 The following is a presentation of TFNN. Good morning, market kickoff with your host, Tommy O'Brien. Good morning everybody, I'm Tommy O'Brien, coming to you live from TFNN Tuesday morning just after 9 AM Eastern time. We got 24 minutes to go until the opening bell and we got markets right now pretty calm. We're talking about flat, essentially in the S&P, you see the volatility overnight though. We just traded down about 14 S&P points between about 6 AM this morning to where we were at about 7.45. Right now though, basically right where we closed in the markets last night at 4 PM Eastern time, it was quite an acceleration, man. When I got off the air at about 10 o'clock, we were trading at 4,100 on the dot, S&P is charged up almost a full percent and you close out the day with a run of about 10 points even in the last few minutes of the session last night to 4,140 and we kick things off with flat territory. Right now, now tomorrow we get CPI data. On Thursday, we get PPI data. On Friday, we get bank earnings that kick things off. We got a Fed meeting that starts three weeks from today. We're going to get some economic data. We'll see how the market handles it. Handled it relatively well yesterday, man. That's for sure. And let's go over the markets right now. NASDAQ 100. We had some negative action yesterday, but boy, it clotted back. Look at the run that we had. Right? Yesterday, you're talking about almost 200 points down and all the way up back up by the end of the night, 175 we'll call it from 13,150 down to 12,975. You make it back to 13,150 by the end of the day. And we're basically right at that price point down about 20 points right now in the NASDAQ 100. The Dow positive by 17 right now, 33,768. We got the Russell positive by four. How about Bitcoin? Right? Catching some headlines justifiably. So Bitcoin, 30,640, it just doesn't stop, man. Ethereum, not quite the same acceleration as you can see, not even above where it was on Wednesday, but nonetheless, still pushing about 2,000 on Ethereum. Crude, still sitting above $80. You were just under that number briefly. We're at 80.22 right now, gold with some action yesterday to the downside. You claw back some of that in the overnight session. We're up by $9 on the session on gold. Of course, we had some dollar action yesterday. Let's jump over to the dollar right now. Why not? Because boy, it was quite a move yesterday in the dollar index. And what did we do? We gave it all back overnight, man. It's just mammoth what's going on in currencies, yields across the board. You jump over to the 10-year, lower price, higher yield coming at you. And let's see, what are we talking about right now? The yield on the 10-year as I jump across. We're looking at a yield on the 10-year of 3.41%, inching up a little bit. And let's check out the VIX volatility index sitting at about $19.13 right now. All right, let's check out some of the fang stocks. Apple had quite a day yesterday, right? Apple, what do they got? 16 billion shares outstanding, I think. It comes out that their PC sales down about 40%, which is much more than even many of the competitors in that market. Apple trades from about $165 on Tuesday down to almost $160 on Monday. Now, I've said before, folks, 16 billion shares outstanding. At the low yesterday from where it was on Thursday, Apple was at $5.16, $80 billion is what you're talking about. It gets back $30 billion by the end of the day. And right now, you're basically flat to slightly lower with the Nasdaq 100. All the tech stocks, man, we're getting pummeled yesterday and clawed back a lot of those losses. Look at Microsoft, man. Microsoft clawed back $4, almost $5 of losses it had, and that's after quite an acceleration on Thursday. So interesting how each one of these tech stocks kind of has its own story these days, right? Microsoft, you got ChatGPT in the rear end there, maybe providing some growth in the future. They have the Activision Blizzard deal going on, which is their deal. Looks to potentially get approved at some point, but there's still quite a spread there in terms of the possibility that does not get done. And then on the flip side of that, you have Google that is facing the competitor ChatGPT. We got some news on ChatGPT this morning, and AI is going to change the world, folks. It already is. If you have not played with ChatGPT, please go check it out because it is amazing what it can do, and amazing can go both ways, folks, but it's going to change the world. I was saying to friends yesterday, we see what happened to the internet when social media allowed everybody to get in on the internet and say whatever they want, right? The comment section of anything turns into just an absolute ignorant mess most of the time, okay? What's going to happen when AI is out there? So humans turned the internet comics section into, I mean, social media has just been a horrible force for many parts of society. There's obviously good qualities as well. But what happens when you've got AI bots writing articles, and then you have AI bots writing articles about the articles that AI bots wrote, right? It's a cyberdine feedback loop. That's what I call it, cyberdine terminator, okay? So it is pretty remarkable to see how quickly things can go, folks, because you hit a button, man, and just things get done in a heartbeat. You say to ChatGPT, and I'm digressing a bit in the top of the show, but if you haven't