So you just use the arrows. Hello. Good morning. Welcome for the telecom-way engulfing session. And Tim and I will give a brief overview about the service function chain name and technology analysis. And Tim will give a demonstration about what's been developed and achieved in the agency project in the OpenMV. So let's get started. And I'm being from AT&T, and the team is from Red Hat. So we will talk a little bit from a technology perspective different approaches to implement the SFC, and including the NPSGP-BGP VPN approach and the NSH approach. And followed by that, Tim will give a demonstration. And then we'll give some summary about the different projects that's been worked on in the OpenStack, Open Daylight, and OpenMV, and also some key takeaways from those analysis and implementation. So let's start with some key concepts. So those key concepts apply to both the different prevention approaches, including the classifications and the basic classifications policy-based the function to identify, select, and match the different traffic flows. And with a specific service function, the chain and the requirement. So the classifier is specific for the different service provided policies and customer policies that's needed for constructing the service chains. And another concept is called service function chain, also known as a service chain. And so itself is an audit list of the services functions, and especially those virtualized network functions. And the ordering constraints based on the policy, and that must be applied in order to the different packets and different frames, which are selected, and as a result of the classification function. So basically that's a traffic flow, and go through different functions. And so it's the chain itself. It can be as simple as a linear chain, or as complex as a service graph. And there's a project in the OpenMV that's dealing with the VN of first part of best service function that's led by Kathy here. And the third key concept is called the service function forward, and which based on the different approaches, it could be implemented as a virtual router, the virtual routing and the forwarding function, or the service function forwarder. And which basically the function is to forward the traffic and to one or more connected service functions and to transport the traffic flow to another service function or another virtual routers. And also at the end, it terminates the service function chain and go to the normal traffic flow. So as mentioned, there are two different approaches in order to implement the service function chains. And so one approach is based on level three and using the counter network functions and which based on MPLS and BGP protocols, and which already been deployed in the existing network infrastructure. And so in this approach, and we're using IPVPM, which based on the level three, so it's used as overlay encapsulation method and for routing and for traffic flow over the whole service function chain typologies and all the different VMs and attached to the L3VPM. And there is Comtula that manages the service typology and instantiation of different service functions in the chain and also create the virtual routers and configure the virtual router, the routing table and the egress ingress the VRFs and install the different routes and using BGP to identify those routes and to create the connected, the routing table through those connected VPNs. So it supports the use of existing protocols and deployed infrastructures and existing all the different provider edge devices with current capabilities on today's network. And so BGP is used for the route advertising and the net confyan or XMPP, the existing infrastructure can be used for configuring from the controllers and to the virtual routers and create a configure on the routers, the setup the route targets and install the routes into the service functions. And it supports both the physical and the virtual deployments in the existing infrastructure and it supports multiple control plan protocols and including the L3VPM and the EVPM and the layer three functions in the EVPM and also the multiple data planning and encapsulations for example that supports NPS over GRE or the VXLAM and different encapsulation methods. Here is a simple diagram and describes the chance that's based on the NPS BGP VPN method. So basically I can see that there is the controller and that's been responsible and for creating and building the service function chain topologies including different service functions, number of the instances and there's a whole connectivity on the overlay networks and also it's responsible for creating the virtual routers and for different service functions and in the routing system that the service function connected in the chain and so in each the routing systems it needs to create the route and egress router and also create the interface that connect to the different service functions and initially it needs to install the static route and basically the next hop will be pointed to the interface connected to the service function and the destination, the prefix with the destination, the prefix of the destination address and for the next hop and also you can see for the ingress and egress hop on the next connected, logically connected service function and then it needs to use the same routing targets, right? And the same route target will ensure that when you advertise the routes from the ingress, the VRF to the egress VRF they will get a match and the egress VRF will install the next hop and based on the route advertisement, okay? And so in the route advertisement and you can see that it will give the next route and it will be IP address of the ingress, the VRF and it will also advertise information of the tunneling and capabilities that will be supported in the next hop. For example, it could be MPS of a GRE typically or the VXL and also it will advertise the MPS, the labels which identifies the interface that connected to the service functions. So in this case, when the packets arrive to the ingress and right, it's just decapsulate the packets and based on MPS, the labels it will switch to the service functions. So to improve the performance and make it work in a faster way. And as you can see, and for the controllers that interacts with the virtual routers, right? It will be using the existing functions in the configurations. For example, Net Confian and with those virtual routers or I'm using XMPP for the exact routers or the Net Confian for the edge routers. And of course, BGP will be used for the route advertisement and using the R route reflector and to advertise the routes and between the different virtual routers and of the load balancing and could be used right to balance the different instance of the functions. So that's the L3 approach and based on the existing the network functions and to create the service function chance. And there's new approach and very innovative and that's called NSH, the network service header approach and which basically focus on the virtualized the service function deployment and everything's based on virtualized the deployment on the overlay and the encapsulation is based on NSH that's added to the network service header and tunneling is based on the VXLand GPE and for the L3 and the GRE or the Ethernet. And so VM is attached to the OVS in the L2 and assumes a proper setup is available and they need to be supported. And in the OVS, I think there's a patch in the OVS already been applied to support that and the multiple tunneling protocol can also be applied in addition to the VXLand GPE, et cetera. And they need the classifier and it's called flow-based classifications that's needed for flexible classification criteria. For example, classifier usually is used in GPP the group-based policy as a classifier for that. So that's a similar diagram and you can see from conceptually and architecturally it's similar to the MPS BGPVP approach and of course with the different encapsulation method and with different the way to construct the service function, the chance, the path and also it's based on the L2, mostly it's based on L2 and the different package headers. And so you still have a control plan function, right? And to install and encapsulate those packets in that beginning and then need the classifier and determine the traffic flow and the forward the CETA in between which is similarly to the virtual router but it's a OVS based the router that are L2. And so it also considers some legacy service functions which may not support the NSH service function headers. So it just introduce concept of the SF proxy. And so basically it decapsulates the NSH, the encapsulations, right? And forward the traffic to the legacy service functions and once it's finished and it will re-encapsulate the headers and with the NSH headers and back to the service forward and so on and so forth. And so the traffic will flow the whole chain until it reaches the end of the chain. And as you can see, there are different functions, right? And actions that's been defined in the whole path including the insert, the header, remove the header, select the service function path, decrement service index and update the container header, et cetera. And the different entities in the path will perform different functions. Let's summarize in this table. So that's how the service header is defined. So they have a base, the header and they have service path header and they have the context headers with all the different methods. And one very important feature of