 The following is a presentation of TFNN. The Morning Markets Kickoff with your host, Tommy O'Brien. Good morning, everyone. This is Jacob Schuphill. I'm in for Tommy O'Brien on Monday of next week. One second. Let me switch my headphones here. Good deal. You know, it's Thursday, but it really feels like a Friday. But, you know, that just... we're not going to let it drag on. It'll be good. Let's see what we're taking a look at today. We'll go a little bit slower this morning, just until we get into the market open. We have the ES-mini, trading about sideways right now, at $45.17. The SPI is on an ABC UP, a price trajectory of about $462. Russell's up about $1,804.90. The NQ's at $15,864. The Dow trading right there at $35,000 pre-market now. Gold contract at $19.76. We've been kind of experiencing a slight pullback here throughout November, but now we're back up, especially with the dollar going down. I'm breaking the $104 level for a little bit. I think we got down to $103, about $70s. We're back trading to about $104.17. But the idea is this isn't really going to hold price, so we'll see how that moves down. We're looking at a $99 target for the DXY that would send equities and obviously the metal market up pretty high. Silver's been doing alright, trading about 2% right now pre-market. Really got some action in it, trading probably about $21.92 somewhere around here and then really just took off all the way up to the $24 area. We have copper trading up 0.36%, at $3.73 on the contract. This one's pretty big, so we'll talk a little bit more about this. The LightSuite crude futures trading about $75.88 right now. US is refilling its SRP right now, which is massive at these lower levels. I think they're buying at about $77. And then let's see, the IMFC is kind of a demand and supply imbalance going forward Excuse me, supply will just be so much higher due to kind of progress in extraction and storage. So we'll take a little bit more of a deep dive into that later in the show. Let's take a look, what else? We have Tesla 239, STLD closing at $111.26. So that kind of broke its general trend. We were trading in $100 to $110. Obviously you had some peaks a little bit above it, but those kind of like a magnet got pulled right back down. We had a break down at that $100 level, went all the way down to about $95.60. This leg down was on some pretty significant volume for the day, but we came right back up. And again, what worries me with this is you don't have as much volume, you don't have as much energy going up into the higher bounds of the channel, which was $110. You really broke through it, which was pretty stellar, up to $114, about $28. But again, on no volume comparing to these major breakdowns past the $100 level. To me, that kind of says that it wants to go a little bit lower, but as it stands now, we're trading at $111.26 and still getting some bounces when we have a pullback on it. If you're looking to trade this stock, just keep that in mind. It does look like it wants lower prices, but when that's going to happen, obviously, we don't have a crystal ball here, but we can kind of look at what the stock's doing and make some general projections going forward. The QQQ at $385.18, Google at $137.22, Meta, $331. Disney, oops. Disney Fire, oh man. This is like music to your ears, depending on what your price point is. This is positive for the company, at least for right now. You have some massive volume gapping up there. We're trading about $93.89 currently. Apple at $189.10 in the spy at $449.60. We can take a look at Target quickly. We do have Kevin Hinks on the next segment, so it'll be nice going forward here. This is huge volume on the gap up, which is nice. Target was getting hit a little bit. Their major competitor going in right now was Walmart. Walmart was offering cheaper prices for all their goods. Even their groceries as well. Target was not able to compete as well with Walmart. However, their shares jumped, obviously, more than 17%. You can see this massive gap up. Target posted big earnings. The sales did fall, so let's take a look here. Target on Wednesday topped Wall Street's quarterly sales expectations and blue past earnings estimates as purchases in high-frequency categories like food and beauty helped prop up weaker consumer spending. Shares of the company closed nearly 18% higher Wednesday after the news partially a reflection of the stock's drop so far this year. The big box retailers stared down the same challenges as it has faced over the past few years. Shoppers aren't buying much more than the necessities. They're hungry for lower prices, and when they do make purchases, they're postponing them. Of course, everyone's been kind of tight, and U.S. consumers have been relying on credit and their savings in order just to survive. This was actually a pretty nuts situation. The friend I had I hadn't spoken to in a while. She's just like a normal U.S. worker. She worked in hospitality, all these kind of things, and I ran into her the other day, and she was telling me that things are so rough right now. She's out in Tampa. Things are so rough right now that her and a lot of her friends that she knows are digging into their retirement savings that they have. I mean, these are young people, too. I'm 27, so people around that age are a little bit older, and then really using credit just to buy food and to live. It's pretty intense. This