The Weekly Trend

The Weekly Trend is a conversation on various publicly-traded markets, seen through the eyes of technical analysis.

The Weekly Trend

Episode 259: Checking the Boxes

June 27, 2025 • Kevin Firari • Season 6 • Episode 25

0:00 | 28:43

In this week’s episode, David and Ian discuss the areas of the market going out to new all time highs, certain relative relationships, like high beta to low volatility and growth versus value. They also discuss how although growth areas like technology are currently leaders, other areas of the market are still participating to the upside, a weak U.S. Dollar, interest rates, risk on areas of fixed income, and Oil.

david_1_06-27-2025_104451 0:27

Welcome back to the Weekly Trend Podcast. Today is Friday, June 27th, 2025 and P 500, currently sitting at 61 82. I'm David Darling here with Dressed to the Hilts. Ian McMillan some pretty good developments this week for the market to cover,

ian_1_06-27-2025_114451 0:45

I am wearing a tuxedo right now.

david_1_06-27-2025_104451 0:46

wants to. I was gonna say, it's not casual Friday for you. Is it? You're just, you're dressed up

ian_1_06-27-2025_114451 0:52

I had my shoes shined.

david_1_06-27-2025_104451 0:53

if our, yep. If only our listeners could see you

ian_1_06-27-2025_114451 0:57

Markets are a black tie affair.

david_1_06-27-2025_104451 0:59

markets are a black tie affair. It makes sense to get dressed up when you reach new all time highs. It's

ian_1_06-27-2025_114451 1:06

Yeah, that's true. Hey, let's, yeah, let's dive into that New all time highs for. 100. That was Wednesday and here we are Friday, a couple days later, still in today. The new all time highs for the s and p

david_1_06-27-2025_104451 1:26

Yeah.

ian_1_06-27-2025_114451 1:26

and lots of things before this. Individual stocks, sub industries hitting, uh, new highs as well, but nice to see the major indices.

david_1_06-27-2025_104451 1:35

For sure. Nasdaq s and p like you talked about, and then the industries or sectors, technology, communication services, industrials, not too far behind, not there yet, and then some of your. Sub industries like semiconductors with bellwethers like Nvidia and semi,

ian_1_06-27-2025_114451 1:54

Yeah.

david_1_06-27-2025_104451 1:55

Taiwan semiconductors, and then JP Morgan.

ian_1_06-27-2025_114451 1:59

If that doesn't hurt.

david_1_06-27-2025_104451 2:01

there's a lot here. Does not hurt. And I, it's an interesting dynamic because if individuals haven't been involved or institutions, you're kind of in. Of a psychological purgatory here if

ian_1_06-27-2025_114451 2:14

Yeah.

david_1_06-27-2025_104451 2:14

been involved.

ian_1_06-27-2025_114451 2:16

Yeah,, that's tough. The headline, I mean, the headlines have been, I like to say I get it. I don't, as a technician, I don't, as a trend follower, I don't, plenty of headlines to go around, even this past weekend. Right. And here we are, s and p. Never been higher in the history of the index. So now,

david_1_06-27-2025_104451 2:39

can't keep

ian_1_06-27-2025_114451 2:39

right. What are you saying? Well, now I mean it's, I think to your point, it's, it can be really hard to mentally justify buying stocks now, although this is still not a bad entry point, if you are a hundred percent in cash. Historically, it's still not a bad entry point. Buying new highs not a terrible strategy. cause we know more highs usually need, or new highs usually lead to more new highs. But yeah, I do get 20% drawdown, which takes, what, 25% to get back? You need 25% rally just to give back. And it's been a quick one, two months, right? Or less than what? April 7th. So about three months. We bought, bought on April 7th, April 8th, somewhere around there

david_1_06-27-2025_104451 3:34

and I'm sure the psychology is too far, too fast. Oh, man.

ian_1_06-27-2025_114451 3:38

for sure.

david_1_06-27-2025_104451 3:39

all time high. For some

ian_1_06-27-2025_114451 3:41

There's a, a big account, there's a big account this week. I think by all regards, someone who's probably you know, an expert big former Wall Street jobs big positions of importance decision making at. Companies that are all household names, big banks, big institutions, very much, uh, very much. He was on there. This is too far, too fast. This is unhealthy. Which I don't, I, is it, I don't know what to say. I dunno what to say. Especially as we, these v bottoms be, become more and more frequent.