this method is the metadata that's been added or in the different service folder and so that you can have the more context-based information to allow for extending to the new services and which is very powerful and in this method. Okay, and so that's the brief summary and now I hand over to Tim and he will give the demonstration about what's been implemented. I got this one, yeah. Thanks, Ben. Good morning, everyone. So my name is Tim Rose. I work for Red Hat and I mainly focus on upstream projects like OPNFV and OpenStack and Open Daylight. If you're not familiar, if you've heard OPNFV but you're not familiar with what it actually is, it's an integration project where we take different NFV features like service function chaining or SDN VPN and different SDN controllers like Open Daylight, Ono's, Contrail and try and integrate that into OpenStack. And so in OPNFV, there's a sub-project called service function chaining project where we wanted to take Open Daylight SFC and be able to integrate that into OpenStack. And so to do that, we kind of came up with this proof of concept demo that we threw together and in order to integrate into OpenStack, we had to have an entry point into OpenStack that could actually create service function chains and talk to Open Daylight. And so we looked around OpenStack and found Tacker and Tacker is a VNF manager project in OpenStack that's Etsy Mano compliant. And we decided that Tacker gave us enough information about describing what a VNF actually is so that we could implement service function chaining to get properties of that VNF that we need to be able to create a service function chain. So a VNF description in Tacker contains attributes like what type of service it is, so if it's a firewall or an app, it can have properties like is this service function NSH aware? What encapsulation type is it using? Like VXLine, GPE, or Ethernet with NSH. And so we decided to go with Tacker and implement the service function chaining plug-in and extension into Tacker to be able to orchestrate this proof of concept. We're obviously using the Open Daylight SDN controller with service function chaining features loaded. For this demo, we're using OVSDV netvert features to drive neutron network creation into OpenFlow down into OVS. And then we're also using a netvert SFC feature which allows us to create a service function chain and classifier. So we need to classify tenant traffic onto that chain. We're doing all of this on the OPNFV Apex installer platform. So in OPNFV, there's a bunch of different installers. We're using Apex installer for this demo. It's a triple O based installer. And then we're using OpenV switch that's custom built with NSH patches from upstream. So currently in OVS, there is no official support for NSH. So we have some patches upstream that we've built a custom OVS version for this demo. And so I mentioned that everything is running on the Apex installer. And in the demo, I'm gonna do a live demo and a little bit to show traffic going through a service function chain. But the deployment, it's triple O based. And if you haven't heard of triple O, it's installing OpenStack on OpenStack. So you're actually, it's a little weird at first, but you're using OpenStack to install your OpenStack. So in this case, they have the concept of an undercloud and an overcloud. And an overcloud is your target system. That's what you're actually interested in installing. So that's gonna have the tacker, open daylight, custom OVS install on it. But you use the undercloud, which is a VM. You can just picture it as the installer VM to install that overcloud. And so for this demo, we're gonna have a single controller node and a single compute node. And so that's just kind of, you'll see it when I run the demo, you'll see that there's the undercloud we'll log into and then we'll go into the overcloud. So just good to have that background. For a tacker, creating service function chains, how do we, what's the workflow and how do we integrate this proof of concept? So these first three items here, creating a VNF descriptor, a VNFD, creating a VNF instance from that VNFD, tacker VNF manager uses heat or Nova backends to actually create that VNF instance. And so those first three things are already in tacker. We didn't add any code to do that. So tacker's already great at managing a VNF. The VNF descriptor itself is a Tosca template. So it's a YAML file that describes what a VNF actually is. I mentioned you can define in there the service type. If it's NSH aware, those types of things. It does a lot more than that. It can do a monitoring policy to make sure that the VNF is still up. It can have auto scaling and auto healing properties. And so those first three items, as I mentioned, are already done by tacker. The following items after that are the pieces that we added. So in tacker right now there's this VNF manager extension and we've added a service function chaining and classifier extension next to that that's able to talk to the VNF manager. And so in addition we've added, you can see step four here is create the chain with CLI. We've added to tacker client CLI to be able to say SFC create or SFC classifier create to create chains or classifiers. So your step four here is you invoke regular tacker client CLI to be able to create the service function chain. Step five is it goes into a REST call down into Open Daylight. So we have in tacker an Open Daylight driver that's able to talk REST to Open Daylight SFC and say create me a chain, create an RSP and an RSP in Open Daylight terms is the rendered service pass. So that's what actually pushes flows down into OVS. And so in the demo, we don't specify a certain SPI or a service path ID. So when we don't do that, Open Daylight automatically gives us one back that's dynamically generated. So you'll be able to see Open Daylight after we create the rendered service path that will give us back that ID. Step six is then we create a classifier using CLI. And so that talks to a different NetVirt SFC driver which then we'll talk to NetVirt SFC and say create this classifier and the classifier is really an access list that says match on this different tenant traffic and put it onto this RSP, this rendered service path. That also pushes the classifier flows into OVS so that our traffic can actually match on that and get punted up to the service function chain. And so this is just kind of an architectural overview of what we just talked about. The numbers there correspond to those different pieces of the workflow on the previous slide. But you can see up at the top, there's tacker on the left-hand side. It has its VNF manager extension on the right-hand side as a service function chaining, classifier extension and plug-in. It's using its own database. It has its own drivers to talk to SFC and NetVirt SFC. So step one here is you come up with these VNFD template, YAML files, these Tosca inputs to define what a VNF is. You import that into tacker, tacker puts it into a catalog and you say create a VNF of this description of this profile. And so then that makes a call to a heat driver. Heat then calls Nova and places that VNF onto the compute node. We have one compute node and one control node in this situation.  So we're gonna have one VNF that's a virtual firewall and we have an HTTP client and HTTP server. So we're gonna use the HTTP client to send Crow requests to the HTTP server and see if traffic actually goes through the chain or not. And then on the other side of that, you have the SFC driver talking to ODL SFC to create the chain and then the NetVirt SFC driver talking to NetVirt SFC to create the classifier. And so now we'll go and try to do the live demo here. And so, let's see. So I'm running this all on a single host server. And so we've talked about the undercloud and the overcloud. In this instance, I hope you guys can see that in the back, the Instac machine there is actually our undercloud VM. So that undercloud VM has installed these other two bare metal BRF VM machines. So one of those is our controller, one of those is our compute. So if we log into the undercloud, switch to the stack user and source his credentials, you can actually see this is from the undercloud's perspective, right? So the undercloud has installed this controller and this compute node. And so by that token, I can SSH into those, into these control and compute nodes. I've already done that down here. So I'll get rid of this guy. And if we go and we look at our controller, I can do NovaList here. And you can see there's an HTTP client, HTTP server, now we're on the overcloud. We were on the undercloud, now we're on the overcloud. This is our client, our server and our attacker VM. So that long, weird UID down there is attacker VM. And so if we go over here, this tab right here is my compute node and I can dump out all the flows on VRN. So Open Daylight has, with OBSDB network, has installed the regular tenant flows to be able to allow the client and the server to talk to each other. But if we grab on NSH, you'll see there's no NSH flows here at all. So there's no service function chain set up. And I can also go into the controller and I can do attacker SFC list. And you get nothing because there's no service function chain created. But if I do attacker VNF list, you can see that there's a test VNF one there which is our virtual firewall, right? And so for the purpose of the demo, it's not really a firewall. It's a VM that's running a Python script which will take an NSH packet, decrement the header appropriately and send it back out. So we'll be able to see that because if you look up here, I have the NoVNC console set up. I might have to re-log it back in. So on this left-hand side, this NoVNC console is actually just a simple Python HTTP server.  