 of TFNN, the morning markets kickoff with your host Tommy O'Brien. Good morning everybody I'm Tommy O'Brien company a live firm TFNN Monday morning 9 0 6 a.m. As we kick off the trading week markets bouncing in dramatic fashion right now you get the S&Ps up 30 points that's almost seven tenths percent you see the acceleration we bounced last night at 44 46 almost right where we were the close of Friday's action we dipped slightly below that level and then man if you look where we are you're talking about 34 points almost from where we were the lows last night in the S&P climbing higher NASDAQ 100 catching a bounce it was quite an acceleration to lower prices on Friday we dipped below 15,540 we almost get to 15,400 overnight we're about 130 points off of the lows last night Dow 225 points higher in the Russell 17 points higher this morning crude catching a bit quite the acceleration we talked about on the update this morning take a look at crude you put it on a daily we're talking about highs of 76 98 and OPEC why not we'll kick it off with a crude story OPEC see stronger demand for its crude this year and next stronger demand for the crude on a combination of rising global fuel consumption and output disruptions elsewhere latest data data from the group indicate that the world will continue to face an oil supply deficit in the coming months even as his members revive idle production nonetheless crude continuing to catch a bit bumping up near those recent highs of 76 98 recently gold pulling back a few dollars 1788 you look at gold on a daily and zooming in on the action take this off real quick gold the pullback September 7th when was that out of reference last Tuesday yes to kick off the week we trade from a price point of 1833 down to 1796 for the close they take a look at gold for some reference I was looking at this earlier just for a Fibonacci in terms of if is this our pullback you're talking about a price level about 1776 would be the 382 of this pop that we've had higher from that low we had on August 9th and notes and bonds pretty tame action to kick things off we get some CPI dad out tomorrow morning right now you get the 10 year up to ticks that's correlating to a yield we're talking about a yield right now 1.33% on the 10 year let's jump over the VIX volatility index this morning quite a spike on Friday 21 13 even with the markets just you know skyrocket high I mean look where we are in the S&P we're doing with the VIX at 19 right now and we're talking about an S&P within 70 points of all-time highs still a little volatility but Friday's action and look at the S&P of the way it rolled over last week five consecutive days today you're catching a bounce Nasdaq had been stronger but you got a little bit of a world over there especially Wednesday Thursday Friday red bars from where you were Friday's acceleration you see we're up to a price level in the Nasdaq 100 of 15,660 we closed out at 15 excuse me 15,660 close out 15,425 was that 235 points from high to low in the Nasdaq 100 now we're bouncing this morning putting this back on it's putting on a 30 minute and you know it's gonna be an interesting open only because look at the action we had in terms of Wednesday you trade higher you rip lower on the open Thursday you trade higher you rip lower on the open and Friday you didn't even wait until the open at about yeah I guess 930 you climb higher again and trade higher for the fourth consecutive day you have overnight action to the upside and we got about 20 minutes to go until the opening bell this morning all the markets though in the green but as you see you know we're talking about a series of lower lows lower highs the Dow was really lower yesterday take a look at the S&P we're talking about the same thing all right and then the Nasdaq had been so strong early in the week but even the Nasdaq nowhere near where we were I mean look at where we are we're just at back to the lows that we had intraday when things looked a little dicey at noon Eastern time you had quite the sell-off towards the end of the day all right let's jump around to what else we have going on and take a look at some of the stories that we have up here where am I gonna kick things off at excuse me one second while I pull it up here we go okay virgin galactic back in it so they're delaying its first commercial research space mission after a third-party supplier warned of a potential defect in a component I mean the stock very volatile we all know the the run that's had from high to low here 2449 no real reaction on that I just want to emphasize though the type of volatility would deal with here twice people got caught at these highs remarkable early in the year at 62 80 you accelerate higher into when they actually go into space and you sell off yet again you're trading at 25 16 they have a long time until they're making any money and they're raising money from anytime this stock price goes is up here which you got to keep in mind if you're a buyer I mean they're shown that they're gonna be taking money off the table anything that that goes higher I think Dell got an upgrade today added the computer maker stock to its conviction buy list Goldman Sachs Dell that Danny plenty of Dell's in my time quite the acceleration as home computing computers overall and this morning you're gonna open a little bit higher to about 97.09 on that upgrade Viacom planning to revamp its paramount pitchers unit according