is why Walmart, in my opinion, will partly contributed to them just kind of skyrocketing value-wise and sales-wise because they're offering cheaper groceries, really. This should alleviate a little more going forward than the rest of the year, but still you can see that a lot of people are hurting from it. For the second quarter, Target's comparable sales declined. The industry metric, also called same-store sales, takes out the impact of store openings, closures, and renovations. So these are just the things that you can kind of count on going forward and are not dependent, again, on kind of unique occurrences for that quarter. The CFO sent on a call with reporters that it's laser-focused on moving traffic and sales back into positive territory, of course. Target's leadership cautioned that won't happen this year even as holiday shoppers hit stores and websites for decorations and more. The earnings per share was $210 versus the $148 expected, which is pretty solid. Revenue was $25.4 billion versus $25.24 billion, as expected. The sales have slowed across the retail industries. Consumers feel a bunch of crunch from elevated prices, of course. Target did have actually pretty decent home goods and impulse purchases as well. But I think what's happening is you're going to get a larger contraction here because now you're seeing, I would say in the middle of this year, probably around March to May, you're getting the consumer economy being propped up mainly by wealthier people. So like upper middle class to upper class. They were still buying luxury goods. We saw that with Hermes. We saw that with Burberry. In fact, Burberry in the UK has at least seen a pullback in consumer spending. So now you're getting the components of the consumers that were actually still spending on luxury goods that they're pulling back now to. So we might see kind of essentially just a general crunch in consumer spending. The fiscal third quarter, Target's total revenue fell from $26.52 billion in the years prior. Comparable sales dropped to 5%. Digital sales declined at 6%. Folks, stay tuned. We should have Kevin Hinks on next. 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Hosted at Discord, TFNN has been educating traders for more than 20 years, with live programming hosted by a variety of professional traders during market hours, the Tiger's Den. Available to all Tigers and Tigris' for just $1 for the year. There's no catch or added costs when you join our community of traders. Sign up today and become a part of this educational community of traders. Just visit the front page of TFNN.com. Back folks, we're taking a look here right now at the LightSuite crude oil futures trading at 7526. The US is planning to refill 1.2 million barrels of oil for the Strategic Petroleum Reserve. The department said the planned purchase for oil is at an average price of $77.57 a barrel from two companies after 18 bids were submitted. The administration last year conducted the largest ever sale from the SPR of $180 million barrels, part of a strategy to stabilize soaring oil markets and combat high pump prices in the aftermath of Russia's invasion of Ukraine. If the purchase is finalized, we'll have bought back about 6 million barrels, as oil prices have risen on production cutbacks by Saudi Arabia and Russia. It has been difficult for the administration to buy back oil for the Reserve. And honestly, Russia is still selling, I think they had, the world had imposed a cap of about 60 bucks on Russian oil, which is not a good break even, well, I think it's just above break even for Russia. But they've been able to skirt that. We spoke a little bit a few months ago about how these kind of like shadow economies run. So, you know, even with like Venezuela, right, they had, we've historically had an embargo on Venezuelan oil as a way to kind of punish their regime over there. But it still gets out. Now it does sell cheaper, but it still is profitable for these countries and Russia is doing essentially the same thing. What will be interesting to see with Venezuela is they're saying essentially that they're going to have democratic elections on the next cycle, right? I think Maduro's president right now, they're still going to change that. If that's the case, the US has promised to lift the embargo on Venezuelan oil. That would obviously flood the economy with supply, excuse me, the market with supply as well in a time that supply is already increasing. And so that would be actually pretty positive for oil prices. And I think we could actually see then if you look at like a geopolitical perspective, is it actually hit Russia to some extent. Last month it was raised, excuse me, raised the price in which it hopes to buy back oil to 79 or less a barrel up from an earlier price range of about 68 to 72, so still buying higher for the SPR. Last month the Energy Department said it hopes to buy 3 million barrels for December delivery. And another 3 million for January at the higher price. It said it expects to issue additional oil purchase solicitations for the reserve on a monthly basis through at least May 2024. So we can take a look to over here. So this is from Bloomberg. It's posted on World Oil, but the global oil markets won't be as tight as expected this quarter as upward revisions to demand or outpace by upgrades to supplies. And this is from the IEA. It boosted forecasts for the world