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cover of episode Friday June 13, 2025 - Israel strikes Iran.  What's next?

Friday June 13, 2025 - Israel strikes Iran. What's next?

2025/6/13
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Best Stocks Now with Bill Gunderson

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Bill Gundersen: 以色列对伊朗的袭击导致市场出现波动,特别是石油和黄金价格的上涨。我认为伊朗的防御能力薄弱,可能会寻求俄罗斯的支持,这可能导致中东地区出现新的不稳定因素。虽然短期内油价可能上涨,但我认为长期来看,全球经济增长不足以支撑过高的油价。此外,我认为特朗普政府可能会采取措施来控制油价。我个人认为,如果伊朗拥有核武器,他们很可能会对以色列使用。因此,以色列的行动是可以理解的。作为一名市场分析师,我始终关注地缘政治风险对市场的影响,并建议投资者配置黄金等避险资产。 Barry Kite: 技术分析在突发新闻发生前具有一定的预测作用,但在突发事件发生后,需要谨慎对待图表分析。我认为,在评估市场风险时,需要综合考虑技术分析、基本面分析和地缘政治因素。

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The show begins by discussing the immediate market reaction to the Israeli attack on Iran. The impact on oil and gold prices is highlighted, along with analysis of potential geopolitical consequences and the market's overall response.
  • Israel attacked Iran
  • Oil prices hit $73 a barrel
  • Gold hit a new high
  • Market initially shrugged off the attack but showed some selling off in after-hours trading

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He's been seen on CNBC, the Fox News Channel, and the Fox Business Channel. His articles can be found on MarketWatch, Seeking Alpha, TheStreet.com, and many other places. He's the author of the weekly Best Stocks Now newsletter and the inventor of the Best Stocks Now app. He's president of Gundersen Capital Management. Here is professional money manager, Bill Gundersen.

And welcome to the Friday the 13th edition of the Best Stocks Now show with professional money manager Bill Gunderson, president of Gunderson Capital Management. I'm here with Barry Kite, our chartered financial analyst and soon to be a chart. What's it going to be? Yeah, it's chartered market technicians. Think CFA being the fundamental accounting side of the equation. And then, of course, CFA.

The market technician being the chart side. How are we going to fit all that on his business card? I don't know. I don't know how it's going to work. Good news is business cards are kind of going away. Yes. He's fine, right? And the good news is the market could be a lot worse here this morning than it is. I mean, we're not even down like less than a half a percent overall. The market is down. The Dow is down 483%.

That's 1.1%, 42,483 after the attack last night as we were retiring for the evening, Israel against Iran. The NASDAQ is down 163. That's 80 basis points. That puts the NASDAQ at 16,499. The S&P is down 41%.

68 basis points. The big mover today, obviously, would be oil. Oil is hitting $73 a barrel. Oil had it right about the attack, and so did gold. Gold is hitting a new high today at $34.34. So welcome to today's Best Stocks Now show with professional money manager Bill Gunderson, president of Gunderson Capital Management Group.

And I'm here with Barry Kite, our chartered financial analyst. And I would just tell Barry now that he's going to be a technical analyst, certified, certified technical analyst, things show up in the charts first. And, you know, yesterday I was going through my charts to prepare the show and bang, there it was, oil. Something's up.

And, of course, Trump's going to the Rockefeller Center and being interviewed. And he says, you know, believe me, Iran is not going to get a nuclear weapon. He knew something, obviously. Then yesterday morning he said, well, you know, there could be an attack on Iran. But it's not imminent. Obviously, he was being a decoy.

because I'm sure he knew fully well what was going to happen last night. And Israel, I don't know what the extent of the damage is to Iran's nuclear weapons,

enrichment process which they refused to give up in fact they're even doubling down today you know the market knows that Iran has no defense against Russia or against Israel's air power and Israel has all kinds of defense against Iran's air power which is mostly drones and cruise missiles that can't penetrate the Iron Dome

So it just seems to me, this is just one man's opinion, that Iran is going to turn to Russia. I think that's what's going to happen. I think Russia would love to have Iran's oil fields as part of the deal. And I think Iran would love to have Russia backing them up, big brother, you know, with their nuclear arsenal. So that's what I worry about. As a market analyst, I'm the chief market worrier, basically.

