The following program is supported by High Country Bank, which has been serving Colorado since 1886. While High Country Bank remains a true community bank, they offer many of the same services as the big banks. They specialize in mortgage, construction, and business lending and strive to provide an exceptional customer experience with every interaction. To learn more, please visit www.highcountrybank.net. Hi I'm Realtor Sara Morrow with Cell State Peak Realty. Welcome to Episode 4, Property Time. Today we're chatting about commercial lending and I'm thrilled to welcome Drew Balingham, commercial lender with High Country Bank here in Longmont. Drew is on his 20th year of service in lending. He's truly an expert and he's about to share some golden nuggets about how it's not so scary to take out a loan as a small business owner, whether you own property or not. Drew is a local family man who has worked with hundreds of entrepreneurs. He comes from a family of entrepreneurs and he's passionate about building stable financial futures alongside his clients and his customers. As a long-gamer myself, who's an entrepreneur, I cannot wait to hear his wisdom and I hope you'll join me whether you own a business, property, or not. Hi Drew. Hi Sara, thanks for having me. You're so welcome. Thank you so much for coming. Yeah. So let's dive right into this. So now that we're somewhat post-pandemic, I know that Longmont is rife with small business owners and all of us are clamoring for a little support maybe to make up for lost time the last couple of years and I don't know, you're the expert. What does a commercial borrower or a small business owner need to do to either qualify for maybe a mortgage or a purchase or even just to get money because let's be honest, some business owners need money more than they need real estate right now. So tell us about what you're seeing and who you're helping. They do. One of the hard parts that a lot of business owners are coming in contact with is like especially with the pandemic, maybe their banker is not there anymore. Maybe their relationship with the bank is now gone. And so they're looking to see who's out there, where they can go. It's nice to, we've got a location here in Longmont. It's nice to be in Longmont to have that local feel where people can go and mingle. And so a lot of times it's just word of mouth as a good start. They know other business owners in the area or work with other people. They can ask who do you bank with and stuff like that and that's a good start. So what are you seeing, do small business owners, do they already have existing relationships with you? Do they just walk through the doors? Are they applying for loans? Tell us about commercial lending just in general. In general. Okay. Well, there's lots of different aspects to it. So a lot of what we're seeing at High Country Bank because we're such a small community bank and we're new to the market. So we're trying to figure out what our niche is. What businesses are here? Where can we entrench ourselves in the community? And initially, since we opened in last November, right in the smack dab in the middle of the pandemic, businesses were closed. And so I was walking up and down Main Street and it was kind of like, it wasn't depressing, I don't know if it's the right word, but it was kind of like, it was sad to see that there were businesses that weren't around anymore. And so, but yeah, they can go online to look for a bank if they've got a specific request that they know of, if it's an equipment loan, if it's a line of credit or whatever it is, line of credit lender or whatever, they can go online and search for things like that. We don't have a lot of walking through the door business anymore and that's true with anything, any bank. And so a lot of it, yeah, it's just as word of mouth as we've, you know, done community events, gotten involved in the, in the community. People recognize us. They see us wearing this shirt. They ask questions and from there it just kind of snowballs in and you know, just to start the relationship and start the discussion. A lot of times it's either via email, someone introduced us via email or a phone call or at an event and a card has been swapped and then somebody calls in and we start the discussion at that point.  So you were, you were out looking for people to help and to serve and it sounds like there are some businesses that obviously survived, such as you guys. Tell me about one of your partnerships here in Longmont that's been rewarding that you could, that you've been able to support and see them through the pandemic and maybe even help them own property or expand or rent or pay their rent or. Yeah, I mean, I've had the opportunity to deal with a lot of different industries since I've been here and different aspects of businesses. You know, one in particular is a Main Street business here that had experience in the dog grooming industry and so elsewhere, but had come here and they were working, you know, with a dog groomer and getting paid contract, a contract with that groomer and that groomer then became is 70, I think. And so she didn't want to be involved in the business anymore.  And a dog groom business is an interesting business because there's not much. I mean, there's some inventory. All it is is basically the least space, you know, with some like really particular type of space. Yeah. And so there's not much in way by the way of like collateral, you know, for us to lend against and especially if they're leasing the space, we can't use that as collateral because they don't own it. Sure. But we were able to provide them with funding to purchase the business. And we looked at, OK, this business generates X amount of money. There's, you know, there's a client base here already. And that helps them qualify. It does help them qualify.  So they've got to have some kind of income that's generated to it. It can't be all pro forma and projections. But that was nice. It was a it was a small loan, but for them, it was huge because they were start up, they were pandemic. Exactly. They were renting. Yeah. And it was a business that was mature. It already had a customer base. And so they were just walking into and then with their expertise, you know, they've been able to just grow it exponentially from there. So that was kind of neat. That must be very rewarding. It is. To help the underdogs, to pun. Hey, there you go. Yeah. Thank you for that. Well, we mentioned qualification and I want to also touch on that. Were you done? Did I interrupt you? No, I'm done. There's there's many examples. Like I like that. Yeah. Just another one just to kind of throw it out there. Like e-commerce is a big thing now. So we actually have have a client now who's he started out in his garage selling barbecue equipment, accessories and stuff like that. Oh, OK. And not the food, not the food, but just, you know, everything around it. But like aprons and LED lights that hang on the barbecue unit and stuff like that. Fun. But he was, you know, he had a little bit of product and it was it would be shipped to his house. And so he was just out of his garage and from his garage, you shipping it. Well, the pandemic hit and he had a new product that he wanted wanted to launch. And so he got on Facebook and he did some some other advertising and marketing and hadn't really delved into that side of the business to date. And it just went like wildfire. And it went from, you know, making a couple hundred thousand dollars in revenue a year to now he's like almost up to two million. And that was pandemic fueled because everyone's online. And everyone's barbecuing. Everyone's barbecuing. And so his products just and so he went from a two hundred thousand dollar a year business to almost two million. And it's just going to grow and grow and grow. And so it was nice for us to get in on the ground level with him.  Like he needed that boost. He didn't have cash to purchase all this stuff and get it made for eventual sale. And so we were able to help him with that, get him a line of credit. It's it's the line of credit has since increased as revenues increased and things like that. But now it's cool to see that. I mean, there's so many different businesses in this area. We all we hear about all the big, you know, ball aerospace and all the big companies and publicly traded companies that are here, which is awesome. Right. But yeah, there's a lot of smaller businesses that are scaling up or just starting. There's there's a ton. So it's nice. Well, despite this being a real estate show, I do appreciate you reminding me that Main Street is you know, the American dream is not just about our actual Main Street strip here. There's a lot of e-commerce. There's a lot of like I'm a realtor. I don't physically have a space on Main Street. You know, I've got an office in Kaufman, but it's like a lot of us are just doing this online. We're doing from our bootstraps and it sounds like you have some wins that must feel very good to partner with. So I wanted to also get you mentioned qualification and you mentioned business credit. It feels like a lot of us, particularly in this real estate space industry that we're in, you know, we know a lot about the 30 year fixed mortgage. We know about the amortized qualifying. I have to show you my tax returns. I have to show you my pay stubs. I know what roughly I can qualify for. Then I go shopping for a house and then I go shopping for a loan product. You're on the commercial side, which intimidates a lot of people. Even if I do have my own mortgage and I do have a small business, I might be really intimidated about getting a commercial loan, you know, small or large scale business. So can you help me figure out? Do I run from it? Do I wait? Do I just dive in because it's really not that scary? I mean, it's not scary. And I hope that when people talk to me, their initial thought, you know, their initial, you know, introduction with me, I try and say it's not scary. This isn't a scary thing because it's not. I mean, it's but I do get a lot of feedback that that's why, you know, people waited till the last minute till they needed funding in a week or two because they were just so scared. Yeah, I noticed the fear leading to procrastination myself. Exactly. Yeah. But I mean, there are some similarities. So mortgage lending, there's typically like an application process. And you have, you know, you have to provide tax returns and income statements and financial statements and so on and so forth. Similar with commercial lending, no matter what it is, you've got, you know, whether it's a line of credit, whether it's an equipment term loan, whether it's a commercial real estate deal, whether it's $10,000 that you need or whether it's $5 million that you need. The packet is pretty similar. It's the same. But there are there are a lot of different products. So mortgage lending, yeah, you've got your 30 year fix. You've got jumbo, you've got, you know, it's pretty standard. A lot of people understand like what those loans are all about. But on the commercial side, it there's, you know, for a commercial real estate loan, you're typically looking at like a 25 year amortization period where where and your your loan is only fixed for five or 10 years of that 25 years.  