fuel consumption this year on surprising strength in China and still anticipates the supply shortfall during the fourth quarter. But it'll be roughly 30% smaller than the previously projected. And that's about 900,000 barrels per day shortage. This is a quote now, the world oil demand continues to exceed expectations, yet world oil supply growth is also exceeding expectations. Production growth in the U.S. and Brazil have been outperforming forecasts. And you know it's hard because there is a lot of, obviously there's a lot of oil in the world, right? But what it comes down to is when you have these larger institutions, like we can look at Russia, right, they need oil to be at a certain price so that they can be profitable. That's a big issue during the Trump administration with kind of the OPEC plus, I say war but like conflict that was going on. And what was occurring is the U.S. and Saudi Arabia were producing at a higher rate which was driving the price down. Now Saudi Arabia and U.S. could produce a profit at these levels. Russia couldn't, right? So you know there's a lot going on. I know Jared Kushner kind of mediated that argument, especially with Mexico as well on the deal which is part of OPEC plus. And so you know you look at adding more people to the mix, right, in Venezuela. And I look at Nigeria as well and Niger. They have large amounts of oil. I know the Omo Delta has one of the largest reserves of light-sweet crude. That process over there that they do to extract it is, it's pretty bad essentially, right? One, the government doesn't do anything right regarding getting this oil out of the ground. So what essentially happens is you get pirates who come in and they start mining or drilling for oil. This oil just floods the entire natural region. And you guys should look this up. I can maybe post the documentary in the den but this process is insane. So they're just, you know, tapping the oil reserve. It shoots up everywhere. It fills the ground. They essentially direct it into these large steel vats and they burn it off. It's a very, very rudimentary way of processing crude oil and they get diesel. The diesel is very unclean. It can damage vehicles but still there's a large swath of the population that just needs any kind of access to fuel and so they can run this kind of diesel. It destroys the environment. Furthermore, there's a lot of use in like folk medicine for consuming oil. So that is a big economy down by the Omo Delta. And it's sad because you would like to see the rest of the world kind of get together and be like, all right, let's prop these guys up. Let's push oil out. Let's make it cheaper for everyone. But that's not really the goal. It's keeping it within the bounds that it makes financial sense. So that's kind of where we're at. The macroeconomic sentiment is deteriorating. The concern about interest and slowing growth is the head of the IEA's oil market division. Oil demand is holding up strongly and exceeding expectations, especially China going from strength to strength. I haven't heard much about any kind of energy, you know, at least regarding natural gas going into the winter in Europe. But we'll see. It is hard to believe it's already been a year. I mean, we were having this conversation a year ago about energy prices skyrocketing because it's cold in Europe and parts of the U.S. So we'll see what kind of develops out of that. As it is now, again, light, sweet, crude oil futures are trading about $75. Let me see here. We're talking about target a little bit. This is actually an interesting blast from the past. Let's see if I can pull it off. I'm more of a Dillard's guy if I ever go to these kind of places. But Macy's has done pretty well. We're up 11.9%. This crushed estimates, essentially, for the quarterly profit. As a department store operator, margins benefited from better inventory management in lower freight costs, setting it shares up about 8% pre-market. The company became the latest U.S. retailer to signal improved margins from efforts to bring down inventory from 2022 highs. Obviously, this is in contrast to target, or not in contrast, but just along with target, essentially, that blew up pretty significantly. We're just talking about them. They had a 14% reduction in inventories and forecasted a strong holiday quarterly earning report. Macy's is saying that we're entering a holiday period and healthy inventory position. Of course, merchandise inventories at Bloomingdale, parents were down 6% year of year and down 17% compared to 2019. The retailer is seeing strength in its beauty and off-price offerings, which is helping the offset weakness in other discretionary categories. The thing is, I do, like if you go to some of the, the malls are essentially consolidating, right? We have in St. Petersburg, there's Tyrone Mall, right? This mall is essentially dead, and they're trying to figure out ways to get people to come in, but, like, in my opinion, it's just not really going to happen. But you still have malls that are popular, right? Over in Tampa, you have International Mall, and then you have West Shore, right? And these are pretty populated constantly, but everyone from around the area is kind of making, you know, the trip to this place. I think that the in-store retailers for clothes still have staying power, and it's mainly, now, I do know people who still buy, let's say, I know, like, a lot of my