tried it out, please try it out, folks, because you could ask that thing anything. You could say, write me a five-page article on the benefits of gold versus the dollar, depending on Chairman Powell's interest rate policies as we approach the middle part of 2023, and then take that article, code it, put in banner ads, place it on the website, email it out to our email list. You can do all that. That's what's going to happen. You're going to hit a button, and it's all going to get done. So think about the workflow that you can put together and think about the influence that something like that is going to have. Now we're jumping around, but I'm going to stay on ChatGPT for a second, because you have out here, and let's go for the full segue. I was going to talk money supply, and we are going to talk money supply at 9.30, folks, okay? That's when we'll talk it, because this is a great article out there from Bloomberg, tumbling money supply alongs economists who foresaw inflation. My dad's sending me some charts on the Bloomberg terminal talking about money supply. There's your teaser for money supply, folks, okay? You talk about getting ahead of itself, but look at where we are on the downside. We have not had a downside to the money supply decreasing like we are seeing right now, getting sucked out of this economy. That possibly hinting, it's one of the starkest things that I've seen that could point to the fact that maybe inflation does come under control, because the money supply drop has been tremendous, man. And that has to do with, of course, the Fed. It has to do with stimulus. There's never been in my lifetime a stimulus package like we saw during COVID, and you can argue whether that was right or not. We're battling inflation. If we get it under control, maybe we will. But check this one out. Back to chat, BTT, chat, GPT. Now, this article is out, no, this is out today, yesterday. Okay. But I haven't read this. So it's making its way. The scariest part about this, right, is that the AI chat bot, so it fabricated a story accusing Jonathan Turley, who he is a big professor at George Washington University, okay? And the most intriguing and scary part about this, okay, is that the way it referenced it in its description, okay, the bot was asked to cite five examples of sexual harassment by US law professors with quotes from relevant newspaper articles. What it did was it created a post story. It created references. The robot went so far as to quote a phony Washington post article claiming he made sexually suggestive comments and attempted to touch a student in a sexual manner. Nothing like that had ever happened before. There was no article written by the post that it was referencing, okay? The way it lends credibility to what it's saying by creating fake articles, this is like, you know, step one of AI. And that article alone, the way it referenced that, okay, scary stuff, man, but it's going to change the world. And the next part of that, you'll see that you have Biden out there talking about potentially weighing possible rules for AI tools. So you're going to see a play out. Regulation might be appropriate. We'll see, but we're going to talk markets when we get back with our man, Kevin Hanks. Stay tuned, folks. If you're looking for potential trading setups in the stock market, then Rocket Equities and Options Report is a newsletter you should try. Tommy O'Brien delivers options and equity trades when the markets present them using a combination of fundamentals and technicals. Sign up for Rocket Equities and Options Report today with a 30-day money-back guarantee so you have nothing to risk. For all the details and to start your subscription today, visit the front page of TFNN.com. TFNN, Educating Investors. Everything in the universe is governed by the Fibonacci sequence. 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They walk you through hypothetical trades, usually three of them. Kevin Hinks, we got green on the board. Again, quite a resurgence yesterday from some of the lows. What do you think of this market, man? Good morning. Good morning, Tommy O'Brien. Yeah, a little bit of a quiet before the storm here. Tomorrow's CPI, then PPI on Thursday and retail sales on Friday. That'll be the last time we see that data before the next Fed meeting on May 2nd and 3rd. So I think there's some important data, only if it changes anyone's tone, Tommy. I don't think it will, frankly. I think that Jerome Powell wants to raise by 25 more basis points and then, frankly, pause. That's what I think he's guided that he wants to do. I think that's what the Fed speakers have all talked about, to get to a Fed funds rate over 5%. And then I think he wants to wait and see. And so when you look at something like that, tomorrow's data is only really important, Tommy, if it shows progress on inflation or changes the narrative at all. Right now the expectations for CPI are from 0.4 and the month over month down to 0.3 is the consensus. From year over year on the headline, it's 6% to 5.2%. That would be considered pretty good progress, I think, on inflation. But here's the problem, Tommy. The year over year core, the consensus estimate is for it to go to 5.5% to 5.6%. So actually up a tenth. And that would probably cause the markets a little bit of concern. Now you saw that, a little bit of that, yesterday in the dollar that spiked higher, it yielded that spike higher. So I think