The following is a presentation of TFNN The morning market kickoff With your host Tommy O'Brien Good morning everybody. I'm Tommy O'Brien coming to you live from TFNN Tuesday morning 9 o'clock 6 a.m. We got about 24 minutes to go until the start of trading We got a mixed market pretty calm action to kick things off pulling up a five-minute chart of the SMPs We're trading right now positive by two points at 46 95 We make an all-time high of 47 11 on Friday right near that level pretty tame action so far this week to kick things off Nasdaq 100 up 49 points this morning so far 16,000 377 that's a third of a percent in the positive got the dial negative a bit right now down 49 points 36,000 263 in the Russell negative by six. That's a quarter percent in the red How about Bitcoin you like even numbers our man Basil Chapman just finish up an awesome Hour of the Tiger technicians hour live at 8 in the morning 69,000 on the dot last night for Bitcoin seems like 70,000 all but inevitable at this point right a lot of people already talking about 100,000 in Bitcoin you had Ethereum making all-time highs yesterday during the day We make another all-time high in the overnight session of 48 80 not long ago in Ethereum you were down at a price point of The low there 17 27 about what is that three and a half months ago to 48 48? That folks is why people love cryptocurrency in a big way let alone the Negligible coins we'll call them The biggest ones out there you can return 100 to 150 percent in three months Let alone the she be enus of the world and how they trade crude right now up 35 pennies at 82 28 We got the gold contract up $2 at 18 30 you see the move gold has had from last Wednesday at 17 58 You're talking about pushing 18 30 this morning That's a solid $70 move from the lows we had last Wednesday and notes in bonds will finish it up We had a little bit of higher price and lower yield this morning. We got the 10 year positive 15 ticks We got the 30 or positive a full point and five ticks at 163 14. Let's jump into the volatility index VIX We got some elevated levels on this VIX right now with the market trading right near all-time highs I said pay attention to this one yesterday VIX it in 17 69 We're above 17 right now with the S&Ps basically within a stone's throw of all-time highs Interesting action elevated VIX a little bit of premium in this market pay attention to that one All right, let's jump right into it. We got some economic news to kick things off inflation 0.6% US price US producer prices climb 0.6% adding to inflation concerns is how Bloomberg puts it there 0.6% You get the producer price index final demand increased 0.6% from the prior month and how about this number 8.6% 8.6% from a year earlier matching forecasts Excluding volatile food and energy components now those two are through the roof They might be volatile their volatile only to the upside right now when you talk about food and energy costs the core PPI Rising 0.4% in a month and 6.8% from a year ago. You put that thing on a chart man You're talking about levels that we haven't seen in at least a decade I think was what I was reading about as this number came out this morning the report underscores how Transportation bottlenecks material shortages and increasing labor costs have sent prices soaring across the economy in recent months and with the ongoing supply chain challenges anticipated to linger into 2022 sustained price increases at the producer level Prestige additional consumer price increases in the coming months. Now. Here's the part. I want to get to More than 60% of the headline increase was due to goods which jumped 1.2% That's quite a number folks on a monthly basis higher energy costs including that for gasoline drove the gain the cost of services Up just 0.2% construction was a big one in there other data point to growing price pressures compensation Compensation surged by the most on record in the third quarter and a gauge of prices paid by service providers rose to the highest level in 16 years we got records all over the place a record of 32% of small business owners said in October They plan to raise compensation in the next three months that folks is not Transitory all right You don't give people raises and then in a few months come back to them and say ah oil went down So we're going to decrease your raise not happening companies are passing those costs on some consumers in the form of higher prices Fueling inflation further. It's quite a cycle right now right you got higher costs leading to higher wages higher wages leading to higher costs The cycle goes on and on they break down some of the other stuff producer prices excluding food energy and trade services a measure often Preferred by economists that strips out the most volatile volatile as we said 0.4% from the prior month Compared with a year earlier 6.2% 6.2% in a year folks 2% is the number that the Fed is looking for they want to get back to that number and man We got some ways to go to get back to 2% when we're dealing with 6 to 8% numbers for PPI numbers Across the board all right. Let's get into some of the equities the one of the most interesting ones out there How about GE no longer going to be the conglomerate that they were for the better part of a century plus They're going to split into three units ending the conglomerate for good is how Bloomberg sums it up They're going to split into three separate companies and a stunning breakup of the iconic manufacturer Founded by Thomas Edison sprawling business once made it the world's most valuable company Excuse me so folks getting over a little bit of a cold still It's going to spin off its health care business in early 2023 and Combined its renewable energy fossil fuel power and digital units into a single energy focused entity They'll be spun off a year later. I mean think how long it's going to take so you got the health care is going to be pushed out in Early 2023 so you're talking about what 14 to 16 months from now a year after that So you're talking about 26 months two and a half years from now. You're going to get the energy business The energy focused entity as they put it the remaining company is going to consist of GE Aviation and its jet engine business What we're doing today is creating three outstanding investment grade global leaders in health care aviation and energy That's their CEO Larry Culp GE has had the lead in these markets for a long time and today we're setting ourselves up for another century of leadership That's optimism from the CEO there folks not sure that's going to be the case But the market likes what this is happening. That's for sure. We'll jump over to their chart in a moment They are higher up 8% as they put it in the pre-market up 17% at one point It expects to take a one-time two billion dollar charge from separation Transition and operational cost tied to the plan plus tax costs of less than 500 million Not really that big of a cost when you think about what they have going on in that company to split that all up Sweeping plan marks the end of an era in which conglomerates defined much of the 20th century Yeah, Jack Welsh, huh? He was he was quite the figure over there. They've been struggling for a while though over a GE Jeffrey Immelt continued to reshape the company over some 16 years starting in 2001 though with notably less success I would say putting that lightly putting that lightly in a big way Let's take a look at GE There's your acceleration on that news and my goodness talk about giving it back Who was buying GE at 126 40? We've already given back 13 dollars. You're up five bucks market Market not really given it the credit that it did off the bat. Now. Let's just put this thing back and the reason why I said Did you see the way they summed that up? Continued this talking about Immelt when he started in 2001 when Jack Welsh left Continued to reshape the company over some 16 years. So he was there from 2001 to 2017 Well, let me show you this chart from 2001 to 2017 folks 2001 We're trading at about 300 2017 We're trading at about 150 you lose 50% of the value over the 16 years He was here and look at this thing leading up to 2001. Stay tuned folks. 