Barry, is there a designation for that? It's called, I got my T-U-M-S, Tums. But you have to weigh as a risk. I heard Besson saying it. Besson said, I was always very good as a risk manager.

And you have to be a risk analyst and a risk manager in weighing all of the what-ifs. I see that as a very likely scenario. And then you've got a whole new ballgame in the Middle East. So anyways, we'll see what happens. In the meantime, the market is basically shrugging it off, even though it was...

It was selling off wildly last night in the after hours. Some are saying... When you handle crude oil shot, I mean, up 7%. That it seems... I heard people talking today about potentially $100 oil. I mean, the way I look at it at this point, Iran's ability to export oil was already limited. Even throw Russia in there, theirs is limited too. So...

short of going through certain trading channels. I think at some point you kind of see this as a short-term shock to oil because, as you mentioned yesterday, we don't have really the world growth forecast to kind of justify a $100 barrel of oil. And that's where the technical charts are no help. When you have breaking news-driven charts,

Now, before breaking news, okay, when oil is moving before breaking news, like, believe it or not, I wrote in my newsletter in 2020, I said, why are the protective clothing and glove stocks flying off the shelf in January of 2020 before COVID?

Before, technical analysis is a predictor. Once it happens, now this chart to 73, you can say, well, that's a breakout for oil. It's going to 100. But it's a breakout on an extraordinary circumstance, which doesn't hold as much weight as just, like you say, steady growth in the world. So you have to take charts with a grain of salt. They have their limitations. Therein lies H.I.,

I like AI. I like charts, but I like a little bit of reasoning and logic and AI to add to that mix. So, yes, oil is up big today. It's at $73.63. I mean, oil is up 25% in the last week or so. It's going to show up with the gas pump probably temporarily.

But I see some of these Wall Street analysts making big calls that I think are wrong, as usual, calling for $120 oil. That's J.P. Morgan. I don't know. I don't have a lot of faith in J.P. Morgan's macro forecast.

But he seems to be very, very pessimistic most of the time. And calling for 100, why wouldn't I just be all over BP and APA and Chevron if oil is going to over $100? I don't think Trump would allow that. He would open up the spigots of the U.S. here.

and unleash our oil. So I don't see the reasoning there with their forecast. Now, despite all the noise in the world, the Dow was up a little bit yesterday. The NASDAQ was up a little bit yesterday. The 10-year knew something was up because there was a massive flight to safety, a very active auction that drove the 10-year down to 4.37%.

And if you were going to lock in a loan, yesterday was a good day to do it. Gold was up 1.9% yesterday. Gold seemed to know what was up. The gold market's new. The oil market's new. And actually, we ended a little bit higher. We had a very strong treasury auction. Hey, I saw somebody. I think this guy's probably right. He's a hedge fund manager. I can't remember who it was.

He thinks Bessent will be the next Fed chairman. I can see that, man. I really can see that. I certainly could. I'm just trying to think, you know, what job is, what's a better job? Where can we use his talents the most? Which one would he like more, right? I think, certainly I think as his current role, you know, being a, you know, kind of a spokesman for the administration, particularly when it comes to the finance world, right?

Then you put him into a role as the Fed chairman, right? Well, you take some of the, I don't know, I think, rah-rah side of the way where you're almost got to be a little bit more closer to the vest, I think. Yeah, I see the Fed chairman as maybe the second most powerful man in the world. Right behind the president, maybe the VP. Then that Fed chairman, he's right in there as far as the world goes. Now,

Israel took out all of Iran's leading military. They knew where they were. They knew their address. They knew where they hung out at that time of night or day or whatever it was in Iran at the time. They took them out.

