Well hello from the National Archives Public Programs and Education Team. My name is Missy McNadd and I'm an Education Specialist in Washington, D.C. And welcome to the National Archives Comes Alive Young Learners Program. You can find information about future programs on the National Archives website, archives.gov under attend an event and on the National Archives Facebook page. This morning we meet Ida B. Wells, portrayed by Marty Goble, actor, director and educator. On this day, August 26th, 101 years ago, the 19th amendment, the amendment that gave women the right to vote was certified by the Secretary of State. But did all women have that right to vote after August 26th, 1920? So Ida B. Wells is here with us who is a civil rights activist, a journalist and a suffragette to talk about her work in the late 19th and early 20th century in improving the lives of African Americans. And she found that having the vote was one of the keys to making a difference. In the holdings of the National Archives, there are numerous records related to Ida B. Wells. On this next slide are two letters. One is a letter that Ida B. Wells wrote to President Wilson in 1918. And the other is a letter to Senator Dawes that Ms. Wells wrote in 1898. Both of these letters can be found in docsteachdocsteach.org. On the next slide, we have the featured activity for today's program in docsteach, again docsteach.org. And we will share this slide at the end of the program. So this, we will have a question and answer session with Ms. Wells at the end of her session. So write your questions in the YouTube chat box. We have a National Archives staff member who is monitoring it. And let us know where you're watching from today. This program is brought to you by the National Archives Public Programs and Education Team, the National Archives and the National Archives Foundation. And now it is my great pleasure to introduce to you Ida B. Wells, a truly remarkable woman whose tireless energy and efforts work to make a difference in the lives of African Americans. Oh my, what a sight. The 1893 Chicago World's Columbian Exposition. Bridges, parks, canals, lagoons, over 600 acres. And all of these palatial white plaster of Paris buildings here in the court of honor. Thine alabaster cities gleam. Oh, and a giant ferris wheel over 300 feet tall. I think I'll stay on the ground. Thank you very much. The white city, mostly white people too. People from all over the world have come to see the wonders of America, mostly white America, but other countries have exhibits here too. The tiny Republic of Haiti has erected this fine building and they place the famous author and abolitionist Mr. Frederick Douglass in charge of it. If not for this, Negroes of America would have no part in the World Fair because the United States government has refused participation to her Negro citizens. I came to the exposition a few weeks ago to work with Mr. Douglass on a pamphlet to distribute here. The reasons why the colored American has not been included in the exposition. It is a clear plain statement of facts concerning the oppression of the colored people in this land of the free and home of the brave. With this pamphlet, we hope to show the history of our race and our progress since the end of civil war. Mr. Douglass has been so kind to me and has made me more or less his protégé. He's even given me a desk here. One evening after our work, he asked me about my life, wondering how one so young and a woman at that had come to be involved in the betterment of our race. I begin to tell him about my life. I was born in 1862 in Holly Springs, Mississippi just outside of Memphis. I was born a slave child. My parents were slaves. My father was the son of his own master and a Negro woman named Peggy. When he was 18, he was brought to the plantation and was trained in the area of carpentry. With the end of civil war and with the great emancipation, I saw my parents spirits thrive with their newfound freedom. But one day when I was visiting my grandmother out on her country farm, life became a reality to me. A letter came. Jim and Lizzie Wells have both died of the fever. They died within 24 hours of each other. That was as far as I read. I returned home to Holly Springs and found out that the baby, Stanley, had died. I was now the oldest of six surviving children. There was no one but me to look after them now. And I was all of 16 years old. Rather than put my family in foster care, I was advised to apply to teach and I took the teachers exam and was given a teacher's position in a small country school. After a few years, I found a better paying position in Memphis and for several years, I rode the train back and forth. But one day after a long day of work, I got on the train and took my seat in first class. The conductor came along and took my ticket. He gave it back to me, telling me that he couldn't accept my ticket there and that I would have to move to the smoker's car. I refused. I had always comported myself appropriate to my position as a school teacher and I would not move to the smoker's car. And I went on reading. He came back again, telling me again, I would have to move to the smoker's car and tried to bodily remove me from my seat. But I took my feet and scrunched them up against the seat in front of me and bit the back of his hand with my teeth. He did not try that again. He came back later with three men who succeeded in pulling me from my feet, also kicking and screaming. I was furious. I marched back to Memphis and engaged a black attorney to help me bring suit against the railroad company. But he was bought off by the railroad company. I then hired a white attorney and was awarded $500. The case was later overturned by the Supreme Court. And I was charged court fees, which totaled more than the 500 I was awarded. Because of this incident, I decided it was time to stand up and fight for my race. I had always been a voracious reader. I had read Louisa May Alcott novels, Shakespeare and the Bible all the way through. But I had never read anything about Negroes or anything written by a Negro. And here began my love of writing. It wasn't long before I began writing for some of the local church papers. Soon other noobs papers across the country began running my articles too. Then came a lynching that changed the whole course of my life. Before I get into that, I need to tell you that I had joined a newspaper, The Free Speech. They asked me to come in as a partner. I insisted on purchasing one third interest and became an equal partner on the Free Speech newspaper. It was this paper that allowed me to share the details of a horrible lynching that took place. My dear friend, Thomas Moss, owned a colored grocery store just outside of the Memphis city limits. Tommy and his wife were my dearest friends in town. And he believed, as did I, that we should fight for justice whenever we could. Tommy's grocery store had been very successful and there had been some rumblings amongst the white community that it was becoming too successful.  The black boy won that game and the young white boy became very upset telling his father about the incident. His father came and started abusing this young black boy. The colored men inside Tommy's grocery store came out to aid him. When the white people left, they went into town and word got out that a group of white men were coming to the grocery store to clean it out. Tommy and several of his friends stationed themselves inside the grocery store with shotguns, not to attack, but to repel a threatened attack. At about 10 o'clock, shots rang out. The men inside the grocery store saw a group of white men stealing around the back of the grocery store and fired shots on them. One of the white men was wounded. They fled and went back into town. I will never forget. The Sunday paper ran this headline. White officers wounded in the pursuit of criminals. Criminals, no such thing was true. My friend was arrested and placed in jail. That very evening, a mob of white men came to the grocery store, pulled them into the woods and Tommy was horribly lynched. When his body was discovered, his eyes had been gouged out and three fingers on his left hand had been blown away. I went right to the free speech and began writing articles about the atrocity of lynching practices in America. Because of these few words, because of hinting at the truth, a group of white men came to the free speech office, burned all the furnishings, the type and left a note saying that anyone trying to publish the paper again would be punished with death. Now, I was out of town at the time attending a conference in Chicago and letters and telegrams came from family and friends telling me to stay where it was safe. There were orders to put me to death. They had threatened my life for merely hinting at the truth. I was made in exile, but I decided that I must march on. Subjected to continued threats, I moved from Memphis to Chicago where I met and married a black attorney, Ferdinand Barnett. Sometimes you will hear both of my names either be Wells or either be Wells Barnett and this is how those two names came to be.  As an outspoken black activist, I faced regular public disapproval not only from other leaders in the civil rights movement but also from the women's suffrage movement. I traveled nationally and internationally on lecture tours twice to the United Kingdom where I shed light on lynching in America. From 1898 to 1902, I served as secretary of the National Afro-American Council. In 1909, I participated in the founding of the National Association for the Advancement of Colored People, the NAACP. I founded and became the very first president of the Negro Fellowship League which aided newly arrived migrants from the South. In 1913, I founded what may have been the very first black women suffrage group, Chicago's Alpha Suffrage Club. Several members and I traveled to Washington, DC to march in the women's suffrage procession in 1913. It was suggested at that time that we black women march together in the back rather than with our own state delegations. I refused and I waited on the sidewalk until the Illinois delegation approached where I was standing.  