So I'm just running an HTTP server there on port 80, right? And then on this other window, this is actually our VNF. So remember that weird UID for the instance. This is actually our console to our VNF. And so it's important to see here. I don't know if you can see it or not, but this packet 673 up here. So that was the last packet from when I was trial running the demo that the VNF received, right? So if a packet comes to that VNF, we're going to see it pop up here. And so now if I go over to my HTTP client and I curl for that server address, you can see there's nothing hitting the VNF. If we look at the HTTP server itself, you can see that it's actually getting hit. It's getting a response back. And so we have no service function chain right now. And so what we can do is we can go on the class, on the controller and do attack or SFC create, create, name, my chain, chain, test, VNF one. And now you'll see that down here there's some outputs as pending create. You can see the instance ID there is path, my chain, path 394. So I had mentioned that we didn't specify a specific SPI or service path identifier. So Open Daylight generated one and gave it back to us. So that's our instance ID we're getting back from Open Daylight. So if I do attack or SFC list here, you can see that the status is active. The driver is Open Daylight. And there's another attribute here, symmetrical false. So symmetrical is, you can set that to true if you want to. What that will do is when you make that pro request of that HTTP server and it goes through your chain, the return traffic, if you define the chain as symmetrical or return traffic will flow back in the reverse order through that chain. If you don't, it'll flow back just like normal tenant traffic. And so now if we go over to our compute node and we don't close again and grip for NSH, you can see there's NSH flows here now. So we've created the chain in OVS, essentially by talking to Open Daylight with tacker. And so now if we go and we curl again, you'll see the curls are coming back. There's nothing going through the VNF because we don't have a classifier yet. So this command's a little long, so I'm just gonna use one from history. Yeah, so in this classifier create command, you see we're making name my class onto my chain, which is the chain we just created. We're matching on source port 2005 and desport 80 and protocol TCP. So that should be enough to classify the traffic from our HTTP client and force it to go through the service function chain. So I'll go ahead and create that. So I can see it says pending create. Here's the match criteria up here, which is what we just talked about. And then the infradriver here is netvert SFC. And so if I go and look at OVS now, I can grip on the TP desk. So looking for port 80 there and you can see there's a classifier flow here now for port 80. So you can see there's no packets that have hit it. It's the first action here is to move the tunnel ID into the NSH context header. And so that allows us to preserve the tenant traffic after it gets through the chain. So when tenant traffic goes, if you picture you have a bunch of different tenants with different traffic being classified onto a chain, how do you know when you get to the end of that chain where that traffic should go? So we store the tunnel ID, which gives us the tenant network information so that once we egress out of the chain, we know where to put that packet back onto its tenant network. And so now if we go back to our HTTP client, now that we have that and we curl again, you can see over here packets are hitting this VNF. So I don't know if you guys can see it in the back, but it's incrementing the packet there. You can see that it says NSH base NSP 394, which if you remember was the exact same ID that OpenDale, I gave us back for the service path identifier in when we did the tacker show command. And so you can see here the NSI, which is the service index is 255. And so what the service function will do is it'll decrement that SI and send the packet back out. And so you can see here we got the curl request back. Sometimes this can be a little slow because we're running nested vert with QEMU and this Python script is not particularly fast, but it worked. And if we go and look at the compute node, we can see that if we grep on TP-desk 80, we can see there's 19 packets there that hit that rule. And if we grep on NSH, you can see that there's also 19 packets there that hit the NSH flows. So our service function chain worked, right? And so that's just kind of a proof-of-concept demo to show how we can do service function chaining with OpenStack using IETF, SFC, and SNH. So if we go back to the slides now, the next question is after doing a POC demo like this, how do we get this upstream? So we talked to the tacker folks and the neutron folks and we tried to figure out how can we get some of this work upstream into the respective projects. And so neutron already has a networking SFC extension and a project and that networking SFC project is supposed to solve this problem, right? To be able to do service function chaining. They don't do NSH right now because it's not officially supported in OVS but they're moving in that direction. So we felt like if making this a proper solution that the service function chaining piece and classification piece should actually be handled in neutron by networking SFC. So we wouldn't be making calls from tacker directly to Open Daylight. We'd be going through neutron in a proper flow down into networking ODL and talking to neutron northbound in Open Daylight. And so then that left us with, well what value then does tacker bring, right? Because for service function chaining you have to know properties about the VNF. And so in the Etsy Mano doc, I mentioned that tacker was Etsy Mano compliant. They have the conception of VNF management and then network service orchestration and management.   And there's also a TOSCA definition and YAML format to do this exact same thing. So we felt like it's much more proper and correct to be able to create a VNF FG descriptor. So these first three items here are the exact same. We created a descriptor using a YAML template that's already specified in TOSCA. We then have a VNF FG plugin and extension. The process is that input. So when you instantiate a VNF FG, it figures out what service function chains to create by making calls down into Neutron to say create these different service function chains and these different classifiers. And that allows you to do some different things. It allows the VNF FG to figure out common service function chains or common paths through the graph to be able to optimize service function chain creation. So for this first iteration in Newton, we won't have anything like that, but it's just down the road there can be chain optimization there. It can choose, you can have algorithms to choose what VNFs to use in your forwarding graph. So you could say, is this VNF overwhelmed? Does it have too much stress on it? I should use this other one instead. Or should I choose a VNF based on how many nodes it can scale? So how many instances can it load balance across? So that's kind of the value that putting the VNF FG there into tac or makes it Etsy compliant and then it has a proper flow into Neutron. So this is that same diagram, is that, well it's not the same diagram it's modified, but it's the exact same workflow we just talked about as we showed previously with the demo. So you have here the first steps are the same, you have the VNF FG descriptor, which is a YAML template, you feed that into the VNF FG stores as a catalog, you then say create a VNF FG, that makes a call into Neutron, a networkance of C driver to say create a chain, networkance of C then has drivers to talk to Open Daylight. And so that's what we're planning to do for Newton with Tacker and Neutron and the networkance of SFC project. And so with that, I'll turn it back over to Ben to talk about summary between MPLS, BGPVPN and NSH and go over some of the projects. Thank you team, thanks. That's a great demo and hopefully we enjoyed it. And so in the last few minutes, I just give a little bit summary and about the different approaches. And so that's a summary table about the BGPVPN approach and NSH approach. And as you can see that they have some similarity and some differences, right? And for example, the classifier is required in the NSH approach, but not required for the BGPVPN, it's destination based to the chain. And one is for the L2, the other one is for L3 and one is for the virtual deployment, the other one is for both the physical and the virtual deployment. So that's a kind of a very brief summary about the approaches. And as the team and introducing the demo and lots of different projects have been involved in implementing the SFC as well as there are some other projects that will be beneficial and will be or could be benefit and to create the service function in the different type of implementations. And for example, here on the open stack, there are different projects including the Neutral MPS VPN as a service project which basically provides APIs to create and delete listing the different VPN services and the VPN access the services. And there is another project called the Neutral MPS service function chaining and which the