Right. Which is different from mortgage, where it's different from the 30 year fixed rates. Yeah. So there's a lot of because there's there's a lot of risk with lending, you know, at 4% rates. If in 25 years, it's going to be up to 10 or 15% or whatever it is, you know, so there's just and so that's why and I don't want to jump jump the gun because I know we excuse me, we talked about this earlier, but that's why it's good to know somebody or have somebody to talk to, especially on the commercial side, because you've got there's so many different options and it's it's such a there's a wide array of doing. You could give two or three products to somebody when they only really need like this line of credit or something like that. Right. It's very tailored. Yeah. I'll get to that in a second. Can you say more about you mentioned the qualification, the terms you mentioned, the interest rate, you know, a lot of us that own homes, we refi within a couple of years to improve the rates. That's very normal. We don't see, you know, things spike or change or the risk. Like is that does that kind of operate the same way with this 25 but five year balloon? It does. Typically, there's on the commercial side, there's a prepayment penalty. OK. So within like the within that five years or 10 years, if you go to refinance elsewhere, there's a penalty for doing so, whether it's a percentage of the loan amount or some other formula. But the interest rates in the terms are pretty similar, right? Fourish percent right now, depending on a bunch of different factors, I'm sure. Right. Yeah. Typically, a dollar amount is a factor. You know, if you're doing a three million dollar commercial deal, you're you're probably getting one of the best better rates just because to stay competitive. But yeah, it's pretty similar. We're generally commercial real estate loans are generally a little bit higher than what you what you'd find on the mortgage side. Yeah. Cool. And people do the 20. You said 25 year is kind of what they naturally automatically default get. Do they have a choice about that? I mean, that's like the conventional like 25 year am five year fixed and then it reprices after five. But there's also I mean, you can do 15 year fixed rates. Ten year fully amortizing fixed rates.  So it doesn't make sense to a lot of for a lot of commercial real estate owners and investors because they're they want their rents to be able to pay for the loan. And so, of course, you know, for the numbers to make sense. Yeah, can you share a little bit more about like details on your specific products and how they are competitive to other banks and other lenders? I know you guys did a lot with PPP during the pandemic, which I'm sure was part of your hitting the pavement hustle. And then, you know, I'm sure you guys work with Chaffa. We do check a little bit how you subsidize. You're the conventional side who subsidizes that and allows for that. Yeah. So we do. So instead of going SBA on a lot of like so we get a lot. We feel a lot of inquiries because we are new to the to the area and we're a smaller community bank. So we get a lot of small business type inquiries. And where other banks may say, OK, this is an SBA product. You need to go. I see. We need to partner with an SBA. They sort of qualify that and then bring an SBA for you. Exactly. We'd use Chaffa, the Colorado Housing and Finance Authority. And so what that does, yeah, there is. So it's basically the same kind of thing as SBA. It's like an insurance type product. But, you know, just to like mitigate risk, essentially. But so like, for example, if you've got a hundred thousand dollar line of credit and you only have collateral of one hundred and ten thousand. So there's, you know, for lines of credit on like business assets, typically we're lending like sixty five to seventy five percent loan to value. So, you know, for a hundred thousand dollar line of credit, you need to show one hundred and fifty thousand dollars in collateral. So there's sometimes a shortfall there. Gotcha. You mean if I require a hundred for my project? Yeah, it can only show that I'm earning up to X dollar amount. Right. That's when Chaffa can fill in the. So there's a there's a gap there. Yeah. So Chaffa essentially comes in and for they charge a one percent origination fee and that money goes into a pooled account of money that the bank has. And the origination fee money goes into there. And and that essentially is the the the buffer, the buffer. Yeah, yeah, the gap filler. Yeah, it's not so different from like a down payment assistance program in the residential side. Yeah. But you're saying I don't apply for that. You apply for that on my behalf as a business. Exactly. Yeah. It's just a partner. Yeah. And then compared to SBA where SBA lending is very arduous. It's a it's a it's a long process. Yeah, you have to wait two months, right? It's a little more expensive, you know, higher origination fees. This is a two page document that goes with our credit presentation. And it's technically more local because it's Colorado only. Is that correct? It is. So the bank has to have a relationship with Chaffa. Right. And we do. Yeah. Cool. So you've got but PPP, Chaffa, SBA, these are government subsidized programs, whereas you bring on the conventional bank side, but the two together lower the risk for lower the risks to you from me. Exactly. Yeah. So if you're like a newer business that doesn't have a track record of success, then that's when we would use Chaffa. If you're, you know, an existing business like I'm working with a company now that's 22 years in business, we're not going to don't need Chaffa. We don't need it. Yeah. Right. So cool.  Like it seems like it's easy, but you touched on this. In my experience with these cut rate realtors and just sort of like going down the wrong path myself and seeing clients do it. Tell me the real the real reasons why you need a human, why you need a branch, why it helps that you're local, why it helps that you're a local small business that's new yourself. Right. You know, can you give me some sense of like, what if I'm saving more money by calling the one 800 number and I'm getting a better rate? Like, isn't that a better deal? Yeah. And there are, I mean, we obviously, a lot of banks share the same sentiment that we're like relationship driven. And so, yeah, if someone's going out and looking for the best rate, you know, and cheapest money shopping around, so be it. Yeah. Go, go, find. I don't believe what I said, by the way, go, go, find, go find that. And that's fine. You know, maybe at least I've had this conversation with you.  But what was your question? Yeah, sorry. Why use a human? Oh, yeah, yeah. So a lot of a lot of customers that we've received so far, they've gone to a bank and just because the industry they're in, maybe it's a restaurant where, you know, for the past year and a half, if you go to a bank and say, I'm a restaurant and I need a loan, they're just like, no, like, I don't know if you're going to survive COVID. Yeah. Yeah. And so they get kicked out. And so it's like, okay, but, okay, you want to open a restaurant. Do you have other assets? You know, do you have a home that you own that you now have a lot of equity in? Because the market is hot. We can, you know, put a second deed of trust behind your first mortgage. If there's equity, yeah. Make it work. And so if you don't have that relationship with the banker or, you know, if you don't have somebody to talk to and you go to a bank, it can be frustrating because the creativity is out the window. Yeah. And they're like, no, thanks.  Needs change. Yeah. And, but, and so he can, he can quickly facilitate getting me information. I already know, is it his, you know, what's happening in his business? Yeah. And so it's really helpful to have that human touch. Drew, thank you so much for your time. Thank you, Sarah. Appreciate it. That's the proper tea.


You know, every time I've ever used a juicer, I've always been so frustrated at the lack of yield that comes out of whatever I'm trying to juice. I'm curious, how many apples does it take that you have to juice to fill up one bottle of cider, or one can of cider? Yeah, it takes about 1,000 pounds to create about 165 gallons of apple juice. Okay, so it's a lot of apples. I mean, you're talking probably four or 5,000 apples becomes 165 gallons of juice, okay? So it's a lot, but the reason we really love what we do too is we don't have to change the natural way of things. So when you press an apple, you get a high yield. It's a very fleshy fruit. There's a lot of juice in it, right? Grapes are a bit different. They are very small and take a lot of them to create juice, right? So you're paying exponentially more for grapes to get a ton of them versus apples. Apples are just a bigger volume, widely available. They're grown in more places with varying climates. There's not so much push on the idea of has to be grown in this soil with this amount of water and blah, blah, blah, blah. And with wine, you're watering these vineyards like crazy. There's irrigation all over the place.  And these monocultures now that exist in Sonoma and Napa are horrible for the environment up there. They've literally ripped out apple trees that have been there for decades because it was the biggest apple growing region in California with Sonoma specifically. They ripped them all out and planted Pinot Noir because they figured, hey, apples go great in this type of environment, but so do Pinot Noir. We know that from other places in the world. So let's rip out all the apple trees and plant grapes.  So also you're pulling all this water out of the planet to then water these vineyards in a very specific location. So you're sucking water out of the system here in California, which has been in drought for as long as we've ever been here. Where apple trees are dry farmed. They have root structures that go down to 100 feet below the ground. They pull water from the water table down below. They don't need any irrigation at all. So we don't use any energy in our facility as far as heat. We don't heat things up. It's cold fermented juice. We don't use any water in the process here in the facility or even to grow these apples. They're all dry farmed. So our carbon footprint, our water usage is very, very low, very minimal. We're really comfortable with that. We feel like we're doing something good there. In addition to that, when you press an apple, you get a lot of yield and there's a lot of apples available in this country. It's a constant stream of supply. The number one fruit produced in this country by volume is apples. So it's very easy for us to always get the juice that we need. And when it comes in, it's fresh pressed juice. It's delivered to us overnight. And when it comes in here, it sits for three months and does its own thing. We don't tell it to do anything. We literally just sit there and watch. You know, like anyone could do this at home. You guys could literally make what we make at home. I don't know about that. Well, that's the thing. People won't try it. We're happy to let people in on that secret because we feel like the chances are they're not going to do it on their own. Hey everyone, thanks for checking out that clip. If you enjoyed it, be sure to hit the like button down below. And if you're interested in hearing the full episode, it's out right now on our YouTube channel. We've had a lot of great guests come on this show before and we've got a lot of great guests coming up in the future. So hit subscribe so that you don't miss a single episode. One final note, we're always looking for new ideas and new companies feature on the show. So if you know of someone or know of a company, write us a comment down below letting us know who they are and what they do. We'd be happy to have them on the show. Till then, I'll just be here waiting for your comments. So, see you later.