friends who are women, they buy from online. I guess they know their sizes. As a guy, you know, a medium or a large is different from other medium and largest. I need to go into the store, and I see that happening with a lot of other guys as well. So I think getting in and trying on the clothes, trying on the shoes, let's say, is still very relevant, and I think we'll see that stay the case to come. Folks, stay tuned, we'll be right back. Currencies, commodities, and bond markets are as important as ever right now with how they're driving the volatility in equity markets across the globe, which is why it's a great time to try out Teddy Kegstad's Tiger Forex report. Teddy Kegstad breaks down the Forex markets every Monday using his 30-plus years of experience as a trading veteran of futures, forex, stocks, and options. 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Watch online at TFNN.com or on TFNN's YouTube channel and become the investor you were born to be, TFNN, educating investors. Tomorrow and Monday as well. Let's take a look. So, yeah, I talk about digital currencies. I talk about cryptocurrency sometimes. Not so much the price movements with crypto but more just about what's going on fundamentally with them. I do think it's interesting to look at. Now, this isn't necessarily a cryptocurrency. Okay, this is a digital currency. These are different. Still looking at maces on this chart. I'm going to move something on over here. Now, this is going to tie into some new investing opportunities that are coming around, but let's just talk in this realm of digital currencies. The IMF says that central bank digital currencies can replace cash. This is a quote. This is not the time to turn back, okay? I don't know. It's their opinion. Central bank digital currencies have the potential to replace cash, but adoption could take time. I personally think, listen, we'll get into this a little bit. I think this is going to be not accepted at least like in America, right? We already have a lot of our cash digital and everything like that. There's a large contingency in America that really distrusts this move. I think probably Europe, this will be an easier thing to sell to people. I don't know. The movement away from that, I think with this, let's look at it in a positive way, right? Just like not moralizing it, but just kind of seeing what could come from it. Obviously this eases trade across boundaries, across borders essentially, right? It makes it cheaper, because you don't have to print out about some money. I do see that there is a major move going towards digital currencies in the future. That's something you don't like. There's always physical gold. There's cigarettes. I don't know. Whatever you can barter, I guess. This is the quote essentially from the IMF Fund Managing Directorate said, CBDCs can replace cash, which is costly to distribute in island economies. Okay, right. So the Singapore FinTech Festival, they can offer resilience in more advanced economies and they can improve financial inclusion where a few hold bank accounts. Yeah, the distributed in island economies, I'm sure probably that was just to kind of pander to the Singaporean audience, but the point is really what this does and you can see a general move is larger economic institutions to kind of essentially disintegrate a lot of the boundaries between countries. We look at the EU, right? This was a concept that was pushed probably in the 1890s, but even popularly in the 1920s and 30s in the UK, right? And the whole concept essentially was that you kind of remove the barriers to entry to other economies. You kind of merge these things together, these economies together. The scale gets much higher. The material benefits essentially rise with other wealthier countries in the fold there, I think that's called the Fisher Effect in economics. So this has been something that, you know, at least you can see the EU, but I think the US as well has been moving to since the early 20th century and definitely after the war as well. The CBDCs would offer a safe and low cost alternative to cash. It would also offer a bridge to go between private monies to measure their value, just like cash today, which we can withdraw from our banks. The IMF has said that more than 100 countries are exploring CBDCs, or approximately 60% of countries in the world. The level of global interest in CBDCs is unprecedented. Several central banks have already launched. Pilots are even issued a CBDC. According to a 2022 survey conducted by the Bank for International Settlements, the 86th Central Bank surveyed 93% said they were exploring CBDCs while 58% said they were exploring CBDCs. This is something that's really interesting to see the impacts of that, the positives and the negatives. So we talk a little bit about that. Let me try to pull up what BlackRock is doing. So I know Tom talks about this a little bit. He definitely talks about GBTC, the grayscale Bitcoin trust. BlackRock is creating trusts for different cryptos. They essentially filed for one in June for Bitcoin. We spoke about that a little bit. This one's for Ethereum. Looking at the fundamentals and how crypto actually operates in the real world, I like Ethereum a lot more. I like its proof-of-stake concept. I think it's a relatively stable price. You can build a lot of things, at least on the Ethereum blockchain. So I think that's pretty positive. We'll