 The following is a presentation of TFNN the morning market kickoff With your host Tommy O'Brien Good Tuesday morning everybody. I'm Tommy O'Brien comedy alive from TFNN 906 a.m. On Tuesday We got about 24 minutes to go until the start of trading we got markets in positive territory to kick things off You talk about a day yesterday man the volatility in these markets folks You almost cannot overstate the volatility going on you jump over to the Vicks 36 64 before the markets roared back yesterday We finished the day at about 32 on the Vicks we're trading right now 31 68 jumping back to the SMPs I mean this chart we're looking at the move yesterday does not look even as Ridiculous as it was you kick things off folks. You're talking about 100 points to the downside and then back to the upside This is a 15 minute chart that is intraday. You did a hundred points in both directions That's almost two and a half percent in both directions. You trade it from 41 65 Down to 40 56. Okay, so that is about 109 points to the downside from 10 30 in the morning until 2 30 in the afternoon and then in the final hour and a half of the trading day you traded up folks Exactly 100 points almost to the tick 4056 is the low and we come into 41 56 point 25 We made it 100 points and a quarter to the upside after trading down 109 points you're currently trading almost right where you were as we kicked off the acceleration to lower prices Again, you cannot overstate the moves Nasdaq 100. We actually accelerated above where we were early in the day 13,000 down to 12,700 we're back to 13,100 this morning. You have the Dow trading at 33,000 We were at 32,358. You're talking about 650 points down and up in the Dow Bitcoin 38,395 you got a theory and right now trading at 28 36. We jumped to commodities gold quite a day to the downside Yesterday, we make a low overnight at 1849 you have gold flat on the session technically at 1864 We're about 15 bucks off the lows from this morning though. You jump to crude Little volatility yesterday and crude as well. We're sitting at almost 104 103 86 and the price of crude and we jumped to Excuse me the all-important notes and bonds. We got the tenure slight reprieve right now. We touched Two points not to we touched 3% yesterday folks. I was talking about it on my program It was quite an acceleration zooming in on the action yesterday, right program began at 9 a.m. There's your 9 a.m. Bar. We're at 118 22 by the end of the day. You were at 1806 you make it to 1804 and change overnight and since then slight reprieve we get the 10 year yield right now sitting at 2.93% 2.93% so we hit 3% you back off a bit still right near that 3% number The Fed comes out with their announcement tomorrow 2 p.m. Eastern time press conference to follow at 2 30 All but assured you'll get a 50 basis point hike We'll see what the chairman has to say following it in the press conference Remarkable times who are living in folks. That is what we'll say to say the least All right, let's jump around to what we got going on this morning And we're gonna start with a little bit of bearish headlines folks. Okay, and we're gonna kick things off with Big stock bears say S&P 500 bottom still another 700 points away Morgan Stanley's Wilson sees the S&P falling to as low as 3460 now I found this interesting. Okay, the group watching for a slide toward the 3,500 to 3,700 mark. Okay, so After extending its 2022 decline to 13% S&P's in danger of an even deeper dive in the months ahead according to technical and macro research team at Strategist strickey strategic us strategic us strategic research partners the group led by Chris Chris Varone is watching 3,500 to 3,700 that Encompasses the gauge 200 week moving average in the midpoint of its entire rally. This is the important part Okay, that is that that is what I'm looking at. It's the midpoint. It's the 50% folks from the entire rally From the 2020 pandemic bottom a drop to 3,500 would represent an additional 16% loss from Monday's close folks If you don't think the market can pull back 16% in the future considering what we're coming up against right now Okay, the Fed is gonna begin hiking Now they've already begun you could say but they're really gonna start bringing it tomorrow and they're gonna bring it for some time man We got inflation out of control one of the articles. I'm gonna be talking about is housing again through the roof for housing The risk is there whether it plays out, okay, nobody can be sure But as our man Larry Pezzavento says don't think about how much you can make think about how much you can lose Because it's interesting in that terms of the headline here from Paul Tudor Jones, okay This is out this morning as well. Maybe he was on CNBC not sure just jumping around to the headlines Can't think of a worse financial environment for stocks or bonds right now I mean the tough part right is that