The Ayatollah, they did not get the Ayatollah, who's really the rubber stamp behind all of this. They did take the guy out in Lebanon. The Republican Guard. Yeah, they took all the leadership out. And, you know, look, I mean...

And the scientist community, too. I mean, they've done that before. They've taken out other scientists over the years. But, yeah, I mean, not only are they attacking structures, right? They also saw where you're attacking leadership. And on the other side, I saw something where they actually had drones that they already had inside the territory of Iran that actually kind of came out and took out some of the air defense systems prior to it.

Similar to the Ukraine deal, right, where they had some of those drones. Yeah, they had intelligence. Well, being the little guy in a big, big neighborhood like Israel is, they've had to come up with the weapons like David versus the Goliaths of the Middle East there. Iran launches over 100 drones at Israel in retaliatory attack. I have not heard of any causing any damage yet, and they're in.

you know, lies the conundrum for Iran. If they want to inflict damage on Israel, they're going to have to go to a higher power like Russia, in my opinion, or give up the quest of destroying Iran of Israel. And I don't know that they can do that. We'll be right back. We'll be right back.

And welcome back here to the second quarter of today's Best Stocks Now show. Well, obviously, President Trump wants Iran to make a deal.

They're not going to make a deal. That's my prediction. Why would they make a deal with us?

When they can make a deal with Russia or China, who shares a little bit more of their animosity, they're not going to make a deal with us. And they pretty much snubbed Trump already and doubled down. You know, one of the papers I look at the headlines of when there's trouble, the Tehran Times. Read the Tehran Times. Just the headlines, T-E-R-A-N.

T-E-H-R-A-N, like the Capital City Times. And they're basically saying, given Trump the middle finger, we're not going to give up our uranium enrichment. And, of course, they claim 100% we're doing it for peaceful purposes. Where have I heard that before? We're doing it for peace. We need energy over here. We don't have anything other than the biggest oil reserves in the world. Yeah, well, Trump's a...

was pretty ominous. I think he said, make a deal because the next set of attacks are going to be worse. And we still don't know the extent of these attacks. I mean, just how badly they have set Iran back. You know, I was reading that Iran was just days away from having enough uranium and risk uranium for 15 nuclear weapons. And that's why Iran

Israel took the action that they did. And I would also just say, ask yourself this question. If Iran had a nuclear weapon, what are the chances that they would fire one at Israel? 100%. 100%, in my opinion. Because they've thrown everything at Israel that they possibly can and nothing has hit yet.

And now they've got to, you know, that's their only way to accomplish their purpose. And they're going to be stubborn and keep doing what they're doing. Oil prices spike in the Israel-Iran conflict. This is J.P. Morgan, an attack on Iran. This was yesterday before the attack happened. So J.P. Morgan...

Let's see, we need an acronym for JP was wrong again. JPWRA was wrong again. I just don't see it. They said an attack would push oil to $120 per barrel and inflation to 5%. That's coming from their macro analyst, Natasha Knieva. I don't know if she's in Geneva. She wrote in a note from the bank's global commodities research team.

I don't know how some people get their jobs, Barry, in these very important jobs. She's the global research team on commodities. Bitcoin tumbles as Israel strikes Iran. I find that interesting a little bit.

You know, is gold where they go to seek safety? Well, Bitcoin was thought to be that asset, right? Well, and Bitcoin's very, you know, correlation-wise, negatively correlated to the dollar. So I didn't look and see what the dollar did yesterday, but probably a fight to safety, right? A fight to treasuries. That's going to increase the demand for the dollar, right? So that's one piece of it. And then liquidity, you know, liquidity, more liquidity.

Bitcoin's correlated positively to that. And these instances, right, a lot of that liquidity gets sapped up because people are buying regular gold or treasuries. Yes, and speaking of gold, we continue as new clients come to us. I almost immediately or within a few weeks have their position in a couple of gold stocks that we own and the commodity itself through an ETF. Okay.

