Hello Extraders and we are going to do a quick recap of the tickers that we set out to analyze and trade in the month of November. Those were Bank of America, Occidental Petroleum, Pfizer, AT&T, and maybe XLF, but in the end I actually just stuck with Bank of America. So okay, so let's dive in real quick here and switch over to Bank of America. So I actually am a little bit late to this recording, this is today is Tuesday, this should have been done on end of Friday or even Saturday of last week, but I was traveling so I didn't get a chance to look those and record a follow up or trade review so here it is. So as a lot of tickers the general trend has been down, but we were bullish on AT&T and the reason we are trading defensive, we call these defensive stocks on November is because we expect the defensive sector to be the one to bounce first, even though tech high growth stocks will bounce eventually, we expected this sector or this really type of asset which is usually blue chip companies, very solid, slow growth, more oriented towards dividend and organic growth than the other ones. We expected these to be, excuse me again, something that we could play more to the bullish side. So this is basically the chart on the daily for AT&T and we saw that this broke out above this shorter down trend which is kind of an inverse megaphone or like a wedge and it broke out of it quite bullishly and it's starting to take out, remember we talked about swing highs and swing lows, so it was starting to take out a couple, actually this one was unable to take this previous swing high but we did, we finally did here. So the reason why we took it is because it basically broke through this swing high and so if it was going for that second one which it did last week which was like November 3rd, November 4th, then we figured okay then this is pretty bullish because it already took out this swing high and it's going to take out this swing high so we were probably expecting it to take out this one, that one and that one which is why we have them charted, okay so let's zoom in and I actually just went ahead and updated these on my mobile on, was it Sunday night I think? So I've actually, I did two things, okay so if you look back to the video starting November week one you'll see that we took long plays on all of these and that was because in October we were mostly bearish and we were looking at Neo and we were very bearish on EVs and tech and high growth and speculative and China, we said okay now we're gonna go for some longs but if we're gonna go for longs it's gonna be in a more stable type of asset and that's why we chose these defensive stocks so I had only played the upside in other words I only drew up a trade plan or you know this little trade tool thing I only set them up for the upside and what I did on Sunday night was that I actually adjusted this for this week obviously because this is basically the review of last week that's what we're gonna do right here and then I added the downside play as well okay so just to make sure that this is what we're looking at because what we're gonna do first is go over last week's which was basically here let me go ahead and draw a rectangle to get you guys's focus on this okay so this is the first Monday out the gate I'm gonna go ahead and draw this Monday Tuesday Wednesday Thursday Friday there we go that's the trading week for oops that didn't work out well Thursday Friday there we go there we go okay so that was a training week the end of the week the one that we're reviewing today this the on on Saturday or Sunday I review the plays that we took the previous week okay so Monday Tuesday were you know days that didn't really do much Wednesday was a little bit bearish and and then Thursday and Friday Thursday one is when the CPI came out so you can see how it it just really took off and and a Bank of America stock really really dug those CPI numbers you can see was very bullish Thursday and Friday of course so was everything else pretty much that was one of the key things about this rally was that it was very broad so it covered a lot of sectors so it's it's it's deemed to be a stronger more stable I guess you could call it or basically more positive rally if it encompasses every sector because you're basically you know you're basically saying okay the economy as a whole is gonna be driving upwards not just a particular sector so this is the banking sector but in the Thursday and Friday rally I believe the the breath but it's called the breath of that market rally basically the industries that it covered the number of tickers that were up versus down which is you'll you'll usually see them as gainers versus versus losers you know it was very broad across every industry so it was very very positive very bullish and there it is so and I believe our play which has now moved because I again like I said this one was actually the one on this is the one that I already drew up for this week which is the second week of November but if you recall these were our our previous levels this one here was our target at 3869 ish and this one was our entry at 3751 so basically this would have been down here like so all right so that is what Bank of America did the entry level was right here at 3747 we definitely entered on Thursday and we closed in on Friday and it was very bullish and very profitable trade okay so what we do remember we draw these and we're gonna start with a with a fresh one at the end of this video with a couple of tickers that I drew up for this week we're only gonna use as examples but basically you know you find your levels and once you find your levels you decide which is the next resistance above the current price target that needs to be broken and then the next resistance above that is your price target okay and if you're gonna play to the downside then you you pick the nearest support to your target to your current price level that needs to be broken in order to head back down to the next support below that as your price target okay so this was the week obviously very bullish starting on Thursday and Bank of America did extremely well I believe I did take that trade and I posted it in the X trades app okay let me hit undo here and reset this where it was okay so basically what I did was at the end of the week here I grabbed my long tool and I moved it up so the next resistance is my you know my entry to break and the next the next resistance above that is my price target alright so that is what we did and we also added the downside place so what happened during this week this is already Tuesday so let me see if I can grab this tool here carefully move it yep okay there is Monday and I don't like the way this snaps to the candles but whatever so here's Monday and here's Tuesday and basically hasn't done much okay so it opened 38 bucks and it closed back 37 it opened 38 or so bucks and it closed down 37 again you know so it hasn't really done anything this is going to be very choppy and we are still I am still bullish on this because I do expect this to take off tomorrow after the PPI print the PPI which is the producer price index is basically a precursor to the CPI in the sense that whatever gets manufactured also incurs in increases increases in price so there's also inflation on basically on the supply side