Keith Richards :
Today we have a special guest. As you know, I often like to interview people in the industry and sometimes even people outside of the industry for different perspectives on the world of investing. Today we’re going to be talking to a man who I’ve known for quite a few years. I don’t even know how many years I’ve known John, but his name is John Copp and he is kind of a specialist in a technique of technical analysis that I personally don’t use. See, one of the things I do with Smart Money, Dumb Money is I bring in people that are not me. You can hear all about traditional technical analysis and whatnot from me.
So I don’t need to bring somebody in that is just going to echo what I already talk about. I like bringing in people like John because John talks about something that, to me, is an interesting, newer way of looking at charts. Although, as John will explain, it’s not that new of a way of looking at charts at all. I’m going to give him a bit of an introduction and then we’ll say hello. John’s been trading for 40 years and he was an advisor with RBC and he was kind of part of the team doing technical analysis at that point. He’s a CMT like myself, a target market technician. He has also, like myself, shown up at the Money Show and appeared in magazine articles and stuff. So John’s got a bit of a history in the industry which is how I got to know him. So John, welcome to the show and thank you for coming.
John Copp :
Well, thank you Keith. It’s great to be here.
John Copp :
Okay. Really quickly, I started in the industry in the early eighties with Richards and Greenshields so I go back quite a ways. I quickly realized that charting offered a better way of analyzing market and stocks to me. I quickly learned that fundamental mostly followed the stock higher, moving their targets up and then when this stock went down they eventually say, well, we don’t like this, we’ve got to get out, which was usually at the bottom. Back when I first started Three Computers, we didn’t have charts in front of us like we do now. So every Monday morning, we used to get an actual physical book of charts from the previous week. The first guy in the office got the charts so you had to get up pretty early on Mondays to get those. So I decided, well, this was even a little slow, so why don’t I draw some charts by hand?
So I started doing that and that became a very long process going through all the charts back then. You went through the TSE, the major stocks in the TSE and in the markets and all the different markets. Then I thought, I’ve got to find a better way to do this. So I came across point and figure charts. One of the advantages of point and figure charts is they don’t require you to put entries in every day. Point and figure chart eliminates a lot of noise so you’re really only charting significant moves. They’re much faster to update. Aat the end of the day, I could update a hundred charts in 10 to 15 minutes. So it really was the perfect thing for me anyway. And you know, as I said, there were no computers back then, so it was a great way to keep in touch with what’s going on in the market. The other thing with hand charting is you’ll see things that you miss when you’re looking at a chart on a computer screen because you actually put the entry, you go, well that’s interesting. I’m going to make a little note and keep an eye on what that develops into. You can go through a hundred charts on a computer and miss half of this stuff that’s important on that.
Keith Richards :
Yeah, exactly John. First of all, you’re talking about the red and blue books of charts and that is how I think all technical analysts, I myself as well, when I was introduced to technical analysis I was with Midland Walwyn at the time, a now defunct company. I talked to the top guy there and he was into charting and he introduced me to those red and blue books and I got a subscription and read William O’Neill’s book and all that stuff. I want to ask you and yes, I think both of us have both hand bombed the charts. You might know or remember Dennis Mark from National Bank. He was actually with Midland Walwyn during my era, and Merrill Lynch and all them. He told me originally that even when you could get charts, like the chart books, he would always hand bomb them because like what you just said, you got more of a feel for it. So why don’t you walk us through how point and figure charts are constructed. Give us the basics.
John Copp :
Sure. I’m going to switch here to point and figure charts.
Just a quick view here. It first appeared in about 1898, and at that time they were called figure charts and figure charts were generally used by floor traders. What they would do is on a vertical axis, they would just write a price down. So as the price went up, they would add higher numbers, you know, 14, 16, 18, whatever and then as the prices went down, they would do the reverse. They’d start writing them lower on the paper. Trouble with that is you would get gaps so they were pretty awkward to use. In 1910, Richard Wykoff wrote a book called Figures Under the name of Rolo. He never originally used his own name. Then in the thirties point and figure actually replaced figure charts and point and figure, as on the screen there, are columns of X’s and O’s.
X’s are going up, O’s are coming down. Now, simply what you see on this chart is, this is a CIBC chart, just happens to be, and you can see here we’re in a column of X’s. That means the price is going up. The four in this last box actually represents the month of April. So this box was entered in April. If we go back here, there’s a one in January. You can see December. So what happens, because there’s only nine months, October, November, December are A, B, and C. You can see here this “C” that at that point, CIBC started to go down. So in October we were going down, reverse back up in January and then stayed up in March.
