 The following is a presentation of TFNN. The morning markets kickoff with your host, Tommy O'Brien. Good morning everybody. I'm Tommy O'Brien, coming to you live from TFNN Friday morning, 9 a.m. Eastern time. We've got about 30 minutes to go until the start of trading coming into a long weekend. Martin Luther King Day on Monday, markets closed, but boy they're not closed today, folks. We've got some action continuing the run we had yesterday, putting the S&Ps on a 15 minute. Not that long ago. You backed things up 24 hours ago and you're talking about almost 100 and what, 15? Yeah, 115 S&P points we were trading higher. Quite the sell-off and the retail sales missed this morning. We'll get into that in a moment. We have the NASDAQ 100 down 110 points right now. That's 7 tenths percent. You get the S&Ps 7 tenths percent and you get the Dow right at 7 tenths percent and guess what? You get the Russell? 9 tenths percent. A little bit more negative action. Bitcoin rebounding nicely from 39,000. You make it up to almost 45,000 this morning. We're back at 42,300. You have Ethereum at 32.16 this morning. We jumped to Crude. Crude holding up relatively well with the market volatility Crude spikes to 83.35. 83.35 this morning. We've pulled back a bit solid dollar really from that pullback. Look at the volatility just this morning, 6 a.m. Eastern time, 83.35. You dive down to $1.50. We've bounced a bit to 82.41 and the gold contract up a little bit, up about 4 bucks to 18.25. We jumped to the all-important notes and bonds. We're getting a little bit of higher price and lower yield. We're up one tick but we're up. I mean you look where we were at 6 in the morning. This morning you're up a solid 12 ticks in the 10-year right now. You get a 10-year approaching 1.7 percent as we rise in price and the yield shrinks 1.7 percent. We're approaching that 10-year as you are positive by one tick but again, volatility. We're talking about 12 ticks. Just in the last three hours, let's jump over to the VIXs. We've got some negative action cascading from yesterday into today. The VIX trading at 2160 Monday spike, 2333. And taking a look at these markets on a daily basis before we jump to the economic news, I've talked about the channel lines. I'm keeping them up there while we chop around on this bottom line. I mean where this bottom line falls, you could make the case that maybe all of these tails are forming a little bit of a better region slightly lower, right? I mean when you're talking about a form of linear regression, folks, it is an art not of science. If you're drawing channels, there is no exact scientific model. If there was a scientific model, they would have an exact calculation that you use to draw the exact channel that you use to be profitable. That's not the exact way that it works. There is personal bias. You have to set them. But as you can see, depending on where you set this, we're at a critical level. On those S&Ps, as we've had been on numerous occasions, 4617, not that long ago, folks, January 4th, we were trading at about 4800. The last two days, quite the sell-offs that we have going on in the S&Ps, given up basically almost 3% we're approaching in that time. Okay, let's jump over to the retail sales numbers. Lots going on here. We have a drop of 1.9%, well worse. One way to put it, projected 0.1% decline, broad with 10 of the 13 major categories weakening. The overall purchases decreased 1.9% after a revised 0.2% gain a month earlier. That's revised down 1.10%. It was 0.3% too, so you got a downward revision on top of the miss. The figures are not adjusted for inflation. So imagine you have inflation spiking, you have the same goods costing more, and even with the same goods costing more, you're seeing the value of overall purchases declining. That's an exacerbated form of a decline then because if prices were flat, you would be declining even more, right? Probably. At least that is the theory. The median estimate was looking for a 0.1% drop. The year-end slide in retail sales sets up for a tepid handoff to the first quarter. It was quite a banner year. Now let's jump around because there's a couple different parts of this. You're talking about a year, excluding autos, we all know the story with autos. This one almost a little bit more startling and maybe indicative of the broad economy. Excluding autos, you had sales falling 2.3%. The market was looking for an increase of 0.3%. In addition to the weak number, they talk about the revision there. But here's the number. When you talk about the year, considering that the sales numbers are not adjusted for inflation, it points to a slow ending to what had been otherwise a strong 2021 in which sales rose almost 17% from the pandemic's guard 2020. They talk about the CPI number in there. They talk about that, etc. Now, restaurants and bars which posted a 