The following is a presentation of TFNN. The morning market kickoff with your host, Tommy O'Brien. Good Wednesday morning, everybody. I'm Tommy O'Brien, coming to you live from TFNN just after nine a.m. Eastern time. It's fed day. Do you have your fed hat on? We ready for a pause? We ready for a skip, a hold, whatever you want to call it, two o'clock Eastern time. Today we find out the press conference to follow at 2 30 p.m. Eastern time is going to be especially spicy as the chairman will have some explaining to do, regardless of what he does, as usual, but this is probably to put it lightly, the end of a hiking cycle that's been one of the most aggressive, one of the fastest, maybe ever, going back to at least in my lifetime and many generations in terms of going from basically zero to 5% doing it in 15 months and we are nearing the end of that potentially as we are probably gonna get a pause or a skip. We're gonna get it today. The market loves it. The market has been loving it though. What's it been loving, folks? It's been loving a bank crisis. Pretty remarkable, right? So check out how we're gonna kick off the program, man. We're gonna back things up too. March 7th, when chairman Powell was in front of Congress, I believe that was his biannual appearance in front of Congress, that's when the market freaked out because he said we're probably gonna have to go higher for longer, something to that degree. And on that day, you had a high print in the S&P of 4064. You traded down about 80 points finished at the low of the session. The next day, he was in front of the other chamber, whether he was in the house first or the Senate first, I forget, but it was the March 7th and 8th. He was in front of one. Next day, he came back. It was a little bit easier on the verbiage in terms of how aggressive they were gonna be. And then March 9th, the banking crisis began. And it lasted for two days. I kid, not really. We got down to 3850 and the market's been on a one-way trip and we've traded up almost 550 points, 600 points. You're talking about a 15-point, 15 percentage point acceleration, 15% acceleration off of the lows of above 3850. We're pushing 4418. And it's pretty remarkable, fundamentally. Okay, we're taking a big picture look here before we jump through everything, but boy, it's an important one to keep in context, folks, in terms of where we were coming into that number. Now, there's two elements of this. Number one, yes, things have tightened up a bit, okay? Banks are gonna show up their balance sheets. Consumers are aware of where they're putting their money. Banks are having to compete for that capital. They're hard to pay higher costs in the same degree. So they're tightening their books at the same time. That's causing capital to be a little bit tighter than usual. That could be akin to another 25-basis point hike that maybe the Fed doesn't have to go to, okay? But it's pretty remarkable that that is the breaking of the system that's somehow going to tame generational inflation. I'm not so sure that's the case. And if that's not the case, then how did we get so ahead of ourselves from where Chairman Powell was on March 7th? Well, what could be happening is the stress on the banks is a little bit tougher than we realize, I think, folks. The commercial real estate reckoning that's probably coming in the next couple of years probably gonna weigh heavily on those institutions and the rate that they're gonna have to refinance at is gonna be a huge factor of whether a lot of them walk away, hand those keys back to the bank or not. And yeah, I'm not so sure, you know, a two-day banking crisis. I mean, pretty remarkable, right? To put that in context, when you take a look at it, I mean, I'm sure we remember the days, man. March 7th, remember that day?  Market started selling off. It said, hey, we are not there yet, man. We might have to go higher for longer. Two days later, March 9th, you really got the acceleration. March 10th, we finished things off at about 3846. And we came back on Monday and the world was saved. And we go higher from there. Pretty remarkable when you look at the world we've had, right? You put it in that context. All right, we jumped to market so far. A lot of calmness today. We were up to a high of 4428 overnight. Right now we're positive by two points in the S&P. You get the Nasdaq 100, slightly in the red, off by about nine points. Let's see where the Nasdaq 100 is. Says that March 7th, March 9th, March 10th, Nasdaq 100 is up like 30% since then. Remarkable, man. Yeah, 11,700, you're up 3,300 points. Almost 30% remarkable from that price point. The Dow, probably not gonna be up 30% like the Nasdaq. Dow with a steep sell off as you can see March 9th, you come down to a price of about 31,700. You're up about 2,700 points in the Nasdaq 100. Excuse me, Dow up 2,700 points in the Russell is up four points so far this morning. You're probably gonna see some calm action all the way up until two o'clock and then the fireworks begin, of course. Bitcoin this morning, 26,000 up about $130. We jumped to gold this morning. Little bit of volatility as the dollar jumps around this week, gold up by $11. 1969, you get silver up by 17 pennies right now. You got notes and bonds. A little bit of higher price, lower yield. Look at the volatility yesterday, right? As we got CPI data, you had the 10 year go from a price point at the beginning of the day of 113.30 and you traded down over a full point. Absolutely remarkable, man. You jump over, you're talking about yields. You're talking about yields right now 3.79%. And that's where we are right now. Basically, a tenth of a percentage point, 10 basis points is what we traded yesterday in terms of we started the day at around 3.7, ended at 3.8 for the 10 year, higher yield. And what does that do? Doesn't lift the dollar. You had volatility in both directions and look at the action today, man. Weaker dollar as we have slightly lower yields as well, the dollar now below 103. You put this thing on a daily and you may be making the run back to 101.50. Pretty remarkable. Big picture, the reason why I go over that acceleration. Big picture, there's a lot of optimism priced into what's going on today, folks, okay? You get the S&P up about 550 points, okay? And what is that percentage?  NASDAQ 100, it's up like 30% over that period of time. Lofty levels to put it lightly. All right, we're gonna jump around a bit. And this is a great piece, man, from another O'Brien. No, John Authors, this is not O'Brien. They got a great O'Brien, I think I have another. Do I have an O'Brien article up here? No, I don't. I thought I had an O'Brien article up here. Maybe I do. Is it a Tom O'Brien? Either way, John Authors. So this is an opinion piece, but man, there's some great information. And we're gonna start it off with this chart. We're gonna come back, we're gonna talk to our man Kevin Hinks from TD Ameritrade Network Fast Market. We'll finish this conversation up later in the program. But this is the best breakdown I've seen of where inflation lies, okay? On the bottom, you have, in the blue, services. As you can see, service is a huge chunk of what is persisting for inflation. You take a look at energy. Yeah, you back things up to the middle of the spike. It was huge. Energy, actually, the only component that is going down right now, bringing down inflation. You look at goods, X, food and energy. Very small number recently. And then you have food up there as well. But what's sticky, folks? Services, X, food and energy, and we get to find out whether the Fed's gonna give that some room or not to catch up with the lag. And yeah, it's an interesting one, man, but it's got a long way to go to get back. Remember, all of these lines together are supposed to be at about 2%. And you can see that the core services number is usually a huge component of that, right? It's usually just services, X, food and energy with a little bit of energy on top. We're gonna get that number down, man. We got a long way to go and we got a Fed about to pause today. We'll talk about some of that other data when we get back. We'll talk to our man, Kevin Hicks. Stay tuned, folks. We'll be right back in three minutes. Don't go away. We have exciting news, Tigers. This June, Tim Ord of the Ord Oracle will be hosting two webinars, providing insight into his renowned market timing methodologies. On June 8th, Tim will delve into the S&P 500, teaching sentiment indicators, identifying market bottoms and divergence, and so much more. 