It was now beginning to move and be where it should have been all along for all of the people in the country be they white or black. So now my free paper, the free speech was no longer around, was no longer functioning based on the charges that were brought against me and the threat to my life. But I found that my work with the women's suffrage movement was just as important, just as important as standing up and fighting for my race and the women in my race. From 1913 to 1916, I served as a probation officer of the Chicago Municipal Court. I was militant in my demand for justice for African-Americans and in my insistence that justice was to be won by our own efforts. You see, I found that many times, African-Americans looked to white people to save them. My metal and my dedication to my people meant that I felt we had to do it for ourselves, by ourselves and with ourselves. This thinking and these thoughts led me in 1930 to run unsuccessfully for a seat on the Illinois State Senate. I didn't know at the time, but I was to die that next year in 1931 in my home of pneumonia. After my death, I was awarded a Pulitzer Prize Special Citation for my outstanding and courageous reporting on the horrific and vicious violence against African-Americans during the era of lynching. You know, many will feel that they have no obligation in any matter involving lynching or slavery or oppression or injustice of the African-American and other minorities. But I say to them, then you have made yourself a slave, a slave to oppression, a slave to indecency, a slave to complacency. I am reminded by a poem from the famous James Russell Lowe. I carry it with me always to remind me of its message. Men whose boasted is that ye are born of fathers brave and free. If they're breathed acely, are ye truly brave and free? Are ye not base slaves indeed? Slaves unworthy to be freed? Is true freedom but to break fetters for our own sake and with leather and hearts to forget that we owe mankind a debt? No. True freedom is to share all the chains our brothers bear and with heart and hand to be earnest to make. I want to thank you for letting me share a bit of my life and my work, but I must be off to hand out pamphlets. Come and walk with me if you'd like. As long as you're here, you might as well help out. Well, thank you so much, Ms. Wells. That's an amazing, I love the story and I love the poem that you used at the end. That's just wonderful. I'll have to look it up after this program, but thank you. And just to let you know, we've got folks from South Carolina, United Kingdom.   So I'm, did you vote then after the 19th amendment was passed? I absolutely voted. It is a part and duty of every American citizen to participate in not only local politics, but global politics. As I shared with you, I traveled around the world talking about our political strife and some of the atrocities that were happening in America at that time. It is the duty of every American to register their voice through voting in order for us to engender change. And I assume you've voted several times between 1920 and your, you know, when you died in 1931. Miss McNat every time that I could. Every time. That's wonderful. And that you were able to do so. And that is heartening because, you know, there were many issues after 1920, not only for women, but and men as well, African-Americans. So that's fantastic. And perhaps it was because you were in Chicago too. That might have made a difference as well. Yes, but you know, as I stated, I reached a time when I had many people that were unhappy with my fierce and loud objection to many of the practices that were happening in the United States, people from my own race and also from the women's suffrage movement. There seemed to be an air of wanting to ease in. I do recall hearing a quote that when you'll have your head in the mouth of the lion, it is best to withdraw slowly. This has never been my practice. So that kind of brings up the next question, the personality traits that brought about who you are that helped you to do the things that you did as, you know, Ida B. Wells, the kind of person that she was. And I think we see a lot of that in your performance, but you might elaborate a little bit on it. Well, I'm a small woman. And I found that it required at times that I have a loud voice. I have been known to possess a fiery temper and a quick tongue. I'm very passionate in my speaking and in my writing. Yes, and I think that came across when you and the person tried to remove you. You resisted and that's, I think that says a lot about your efforts and your commitment to what you believed in. And I think that's fantastic. So, and I bet some of our viewers can guess the answer to this question, but what person in later history had a similar experience to yours in a train? This happened after my death. But the powers that be have shared with me that a young woman named Rosa Parks also went through a similar experience on a train. I mean, excuse me, on a bus during the Birmingham bus boycott. Many of the details of her removal and refusal to move to the back of the bus were similar to mine that occurred on the train. Yes.  And you also mentioned that it was a bit of a struggle to continue your work with the children and how did you manage that? My family was wonderful and as the older children became more confident, they also helped to care for each other. But I did have families, some siblings that helped to care for them as I traveled the world. But they were very aware of my incredible mission and dedication to the betterment of our race. So I did spend a lot of time traveling and family as is the tradition amongst many African-Americans on this day helped to aid and support in that. And as they grew, they of course learned to take care of themselves a little better. Another question, were you ever scared in your efforts to bring about change? And did you ever think you shouldn't be doing what you did? Did that ever cross your mind? I never thought that I shouldn't be doing what I did. Not once. The only way that things can change is if people speak up and they speak out through my articles, many articles through church, church newspapers, through the Associated Press and through many local African-American papers across the country. I never backed down with what I had to say. There was great fear in me when the free speech office was destroyed, most definitely. And again, that led me to not return to Memphis. I stayed in Chicago. They had threatened my life, not just my livelihood, but my life and my financial security, every penny that I had in the world was invested in that newspaper. To have it destroyed became very difficult. And remember, I still had my teaching certificate. I did set that down after a little while through a series of events, but I continue to write always, even after leaving Memphis and living in Chicago. So the fact that you read the writings, where are your papers? You can find them. There are many that can be found through your local library. I would ask that you look for a paper called A Red Record. And that also has a lot of my writings concerning the lynching and the barbaric practice used by whites in the South to intimidate and oppress. That is a great one. You can find many of these things at your local library and also online. And what do you think was your greatest achievement of all the many, many things that you did through your life? My greatest achievement was to help the women's suffrage movement. Also, I was one of the very few women at the time to run for the Senate in Illinois. And that set off a domino effect of things. I'm very proud of a pamphlet that I wrote called Southern Horrors, Lynch Law in All Its Faces. This shared a great deal about what was happening across the United States at the time. Yes. Did you ever go to Washington and to Congress with your concerns? I mean, I mentioned that letter that you wrote to Senator Dawes, but did you ever go in person to talk or testify before them? I wrote several letters. I did go to Washington, but I spent more time with my own delegation. Okay. And then we have our last question for today. What is the advice that you would have for young people today? If Ida B. Wells were alive, what do you think she would say to young people today? To read, educate yourselves, not only on your own people, but of the lights and experience of others. In addition, if you see any injustice, then you may write about it. Write to someone, write to your Congress. You can even write to your own parents. Put down all of your thoughts about injustice, not only injustices, not only for yourself, but those around you, not only of people in your race, but other races, not only of people in your age group, but those that are older and younger. So essentially to boil that down, you must read and write. That's fantastic advice. And I know as the students are heading, some students are back in school already, but many are heading back next week. And for many of them, it might be the first time they're back in in-person learning in a long time. And that's exciting. But I do hope that during this past year, year and a half that they have continued to read, because I think that is fantastic advice. Whether, you know, no matter whether you're reading about something that you're an assignment for school or on your own, I think that makes a huge, huge difference. So, well, thank you so very, very much. Unless you have any last words for us this morning, you know, we appreciate you joining us and telling us so much about your life and all the amazing things that you did and how you made such a difference in- Thank you, Ms. McNat. All right, well, thank you so much. And you all, you have a wonderful day. Don't forget to check out our DocsTeach activity for the program today. And I think you'll enjoy it and look up those documents that I mentioned on IW Wells, but just do a search in DocsTeach and you'll find lots of things. And feel free, we'd love to have you join us for our program in September when we are meeting James Madison on September 16th. So yeah, here is our activity for today's program. And really looking at how women of color fought for women's suffrage. So, you know, as Ms. Wells mentioned, the African-American women were asked to walk in the back, although Ms. Wells did not, and that was fantastic, but the pictures, most of the photographs we have in our holdings really are just showing the white women who are marching. So this is an activity that really looks at who is not in this photograph, who is not in this picture and why. And then in September, on the last slide, we have the program with James Madison and that is on September 16th and it's connecting to the Constitution. Constitution Day is Friday, September 17th. So this is a look at how the Constitution was written by James Madison. So thank you again for joining us today and hope to see you in September. And for all those students and teachers out there, I wish you a wonderful year.


Gang, let's call the stream. Apologies if I missed a lot of conversation, but let's call it, okay? I think we said what needed to be said. Make sure you stand on the right side of history. Make sure that you can look at yourself in the mirror in the future and say you did the right thing.  Make sure you do not allow Wall Street to profit from their misery. Stand up for your rights, stand up for the rights of others. As the saying goes, once the right of an innocent person is trampled, everybody's right has been trampled.