that shook the market, at least in the morning session, but the market was pretty resilient, Tommy, in terms of its ability to weather that storm and finish stronger on the day, or closer to unchanging slightly up on the day. I think the Russell is playing a key role right now. I think the regional banks and that tension is dissipating. I think that's giving the market a little more confidence. But Tommy, the next couple of days, the Fed minutes that we'll get tomorrow are pretty important. So a lot going on here as we wait for Friday and the beginning of early season. Some great numbers, man, talking about CPI tomorrow. You've talked about we get PPI after that, I believe on Thursday, but those are some big numbers, man. When you put it out there in my head, I'm saying, geez, those are big numbers. I'm sure everyone's saying, those are big numbers on the core number, especially if they're going up. What do you think of oil, Kevin, if I can jump? Because oil, of course, I have it up here in the Thinker Swim platform. It's been quite a decline, man. I mean, we popped a bit, of course, the last couple of weeks when you got the OPEC plus cut. So we're back up to $80. But when I put this back, going back to even just the beginning of last year, Kevin, we had those two big spikes up to 120 and 130 and from there, it's kind of been lower lows and lower highs. Do you see some pressure on the headline number for CPI? Now, I know that the Fed loves the core number, but do you think about crude and the risks of $80 and maybe pressure to the upside and how that may cause some problems for the Fed going forward? What do you think of the crude market sitting at $80 right now? I was just talking about that with Oliver Wrennich. I'm the TD Ameritrade Network, Tommy. Oil's going to be an issue going forward, the fact that it's moved from 64 to $80, currently trading about 80, 29, right around 80, 30, that should cause some issues with inflation. I don't know if it'll show up in this month's number, but it'll certainly show up in next month's number, Tommy, if it doesn't. So yeah, that's something that you're concerned people when you're trying to fight inflation. What can Jerome Baal do about that? Not very much, Tommy. From his perspective, he can't increase global oil supplies. All he can do is work on the demand side, and that's what he's doing. So I think if China comes online with OPEC Plus cutting supplies, I think oil could have another interesting spring and summer, Tommy. And can we jump to some of the tech companies? Because you referenced it yesterday, of course, and Apple, some big story yesterday, we saw some of the headlines, I think 40% was the drop in some of their PC sales. It's a tough industry in PC sales right now, but even versus their competitors, that 40%, a bigger drop than basically every other big PC maker out there. Apple trades lower, you get some of it back. What do you think of the action on Apple? Because boy, these tech companies, man, again, I got it up in the Thinkorswim platform. Apple trades from 130 to 165 this year. How do you see those tech companies? They've held up the market pretty well right now. And yesterday, we saw a few cracks in the Nasdaq 100, man. Yeah, you would think that the tech companies would have been weaker based on that data, but like Micron and some of the semi-conductor stocks were actually higher. Why is that? Well, because the general consensus out there is that, chip surpluses are bottoming, and that the overall chip sector looks better, looks like it's starting to recover. Remember chips are cyclical. I mean, so much demand for PCs got pulled forward during the pandemic that there's, who do you know, Tommy, right now that needs a new PC? Very few people. So it's just a matter of so many people, bought so many personal computers during the pandemic that there's just, it has to have an effect on demand going forward. So yeah, a lot going on here, but that bottoming cycle, if the idea is that it's bottoming, that's why you saw Micron rally, that's why you saw a lot of the other chips rally yesterday. You know, it's interesting that she's saying it, man, and we all lived it, but it was interesting, Kevin, I was getting myself set up at home and I was very fortunate where I got my home office kind of completed just a few months before COVID, just coincidentally, very fortunate. But even with that, people in the household, right? We have a 14-year-old daughter. Well, she needed a better laptop, man, because she was going to school from home. You have people in the house that were working from home half-time. So I think we bought two or three laptops on top of getting a desktop set up right before COVID, which I probably would have had it done if I hadn't got it done ahead of time. So we all lived it. It is pretty remarkable. With that in mind, Kevin, we get the bank earnings kick things off on Friday. We're coming into earnings season. What are you guys talking about on a fax market coming up today at 12? Well, as you know, Tommy, we are just in front of first quarter earnings season. And so today's will be a theme. We're working on the final theme for today's show right now. I don't have names yet, but we're waiting on those and figuring out what team we're gonna do. But like I said, yesterday we did a master's golf theme. We did Nike and Akushnet. So that, by the way, Akushnet, just in case you didn't know, owns