And it has proven to be the very best hedge against world turmoil and against turmoil here in the United States. You know, you watch the nightly news and you see the rocks and the bottles and the fires and the burning of cars in Los Angeles and in Seattle and in Colorado and whatnot and New York, etc.,

We have some turmoil here in the U.S. also, and gold has been the best hedge. It's hit a new all-time high, 3440. It's been very good to us this year when I have never really held gold unless there's some kind of extreme circumstance in the world.

Okay, now we'll get back to the markets here. I mean, obviously the markets are affected by this. A big question I had, and I got the answer today, was what about Apple? Are they subject to the 30% tariff on goods coming in from China? The answer is yes. Currently, iPhones manufactured in China are subject to a 30% tariff. That's why we don't own any Apple products.

Not only have they lost their edge in innovation and creativity, they chose to manufacture those iPhones in China with Foxconn. And now they're fleeing as fast as they can to manufacture them in India, which has only a 10% tariff. But you know how that 30% breaks down? 10% is a baseline tariff.

20% is a fentanyl tariff. Now, I would believe that that one might be movable, right? I mean, if China were to prove that we've done everything we can possibly do to not be involved at all in the whole fentanyl smuggling and everything, you would think that 20% might come off. So that gives me hope that we're not stuck at 30%.

you know, for the next, until the end of the year or the next several years or what else, because 30 is disruptive to a lot of little companies here in America and big companies like Home Depot and Lowe's and Walmart, Target, et cetera. So maybe we have some wiggle room in that 20% fentanyl tariff. But in the meantime, you're paying full boat. And I don't know, you'd have to go to an Apple store today, right?

and say, hey, you know, I want to trade in my phone. I want that new 18 or wherever they're at these days. 30% is $300 or more on an Apple phone, whereas if it's made in India, it's $100 or more. So Foxconn ships 90% of India-made Apple iPhones to the U.S.,

They basically cleaned out the inventory and they're ramping up production in India. Foxconn has got their plant humming over there in India. And in the meantime, China is losing out on producing those iPhones. Okay, Tesla. Well, he's got an upgraded Model S and Model X with a $5,000 price hike.

And I just see it as, you know, BYD now has a car in the UK under $20,000. With the price hike, the Model X all-wheel drive is $89,990. The high-performance plaid version is now $104,990.

The Model S all-wheel drive is $84,990, and the Plaid is $99,990. It seems to me he needs to come up with a cheap version, stripped-down version of the Tesla for the common person out there that can't afford $99,900 for a Plaid version of the S Tesla. We'll be right back.

This is Bill Gunderson. Thank you for tuning in to today's Best Stocks Now, Best Inverse Funds Now show. I put several hours of research in during the wee hours of the morning each day to bring you the very best cutting-edge stories that I can. To get two free weeks of my newsletter, go to GundersonCapital.com. To talk to us about our fee-based only money management services, call us at 855-611-BEST. Now, back to the second half of the show. Music

And welcome back here to the second half of today's Best Docs Now show. I do see that Russia has condemned Israel's actions, so...

We know that Russia's been buying their drones from Iran that they are attacking Ukraine with. So there is a buddy-buddy kind of thing there already. So we'll just have to see where that all plays out. And, you know, I'm sure the market is looking at all the what-ifs here today. The market is a weighing machine in the short term. What is it? What did Buffett say? It's a weighing machine in the short term and the long term.

I can't remember. Yeah, I can't. The one thing I have heard recently, though, when I was doing some reading for this test, was that the market is the best fundamental analyst. Yeah, exactly. It's the best analyst out there. Well, and that's what I always look at after a big event, after an earnings report, whatever. I always look at what the market's doing.

When AMD comes out with a new chip, for instance, how does the market react? Blah, blah, not very good. When Tim Cook gets up and does a new product announcement, how does the market react? Not very good. But the market's definitely weighing in all of the possibilities here today. Okay, we've got the other one here that I want to talk about. Well, okay, who's the second richest man? Now, we just talked about...