to people really the matter the revamp which would separate the TV and film operations could be announced as soon as today now it's interesting here is that they have paramount they have paramount plus I'm always interested in the streaming sector and that's pulled back about 30 cents and it's interesting how you know the consolidation here we had the Wang blow up in terms of the acceleration of 101 97 the liquidation there we chop around at about $40 since we hit that price level on March 26 crazy you get six months of action over there I think during that time to you the discovery and HBO merger that happened one of the other big streaming brands but it looks like they're gonna try and separate TV and film nonetheless paramount plus it's a tough tough order to compete with the streamers out there in terms of you know the run that Netflix is sad Netflix I believe they just got friends right or the or is it Seinfeld's gonna get Seinfeld I think it was and that looking to drive some action with some of their other content you make it up to 16 choose excuse me 615 last week close at 598 we're a little bit higher with the market today there's your action Netflix that was an all-time high Disney said quite a run as well last week you're up to 184 12 you'd pull back to a 382 of the run it had from November on Disney zooming in on the action 184 12 Disney particularly volatile with the market you're up almost $2 right now in the pre-market with tech stocks and the market overall trading higher and we talked about Netflix as well Disney will show the remainder of its 2021 movie releases exclusively in theaters rather than making them simultaneously available on Disney plus streaming service Disney's Shang-Chi and the legend of the 10 rings top the weekend box office once again following its record Labor Day weekend performance with the movie showing exclusively in theaters so Disney feeling pretty comfortable to push things back to the movie theater business now they've grown Disney plus tremendously it'll be interesting to see how they do merge these two aspirations in terms of making money at the box office while growing the Disney plus brand one of the things that's particularly interesting is that you look back to 2019 before COVID believe they had 10 different films that grows to billion dollars at the box office that's a business they want to get back into and that's part of the reason why I was such a bull on Disney am because those brands are still going to exist I mean the Marvel movies right Shang-Chi for particular just beat a Labor Day record at the box office during a time when many people still hasn't to be back in a cramped movie theater interesting action Disney up to about 185 with the market we got a positive mark on all across the board Bitcoin one of the only things in the red this morning we got gold down about a dollar inch and back towards the green we get S&Ps up 29 points we got 15 minutes to go until the opening bell stay tuned folks coming back going over what else we have happening this week this day we're back Golden ratios give shape to everything in our world represented in the Fibonacci sequence these special numbers to find the patterns that make up our universe not even markets can escape the omnipotence of these ratios Larry Pezzavento is a 45 year market veteran who has published nearly a dozen books on the powerful patterns we find in nature and their relationships with the ever elusive markets Larry's newsletter Fibonacci 24 7 will teach you to harness the power of these 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Welcome back folks we have the S&P's up 29 the NASDAQ 100 up 95 all the markets green across the board right now jumping over to what else we have going on so we get CPI data out tomorrow let's make sure we got it yes so U.S. consumer price index out tomorrow we have an Apple product launch event going on tomorrow as well quadruple witching going on this Friday in the markets in terms of exploration jumping back to so the Apple case I believe I had it and it was mentioned up here but in terms of Apple and Epic Epic is going to be appealing this the CEO of Epic is that it Epic Games coming out and saying off to find it or it's even maybe it's private that it's not a win for consumers or developers Apple trading lower because immediately they're going to have to pay back Epic 30% of what it owed them over that time which is a substantial amount of money also going to allow payments out of the app in terms of the iPhone store but not really win for consumers even though it was labeled that because they were fighting against monopolistic tendencies was the phrase out there Apple you're talking about a company with 16.5 billion shares outstanding I was joking with some friends by noon that nice little morning for Apple wiping off about a hundred billion dollars in market cap by noon Eastern time nonetheless Apple going to open about a half a point higher this morning and we've had it happen each of the last three days that we get the market higher into the open as we talked about Wednesday we came in I guess relatively flat sold off Thursday you popped into the open sold off Friday you really got an acceleration into higher prices almost up to the highs that we had on Thursday as well sold off and today we're kind of right back up to those lower levels of Friday's action we'll see where we go from there in terms of what we have going on