 The following is a presentation of TFNN, the morning market kickoff with your host Tommy O'Brien. Good morning everybody. I'm Tommy O'Brien, company live from TFNN, 9.06 a.m. Monday morning. We got 24 minutes to go until the start of trading and you've got markets in positive territory right back to where we were pre-market on Friday before the fireworks to the downside. We'll see where we go on the opening bell in 24 minutes from right now. S&P's up about 35 points, that's 9-10% in the positive right now, trading at $39.34. You see the acceleration on Friday, let alone where we were late Tuesday in the market. You were trading at almost $4,100 folks, that's about 300 S&P points. You give up over the span of about 72 hours. End of the day Tuesday to where we were, lows of Friday afternoon. We come back to the Friday action pre-market, $39.35. We did make a bear market intraday, I think it's $38.34. Like that is the 20% mark on the S&P. We did make that point intraday closed well above that level. We're going to open above that level, but we'll see where we go on the open. Dow right now, up a full percent, up 310 points at $31,523. The Nasdaq you could say is the laggard, up only 6-tenths percent. Off of the highs that we had at about 2.30 in the morning, when we were above $12,000, you're trading at $11,914. We were at about $11,500 at the lows of Friday. Bitcoin catches a little bit of a bid. Now, check out the action on Bitcoin, right? You got nowhere near back to where we were at the close of action Friday on Bitcoin. You have quite a leap here to Sunday futures. You are back to that level now. But intraday Friday, the markets had a lot more up acceleration, upward acceleration than Bitcoin did. Now, you got that acceleration over the weekend to bring you back to the $30,000 mark, but be careful in that Bitcoin market. Ethereum, back to 2000, 2063 to be exact. We got gold up this morning, up $10 to 1852. We jump around to silver, up 21 cents, and notes and bonds right now, a little bit of lower price. But still on a contextual basis, looking where we are, chopping around at about 1923. You were as low as 1708, but just kind of building a base potentially down here. Now, we are at a price level that you were at as far back about six weeks ago in the yield of the 10-year, and we jump over to the volatility index this morning. We'll kick it off. VIX trading at 2916 right now. There are some of your recent highs. 3664 was the spike high we got to be exact on May 2nd. We were at elevated levels through the beginning of May. Friday's action saw a high of $32.91, I have on this chart. Let's put it down to a short term. Yeah, $32.91, and we're sitting at about $29.18. All right, let's jump around to see where we go this morning. President Biden out there remarks that China tariffs under review. Now, the headline here is that stocks rise on those Biden tariffs. I'm not so sure that's the case. As in all you're doing is you're back to bring things into a technical perspective, right? I mean, all you're doing is you're coming right back to where this thing fell apart on Friday. Nothing's saying that it can't happen again, but remarks that China tariffs under review when you get into it, so you have signaled he'd reconsider China tariffs imposed by the Trump administration. I'm not so sure it's happening. We'll see. It depends on probably what happens with the market, but he is in Asia, I think, with some type of meeting in Japan, I think, tonight. Traders interpreted Biden's comments that he'll discuss the US tariffs on Chinese imports with Yellen when he returns from his Asia trip as a signal that could be a reversal of some Trump imposed measures. Now, here's what I'll say. I don't think that's going to matter too much in terms of what is worrying this market so much. Yes, those tariffs would help things. And it's probably something they're looking at as inflation is out of control. Maybe that will ease some of the problems going on. But I'm going to jump to the next article I wanted to take a look at. And this had to do with Joe Stiglitz. So Nobel laureate, he was on with Bloomberg this morning, and he made some great points. Rate hikes killing the economy won't fix inflation because it's a supply side problem that needs intervention rather than interest rate hikes by the Federal Reserve. Raising interest rates, he has to quote, is not going to solve the problem of inflation. The Columbia University professor told Lisa and Tom on Bloomberg TV at the World Economic Forum in Davos, Switzerland. I think they're live from there this morning. It's not going to create more food. It's going to make it more difficult because you aren't going to be able to make the investments. I