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Ooh, it's gonna be an interesting one. 2.30 p.m. Eastern Time today. And we jump back to that article I was checking out. So, pretty interesting when you see the components that are broken down. As you jump to this four to 5% number and we get to find out today at 2%, whether that matters or not to the Fed, we find out. And to talk about it, folks, let's jump over to our man, Kevin Hinks. Every trading day, folks, 12 noon Eastern Time fast market on the TD Ameritrade Network. We got a fast market as usual and we get to find out a lot today. Let's jump right into it. Kevin Hinks, happy Fed Day. Good morning, Tommy O'Brien. Yes, big day, a lot going on here. I think this is gonna be, you know, here's why today's significant, Tommy, because out of the last 10 Fed meetings, something's probably gonna change today, right? The Fed is gonna go from hiking interest rates to skipping or pausing or some type of change in interest rates. And I think that is significant. Now, how Jerome Powell describes that in his press conference and what happens when the Fed speakers, you know, are done with their quiet period and start talking, how they frame this is probably gonna set the tone for the next couple of weeks in terms of the overall stock market. So, you know, I think what you watch for on something like this, where they're probably gonna skip and it's tree hike, does he get the sense? Does, you know, do the dots plot work higher from where they were? You know, currently right now, Tommy, seven members of the FOMC have dot plots higher than where we are right now. Let's see if that changes or that moves up. But overall, you know, the market is gonna take a lot of this, you know, inflation data that we got today, PPI supply chain inflation is still easing. And Tommy, I was looking at some charts before early this morning. And one year ago today, one year ago, crude oil was at $123. Natural gas was at $7.25. The June CPI data was 1.2%. So all those numbers, and look where we are now, and remember, Tommy, we talk about that 12 month measurement of CPI next month, July, that 1.2% is coming off. So just by that alone, the year over year numbers are gonna drop for CPI. So things are gonna get interesting here, but I think Jerome Powell's worried about over-medicating the patient, but there's still some hawkish members of the Fed that are gonna say their opinions as well. Tommy, it's gonna get real interesting. You could call it almost historic and in the context of history folks today. I don't know if it's gonna stand out, but it is remarkable, Kevin, that we're on the day that yeah, we're probably gonna be at the end of one of the most aggressive hiking cycles that at least I've seen and many have seen. We've all seen those charts now in terms of how quickly the Fed accelerated from kind of the zero bound to 5%. They did it in what, 15 months? And you look at some of the other hiking cycles the Fed has been in, and this one, boy, it dwarfs it, and it's taken out three banks in the process. What do you think about the optimism built in right now, Kevin? In the first segment of the program, I was actually taking a look at, you back up, I get the S&P futures on the Thinkorswim platform right now, Kevin. I got it on a daily. I go back to March 7th, which was when Chairman Powell was in front of Congress and he kind of spooked the markets a little bit, saying maybe we're gonna have to go higher for longer or something to that degree. And then two days later, March 9th is when we got some bank stress that really began. Kevin, I got like two days, man. The lows on this market in that timeframe were literally the next day, almost March 10th, March 13th and we're up like 14% in the S&P since then. We're up almost 30% in the NASDAQ 100. What do you think of the optimism that we've had? Because it's amazing when you look at the chart, right? The stresses, the banks, the collapsing and it's been like two days of negative territory and then we take off from March 13th. What do you think of the optimism, man, with the S&P futures now, over 4,400? Yeah, it's been a pretty historic run, right? I'm just talking on the air and if you look at the NASDAQ, Tommy, the 50 day moving average of the NASDAQ is 13,500. That 200 day moving average is 12,200. We are so far away from the moving averages that the NASDAQ, the S&P are both severely overbought. The Russell and the Dow Jones are approaching overbought in terms of the RSI. Now we all know they can stay there for longer than we'd like them to but yeah, this is getting real interesting and the market seized on this Tommy and took off a while ago and the run has been historic. Yeah, and what gets in the way right now? That's the other side of it, right? Because I don't know what gets in the way of it right now. There's a lot of optimism in and we're probably gonna see whatever you wanna call it, pause, skip today and that's a big moment at the end of the hiking cycle we're on and we'll see what the chairman has to say. As you said, what kind of words, what's his language gonna be like to explain where they go and maybe what some of the other members on the Fed grade points descent and how those dot plots look. With that in mind, Kevin, it's Fed Day. You guys talking any equities or are you just gonna focus big picture on the program today? No, we'll be talking equities on fast market because we're a trading show, right? I mean, we'll look at the overall market, we'll look at what's going on with the Fed but when ours got earnings after the belt today we're a home builder. That's always a fun look at Kroger, one of the largest grocery chains in the US has got earnings before the open tomorrow morning. So we have a lot to do, Tommy and still look at the Fed and then once we get done with that show the afternoon we'll be focused on the Fed for sure but yeah, while we wait for the Fed to make their decision we're trading, Tommy, always. I like it. Yeah, it's gonna be interesting to see probably some calmness in the markets until 2, 2.30 Eastern time and then the fireworks begin. Give us a teaser on Lenard, if you don't mind. We've talked about this before. Boy, these home builders, Kevin, I got it up here, the Thicker Swim platform pushing the highs that we had coming into last year. I got 116 right now on Lenard, rocket ship up from 70 bucks late last year. What do you think about these home builders, man? These, you know, the home builders, they've been, the good news about the home builders is it looks like all the supply chain, all the commodities, all their inputs are all crashing lower, right? From their highs that really paralyze this. And if you look at mortgage apps today, they were spiked higher because overall mortgage rates last week, the third year mortgage came down from 6.81 to 6.77. So overall, you know, what we talk about. Remember, since 2008 and nine, Tommy, the US is still millions and millions of homes lower than they should be in terms of supply. So I think the housing sector is always gonna remain strong. The backlogs are big. And these companies that trade at very low PEs are still making significant money and building new homes. So yeah, it's a good time to be a home builder because they got a little spooked when some of their input costs exploded.  Pretty remarkable how well housing is held up if you told people it was gonna be six to 7% mortgages, man, and housing holding up so well, especially for those new home builders as well. Kevin, I appreciate the time on a busy morning. Fed Day as always, man. We'll be watching at 12 o'clock today and I'll talk to you tomorrow, man. Have a good day, Tommy. It should be a fun one. Should be. Thanks for coming on as always, Kevin. Have a great one. Folks, check it out. 12 noon Eastern time. You heard it. Check out those home builders, man. I got it up on that thinkorswim platform. There's Lenar. And how about D.R. Horton, man? Yeah, above the highs. 115 home builders, man. Stay tuned, folks. We're coming back for the open. Don't go away. Building wealth trading in the stock market seems impossible to most people. They think it's too volatile and risky. Most people aren't going to take the time to educate themselves on how to do it right. But you're not most people, are you?  All TFNN subscriptions, books, software, and courses are available at tfnn.com. And I'm even going to tell you how to get them for less. Use TFNN's Tiger Dollars, and you'll get up to a 20% bonus on your purchase. And once you apply them to your account, Tiger Dollars are automatically used for all future or recurring charges. 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Don't expect a huge sell-off prior to the announcement today with so much looming and we're gonna jump through some of the hot takes in terms of what they're doing. It would be a shocker, folks. The markets would freak out if the Fed did anything but pause slash skip. So as a result, that's what the Fed's gonna do. They would have corrected that ahead of time through some of the Fed speak, et cetera. If that was not the case, they did not do that. So listen to the words that they've given. What is hanging in the balance though is some of the points that Kevin brought up, talking about is there some descent there? Where are the dot plots? What are they thinking? Is this, are they really set on maybe coming back with one more hike to make sure that you don't give it a two-month lag? Where is their approach there? I would love to know what the chairman and the voting members are thinking and we get a glimpse of that today. So we get to find out. It'll be an interesting one. With that in mind, to get the Dow man off half a percent right now, you get the NASDAQ 100, barely in the red, off 25 points. Russell barely, we'll call it flat in the S&Ps. We'll call that flat even though you're down by two. Okay, so getting back to this, some of the inflation talk, all right? Pretty cool graphic here when you take a look at where the components are. Services, they call it, what do they call