Now in April, we went back down. Now in April, we’re starting back up. Quickly, what happens is this is being dominated by Xs right now, which means that positive is dominant. So to continue going up, we just need to go up one box. So when this stock touches 58.65, my eyes are going, we will add another X then we will continue as long as it keeps going up. Every time there’s a box, the price goes up, we fill another box. That’s dominant. Now, to reverse back down into O’s, we need three boxes. It’s called the three box reversal method. So from this particular chart here, which is at 58.06, if we went to 56.36, we would reverse down, but only if there was not an X put in. So really, we look at highs and lows. So the X is being dominant. If we do not have a price to add another X, we then look, do we have enough to lower it three boxes? So in this case, can we go to 58.65? No. Okay, can we go to 56.36? No. No entry on the day. Move to the next chart. If we do have volatility and we hit 58.36, or let’s say we go to 60.42 on that day, that would add four boxes. Game over. Once that’s in, it’s being dominant, there is no chance to reverse. We’ve hit the dominant.
Keith Richards :
So, John, can I ask you a quick question? So the box size in this case is what?
John Copp :
This box is actually 1%.
Keith Richards :
Oh, so you’re using the percentage.
John Copp :
I’m using a percentage, and I’ll quickly touch actually on that. Most software has what’s called a traditional box. Problem with traditional box size is that you have at below $5, the box size is 25 cents. When it goes above $5, the box size, all of a sudden it will go to 50 cents, and then above $20 it goes to a dollar. The problem with that, and I’ll show you on this chart right here. You can see this chart here, that down here each box is moving. You can see that down here, these boxes are moving at 25 cents for each box. Then all of a sudden up here, they start to move 50 cents each box. And then when you get above 20, they’re moving a dollar each box.
Very complicated to do that or to figure out what’s going on. So what we’ve done is we’ve gone to percentage charts, and here we’ve got a 1% chart. So each move has to be 1%. So if the stock goes up 1% in the day, we’ll add another X. If it doesn’t go up 1% a day, we’ll look, okay, is it down 3% on the day? Which would be enough for the three point reversal? If that happened, we would reverse to O’s and therefore, the O would become dominant. So tomorrow, are we down 1% in the O’s? No. Are we up 3% on the X’s? So can we reverse back from X’s to O’s? Does that make sense or does that just confuse you a bit?
Keith Richards :
No, that’s good. So effectively the way point and figure works is that unlike a regular bar chart where if the price today is $5 and it goes to $5.10, well, you see it the next day at $5. 10 with the close being 10 cents higher. In a point figure, it takes some of that noise out because it says, no, no, you need a 1% movement on that. So I guess in a $5 stock, it wouldn’t matter. But if it’s a hundred dollars stock and it moved up 10 cents, that wasn’t 1%. So you take out some of the really small noise with point and figure charts. Now carrying it further, what I’m reading here from you, John, is that instead of using box sizes, because like you said, the problem is when the price was small, there was a 25 cent box, and when the price went to 20 bucks, it started moving into much larger box sizes. You’re using the equivalent of what we in the bar charts and candlesticks world call logarithmic versus just straight up because you’re now using a percentage, and of course a percentage of a hundred dollars is a bigger price than a percentage of a $1 stock. So this makes a hundred percent sense and you’re really still filtering out the noise of these small nooks. So am I interpreting that correctly?
John Copp :
That’s right. That’s exactly what we do. The reason we use point and figure charts is to get rid of all the noise, which nowadays is pretty important. It’s essentially a logarithmic chart. Makes much more sense when you’re looking at it than the traditional. And where this really gets interesting is in a bit here, we’ll talk about objectives, targets that you use with point and figure. Point and figure is the best method really for targeting where the price is going, minimum target of where you think the price is going and it’s really interesting. Over the years, I’ve noticed a lot of fundamental analysts, when they’ll come on, they’ll give a price target and if you go to point and figure, you’ll find it is exactly what the point and figure chart says. So I think a lot of fundamentalists are closet technicians, quite frankly.
Keith Richards :
Absolutely.
John Copp :
Yeah and I always said is if your money manager isn’t looking at a chart before he hits the buy or the sell button, he’s either lying or he’s going to go to the bottom of the ranking pretty quick.