what are you gonna do sell stocks and go into bonds? Maybe you got inflation out of control Okay, so what's that gonna do that's gonna push the price of those bonds down as yields are rising you have the Fed pulling back monumental amount of Fixed income asset buying that is gonna put less of a bid on them It's gonna allow the price to go down. It's gonna allow the yield to go up That is the whole purpose of what they're doing. That's a tough time to be in bonds potentially Okay, and one of the things he said folks was capital preservation, which is why I wanted to bring this up, okay? Some of the quotes in here. I think we're in one of those very difficult periods We're simply capital preservation is I think the most important thing we can strive for I don't know if it's gonna be one of those periods. We're actually trying to make money. My dad's been talking about it What's what's the reason to buy? What's the reason to buy out there as you're coming into? Let alone the Fed, okay We got Apple and Amazon saying the next quarter is gonna be tough And that's like just the beginning of potentially where things go right Apple saying we're just starting to see the harsh effect of The China shutdown supply chain constraints four to eight billion dollars Amazon loses money in North America operations They lose money period for the last quarter. They said they're probably gonna lose money this quarter again Now I've been Amazon bull for the long run folks This is a time when you get a pullback like that and keeping in mind right Amazon's pullback going on a little bit of a long-term Amazon bull tangent Part of the reason for Amazon's bull pullback is that they're building out too quickly Right, they built out too quickly and demand started to wane That demand will pick back up folks. They're even saying it will pick back up Okay, I found most remarkable that they had hired almost 800,000 workers over the last two years almost doubling their workforce think about that think about the workforce that Amazon had as we came into the pandemic Monumental right think about the warehouse staff, etc. They doubled it They doubled the staff they had in two years let alone building out the warehouses, right? They picked up a bunch of airplanes during the pandemic at Basement prices when nobody was flying anywhere that will pay dividends in the future But the market is not willing to look a year or two into the future if you tell them the next six to nine months Might be a little harsh especially in this environment Just keep these words in mind. We're gonna go over some of the charts We're gonna take a break in a few in a minute But many on Wall Street have gone more concerned that the central bank could tick the tip the economy some points I agree with I just want to talk about here still in the middle of a pandemic into a recession aggressive tightening They've got inflation on the one hand slowing growth on the other They're gonna be clashing all the time and yeah, they are gonna be clashing all the time And what else you have you have war going on right you have supply chain issues going on that are going to persist in China at least for The foreseeable future you jump back to the S&P folks. All right, there's your action this morning We're up by five points. You take a look at a longer-term chart Here's the pandemic low 21 74 the 382 is well within play folks of 3,800 and there's your mark Okay, there's your mark for the 3,500 price point 50% where we are compensation when we get back folks Everything in the universe is governed by the Fibonacci sequence This mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market To stay on top of stock patterns You can take advantage of sign up for the Fibonacci 24-7 newsletter at tfnn.com When you subscribe you'll get a weekly report from veteran day trader Larry Pezzavento 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 What's separating you from the most successful men and women on Wall Street? 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They break down the day's market action and boy We got quite a week man. We got a Fed meeting tomorrow. We got non-farm payrolls on Friday We got earnings coming out each and every day Kevin Hanks. Good morning Good morning, Tommy O'Brien. Yep the first day of a Fed of a two-day Fed meeting welcome to paralysis and analysis And so all we're gonna do is sit around for the next day till tomorrow about two o'clock Eastern and Analyze what we think is gonna happen Tommy and so here's the staff that I think your viewers need to know the last Fed meeting was March 15th and 16th and On March 14th the S&P closed at 41 71 and within two weeks The 29th of March we had gone up to 46 21 remember. That's when Jerome Powell raised interest rates He talked about being hawkish and fighting inflation and we still had a pretty significant But 450 point rally in the S&P