We've talked about Elon. Yeah, voting machine in the short term, by the way. Voting machine. Yeah, I think that was Ben Graham, actually. Yes. But Buffett used to quote a piece of that. Yes. And Benjamin Graham used to vacation in La Jolla, California, San Diego area. Really? I didn't know that. That's wild. And that's where he stopped into a Merrill Lynch office, and the broker of the day manning the desk was Charles Brandes.

who struck a friendship with Benjamin Graham and went off on his own and created his own big value fund, private. He's still one of the biggest wealth managers in the world, Charles Brandes. His offices, his headquarters are right about two buildings down from our building that I was in for a long time up in the Del Mar area.

And our trader where I worked, his wife was a trader for Brandis. And so I knew what Brandis was buying. And, you know, look, it's dull stuff that's going to take years to pan out. But for a long time, he had an 18% per year record. I don't know what it is these days. I'd have to look it up because value has kind of fallen out of favor recently.

But that's an interesting story. Brandis was the richest guy in San Diego at the time. Wow. I don't know if he still is. The old intelligent investor still sits on the bookshelf. I'm pretty sure it was his wife that lost millions.

millions of dollars at the Indian slot machine casino. She had an addiction to slot machines of all things. I can't imagine. The odds weren't as good as his. What are the fundamentals of four sevens coming up? I mean, that's the most idiotic thing, sitting there and playing a slot machine, in my opinion.

It's just mindless. There's no strategy. I can see blackjack where there's strategy and poker and whatnot, but sitting there with a slot machine is just big. The most important strategy is when to stand up, right? Yeah. Yeah.

Walk away. Tesla unveils their upgrade. Okay, the second richest man in the world now is Larry Ellison. I'm surprised to see that. That Oracle move yesterday, huh? Yeah, that was a big move. Problem is he's 80 years old, so he better enjoy it while he can. He's now worth $242 billion. Where did Buffett go? I thought he was number two.

And, of course, Musk is $44 billion. But wait a minute. Wait a minute. There's a wild card in Musk, in the hand that Musk holds. There's a couple of wild cards. Cathie Wood said SpaceX could soar to $2.5 trillion by 2030. Now, this is Cathie Wood, the same Cathie Wood that said Tesla would be $2,500 by the end of this year, wasn't it, or maybe 2030, right?

Now she's saying SpaceX. What would that push his... He would be a trillionaire. He would become the world's first trillionaire. If she's anywhere near of being right, which he never is...

But she says, you know, she's right there by Sarasota. I don't know if she ever tunes in my show. But I don't imagine. She doesn't anymore. No, I know Peter Schiff did not like me at all. We met one day and the hair stood up on the back of his neck when I handed him my card. And I doubt that Kathy Woods would be too. Well, that's okay. You know, look, we all have our own deal.

But she says SpaceX could sort a $2.5 trillion. Now, SpaceX is not public, obviously, nor is X. And a lot of people are seeing him packaging those two together, X, which is the old Twitter, and SpaceX, and taking them public, and maybe Neuralink in that package, which some people have valued at $500 billion. I don't know about that.

But Musk definitely has more cards. He's holding more cards than Larry Ellison has, unless Ellison's got a big bunch of private stocks in his hands that haven't gone public yet. Oklo. Well, here's the problem. There's not going to be a product until 2030. They've got to keep floating shares. They have a printing press down in the basement. They've announced the pricing of another 6.7 million shares.

Wouldn't that be nice to just go down and print shares, send them out there to the marketplace, and in comes 6.7 million shares times, what is it per share right now? Oklo, I want to say, is about 25 or somewhere in there. Oklo is currently $64 a share. Yeah.