41.3% annual gain in 2021 to lead all categories, they saw a decline of 0.8% for the month. Gas stations were a close second for the year with a 41% surge in sales. They had a 0.7% decline. Fuel costs were moving lower. Not sure that'll be the case in January with crude back near $83. Gas prices fell 0.5% to close out the year when prices at the pump soared 49.6%. Remarkable. Now, jumping back to the different categories of the number, 10 of the retail categories showed declines in receipts last month, led by non-store retailers which includes e-commerce. Those sales, 8.7% from a month earlier. Department store receipts declined 7%. After a 5.5% drop in November, furniture stores, electronics outlets, sporting goods establishments also fell. Restaurants and bars, the report's only services-oriented category dropped 0.8% as we just talked about as well. Motor vehicles, 0.4%, automakers struggled to meet demands, putting it lightly. The government's report showed retail sales excluding gas and motor vehicles slumped 2.5%. The control group, which are used to calculate GDP, that excludes food services, auto dealers, building material stores, and gas stations, that's a lot. We're talking about a fall of 3.1%, though. That number, when you take out all of those numbers, may be more indicative of a true retail perspective of what people are spending on the retail purchases they are making. Overall, 2021, total retail sales climbed more than 19% compared to the prior year. Retail sales in 2020, boy, we just had a full stop on sales when people just adjusted to a new life, whether it was March, February, March, really March and April adjusting to that new normal. Nonetheless, those numbers hit at 8.30 and the market sells off pretty quickly, putting things back on a 5-minute chart to see the escalation this morning. We were already coming into negative territory on that number, and we were trading at 46.24, so we were already in quite a little sell-off coming into this number in the market. I mean, yesterday's action, right? Quite the sell-off indeed on numerous fronts. You got to sell off right out of the gate. You got to sell off at about noon, and then you got to sell off to end the day that began about 2 p.m. and did not stop. You traded down a solid almost 60 points from $4,700 down to approaching $4,640 at the close, and you accelerated into the close with volume. I mean, when I got off the program yesterday, I mean, I got off the program, and we were trading at $4,730 in the S&Ps just yesterday, and we're trading $110 points below that price level now. That sell-off began at 10 o'clock, literally right on the dot. All right. So we get retail sales. You see the impact it's having over there. Interesting, right? What happens in terms of these are starting to see some of the effects of some of the comps? We had a year where sales are up 19%, but you're dealing with some comps where we're coming into much more normal numbers, and you're going month over month, but to beat those numbers from last year to carry that out, you're going to see similar things happen when we talk about the CPI number. It is very difficult to maintain a 7% number on CPI. When you're dealing with comps that for the next couple of months, year over year basis, yeah, we're going to be at 7%, but as we go through the year, we'll find out. We've got some bank running to go over. JP Morgan trading lower. We'll be right back. 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. 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TFNN airs live financial content streamed live on TFNN.com and TFNN's YouTube channel with Tiger TV, live every market day from 8.30 a.m. to 4.00 p.m. Eastern for free. Each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world. From the moment the market opens until the closing bell sounds, Tiger TV has eight different shows with expert hosts to help you make the right moves with your money. Watch online at TFNN.com or on TFNN's YouTube channel and become the investor you were born to be, TFNN. Welcome back, folks. We got JPMorgan up here. JPMorgan falls on trading revenue slump. Quite the pullback. We closed yesterday at about $168. Let's pull up the chart. I start earlier trading at about $162, and the slide continues down to $160.65, quite a haircut when you look at these banks. You pull up the daily. Now, the daily is not going to register the action overnight just yet, but you're talking about $160, so you're going to open right at this price area, kind of right where we've been oscillating around for the better part of a while. We give back a lot of those gains. We're talking about $8. You're talking about what? Four to five percent. You're going to open negative on JPMorgan. Now, getting into the numbers. Fixed income trading revenue slides are bigger than expected, 16 percent, 1 percent drop in both commercial