 The following is a presentation of TFNN. The TFNN Bull Bear Trading Hour. Every trading day, live at 10 a.m. Eastern. Call now, toll free at 877-927-6648 or internationally at 727-873-7618. The TFNN Bull Bear Trading Hour. Now, Tommy and Tommy O'Brien. Welcome folks, appreciate you're growling and prowling with us out here. We have the now industries up 56, Nasdaq down 4, S&Ps up 8, Gold contract up at $6.20 trading at $15.31 an ounce. You get Silver up 18 cents, $18.82 an ounce. Light Sweet Crew down 99 cents at $55.29 a barrel. And oil, quite a deal man. Volatility almost everywhere, right? But oil, quite a deal for sure, yeah. Got up to 57 something when those numbers come out yesterday. Bottom line, gave it up folks. Notes and bonds, bottom line, they rejected lower price. They're going to have lighter volume on the daily. They're going to have lighter volume on the weekly. At the end of today, what you're going to see out here is you're going to get a rejection of lower price with lighter volume. Guess what? 10-year up one tick, 131-11, 30-year up 14, 164-10. They both continue to want higher price, lower yield. That's lower yield. King Dollar, King Dollar down 182-6, trading 97-7-60. Now King Dollar has volume today. We'll see whether we can get follow-through next week on the way down. Bottom line is that we've just rolled, we're rolling from the September to December contract out here today. Both contracts actually have volume on the way down. Euro, yours at about 10. The yen is trading at 106.74 and the pound is at 123 to 1 US Dollar. So I heard your update. Jobs data, right? Yeah, we can pull up some of the articles because it is pretty interesting, of course. And that jobs data. So we know the census is bringing in jobs. Yeah, so headline number, right, to go over just for everybody, 130,000 is the number that comes in for August. The expectation had been for about 150,000. You have the unemployment rate at 3.7%. You did get average hourly earnings increasing by 0.4% for the month. That's 3.2% over the year. I think they were looking for about 3%. So even beating expectation. But here's where really things get a little dicey. Excluding government hiring. Private payrolls growing by just 96,000. The lowest pace since February. And then digging into it a little bit more as to where they are. 34,000 jobs for government. Right, and it's going to be a lot of those census jobs. Yes, and those are completely temporary. I believe it was 20 to 25,000 straight out census. Right. So you really shouldn't calculate that if you're looking for the health of the economy. No, because that's not a health of the economy. Exactly. That's just once every 10 years. We get to hire some temporary workers and we pay it out of the government till. And then you get in though, this is a retail actually declining, right? That's where not a good sign as well, for sure. They're going to need less people in retail, man. The more that we keep hitting the button, we're not talking to a salesperson. Sure, you know. Sure. So, yeah, that's the numbers coming in and that's kind of what's driving a lot of the action out there, of course, from 8.30 this morning. So if you're going to take a look at this market, folks, let's go, we'll go to the S&P first. We're going to look at the S&P. So if we look at the, you're going to see here, we, you're more than at the top of the range because you actually broke the range yesterday when we went up. When I say the range, the trading range we had been in, that's 29.44. You're 29.77. We'll see what shakes out here. You know, you get over the highs of yesterday, you're underneath them right now. If we go look at the NQs, now the NQs have been the weakest end to see for the last couple months. Yesterday they had a nice jolt. There's no doubt about that, man. The NQs right now, the top of that range, the range, the range I'm talking about would be 77.89. Yeah. And we got up to, well, today, we got up to 78.95. Yes. Pretty similar chart though to the S&P there. Yeah. You know, you got all those highs. We just climbed above it yesterday and we actually, then again, peaked above yesterday's high and pulled back. And the real kick is going to be where this shakes out as we move through this day. Small caps, small caps, is still the weakest end to see. The bottom line, they didn't get to their top of the range. Yeah, definitely a different looking chart on that one. And you know, that's saying quite a bit. Yeah. Notes and bonds, the bottom line is that what you're going to see here is you're going to see a rejection of lower price. We had lighter volume yesterday than we were going into. You got 1.1 million contracts. It's going to be the same thing. It's going to be lighter volume because we're coming at the 3.4 million or something. Now, what that's going to set up, that's going to set up a rejection on a daily and a weekly. So, yeah, let me just do, well, it's not too early to do a weekly. Let me just see what that's going to look like. Yeah, we actually got to a yield of 1.6. Yeah, I heard that. And we're now sitting with the pullback recoil at about 1.55 for the yield. Doesn't 1.6 sound huge? It does. We were just at 1.44, I think, yesterday morning. When I heard you do the up there, I thought that's like 1.6, man. What's happening out