00:00What's your take on the malaise or maybe the rotation that we've seen? Does this have more
00:06to do with getting ready for a SpaceX IPO or do investors take from things like Broadcom
00:13and CrowdStrike that were just overbought here? Well, if you really look at the distribution of
00:20how the market has been performing, technology has been one of the best performing and from a
00:25technical standpoint is extremely overbought. Now, can you have some repositioning happening?
00:32Certainly some people might be repositioning, getting ready for the SpaceX IPO, but tech was
00:38way overdue for a pullback, particularly the semiconductors, which I've been a very big fan
00:42of and I still am, but I think they just got a little over their skis. We're getting a little
00:48bit of consolidation that I think eventually will allow us to continue the rally. So, you
00:55know, some temporary setback to reset the market and maybe we'll be reset by the time we get
01:04the launch of SpaceX. How do you see the launch of SpaceX, that IPO and the behemoths that are
01:13to follow, OpenAI and Anthropic, affecting this equity market? I mean, do they suck up liquidity?
01:19Do, you know, industry adjacent stocks get sold off by PMs? I think this market, because we really
01:28haven't had a lot of IPOs, is really, really looking for some good companies and good IPOs. Now,
01:35obviously, SpaceX is going to be one of the largest and most famous IPOs, but I think the market can
01:44handle a lot more. There's still a lot of cash on the sidelines. So, I'm really looking forward to
01:50having the ability to talk about other companies other than the Mac 7, to be quite honest with you.
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