agree with a lot of what we're talking about, folks, no matter what happens with rates, a big problem going on right now is supply chain woes, China especially. What you do is you have supply side interventions, he said. One of the things that Biden tried to do is to have more care for children. And that would mean more women into the labor force. That releases one of the constraints, labor supply. We used to have surpluses in food in the US. We can get those back, at least trying to do everything we can globally to increase the supply is going to do more in dealing with the problem than causing a depression. Killing the economy through raising interest rates is not going to solve inflation in any time frame. The market probably needs higher rates as well to some degree, but I'm not so sure that as the Fed keeps ramping it up, that it's going to have the impact that people are hoping for and that is worrisome in the market because if the Fed starts bringing it with 50 basis point hikes over and over and over and you're not getting the type of impact to tame inflation that they're looking for, what happens then? But that's part of what's going on right now, folks. Supply chain is a huge issue going on with the reason why you can't get what you want and that's causing inflation. So we'll see how it plays out. All right. Jumping down with some other equities out there. VMware. So jumping over, come on. Where am I? Broadcom is going to buy VMware. They're in talk. So VMware, I had to get the company. I couldn't remember it. Shame on me. Broadcom. VMware spikes from 95 to 115. Broadcom AVGO is their symbol. Down a bit from 540 to 520 to be expected. Now here's, I'm going to jump to another acquisition rumor. EA. So EA goes from 130 to 134. You're up $4. What is that? 3% about this equity is up. The video game maker shares rose 2.5% after a report that the company was actively seeking a buyer or merger partner. They've held talks with Disney, Apple, Amazon, among others. Netflix might be in there too, folks. I remember saying on this program when it first kicked off, Netflix talked about getting into gaming. There have been tremendous articles written about how difficult it is to get into gaming. It is not just like a machine where you spend $100 million, you get a game that takes off. A much more guaranteed route may be just buying a gaming company, if that's what you're looking to get into. Keep that in mind, because I imagine some of these companies are going to be very attractive, to say the least. GameStop is positive after they launch a digital wallet for cryptocurrencies and NFTs. I mean, that may actually be something, folks. I know it sounds crazy, but GameStop from 95 to 97, this stock is crazy, to say the least. You are chopping around at kind of the lower levels that you've seen for this year. You make it down to a low of 86 bucks in January. You make it to a low of 77 back in March, and you just made it to a low a couple weeks ago to $77. Last week, the low was about 89 bucks. We're going to open at about 97. But yeah, the crypto space is not going away. And if you have someone reliable that you can work with for a crypto wallet, there is potential there. All right, jumping around to some of the other articles. We'll finish it up when we get back. We're going to talk a little bit of crypto as well. We're going to talk about tether withdrawals. Be careful of those stable coins, folks. And we're going to talk about a GIF peanut butter recall out there. Stay tuned, folks, we'll be right back. With booming inflation, we are purchasing powers eroded. 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We get the S&P is positive by 42, NASDAQ 100 positive by 83. All the markets continuing to drift upwards a bit. You get the Dow of 350 right now, the Russell, up by a solid 20 points. Jumping over, Mr. Diamond, J.P. Morgan. So they have an investor day going on today. You got J.P. Morgan up a couple bucks. To $190.72, Mr. Diamond says storm clouds over the S, over the U.S. economy may dissipate recession as possible, but will be unlike others, raises their estimates, okay? So getting into the actual numbers here, some big time numbers. Seeking to ease concern among investors following backlash over its plans to ramp up spending to build out offerings, bolster technology and compete for talent, the bank on Monday maintained its expense outlook of $77 billion excluding legal costs. Excuse me. An 8.6% hike from 2021, they've raised the estimate for net interest income, excluding its markets business to more than $56 billion for 2022. That would be a 26% increase from last year. So those are the numbers that they were talking about. The investor day is the New York