 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 growling and prowling with us out here. We have the Dow Industries up 62. You get the Nasdaq Flat, S&Ps up 6 and 1 half. Gold contract up $9.70 at $1409.80. You get Silver up $0.05, $0.15, $0.34, and Outs LightSuite Crude, flat, $0.57, $0.34, a barrel, notes and bonds. You get the 10-year up 7 ticks, $1.27, $0.24, 30-year up 19 ticks at $1506, and King Dollar. King Dollar down to 43 ticks, trading $95, $675. The Euro is at $113. The Yen is at $107.50, and the Pound is at $127.00, the one that you as a dollar. And bottom line is that that metal contract is hanging tough. We had a big week last week. It's up here. You get 218,000 contracts, which is huge. 10 o'clock in the morning. I suspect we're going to take some kind of arrest here. But the bottom line is that you got a push here. I mean, look at this. Friday, we did 519,000. Thursday, we did 545. And a 218, we're going to do probably 400. That's buying once again. Some of the higher volume equities in this market I saw beyond meters coming down slightly. Let's see, BYMD. So that's down $13.50. Not the end of the world, but at 1.40, the high out there is 201. Yeah. Quite a pullback. Now, have you tasted any of these? I don't think so. I got to taste one. I haven't tasted any of these. I don't think I've had beyond meat. I think I've had an impossible burger. OK. Which is pretty good. Was it? Yeah. OK. OK. Does it taste different than a burger, though? Come on. What are you expecting to say? No, it tastes identical to a beef pen. I just want to ask you. I don't know. I know. I don't think it's ever going to taste identical to a cow. Right. So let's take, let's look at some of our higher volume equities out here today. You got Caesar. So this is pretty wild. Yeah. You know, when you go back, you know, Caesar's, I mean, used to be the premier, you know, 20 years ago. That was the premier. Might even be a little bit further. Yeah, 30 years ago. Yeah, 30 years ago. Well, yeah, 39. That'd be like year 2000. I don't think Caesar's was, it's more like an 80s, 90s, that they were the creme de la creme, right? Right, right. And, you know, so you got to take over happening here. This is after, you know, Caesar's had already gone BK. Icon turned around and got in the middle of it. This is going to be a big deal for him. So, you got El Dorado, he's just buying Caesar's for 8.58 billion in a deal that Icon basically created. OK. Let's see. The agreed equity value of 12.75 a share, a mix of cash, El Dorado stock represents a premium about 28% of its closing price. Let me just, I'm just curious as to, like, how far the stock came from its low. So if we go back 10 years, well, go back 15. Yeah, so this is, see, this is a new stock. That's what's going on. OK, so even though it's an old name, it's a new stock. So it started somewhere about 15.75, went down to 450. And is that 2012? Yes. Yeah, and then hit 330 again in 2015. Look at this, this is pretty crazy. And then $5, only what, five months, six months ago. The low of the market, yeah. Probably New Year's Eve or, excuse me, Christmas Eve. Yeah, so we'll see where this old baby's going to go. They got a lot of competition now in not just Vegas, right, in terms of worldwide casinos. I think Encore Boston just opened up, actually. They did. They put that in, yeah. Yeah, I heard at the interview with the CEO, and you know what's so intriguing is that they're looking, you know, we know how many gambles around Boston. Boston, in general, folks, OK, that's why one of the reasons that Foxwood has done so good, they're perfectly circled between New York and Boston. Do you know what I mean? Foxwood had a monopoly on Northeast gambling. Big time. They all got to split the pie now. Right. And what he was saying, they're expecting, because Boston sets an iconic city, they're expecting their overseas clients coming into Boston. To check out Boston and gamble, and then get back on the plane. So I thought that was like, wow, that was. It's a nice marketing line from the CEO. It is. Well, I don't know if there's already enough to do in Boston, and they got Foxwoods right there if you actually wanted to make a trip. I guess where I'm coming from is that when they are Macau, I mean, they have a whole bunch of companies that just bring people from China to Macau. I suspect that they're going to have marketing all over Europe. Guess what, six and a half to eight and a half hours nonstop to Boston. Come on in and spend some money. I think they probably tried that with Atlantic City, though, and how'd that do. As in, I'm just like, that's the CEO out there saying, we're going to bring tourists to Boston just to gamble. I'm like, well, that's great if it happens. No doubt. We got to take a look now. What you have between gold and silver, folks, it's not divergence, OK? But what you need is that silver is going to need an additional sign of strength to really break its larger trend. We broke the trend that said, OK, silver can go to 1647. We broke that with conviction. But when I bring this up, you're going to see there's a differential in the aspect of the larger