david_1_06-27-2025_104451 4:22

Yeah, they're not, they're not new

ian_1_06-27-2025_114451 4:24

I am not saying that they're easy, but we should mentally be getting more used to V bottoms. Right. And I think the evidence was there. I'm not saying on April, April 8th, April 9th, April 10th. You know, Dave and I were sitting back and saying, oh, this looks like it's gonna be a V bottom. But the evidence continued to grow by the time you got to the end of April and into early May. You're still below the 200 A, but it was looking like a V bottom was more and more likely. If you wanna call this, you know, there was a slight correction back in, you know, like this third week of April, but. I'd say for all purposes, V bottom ish

david_1_06-27-2025_104451 5:09

At bottom near important volume weighted average price levels,

ian_1_06-27-2025_114451 5:13

dead.

david_1_06-27-2025_104451 5:14

a swig breath thrust in April. And then I think this gap that takes place on May 12th, uh, right through the 200 day and through some important levels really would start the short squeeze. And then they tried shorten it again last week

ian_1_06-27-2025_114451 5:32

Yeah.

david_1_06-27-2025_104451 5:33

high put call readings. You know, we talked about, uh, large outflows from retail investors, you know, across the investment universe. And then here we are going to new all time highs. now you're stuck if you don't have a process and you're basing everything on a motion, right? You, you got short because of tariffs, you got short because of Iran, you name it, the narratives we've talked about. You're forced to close that short, and are you really feeling all that great about getting in at this point? Probably not. And then you talk about your bellwether stocks like Nvidia, Taiwan, semiconductors, even JP Morgan new all time highs. I don't, you know, the, too far, too fast I guess. I mean, it, it, it could turn into that where we consolidate for a while,

ian_1_06-27-2025_114451 6:20

A lot of

david_1_06-27-2025_104451 6:21

but.

ian_1_06-27-2025_114451 6:21

there. Under the surface, even taking

david_1_06-27-2025_104451 6:24

And, and there's

ian_1_06-27-2025_114451 6:25

an sector like industrials, new, all time highs, underperform. I mean, still not, it doesn't have a terrible relative chart, but it's definitely taking a hit. Looks really good underneath the surface. You've got things that are in uptrends participating. May not be outperforming, but this is I wouldn't say it's a mega cap growth fueled rally. Those look good and they are leaders, but there are other things too.

david_1_06-27-2025_104451 6:55

Yeah, for sure. And when, when has it ever been bad? When there's overwhelming demand for stocks New Alzheimer's.

ian_1_06-27-2025_114451 7:03

especially in the names that move the indexes the most.

david_1_06-27-2025_104451 7:07

And we know that new all time highs tend to happen in clusters. You know, heading into this week we'd only had three new all time highs in the s and p. You know, that happened in January and February last year we had 57 new all time highs in the s and p 500. You know, you could start stacking some. Yeah. There you could start

ian_1_06-27-2025_114451 7:26

I missed that. I missed that.

david_1_06-27-2025_104451 7:28

So it just, it just goes to show that all market environments are the same, and I think that's it's appropriate to highlight the supporter of this podcast, the Adaptive Select ETF listed on the New York Stock Exchange under ticker A DPV, which helps investors access to the most prevalent factors in markets, momentum and relative strength proprietary identification methods. The adaptive Select ETF attempts to own the strongest 25 large cap stocks when the market is in an uptrend. not all market environments are the same, adaptive select seeks to prevent extended declines by moving to short-term treasury bills and cash during long-term market. Downtrends investors can find out more including how to invest in A DPV by visiting ad pv etf.com or calling 1-833-880-FIVE 200. always, investing involves risk, including possible loss of principle A D is distributed by Quasar Distributors, LLC. And so here we have a market environment I think you would call blue skies, right? You've

ian_1_06-27-2025_114451 8:27

Yeah.