it? Supercore? What's their term? Where are we? Come on. Services, X food and energy. Okay, it's in the blue here. And you see the persistent nature that we are still ticking at almost 4% in that component alone. And you see the way energy has sucked down these numbers to a headline number of 4%. Yes, the trend is your friend here, lower prices, but boy, we got a long way to go, man, to put it lightly. Now, you talk about core CPI. This is the annualized prints of core CPI. Now, here's what's happening though, okay? Is that you're coming off some lofty comps for July and August that we're gonna have to compete with, et cetera, right? But you could say the same thing about April and May as in last April, the numbers were up 7.8% annualized. So you have to compete with those as you go forward a year, but it's persistent, man. There is no deceleration whatsoever from where you are. They talk about shelter in here, okay? In the blue, we have commodities. This is inflation, okay? Commodities, excluding food and energy is in the blue. You see how it is subsided in a dramatic fashion. Well, what happens though? Goods inflation has subsided. It's shelter that now drives the headline and look at shelter picking up in a big way. It's a big laggard, right? We're aware of that, shelter, big laggard. Well, what's been going on with shelter though? Yeah, we've been seeing some rents dip. I talked about this yesterday or the day before in one of the articles talking about you may actually see a decrease in rents on a month over month basis recently, okay? Yeah, they talk about sticky versus not sticky, man. Sticky CPI, okay? Now, when they talk about sticky in here, sticky are harder to adjust, okay, prices, versus you talk about flexible ones such as gasoline, okay? Sticky inflation has turned down but remains very high and once shelter is excluded, the trend over the last three months suggests that other sticky prices are abating. The issue again is primarily shelter, okay? You look at shelter year over year, but shelter may be dipping. That's one thing that you have to consider over here and health insurance actually talk about dipping as well, but guess what, man, they got a long way to go to put it lightly and I would be surprised if even in the back of the chairman's head, if he doesn't say it, anything's still on the table and there's still data dependent. We still got a lot of data to go. They're going with the camp that, guess what, man, things have gotten tight. The stress in the banking sector, that's causing capital to tighten up. You have the treasury just going to market raising a trillion dollars. That's also gonna be a deluge of supply that's going to tighten up some of those markets as well.  So we get to find out, nonetheless, we get to find out at two o'clock today and we'll go from there. All right, what else we got going on? Oh, yes, no, the last part of this, okay? Talking about some of what they're expecting here, I found this one interesting, okay? What's Citi doing, man? Who would Citi saying they think they're getting a hike? It's not happening, man.  There would have to be some kind of shock for it to be the case. Everybody's saying pause, Citi likes to be the standout. They're saying a hike and hey, if they hike, remember that, okay? But I don't think that that's gonna be what's happening there to put it lightly. And they talk about the different takes of what you're expecting, the fed fund futures.  You're talking about 2023, we're sitting at about 5%. 2024, 4.4. 2023, you're still talking about 3.1. And longer term, you're not getting below 2.5, which is supposed to be the natural rate, right? So that makes sense. They get GDP, they got unemployment. Yeah, that's gonna take some uptick, man. I mean, 4.5% for next year and the year after that. What are we sitting at right now, 3.7? Watch out in this economy, man. Yeah, and there's the hiking cycle, man. 15 months, aggressiveness could be, they were going 75, 50, 50, 50, 50. And only recently did they go to 25 for a couple and they'll potentially pause after that, we will see. All right, what else we got? Yeah, let's talk a little bit of Google, man. So they're accused of abusing its dominance over advertising technology to crush competition. I'd say we all kind of know that's going on. But now you have the EU fired off an antitrust charge that strikes at the heart of their firm sales model and threatens a breakup of the lucrative business. So be careful here, man, because I'd say that the EU means business and they should because I think we're all aware that that's how Google gets it done. And look at Google off 1.7% right now. Say, Google's got some issues, man. Not only are they losing that, but it's going to be quite a deal to see how this plays out in terms of losing their monopoly because I already see a play out, man. I got chat GBT. I use it for a variety of things on this occasion at this time that I never would have considered using it for as opposed to Googling something. And boy, this is just the very tip. They've held the monopoly folks for the better part of 23 years on search. And I'm going back to, yeah, it was probably even before, yeah, it was right around there. I remember I walked into my sophomore dorm room, man. And my roommate at the time was my best friend now. I talk about him many times. He lives in Switzerland. Going to visit him in September for his wedding in Spain with Tommy, that'll be a fun trip. And yeah, he told me, hey, you got to use this Google, man. It's the best search on the internet by far. That was probably 1999 or 2000, 2000, I think. In the year 2000, markets were flat, folks. Stay tuned, coming back, see what else we got moving today for equities. Don't go away. We have exciting news, Tigers. This June, Tim Ord of the Ord Oracle will be hosting two webinars, providing insight into his renowned market timing methodologies. On June 8th, Tim will delve into the S&P 500, teaching sentiment indicators, identifying market bottoms and divergence, and so much more. On June 15th, Tim pivots to the gold market, taking a look at cycle analysis, ratio studies, advanced decline indicators, and other important tools for analyzing this sector. Sign up today on TFNN.com. 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A fund's prospectus and summary prospectus contain this and other information about direction shares. To obtain a fund's prospectus and summary prospectus call<PHONE_NUMBER> or visit DirectionInvestments.com. A fund's prospectus and summary prospectus should be read carefully before investing. An investment in the funds is subject to risk, including the possible loss of principal. The funds are designed to be utilized only by sophisticated investors such as traders and active investors. Distributor, foresight fund services, LLC. This program is brought to you by Vista Gold, traded on the NYSE American and TSX under the symbol VGZ. Folks, you have the S&Ps basically up three. You get the NASDAQ 100 flat. You get the Dow off 165 and you got UnitedHealth. The most expensive stock in the Dow off $39, which is 8% as insurers are taking it on the chin. They came out UnitedHealth. And basically what they're saying is more people are comfortable getting surgeries that weren't urgent. That's pushing their cost hire for insurers as they are getting more surgeries, et cetera. And I was checking out some of these different news articles. Let me just take a peek of where there it is. Yeah, knees, hips, especially elderly coming in, much more comfortable accessing services for things like those types of surgeries, elevated demand for outpatient procedures from medical patients. And so yeah, that's a hit, man. You're off 8% and the way the Dow works, which makes no sense whatsoever, is that it's a price weighted index. So here's what's crazy, right? I'm gonna jump right out to some of these. So you got, yeah, check it out. So you got a price weighted index and you have UnitedHealth off $40. Meanwhile, you got a company like Verizon in this index that's not even priced at $40, man. Verizon could go to zero and it would have less of an impact than UnitedHealth trading off 8%. And meanwhile, market cap wise, Verizon is $150 billion market cap and UnitedHealth is $421 billion market cap, right? So yeah, three or four times the size.  Nonetheless, that's the reason why you're seeing the Dow in particular take it on the chin. Some of the other equities that are taking it on the chin with that is CVS. Any other insurer out there off 4.7%. What are some of the others they listed on here? What do you got? Humana, let's jump around. It's gonna make sense, man, because they're big numbers. And look at that, Humana down 14% almost. Elevants Health ELV is another one off 6%. Just reading the, yeah. Yeah, it was UnitedHealth though that highlighted an increase in elevated volumes of non-urgent surgeries. Yeah, so that's quite a haircut across the board for those insurers and it would make sense, man. You know, you're talking about if you got a creaky knee or something like that. Last place you wanted to be probably if you were elderly was in a hospital for extended period of time if you didn't need to be in the last two, three years, but not the case anymore, which is what you're seeing play out. All right, what else we got pulled up? Speaking of, we were talking about at the Tigers Den. We got a long weekend coming up. Just making sure everybody knows TF&N will be closed. We're only closed when the market's closed essentially outside of maybe the Friday after Thanksgiving. I think we're closed because they got a half day going on there. But yes, Juneteenth National Independence Day, new holiday in the last few years, so it sneaks up on people. And yeah, why not? The Fed should bring on more holidays, man. Get the NYSE closed, come on, why not? But yeah, we are closed with the market on Monday and there you go. You see it how it plays out 2023. It falls on a Monday, which is always nice. I mean, look at it, right? It's like you get May 29th, we get a long weekend. June 19th, we get a long weekend. July 4th, who's gonna be working July 3rd, man? Let's see what happens. We close early on the 3rd too.  