for companies that manufacture stuff so or provide services as well so that is going to be the print for tomorrow and and this is still going to be my trade plan either to the upside or to the downside okay so again the it's just a rinse and repeat you know you find your last candle you look for support levels which we've gone through how to draw them above 1 2 3 4 5 support level resistance levels above 1 2 3 4 5 support resistance support levels below sorry and basically you know you just move your trade tool up and down all right and you take the trade either way of course that's the technical the simplest technical part of it you have to add into that as we mentioned there's a lot of other technical analysis that goes into you know giving you an idea of what momentum is like if it's oversold or if it's overbought I ran into a few indicators I'll make a video probably at the end of this month dedicated exclusively to some of the new indicators that I've been looking at and and and so there's a lot of you know we talked about the trend being number one number two the support and resistance levels number three you know the indicators the and the price patterns that you can find so we haven't looked at any price patterns yet you know I normally when the market is this choppy it's kind of hard to get a price pattern in like in this case there's really nothing even on the daily you know that doesn't look like anything other than you know is broke above this inverted megaphone or whatnot but there doesn't seem to be a whole lot of price patterns at least not on the daily so just for fun let's drop into the one hour and then we'll move on okay so this is going to be like I said the video that we'll get at the end of this week that's the basically the first half that's Monday and Tuesday right there okay so this is the same see what I'm trying to find is if there's any price patterns that might pop up because we haven't really seen any in the ones that we've been looking at it's not like you look for a price pattern and then try to you know try to stock because of the price pattern at least that's not what I do so I don't see anything here that I would consider you know a clear enough price pattern to say oh okay this is a you know inverted nothing descending ascending nothing a flag or anything of any kind so nothing on Bank of America okay but the bullish played definitely played out last week and this week we haven't been able to enter any of the trades because it's just basically been it's been a no trade it's been you know hanging around this you know demilitarized zone or whatever zone where it won't be a trade to the upside won't be a trade to the downside okay so let's switch over to oxy so Bank of America was a winning trade if you will oxy was a trade that let me zoom out to the daily that we did not end up let me see here we ended up not taking it basically because it didn't break through our entry level and because we only had yeah because we only had the bullish play on since last week then it was a no play last week or a no trade sorry okay let me see here zooming in here quite a bit okay all right so we had been seeing oxy trade in this channel and it had basically this is last week so this is this ad here this is Wednesday so this is Monday right here so basically Monday started out pretty bullish but it didn't reach and I believe that I actually didn't move the the long trade tool for this week I left it intact so this was our opening on Monday and even though we did close a above even though we did close above I actually there was profit enough if we zoom into the one hour there was a little bit of profit enough that we if we would have taken the trade I actually did not take this trade to be honest let me see here I believe it was see so this is Monday Tuesday right now this is Friday Thursday Wednesday Monday here we go right here I recognize this pattern so this is where the entry this was our entry level for the previous place so I actually did move the trade plan for this week but sorry this was the level this was the entry level so there were I remember it because there was enough of so let me see you can check the video if you guys want to 74.99 more less and it did open I did close above this so there was some room for profit up to here and then after this point it just went underneath and it hit our stop loss I believe it hit our stop loss right here just you know remembering what I saw on Sunday night I remember that this little bullish candle on this POC line was when we actually stopped out so we would have gotten in and made some profit if we would have taken that profit considering this level as a short-term resistance otherwise we would have gotten stopped out of our trade right here and once we were out of the trade then it basically just melted down to Wednesday Thursday and then it never really closed back above this 74.99 level so that would have been our oxy and basically what I did is actually did adjust the long and I added the short and this is what we're in right now again a no trade it didn't close significantly below the entry level it didn't and never broke through this resistance up here but I am still rather bullish on oxy for the rest of November and December actually so I'm gonna keep this as a bullish play probably into next month okay so that was one winning one losing trade sort of losing because we actually we got stopped out but Bank of America oxy the next one I believe was Pfizer yeah and then the last one was AT&T so here's the Pfizer Pfizer was also a play that did not go well healthcare in general okay so here is what it did starting Monday on Monday the 7th and this is the one that I actually left the play the way it was so this was a no trade as you can see this was sorry that's Friday there that's Monday did not break our entry or did not close above that entry this was Tuesday same thing this was Wednesday Thursday even with the bullishness of the market it did not close above and then Friday it closed right on it but obviously on Friday we probably we definitely not probably we definitely would not have taken a Friday expiration remember that all these trades that I'm working on have end of the week Friday expiration dates okay so I left the same trade plan and this was actually in play today and I did not take it I wasn't ready but if this closes if this opens above and you know it very well might above our entry level of 47 60 something tomorrow Wednesday I'll actually take this I'll actually take this especially with with what's going on over there in Europe I'm definitely going to take this up towards that 50 level so I'll be watching this one tomorrow sorry this is Pfizer this is not oxy so if this closes again like I said if this closes above our entry which was 47 60 ish I'll definitely take this play and and see if I can write it up to the 50 because again these are defensive stocks I expect people investors to be you know diving into these assets for dividend for safety for you know slow growth versus stable growth so it's that's the trade off and and Pfizer is a very solid candidate okay and actually if we look eh you might this is what we're talking about you know you don't want to force it too much but I believe where the trading patterns I can't I haven't used them in so long