Titleist, owns Footjoy, owns Scotty Cameron Putters. So we did kind of a master's theme today. We will probably get into more of a large-cap tech ahead of their earnings. Start talking about that, because I think that's gonna be pivotal, pivotal, sorry, to how this market trades the next couple of weeks is gonna be earnings in high-cap tech. Why? Because they've run so far during the first quarter. So we're working on those right now, Tommy. It'll be a good one, though. I appreciate the insight, man. And that's why I asked for the companies like Apple, man, because I look at Apple, and while I was talking about Kevin, they got 16 billion shares outstanding. That or they're about $5 almost. It was given up yesterday. It was at $80 billion in market caps, so it moves quickly, man. We appreciate the time, Kevin. As always, we'll be watching at 12 o'clock today, man, and we'll talk to you tomorrow. Have a great day, Tommy. Thanks for having me out. You too. Folks, check it out, 12 o'clock. When they go over those themes, it's great, because they're looking a little bit longer-term. I love when they do the earnings. The earnings have events that are usually that week, but when they go over the themes, they give you option strategies with a little bit longer-term perspective. If you're into options or you want to be folks, please check out the program at 12 o'clock, and we'll be right back for the market open. Market seems impossible to most people. 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For more information, just click the Think or Swim banner on the front page of TFNN.com. Welcome back, folks, and we got the NASDAQ 100 in red. S&Ps barely positive, dial up by 65 in the Russell, leading the way up by eight. It's gonna be interesting, man, if the Russell comes and turns into the driver, gonna be very interesting to see how banks do on Friday. And as Kevin said, we got a lot of data ahead of that, man. We got CPI, we got Fed Minutes, we got PPI, and that is the last major drop of data before we got a Fed meeting in three weeks. So think about that, right? That's the last major drop of data before a Fed meeting in three weeks. And the reason why, folks, is because that Fed meeting takes place May 2nd and 3rd. So it is in May, but you're gonna have none of the April data by then. And I agree with a lot of what Kevin says. And folks, Think or Swim, TD Ameritrade, they are an advertiser, I know I'm biased, okay? Kevin has an outstanding show. If you ever wanna learn about options, check out the program. He has a wealth of knowledge, experience, and watching them lay out those trades, okay? If you wanna understand options, please check it out. It's one of the easiest ways to learn is to watch their program. And going beyond that, man, TD Ameritrade, I'll pull it up after one of the segments. They have an outstanding education area, okay? They talk about it on the Think or Swim program when they run some ads within their program. They have an outstanding education where you can go through tutorials continually, completely for free, as a customer, okay? Tutorials that walk you through every aspect of options trading. I talked to, I mean, courses like that used to cost thousands, folks. To understand options, now they're completely free. So check out the program. But I agree with a lot of what he's saying in terms of, yeah, they're probably going 25 unless we get a surprise, because it would be a pretty big surprise, I think, if they stopped right now. Did you hear the core CPI numbers that Kevin's talking about? Might be a little bit too early to pause. Completely different conversation about cutting, okay? But so we have the meeting on May 2nd and 3rd, we get none of the April data. But what is interesting is the next meeting after that is June 13th and 14th. So we will get a plethora of data by that meeting in terms of getting April data and May data. So they have the ability to pause in that June meeting. What's gonna be so interesting is you are gonna have two months of data that we are gonna get from the time they meet on 2nd and 3rd of May, coming up in three weeks. So that's gonna be one of the deciding factors, of course. All right. Now that's the case for core CPI going up to 5.6% year over year, which is just bonkers by another standard. Somehow we've become, you become numb to things. So humans have the ability to get over a lot more than you think you can get over, right? You go through life, you accept your luxuries, you think you can't live without what you have, but humans are very resilient, just like any other animal on the planet, okay? And we've come to accept the inflation numbers for where they are. We've become accustomed to these numbers when in any other universe these numbers would be alarming to the third degree. Now, you wanna see some alarming stuff on the other side? Okay. So my dad's up early this morning, emailing me, this is on the front page of Bloomberg this morning, and it's quite an article, man. And he's got a chart up there that I showed you about the money supply. And boy, you talk about a chart. Tumbling money supply alarms economists who foresaw inflation. Tightening, quote unquote, gone too far as money supply signals recession. So, unfashionable since the 1980s, but think about where we were in the 80s, okay? As in it's been pretty loose policy and yields have been coming down since the 80s. And we might be in a little bit different