That's a lot of money. That's $250 million being printed out in stock certificates. Those are valuable paper. You've got to cover that burn rate. They're covering the burn rate, and they're diluting the shareholders. Archer. Archer. We talked about them. That's the electric vertical company.

takeoff and landing vehicle they raise 850 million on Trump's executive order now that's another thing you'll see time and time again they do secondary offerings when there's favorable news okay I mean it's hot get it while it's hot fire up the printing press overnight out come the shares and they float it the next day when they get a big bump in their stock and

Because they're floating the shares at a much higher price than the stock has been and then of course that crashes the shares for several weeks And then sometimes that you know, they eventually come back But they just continue to print shares and some companies never get beyond that Okay back in 2000 a lot of the dot-com busts. That's all they had to show for themselves was printed shares that are now worthless That's what happened then AMD

Eh, you know, they showed off their M1350. It was not that big of a deal, said Morgan Stanley. And the stock is down about 6% or 7% since their announcement. There's a case of, what's the market think? The market's the best voting machine there? They were not impressed with AMD's latest offering. Okay, here's a private company. Now, I've got to look into this. I don't know much about this company. Jet Zero.

Not JetBlue. JetZero is a California-based aerospace startup. They're moving ahead to manufacture a next-generation commercial aircraft. Now, that's a big deal because right now you've got only Boeing and Airbus with the big guys and Embraer with the next size down and Bombardier up in Canada.

with some of the private jets, they're going to build a massive production plant in North Carolina, which has some ties to aviation, right? I mean, on their license plates, they got home with the Wright brothers, right?

Notice they're not building the aerospace production plant in California. They're building it in Greensboro, North Carolina, starting next year. The project represents an investment of nearly $5 billion.

and expected to create over 14,500 jobs, making it the largest jobs initiative in the state's industry in North Carolina. That's pretty big. Jet Zero, maybe you pull up a picture of that thing, give us a little, you know, what it looks like. Their flagship aircraft is the Z-4.

Jet Zero Z4 features a blended wing design, so I'm sure it looks like kind of a wedge, that the company claims could reduce fuel consumption by as much as 50%, unlike the traditional tube and wing airplanes. The Z4 boasts a more spacious cabin-friendly layout with smaller seating sections.

Looks like it doubles as a stealth. Yes, and dedicated overhead bins for every seat. Well, that alone is worth it. Say, hey, that's my bin, pal. Don't be messing with my bin. We'll be right back. ♪♪♪

You got to go where you want to go. Do what you want to do. Do whatever you want to do. Do what you want to do. And welcome back here to the final segment of today's Best Stocks Now show. Crude oil up 7%, 72, 79. Gold is really taking off, up 1.6%.

$3,456. That's an all-time high on gold. And the markets have come down some since we started the show. The Dow is now down $659. And the NASDAQ is down $220 right now after the attack by Israel on Iran.

Okay, in the final segment of the show here, well, as I said, we're headed to, I've been saying we're headed to

To Sarasota, to Lakewood Ranch on Tuesday. We will be there, bright-eyed, bushy-tailed, 7 a.m., ready to meet with folks. And as I say, Barry, I never know what I'm going to talk about at a workshop. I still, as I sit here today, I don't know what's going to happen this weekend, right? Yeah, right. So we'll have whatever is the most timely subject that I can report on on Saturday.

But of course, I get into my story and my background and my theories and my beliefs and my strategies and how I formulated my formulas for picking what I think are the best stocks now. It obviously involves valuations combined with momentum. It's not the Benjamin Graham version of stock picking. He was very much intrinsic value picking.

studying the sum of the parts and really digging into what the company owned in assets that might be underappreciated. In a margin of safety. Margin of safety. Like a 20% margin of safety. So you had to get that thing at under book value. Yes, and they're disciplined and they own those stocks sometimes for years. I can tell you this, that the value investors got clobbered.

In 08 and 09. I think Brandis was down about 50% that year and had a massive outflow. When a lot of value investors kept adding to it. So as it would go down, obviously the valuation, right? And a lot of those value names kept getting better. Yeah. Because the price went down. And they tend to focus on financials. They're usually heavily weighted in financials because they're low PE stocks.

and that was the eye of the hurricane in 2008 and 2009. ProShares had a three-time short, they still have it, SKF, three-time short the financial ETF that went up 490% that year. So if you were in Lehman Brothers and Bear Stearns and Bank of America and Wells Fargo and some of the banks that went down, a lot of the value guys were heavily parked in that area.