and consumer loans, a declining trading revenue, steeper than analysts expected. Shares the company dropped after the firm reported a 16 percent slide in fixed income trading revenue, worse than the 13.5 the market was looking for. The number I keep my eye on though, expenses rising double digits from a year earlier as compensation costs increased. The firm said it to expect costs to rise to about $77 billion this year, surprisingly weak and were hampered by uncharacteristically poor expense management. That's some consultants out there talking about. The real surprise came in the 5 percent increase in non-interest expense, which looks difficult to justify referring to the jump from the third quarter. The results offer a look at how the U.S. economy fared in the final three months, including as a highly contagious Omicron. Yeah, and JPMorgan is lower there. Earnings guidance. Here we go. Net interest income excluding the market's business to be $50 billion for the year higher than 2021. Total trading revenue fell 11 percent. The market was looking for a 9 percent drop. Fixed income business was the biggest loser. Equities also declined though, falling 2 percent to 1.95 billion. Mergers and acquisition fees. How about that one? 86 percent rise to 1.56 billion. That was a beat helping push the firm's net income to 10.4 billion compared with expectations in 9 billion. I mean, it's pretty remarkable that you bring in net income. Income is what matters most. 10.4 billion. Market was looking for 9 and your stock drops 4 percent for a bank diamond earlier this week. Loan growth on the business side will probably return to normal while consumer loan growth will return to normal and majors take another 6 to 9 months for JPMorgan. So JPMorgan, you're going to open down about 1.60 this morning in the banks. Getting a little bit hit. We jump over to Wells Fargo. Wells Fargo was trading higher. We'll see how they are trading. Fourth quarter revenue tops estimate profit jump seems like Wells Fargo is just talking about yesterday. It might be in a little bit of a recovery from the woes they've faced over the previous years. Wells Fargo, $1.25 a share. Market was looking for $1.13. How about a beat on revenue of about $2 billion? $20.856. Market was looking for $18.824. Net income, an 86 percent increase. They get to a reserve release of $875 million in there. Lending began to pick up in the second half of 2021 with 5 percent growth in loans from its consumer and commercial portfolios in the final 6 months. And Wells Fargo. A little bit of a flip side action to JPMorgan. And yeah, you were higher. You gave it up. Now you're barely higher by about 40 cents to 46.42. You take a look at Wells Fargo as I was talking about though. Quite the year you back it up. That's January 15th at 32 bucks. We're going to open today at 56. Now, Citi in the likes of JPMorgan. That's the last year. You've popped nicely from about 57. You've had a nice start to the year from 60 to 67 as rising yields given the banks a little bit of an advantage, but you're going to get back some of that. There's your pre-market action as Citi out with their numbers trading lower. You jump over to Citi. There's the article. Fourth quarter profit declines 26 percent. There's the number for Citi there. 18 percent year-over-year increase in operating expenses. 18 percent to 3.13.5 billion for the quarter. That's quite a number when you're talking about almost a 20 percent year-over-year increase in operating expenses. Now I'm not sure if that's impacted greatly the comps they were dealing with last year at this time, but nonetheless it is a real increase. Earnings per share though still beat 146, but not clear if that's comparable to the 138. Not sure why that makes sense, but 17 billion versus 16.75 net income though dropping 26 percent. Probably a factor of year-over-year increases of 18 percent to 13.5 billion. Quite a number there in the big way. Global consumer banking business saw revenue decline 6 percent year-over-year to just under 7 billion. North America region revenue fell by 6 percent. Not good when you see declining revenues across the board when you're talking about global consumer banking decline 6 percent. North America revenue fell by 6 percent. In Asia revenue dropped by 9 percent. Latin America 4 percent. Expenses within the bank's global banking division surged by 33 percent. That's pretty staggering. I mean if you're operating a business and you've got a 13 million dollar expense budget, well your expenses just went up to 13.3 million dollars. There's lots of companies folks out there with a million dollars expenses, easy. And you're talking about it is very difficult if your expenses are costing you a million bucks and all of a sudden they're costing you 1.3 million. That's quite an increase as we all know. For 2021, net income nearly