If the whole world really is a stage, a pub is perfectly placed right at the very heart of it. These pubs have been places of inspiration for London's famous figures, including authors like Chaucer, Shakespeare and Dickens. The pubs have survived fires, wars and modernization. When it comes to London pubs, the pub that we are going to visit today, Ye Olde Chester Cheese is often considered as the cream of the crop. With the rich history, authentic interiors and affordable food and drinks, Ye Olde Chester Cheese is a great example of truly historical London pub. So watch this vlog as we are going to explore the pub and uncover various secrets that make this pub so historic and worth visiting. This pub has been at London Fleet Street for over 300 years. Outside the entrance, a sign listing the monarchs who have reigned during the pub's history can be seen and merely glancing through it you will realise that you are walking inside the oldest pub of London. Talking of the famous monarchs, it is said that Queen Elizabeth I danced for joy around the tree in the courtyard of this pub. Another interesting thing about this pub is that it is the first new building to be built following the great fire of London which destroyed most of the city in 1666. It was rebuilt by Christopher Wren shortly after the fire in 1666 as the place where the men working under his charge who were rebuilding the city could find a meal and a pint after a long hard day. The pub acquires a strong literary legacy attracting Oscar Wilde, WB, Dr. Johnson, Charles Dickens, Arthur Connell Doyle and Mark Twain. The interior walls are decorated with plagues detailing the many literary figures that patronised the pub over the centuries. The famous Dr. Johnson lived just a few miles away from this pub. In fact, the chair of Dr. Johnson, the man who wrote the first dictionary, remains in the pub till this date as he visited the pub quite frequently. It was not just visited by literary geniuses like Mark Twain, Alfred Lord Tennyson, Sir Arthur Connell Doyle and P. G. Woodhouse but in fact it was the meeting point of famous literary groups as well. The Rhymers Club, the group of London based poets founded in 1890 by W. B. Yeast and Ernest Ries originally not much more than just a dining club, this group produced anthologies of poetry in 1892 and 1894. The group members of Rhymers Club met at this pub, Cheshire Chase and in the Domino Room of the Café Royal. By the way, let me know in the comment section below all the other members of Rhymer Club that you know. Famous among the authors, it is not surprising that this pub has been alluded to and downright mentioned in several classic stories. In Agatha Christie's Million Dollar Bond Robbery, Detective Hercule Pirate dines with a client at the Cheshire Chase. Louis Stevenson mentions the Cheshire Chase pub in his work The Dynamiter. He said in I-Court, a select society at the Cheshire Chase, engaged my evenings. It is also believed that this pub was a setting for a scene in Sherlock Holmes' story The Red-Headed League, written by our beloved Sir Arthur Connell Doyle. Charles Dickens was also known to visit this place frequently and it was famously alluded to in Dickens' A Tale of Two Cities. In the novel, it is the first place Charles Downey visits to get a simple supper and a few fine vines after escaping trial for high treason at the Old Bailey. Do you know that Tale of Two Cities was in part an inspiration for the American children's book The Cheshire Chase Cat by Carmen, Dee Dee and Rambelle Wright. The novel takes place at the Old Cheshire Chase pub and centres around a cheese-loving cat named Skinny and a mouse named Pippa. This cat despises the thought of eating a mouse. The book opens with the line, he was the best of Tom's, he was the worst of Tom's. It's a parody of course on The Tale of Two Cities. We also find Charles Dickens making an appearance in this book. The entrance to the pub is situated in a narrow alleyway and is easy to miss. Yet, once inside, visitors will realise that the pub occupies a lot of floor space and numerous bars and gloomy rooms. It is upon entering the pub that you realise that the pub is larger than it appears from the outside. In fact, the pub is a delightful labyrinth of different rooms. Front Bar, Chop House Restaurant, Cheshire Bar, Cellar Bar, Williams Room and Johnson's Bar to name but a few. In the bar room, outside you will find a posted plaques of famous people who were regular visitors of this pub. The pub has a homely open fire and a true traditional feel. There is a lack of natural light which makes you quickly forget that there's a world outside the pub. On one hand, you will find the entire pub is panelled in world dating back to the 18th century. On the other hand, the vaulted cellars will remind you of the 13th century caramelite monastery which once occupied the site. As you look around, you cannot help but wonder how the entire pub looks like a sprawling labyrinth of bookpaneled rooms and passageways, each with their own atmosphere. Among all the literary connections, perhaps the most interesting and certainly the most unique character in the long history of this pub is that of Polly the Parrot, who a century ago was famous around the world. Oh yes, I'm actually talking about a real parrot. The pub was home to Polly the Parrot who was often heard swearing at the customers. Polly was an African Grey and this species of parrot is renowned for their great skill of mimicking noises. Polly was known to be a very picky parrot who would be rude to the visitors that he didn't like. He was known for his foul temper and more vicious tongue. The parrot's antics made him a bit of a local celebrity. Polly said rats to the customers and abused the customers which no doubt must have upset and amused the bar staff as well as the customers in the equal measure. He was incredibly popular with the regulars and even received visits from such famous people like Charlie Chaplin. The parrot was known for imitating popping corks which sadly became the reason for his death in 1926. Yes, the parrot died out of exhaustion as one evening he imitated the sound of popping champagne corks over 400 times. Following his death in 1926, obituaries that is death notes were written about this famous Polly in and around the world and there were 200 newspapers across the world that wrote such obituaries. And the sad news was even read out on DVC, London radio station. Now, despite being an ex-parrot, Polly can still be found at the pub today stuffed and kept inside a glass cover above the bar. The history of the pub is evident in every inch of this four-storied building with different rooms dating from and furnished from different time periods. By the way, this pub is also known as the chop shop which serves best cuts of meat as well as their signature dish, the oldest cake and kidney pudding. So, whatever be the occasion, this is a perfect venue to celebrate. So if you ever decide to visit London, don't forget to grab yourself a proper pint and explore this beautiful pub where you will find yourself walking on the footsteps of the great literary authors. So with that tipsy note, I would like to take your leave. That's it from my side for this video lecture. I'll meet you very soon in the next video lecture. Till the time we meet next, happy learning, keep loving literature and stay tuned to arpitakarva.com.


Now, this is Melissa Arbaugh and I'm reviewing here Full Locker, Full Locker was a great gap on Friday. Now, usually I'll look at longs, but I will look at the best gap. And to be honest with you, this was the best gap on Friday, which I did tell the room. Now, why? Why was this the best gap? Again, this was Friday. Mark was closed Monday, Tuesday morning. Not really anything to do with this here, but I just wanna show you why this was the best gap. Actually, let me just grab here where we opened. We opened at 52.37. So, Full Locker had earnings. Closed the night before at 46.39. Open here at 52.37. Now, this reported was Friday morning. Okay, so this was one that came out in the morning. Sometimes stocks report at night earnings. Sometimes they reported the morning. This was an earnings gap. Okay, it reported Friday morning. It was the best gap. And this is something that I teach in a combination of the Golden Gap course and the Trends course. Why was I so in love with this? And again, I prefer to short rather than go long, but the reason is that Full Locker was, okay, on Friday morning, something called a corrective gap. So, this chart was in a downtrend. It was even in a downtrend in 2017. Started off the year very poorly. With a gap down that happened here was a great short. This was actually, that was about two years ago, or a year ago, 2017. 2016 stock was in an uptrend. The market was rallying here all last year. This was May earnings a year ago, and stock fell never looked back since. The stock, literally, from the previous earnings was up in the 70s, and then at one point, again, this is last year, 2017 was in the 30s. So the stock lost more than 50% of its value in less than a year, and that is the power of the gap. Now, it's turned around. The reason this was so powerful on Friday because Full Locker then went from an immediate downtrend into an immediate uptrend. That is rare. You don't see gaps like this that often. Now, it's not that there aren't plenty of days to play quality gaps. I'm still very picky. You still can't buy every gap up, and you still can't short every gap down, but I am so good at determining the ones to do that with. But in this case here, this was even more special because it changed the trend in the chart. It's called a corrective gap. This is something that I teach in a combination of the trends class and the golden gap course. It was very, very powerful. This was an amazing long on Friday because of that reason, okay? This should fall through, would not trade this today. Markets down this morning, and also, what are you gonna do with this here after the bar that it had on Friday? Wouldn't day trade it. But long term, Full Locker is higher now. 60 is the next point, and that's in sight. This was a really nice gap. You could have day traded it all day long on Friday several times, and you could be in it as a swing trade or you could have done it as an option and just been in and out on Friday. So I wanted to show everyone also here what a gap is for those of you that do not know. A gap is just a difference between the close and the open. Gaps can happen up or down, all right? But I'm looking for institutional money in a gap, and I decide to play a gap or look at a gap or even watch for a setup in a gap to take it into the live day. Never trade in the pre-market, never trade in the post-market. Too dangerous, too wild. Not enough volume usually either. Look at this actually, this is volume this morning, I'm surprised. This could even fall through today, but I wouldn't go on this today. But anyways, a gap is a difference between the close and the open. So you see here now, this was the after hours on the previous night, Thursday night, and then the stock gapping up in the pre-market here in the morning. So the pre-market activity is where you see the gap. You can also look at it in your level two if you want. But for Footlocker, where it closed and opened, this is a gap. Closed at one price here, open at a different price. The gaps can be big, they can be small, and we play gaps of all kinds, okay? I have to see that institutions are gonna come in and follow through the movement that the gap's happening, whether it's buying or selling. And that is what I teach in the Golden Gap class, it's a rating system, it's a 26-point rating system. Footlocker was a great gap, and they just hands down, I said that in the room in the morning, this was a great gap. It even went farther than I thought. I mean, 55 was a normal target for this, 54, 55, this went up to 56, and went over 56. So it is important to find specific things to trade. Why? That's how you're gonna make money in the market. You don't need the market's directional bias to be read correctly then daily every day in order to get stuff. Lots of times things will gap with the market, like Footlocker's down the day just because of the market overall, but the stock is still strong. You need to find specific things to trade. You need to find specific times to do them. A gap is a difference between the close and the open, shocks and cap, up and down. I prefer to look at shorts, but I'm picking on Footlocker here because it was such a great call, such a great read, this chart is now in an uptrend, and it collapsed last year during a very bullish time in the market, this thing is gonna turn around, it has, so I like it as a long, I just wouldn't day trade it today. Friday was a day to do it, it was a huge, huge winner, and congratulations to everyone that did it. Great read I had on this chart, great bullish gap, every once in a while we will look at longs, but Footlocker was the one for Friday. And again, the corrective gaps is something I teach in the combination, the golden gap course and the trends course, but it's rare. But when you find one that switches trend, whether it makes it from an uptrend to a downtrend to an uptrend, they're so powerful, so, so, so, so, so, so powerful. And you gotta learn how to find them and spot them and play them, because that's how you're gonna make money in the market. So congratulations to everyone that did Footlocker and great read by me, if you're interested in the golden gap course, the next class is June 9th and 10th for the month of June, and you can email me at melissathestockswush.com to sign out.