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Just finishing up that update man. You look at where this company was GE 484 bucks back in that is August of 2000 before you had the internet bubble there a little bit of a burst from 480 down to 200 but as I said, I mean Jack Walsh look at this one It had from 18 bucks back in 85 to 484. I mean even back it up to where it was in 94 You're trading at $64 up to 484 and man talk about some volatility since then down at one away Once the world's richest wealthiest company out there market capitalization wise Bloomberg just to pull it up one more time. They were at a level of 400 billion. Let me pull up this number here Yeah, 20 years ago. It was the world's largest company of 400 billion five years ago It was just hanging in the top 10 and as of Monday there were dozens of bigger market caps in the S&P 500 We all know some of those notable names GE not part of that But they're trying to do a turnaround three companies coming out of that and as we saw though the market really giving back a lot of those gains Already pulling back to 1 12 57 from 108 42 as they chop up that company into three separate ones All right jumping around what else we got going on Lot of companies coming out still how about PayPal a little bit lower Let's see how they're trading this morning P what YPL is their symbol there you go trading even lower down $17 now and their numbers a little bit of a spike up to 244 Forecasts not what you want though in a big way cutting the full-year sales and profit forecasts Transactions tied to eBay marketplace tumbled 45% in the third quarter a bigger drop than the previous three months PayPal said in their statement Headwinds a bound for PayPal heading into 2022 and the week outlook probably outweighed significant new business wins with the likes of Amazon That's one analyst there The figures overshadowed the company's announcement that it had inked a deal with Amazon to allow the firm's Venmo wallet in The US to be accepted at Amazon, but man you want to talk about forecasts PayPal now expects revenue to climb just 18% the market was looking for excuse me the company had previously forecast a 20% jump Total payments volume is now expected to increase by as much as 34% will adjusted earnings per share forecast to rise 19% always remarkable how these companies are judged I mean imagine having a company folks that you're growing almost a 20% To $25 billion a year and the market says no no no we had higher expectations for you Venmo on track to deliver 900 million in revenue PayPal has previously promised the firm also believes Venmo's transaction margin a measure of the Wallets profitability will be positive this year PayPal stood by its previous forecaster adding net new users To its many platforms saying that figure should climb by approximately 55 million for the year big numbers But not quite as big as the market was looking for Excuse me folks PayPal announced during the period that it is not pursuing an acquisition of Pinterest That was all the hype that we had going on ending days of speculation over potential 45 billion dollar deal between the two companies with Pinterest visual search and scrapbooking platform They could have gained more data about the products consumers are buying but not so fast at least not at 45 billion and PayPal I mean you look at this thing From 310 on a couple occasions this year. We're gonna open it about 211 Now this is gonna be a critical area for PayPal because you back it up to the highs of 2020 you look where we were we had a high at 212 back in August of last year We're trading right at 212 right now. You also have a high of 215 in October. Okay, those areas were resistance We'll see if we blow right through those areas or they might act as a little bit of support on the open PayPal Gonna open right down at that level down about 17 18 dollars still a very strong company folks But you're talking about multiples very important to talk about multiples when you're dealing with growth companies Because many times you're dealing with growth that is just priced into levels That is very difficult to keep up with some of these equities you see it here I mean growing at 18% to 25 billion dollars a year and the market shaves off 8% almost on the open for PayPal All right jumping around to what else we got going on some of the equities that are moving today We'll jump to where we jump into next. How about the meme stocks AMC? Top Wall Street estimates as movie fans return really interesting this one AMC Pretty marginal movie down about three bucks. There's the weekly right the craziness of the meme stocks We put it on a 15 minute. You're down from about 45 to 42 35 They may be coming out with their own cryptocurrency The movie theater business definitely getting revived third quarter sales 763 million market was only looking for 708 a loss of 44 cents a share Market was looking for a loss of 53 cents a share sales mark the best quarterly result since the first period of last year The orders are mostly reopened now Still movie attendance while much improved has not returned to levels seen before March of 2020 not surprising there It plans to have yeah, management is trying to diversify the company It's pushing deeper into the popcorn industry and they're doing everything folks Plans to have up to 15 retail stores and kiosk selling cinema treats by the end of 2022 not sure how that's going to play into the long-term Vision of that company lean further into the fandom with meme investors in August the company said it wants to accept dogecoin as payments for its movie tickets You know this thing is still dealing with quite the valuation folks You jump over here to the fundamentals tab on the thinkorswim platform and you're talking about a company valued at 22 billion dollars And they are transforming themselves to their credit But you talk about a company where 22 billion dollars they're losing money and I'm not sure they can get to profitability the world has changed folks Movie theaters, they're gonna be around forever, but man, you're seeing it I mean already I signed up for HBO Max myself during COVID All of those great movies now coming out on HBO Max That's gonna change a little bit, but people becoming a little bit more comfortable Maybe watching movies at home. You got Netflix HBO Prime, right Disney, etc Disney with a little bit of a business a different business plan coming out Excuse me Charging a premium service about 30 bucks to watch some of those movies even for subscribers a lot of companies playing with a bunch of Different business plans in terms of how to capitalize off of their content, but I am see Struggling a bit. I would be careful of that one as the meme stocks basically run this thing There is no way to judge the value of this company trading at 45 dollars for a 20 billion dollar valuation when they lose money And they were already in trouble coming into COVID folks That's a five-year weekly. There's your monthly. I Mean hysteria folks. You came into this year at a buck 91 You're sitting comfortably above 40 dollars and not sure that makes any sense at all But nonetheless the market is never wrong folks and we're sitting at 42 bucks this morning on AMC Back to the short-term charts checking out. So what else we got going on? We're gonna stay to some of those movie companies Netflix saw this one up this morning interesting They're gonna be rolling out tick-tock like short clip feature aimed at kids company to test kid clips on IOS in US and other countries Features similar to fast laughs comedy offering for adults. I mean they're experimenting folks You see the graphic there in terms of what they're trying to do Kid clips feature appearing on Netflix's iOS app will show short videos from the company's existing library of children's programs and movies Netflix plans to add new clips daily based on its current and future offerings If you're familiar folks If you have small kids in the house and you have Netflix you've probably seen the show Cocoa Mellon I have seen the show Cocoa Mellon many times. It's amazing some of the programming They do have for children out there and how it delivers Excuse me, but nonetheless Netflix putting this thing on a weekly you're just sitting right near all-time highs this thing Consolidated for the better part of a year broke out of that consolidation from 550 We're sitting comfortably at about 650 right now from Netflix shares We jump over to Disney Disney quite a different story kind of been struggling and about the 170 to 180 range We'll put this on a daily you see and I'll back it up a little bit to see the full run. We had there on the weekly Excuse me folks All right, we're gonna go to a break. We'll be right back for the market open folks. 