since then it's failed as you would think as the rhetoric has teamed up but Don't discount the opportunity for a relief rally coming out of this because if you look at the 10-day charter So when Jerome Powell mentioned he was gonna raise rates by 50 basis points the market has sold off dramatically So what happens then tomorrow? We'll see what how Jerome Powell? Focuses his attention going forward, but till then Tommy it's kind of instant today and for the next four days We'll get a bunch of employment data each day jolt today ADP Wednesday Jobless claims Thursday non-comparels Friday, so we'll get a big dose of employment and some earnings But Tommy the next 36 hours are all about Jerome Powell Yeah, I got the chart up in the thinker swim platform and just the S&P futures and yeah quite a run man March 14th March 15th. We're making a low right down at about where we are right now charge higher above 4600 up to March 29th and then as we know things change we're right back to where we were man at their last meeting Which is pretty remarkable So we look for like you said tomorrow's meeting now Kevin. What do you think because? We have a calm market right now for sure man We're looking at an S&P within a few ticks of where we closed technically yesterday the Russell's flat the Nasdaq is within 29 points S&P is yesterday Kevin 109 points down and 100 points up all Intra-day, what do you think about the volatility just in general man? When you're getting two and a half percent moves almost intraday on the S&P let alone the volatility that the Nasdaq is used to Two and a half percent man. Poof. Wait. What's the general take when you look at a market that is that uncertain? Almost to where prices be where two and a half percent every few hours the whole S&P 500 can trade What would you take on just the volatility in general and yesterday at the throat? Look at the Vic Tommy sitting at or near or slightly above 32. It got it's high yesterday I believe it's 35 Yeah, 36 64 35 before it backed off. So listen Tommy There's a lot of speculation right about what Jerome Paul's gonna say the overall Hit, you know stock market with raising interest rates There's a lot of unknown and uncertainty makes implied volatility go higher So do I know which way the market's gonna go? No, I don't but I do expect it to be movement It to be choppy the fix is telling you that so there's information in option order flows So, you know, I think it's interesting that the that the 10-year yield is back it off pretty significantly this morning But I expect volatility to stay high for the near term now if we rally off this point tomorrow This will come down But it's still gonna stay elevated right the all-time average is about 15.39 once it went to the S&P 500 away from the old OEX I think elevated implied volatility are here to stay Tommy Yeah, it's really remarkable when you think about how many months you got to go forward Kevin If not years that we're gonna have some pretty persistent volatility and uncertainty causing that volatility man You know, even if all goes well in terms of the Fed raising rates Soft landing bringing inflation down. There's gonna be many many months going forward man I know you know this the listeners do as well But it's just interesting to think about many many months if not years that we're gonna be like coming up on these important economic numbers and saying Okay, is the trend working is the Fed gonna be impacted is inflation back to 3% is it back to two and a half We live in interesting times is the expression man. It's said many times. I think it applies to where we are right now With that in mind Kevin, what are you guys gonna be talking about coming up today on fast market at 12? Three good names today Tommy with earnings coming out In the first segment we'll go with advanced micro devices AMD And then in our second segment like folio will do presentation on Starbucks and we'll trade Starbucks And then we'll finish up with lift that has earnings as well. So three good earnings names coming up That that will cover all today on fast market And you got some real pullbacks and all of those man these chips AMD up to 164 back to 90 Starbucks man strong strong company about 126 back to 75 remarkable some of the pullbacks we've had in this market going on S&P only back about 23% Kevin is where they are for the full COVID run using a little Fibonacci there But some of these equities just such harsh pullbacks the Nasdaq right at the 3a to Uncertainty to say the least well Kevin. We appreciate the time. We appreciate the update as always man We'll be watching fast market at 12 for those equities And I'm sure you might have a little discussion about this market in general as well Kevin We appreciate it man. We'll talk to you tomorrow and we'll be watching at 12 today We'll see you then Tommy have a great day you too folks tune in every trading