I believe that might be an inverted head and shoulders right here so from here to here although that's that's a big stretch I didn't really draw that right okay all the way up to here alright you see that and how it closes right in line with that neck and unfortunately so that's a lopsided inverse head and shoulders so that would be the play and if it if it breaks above this level here although this is a very short term support but if it breaks above this which would be basically this swing high right here that's I got quite a bit of room to run I would actually take this trade tomorrow like I said if it opens above our entry you know unless there's like some not any like unforeseen catastrophe then I will go ahead and take this play and ride it out for a couple of reasons one for the inverted head and shoulders which is a little sloppy I'll admit but I'm still very bullish on Pfizer I just might give myself probably another week so I wouldn't I might I might actually spread out the rest so I might do like a 50 call on this Friday's expiration which would be let me see I'm really bad I think it's the 18th right 15 16 17 18 yeah I would do like a 50 call for the for the Friday expiration and I would do probably also do a 50 call for the or I think Pfizer trades and halves so there might be like a 50.5 I might do the 50.5 for next week so I'm actually gonna write that down because that is actually like the way that one looks the 50 call and the 50.5 call okay so that would be our long play for Pfizer and this would be our downplay I'm not really expecting anything to be too negative on health care so let's jump over to AT&T real quick because we're running out of time and there we go and that's on the daily AT&T was very bullish last week and it blew our targets and it actually bounced right off of our target I believe and then it ended the week over here okay but we did we did come out with sorry this was the this was last week sorry right oh my goodness let me zoom in on that okay so there we go okay so I believe this is Monday right there okay so Monday and we basically just went up all the way Monday Tuesday Wednesday and then CPI Thursday and Friday was right there and this is where we not only hit our resistance which is a which was a long-term resistance but we also ran into this supply zone and it seems to be wicking off of that supply zone so it doesn't seem like it's going to go through it unless you get probably with tomorrow's print we might get if it was if it does come out a positive PPI then we might get enough push to go through at least through this supply zone and probably hit somewhere around 20s so that's our trade plan right there it's actually right it did close above so this should have been an entry so I'll take it again I didn't take any entries today I was having issues I think I kind of still am having issues with my profile on x-rays so I didn't take it on the app but I I do think that this is obviously there's there might be some bullish room tomorrow enough that it might go to the top of that zone or at least to that fib right there which is the 50 fib so based on how it opens tomorrow I just might like you know enter all of these trades tomorrow Wednesday instead of you know on Monday and Tuesday when you get CPI and PPI and big economic reports where the like coming out on during the week it's actually I mean it's more risky because it's basically a high volatility event so it's very it it sometimes behooves you to wait it out I didn't do it for that reason I did it because I just came in like I said from from a from a long trip and I didn't you know get all my affairs sort sorted out on in this morning enough to you know focus on trading that was why I was unable to take any of these trades but I will definitely jump in tomorrow if things look positive okay so those were the four tickers that we said that we're gonna analyze on in the month of October and the other if I can recall what they were onset medical I can't remember if it was omt or OST yeah outset medical there it is oh wait a minute where did it go so maybe it was OM sorry man this laptop is just really slow okay so there's outset medical and the reason why I picked this is because I basically heard some good news on it I but and it did have like very good earnings and I actually like what this company does but that's kind of thing to trading unless you're doing it for the long term but there that's a very bullish you know bounce you know who whatever you know trading experience you have I mean that's that's pretty solid right there and it definitely took out this high as you can see these are all the highs that I marked I did this on mobile and I up I uploaded it but it didn't look very well so I actually took it down but took out that high it took out that high it took out that high and sorry it didn't take out this high it's kind of bouncing off of this high so that is actually my entry point is if you can see right there I'm gonna zoom in again that is basically because this is on the daily that is basically these are two that I added in November just because I had the time and I was on mobile when I read the article or heard the podcast I remember what it was I think it was a podcast and and this is what it did on Monday so it it opened up you know remember that this reported earnings on last Tuesday so it was still bullish Monday and even today Tuesday and it did not break our entry so this will have been a no trade as well as you can see to zoom in more geez okay all right well that's pretty close let me go ahead and drop down to the four hour okay so it did not break our entry so that's a no trade and actually bounce right off and you can see how it wicked I know really hard over here last week on Friday off of that level so that's very that's a that looks like a very very very significant resistance right there so it looks like a very good place to set an entry of course I set this before I set this before the week started actually on Sunday night so I'm still thinking that's that's pretty bullish and there's some room to run here between the 19 and the 21 so I will also be like I said looking at this tomorrow which I will have more time to focus on trading and keep my bullish position on OM and the other one I'm not sure if I wanted to do the four hour yet but okay I think it was TWI which is Titan international yep that's the one okay so here's the plays that I set up on Titan and that one did not do very well to the upside but it hasn't done bad enough that it's a play to the downside now I did these very quick and I did them on mobile which is actually one of the first or if you look at my entry entry to trading video now what one of the things I stress them you know you know very very strongly is do not trade on mobile I didn't have the option but I didn't trade these I was setting it up because I was expecting to be able to come in with enough time this week to actually review these plays but obviously that did not happen so I probably skipped a few over a few levels and that's also why there's at this is a no trade I probably skipped over a few levels in here and that's why it's just been you know kind of bouncing around like ping-pong and I haven't gotten entry signal and that's fine you know sometimes it happens and it's actually