in individual equities Coinbase there going to be reason raising 1.5 billion in a bond sale I would be pushing out Boku bonds managing a company at the interest rates that we currently have look at a raise 1.5 billion in a debut bond offering Goldman Sachs managing the sale from its high yield syndicate test may price the deal soon as Tuesday the bonds will mature at seven to ten years with a call and a call with investors scheduled for Monday New York capital raise will bolster the company's balance sheet proceeds earmarked for general corporate expenses not bad which may include continued investments in product development potential investments in or acquisitions of other companies products technologies they basically can do whatever they'd like let's see so they got about 4.4 billion dollars in cash and cash equivalents and about 1.5 billion in non-current liabilities the company's facing increasing competitive pressure from a slew of new and upcoming entrance FTX dot US is that the one that Brady's out there pumping it might be bullish due to the launch of this year is expected to be bankroll with a 10 billion dollars in funding not bad yeah 10 billion dollars in funding and we jumped to coinbase this morning trading a little bit lower from two eight forty eight to two forty six I think they're right at the the reference price right was that 250 something like that maybe 240 at a time when Bitcoin has been relatively strong back to you know 45 to 50 thousand the run we just had that's quite a rebound from the lows we were chopping around between May and July Ethereum even stronger than Bitcoin they've had some sell-offs when Bitcoin does but you're talking about Ethereum trading at 3225 relatively holding up well and Coinbase though not able to get the acceleration that they had in terms of right out of the gate people thinking it was definitely going to trade above that 250 price point not quite the case now I mean you're talking about a company value of 52 billion dollars almost hard to understand the value of a billion dollars so of course that's quite a price tag still at 248 nonetheless all right jumping around American Airlines right Airlines debt pile look at this graph folks sky high debt global airlines debt pile grew to 340 billion as pandemic persist when you talk about loans are in the black bonds are in the pink we have quite an acceleration going on there and the spread of the delta variant may lead to other countries imposing tougher quarantine rules quarantine rules they the industry's outstanding debt has jumped 23% since 2020 to 340 billion so far this year global air carriers have sold 63 billion dollars in bonds and loans boy travel better pickup right that's quite a price tag on some of these easy jet raise 400 million um here's another example on the Fox provided nonetheless Japan Airlines 300 billion yen or 2.7 billion us fresh funding yeah it's just all across the board so I'd be very careful with these airlines in the US the US saw hefty sales following Labor Day holidays last week that shocked up 76 billion dollars in issuance the high yield pipeline includes deals for let's see unifracks not familiar 1.2 billion in bonds to back its acquisition of Lydall and Solanus lots of action going on in terms of the markets in terms of the debt in terms of airlines jumping around two airlines now these uh yeah quite the sell-off we have the volatility here from Thursday to Friday's action we look at a 15 minute right you accelerate to 2061 you give it all back on Friday we're down to 1920 again Delta Airlines pretty similar deal 4175 3977 Bowen has really been lagging we're 211 right now you take a look at Boeing that was lining up pretty nicely in terms of potentially bumping up near the bottom portion of that trend line but man what I'd be a little bit worried about now is that you come off where we were in March you touched that level in October you accelerate higher you trade to the lower trend line and now we've actually dipped below that excuse me folks and we've bounced up to that channel line potentially from 210 to 216 not a small bounce uh and that could be the the path to actually lower prices remarkable if that's the case for a company like Boeing when you're sitting at 446 in the beginning of 2019 we're more than cut in half um but Boeing I'm not sure what's the deal if I was going to be in the airlines I would probably be getting you into a company like Delta um is one way that you can make that trade the cruises are going to be a time as well I know I'm just stating it but you may have a long time with these in terms of a year or two as things persist unfortunately you know your carnival will be back to $50 eventually but you can see how quickly you can shave off the 30 your investment when you trade from 3152 on June 7th and by the middle of July you're trading at $19 you lose $14 of 32 you're talking about you know 35 40 percent haircut and there's no reason why this can't be back down to 15 16 bucks if cruise lines have a problem getting some demand after all this all right jumping around to what else we got going on I talked about OPEC let's see what other stories I got here well let's take a look at some of the stocks that I like to take a look at as well we talked about Disney 184 you're up to 185 right now uber is what I've talked about as well now ubers up about 40 cents ubers pull back to the 382 1371 was the low 64 or 5 that would be an