trend still in silver. And if I bring this up, would you going to see it's actually, I don't like to do it this way. You're going to see that, yeah, I can be right at it to even break that $21. So we're coming right up to it. So what I'd like to really see here, here, I'll bring this. I can just zoom in if you want. Yeah, and I can bring it closer. Keep it right there, right there. It'll stay right. Is that what you're looking for? So you can see, I suspect we need to build some cars. What I don't want to see actually is I don't want to see this busted right now because that would be quite a move. Because you need a bar like we had last week. A bar last week is $1.10 in silver, which is nice. Get a little sideways movement next couple of weeks, then bust it, then bingo. Then you got action, man, because that's $21. That's a good number. Quite a different chart compared with gold, man. It is. And if we put up the gold chart, folks, what happens is this, I can make the case that gold can get to its all-time highs. You take a look at this continuous contract. And what you're going to see here is that the high that was generated there, and there I'm talking about. October of 12. Yeah, October of 1794. Now, that broke that concisively. This one here is a little trickier, because you should be touching three. And I'm really only touching two there, do you know what I'm saying? I don't think that qualifies as a trend. You need three of them. But bottom line is that, hey, listen, man, and you're going to see this consolidation from 2013. We went into it nice. And it looks to me like this thing is real. And the dollar's going along with it. That's the other side of it. Stay right there, folks. Tommy and I are coming right back. We have the Dao industrials right now, up 69. Nasdaq's up nine. SAP's up eight and a half. Come right back. The Taz Profile Scanner is the most revolutionary piece of trading software that you will ever try. Wouldn't you like to approach the markets with confidence? As you begin your trading day, it's likely that you'll be faced with lots of decisions. In order to make the best decision, the first thing you'll need is a strategy that will help you minimize your risks. 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So this is headline-grabbing, no doubt. So let's see. So Bernie Sanders is going to propose today canceling the nation's outstanding $1.6 trillion in student debt and offsetting the cost with a tax bill on Wall Street transactions. The Vermont senator will propose a legislation on Monday that could provide, would provide, debt relief to 45 million Americans who have college loans, according to a fact sheet provided by his Senate office. The plan would include a 5-tenth of 1% on stock transactions. That's 1%, right? Tax on... One-tenth. One-tenth. They're all, yeah. Okay. 0.5% on stock transactions, one-tenth attacks on bond, and that is five one-thousands, which would be one-half of one-tenth to put it in there. Yeah. And then a... Is that a tens of... Derivatives transactions. Yeah. That's what I said. That's the five one-thousands or one-half of one-tenth. So I suspect this is dead an arrival. But you know what should happen here. I would agree. What should definitely happen, folks, okay? What happened years ago is that the banks got in the middle of this student debt deal. And unfortunately, you can't write it off even in bankruptcy. I agree. That's really all that needs to be done. That's garbage, exactly. That's all that needs to be done. Right. And it's like, I had student debt. I paid it off. Right. I shouldn't be penalized, and I would be penalized for paying it off if everybody else gets the reprieve there. Right. But the whole point of bankruptcy is you're under an insurmountable level of debt. Right. I think many people would agree that a lot of students across the country found themselves in that situation. Right. They've kind of been preyed upon. Oh, there's no doubt, man. And got to say this happened in the housing, though. They bear some of the responsibility, man. People that go to school and take out a quarter million dollars in debt with no plan on how to use that degree you're paying for to get it back. That's right. Well, you're going to have to declare bankruptcy. Right. That was a poor decision financially. And that's why you have bankruptcy, because we all can make poor decisions financially, and you can rebound from it. You learn from it. Right. And what happens here? Now, this is what is... So, picture in the housing crisis, in order to get the loan, if you didn't have the money, you basically were basically fraudulently filling out those forms. And that was, like, prevalent. And the school deal, because the federal government is backing it, you just have to tell them, yeah, I don't have any money, but I'm going to school, and they're going to give you the money. Yeah. In the housing benefit, a lot of people weren't fraudulent, too, though, and they got given debt that they probably shouldn't have been given, just to put. And that's how this one relates in the same way. I mean, that's, you know, that students... And that's