better because if you're just gonna have you know a stock bouncing around you know buying options is definitely what you do not want to back to the theta that we reviewed in that other video the Greeks video theta is is not something that is something that you will definitely lose if it chops around look at this I mean it's been since the beginning of November when it closed at fifth the end of yeah end of October beginning of November close at 1514 and it's currently 15 days later at 1486 you know if you had taken a call on this thing the only day you might have had some profit would have been this one and any other day you know theta would have just killed you because it's been bouncing around and the closer you get to expiration then the quicker your option contracts lose value if they don't reach and or break past the strike price so this is definitely not something you want to see on an option or yeah on an option tradeable chart I guess but let me zoom out here because this is definitely and this is trying to find a pattern here for you guys not much thought it was a flag for a bit but no this is not looking I use this as an example to basically just draw support and resistance levels so I'll just go ahead and do that on another video but that's what this that's what I used this ticker for now the longs are still that the long and the short are still there but I doubt that they're gonna hit you know this week or maybe even next week so I'll just do another video probably in December reviewing how to you know basically going over our steps are yeah each step in our process which I believe I outlined in the spy chart so let me to end this video let me get out here okay and even go to the weekly on spy okay I have to clean these charts up okay so let me find where my text is this is not what trading views for but I put my text all my steps here and I can't seem to find them this has already happened to me before but I do remember that I I created a PowerPoint and I'll basically review each one of those steps at the end of December at the end of the year for you guys yeah that's not here I don't I honestly don't know where it went but basically it was okay so you grab a chart you know and you look at two areas technicals and fundamentals technicals is okay yep this is an uptrend definitely okay of course this is on the weekly timeframe but this is an uptrend for sure and then you start what kind of technicals you look at well you look at the trend uptrend in this case not from here on from here on it's definitely downtrend but you know just to get a clean area of the chart okay so this is an uptrend okay and then number two you start drawing swings which are important price levels or actually you start drawing support resistance levels and one way to draw support resistance levels is to look for swings because swings are important price levels so that's a swing high that's a swing high that's a swing high that's a swing high and it keeps going right so all of those are swing highs and highs and highs swing high swing high for example you don't look at anything in here because this is not a swing high it's not higher than this high it's lower than that high so that's not considered swing high so it's not considered an important level at this time frame and you keep drawing those and those are gonna be your important levels you also draw your swing lows okay so if this were a downtrend then you would draw all the swing lows number two the second way to draw or to locate to support resistance levels is to look for areas with many touches which kind of stand out to you because for example actually right here where I left it look at this area right here the 210 on spy I mean it was definitely resistance in 2015 it was resistance over here again in 2015 it was resistance again here 2016 and then it broke above here in 2017 all right and it didn't go as low here but it got pretty close to that 210 level all right and it definitely wicked very close to it in 2020 with the pandemic right in March of 2020 so that is definitely a support level it stands out you can see another one right around here okay you can see it was support support support support and barely broken resistance and then resistance right here and then resistance which was barely broken right there okay so that's another important level the 281 and then once you've got swings for levels and you've got multiple touches for levels then you want to try to confirm that by using the fib tool or at least that's my strategy you grab the fib tool and then you draw okay from the lowest you know and this is depending on the time frame that you're going for from the lowest point to the highest point during that time and usually that will line up with important levels and so you can see that there's an important 185 level right here okay and it definitely looks like it was good support there there and there again support three times all right so once you've added all your levels okay you continue with your technical analysis and you look at price patterns right so the best price pattern I can show you here and I haven't been finding many of those lately in the individual tickers but I do have one very big one on spy here which I want to try to bring into focus all right here it's this downward megaphone okay which you can see is outlined by this bottom trend line and that top trend line so it just kind of once it reached this high this all-time high it dropped bounced up it dropped bounced up it started dropping it didn't quite reach it could still have bounced up and then it could drop again okay and if you find price patterns like that this is one of the weakest ones but you know you got your inverse hand shoulders your head and shoulders your bow flags your bear flags your ascending and descending triangles and wedges and whatnot then that just basically adds to your support levels you know it basically tells you okay okay then if this is a support level right here you know because this is a down trending channel and it hits this level which is also a support level which I've drawn here let me zoom in on this okay so that's how you you bring these these things together so that you get a higher probability of a trade working out okay so let's look at this right here okay this is obviously quite in the past because this is a weekly but this was coming down off the top of the channel we'll get how strongly that gets rejected right there and then just dives here bounces a little bit and it hits down here again okay so this is definitely a channel that's forming here and it reacts to it and there's also a support level here and here okay once this thing bounces above that support level so it's bouncing above this horizontal line here of support and above this dynamic or down trending megaphone here then you can have a higher probability of being right that this is going to head up towards the top of this channel okay once it hits the top it's very probable that it's going to head back down okay and then it back it goes back up okay when it's at its obviously the highest probability is that it will go back down okay and how do you determine which is the highest point or the lowest point while you look for those support and resistance levels okay and that's why we draw the support and resistance levels