We're not allowed to just break into somebody's apartment, protested my brother Alex. What if someone's home and they call the police, we'll get grounded for sure. That place has to be vacant, I replied. I haven't seen anyone go in or out since we moved in before you were even born and mom and dad aren't going to find out. They won't even be home until Sunday. Alex eventually caved. He climbed up using the outer fire escape. The heat wave left us both drenched in sweat as we ascended the seven flights of stairs. There it is, I said, motioning to the slightly ajar window I'd spotted from the street. Just be careful, please, begged Alex, eyeing the distance down. I promised him I wouldn't drop him. He climbed onto my shoulders, reached up and placed his palms under the rail. With a grunt, he managed to raise the window and crawl inside. All right, I called, just find a way to unlock the front door, I'll be right there. I hurried down, re-entered the building and took the elevator up. When I reached the apartment's front door, I knocked lightly three times. To my relief, it creaked open, revealing Alex inside. It's like you said, he whispered, nobody's home. His face was pale, and I realized he was shivering. Great, I said through a grin. Is it okay if I go now?  I said, as I placed my hand over his face and shoved his scrawny form back into the room, we'll go back together when I'm done. The first thing I noticed was just how cold it was. If nobody lived here, as I suspected, then someone was paying a hefty electric bill to keep it at such a low temperature. I flipped on the main overhead light, revealing a compact and relatively barren space. A coat closet to my right was empty, aside from three pairs of formal brown shoes. The cobwebs that stretched across the antiquated bathroom indicated that no one had entered in some time. The shelves, drawers, and pantry in the small kitchen were also bare. Strangely though, it included not one, but two refrigerators. The first was imposingly large. Its frame painted a metallic gray, was at least seven feet tall. What are you doing? Asked Alex as I tugged at its main handle, just trying to see if there's anything in here worth taking. Maybe they've got soda or beer or something. I sighed with frustration though, as I realized that it wouldn't budge. You said we were going to look around, not steal things. I ignored him as I approached the second refrigerator. It was slightly smaller, with a sickly yellow color that matched portions of the tacky floral wallpaper behind it. Its single compartment opened with ease, revealing only an empty space inside. I turned to Alex. If you keep whining, I taunted, maybe I'll shove you in here. Alex quieted down. He entered the living room, which contained two long, wide devans with sunken white cushions that encircled an outdated television. Ugh, is there anything of value here? I whined, as I sifted through a small set of VHS tapes stacked next to a dusty VCR. Balto, Annabelle's Wish, Toy Story, Ghostbusters, Batman and Robin, none would be worth the effort to sell online. Let's go, Alex insisted. Maybe somebody does live here, they could come home any moment. Plus, there's nothing here worth taking. There is one thing, I sent, motioning to a mini-fridge that sat between the sofas. It was tiny, with a murky olive finish. If you want to leave so badly, carry this back to our apartment. You want me to help you steal it? No way. Just do this one thing, and you can go now, okay? Ugh, fine, moaned Alex. He called back to me as he carried it into the hallway. But if I get caught, I'm blaming you. Whatever, I said, I'll catch up with you in a minute. As I stepped into the bedroom, I sensed a vague hissing sound growing in the kitchen behind me. I started to feel uneasy, but I pressed on. I had one more room to explore. The bedroom consisted of a king-sized mattress that lay in the center of the carpeted floor. Next to it sat a small pile of cushions, and on the other side stood a wooden dresser. I pulled open the top drawer, my heart beat in excitement as I finally hit the jackpot. An orange pouch contained jewelry and a set of vintage coins, Sacajawea, Susan B. Anthony, and silver dollars. Next to it sat a thick stack of out-of-circulation $2 bills held together by a rubber band along with a set of stamps, envelopes, and wallet loaded with additional cash. The wallet also contained several outdated credit cards, a library card, a checkbook, and an old driver's license all displaying the name James A. Herman. I had a vague memory of my parents mentioning a Mr. Herman living in the building when I was little, before Alex was born, something about him running an appliance company. But where was he, and how had I never seen him before? I returned to the living room carrying some of the more valuable items I'd found in the dresser. To my surprise, the chill I'd felt before had faded. The room was getting warmer, I noticed smoke rising from the kitchen. Suddenly the overhead lights cut off. As my eyes adjusted to the darkness, my feet sensed a vibration in the floor. Slowly, I discerned the silhouettes of two bulky objects in the kitchen, the refrigerators, and they were shaking. As the shaking grew more violent, the hissing grew even louder. The door to the silver fridge burst open, I screamed as the light inside revealed a human skull and pile of bones stripped of all flesh that tumbled out onto the floor. Shocked, I stumbled backwards. The larger fridge emitted a low-pitched gurgle. In my panic, I reversed into one of the couches. As I lost balance, the refrigerator launched a set of small pointed objects, a sharp piece of ice scraped against my right hand as I fell. I dropped to the floor as the rest of the barrage hit the wall behind me.  In the darkness, I couldn't be sure, but it seemed that it had somehow moved closer to me. The gurgling sound started up again. As its volume rose, I sensed a brief window of safety before it unleashed a new volley. Moving quickly, I picked up the valuables I'd taken from the dresser and sprinted towards the entrance, hopping over the pile of bones as I made my way past the refrigerators. As soon as I reached the hallway, I slammed the door shut behind me and raced back to our apartment. What are you so worried about? Asked Alex upon my return. You're the one who looks scared now.  Alex's wide-eyed expression alerted me that something was off about my appearance. I realized that blood dripped from the cut on my hand. Oh, right, I, uh, it's nothing. Just get me the first aid kit, okay? That cut looks bad. How'd you get it? Just get me the kit, okay? Hurry up already. Alex shot me a concerned look before heading to the kitchen closet. I deposited the belongings I'd stolen on a counter and peered through the peephole into the hallway. Shit, I thought, as I noticed the trail of red liquid that led from the staircase to the door of our apartment. The hallway lights flickered as the door to the staircase I'd taken slowly swung open. My fear froze me in place as an approaching form cast a long shadow over the bloody trail I'd left on the carpet. Alex nudged me with the first aid kit, sending me whirling around. Jesus, I called as my heart pounded in my chest. What's wrong? Asked Alex. A loud knock thundered against the door. Don't answer that, I said to Alex. Hello. Raying a familiar, friendly voice. It's just Mr. Marlin, said Alex. I waited, paralyzed, as Alex quickly undid the chain and opened the door. Relief washed over me as we found ourselves facing only our long time neighbor.  He removed his hat as he stepped closer to me. I realized he'd spotted my wound.  I see you're the one responsible for the stain in the hallway. Yeah, yeah, it's just, uh, just a splinter. I stammered as I scan the vacant hallway behind him. I was just about to bandage it. Mr. Marlin helped me dress the wound. Alex maintained a sour, disapproving expression as I concocted a story about nicking my hand on a wooden handrail on the way back from the park. Thankfully, he didn't speak up to contradict me. Or did Mr. Marlin notice the pile of valuables on the counter? After Mr. Marlin left, I felt my rational senses returned to me and realized the absurdity of my paranoia. The refrigerators had just malfunctioned or broken down or something. It's not like they were coming after me for stealing money from them. That would be ridiculous. I didn't get a good look at them anyway. But what about the bones? Did they belong to Mr. Herman or someone else? Were they even real? I needed to tell the police about it, but I knew that if I did, that would only come back to bite me now that I was in possession of stolen goods from the apartment. I decided to stay silent, at least for now. As I set up the mini-fridge in Alex's and my shared room, I realized I still had Alex to worry about. He was clearly angry at me. If he stayed that way, he could very well confess what I'd done to our parents. I needed to get him back on my side and then clean up the trail I'd left behind. Hey, Alex, what do you say we go to Marcos down the street for dinner? You always love it there and it's on me, okay? He brightened up as we devoured the pizza we ordered. When we were done, he looked quizzically at the set of two dollar bills I left on the table. That money was from the apartment we broke into, isn't it? Asked Alex as we headed home. Oh, come on, I retorted. What's it to you? I don't like it, said Alex. I think you should return it. I laughed. Yeah, right. For all we know, nobody even lives there. And this money's been sitting there unused for years. And who cares? It's ours now. Whatever he said, his persistence started to get to me. When we stopped at a convenience store, I began to pay for the snacks I purchased with the money from the apartment. Only I changed my mind at the last moment, instead paying with my own cash from my wallet. At the time, I wasn't sure why I did that. That night, I scrubbed up the blood stains as best I could. In our bedroom, I counted the money I'd stolen. It totaled over fifteen hundred dollars. I remembered Alex's suggestion that I return it. I'd been so excited about keeping it before. But why did Alex's idea hold such a strange appeal to me now? The buzzer rang. It was Mr. Marlin. I seem to have forgotten my key. Would you all mind letting me into the building? Sure, I said, hitting the button for Enter. Was that Mr. Marlin? Asked Alex. Yeah. He left his hat. How about you and I give it back to him when he comes up here? I groaned. Alex was so sanctimonious. But I gave in. Sure, if it makes you happy. We waited by the elevator. When the door opened, Alex held out the hat with a grin. The elevator chimed as its doors opened. Alex, I cried, but it was too late. The compartment of the yellow refrigerator that stood before us burst open. A pinkish tissue emerged, rapidly wrapping around Alex and tugging him inside. I grabbed onto him and pulled him back. The refrigerator let out an intense hissing sound as it shook angrily. The force against Alex grew until it was too much. Alex let out a gargled cry as he flew from my arms and into the refrigerator. Its door slammed shut, and then the elevator doors did the same. No, no, no. I repeated, aghast as the elevator headed upwards. It was all my fault. I ran back to our apartment.  