Transcript: Learn with Investor’s Edge – New trading features

Good afternoon everyone and welcome.

My name is Robert Vitullo and I have the

privilege of spending the next little while discussing the new

trading features which were recently added to our online trading

platform. So you would have received a bit of background

information about me in the invitation for this event,

which my partner refers to is more of an online

dating profile than an actual bio.

Anyway, what do you do today is I'm going to

review these new features with you.

Go over how these enhancements differ from what we previously

offered.

Greater than demonstrate how to enter these orders online.

Also show you where you can access learning materials related

to these changes and finally,

time permitting, close off the session with a question answer.

Well, I hope you find this session helpful.

Anything said in today's presentation or securities using the platform

demonstrations,

is for information purposes and does not constitute as advice.

So on May 10th we introduce a number of enhancements

to our platform,

including three trading strategies that are now available online.

Longer, good through orders, and the introduction of buying power.

Of the three trading strategies that were recently introduced.

Two have always been available to clients,

but orders had to be phoned in in place with

a live investment representative.

So those two trains that strategies.

Are short selling and writing covered put options.

The ability to place a trailing stop limit order is

brand new to investors Edge and I'm going to go

over both the theory and how trailing stop limits work.

And then of course demonstrate the application of this strategy

with our platform.

Prior to May 10th, if you were placing a limit

order to sell or buy a stock,

that order was only valid up to 30 days.

Since then, we've extended the order duration for up

to 90 days,

provided of course, that the expire date of the order

falls on a trading session,

meaning not on a weekend or a statutory holiday.

So you may have noticed in the past that the

US and Canadian markets share some market closures on statutory

holidays like Christmas,

but there are others where one remains open like the

US markets do on Boxing Day.

Early in my career, I always seem to work Boxing

Day and it was always surprised at how many calls

we would actually get at a time where many Canadians

would be out shopping for bargains at the malls or

spending time with friends and family.

It was only then where I truly understood the famous

Michael Douglass quote from Wall Street.

Money never sleeps.

So when we first launched the new enhancements,

we were not able to accept,

buy or sell orders or market buy or sell orders.

I should say prior to five minutes before open.

As of last week, I'm pleased to announce.

This has been amended and we now have that ability,

so again, you can enter orders before the market opens

and there are no issues there.

Lastly, we have the introduct Sir.

Lastly, we have the introduction of buying power.

Which replaced our previous logic related to how much cash

or margin was in your account.

Now, in order to introduce the buying power logic onto

the platform,

we unfortunately had to remove the ability to settle trades

to and from your bank account.

However, the result is accomplished more account transparency,

which I'll go over. Which prevents errors and also offers

a more timely order execution,

which is of course what clients like yourself desire.

So before we get into the new trading strategies that

are previously mentioned,

let's take a deeper look into what makes up your

buying power.

So what is buying power?

Simply stated, your buying power is an estimated calculation of

the funds you have available in your Investors Edge account

to purchase securities.

Now there are five components to buying power.

The cash you have in your account pending cash transfers

out.

Open orders that decrease buying power loan value for marginal

securities.

If you're operating using a margin account and filled orders

prior to their settlement.

This is a major upgrade from our previous offering as

he now have again much more transparency with how much

you have in your account to invest.

So if you're like myself and have a habit of

putting in long data limit orders and leaving them in

there,

the buying power will automatically take those orders into account

so that you do not overextend yourself when looking to

place new orders.

For example. If I had $10,000 in cash in my

tax free savings account,

and I put a limit order to buy $3000 worth

of CNBC stock at whatever price,

call it $130 today. I'm going to make this order

good for 30 days,

so whether that order gets filled or not on our

new platform,

your buying power will be reduced by that $3000 amount

so that you are left with $7000 of buying power.

Previous to our new enhancements,

if you were to enter that same order,

which remains unfilled. You may be tempted to put another

order to purchase CBC stock the following week.

This time for $9000. Now your account shows that you

still have $10,000 cash available.

Yet when you go to place at $9000 order to

buy CIBC,

you receive a notice that your order has been rejected

and then of course you're calling us and asking why.

The answer is because if you were to be filled

on both your $3000 limit order that you had entered

last week and your 9000 order that you just placed.

If both were filled, you'd be in a negative $2000

cash position,

which of course neither our regulators nor the Canada Revenue

Agency would particularly appreciate.

Now let's take a look at short selling.