team also just mentioned and will be used for the next step, right? And that upstream in which basically defines the two different concepts, right? Part chain concept, which is all released of the chain itself and also the flow classifier which basically the classification for functions and also provides different APIs into create chain. And also there is the MPS VPN extensions for the BGP VPN extension for Neutral Networking and which basically provides functions to create the BGP VPN and those APIs and also the TAG project for the orchestration and bring up the VMFs. And also in the open daylight and group as policy can be served as a classifier and service function chaining projects that's been the backend implementations of the service function itself. And the VPN services also provides APIs to create different types of VPNs including the L3 VPN and L2 VPN. And obviously the network projects as the team just mentioned and will be used to implement those the virtual functions and also can be used as a classifier and in the setup of the service function chaining and in the demo. And in the OPMV and basically will primarily focus integration and so we have the service VMF folding graph and provides the graph description and requirement so that it can be implemented in the OpenStack project and we have a service function chaining project which basically integrates the backend components from the ODL and from the API from OpenStack and also SDM VPN projects also do the similar role but focus on the L3 VPN part. So after we see those the different projects and different technologies and what are key takeaways here and from the operator perspective from the telco perspective right in the we see we're very glad to see that there are different diversified implementations in this space and provides all the different options and which are open for the innovations and for the new services functions in this area and but not fragmentation and diversity means that it's interoperable, compatible and not silo. And from any user perspective and we are more interested in first common APIs that can leverage different the backend implementations whatever approach it is right you need a common API common the data model and a method that I can support inter-demand or end to NSFC use cases across different heterogeneous networks and which means across the access network call network, backband and the back call network that we can have this type of the end to NSFC function chain I think that's China Mobile also asked this question in the last presentations. So that's a common goal and we wanted to see all the different types of solutions to solve that. And we also wanted to see the deployment model that can leverage existing network capabilities right and to minimize the total cost of ownership as very important and because we don't want to make the existing the investment in the network today and to be the out of date because we have to serve our own and users give the users an enhanced user experience and without giving interrupting their services. Okay, so that's all for the presentation today and thank you for your attention and questions. Tim, come. Questions? Yes. Hi, thank you for the presentation. I'll start with my first observation then the question. The service function chaining is mainly defining the involvement of the VNF in order for a particular traffic, right? It could be multiple VNFs, it could be one or two VNFs which will work one after another for the particular traffic coming in. So in that sense, it's a path, yes. You're creating a path by inventing a new header and new encapsulation. That's why you need to modify the OVSTB. That's why you depend on the existing underlay, under overlay network. So this solution will not gonna work without an overlay network because there's this new header right there. None of the top of the rack, the spine, all those switches we're gonna see what this is and we're not gonna wear what to do with it. That's why the overlays must have. And in reality, how many service function chaining paths that we will be using in the field that we need a new header is another question. So why, it's kind of for me, don't get me wrong, it's kind of, we are hunting a turkey with an RPG. So why not using another approach to reuse the existing headers to create a path such as in Neutron we assign VLAN ID ranges for tenants and some of them are kind of idle mode. You can easily use those, create a on the fly VLAN tunnel for those on the fly service paths. Thank you. You wanna take it or you want me to take it? Okay. So if you think about a path, like you were saying, a service function chain can just be, you can talk about it as it's a path of VNFs, right? If you have this path of VNFs, the beauty of NSH is it preserves integrity from those VNFs through those VNFs. So if you know that a packet comes into your third or fourth VNF in your path, you know exactly where it came from. You know that it's been hit onto the other parts of that path because you use the service index to be able to decrement and know where you are in the chain. You also know based on the path ID which path you're on, so you can preserve, you have more metadata information about the chain than you would if you just sent a packet to each VNF and just set up manual flows to make it go in and out. In addition to that, it helps you distinguish chain traffic from tenant traffic. So if you have like in the current networking and sustainability implementation, they're not using NSH, but if you have multiple VNFs on the same OVS node along the side with tenants and traffic comes into OVS, how do you know that that traffic coming out of that VNF belongs to what service function chain? You have to reclassify it every point. So with NSH, you classify once and send it through the chain. To your point of VNFs that are not NSH aware, so that means everyone has to come up with an NSH aware protocol or whatever for their VNF that they have to add that to their product. So in NSH, that's the concept of having an NSH proxy. So that you don't have to have, you have an OVS, it can be an OVS, it's an NSH proxy. So he reads off the NSH header and strips it off and then he sends the package of the VNF behind it so that the VNF is able to function as it normally would and the proxy in front of it is able to do the NSH work so that your VNF doesn't have to have NSH awareness. That's kind of the solution why NSH, I guess. And I think in addition to that and we can also use the BGVPM-based approach in creating the routing table and the connected L3 VPNs for the different path and along the chain. So it's different about that diversified the solutions that you can use. So forgive my ignorance, just a couple of quick questions. You know, one of the things that I'm curious about is how SFC chains might be load balanced between different applications. I'd like to hear you talk about that just real briefly. And the second situation is when I have the potential for per user SFC chains, can you talk about that a little bit? So I have an application where I have users sitting on a VPN and they wanna be dropped off into a OPNFV network and then each user is treated differently with their own service function chain. So can you just talk about those two possibilities a little bit? Sure, let me take it. So the load balancer part is a problem that we're gonna solve later down the road, but how you can do load balancing is as I mentioned, you can ask those two different ways. So you can ask for the VNFFG extension can ask VNF manager to give me a VNF that's scalable. So you know that it can auto scale to a certain amount depending on load. You can monitor those VNFs that are part of that chain. So maybe you create a chain that's part of many paths. So you have many paths to this graph and maybe the first couple hops are always the same for every path. So you create one common service function chain and maybe you're worried about those VNFs not being able to scale due to heavy traffic load from certain paths through the graph. So in that respect, the VNF manager already has monitoring systems installed to be able to monitor the usage and to be able to scale out VNFs as part of that chain. And so that's kind of my thinking along the lines of being able to load balance the chain. The second part was being able, this is your second question I think was being able to do different service function paths based on tenant information. And so in open daylight, you can match on tenant ID, you can match on the tenant network, different things like that. So you could do that in classification, but once the packet gets into the chain onto its path, it follows the path until it egresses. There's the concept of being able to do more graph choice so that you reclassify inside of a service function. So maybe a service function figures out, oh, this packet is from this tenant, I need to reclassify it to go through a different path. And that's something that NSH also provides for, but it's something that we haven't thought about solving yet in this initial implementation. And also in the BGVP approach, and when you do the load balancers, right, and you can install the load balancer in the egress ERF and so that it can be, and the traffic can be scheduled to the different type of the next hop of the SFs. Or you can have the different instances and that's connected to the single, the ingress VRF and the ingress VRF can install the load balancer and the two balancers load to different instances of the service functions. So that's how it's