based on different different types of statistics the fib statistics the multiple touches and the swing highs and swing lows okay so once you've identified if any price patterns on the chart then you go and you look for indicators so I remember that we mentioned so if you're coming here and you add let's say you know one of the ones that people use a lot the MACD indicator so it throws it down here at the bottom and this is going up okay and this makes sense the MACD is showing some momentum to the upside now of course it will probably think about it this way it's still on its way up okay to the top of this down trending line it might have some more room to go until it oops until it reaches the top of that trend line which is probably when this MACD is going to hit the center line what in the world hold on a second I don't know what's going on here okay so it's probably the the moment that the price on the price chart hits the top of that trend line will probably be when this MACD indicator is somewhere near this zero line and that is where when it's you know it's crunch time it's either going to hit that top trend line and then head back down which means that this MACD is going to do basically this it's going to start curling up as it is right now and then it's going to head back down okay and it might do it again and then when it hits the top of that trend line it's going to just head back down or it's just going to bust right through if there is enough positive market news for it to do so okay so that is the whole reason of why we draw these support levels and we look for patterns because we want to find out which is the area of highest probability that a trade if it goes up above this trend line or down to the you know to the bottom of that megaphone it will be profitable in either direction okay because if you take a trade somewhere in the middle here then you have a lower probability of this going up or down okay and you could make some money definitely there's money to be made from here to here but it could also just you know break up okay so once you do that then you look you've got your trend you've got your support levels you've got your price patterns and you've got your indicators and then once you're done that is basically the wrap-up for the technical analysis part and then we move into the fundamentals and then fundamentals we look for market news sector or industry news upgrades downgrades economic data that also moves markets and and we add that to the mix and that is how we decide which is a more likely profitable trade or which direction would be a more likely profitable trade so in this case it's probably more likely that you don't take a trade here and wait for it to actually reach the top of this trend line and wick off of it the way it did here or breaks above it for the long for the long call or the bullish calls all right so that's where I'm going to close it off at and I hope these reviews are helping this the trading strategies sink in and and then I really do expect that I will be able to place these trades tomorrow finally so I will see you guys in the next video


One of the most powerful extensions of the derivative rules is known as the chain rule. This is a true power tool of mathematics, and like all power tools, unless you use it carefully, you can make a real mess of things really quickly. So the chain rule appears in connection with composite functions. Suppose f of x is p of q of x. What is f prime of x? And the answer to this question is given by the chain rule. So if you want to find the derivative of a composite function, it's going to be the derivative of the outside function, p prime, evaluated at the inside function, q of x, times the derivative of the inside function, q prime of x. Now, this formula is wonderfully compact and terribly misleading, so let's do a few examples. So let's find the derivative of f of x equals 2x plus 7 quantity squared, and since the chain rule is a power tool of mathematics, let's make sure we're using it correctly. So the chain rule tells us that the derivative of a composite function is the derivative of the outside function, evaluated at the inside function, times the derivative of the inside function. Or a better way of looking at this is this is the derivative of the last thing that you do, evaluated at the first thing you did, times the derivative of that first thing. And so this leads to the following approach to evaluating the derivative of a composite function. First, remember that the type of function is always determined by the last operation performed. And so for the first part of the chain rule, we can ignore or drop out that inside function completely, then find the derivative of what we see, and then apply the kindergarten rule, which is put things back where you found them. We took the Q of x out, we should put it back in, and also multiply by the derivative of the thing that we just wrote. Okay, so let's apply that. Our function is a squaring function. So what we'll do is we'll ignore everything except for the squaring portion, and so our function is now squared. And now we want to find the derivative of squared. And the important thing is that the chain rule says just differentiate that normally, but then multiply by the derivative of, which will be 2 to the first, times the derivative of. And now we invoke our kindergarten rule, put things back where you found them. Originally in this, we had 2x plus 7, so every place we see will write 2x plus 7. Now this does leave us with some unfinished business. We have the derivative of 2x plus 7, so we find that derivative and simplify the algebra to get our derivative according to the chain rule. Now it'd be great if this were the actual derivative, but let's check by finding the derivative using another method. And here we might use some algebra and note that 2x plus 7 squared is the same as 2x plus 7 times 2x plus 7. And this is a product, so we'll apply the product rule and find the derivative. But this is different from the form that we got using the chain rule, so we'll have to do some algebra to see if they are really the same thing. And we see that after all the dust settles, the derivative we get from using the chain rule and the derivative we get that we know is correct using the product rule are the same. And so we have some confidence that our use of the chain rule is correct. How about the derivative of something else? So first of all, it'll be convenient to write this in exponential notation. And since the last operation performed is a cube root, this is a cube root function. And again, for purposes of finding the derivative using the chain rule, it's convenient to ignore all but the last thing that we do. So instead of thinking about this as x squared plus 4x plus 7 raised to power 1 third, what we can do is we can drop out everything except for the last part, raised to power 1 third, and think of our function as tz to the 1 third power. So what's the derivative of tz to the 1 third power? That'll be 1 third tz to the 2 thirds power times the derivative of tz. And we invoke the kindergarten rule, put things back where you found them. And we still have a derivative we need to do, so we'll find that value of that derivative. And everything we do after this point is in the manner of algebraic cleanup.