So a lot of you have probably seen a movie,

television show or news clip referencing short selling.

The big short highlights the events of 2008 and a

few investments who handsomely profited off of betting against the

market.

But what is short selling well?

The big short had Margot Robbie explained,

short selling. Unfortunately you only have me.

In other words, shorting a stock is an investment or

trading strategy that speculates on the decline in a stock's

price.

It involves borrowing shares of that company,

selling them on the open market with the hopes of

buying them back at lower prices at some point into

the future.

So you're essentially betting on an profiting from a drop

in a securities price.

Any strategy which culminates in profits from adverse price movements

in a Stocker security is referred to as a short

strategy.

So this can be contrasted with long investors who want

the price to go up.

You know the old adage of buy low sell high

this is sell high buy low.

So I have a friend who compares short selling 2

to betting the under in an NFL football match.

Meaning you're cheering for a low scoring affair or in

his eyes,

a terrible game with stocks.

Of course, you're cheering for the market to go down.

Now you might be thinking at this time if I'm

selling a stock and have the cash in my account,

because again, you're collecting the proceeds from that short sale.

What is the risk associated with short selling?

You know, I could just hold onto my short possession

forever if it goes the other way on me,

is that correct? Unfortunately, that's not quite how it works.

First off, short selling can only be done in a

margin account,

why? 'cause when you short a stock you have to

post margin for that short.

Given that you're selling something that you technically doesn't belong

to you.

You're also receiving cash for it,

although you're not receiving it in your typical trading cash

account,

it's specifically those proceeds go into what we call a

short account,

which you can then use in order to buy back

the stock that you've previously shorted.

So if the price moves against you,

meaning it goes higher, 'cause again we want the stock

to go lower when we're shorting.

You must post additional margin.

Which overall reduces the buying power that you

have in your account.

Now if this continues to happen,

your buying power may eventually turn negative,

resulting in a margin call.

Meaning you either have to inject more capital into your

account or sell securities to meet that call.

A position that no one wants to be in.

To put things into perspective,

when you buy a stock,

you know what's the lowest it can go to.

The answer is 0. But how high can a stock

go?

The answer is that there is no ceiling as to

how a high stock can go.

Which can technically make your losses infinite.

Alright, so I just want to repeat that infinite.

It's like going to an all you can eat buffet,

but instead of eating delicious food,

it's losses and again a position that no one wants

to be in.

Another thing to mention, or to caution you want is

on,

is that not every stock is shortable,

so whether it's because it simply isn't marginable,

not all securities are. Or there is no availability to

borrow the stock.

To sell in the open market again,

there is no inventory for you to actually borrow those

shares to sell them.

Now let's move on to trailing stops.

So before we go into trailing stop limit orders,

let's review what a stop limit order is.

So a stop limit order may be used to potentially

protect it against a negative movement in your position.

Now stop limit order has two components as those are

trailing stop.

The price where your order will be entered in the

market which we refer to as the trigger price.

And the limit price of the order that is going

into the market.

For example, if you own a stock that currently trades

at $10 and you put a stop limit of $9

as you trigger and 8:50 is your limit price,

well if the stock drops to $9 or below a

limit order of $8.50 will be entered into the market.

A trailing stop limit order takes this formula,

but unlike a stop limit order,

it's not stagnant as we will see in upcoming examples.

Now a trailing stop limit order has a triggered delta,

which can either be a dollar value or a percentage.

And will continuously adjust if the price movement is in

a favorable direction.

Now, if it moves in the opposite direction,

that stop limit order so that trailing stop limit order

will hold still,

as you will see very shortly.

Now what a trailing stop limit order allows you to

do is you may potentially lock in gains,

or it may allow you to minimize losses.

The question might be is you know,

is this a fail safe,

you know? Will this protect me in all circumstances if

I'm not monitoring My Portfolio on a regular basis and

the answer unfortunately is no?

The trailing stop limit order strategy does not protect you

against gaps,

so and I'll go over what the gap is in

short order,

which can be seen if there is overall market capitulation

like we saw last March,

where it seemed like the Dow Jones was opening up

10%

lower each day. I may be exaggerating there,

but there were some rather large moves.

Or if there is individual stock or sector news which

can potentially drive a price lower significantly.

Like an earnings report.

So another couple of things to note is that stop

limit orders or trailing stop limit orders are only valid

during regular market hours.