being solved in the BGVP and based on the service function chains. Okay, Mr. Jenner. Hi, good morning, thank you. I have a couple questions, or really just one major question. What is the strategy for in the NSH approach to deal with path MTU discovery for the applications? Like what, who, is it something that's kind of reset? You know, is the NSH header like expandable in size? How does that affect the, you know, the path MTU that the end applications experience? And if it's path MTU discovery, who's gonna, what component of the NFV infrastructure would kind of be responsible for that? Or is it everyone kind of for themselves? At this point, it's kind of everyone for themselves. So we have, you have the NSH header and then you're gonna have some type of encapsulation header because NSH isn't a transport header. You need something on top of it to transport the packet and the overlay, right? So you're gonna have additional header bytes there. And so modifying the MTU based on that, that's not something that I've thought about at least for now, so I'm not sure. Okay, it's, I mean, it's a very common problem in like a non-virtual environment of MPLS, backbone, WAN, just, you know, and especially if the VNF itself might be a third party, like we don't really, like the NFVI owner doesn't really own that, it's a partner providing that processing, like how do you enforce them to do something? You know, what are your, who's customer is it? So I don't know, I just see that sounds very challenging. Yeah. You know, basically. So thank you very much. Yeah, thanks. Cool demo, by the way. Thank you for that. Oh, thanks. So, I mean, the concept of an SFC controller, so basically your CLI when you instantiate at that graph, is there anywhere in OPNFV or NFV manual where they're gonna standardize kind of where that function is? Is it gonna be part of Orchestrator or is it gonna be BSS? Do you have any thoughts about that? It's not gonna be, so in OPNFV, there's many different solutions, right? We're not gonna standardize one way to do service function chaining and you saw the other approach here, alternatively to NSH. For, and so in OPNFV, you can do pretty much what you want, the types of solutions you wanna do. So if you wanna try out this service function chaining, POC that we did, you can go download the Apex installer and run it on your Sena 7 machine. But there's no standardization for it. In an open stack, we're hoping to be able to do this VNFG Etsy Mano orchestration into Tacker. And then as I mentioned, Neutron will handle the networking as of C part, the service function chaining create part and that could have different backend drivers so it could use OBS or ODL or another SDN controller. Does that answer your question or? Well, I was looking more northbound to like. Oh, to the OSS? Yeah. I mean, that instantiation of a subscriber clicks on a portal somewhere, says I wanna firewall in my chain now. And does that function standardize anywhere? It's gonna be probably some custom software at some point. Yeah, that's not gonna be standardized, I don't think. So they would have to integrate into Tacker's REST API to be able to do that. Thanks. And for now, I think it's open V and currently it's focused on infrastructure part, but we are expanding the scope to cover the Mano and it's all the different projects if we see the need from the market. And I'm sure that there will be some projects being proposed to solve this problem in this area. Yeah. Thank you. Any more questions? Okay, all right. Thank you. Thank you.


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Create new agreements based on respect and love. Take the responsibility to make new agreements with those you love. If an agreement doesn't work, change the agreement and create a new one. Use your imagination to explore all the possibilities. Make it a wise. Let's take a look at it out here. We have the Dow Industries down 75. Nasdaq's off 124. S&Ps off 18. Gold contract trading down $11.90 at 17.33 an ounce. We got Silver down 32 cents, $18.29 an ounce. Light sweet crude up a buck, $98.96.63 a barrel. Notes and bonds, a 10-year note. Down seven ticks trading at a price point of $1.1921, and a 30-year off 20 at $1.41 and $1.14 in KingDollar. KingDollar's down 250 ticks trading $106.480. The euro is out here at a price point of $102. The yen is at $136 and the British pound is at $120 to one US dollar. iPhone numbers 877, 9276648. Give us a call, folks. One note's going on in your world. Let's go to the world of our man, Mr. Dave Mazda. Dave is the head of product and a managing director at Direction and as you come over to our website at TFNN, all you have to do is hit that Direction button, get over there and you can see the lineup of ETFs, leveraged and single equities that you can trade each and every day. Dave Mazda, what's going on? Hey, happy to be back. What's happening? It's great seeing you, man. And you know what I'd like to talk about today? So this is pretty, you know, it seems that the leveraged business in general and the ETF is accelerating quite a bit, Dave. And so what I'd love you to do is talk a little bit about, and I talk a lot about this, but this is what has happened in the past two weeks, which is pretty wild. You know, folks, what has happened is that you got, you got plenty of folks like me that have been in the market a long time, but we have a whole new crew that's coming up and what's happened, Dave, this is really intriguing, man. You know, the last oil run, right? Well, it seems like a lot of, you know, I'll listen to this, okay, they really did well with the gush, right? Now, what happened, which is really intriguing though, is that I've been getting some calls and you know, like anything else, when you start something new and you make a lot of money and then it was one of those deals that a couple of calls really didn't understand that we reset every day. That's the bottom line. And I really realized, this is okay, this is, you know, this is almost like we first started. You know what I'm saying? That everyone gets acclimated to it, but there's so many new traders, because these traders that were actually caught on were only like 24, 25 years old. So I was explaining to them, but can we go through that a little, because I think this, I know it, because I'm getting, I got it, when I get three or four calls in 10 days like that, do you know what I'm saying? It's like, okay, you did really well, no doubt, do you know what I mean? But you know, they got to understand that each one of these doubles and triples reset every day, and what, because what happened is that one of them calls it, oh, this is a no-braining, you're just gonna buy this because it's gonna go high as a no-no. If you get a sideways market, the bottom line, you really want to understand how these work. So can you just go through that a little for them? Yeah, you're absolutely right. So I think it's worth taking a step back because we have seen, to your point, a huge increase of new traders entering the space, trading, and looking at leverage and inverse ETFs. And I can tell you, the reason for that is in times of market volatility, folks are looking for opportunities and leverage and inverse ETFs can do that for you. However, that opportunity can come with some, I'd say, personal responsibility, and that is to understand how the products work. And I know as you emphasize when you're getting these callings, these are daily vehicles. And what I mean by that is that every day, we are delevering or re-levering the fund to meet that exposure. And so, for example, these cannot be used over the long term. Now, there's always a case someone has helped something and they were right and crudos to them, but there's also examples of folks who bought the bear fund and not the bull fund and they lost the gift amount of capital. So, the way I think about this is if you don't have the ability or interest to monitor your position in a leverage and inverse ETF daily, these aren't for you. Now, if you do, you can make that buy, sell, or hold decision daily, right? Maybe you did buy it and your thesis still works, keep the position. But maybe you bought it and something has changed or it better yet, particularly with the way folks trade, a lot of folks trade leverage and inverse ETFs on the technicals, then you might have to sell it, right? So, the reason that's the case is because, again, the return that two times or three times return is only on a given day. So if you look, particularly in periods of market volatility, when we are buying and selling, you're getting negative compounding. It's not, you know, if you look back to a year where you have pretty low volatility in the markets, interesting enough, two times or three times leverage fund might actually outperform its theoretical return because it was just trending. This market is not a trending market, right? So you should be, you have to make those decisions on a daily basis if you're gonna be involved in these products. I appreciate it because it seemed that the few that they were talking, they all hit the oil market. So it was one of those deals, you know what I mean? Like, hey, this is pretty cool, right? It was a one-way trip on the way down and now it's bouncing back and forth and I was explaining to them that, okay, but that's not the same because if you're in a consolidation, you gotta remember, just as you said, it resets everyday folks, okay? And there's a lot of different things you can do with them. You can trade them just to make money. You can have, you know, like a couple of the calls, they had Exxon, they had Chevron on once, they just wanted to cover it and get Delta neutral, okay? Which is easy, not, yeah, it's pretty easy in that sector because Exxon Mobile and Chevron folks like 46% of one of those, you know, in the XLE, basically, so yeah, really cool, man.  