Keith Richards :
Yeah, yeah, exactly. Yeah.
John Copp :
So that’s the reason I use point and figure charts is they’re easier to see. The other thing too, as you can see here, with a point and figure chart, you either have it on a buy signal or a sell signal. Now a buy signal with point and figure is when a column of X’s goes above a previous column of X’s. So that X right there is a buy signal. That X right there is another buy signal. This O here is a sell signal.
Keith Richards :
Right.
John Copp :
Now, one of the problems with point and figure that you have to pay attention to is that sell signal can be a 1 cent move. It can be an insignificant move. So typically a point and figure guy, I’ll go and I’ll look at the bar chart and say, is that a real move? This here is an example. It’s a 1% move, but how much of a move is it? Same as a technician when you’re looking at a trend line, you say, okay, it went through by a couple cents. Is that really a break of the trend line? Now, as both Keith and I know you do not draw trend lines with sharp pencils, you typically use a crayon because, you want to make sure the move is significant. Now the other interesting thing is when you do go to a percentage chart too, they mean a lot more. If you’re on a traditional chart, one penny move into that new box can be significant. With the percentage chart, you know it’s moved 1% from the previous signal.
Lots of things we can do with this chart here. Now you can see here we’ve got a sell signal, but we also know, hey, this has been up here, it’s been up here. You can draw trend lines on there. You can see this is a buy signal from a lower level. So depending whether you’re a trader or investor, you still have to interpret it, but it’s either on a buy signal or it’s on a sell signal.
Keith Richards :
So just actually John, I’ll interject here. Most of the viewers of this video are my blog readers and one of the things I talk about, in fact, I’ve written about it in a few books that I’ve written and in my trading course and whatnot that I’ve done, and I talk about it on the blog that I have a rule, and the rule is sort of like what point figure is doing to try to filter out the noise. So when we talk about a breakout, like you were just looking at, so this X, we had a 1% move. That qualified for a new X, that X went above the last X and therefore, that’s called the breakout according to point and figure. I use a rule that says, okay, I’m going to wait for that breakout to last a minimum of three days up to three weeks.
Mine’s a time-based rule, okay? So it’s got to last a while. The minimum three days is a very short term perspective so I like to see about a week anyways. So that’s a time-based factor just to make sure you don’t get whipsawed on that breakout. You’re talking about using percentages. Because point and figures aren’t as time orientated as say I am with traditional charts, they’re more price orientated, so would you not just say, well I don’t want to get whipsawed by this small move. 1% may sound impressive, but then it could reverse two days later because you know the markets 1% is nothing. So you could say, well what if we made it 3% or something like that. So to avoid whipsaws, is that a valid point?
John Copp :
That is a very valid point and let’s play with this chart and show you exactly what happens there. This is a 1% chart, I’ll change it to a 2% chart. Now we’re in a column of X’s, but we do not yet have a buy signal.
Keith Richards :
You got it.
John Copp :
Exactly there. Or we want to get really smart, and I’m going to touch on this in a minute too on something else. We can make it even faster by going to a half. Whoops, that didn’t work. That gave me a 5% signal. I was trying to get a half a percent signal. Totally different chart. So really what you’re doing, you can speed up or slow down your chart. In your case, Keith, it makes a lot of sense to go maybe to a 2 or 3% chart just to make sure and wait for that signal to confirm which on the 2% it will do. It hasn’t yet done it. So you say, okay, I’m going to wait till it gets the 63.28 before I buy or whatever your rule is there.
Keith Richards :
Yeah.
John Copp :
Yeah. Totally different chart though. Let me get back to my presentation. So as you can see, we’ve got a buy signal there. Go ahead.
Keith Richards :
I do want to poke you for two things of your notes that you sent me originally before our interview here. Two things that intrigued me. Number one was, you mentioned it just recently, price objective, so targets. So do you want to carry on? Because I’m interested and I think our viewers are like, well how do we know where a stock’s going? That’s a really good question. People are always asking where’s it going to go?
John Copp :
Exactly, exactly.
Keith Richards :
How do you determine that?
John Copp :
This chart Power Corporation. So what happened, and you can see this is a 1% chart and this was a beautiful chart. If we looked at a traditional chart as Keith would do, you’d say this thing was consolidated for a long time sideways, then all of a sudden we had a breakout of consolidation and we’ve got a massive move there. So what happens with objectives your bullish price objective in this case is once you’ve had a break code, you wait for a correction. Then once you get the correction and then reverse back up, you count the number of boxes in the correction. So in this case it’s eight or nine, I guess actually 10 boxes. You then add three times that value you add to the next turn up X. So when it turns back up to X, you would add 10.