doubled to 21.95 billion. Well, full-year revenue declined by 5 percent. And city can open a little bit lower. You're trading 65.70 from 68.72 this morning for city. All right, let's jump around to some of the facts. You get the NASDAQ 100 down 125 this morning. You're going to have Amazon approaching 3200 on the open. 3205, we jump to Apple shares. Apple quite a pullback from the recent 182 when changed $3 trillion mark. We're almost coming back to Monday's lows. We're at 170.80, down more than a dollar overnight. You jump to Microsoft shares. Yeah, Microsoft's quite a give-back yesterday from 320 to 305. This thing got punished in a big way. You're down to 303 from Microsoft. We take a look at it a daily. Taking a look at the run that we had for the final quarter, pretty remarkable. You've now given back almost $50 for Microsoft shares and putting this on a little bit of Fub Fibonacci to see where we're at. We're just crossing the 618 of the entire run that you had. If you might want to see that hold, if that does not hold, I imagine that we're going right back to 280 from Microsoft shares. Quite a pullback yesterday for sure. We jump to Google. See how they're opening up. $27.55, down about $7 for Google shares. There's your action overnight for Google. We jump to some of the social media or Meta. Meta back to 322. You were down to 315 earlier in the week. Facebook, I imagine, is going to be a company that's going to be particularly volatile over the next three, five, 10 years, folks, as the Metaverse develops. You're going to see technology improve. You're going to see the market get excited about that technology, whether they come out with a new Oculus, right? Whether there's just leaps and bounds made of what Facebook is doing, the offerings that they have. I mean, you have to remember the reach they have, the billions of people that they reach through their social media network. They're going to be trying to transform that instead of you logging on to Facebook and scrolling every day, that you snap on your headset and jump into the Metaverse every day. And they have the reach to be talking to people. But guess what's going to pull them back when they start talking about costs? Because there's going to be a lot of costs going into this equity. But Zuckerberg is a very bright guy, no matter what you think of him. And he's seen the way that he's become one of the richest people in the world through advertising. And guess what, virtual real estate, virtual real estate for advertisers, it's going to be as important as virtual real estate for advertising on the internet. And he's trying to get ahead of it. So we'll see where we go. But volatility is going to be there. And you're seeing a play out right now for Facebook shares. Down about four bucks on the open to 322-22. All right, folks, it's going to be an interesting open. Stay tuned. We'll be back in three minutes for the opening bell. We get the S&Ps down 33, coming into the long weekend. We'll be right back. Stay tuned. And don't forget to subscribe to our channel. Educating investors. And don't forget to subscribe to our channel. 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Don't miss out on this incredible new piece of software. Get your copy of the Art of Timing the Trade Charts today by visiting TFNN.com. This segment is brought to you by Think or Swim. For more information, just click the Think or Swim banner on the front page of TFNN.com. Welcome back, folks. We've got markets open. We've got the S&Ps down about 7-tenths percent in the red, trading negative 28 points at 46-23, Nasdaq 100. Down just more than half a percent, markets getting a little bit of a lift on the open right now. 15,401 markets only have been open for about 30 seconds. We'll jump over to Tesla. Tesla shares this morning, trading down about 1 percent, down just over 1,000. We bounce right at 1,000 pre-market at 1,019. You give back 100 bucks quite a day for yesterday to the negative side for Tesla from 11-15, trading at 10-15 basically this morning. Now, I bring up Tesla. Make sure I get this article. Come on. There we go. Dogecoin. So after Elon Musk says it can be used to buy Tesla merchandise, it's pretty fascinating that the richest man in the world is out there selling trinkets for his company in worthless crypto that he's pumping and dumping. That's my take on things, folks, okay? But you jump over. Now, let me get everything I got up here. Well, this is the article first as I jump around. Excuse me, one second while I make sure. Here we go. So this is the article that talks about doge jumps 9 percent after Elon says that they will accept doge for their merchandise. Now, here is the merchandise, folks, okay? It's a cyberwistle that looks like their truck inspired by the cyber truck. The limited edition cyberwistle is a premium collectible made from medical