Okay, we like that. And then you got Labor Day when you come back. The problem is after that, we got dry spell, man. Late in the year, we need some federal holidays late in the year because after July 4th, all you got is Labor Day Thanksgiving and Christmas. That's it. Yeah, versus the beginning of the year. Man, we got Martin Luther King in January. We got President's Day in February. March, they skipped, that's my birthday. That's all right, we celebrate that whole month anyway. But then you got Good Friday in April. You got a long weekend Memorial Day in May. You got one in June. You got one in July, August towards the end of September, the summer, and then what? September as well. So yeah, but then what? October, November, December. I guess you're coming into the holidays. Nonetheless, I digress, but markets. So we're coming into a long weekend. We're coming into a Fed decision. You got markets drifting higher, and we jump over to the volatility index right now. Let's take a look. You get the VIX, 1448, still well above where we were last week. Interesting, right? As things get a little bit elevated last week, there was nothing getting out of the way, man. Now this week, I mean, look at these markets, folks. We're up like 2% from where we were last Friday, right? I mean, you got a 40 point boost just from the rollover of the futures contract. So remember that. But even if you take that out of the picture, you still got the markets up almost 80 points, 85 points, something like that on the S&Ps. And meanwhile, when the markets crept up 80 points this week, we've had the VIX go from 1380 ending last week to being comfortable sitting at about 1450 to 15 this week. So pay attention to that one as well, as well. Because I think last week, that was as good as it's gonna get, man, okay? The writing became on the wall that we were coming into a pause slash whatever you wanna call it. And there was a euphoric week and a half period that nothing could get in the way outside of that CPI data potentially we just saw but it would have had to been a shocker if it happened. And we didn't get it. So we come into a pretty historic day and boy, Chairman Powell this morning sipping the coffee, getting ready, would love to hear in his own head what he wants the market to hear. And I imagine he's gonna want the market to hear that yes, we have been in a historic hiking cycle. We are in a restrictive policy rate, okay?  How much room are they gonna give that lag? That's the key. How much room are they gonna give that lag? And we get to find out at least a glimpse of that when you talk about dot plots, you talk about potential descent. Cause again, it's a historic time. We're at 5% but inflation band is pretty sticky and we are still at a level of 4 to 5% depending on how you look at it. And so there's a lot of lag work to catch up to put it lightly. All right, let's see what else we got going on. Yeah, how about Disney, right? So they shuffled around their movie premieres going all the way out for a while. And they're delaying some of the bigger pictures out there in terms of Avatar pushing them back a bit. We pull up this article here. So they announced a major shakeup of the movie release calendar. I imagine you got Igor there sitting saying, you know what, we're gonna make sure the movies that really matter, we push them out in a methodic fashion. And this could also have to do with the writer strike going on. They're not making probably as much progress as they thought they would when they don't have the scripts to do it. But they revealed yesterday in the afternoon that they're pushing back some of the movies they have as in Avatar was gonna be in 2024. Now they're pushing it all the way to December of 2025. Now they just came out with an Avatar that's like three years in between those Avatar movies. And they go all the way up to 2031. Talk about planning, right? That's when the fifth release comes out. Haven't seen the recent one kicking myself or not seeing it in the theaters, unfortunately. I think it's out there on Disney Plus right now if you have it, but can't imagine it's the same experience watching that on your TV as opposed to going to a 3D IMAX theater or something like that. The Marvel comic universe, some of those get pushed back as well and they actually delayed a Star Wars, but they added a Star Wars as well. Found that interesting. 2025, 2026, we're gonna finish this conversation up because that's when things may start to kick in higher. TFNN has just launched their new trading room, the Tiger Zen, hosted at Discord. TFNN has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours. And now they are expanding their reach with the Tiger's Den, available to all Tigers and Tigresses for just $1 for the year. There's no catch or added costs when you join our community of traders. In the Tiger's Den, you can look over the shoulders of Tom O'Brien and the other TFNN hosts while they analyze charts during their live Tiger TV programs and join an interactive trading community with hundreds of members exchanging ideas, interact with other Tigers and Tigresses as they share trading ideas, news analysis and discuss the market action all trading day, even at night and on the weekends. The Tiger's Den at Discord is accessible on mobile or tablets as well. So it's always at your reach. 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Subscribe to the Fibonacci 24-7 newsletter today. TFNN.com, educating investors. This segment is brought to you by Think or Swim. For more information, just click the Think or Swim banner. On the front page of TFNN.com. Welcome back, folks. We have markets marginally higher. You get the S&Ps up by about eight points right now and NASDAQ 100 Euro by 12. Let's jump around to some of those fang stocks real quick. We jump to Apple shares, up a quarter percent, 183.81. We jump over to Microsoft shares, up a third of a percent right now. Google a different story alphabet as we talked about. They're off eight tenths percent. We jump over to Tesla shares, down a percent as well. Tesla's been on quite a run, man. Speaking of companies on quite a run, Metta, up about half a percent right now. Jump over to the poster board for AI, NVIDIA. How about that pop, man? NVIDIA, now AMD had a show last night talking about theirs as well. Was that two nights ago? I think it was last night, right? Yeah, I think it was last night that they were at their show. They're up by about 1.5 percent. You got NVIDIA shares right now. Up by a percent as well. We jump over to the 10-year on the all-important Fed Day. Sitting basically where we started off the program, up about 12 ticks. We get the 10-year yield approaching about 3.8 percent. And remember, folks, when you're comparing the risk-free rate of return right now, you're looking at the potential. If you have money out there that you're looking to get into CDs, man, I would get into CDs. Put it in a two-year ladder or something like that. You can't go wrong right now with 5 percent. And that's money if you are looking for fixed income because, yes, inflation may persist, but if it doesn't, and this economy gets hit, you're gonna see those rates get hit. Now, banks are gonna be competing for capital. That is not going away. So the CD rates are gonna stay more elevated than potentially maybe the Treasury or something to that degree. But they're all related, so they're all gonna move in step. And also, folks, what do we got? Tomorrow, our man, Tim Moore. He's got a gold trading webinar going on tomorrow. This is a completely different product from the S&P webinar he did last Thursday. This webinar is strictly how he trades the gold market. You can get in there tomorrow at 4 p.m. Eastern time. The cost is $295. It'll be archived for anyone that attends. And yeah, he's gonna be talking about cycle analysis, ratio studies, advanced decline in up-down volume indicators, finding extremes and putting it all together. Looking forward to that two-hour webinar with Tim Ward. That is tomorrow at 4 p.m. Eastern time. But today, we gotta make it through today, man. And we got a wild one to say the least. We finished it up with crude, $70.31, S&P's higher. Go figure, man. But boy, it's been quite a run. A lot of optimism built into this market. Remember that, folks, stay tuned. We got Basil coming up. Have a great day, everybody. We'll talk to you tomorrow. Have a great one.