So you’d add 30 to that 33 and that essentially will give you your target range, which is up here. You can see that the objective, and I won’t get into the mathematics as much there because it’s gets a little complicated, but you can see that the target on this is that this stock should go to a minimum of 47.48, which is way up here. So that’s a pretty aggressive target. Same thing with a down. Right here you’ve got a fresh sell signal back here and whenever that was, it was in the fall, then turned up you would count those number of X’s and you would add two times in a bearish to get your negative target here.
Keith Richards :
Can I ask a question?
John Copp :
Yes.
Keith Richards :
So that price objective of 47 and a half dollars or so.
John Copp :
Yes.
Keith Richards :
That was based on that original breakout. So we were looking at a consolidation. Like you said, it looks like a very traditional here’s the lid, the ceiling resistance, whatever you want to call it and then it broke out and it broke out with conviction and it moved like many, many, many X’s. So this is obviously being done on stockcharts.com.
John Copp :
Yes it is.
Keith Richards :
It’s a program that’s doing this. But what made them choose that versus using the most recent level of X’s to target that $47. Like how does it decide?
John Copp :
It stays on that target until we get a sell signal.
Keith Richards :
Okay.
John Copp :
So if we got a sell signal here, which we haven’t had, which is a lower O, that would reverse it to a bearish objective.
Keith Richards :
Right, lower low than that.
John Copp :
Lower low, exactly.
Keith Richards :
Okay. Alright.
John Copp :
So that target will stay there until we get a lower low.
Keith Richards :
Okay. This is why I have you John, because I’m learning too. Again, I know enough to be dangerous with point and figure .
John Copp :
Hopefully after this you’ll won’t be as dangerous.
Keith Richards :
I’m consciously incompetent on point and figure.
John Copp :
Exactly. We’ll go with that one here. So this will lead me into the next thing which is risk reward calculations. You say, okay, I’ve got that target. Now that’s a minimum objective. So you are assuming that at some point and as Keith said, time doesn’t really enter into point and figure chart. We put time, dates, months on here, as I said, like the four and the three just as a reference to when did that happen. So we can see that in December this was up there. But we’re going to assume that 47.50 is our price objective. So say I bought that stock at 35.60, I’m going to use as an example cause this is updated for today and I did this over the weekend, but say I could have bought that stock today for 35.60. So the difference between the price objective and what I paid is $11.90. So I can make, if that stock goes to a target, I have made $11.90. So what’s my risk? Well my risk is that it goes on a sell signal, which would be 33.60 here. I’d put my stop at 33.90. For my calculations, let’s just say my stop would be a double O at 32.90.
Keith Richards :
32.90 I think it’s at, right around that.
John Copp :
Yes. So I made a mistake here and I put 33 on my calculations, but essentially I have a loss from 35.60 to 33. Excuse me while I take out my calculator because my notes are wrong here. So 35.60 was my cost and 32.90 is my stop. So I would lose $2.70 cents if I got stopped out of this stock, but my upside was 11.90, which means I have a 4.4, almost 4.5% reward advantage over my risk. So my risk reward on that is 4.4 to 1. Yeah, that’s a very good trade. As a trader, I want a minimum of three times upside to one downside.
Keith Richards :
Okay, good.
John Copp :
Does that make sense?
Keith Richards :
Yeah, so there’s a key advantage, John, of point and figure is that it’s well spelled out. I mean, it all comes down to, and this is the one, again, here’s my dangerous level of point and figure knowledge, but you really have to do a good job on choosing your box size or box percentage size in your preferred way of doing it. And that’s really going to be based on your timeframe. But once you’ve done that and you sort of know the stock, you know it’s volatility so you’ve chosen a reasonably appropriate box size, you now have a very numerical way of doing things. You say, okay, well look, this is my target and this is my downside. Off you go and you just do the trade and you know you’ll stay with the trade unless that downside is cracked and then you go, okay, well that’s the number got to go. So that’s a great system because it quantifies things and anybody that knows me from reading my blogs and stuff, I’m a believer in quantification of stuff. I don’t like opinions. I like a process. So this is ideal, absolutely ideal.