the tough part. And I'm agreeing that the tough part about the student deal is, they are giving a lot of leeway, because that's the whole point, right? They're not even earning income. Right. So, it's a weird deal in terms of, okay, I'm going to loan you $200,000. You're not even going to work for four years. I don't even have any income to go off. Right. And that's what's been abused in the system. And on top of that, that is what raises the price of education, because if you have a third party paying, it's a no-brainer. It's like, okay, hey, let's raise it again. We're just going to give them more money. We're going to get the money and we'll worry about it later. Why? And the tough part is, it's a life lesson, unfortunately, right? I mean, these aren't 12-year-olds. I can't even imagine. These are adults, all right? You're over 18, okay? So, unfortunately, you're still very young. You have a lot to learn. Right. But then you're merging these two things. You're also a person where it's like, you have to understand it. You can't take out $200,000 worth of debt if you're not going after a degree that you plan to use to pay back that debt. And I think that's where the separation, unfortunately, happened with a lot of people taking out debt. And they said, well, that's just what you do. And that's what they were told by a lot of people in the industry, which is the bummer. Oh, yeah. Yeah. So you're going to see a lot, and I'm pretty liberal. I think you're pretty liberal when it comes to financial stuff. We merge fiscal conservatism. I can get along with that. I don't think that that is a mainstream thought even in the Democratic Party. That's where I reside, and I don't think so. But I think that their attention would be much better served by saying, we don't have to take the government and pay anybody back. Just give them the option to go bankrupt, which is what everyone should have. So hopefully that's where that conversation goes because I'd support that. I don't know who wouldn't. Pretty intense. I said one time to one of my friends, only a group of non-working students could get so railroaded in terms of lobbying to be unable to declare bankruptcy. As in no other group, whether it's retirees, that wouldn't happen. Whether it's Wall Street, that wouldn't happen. Only somebody as ill-served as literally a student base. Nobody was really sticking up for them, and that's where those consumer protection watchdog type, hopefully, yeah, because the banks got them over hard on that one. It's a monster. So, oil, let's go take a look at oil. The oil market, no doubt, last week, bottom line is trying to break into its downdraft. It's having a little tough time here. Last two weeks, we went up from this $50, you're at $57.44, but you're coming right into, this would be considered ice, like a perfect white cough ice. You had the downdraft that was out there on the 23rd, and then you got the additional one out here on the 30th. It's pretty remarkable, the month we've had, just to say the 23rd, it's the 24th of June, going a month in terms of that month, going from, even back it up. Can I just steal from when it got? I was just going to say, what those two days? Yeah, going all the way back there. So that's about two months, right? But it is about two, where there's April 24th. We were sitting at 65 bucks, so in the span, that's really 24th. So two months exactly. We go from 64 down to what's our low? 50 bucks, and now we're right back at that 50% almost. Yeah, quite a run man. And you know, there's no doubt. We'll see, let's go see what gasoline is, because that gasoline, that refinery, July, let's say, natural gas. So it's $1.86 wholesale. Okay, so having the same time frame. Yep, that's the 23rd, right? Yeah, 23rd in the 30th, yes. So even gasoline. Now that's pretty intense, because if gasoline can't hold up like that, we'll see what happens this morning. But the reality is that you get that big refinery that's not only just closed. You had the big refinery. Yeah, it's not there anymore. The largest in the northeast. Right. So gas came from 166 wholesale, or 186. And let's go to natural gas. Let's see. MG. Because this 225, yeah, this is just bouncing along. That took a hammer in when they came because those numbers are on Thursday, right? Look at that. Thursday, we went from 230 to 215. Yeah, that was a huge run. Big run. And natural gas folks has to get back inside 230 to do anything, you know? And really, it's almost like, let me put this back, it almost looks like it's almost in a whole different range right now, actually, MG. Those lows there are, yeah, 250. Yeah, so that's in the range 211 to 189 or something. Plenty of natural gas out there. Stay right there, folks, who come right back. We have the Dow Industries right now trading up 51. NASDAQ has flat S&Ps up 6.5. Come right back. Hi, folks. Tom O'Brien here. If you'd like to get my daily newsletter, Market Insights, then 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. Market Insights are specific buy-and-sell recommendations for stocks, ETFs, and even options, which stops the price targets included for every trade in my newsletter. If you'd like to try my newsletter risk-free for 30 days, then head over to the front page of TFNN and you'll find Market Insights under Trading Newsletters. I use my years of trading experience to bisect and dissect the market every morning and give my subscribers the most important information they need to know for the day ahead. 