to see lockdowns in the U.S. Obviously, and keep on pushing around the world, I mean, Germany and Austria are not looking good right now, you know? So that's where we are definitely having the COVID trade back on the table. But I would be leery of this oil sell-off. Now I know I've been a bull calling for $100, you know, and it's not about right or wrong here. It's about what's the reality of things. Unless we're going to have a slowdown in pace with everything, especially globally, oil has just taken a nick. This is a knee-jerk reaction to fear, you know? So kind of like what would happen after months of what was going on during the COVID trend when we were trading lower and stuff like that. The fact is that supplies of oil are not, oil is not running out. Oil is just not getting to where it needs to go. So the question of demand is there, you know? So I think that's what you're really seeing with the yen, you know, especially as far as most of the currencies. And let's start with that one. So we had a nice correction, okay? We're coming off of multi-month highs, you know? A two, three-day sell-off does not a fair market make, you know? And especially with the extent of the range that happened over Friday and even the volatility on Monday and Tuesday, you know? So at these levels, here's what I'm looking at. You know, you look at the dollar index, okay? That peaked obviously last week going into the holiday.  So I'm looking at all of these moves right now as a correction, not as a trend changer or anything like that because what's changed in the world? Nothing, you know, except for the fear factor, you know? So I think that's what we're trading on right now. I'm still bullish, the US dollar yen overall. I think that was a good buying area long term. I mean, unless oil continues to get a slide, but I don't really see oil getting below 60 bucks a barrel, let alone into the 50s anytime soon, you know? And even if it does, I think that'll be an exacerbated spike and you'll have a balloon underwater rally. So I'd be very careful getting caught with these, what I'm saying are corrections right now. I think your counter-trend trades, you have to view it as that. And manage it like that as well. Yeah, I love the take, man, and even on crude, which is remarkable. I was just playing with some Fubanachi numbers, Teddy. And if you take the run, it's a remarkable run and not even going from the COVID lows, you know, where it's down at six bucks or negative prices. After you consolidated, when you take the price where you go from basically the breakout of the markets in November of 2020, you pull up a 3-8-2 folks of that entire run, OK? And that run starts at $35, basically, or even lower, $33.64, I have on my chart, up to $84. We've just touched, Teddy, a 3-8-2 retracement, which is a pretty standard retracement on that pullback that we had from 84 bucks. And it's a quick pullback, I agree, back to $68. But it's important for that context sometimes. I don't know if you heard the start of the program. I'm kind of trying to bring listeners into the same thing when you hear pundits like Kramer saying, you know, it's too late to sell no matter what you're talking about. And folks, you got to look at a long-term chart here and see where we've come, see where we've gone. I wouldn't allow even a sentiment like that to come in my head, Teddy, right? Like, I'm not sorry at times, but you start thinking it's too late to sell when you almost you have the biggest company in the world at all time, high as Apple, remarkable resilience. You have the S&Ps within two or three percent. You know, I don't know the exact number. It's two or three percent, you know, basically, as we chop around here. That's one day's move, Teddy, you know, on the market action. So in the crude sentiment, I kind of agree that, listen, if you don't think a 38 percent retracement is capable when we're at negative prices up to over $80 a barrel, basically, of course, a pullback, it's important, folks. OK, so good take on the end. Well, what other currencies are you looking at this week, Teddy, with everything else that's kind of in play? I would I would definitely watch out for the pound, you know, that we saw it. I had a buy signal in the Euro a couple of days ago. So that's that's why I think this is a correction. When you when you look at the dollar index, the major currencies are the Euro and the pound. The Euro, obviously, is set a short term bottom. It has is trying to have a nice little correction. The pound is bobbling off the lows. Like it looks like it wants the bottom, but it also looks like it wants to slam the lows again. You know, now I am short term bullish. The pound, you know, I'm not very bullish, but I can see a nice little correction over the next. I think the dollar is going to be under pressure for the next week or so.  Now, you mentioned Paul, we heard something out of his mouth now as over the past couple of days that we haven't heard yet. Inflation is here to stay. That's huge, you know, by the Fed taking that stance. That means now they're going to do or lean towards, which I think is always the wrong thing in an inflationary environment, is to raise interest rates. Of course, we can't cut rates because there's nowhere you can go anymore, you know. So and I think you have to watch the bombs like the activity we've had in the forex market. You had a three. This is where we're especially going into Thursday. You know, after we spoke on Wednesday, you had a three dollar move into 30 year treasury bonds on a holiday market off of no news, a rally. OK, so that's where you've that right there gives you weakness in the dollar that set us up for weakness. Then you had the sell off of ten dollars in the oil market on a Friday holiday market. So when you combine that level of market action in those two variables, which