So after hour price movements will not trigger your stop

order along the same lines.

Stop loss orders placed before 9:30 Eastern Standard Time so

it straight before the market order will not be active

until regular market orders serve.

Regular market hours commence. So if I've just confused you

by discussing trailing stop limit orders,

don't worry. I think these examples will help.

So here we have a trailing stop limit sell order,

meaning we own the stock and we want to put

a trailing stop limit order to sell in case the

stock goes down.

So in this example, our stock is trading at $80.00

and remember how I said we can choose a trigger

delta of either percentage or a dollar amount and I'm

going to demonstrate a dollar amount later on.

Here we see a 5%

triggered delta.

So your sell order will be triggered if the market

price falls to $76.00.

In this case, which is simply $80.00 --

5%.

Right so again, stock goes down 5%.

Our order is triggered. Now the second step to this

processes is to set a limit price at which your

stock will be sold at or your order will be

entered at. So in this case the trigger is $76.00

but you choose a $1.00 limit offset.

Now what does this mean?

The limit price for which your order will be placed

is is the trigger price minus the limit offset.

In this case, with the limit offset of a dollar,

our limit price that we're sorry our limit order which

goes into the market will be $75.00.

So $76 trigger minus the $1.00 offset equals a $75

limit order.

So in this case this could potentially protect us from

the stock going down even further,

and then you can reevaluate what you want to do

from there.

So what happens if instead of the stock going down

right away,

the stock goes up?

Well remember our stop limit order example and if you

think back to the previous slide is that.

Are trigger delta was at $76.00 right?

So if the stock drops is $76,

I'm going to trigger a limit order to go in

at $75 alright?

If it was a stop limit order,

that would never change. We would either have to,

as the market appreciates, we'd have to constantly go in

and adjust our stop limit orders higher to until we

are happy with where they stand.

A trailing stop limit order does that automatically.

Alright, so here we see that again or stock starts

at $80.00 and as it goes up our triggered delta

goes up in tandem with it.

Alright, so you can see here the trigger delta goes

up in tandem until we reach a point where the

stock peaked at $95 in that triggered Delta is set

based on 5% below that $95 mark.

In this case, that 5%

is $90.25 and we still maintain our $1.00 limit offset.

Meaning if the stock trades at or below $9 three,

$90.25. A limit order is put into the market for

to sell our stock at $89.25.

So now as we move into the demo portion of

today's session,

you may be wondering why I haven't discussed the covered

put strategy in greater detail.

Now. The reason for that is that options are complex

products that require more than a couple of minutes to

flesh out how they work and how you can potentially

use them for either speculation,

income generation or hedging with your portfolio.

What I will do, however,

is I'm going to show you where you can access

resources on our website to learn more about options.

And the various strategies that you can implement.

So now let's move on to our demonstration.

So here I am in my account information and of

course we're going to be looking at the Two's trading

trading strategies of short selling and trailing stop limits,

so I'm going to start off with shorts on.

So under action here you can see that we've added

a short sell.

Onto the list, which I will then choose,

and then I'm going to put in a symbol which

I want to see if there is availability for

me to short.

In this case, I'm going to use AMC theatres.

I know it trades on the US market and right

away I get a message saying that the security of

selected is not available to short online to find out

if it is available for short selling,

please contact us. Alright, so right away you know whether

a stock is easily shortable or not.

In this case, I mean you could try calling in

to see if it is shortable,

but odds are if it's not online,

there is a. A strong likelihood that we just simply

cannot do it.

Alright, so why don't I choose a stock that I

think we have the ability to short?

And here so notice I'm not getting a message there.

Looking to short TD. When your plant placing a stop,

sell a short sell order.

It must be done in what we call board lots

now aboard.

Lot is simply an increment of shares at which that

stock currently trades on the on the exchange.

Any stock that trades above $1.00.

Operates with hundred share board lots.

OK so the minimum shorts amount of shares that I

can place an order to short sell with is 100

shares.

So then we have the ability to choose whether I

want to put a market order or limit order in

there.

Now you might be thinking if you put a market

order in an I see that Trump TD is currently

trading 8757 and we know when we sell we sell

to the bed when we buy we buy to the

ask here,

right? So if I'm selling to the bid?

You know, if I put a market order to short

that stock,

I should get filled at $87.56 is that.

Is that correct? And the answer unfortunately is not necessarily.

