Wednesday June 4, 2025 - Join us as we spin the wheel of market news and look at the uncertainties driving markets.
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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.

Good morning and welcome to the Wednesday, June 4th edition of the Best Docs Now show. I am Barry Kite, planner and analyst here at Gunderson Capital Management, sitting in for Bill today as he's taking an early flight back from the West Coast to land here so he can get some work done in today. But from a market perspective, we've got a bit of a quiet day in terms of market movement. We've got the Nasdaq's down seven points. That's

barely 0.03%. And we've got the S&P 500 up 1.5%. That would be 0.026%. We've got the Dow Jones up nine points today at 42,529. That's barely moving. We've got crude oil up 0.4%. That's 27 cents a barrel today.

Gold barely moving up $5 at 0.15% in the green. And then Bitcoin also down 1%, which is basically a non-move for that as well. If we can get some, let's see if we'll get the Treasury, see if we get some movement. Not much, down 7 basis points to the good, 4.4% on the 10-year Treasury. So, yeah.

Good morning and welcome to the Wednesday, June 4th edition of the Best Docs Now show. I'm your host, Barry Kite, planner and analyst here at Gunderson Capital Management, sitting in for Bill today. And it looks like Bill picked a good time to do some traveling. Pretty quiet out there, Jeff. What's your take? Yeah.

Yeah, yeah. It seems like everything is kind of like a midweek lull here to see, you know, kind of a rest from the earnings season that's winding down and...

We'll see what happens. Yeah, it feels like it's funny. There's a lot of news, a lot of cross-currents, and basically it seems like it's all netting out to close to zero, at least for today. So it's kind of, when you look at the stories, putting the show together this morning, it looked kind of almost like a Wheel of Fortune kind of day. Just spin the wheel and we'll, you know, whatever topic we land on, whether it's economics, trade,

earnings. We even had some CEO pay news in the mix. So just as the good news is in this business, if you don't like one day, just wait another because it could be likely going to be completely different. So I mean, we've got what, US-China relations,

We've got, of course, Ukraine and Russian relations. We've got Elon Musk and President Trump relations in the news. We've got some economic data in the form of some employment figures. We've got some PMI manufacturing and service information from around the globe.

And we've got a few earnings to cover, and I know Jeff's got some work on that. We'll hit in the second part of the show. And so today we've got a little bit of a smorgasbord of everything out there. So before we get kind of too far ahead of ourselves, you know, yesterday ended with

Gains across all the major indices. I think the market kind of started out slow today but finished well. Primarily fueled by the move, really AI and increased demand for power kind of drove the narrative yesterday with Meta and that Constellation Energy deal.

which is interesting as diving a bit deeper into that, it's really the first deal of its kind involving a producing, involving a quote-unquote producing nuclear power plant. Microsoft, as we mentioned yesterday too, of course, had to deal with

constellation the kind of restarting reactor at Three Mile Island of course that one isn't currently producing power so you know just be interesting to see how you know obviously power is highly regulated industry very you know price sensitive particularly when you come to individual customers not commercial customers so it'll be interesting to see how

You know, what comes online, how much of that power, new power ends up, right? Say, powering AI versus, you know, powering our AC air conditions down here in the south. Well, what's interesting, Barry, is those –

All those nuclear energy stocks started off really strong yesterday morning with, you know, kind of riding that momentum of the Constellation Energy meta deal going

And then, you know, I was noticing some of the ones that are favorites, Oclo, NNE, SMR, a new scale. They all kind of tailed off towards the end of the day. Not exactly certain what happened there, but...

Like, okay, I thought it was going to be a pretty strong overall day for those guys, but they all ended up falling off a bit. Yeah, it's kind of interesting to me in terms of, you know, we used to think, especially if you go back to some of your old finance books or just probably even in the Series 7, going through some of that stuff, you know, utilities in the past had always been kind of the sleepy thing.

safe companies, defensive companies to own. A lot of times we're just clipping a dividend versus much capital appreciation. You flip that over the last two to three years and it's just been amazing in terms of some of that embedded volatility, particularly in the nuclear names because they are going to be more

longer duration, right? So anything kind of background, anything longer duration is obviously going to have more risk because those earning streams are coming further and further into the future. And so interest rates play a big part of that.

of that equation. So they have more risk, usually a higher P.E., but I think it's something that's been adopted by traders. It seemed one of those things in any of those assets or asset classes, sectors that have a good bit of volatility in them. Of course, traders will kind of flock to that because you want

you know, something with some activity. And yeah, I don't know if it's some of those intraday gains, right? Some of those short-term traders, you know, kind of bailed out and took some profits and, you know, went home and took the family out to eat or what.