the interest rate trade is always on the table for the forex markets, the oil trade we know we've been talking about it's been back on for a couple of months. It's there. So when you have that level of movement, you know what I'm saying? It's sure to shake up the other ones. So now, as long as like I'm saying, as long as in the short run, oil stabilizes kind of where it's at. You don't see an interest rate move that I think you're going to see a bounce in the pound. So you get a rally in the pound is very likely to see a continuation in the euro, very likely, but not very extended. The US dollar Swiss is the one where I think you're going to get some more. Teddy, hang with us for one second. All right, because we're going to break. We'll be right back. We'll be right back, folks. Welcome back, folks. We get the S&P's up 48 points right now. We're talking to our man, Teddy Kegsdad. And Teddy, I just didn't want you to have to rush through that because I like the way you were working through each one towards the end. They're just talking about whether it was, you know, the crude, the pullback, the forex markets, how they were reacting. If you could just continue with what you were saying there. Well, so the Swiss like the end was one that got batted down pretty hard. I think it's an overdone break, but I still think it's prodding the lows right now. And like we have the oil numbers coming out today. Oil is up a little bit right now on the day. That's what's really dictating these trades, as far as, like I said, I think it's a correction. So I think you're going to still see the US dollar Swiss tread on support for the next couple of sessions or so. And then we get to we already spoke about the Australian dollar, New Zealand dollar, those are two that are just in the gutter. I would be very careful with any bounce in those markets, period, right now, especially with the lockdowns in Australia. US dollar Canada, that's a touchy trade. It's been pressuring resistance right now. And I think a lot of that has to do with with the current trend of what happened over the past couple of sessions. You know, I'd be very cautious buying the US dollar Canada right now. That's a very touchy one. It's in the middle of an area where long term it's a bear still. It's in an upside correction. And there's just too many variables there. It's hard to lock in a trend on that one. But the thing I think you really need to key off of is that right now, all these markets are in a short term correction, or at least you should view it as a short term correction and not a trend change. Never try and pick a top. OK, that's important. And especially with the way the bonds and the oil market have moved these markets over the past week. If you start to see a big sell off the 30 year and the 10 year bond, and if you see oil get another five, six dollars higher back up into the 70 mid 70s or something like that, we're back on the regular trade where we were a week and a half ago, meaning that dollar bulls will come raging back. So and markets tend to go out like they come in.  Don't think that if those other markets turn, that we're not going to see the yen back up at one 15.  You know, it's not. I love the way you walk it through, man, understanding how the commodities are driving the currencies or driving the action. Well, Teddy, we appreciate the update, man. We look forward to talking to you next week. All right, have a great one, man.


Welcome folks, we have the Dow Industrial trading up 7, Nasdaq is up 50, S&P is up 11, Gold contract up $9.30, traded $18.27 an ounce, we have Silver up 43 cents, $23.25 an ounce, Light Sweet crewed up a buck 25, $82.39 a barrel, notes and bonds, the 10-year note, up 6-tick trade in 128.19, the 30-year up 3 at $1.50601, now what happened here is the 30-year got back inside its higher range, 10-year has a way to go but looks like it's clawing its way back, $king dollar, $king dollar finally gave it up man, $king dollar broke its consolidation, you down 710 ticks, you're at 94.913, Euro breaks out, that's up 82 ticks at 114.49, yen breaks down, 114.39 and the British pounds at 137 breaks topside, those currencies folks, that's putting the juice behind the gold, the silver, the commodities and I expect that's going to continue. We take a look at the S&P, so what do we have yesterday, yesterday we went to a higher price, you had a contraction of volume, bottom line we got another contraction of volume, you get higher price, I expect you're going to keep going up the rest of the week, we'll see what it's going to shake out, bottom line, spy, spy can get up to its highs, right now you're at 470, NDX100, I don't expect the NDX100 to get up to its highs, the reason being is that the NDX has already showed we have two lower highs and three lower lows, that's the downtrend, so I suspect the NDX, we'll see whether the Qs can make it up to the 397 to 400, right now you're 387, gold, gold contract caught the bid, bottom line, it had already broken out of the consolidation, failed the first time, up at that point again, I mean it's definitely out of the consolidation, but the bottom line is that last time it failed was at 1833, we're at 1827 right now, 168,000 contracts, not bad, I suspect the next leg up is 1881, we take a look at the silver market out here, what you have with silver, silver is always more volatile than gold, that's for sure, up 43 cents, decent wide price spread, 50,000 contracts, let's see what we're coming into here, come on baby, okay, yeah that's good contract volume, not bad, the last highs up here had 46, and then let's get over to King Dala, come on baby, give me that King Dala, so King Dala got the break, that's a decisive break, wide price spread, if we had volume, I suspect we'd have volume also, nice breakdown Tom, stay right there folks, come right back.