day 12 noon eastern time fast market Kevin Hanks Tom White they do an outstanding job of breaking down the nays market action They'll walk you through the general market. What's going on? They walk you through the hypothetical trade setups yesterday They were talking about Airbnb a great discussion going on yesterday Airbnb trading right now They got their earnings after the bell tonight Just a great discussion overall folks in an outstanding time to check it out when we have volatility in spades as my dad would say All right, let's jump back to see what we have going on We'll jump around to some of the fang stocks speaking of Amazon Amazon Yesterday think it was 3% down and 3% up for Amazon. You're down to 23 67 on the open You charge higher and almost make it to 2,500 by the end of the trading day. You finish a 2490 man can't overstate this volatility and I tell you folks this volatility is Really the most worrisome thing to me in terms of the risk to the downside, okay When markets can roll over My opinion and this is an opinion is that they don't roll over instantly Okay, because you can't just go straight down or everybody figures it out And they sell the much easier way to go down is to give people hope over and over and over and take that hope away So that they're fearful of selling and missing the next pop upward If you realize that we have a market folks That within yesterday's trading day alone Could not accurately price the S&P within 2% of its determined value That is not something that normally takes place. That is an absurd amount of uncertainty And you at least should be recognizing the potential that that uncertainty Could play out to the downside. Okay, we're sitting at almost 41 50 in the S&P's folks The low during COVID was 21 and change. We came into COVID at about 3,200 We're almost a thousand points above where we were at just two years ago. We'll finish this conversation up We'll be back for the open S&P's flat coming into the open and bells If you want to take advantage of this sector now is the time to subscribe to my gold report The gold report is a comprehensive look at the metal sector as well as the markets that move gold Which is the currency and bond markets new subscribers get a 30-day money back guarantee So you have nothing to lose every Monday morning I published a gold report with covered of gold silver bonds the XAU HUI GDX as well as more than 30 different mining equities To see for yourself the types of profitable trades that are recommended within the gold report sign up now by visiting TFNN.com don't miss out on the next great gold trade sign up today 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 Tigris's for just one dollar for the year There's no catch or added costs when you join our community of traders in the Tigers Den you can look over the shoulders of Tom O'Brien and the other TFNN hosts while they Analyze charts during their live Tiger TV programs and join an interactive trading community with hundreds of members exchanging ideas interact with other Tigers and Tigris's as they share trading ideas news analysis and discuss the market action all Trading day even at night and on the weekends the Tigers Den at discord is accessible on mobile or tablets as well So it's always at your reach to sign up today and become a part of this educational community of traders Just visit the front page of TFNN.com TFNN is excited about our new software charting program the art of timing the trade charts in Collaboration with Tom O'Brien and using his best-selling book the art of timing the trade your ultimate trading mastery system David White has programmed an outstanding piece of software that will complement any traders methodology Using this first-of-its-kind program the art of timing the trade charts allows you to scan thousands of stocks for Fibonacci Formation setups including guardleaf ABCs butterflies and much more the art of timing the trade charts is designed to help you when Scouring the markets for stocks just beginning to form the trading patterns that many investors spend days weeks or even months Searching to find and right now. We're offering licenses available at only $79 a month we are so confident that you're gonna love this new charting software that will even give you a 30-day Uneditional money-back guarantee don't miss out on this incredible new piece of software get your copy of the art of timing the trade charts today By visiting TFNN.com 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. We got markets open and we got a flat market We'll see if we get that Paralysis through waiting for the Fed for the next 36 hours as our mayor Kevin Hicks was talking about right now We're basically at flat pretty remarkable in terms of where we were yesterday in the action So as I was talking about two and a half percent folks when the market can't figure out within two and a