What's up? I'm Max, and this is your Weekly Huddlers Digest, 90s edition. If you're watching this for the first time and want to know all the news in crypto, hit the subscribe button now. Ride sharing app Lyft launched a successful IPO this week, valuing the company at over 20 billion dollars. Perhaps this will allow them to guarantee their drivers a living wage, but let's be honest, probably not. Earlier this year, Lyft let its clients pay in crypto for rides to the hospital. Unfortunately, things don't look as great for crypto projects that want to do an IPO. The filing window for Bitmain's IPO expired this week, which means there won't be one. Investors who were promised almost an 18 billion dollar evaluation are disappointed and are preparing to sue Bitmain. This week, we spoke to Binance's CEO, CZ, about recent reports of fake trading volumes on CoinMarket Cap. If you want to know what CZ thinks about it, check out the video on our channel. And now to the news. We're going to talk about Weiss crypto trading, Irish coffee and metal giants using blockchain, Tim Draper in Argentina, and how to sell your ICO on eBay. But before we get started, let's have a look at the market update. Weiss crypto rating published its annual report with ratings of the 120 most promising cryptocurrencies and an assessment of the current situation in the crypto industry. The report, titled Dark Shadows with a Bright Future, suggests that, despite the risky situation for investors in the short term, the industry is moving in the right direction. In fact, compared to early 2018, the on-chain transaction volume of leading cryptos increased three times. The security and capacity of the industry's network have improved dramatically, and the underlying technology has evolved. The report contains two rankings, the first of which evaluates coins according to the criteria of adoption and technology, and refers to long-term perspectives. Here, XRP, EOS, and Bitcoin are leading with an A score, while Ethereum lags behind with an A minus. Due to difficulties in scaling, Cardano, Steam, NEO, Zcash, Litecoin, and Stellar all follow with a B plus. The second ranking incorporates the risk and reward factors into the previous one, thus considering short-term investment perspectives. In this case, the ranking changes significantly due to the unfavorable crypto price trends in recent months, and no coin was awarded an A. Again, EOS, XRP, and Bitcoin, as well as Binance, are leading with a B minus. Quite surprisingly, the top-rated cryptos in the report are EOS and XRP. While the first is challenging Ethereum to become the backbone of the new internet, the second is paving the way for a banking system grounded in distributed-ledger technology, with higher returns and increased protection for customers. We reached out to Martin Weiss, co-author of the report, and asked him for some more insights into it. So Martin, can you give us some more details about the methodology you used in your ranking? Let me start with the technology model. The technology model looks at the coin's potential to achieve high speeds, to achieve scalability, to achieve efficiencies, to achieve security, and so forth. Plus a host of other factors. The adoption model measures the actual performance of the distributed ledger in the real world. What are the main features to make EOS so strong? EOS has shown some remarkable growth since it launched its mainnet in terms, for example, of on-chain transactions, the volume of on-chain transactions. Those are not transactions in the exchanges by speculators buying and selling, they're actual usage metrics, and those have grown remarkably. In fact, EOS is now leading the entire space in the volume of those transactions. It's jumped ahead of Ethereum, it's jumped ahead of every other coin on the planet. So it's not yet at the same level of adoption as Bitcoin, but if you combine both the technology and the adoption, then that gives it an edge over Bitcoin based on our model. You know what it's like, you buy a $1,000 bottle of NaPoG Castle 1951 to enjoy with your friends after work, but when you open it to drink it, instead of the subtle notes of apple, it turns out to be actual apple juice. Hasn't happened to you? Yeah, neither to me. Well, if you do how to long enough to be able to find yourself in this predicament, don't worry, the answer is, as always, on the blockchain. William Grantonsons, a liquor company founded in 1887, plans to fight counterfeit liquor by tracking the entire distilling and manufacturing process from source to the store. Counterfeit liquor is no laughing matter either. The UK loses up to $288 million per year because of this particular crime. Ensuring authenticity is very important when you're dealing with such high ticket items. Recently, one of the less famous Koch brothers claimed to have lost as much as $4 million by mistakenly buying counterfeit wine. In other news, if you are a tea totaler and you have no interest in whiskey, I've got something for you too. The Coffee Board of India has launched a pilot blockchain project with the Ministry of Commerce to promote coffee production in the country. The aim is to better integrate coffee farmers with markets and to get rid of the middlemen. Do you mean baristas? The idea is that blockchain will improve transparency and traceability from bean to cup. The pilot phase will initially be rolled out to just a few growers, but if it is successful, it will expand to all 350,000 coffee growers in India. Recently, Tim Draper met with Mauricio Macri, the president of Argentina, in part to talk about crypto. In short, he advised Macri to legalize Bitcoin. The two men discussed the future of the Argentinian economy, which is in trouble, and the national currency, the Peso, is down 10% against the dollar already this year, and on Tuesday it fell to an all-time low. Things are so bad for Macri that he is now neck-and-neck in the polls with his predecessor, Kiuszner, who is the one many Argentinians blame for the current mess. Draper to the rescue? Unsurprisingly, Draper recommended Bitcoin as one way to improve it. Not only that, but you also argued that the leading crypto would be revolutionary for Argentinian banking, commerce, and financial systems. In fact, Draper was so confident about his beloved Bitcoin that while he was talking about the devaluation of the Peso, he made a bet. If the Peso would be valued more than Bitcoin, then he would double the investment that he has in the country. But if Bitcoin gained a higher rate than the Peso, Argentina would have to declare Bitcoin as a national currency. Now that's confidence in Bitcoin. However, it is unclear whether the bet was ever taken up. Draper may have found kindred spirits in the country whose main two exports are soybean oil and Lionel Messi. Argentina is becoming increasingly pro-crypto, recently agreeing to co-invest in several black-chained projects, backed by Binance Labs and Latin American crypto exchange, Latamex. CZ even hinted at the launch of a new fiat to crypto exchange in Argentina. Last month, Argentina took a big step when it settled an export deal with Paraguay and Bitcoin, which was worth around $7,000. Although Argentina is nowhere near the economic turmoil going on in Venezuela, the Peso is very volatile and the uptick in interest in crypto is consistent with the unpredictable economy. Late last year, weekly trading volumes on localbitcoins.com hit an all-time high of nearly $9.5 million, but more recently, trading volumes have been around $8 million each week. Russian giant Norah Nicol plans to launch a blockchain-based platform to trade palladium. As reported by Bloomberg, Norah Nicol's CEO and major shareholder, Vladimir Putin, is talking with Swiss regulators about plans to launch tokens through a Switzerland-based palladium fund. Putin, one of the richest men in Russia, is also planning to expand the idea to other materials. Norah Nicol is the world's top producer of palladium and nickel, and its interest in blockchain may pave the way for mass adoption of the technology in the commodities industry. According to Petanin, transactions in tokens are simpler and more convenient, and he is also talking with Russian lawmakers to try speeding up implementation of a regulatory bill for digital assets in his home country. In case the bill, wanted by President Vladimir Putin himself, will pass in the summer, then Petanin may launch the platform by the end of the year. Norah Nicol is also working on a second blockchain-based platform, this one designed for internal transactions. As Petanin pointed out, this will help Russia's central bank to test, on one company, the efficacy of blockchain-based systems, without affecting the whole economy. Distributed ledger technology has attracted the attention of many big players in the commodities industry, given their potential to reduce costs and administration times. According to the Financial Times' unnamed sources, the London Metal Exchange is endorsing a consortium of metal traders and banks in the launching of a blockchain-based system to track physical metals. The new system will provide a better picture of the flow of metals around the globe, mainly in response to environmental groups demanding more transparency. While declining to comment on this specific initiative, Matt Chamberlain, the CEO of London Metal Exchange, said the metals industry needs a tracking system based on blockchain, as a centralized database would give too much private information to the hands of its owner. If you are still dealing with ICOs in 2019, you're either crazy, stupid, or next level genius. I'll let you decide which type this next guy is. Ivan Komar is the creator of an ICO that never actually launched, attempting to sell his failed venture on eBay for the very reasonable price of $60,000. Sponsy, which to me sounds more like a shoplifter from London than the name of an ICO, is a decentralized platform that connects brands and events wishing to conduct sponsorship deals. Sponsy points out that it is listed on the ICO bench, a notable ICO tracker. We went to the site and Sponsy is ranked 2.9 out of 5, and just one expert evaluation. According to Komar, his lawyer advised him to develop a project before launching an ICO. And in hindsight, Komar admits this would have been a good idea. The listing ended on Friday, with one bid, but I'm pretty sure if you asked nicely, Sponsy could still be yours. We spoke to Komar about the project. So how is it going with the sale? So far we have received one bid, officially, but we are receiving many offers out of the auction, because some people want to communicate with us out of this system. The auction is a fact that Sponsy got covered and the press all around the world helped us to reach to many potential clients. We received so many requests from different countries, from North America and Europe and Asia. It just couldn't be possible without this media information that spread about us. How did you manage to build a product without an ICO? It was some sort of bootstrapping. It wasn't very easy for us. It would be much easier if we had raised some money, but it still was possible. We will have developed a product with more sophisticated functionality if we did raise some money, but given that we have not, we are trying our best to do it with our limited resources. Many ICOs that launched without a solid product behind them resulted in investors losing millions of dollars. So do you think everything worked out for the best? It was right from the perspective of the user, because it just wasn't a good type of thing to raise money from people without actually having a real product for them to show. But if we did end up raising some money before building a product, in our case we would have developed a perfect product and the fact that we have developed a product today actually proves it. Now that the ICO era is over, what can a buyer do with such a project? We have developed a great tech, it works and it allows businesses and users to collaborate within our platform. It can be used with both blockchain component and without blockchain component. Both things will work and it's up to the buyer to decide how to use the platform the best way. The sponsorship industry is a very popular one and the market size is growing and actually growing at a faster pace than a traditional advertising industry. This episode is sponsored by V-Systems. V-Systems is a general purpose blockchain database cloud platform. If you struggle to understand what that means, think of the Amazon cloud of blockchain with the next generation blockchain database, smart contracts, crypto assets, sidechain systems and a decentralized apps platform. The core architect of the project is Sonny King, the creator of the proof of state consensus mechanism. For V-Systems, he developed a new, more advanced performance-oriented mechanism called Supernode Proof of Stake, which has a scalable and sustainable infrastructure. Recently, V-Systems launched its coin sale on the joint launch pad of the three leading crypto exchanges, ZB, ZBG and BW, which have a combined trading volume of $2 billion. Check out V-Systems, the link is in the description below. And remember, always do your own research.  Let us know in the comments below. Plus, if you have a better idea for an ICO on eBay, post it and we'll get our experts to evaluate it and give you a minimum bid price.