here? Yeah. Gold. Yes, catching quite a bit off of that 8.30 number. And gold is rejected lower price also. It's going to be, it came right back to, well, it didn't make it to the breakout area. The break, the 15.03 would be the number. That's when that was on the 23rd. Okay. Those from 15.03 to 15.40. You get 15.10, you're at 15.33. Can you go IGPO? Yeah. Just to really show that 8.30, because we were down there about 15, yeah, 15.10. So, you know, contracts showing up $7 on the session, but really we're up 22 bucks from 8.30. Right. Yeah. Right. And then good old King dollar. So with King dollar here, we'll see. A slide. What's going on? We're rolling folks from the, you'll see that this December contract up. I rolled it already. It is 95. You're going to see that the U contract still has the most, but that'll be it. This will be the last day of it. Let's see currency. There's 17,000 there, but you can see this contract expires to the 19th. So this thing, they got to get out of this contract right now. Okay. You know, and we'll see if it can, you know, bottom line, make it back inside the lower range. The lower range is that on the U is the 97,715. I see. DXZ on the December contract. Let's see if it's harder to figure this out actually. 97.05. Pretty interesting that it looked like we were maybe going to get a hundred handle on the dollar. Oh, yeah. Just three, four days ago. Yeah. And now we're, we're right in around 98. Basically you got the December. You're looking at it 97. Seven. You got the September was, I think 98.2 or something like that. Yeah. And then let's go over to the Euro, because this is all, you know, between the Euro and the pound folks, that's what's, so the Euro's up slightly. You know, that came, that didn't hold price yesterday. You know, we got higher didn't hold price. That's up 14 ticks. Yeah. As Great Britain really gives it to their prime minister. Oh my God. And the market likes it in terms of maybe decreasing the chances of a hard Brexit over there. Right. Which is weird. You know what's amazing is that, thinking that Johnson miscalculated so dramatically. You know what I mean? I guess he thought Jeremy Corbyn would go for the election because he's wanted an election for four years. So I can understand it. But I heard him like three days ago and he said, I'm not going to get, he made it like a deal about something, you know, someone giving you something, but if you took it, you're going to get slammed. Sure. And, you know, the bottom line would have to be, you know, the bottom line would have to be, you know, the bottom line. What happens to Britain folks is that the opposite party has to go along with the election. And, if they thought they were strong enough to win, they would go along with it. And in his case, I think Corbyn's case, it was more important to push it forward. And he probably, I don't know if he thought he could win or not, but the bottom line, he didn't go along with the election. Yeah. It seems like they're doing all right over there, Corbyn. As in why go along with it at this stage. Oh yeah. If Johnson continues to vote after vote, he lost his brother. Right. His brother, his prime minister, his brother, his brother has resigned. His brother had voted against Brexit originally to give that some context. So, 877-927-6648 Dow, Dow up 46, Nasdaq down 8, S&P's up 7, come right back. If you're not currently using the TAS Profile Scanner when looking at setting up your trading opportunities, then your arsenal is short a mighty weapon. The TAS Profile Scanner is a standalone piece of software that instantly filters over 2,500 global financial markets such as stocks, ETFs, commodity futures and forex. Heated by Steve Dahl, TAS understands that in today's technological world, the use of top flight software applications and technical analysis expertise is essential to successful trading in today's market. You also gain access to the webinar that Steve Dahl and Tom O'Brien just hosted the best way to use the TAS Profile Scanner to profit. This webinar archive is available for all subscribers immediately upon signing up. All new subscriptions also come with a 30-day money-back guarantee so you have nothing to risk. 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It just may be Look at that Wow Okay And I think I had heard that they'd beat expectations for 10 straight quarters something like that It would make sense when you look at this chart from 2017 There's no doubt So you get a market cap out here of 26 billion they took in we'll go through these numbers I'm just curious Yeah me too We're all curious So look at that that's some growth They're almost So 1.5 billion folks in 2015 2020 3.9 Yeah 1.8 in 2015 Right to 3.9 Look at that That's sick Yeah and they're approaching I mean fourth quarter of this year they're looking to take in 1.3 billion and now that's probably a big quarter Christmas and whatnot but still Okay so let's see Comp sales 17% Yeah I wonder what on a constant currency basis implies in that above the 12% estimate regardless And this is the 7th quarter that's been above 10% a rare achievement in retail I would say so man because think about that you know Comp sales you grow we all know about compounding right You got to compound something in double digit returns for seven straight