period in terms of how we are now from where we were then, okay? Monitorists talking about the money supply gain attention. So Britain's money supply economists who emerged from obscurity in the pandemic by correctly anticipating sky high inflation before anyone else are sounding the alarm again and they're sounding it on the flip side, man. It's encouraging as a consumer that spends money to hear a legitimate reasonable case why inflation might be about to get crushed back. But guess what? It might go the other way to a recession and deflation. Money supply growth is collapsing in the UK, Eurozone and US. I'm gonna post this as I do this. I'll post it at the break folks in the tiger stand because it's an awesome article. Central bankers, all right, let me read that one again because money supply growth is collapsing in the UK, Eurozone and US. And they read that as a warning of recession and deflation. These are the same people that use this same indicator to indicate and predict sky high inflation before anybody else. So it makes sense to at least hear them out, okay? Central bankers have raised interest rates too far and if the so-called monetarists are approved right again they say there should be a clear out of officials. Those views are held by British economists and they go over them. That's the UK's leading voice on the subject and once an advisor to Margaret Thatcher when she was prime minister, their analysis jars with the mainstream consensus that economies are starting to pick up and inflation was primarily caused by supply shocks and energy prices. But for monetarists, growth and inflation are a function of the quantity of money in circulation and its velocity. The number of times it changes hands. Those measures are now pointing to a slump. Now this goes over the UK in this chart. You're talking about UK M4 money supply in black. And then you have the CPI inflation in red. Well, what happened folks? Money supply shot up through the roof in 2020. They sounded the alarm and it took about a year, right? It took about a year for that lag to really accelerate for their CPI numbers to rise. Excuse me. The economist have argued that central banks vast quantitative easing programs and sharp rate cuts in the pandemic led to double digit money supply growth in the US and Europe a year later inflation was above target on on course for 10%. Today, money supply is plummeting. And I'm reading a lot of this, but it's an awesome article and it's a great case. And it really is one of the first times I say, you know what, that's some evidence of real facts in the economy that really point to the fact that there has been a reversal man big time. And that doesn't even add in the banking crisis which is definitely gonna tighten things, okay? So in the Eurozone, the six month rate of change of M3 broad money, which measures deposits and cash equivalents of up to three year maturities is the weakest since the aftermath of the financial crisis in 2010. M1, Menaro money, now that's cash and overnight deposits is negative for the first time since the currency blocks birth in 1999, so quite statistics, right? In the UK, real M4 growth, cash and sterling liabilities is up to five years has fallen steeply below trend, okay? Now I'm jumping around a bit, I will post this in the den because if you have a chance, read it all folks. Eurozone money supply surge predicted inflation. Now the Eurozone M3 money supply is in black and again, Eurozone CPI, they're gonna align here because it just was everywhere, right? But this is the money supply and this is the inflation. And now what have we seen? Well, what we've seen is we've seen the money supply start to dip and we've seen inflation beginning to dip about a year or two later, okay? They talk about the raising of the rates, we all know what's going on there, all right? Japan basically the only one stuck at zero, okay? And they're probably gonna change that coming soon too, right? But the last part of this, man, is that pulling up the money supply function on the Bloomberg money supply M2, okay? Year over year index, this is, we'll tease it and we'll come back folks but what's great was my dad said to this, he's like, look where we are. Look where we are to even 2018. Look where we are compared to 2008, 2009, 2010. Look where we are compared to 2000. We'll be right back folks. 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We got the S&Ps right now, flat. 4135 and asset 100, negative by 50, Dow positive by 50. Let's see how some of those banks stocks are trading this morning. We had Apple shares down again, 60 cents, but hey, what's that $10 billion market cap hit for Apple? I can't help but think that way, man, because it's just such big numbers. Apple, yeah, in the negative again, we'll get the S&P flat, Dow positive and the Russell, man, up by six tenths percent right now. Let's see how some of the banks are trading ahead of their earnings on Friday. J.P. Morgan, now you're gonna be a little bit lower for J.P. Morgan, so it's not the banks doing it. Maybe it's the regional ones doing it. First Republic just sputtering around $13 and change as it has been for some time. I believe we got Sydney on their earnings on Friday as well. Wells Fargo with their numbers on earnings on Friday as well. Bank of America is, I believe next Tuesday, you got Morgan Stanley, Goldman Sachs, I believe next Tuesday or next week as well. All