half percent of where It should be intraday. You have to worry that it's very uncertain And when it's very uncertain you see what can happen in the likes of some of the multiples of the growth companies like Kevin's gonna be talking about coming up later You got AMD these chip companies man. They were just remarkably strong Did you ever think that AMD was gonna go back to prices? You were trading at in August of 2020 folks after it was up to 165 late November of this year That was a similar time frame to Netflix They are well below that level but again Netflix was at 700 bucks on November 15th folks. It's barely May. Okay What else were they talking about Starbucks? Through the 618 of the entire COVID run its head. All right, you have very very strong companies Okay, now Starbucks isn't some fantastic growth company that's got a 200 multiple and Meanwhile Starbucks has given up more than a 618 of its entire run from COVID You're telling me that the SMP is sitting at the 236 and you should not at least be considering that it has the possibility to trade back to the 382 Something I'm keeping my eye on folks if you're in a retirement That maybe your days of earning a living wage or pasture and you're living on that income that you've secured Capital preservation right now folks because yeah, it's unfortunate if you didn't sell when we were back up here at 4,600 Just a month ago But you're still sitting at 41 45 folks. There's a very real chance you're at 3500 There's a very real chance you're at 3800 all that does is take you back to a pre COVID level of 3400 Do you remember the days that many of us said geez? It would just be nice if COVID hasn't hadn't happened and destroyed the market because we were coming into things so well at 3400 in the SMP. Well, yeah, you're still sitting 750 points above that price level be aware of where we are folks Okay, we're coming into some very dicey times right now and it's gonna persist for a year or two. I would say This is not gonna get Inflation isn't gonna go away in three months or six months All right, it might begin to wane over the next six to twelve months But even expectations are you're gonna get inflation back pretty quickly. This is a rosy scenario You're gonna get inflation back pretty quickly to potentially three percent potentially three and a half percent But the push to get it down to two and a half to two percent Maybe the toughest obstacle of all and what happens then if we still have a recession Breaking into the economy you still have inflation at above two and a half percent Dicey scenario that could play out keep it on your radar folks as our man Larry says I talk about many times Very important to talk about right now. I think don't think about what you make think about what you can lose, okay? Yeah, and all this chairmen it does create some remarkable trading opportunities In this market two and a half percent down and up yesterday folks doesn't even make sense Actually read one Article last week and I'm gonna see if I can find this at the break. I was talking about the Nasdaq 100 over a hundred days Okay, let's pull up the Nasdaq 100 because this is one This is the statistic that really started to give me a little bit of pause Over the last hundred days the Nasdaq 100 has traded with an average volatility of 1.6% per a day. Did you hear that the average move in the Nasdaq 100 over a 100 day period was 1.6% That is a highly uncertain period of time folks and the market hates uncertainty Can't overstate that one. Alright, let's jump around to some of the equities We got moving this morning. We got some companies out with numbers. We'll stay with streaming for a moment paramount Mrs. Coolie quarterly revenue estimates on weak ad sales. So paramount plus Added 6.8 million subscribers in the quarter bringing the services total subscribers to 40 million declines in direct-to-consumer services subscription net earnings the Tributal fell to 433 million from 9 11 a year earlier. It is a tough deal man going into streaming Let's jump around Because you got two choices in the streaming sector. You either got to be the big dog that competes with Netflix Amazon Prime Disney Or you got to be a niche player and each player that you create Something that is worth subscribing to a strong enough part of the consumer base Not sure where some of these fall. Okay, so paramounts down 5.7% today There's your five minute. They spiked to 3117. There are 2844 would take a long-term chart of this thing the Bill Huang saga Talk about Putting a little bit of a bid up there to 101 97. I mean you just take that out of it though Right, let's just say you take that out of it completely And you say it bases around 40 for the better part of last year still straight into 28 folks You're still down 30% from where this thing was coming into the later part of last year for paramount Yeah, too many companies