grade stainless steel, medical grade stainless steel for your cyberwistle with a polished finish. The whistle includes an integrated attachment feature for added versatility and 300 doges all it will cost you. Well, doge is trading right now at 19 cents, folks. If it's trading at 20 cents for simple math, you're talking about a $60 whistle made of medical grade stainless steel, $60 whistle. It says a lot, though, that Mr. Elon Musk is taking doge for his trinkets that are vastly overpriced to put it lightly and not taking them for his cars, which are right now seeing delays in shipments, et cetera. Nonetheless, it's pretty remarkable, folks. One of the captions this morning reading about this story. The trillionaire is selling a whistle shaped like a truck that will never be sold for a currency that is a joke of a joke. I mean, that pretty much sums it up, which is pretty remarkable nonetheless. They're sold out. 300 doge. And Elon Musk continues to make headlines. This market's making headlines. Check out the Nasdaq 100 popping. You're up, I mean, you're up almost 100 plus points from where we were just 8.45 this morning. You were trading at a low of 15,000. Yeah, you just popped 130 points in the Nasdaq 100. They almost just don't look as large as the moves because we just had a sell-off that was 700 points. But this move this morning, put it on a one minute to exacerbate the move we have. You pull up the 8.30 number, we're trading at 15,380. Nasdaq 100 is now 50 points above where we were trading at coming into that retail sales number. You have the S&Ps just kind of chopping around where we were at 8.30. You trade down to 4,606. We gained back those 15 points back to 4,622. Right now, the Dow, though, continuing to sell off quite a divergence. Got the Dow at 35,650. Those retail sales, maybe the market a little worried for some of the retail players. We jump over Walmart down about a 30% point being, if you're a growth stock target down 1.5%, let's see, TJ Maxx down 1.6%, Coles down 3%. Yeah, these are going to be impacted, these companies, when you see a retail number that is that big of a miss in terms of what they're doing. Look at Coles on that pullback to start the year. Really end last year from November 18th at 62 bucks. You're trading at 47.82. Okay, let's see what else I got pulled up here in terms of talking about inflation numbers. That's the retail sales number here. Yeah, this one's an interesting one. Talking about the impact powerful firms have as we're in an inflationary period right now. There's been quite a consolidation of power players in many different industries causing there to be a consolidation of power within few players. Now, the example they use in this article about inflation risk getting sticky as big firms. Flex pricing power is Coke and Pepsi. You take a look at Coke and Pepsi, which raise prices within days of each other in July and subsequently recorded substantial margins, or you have the meatpacking industry where President Biden is trying to curb some of the power of conglomerates out there for the meat prices, which rose really 15% last year. You're left with a couple of giants in each industry. Then this crisis happens, demand contracts, and because these other guys are no longer there to create competition, what happens? They can raise prices much easier than if they had smaller players in the market. Now, this is a graph of market power. Talking about US industries have become increasingly concentrated in the hands of a few players. As I expand that out, that's the percentage change in concentration, and you look even from 2000. Now, I would need to get somebody on here to explain what this means when you go from zero to 100% in terms of percentage change in concentration. But you're basically bumping up against it, and there's many industries that used to have a lot of players, and now they have basically a few. In that industry, and in the time of inflation, that might not be a good thing for consumers overall. All right, jumping around, what else we got going on? Yeah, this one's an interesting one. Okay, we're talking about crypto. We're talking about the metaverse, right? Now, this article out here talking about stocks and property will be turned into NFTs. Venture Capitalist says, Bill Tye, Venture Capitalist, not familiar, but he must have been on CMBC out there. Company stocks in real estate will be among the many things that get turned into non-fungible tokens in the future. Tech investors said that it's going to happen and it's not even a question. It's one of those that he's putting, it's a matter of when, not a matter of if. And I would tend to agree, because there's a lot of things, folks, that you can say. It's a matter of when, not a matter of if. It's not a matter of if, it's a matter of when. It's the expression, right? It's not a question of if