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We're offering licenses available at only seventy nine dollars a month We are so confident that you're gonna love this new charting software that will even give you a 30-day Unconditional money-back guarantee don't miss out on this incredible new piece of software Get your copy of the art of timing the trade charts today by visiting TFNN com This segment is brought to you by think or swim for more information Just click the think or swim banner on the front page of TFNN dot com Welcome back folks. We got markets open We get the S&P's up five points right now coming into that open just under forty seven hundred We get the Nasdaq one hundred up fifty two points Dow negative by three Russell negative by three as well Let's jump around to some of the fang stocks right now as we kick things off Amazon shares up almost another full percent at thirty five nineteen this morning trading at thirty five twenty four Up about thirty three dollars. We'll jump to Microsoft shares talk about strength man Microsoft trading at three thirty seven Let's jump over to the fundamentals see what kind of market caps are dealing with some of these tech stocks Microsoft two point five three trillion dollar company whereas Apple currently sitting Apple basically flat for the day 2.47 Microsoft holding on to the top spot in a big way. We jump over to Tesla Then all the rage lately excuse me TS LA is their symbol Tesla shares up about a half a percent pretty remarkable Everything that went on for the weekend right and yesterday pretty tame action right now You're trading at eleven seventy you came into the weekend at twelve twenty and you had the world richest man Talking about that he was potentially going to sell a thirty billion dollar position In Tesla so it's interesting here my dad send over some articles over on Bloomberg there musk brother Kimball musk brother to Tesla CEO Elon musk and a board member at the company sold almost 90,000 shares of Tesla on November 5th Folks if you think this isn't tied to what's going on He sold at an average price. You ready for this one $1229 per share via JP Morgan the filing says the sale came one day before Elon posted a poll on Twitter Asking if he should sell 10% of his Tesla stock a stake worth about 21 billion dollars is how they sum it up And my goodness, I mean what is what is I got to break out the calculator for that one? Let's do it. What is eighty eight thousand five hundred shares eighty eight thousand five hundred shares at a price tag of $1229 and ninety one cents you're talking about a hundred and ten million dollar sale of Tesla stock for Elon's brother The day before Elon goes to Twitter to try and gain some cover potentially selling himself It's a lot of game theory going on the big way Elon one of the brightest geniuses on the planet Keep track of all of this going on folks and Tesla now give him back some of the games It had early your flat on the session at 1163 I mean pay attention folks You got his brother selling a hundred and ten million dollar position at 1229 you got Elon potentially selling a 21 billion dollar position And you got this stock to the moon man. I mean even from May For May we're up more than a hundred percent Let alone in the last month. We're up 50% let alone from the beginning of 2020 you're up 1,400% 1,300% something crazy like that Tesla is a very strong company folks. They're gonna be around probably forever at least for our lifetimes You're pushing a 1.2 trillion dollar market cap right now. Be careful on Tesla shares everything can have pullbacks folks Nobody probably saw the writing on the wall on GE never touching a valuation that it saw in 2020 excuse me 2000 right who would have thought that 484 was a price point you would never see in GE again at least for the better part of Multiple decades let alone You think that you might have a strong company that you can just hold through retirement Not even close folks be careful of all those equities because anything can have a pullback even the best of them all Amazon shares will jump to the best of them all right now in terms of services In terms of retail Amazon up three quarters or percent All right, let's jump down some of the other companies that are reporting this morning Excuse me not reporting that are moving this morning. And what was I jumping to where are we? Where's Palantir? Well, I want to jump to Palantir. They had their numbers last night Giving it back down six point two percent for Palantir. You were up to 28 bucks Now this thing a lot of secrecy and what they're coming out with you're back to 25 Got ahead of itself up to 45. We just got chopping around between about 20 and 30 bucks for Palantir Peloton expands its strength training with camera-equipped TV box 495 device takes Peloton into new market beyond cardio company also launches new heart rate band and Voice assistant my take on this folks and they may succeed. Okay, but they're reaching a little bit here Okay, they're reaching because their exercise bikes are pulling back in a big way and they realize whether it was their treadmill treadmill They realized they need more than just a bike because they've sold bikes to a lot of people They're having trouble selling them right now. They dropped the price price $400 people aren't using the bikes as often as they have I mean, I they want to get into competing in the in the TV Sector man, that is going to be a tough one folks The Peloton guide device allows users to access a video library of strength training classes from their TV and uses a two-dimensional Wide-angle camera and artificial intelligence technology. Yeah, that's quite a spin I wonder what that is to analyze and provide feedback on the workout Users can exercise with their own equipment and weights How convenient of them to let you exercise with your own weights at home as long as you buy their TV for 500 bucks? Again, not a fan of what's going on there We'll jump over to Peloton Peloton shares up 1.3 percent, but yeah, can you see a lift on that chart? This is a weekly. I can't see a lift on that chart at all. We'll put it on a five-year daily Okay, even now just maximum pain on this equity folks I mean, there's no reason that this thing can't get back down to whether it's 38 bucks I mean think about this Think about the Peloton is about to give back almost all of the gains that it had during COVID Are you kidding me? Who would have thought that Peloton kicking off the year around 140 to 170 would have erased all of the COVID gains? Are you telling me that this company is going to be at the same price prior to the COVID pandemic when we spent a year and a half at Home and they're selling exercise equipment that took over the world almost That should be a scary realization for investors You're now below the 618 of the full COVID low of 1770 up to 171 Uh Excuse me folks if you think about it There's already a million things that you can do from a TV at home folks Everybody has smart TVs and I say everybody I'm generalizing many people have smart TVs at this point If you don't have a smart TV, what do you have? You have a Roku you have an Apple TV You have an Amazon stick right fire stick. I Watch you two all the time focus if you haven't checked it out yet if you have a Roku Download or do you don't even have to download right jump on the YouTube app pull up TFNN? I do it all the time you can watch TFNN live on your television I bring that up because you can watch exercise classes on your TV already through YouTube You don't need to buy a special $500 TV with access to a Peloton guide Very contrived in my opinion of how they're going to try and sell that and the markets markets You know making them pay that is not a lift for this company folks Peloton, okay, is not going to be worth 15 to 20 billion dollars by trying to sell TVs folks, okay? It's not going to happen All right, you're going to be competing with Amazon. All right, you're going to be competing with Roku Peloton, there's just not as much of an advantage to warrant Buying a Peloton TV and I am all about health and fitness and whatever you got to do folks We're all Trying to be as healthy as we can and one of the things that's always fascinating, right? Is that there's always like the next craze the next easiest diet the next easiest way to get healthy Most of the time folks we all know what we have to do to be healthy, right? It's just doing it It's more of a mental battle than it is figuring out what the recipe is. We all know the recipe. All right It's getting exercise. It's eating a little bit healthier And if a Peloton TV helps you do that kudos to you I don't see that happening folks. They're reaching in a big way and the market making them pay for it You're up 1.7 percent today. Be careful 15 billion dollar company at these prices still stay tuned folks. We'll be right back Are you in the market for buying or selling real estate in the bay area? Including the surrounding st. 