It's like, okay, just put it on the morning and take it off in the afternoon, man, do you know? Correct, yeah, and that's a great way to think about using these products. Yeah, well listen, thank you so much, appreciate the education, I look forward to speaking to you two weeks from today, Dave. Thank you, we'll talk soon. Awesome, thanks, man. Bye. Stay right there, folks, we'll come right back. With booming inflation, we are purchasing powers eroded, there's no better place to protect your hard-earned money than in gold. This, the gold's flagship asset is the Monk Todd Gold Project in the Northern Territory of Australia. This is Australia's largest undeveloped gold project. We are talking a world-class gold project in the T1 mining district. This is a large scale, low-cost project with significant existing infrastructure in a politically safe and friendly mining jurisdiction. This, the gold just completed the Monk Todd Feasibility Study, which resulted in a seven million ounce gold reserve in a 16-year mine life. All of this combined with the approvals of all major operational, as well as environmental permits. This distinguishes Monk Todd as an attractive, devious party, ready development stage gold project. 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Dow Industries right now, down 60, we hit the Mazik of 122, S&P's are off 16 and a half. Let's get over to our mammoths to Steve Rhodes as we do each and every Monday at 20 past the hour. And don't forget folks, we see that as an outstanding show here. Every trading day, one to two Eastern standard time, also has a great newsletter, a mastering probability. Now, it's very easy to get Steve's newsletter. Come over to our website at TFNN, you're gonna hit newsletters, you'll see on the right-hand side top and the bottom line is that you can get Steve's newsletter for one month for $149. You can get it for six months for $695, which is the savings of $199 at 26%. And you can get it for one year for $1195, which is the savings of $593.33%. Now folks, they all come with a 30-day money-back guarantee and they come with a huge amount of information. And the bottom line, Steve did a little, well, not a little, a nice article over the weekend. That is phenomenal, no doubt about that. Let's go see what he's talking about. Steve Rhodes, what's going on? Well, summer is certainly ripping by. It is. I just looked at my calendar and I realized that the kids down here in Florida go back to school in two weeks. I know, man, that's crazy, right? Yeah. But I'm digging it because October's coming and so for us folks, October is the break. September is the worst month. That's true, it's been pretty hot here in July, although it's not too bad on the beach. You get the breeze and it kind of cools you down. But you're right, I did, by the way, I did send out all the TFNN subscribers. Should receive a link for this report. Just kind of go through it today. That'd be great, because it's a great report, man. Oh, thank you, thank you, Tom, I appreciate that. And Friday was really a big day and it was a big day because we actually got two different kind of signals. We got a short-term topping signal and we got an intermediate term long signal out there. So let me explain what we've got. This, the short-term bear signals came from the NDX100, the Russell 2000, as well as the Semiconductor Index. And each of them, and I show this here on these charts here, so I show those three. And what I'm doing to show each of these three is I'm using the ETF. So that way everybody at home can do the same thing. They can follow along. So on the left-hand side, we've got the Qs and we can see the A to B equals CD pattern. Now, the Qs got above the one to one A to B equals CD. For me, the way that I like to confirm these patterns, in other words, that they be their top or bottom, here we take a look at tops, are when we get a bearish reversal candle. And that's what we got inside the Qs on Friday, which was on a daily base, which was a bear sash candle. Now here, this shows, what I do realize is that since I've actually posted these charts, I've gotten some new profile levels inside of the Qs, but we're not gonna go there right now. If we take a look at the Russell 2000, the IWM, it made the one to one. In fact, it got just slightly above that on both Thursday and Friday, but Friday was a bearish engulfing candle. And so that's a just a retracement. And then we've got the SMHs on the right-hand side. Now that made the one to 1.618 A to B equals CD pattern. Tell my carry call, and maybe I've misstated this a few times, but in your book, The Art of Timing the Trade is that the one to 1.618 are the one to two A to B equals CD. It's the one to 1.618. And what happens when you normally get that, that's a change of trend. And when you normally get that, sometimes it wax to two, but if it goes to two, it stays there a day and then you're off to the races no matter which way it goes. That's what it seems, you know, it's very unusual at one to two, yeah. Perfect, because here's a perfect example of what you wrote in your book after all those years of study. And here we can take a look at a daily timeframe chart for the semiconductor index, and it made the one to 1.618 A to B equals CD price projection area, which was in the 231 range. And then we got that bear sash candle. Now, the semiconductor index could take a big move to the downside. And what I mean by that is that there's a bearish structured profile that is formed. And they close today below 225.59, which suggests that price could pull all the way back to support. And this is just one support level that we're looking at, which is the bottom of this new profile, which is at 205.94. Now, I won't be able to confirm this profile until tomorrow, because I'm using an advanced tool here that identifies these profiles as they're beginning to form. So if people turn into the radio show tomorrow, we'll go ahead and confirm the semiconductor. So we got three that formed from a daily standpoint, what I'll call the short-term timeframe, topping signals. The end view also generated that A to B equals CD pattern. And in this case here, oftentimes referred to it as a Gertley cell pattern. Now, it also has new profiles that are attempting to form. And again, I'll confirm these tomorrow during the radio show. But right now the top of that profile is 12.579. The bottom is sitting at 12.104. What I think is that price will pull back to that 12.104 level. And if that holds, that's the next by the dip point in this move as we continue to move higher out here, whereas the markets continue to move higher. If we take a look at the end, and when I say that folks is because now we'll get to the intermediate term signal. And this intermediate term signal came from the Dow, so the weekly chart for the Dow. And what it did was this little green squiggly, green red squiggly line is what's referred to as an oscillator and change line. And what I want folks to take a look at is throughout 2022, price has been below this level. It's been tested intra-week several times, but each time it fails and it closes back below that and shows how that has been a key level of resistance. Well, on Friday, we got to close above that level. That level folks is 31,630. Now, if we get a second consecutive close this week above that level, that's going to confirm that pattern or confirm a change in trend pattern. A little similar to Tom's, one to 1.618A to B equals CD. So because we haven't closed above this in 2022, it's sending us a signal that there's a change in trend that is attempting to form. I like to use two consecutive bars, Tom, either above resistance or below support to give us that confirmation. So folks should watch the 31,630 area within a few dollars, up or down. This is the weekly chart for the Dow and it shows that we have consecutive, this weekly chart shows us that the bounces that we've had, the counter trend rallies that we've had in the market have lasted for two consecutive bars. What I mean by that is where one bar closes above the prior close. So here we take a look at, and I believe that this week or last week was week number one. We should see a higher close come the end of the week. And bear market rallies tend to complete in two to three bars. And that's really important to understand. Here during the 2007, 2009 bear market folks, you'll see where these black arrows, you'll see all of these two or three bar rallies out there. If we take a look at, and last week closed above the OUL signaling, likely that there's something more. If I go back here, well, let's just, let's continue moving on. During the 2000 bear market, we can take a look at one, two, three, four, five different examples of two bar rallies out there for instances of that. So it's common to see a two or three bar rally. And it tends to work better, Tom, for the weekly and the monthly timeframe. Here's the 1921, 1929 bear market out here. And we can see these two bar rallies. There was one four bar rally, but probably still stayed below that oscillator and changed like 1973, same kind of thing. So folks, open up that report, you'll see this out there. This chart here, Tom and I provided to everybody, this chart looks at the Dow price in