Overall. Well, any investor in that, you know, when you look at the Oculus, the Energies, and the SMRs, it's almost like you're a venture capitalist because, again, they don't have...

and revenues that they're actively shipping for the most part. And so you're kind of betting on where things are going to be with those guys, you know, three to five years out. Yeah, I equate some of it and throw the quantum computing in the mix too. It's kind of like the new biotechs, right? Yeah.

To me, certainly the SMRs and the OCLOs, the kind of portable or smaller reactors, and throwing some quantum computing, those are great.

kind of that new biotech realm where either they're going to nail it or fall by the wayside. A lot of execution risk there. The market yesterday finished pretty strong. The S&P was up 0.6%, pushing towards 6,000.

And we'll see 5,900 has been a bit of a, that range has been a bit of a, you know, hard for it to punch through. But we'll see. I mean, we're sitting at 5,978 at the moment. So, you know, about 22 points away from that kind of good round number of 6,000. We had the NASDAQ ended yesterday up 0.8%. And then we had Dow up a half a percent.

Most of that driven, like we said, by the news with Meta and Constellation Energy deal. And then also, we had a good jolts number, job openings number. Of course, we'll get into what the ADP report looked like today, but as of looking back at yesterday, of course, we keep hearing...

You know, waiting economists are waiting for the data to soften up. Right. Or for the data to begin showing some kind of downturn. And, of course, yesterday, job openings actually surprised to the upside, grew seven point three nine million versus I think it was seven point one was kind of that consensus number.

So it's good. I mean, in terms of wages remained pretty strong. I think I saw where wage growth for folks at jobs was above the 4% range.

So you're getting some, quote-unquote, real wage growth still, right, in terms of where inflation is, or at least where they say inflation is. Maybe not our own personal inflation rates, but if you've been eating eggs all the time for the last three months, your inflation rate might be higher than...

some of the other uh categories there but i know my favorite breakfast spot waffle house is still charging me a 50 cent parade premium you know to to have the uh the hash brown scramble out there well can't get a can't get away from them uh nickel and dime you know the prices you know they go up they rarely go down so well we'll uh

We're just getting started here on the first part of today's Best Docs Now show. We'll be right back and look forward to what's going on today. They call me free. I keep looking. Oh, we're going on. What are you feeling? Now that I've talked my life.

My head is real

As usual, helping me along. Jeff's the advisor here at Gunderson Capital Management. If you ever want to give Edie a call, certainly you'll end up chatting with one of us. Always happy to help any way we can. You can always reach her at 1-855-611-BEST.

It's 855-611-BEST, or you can always reach us through the website at GundersenCapital.com. But it looks like the markets have kind of gotten better.

They're wings to the upside a bit with at least a little bit more movement than when we started the show. Jeff is pretty stagnant, but we've got the Dow up 37 points, just up about 0.1%. S&P is up almost 10 points today. NASDAQ is leading the way up 0.18%.

And we've got gold bouncing back a little bit from yesterday. We've got that 3,365. So in terms of the market, a little quiet, but we'll take the green on the screen for sure. As Bill mentioned, you know, kind of yesterday a lot in the live trading notes,

Really anything affiliated with data centers, led the markets, whether it was semiconductors, AI infrastructure, energy. And of course, one note is NVIDIA took back the most valuable company tag. I haven't looked and see if it still has it at the moment. But yesterday, NVIDIA ended with a market cap of $3.446 trillion.