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That's tfnn.com and hit watch tiger tv Welcome back folks s and p's right now up by two You got the nasdaq barely in the positive nasdaq 100 up by 40 dow and the russell barely in the red right now crude up 90 cents at 82 83 we got gold up two dollars 18 29 right now jump it back to the s and p real quick I got it up on a daily chart remarkable the s and p back into the uptrend channel that you've been in for the better part Of we're talking about six months right now back to may Remarkable we were pushing almost 4 000 in may we're pushing 4700 right now in the s and p's you traded down to a low october 1st of 40 to 60 and you are back into that uptrend channel folks You make it to the top level of that and you're talking about almost 100 points above it in the s and p's now We take a look at the cues real quick cues above the trend line And I have to go back more than a year to see where we're at in that cues now This one goes from really where the market took off For the better part of we're talking about almost a year ago Remarkable that the election was a year ago folks. I I saw that man time is just crazy November the markets really take off this trend line begins a little bit prior to that maybe in september It's been a one-way rocket ship from 260 and man the nasdaq wouldn't imagine that the cues actually break out of this to the upside But that's what it did folks keep your eye on at the cues trading at 399 right now up about a quarter percent All right jumping down to what else we have going on disney Talk about time flying disney didn't even have a streaming service two years ago talk about timing being right too Disney launches their streaming service in november the whole world shuts down three months later february to march They got a special going on One month of service for two dollars We do have disney and my newsletter folks rocket equities and options if you want to try it out Everything we do a tfnn has a 30-day money back guarantee Just remarkable that they launched it two years ago when you think about what a mainstay it is now In u.s. households they got a special going on for two bucks And yeah, just kind of interesting two years ago time is just flying in a big way. It just does not stop All right, what else do I have up here? Yeah talking about holidays. Okay Excuse me Holiday web shoppers face an increase of out of stock goods. I've been saying that folks don't even wait for black friday You want something in particular if it's available for christmas? Get it now online shoppers looking to stock up for the holidays are finding that already Virtual store shelves keep getting emptier consumers saw two billion with a b out of stock messages last month That's adobe analytics said in the study released tuesday based on total page views that include available goods The share of out of stock messages rose by a third compared to a year earlier adobe sent the email compared to october 2019 the share more than quadrupled Yeah, I mean not even fair to compare it to october of 2019 Much of the dislocation coming during 2020. That's kind of an obvious statement in its own right The increase underscores how port congestion and a squeeze on trucking capacity are rippling through the consumer economy Retail giants such as wal-mart and targets say they're prepared to handle the holiday rush. What else are they going to say? Right? What are they going to say? We're not going to do well. We're going to fail during the holidays You're not going to hear them say that folks Uh, the stocking headaches mean the shoppers will need to be prepared to be flexible. That's quite a spin on things The good shortage is not just online according to morning consult The study found that among those who have already started their holiday shopping Well, then half reported that a product they wanted to purchase in a store was out of stock more than half I think this is going to persist in a big way folks get ready for it as it keeps coming All right before we get to the holidays though We got a special treat coming up at tfnn a week from tomorrow folks wednesday november 17th Mr. Larry pesavento He is going to be in live a live trading webinar trade what you see You can sign up for this on the front page of tfnn.com It's a five hour live webinar from 9 a.m. Till 2 p.m. Eastern time next wednesday november 17th The full five hour archive will uh, excuse me the full five hour webinar will be archived if you can't attend live During this live trading five hour webinar, you'll see the tools you can use to generate consistent profits Is as how larry puts it you'll see when to use abcd's as a leading indicator When not to how to use the patterns within the larger trend including adjustments you should make if you're trading abc countertrend You'll see the deconstruct abc patterns how to break them down join larry a week from tomorrow folks That is going to be 295 dollars What you do gain is you get a month of his newsletter fibonacci 24 seven That's a 97 dollar value order already So it brings it down by about a third of the cost if you're already a subscriber to fibonacci 24 seven You'll receive your next month for free as well. So that's an automatic savings as well. It will be archived folks Uh, I encourage you to go to the front page of tfnn click on the link You can see what larry is going to be talking about in terms of methodology During this five hour live trading webinar, uh larry can't be live trading in terms of every minute of the five hours So as he's looking at the markets walking you through the trades, he's setting up He's going to be going over those methodologies in terms of what patterns that he's using Uh, the patterns that help identify shifts in supply and demand not talking about abc's Trend change pattern that gives you an early entry into the trend. How do you use abcd's to generate direct market feedback? Um, et cetera, et cetera. Check it out folks. He always does an outstanding job Uh, and for those that attended the prior webinar that larry did live trading in august You're gonna get to go to this one. So that should be a good turnout as well.  We got that and then the week after that is thanks Giving folks time is marching on in a big way All right, speaking of time What else is going on today? It's a big day folks It's my dad's birthday if you see him in the den if you see him on his program Wishing him a happy birthday. Happy birthday dad. Gotta love it man. Send him an email obi one at tfnn.com There you go. Happy birthday, man. Gotta love it birthdays and with that We got the s and p's creeping back into negative territory folks s and p's negative by four We just gave back about 10 points to 46 90 nasdaq holding on to some of those gains up 15 right now Dow off a hundred little bit of a sell-off rustle off 13 little bit of a sell-off Let's check out that vex volatility index right now 1753 let's jump around to some of the stocks are moving this morning g e up about 5.7 percent as the conglomerates gonna split things up tesla shares Watch out folks tesla. They must have heard me talking about elon's brother selling About 15 percent of his position for 110 million dollars up at 12 29 I kid but tesla giving it back who somebody else is selling maybe elon's brother selling the rest of his stake Maybe that's elon. Maybe that's elon selling 10 percent of his position with 20 billion dollars You never know folks. I mean I kid but hey it might be happening As you got tesla down 2.8 percent that thing is dropping man. Watch out Let's check around some of the other stocks amazon shares up a percent right now Microsoft shares flat apple shares right now up half a percent We jumped a paypal that had their numbers out Yeah paypal continuing to drop down about 10 percent right now you pull up the weekly Man and like I said, we're kind of stuck at these highs that we had back in 2020 You break through those highs next stop is 175 for paypal down from 205 All right, let's check out what else we have in terms of commodities currencies this chart of bitcoin My goodness sitting at 68,000 right now. You got crude sitting at almost 83 bucks Gold contract up $2 this morning at 1830 and notes and bonds We got the tenure sitting right now yielding at about 1.45 percent You check out this chart not quite a trend line. You might have a little triangle action going on right now Man, we get up to the upper portion of this trend line though You're talking about 133 12 almost a full point and a half above We're trading at right now on that tenure All right, folks. We get all the indices in the red. We'll be right back in three minutes to finish up the show Sharpening your skills as an investor is