major currencies. Now you and I, we think of this as the Dow price in dollars. But if you're over in Europe and you're trading in euros, you're thinking about how is the Dow performing your currency? Or if you're in Japan, how is the Dow performing in the end? Or if you're in England, how is the Dow performing in pounds? If you take a look at these charts out here, the Dow performing those major currencies doesn't look like it's really in a bear market. I mean, it's almost near their all-time highs, which took place in January of 2022. Actually in the end, the price in the end was April of 2022 out there. And this is the global flow of capital. And here what we can see, if you take a look at the top chart of the very bottom chart is the euro is below the 2017 areas. And this shows and the reason why we could see this rally that lasts for two to three months. And that's what I'm referring to folks, not just a two to three week rally, but I think that change in trend is signaling to us, we could see something last for two to three months out there. So open up the link to that report, you'll have all these charts here. And if you have any questions, folks can email me. And folks, you wanna read that report. And if you don't have it in your email, go in your spam because it's an awesome report, man. And then come over to our website at TFNN, you go into the newsletters, you hit the market probability. That's your probability. Thank you, man. You got it. And you are off to the races. Have a great one. See you next time. Thanks, man. Bye-bye. This sector now is the time to subscribe to my Gold Report. 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Using this first-of-its-kind program, The Art of Timing the Trade Charts allows you to scan thousands of stocks for Fibonacci formation setups, including guardleafs, ABCs, butterflies, and much more. The Art of Timing the Trade Charts is designed to help you when scouring the markets for stocks just beginning to form the trading patterns that many investors spend days, weeks, or even months searching to find. And right now we're offering licenses available at only $79 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.com. Welcome back, folks of Dow. Dow industry is right now down 32. The NASDAQ's off 112, SAPs are off 13. So if you have got anything at TFNN, well, even if you're on YouTube, folks, bottom line is that we sent that report out. Steve sent that report out over the weekend, okay? So if you didn't get any email, go to your spam box. It's an amazing report. I mean, it's really a cool report. And of course, if you wanna check out Steve's newsletter, Mastering Probability is very easy to do. There's a link right on that report. They can just come over to TFNN, you hit Newsletters, and on the right-hand side, you're gonna see Mastering Probability, but it's pretty cool, man. I mean, there's a lot of backup with it. Like anything else, we'll see how this baby shakes out, but there's a lot to it. Market wise out here, the bottom line is that we are pulling back with light volume. Let me just see this for a second. I wanna see, okay, so let's Microsoft. Let's go through some of these equities that are coming out with numbers tomorrow. So we got Microsoft, that's gonna be, let's see, more than likely that's after the close. Okay, aftermarket. Microsoft is trading $257. They're gonna be looking to take in 52.4 billion to the top line, $2.29 to the bottom line. Let's see what we're looking at here. Okay, so Microsoft's still been in this consolidation. They put this on a weekly. You're down from 349, so you're off 33%, came back to strength that goes all the way back to April of 2021. Yeah, I could, okay, so I can see this one here. Going after this, there is a high volume low that's laying here. Rejected at the last time, but that's still open. Yeah, it's still open. Okay, so that's $248. That's one that looks like to me that wants to go lower. Okay, so let's go to Google next. Google's coming out also tomorrow after the close. Google is going to be looking, it's trading $107.18 right now. They're gonna be looking to take in $58 billion with a dollar 32 to the bottom line. No, that doesn't look like these things are gonna basically pop. Yeah, this looks like it wants to go down to, down to that $102, right now at $107. That $102 is the same week and it'd be the week of, let's see, we're talking. The week of May 27th. Then you got a down-borrow there. That's what's going on. So let's go into Coca-Cola. That's also coming out tomorrow. That comes out before the market opens. That's trading $61.92. They plan on doing $10.7 billion taking 67 cents to the bottom line. This one here, whoops, that's the wrong one, KO. Okay, so they put this on a weekly. So that was $118 million versus $125. This is gonna be a close call, this one, man. This just might stay in a consolidation. We had come down hard six weeks ago but that was just coming into another downdraft. It's coming into the breakout area. The breakout area at Coke was $56, $57. That's how it's set up. If we go look at Nvidia for a couple of the Tigers out here, this baby here, bottom line, has some strength. You're down four. Now this trades up and down $5, $6 every day but this has strength. It's backing down so pitch this. Well first off, when you see the type of retracement this had is brutal, man. And this is how the stock trades. So this is down from $346 at $168. You came into the breakout area and when I say came into the breakout anything that stays over $152. That's where we start breaking top side in May of 2021. Yeah, this one's higher price. Look at this volume last week and then Nvidia. It's monster. So you laid out a low with $216 million. Well last week we did $322 million which was coming into $245 as well as $345. Now needless to say, yeah, the $322 is less than the $345, but that's a lot of volume in. That's saying that to me I suspect that little Nvidia, this thing can bounce up to $208 like pretty quickly. That's how that thing is shaking out, man. That's how it looks to be shaking out. So you're talking about a decent number here. We go to Big Mac. So you got McDonald's coming out with numbers tomorrow. They're trading at $249. They look to take in $5.8 billion and $2.46 to their bottom line. And it looks like someone's trying to get ahead of it here by selling down McDonald's right now actually. Let me put this on a weekly. Yeah, so this can get to run to $242. Right? The danger point for McDonald's is that when we did come down in March, 27 million, yeah, was going into 25. So that can get retested. This could be a huge consolidation. That's how that is shaking out. GM, let's go to GM. They're coming out tomorrow. This is gonna be a wild week folks who are gonna be talking about numbers. So GM's trading 34 bucks. They're gonna be looking to do 37 billion and take a dollar 31 to the bottom line. And what we will see is what kind of extra expenses that these companies are gonna have. In GM's case, let me see this. Yeah, I wouldn't be touching GM. It's not that it's already come down from this $62. They got cut in half, but it looks like it's gonna consolidate. Let's go over to Newmont for a second. So I wanna show you something with Newmont. Newmont came out with numbers this morning. Newmont had been on the last run up. Newmont was the strongest gold stock there was. Now, look at this. This thing, this stock number one has got cut in half. I think it's just about half in three months. Yeah, 86 to 44, okay? And it's accelerating all the way down. Now, when you look at it, this is important to look at if you happen to be in the gold market because what happens with these numbers, right? Particularly the numbers. See this gold in all sustaining cost per ounce? That's important to understand. So they had it at 1,035. Now, bottom line is 1,153. So that went up approximately about 9%. The reason that number's important folks is this. Newmont is a great miner. And an all-in sustaining cost gets you a floor in the gold market. I mean, yeah, we're trading at 1,800. But I just wanted to understand that to get the ore out, to crush the ore, to get the gold out of the ore, to get the mountain back to how it started, the bottom line is that that's what it's costing Newmont, okay? So when you look at that aspect, the bottom line is that that gives you a fundamental direction, number one, on what the cost is to sustain it. Number two, and it's the, you can expect these expense ratios to be up 10% because that's what this is in here. That the bottom line is that they missed a number, but their expenses, and to get that gold out of the ground is also up 10%. That's a big number, man. We're gonna see more of that. And the larger gold companies, you know, look to me like, yeah, they're definitely weaker than the exploration. Stay right there, come right back. 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Sign up today and become a part of this educational community of traders. Just visit the front page of TFNN.com. This program is brought to you by Vista Gold, traded on the NYSE American and TSX under the symbol VGZ. Welcome back folks to Dow. Dow industry is up 17, NASDAQ's down 98, S&Ps are down 8. Yeah, and let's bring a few more of these golds up because a couple of tigers are saying that what you do have here, you have many of the smaller ones outperforming. If we go to Hekla, now Hekla's a silver stock, okay? Silver, you know, I got smoke just like gold. Loafly is $3.44, the highs $7.60. They don't come out with numbers until the August 5th.  