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Hey, before I forget, I hope you, if I don't talk to you next week, I hope you guys have a good fort. You too, man. You're awesome, man. Let's make it a great one. No doubt. Yeah. Hey, you know, I want to have a gold question for you, but before I ask you, Tom, you were talking about gambling in that new casino here in Boston. But when they opened this Springfield casino, I think it's MGM Springfield. It is, yeah. I think the name of it is. Yeah. The Mojican stunt down in Connecticut took a big hit. Yeah. So, yeah, I would assume, as you, Bob, hypothesis at the top of the show, that Boston will even take more of a hit off of that. But that's an interesting observation. No, it is. It's just a throw in there. From Europe just to gamble and then fly home. Yeah. And who knows, man, Boston's a beautiful city. I'm sure they're going to try and pitch that. The tough part is, man, there's a lot of casinos now fighting for that piece of the pie. Oh, big time. Where you have the MGM, which is an enormous one that just opened, and then you have now the win. Right. Oh, yeah. So, let alone, you've got Foxwood still, you've got Mojican still, and the amount of money they spent, billions. I don't know if the pie is that big. I mean, they, they, because I have one good friend who works for MGM, as in he works for an advertising company that's big on them. So, he has, you know, info on what's their projections. Man, the projections on these casinos are for a lot of gambling coming from, I'm not sure where. When you look at how big the pie is that they, how are you going to, you know, this isn't exactly the strip in Vegas anyway. We'll get to it, but as in those two alone a billion dollar casinos now. The advantage that the new Boston one has over everything else is that it's, it's the closest fly time from London to here. You know, as opposed to even flying to New York, it's another, I don't know, 45 minutes to an hour in the air. Yeah. So, you know, if you factor that in, someone who wants to come over for a long weekend, you know. Yeah. And it's right there, which Foxwood's is a little bit of a ride. Oh, yeah. That's enough for a ride. Well, you know, we had to make a trip, a plan to even go from Boston to about an hour and a half, whatever, two hours. Yeah. Right. So, Tom, I know you talked in the update, I talked, we thought we would go sideways for a while and then start the downturn on the S&P again. So here's my question. Are you more bearish on the S&P or more bullish on gold or about equal? I'm definitely bullish on gold. On the S&P, what we have here is this, right? So, what we did on Friday, right? Now, Friday was option exploration, folks, okay? Which, you know, you always have volume come in. And we had 2 billion shares in the NYSE, 2.1, okay? On the NASDAQ composite, what we had is 2.8, okay? So that's a monster number. And even though it's subtle, we did basically trade down. And like I put in my daily newsletter today, I says, okay, listen, it's a tough call because what I have found is this. If you trade down on option exploration at highs or you trade up on option exploration at highs, it doesn't matter what the sum of whatever it is, that is where the market wants to go. So in this case, I'm saying to myself, well, this is interesting, man. We trade down slightly. You get an explosion of volume. It's like, okay, is that what we're doing here, we're just testing the highs, even though this S&P is in a small ABC structure on the way up, it's a confirmed ABC up. It's like, okay, you know, if this stays at these highs for too long, you know, the high is 29.54. Well, actually, it was higher than that. It's 29.64, intraday. The high, let's see, is that a close? 29. No, so. That was a super low close, actually. Yeah, so this would be the, maybe not one. So 29.54 is the number. Yeah, that's a close up there. So if we stay here too long, then it'd be like, okay, that's a heads up there. That may be it, you know? Right now, I'm still going with the ABC up that it took out last week, because that's a confirmed ABC up. So I was like, okay, man, might build claws, blow topside, and that's what it wants to do. And it's the right time of the month to do this because we're coming into the end of the month, beginning of the month, window dressing, and July 4th. Everyone, for some reason, loves to run the market on July 4th. So, you know, we'll see what happens when it gets up there. I mean, when you take a look at the short-term rates, the long-term rates in the dollar, they all want to go lower, you know? So if that's the case, it's like, okay, they go lower. If you're a fundamentalist, you're looking at the S&P and say, okay, if they go lower, these companies can borrow more money. As they borrow more