Good evening as friends, welcome to the Hindu News Analysis by Shankaray's Academy for the date 23rd of July 2022. These are the list of news articles we will be covering in our discussion today. Now let's get into the discussion. See this article here, it says that the Apportion members in Rajesh Abba protested against the introduction of a private members bill. This bill is to repeal the Place of Worship Special Provision Act 1991 and this is the crux of the news article given here. In this context, let us understand more about private members bill with respect to the UPSC examination. First of all, who is a private member? See a member of parliament that is an MP who is not a minister is called a private member. Now it will be easy for you to answer the question, what is a private member bill? See a bill introduced by a private member, that is a member other than the ministers is called the private member bill. An important thing to note here is that a private member bill can be introduced in both Lokshaba and Rajesh Abba and the admissibility of the private bill is decided by the chairman in the case of Rajesh Abba and the speaker in the case of Lokshaba. So what does this imply? See it implies that both private members and the ministers can take part in the law making process in India. Now you may have a question, what is the bill called when it is introduced by a minister? See the bill introduced by the ministers are called government bills or public bills and know that public bill reflects the policies of the present day government. So from this we know that there are two types of bills that is the government bill introduced by the minister and the private member bill introduced by an MP who is not a minister. Now let us see the difference between the government bill and the private member bill. We already saw the first difference it lies in who introduces the bill. I hope you know the answer to the question. So moving on to the next difference. The second major difference lies in the notice period for introduction. See the MP who wants to introduce a private member bill has to give at least one month prior notice to the house secretariat. Why is this done? This is done so that the house secretariat can examine the compliance of the bill with constitutional provisions and rules of legislation. But this is not the case when it comes to government bill. The introduction of government bill requires only seven days notice. Okay. Now moving on. The third difference is with respect to the discussion of the bills. See a government bill can be introduced and discussed on any day. But a private member's bill can be introduced and discussed only on Fridays. This is the third difference. Now moving on to the fourth difference. This is with respect to drafting of the bill. The private member bill is drafted by the MP himself who wants to introduce the bill. But when it comes to the government bill it is drafted by the concerned department in the concerned ministry. Okay. And the final difference is regarding to the approval and rejection of the bill. See a private member bill has less chance of approval. And also know that if a private member bill is rejected it does not have any effect on the government's position. But in case of public bill it has high chance of approval. And if a public bill is rejected then it means that the government do not have majority in the house. And it calls for no confidence motion. And if the government is not able to prove its majority it will lead to the resignation of the government. That is the council of ministers headed by the prime minister will resign when a government bill does not get approval in the parliament. Okay. That is all regarding this discussion. See in this discussion first we saw what is a private member bill. Then we saw who is a private member. After that we saw what is a government bill or a public bill. Then we saw five difference between private member bill and public bill. I hope this discussion was useful. Now let us conclude this and take up the next news article. Take a look at this editorial article. The article talks about rupee depreciation. See since the start of the year the Indian rupee has been depreciated by around 7% against the US dollar in response to various domestic and global factors. And the article says that despite the rupee has been depreciated against the dollar the depreciation is relatively low when compared to previous instances. So in this backdrop let us understand the difference between depreciation and devaluation. Reason for the rupee depreciation now effects of rupee depreciation and the steps taken by RBI to prevent rupee depreciation. Before getting into the discussion I have highlighted the syllabus here for your reference. You can go through it. Now let us start with the difference between depreciation and devaluation. The depreciation is the fall of the value of currency in terms of its exchange rate versus other currencies. Here in terms of its exchange rate is the keyword. For example if yesterday 1 dollar is equal to 60 rupees the next day 1 dollar is equal to 70 rupees here the value of rupee is falling when compared to dollar. So in this example rupee has depreciated. Note that it necessarily should not be dollar in all the cases the currency could be any foreign currency. Now why is it happening? See it can occur due to number of factors like macroeconomic factors, interest rate differential, political instability or even fear among investors. So this is the same reason why our country and its currency is no facing depreciation. In the case of the current rupee depreciation the factors include widening current account deficit, a continuing uncertainty mood brought on by geopolitical tensions that is the Ukraine-Russia war, a strengthening dollar index due to the raising interest rate by US Federal Reserve and a continuous love by foreign portfolio investors. All this has put pressure on rupee causing our currency to depreciate. So this is about depreciation. Now coming to devaluation. See devaluation is the deliberate downward adjustment of the value of a country's money relative to another currency, a group of currency or a currency standard. Here deliberate downward adjustment of the value of a country's money is the keyword. So here unlike depreciation which is determined by market forces in case of devaluation the government of the country decides to devaluate its currency. So here you might have a doubt. Why should a country in its right mind devaluate its own currency voluntarily? One reason a country may devaluate its currency is to combat trade imbalance. Let me explain. See devaluation reduces the cost of the country's export making them more competitive in the global market which in turn increases the cost of imports. If imports becomes more expensive domestic consumers will be less likely to purchase them. This further strengthens the domestic businesses. So here an export increases and import decreases. Typically this results in better balance of payment because trade deficit will shrink. So in short a country that devaluates its currency can reduce its deficit because there is a greater demand for cheaper exports. This is exactly what China is doing in the recent past. See it is an open secret so I can tell this. As China devaluates more its domestic production increases and its products in the global market will become cheaper. I hope you have seen labels of made in China in literally anything you buy. This is because of devaluation. So see this advantage of devaluation is not just limited to it. When a currency depreciates due to market forces in that case also the exports from the country will become cheaper and imports will become costlier. So when a currency depreciates also its trade deficit will come down and the position in balance of payments will increase. So I hope you understand the difference between devaluation and depreciation and the relation between devaluation and depreciation in relation to exports and trade deficit. So now we will see some of the other effects of depreciation of rupee. See the implication of a weak rupee on an economy is multifold. As I already said it has benefits like more competitive exports as the prices of exported products decreases. But in addition to this depreciation has some disadvantages also. We will see that disadvantages associated with depreciation one by one. See in the current scenario we saw Indian rupee is depreciating against the dollar. So we already saw when a country's currency depreciates its exports will become competitive and in turn the trade deficit will come down. But India's case this is not happening. This is because while India's currency is depreciating India's competitors like South Korea, Malaysia and Bangladesh their local currency is also depreciating in relation to dollars. So the export competitors we talked about right that is not happening currently. So India's trade deficit is not reducing but currently it is actually increasing. See this situation is further worsened by the high import intensity of some of our country's core export industries like petroleum, gems and jewelry. In addition to this slower global demand is also making the export industries in India suffer. So although Indian rupee is depreciating Indian exports are not becoming competitive because our competitors currency is also depreciating in relation to dollar. In addition to this the chief export industries from India that is petroleum, gems and jewelry and electronics all depends on imported products. Since our import price is increasing this is also affecting our export market. In addition to this since the global demand is slow export is also becoming difficult. So totally due to depreciation of rupee instead of trade deficit coming down in the present condition the trade deficit is actually expanding. So this is the first major disadvantage associated with the present rupee depreciation. Now moving on see the weak rupee that is when rupee started depreciating the price of imports of major important commodities like oil, edible oil, gas and coal will increase. This will increase our import bill. In addition to increasing trade deficit due to costlier imports inflation in India is also increasing. So this is the second disadvantage due to depreciating rupee inflation in India is increasing. Moving on thirdly a weakening rupee is also likely to hurt the unhedged component of corporate debt issued in dollars. Take this as a homework and find out what is the meaning of unhedged component. Moving on to the final disadvantage see a continuous sliding exchange rate discourages foreign investors from making fresh investments in India. So since the flow of dollar in our economy is coming down the value of rupee in relation to dollar is also coming down. So these are the four main disadvantages associated with the present rupee depreciation that we are experiencing. To arrest the current depreciation of rupees RBI has taken some steps. See apart from intervening in the forex market to arrest the fall of rupees value the RBI announced a number of measures recently to liberalize foreign currency inflows in our country. So now we will see what are all the steps taken by RBI to prevent rupee depreciation. Firstly RBI has promoted trade settlement between India and other countries in rupee terms itself. See in this the classic example is the rupee ruble route to purchase oil from Russia. So when we use the rupee ruble route we are not dealing in dollars. So the depreciation that we are experiencing will not affect our import bill. In addition to this when we use the rupee ruble route there will not be any outflow of dollar from our country. This is the first step taken by the RBI. Secondly RBI has raised the interest rate for foreign currency non-resident and non-resident external deposits. So since the interest rates are increased more NRAs will come and deposit their money in India. When they bring the money to India they will bring in dollars right. So since they bring more money to India to enjoy the higher interest rate India will experience more dollar inflow. When there is more dollar inflow into India rupee depreciation will come down. This is the second step. Thirdly investable climate for government and corporate debt can be widened. See this is nothing but when the investment climate in India is turned to be better more corporate entities from the foreign countries will come and start investing in India. While the foreign entities from foreign countries are coming to invest in India they will bring dollars with them right. When they come and invest more dollar will start inflowing into India. Since more dollars comes into Indian market our rupee depreciation will slow down. Now let us take up the last step taken by the RBI. Here RBI has removed the ceiling for external commercial borrowing loans and it is even encouraging it. So for example take a Indian country and it is planning to get loan from a foreign bank from a foreign country. So what they will do is they will go and ask a loan from that bank and the money will start coming in. So when a loan from foreign bank comes to India it will come in dollar form. So indirectly there is dollar inflow into our economy. So we already saw when more dollar comes into our economy rupee depreciation will stop. So these are the four steps taken by RBI to reduce currency depreciation that India is facing. So what are all the four steps let me read out again. First is promoting trade settlement in rupee items. Secondly giving more interest rate to attract NRA investment. Thirdly creating better investment claimant in India to attract foreign investment. And fourthly encouraging Indian corporate houses to use external