The bottom was laying in a 304, you're a buck over it right now, and I really like what's happening here. See how this is, you're pushing into the swing with volume, this is a nice move, man.  You get 9.9 million, and the swing has 5.4. Now watch this, this is gonna be cool. We're gonna be able, I just put the symbol in. Look at this. So, this symbol that I just put in, folks, gets you all the larger trades, and you can see someone's into the stock, man. I mean, just look at this thing all day long. I mean, it started out, well, you can, from one o'clock on, man, look at this. I mean, just when I was on the 12, yeah, this is military time, so all you have to do is take 12 away from whatever you're looking at, folks. 50,000, 7,000, 50, 50, 42, 31. Now let's go into this, let's see this. Someone is buying this, man, big time, too. And let's just see if we got, because what we're doing now, the screen that you're looking at now, folks, okay, is going to give you, if someone had already been in the equity, and they're buying into it. They won't give you necessarily who's buying today, okay? So, I don't see, when you're looking for, when you're looking at this, you're looking for, I would be looking at the file date, you're looking for the seventh month, or there's no seven months, but I suspect what we're going to have in the next couple of days, we're going to see something in there, because when, yeah, because the volume expansion is growing dramatically, and as I said, when I just put up the larger trades, you can see, it's, you know, it's $50,000, it's a $200,000 trade, and you don't get them one after the other after the other. The thing that's amazing is that this is how you do get in. Who's ever doing this, okay, is doing really well getting in, because you can see they've only moved at 5%, and the way to do it, this is the way to do it. So, here, let me just walk it through this for a second, because what normally happens in a big fund, right, is they don't do it like this, okay, they give it to a broker, the broker doesn't have no freaking clue as to really how to get in. This is the way to get in, because what ends up happening is that each and every time that you're really getting in, you know, you're saying, okay, the broker on the other side has taken the risk that in this case it's going to be at the New York Stock Exchange, because this equity is one of the oldest equities that trades at the New York Stock Exchange. So, what ends up happening is that when they're basically feeding it one by one coming in bottom line, I know it's at 50K apiece, but they don't know when that thing is going to end, and that's the way to do it, versus saying, okay, give me 400,000 shares, because it was 400,000 shares at the bottom line that had popped that way too far, but anyway, I suspect that that is an equity that wants to go higher. If we stay with the theme about the larger gold equities, and this is when I was doing the gold report this morning, I didn't like how these looked, particularly because you got Royal Gold, great stock, that's down two and a half dollars, man, that hasn't been able to catch a bid at all. Franco Nevada, that's another one, hasn't been able to catch a bid. Bottom line, same set up there, I can see that's lower. And then Barrick, the four biggest gold stocks actually are some of the weakest stocks in the market. And look at Barrick, Barrick's down 47 cents. Now, the way that works fundamentally, so watch how this works, oh, an eco-eagle, same deal. An eco-eagle can't hold price, let's see this. Come on, come on. So an eco-eagle, yeah, look at this, can't hold price either, they're accelerating down. So what happens here is this, this is how this goes. When you are already deep into producing, well, the bottom line is when Numan comes out with the, you know, saying, hey, my all-in costs are up 9%, my expenses are up, bottom line, the market's recognizing that that's all up. That is where you see the difference, okay, in the texture of, I'd say, heckler, let's go look at Pan American Silva. I would say heckler is basically an outlier. Yeah, heckler's an outlier, that's the bottom line. Heckler's an outlier, because you can see Pan American Silva's having a hard time holding price also. So the folks that have the mines, that are deep into the mine, that the market is recognizing that the expense structure has gone up by 9%. Well, 9% in the gold market, folks, is a monster. Well, 9% in anything's big. But the gold market doesn't have that bigger spread.  You know, when all's said and done, but when you think that you have to take so many tons, they say 10 tons of, or to make one ounce of gold, then return the land to where it was. You can see the gist of it, that you better have something in there that has some, a bigger spread, figure out how to get some of your costs down. And you know, one of the tigers were saying that in Newmont, they didn't bottom line hedge their fuel costs. What happens in a hedging process in general, folks, is that the way I look at it, they're in the gold business, okay? And I remember the first run, and this is where, yeah, this is 20 years ago, but the bottom line is that no one ever thought that the gold business would go out of the bear market. It was like a 20-year bear market, it was insane. And what had ended up happening is that you had, you know, well, Newmont, Newmont in particular, they hedged beyond belief that it would end up costing like $2.8 billion to take the hedge off because, you know, bottom line, it went up. My general feeling is that, you know, let's say you're in the airline business. I can see definitely you're hedging, you know, an energy diesel fuel deal at lows, not at $100, okay? The other business is that the gold business has got slammed by hedging anything because the bottom line is that all they're really doing is trading it. That's the bottom line, you know?  That's the history, you know? And thank God that Newmont had actually bought back their hedge because if they didn't, then it would have been 100, no, it would have been billions in the three digits. No, it would have been three digits. It would have been 30 or 40 billion, though. It would have been an outrageous number, let's put it that way, because gold, of course, you know, went from 258 and the first run was like 1169 or something. But, you know, cost to cost. And the aspect, the way that I suspect this is gonna shake out this week, we have the Federal Reserve on Wednesday. And the way I'm looking at this right now, whatever the Federal Reserve is saying, it looks to me like the S&P wants to go higher and metals wanna go higher. And where I'm going with the metals is that I'm going, that the dollar, okay, is wanting to go lower, you know? It's teetering right now. It's trying to get over this number once again. The number is 106792 or 106447. But the way it's traded out here today, it's like, okay, it's gonna be a close call. It hasn't made it over yet. The longer that it stays under that number, the higher the probability that that dollar has topped and we're going south. Stay right there, folks, come right back. 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Go to tfnn.com and hit Watch Tiger TV. That's tfnn.com and hit Watch Tiger TV. Welcome back, folks, down. Down is up 60, Nasdaq down 71, S&Ps are flat. Let's get over and take a look at the spy. So you get a sideways to light a market. The bottom line is that when you look at price and volume, folks, what you're doing today is you're backing down and because you didn't go for highs and you have a huge contraction of volume. That says a market wants higher price, man. Bottom line, we did hit a high on Friday with 72 million, you're backing down with 43. That's in the spy. And we take a look at the NDX100, the 3Qs, 3Qs right here. We made a high on Friday with 57 million, you're backing down with 35. That's still a market that wants higher price. You know, what we will have is that on Wednesday at two o'clock, that's gonna be fireworks. No doubt about that. The real kick is gonna be, you know, do they do three quarters? Do they do a half? And then what do they say? Because when you look at the calendar here, this is the way this shakes out, man. The bottom line is that the calendar, July 27th, the next Fed meeting after that is gonna be September 21st. We have, the Fed fund rate right now is one, whoa. Second, sorry. The Fed, the Fed fund, where is it? Is 1.75. So the Fed wants to get that up to two and a half. And two and a half is not too far from 1.75, right? You know, you're talking about another three quarter percent, you're at two and a half. So they're either gonna do a half and say they're gonna do more, I said I'll do a three quarters. And my take is that if they do the three quarters, you know, they're gonna say that, okay, things are gonna slow it down because that gets us two and a half. You know, now, granted, in order to crush inflation, I think it's gonna probably have to be more than that. But at this particular point, the bottom line is that that's all this market would need to really get a rally going because just like anything else, when you're at highs, picture it.  It's a twisted world, man. You gotta love it. Eyes are in the folks, the bank and claw your heart out, the bull can run your world rent. Thank God, there's always another trade. Health app is in prosperity. Have a great night, folks. Have a safe night. Come back and visit Tommy tomorrow morning. Kicks us off nine o'clock in the morning. Great show. Reel, look at him, folks.