money, what comes to their bottom line, you know? Okay, so here's another question. I know that when the Dow and the S&P have had real big, big heavy swings, either up or down, you talk about energy in the market place. So we've had a couple of real good days on the upside on gold. So do you think we'll have some give-back on all that forward momentum, all that energy driving gold up? Not just yet. Have a rest or two, or we just go to rock and hide? I don't see this pulling back. What I see is that, you know, like $12 is no big deal. You can go $12, $8, $5, you know what I mean? Something like this, you know, you're talking a $1,400, you know, basically vehicle here, right? So that's kind of what I see. We went so dramatically. Like we just did last week, you didn't have to build cars for, you know, six, seven weeks, you know. That's what normally happens in order to do that. What we have, and I'd say this is one of the biggest things, and that's why you want to watch all these commodities, is that this dollar has broken its uptrend, you know? So it looks like we're going to have volume again today, and if we do, that's a whole different dynamic. You get four days in a row of selling in the dollar, and that momentum will overtake everything because the currency markets are bigger than every market in the world. You know, you've got everyone in the world, you know, either going in or out of currencies, meaning the monster central banks and things that we can't even comprehend, you know what I mean? But there's money movement there. So that's the case. How much of the dollar and gold, how much of the dollar and the gold and I guess the S&P also is segregated on what's going to happen at the end of the week between Trump and Xi and a little bit about the trade war. I think it's a good move to market greatly. I don't know about gold, but I think it could really have a very big plus or a very big minus on the S&P depending on what happens. Yeah, I agree. The S&P, listen, the S&P 500, the 500 biggest companies out there, guess what their Bloomberg did today. There's a whole breakdown. I haven't looked at the whole thing yet, but they broke down 10,000 companies, 10,000 pieces of something that companies are paying. Items, products. That are paying taffs on, right? And it's astronomical, man. So there's going to be fundamental research here that shows how much these companies are going to have to pay and have paid and that's going to make a difference because that's a P.E., so bottom line is that it is what it is. So that'll make a difference on the S&P because if they're making less money, people are going to want to pay less money. There's potential for some volatility. You better be aware for sure with that change. Well, anyway, have a great forth, guys. Please do not drink and drive. You always call, Mark. Thanks, man. Have a great one. Have a safe one. Stay right there, folks. Tommy and I are coming right back. We have the dial up 58, and as next flat, S&P's up 750. Gold's up by 1230. Silver's up 9 cents. Still catching a bid. Come right back, folks. If you're in the CD market and looking for a secure investment, the Tiger First Mortgage Program may work for you. The security for these first mortgages are building lots in the tax opportunity zone in St. Petersburg, Florida. The Tax Act of 2018 set up 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 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 of February 20th is 3.1%. A $50,000 investment at a normal four-year CD rate of 3.1% would give you income of $1,550 per year or $6,200 over the four-year period. 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The funds are designed to be utilized only by sophisticated investors such as traders and active investors. Distributor, Four Side Fund Services, LLC. Don't forget you can listen to TFNN live on your mobile device 24 hours per day. Go to TFNN.com and hit Watch Tiger TV. That's TFNN.com and hit Watch Tiger TV for the latest market information. It was up 47 Nasdaqs down five. S&Ps are up six and a half. And when we left on Friday, we were talking about Paul from Henderson, Nevada just could have a field day because of the weekend, right? Yes. Well, guess what? And what does Paul look at for those unfamiliar? Bitcoin. That's right. And look at this, folks. A lot of plenty of things. Quite a jump, man. And I thought we were under $10,900, I believe, and that's where they have that closing at $99.39. Of course, the trades over the weekend will pull up the chart in a moment, but yeah, $10,918 reaching a high of $11,251. And pulling up the chart, this is over at that crypto watch. So this is an hourly chart going over the weekend. I'm just checking that's the 22nd. Yeah. And this is the 23rd as we go. This is yesterday. I actually reached $11,369. So this is Bitfinex. And that's where you have all these different kind of places. Yes. These are trading. But yeah, nonetheless, $10,950, man. Quite a charge higher and putting this on. Let's just put it on. And in four months, I think it's gone from $3,300 to $11,000? Yeah. And I wonder why sometimes these, but either way, I mean, just