As I passed through our kitchen, the closet door shot open as a large gray form ambushed me. I'm sorry, I screeched as I crashed into a kitchen chair. I fell, then looked up to see the refrigerator leaning over me. It was collapsing as if to crush me. I rolled away as its heavy structure landed on the chair and shattered it into pieces. I hurried to my bedroom, where I threw all the money, jewelry, and coins I'd stolen into a gym bag. The door burst open. The gray fridge, shifting its weight from its front to its back, inched its way in. The yellow fridge now followed. Here, I yelled as I tossed the gym bag towards them. Take it, I only spent a little, almost all that's still here. Please, just give Alex back and leave us alone. The refrigerators ignored the gym bag as they closed in on me. As they cornered me, all my mistakes flashed through my mind. It was my role to set an example for my brother, and all I'd done was bully him and pressure him to help me commit a crime. I'd only taken him out for dinner because it was in my interest to do so. Family is what really mattered, right? I gently lifted the mini-fridge. The refrigerators halted their advance as I held it out to them. Here it is. I'm so sorry. I gulped and took a deep breath. We didn't mean to take your child. I deposited the mini-fridge on the floor and backed slowly away. The refrigerators remained still. My heart beat intensified as I wondered if I'd guessed wrong or worse if I'd guessed right, but done something to hurt their offspring. The yellow refrigerator's compartment opened. My brother rolled out, his body covered in a tattered layer of pink goo. An instant later, the mini-fridge hopped inside. Alex, I yelled. He was cold, but still breathing. He opened his eyes. What? What happened? Behind him, the door to the yellow fridge closed. The pair turned away from us and waddled out of our apartment. I took Alex back the next day. I placed the gym bag I'd stuffed with the jewelry, coins and cash outside the door and proceeded to knock twice. I know you don't care about this other stuff we stole, I said, but we decided to bring it back anyway, okay? We're just gonna leave it here and we won't be bothering you about this again, I promise. Alex and I moved on. I've been nicer to him since. When I'm on the bus home from school, I always look up as we approach our building. Sometimes, for a brief moment, a glimpse in olive-shaded box peering down at me. It's grown a bit in the months that have passed. I usually wave at it. And once, I could have sworn that it shifted excitedly to the left and then to the right. As if to wave back.


Os ydych chi'n ddysgu'n blaenau gan Llyfrgellbarth? Sean. Dni'n golygu. Roedd yng Nghymru gyda'r gweithio ymlaenau yma, mae'r gweithio'n ddysgu'n ddysgu. Rwy'n ddweud ddweud yn y gyrsgwrs, mae'n ddysgu'n ddysgu'n ddysgu'n ddysgu'n ddysgu'n ddysgu'n ddysgu'n ddysgu? Rwy'n ddysgu. Mae'r ddweud o ôl i'n ddweudio'r grwpheidio a chyfnodd gyrbur hwnnw yn fwy fyddion cyfieisiad ddyliadau. Rwy'n ei beth o mathon i ddweudio, ddweudio'n cynyddiol ac mae ni'n ddweud i'r ffordd gyda'r ffordd. Felly, dim rydyn ni'n dechrau i'n gwybod o gai unig iawn. Felly mae'n ddweud i chi'n ddweudio'r ffordd, o'ch ddweudio'r ddweudio'r eich rhyddau i Those records, very strong, they're very good outfit, we know that. Our record needs changing there, we know that. It's been a long time, we're not many wins. In that we're just tough places to go. I don't think we'll be listening to the kind of the noise around it, we're trying not to anyway but there is a lot of noise, rightly so, big gain but it's more about focus to get through that and contrast our performances because I think generally they've been strong ond we are taking on the top side. You've experienced one so far. How much are you looking forward to this one? I must say, from afar, you know the stories, but it's not the same as when you're in it. The focus stays the same. When the whistle blows, you're focusing on the teams, but the build-up, the feel around it, there's no choice but a proper derby. I've played in a few and I've been around a few, but it's certainly the biggest one I know that I've been involved in, but I'll certainly be looking forward to the next one. I know you're quoted as saying it's a game for the team.  So I don't try and jump into that. You know, it doesn't mean I don't challenge myself to care deeply about it. Of course I do about the result, the feel of the performance, the feel around the the Evertonians. Of course I do. I haven't got the depth, so I always reference that because I've always thought it was a strange thing in particular. I'm still relatively new to Everton, you know, as a manager, and I think you earn the right to have that same depth about these games. So I'm learning all the time. But yeah, that's why I mention it's about the people because it means so much. Great to head into it though. Isn't it around the place? What were the risks you did? Yeah, I think we were in decent spirits anyway, but I think it reaffirms to the players and the staff, by the way, the work that staff put in, as diligent as they all are, it reaffirms that when you get it right and you take your chances and you find them real cutting edges in the performance, then I've always said I think we're a decent outfit. I've never lost sight of that or belief in it. Even last season there was a lot of noise around it, but I never lost sight of that. I still think with all the challenges, all the recruitment challenges, we've still got a very, very strong group of players and it's about performing and delivering, but of course inevitably winning. So I was pleased that all came together to get not just a performance, but a very good win on top of very good performance. Does the approach change in... Well, it sometimes does, but it shouldn't really.  You want that edge that I've spoken about many, many times. You want that from any game, but it always adds that extra little bit when it is a game like this, or it always seems to. Not literalised, but it always seems to and it feels like there's that energy from the off. True, well. I know we didn't score a game before, and we know we can't have a total reliance on one player, but it does seem crucial to the way Everton played. Do you see it that way? I don't know about crucial, but we know he's an effective player. We know he's getting back to full fitness and sharpness. I think that's very obvious by the way he's playing. His stats support that as well, his physical stats. And really, I think he's just keeping out on the pitch as many times as possible until he's totally free-flowing because I think he's a very, very good player. I'm absolutely sure of that. Ydrissa Garnagay, is he a bit available? Yeah, he had a knock, unfortunately, that needed settling down. Virtually everyone apart from the longer term, Deli Alley and André. James is on the grass for the first time with us, but he's had one day, so he needs time, obviously after a long period, and out with us. Yeah, a lot of the players have come back fit and well, which we're pleased about on the international side of things. And the other group have worked hard in the meantime. No, it's more a case of the ongoing process, and we're about the process. Obviously I've stepped into the middle of it, so it's certainly not something that involves me as manager, but it sort of distantly does from the fact that I'm manager. So yeah, I'll wait and see what outcome, what it is, and when the timelines are at the minute. I don't know anyone on that. I'm sure there's been people talking about lots of different things. What we can control. I certainly can't control any of that side of the clip. Well, I think we've got some different players all play. I think with all due respect, we had to go with Simsie up front, you know, with Dom, all due respect, as I said. A very good young player, but Dom's a different category. I feel as a player with his experience, and especially now that he's getting fit. So we think that gives us a slightly stronger feel about the team, that is. The feel wise then, it was what I expected. The noise, it's hard to explain the details of it, but my main thing is staying focused, because I don't want to get carried away involved in it, because I don't want the players to. I want them to get involved with the performance. It sounds easy, every manager says that kind of thing, but it's not that easy when it's all the noise and the build up and all that sort of stuff, but the players are in a good place at the moment, so we want that to continue. That's whatever manager wants. You know, it's adding the feel, adding the noise, adding the build up into the tactical plan, the tactical understanding, the nature of performance. That's the blend you want, because it can bring energy, of course. These games bring in energy as well, and you've got to use that energy wisely as a team. I think sometimes it does.  You know, if you look at Liverpool's record, they tend to stick with a basic format, and there are twists and there are tweaks, and most teams do that, I think, when they've got a format they like, and me, likewise, you know, when they've got a format that I think works, it's twisting, tweaking, knowledge of the opposition, but also knowledge of what you can do to affect the game in a very positive manner. So it's finding that, again, it's a work. You know, that's the secret. Again, all these things sound really easy when we're talking about them. They're human beings running around to deliver. There's no messages. It's just an actual fact. It's an ongoing process. So that's it regarding the hearing, the take-up very similar. I mean, I've met them, which I've said to you, it was a casual meeting. All these things take a lot of time. I know that. I don't know the exact timescales on that either, but they take a lot of time in my limited knowledge, but my knowledge from afar at seeing these take-overs. Obviously there is lots being written about it. Is there any sort of destruction to you guys around it? Around the hearing? Yeah, I'm not looking at that. I've certainly haven't heard any voices around the change room speaking about it and around the staff. I remember I was just focused on what we do. In terms of Saturday, do you need to change the set-up somehow? Well, like I was just explaining, I think twists and tweaks, I think more than radical change. We have changed this season. We had 5-4-1 at Villa and delivered a very good performance. We've got a good outcome. We have the variances that we can, I think. That was part of the fact that I spoke bigger picture-wise of getting a more balanced squad. So you can tactically flex and change more. But I must say the last performance was a good one. So the performances around that have been strong as well. So I think it will be more tweaks rather than radical change, but we'll see. That's called depth? Yeah, absolutely. You want as many players fit and well as possible and also as many game fit players as well. So that's the next challenge. A few have got some minutes internationally as well, which is helpful getting everyone to that real game. Game fitness is important. And those details? It invariably does in every game. Most games, I would say. But the concentration and focus in every game, but particularly in these games, I think, when there is that extra added atmosphere and that build up, I think the concentration and focus for all the players is very important. I want some message to the players before the game. Just keep delivering the performances. It's, you know, to the adjustment that I've been searching for since I've been at the club is a higher level of consistency. Both on a weekly basis or bi-weekly having many games you're playing and also during a game. Keep the consistent level of performance. Keep the good habits of what we're trying to achieve and what we do on a weekly basis. And, you know, whatever game you're playing and we want that to be an automatic thing when we push the level to a higher level of consistent