area you definitely want to hold that 3868 it's also nice that you're bumping up here you pull back to the 618 that's definitely an area that has support here and I can't imagine you know you're talking about you jump over and you're talking about a company valued at $75 billion they will be around they will be profitable you know I don't see that company dropping below 50 60 billion unless the unfortunately COVID takes the terms for the worst because travel is going to pick up in a big way business travel might be gone but that's the same with the airlines in terms of possibly getting back now that's why I bring up the debt though because no matter how much money you're making if you got debt loads approaching half a billion dollars um that's going to weigh on those airlines no matter what happens all right folks we got markets coming into the basically session pre-market session highs for the open s and p's up 32 points nasdaq 100 up 102 dollop 252 stay tuned folks I'll be right back to the open are you having fun trading the markets but having trouble finding like-minded individuals to discuss your trading and investment ideas with become an apex predator in the trading market and join the tiger's den trading room only at tfnn.com the tiger's den is an exclusive trading room where successful traders from around the world come to exchange trades and ideas join the den and surround yourself with the sharpest minds in the trading world subscribers to the tiger's den are also the first to have their questions answered live on air and can privately chat with our tfnn hosts live during their shows 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new iphone's apple watch and air pods on tuesday i wonder how they're gonna upgrade all these at some point the updates become somewhat marginal i like getting my upgrade for the iphone 12 or it provides 5g so i should be good for a while i know some of my friends really love all the apple products right they'll upgrade it initially right away as soon as they can and sell their other phone or whatever uh air pods not sure whether we'll go from there but nonetheless they're gonna hold uh its annual iphone launch event on tuesday exclusively produced fall launches are a signature quirk of the company going back over a decade and uh yeah so they're gonna have a few products out there last year due to covet apple revealed its new watches in september then follow that event in october with the iphone 12 event and uh all of apple's product segments have been on a tear this year people continue work from home how about iphone revenue up 49.78 percent uh and let's see the company's expected to introduce new iphone's and update its air pods and apple watch and i will say i am a little bit of an apple fan as apple continues to pop now you're up 1.5 percent as this market is rocking higher to start monday trading uh the apple watch now i am an apple fan as i say biased as it comes uh but the apple watch has actually been something i've really enjoyed in terms of being able to track whether it's steps your health your heart rate i think it has an ekg in there um you can do breathing exercises and if you pay the cellular you can actually use it away from your phone which i thought was the coolest thing if you're active at all if you want to take more walks if you want to be able to text or call while you're taking those walks you don't want to have your phone on you use the iphone so there's my apple ad for the day but i do enjoy that uh um i watch i do and it's been a cool factor trying to work out keep your heart rate all that stuff it is pretty cool okay let's jump around to some of the other fang stocks as apple markets higher you got microsoft pop and higher up about nine tenth percent google rarely traded back with apple on friday and look at that up 1.3 percent because they'll be dealing with the play store they're dealing with singular similar legal problems i believe with epic as well having to do with their monopoly of the game store i imagine things might be leading to an indication they would happen the same way but you have to realize is this would have been a monumental defeat actually for apple if they were deemed a monopoly and were not able to charge 30 percent of all transactions within their app store as having monopolistic tendencies and so that's the big win here and in the long run that's probably much more important than allowing companies to divert customers away from the app store because you know i saw people joking online i mean just the frustration level when you you know if you got to pull your credit card out online you're like ah come on i mean maybe every digit saved in a online whatever it is it's very cumbersome is the point to make that transaction so a huge difference from people who are actually willing to go into an app then log from the app to the website to the website to the payment portal as opposed to just hitting the pay for button within the apple store and you're automatically built unfortunately people are very lazy they don't like to do those types of things and it can be a huge difference and whether you succeed or not in terms of that transition uh but apple up 1.3 percent today it's checking on amazon up about eight tenths percent right now we'll check in on facebook facebook pulling back from there high opening still up about two tenths percent snapchat up about three tenths checking on some of my