going back from May 5th, they pulled it. It's almost up double from May 5th. Right. And if you want to hear something that's deviant folks, okay, this is crazy. Like when we take a look at this chart, I was just saying this to Tommy, that when the CME, you know, bottom line, they start trading it on the CME, that was the high. So when first time futures kind of became available. Right. That was the high, $19,511. And then really close to the low is that that's when the CBOE decided to can the contracts. Yeah. And they're not available on Nadex anymore. Right. So there was kind of a triggering effect. As in you could have derivatives based on futures. Right. In some degree, and obviously you can't have them if the futures aren't trading. Yeah. And that might not be a coincidence. That's it. Yeah. You're taking the ability to short off of the table. That's what everyone kept saying when it was a $20,000. Like, oh, you're going to have a chance to short it now. Okay. Well, you're giving the chance to short it. It goes from $20,000 to $3,000. The markets are not liquid anymore. We're going to do way of futures. You won't have this very easy short function anymore. We're back up to $11,000. Oh, yeah. But you also have the Facebook crypto out there. Oh, yeah. Some legitimacy. So there's been some good news. Good press. Yeah. So canopy growth. We take a look at canopy. We have out here folks. This has been a huge consolidation. And if you're watching Tiger TV right now, I'll show you the bottom. It's certainly not where we are. We're down to doll 30 right now. You're coming into a swing point of 38, 38, and it's going to have the volume. We're at 38, 83, but we hit 38, 44. This is going to break it with volume. So I suspect we're going to ABC down. And it looks to me like you're going to get down into this probably 29 area. Now, this is pretty wild. I was going over this Friday. So they came out with their numbers. But when you see this, you know, the CEO, let's see here, they're only, let me see, they're, yeah, it's the margins. They're at a 16% margin. Now, they're, the number of the spread has gone down dramatically as to what they're going to make. Sees gross margin approving. Well, let me see if I can find the actual one with the CEO come up. Maybe just to say, let's do it there. We're going to go one down. That's going to get us pretty close. And I already brought it up. So, well, that's the, yeah. Unfortunately, it's probably a different one versus, because this is back to Friday, which is 621. We're down, maybe. Okay. We can find it during the next break. Maybe. So what, what, what, what had happened, here it is, right? There you go. Yeah. So here you go. So cannabis shares fell the most since December after the world's largest cannabis company reported steep and then expected loss and weak gross margin. When you see this gross margin. Yeah. It's right there in that third paragraph. I think. Yeah. Right there. Yep. Right. So the Smith Falls Ontario based company reported a just gross margin of 16% for the fiscal fourth quarter. Yeah. Ended in March 31st. That was below consensus analyst estimate of 24 and a decline from 22 in the prior quarter. It's lost before interest tax depreciation, amortization, EBITDA, 74 million US loss. Yeah. Much wider than the expected. So it was Canadian 64. They lost 98. At the end of 2017, can it be had 600,000 square feet of licensed growing space and a gross margin above 50%? Yeah. Quite a number, man. And what I was getting into there is that this is a commodity, folks. And, you know, the, the CEO's claiming that here. So the, uh, Litton's, now Litton is the CEO. I tell you before you, because I think they started right here too. This is where we could have stayed there and we would have been a nice, tidy little company, probably quite profitable. But, um, when it attracted $4 billion investment, you need to use that capital build scale, and we did. So, I mean, that's, that's a valid argument. But the problem here is why didn't analysts understand that? That's what I always, why, so why was the expectation not there? That's, that's where there's obviously a problem in terms of, so can it be expect production and more than double to 34,000 kilograms in the current quarter? Uh, yeah, this, the, this is, as you're saying, that they, the fourth quarter represented the bottom of our margin trough. Um, and gross, gross margins are expected to rise above 40% by the end of fiscal 2020, which runs until March 31st. Now, read the next one, though. Watch this. So, Canopy should also report positive EBITDA from its Canadian operations by the end of fiscal 2021, according to the CFL, Mike Lee. However, Lee also forecast a material that lost in the current quarter due to non-cash charges for stock compensation and the rising price of Canopy's convertible bonds. Right. So, this is, you know, my take on this business, folks, okay, it's going to be great business. No doubt about that. And then they compare themselves to Amazon, Amazon at the end. Which you can't. No, no. But just a commodity business. In a commodity business, okay, the margins are smaller. They're