like getting better at playing a musical instrument You have to practice sure, but you also need excellent instruction from experts At tfnn you'll get advice and guidance from the authority and technical market analysis And it's not just dry tedious text either tfnn airs live financial content streamed live on tfnn.com and tfnn's youtube channel with tiger tv Live every market day from 8 30 a.m. To 4 p.m. Eastern or free Each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world From the moment the market opens until the closing bell sounds tiger tv has eight different shows with expert hosts To help you make the right moves with your money watch online at tfnn.com or on tfnn's youtube channel And become the investor you were born to be tfnn educating investors You might think that if you want to be successful at trading in the stock market You're going to need a crystal ball after all it's impossible to predict the future, right? Like any endeavor in life before you decide it's impossible get some advice from the experts You might find that it's not so impossible after all for daily market overviews that give you direction on the key indices selective stocks and commodities subscribe to the opening call newsletter at tfnn.com The opening call newsletter is written by basil chapman creator of the trading methodology known as the chapman wave The chapman wave up down sequence gives you an edge in identifying price turns Finding the peaks and valleys in stock prices get the opening call newsletter by basil chapman and your inbox every day First time subscribers also get a 30 day money back guarantee If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up tfnn.com educating investors Are you looking for a secured investment which pays you on a monthly basis The tiger first mortgage program may be the program for you The best rate on a five-year cd in the country right now according to bankrate.com is paying 1 per year or $1,000 per 100,000 invested The tiger first mortgage program pays 7 per year paid monthly on secured high value Buildable properties in st. Petersburg, florida The investment is for four years paying 7 per year or $7,000 per 100,000 invested Your investment is secured by high value real estate in st. Petersburg, florida Your investment can be anywhere from 100,000 to 500,000 Do you want to make 1000 per year on 100,000 invested or 7,000 per year on a secured tiger first mortgage? The tiger first mortgage program may be just the program for you The tiger first mortgage program pays 7 per year paid monthly for more information You can call<PHONE_NUMBER>. That's<PHONE_NUMBER> This segment is brought to you by thinkorswim For more information, just click the thinkorswim banner on the front page of tfnn.com Welcome back folks. We got markets sliding into negative territory a bit. There's your s&p action We're down about 16 points from where we were on the open from 4,700. We touch a high of 4,700.5 We're trading right now at 46, 84, 75 in the s&p is nasdaq 100 down about 30 points right now Dow off 94 we jump over to robin hood robin hood shares down 3.1 percent You see the drop off last night that having to do with the data breach 7 million people uh is what they have there 310 of them pretty small number So far are the ones who suffered the worst privacy compromise is what bloomberg is talking about here In terms of basically talking about birth dates addresses and the likes for those people The one thing i'll say here folks is it's never The full story when this stuff first comes out and robin hood's got some issues in a big way And this just going to weigh on them even further you jump over to the analyze tab right now We're talking about a company valued at 32 billion dollars almost you check out the chart on robin hood There's your three-year weekly. Yeah, we don't need a three-year weekly. This thing's my public. There's your daily I mean you're talking about pushing all-time lows of 33 25 after this thing spikes to 85 bucks That was a little bit of a reddit fueled meme stock mania. Uh, and yeah, I don't know where this thing goes folks crypto Crypto's on fire crypto's going nowhere robin hood has that market right now But they don't have anything that prevents crypto trading from going anywhere else. I mean, there's no reason That the likes of whether it's td ameritrade thinkorswim charl schwaab sponsors of our program But even the likes of fidelity the likes you're going to have more options to trade crypto to use crypto in the future And the fact that robin hood is just making so much money off of that sector right now Um, not sure that's going to be a long-term success story and it seems like they just keep getting piled on here Uh, data breach to seven million people negative stories are plenty for that company in a big way Bitcoin 68,000 we're holding steady gold up one dollar market's giving it back a bit We'll jump over the vixx as we end the program vixx pushing 17 88 all things considered pretty low volatility right now as we come into a Potentially pretty volatile time end of the year market sitting at all-time highs. We got ppi through the roof We might get a new fed chair all of that market sitting at 46 82 nonetheless. Thanks so much for tuning in folks Stay tuned. We got our man basal Chapman. He's coming up next. He did his program at 8 a.m. This morning We're going to play that now. We got larry pesavento live at 11 and don't forget about larry's live trading webinar folks a week from tomorrow Sign up right now. You'll start his newsletter. Thanks folks


So the title of your book is Thinking Fast and Slow, and you talk about two systems, system one and two. Can you give us an example or tell us a bit about the characters in the book? Well, the characters are indeed system one and system two, and system one is, you know, it corresponds to a distinction that everybody recognizes in their own thinking, that there are some thoughts that just happen to you, and there are some thoughts that you must generate. There is a lot of mental life that is completely effortless, and then there is some of mental life that feels like work. And so that distinction is obvious and people recognize it.  When I say two plus two, a number comes to your mind, you didn't bring it there, it just came, it happened to you.   But most of the time, you know, when I speak, the words just come. So that's system one. And a system two is, well, there are really two types of operation that system two performs, and one is complex computations, and that is where the pupil dilates, and you know, there's, this is mental work. So mental work is involved in, you know, a short-term memory task. If I ask you what is your, what was your previous telephone number, you'll work, and your pupil will expand by about 30 or 40 percent of its area as you retrieve this. Then there is self-control, the inhibition of impulses, the, when you are indeed choosing your words carefully because you don't want to offend or those are situations in which system two is hard at work, and you feel it. So it corresponds, system one and system two really correspond to experiences that are readily available and that everybody recognizes, so that distinction between something happening and something that you do is, I think, pretty compelling to most people. The dichotomy that you've drawn between system one and two, how does that relate to the previous work you've done on heuristics and biases? Well, it turns out, you know, we had, Imstwoski and I, when we started our work, we had something in mind that was fairly similar to that. We were interested in intuitive statistics, so in, you know, the estimates that come to people's minds about probabilities and so on. Now in many of these cases, we were both teachers of statistics, so we were testing our own intuitions but we knew that we could compute. So in our very first paper, we distinguished intuition from computation and our point was that intuition is, in some cases, surprisingly error-prone and that people should rely on computation. That's fine, yeah. So that's, that was the beginning, but we never studied what I now call system two. Then our work became controversial and people attacked it and criticized it. And there was something that essentially all the criticisms and all the experimental criticisms of our work had in common in that they were created a situation in which people could figure out the answer by working on it and that was really the background. So Imstwoski and I in the very last paper that we wrote together, we answered one of our very persistent and well-known critics, Goetge-Grenzer. And we pointed out that in his experiments, typically