 Welcome back, folks. We got the S&Ps right now. As we continue to inch higher right now, you get the S&Ps up 109 points. That's 2.2 percent to the upside Nasdaq 100. Now up 3.1 percent. We got the Dow up one and a quarter percent right now. And what a great day, man. We got a great interview coming up. We're going to jump over to our man, Ed Egelinsky, folks. Ed is a managing director with Direction, head of sales and distribution, head of alternative investments. To learn more about their products, you can always click on the Direction banner right on the front page at TFNN.com. And, Ed, good afternoon. Quite a day, man. Great to talk to you. Thanks for coming on the program. Bulls the light today for sure. Let's be here. Are we going to have enough to talk about, man? So I want to talk to you about the market, the big picture of the market. But, boy, we got to kick things off with the action today, just a blowout number. I was reading earlier, just in terms of ETFs and people plowing money in TFs. I know you guys have the SOXL. It's just dramatic. That was a reference in the article I was talking about on Bloomberg. But what do you think about this market, Ed? What do you think it's got some lay? What do you see in this market as we got quite the acceleration on the heels of those NVIDIA numbers last night? Yeah. As you know, most of our trading vehicles are leveraging inverse. We're agnostic in terms of the direction of the market. We let the traders decide that. Certainly, the bull camp is having its way today. As you mentioned, NVIDIA's blowout earnings last night. Monetizing AI has definitely seen the stock skyrocket to yet another all-time high. Bring the semiconductor space with it as well. As you mentioned, we have a triple-leverage bull and bear on the NISI semiconductor index, SOXL on the bull side, SOXS on the bear side. And the same thing with NVIDIA. We're seeing a lot of flows, pre- and post-earnings, not just in the one and a half times bull NVIDIA product we have, which is NVDU. But also on the bear side, some people may be trying to hedge some profits or think that the valuations are stretched. So we have a bear non-leverage for those traders as well. So we're seeing a lot of flows today in general. We have this year, but the preponderance of the move continues to be on the bullish side, particularly with the mega cap names. We're seeing a lot of flows in our leverage and inverse single stock ETFs, not just in NVIDIA, but we have six of the seven magnificent seven single stocks available, either if you think the bull market's going to continue one and a half times bull, or if you think that these individual stocks might slow down on the bear side, non-leverage bear. The only one we don't have is meta of the magnificent seven on the single stock. Okay. And I know investors have fallen in love with those single stock ETFs, especially with the exposure. I mean, reading about them today for NVIDIA, my goodness, the number is even, it's a record day, right? 250 billion added to market cap, never been done before. That's where we sit right now. They'll probably finish somewhere in that ballpark as you're up pretty dramatically to put it lightly. So we jump from that. Of course, we have the bigger picture of the Fed in focus to some degree. This economy just chugs on with earnings. We saw it last night. We saw it with some of the bigger tech companies out there in terms of just pretty decent beats across the board trading higher, even though the bar has been pretty high. But how do you look at the picture, Ed, going a little bit big picture when we talk about the CPI? We've had some hot inflation numbers. We now get the market accelerating even higher. How do you look at that for traders with the S&P sitting at 5,100 right now as we still are dealing with inflation in this market? We still have a Fed that's pretty tight right now. Now, that can be debatable, of course. But how do you look at that with traders potentially positioning themselves with the CPI inflation still out there as one of those variables in focus? Yes, certainly the CPI and the PPI last week gave some traders some pause in terms of the timing of the Fed deciding maybe to start cutting rates. If you look at the Fed fund futures based on the minutes yesterday, the Fed minutes, it seems like it's being pushed out further into the year in terms of potential rate cuts. What we're seeing is, again, from short-term traders, is trading the contrarian trade right now, which is TMF, which is our triple-leverage 20-plus-year treasury. For those of you familiar with TLT, we're triple-leverage using that ETF and what's called the swap on an ETF to get that bullish exposure. But the bears have won so far this year. We have TMV, which is the triple-leverage on the 20-plus-year treasury bear. So we're seeing contrarian inflows in terms of bucking the trend, thinking that rates will start coming down from a short-term perspective. We also have the seven to 10-year people-contrade as well, a little bit on the shorter end of the curve. But the pamphletease resistance right now looks like interest rates continuing to climb. I think a technical level around on the 10-year is probably around 4.5% could be our next stop. How does that affect equities? I don't have to tell anybody in your audience. Certainly, it's going to be less vulnerable to the MAG7 or the tech sector, which has more cash on their balance sheets, where probably, if rates continue to go up, might hit a little bit are the small-cap stocks that tend to need more cash and tend to borrow more. It's remarkable how often the market has gotten ahead of the Fed this go-around, and then it reprices, and then in the span of almost two or three weeks, we're having an entire different conversation somehow in this market. But boy, those MAG7, they just power through no matter what it seems like the interest rates are doing right now. You go from there, and of course, inflation is persistent, and then you take a look at, I was wondering if I could get your take maybe on how commodities as we go towards... Traders, of course, the dollar's had a lot of volatility recently. That, of course, on the heels of the yields like you're talking about. But for traders, we've got a bunch of traders, whether it's in gold, of course, but many different commodities in our trading room. For traders looking to take advantage of maybe those moves in commodities we're getting based off, whether it's the dollar, whether it's the commodities themselves, what are you seeing out there at? You seeing anything there? Well, it's interesting. The dollar's strengthening. Definitely, there's an inverse relationship between the commodity gold and the dollar, and you're seeing that this year. But what's interesting is that from a trader's perspective, when you look at gold mining stocks, some of you might be familiar with GDXJ or GDX, we have leveraged versions of that 2x bull and bear. And what's interesting is that the gold mining stocks have performed much worse than gold itself. So a lot of our traders are trading the gold mining stocks. They have a high beta associated with it. So traders love to trade something with high a beta associated with it. But the trend has been lower with the gold mining stocks. And I think part of the reason is that interest rate narrative climbing, they definitely are more capital driven, need infusion of capital, and also have a lot more in terms of debt on their balance sheets. So that's probably adversely affecting gold mining stocks even more than the metal itself. In regards to crude oil, it's been the opposite. Crude oil has risen. I think part of that has been the geopolitical risk, whether it's the Black Sea, the Red Sea. There's a lot of supply chain potential issues and the ongoing conflict, unfortunately, in the Middle East. So you're seeing crude oil rally a little bit this year relative to the energy stocks. But we are seeing both activity in our 2x bull and bear, the energy select sector index, ERX, ERY. Yeah, it's pretty wild, man. And that was a quick nine minute said, yeah, ERX, I got up here 59.23, that crude market sitting at 78. And this was great having you on, man. That was great information on quite a busy day in the market. And we look forward to having you on in the future as well. I know we're setting up those interviews. We look forward to it, man. Thank you so much. Hope to see you again soon. Take care. Have a good day. 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