commercial borrowing. So these are the four steps taken by RBI to arrest rupee depreciation. So here to conclude the author says that the current rupee depreciation that we are facing is due to global uncertainty, high commodity prices and raising US interest rate. And to arrest this RBI has taken good measures to prevent the depreciation. Here the author says that in addition to all these steps RBI must also take up timely forex market intervention to arrest the volatility of Indian rupee. So that's all regarding this discussion. So in our discussion first we saw what is the difference between depreciation and devaluation. Then we saw what is the advantage of depreciation and devaluation. That is we saw whenever currency depreciates or devaluates its exports become cheaper and in turn trade deficit will come down. This is the advantages associated with depreciation and devaluation. Then we saw the issues associated with depreciation that Indian currency is facing now. In that we saw four points and after that we saw what are the four steps taken by the RBI to arrest depreciation that Indian currency is facing now. Okay, I hope this discussion was useful. With this let us conclude this discussion and take up the next news article. Look at this news article. This news article talks about the presidential elections. See in the presidential election there was one invalid vote from Tamil Nadu. Know that Tamil Nadu was one of the 12 states in the country that recorded 100% voting. In this vote of one of 234 MLA from Tamil Nadu that was cast in the presidential election was considered invalid. This is the crux of the news article given here. See yesterday itself, Ketra ma'am discussed about presidential elections. She covered article 54 and article 55. So today in our discussion we will see the methodology used for voting in presidential election. That is in our discussion today we will cover proportional representation by single transferable vote. Okay, see we know that president is not directly elected by the people. Then how is he elected? The answer to the question lies in article 54 of the Constitution. Article 54 deals with election of president and we know that article 55 of the Constitution deals with the manner of election of president. See in article 55 clause three of the Constitution it is mentioned that the election shall be held in accordance with the system of proportional representation by means of single transferable vote. Also the article says that the voting in such election shall be held by a secret ballot. Okay, now what is the methodology that we are using in the Indian presidential election? Yes, we are using proportional representation by means of single transferable vote. Now what does this mean? See proportional representation is a type of voting system used for election. In this proportional representation system, let us specifically talk about proportional representation with single transferable vote that is used in India today. See under the proportional representation system with single transferable vote, electors rank candidates in the order of preference. Just have a look at this image. You can see from this image that candidates are ranked by the voters, right? So the voters can put one next to their favorite candidate and two next to their second favorite and three by their third and so on. Some people choose to number all the candidates. Some choose just three or even just one. This is fine. You can number as many or as few as you like. Okay, now that I have explained you how the voting is done. We will see how the counting is done. For this, you will have to recall the value of quota calculation that Kirtra ma'am discussed yesterday. See a candidate in order to be declared elected to the office of president must secure a fixed quota of votes. The quota is computed by dividing the total number of valid votes cast by one more than the number of seats to be filled and this value is added by one. Okay, here I have displayed the electoral quota. Just see it. So in case a candidate secure the required quota in this phase, that is 50% of the total votes cast plus one, he or she is declared elected. Otherwise, the process of transfer of votes is set in motion. Let us see how this is done using an example. See in our example, let us take the quota to be 2,501. Look at this image in this first we will count the preference for each of the four candidates. Nobody had more than the quota, so we moved to the second round. So no one met the quota. The candidate with the fewest votes in the first stage is removed from the count. In this instant, this was canine. Canine votes are then checked again to look for the second preference on the bell paper dividing them between the remaining candidates. This is how it looks after the second stage. That is, we have examined the 732 votes of canine. So after transferring candidates second preference, still no one has reached the quota. So once again, we take the candidate with the fewest votes at the second stage and this is bonus in this case. Am I right? Bonds votes are then examined again to look for the next available preference after bonds on the ballot paper and dividing them between the remaining candidates. If the next available preference is for candidate that has already been excluded, that is in this example canine, then we look for the next preference after that on the ballot paper. OK, now coming to the final results on the count after the third stage, Adam received the most votes after the preference of the excluded candidates were transferred and Adam is now elected to fill the vacancy in the ward. OK, so this is the example of how the proportional representation by single transible vote is counted. I hope you have understood how the mechanism works. OK, see, since this year, presidential election is conducted, we can expect a question from presidential election or powers and functions of president. So we will cover parts of this in our daily news analysis in the coming days and please make use of it. So to recap in our discussion today, we saw about proportional representation by single transible vote in that we saw how the voting is done and after that we saw how the counting is done. So with this, let us conclude this discussion and take up the next news article. Now for a final discussion, let us take up this news article. See this news article talks about the Antarctic Bill passed by the Lokshaba. The surprising fact is that no amendments were made to the text of the bill that was passed after a voice vote in Lokshaba. So in this background, let us understand what is this Antarctic Bill? See the Antarctic Bill was introduced in Lokshaba in April this year. The bill seeks to give effect to the Antarctic Treaty. The Antarctic Treaty is nothing but the convention on the conservation of Antarctic marine living resources and the protocol on environment protection to the Antarctic Treaty. The primary aim of the Antarctic Bill is to regulate visits and activities in Antarctica. It also sets ground rules for any disagreements that may arise among those present on the continent. More importantly, the bill prescribes penal provisions for certain serious violations. Having seen the basics about the bill, now let us see what is this Antarctic Treaty. The Antarctic Treaty came into force on 23rd June 1961. Initially, the treaty was ratified by 12 countries. The treaty covers areas south of the 60 degree latitude. Let us see some of the objectives of the treaty. Its primary objective is to demilitarize Antarctica. Then it also aims to promote international scientific cooperation in Antarctica. Finally, the treaty sets aside disputes over territorial sovereignty in Antarctica. Note that the treaty remains in force Indifferently and currently the Antarctic Treaty has 54 signatories. Having seen about the treaty, now let us come back to the Antarctic Bill. Let us see its important provisions now. See under its provisions, private tools and expeditions to Antarctica would be prohibited without a permit or written authorization by a member country. Here a member country is one of the 54 signatories of the treaty. The bill also lays out a structure for government officials to inspect a vessel and to conduct checks of research facilities. Then the treaty also directs creating a fund called Antarctic Fund and this fund will be used for protecting the Antarctic environment. Apart from this, the bill also extends the jurisdiction of Indian courts to Antarctica and lays out penal provisions for crimes on the continent by Indian citizens, foreign citizens who are part of the Indian expedition and the pre sense of Indian research station. That's all regarding this discussion. See in this discussion we saw about the Antarctic Bill, its major provisions and we also saw some facts about the Antarctic Treaty of 1961. With this, we have come to the end of the news and legislation. Now let us take up the practice prelims questions. We have four practice prelims question today. Let us see them one by one. Let us take up the first question. This is a previous year question. It appeared in 2017 films. Two statements are given. We have to find the correct statement. Let us take up the first statement. A private member's bill is a bill presented by a member of parliament who is not elected but only nominated by the president of India. See this statement is incorrect. This we saw in the discussion itself. An MP other than a minister is a private member. It includes both elected and nominated members. So statement one is incorrect. Now let us take up the second statement. Recently a private member's bill has been passed in the parliament of India for the first time in its history. See this statement is also incorrect. As per PR's legislative, no private member's bill has been passed by parliament since 1970. Today parliament has passed 14 private members bill and all of them were before 1970. So statement one is incorrect and statement two is also incorrect. So the correct answer here is option D neither one nor two. Now taking up the second question. This is also a two statement question. Two statements are given. We have to find the correct statement. Let us take up the first statement. Proportional representation by means of single transferable vote is followed only for president election. This statement is incorrect because proportional representation by single transferable vote system is adapted for election of president, election of vice president and the election of members to the Rajesh Abba. Now let us take up the second statement. Election commission is not in charge of president election. This statement is also incorrect because election commission is only responsible for presidential election and election commission is also responsible for conducting elections to parliament, state legislature and also office of vice president of India. So here also statement one is incorrect and statement two is also incorrect. So the correct answer is option D neither one nor two. Now let us take up the last question. This is also a two statement question. Two statements about Antarctic Treaty is given. We have to find the correct statement. Let us take up the first statement. India is one among the 12 countries that originally ratified the treaty. See this statement is incorrect because India officially gave accent to the Antarctic Treaty on 1st August 1983. On 12th September 1983, our country became the 15th consultative member of the Antarctic Treaty. So India is not one among the 12 countries that originally ratified the treaty. The 12 founding members of the Antarctic Treaty were Argentina, Australia, Belgium, Chile, France, Japan, New Zealand, Norway, South Africa, United Kingdom, United States and the erstwhile USSR. The countries were then active in the Antarctic scene. So they signed the Antarctic Treaty. So statement one is incorrect. Moving on to the second statement. The treaty covers the area south of 60 degrees south latitude. See this we saw in the discussion. This statement is correct. So the correct answer here is option B two only. The practice main question is displayed here. Let me read out the question as economies become globalized, more firms, investors and workers find their fortunes linked to the exchange rate and to its impact on trade on financial flows discuss. See here the keyword is discuss. See it is not a straightforward question. You have to think about it. The other keywords in the questions are globalized and exchange rate. See what they are basically asking is how globalization is linked to exchange rate. So in the introduction you can write about globalization and following that you have to write about the link between globalization and exchange rate. See in our discussion itself today we saw right how US Federal Reserve's monetary policy is affecting India's Indian rupees performance. So one country's policy is affecting other countries performance, right? So you have to link this how globalization is impacting exchange rate and after that you have to write about exchange rate. Since this is a discuss type question, you have to write about the positives of depreciating currency and also write about the negatives of depreciating currency, OK? And finally you have to write a balanced answer how globalization and its link to exchange rate is affecting the performance of countries. So this is the general structure of the answer. So interested aspirants write the answers and post it in the comment section. With this we have come to the end of the discussion. If you like today's video, like, comment and share it with your friends. For more updates regarding UPSC preparation, subscribe to Shankara IS Academy YouTube channel. Thank you for listening.