favorites disney up about half percent on the heels of their movie shangshi doing pretty well as well but they're going to be offering now it's interesting uh hbo right AT&T time one or another they've spun off i believe hbo AT&T up nine tenths percent let's see horizon how they're trading up about a half percent with the market today um but hbo i watched i think it was malignant last night which is one of those movies that i think is in theaters and they just released to hbo max is one of the reasons why i signed up for hbo max for the year because they're releasing all those films directly to the subscriber base not sure i'll say on hbo once those go back now i'm also a disney subscriber and i subscribe to disney because you got kids in the house and if you got kids in the house and you got disney and it's pretty cheap all things considered in terms of disney even though they're gonna start raising those prices um that's just something to look about now netflix i would say the same thing versus disney and then netflix giving back some of the gains it's had recently you've still had quite an acceleration you're up to 594 uh putting this on a daily i mean 594 would be a record high all but last week i think yeah 594 what was our high going back to january 593 29 so we're basically right where we were on some the highs of january before we had to pull back uh netflix does have a strong slate of content coming up and if you're using netflix in any way if you got kids in the house and everybody's using it that's probably one you're not going to be canceling as well i'm actually looking forward to binging on maybe some some sign felts haven't seen it in a while love that show why not and uh i do like some of the other content that they put out as well so it'll be interesting to see how these streaming wars play out as things go forward all right we get a little bit of a pullback from where we were on the open only bring it up because not quite what you'd want i mean makes sense you'd have a little give back after that acceleration but if you look where we were in terms of the open yesterday we did pop in a pretty similar fashion and within the span of about 45 minutes by 10 that's the 10 o'clock bar so yeah 45 minutes by 10 15 in the net s and p's you would drop from 40 509 about 30 points so we'll see where we go let's see how the vixx is trading out this morning as well vixx trading in about 1917 we take a look at crude now i'm going to go over some crude numbers here because this is some pretty strong numbers from the article we were talking about in terms of opac crude straight up 90 cents he's up crude is up 1.3 percent and taking a look at the numbers uh the world's appetite for opac crude was revised up this is the opac seeing stronger demand that we talked about in reference earlier in the show world's appetite for opac crude was revised up by now this is for opac crude okay 260 000 barrels a day for the year compared to just last month's estimate largely due to supply disruptions outside of the group north america output was curbed by hurricane ida and a fire an offshore platform in mexico you have a lot of factors going in now the demand side of things for opac crude was revised higher by 1.12 million barrels a day for 2022 that's going out the next year global consumption is expected to increase by 4.2 million barrels a day next year to 100 plus million barrels a day that's a million barrels a day higher than last month's estimate so those are the demand numbers all right opac crude the appetite for opac crude revised up by 260 000 now the production side was is only rising by 150 000 barrels a day to 26.76 barrels a day in august significantly below the average global demand for opac crude it doesn't you know the equation points to higher prices is the point i'm getting to as i walk these through that leaves plenty of space for the organization and its allies to gradually revive 400 000 barrels a day of idle production each month in line with their agreement um still the cartel's data show that it isn't just non-opac nations experiencing production problems despite being permitted to increase production in august several african members showed little growth or in case Nigeria saw a drop in production oil going higher $70.74 we get the market pulling back a little bit on the open stay tuned folks i'll be right back are you in the market for buying or selling real estate in the bay area including the surrounding st petersburg tampa and clear water markets tiger real estate LLC is a firm that has extensive experience in the tampa bay area whether you're looking to sell your current property for maximum value or you're in the market for a second home or investment property tiger realty has the experience across all areas of real estate in the tampa bay area to help buyers and sellers make the most informed decisions across all price levels from the price you should be paying per square foot in certain up and coming areas to the type of cash flow investment properties are capable of creating tiger real estate can help you make the best decision when it comes to all areas of the 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mobile device 24 hours per day go to tfnn.com then hit watch tiger tv that's tfnn.com then hit watch tiger tv welcome back folks while that was a short-lived run to higher prices the russell making it to negative prices just like that we give back 20 