bank's first since before COVID. All their senior leaders are set to speak. And just one is very general here saying strong economy, big storm clouds. I'm calling it storm clouds because they're storm clouds, they may dissipate. Pretty simple stuff, but the numbers they're talking about. How about that? $77 billion for expenses, excluding legal costs. Do you think the bank has any lawyers that are on file? I imagine so, remarkable. All right, jiff peanut butter. So be careful of jiff peanut butter folks, because jiff peanut butter got me on Saturday night, man, there is a recall going on, talking about it because I had some in my shelf. Wasn't aware of it Saturday night. And boy, I was in trouble yesterday. Being recall for potential salmonella contamination. This is going on in 14 states now. It comes from a plant in Lexington, Kentucky. I guess they had 14 people in there. Two of them have been hospitalized. I'm feeling almost better today. Wasn't sure what it was, but I had two peanut butter and jelly sandwiches of a jiff peanut butter jar. And if you want to Google it, you can Google it folks. You can figure out the lot names in it. Here's a picture. If it has the 425 in there, to be exact, if you have any type of jiff, that means it came from Lexington. But look it up if you have any in there. It comes with a bunch of different of them. I couldn't believe it. You always hear these stories about recalls, right? But I knew right away. I was scrolling Instagram or something like that. I saw something about jiff peanut butter recall salmonella. And I already knew that I had probably just gotten sick over maybe eating too much peanut butter on Saturday night. Maybe it was a little bit too heavy for me on Saturday night. Woke up feeling pretty sick at about 4.30 in the morning. Sunday morning, was sick all day yesterday. Finally feeling a little bit better last night. Still a little uneasy today, but feeling great for the show, thankfully. But yeah, pay attention. I was not happy. Not happy with the people of jiff, man. I couldn't believe that when I went and checked and I knew, I knew because I had been telling people that yeah, I had a peanut butter and jelly sandwich. It didn't quite sit with me. I don't know. Maybe I had two of them, so it was too much. Yeah, it was too much, all right. As they have 14 people being ill, so far it spans 12 states. And I imagine it's gonna keep going, man, because Vic-Ot-B, I'm not gonna be the only one. I had it on my shelf in the pantry and it had been there. Probably bought the bottle only a couple weeks ago. So it's not like I had stored it there for a while. And they just issued this voluntary recall on Friday. Watch out for that jiff peanut butter. I'm not sure I'm gonna be buying any jiff peanut butter anytime soon. Pfizer says third COVID vaccine shot for kids under five, 80% effective. So they may have a vaccine that's effective for kids under five. A third dose of the vaccine elicited a strong immune response and well tolerated by the kids with the majority of the side effects mild to moderate. Now I imagine vaccines are gonna be scrutinized. But we'll see how this one plays out. And this is based on 1,678 children under the age of five received a third shot with at least two months after the second dose. And that was when Omicron was the main variant in circulation. And those are receiving, those kids are receiving a three microgram shot which is one-tenth the doses level of adults. So Pfizer and the FDA have originally sought to fast track the authorization but they set that one back after the third shot they were looking for was pending. Yeah, and they delayed that application. Jump on over to Pfizer shares, PFE is their symbol. And you're trading higher but really just trading higher with the market up to about 53, 52, 75 as we get the markets up 38 points. Let's jump around to some of the fang stocks as we get ready for the opening bell in under seven minutes from right now. You got Amazon up about $20. Let's check out Tesla. They're not a fang stock, but man, they've been in trouble lately. Markets of positive folks and Tesla is negative by six bucks. Not what you wanna see there. I mean, I guess I should have shorted Tesla because I spent a lot of time on my program Friday which ran from nine till 10 o'clock and there's where 10 o'clock ended at 700. Talking about the distractions of Elon Musk in the market becoming wary of those actions justifiably. You're at 657. You're basically at the 50% retracement of the entire move. You make it to the 618. You're talking about 515 bucks. Maybe you make it back to the highs of August which was 502. Maybe 500 to round number. But nonetheless, be careful of that one folks