The Federal High Court in Abuja on Wednesday declined an application by former imo state governor, Ruchaz Okurocha, asking it to restrain the imo state government and the Economic and Financial Crimes Commission from confiscating his properties. A state high court in Oweri had on Monday ordered a final and absolute forfeiture of Real Palm Springs Hotel and other properties said to belong to Senator Okurocha and other members of his family. According to a ruling by Justice Fred in Jumanse who was seated as a vacation judge, Okurocha's council failed to give concrete and verifiable reasons why a final and absolute forfeiture order should not be given in favor of the imo state government. Justice in Jumanse added that a suit filed against the state government by Okurocha's council was not properly filed.


It's real small of a car that's cruising out back with a nuzzle and huge shots of everybody tuning in video And if you aren't subscribed and you want to join a double off family make sure you smash that subscribe button It is day number one of the fixing flip. So the first thing we want to do is Take off this floor. I know when the camera doesn't look that bad in some areas. It isn't that bad But like instance here miss a little piece here and over here it's like all Bundle it up because some water got in here and we actually might have to Put some new plywood under here now I know some people may think why don't you just try to find a floor and try to do it But I think that we just had me to put a new four in here because it might be too hard to find it So we're gonna take out all this flooring and then we're gonna see how well it is right here You might have to put some new plywood. I'm not sure but Enough with the talking. It's time to get to work So we got all the floor enough as you guys can see all the form we got the trimmed out but Let's see when it's when you flip the house. This is what happened. This is a for you I'm sure y'all know who this is. This is a it's my guy's a so When you're trying to do this work on these houses You have to go behind stuff because sometimes you never know what you're gonna get We did know that the floor was messed up over here Where the refrigerator was but after furthering get investigation is Way worse than we thought so I told you guys gonna have to get some plywood Which we're for sure gonna have to get plywood. We have to get plywood and put random plywood all right here and then Next we're gonna take the cabinet out because we need to make sure that is no mold or anything down there So after we take that out then tomorrow, we're gonna put the plywood down Then we're gonna put the new plywood in then we're now we're gonna probably have to get new cabinets because These may be brought it out We can't we knew we knew about about Them having a water problem. They have a water. They already told they had a water leak, but I know it was gonna be this bad So what happens you unpack it something then just you open a can of worms like you gotta do this Now you gotta do that now we might have to get new cabinets And then that means that we ever get a new cabinet I get new crown on top and then this is all this hot all goes Everybody think it's sweet everybody think you just go boom boom boom boom boom then high work Stuff happens in other stuff having on top of that on top of that and then now we're here But it's time to take out the cabinets now. So I see you guys in there out So as you guys can see we finally got all the cabinets out Yeah, we're gonna have to buy some new cabinets. So tomorrow the plan is to get the plywood done Probably go to lumber liquidators or home decor and look at some flooring That's probably it never know I'm tired. So don't don't mind me. Oh Yeah, we cleaned out all this stuff too So all this stuff gone. We might have to get new countertop. I don't know yet We're gonna try to finesse and use that but it may not happen. We put everything in This garage because now we're gonna have to get a dumpster To put all this stuff in We're all flooring cabinets in here So that's pretty much it today. Hope you guys enjoyed the video again You guys need to come below and let me know I need you guys come below and let me know what colors We should go with what we should do what we should change. I mean just just make me tell me what you would do Again, I see you guys on the next one is real to wrong and I'm gone


So I thought well, this is going to be interesting if I really go for this who knows what will become of me Who knows what will become of my career aspirations or my? Worldly life aspirations. I don't know I'm just going to dive in but I have no idea what will become of me So that's that's more at the beginning of the spectrum when you first start to get Your calling and many of you can relate to that You know exactly what I'm talking about because we've gone through this feeling of like we're We're receiving a calling Not always like a clear-cut calling like Like mother Teresa of Calcutta, you know, she was on a train in India in Roa, India when she got her calling But her calling was really to serve the poorest of the poor and and it was quite clear cut And she went right about it and she stayed with it for decades But some of you are noticing that you're getting a calling But it's not coming with that same clear direction of specificity that mother Teresa had Even Gandhi, you know when he was getting into his calling He could feel it coming but he went over to South Africa and then when he came back from South Africa he basically toured all over India because He felt this calling, but he didn't know exactly what it was So he thought I better go meet the people so he took trains all over India just to really hone in on what is that calling How does this play out for me? Of course the miracles would call it your special function. You have a special function using your Skills and abilities that you developed and an ego framework But then when you give them over to the Holy Spirit the Holy Spirit will use those same abilities and skills that are already there to unwind you from the self-concept and bless the whole universe So whatever those skills are


Going on everyone Sam here with late sports cards ripping one box of 22 top Star Wars chrome black hobby for John L It's good luck John see we got in here for you my friend quite on Jim Captain Tarkin and Ploucoune on the refractor that is 180 out of 190 up nice one there, then we've got our auto Is gonna be admiral Tarkin nice one there that is Stephen Stanton as admiral Tarkin on the encased autograph Nice one there John. Congrats, buddy I'll do it for your break John. Thanks again for the sport appreciate it. We'll get it right out to you, buddy


When we enter into our horse's lives, feeling rushed or tense, maybe fearful or having our mind on a hundred things, yet nothing at all, our horse doesn't understand how to react to it. Horses don't wear wristwatches, they're not rushed, and therefore it's really important that we learn to let go of all of those things so that we can truly connect with our horse and with where they are at in this very moment. I was always passionate about helping horses in a meaningful way, and early on I realized that in order to help my horses, I first had to help my people. I had to help the rider be present and aware and connected. I had to help them slow down, and I had to help them learn how to make observations and through questioning find the answers that worked well for themselves and their horses. There's nothing more beautiful to me than a horse and rider going along together and harming. But the big question is, how do I get my horses and riders, my students, to be able to experience that? Well, I find that a lot of times for students it ends up being a hard long road when it really doesn't have to be. The important pieces of learning to ride and learning how to connect with their horses really come down to a few key things. Through written stretching exercises, I have found that it allows my students to connect with their horses to find harmony and to achieve their goals in a much easier, more straightforward way than other avenues that they've tried. So a little story about how I discovered this. I grew up with juvenile rheumatoid arthritis, and because of that, I visited children's hospital quite regularly and had excellent physical therapists that worked with me. My parents had a horse farm, and I was teaching my students quite regularly how to ride and do written stretching exercises as a teenager. Now, as a teenager, I was teaching younger kids, but as I got older, in my late teens, early 20s, I started having a lot of adult women riders. And I found with them, they came to the rides totally different than the kids that I had been teaching. There were some fear issues, there was stress, their minds were on all sorts of things, but not on the horse. And I