take a look. Asset management giant BlackRock on Thursday began courting public investors for an Ethereum trust, doubling down on its cryptocurrency bets amid potentially easing regulations over such vehicles. This is the iShares Ethereum trust, which was registered last week. We'll give investors access to Ether, the second most popular cryptocurrency without directly owning it. It's pretty decent. Now this is what's important to know is a spot investment vehicle and I actually like that more. I... There are plenty of leveraged ETFs that have futures products tied to the fund itself and those are great. You have really good upside but of course you can also get hit pretty hard with it. I like the spot investment vehicles. I think this is actually good. If you're an Ethereum bag-holder you want this to be the case. You're going to have Bloomberg essentially buying more of the actual asset itself. You have more people interested in it in general. That will in theory kind of strengthen the price floor of Ethereum. While future-based crypto funds have previously been approved by the U.S. Securities Exchange Commission, the regular has long contended that spot crypto market is prone to fraud manipulation. I mean and so is the futures products and you just have a way higher risk. Let's look at what the pension funds did in the U.K., when you had the guild crisis as they were supposed to be holding these 10-year guilds which is essentially like a spot concept, but they sold those and then bought futures for it, right? And then they were kind of shaving the extra growth off it, kind of pocketing it. I don't know. I think that all regulators contend different things regarding crypto, excuse me spot and futures regarding crypto. I think that's kind of a silly thing to say on that end. But in August, the Federal Appeals Court ruled that the SEC was wrong to reject an application from digital asset manager, excuse me, asset manager and it's a great scale, so early folks that brains still turn it on. Great scale investments to create a spot Bitcoin exchange traded fund. The landmark victory for grayscale has prompted a wave of filing for spot investment vehicles in recent months helping restore some faith in crypto industry that was shaken by several high profile collapses last year. Excuse me, BlackRock dipped its toes into the crypto space with its filing for spot Bitcoin ETF in June and its latest filing indicates that he was aiming to move beyond Bitcoin. That's the point and I want to say too we can talk about this in a general sense I don't like Bitcoin because I do believe in the concept of using cryptocurrencies as a medium of exchange Bitcoin really isn't that and I don't think a lot of people, especially you're more like common folk use Bitcoin as a medium of exchange this is an appreciating asset I think to Ethereum is a little bit different right because they're using proof of stake now you still get huge bag holders who get a benefit from that but if we look at how the proof of work was done Ethereum was originally proof of work and Bitcoin is still proof of work. The concept is that you're still going to get these large very powerful kind of cadres who are able to really control the supply of Bitcoin so they're sitting here solving hash algorithms. Once the hash algorithm is completed, obviously a new one is formed you have to keep going on but a block is formed and there's the currency there as well. I think that what you're seeing is you get these large kind of enterprises who are able to hoard a bunch of Bitcoin this dries up the price and depending on when it's advantageous for them, they drop the floor out from under it. They get a big profit and the little guys still get screwed TFNN has just launched their new trading room, the Tiger's Den hosted at Discord. TFNN has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours and now they are expanding their reach with the Tiger's Den available to all Tigers and Tigris's for just one dollar for the year. There's no catch or added costs when you join our community of traders. 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Tesla down at 237.93 Steel Dynamics down 110. Then the DXY moving on the way down. I think it wants to break that 104 level. We see that today that would be solid. Disney up at 94.32. A little upward movement for the stock which is nice. Let's take a look at CRISPR. The reason I'm bringing this up now, this isn't necessarily affecting this company in particular, but it's the whole industry that looks at kind of gene therapeutics. The UK has actually approved CRISPR gene therapy, which is pretty nice. It's used to treat sickle cell disease in betel thalassemia. The UK has become the first country in the world to approve a therapy based on CRISPR gene editing with the regulator authorizing a treatment for sickle cell disease in beta thalassemia. So essentially what CRISPR does is you have these long repeating proteins in the DNA. What they're going to do is they're going to find the chain in that DNA that's, I suppose, expressing something negative. They're going to cut it out and replace it with one that they've made. One of the biggest hurdles for CRISPR technology is that somehow within our DNA, I mean not somehow, I mean it makes sense, right? If there's something that's irregular in the DNA chain, that the rest of the blueprint doesn't understand, it actually