david_1_06-27-2025_104451 8:27

things at new all time highs. You mentioned you mentioned large cap and growth, but there's plenty of other things happening. But I mean, it, interesting to note though, you know, you look at something like. S and P 500 growth versus s and p 500 value, so SPYG versus SPYV. And that relationship's almost on the virgin new all time highs. And I know you have a favorite ratio that's almost there.

ian_1_06-27-2025_114451 8:53

Yeah, growth versus value continues to point towards tech and all that fun stuff we've seen over the last few years. High beta vol

david_1_06-27-2025_104451 9:06

Yeah.

ian_1_06-27-2025_114451 9:06

strong has recovered. I think that's another great risk on, uh, Inca indicator. We definitely wanna see. High beta stocks outperforming low ball stocks.

david_1_06-27-2025_104451 9:21

Well, and I even think, you know, we're fans of momentum and when you look across the factors, momentum continues to hold relative strength.

ian_1_06-27-2025_114451 9:29

Yes.

david_1_06-27-2025_104451 9:30

that's not a bearish characteristic. Here we are heading into July, is the best month of the year in post-election years, going back 20 years. That's from Ryan Dietrich. So

ian_1_06-27-2025_114451 9:42

The best month is July,

david_1_06-27-2025_104451 9:45

yeah, in the post-election

ian_1_06-27-2025_114451 9:47

supposed to sell in May,

david_1_06-27-2025_104451 9:49

selling May and walk away the old adage sometimes.

ian_1_06-27-2025_114451 9:51

this year.

david_1_06-27-2025_104451 9:53

Not this year. And so we'll see what July looks like. I mean, it's still ahead of us. We don't, can't sit here and predict, but when we look at the data, it's a seasonally strong month in, in post-election years, which is what we're in a post-election year with a pretty strong track record. And Dietrich also highlighted that 1988 SAP has gains for both May and June. The rest of the year rose 15 outta 16 times. So we could see a positive year on our hands by the end of the year. It doesn't have to be gangbusters, but I mean this would be a good start going into At all time highs.

ian_1_06-27-2025_114451 10:30

would be a great start. That's a great tailwind to have.

david_1_06-27-2025_104451 10:33

What about, uh, underneath the hood? You talked about individual stocks or maybe you wanna touch base on some

ian_1_06-27-2025_114451 10:40

Yeah. Industrials. We know about aerospace. Definitely a hot one. Lots of ETFs to choose from. Definitely some more nichey aerospace stuff outside of your PPAs. XA XA nukes shield.

david_1_06-27-2025_104451 11:03

MISL

ian_1_06-27-2025_114451 11:05

ROKT, final front. Yeah, so that and I don't know if that's an aerospace thing, is it more of a Right, because the space, space exploration also been a big theme the last few months hasn't gotten as much. Media time is things like ai, um, but the whole space exploration thing

david_1_06-27-2025_104451 11:34

Yeah, like the Ken Show, final Frontiers Rocket.

ian_1_06-27-2025_114451 11:37

yeah

david_1_06-27-2025_104451 11:38

we were talking before we hopped on here, the GE V, know, GE

ian_1_06-27-2025_114451 11:44

GEV.

david_1_06-27-2025_104451 11:44

I don't know that that's or space, but just a lot of different I. Pieces here from across a lot of what I would consider or what many would consider risk on areas. You know, we wouldn't, aren't areas that you would be talking about if a recession or market correction were well underway. We'd be talking about staples or utilities or bonds overall, but we're talking about semiconductors, aerospace, industrials. communication services. I mean, these are risk on areas.

ian_1_06-27-2025_114451 12:19

They are, and you mentioned semiconductors earlier. I think software looks good.

david_1_06-27-2025_104451 12:25

Yeah.

ian_1_06-27-2025_114451 12:26

Uh, not to go to back to high beta, but a lot of this high beta stuff. Your small mid Capy, your, um. I think your popular names, your Robin Hoods, your Roblox pal Palantir down today. But all this stuff, I mean the stuff that retail likes I know you mentioned earlier net sellers over the last recently I don't know, I can't remember the timeframe you used.

david_1_06-27-2025_104451 12:55

Last few

ian_1_06-27-2025_114451 12:56

But this stuff, this like your, uh, what is it? Core weave what's the rocket Labs? Right? So go back to the aerospace, like all these up and coming names. A lot of'em have IP OED in the last one to three years. That stuff's working.