And Microsoft ended the day at worth just $3.441 trillion. So I can't move my decimal place that much, but, you know, .005 of a trillion. Jeff, I'm guessing maybe that's $5 billion. I don't know. We'll have to look it up. But who knows? Depending on the neck-and-neck race right now at the moment between Microsoft

Microsoft and NVIDIA. NVIDIA is kind of a newcomer to this whole group. Obviously, you had Microsoft and Apple, and then you had LVMH, which is the Louis Vuitton brand and a number of other brands over in Europe that were kind of the three largest companies.

what do you had a Ramco one time too, I think before they did some kind of split or what have you. But, you know, pretty, pretty interesting in terms of just, you know, when you look at these numbers, I guess what NVIDIA took over, took over Apple in November of 2024. Then the first time I think it topped both of them was in June, 2024, where it topped both Microsoft and Apple. So yeah,

Got a quick number here. The shares are up 1,500% over the last five years, Joe.

Not a bad five-year holding period there on that one. The last 12 months, up just a measly 22% over the last 12 months. Not a measly. Yeah, right? I will say it is kind of interesting. Now that we're wrapped up,

Kind of that pretty much wrapped up the first quarter of earnings season mostly. Really coming across one of the best examples, as Bill always says, NVIDIA, number one, being one of the best examples of all time that stock prices follow earnings.

specifically earnings expectations, right? And, you know, kind of as we kind of wind down this earnings season and kind of see where things land. And, of course, you know, Bill's tracking that in the newsletter every week in terms of S&P earnings and earnings growth expectations. But, you know,

You know, no surprise really that a lot of the earnings are coming from the Magnificent 7. So as a reminder, still listed as the 7. You could probably take one out and maybe add another one here and there if you'd like. But, you know, it's Tesla, Apple, NVIDIA, Meta.

Microsoft, Amazon, and Alphabet, a.k.a. Google. And through Q1, year-over-year earnings growth compared to the other 493 out there, they had year-over-year earnings growth of 27.7% from the Magnificent Seven.

And then, which was three times higher, right, than the combined growth of the other 493. So I think the other 493 were around a 9, if you average them together, was about a 9.4% earnings growth rate. And then of these seven companies you had, they had a 27.7%.

average growth rate. So just interestingly enough, obviously those are the ones that have been driving the market over the long term. But when you look at and see how tough markets have had it, say this year, just in terms of whether it's volatility or just where they started and where they ended, Tesla's actually down 12%, I think, year to date.

Apple is down over 18% year-to-date. Other laggards, Google down 11% year-to-date. Amazon down 5%. The ones in the positive are going to be Meta, which has just had a great year, up almost 15%. Microsoft's up almost 10% on the year, and then

Nvidia with the up and down tariffs and export restrictions to China up 5.5%. It's been interesting when you look at the Magnifx and 7. I haven't looked at them all together in a while since the craze of a year and a half or so ago. Some of the lusters came off of it, but still a huge driver, those seven companies in terms of

driving future earnings growth for the S&P 500. So pretty amazing when you look at those numbers. I think Bill's feedback was in California, he was looking at all the vehicles that are out there driving around, and he said that a good percentage of those are electric vehicles powered by Tesla. Yeah, no matter what the headlines say, what folks...

In various sides of the aisle, think of Elon. I was listening to the Joe Rogan podcast. He had Aaron Rodgers, you know, the great quarterback on there with him. They were saying that, you know, a lot of those people, they –

you know, they're, they're not in favor of what Elon's doing and stuff like that, but they, so they're taking the badges off of their Teslas because they don't want, uh, some crazy folks to come and set their vehicle on fire. But, uh,

I thought that was kind of funny. It's like, yeah, I like the product. But product-wise, it's still kind of the best in class, at least most of all in that space, and was certainly an early entrant into the space as well.

Yep, yep. And we, of course, here in Charleston, we see a lot of those Tesla missile trucks driving around. Yeah, I know. There's a lot of them. You'd see, I mean, I'm surprised at the number of cyber trucks I see here and in all different various color patterns, right? I've seen a few different ones here that I haven't seen anywhere else. So, well, I'm sure Elon appreciates that. And we'll get into a few more of those stories and we'll highlight some earnings.

coming up here on the second half of the Best Stocks Now show. 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 GundersenCapital.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. The instigators, because there's something there. We've got to get together sooner or later.

