 Right now we're going to jump out of our over to our man Teddy keg stat folks You can read Teddy's Tiger Forex report check that out under the newsletter tab at TFNN It comes out every Monday morning Teddy's also got a webinar coming up one week from today folks Capitalized on time with calendar stock option spreads with Teddy keg stat That's going to be coming up a week from today 4 till 5 p.m. Eastern time the cost is $97. It's not a recurring subscription folks It's a 60-minute webinar. It will be arch talk archived I imagine we'll have a group a good group in there just as we had for Teddy's last webinar And I'm looking forward to hearing what he's going to be talking about Teddy keg stat. Good morning. Good morning, Tommy First of all, I appreciate you filling in for me for a couple days while I was gone Man, I was able to catch some of those programs as I was over in Europe man I appreciate it as always And let's jump into it Teddy you got a webinar coming up a week from today If we can kick things off with the webinar talking about calendar stock option spreads Capitalizing on time if you could just give maybe the listeners a brief preview of what you'll be talking about next Wednesday Sure. Yeah, I'm looking forward to next Wednesday's webinar. Yeah We're gonna the whole topic is gonna be calendar spreads and we're gonna go through you know Basically the decision tree on how you apply these trades, you know what type of expirations you look for and The value of that type of option trading strategy that gives to both, you know Beginner and advanced traders, especially with market timing and stuff like that. It's a great way of Really putting on a you know a trade that you know, it's a calendar spread is something you're not trading on an intraday basis It's something you put on and you don't necessarily forget about it But you do have to have a lot of time that passes for the trade to manifest itself But it's a very easy strategy to apply It's definitely something that you can work in with whether you're holding positions in stocks And that's what we go over to is that it's not just an option strategy to trade certain market directions or lack thereof But also how you can incorporate that into your portfolio with stocks that you already have and you can kind of add a little You know, it's you know, people know about covered calls. Well, that's a very simple strategy But it really doesn't make people very much money. It's something they used to talk about years ago This is something that's totally different It's a way of adding a little bit of extra juice to your portfolio while you're still maintaining a stock position as well Which I thought when we were talking about this webinar and you putting it together I remember having that conversation with you and that was the most intriguing myself and I love options, man calendars myself a Not that I struggled but because there's those two elements of things whether you're buying a short term selling a longer term I'm really looking forward to that hour myself man digging into that and finding out, you know What you're talking about so I can't wait for next Wednesday with that in mind man Let's talk about the market always great We talked to you on Wednesday. So usually we talked to you on Fed Day today is a Fed day What do you think about this market? What are you looking for for action? If anything from the chairman at two o'clock and the press conference to follow Well, I think short term leading up to the the number at 215 I think what you're really gonna see is probably a little bit of trend action for the next hour or so And then it's gonna probably tighten up as we get into the lunchtime hours and become pretty flatline I would think across the board and the S&Ps as well as the currencies The dollar's been under pressure for a few days You have a nice little move going on this morning And I think that's because yields have retracted in both the 30 year in the tenure Especially over the past few hours. So you're catching a nice bid in the euro US dollar But overall even the pound US dollar, you know in the most of the European currencies I would look it as a corrective move right now So dollar strength is not so much because of what's going on with the Fed It's it's the trend is pretty stretched, you know, just if there was no Fed meeting I think it would be pretty likely that we'd be having the bounce that we're having right now short term this week There's nothing very radical, you know, except for especially when you look at the currencies The ones that have the most extreme move over the last week or so is pretty much like the New Zealand and the Australian dollar Those are the heaviest beaten up currencies. The yen hasn't really moved much. It's hanging below its highs I think a lot of that has to do with they're waiting on our Fed decision because you have the Bank of Japan That also came out with us some speak last week. So definitely, I think what we will see after today A lot of reaction because it'll be really interesting to see what palest tone is and how that makes the boj react And I think if if he remains fairly hawkish That you'll probably see a reaction from the Bank of Japan within the next week or so as well Yeah, that yen chart is something right man pushing 147 72 right now from just 138 recently And boy, it's been you know some pullbacks, but a pretty straight trip from that 127 low man with some decent pullbacks But we almost got it all back from where we were at 151 which is remarkable crude is helping that as well I'm sorry say that again. I said crude is helping that as well I mean we pretty much have a set floor now about 70 to 75 dollars in crude I would be stunned if we get below that price any time the next two years Really really honestly, I think that's pretty much a floor So we're looking at seeing it a hundred plus plus dollar oil within the next couple of months and definitely as we move into 2024 Yeah, you beat me to the question man when I was thinking about talking to you out crude is always in the forefront of the mind We've had that discussion for some time on a shorter term basis and I love the longer term look and I probably agree with you man because You know $70 crude in the context of where we are in the context of prices for everything You know, it's always interesting Teddy I was just in Europe of course when you're covering for me and Having the conversation with Europeans man They they laugh at the notion that we're overpaying for crude when boy their costs of crude are price number one in a leader And it's just just so much more expensive than what we're paying in general But on a shorter term basis, let's say, you know because we got shorter term traders out there We got traders out there trading whether it's crude even on an intraday basis What do you think of light sweet crude at like $90 right now? It's been quite a run from 78 bucks let alone the run we had from $67 less than three months ago. Do you see some action here? You're looking for a plateau around 90 You think it may be a test at $84 high from August. What do you think a crude at $90 right now? I kind of like it where it's at right now. I think you could see a correction back to probably maybe around 80 I don't think you'll touch the $70 or any upper 70 area for a while I think right now especially unless you see a big pullback in yields if that happens if all of a sudden the Fed stops Being hawkish and puts on not just a pause But has a real dovish outlook for the next like somewhere in the next six months I think you might see a short-term correction. I mean crude has had a nice run-up over the past like what is it? Since the end of August we were at 77. You're looking at a $13 move Which is really not necessarily demand driven. It's more kind of event driven So once we have the demand factor and if we have to watch what supply goes, you know, we're in the fall We're switching the refinery for the way we you know process crude in this country That always causes an uptick in oil as well So I think it's gonna be hard to see the market get below 80 bucks a barrel And even if it does I would be in a buy break by break posture I would be very careful selling into those lows, you know I think you're out really long-term and short-term. It's gonna be pushing back above a hundred We got a question in the Tigers den Teddy It's talking about the China slowdown. Do you see how do you see the China slowdown potentially impacting the US dollars the question? Do you got any insight into that? Well actually that the China slowdown is kind of an interesting thing because of the way bricks are starting to come into play And I think that is if you see over the way I see it is like this inflation has come to the point where you know Everyone's watching their their their pocketbook across America, you know, and I've been joking about, you know A little joey getting screwed at Christmas this year It's gonna happen, you know, and here's the thing is if little joey doesn't get his GI Joe with the kung fu grip Well, where does that come from it comes from China? That means China's not making those GI Joe's, you know I mean it's a simplified Situation but that's really expands into everything and I think that's gonna give strength to the dollar in the short run So I love it man Teddy I appreciate it as always we look forward to talking next Wednesday And I look forward to the options where when our next Wednesday as well, man We'll talk to you next Wednesday brother. Thanks Tommy. Have a good one. Thanks folks. We'll be right back. Stay tuned