it's going to happen. It's a question of when it's going to happen. I can tell you right now, flying cars, self-driving, flying cars, they're coming. It's not a question. If you don't think you're dialing up a self-driving car to pop up into your front door like the Jetson style, I don't know what to tell you. I mean, you are if you live long enough, because it's happening. It's just a matter of when. When you look at stocks, right? A stock is a certain asset, okay? It's a single asset. I mean, if you're, for an example, I mean, my simple fundamental understanding of this entire technological space, okay, is that just imagine if TFNN wanted to go public. Well, what do we do? We push out 100 shares of ownership. Each share represents 1% ownership in TFNN, okay? I imagine just from a simple understanding that I could somehow create some type of NFT that's a one-of-a-kind asset in a digital world. Each of those NFTs represents a 1% ownership as one share of TFNN. And those NFTs are able to be traded on an Ethereum blockchain or the Cordano blockchain. There's no reason why that can't happen. Now, I barely even understand what an NFT is. So if I can simply understand that an NFT is a one-of-a-kind asset, the crypto blockchain, or just a blockchain, is allowing for the transfer of those assets in a expedited, inexpensive way, okay? It's gonna happen. I mean, I think all the time, talk about as a trader, right? I think all the time, as a trader, why are markets closed over the weekend? Now, I don't wanna work over the weekend, okay? But it seems like in today's technological space where, and people do work over the weekend if they're not working during the week, I work five days a week, you know, with pretty long days out there, so I don't wanna work all weekend, even though I'm working, we're gonna finish this up because, imagine, there's no reason why shares can't get traded over the weekend. If you're developing a fintech world on NFTs of ownership of shares, we'll be right back, folks. 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Build the S&P 500 continue to climb for bold trades on U.S. large-cap stocks in either direction, trade SPXL, SPUU, SPXS, directions daily, S&P 500, bull and bear, leveraged ETFs, direction leveraged ETFs. An investor should carefully consider a fund's investment objective, risks, charges, and expenses before investing. A fund's prospectus and summary prospectus contain this and other information about direction shares. To obtain a fund's prospectus and summary prospectus call 866-476-7523 or visit investments.com. A fund's prospectus and summary prospectus should be read carefully before investing. An investment in the fund is subject to risk including the possible loss of principal. The funds are designed to be utilized only by sophisticated investors such as traders and active investors. Distributor, 4-Side Fund Services, LLC. Welcome back folks, we got quite a market right now. S&P is negative by 19 points still, quite a little bounce off the lows this morning. NASDAQ 100 though, back in the green quite a pop indeed. We put it back on a 15 minute, you're talking about a low this morning of approaching 15,300. We just popped almost 200 points folks. You zoom it in, markets only been open for 12 minutes and you're up more than 100 points in the NASDAQ 100 right now back to where we were at about 6.30 a.m. this morning with Dow selling off though. Dow down almost a full percent right now down nine tenths percent and you got the Russell down about five tenths percent. Jumping over to the market watch I'm going to take a look at some of the moves we have going on here. The banks really hitting the Dow, right? This is why I love this feature on the Thinkorswim platform. You jump over to the market watch, you pull up the indices, you can see the heat map and say geez what's happening to the Dow, right? Well what's happening to the Dow is you got JPMorgan down five percent, you got Goldman down 2.8 percent, you got Verizon down three quarters percent, you got Johnson down a full percent. Now what matters here is that the Dow for whatever crazy reason is a price weighted index, right? So you got JPMorgan, $160 stock today. You're down $8, okay? Home Depot is down 1.5 percent but you're talking about a stock that's trading at almost $400. They have a monumental impact. Home Depot is down $6 in price action down 1.5 percent because it's trading at 380. It's skewed impact there. You got Disney down 2.8 percent over there. Coca-Cola is in the red by 2.3 percent over there as well. On the flip side of it you have some of the stocks are barely in the green. Apple's up 3.10 percent. You got Microsoft up 7.10 percent but again Microsoft, both these stocks, I mean it's just so skewed. We've went over before a price weighted index makes zero sense whatsoever. As opposed to let's jump over