david_1_06-27-2025_104451 13:15

Yep.

ian_1_06-27-2025_114451 13:16

So there is a definitely a risk on environment.

david_1_06-27-2025_104451 13:20

for sure, financial technology.

ian_1_06-27-2025_114451 13:23

Yeah,

david_1_06-27-2025_104451 13:24

broker dealers and exchanges

ian_1_06-27-2025_114451 13:26

broker dealers. See, and that's the stuff, right? Financials as a whole, eh, kinda a blah. Although very close that is above a relative 200 day close to absolute. New highs might have all time closing highs today. Maybe not. We'll see right there, but yeah. Then you find these pockets like broker dealers and you said the ticker on That's I a I.

david_1_06-27-2025_104451 13:55

Yep.

ian_1_06-27-2025_114451 13:55

Yeah.

david_1_06-27-2025_104451 13:56

Yeah, looking strong. These are all risk on areas. What about like crypto or precious metals or

ian_1_06-27-2025_114451 14:05

So bitcoin's still pretty flat. Uh, still that's green. And Dan kind of struggling with. Seven. We are up on, we're green on the week but still struggling with 1 0 7, 1 0 8. Um, you know, we had pointed out, I know I did on Twitter. I don't know if we ever brought it up on here, didn't ever bring it up in a client letter, but the, bitcoin and its correlation to a portfolio that's 50% nasdaq, 50% gold,

david_1_06-27-2025_104451 14:40

Yeah.

ian_1_06-27-2025_114451 14:41

so pretty high correlation there. And we've seen Bitcoin trade sideways for a while itself, like we said, continues. I mean, we've been trying to get through 1 0 7 for about a month now. Since late-ish May. And so what, and we, and we just talked about NASDAQ's going higher. So what if I was to back, if I was to make this a math equation and back into it, NASDAQ's going higher, Bitcoin's flat. So what's that mean? The other 50% of the portfolio is likely doing, probably going down.

david_1_06-27-2025_104451 15:20

yeah.

ian_1_06-27-2025_114451 15:21

Gold. The gold piece is probably going down. That's what I would assume. We've seen that. We'll see if it turns into, it's been sideways, Gold's been sideways, is definitely looking a little lethargic. That's a tough word for me to use, considering the run it's been on. Definitely looking like this. Consolidation might last a while or maybe we go lower.

david_1_06-27-2025_104451 15:46

Well, and it, it

ian_1_06-27-2025_114451 15:46

but to me

david_1_06-27-2025_104451 15:48

pretty healthy for it to consolidate, considering the

ian_1_06-27-2025_114451 15:50

It would be, but I think it might be a headwind for, it feels weird to say. But if you like to use the Nasdaq Gold relationship, right, I don't think gold's a headwind for Bitcoin. Not in like any literal sense. It's not in, there's no gold in Bitcoin, but I do think that relationship tracks pretty well. And so, yeah, what is the, I I would assume the. Over the intermediate term, gold continues to underperform.

david_1_06-27-2025_104451 16:25

For the time being. I mean, it's, it's had a good run.

ian_1_06-27-2025_114451 16:27

It has.

david_1_06-27-2025_104451 16:28

good quality consolidation here, but we're back at levels, you know, that on a relative basis to s and p, we haven't seen since March. And I think that goes back to just the behavior of stocks from that, you know, from that point forward. You know, cooling off of stocks, but then a quick rebound. You're seeing

ian_1_06-27-2025_114451 16:49

Yeah.

david_1_06-27-2025_104451 16:50

inverse relationship there in that ratio of gold versus s and p and I, you know, I, that's happening with a, a weak trade, weighted dollar. And

ian_1_06-27-2025_114451 17:01

Yeah.

david_1_06-27-2025_104451 17:02

strength out of international currencies like the Euro

ian_1_06-27-2025_114451 17:06

Terrible week for the dollar.

david_1_06-27-2025_104451 17:07

Yeah, the British pound. So pretty, pretty strong. Characteristic for international

ian_1_06-27-2025_114451 17:14

So this means I never, I never understand how these, I'm, so we wanna be weak. Dollar means we don't, we don't want to go to, do we wanna go to Europe? Do we wanna travel right now or no?