chasing too few additional customers. It's a tough one. I agree Duffy In my house, I'm thinking about it right now for the first time in a while that we got too many services going on because what do We have I have Amazon Prime, which I'll probably always keep because it goes well beyond what we're talking about with streaming Very rarely watch Amazon Prime actually, but I would if I probably cut the cord with some of the others are paying I have Netflix in the house. I have HBO. I got Disney I get the Disney bundle which comes with ESPN and Hulu and then we have cable on top of it Shame on me, right? I should probably be cutting some of those and When you add it all up Now the the the battle there is what do you cut? I Don't know on HBO's got some great programs coming out Netflix is something that the kids love and we love as well Ozark just released their final season been watching the the final six episodes of that Disney the kids love they watch Frozen every night, right? I The one thing I will say is I think the Disney bundle is the quickest cut of all because I watched no ESPN plus Hulu some in the house like it But who is a weird one too because then you have the elevated level of like Hulu plus or something like that I don't think that's what you get in the streaming deal, but nonetheless Paramount selling off down 7.2% We'll jump the water. Okay, now they're paying a price, too. They're down 1.8 percent We put it back on the daily. This is one of brothers discovery. Okay. This is HBO You're down 1.8 percent today you just pull back from 27 bucks to 17 This is what I've been looking at. Let's just put it that way. All right, you're right back to almost pre-covid level 1712 we just made a low what I say 1789. Yes, 1789 on their earnings and HBO Will be a player folks. All right, they're led by the CEO that was in charge of discovery a streaming veteran veteran and HBO consistently has some of the best content out there and content is king. There's no doubt about it. Okay I'm watching succession right now. I'm on the final third season. I think a succession I've got a couple other shows on HBO. I want to watch. I saw that there's Some great documentaries coming out there George Carlin. There's a George Carlin two-part documentary coming out I want to check out on HBO. Can't wait to check that that went out But they're all in trouble man in a big way Netflix you jump over I Be real careful in Netflix man down 1.4 percent because their whole business model is changing and when you think that You can accurately reflect the price of something when their whole business model is changing that is a tough one Disney We're still in Disney in my newsletter folks. You're up nine tenths percent today and They're any any very unique spot, which is why I've been so bold for them so long they've kind of faced a perfect storm here in terms of Pandemic problems movie theater problems the park's getting shut down Now they're dealing with streaming problems, okay But in the long run folks, there's only one Disney. There's only one Mickey Mouse. There's only one Star Wars There's only one Marvel Comics. Okay, the brands they control in the future are gonna pay dividends let alone the Disney parks Stay tuned folks. 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We got the S&P is sitting right above flat We're up two points right now Nasdaq barely in the red You got the Dow up 20 points Russell positive by one crude back above 104 right now You put crude on a five minute you get a little bit of acceleration man this crew market We just got a 102 handle a 103 handle and a 104 handle since 915 this morning folks Okay, watch out for that crew market and gold catching a little bit of a bid after quite a pullback from Friday to Monday Gold right now up about five bucks at 1868 if you haven't checked out the gold report folks great time to do it My dad's outstanding weekly newsletter. He's got a new full report out this morning with a couple buys So if your current subscriber check that out if you're thinking of getting into it might be a great time To check out that gold contract. He's got a little volatility in there And I'll let leave it at that everything we do folks comes with a 30-day money back guarantee So check it out on the front page of tfnn. All right jumping around to what else we got going on Jumping down the line with some of the stocks Logitech Lower 20% drop in sales from a year earlier as the maker of computer mice keyboards and other peripherals face tough comparisons to a pandemic fueled surge Last year. Let's see. Yeah, they're there. That's a tough one man. Everybody built out their home office, right? There's Logitech down 4% you take a look at a longer term timeframe man This is kind of what I was talking about to Kevin, you know some of the pullbacks here folks 140 to 63 and it's not stopping on Logitech and they are a