performance. Thank you. Hi, Sean. You said the players are in a good place at the moment. Is that simply off the back of the Bournemouth performance and the win, or is it just feeling like it's coming together a bit more? I think three out of four wins gives that extra bit of feeling. I think it was there. I just think it it gives them an enhanced feeling within the group. The one that got away in between as well. I think we made sense and I think the players did. So I think really it's partly the literal thing throughout four wins. And then partly the idea of the players are beginning to find each other's ways of playing and that adaption that they need does take a bit of time sometimes. I think it's continuing to grow. So, yeah, a bit of both I think. You mentioned about having the edge in the Mercy side, Darby. It's easy to have the edge and then sometimes tensions boil over a little bit in these games. How do you make sure the players have the edge but not too much edge? Well, the game's changed. I don't think it used it. It's not as physical now as it was as in I presume in the nature tackling and challenges. Yeah, I think it's more control but you want that in every performance. It's certainly very difficult in football to win games if you haven't got the right amount of players, that's for sure. So part of that in any game is to keep 11 on the pitch. But that's part and parcel of the Darby is that bit of control and focus which I just spoke about. I think that's important. The opposition managers had a lot to say about the 12-30 kick-offs. What is your take on them particularly after an international break? Yeah, I've always been a bit more open minded. The Premier League program gets laid down. It's a challenge. There's no two ways about it. More clubs are involved in all the competitions. It becomes an increased challenge for them, of course. So I don't understand to the manager when they mentioned that. I've had certainly one season burning through the Europa thing and all that. It does get very challenging. But the program is there. We know it early doors. Well, it does change because it's TV but we know it pretty early and I think you just adapt and change. I certainly speak to the players about that. Adapting and changing their routine trying to get that right for maximum performance. James Garner's becoming more and more popular with the Everton fans right now. How much of a role can he play in the Merseyside Derby? Just your general thoughts on his progress so far this season? Yeah, really happy for Jimmy and his progress. When I got in he'd been injured. I knew of him from the season before at Forest. I went down to Forest quite a bit that season. Well, I was having a rest. He was performing there. When I got in he was injured, as I said. To get back to true fitness delivery his adaptability for a young player is very, very pleasing. But I still have always seen him mainly in a central role. I still do. But I do like the flexibility of him. He's a player that can use that wisely and he does and he's been very open to use it for us and he's worked very hard in other positions, sorry. And he's growing into what he is and that's a very good footballer in my opinion. Gold to Carl. I presume by now you've got a very good method of shutting out the outside noise that's been going on in the club. Yeah, I just don't read it or listen to it. That's the easiest thing. Absolutely. Do you have a mechanism so you can work out what you don't need to hear and what you do need to hear? No, it's very difficult because the amount of attention every game gets now, Premier League games or Premier League teams get. This only enhances with Davies. It's very difficult. You can't stop all the messages outside of what we give them of course. The media, social media. So the players have to learn to adapt to it. Good, bad is an indifference. The players have to learn that's part of their careers. It's part of who they are. Managers as well, by the way of course. Staff as well. Everyone connected with it. I know there's a perfect way of dealing with it. You just manage it the best you can. In terms of the off-field stuff which obviously creates the most noise. It has created the most noise. Obviously there's a lot of stuff that goes. There's a lot of reports, a lot of stuff swirling around which sounds true, maybe not true but you put that to one side. Are the things that you think oh I need to know more about that I need to go and ask somebody about that? I can't really think of an example. Most of it's out there. Most of the players if they had a problem with it would come and see me or question me. I don't know. I know what I need to know and that's enough for me. I don't need to add in another level of someone's opinion and opinion on this because I know what I know from inside. It's often irrelevant what someone else is saying from the outside because I actually know what's going on. Any further questions in the open section? Could I just ask you one not completely connected with the game at all but we just spoke to Jack Dowling the first team physical performance coach who's going to run 26 malathins in 26. He is, mad as that is but for incredible cause. He's got to work hard. What does it go hard or go home? I don't know any other rules. He's been pretty quiet about it actually considering what an amazing challenge he is but we are going to be speaking to the players and try to see if we can put under our pockets and make sure that he's looked after. And his brothers are red. Well, yeah well. We'll let him deal with that. It's amazing what he's doing. Thanks for mentioning it. Hi Sean. I just want to say I spoke to Tony Bay last night and he gave it your stamp of approval. Tony? Tony Bellew. Sorry I didn't hear that. I just wanted to say about when you went with Burnley to Amfield and you broke the really long home on being record you had a little bit of a to-and-fro with Jurgen Klopp in the tunnel and some words on the touchline. You expect in a heat affair again this weekend? I don't think, I think I spoke clearly then that every manager should be passionate about what they do. You have to control it ever more so. But I think it's nothing other for me. You know that sort of stuff was commonplace when I was playing, when I was early in my managing career. It just gets blown up now. It was a commonplace thing. Full of respect, go fantastic, well done. That's the reality as I see it.  I've played against many. I don't matter afterwards and chat with them and you crack on. So I've never had a problem with Jurgen Klopp or any other manager. We just both want the best for our teams whatever team that is. It was a different team for me then and every manager should do. There's nothing wrong with showing a bit of passion and a bit of commitment to the cause and it didn't go too far and it probably never will do me.


So we see snow packs accumulate over the winter and hit their peak in the early spring and then the snow starts to melt off. When we have higher snow packs we tend to expect to get more volume of water coming off and that can lead to increased flood risk. The weather or not we actually see flooding really is dependent on the weather that we get during the snow melt period through the spring and into the summer. So we typically see the peak of the snow pack around about the middle of April where it transitions from accumulating snow to melting snow. So it's a little bit of time to see how much snow will actually end up with going into the snow melt season. Where we're sitting right now is near normal out through most of the province. That's slightly above in some areas. And in areas of the northern B.C. or on the upper Fraser or N'Chaco, Skeena basins we do have higher than normal snow pack and at some locations record snow pack for this time of year. Now whether that translates into flooding for the spring is really going to depend on what we get for weather during the snow melt season. So those areas in particular will be watching closely.


First-time chat. We'll read the first-time chat. Airrunner 85. I often weather the scenario, wonder the scenarios happening, because humanity is collectively going through a shift. We have been running on autopilot for too long. We sometimes need a shock to the system to put things into perspective again. I genuinely believe a lot of heart, truth and passion will be the answer as opposed to violence. I suppose you could say we need a peaceful revolution. We need a 100%. I agree with Airrunner 85. We need a peaceful revolution. We need a revolution of transparency and accountability. That's what we need. What WikiLeaks and Julian Assange have been trying to introduce into our societies, right? Which is why these centralized powers with their censorship and council culture. Julian Assange and WikiLeaks were the first people that went they went after, right? Canceling PayPal, cancelling credit cards, cancelling their bank accounts and stuff like this, right? Then they did this over 10 years ago, okay? So Julian Assange and WikiLeaks were, in recent history, were the first people, organization, first place that they brought about this council culture and the censorship, right? And how did they do it? Well, they started propaganda, corporate propaganda, started printing articles. Julian Assange abuses his cat.  And then you talk to people, you know, you rush a gate, Julian Assange, right? And you talk to people and you say, well, this is wrong. What they're doing to WikiLeaks and Julian Assange, WikiLeaks, the only publishing company in history that has never had to retract any stories, right? Everything they've released, published, fact, truth, undeniable, right? Like a website, a news agency that is 100%, everything that they release is fact, undeniable, right?  And how do they get people to believe that this is the right thing to do? They take the head of that news agency, Julian Assange, and they demonize him, right? Crucifying Julian Assange, the murder of Christ, what Wilhelm Reich wrote about, right?  I said, Julian Assange is the new Jesus Christ, right? Because he's being crucified for telling the truth. He's a truth teller being crucified. Some people, I released a video on censor too, and some people are like, oh my God, you just lost it. I'm like, you guys are idiots, right? Because you don't understand the reference, right? There's a book written by Wilhelm Reich called The Murder of Christ, right? Which is basically the thesis of it is that centralized power crucifies truth tellers, right? It's such an important book and what the centralized power did to Wilhelm Reich, right? And Wilhelm Reich is the only author that I know that both Nazi Germany and the US government banned and burned his books, right? So the only author that I am aware of were Nazi Germany and the US government banned and burned his books, right? Wrote a book called The Murder of Christ, which is about the centralized state crucifying truth tellers. It's such an important book and he is such an important figure in history that Robert Anton Wilson wrote a musical, a book, okay? It's a book and it's been turned into a musical called Wilhelm Reich in Hell, right? About how centralized governments crucified Wilhelm Reich, right? And you can take that and put it all together and apply it to Julian Assange, which is why Julian Assange is the perfect representation of crucifying a truth teller, the murderer of Christ, right? So that's where we are right now. That's where we are right now. So we need to make sure we get transparency and accountability of capital as power to humanity into our societies, otherwise we are doomed, right? Otherwise we are doomed.