Hello everyone, welcome to Options with Doug, streaming live daily on Bookmap Discord and the Bookmap YouTube channel at 1.30pm Eastern Time. Before I get started, I need to go through the Disclosures, General Disclosure. All Bookmap limited materials, information, and presentations are for educational purposes only and should not be considered specific investment advice nor recommendations. Disclosure, trading futures, equities, and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. Here's my contact information. The best way to get in touch with me is through Discord. My name on Discord is Doug P. Also on Bookmap Discord, there's an Options-Doug Chat channel that's a great place to post questions, comments, and content related to the topics of my presentation and the topics of the channel that I'll go through in just a moment. By the way, Bookmap Discord is free and available to everyone, whether you subscribe to Bookmap or not. There's a lot of great content there, good traders, a very active community, all trying to help each other become better traders. I'm also on X, formerly known as Twitter. My name there is at Doug Place. The focus of my presentation today and the focus of the Options-Jug Chat channel is Options Order Flow, the impact of options markets on stocks and futures, and the influence of market maker hedging flow on price action. I have a two-step process for trading and the first is planning, and I use positional analysis. I look at how traders and market makers are positioned in the options market and how those positions change from day to day to develop a thesis regarding the expected trading range and volatility for the day, as well as a directional bias. And the second step in my process is execution. I look at real-time order flow in Bookmap and real-time market maker hedging flow in SpotGamma Hero to confirm my thesis. And for setups, rentries and exits. And when I talk about setups today, I will be focusing on an underlying asset. And setups in those assets can be taken any number of ways. For example, the S&P 500 setups can be taken with ES futures, spy shares, spy options, SPX options, or even ES options. And also the setups that I talk about, I'm generally focusing on intraday trading, but setups could be appropriate depending on your timeframe for swing trades or even longer-term trades. The same techniques that I'll talk about today. Questions and comments are welcome. I'll be watching both the options-jug chat channel and discord, as well as the chat and YouTube for your questions and comments. Please feel free to post, and I'll do my best to answer your questions. All right, here's my agenda for today. Thursday, January 11th. First of all, I want to go over news items, economic data, and events for the week. And there was certainly a big data release today. Then I'll go through my positional analysis. And then I'll review some setups from earlier today. And then I'll take a look at the live market. And when I get to the live market, if anyone has any stocks they want me to take a look at, please let me know, and I'll be glad to do that. All right, let's get started with economic data. And I forgot to bring it over, give me just a moment. So here's the data release from this morning. First of all, CPI data. And there are, I guess, a variety of forms. Core month over month, year over year, and then the non-core total number. Anyway, let's just focus on that. CPI data came in higher than expected and higher than the previous number. And there was initially a mixed reaction to that data. But it eventually resolved much lower into a great number of great short setups today that we'll talk about in a few minutes. So CPI overall came in hotter than expected, hotter than previous, and set up some great shorts today. So we'll talk about that in a few minutes. Then jobless claims lower than expected, but an inline with the previous number. All right, so that was the data for today. Tomorrow, PPI data comes out at 8.30 AM Eastern Time, and that should wrap up the week. All right, let's move on to positional analysis now. This is the ES futures and book map, SAP 500 futures. And before I take a closer look at this chart, I do want to take a look at the underlying index in a larger, longer time frame. So the underlying index for the SAP 500 is SPX. I'm going to start with a one-day chart. This is thinkorswim, one-day chart for SPX, focusing on this latest rally that began October 30th. The rally continued to hire for a variety of reasons. IV collapse, put Vanna Rally, Dovish FOMC, better than expected, and placement reports up until today. And then that rally, at least maybe temporarily, we'll see, came to an end at the end of last year, just short of 4,800. The first week of January was somewhat weak, then a big rally this week, and again bumping up against 4,800. All right, so let's take a closer look at just the last 30 days on the SPX. So that was a one-day chart. Now let's go to a one-hour chart, 30-day one-hour chart. And here's that resistance, just at the end of last year, just short of 4,800. Then the rally this week took SPX right up to that level again earlier today, and then SPX reversed lower for a great short setup. All right, so that's a 30-day one-hour chart. So I've covered price action. Now let's take a look at the key labels on this chart. First of all, I want to go over expected moves. The dash purple lines are showing the lower and upper weekly expected move. This is based on the options market, and I update this data once a week. So this expected move for the week, those levels remain in place for the entire week. Note that SPX, with the huge rally on Monday, moved up above that upper weekly expected move, and traded down below, and now maybe trading around that. We'll take a look at one more shorter time frame in just a moment to see exactly where SPX is trading. So that's the weekly expected move. The dash blue lines are showing the lower and upper daily expected move. That's also based on the options market. And note that range was higher for today because of the CPI report. The increased or higher volatility for the day based on the CPI report. So that range yesterday was plus or minus 21 points, and today it was plus or minus 32 points. So widening out of the daily expected range based on the CPI report. All right, so those are the expected moves just based on the options market. Now I want to go over the spot gamma levels. These are shown with the dark red lines. These are proprietary spot gamma levels provided to spot gamma subscribers shown on a variety of trading platforms. This is thinkorswim. Again, a 30 day one hour chart. I'm going to point out the key daily levels. First of all, there's the put wall at 4,600. That's a strike with large net negative gamma that can be expected to act as support. The next level up is 4,745. That's the volatility trigger. That is spot gamma's proprietary gamma volatility flip level. Below that level, market makers position on the gamma curve is negative. In a negative gamma environment, they have to trade with price to hedge their delta exposure. And that tends to enhance or increase volatility when they're trading with price. On the other hand, above that level, market makers position on the gamma curve is positive. In a positive gamma environment, market makers have to trade against price to hedge their delta exposure. And that tends to decrease or subdue volatility. And that level has definitely been in play for today. We'll take a look at that in just a moment. And the next key daily level up is 4,800. Resistance level from earlier today. That is the call wall. That's a strike with the largest net positive gamma that can be expected to act as resistance. And that is also the absolute gamma strike. So that's the strike with the largest absolute positive and negative gamma. So that's where most of the gamma weighted open interest is concentrated. And earlier this week, I was talking about as price moves up toward that level, the gamma will increase. So gamma is greatest at the money at expiration. So as January expiration approaches, price moves up to that level. It can tend to attract price. And in this case today, it did its job as the call wall, the resistance level. Or if price continues up, then that dynamic that I was just talking about increased gamma weighted open gamma will start to take place again. All right, so those are the key daily levels. Now let's take a look at one other SPX chart to take a look at the see the levels and play for today. And this is a one minute chart. I'm showing three days worth of data. Let me just zoom in on today. So the dark portion of this chart is the regular trading hours, beginning at 9.30 AM Eastern time. And the key here is these two levels up above. This 47.98 C1 level, combo 1 level, that combines SPX and SPY, gamma weighted open interest into 1 level converted to an equivalent SPX price. And just above that is the call wall at 4,800. And that cluster of levels definitely doing its job as resistance earlier today. And then the volatility trigger that I mentioned before down at 47.45, acting as support earlier today. So SPX traded down below the lower daily expected move, also lower than the volatility trigger. And now it's making its way higher, midday reversal. All right, let me check for questions. Stun says, I tried to send this chat a message on Discord, but it won't let me type. It says, new users cannot do that. How do I get around that? All right, so if you belong to Bookmap Discord and you want to chat in Discord regarding this, my presentation and the channel, go to options-dug. So the voice channel, you can listen there, but you can't type chat. So you need to go to the options-dug chat channel to chat. And Stun also asked, is it OK to say that for a price to move high, it must break through the red liquidity areas on the chart? Yeah, if there is liquidity above, then, yeah, that could potentially attract price. That's how I view it. If price is moving up towards a level of higher liquidity that attends to attract price, it could act as resistance. But until it reaches that level, I look at that as an attraction for price, a magnet for price. All right, so let's get to Bookmap now. That's enough. So this is ES Futures on Bookmap. And on this chart, I have my own Cloud Notes in the C Levels column, so I can show SPX levels. So right here, this is the levels that I was just talking about acting as resistance, the 4,800 and 4,798. The way I've zoomed out here showing so much data, those levels, all right, so there, squeeze down the chart just a little bit so you can see the 4,800 level. So I'm showing SPX levels. Just below that, SPI levels, there's the SPI 478. And those levels acting as resistance. And then here's the SPX 4745 volatility trigger. Around that level, acting as support. So I have SPX levels, SPI levels, then other levels of interest for ES. There's the lower daily expected move and the upper weekly expected move for ES. Now ES is trading above those levels. Note there is a difference in price between ES and SPX. And today it is somewhere between 33 and 34. I'm using 34. I think it was a little bit closer to 34 this morning. And I post all the index relationships that I'm using in Discord every morning. I was a little bit late, busy trading this morning. I try to get those numbers out by 10 AM. They're pretty easy to calculate. I have small scripts, think scripts, and thinkorswim that calculate all those numbers in real time. So I show the ES to SPI ratio, the NQ to QQQ ratio, ES minus SPX, and NQ minus NDX.  