quarters I know That's mammoth, mammoth numbers like we just saw in their revenue where they are almost doubling their revenue over a couple of years another sign that the $98 yoga pants and $68 men's tank tops where you're down here okay yeah there you go demand and this is where it's remarkable too it's not just that they're growing they keep beating estimates right and the estimates are for a huge growth already and they keep beating huge growth 10th consecutive profit beat for another sign that the demand for those $98 yoga pants and $68 men's tank tops I don't own any $68 tank tops I don't envision I'll be owning a $68 tank top anytime soon but I'm a fan of the athleisure and you know the trend is in general we've talked about with Kevin Hinks right everywhere in finance the trend is the same people don't wear suits and ties everywhere you know what do we just see Goldman came off right you don't have to wear your suit and tie a lot of companies business casual maybe some slacks maybe a button right the tie the tie is real business exactly right and the jacket look at the online sales folks online sales climbed 31% yeah big number on a constant currency basis those sales represented bigger piece the total revenue than they did a year earlier yes that's quite a move man wow 55% stocks up this year through Thursday's close and that's pretty intense we'll take a look at some of the high of oil actually let's go look at oil I want to look at the oil because oil we were on the air right coming off the 11 yesterday they had you know the numbers it was a draw about 4.9 million I think the estimate was looking for a draw of like 2.3 maybe so a lot less oil in the till than they thought you did see a spike initially which is what it was a quick retracement though man you're down 275 from that from that high of yesterday and look at look at the move I mean we went over this right so you're sitting it here let's just can we go because I mean the move up and down over the last three days is staggering man we go back to Tuesday we come back we're sitting at under 53 we trade to almost 58 so we're in a 52 handle it's remarkable and then just like that we shave almost $3 off the price as well we want to talk about some defined risk get it in those oil contracts man so picture something folks this is pretty cool one point so for $4,000 you can get a contract right that may have to be updated go ahead as you explain it go ahead because what happens here is that that was just a $4,700 move to the upside we went from 52 and change up to 57 every point folks $1,000 every dollar in the price accrued is $1,000 right and then we get a couple more days of that we were just at 57,76 less than 24 hours ago because the numbers came out at 11 we traded higher after 11 a.m. yesterday you probably hit 57,76 at about noon let's call it yesterday and by 10 a.m. you're down $2,700 and you only have $4,000 you have a buck 25 left before your entire 100% of your investment is gone right no doubt let's go take a look at the XLE so the XLE has been weak nothing heavy today down 19 cents when you look at the XLE any sector that you're looking at folks since the S&P's that are they all get over their range you know you should be looking at like okay you get a stronger weaker sector 994 I believe the XLF is going to be the same setup because those were the two weakest indices no XLF got over it XLF I'd say 2731 so the range of references basically like the entirety of August for all those you know we traded down hard right into August and then we had the oscillation in there in the indices and yet we're brought this up yesterday BYND now this doesn't this story is not relating to what the story was yesterday but I bet people read this story is that man Beyond Meat is down eight box right now and what the story was folks is that Kroger which is the largest grocery store in the United States they're going to have their own brand right and they're going into they're going into deli meats and everything yeah and not that like you should expect it but there you go well that's seeking out here we go wall street churnel they're going to Bloomberg maybe they're sucking up one's a good one it has a lot in it okay I think that's the one I sometimes it just takes okay that's what I thought was going to happen okay I think I say we shop at Publix okay that green wise brand which is more like organic chicken I love it but it's their brand every big supermarket has their own brand of everything if you don't think they're going to be coming down the line with plant based let alone Tyson okay they don't even have it out it's one of the biggest retailers to introduce a store branded line of meatless products part of its effort to reinvigorate sales as it faces tough competition from online service discount grocers Kroger so Kroger which sells beyond meats meat replacements patties and sausages will put its own plant based deli slices sausages and other products at the 1800 of its 2800 stores this fall and I imagine that if so Kroger's patties are P based designed to resemble beef big number men you know yeah and that's you know that's why some of that valuation beyond meat man because Tyson's going to have the same thing meanwhile Tyson's got you know a multi-billion dollar supply chain already