right, so jumping back to that article real quick and the chart that my dad was sending over and he's in the den right now, man. I, you know, it's like, and he just sent it to me and I was amazed when I just saw it and he was amazed too and that's why he was sending it to me, man, because if you don't think that that can matter folks in light of how things have mattered so dramatically during the pandemic in the last three years, then that's your opinion and we get to see how it plays out. But that would mean there are some really serious other forces at work that somehow determine everything and that somehow this insane spike to the money supplied to the upside followed by a collapse that we haven't seen anywhere on this chart. Now, what's going to complicate things even further, okay, is that we have an oil price at $80 that looks like it's got a floor at about 70 and probably has an upside of at least a hundred. You have an election season that's coming down the line in like 19 months. How is that even possible? But that's the case. So that's already ramping up. I don't imagine the Saudis are going to make life easy for Biden. No matter what you think about politics, that's probably the case. Probably not going to be easy oil as Biden looks to run for reelection. And so then oil is going to pressure on the prices. That's always a strain on the economy. It's a strain on everybody's pockets. And you got the money supply completely collapsing, man. Like, so the likes that we've never seen. Yeah, I would really pay attention to that chart folks because what they're talking about is recession and deflation. And what so many of the analysts have been talking about, I read you those articles in terms of what they're talking about, in terms of the bear cases, the bull cases. There's been a lot of very reasonable bear cases recently talking about the earnings hit, right? The consumer spending crisis. I mean, we see credit cards, we see loan defaults buying a car with a 7% interest rate right now. Well, that's a good segue to cars. Let's go to CarMax, because CarMax has their numbers out this morning. This morning last night, I was looking at it this morning. Decent numbers, up by 8.4%. Little bit of a mixed number in terms of where they come in for the economy though, in terms of the industry. The headline out there, huge earnings miss, points to trouble ahead for the new car market. They're up by 8.4%, what's going on there, right? Well, they miss on earnings, but the third quarter forecast call for new vehicle sales to increase, but rising prices, loan rates, and falling confidence will bite potentially. Nonetheless, stocks up by 8.4%. New car sales are expected to rise in the just ending third quarter, but a deteriorating market for used vehicles, okay? Which said, what am I doing? How did I get that article? No wonder it wasn't matching up. All right, I'll jump back to that one. The car industry is gonna be interesting. That was an old article, folks. Somehow it tied up on everything I was looking at, and we'll jump away from there. All right, in terms of what else? We talked about AI, and this is one of the segues I was gonna make too. So the Biden administration weighs possible rules for AI tools like chat, GPD, GPT fears grow over the potential use of AI to commit crimes and spread falsehoods. I don't know how you do this, essentially. I mean, what kind of rules do you put on that, okay? That's, you know, you gotta realize, folks, and what's gonna happen here eventually? I mean, we're almost there. You can't believe anything you see on the internet, folks. Can't see it, can't believe it, can't do anything about it, because you read stuff like this, it's gonna be AI-driven, and then you're gonna have a feedback loop where once one erroneous AI article is written, other AI functions are able to reference that AI article, right? So imagine the article that we talked about with the professor from George Washington. If that ever got published, and it didn't, okay? That was just one researcher testing out the program and then putting out the information they found, which was alarming to him, okay? And alerting the people that it was itself, and one of the people itself was a Fox News contributor, so of course he's gonna get his name out, and he should, to say, look at what can happen, okay? And the worry is, is that, yeah, you put out one article like that, okay? Citing a fake article, and then you're gonna get other articles citing the real article which cited the fake article, and then it's done, and before you know it, there's millions of views and you can't put it back in the bottle. But where do you go in terms of regulating that because it's gonna come out? Because the next step, folks, is that as technology catches up, nowadays we see videos and we kind of assume they're real because the technology is not quite there to create fake videos of fake people. It's gonna be here before we know it, man. You're gonna be able to talk to your chat GPT robot and say, make me a video of Tom Cruise saying this, flying an airplane, jumping out of the airplane and talking to me and wishing my son a happy birthday on the ride down. You're gonna be able to do it, man. Every video you're gonna see is you're gonna have to question it. The authenticity of everything out there you're gonna have to question. And it's unfortunate that that's probably the place you're going to, man. Yeah, and