That's why I don't know that, well, it's worked out for Buffett. I think, you know, every year is tweaked a little bit. You know, look at gold this year. Look at the defense stocks this year. Look at the ones that have done well and look at the ones that have done poorly. I think it's better to flow a little bit with the flow of the market, like fishing, the fish move around.

Their patterns change. You've got to use a different color. You've got to fish deep or you've got to fish shallow. That's the way I see it. But I don't see the cycles changing very rapidly from this to this. It's generally gradual trends that establish themselves and you have to be parked. Now going back to this airplane, that's kind of interesting because

that they're actually going to take on Boeing and Airbus, which are ripe for being taken on. But here's the rub. Even though they've got some big investors in the company, I think Alaska Airlines is a big investor. United Airlines is a big investor. By the way, I flew United to California. I had really good service on United. I've heard nothing but bad things about United.

I had a very nice trip landing in Denver and Chicago at O'Hare and then moving on to the Sacramento area. But anyways, they've got letters of intent for 200 aircraft. It's not a public company yet, but here's the problem. They won't have a product for several years.

several years, but they are building a new and better aircraft, commercial aircraft to compete with Boeing and Airbus. Walmart and Amazon explore issuing stable coins. You know, we're going to have so many coins, I don't know.

how they all compete with one another. We're getting rid of pennies and adding a bunch of crypto coins. PayPal has launched its own token. Wells Fargo, J.P. Morgan had its own stable coin for years. I guess it's okay. What do I know? Hey, CMT actually, towards the end, they had literally a whole chapter on Bitcoin and crypto and using technical analysis for that. Only thing is, on the whole test,

I don't think it's going to mess anything up if I say this. Not one question on it. I'm like, you made me read this whole section, right, and didn't even ask me a question. It's new to the material. From my point of view, that's the only analysis you can do on the cryptos is technical analysis. How do you do fundamentals?

Yeah, I mean, you can do some via the fees generated, obviously, the unique email addresses on the blockchain. Obviously, Bitcoin would lead all of those. Think of them, I guess, maybe as fundamental metrics to a certain extent, kind of like when you remember the old...

counting users back in the dot-com days. Yeah. So you've got to figure out where the demand and supply is somehow. It's a work in progress. But that's why they call it crypto, because the demand and supply is cryptic. We don't know who's buying and selling. We just see the action of the price, the price action, which determines the technical pattern of it. Okay, Adobe flops again.

You know, I don't know. I think Adobe's better days are behind them. We don't own Adobe. It's a $166 billion company, a major game changer, a major disruptor, down 5.8%, which isn't helping the NASDAQ today. It is a key software stock.

And, of course, between the attack on Iran and Adobe's earnings, that's not helping. We did have good earnings yesterday from Oracle.

And our friend, the second richest man in the world, Ellison. Okay, well, you know what? We're out of time. I never know what I'm going to write about in the newsletter, but at least I have kind of a direction I think I'll be taking here. World events, how they impact the markets, how do you hedge your portfolio, how do you deal with world events, this and that.

And where are the best stocks now? There's definitely been a lot that have emerged this past couple of weeks. And where are we at with earnings right now? To get four weeks of my trial, GundersenCapital.com. To book an appointment with us in person in Florida, in Lakewood Ranch, or over the phone from anywhere in the country, 855-611-BEST. 855-611-BEST. Have a great day, everybody.

This show is not a solicitation to buy or sell any securities. Bill Gunderson or clients of Gunderson Capital Management may have long or short positions in stocks mentioned during the show. Past performance is not indicative of future performance. Gunderson Capital Management is a fee-based registered investment advisory firm. All accounts are held at Charles Schwab. Schwab is a member of SIPC and FINRA.