points in the russell that's almost a full percent we're trading at 22 22 you're flat right now in the russell nasdaq 100 i mean look at this drop we just dropped from a price point of 15,005 57 you're down 100 points just like that blowing through the 618 of the full run we had from higher prices overnight s&p's hanging on to 15 points of gains right now i talked about in terms of the drop we had on wednesday thursday friday i mean look at this run nasdaq 100 right wednesday sell off on the open thursday sell off on the open sell off intraday friday sell off on the open sell off intraday we get the biggest bar yet to kick off monday trading we got quad witching coming up on friday we have a fed meeting next week we got cpi data tomorrow and we have the vixx right now trading at a price point of 20 on the dot i imagine we hit 21 13 as this market continues to drop folks it is not finding a bit remarkable i did not what would be the probability at 9 30 that we'd be read across the board by 9 45 you would have needed a lot of action a lot of odds right think about that what price would you have needed to be given for all of the markets to potentially be in the red by 9 45 now we get the dial up 191 dial the strongest index right now for sure up more than half a percent s&p's up a 30 percent russell in the red and the nasdaq barely hanging on to the gains let's jump around some of the fang stocks amazon shares trading still positive by about two tenths amazon's held up really well folks retirement wise you want to get into amazon you can always buy a partial position right now and you know there are brokerages out there that do offer slivers of shares if you don't want to get in a full 13500 i understand but amazon just such a strong company to just have their hands in almost so many cookie jars the growth they have we're pushing up against the upper boundary line here so a little tough to get into it when you're doing that you know you've faced resistance on a couple occasions but if you're buying this for retirement for a long period of time this could be on the way to its next leg up it really could let's jump to microsoft shares interesting that we get this dramatic pullback and we still have the big dogs in positive territory you know you got did get a pullback but nothing's so crazy for the hundred point drop you got in the nasdaq 100 we got microsoft up three tenths percent apple shares up eight tenths percent right now they're still putting a good amount into the s&p and the nasdaq when you look at it google shares right now up two thirds percent uh facebook shares look at that drop off by about five bucks trading at 377 let's jump to tesla shares down 2.1 percent that's quite a drop for tesla hitting the market and we are folks we're gonna get red right now we're gonna get it in the nasdaq at least and we got into the russell nasdaq clinging on to those gains not what you want to see folks coming in after you saw wednesday thursday friday action intraday sell-offs across the board uh and we're 15 minutes in the trading week as i mentioned quad witching cpi data out tomorrow jumping over to a little analysis of the cpi data the headline as cnbc puts it bracing for a hot consumer inflation report the week ahead so we get this number out tomorrow um we get if the cpi is harder than expected it could make the difference between a september announcement for tapering or waiting to november i mean the real worry here is that you're not making up the jobs and you have inflation right that's gonna cause the fed to be a little bit nervous of the stimulus they're providing it would be unfortunate for everybody if the fed needs to pull the stimulus they're providing not because the jobs in the economy are back where they want them but because inflationary tendencies are going to force their hand that's something that's in play economists expect cpi to raise 0.4 percent month over month it's a pretty hot number month of a month there's 12 months folks you rise 0.4 percent every month right what are you pushing you're pushing 4.8 percent almost for the year uh august producer price index which was released friday a jump of 8.3 percent year over year due in part to supply chain constraints consumer price index percentage change from a year ago all items in the u.s city average you see where we're talking about july 5.4 percent um yeah they talk about the jobs number in here as well uh but that'll be interesting so the market looking for about a 0.4 percent number that's out tomorrow the market a little bit skittish ahead of that number coming out in a big way we got gold flat right now at 1792 crude holding pretty steady at 70 69 notes and bonds let's see where we're going a little bit of a pullback in yield nothing too crazy for the moves we're getting it's really interesting how you have kind of some real tame action in the 10 year considering the runs that we've had in some of the markets right we get the vix bike and a 21 we got the nasdaq barely posited by seven points now uh you get the 10 year yield ticking down just one basis point to 1.32 percent the yield on the 10 year and we have the 30 year falling slightly as well to kick things off we got the 30 year right now price wise trading up 12 ticks 16303 let's jump over to the vix as we talk about 1994 on that volatility index we reached a high of 21 13 on friday all right let's see where else we want to go what else i had up here yeah