david_1_06-27-2025_104451 17:28

yeah, I think, I think if you have the Euro is gaining a. Strength versus the dollar,

ian_1_06-27-2025_114451 17:34

I wanna exchange for euros, right?

david_1_06-27-2025_104451 17:37

though I think, I think it's the opposite,

ian_1_06-27-2025_114451 17:39

Oh, okay.

david_1_06-27-2025_104451 17:39

the yen. The yen had been in a a pretty massive drawdown versus the dollar, so it made sense to go convert your dollars to yen and go to Japan since January of 21. But now travel to Europe looks like it might be getting a little bit more expensive.

ian_1_06-27-2025_114451 17:57

You are staying home? Do I need to cancel my We, I mean, our family did have a lot of trips planned. Is very high. Oh, so high on the bucket list right now.

david_1_06-27-2025_104451 18:07

Sensing some sarcasm there. Ian,

ian_1_06-27-2025_114451 18:10

Guess I'll just stay home with my weak dollar.

david_1_06-27-2025_104451 18:13

ian_1_06-27-2025_114451 18:13

Okay, guess so. We're traveling the southeast this summer, boys.

david_1_06-27-2025_104451 18:18

maybe we'll just have an influx of Europe, Europeans coming here

ian_1_06-27-2025_114451 18:22

Oh gosh. Yeah. Are they gonna, no, I think we've done a good job convincing'em. It's terrible over here,

david_1_06-27-2025_104451 18:29

Why go

ian_1_06-27-2025_114451 18:29

so maybe I'll just stay.

david_1_06-27-2025_104451 18:30

can go to the Golden Coast? I mean, America's pretty awesome. I can't blame'em. I can't blame'em for

ian_1_06-27-2025_114451 18:37

It's the most awesome.

david_1_06-27-2025_104451 18:38

Yep. Double superlative. Love it.

ian_1_06-27-2025_114451 18:41

What about interest rates?

david_1_06-27-2025_104451 18:43

you know,

ian_1_06-27-2025_114451 18:44

Whatcha

david_1_06-27-2025_104451 18:44

Basically lower but in a range, like a 10 year yield is still in a range that begins back in September of 2023. And I just, I think that's interesting that's. the bottom for the last correction that 21, 22, end of 21, beginning of 22, correction, that correction ends in summer, fall of 23, and wouldn't, you know what that's interest rates have been in sideways since then, which goes back to market inputs. You know, if the cost of money is flat to borrow for credit. It's a stable rate environment. You don't have these large fluctuations where you're, you know, laddering and cycling in, whether it's company debt or cashflow needs that you're taking credit. It's, it is not a bad environment to have flat, a flat rate, whatever that rate is.

ian_1_06-27-2025_114451 19:40

I'd say, and there's definitely a, uh, a pretty broad belief out there that the Fed is gonna lower interest rates. I don't know. I don't know if the chart's really telling us that. Even this little, this latest little correction, I mean, 30 years sitting at, you know, we're down from a little over five to 4.8 feels pretty controlled.

david_1_06-27-2025_104451 20:04

Yeah,

ian_1_06-27-2025_114451 20:05

not I'm not, uh, quite buying that the Fed. If the Fed funds rate's gonna get lowered? I don't think so. We'll see. But the bond market, I don't think they're quite believing it either.

david_1_06-27-2025_104451 20:20

Well, and even the, the future fed funds rate, you know, 80% probability. Of a, of it being at 4, 2 5,

ian_1_06-27-2025_114451 20:32

david_1_06-27-2025_104451 20:33

0.5. So I, I mean, it just goes back to stable rates are not a bad thing. Yes, I understand. They're not the rates of a few years ago where you could get, you know, three mortgages. Those days are probably gone, but flat rates also fine. Those input costs, keeping'em, and, and even like triple C credit spreads, you know, uh, an indicator of liquidity continue to cool off, and that's a good sign market health. We have a, you mentioned a weak dollar, you know, DXY trade, trade weighted dollar, still below 100. I'm gonna be interested to see how that plays out in the months ahead, just because there is such strong short positioning on the dollar right now. But all we continue to see is it move lower and maybe those shorts will stack up and there'll be a sharp move in the dollar here sometime soon.