in place right so tell me why beyond meats that's special exactly there folks Tommy and I come right back to the market insights that now is a great time to sign up for a 30 day free trial every morning by 9 30 I send out my morning letter to subscribers with market commentary on a variety of markets currencies and commodities to keep investors up to date on the day's trading action included in market insights are specific buy and sell recommendations for stocks ETFs and even options which stops and price targets included for every trade in my newsletter I use my years of trading 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this new charting software that will even give you a 30 day unconditional money back guarantee don't miss out on this 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 down down is up 62 now is up three S&Ps are up 10 and a half and at the break I had to go over folks we had to go over to Lululemon to see what these $68 tank tops cost so here check this out we're going to give them a free and add but man oh man I'm not going to be buying they look like regular tank tops from all I can tell except they got a $68 price tag on them and watch this what we did is that Tommy turned around and brought Nike up because it's they're 50% more than Nike and Nike is expensive it's more money almost 75% when you go from 40 to 68 it's staggering here's a Nike and Nike premium brand expensive and then you go over for instance you always say okay what are because women such a huge portion of theirs right I mean we started off with women leggings especially $118 $128 $120 to $130 and on the men's side you pull up joggers which are basically leggings same deal $118 you're paying almost $120 for pants and that was for men's that was tank tops let's see what they're pushing for t-shirts $78 $78 for a t-shirt $80 they're at $10 $88 pretty remarkable man but they just keep I didn't know that they actually sell the regular colors colors yeah I guess I didn't either we're all finding out more oh man that's quite a price tag you can see why they're bringing dolls to the bottom line I guess at some point isn't there some elasticity because if you can sell $100 shirts you can add to the bottom line if people buy it but I haven't bought a $100 shirt let alone a t-shirt a color shirt man oh man some of the higher volume equities out here today you can advance microdown 60 cents docusigned we'll see what's going on there docusigns up $8.95 20% big number man Mr. Button think he gets the question why by getting the bad you know, and it's straight out that they didn't follow the law. I mean, they already had a consent decree that they weren't going to do this kind of stuff. They knew about the stuff. The internal emails are coming out. It's a straight conscious decision to basically break the law. So I hope they do because yeah, no, there's no doubt the way they violated that trust. I mean, we all know that we give our dad over to companies when they charge nothing. I mean, that's the deal you're making. So be aware, right? You're using a product using a service and it's a shame because you see all these social media shares where people say like, oh, this company doesn't have a right to use my data. No, that's, you know, you're off in Candyland. They never read the terms. They hit the terms. The terms. It's like what you don't get to tell the company that I'm going to be on Facebook and then I get to tell you what you do with my post or something. It's it's alternative universe that they're living in. Of course they own what you post. You're posting it on their site. They're a company. That's how things work. But that doesn't mean they can't lie to you and break their own terms and break consent degrees. That's where it really gets pretty pretty over the top. So docusign they were looking for a $221 million. They came in with $252. It's a big number man. I'd say that 15 15% on revenue, man. That's nice. Yeah, they got an extra $30 million in revenue and they were only supposed to have 220. That's a and where do they go from that hit their profits at all? Yeah, it doesn't have to go. I'll get a different one. Let's say that's interesting to say this is a Justin misses that. Okay, so. Adjusted earnings per share one cent versus three. So whatever that is, and it was it was that year on year. The estimate was even higher. They were looking for four. Yeah, which is remarkable though, because like you're saying that's the second quarter. Um. Let's see. So adjusted earnings per share, but they actually had second quarter loss per share of $0.39. But regardless, maybe that revenue number and as it is revenue usually the only thing that matters because you keep growing your revenue. You can always get your expenses in line and year over year. It's up 47%. That's a big number, right? Yeah, it's a huge number. Yeah, there's no doubt about that. And this has been a highly volatile stock. You know, if you look at this, uh, boy, boy, yeah, you'll see. Let me just I'll just bring this back a year. Yeah, well, you know, you're up at what's that $59 close to the highs again, and you get all the way down to 43. I guess that's not that. Can you go back even further? I mean, the highs of the last year we have there. I wonder where they Yeah, so that's as far