We have seen yesterday that if V is a finite dimensional vector space and T from V to W is an isomorphism then W is also finite dimensional in fact we have dimension of W equals dimension of V this result we had seen yesterday okay. Let us look at the converse of this result that is if I have two finite dimensional vector spaces whose dimensions are the same are they isomorphism okay the answer is yes that is what I will do today the proof of this result and also some consequences of the rank nullity dimension theorem there is a little unfinished business okay so this is what we will first prove today I have V and W finite dimensional vector spaces with the same dimension then V is isomorphic to W that is what we will prove now you will see that this is the proof is natural let us take two bases so proof of this theorem let us take U 1, U 2, etc U n to be a basis this is a basis of V I know that dimension of W is also n and so I will enumerate a basis for the space W be a basis of W the numbers are the same the number of elements in these two bases this number is the same that is because dimension V is dimension W now what we know is that there is a linear transformation that maps each U i to the corresponding W i and this linear transformation unique okay the only thing that we need to do is to verify that this linear transformation is invertible injective and surjective see we want to show V is isomorphic to W so we must show that this T is invertible okay so let us define the mapping T from V into W by T of U i equals W i we know that there is one such linear transformation we also know that this transformation is unique we must show that this transformation is invertible from the rank nullity dimension theorem it is enough if you show it is injective the dimensions are the same so it must be surjective also so let us show that it is injective to show that it is injective we will show that null space of T is single term 0 we had seen that this is an equivalent condition so let us look at an arbitrary element in the null space of T then T x equal to 0 T x equal to 0 and this x belongs to V and V has U 1 U 2 etc U n as a basis so this is T of some linear combination alpha 1 U 1 plus alpha 2 U 2 etc alpha n U n T is linear alpha 1 T of U 1 etc plus alpha n T of U n but T of U 1 is W 1 etc T of U n is W n so this is alpha 1 W 1 etc alpha n W n so I have this linear combination alpha 1 W 1 etc alpha n W n equal to 0 I also know that the vectors W 1 etc W n they form a basis for W so in particular they are independent so it means alpha 1 equals alpha 2 equals alpha n equals 0 but what is x? x is alpha 1 U 1 etc alpha n U n so x is the 0 vector the definition of x is given here this is x and so T x equal to 0 in place x equal to 0 T is a linear transformation so T is injective where angle tree dimension theorem T is surjective so T is invertible so T is an isomorphism okay so T is an isomorphism hence V is isomorphic to W okay so the dimensions coincide then they must be isomorphic vector spaces there is an easy corollary to this result let V be a real vector space of dimension n let V be a real vector space of dimension n then V is isomorphic to R n then V is isomorphic to R n we can similarly show that V is a complex vector space of dimension n then V is isomorphic to C n okay remember the The dimension of R n over R is n that is what I mean here real vector space R n is the vector space over R look at the vector space C n, C n over C also has dimension n but C n over R that is also a vector space that has dimension to n because any complex number is an ordered pair of real numbers okay to represent a complex number you need two real numbers. If it is a complex vector space of dimension n then it is isomorphic to C n alright if you want to write it as R n then it is R 2 n that you need to write okay. So this is to summarize about isomorphisms between vector spaces as I said I want to go back to this rank nullity dimension theorem look at some consequences okay. Please recall this result that you must have learnt in when you studied functions suppose x is a finite set then we know that a function f from x to itself you know that a function from x to itself is this function is injective this function is injective 1 1 if and only if f is surjective if and only if f is bijective okay I hope you have seen this result over finite sets over infinite sets this is not true over finite sets a function is injective if and only if it is surjective if and only if it is bijective. So again over finite sets it is enough if you verify that it is either surjective or injective then it will follow that it is bijective it is invertible a similar result holds as a consequence of the rank nullity dimension theorem for a linear transformation over finite dimensional vector spaces. So this is a really particular case of the rank nullity dimension theorem which means I will not prove this result but I want you to compare the following result with the result that I have written down just now okay this theorem is a consequence of rank nullity dimension theorem and the proof is left as an exercise. Get T from V to V be linear and V be finite dimension T is linear V is finite dimension T is an operator on V T is a linear transformation from V to itself that is an operator then the following are equivalent in the following statements on T are equivalent first statement is T is injective second statement is T is surjective that statement for instance I could include null space of T equals single term 0 I could include one more statement range of T is the whole of V but these are equivalent statements easy consequence of the rank nullity dimension theorem for instance look at A implies B or A if and only if B T is injective if and only if null space of T is single term 0 which from the rank nullity dimension theorem tells us that rank of T is N but rank of T is a dimension of the range space of T it is a subspace of V V has dimension N this subspace has dimension N so this subspace must be equal to the entire V and so range of T equals V so T is surjective etc okay so there is nothing new in this result it is only a particular case of rank nullity dimension theorem where instead of W I have taken V instead of W I have taken V and this also allows us to compare with the result that I have stated here for a function over finite sets injectivity is equivalent to surjectivity equivalent to bijectivity but what happens in the infinite dimensional case in the infinite dimensional case this result is not true okay that is the reason why there is this restriction so let us look at an example I want to give an example of a linear operator say which is surjective but not injective so look at the following consider V as the vector space the real vector space of all polynomials the vector space of all polynomials whose coefficients are real numbers defined over the variable T, T is a real variable now this is an infinite dimensional vector space for instance this is a subspace of C 0 1 the space of continuous functions which we have shown is infinite dimension of course being a subspace of an infinite dimensional space does not mean this must also be infinite dimensionals but then we know that 1 T T square etc they are linearly independent so this is infinite dimensional V is infinite dimensional the same idea that we use to prove C 0 1 is infinite dimensional applies here let us define the differentiation operator define D from V to V any polynomial is infinitely many times differentiable so define D from V to V by D F of T to be what is the form of F depending on that D of T will be defined so let me say D F of T where F of T now F is in V so F is a polynomial F of T is let us say alpha 0 plus alpha 1 T etc plus alpha n T to the n then D F T is defined as alpha 1 plus the next term is alpha 2 T square that is 2 alpha 2 T plus etc plus n alpha n T to the n minus 1 this is the definition of D this is so called differentiation operator takes a polynomial computes its derivative that is the operator D then since differentiation operator is linear transformation this D is linear okay you can apply it to each term this D is linear let me also define by the way is D injective what is the null space of D null space of D is set of all constants constant polynomials okay so D is not injective D is not injective okay so let us now define another operator this is the so called indefinite integral operator I will do that so I am going to define another operator I will call that T from V to V is defined by let us take okay T G of T what is the form of G if G of T is let us say beta 0 plus beta 1 T etc beta L T to the L then I will do this so called indefinite integration that is integral of this which is beta 0 T plus beta 1 T square by 2 etc plus beta L T to the L plus 1 by L plus 1 so this is what I will define for the operator T the so called indefinite integral okay this is like integral 0 to T G of T DT this is again linear this T is linear okay what about range of T okay what about null space of T T is injective okay T is injective let us look at the relationship between D and T look at the relationship between D and T what about T D what do you expect T D to be you first differentiate and integrate okay let us start with D T what is D T D T is identity okay please check this D T is identity what about T D T D for example for constants if you apply you will see that it is 0 so T D cannot be identity T D cannot be identity so what is the moral of the story the moral of the story is see this D is not injective but it has a right inverse D is not injective okay the operator D that we have defined is not injective D has a right inverse from this it can be shown that T is D is surjective I am going to leave this as an exercise from this it can be shown that D is surjective what about T T is injective but you can verify that T is not surjective because of this okay that is also an exercise for you T is not surjective this T is injective let me say this right away implies T is not surjective okay so I have given an example of an operator over an infinite dimensional space one operator which is injective but not surjective the other operator which is surjective but not injective okay differentiation operator is surjective but not injective the indefinite integral operator is injective but not surjective okay so please check these calculations and so this result is not true for infinite dimensional spaces there are other consequences in particular let me give this little exercise using rank nullity dimension theorem one could solve this problem let T from V to V be linear with V finite dimensional suppose that null space of T equals range of T suppose that null space of T equals range space of T V is finite dimensional what is the conclusion that you could draw on the dimension of V it is even then dimension of V is even it is an even positive integral okay now that is an easy consequence of the rank nullity dimension theorem but what I want you to do is to give an example of such a linear transformation give an example of one such transformation T okay now in order to sort out this second problem I will give one hint T is an operator that satisfies the condition null space of T is range of T okay then first try to show that T square equal to 0 null space of T equals range of T so that this implies T square is 0 T square is a 0 operator construct an operator that satisfies this condition to construct an operator that satisfies this condition you construct a 2 by 2 for example let us construct T over R 2 T from R 2 to R 2 remember the spaces must be the same otherwise null space of T and range of T null space of T is a subspace of V range of T is a subspace of W so when I talk about equality I can do that only when the domain is equal to the codomain take T from R 2 to R 2 you want to construct T such that T square is 0 start with the matrix A that satisfies the condition A square equal to 0 use that matrix A and then construct the linear transformation T X equals A X so that I am going to leave you leave with you as an exercise but what you can try is the converse true that is a related question if T square equal to 0 then does it follow that range of T equal to null