robin hood uh so my dad was out here talking last week as well saying there's no way that uh those in charge of wall street will allow payment for order flow to be banned and robin hoods chief legal officer says the same thing the sec is going to arrive at the conclusion that payment for order flow is undoubtedly an amazingly good thing for retail investors and they're not going to ban it said the robin hood chief legal officer um that is dan gallagher told cmbc that if he still worked for the sec he would be investigating the people in institutions that he claims lied surrounding the game stop short squeeze well it's lovely to see the pr teams out there uh there's arguments to be made folks in terms of liquidity and that liquidity serving investors that is the argument you know that level of liquidity is good for retail investors um there's a level of truth to that i believe it gets stretched though and that's the key part right how do you make sure that it's not getting stretched to the point but for payment for order flow um is hurting investors and i it seems like allowing free access to trading and then allowing people to buy and sell those bids and offers and and and split the market and make almost automatic arbitrage profits goes slightly against the interest of a completely free market of bids and asks but that doesn't mean it's that simple and you're going to see that play out in the future though you will um but not surprising that robin hood's chief legal officer is out there saying hey our entire business plan is legal because if that gets banned this company's in big problems down 1.1 percent now paypal was coming out they they already do crypto paypal down about a percent this morning uh they already do crypto and they're gonna potentially do brokerage services as well i mean robin hood when you're just so invested in dogecoin trading i would be very very careful of this equity doesn't mean that they might turn the corner and use this acceleration to grow that company but you're talking about a company night now robin hood valued at 35 billion dollars and they basically make all their money off of crypto trading and in crypto trading they make it all off dogecoin that's quite a valuation 45 billion dollars uh and they're in competitive space you know fintech in terms of online brokerages for for free let alone you have companies like our sponsor TD Ameritrade thinkorswim but they have an outstanding platform you know they're they're super competitive in that same regard very tough in terms of how when you're making all your money off dogecoin um and you're potentially exposed to if the industry ever somewhat even if they limited right payment for order flow they'd be particularly exposed in a big way at robin hood all right market's catching a little bit of a bit now 20 minutes into the trading week i say a little bit of a bit look at that barely a pop on those markets back to the 618 line that we had from the full move higher this morning we got all the markets back in the flat or in the green stay tuned folks i'll be right back to finish up the show sharpening norse skills as an investor is like getting better at playing a musical instrument you have to practice sure but you 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kicked a field goal taking the lead they fumble it with about just over two minutes left end up losing the game by a point nonetheless it was cool to see the sports betting ads right and how prevalent they were mgm had a good ad out there i think with jamie fox a couple other ads out there as well we're all used to the daily fantasy ads of course being out there it's interesting how espn now again espn as far as disney we got disney man in my newsletter i am biased again but interesting how and it makes sense they've just a full adoption of betting in terms of they have fantasy now i think they even have a show on these espn that's literally has the the like betting hour now or gambling now i mean it's completely legal in states like that and they are pushing programming rightfully so to cater to people whether it's you know talking about overunders lines wins losses daily fantasy certain players their their attractive nature or or to dodge players but it's a brave new world and we got a fight in florida going on right now where we did pass a constitutional constitutional amendment that i had thought even said no basically that there could be no more expansion of gambling in the state of florida unless voted on by the citizens of florida which basically meant and the unfortunate part about this is it was bankrolled by the seminal tribe in disney because disney doesn't want more gambling in florida and the seminal tribe loves having a monopoly so they bankroll this whole thing to make sure that it can't happen and it's unfortunate because in certain cities you could have a casino which can do a lot and i understand that you know locals spending money and and and all that in terms of spending retirement um but nonetheless they're trying to push it even though citizens voted that yes they want to be able to vote on gambling they got it done but now sports betting they're coming for it so it'll be interesting to see how it shakes out folks thanks so much for tuning in we're going to have an interesting day in the market stay tuned we got basil Chapman up next live programming all day at tfnn have a great monday everybody building wealth trading