to the Nasdaq 100. You got a lot of green there folks which is why you get the Nasdaq 100 for your points. The banks not a part of the Nasdaq 100 which is a big part of the negative action you're getting today especially hitting the Dow. We jump over to the S&P 500 and you see the banks weighing on things for sure but nothing to the likes of what we're getting on the tech sector. Navity is up 1.2 percent there. You got Microsoft and Apple and Google because you're not in the Dow. You got the market caps putting an impact on this index with the weight that they have and the companies they have, deservedly so. And let's jump around to some of those fang stocks. You got Amazon poppin' a good $40 on the open. You're up half a percent for Amazon shares. Microsoft up half a percent right now. You got Apple up two thirds, excuse me a quarter percent, two tenths percent, a little bit more. You get up over to Google shares up three quarters percent. There's a pop for you 50 bucks on Google on the open and we jumped to Meta up about half a percent as well and as I was saying what happened there Walmart? There's not much further retail sector. That is quite a pop on the open of almost $2 on Walmart, my goodness. Yeah, and it's been a run right from the open. There's a minute chart for Walmart shares. Quite a divergence here because you jump over to Target. Yeah, Target down 1.3 percent. So it looks like Walmart avoiding the depths of despair of the retail hit so far. Interesting action. Wonder why that market has such a divergence of Walmart versus the other players in the retail sector that are down dramatically. I mean, even you jump to some of the smaller ones, right? They're really down. Jump to Kohl's and TJ Maxx etc. Kohl's down 2.5 percent. TJ Maxx down 1.8 percent. Yeah, I mean the market is probably a little bit worried that you get such a retail sales pullback right now. And so what does that allow you to do? That allows you to do to potentially go into growth stocks again. It's the Nasdaq 100s are just higher but don't miss the account of banks and that they're having because the slide here is very real with JP Morgan escalating even from there. You down 5.6 percent. You just get about 10 bucks in JP Morgan man. You're back just like that folks. If you think you missed the run on banks, this might be by an opportunity in the year we got yields rising, but you got to pay attention to rising costs. I think JP Morgan had 11 percent increase in expenses. City had 18 percent almost to 20 percent. They have 33 percent in one quarter, I think it was on paraphrasing, but they had big, big increases to their expenses. But you just got quite a haircut. If you're looking for a position in JP Morgan, now you back things up on a weekly. Quite a mystery where we were earlier. We were talking about trading at $159 two years ago in JP Morgan. We're trading at $140 before COVID. Not that bad of a scenario, especially not that bad if you're worrying about some volatility this year because you're getting a dividend out of these companies and you're coming into a year where now we got yields 20 percent. We're probably going to get a few rate hikes this year. We will see, but nonetheless, a pullback for JP Morgan, a pullback for City as well. City getting a pop though up about $1.50 from where we were. So you cut that loss in half. City down 2 percent, Wells Fargo the strongest one out there. Look at that run up 1.7 percent from Wells Fargo. Bank of America down 2.6 percent from Bank of America. Now they are out with their earnings when next week. Yeah, Bank of America out with their numbers next Wednesday. Next Wednesday they'll be out with their numbers for Bank of America. All right, let's see what else they got going on. Retail sales stocks. We talked about that. We talked about the number in JP Morgan talked about there. Yeah, interesting one on Bill Ford out this morning. Ford's been quite a run recently and they talk about Bill Ford amassing even greater position on that company doubling down on four shares, quietly amassing more control of his grandfather's company in the process. He's the company's biggest individual shareholder 2.3 million shares of the company's common stock. Okay, but how many class B shares do you own which have all the voting power? More importantly, he owns 16.1 million or 23 percent of class B shares. That's quadruple what he had 10 years ago. Okay, now the class B shares can only be held by family members, I believe I get down here. So the biggest holder of the automakers class B shares carry super voting powers that have allowed the Ford family to retain control the company. Class B shares account for 2 percent of Ford's outstanding stock. They control 40 percent of the voting power and yes, class B shares are only available to family members. Now he got these shares from being on the board