space of T that is another question so construct an example T that satisfies this verify if the converse is true okay. One final application of the rank penalty dimension theorem is to show that the row rank of a matrix is the column rank of that matrix this statement was made long time ago when we discussed elementary row operations row equivalence etc so we would like to prove the following theorem we would like to show that the row rank of A equals the column rank of A before that what is the row rank what is the column rank so before I prove so let us recall these definitions the row rank of a matrix of a matrix is defined to be the dimension of the row space of A the row rank is a dimension of the row space of A the column rank is a dimension of the column space of A okay as we have observed the row rank the row space rather is a subspace of R n the column space is a subspace of R m is that clear each row has n coordinates each column has m coordinates so the column space is a subspace of R m and the row space is a subspace of R n so it is an interesting and an important result that these spaces may lie in different these subspaces may lie in different spaces but their ranks are the same their dimensions are the same that is another consequence the rank nullity dimension theorem but we need a little work before settling this identity. So let us recall what we did for row reduced echelon matrices let me first prove this result let us start with two matrices of the same order which are related by the equation two matrices A and B related by this equation B equals P times A where P is a square matrix of order m P is a square matrix of order m so this is m cross m m cross n the product is m cross n B is m cross n what I want to do is to conclude that if B is equal to P A then the row space of B is contained in the row space of A I want to conclude the row space of B is contained in the row space of A to prove this I will invoke what we had seen earlier that anything so I am going towards the proof of this look at A x for any x A is n m cross n look at A x for any x this is in the column space of A this we have seen before in particular I wrote this A x as okay I want to conclude that A x is in the column space of A why is that so you can see that if I write A as A 1 A 2 etc A n these are the n columns of A with A 1 A 2 etc A n being the columns of A if A is equal to this then we can verify that A x is x 1 A 1 plus x 2 A 2 etc plus x n A n where I have used x is the column vector x 1 x 2 etc x n okay now this we have observed before see what you have on the right is linear combination of the columns of A what I am saying is that this is precisely A x where A is a matrix that we started with and x is this column vector okay that is to reinforce A x is in the column space of A okay let us go back to this equation B equal to P times A now B equals P times A after taking transposes using the fact that transpose satisfies a reverse order law this gives me B transpose as A transpose P transpose B transpose is A transpose P transpose let me call this as A transpose Q so Q is B transpose Q is P transpose let me write Q see P is m cross m so Q is also m cross m Q has m columns m rows so let me write Q as Q 1 Q 2 etc Q m again these are the columns of Q just as how I wrote down the columns A 1 etc A n for A these are the columns for of Q let me write down the columns of B transpose I will call that B 1 B 2 etc B transpose is B 1 B 2 etc B is of order m cross n so there are n columns B transpose will have m columns so B 1 B 2 etc B m B is m by n so B transpose is n by m in particular number of columns of B transpose is m the columns of B transpose I am denoting them by B 1 B 2 etc B m okay please be clear about the notation here I am using A 1 etc A n for A Q 1 etc Q m for Q but B 1 etc B m for B transpose okay for simplicity okay now look at this equation once again B transpose is A transpose Q B transpose equals A transpose Q gives me B 1 B 2 etc B m equals A transpose Q 1 Q 2 etc Q m and this is something we have seen before you can push the matrix inside this is A transpose Q 1 A transpose Q 2 etc A transpose Q m okay that is A into Q 1 Q 2 etc Q n A transpose into Q 1 Q 2 then this matrix can be pushed inside this can be verified by matrix multiplication I remember having told you this before in particular look at B 1 B 1 is the first column of B transpose B 1 is in the column space of B transpose B 1 is in the column space of B transpose then B 1 transpose is in the rows okay then B 1 is in the row space of B B 1 is in the row space of B column space of B transpose row space of B see in fact you will observe that B 1 is the first column of B transpose so B 1 is the first row of B in particular it is in the row space of B okay look at what you have on the other side A transpose B but B 1 is A transpose Q 1 okay look at A transpose Q 1 in its own right a matrix times a vector that is a column vector of A transpose is it clear that A transpose Q 1 is let me say in the let me say it is the first column of let me rewrite see I want to make use of this fact that A x is in the column space of A A transpose Q 1 is in the column space of A transpose Q 1 is in the column space of A transpose so it is in the row space of A A transpose Q 1 is in the row space of A it is in the column space of A transpose so it is in the row space of A it is a linear combination the columns of A transpose which is a linear combination of the rows of A. So what have we proved? On the one hand it is B1 is in the row space of B, on the other hand it is in the row space of A. So if B is equal to PA we have shown that the rows of B are linear combinations of the rows of A that is the first statement okay let me write I want to prove this statement what we first observed is that if B equals PA then the row space of A sorry the row space of B is contained in the row space of A if B is equal to PA then the row space of B is contained in the row space of A that is what we have proved just now. Because P is invertible then I can pre-multiply by P inverse if P is invertible by pre-multiply by P inverse I get I write A as P inverse B okay so what I have done is you can call this S times B I have written A as S times B apply the same idea if A is S times B then the row space of A is contained in the row space of B the argument that we have given just now can be applied here in this case so this implies row space of B sorry row space of A is contained in row space of B okay if this matrix P is invertible then I get this result which means if A equals if B equals PA with P invertible then the row spaces of A and B are the same in particular in particular row equivalent matrices have the same row space because of A and B are row equivalent then A can be written as P times B where P is a product of elementary matrices so row equivalent matrices have the same row space if A is row equivalent to B then the row space of A equals the row space of B that is because A can be written as P times B for some invertible matrix P look at the row okay now I want to determine a basis for the row space of A I want to determine a basis for the row space of A look at the row reduced echelon form R of the matrix A R is a row reduced echelon matrix row equivalent to A okay as before R is a row reduced echelon matrix row equivalent to A then the first let us take R to be the number of non-zero rows of R small R equals the number of non-zero rows of capital R okay okay what is the dimension of the row space of A can you see it is R for the following reason what is the rows what is the dimension of the what is the row space of R capital R row space of R is the subspace consisting of the linear combination of the rows of A now R first R zeros first R rows are non-zero the rest N minus R are zero so the N minus R zero rows do not contribute anything to the row space it is only the contribution that comes from the first R non-zero rows of capital R so the row space of capital R is spanned by these R vectors are these R vectors linearly independent we need to verify that but that is easy an argument similar to the standard basis can be given okay instead of just mentioning it let me write down the form of R and it will be clear from the first R non-zero rows that these non-zero rows are linearly independent in fact remember this is how we used to write we have certain zeros then there is a one and some entries here then some zeros here one appears to the right of this some other entries etc finally I have lots of zeros here this and then I have the zero rows that is I have this corresponds to the N minus R zero rows I am writing down R this is my matrix R these are then R non-zero rows and it is clear that these behave somewhat like the standard basis vectors so you take a linear combination alpha one times this vector plus alpha two times this vector etc alpha R times this vector equate that to zero then right away the first equation gives you alpha one zero second equation gives you alpha two zero they do not lie along the same column they are in different columns that is if this is in C one this is in C two etc this is in C R then we know C one less than C two less than C three etc less than C R so it is clear that these R non-zero rows the first R non-zero rows of R are independent and that they span the row space of R and so the dimension of the row space of A is equal to R dimension of row space of A equals R where R is the number of non-zero rows of the row reduced echelon form of A that is row rank of A that is equal to R row rank of A is equal to R we need to show that the column rank of A is also R okay for the column rank we need to do a little more so let me see how much I can cover now for the column rank I want to start all over again consider A in R m cross n that I started with earlier look at the system A x equal to 0 collect all the solutions call that as S, S is the solution set of the homogeneous system of equations A x equal to 0 okay remember that you can call this as the kernel of A only thing is we have defined kernel of a linear transformation what is the kernel of a matrix through this matrix you can define a linear transformation and then the kernel of that linear transformation is a kernel of this matrix okay but in any case what I want to say is this S is a subspace this is a subspace of R n set of all x in R n so the subspace of R n okay I would like to calculate the dimension of the subspace it cannot exceed n I know I want to calculate the dimension of the subspace I want to conclude that the dimension of the subspace is n minus R then it will follow that the column rank is R which is the same as the row rank of A okay so I want to conclude the dimension of the subspace is n minus R to calculate the dimension I also observe that if capital R is a row reduced echelon form of A then the solution set of R x equal to 0 and A x equal to 0 are the same I will use this to calculate the dimension of S I will use the row reduced echelon form R to calculate the dimension of S let us go back and write down these equations and analyze this once again let me in this case use this notation J is the subset of all indices 1, 2, 3, etc n which do not have C 1, C 2, etc difference C 1, C 2, etc C R C 1 is the column in which the leading nonzero entry of the first row appears C 2 is the column in which the leading nonzero entry of the second row appears etc okay I remove these indices from the indices 1, 2, 3, etc n then I can write down the so I can expand this we have done this before but I will do it using this notation you will see it is the same as before X C 1, X C 2, etc X C R correspond to those variables out of X 1, X 2, etc X n that correspond to these columns okay then X C 1 plus we write summation J equals 1 to n minus R but this time it is summation J over J let me say I have C 1 no C 1 I cannot use let us say alpha 1 J X J equals 0, etc X C R plus summation J element of J alpha R J X J equal to 0 okay probably I will stop here and then continue next time okay remember that I want to show that the dimension of this subspaces n minus R that would show that the column space of A is R dimensional which means the column rank of A is R the same as the row rank of A.