because Elon's got a lot of other things on his plate right now. And I talked about it a while back. He is a visionary man. In Tesla, the vision's there. The vision's done. That's a company that's operating on all cylinders. Now, yeah, he will stay intact with that company no matter what I think. And it's all speculation folks. Okay, that's what I'm doing the show for. Speculate on things to share my information with you. But it's no longer the visionary company that it once was. It is now a multinational car company, multinational energy company. But it's pretty situated and it's not going anywhere. And Elon has bigger dreams than just running companies that are situated. Even SpaceX, I'll pull up the article. They just raised more money. I'm gonna pull up that article over the break. But I think they're raising something like $1.7 billion of cash. Maybe he's gonna start doing more for SpaceX. Something to consider, man. Because it's dicey what's going on right now. And his attention seems very devoid of what's going on at Tesla. And they still got some pretty crazy multiples at 663 for that stock folks, so be careful. All right, let's jump around to some of those other bank stocks. Microsoft shares opening up about three bucks. Microsoft almost makes it back to the 50% of the full run folks. And this is why the S&Ps are at the 382. You get a great stock like Microsoft. Remember Microsoft was one of the strongest earnings out there recently. Yeah, there's their last earnings. April 26th, crush on numbers traded up to 290 before trading back to 255 with the market. But if Microsoft can pull back to a 50% retracement folks, anything can pull back to a 50% retracement. We get some retail companies with earnings. We'll go over that as well. We jump over to Google, up about eight bucks. Talk about pullbacks, man. These charts are just wild. And we'll pull up Apple, the big dog. So much for bringing the bell at $3 trillion, man. 182 in change, you hit 182.94. Credit to whoever said I'm selling with Apple at 3 trillion bucks because you're now trading at 137 and Apple on a three-year weekly, right at that 382. And that's an area that's kind of been an area of support or at least chopping around between the 382 and the 50% for the better part of like, what is that from August of 2020 until almost July of 2021. You were in that area that Apple's now challenging. All right, folks. We got three minutes until the opening bell. We got markets sitting right where we were on front, where we were on Friday pre-market. I imagine it'll be an interesting open to say the least. Come on back, folks. We'll be back in three minutes. 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 publish the Gold Report with coverage 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 Zen, 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' for just $1 for the year. There's no cash or added costs when you join our community of traders. In the Tiger's 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' as they share trading ideas, news analysis, and discuss the market action all trading day, even at night and on the weekends. The Tiger's 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 trader's 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 guardleafs, 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, unconditional 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. You got the S&P opening with a little bit of negative action right coming into that opening bell. We're positive by 31 points. The NASDAQ really gave it up there pretty quickly coming into the opening bell as we're at 11,876. We just dropped about 45 points. Dow's still up 300. You got the Russell up about 15. Go contract up about 12 bucks this morning. Crude holding steady at about 110. We had been as high just before I came on the air. That's a five-minute bar we're looking at, at 8.50 this morning. You were about a buck 50 higher in Crude volatility to say the least. All right, we do have a bunch of earnings this week. We got a bunch of retail earnings. Nordstrom, Best Buy, Ralph Lauren. But we get Zoom tonight after the bell. Zoom down about 1% to kick off the day as they come into their earnings tonight after the bell. You jump over to the Analyze tab. There's a move for you, folks. 