Hello and welcome back to the second half of the Wednesday, June 4th edition of the Best Docs Now show. I'm Barry Kite, planner analyst here at Gunderson Capital, serving as relief captain for Bill this morning. I also have Jeff Webster joining me on the show today. Jeff, as you all know, is an advisor here at Gunderson Capital Management and he's

Of course, if you want to stay up to date with our thoughts, Bill's thoughts on the market, you can get Bill's newsletter at GundersenCapital.com. Or if you'd like to have a discussion with Jeff or myself...

about your portfolio allocation, any planning issues you may have out there, feel free to give us a call, 855-611-BEST. That's 855-611-2378. Always here to be a resource and help any way we can. Looks like market-wise,

uh, looks like the market's helping out a little bit here. We've got, uh, NASDAQ, uh, all the major indices up, uh, over 0.2% at the moment. So we've got a little, got a little, uh, momentum out there, but, uh,

You know, as we kind of look at the market on a daily basis, we've got a number of balls in the air when it comes to market moving news. Sometimes it feels like there's more balls out there, and some are more important than others, certainly. But, of course, none of them are really bigger than really the U.S.-China trade, ongoing negotiations or trade.

at least I hope negotiations, maybe, you know, Jeff, maybe it's ongoing disagreements would be a better way to phrase, describe the current state of, you know, kind of the U.S.-China back and forth. But it looks like, you know, there's kind of, I remember the words, I think some of the Chinese used, you know, what, maybe a month or two ago in terms of

you know, using rhetoric in a respectful manner or something. Do you remember when they were, when that was kind of, you know, part of what China wanted and maybe this is it. I mean, you got, I think at 2 a.m., around 2 a.m. President Trump put out a truth social meeting or message and it said, you know, this is a quote, I like President Xi of China, always have and always will.

But he is very tough, and this last part's all in caps, very tough and extremely hard to make a deal with.

I think I saw a Chinese press release with the same verbiage about President Trump. They just switched it out? Yeah, two tough business guys that, you know, they like each other, but they both push a hard bargain. But I don't know. I'll put my chip on Trump, I think, on this one. Yeah, I mean, when I look at it,

Yeah, when I look at it, you know, I think, you know, the good news is, right, when I read the message, right, it kind of, I don't know, it seemed kind of in the back of my head that part about, you know, respectful message, whatever, right? And this, you know, I think this is...

I think this is really more of a respectful message than anything else. And it looks like you've gotten some senior White House officials on Monday. We're talking about that they expect, say, Trump and Xi to talk this week.

So we'll see where that goes. But, of course, you know, the bottom line, as we've said, I mean, it really comes down, you know, for the Chinese, access to semiconductors, right? And for the U.S., you know, it's kind of coming around to really, you know, access to some of the rare mineral, you know, rare earth minerals. Of course, you know, I guess what we started yesterday signed in the –

You know, the tariffs, 50% increase on steel and aluminum. And, of course, on the other side of that, that, you know, we've been hearing that for whatever reason or however, you know, whether it's intentional or just how long it takes them to go through their approval process, you know, those rare earths are trickling, if anything, out of China at the moment and

Don't forget, you know, they hold, I think it's, I think they hold roughly 70 to 75% of the total, you know, rare earth minerals, quote unquote rare earth minerals. But the real key to me is 90% of the world's refining of these minerals are done in minerals.

are actually done in China. So it's not only mining the stuff, it's also refining it. And they've cornered the market on it and really kind of closed that market, cornered it, and I believe they kind of started around the mid-'90s. So that's where we are. Yeah.

I was going to say, you think about what's going on with China. So as it relates to earnings announcements, you look at the dollar companies, Dollar General and Dollar Tree. Both posted good results. However, they're getting hurt in the markets because their outlooks were not good, because they're concerned about how the tariffs are going to impact China.

you know, their ability to, you know, import the goods that they have on their shelves. And so, you know, again, that's another implication of, you know, how we're interacting with the folks and companies in China. It's impacting, you know, kind of bread and butter companies here in the U.S. as it relates to, you know, their outlooks.

Well, right, and that's what I think we talked about on Monday, some of the interesting earnings reports. And, yeah, it was the dollar, what, dollar general and what, dollar tree. I think dollar tree came out this morning. This morning. And I think theirs is a little, I think theirs is a bigger miss maybe on one side. Well, they had a surprise. They said it was a little bit of a surprise, but I think, again, they're getting hurt on Outlook. Right.