Personal finance practice problem using OneNote. Life insurance calculation based on child age. Prepare to get financially fit by practicing personal finance. You're not required to, but if you have access to OneNote, would like to follow along. We're in the icon left-hand side practice problem tab in the 10030 life insurance calculation based on child age tab. Also take a look at the immersive reader tool of the practice problems, typically in the text area too with the same name, same number, but with transcripts. Transcripts that can be translated into multiple languages either listened to or read in them. Information's on the left-hand side. We're calculating how much life insurance we need, noting that in prior presentations, we looked at online calculators that are often offered by insurance companies on their websites, and we noted that the different insurance calculators have different data input and often provide us with a different data output, which is not really surprising given the fact that you can approach this question, how much life insurance we need from many different angles. Therefore, what we would like to do is know the different tools, know the different approaches, and try to choose the tools and approaches that are best for our particular situation possibly than using the online calculators as a double check, as a guide to see if we're kind of in the bull park. Given that, we're going back to our data. We've got a married couple here, two children, child one, age three, child two, age nine. One spouse is not working, taking care of the home. So we've got the one spouse doing more of the earning, the other spouse doing, working on more of the home care, support needed per year. Now, this number, the 15,000, you might say, where does that number come from? That's not really our focus right here, but we could take it from the wages of the earner or we can take it as an expense, needed kind of calculation, or we might try to use kind of some heuristic in terms of an average number that is typically needed for particular situations. We're then going to have our rate of return inflation calculations. We'll use those in a little bit in the future. We don't need them right now, so I won't talk about them too much here. So as we're imagining a situation where the primary spouse passes away, we can think about what the cash flow needs will be for the other spouse and we can break those cash flow needs into different categories. The main category being what are going to be their cash flow needs on a year to year basis in order to meet their financial obligations. And then we could tack onto that, for example, one time kind of needs such as our funeral costs. We could tack onto that the needs for college tuition, for example, which is more of a goal oriented kind of calculation. We could tack onto that basically needs for the spouse's retirement if we so choose. But the primary thing we're thinking about typically is how much are they going to need on a year by year basis for cash flow in order to meet their current needs. As we ask that question, we've got one, how much do they need here? And this really isn't our main focus at this point. You could calculate the expenses or you can calculate your income, for example, we're focused up here in terms of how long will they need that amount of cash flow. And you can base that on different things. We could say how long we as the earner had until retirement, for example, or we can think about basically how long it would take for let's say our youngest child to reach 18 because at that point in time, you would think that the spouse wouldn't have to spend as much time on the childcare. And so that's one way that you could basically do the calculation. So that's what we'll do here. And again, you might say, well, they might need still some more support these days after 18 and so on. They might need college or something like that with a college calculation. You might then again do a different calculation, which you would add on top of this because that's a goal oriented calculation as opposed to a cash flow in a year by year need. So we'll talk more about that later. But we've got the kids, the kids are 18. And so age of the youngest child is three. So we're gonna say then 18 minus three, we've got 15 years of them being under 18. And you would think then would be needing more support up until that point. So we got 15 years, the support needed per year. We've got the 15,000. Again, this isn't our focus in terms of where did we get that 15,000? It could be based on your wages, could be a heuristic, could be based on basically expenses. So 15 times 15,000 is gonna give us the 225,000. Now note that if someone was to die, then you would get the 225,000 might be at that point in time, getting the payout basically at that point in time. So that might actually be a little bit higher because you might say, well, if they get a lump sum at the point of death that they're gonna need in order to spend for the next 15 years, they could invest some of that, the part that they don't need for the immediate cash flow. So you might say, well, is there a way that I can, you know, lower this for example, and then again, use this possibly as a baseline and tack on other stuff that might be included. We'll talk about later such as funeral costs, such as college tuition, such as planning for the spouse's retirement, if you wanted to think about those things and make it a bit more complex. So if you took in a time value of money and we did our present value calculation, and I won't get into too much detail with it here, just to give you the concept of it. And we do do this in Excel. So if you wanna work this in Excel, you can work it there. But we can do our present value calculation and say they could get the 172,761, assuming the present value conditions, which is gonna be a rate of return, 6%. We're saying that the inflation though is 2.5%, meaning the value of the dollar is going down by the 2.5%. So even though they're earning 6%, they're really only getting in terms of purchasing power, 6% minus the 2.5 or the 3.5%. So that would mean then if we present value, the cash flow needed, we get the 172,761. Okay, so let's kind of prove that to ourselves with the calculation down here. So let's run the table and say, what does that really mean? Well, one way we can think about it, let's take this