people would see, so well how would I describe it, one of our most, our best known examples in heuristics and it's one of the best examples in the heuristics literature is the Linda example. So Linda is that young, not so young woman, she's about 30 years old now and but I'm telling you that when she was a student she was an activist, a feminist, marched in all the marches. I didn't say feminist actually. And then we asked people how likely it is that Linda now is a bank teller or how likely it is that she is now a bank teller and is active in the feminist movement. Now there's no question that when you ask different people those two questions they will invariably say that it's more likely that she's a feminist bank teller rather than a bank teller. When you ask them the two questions to compare the two options, you're allowing system two to check logic and by priming logical reasoning and by creating some, you can sensitize people so that they will detect that obviously she is more likely to be a bank teller than a feminist bank teller but that seems to be a different process. When people see only one example they evaluate the fit of that example. When you show them two things together they can also compare them and you provide another cue and that was really the background to the distinction between the two systems with a controversy around our work. It was an attempt to resolve that controversy by pointing out if you do it between subjects you know if you do it the way the world is so you make judgments intuitively about things that they happen you get those effects and you can make them disappear by allowing logic to play. I've worked a lot with anchoring you know so that's a phenomenon somebody puts a number in your head and it looks plausible after a while I mean in fact this is the way our mind works we hear something strange we try to make sense of it trying to make sense of it it makes us more prone to believe it so anchoring is is a suggestion effect that's very powerful you can recognize when you're being anchored so you know if you are in a negotiation situation and the other side you know has an outrageous number you know there is you could become anchored and that is


In the previous sections, we understood the notion of a commodity and then the notion of money. Then we moved to the study of capital and then we looked at the effect that capitalist relations of production have on the organization of the production process. Now in a sense we are going to move and ask a very different question. So we have seen that capitalism which can be represented through the circuit of capital is primarily interested in generating surplus value. So we have understood how this surplus value is generated. So we have understood that capital can be represented abstractly as this process which generates surplus value. Now we want to ask the question what does the capitalist system do with the surplus value that it has generated. Once it has generated the surplus value what does it do with it? There are two things that the capitalist system can do with the surplus value. Either it can consume it or it cannot consume it and invest it. If the capitalist system consumes all the surplus value it has generated then we have a scenario that Marx refers to as simple reproduction. Simple reproduction means all the surplus value is consumed and therefore the production process carries on in the same scale. The scale of production, the size of the production process, the size of the capital involved in the production process does not change. So that is if all the surplus value is consumed. The capitalist system does not really consume all the surplus value. In fact it only consumes a small part of the surplus value and rather invest the major part of surplus value back into the production process. When it invests the surplus value back into the production process and consumes a small fraction of it we have what Marx calls the accumulation of capital. In fact there are two sub cases to consider. If the investment takes place with the key parameters of the production process remaining unchanged and by the parameters here I mean two parameters the rate of surplus value and the organic composition of capital. If these two parameters of the production process does not change then what we have is what Marx calls the expanded reproduction of capital. On the other hand if we have the more general case where along with reinvestment of surplus value we also have a change in the key parameters of the process then we have accumulation of capital. Now no matter which of them we are considering accumulation of capital or expanded reproduction whenever there is reinvestment of the surplus value it increases the scale of capital it increases the scale of the production process. The size of capital involved in the production process increases because the surplus value that was generated is reinvested back here. So the amount of capital at the in the beginning of the next cycle of production is bigger than what it was in the previous cycle and that is why the amount of capital value involved in production increases. The size of the capital value can increase in the production process through two methods one of which Marx calls the concentration of capital and the other is what Marx calls the centralization of capital. What is the difference between the two? Concentration of capital refers to the case of an increase in the size of the capital by the reinvestment of surplus value generated in the firm itself. So when a firm when a capitalist enterprise reinvest the surplus value it has generated and thereby increases the scale of its production the size of the capital we have concentration of capital. Concentration of capital is different it refers to the fact when different existing capitals are brought together through the process of what we today call mergers and acquisitions. So if instead of the reinvestment of surplus value what is going on is a hundred small firms are brought together under the ownership of one capitalist through a merger process we have concentration centralization of capital. Marx points out that as the capitalist system develops the key way in which the scale of production increases is through centralization even though concentration goes on because capitalist enterprises do reinvest their surplus value the key way in which the scale of production increases is through mergers and acquisitions. Those are some of the key features or key concepts that relate to the accumulation of capital. But now we are going to ask an interesting and puzzling question and that will allow us to understand another important concept that Marx brings to the fore which is the concept of the reserve army of labor. So the puzzle is the following when there is accumulation of capital when there is reinvestment of surplus value that leads to an increase in the demand for labor power because when capitalist enterprises make investments part of it go to purchasing means of production part of it go to purchasing labor power. And therefore with the increase in the reinvestment and the increase in the scale of production the demand for labor power increases. Now if demand for labor power increases the price of labor power will increase everything else remaining constant and therefore when the price of labor power increases the amount of surplus value that will be remaining with the capitalist will fall meaning the rate of surplus value will fall. And it might even be the case that the rate of surplus value falls all the way to 0. If the rate of surplus value were to fall all the way to 0 then the source of income of the capitalist class would completely dry up in a word capitalism would end. The puzzle therefore is that capitalism constantly reinvest large part of the surplus value increases the scale of production. But with the increase in the scale of production the demand for labor power increases. If there were no mechanism available to counteract that the increase in the demand for labor power would lead to an increase in the price of labor power which would ultimately eat into surplus value and reduce profits. So the question is what is the mechanism available to capitalism to make sure that the price of labor power does not increase too much and by too much I mean it does not increase to the extent that it removes all surplus value from the system. This was an important question which had been addressed by previous scholars previous classical economists. The answer to this question that was provided by Ricardo drew on the theory of population that had been propounded by Tr Malthus. So the answer that