John Copp :
Yeah. It really is and with using stock charts, as you can see here, they give the objectives there. I can quickly see where my stop would be so I can run through all, say the TSC 60, I can go through 15 – 20 minutes, look at them. Generally I can see now in this case where if I’m buying up here and my stops down here, you know darn well that it’s so far down till you hit your stop that it is not a good trade there. You really want it as tight as possible.
Keith Richards :
Yes.
John Copp :
Yeah.
Keith Richards :
That makes sense.
John Copp :
Yeah, it is a great way to trade and you have to be disciplined. You put your price in there and if you get stopped out, move to the next one. But having at least a three to one risk reward ratio just makes you comfortable because over time your wins are going to be much better than your losses.
Keith Richards :
Excellent. Okay. Again, we’re quantifying things, which makes me all happy. Bullish percentage charts. In your notes you mentioned that so please bring us through that.
John Copp :
Yeah, so what a bullish percent simply is the percentage of stocks in an index that are on a point and figure buy signal. As I said earlier, point and figure you are either on a buy or a sell. So a bullish percent, so S&P 500, which is not 500 stocks incidentally but we’ll assume it is 500, if 250 of them are on a buy signal, the bullish percent would be 50%. If a hundred of the 500 were on, the bullish percent would be 20. It’s really a good indicator. It’s a breadth indicator. It’s really what it’s telling you. If you were to do it on an index, I’ll use the TSX here. Right now the TSX, 59.5% of the stocks in the TSX index are on a buy signal, pretty neutral. Hangs around here a lot.
You generally don’t get many more than 80% of the stocks in the TSE on a buy signal at one any one time. It’s because there’s a lot of junk in there and getting down here at this time to 8%, that meant essentially everything is on a sell signal when you get down to 8%. Interestingly, if you look at the NASDAQ, there’s a lot more garbage, believe it or not, in the NASDAQ index. So it’s very common for the NASDAQ to top out in the mid-seventies range. But this just gives you an idea of the breadth. Now if you watch BNN, you’ll see David Burrows on a lot who’s a point and figure guy, and he will talk about the NYA, which is essentially the New York Stock Exchange bullish percent, and that’s about 3,500 stocks. Right now, interestingly, it’s at 50 so half of them are on buy, half of them are on sell.
So it’s a good way of measuring breadth. That’s what you’re really looking at. A lot of times right now it’s pretty common is the markets being driven, especially in an asset, is being driven by a handful of stocks. Not a lot of great breadths. Not every stock is participating in the run. You’ve got your Apple, your Microsoft, the big guys. The generals are leading the war here. So what I’ve done here is, in this case, I’m looking at the energy, which is a fairly topical subject right now. In the S&P Energy Index, it’s in a column of O’s right now. It’s getting worse but it’s down to 61% of the stocks are on a buy signal.
Quite interesting when you think about that because the companies are generally doing better than the oil is itself. It’s kind of an anomaly there. But you can see when oil went negative here, you actually got down to where only 9% of the stocks were actually on a buy signal. Bullish percent is kind of similar and I’m not sure, Keith may have talked to this is, with an RSI people talk about below 30 is oversold above 70 is overbought. I can remember Tom Dorsey, who I trained with, used to say that once you get below 30, everybody who wanted to sell has sold and once you get above 70, everybody who wanted to buy has bought. The problem is, as a technician, you know that oversold and overbought can stay oversold and overbought for a long time and they can go a lot worse than you think. In fact, a, some trading technicians will look at when a indicator such as RSI goes above 70, that’s actually a buy signal because you’ve got so much momentum in the index. But you have to also look. Energy is interesting because you get times when 100% of every single stock in the oil index is going up. It’s in a column of X’s, it’s on a buy sale, and you get times when almost all of them are on sell signals. Very, very volatile sector.
Keith Richards :
I’ll just interject. To me, John, this seems to be using the bullish percent charts or even an oscillator like RSI, you could look for extremes. Like the points you just showed, for example, in 2020 when almost nothing was on a buy signal. Well that was actually the bottom of the market and then when you get to these points, like end of 2021, where you just couldn’t go wrong. Buy and hold was the way and things like that. I mean, every stock is going up and that became an overbought point, right? So it seems to me that these charts, if there’s a certain level when there’s “too many”, the column of X’s is too high or the column of O’s is too low, that can actually be a contrarian signal. Is that correct?