20% is what's priced into this equity on their earnings tonight. If you're an options trader, even if you're not, if you're holding Zoom, you better be prepared for some volatility after the bell because the option market right now is pricing at $20 a move in either direction. It's probably right for the moves that we get in Zoom. I mean, just on Friday, we had $8 a movement, did not get the clawback in terms of clawing back all the losses that it had from the intraday. Zoom just been, talk about a nightmare scenario, man. You were right back to where you were trading in February, February 3rd to be exact of 2020, let alone you go back. Thank you, yeah. You're back to where you were in 2019 on Zoom shares shortly after they went public. Not what a lot of people thought for sure. All right, what else do we have? We get Best Buy. Talk about a pullback in Best Buy. We accelerate through the 618. We're sitting at 7126. Markets are pulling back, man. NASDAQ 100, it's only positive by 20 right now. S&P is positive by 26. The companies that I'm looking at that are coming up with their earnings this week are trading lower. There's your action on Best Buy. You jump over to the Analyze tab and they get some volatility too. It would make sense being in retail. 15% move priced into their earnings. Their earnings are on Tuesday, okay? Yeah, Nordstrom, JWN. How about a 20% move priced in $21? You're priced in a $4 move. There was the acceleration on Nordstrom. On Friday, you see it selling off with some of the retail earnings last week. You take a look at the longer term timeframe. You get a lot of these equities, man. You're just dangling near some pretty dicey areas. Okay, on Wednesday, jump through. We get NVIDIA. This should be an interesting one. Let's take that off there. NVIDIA, almost back to where we were trading at in April of 2021. You were at a price level for NVIDIA in August of 2020 of $147. They are out with their numbers on Wednesday. The market is pricing at about a 10% move in either direction for NVIDIA. We also get Dick's Sporting Goods, $7805. They've had quite a bullback from $147. Let's just see where we are on the Fibonacci level from the bottom of $13. So you're just coming through that 50%. Man, it looks like the 618 might be where you get tested. You commit to the high of 2020, which would be at about $65. You jump over to the Analyze tab. They got about a $10 move. Some big moves priced into these equities, rightfully so. We're talking about 10, 15, 20% priced in coming out on their earnings. An extreme period of uncertainty, folks. And then Thursday, we get a ton, man. We got Costco out with their numbers. Now, let's see where Costco is on their Fibonacci retracement of the full run higher during COVID. Yeah, just sitting around that 618, man. You're at $420 for Costco. You jump over to the Analyze tab. Their numbers on Thursday, about a 9% move, which is a huge move for a company like Costco. Macy's is out with their numbers on Thursday. Talking about a $3 move for an $18 stock. They pulled back pretty harshly over the last couple weeks. You're at $18. You're almost back to the lows we had last year after trading at about $5 during the depths of COVID. What else we got? We got Autodesk. We got Gap. Let's see, Gap. That GPS. Boy, man, these equities. Yeah, we do. We got Gap on Thursday. It's a huge move for a $10 stock, a $1.20 priced in. We got VMware. That's interesting on Thursday as well after Broadcom going after them. We got Alta Beauty. Let's check out Alta Beauty. Thursday's going to be a big one, man. Lots of companies. Alta's held up pretty well. You're down about 410% right now. We jump over to the Analyze tab. We got about a 10% to 11% move priced into their earnings. We got American Eagle. We got Jack in the Box. You got Workday. Metronic Burlington stores as well on Thursday and Friday. We get big lots and we also get Canopy Growth. Talk about a stock getting pummeled, man. Canopy Growth. $5 stock and they're pricing into $1.25 move on their earnings and it's tough to find a buy on this stock when you just go straight down over the period of a year and a half from 56 bucks to $5.37. If you want exposure to Canopy, one way you could do it is Constellation Brands. Up about 910%, look at this, holding up pretty well, Constellation. You look at this consolidation, right? I'm going to extend this box a little bit further to the right as it just kind of keeps chopping around. Maybe you could make the case now that it's a little bit higher than that box, but you're in a consolidation area. The bottom part of that consolidation in Constellation's at about 212. You're sitting at 236, but they do have exposure to cannabis while having the stability of their spirits and beer lineup. I think they have, I know they have Corona. I think they have Modelo, Kim Crawford mines. One of the biggest alcohol distributors out there because boy, Canopy. At some point, folks, those Canopy stocks are going to gain some value, but obviously there's still problems in that market with the way that they are reacting, to say the least, right? All right, now we also get Wednesday, the