so it would be good, I think, to put some regulations there. But one of the things that this article talks about on the journal at the end, I believe, is, let me see if I could find the, yeah, Rep Jerry Conley, a Democrat from Virginia, expressed skepticism about Congress's ability to adopt AI rules pointing to its lack of action to address the awesome power that social media companies wield. And I would completely agree. You think that you're gonna get control of artificial intelligence that's gonna dominate and change the way that our lives run right now? That's not gonna happen when they can't even get ahold of Facebook, which is just, as I said, yesterday at CEDA, it's a horrible, horrible application in terms of the joy that it brings many people, especially young people, especially young girls, Instagram, et cetera. And they've basically done nothing. And that is like one of the few areas that both sides of the aisle politically are not fans of Facebook. And meanwhile, they still really can't clamp it down. And I'm not a fan of regulation, but to some degree, folks, there is a lot of good that government does, okay? And the truth lies somewhere in between with so much of what we talk about in life, okay? I can't stand government regulation, want it out of my life, all that stuff. There's a lot of good that it can do as well, okay? And you're seeing it in the banks. Can you imagine what would happen? Can you imagine what would happen if we didn't have Dodd-Frank around? Maybe it would have been better or not, but we put in all these regulations and still you got banks. We give them guarantees. We give them regulations. We tell everybody they're guaranteed up to 250,000. And what happens? You got public companies put in half a billion dollars in a bank that doesn't even have the money if they want it back, right? So regulations to certain degrees are a good thing. And chat, GPT is gonna change the way this world moves, man. And that might be for good and for bad, but I'm telling you, check it out. Because if you're in business, if you do anything, we're all gonna have the ability to harness that technology and we are right at the beginning. Folks, stay tuned. One more segment. S&Ps up by one. We'll be right back. 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 tigers' for just $1 for the year. There's no cash or added costs when you join our community of traders. 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When you subscribe, you'll get a weekly report from veteran day trader Larry Pesavento on stocks you need to pay attention to, and you can trust Larry's analysis. After all, he's got 45 years' experience as a day trader. Larry will also provide daily charts, videos, and data on the key markets that he's tracking. Expect notifications from Larry on market movement you need to act on at any time. 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. Subscribe to the Fibonacci 24-7 newsletter today, TFNN.com, educating investors. 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, as Kevin Hinks put it, maybe the storm, calm before the storm, right? CPIO tomorrow, PPI, out Thursday. We get Fed Minutes tomorrow. We get bank earnings on Friday, and we get the market flat right now, 41.36, basically sitting right where we were coming into the opening bell yesterday and right where we were at the closing bell yesterday. Now, jumping back to CarMax for their earnings of reality, getting their real numbers up. So they beat, in terms of earnings, 44 cents a share versus 20, let me try and blow that up. Now it's interesting in terms of what they're selling here. Gross profit per retail used unit, 22.77. That's up $82 from a year ago, okay? So they're making more money, I think that's how the headline even puts it, right? What do they say? The auto retailer squeezed more profit from each vehicle countering a sales drop and softening used car prices. Yeah, so they're squeezing more profit from it, is what they're doing. The average retail selling price of a used car fell 9.3% from a year ago, or about $2,700. But as I just said, they made 22.77 per a car, which was actually up. So look at that. They're selling the cars for $2,700 less, and they're making basically the same amount of money off and on a little bit more. Pretty interesting in terms of how they're navigating that, man, but they're getting it done, and maybe that means they're getting it done on the other side of that in terms of what they're paying for those cars, what they're selling those cars. The market loves it, man, they're up 8.8% on CarMax. Let's see how the fang stocks are trading as we wrap up the session right now. Apple shares, yeah, down half a percent to kick off the trading session, whoo, Microsoft down 2%, watch out, man. Look at this, man, some of the biggest equities out there, right? Trading lower and you still got the S&P up by one point right now. Tesla's up 1.6% right now, but the Nasdaq 100 off by 46. All right, folks, thanks so much for starting your trading day off with me. Stay tuned. We got our man, Basil Chapman, coming up next. He was in the tiger stand, talking a little bit of money supply in the last hour. Live programming after that, folks, thanks so much for starting your trading day, and we got CPI tomorrow morning, so that'll be an interesting one at 8.30. I'll be on the air at nine. Stay tuned for Basil, he's coming up live next. Have a great one, folks.