John Copp :
Yes, yes it is. You’re dead on there. You really get a feel for what’s going on in the individual sector, which is important. Unfortunately, we don’t have a lot of Canadian sector data so you generally follow the S&P sectors to get an idea because usually if energy is doing good in the US, it’s doing good in Canada. So one thing that I do, and some of the people that follow me on Twitter will know is, I will go through and I will look at all the sectors in the S&P 500 sectors. I’ll go through here and communication is in a column of O’s. I can just quickly go through there. Real estate is in a column of X’s mid-range. Nothing is really oversold or overbought in this. Discretionary, infotech, and I talked about it there.
But this is where we go back to where we talked about speeding up the charts. These are 2% charts, which are typically used in bullish percent indicators. That’s kind of the default. You can see here energy just reversed back down there. Staples are going up. There was a couple weeks ago where everything was in X’s. Then all of a sudden a couple weeks later, everything will be in O’s. Crazy volatility going in the market here now. But this is a great thing is, as well as look at the 2%, I will speed the charts up to 1% and what this does is gives me a clue of what’s going to be happening. So when I see all of a sudden a couple of the 1% charts reverse direction, I know, hey, there’s a good chance the slower 2% charts are also going to change direction. That’s just a way it goes back to the speeding up the charts or slowing the charts down. The bullish percent, you really can’t go to a 5%. You don’t get that much of a move in the things, but this gives you a good idea and, as you know, if you’re a trader, you want to look for the sector that’s good. You then want to go in and look for the best stocks to trade in that particular sector.
Keith Richards :
Exactly.
John Copp :
Yeah.
Keith Richards :
Okay, well actually John, you could un-share the screen or whatever now and we’ll go back to our normal. All right, well that’s awesome. So when you take your CMT , we both got our CMT designations, you have to run through everything. You even have to learn GAN, who uses GAN. But you had to learn some GAN. You had to learn another way. You had to learn point and figure, candlesticks, whatever, to get through the course. One of the things that I’ve always felt is that point and figure can help simplify your life and I think you’ve just given a pretty good case for that. What I got out of this today, John, is that it’s a probably a pretty good way because I do sector analysis just like most technical people do.
You know, you rip through the sectors trying to look for what might be emerging and whatnot. I think I’m going to try to take a look at some of these PNF sector charts to see it might present a little bit easier picture for me to look at in a hurry because I’m a big believer in sector rotations. So that’s great. I hope other people got as much out of this as I did. Is there anything you wanted to finish up with?
John Copp :
Yeah, if you’re sort of interested in learning more or looking for a book, probably one of the better simple books on point and figures, Tom Dorsey’s which is called Point and Figure Charting and you can buy any edition. They’re all pretty well the same. Tom has a habit of updating his edition every two years but adds a couple sentences. It’s all good. Tom’s a great guy. I really like Tom. So if you can get an old edition, even the first or second edition cheap, buy it. It’s a great book. The only difference is Tom only uses traditional box sizes. He doesn’t get into the percentage charts on that. You can go to Stockcharts and there are some great tutorials on that, but learn to use the percentage charts much more useful.
I’ve always said about using the traditional as Tom does, if I sell yellow Volkswagens, everybody needs a yellow Volkswagen. So that’s all that Tom writes about but that’s a great book. For somebody that gets really deep in the bushes, Jeremy du Plessis has a book that came out in 2005 on technical analysis, but it’s a reference only book. No one has ever read the book cover to cover. It’s a great place to go when you’re stumped on something there. But Stockcharts is, and I’m not pushing necessarily other than I’ve used them for years, they have some great videos and tutorials on using point and figure. Really good stuff. You can always contact me through Keith and I’ll answer questions if you have anything more than that.
Keith Richards :
You mentioned you have a Twitter account, so how do people follow you on Twitter?
John Copp :
I’m going to have to look and see what my name is.
Keith Richards :
Yeah.
John Copp :
That’s on Twitter. Cause I unfortunately go on Twitter too often and get in too many rabbit holes and I should avoid them. But it is @Coppjc.
Keith Richards :
Excellent. Okay.
John Copp :
I am more than happy to answer any questions.
Keith Richards :
That’s awesome. So thanks for giving us a learning on technical analysis. I think we got a lot out of this and I’m definitely inspired to definitely use it for sector rotation. I think that’s another tool in the toolbox. So I hope everybody else got as much out of this as I did and we’ll maybe have you on again sometime.
John Copp :
Perfect. More than happy to.
Keith Richards :
All right.