in the growth business, man. You know, you're growing weeds. And, you know, it's going to be tough. It's kind of a merge of the two, in my opinion, as in, you know, it's a commodity business, but it's also, I think, of the Wild West in terms of alcohol becoming legal in terms of there should be huge expenses on capital expenditure for these companies. Because if you have a shot of being one of the few that emerge, as Canopy obviously does, you better just keep expanding, because if you're not going to, somebody else is going to. Yeah. No, there's no doubt about that. That's what I mean. I do agree in the sense that I wouldn't even really want to see them making money. You know, why you put that money back into more stores or as the, you know what I'm saying, as in to be profitable, they'd be great. But as you said, they just got billions in investment. That money, they should be growing, man. It seems like that industry is just ripe for expansion like we haven't seen since alcohol became legal. Really? I mean, that's, you know, it's... I guess, though, the differential I'd see between alcohol and weed, like we don't have it around here, but if they're in California, which is legal, right, residential, recreational, and in Colorado, it's like people can grow their own, too. It's not like you can open up a store immediately. No, not always. State by state, they allow different, some states, some states put the clamp down, man. They make you go into the store. Other states, I know Massachusetts, you are allowed to grow. But that's not true in all states, actually. And that's where they could spend that money on that lobbying. I'm just going from a business. Oh, yeah. I wouldn't agree at all with that. Oh, no, but they're going to. Yeah, that's right. But they don't want that. So that's why you like banking money. But guess what? They're banking money, so they don't have to go to investors, so they keep kin. You know, it's one on the other. Wow. Yeah. Dow. Dow industry is up 43. Nasdaq. Flack. Down four, actually. S&P's up six and a half. There, there folks. Tommy and I come right back. It's the best of the best at everything you do in life. It's the most common trade that we tigers and tigers share. If you're looking to become the best of the best when it comes to managing your money, let me teach you to do what most wealth managers tell you can't be done, which is how to time the markets. I'm Steve Rhodes, author of Mastering Probability. And for the last 12 months, Timer Digest has been tracking my newsletter signals, which have earned me the ranking as their number one market timer in the nation for the S&P 500 for the last 12, six, and three months. Timer Digest also ranks me as the number one market timer for gold as well. The fact is, markets can be timed. And I'll teach you the exact set of tools that I use that has transformed me into one of the best at what I do. 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For more information, just click the Think or Swim banner on the front page of tfnn.com. Back, folks, and if we just go back over to the canopy as to the top and the bottom of the consolidation, I would wait, right? You know, we got a couple of tigers asking, you know, I think this thing's going to, you know, go right back into its strength. I was not asking where the buy would be, right? Yes, you know, coming all the way down to the $28. You know, so we'll see how it breaks. It's going to go after this swing low out here. Well, for, yeah, $38.38 is the swing low. And you can see last week you moved down with some volume, $26.7 million. And if you break that, then, you know, your probability gets pretty good that you get to $28. We're only $2 into that bar right now. It'd be tough to get that volume with earnings being in that volume bar. Yeah. You know, to beat that volume. Right. And that's a big bar. Right. Because just like what we talked about, you get a surprise on margins to the downside like that. Right. And they're all set up like this, too, by the way. I did, I booked at these on Friday, so you'll see that, you know, the sum, of course, that is stronger than others, but we, Aurora, ACB, I'll do this in the U.S. So that's at $722. They had some volume last week, too. Yeah. That's, what was that, $713 with $18 million, $16 million. Yeah. You know, so we'll bring this back and you're going to see, kind of set up the same way that the bottom of that one is $483. Sure. Right. T-L-R-Y. Oh, wait, you see this. T-L-R-Y. Oh, my God. We haven't looked at this facility. You're not going to believe what happened with this thing. Oh, I think I might believe it. This is something else. You better believe it because anything's possible in these things. Seriously, because look what it went down to. It went down, it went $300 to $34. $334. That's just amazing. Yeah. Be careful out there trading these things. Yeah. Trading companies with no earnings. Yeah. Does that go to $21? Stay right there, folks. We've got TD Ameritrade coming up. I'm having thousands of shout-outs. Steve Rhodes, Dave White. Be back this afternoon. Thanks, man. Thanks, man. Well, go get them, folks.