strong company going forward folks They've gotten some big upgrades this year one company called them. I think the you know focused by something like that But not just yet they're down 4.3% on some tough numbers with a 20% slowdown on a yearly basis Let's see Cheg so online education. Yeah, they are tanking check out this one. So I guess people prioritizing working Versus learning man, some of these pullbacks a hundred and fifteen. Are you kidding me to 16 bucks? Where's this thing going in fact almost where you were in 2013 probably when it went public you trade to 1125 You're sitting at 1626 right now And I would expect that that thing could go lower if you're done 35% one day folks watch out man Hilton so let's jump over to Hilton worldwide. They got their numbers out. That's going to be a long-term chart Decent acceleration from COVID this morning though. You're down about 3% on their numbers. So Hilton they beat estimates by 6 cents They made 71 cents a rebound in travel demand issued a lower than expected full-year outlook That is the reason they're down about 3% on their numbers to 150 93 Let's see biogen their CEO is going to be stepping down He's going to stay on till a successor is found they basically came in at estimates and I guess the stock's probably pretty close To flat you're up 1.7% on their numbers as they come in expedia. So Speaking of travel There's a problem folks down 9.2 percent. We jump to Expedia. They lost 47 cents a share Less than the 62 loss that the market was looking for revenue exceeded estimates They gained no they did not gain they they gained last night, but boy the market is punishing them in Just like that you are back to where you were trading at in Expedia in February of 2021 after trading up to 271 And that folks are 271 that was after their last earnings in February 14th less than three months ago You're training 158 is the market rolling over just a little bit S&P's down 11 right now Avis you have the car rental company. It's a good time to be owning a car rental company They were up 7% much better than expected quarterly profit and they also announced a three billion dollar increase in its share repurchase authorization The car companies oh They give it back though just like that man you charge higher on their earnings last night whatever happened on the conference call I guess just the market opened and you give it back. It's a dicey scenario man I mean they crushed it right they crushed it and they're barely positive right now You take a look at the longer-term timeframe now this car company remember The Wall Street traders love this thing got a little bit bonkers up to 545 at one point You're sitting at 280 300 looks to be a little bit of a head for Avis alright, I'm gonna jump to I miss I mentioned the housing market There was an interesting article out here in Bloomberg this morning I was reading the hot housing market makes the feds inflation fighting job even tougher with mortgage rates going up But underlying demand still strong policy makers may have to hike higher just one of the risks You should be thinking about folks all right We all have our personal biases when I'm trying to do is put out as much information out there That you can be aware of the risks where they were where they are where the possible rewards are okay This housing market is a risk When you think about that if it still persists higher folks and those costs are rising that is inflationary And to get a hold of that they'd have to hike even higher Something to think about as this market marches forward because getting a hold of inflation where it is right now is not gonna be easy to say the least Officials are counting low on the higher mortgage rates to throw cold water on the frenzied housing market as they work to tame the highest inflation in decades But the market may not cool fast enough. That is the key there. Okay? Rising rates higher home prices. They are locking buyers up. My dad Did a great program last Friday. You can head on over to our YouTube page folks So what would last Friday be that would be April 29th Tom O'Brien show he was on there with best for Bihuli Talking real estate and one of the things they went through is the straight-out math of What happens to a monthly payment when you get just a rise from about 3% to 5% And it's a substantial rise folks in some cases you go from maybe paying 1200 bucks a month to paying close to 1800 bucks a month for the same exact property 50% increase in your monthly payment that is going to impact the market So yes, there will probably be an impact, but where that actually starts to come about we will see Average 30 year fixed mortgage back about 5% as we know you go from 5 and 2019 You make it all the way down to 2.7% at the end of 2020 and man It's been quite a rise since we kicked off the year think about it We had the mortgage rate at 3% to kick off