noticed drastic differences both in their horses for those that had their own horse, as well as in my lesson horses, depending on the rider and where their mental state was any given day. Our mental state affects our horses. And because of that, it's important for us to have an awareness and to figure out how we can change our mental state so that we can help our horses, we can connect with them, and then we can have the ride that we desire. What I discovered with the students that I've worked with, starting with the children, I learned that they could explore patterns of movement that were not normal on the horse. I was having them not ride in a rigid fixed position. So therefore, because they were doing written stretching exercises, they had a lot of options. And when we have options, we can make corrections and we can make them more effectively. We can do it in a way that is easier for our bodies to find new patterns of movement. And therefore, we can improve our riding position in a ride by doing it. The other piece that I found with the kids, and sometimes kids, they want to steer and tell the horse where to go and they're not maybe so organized. So what I found with them, when they were doing the written stretching exercises, I found that they were actually able to harmonize with the horse and to go with the horse. Once we start being able to go with the horse, we can start feeling their movement. We get better at timing our aids because we can feel where their feet are at. We find harmony, unity and flow and we understand what that feels like. A lot of times when we're just trying to control the movement and control our horse, we're not actually finding that harmony and unity. And then when it does show up for those brief, magical moments, we don't know to release for it. And unfortunately, it leads us down a path of being a rigid, tight rider. It leads us down a path where we think we have to micromanage and control rather than just set our horse up and then allow whatever it is to happen. Now, with my adult riders coming in, being stressed out, their mind on a hundred different things, that's another place where it really does not help our horses out because our horses are very much in the moment. They don't understand having a clock and having a time frame to get something done. And what I needed for those riders was some of them were fearful, stressed out, that sort of thing. What I needed for them to do was to relax, to slow down, to connect, to find being present in the moment and to increase their observational skills and their awareness so that they were able to then go into a successful ride. When we stretch in the warmup of our ride, what we do is we relax, we increase our power of observation, we become more aware of our horses, we become more aware of ourselves, and because of that, it sets the tone for a successful ride. And that's what we want to do, right? Set ourselves up for a successful ride, set our horses up for a successful ride so that we can move forward in our training in a way that feels good to both a horse and to us. So what we're going to do right now is we're going to just go over a few stretching exercises, some simple, easy exercises you can take away from today's video, go play around with on your own, on your horse. If you don't ride, no big deal. You can do these next to your horse. What you're going to find through stretching is it's going to regulate your breathing, it's going to cause you to relax, it's going to cause you to become more aware, more centered, more grounded, all of the things that are required for us to be good horsemen and good horsewomen. So anyway, let's get started. When I get on my horse, or when I'm with my horse, if you work with your horse on the ground, the first thing I kind of like to do is a little bit of a body scan. So I might start at my toes, and I might just feel how do my feet feel in the stirrups. I'm going to use riding as an example because obviously I'm riding right now. And then I'm going to go up the leg and I'm going to feel how does my calf feel? What parts of my calf are touching the horse? Then I'm going to come up even further to my thigh. And I'm going to take note what parts of my thigh are touching my horse. As I do this, I continue to move up my body. I feel my seat, my seat bones. Does one seat bone feel heavier than the other? I feel my rib cage, I feel my back, I feel my shoulders, and then all the way on up to the head and neck. And I'm checking in just to see if there's any tension. I'm checking in to be aware of what parts are making contact because this is going to be useful information for me at the end of my stretching session to see what changes occurred. Through observation and through awareness, we can actually make real change. If we're just going along, meddling along doing stuff, but we're not aware of what's actually happening, we're never going to know how things are working. Another thing I'm always doing in my warm-up initially, just on a long rain, is I'm tuning in to see where my horse is at. I'm watching their ears, watching their eyes. Their head and neck tell me a lot. Is their head and neck low? Are they feeling relaxed? Or do they have a high head? Are they looking around? Are they nervous? Are they distracted? If they're nervous and distracted, I might not be able to do stretching right then and there because I might have to help them relax a little and I might do that through just taking up on the reins, holding their hand a little bit, guiding them softly so that they're able to come around and pay attention and get with me, become present and aware of me and attentive to me so that then we can go on with the stretching. Now, the thing I like to start with in stretching is actually the pelvis. And the reason for that is the pelvis is our connection to the ground, even though we're in the saddle, we're sitting here connected through the legs and feet to the ground from the saddle. It's not our feet.  You can see that hollows my back, pinches my knee and it causes my leg to swing back or I can sit in the middle of my rocker. This is more of a neutral position or I can go to the back of my rockers and I'm going to notice that.  These are all things I need to be aware of so that as I'm working through my stretches I can see if things are making a difference, making a change, and then I can replicate that over and over. So what I'm going to do now is I'm just going to play around and I'm going to look for neutral. Really when I'm riding I'm always thinking about how can I keep my joints, whatever joints I'm talking about in the middle of its range of motion because then it can both open and close and I can follow my horse's movement much more easily and readily.  So here hollow back, neutral back, back pushed out, thigh away from the saddle, neutral back, thigh in contact of the saddle in my middle neutral position and then front of the rocker, hollow back, pinching thigh, leg swinging back. So just think about these things, right? And I'm aware of them. What I want to do when I'm riding and doing my stretching exercises is I want to be in the middle of my range of motion in my pelvis. So I'm going to sit here in the middle of my range of motion and now I'm going to give you an exercise that you can do for your shoulders. I find that a lot of people have some tension, tightness in their shoulders and therefore you can be helpful to let go of this. It also can cause you to start to lift your energy and feel like you're looking up and you're able to focus on where you're going and therefore because you do that you're going to find your horse is going to start to perk up and tune into what you're doing. So what I'll do here is I sit up I'm going to go palm up and I'm just going to bring my hand back over their spine looking back behind me if I'm comfortable enough to do this and then I'm going to take the rain switch hands and then I'm going to do it on the side and what I'm trying to do is I'm trying to feel for any restrictions in movement and I'm trying to feel for where those show up. When I have restrictions in my movement they are going to cause me to use my aids to use my seat my legs my reins in ways that are going to be different on that side because there's a restriction so I can feel that I've got a little tightness on this side so what I might do is I might just sit there a little longer and work through it and I also think about my breathing so I'm going to breathe in and out nice and regularly as I'm doing this I also want to think about my hands remaining fairly parallel to the ground so I don't want to drop my hand on that left side I can feel like my hand drops quite a bit more than on this right side here so now I'll play around with these things at the canter I think about my breathing I think about my horses breathing how do they feel at the canter our horse breathes pretty regularly because of the biomechanics of it and I hear she's getting ready to blow out so that feels good to her I'm aware of my seat feeling this I'm thinking about using my eyes