Yeah. From what I'm seeing. And one of the benefits of trade, right, and not just trade with China, but just when you look at it from an economics perspective over the years, kind of from a

educational perspective, I mean, trade is, you always weigh the benefits to trade, right? And there was, you know, the thing is, as consumers, we have been able to, you know, one of the benefits of trade, particularly with China, is we've imported deflation, if you will, right, in terms of

you know, that plastic table that you might have, you know, grown up with that was out on the patio right now, what it would have cost, you know, years ago nowadays, right? You can go pick up a patio, you know, patio set for, you know, 50 bucks sometimes, all plastic, right? And, you know, so the point being is we've, we have, you know, you've imported a bunch of, you know, deflation. And, you know, I would, like I said, I was,

Happened to be in a dollar tree, I think it was a dollar tree, you know, a couple weeks ago. And, you know, I was amazed, right, at kind of the prices of stuff inside the place, right? You know, and so then I'm thinking, okay, you know, those prices would...

significantly change potentially if some of this doesn't get worked out. So I was interested in seeing some of their, of course, the CrowdStrike is going to get a lot more headlines and a lot more activity. Obviously a name we own at the firm, but I was really interested, particularly on the Dollar Tree side, because like I said, that's the one

Yeah.

It didn't matter what aisle it was. We were grabbing some graduation balloons, some streamers. I mean, if I would have bought what we bought at Party City, it would have been a small fortune. As it relates to CrowdStrike, Barry, let's take a minute and talk about that. I mean, again, they posted a beat. However, they're getting hurt by Outlook.

And everyone's stating that they're now beginning to maybe pay the price for

Or what happened almost a year ago with the big outage that impacted all the airlines and things like that. But what's ironic is more than 20 analysts out there, Barry, have actually increased their price target. Right. Their price target. Now, I would value your perspective as our CFA here. Some of them...

upgraded the price target, however, or moved it up, but they downgraded their rating. It seems a little contrarian there.

yeah help us understand why they would increase their target price but they they downgrade it from uh from a radiance perspective yeah i'm saying it makes me think that you know one of them you know they round it up and the other one rounded down right um you know maybe they're right in the middle i don't know uh but yeah so the the the key you know kind of the the key here is you know to me it's it's the earnings game right i think we mentioned it yesterday on the show with

Bill's like, who knows how the market's going to react to CrowdStrike's earnings. And the reason being is, I mean, you look at it, okay, beat on the top line and then on earnings.

They beat by 11 cents. They were supposed to get 66 cents a share. They got 73. But their revenue, they missed by .01 billion, which now equates into whatever drop we have in the stock today. And a lot of that's on that forward guidance, as you mentioned, Jeff. We'll finish up some CrowdStrike comments when we get back, and we'll look at some more under the hood and see what's going on. ♪♪♪

Yeah.

And welcome back to the June 4th edition of the Best Docs Now show. I am Barry Kite, planer analyst here at Gunderson Capital, finishing up things for Bill today. And we've got Jeff Webster on the show, advisor here at the firm. And it looks like we're going to get out of here with a bit of a, you know, gave back a little bit of the gains, but we're still in the green. Pretty much all the major industries are up there.

slightly up 0.1%, but all are in the green, so we'll take that. And, yeah, talk about, you know, get back to the earnings game for a minute. It's, you know, it's such a crapshoot in terms of what, you know, what the market wants. You know, the market at certain times is certainly a fashion show, and I had a finance professor, you know, years ago that said, you know, made the point that stock prices are driven by,

supply and demand. And so, you know, some days in the market, especially when you, you know, when you've got a, he also said for every, he also said it's a zero sum game for every winner. There's a loser, which I was trying to figure out that meeting on one side of the trade. You may have a loser when someone's doing good, someone's doing bad, but yeah,

I still haven't pieced that one fully together yet, but that was years ago. I'm still working through that one. But, you know, the other piece in terms of, you know, supply and demand, I mean, you look at CrowdStrike. I look at their numbers, right? You know, they beat, what, 11 cents more than expected. They were expected .66, and they came in 11 cents higher. So what is that a beat of?