FOMC minutes, which would be interesting. So two o'clock Eastern time on Wednesday, we get the Fed minutes. We also, prior to that, we get some Fed speak as at 12.15 on Wednesday, Fed Vice-Chair Leo Brannard, she'll be speaking as well. You get your own Powell speaking on Tuesday at about 12.20 for the National Center of American Indian Enterprise Development Summit. It's always a possibility things get said when we get so much going on, folks. And today at noon, we get Atlanta Fed President Rafael Bostic and at seven o'clock tonight, Kansas City Fed President Esther George. So lots of, lots of week ahead in terms of what we have coming up. Okay, let's jump around to some of the other articles I had pulled up here, what I wanted to talk about. Yes, Tether, back to crypto. Tether withdrawal is top $10 billion as regulators raise alarm about stable coins. Folks, you want to trade crypto, that's great. You want to trade crypto and you think there's something stable about anything that you touch in that area? I don't think you're being real with the risk that you're taking. Tether has seen its circulating supply plunge from a record 84 billion on May 11th to around 73 billion as of Monday. Recall that the Luna mess was 60 billion. No reason why Tether can't go it as well. Regulators have raised concerns about stable coins. The panic over UST, that's Luna, or at least the sister coin to Luna had drawn attention to other stable coins. Tether in particular, Tether has seen its circulating supply plunge to 73 billion. It's meant to be pegged to the US dollar temporarily dipped as low as 95 cents on May 12th. After another type of stable coin, UST plunge well below a dollar. That resulted in the UST's Luna token selling off as we all know from now. Tesla dominates the $160 billion stable coin market. But look at how big this market is for $160 billion. And there's nothing to say folks that there's anything stable about it at all. Yeah, unlike Tether, UST wasn't backed by fiat currency. But when you're messing with crypto, man, anything's possible. I mean, even Coinbase, right? Who would have thought that if you have money in Coinbase and they go bankrupt, they just take your account. Be careful in crypto, man. We'll talk a little bit about that. We'll take a look at Coinbase when we get back as well. Stay tuned. Are you in the market for buying or selling real estate in the Bay Area, including the surrounding St. Petersburg, Tampa, and Clearwater 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 market. Before you make one of the biggest decisions of your financial future, call Tiger Real Estate LLC today at 727-329-8322 or email us at tiger at TFNN.com. That's 727-329-8322. Call us today. The technology around us is changing every day. With so much happening, it can seem impossible to keep up with all the information. 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We just dove down to a price level of $39.13 and just like that, we're back up 16 points. You're only positive by about 14 points. You got down to $39.13. That was a 27-point sell-off just from 9.15 this morning. Lows at about 4.45, we're talking about $39.11. All right, jumping back to crypto. So Coinbase, down another 8.10% today before we finish the conversation talking about Tether. The important part here, so they got $10 billion of withdrawals from $83 billion down to $73 billion. Now, unlike Tether, the UST debacle that was with Luna wasn't backed by any fiat currency held in a reserve. Instead, it relied on some, basically just it relied on the value of Luna. And when Luna tanked, UST tanked. Now, here's the important part of Tether, folks. Regulators and economists have long questioned whether Tesla has enough assets and reserves to justify its stable coins purported peg to the dollar. The company previously claimed Tether was backed one-to-one by dollars in a bank account. It's a brilliant business plan, if you can spin the lies, because if it's backed one-by-one with dollars in a bank account, then as long as that money is like FDIC insured, it's pretty reliable. But subsequently revealed it was using other assets, including commercial paper, short-term corporate debt, and even digital tokens. Was Luna one of those digital tokens as collateral after a settlement within New York Attorney General? So, keep in mind, they only revealed this because they had to settle with the New York Attorney General. Last week, Tether said it reduced the amount of commercial paper it owns and increased its holdings in US Treasury bills. For the first time, the British version islands-based firm said it also holds some foreign government debt. What kind of foreign government debt? Tesla declined to comment further