Ricardo gave was the following when the demand for labor increases the price of labor power increases what that means is that workers now have larger incomes the ability of workers therefore to increase their family size increases. And therefore with the rise in incomes the population of workers increase. As the population of workers increase there is an excess there is an entrance into the labor market of more people and that puts a downward pressure on wages and brings it back to where it was earlier. So it was the theory of population given by Malthus which was used by Ricardo to explain why the capitalist system does not have a tendency for the wage rate to increase the value of labor power to increase and to eat into the surplus value which is the source of the profit of all capitalists. Marx was very critical of the theory of population that Malthus had propounded. And therefore he had he wanted to propose an alternative mechanism. The mechanism that Marx proposed to answer that same question relied on the notion of the relative surplus population or the reserve army of labor. So what was Marx's argument? Marx's argument was the following with the accumulation of capital there is an increase in the demand for labor for labor power increases the demand for labor power when it increases it reduces the rate of surplus value because a higher amount of the value added is returned to the working class in terms of the wages. Once the rate of surplus value falls there is an incentive for capitalist to start searching for new methods of production which save on labor. So therefore instead of using the population theory what Marx proposes is an inherent tendency an intrinsic tendency in capitalism to introduce technology which saves on labor what is today called labor saving technical change to deal with the decline in the rate of surplus value. So labor saving technical change the technological changes which reduce the amount of labor used in the production process is the response of the capitalist system to the increase in the price of labor. This has two effects. It reduces the demand for labor why well it is labor saving technical change. So therefore the amount of labor required to produce whatever is being produced is going to be lower after the technological change has been introduced. So the demand for labor power falls what about the supply? The supply of labor power increases why because when labor saving technical change is introduced some of the workers who are currently working lose their jobs instead those work those jobs those tasks are now done by machines. So on the one hand the demand for labor power falls and the supply of labor power increases the result is that the pressure on wages go down. And therefore the price of labor falls. So the wage rate falls and therefore the rate of surplus value is restored. So this is the mechanism through which the capitalist system is able to deal with wage pressures when there is an increase in the demand for labor that comes from the accumulation of capital. So what Marx is proposing here is to think of the labor market as being divided into two parts. The total labor market is divided into two parts. One part is what Marx calls the active army of labor. So these are all the workers who are currently employed. But in addition to the active army of labor there is always a relative surplus population which is what Marx calls the reserve army of labor. The reserve army of labor are all the workers who are currently not employed but are potentially available to capital to be drawn on if the need arises. We can think of the flow of labor power through the labor market as follows. Every period new workers enter the labor market. So that's the flow A. Some of them find jobs so they become part of the active labor market. Some of them do not find jobs therefore they become part of the reserve army of labor. There is of course a movement between these two boxes. Some of the workers who are currently employed might lose their jobs. So therefore there is some movement from the active army of labor into the reserve army of labor. The opposite movement also happens. So some of the workers who are currently not working might find work and then some of the workers who are currently employed would finally retire and move out of the labor market and some of the workers who are currently in the reserve army might get discouraged or become old and move out of the labor market. So the reserve army is the relative surplus population that is essential to stabilizing the movement of wages in the capitalist system. So instead of a theory of population it is a theory of the generation and reproduction of the reserve army of labor which was essential for Marx to answering that question and addressing that puzzle. The reserve army of labor it in turn can be thought of as three different components. So it has what we can call the floating reserve army. The floating reserve army are all the workers who lost their jobs who are at one point in the active army of labor who had been employed but who lost their jobs because of labor saving technical change or because some businesses went under when there was a general recession or depression. That part of the reserve army of labor is what Marx calls the floating reserve army. The second component of the reserve army is what Marx calls the latent reserve army. The latent reserve army is all the workers who are potentially available to be drawn on by capital but who are not right now part of the labor force. There are two important components of the latent reserve army, one household labor. In most of the capitalist world household work is done mostly by women. Lot of those women do not enter the labor force but they are potentially available to be drawn on when the need for excess labor arises. In fact, in the post war period in the US and Europe lot of labor who lot of women who had earlier been not in the labor market were drawn into the labor market. So that is the one component of the latent reserve army. The other component is peasants, peasants in third world who might not be in the labor market selling their labor power but might be working on small plots of land they can be drawn on by capital if the need be. So that is the latent reserve army. The final and third part of the reserve army is the stagnant reserve army. The stagnant reserve army are those workers who at some point might have worked but for long periods have not been working either because they are discouraged or because their skills have become obsolete or for other reasons they are not able to be part of the labor market. In any case in the capitalist system there is always available a large reserve army of labor a large relative surplus population that is surplus to the need of capital which bears the cost of stabilizing the system. It is the replenishment of the reserve army of labor which is the key mechanism that moderates wage pressures and therefore the capitalist system requires to constantly reproduce this relative surplus population if it has to continue the production of surplus value. So let me summarize in this segment we looked at the issue of accumulation of capital that is the question what happens to the surplus value that has been generated. We saw that a large part of the surplus value is reinvested in production. The reinvestment of surplus value in production increases the scale of production increases the capital value in production that process is known in most general terms as the accumulation of capital. We saw that the scale of production and the size of capital can increase either through the concentration of capital or the centralization of capital. And lastly we looked at an interesting and puzzling question. What is the mechanism available to capitalism to make sure that when there is an increase in the demand for labor power with the accumulation of capital the price of labor power does not increase to the extent that completely wipes out surplus value. And we saw that the key idea that Marx brought forth to answer this question is the reserve army of labor the existence and the reproduction through time of a relative surplus population which stabilizes wage movements. With that we have now completed the main argument outlined by Marx in the first 25 chapters of capital. In the last segment of this module we are going to ask a historical question. How did the capitalist system emerge? Meaning what were the historical conditions of origin of the capitalist system? And we will see that the Marx brings brings forth the concept of primary accumulation or original accumulation of capital to answer that question.