does delete it and then put back what was there prior. This has been a really big hurdle for. And this is why people like mRNA vaccines more so, right? Because you can kind of tell DNA what it wants to do and everything. Maybe we're going to talk a little bit more about this. CRISPR is a flexible, efficient gene editing tool based on the bacterial immune system. This was developed in 2012. I think it's pretty huge. The medicines and health care products regulatory agency has approved a therapy called Cascavy, which was developed by Vertex Pharmaceuticals in CRISPR Therapeutics here. This is what we're looking at. The drug could be used to replace bone marrow transplants, which is huge. I think that's pretty neat. Just a little bit of looking at science a little bit for the day as well. I do think, let me see here if we can look at Moderna. Yes, they're up 140. Okay, they're down right now, 1.44%. They've obviously been moving down because of less need for the COVID vaccines, but they're pretty forefront in developing mRNA vaccines. That will be huge for cancer as well. If we can see that in the next coming years, the thing with cancer is it's so individual, right? You need to tailor these cures to the individual person. mRNA can do that in theory, which would be a huge leap forward in medical advancement. I think that's pretty neat. We can take a look here. Well, I just deleted the thing. Cisco is down which is sad. Let's take a look here. They're down about 13% in the extended trading on Wednesday after the networking hardware maker issued a glum forecast for the current quarter in full fiscal year. Here's how the company did compared to the consensus among analysts surveyed by LSEG. Earnings 1.11 per share adjusted versus 1.03 per share. Revenue 14.67 billion versus 4.61 billion. Revenue increased 7.6% in the fiscal first quarter which ended October 28th. Net income at 3.64 billion or 89 cents per share rose from 2.67 billion or 65 cents per share in the year go quarter. During the quarter, new product in order slowed down mainly because clients are busy installing and implementing products after strong delivery in three previous quarters Cisco said in a statement. Yeah, and that's actually positive for the company. I think let's look at it as well. There's a certification that I'm looking at. It's called CCNA and this is the IT one, not the healthcare one and that's for implementing Cisco products and operating them and the reason why this is so sought after, it's a very difficult exam the reason why it's so sought after is so many large companies use Cisco products. I personally think again investing in the IT and even the security side is so important. Cisco really is at the cutting edge of developing more secure products as well for businesses. This is a quote from the Cisco CEO our customers and our sales organizations have been very clear with us over the last 90 days that this is the issue. The company is projecting that one or two quarters of shipped products are waiting to be implemented so you know this expands out any kind of acquisition of new hardware for people. With respect to guidance Cisco also called for 82 cents to 84 cents and adjusted earnings per share on 12.16 billion to 12.8 billion in the fiscal second quarter. That implies a 6.6% revenue decline Cisco reduced its full year forecast for revenue but bumped up its view for earnings. Okay we're looking at that, that's great. Now I'm going to move in a little bit to here we're going to talk about Fortinet because they were actually down as well and this is because cybersecurity investment or excuse me spending I suppose is kind of shrinking, right? So Fortinet sank nearly 18% and sparked to sell off in cybersecurity stocks with dismal forecast that compounded fears of slowing client spending in an uncertain economy. The current losses if they hold were set to wipe out nearly 8 billion from the company's market value which is horrible. Palo Alto, Zscaler and CrowdStrike fell between 0.6% and 2.6% Fortinet cut its annual revenue target on Thursday and said it expects current quarter sales between 1.38 billion and 1.44 billion below estimates of 1.5 billion. We thought that sentiment reflected an expectation for misguide down but the magnitude is even worse than our bogies this is a Raymond James analyst competition in the sector has been intensifying as clients seek companies that serve as a one-stop shop for all cybersecurity needs that is totally true you don't want to be dealing with a bunch of different processes when the fire starts going you don't want four different companies you have to communicate with Cisco is also like that I mean you know they provide you know the entire like supply chain horizontally almost at least for cybersecurity I mean you have you know general like analysts right like people can look at the seams and stuff like that they have all their hardware that you work with the software that goes with that hardware they have forensics people and that's you know big for the company now I still think what's important to talk about again is a general slowdown on spending in cybersecurity I talk about this all the time how does it affect you it affects you because your data is out there and you've given what's called PII which is personally identifiable information to a lot of these companies and these companies are slicing their spending on it I mean we