back as they go. So that's three years. I think that might be that they only went public back then because go ahead. Yeah, that's all. So and they went public. So let's see. They went public at, oh, let's see April. Yeah, so they went public at 29. Look at this. This is a cool one, folks that look at, too. And this is we know. Depending on how long you've been in the markets, you really want to pay attention to this because they these companies love doing this. And listen, if we own the company, we do it, too. You know, there's no doubt they raise all this money at 29. You want to raise as much money you can at the highs and they almost let's just call it like May 1st made some April 26th. They raised it almost in May 1st. They come out $29. Well, geez, by September 1st, the stocks of 55 said would be fools not to raise some money again. Right? If you're going to sell off equity in the company at almost the start of May at 29 bucks a share, then you're probably confident enough to say if you can use that equity, too, you know, if you can use the capital, which I guess they believe they can't see beyond what it beyond did the same thing, right? Didn't they? I mean, then that wouldn't even let's take a look even much more. Yeah, and I don't know if they're going to have it only because maybe they haven't come out with it yet. Well, no, there it is. Look at that. That is intense. That sure is, man. If you liked it at 25, you're going to love it at 160. So check this out, folks. They sold, it went public at $25, and it never traded at 25, by the way. It traded at 45. Okay. That was how it opened and never, you know, never looked back. Is that, yeah, that is actually... That is three months. Within three months. Three months later, they sold 3.7 million shares at $160. Yeah. Oh, man, that is so cool. That is sick. Yeah. And I mean, you just have to do it. So, you know, at 25 bucks, they're raising about 275 million right here. Yeah. And at 160 bucks for every million shares. So I just said, that's 275. They raised on the full because they push out 11. Yep. And then I got to do the quick math, but for every million shares, they push out at 160. It's 160 million. So you got 320. You got 480. Man, you're... Yeah, exactly. They raised a lot more money almost three times as much capital by pushing out like a third of the shares. Yeah. That is pretty amazing. Yeah. That really is... Wow. Yes. That is... Now, hey... And not often do you get to... We were talking about SoftBank yesterday. Look at this. Yeah. This is going to be... No more IPO? No. They might not. That's what I hear coming. Oh, really? Yeah. So what's happening... We're talking about WeWork, right? Yeah. Is that the... SoftBank will probably be underneath it. Maybe just go here. There we go. Right here? Right? Yeah. That's it. That's what we want to look at. Stay right there, folks. We'll come right back. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. We've got our tax-free zones across the country where you can build and hold for 10 years and pay no tax on the profits, which makes these lots more valuable. The investment is anywhere from 30,000 to 75,000. The interest paid is 7% yearly paid on a monthly basis. According to bankrate.com, the best rate for a four-year CD in the country as the February 20th is 3.1%. A $50,000 investment at a normal four year CD rate of 3.1% would give you income of $1550 per year, or $6200 over the four-year period. That same $50,000 investment program would you give you 3500 per year or 14,000 over the four years? What should you prefer? 6200 or 14,000 of interest on your investment? If you'd like more information about the target first mortgage program, you can call me at 877-518-9190. That's 877-518-9190. If you haven't checked out the newsletters page of TFNN.com, what are you waiting for? 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An investor should consider the investment objectives, risks, charges, and expenses of the direction chairs carefully before investing. The prospectus and summary prospectus contain this and other information about direction chairs. To obtain a prospectus or summary prospectus, please contact direction chairs 866-476-7523. The prospectus or summary prospectus should be read carefully before investing. An investment in the funds is subject to risk, including the possible loss of principal. The funds are designed to be utilized only by sophisticated investors such as traders and active investors. So, we work in SoftBank. They get quite a deal going here. And I said, we'll go a little slowly through here because there's so many moving parts in this thing man and it demonstrates just a lot going on right now. I mean one of the biggest venture capitalists out there writes SoftBank. They're coming in and trying to raise a second fund right now. So, we've been talking about it. You have WeWork contemplating their IPO and its biggest backer, Japan SoftBank, is bracing for a potentially staggering loss, a stark reminder of the risks of investing strategy. So, SoftBank has 29% stake in WeWork. The company has plowed $10.65 billion into the startup and WeWork lost $1.6 billion last year. So, perhaps more than any other startup, they're just saying this embodies kind of what SoftBank is doing, just making huge bets in