ian_1_06-27-2025_114451 21:24

Dot plots say lower rates

david_1_06-27-2025_104451 21:27

Dot plots.

ian_1_06-27-2025_114451 21:28

dot plots. Say we're getting 2, 2 25 basis point cuts this year. One next year, one in 2027.

david_1_06-27-2025_104451 21:40

Fascinating. I can't imagine anybody. I don't know

ian_1_06-27-2025_114451 21:44

I don't know why'd they stop at 2027,

david_1_06-27-2025_104451 21:46

Yeah.

ian_1_06-27-2025_114451 21:47

go out even further. Tell me what's gonna happen.

david_1_06-27-2025_104451 21:49

People love predictions. Dot plot. You kidding me? That's your investment process. A dot plot.

ian_1_06-27-2025_114451 21:57

What if your investment process was. War in the Middle East will make oil prices go up. That was a tough one.

david_1_06-27-2025_104451 22:07

Yep. That didn't happen.

ian_1_06-27-2025_114451 22:09

Now we're back down to where the failed break. I mean there was failed breakout break, failed breakdown, and we got back up above 67 crude futures, light crude futures to be exact.

david_1_06-27-2025_104451 22:23

Not to be

ian_1_06-27-2025_114451 22:24

We are back down to 65.

david_1_06-27-2025_104451 22:26

Yep. Well, and they, isn't it interesting that they were, they moved that quickly? Up than down. I mean, there's some volatility there for sure, but that the Middle East narrative, many investors I'm sure were thinking, oh, I better pile into gold. I better pile into oil. And those have done nothing but cool off over the past three weeks. That trade thesis did not work out. But yeah, rates 10 year yields and a range. You've got your more, uh, risk on type corporate convertibles like ICBT, uh, ETF. That's, it's kinda like the convertible bonds for your arc

ian_1_06-27-2025_114451 23:07

david_1_06-27-2025_104451 23:08

type stocks. I mean, ICBT is at the highest level we've seen since September or since, uh, 2021.

ian_1_06-27-2025_114451 23:15

Wow. Yeah.

david_1_06-27-2025_104451 23:18

that's going out at important levels. if it holds today, not exactly bearish and like HYG, high yield bonds highest since 2022. I mentioned Triple C credit spreads cooling off. So if you want to check boxes, there's quite a few of'em for a bullish market environment now.

ian_1_06-27-2025_114451 23:39

Well, I got, I got 16 on my 17 boxes. Check, Dave, I'm just waiting for this last one

david_1_06-27-2025_104451 23:46

That's right.

ian_1_06-27-2025_114451 23:47

and then I feel safe getting involved.

david_1_06-27-2025_104451 23:51

Right. I get it. you know, if it, if it's one of those, you know, when you think about the makeup of some of these indices, I. Apple being a big piece of the pie for the s and p 500 and the nasdaq. It's not like apple's crushing things out there, but as long as it's not going down, it's gonna be pretty hard to bring the market down further. But who knows? We could be on here in two weeks and

ian_1_06-27-2025_114451 24:19

It's all failed. Yeah.

david_1_06-27-2025_104451 24:20

and that would be. Indicator that, you know, maybe there's, there's an exhaustion in, in buying. But I mean, when you look at the nasdaq, you could make an argument that June 24th was a breakaway gap. Wouldn't that be something if that moved to new highs on a gap means we

ian_1_06-27-2025_114451 24:40

a lot of people still waiting for this gap to get filled back from, what was that weekend? Because that's how we got above the 200 day was that big gap on a Monday? Yeah. May 12th.

david_1_06-27-2025_104451 24:51

a big clue. That was a big clue. The fact that we were at the volume weighted average price. We were at the 200 day, we were at prior resistance. And the fact that we gapped right through that, people might remember an episode back then called Hot Knife through Butter. That's what that was. And that was information that, okay have control of this market and there's gonna be some pretty hurt shorts out there. And that's all we've seen since that point forward. Does it continue? I have no idea. But the more this market moves like this, the more hurt there is for those who have been on uninvolved because of narratives or uninvolved because the market's too high. Eventually the pain takes over and, and people capitulate and wouldn't, you know it, that's, it's when people capitulate and stop shorting and pile in, that, that's typically when the show is over. So we'll see. You got any big, uh, 4th of July plans? I.