So, yeah, hello everyone, my name is Thorsten Behrens, I work for CIB, that company there, we're sponsoring this conference together with Gullabora and Canonical. First of all, I'd like to express my infinite gratitude to the organizers. I know a little bit how much work it is. I was involved with the Berlin Liberal Office Conference, so hats off to you guys, to Rathead to open out. Thanks so much for this wonderful conference. Here, with that, I'd like to bore you a little bit with some stuff that CIB is doing for Liberal Office and in other areas. Let me see if I can, yeah, that works even. So, first of all, since not all of you might know CIB, we're a German-based company. Spreads a bit across Europe. Meanwhile, the company is more than 26 years old, so founded in the end of 80s. So, these are some random numbers, probably to highlight, there's the number of Liberal Office seats that we service at various customer sites. Beyond that, company is pretty much self-financing, very proud that we invest about 14% of the revenues into back into research and development. Currently, I think about 167 employees, sometimes it changes on a daily basis. Yeah, so very, very strong historically with banking and insurances and also in the public sector. So, Liberal Office for CIB is not the entire business, it's part of the business. It has ties into lots of the other parts of what the company is doing, but they're very happy and very proud part of the Liberal Office community. And, we'll get to that later in this talk, the investment in the team and what we're doing there, I think is significant. So, yes, you can see that, as I say, we're spread over Europe. We have offices, a few office offices in Germany. We have a near-shoring office in Belarus and Minsk, where really excellent, especially C++ hackers can be found. We have since about two years an office on Gran Canaria in Las Palmas. The idea behind that was growing out of the Euro crisis, actually. So, there was Spain and especially the off mainland areas of Spain had lots of unemployment. And since the owner of the company has also quite a strong social consciousness and he had ties to Las Palmas, he said that it would be great to combine what's good for the local economy and what's good for the business. So, he set up a local office there with, I think, now some 15 employees. So, yeah, that was that. This is pretty much just the same what I was just telling you, just a bit more text for the benefit of the people who will then just later on see the slides. So, yeah, I'm not gonna bore you overly with that. Next slide. So, this was like, who is CIB? And now let's talk a little bit about what is CIB doing. You see there's four large areas. Liberal offices, one of that. The other areas is, well, first of all, what's really at the core of the CIB business or what's the core competencies? And that's really, we see ourselves as a vertical company. So, we try to provide an end-to-end solution for sometimes very, very specialized problems like generating very, very complex template to documents for banks and insurances. Insurances who tend to have very complex legal texts. So, that's actually, that was the founding product for the company. And so, yeah, the mission statement really is you have a problem, a very special problem, and we try to solve that end-to-end for you. Employing whatever tools are necessary either from our own portfolio or when we find something open source or something else on the market but try to really provide an end-to-end solution for very special problems. And I'd love all of you to challenge us on that. As I say, the four big pillars that the company is working on is PDF, both generating and processing. Liberal office, consulting, Liberal office, operation, Liberal office, support and service. Invoices, so the whole digital office story like end-to-end paperless office. No more printing, no more like signing by hand. But it's providing solutions to public sector and banks and insurances to have end-to-end digital document life cycle. That's a very, very big part of the business and also data exchange safely and securely. We're German-based companies so we take data protection very, very seriously. And we're proud to host everything in Germany so that really helps with banks and insurances to comply with regulations. Yeah. So for Liberal office, that means that we, beyond servicing Liberal office and having Liberal office as a product, we also use Liberal office as a building block. So we integrate Liberal office into lots of our products where it fits, we use Liberal office as a customer to solve the problem either by having it running on your desktop or by running it on the server or by running it on your mobile phone, whatever is necessary to solve the problem. We also heavily invested into integrating Liberal office itself like the desktop version for the most into other systems, either by embedding or by providing connectors or by writing extensions or by writing macros to connect it with other parts of your business. Yeah. Well, we're, for example, helping the city of Munich to run their Liberal office instance and also to automate their daily tasks and integrate with the third party software there. Company itself, as I say, comes from document generation. So we also know a lot about interoperability. The challenge has always been in the past and in the present, usually to generate and read documents that would later then be read by Microsoft Office users. So we really know a lot about RTF. We really know a lot about OXML. And the Liberal office part of the team, of course, also knows a lot about ODF and how to make it work with other applications. So we really try to not be there to say, well, everybody should just use Liberal Office because that's usually, that's very desirable. I mean, I'd love this to happen. But on the way to that end goal, you have to interact with other people. You have to interoperate with other people. And that means you need to send documents that should look reasonably well on the other side and then you get it back and it should load and be a reasonably accurate representation of what the sender was intending. So, and I think we do have considerable expertise there and also a vast trove of test documents collected over 26 years, lots of corner cases that we employ with testing NQA to make sure it actually works with the interoperability. So that was the broader company perspective. Now, what are we doing for Liberal Office in particular? As I say, the company's about 100, a bit less than 170 people and some 15 of that staff is in some ways dedicated to Liberal Office work. Here's the names of them. You will find four of us during this conference. I will get to that later. And that ranges from core developers like really hands down C++ to Java integration to macro integration to training and business process analysis. Those are the people here. We are also a very proud supporter of the community in various ways and various means. For example, through sponsoring conferences like this one, HackFest, other meetups, we also sponsor Liberal Office Development by giving time to the core developers that we employ to work on the code base. And we are part of the TDF advisory board and also part of my time that I spent for TDF and for the board and other areas that needs doing things, doing the paperwork in the background, et cetera. Part of that is in company time. So yes, we do support Liberal Office in various ways. A bit more personal. This is the pictures of the core development team that I could fit on one slide. If you look around this room, you'll find Samuel beyond myself. You'll find three more people. This is my wonderful wife, Bubli, sitting over there. This is Armin right next to her and Samuel to the right of Armin. Please do reach out to us. I will try to talk to all of you over the course of the conference, but I have to acknowledge that conference has usually tons of things to do and slides to hack and to run around. So please also if you want to ask me something or if you want to ask the guys from the team something just approach us. We're here to talk with you and if you have a problem or if you have a question, we're here to answer that. Yeah, so just to name the names, this is Katrina, this is Dr. Carlos Luke, this is David Ostrowski, this is from left to right for a straw. This is Vasily Milanchov, this is Armin Weiss, this is Oliver Specht, this is Jürgen Funk. Sorry, Armin Le Grand. It's a very wide picture. Jürgen Funk, Samuel Merbrot, Serge Kott, and yours truly. And yeah, I'm very proud to be part of this wonderful team. Okay, so that was the who's CIB and what is CIB and sorry, who's the team? So now what is the offering that we have