The reason is because when it comes to short

selling,

there's what we call an uptick rule,

meaning that a trade has to go sorry trade has

to occur where the stock hits the ASK at some

point,

whether it's now or whether it's at some point in

the future before your order.

Can actually be executed in the market,

right? So what do I mean by that?

You know, a trade has to go through at $87.57

in this case before your order to short 100 shares

goes into the market.

Do you want to learn more about the uptick rule?

I mean, if you just Google it,

there's plenty of information available.

Alright, so now let's take a look at the trailing

stop limit orders.

So I'm going to demonstrate a sell order on a

stock and I'm going to choose a random one for

My Portfolio here.

Here I see I have 100 shares of ACB in

the account.

Therefore my quantity is nice and easy.

It's 100 shares and then I'm going to choose my

order which is a trailing stop limit order.

Now. Previously we demonstrated a percentage.

In this case I'm going to choose a dollar denomination.

Alright, so I see that ACB.

Right now is trading at $11.45.

So. I have to determine at what price.

ECB will drop two, or by what denomination ABC will

drop to before.

I want my trailing stop limit to be triggered.

So if I say OK,

well if the stock drops $0.50 from here.

Then I want my order to be triggered.

So that automatically adjusts to $10.95.

And then I want to say,

well.

At what price limit order do I want to enter

into the market once my stop limit order is triggered?

So here I'll say I'll use a dollar.

Make things easy. So what this is telling me is

that should Aurora cannabis drop to $10.95 on the market.

Then my order or limit order will be entered into

the market for $9.95.

So what would happen and go over 2 scenarios here?

What would happen if afterhours good news comes out for

Aurora cannabis market in general and the stock goes

up by $3 after hours and opens in fact $3

higher tomorrow morning?

So this would bring the stock up to $14.45 from

11:45.

What would happen to my trigger price?

Well, we know my trigger delta is $0.50.

So this would bring my trigger price up to $13.95,

which is $0.50 below where Aurora opens at the following

day at 1445.

My limit offset would then just be increased as well

to reflect a limit order of $12.95.

Should the price of Aurora dropped to $13.95.

On the flip side, what would happen if the stock

opened up?

Below

my estimated limit price of $9.95.

So, for example, if bad news comes out and the

stock opens up the following day at $8.00.

Now, remember pre and post market trading do not trigger

your trailing stop limit to be executed.

It's only during market hours.

So again stock opens up at $8.00.

You say OK well rob,

the estimated trigger price is 1095.

My limit order will be triggered right?

And I said yes. Absolutely the trigger order will be

entered.

What would happen to my field?

Would I get filled on my desire to sell 100

shares of Aurora cannabis at a limit price of $9.95?

Well, because no trading actually took place between $10.95 and

995.

This order would not be filled and you would simply

have an order to sell 100 shares of ACB on

the market.

For $9.95.

OK, perfect, so I hope that those examples have cleared

up.

Exactly how trailing stop limit orders work?

However, you can see here that we do have information

on both trailing stop limit orders as well as short

selling and options for that matter,

which you can access readily access whenever you wish.

So now I'm going to show you where you can

find that information aside from just clicking on these links.

If you go to the top bar on the screen

here and you click on more,

you'll notice that we have a dropdown menu.

If you click on learn.

This is where we post a lot of materials for

you to browse whenever you wish and educate yourself on

on investing basics or particular strategies that you're interested in.

Now, one thing to note is that you know I'm

accessing this website or this portal post sign on.

If you go to the investor that website you can

also click on learn and this information will be available

as well.

So you don't necessarily need to sign in to your

investment account in order to access information.

So here I see, you know I'll look at investing

an I want to learn more about investing in stocks

and right away.

I see you know, understanding short selling stocks and understanding

trailing stop limit orders so you know you could use

these articles as supplements to what we've gone over today.

Now options and I said I would show you where

to find information on options and actually we have a

whole tab dedicated to it.

And as you can see,

right away, you know, understanding cover calls and how to

execute them.

Understanding cover puts and how to execute them.

If you've never encountered options before.

If you've never read up on them,

you know we have a lot of great articles such

as getting started with options or what is an option

or options basics that are provided by our partners over

at the Montreal Exchange, which I think are greatly sorry,

great reads. In order to get yourself familiarized with option

trading.

Alright, so that concludes the formal part of our presentation.