number just to kind of prove that that works to us. We're gonna say the 172,761. And if we say that there's an increase, and I'm gonna take the net increase for the real rate of return to see how the present value calculation works, 172,761 times the 0.035, 3.5%, 0.035, that gives us our 6046, 6047. And then they're gonna be using or spending 15,000 because that's the cash flow that we said they're gonna need or the added cash flow. So 172,761 plus the 6047 minus the 15000 would bring the balance down to the 163,808. Now note, again, this is nice. I'll show you, we'll kind of make it more precise here because notice what we're using is the return after inflation, the real rate of return to see how this present value calculation works, really, in real dollars, they would be earning 6%, but the inflation would be eaten into it in terms of purchasing power. So in reality, and we'll see that over here shortly, how we can kind of estimate that calculation, they would be earning 6% on it, but they would need more than 15,000 in order to have the same purchasing power to buy the same basket of goods because it would be more expensive at that point. But let's just prove it this way first, prove that present value calculation. If I take this one, 163,808 times .035, that's gonna give us the 5,733 that they would be earning on it, so they're earning less per year, and then they're gonna use or spend 15,000. And so if I took the prior balance, the 163,808 plus the 5733 minus the 15,000, now they're at the 154,541, and then of course the earnings are going down, they're spending 15,000 each year, the balance goes down. Then the earnings go down, they spend the 15,000, balance goes down, and so on. And if we take that after 15 years, it's down to zero. So that's why this is gonna be a bit lower number that you might be able to still say, okay, that makes sense as opposed to just taking the 225,000, which isn't taking into consideration time value of money. Now to be a little bit more precise about it, you might say, well really what's happening is they're earning 6%, but then there's inflation. So it should look something like this. So it's gonna be 170, this won't be exact, but it'll give you kind of a general idea. So if you got the 172,761, and then they're earning 6% on it. So let's say that they earn a return of 6%, 172,761, and you probably wanna average, if you're doing this kind of calculation, a return of like four to 5% to be conservative, on the low return side of things, but it's up to you what you think, in any case. We're gonna take that times the .06, and that's gonna be the 10, 365 if they were to invest it, and then you'd have the fifth, really if it was a year later that they're gonna get paid in order to get the same purchasing power of the 15,000 in period zero, they would need 15,000 out 75. In other words, they would need the 15,000 times, inflation was point, or 2.5 times .025, 2.5%. They would need another $375 to deal with the inflation. So now we're saying, okay, we got 172,761 plus 10,366 minus 15,375. And so now we're talking like in future value terms with this one, whereas this one, we just used the net value to prove the present value calculation. So this present value calculation is really only kind of correct as of point zero, as of this point in time, and then this calculation is kind of proving it. And over here, we're trying to get, these calculations are given as kind of more of the future value of what we expect would actually kind of have to happen. So then we're gonna say that now they've got, they've got 167,752, and then they're gonna earn .06 on it. That would get us to the 10,065, but now in order to buy the same basket of goods, they'd have to spend, it'd have to take out more, right, 15,759. So now we're gonna take it was 15,375, but because of inflation, we're gonna have to say times .025, they're gonna need another 384,37 to deal with inflation. So we add that plus the 15,375, that's gonna give us our 15,759. So now we have the prior balance 167,752, and then they're gonna earn 10,65, but then now they have to take out more because of inflation. So now it's up to 15,759 in order to spend the same amount to buy the same basket of goods, which gets to the 162, let's do it one more time. So if I took that times the .06, that's gonna give us the 9,723, but now they're gonna have to spend more in order to buy the same basket of goods according to inflation. So 15,759 times the .025 is another 393 plus the prior balance of the 15,759, is gonna give us our 16,5 or 153. So we have before 162,058 plus 9,723 minus 16,153, that's gonna give us the 155,628. And again, you can do that on down and it doesn't work out exactly like this one because of the way we're breaking this out, but it gets you an idea of what's actually kind of happening here in terms of the returns and the fact that the payments you would expect would have to go up to deal with the fact that you would be spending more money. So these are great problems to work in Excel and we do do them in Excel, so check that out.


So, not surprisingly, there are different models for how you can conduct your EMI class session. In one, you might first do a language mini-lesson and a content lesson. That means that you can start with key vocabulary to have them study for homework. If you make this first warm-up activity interactive, that would be best. In this model, you can then do a mini-lecture on the content area, including the key vocabulary that students should know, and even writing the words on the board as necessary. And then you can do an activity that asks students to show you how they've learned the content, such as a quiz or a group discussion or project. In the other model, you start immediately with the content, such as a mini-lecture, and when you need to, you stop in order to explain key vocabulary or ideas. You can see with either method, you acknowledge that students are non-native English speakers and that they will need some extra support. It's just a matter of when you provide that support. That will depend on the course you are teaching and the students you have. That concludes our video about different models for how you can conduct your EMI class sessions. You might also have some other things that you've tried or talked to some of your colleagues about. Be sure to share ideas with others on ways that you can make your EMI class work.