the year. You're at 5% now on that mortgage rate All right, let's jump around to some of the other stories. I had up here Pfizer out with their numbers they cut 2020 earnings outlook despite strong first quarter COVID vaccine and antiviral sales They now expect so this is the outlook 625 to 645 a slight decrease from where they were they beat on the top and bottom line in the first quarter driven by strong sales of the vaccine and oral antiviral treatments 13.2 billion dollars of the vaccine and 1.5 billion of the antiviral treatment Paxlovid in the first quarter you jump over to pop visor shares and They're down about 8 tenths percent a little bit of volatility on their numbers But basically almost flat you take a look at the longer term timeframe But where we've been with Pfizer well off the highs of 61 bucks man of where we came into the new year We're trading at about 47 87 Let's jump around to some of the travel stocks as we come into this break You got Delta right now down about half a percent trading at 42 47 Pretty decent pop in the last six weeks or so for Delta two months almost now From about 30 bucks you're up almost 40 percent from that low folks trading at 42 bucks on Delta You jump to United United right now basically five fifty twenty one you jump domestically jet blue Yeah, jet blues in trouble man. I love jet blue They've had some great fairs from Tampa to Boston. I remember when they serve first started servicing Tampa Great Airlines one of the first airlines that had like great nice TVs nice new planes But boy, they got some issues right now folks. You're trading at 11 Dollars and 20 cents almost cut in half from where you were a year ago Stay tuned folks. 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We have the market right now We're sitting negative one point in the S&P's excuse me two points making Nasdaq negative by 51 Pretty tame market to kick things off. And yeah, we're gonna wait until 2 p.m. Eastern time tomorrow Very possible. That is 28 hours from right now. We got a Fed announcement one half hour after that We get a press conference. It'll be an interesting one to say the least folks jumping back to the front page of TFNN.com Folks our man Larry Pesmento. He has a live trading webinar coming up two weeks from today He'll be in there all trading day 9 a.m. till 2 p.m. I say all trading day folks the reason why Larry sets this up from 9 till 2 is that he very rarely trades for The final two hours of the day. So there's where the action is 9 a.m. till 2 p.m. Eastern time. I think I Recall how many said I think he says gonna try and get at least like six trades in there Maybe one an hour something like that. Don't hold me to that one because I think I just heard him say that on his show But he'll be in their live trading folks two weeks from today now the cost to attend $295 if you are a subscriber to Larry's daily trading service Fibonacci 24-7. Okay You get one month free included The better way to say that is people who attend Larry's live trading course a month of his newsletter is included Which is a $97 value if you're already signed up for Larry's newsletter and you sign up for this course Your next newsletter payment will be skipped. So there's where you gain the $97 if you are not signed up for Larry's Fibonacci 24-7 you get a month of that service included in this Okay, so when you sign up is when you receive Fibonacci 24-7. I Mentioned that because there's no reason to wait until Tuesday, May 17th to sign up folks I encourage you to sign up today you gain access to Fibonacci 24-7 and this live trading webinar will be taking place at our Discord server for the first time Larry will be doing this in the discord server. All right Not within the Tigers then we set up a separate channel for those who have signed up for the live trading webinar If you're in the Tigers then it's as simple as you'll be granted access You'll be able to click on the button within the Tigers stand trading room For special access to this live trading room But again, I encourage you to sign up early folks because if you're not in the room You got to get into our discord server It does not take more than just a few minutes practically, but please don't wait until the end on this one Okay, because if everybody signs up at 9 a.m. On Tuesday, May 17th, and they have to get in the discord room We're gonna take a few minutes to get you in there now This will be archived as well all five hours will be archived and folks There is no better time than right now in this market than a live trading webinar when we got the SMP Trading up and down two and a half percent and look at this chart You can't even see the volatility because we've moved so much. You got 4,300 in here. You got 40 40 Thanks so much for starting your trading day off with me folks. Stay tuned our man Basel's up next Larry at 11 live programming all day folks