ian_1_06-27-2025_114451 25:45

Family probably try to find a new um. We gotta fi well find some stuff locally in our new town. You would love. You would love Belmont. It's very West Benish.

david_1_06-27-2025_104451 25:57

Oh, nice.

ian_1_06-27-2025_114451 25:59

I think there'll be a lot of cool local things going on that we'll definitely be checking out.

david_1_06-27-2025_104451 26:06

Yeah, maybe a parade. Maybe a 4th of July

ian_1_06-27-2025_114451 26:08

Yeah. Parade, local fireworks show. Something good. Probably something out on the lake. I'm sure they'll have some firework shows.

david_1_06-27-2025_104451 26:19

You know,

ian_1_06-27-2025_114451 26:20

We don't have a boat yet to, uh, go out and watch that, but

david_1_06-27-2025_104451 26:24

okay.

ian_1_06-27-2025_114451 26:25

we'll find somewhere.

david_1_06-27-2025_104451 26:26

A lot of boat owners leave their keys in there.

ian_1_06-27-2025_114451 26:29

Yeah.

david_1_06-27-2025_104451 26:30

I found out a, a sad and interesting thing. I've, I've been married to my, my wife for 24 years, and I just found this out the other day.

ian_1_06-27-2025_114451 26:37

You just found out it's been 24.

david_1_06-27-2025_104451 26:40

No, but I, it's just a piece of information I didn't know, and I've been married to her for 24 years, is that she likes firework shows, but not when I put them on. She's afraid I'm gonna blow myself up.

ian_1_06-27-2025_114451 26:54

Yeah, she wants to enjoy them with you.

david_1_06-27-2025_104451 26:56

Yeah. Yeah. That's probably, yeah, that's probably it.

ian_1_06-27-2025_114451 27:00

She said, I don't want Dave running the back office. I want him. Out here mingling.

david_1_06-27-2025_104451 27:06

I appreciate that. Put the best construction on that.'cause we

ian_1_06-27-2025_114451 27:09

Yeah.

david_1_06-27-2025_104451 27:09

a fireworks tent and I'm like, we should pull over and get some fireworks for up north. And she got, oh, I, I, I don't like fireworks that much, especially when you do that. I was like, oh, you don't like my pyrotechnics. What guy doesn't like fireworks? Girls, I can

ian_1_06-27-2025_114451 27:24

Yeah.

david_1_06-27-2025_104451 27:24

but that might have to be like an opening interview question or like, whether I'm gonna be, you know, whether our, our friendship's gonna have a lasting standing is, do you like fireworks? Because my wife likes fireworks, so that's, that's gonna be long standing. It's just if I do them. But yeah, you gotta do fireworks on the 4th of July.

ian_1_06-27-2025_114451 27:41

Have to.

david_1_06-27-2025_104451 27:42

I gotta celebrate that independence kicking the red coats outta here, living in

ian_1_06-27-2025_114451 27:47

look at'em. Look what they've become over there.

david_1_06-27-2025_104451 27:50

Yep. Crazy. But anyway, I appreciate you doing this again with me, Ian. I, I hope you and all our listeners have a wonder, fourth, 4th of July. I don't know if we'll have an episode next week if we don't. Obviously we'll be back in two weeks with fourth being next Friday. Uh, I hope everyone enjoys that and re remembers the, all the freedoms that we have here. Obviously I, I'm very thankful and I think, I think America is fantastic. So I hope everybody gets to enjoy that.

ian_1_06-27-2025_114451 28:18

Yeah, I hope you have a great time with the family.

david_1_06-27-2025_104451 28:21

I will. One of my favorite places on Earth. It's gonna be great. I. Well, thanks for doing this with me, Ian. To those listening, please give us a high ranking on your platform of choice. Share it with your friends. Uh, it's like putting on a firework show when you do that for us. We really appreciate it.

ian_1_06-27-2025_114451 28:35

Have a great weekend everyone.