So I can convert the equivalent SPX price, for example, to the equivalent ES price. All right, so those are the levels in play for today. Primarily 4,800, 4,798, 478 above, and then the volatility trigger below. And note the good entry points for shorts. I've marked them here in book map. In these cluster of levels, that is a couple of SPX levels. And then also SPI 476. And then this is SPI 475, also ES 4,800. So those levels acting as resistance and entry points for short. All right, so that's the SP500 levels in play. And we'll talk about setups in a few minutes. Let's get to NQ now. Very similar pattern here in NQ. This is the NQ Futures in Book Map. And before I take a closer look at this chart, I do want to take a look, first of all, at QQQ, so we can isolate the levels in play for today. This is a one minute chart for QQQ. Oh, and I forgot to mention, shifts in levels for the SMB 500, there were no shifts in levels for SPX. And SPI, the only shift was the volatility trigger move slightly higher to 475. So for SPI, 475 is the volatility trigger and absolute gamma strike. And the call wall remains at 480. All right, so here's QQQ, 411, that's not a gamma level, but that is around number level, acting as resistance earlier today. And then finally, QQQ finding support at the 405 volatility trigger, just like the SPX volatility trigger, more or less acting as support for the SMB 500, the QQQ volatility trigger acting as support for the NASDAQ. And note that level did move higher from yesterday. For QQQ, the volatility trigger call wall and absolute gamma strike, those three levels all moved higher. So a hat trick for QQQ, this was before the CPI report. So that CPI report, I guess, really kind of took precedence. Otherwise that would have been leading to a bullish thesis. And then the put wall shifted lower to 400 for QQQ. Also for NDX, the put wall also shifted lower. All right, so that's QQQ. Speaking of NDX, let's take a look at that. Then we'll get back to NQ. All right, so for NDX, these levels here, that's the 16,650 call wall absolute gamma strike. Those levels have remained for quite some time. In this case, acting as support. All right, so that's NDX. Now let's get back to book map. Go to NQ. So in NQ, there's the 411 acting as resistance. And really good entry point for short here was right at 17,000, also the 410 level for QQQ. So for NASDAQ, I have my own cloud notes as well. So I'm showing QQQ levels as well as NDX levels. There's the 650 absolute gamma strike call wall. And then I also have other levels of interest for NQ, the lower daily expected move, and then the big round numbers, the 0s and the 50s. All right, so the levels that I have shown on my charts, definitely coming into play for both the SME500 and the NASDAQ. And again, we'll talk about shorts in a few minutes. And stun asks, is there options for Bitcoin? I don't believe so. Asking me if I can take a look at Bitcoin. I just don't follow Bitcoin. We can take a look at Coinbase or a stock like that, Merid Digital, Riot. But I just don't follow Bitcoin. As far as I know, there's no options market. All right, let's move on now, wrap up the positional analysis. Next thing I want to take a look at is Gamma Notional, Market Makers position on the Gamma curve at the beginning of the day. So remember, this was before the CPI report. This is showing Gamma Notional again for the SB500, NASDAQ, Russell 2000. Note all these numbers with the exception of IWM are positive. So what this indicates is that at the beginning of the day, Market Makers position on the Gamma curve was positive. In a positive Gamma environment, Spot Gamma assumes that traders are short calls, Market Makers are long calls. This is for an index. So Market Makers long calls, hence the positive Gamma, and they have to trade against price to hedge their delta exposure. All these numbers did shift higher from yesterday. So it became more positive or less negative in the case of IWM. All right, I do want to take a look at the Vantem models today to get a graphical representation of what this means. So I'm going to go to the SPX, the Vantem model. What this chart is showing is Market Makers delta notional on the vertical axis and spot price for SPX on the horizontal axis. There are two curves on this chart. The first, the light gray curve, shows how Market Makers delta notional may change with changes in price only. And the purple curve adds implied volatility to the equation. That shows how Market Makers delta notional may change with changes in price and implied volatility. And that change in delta with the change in applied volatility is the Vant effect. Vant is a second order of Greek. All right, so let's take a look at SPX. We know the high of the day was right around 4,800. Somewhere between these two lines, where I'm holding my cursor. So right at the bottom of the curve. And the low of the day was below that volatility trigger. Low of the day, right around 4,740. So that's here. So what this Vanna curve is showing is as price was decreasing, Market Makers delta notional was increasing. So we're looking at the purple curve. So as price was falling, implied volatility is increasing, Market Makers delta notional is increasing. Remember, they want to remain delta neutral. So they had to sell futures to hedge their delta exposure as price was dropping. And let's just take a look at a chart of VIX. So in the morning, price was dropping. VIX was increasing. Let's get back to that purple curve. And Market Makers had to sell futures to hedge their delta exposure. So any trades in SPY, SPX options, they are hedging that with ES futures. And then on the other hand, as price now is increasing, and we saw that VIX is dropping, this works both ways. So as price increases and implied volatility drops, Market Makers can buy back their short futures hedges. And that tends to enhance or increase volatility. And let's take a look at SPY. Should be very similar. SPY, the low of the day, was right around 472. SPY, currently trading right around 476. So the same dynamic here as price is increasing, implied volatility drops. Market Makers can buy back short futures. And finally, let's take a look at QQQ. Low of the day, right around 404. Right here, currently trading actually positive for the day, right around 408.50, back toward the bottom of the curve. All right, so a little bit of vanafuel moving going both ways for the SP500 and NASDAQ, enhancing the move down as Market Makers were, buying futures, and then also enhancing the move up as Market Makers were buying back their short hedges. So Market Makers selling futures on the way down and buying back those short futures on the way up. All right, so let's take a look at some setups now. And the first thing that I want to do is take a look at what options traders were doing today. I'm going to start with the SP500. This is the hero signal. So everything that we've looked at so far, other than book map, has been based on static data that's updated once a day, sometime overnight. So this is Spot Gamma Takes Open Interest data that's updated once a day and applies their proprietary algorithms to come up with the levels and the Vana model and everything else that we've looked at that I use in my planning process. And now we're going to look at real-time data. So this is Hedging Impact Real-Time Options. So this is showing price for SPX with a white line and the hero signal. Hedging Impact Real-Time Options, H-I-R-O, with a purple line. And this is showing options trades and Market Maker hedging activity for a combined signal for SPX, SPY, XSP, and ES futures. So when traders buy and sell puts and calls in these instruments, Market Makers hedge those trades with ES options. And this is often almost always a key driver or price in the SP500, these options trades. All right, let's zoom in on this chart now. I'm going to zoom in on just the morning here and we'll focus on the first short. So a falling purple line indicates traders are taking negative delta positions. So let me point out a couple of things on this chart. First of all, here's that 4800 call wall. It's showing key gamma strike here. For SPX, it's actually the absolute gamma strike. Price doesn't quite reach that level. Note the very timely flow alert here. Let me clear that up. Timely flow alert indicating significant options activity. So initially, just for the first couple of minutes, traders were taking positive delta positions and that quickly shifts to negative delta as price moves lower, helping to set up a short just after the cash open. All right, let's go to book map. Go back to ES, let me zoom in just a little bit more. All right, give me just a moment to adjust this chart. Whoops, a bit too much. So this is just a continuation of the down, up, down movement, up and down movement after the data release and then the CPI release. And then this is just after the cash open. Here are those levels that I expect to act as resistance. So we know just right around 935, traders started taking negative delta positions and at that same time, at that same time, large traders were selling with iceberg orders. That's shown by the falling blue line here, light blue line. This is in some mode indicating iceberg orders, large traders selling with iceberg orders. They used to hide their size. This is a pretty significant number here. 2050 contracts in two executions, that is significant. That is 1955 contracts, 12 executions. So large traders selling that move higher with iceberg orders. Other traders were taking negative delta positions in the SB500 and ES breaks this up trend line. The volume dots are showing market buy minus sell. Green volume dots indicate more buyers than sellers. Magenta dots indicate more sellers than buyers. So aggressive sellers start to come in, large traders selling with iceberg orders. Options traders taking negative delta positions, market makers taking the opposite side and they have to hedge that by selling futures and price moves lower. First target, this cluster of levels here, that is SPI 476, then a couple of SPX levels. Kind of the same setup here without the iceberg orders. Trend break, oops, wrong tool, trend break. Aggressive sellers showing by the magenta volume dots. Price breaks down to the next support level. All right, let's zoom back out. All right, so I thought as there are three main short setups here that I'm showing. First two very obvious, very clear. And this one took a while to work out the last nice short setup. There was a lot of chop around the ES4800 level and also the SPI 475 absolute gamestrike volatility trader. All right, so short setups there in NASDAQ and ES. And Dan asked if I trade RTH or ETH during cash open. I generally trade just the regular trading hours. There's more information, more volume, hero signal really doesn't gain, generally have much notional value until a few minutes after the cash open. And in this case, there was