companies that aren't even close to profitable yet. And they have their vision fund, but at the same time, they're starting their second vision fund. Now, the last round of funding, this is where it starts to get really interesting, SoftBank's BigBet may already be turning sour as WeWork mul's an IPO that would peg it would peg its worth at less than half its $47 billion valuation when SoftBank invested just earlier this year. Talk about missing the mark, man. How does a company, just a pause for a second, like SoftBank, that has their tentacles and everything, not realize they can't go out to these potential institutional investors and say, listen, we're investing here. If we come to you guys in September, where are you going to peg us, right? Talk about missing the mark. So the New York company is now said to be considering a market debut of just 20 to 30. And I think it's going to be more towards this 20 number. The more we keep hearing about it. And they say, you know, it's a tough time because SoftBank, they're just trying to start this second $108 billion vision fund. And they have Uber in there, which has taken a hit, right, in terms of, and so this is where you were talking about, you read this earlier. This is where it gets interesting, though, because everybody in the whole SoftBank operation is tied to how these companies do. And it's not on a deal to deal basis. So SoftBank staffers at the vision, some staffers at the vision fund are now concerned that the WeWorks evaluation could fall further even to below 20 billion. That's the original investment made by this vision fund. Pretty amazing, man. The valuation of their original investment. According to people familiar with the company who asked not to be identified, yeah, I wouldn't want to be identified either if I worked for that company. And I was talking about that. So because the vision fund is so exposed to WeWork, it will pay a substantial play, a substantial role in compensation for employees of the fund. People at the vision fund are not paid on a deal by deal basis, as with some other venture firms. Vision fund employees, including high profile bankers and investors, receive base salaries and bonuses, but only get payouts when profits are booked. They're also on the hook. And this is the key for potential losses facing clawbacks of 20% and above for some senior staff and 7% for more. I mean, that's going to be a mammoth loss that they have to make up before they ever get a bonus of any type of decree at all. And they get the clawback. Yes, right. And there's also a possibility that WeWork could delay the IPO. And this is where I write. So you have the CEO pledged to SoftBank CEO that they'll have evaluation of no lower than $47 billion when it goes public. Now, I kind of said sarcastically, doesn't every CEO that goes to a venture capitalist say whatever valuation you give us, we're not going to go public at below that level. I mean, that's, if it's not, I don't, I mean, it's not like a legal document he's saying, right? He's not guaranteeing it with his equity. Of course you're saying that. They wouldn't invest in you. They wouldn't invest you if you said there's a chance we might go public at less of a valuation. And if you're going to go public, you better make sure that you're growing exponentially, folks. And it's an easier sell to the public, usually than it is to venture capitalists. So if you can sell it to a venture capitalist, with, like I said, their tentacles and everything, then you should probably, as we've seen, be able to sell it to the public like they did with Uber, like they've done with Lyft, right? So the thing that's interesting to Tom is that what you had folks, you know, I haven't, I don't know whether they've been in the documents the last three or four years, but what you'd normally had after the crash of 2000, right, is that if you were the investor. Tom Softbank. Yeah, you're Softbank. You're coming to me for an evaluation. What you would be saying to me is that, okay, listen, I'll give you that valuation. I'll pay you at $47 billion. That's right. But if that IPO comes out less than that, you're going to have to come up with more stock to make me whole. You're going to have to do something. Yeah. I bet it could be a lot of things, right? More stock, straight out that you get, you get a basically what you're going to do is that you're going to dilute yourself. Sure. Okay. And you're going to make me whole for that. And there's nothing in this article that says that, which is bottom line is that, well, things have loosened up. I mean, we were spending a darling of like the, you know, unicorn private company. I think one of their biggest problems was that the bad publicity, you know, with the aspect of the CEOs and the executive staff buying the buildings and leasing them, that bad press. And I listen, we want to thank all the Tigers and the Tigers. We got some good feedback. We got some great, because we, and it's so, and what the feedback wasn't, it's real, folks. The feedback would be that if you're leasing the property versus buying it, because, you know, you can make more in your balance sheet, because there's no depreciation that has to go on your balance sheet. The problem with owning the real estate is that the depreciation has to go on the