So now what I'm going to do is I'm going

to encourage you if you have any questions or feedback

to type those questions or that feedback into there should

be an icon and type top right hand corner of

your screen where you can where you can do that.

We had a fantastic response in terms of questions that

were submitted before today's session,

and so I'm going to start off by answering one

of those.

Alright. So Richard asked.

Can investors edge to options trading?

And the hopefully I've answered your question,

Richard in the presentation.

We absolutely can, and we can execute a number of

trading strategies with options or using options online,

and I've showed you now where you can access information

about those options strategies.

However, if you are currently using an investment account and

you do not have options coded on your account or

so,

you're basically not able to trade options at this time.

I'll show you what you can do in order to

get your account updated.

With options trading eligibility. So here you know,

we, I showed you about the Learning Center,

will click on the form center.

So as the form center opens and say I'm interested

in,

you know, making option trading available in my tax free

savings account,

I'll simply go into this drill down and look at

the TFs.

A account application PDF.

So when you do that,

notice that it asks you are you a opening up

a new tax free savings account or updating an existing

account.

And here I would I would select that I would

put my account number in here,

fill out the information associated.

You know whether it's your personal or employment information.

Answer the questions that you need to and then of

course you must select that you want your account enabled

with options trading and then the strategies which you want

your. Accounts coded with alright,

so in a TFs A you know we only allow

the purchase of calls and puts an covered call writing

remember how I said covered put or short selling is

only available in margin accounts.

A covered put strategy which I've mentioned today essentially pairs

with shorting a stock and reading and put against it

and don't want to go into too many details.

But that is only available for margin accounts.

Also, if you've never traded options before.

There are certain strategies that are very complex and have

you know you have to really understand the risks associated

with these strategies.

So we allow those only in margin accounts as well.

OK, so on to question number 2 and this one

comes from.

Regime.

Can you transfer a TFs a from another financial institution

to investors Edge?

And the answer is absolutely right and you can do

this in two ways.

One, you could do it in cash or two

in kind and cash is basically saying that you know

whether you have stocks or just cash in a taxi.

It's got another institution. It's only going to come over

as cash to invest in,

so if you have stocks over there then they will

sell your securities prior to transferring over to investors Edge.

If you're asking for it in kind,

that means that no, they're not going to sell your

stocks over at that other institution,

and we're just going to transfer those positions over to

investors Edge.

So once the account is open and everything is transferred

in,

you still have the same portfolio that you had at

your previous institution.

So both for. Updating your account with options trading

and for requesting a transfer from another institution to investors

Edge.

You know you can go to our banking center and

get assistance with this and it might make your life

a bit easier.

So KV asks. How do you activate the US?

Trading account, and that's a great question,

kavian. Actually, one of the benefits of.

Our new enhancements and moving over to buying power from

the previous cash slash margin is that the US trading

account or subaccount is automatically enabled.

So what I mean by that?

Well, if you have a tax free savings account,

well, you can trade and hold Canadian dollars in that

account.

You can hold U.S. dollars.

In fact, you can hold a number of different currencies,

but will just focus on Canadian in U.S.

dollars. Previously you would have had phoned in.

To make a transfer from a U.S.

dollar bank account, for example to your U.S.

dollar tax free savings account or and then.

If you had a margin account,

for example where you know it doesn't matter in what

currency you're buying or selling securities long as you have

the available buying power,

you know your order should go through with no questions.

In the past you would have actually had to place

the trade with someone over the phone in order for

that account to be activated with our new buying power,

the US trading account is automatically activated.

So again, if you only hold Canadian dollars in your

margin account and you want to buy U.S.

stock. And go into a negative position and in your

cash and your in U.S.

dollars you have the ability to do so.

So that's again another one of the benefits of our

enhancements and appreciate the question.

Our next question is from.

Suzanne, please explain the process to set up a tax

free savings account.

That's a great question, Suzanne.

So to do this, I'm going to actually show you

just how easy it is to open up an

account with us.

And I'll do that by demonstrating.

So here from our homepage.

It's not it.

Rate up front it you know it asks you or

it mentions that you can apply for a new account

online.

And these are the accounts that can open,

be open by yourself online.

And in fact, as long as you are a CIBC

online banking client you can open up these accounts,

paperless with digital signatures, which is a much better user

experience 'cause you can do it from the comfort of

your home.

So here I would click on apply now and then

what it's going to ask again is our USC ABC

online banking client.