My role in the FCC project is to lead participatory research, particularly looking at local knowledge about trees and agroforestry practices and to look at what is driving land use and land cover change both inside and outside the Virunga National Park. We're conducting field research and we're working with our local partner, which is WWF, the implementing partner. So WWF are looking at promoting energy woodlots around the park to reduce the pressure and we're working with them and with their partner associations, so tree planting associations, in trying to understand what species and what agroforestry options we could design to improve the delivery of ecosystem services. What we're hoping to achieve is to design agroforestry options that are suited to different field and farmers conditions to try to diversify both the types of species that are planted and for different purposes and to train technical agents of different staff in these different practices. Well outside the Virunga National Park there's very few forests that are left, so most of the forests are actually found in the protected areas. They're under severe pressure both for timber extraction, for charcoal extraction. There's also encroachment in the park for agricultural or pastoral purposes. Now outside the park we're addressing issues of soil fertility and erosion problems that are occurring on agricultural land and trying also to increase tree products both for nutrition or medicinal purposes or for home consumption or income. The Virunga National Park is, apart from being one of the oldest parks in Africa, with a very high level of endemism and very high concentration of mammal species and different forest ecosystem which are very important for global conservation. It's also an interesting park because it is located on the border with Rwanda and Uganda and it has been at the heart of you know several decades of political military conflict and which have meant that it's been very difficult to to protect the park. The Virunga National Park has an iconic species which is the mountain gorilla which is you know so it's receiving a lot of international attention for the protection of that endangered species. Ekrafis is providing technical backstopping to the project to help select or design tree selection and tree management tools so that implementation partners can actually diversify and match species to different farmers' needs and farm conditions because we're in an area with the high altitudinal gradient so very different agroecological zones within the same area so it's important to to select species that would match both the agroecological conditions but also the needs of farmers which can be different both in terms of gender differences or ethnic differences farm sizes. What one of the major challenge around the Virunga Park is that and one of the major driver of land use change has been the expansion of eucalyptus plantations for the production of both timber, firewood and charcoal so that's what most of the reforestation programs have focused on what we're trying to see is how we could address other other needs such as nutritional needs with with the promotion of fruit trees or medicinal trees and trying to to broaden the list of species and and not focus on a few exotic but but rather include also some of the native and endangered species that used to occur in the area. The approach that we're using is to integrate local and scientific knowledge about different tree options so that's that's why we've conducted two local knowledge studies looking at what farmers know what is growing in their fields what they know about it both in terms of their uses but also in terms of their management and and combine that so that's our goal to combine that with available scientific information with lessons learned from from neighboring countries where where there has been several interventions like Rwanda or Uganda with similar agroecological zones and and to to design these options these different options so that's that's how we go about it integrating local knowledge validating it with stakeholders and integrating it with scientific knowledge. So we've had a lot of of interviews conducted in the field we've also had focus group discussions and more recently we've we've prepared two participatory workshops or technical workshops where we've fed back the results of our local knowledge studies to local stakeholders so who are these stakeholders both the technical staff of WWF who are leading reforestation projects but also other environmental association other farmer associations local scientists extension staff the rule advisory staff so we've conducted these these workshops where we've tried to to look at the different agroforestry options and what were their you know what were their opportunities what were their constraints associated with them and and what were the solutions to these constraints and so what really stood out from these workshop was that eight people really increased their understanding of agroforestry as as a as being a diver you know offering diverse options opportunities for tree planting and you know outsides you know wood lots of monoculture also not focusing on just a few so-called agroforestry species like fast-growing leguminous shrubs but really thinking about how we can improve tree diversity and recover on on farm with different options that would be different according to to the different needs so you would look at improving fruit trees for example in homesteads but looking at erosion control on slopes and and also natural regeneration looking at different options so what's really stood out was people's perception of agroforestry really changed in the opportunities that it can provide for farmers. Sure there are clear differences so some of the tree products or uses such as timber or or beekeeping or male dominated sectors let's put it this way women on the other hand are more interested in in fruit trees but not just in planting the fruit trees but actually in adding value to these fruits by transforming it and and marketing it so that was another difference women are also more interested in the supply of a firewood as well which which is their main concern and also on improving soil fertility in their fields although they they have no knowledge gaps when you compare to to men in terms of their knowledge of different options that you could have for improving soil fertility. This year we've really concentrated on on collecting on collating local knowledge and understanding we validated as I've just said about with the with the participatory workshops now the goal is to is to analyze this this information and to combine it with what we know of agroforestry practices in the region and to design tree selection and management tools that are customized to to both the Lubeiro and Massisi district and and from which we can we can help partner organizations to to plant trees.