balance sheet. So you can be on losses on a continual basis, even though you're not in a loss. Sure. That's where cash flow versus losses. Exactly. Versus, you know, because it's not, it's not a cash loss. And one of the other, you know, just feedbacks we got, which is we were kind of talking about it yesterday is, you know, so you have the CEO buying buildings. Right. He's leasing it to WeWork. He has a guaranteed leaser in there, right? And he's paying that off as it's coming down the line. So he's going to own the building almost outright, right? No matter what happens with WeWork. Now, in a private company, not really a big deal. But when you're taking investor money and then, you know, talk about a conflict of interest, talk about, you know, bad things can happen in that scenario. As in, are you really, do you really have the investor's best interest in mind that you're taking their money as you're saying this? Well, guess what? That kind of stuff can happen. And then the last part of the article that we saw in there is that they might pause the IPO, right? They might go back to Softbank for more money as a way to not have to go to the IPO because they're going to need money, though. That was part of the reason to go to IPO. So if they don't IPO, they're going to have to raise money. And who better to go back to than the people that just pegged you at $47 billion, I guess, and give them, they're going to get a different valuation for sure. Right. 16. Yeah, exactly. And I suspect the way this is going, I suspect that's kind of the way that's probably going to shake out, you know, because there's gotta be, you know, that's, that can make Softbank in a much better position than you go public two years from now or something. Do you know what I mean? Because, yeah, I agreed. Exactly. So let's go take a look at the E-mini. Yeah, excuse me, folks. So you got a little bounce going on here. You got, whoops. Yeah. So we, we get down to a $29.70. You're up 14 points from that. There's no, there's no, we get nice volatility in this market, man. Yeah. Let's, let's, so the, the VIX right now, that's laying out a $15.52. Not bad. That's quite a move, huh? No, man. This week going from $21.50 to $15.52. Now, it's interesting here, it's just like $15.51 is the last low, right? I mean, it matches up, right? This, this chart's almost an inverse of the indices, right? It is. We had all this volatility. You have the indices back above that level. You get the VIX below. I mean, that's, you can see the line in it's basically August, which was quite a month. Totally. Stay right there, folks. Tommy and I come right back. I'm certain you are or strive to be one of the best of the best at everything you do in life. 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Get your 2-week free trial to Basil's newsletter, the opening call today by visiting TFNN.com. Welcome back, folks. Now, that was up 79, now it's up 16, SMPs are up 11. We got a market that bottom line, you know, going sideways, you're higher. You know, the high of yesterday, so the high of yesterday, folks, we have almost close to the highs. Yeah. And the spy's 298, 83, you know, right next to it. Yeah, 33 pennies in the spy. Yeah. We'll take a look at the, well, actually, let's go look at what's the strength versus the weakness. The chips, yes, they took the NDX high big time. Lululemon, half leisure. Yeah, up 7.8%. You got alexian pharmaceutical up 3.3. Costco's up 2. Okay. Autodesk is up 2. Taking away from it AMD down 2. Netflix off 1.6. That's a big number for Netflix. Yeah. What's going on there, right? Maybe everybody... It's close to those lows again. I heard me yesterday talking about that they're going to start releasing shows one week at a time. We don't like that. Yeah. Tell them none of that. Because even our man, Dave Whiteness, and they're asking a great question, right? Well, you know, why can't you wait, right? You wait for them all to get released and then you watch it. Right. But you always want to be on the top of what everyone's talking about in culture, right? So that's why when they release a show, everyone's talking about it, right? When Game of Thrones is rocking and rolling, everyone's talking about it. And that's how more people listen to it too. It's just, you know, it's people talking about it at work, right? They're talking about everything. You don't want to be the person that says, ah, I'm not watching it for two years because I'm waiting every episode to come out and then I'm going to binge watch it. Yeah. So you're going to see it. It'd be interesting to see where it goes, man. Competition though. That's the bottom line. They're facing competition when they start thinking about changing their entire business model. Oh, yeah. Yeah. Let's look at the transports. Haven't looked at the transports for a while. So transports, they broke out too. They not broke out, but they got over their range. So transports, yes, they got over the 10,000 free debt, 39. That could look like an SBY chart right there as you pull it off, right? Exactly. Yeah. Pretty wild. Yeah. Listen, folks, stay right there. We got TD Ameritrade coming up next. Then we get our man, Mr. Basil Chapman, Steve Rhodes, Dave White. I'll be back this afternoon. Thanks, pal. Thanks, man. Yeah, we'll get them, folks.