You'll simply select yes, sign in to start and this

is where you enter your online.

Online banking sign on information.

So your CIBC debit card number as well as your

online banking password.

Once you do this pre fills your application so that

you just have to answer a few questions before you

type in your name for a signature and hit submit.

Otherwise, if you don't want to go through this way,

you still have the option of going into a banking

center and having a representative help you with this.

OK, Farrah asks. When I want to sell my shares.

How do I make sure I get the price I

want even if the price fluctuates,

and that's a great question fair.

So we briefly touched upon the difference between a market

order and a limit order in earlier in today's segment.

Now it depends on what you're prioritizing.

It sounds like from your question you're prioritizing price versus

timeliness of the order,

and why I say that is because you know if

you want to get filled on an order right now.

So in this example you're saying you're selling shares.

If you want to sell your shares.

And you want those shares sold immediately?

Absolutely we can get that done.

However, there's no way to guarantee at price at what

price you order will be filled.

On the flip side, if you say well,

I'm only willing to sell my shares at a certain

price,

which is what it sounds like you want to do.

Then you're going to enter a limit order to sell,

sell the stock. The one thing you might want to,

or you'll need to know,

though, is that there's absolutely no guarantee that your order

will be filled at that desired price.

So again, if you're prioritizing timeliness of your order,

then a market order is more desirable,

but if you're prioritizing. A limit,

sorry. A specific price, then the limit order is more

desirable.

Also. One thing to note there is that you know

in a fast moving market,

in your placing a market order then the order fill

price can be much different than when your order was

first placed,

so you must be aware of kind of how volatile

the market is.

I'm sure you've had some experience with that.

OK.

Randall asks how can I transfer funds from my RSP

account to my CIBC Chequing account?

That's a great question, Randall,

so.

And I'm glad you brought that up because I've only

talked about enhancements to trading features,

but what we've done actually over the last few months

is we've added a lot more self-serve options onto

our platform,

so I don't know if you if you've had a

chance to check out which self-serve options I'm going

to.

I'm referring to. So why don't I show you?

So under more, you know we've already gone over where

you could find more resource is associated with the training

strategies that we discussed today.

I've showed you, you know if you want to update

your account or have any questions about some of the

forms.

To do so you click on the form center.

Then if you're looking at some of our self-serve

options,

you'll click on preferences. Alright,

so here I see that we have the ability to

submit an RSP withdrawal online and this has only been

added like I said.

Within the last little while previously,

you would have to phone in speak to a representative

who would then process that withdrawal for you.

Now you mentioned that you want to transfer funds from

your RSP account to your CIBC chequing account.

Well.

One thing to note that if,

for example, you're going through this process and you click

on the RSP withdrawal request that if you don't see

the desired CIBC bank account attached to your RSP account.

Well, another self-serve option that we've added is the

ability to link CIBC bank accounts.

To your investors Edge account.

Alright, so again if you don't see that checking account

on that list to withdraw the funds from your SP2.

While you can simply submit a request online yourself in

order to have that account at it.

So one thing to note is that you only have

the ability to link one CIBC Canadian Dollar bank account

to any given invested account and one U.S.

dollar account. Alright, so we can't have multiple.

Bank accounts attached to any given investors Edge account.

Another thing 'cause we talked about enabling or how to

activate AUS stock account.

Well if for whatever reason you currently don't have US

trading enabled on your investors Edge account,

you can click on this link in order to do

so.

And of course it took me.

It took me out of the screen,

but regardless, it's simply submitting a W 8 Ben in

order to have US trading.

Add it to your investors Edge account or you know

going into banking center an submitting a valid copy of

a government issued ID.

A government issued photo ID that is which will then

be sent and then your account is good to

go.

So I think that. Is all the time we have

today.

I want to thank you again for joining me and

for participating this this session.

I hope you found it worthwhile and what I will

say to you is,

you know stay tuned for more webinars like this and

again,

hopefully we find the other topics that are of interest

to you.

I just want to say a copy of this webinar

will be sent to you via email when it is

ready so you know within the next 48 or 72

hours. So if you want to,

you know go back at some of and take a

look at some of the strategies that we went over.

You know you can do so.

Whenever you feel like and lastly I'll say again,

thank you. Thanks for joining and we really do appreciate

your business and stay tuned for more exciting things to

come on our platform as we move forward later this

year. So thanks again and enjoy the rest of your

weekend.

Take care.