plenty of movement after the cash open. You'll compare the movement here around the data release, oops. So that's just me. Right, that's before the cash open, that's after the cash open. So this is plenty for me. And before the open, I'm doing my preparation. So I have found that my time has better spent in preparation before the cash open. All right, let's take a look at NASDAQ. Again, a very similar pattern. Three main short setups and order flow pretty clear here. You know, in each case you can see the aggressive sellers coming in. So aggressive buyers on the way up, aggressive sellers come in, price reverses lower. Same thing here. And eventually the aggressive sellers get their way with that third short. Let's see what options traders were doing. So let's go back to hero. All right, so this is the signal for, oops. Signal for the, this combined signal for the SB500. It looks like around, right around 1150. They started taking positive delta positions. It took a few minutes or maybe 45 minutes. Price responded higher. Now let's take a look at NASDAQ. Very similar, let's zoom in on this. Traders taking negative delta positions in the morning and price moves lower than in case of NASDAQ. They really started taking positive delta positions right around 1010. And at the same time, I wanna take a look at one other combined signal. This is the MAG7. Let me show you what this is. So this is a combined signal of options trades and hedging activity for the stocks known as the Magnificent 7, Apple, Amazon, Google, Meta, Microsoft, Nvidia, Tesla. These stocks make up a large component of the SB500, even a larger component of the NASDAQ 100 and are key drivers of price, especially in the NASDAQ. So for NASDAQ, I often like to look at this signal. So we know that for NASDAQ, the signal was moving lower in the morning, started to reverse higher, right around 1010. And then for the MAG7, made another leg lower right around 1045. All right, let's go back to book map. So again, the kind of the three step pattern with moves lower altogether, move lower over 200 points in NASDAQ today before finding support at the 650 level, also the QQQ 405 volatility trigger. And again, I thought just like the SB500, this was the first setup was the most clear. All right, let's take a look at some stocks. So let's go back to hero, zoom out. So what I did this morning is I ranked my watch list by hero signal. So what this is showing, this is my watch list, mostly large cap tech, MAG7 stocks, looking for weak stocks. So I ranked my watch list by hero signal. What this is showing is the, comparing the hero signal for today with the last 30 days that shown by the entire length of the slider that may be difficult to see. That is the lighter portion than the colored portion is showing the comparing the signal to the last five days. So that's the colored portion. So this is showing for both NVIDIA and Amazon, the hero signal at the time that I ranked it was the weakest that has been in the last 30 days and also the last five days. All right, so at the time I did this, these stocks were the first on the list was NVIDIA. So let's take a look at that. Let's zoom in a bit here. And stun asks, can you show us some examples of spoof orders on the chart? Stan, I suggest you take these kind of detailed questions about book map to Bruce at Bruce at book map. He does a live daily webinar Monday, Tuesday and Friday at 10 a.m. And that's his area of expertise. My focus is really on the options market and any details like that about spoofs and detailed questions about liquidity. Bruce would better be able to answer those questions than me. So Bruce again streams live at 10 a.m. on Monday, Tuesday and Friday. All right, so here is NVIDIA. Great short set up this morning and NVIDIA. Let me point out a couple things on this chart. First of all, 5.50 is the call wall, the key gamma strike earlier this week. NVIDIA has been quite bullish moving up pretty substantially. So there's the call wall expected to act as resistance. Initially it was breached, but as the hero signal shifted lower, price moved lower, note also a couple of very timely flow alerts indicating significant options activity. I use these as something to get my attention to look at NVIDIA or whatever instrument. We saw the flow alerts on the SP500 signal as well. All right, so let's go take a look at book map. Take a look at NVIDIA. So remember 5.50 was the call wall. So initially in the morning, price breached that level, went up all the way to 5.53. Then aggressive sellers started to come in as traders started taking negative delta positions and then price broke below the 5.50 level. Also VWAP, this is light blue line and there were several opportunities to enter shorts. Pretty deep pullbacks, all below VWAP, down to this high liquidity between 5.35 and 5.36. That's shown here with the heat map. The heat map is showing a history of the limit orders in the order book. So there were some orders at this level at 5.35 that came in at the cash open. A lot more came in just after 10 a.m. And it looks like they were not. So this is absorption at that level when those price reverses higher. So those levels were not consumed so they're remaining in the order book. Those are limit by orders, below price. The darker the line that indicates more orders at that level. So this is the current order book, 37,250 at 5.35. Those are buy orders, limit buy orders. So aggressive buyers started front running that liquidity and price reversed higher. Showed by the green volume dots there. All right, the next on my list at the time I ranked this was Amazon. So of course NVIDIA has a much larger range than Amazon. But Amazon good for a short in the morning, 155 is the call wall. Let's see what options traders were doing. Go to Amazon. Stun asked if we think a stock is going to go down. I think it is safer to buy puts. Do you think that it's a wise idea versus shorting? There is no best method. So there are advantages and disadvantages to each. So certainly if you buy a put, that's defined risk. So there is, you can only lose what you pay for the put. And also you can make a lot too. The disadvantage of buying a put is that time exposure. So you're buying a decaying asset. So as price goes on that and price does not move, you will lose your money on that put. Versus if you short stock, you can short however many shares you want. Place a stop loss so you can define your risk as well. But then you don't have that time decay problem. But it typically requires, depending on your size, requires more margin to short than buying a put. So advantages and disadvantages. All right, let's take a look at Amazon. Initially for the first couple of minutes, traders were taking positive delta positions. Then that quickly reversed. As traders started taking negative delta positions, note a couple of timely flow alerts indicating significant options activity. Especially this one, or a mean reversion signal. There's the 155 call wall. All right, let's go back to. So now Amazon has recovered just above the 153 level and is now moving higher. All right, the next on my list was Microsoft ranked by hero signal. So Microsoft pretty similar initial burst of buying up to 390. Looks like I need to update my price lines here. Aggressive sellers start to come in. And for Microsoft, 385 is the call wall. So let's go take a look at hero. Go to Microsoft. So Microsoft, here's that initial burst of buying. Options buying, price. Options traders quickly reversed, taking negative delta positions. Microsoft moves lower. Little bit of a clustering of activity around the 385 call wall. So initially, that was a call wall breach. And then price finally broke lower. Let's go back to book map. All right, so there's Microsoft. All right, Caesar asked a question about Amazon. How would Caesar ask, how would I interpret the large liquidity that came on the ask at 2 p.m. on Amazon? So what level, Caesar, are you talking about 155? So it looks like those orders were in the order book. Oh, since before 1130, if this is what you're talking about. All right, so here it looks like they, looks like those orders may have been consumed. Then more orders came in. All right, so it looked like in that case, they did act as resistance. So in this case, you just have to watch this. So initially acted as a magnet for price. And then it turns out it did act as resistance. All right, folks, I will tell you, I need to wrap up. Couple of minutes order early, I have a meeting at 2.30. So I'm gonna go for another four or five minutes and then stop so we can just zoom in on this, Caesar, and see. So it looks like these orders at, let's see, that is 65 and 70. Those were actually not consumed. And it looks like these orders were pulled as price moved lower or added as price started to move lower. All right, stun asked. So most of the time red areas do act as resistance. Again, liquidity as price is heading toward liquidity, I assume that it will act as a magnet for price. And I don't know if it's gonna act as resistance until it actually does. So in this case, that did act as resistance. So if you're looking for, if you're just scalping, looking for a short entry, you can see that Amazon does find resistance at 70, makes a series of lower highs. I would also check Hero to see what Hero's doing. And then there was a question about Tesla. WRB asked about Tesla. All right, WRB, I don't think I have a time for a detailed aspect of, he's asking about, or he or she is asking about a more detailed aspect of today's pivot point, option bias, possible heading through next week. So first of all, I'm not quite sure what you mean by a pivot point. Let's take a quick look at Hero. And then we'll have to wrap it up after this. So let's go to Tesla. So Tesla for Tesla 230 is the put wall. That case acted as resistance. Traders initially were taking negative delta positions. Also the timely flow alert, taking negative delta positions, timely flow alert and setting up a short right around that 230 put wall, maybe 945. Let's go back and take a look at book map. All right, so there's that short at the 230 put wall. So the 230 put wall in this case acted as resistance. Also VWAP, note all the aggressive sellers coming in as traders started taking negative delta positions. All right, WRB, I don't know if that answers your question or not. The options bias, let's go back and take a look at Hero again. And for Tesla, so far today it is actually a net positive. So traders, so far now taking positive delta positions and that's net for the day that really started just after 10 a.m. between 10 and 10, 15 so far. Tesla price is not really responding higher like Nvidia. And I really don't do any analysis beyond today. So I look at how the levels change from day to day. So my focus is on day trading. All right, Grace says great coverage is always great day for trading, yes it was and you're welcome. All right, folks, I need to wrap it up. I have a meeting starting at 2.30. I wanna thank everyone for watching. Thank you for your questions or comments. And again, yeah, it was a great day for trading. Thank you, remember PPI tomorrow morning at 8.30 a.m. Easter time and I'll see you tomorrow afternoon and we can talk about it. All right, thanks again, bye.