on the source of its funds, but said it is pursuing more thorough audit of its reserves. If that's not like the scariest phrasing of how your money is backed, folks, then I don't know what to tell you. Would not be putting my money into that. You can put it in there as a play, but there is a substantial risk of putting your money in Tether and there's no reward. That's the tough part here, right? This thing's never gonna be trading above a dollar because it's pegged to a dollar, but it can definitely trade under it. You're taking a substantial level of risk for no reward. Now, you could say the reward is you don't have to move it off crypto, right? You don't have to put it into dollars. That is your reward that you're taking the risk for, but you better be aware of the risks you're taking because not everyone is aware of the risks they're taking overall. I mean, Coinbase in their most recent quarterly filing said that in the event of bankruptcy, the client account funds may become general creditors. Not a lot of people thought that was the case, folks, okay? But that is the case. You're messing with a completely different area. Coinbase is not like having a TD Ameritrade brokerage account where your money is segregated. Obviously not, they've told you so. And I'm surprised the stock hasn't tanked even further on them putting that out there. It's a remarkable statement. And when you consider where crypto is right now, there's the severe chance that this thing goes BK, man, because look at where Coinbase is, okay? No matter what they tell you, just look at the chart. Coinbase is at 65 bucks, okay? The last time Bitcoin was down to 30,000, Coinbase was nowhere near, okay? Look it, the last time Bitcoin was at 30,000 was in June of 2021. In June of 2021, Coinbase was worth four times what the company is worth right now. That just might bode not so well for Bitcoin sitting at 30,000 as well because no one's trading crypto anymore. Not sure that ends well on Coinbase especially. Yes, crypto's around, all right? There are gonna be some amazing things that cryptocurrency and NFTs do for our society, but there's nothing stopping Bitcoin from going back to 10,000, man. You're telling me Zoom can't trade from 588 down to 89, but the only thing that can happen in Bitcoin is it get cut in half? I think at some point Bitcoin might come back to 10,000. The more I look at Coinbase, the more I see the stories coming out, the more I see people taking money out of stable coins. You know, UST and Luna collapsing, $60 billion gone. And then you look at Coinbase that's flirting with insolvency and telling people that they're gonna take their client funds if they go BK. And meanwhile, you got Bitcoin holding on for dear life at 30,000. How are they holding on for dear life at 30,000 if no one's trading crypto on Coinbase anymore? We'll see. All right, let's see where some of the fang stocks open up today. Amazon up about 810th percent. We got Microsoft shares right now, catching a little bit of a bid up 1.6%. Apple really catching a bid, man. You're up 2.2% for Apple shares. Google shares up a percent as well. Let's see how Elon's doing Tesla basically flat. And I will pull up that SpaceX article after the break because they're raising money at SpaceX. They're raising like 1.7 billion. I think that company now valued at more than $100 billion, quite the company for Elon. Do I? Shame on me. All right, hold on. Who do we got on the line? Jose and Lakeland. Jose, good morning, man, welcome. Greetings, greetings, and yet more statutory greetings. Top of the morning. Top of the morning, man, happy Monday. What are we looking at today? Hey, I just wanted to ask you a question. Maybe you can agree with me. So I don't feel like I'm living in a Seinfeld world. Donald Trump's reign of terror was four years where he browed beat Reich Marshall Jerome Powell, the Fed Chairman. Now, he threatened them with his job if he didn't keep interest rates and they have zero for four years. Shouldn't we be blaming Donald Trump for the inflation we're looking at right now because I don't know how you can see it any other way. That's a million dollar, billion dollar question, man. Well, first of all, I think, you know, you got to keep things separate. It's tough, though, man. Every president has their wants and needs of what they want the Fed to do. But the supply chain deal is real right now, man. I would love to just blame it on Trump. You know, I would. But the supply chain deal is real, and that's what has me a little bit worried that as the Fed starts hiking here, that it's not gonna have the extreme impact that they may want immediately because if we're still having supply chain woes, I'm not so sure