Tom here from Morning Systems and you'll find a video linked down below that I just posted the other day about setting up tail scale with TrueNAS scale and being able to route different networks over it and talk to your TrueNAS device remotely. And I had said in that video and correctly at the time based on the knowledge I had available to me that it did not work for setting up two TrueNASs talking together. Well, after someone left a comment and me doing a little bit of fiddling around and figuring out what the settings are that's what this video is. It's just a update and an add-on essentially for that video to cover exactly how to get to TrueNAS systems talking to each other over tail scale. There's a couple options you have to click and a couple things that you have to note to make this work properly. So let's just jump into it. We're gonna start with a little draw.io diagram I have here. We have our TrueNAS scale system and we have the Telnet IP of location A.  Now the goal is to have a replication task that gets our data replicated over to here. All other things are the same as they were in the other video. We have the coordination server coordinating where these devices are. We're not going to be adjusting any firewall settings. So in this video, you may or may not have and you do not need access to the firewall in terms of being able to configure it. This is just a basic as long as tail scale will work through these firewalls, which generally it works through most any firewall. This scenario should work.  I've already got these two systems adopted. There's location A and location B and there's respective Telnet IP addresses. We will be using the Telnet IP addresses for all of these settings here on out. Now, this is our destination TrueNAS and we're gonna go over here to apps and we're gonna go to our tail scale. We see it active and already set up and we're gonna go here to edit. Now you can set this up new and do this. If you edit it, just check the box and change it. I've already checked the box to make the change, but user space was checked by default. We want to make sure we uncheck user space. Route advertisements doesn't matter. Those are for the other use case, as I said in the other video, but we uncheck user space. We scroll down here and we want to check host network and when we click save, it'll redeploy this and this will bind the network into the network interfaces over here inside of TrueNAS. And there it is. There's our bound address and it's all set. Now, you notice there's no description here. It is set to DHCP and it's called tail scale zero. So all these are finders. No settings that have to be changed here, but we do want to go to the system settings. We're gonna go to general and we go to settings over here for the GUI settings and we want to make sure it's bound to zero, zero, zero. Now that's the only one this can be bound to. The reason that's important is because when you go to add the credentials, the easiest way to do this is going to be have one TrueNAS talk to another TrueNAS and we're going to be using the tail net IP address. And if you have specific IP set on your TrueNAS and you've said only bind to a specific IP, which I've recommended many times for security reasons, if you have like several adapters and different IP addresses, but maybe those other networks are only for storage or other networks, you want to expose only certain things, but not the web UI, when you lock it down, then you may only bind it to the addresses that you want it to be accessed on. Well, that is tricky if you try to do the tail scale because the tail scale address doesn't come up until after the system starts. So you can't bind it to the tail scale IP address because when the system starts and it's starting up all the other services, that doesn't exist until the application start and then it shows up. So the only way I found to make this work was to bind it to all the IP addresses, which by the way is the default in TrueNAS. So if you have kind of a stock setup and you haven't modified that, it should be bound right there. The next thing we have to do is do the same thing to SSH and make sure it's listening on all ports. And for that, we're going to go to system settings and services. We're going to be here to SSH. We'll go to advanced settings and you see I don't have it set to bound any address. If you did, once again, you'd want to set it. So if you choose none, that actually means it says, okay, bind to all these addresses. I'm not sure what would happen if we tried to bind it to this because SSH generally is going to start before the applications. Maybe you could restart SSH and have it bound only to this if you had a use cage for it. But for the most part, we're just going to leave this bound with nothing here, which means all addresses. Now we're on our source system. And for here, we want to go over to credentials. And we're going to go over to the backup credentials. And we want to add an SSH connection. Now I've already added one. And that's this TrueNAS Mini R. That's our destination. But for the destination, please note, once again, we're using the host IP address of the tailnet on here, everything else is the same. You want to make sure that is the choice you're using for this, not the local IP address that that device has. For the last step, we're going to go over to data protection, we're going to scroll down, and we're going to add a replication task. I filled this all out pretty standard here. We've chose our TrueNAS Mini R right here. But at the bottom, this part is really important. SSH transfer security. No encryption or encryption. You want to make sure you leave it on this setting here. And let me show you under the advanced settings what that actually means. That's going to control our transport. We can use SSH or SSH plus netcat. And the reason I bring that up is because I want to talk about what SSH plus netcat does. This is a feature that was added to TrueNAS a long time ago. And when you have two NAS systems that are local, and you want to get the data ZFS replication data to move as fast as possible across your local network, you'll run into some limitations of SSH. To eliminate those limitations, they added the option of SSH plus netcat. This means SSH will talk to the two devices and they will agree upon a port to bind to using netcat and they'll stream the ZFS send data over netcat. So that process seems to break, though, with the tail net. My assumption is because netcat wasn't, well, expecting a new adapter to be added. And it has some problem establishing some connections over it, or just seeing it because netcat goes that wasn't there when I started. And because it's tied to that application being loaded is probably why that breaks. So as long as you're just using it over SSH, it doesn't seem to have any problems at all working. And I play with this a little bit and it just stops. It starts the netcat because what it's doing is starts the listening process, but it just freezes right there and the replication never gets any further. But as long as I had an SSH, I had no problem getting a replication working. I wanted to leave that there in case anyone was going, well, I want the most speed possible out of this. And well, it may not work very well. But if you're transporting it across tail scale, the overhead of that and across the internet, the slow connection that you may or may not have, depending on what speed is offered at each end of this, you have other limitations and it might not be SSH that challenges you as much for the speed, but something I want to throw out there. But if you are looking after the ultimate optimal speed, well, yeah, SSH post netcat is probably going to be better when you have a external VPN like in two different firewalls where you can establish a faster connection, especially if you're doing something like data center level replication. Yeah, if you have that kind of speed access, you probably just need to set up a VPN inside your firewall. But that's all I have for this tutorial today. Love to hear from you. Leave your thoughts and comments down below on this topic. If you want to engage with me more in depth, hover to forums.laurancesystems.com. That's a great place to have a discussion on this and other topics. If you want to see more content from this channel, like and subscribe. It really does help me out and that like button does seem to do something on YouTube to help the algorithm suggest this video to other people. 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