though. So it's not like he's spending a ton of money now. Most of the time, like we saw Elon Musk do when you exercise options, you'll usually sell a portion of that position to pay for the taxes. Otherwise, you have to take chunks of money from elsewhere to pay for the taxes of that transaction to not have to sell any of the options that you exercised. So what he's done is he's not sold any of the position in exercising the options and this is what he says here. He acquired 412,000. Yeah, they do. So I want to get the part that they talk about that it has to do with basically his action of being around on the board. Yeah, nonetheless, it does state that and it talks about in here that instead of cashing in on the 18 million in proceeds, he would have gotten from the exercising options, he just paid 20.5 million in cash as well as taxes on the gains to hold on to the shares. You know, it's a tantalizing article a little bit. It's always nice to see the owner of a company trying to maintain control and not selling shares. But I wouldn't read too much into that. I mean, that's a company that's been beaten down. They're finally on the run. That F-150 looks to be a huge success. They've traded from 12 bucks up to 24. But you back things up, folks. I mean, this stock was at 38 bucks in 1999. You've been chopping around between 5 and 15 bucks, you know from where you are, you look at where he was in 2012 you had this equity traded about $25 in between no, excuse me, $10 to what? Yeah, $10 basically $10 to $12 for the entire year of 2012. So I don't blame him for not selling those shares thinking he has more value. And guess what? Now it's trading at 24. Stay tuned, folks. We'll be right back. We'll be right back. The market is an experienced trader and gives their take on the market while taking calls and questions live from around the world. 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Do you want to make $1,000 per year on $100,000 invested or $7,000 per year on a secured Tiger First Mortgage? The Tiger First Mortgage Program may be just the program for you. The Tiger First Mortgage Program pays 7% per year, paid monthly. For more information you can call 877-518-9190 that's 877-518-9190 877-518-9190 This segment is brought to you by Think or Swim. For more information just click the Think or Swim banner on the front page of tfnn.com Welcome back folks. We get the S&Ps right now negative by 10 points. All the market is catching a little bit of a bid on the open right now. You get the NASDAQ 100 up an even 50. You're talking about basically right up to where we were at about 2 a.m. Eastern time you're now above where we were at the close and positive territory and you're talking about 200 points folks from where we were at 8.50 this morning. 15,322 How about 15,538 quite a turnaround. The Dow being bogged down by some of the banks this morning still. Dow down about 6.10% we jump over to those banks to see how they're reacting. Catching a little bit of a pop but nothing too dramatic kind of hanging where we were JP Morgan right where you opened almost down about 4.7%. Wells Fargo the strongest one out there with their numbers this morning down 2.2% and we jumped to city shares catching a little bit of a pop but still down 2.4%. Was it BlackRock out with their numbers? Yeah, BlackRock out with their numbers as well this morning down 1.7% from BlackRock. We jumped to the retail interesting action to say the least on Walmart catching a $2 pop for Walmart. Not sure, no real news on Walmart this morning but retail disappointing and Walmart though. Catching a bid while the other retail stocks suffered you got Target down about 9.10% I went over Kohl's and TJ Maxx we jumped to some of the home stocks. Low is going to be lower down 1.6% this morning. You got Home Depot down 1.6% as well this morning and man NASDAQ 100. Look at Apple Apple just traded up almost $3 from where you were at 8am this morning. No, exactly $3 Apple just added $50 billion in market cap in the last two hours. There's just some huge numbers when you're dealing with 16 plus billion shares of inequity Apple at 1.73 you're only 10 bucks away from basically all time highs. We jump over to Microsoft catching a little bit of a pop but well off the high cascade you had yesterday Microsoft at about 3.10 we jump over to Amazon shares up about half a percent right now let's jump to some of those growth stocks that have gotten pummeled man this stock zoom the pain doesn't end man this stock barely positive today but that is just straight to 1.60 for zoom. Roku shares catching a pop but same deal tough territory for those stocks that have gotten hurt Roku new lows 31 bucks thanks for starting your day with me folks Dave tuned we got live programming all day folks we got a Rand Basil Chapman coming up next we got Larry at 11 fast market at 12 Dave White