that those hikes are gonna have the immediate impact that they're looking for. I hope so, man. You know, but it's a little worrisome, and there's definitely a tail risk, if not a bigger risk there, that the Fed hikes, and that's why, like three months from right now, man, things are gonna be so important. You know, it's like, when we start getting the data two to three months from right now, and they've been hiking 50 basis points, and they're hiking 50 basis points, and the inflation numbers are being compared to some easier comps, right? From last year in August or September or something like that. I think we're gonna find out either way. Well, look, I know tomorrow, the sun is gonna rise in the east and set in the west. Where is it in the constitution or something that Fed hikes automatically cure inflation? What if it doesn't happen? I don't see is it as a fader complete? Look, you've got milliards, lumber is stacking to the roof, OSB, pressure-treated wood is stacking to the roof. Things are definitely slowing down, like OB1 says, they're slowing down. Yeah, and the hit on interest rates for housing, that's gonna matter for sure, man, because those payments, they matter for sure. There's no way around that one, man. Hang on, hang on, because you're gonna have a tech rally, you know, that feel-good rally before Memorial Day this week, hang on. This volatility, man, it's what keeps people, you know, in the market, two-way volatility. Meanwhile, the market now back almost in bear territory. Jose, man, thank you for the call as always. Call again, have a great Monday, brother. Sharpening your skills as an investor is like getting better at playing a musical instrument. You have to practice, sure, but you also need excellent instruction from experts. At TFNN, you'll get advice and guidance from the authority in technical market analysis, and it's not just dry, tedious text either. 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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. 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. You got the markets holding up relatively well at least for the first 25 minutes of trading, but man, the market hadn't fallen apart yet on Friday when I was doing the show. Always so interesting that I do the program till about 10 in the morning. So it's only 30 minutes in the trading day and so often the trading day has gone completely crazy by the end of the day. Meanwhile, it seems so tame when I'm on the air. Excuse me, folks. Market's holding onto the gains up 36 points. NASDAQ 100 up 82, the Dow up 366. We got a question in the Tiger's Den about MPW. So from our man, Jimmy, saying, there's a research analyst raising the warning flag on some unsustainable business model items and some related company transactions. This company, Medical Properties Trust, Real Estate Investment Trust. So this is interesting when you get into what they do. They invest in or in lease healthcare real estate. So they have a subsidiary, the company acquires and develops healthcare facilities and leases facilities to healthcare operating companies. It also makes mortgage loans to healthcare operators collateralized by their real estate assets. In addition, they make loans to certain of its operators through its taxable REIT. There's a lot going on there. So I don't know enough about the fundamentals of the company. But it seems like they're building the facilities, they're leasing the facilities, they're then giving the loans for the facilities. You check out the chart. Basically, all you got back to was where you were pre-COVID. So anything in real estate, why are they just back to where you got to pre-COVID? Right, as in 2020, you're at $24.29. The beginning of this year, all they did was they got back to even on that price level of 24 bucks. That's a little alarming in its own right though, right? If you're in anything to do with real estate, man, why are you just trading back to your highs of 24 bucks since then, we're at about the 50% retracement. And we'll finish it off with that article about SpaceX, man. Elon's got 127 billion dollar company not named Tesla folks, SpaceX, looking to raise 1.7 billion. This article just out over the weekend in new funding, boosting its valuation to 127 billion dollars. And they got a couple different issues that they're going after, starship and Starlink. So not out of the round folks for Elon to just be a little bit more fascinated with maybe shipping humans to Mars and letting somebody else take care of the daily details with Tesla. It's possible, keep it in mind. Thanks so much for starting your week with me folks. Stay tuned. We got Basil Chapman. He's coming up live next. Have a great Monday, everybody.