you just had one of the largest excuse me I can't think the word you just had one of the largest ransomware attacks on one of the Chinese banks has ever occurred right you've seen recently with Russian attacks on US infrastructure with intelligence malware you saw it with the casinos obviously it was a huge issue for target it was a huge deal for Equifax these things go on all day I had a friend who lost her identity right someone stole her social security number and that was linked to an information breach and so like us as the consumers need to be really strong on this I mean imagine you had a castle and you're like why do we just spend less on guards and there's like barbarians at the gate I mean this is like kind of what it is I'm not trying to fear longer but it's a genuine thing and I don't think people are familiar with it right you have to have a healthy respect for this kind of stuff in order to make the right calls folks stay tuned we'll be right back the gold report as a precious metal gold is still king it continues to hold the most effective safe haven and hedging properties across the global major trading hubs of the London OTC the UK market the US futures market and the Shanghai gold exchange the gold report Tom O'Brien publishes his weekly gold report every Monday morning for subscribers consisting of coverage of the XAU HUI GDX the dollar, bonds, the South African rand as well as 25 different mining equies with specific buy sell recommendations the gold report new subscribers get a 30 day money back guarantee so you have nothing to risk subscribe to Tom O'Brien's gold report newsletter now at TFNN.com the opening call newsletter is written by Basil Chapman creator of the trading methodology known as the Chapman wave the Chapman wave up down sequence gives you an edge in identifying price turns finding the peaks and valleys and stock prices get the opening call newsletter by Basil Chapman in your inbox every day first time subscribers also get a 30 day money back guarantee so you have nothing to risk so you have nothing to risk so you have nothing to risk okay first time subscribers also get a 30 day money back guarantee if you're not satisfied let us know and you'll get a full refund within 30 days of signing up TFNN.com Educating investors everything in the universe is governed by the Fibonacci sequence this mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market to stay on top of stock patterns you can take advantage of the Fibonacci 24-7 newsletter at tfnn.com. 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Remember, Clorox got hit recently by a cyber attack that messed up their supply chain, screwed the company for a few quarters to come. Their cyber chief is leaving. Obviously, Caesars Entertainment got hit. We take a look here as well with regarding, you know, Caesars Entertainment. The FBI actually struggled to disrupt the dangerous casino hacking gang. This gang had been doing this for quite a while. FBI had struggled to stop a hyper-aggressive cyber crime gang that's been tormenting corporate America over the last two years. After more than six months, the FBI has known the identities of at least a dozen members tied to the hacking group responsible for the devastating September break-ins, the casino operators, MGM, and Caesars Entertainment. According to four people familiar with the investigation, industry executives and told Reuters they were baffled by an apparent lack of arrests despite many of the hackers being based in America. President of CrowdStrike is even, I would love someone to explain it to me, such a small group they're absolutely causing havoc. Like, yeah, you only need like five people and you can really do some damage. The FBI has said it's investigating the gaming company hacks, but a spokesperson said, spokesperson for the agency declined to comment on a larger group responsible for the investigation stands. You know, I wonder, and I kind of muse over this a little bit too, I wonder if you're gonna start seeing like insurance sold to corporations for, you know, cyber hacks. I think that would be pretty insane. And honestly, in my opinion, I don't think that would be necessarily good because it kind of like becomes an accepted risk. I think there's probably gonna need to be some like legislative changes that are gonna have to take place until we feel, you know, it's always a cat-mouse game and no matter how much you do, you're going to get attacked, right? And people are attacked every day and the cyber team really works very hard in order to prevent those people from getting in. I mean, think about like working at a bank, right? I had a family member who did cybersecurity for, I can't remember the bank's name. I don't know if it's around anymore, but essentially he was like every day they're getting prodded and they're getting poked and the perimeter is getting tested constantly, right? So it's an ongoing thing. It's not just, it just occurs randomly in the wild, right? And so of course, like you're always gonna have this issue, but the point is, you know, we invest more in it and we get as safe as possible then we keep going forward and everyone's better off. Folks, thank you so much for joining me today. Tom's also out. I think we might have Basil filling in, but we'll let you know a little bit later in the day. I hope you guys all have a great one and happy trading. I'll see you tomorrow.