17% Yeah, yeah And then of course on the other end Right, the revenue number So ideally you want to be on top and bottom line They missed the bottom line And they missed it Like I said They were supposed to get I think it came in at $1.1 billion

which by the way is a 20% year over year increase from last year. But it came short of the 1.11 billion estimate. So I'm like, okay, 0.01 billion. And then obviously there was some revenue, you know, the revenue range going forward, but it wasn't that far off. And,

And then you looked at the stock, you know, it was down 7%, 8% in the pre-market today, right? Of course, now I think it's kind of buoyed itself a little bit, but down 4.4%. But it's just, you know, it just goes to show you sometimes how, you know, some of these companies, it's just, you know, can never –

never be good enough but uh you know i've continued to hear stuff on the software end obviously that the software end in terms of ai can be you know is the one that's kind of most under potentially a change of getting disrupted particularly writing code um and so uh you know that's uh you know some of that uh i think some of that discounting some of those names has to do with some of that execution risk that may not be here now but it may be here you know two years from now so

A couple of other mentions on the tech side, Guidewire, which makes a vertical software-as-a-service SaaS product for property casualty insurance companies. They put out some good earnings.

They're up today. I mean, they spent most of May, from a stock perspective, kind of testing their resistance level, and it has broken out. It's up almost 20% today. In the financial space, health equity, which a lot of companies use them to manage their investments

flexible spending, uh, and, uh, high yield saving or what do you call the HSA? Yeah. HSAs. And then that they manage them. They, they, yep. They came out with, uh, with some good results as well. They're up, uh, 9.4%, uh, today. And then who doesn't like a fire engine? Uh,

This is a company that I wasn't real familiar with, but Rev Group, which makes a variety of fire engines, but they also have a line of recreational vehicles for folks that get out there. I mean, Fleetwood, American Coach, Lance, they put together a great earnings report as well.

And, gosh, Gary, they're up over 16%. Wow, yeah. When you said the fire engines, I was thinking, got me thinking, talk about in kind of the we'll weave on uncertainty, right? I think uncertainty in the market, and we had some Fed speakers yesterday speaking of their concerns

was uncertainty. And I think if I asked you, Jeff, what the kind of word of the year has been from a market standpoint, and you can't say tariff,

then uncertainty would be pretty far up there. There's a company, I can't remember the symbol, but it was kind of an analyst test, if you will, and it had to do with an ambulance helicopter company. So a company, they do life flights, things of that nature. Yeah, it's probably AMR.

Yeah, well, when it was publicly traded, well, it literally had one of the widest array of earnings numbers, and it was simply because it was so unpredictable in terms of trying to determine how many, say, vehicle accidents there were going to be

Obviously, they have to be ones that are going to be worse enough to include, you know, potentially need a life flight. And, you know, when you did all the math, right, to determine what an earnings estimate would be, right, I mean, they were, you know, the range was, you know, hugely wide, right? And so the company always traded at a lower multiple simply because it was almost impossible to determine how their earnings path was going to be from year to year or from quarter to quarter. Right.

Some of these...

They're in Denver, Colorado. And both of those bills were close to $2,000 to transport him five miles from his living facility to the hospital. He fortunately was fine. And it's just ironic that you mention that because I think, well...

90 minutes ago, I was paying two bills. Well, and then work reimbursements. Yeah, work reimbursements to those life flights into the mix, right? And then you get a whole different array of uncertainty. So it's, you know, I think, you know, in the markets and what we've seen kind of this year certainly, you know, kind of has been uncertainty. And I think, you know, as time goes, usually with markets, right, as time goes by, I think we're going to get, you know, continue to get a bit of, you know,

you know, more and more certainty as we go along. So, uh, or hopefully that's, uh, I think that's what we're all shooting for. So, uh, to stay up to date with our thoughts on the markets, get Bill's newsletter, uh, live trading, uh, trial at Gunderson capital.com. Or if you'd like to have a discussion with Jeff or myself, uh,

about your portfolio allocation, give us a call. 855-611-BEST. 855-611-2378. Ask for Edie and we'll be happy to chat. Hope you have a great day, everyone. Bye now.

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.