the portfolio at CIB? So what we see ourselves as I outlined earlier is we want to be a reliable and all-round service provider. If you want to deploy a liberal office, if you want to run a liberal office, we want to be there and offer you a one-stop solution. So whether you need support, whether you need bug fixing, whether you need LTS or trainings, we will be there for you as a one-stop provider of all those services, either doing that ourselves or by partners. And so this is kind of the ramp up to running liberal office. So we want to start with support and we'll get to that in a second. So if you have a problem, we'd love you to come to us and for us to help you solve that problem in whichever way that can be just pointing you to some online resources or in the extreme making you an offer for a custom bug fix. Also what I said, the entire area of integration, third-party integration, developing bespoke solutions, extensions, even macros if you want to, and individual bug fixing. And once you decide it and once you have a pilot running and if you plan to roll it out, then we'll also be there to provide you with trainings for employees, for your people to be happy running liberal office. And kind of the basis of all of that that's in the bottom right corner is the long-term support offering which is by default is three years support, period that we offer to give you peace of mind when you deploy liberal office that you don't have to update and migrate to the next version every six months. Yes, but again, what we want to be is a full-service provider and to give you peace of mind, to give you planning security, planning safety by, as I say, offering you long-term support, offering you fixed price offerings in various ways, be that for bug fixing, be that for the long-term support. We also have, we also promise severity-based response times, so if you sign up for us, then we promise to get back depending on the severity of the problem in a finite time, usually two days. And of course, with the versions that we released, we have the properly Q8 run through internal test suites that we have so that we can be sure the interoperability side works as well. Okay, beyond that, what else are we doing? So this is not just an empty talk. We do put money where our mouth is, so we support, as I say, we support LibreOffice projects in various ways. We also contribute to standardization, be that for PDF, be that for ODF. We're a member of the Open Source Business Alliance. I'd like to highlight also in the context of interoperability a workshop that I will be leading tomorrow, which is about bringing critical mass together from the public sector and corporate users of LibreOffice to get harder box-fixed. So the idea, and it has worked quite well in the past, it started I think in 2012 for the first round, is to get people in the room that use LibreOffice and let them tell what is their problem and then discover that actually many people have similar problems, but all of them usually don't have that much money. So the trick would then be to say, okay, we agree on this set of problems that we won't fix because it affects all of us and we all put money on the table and then we match that with a service provider to fix this larger problem for all of us. And we'll try to redo that. It is the third round for the OSPA Working Group Office Interoperability and we will meet tomorrow. I'd love to see many of you there. It's in the second track. It starts at 2 o'clock. So if you run LibreOffice in the public sector or in your office, I'd love to see you there. Yeah, DocsNet. That's a German association about document generation, document lifecycle and storing. I also remember. Okay. So, yeah. That's the, as I say, our idea about how to help people migrate to LibreOffice starts with support. So we'd like to help you if there's wonderful, really, really excellent community, help channels, mailing lists, our forum, and we'd love you to go there first. But if you, for example, are a bank or an insurance company or a public office and you cannot share your documents in public, I'd like to highlight this as an opportunity to approach us.  We currently offer that in German, Spanish, and English because that's where our, that's the language that our people speak. But I suppose most of you muster English good enough so that's hopefully universally enough. So, yeah, the page, that's the QR code, that's all on the company, on those rollouts and it's on the program. The URL is here, liberals.septi.esupport. That gets you there. Yes, and as I say, that's our idea of supporting. This is a free offer so we do this legwork for you for free. If there's a bug fix needed, of course, at some stage we would need to give you a quote for that but as they say, the first answer is free. That's a few references to give you an idea about the spectrum the company is working in and who's trusting us with their hard IT problems. I don't want to go over that. Just highlight a few. This is a green piece. This is lots of mostly German banks and insurances from the, from the, so in Germany there's pretty much, most of the banks are either from Kassen or this Volksbank, this Bancoupopoulare comparable to Italy and we're kind of serving both and public, public service City of Munich, I listed them then Vienna, Bundesreichenzentrum and a number of others and of course also industry partners like BMW. Okay, so I think running out of time with that. This is the last slide. I'd like to highlight the talks that my team is having during this conference. So that would be my wife with a total of five talks, which is quite a number. How do you manage? So that's today. That could be very interesting. This whole outreach question, liberal office with a female touch and then workshops and some brainstorming around how to increase diversity. That could be very interesting. Then there's a screenshot, a help screenshot topic that we're very proud to implement for the Document Foundation as a tender. And Gubli and Armin will deal with that a bit and talk about how we implemented that. Tomorrow there's a bit of UI, hacking, introduction, so if you're interested in getting into how to develop the core liberal office UI, that's the talk you should go to. Gubli will tell you how to do that. And finally on Friday, there's going to be a business track in Czech. Well, luckily Gubli is a Czech native speaker, so that fits nicely and she will pretty much explain in more detail what CAB is doing there. So if you check, go there on Friday. Armin has today the screenshot talk together with Gubli and tomorrow since he's... How many years have you been working on that code some 20 by now? Let's make it 20. So forever. So now Armin will... So this is not really code, but this is really the user interface, tips and tricks and all the secret keyboard shortcuts for draw and impress to really make effective use of that application. I very much look forward to that. I was struggling with Impress. Yeah. Third one would be Samuel. Samuel has two talks on Friday. One is about extension development that's around the Eclipse LibreOffice plug-in, how to develop extensions there. It's more like a workshop, more like how-to-hands, and developing Java extensions or Python extensions, that's the top to go. And then together with yours truly on Friday there's another talk about the larger topic of integrating LibreOffice into various applications like embedding it into a rich client application or connecting it to services. Yes, and finally myself. Tomorrow that's another TDF tender that we were happy to implement. This is about document validation during development. So to integrate that with the unit test framework, there was great work done by Markus Mohard and it'd be just built on top of that and streamlined that a little bit and make it a bit easier to use and to have it run all the time. And as I said, the OSBA interop meeting and finally on Friday, this larger embedding topic and... Yeah, sorry, I mixed it up. Tomorrow this is about audio changes. Sorry, Svante, this is with you. It could be interesting. So this tender was the last one that's on Friday. So the Svante and myself will be, that's the GESO project and it's about how to store atomic changes to document in XML, which is quite relevant in terms of the state age when you want to interoperate if you have distributed systems like cloud version, like a desktop version and you want to collaboratively edit the document and how to achieve that and it could be interesting inside into... For the while it's a prototype, it's a demo, but that's a way or there are ways to do that kind of efficiently and with very small atomic changes. So I think I'm almost at the end of my time. I won't bore you further. I thank you very much for your attention. Thank you very much for coming. Again, great thank you to the organizers and I hand over to Michael for the next one.