 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 comedy live from TFNN Thursday morning 9 o'clock 6 a.m. We got about 24 minutes to go until the start of trading and guess what folks we got positive prices yet again Quite a buy of the dip whether it was Monday's action that we saw the acceleration of 42 93 Tuesday we saw action as well putting this on a 15 minute chart. We'll jump right into it on the S&P's You're talking about a price level Tuesday afternoon. I guess we'll call it 8 p.m. Eastern time We're trading at 43 20. You just traded up a hundred points from Tuesday afternoon folks We got a lot of hundred point moves in here You had a hundred point move from the lows of Monday to the overnight action on Tuesday Then you trade down from 43 96 about 75 points to the lows at 8 p.m Tuesday evening and since then when you climb up a hundred points quite an acceleration yesterday You saw some volatility at the 2 p.m. Announcement the volatility continued on the 2 30 p.m. Press conference We end the day higher and nonetheless we charge higher overnight as well You see the accelerations we got whether it was about 2 30 in the morning got another acceleration at 3 30 We make highs in the markets at about 5 a.m. Eastern time and a little bit of negative action in the last few minutes We're trading right at 4400 on the dot. We're up about a third of a percent the S&P's Nasdaq 100 a little bit of sell-off in the last 15 30 minutes or so. We make it to 15 3100 you're talking about 500 points from the lows we had on Tuesday You're currently up about a tenth of percent. You get the Dow up more than half a percent right now 34,000 310 in the Russell positive by 11 points this morning trading at 22 26 Bitcoins has a volatility we almost make it to 40,000 earlier in the week. We're trading at 43,000 450 You got crude hanging tough. Look at that acceleration crude up to 72 50 overnight. We're trading at 72 28 We were just trading at 69 39 on Tuesday. You're talking about almost a three dollar move to the upside on crude Now you take a look at crude on the daily You're talking about the higher boundary line of about 75 dollars is where we were early in July for highs in that crude contract Back to the short-term charts. We got gold selling off today gold's off $23 right now. You see the volatility on the Fed announcement yesterday gold trading from 17 75 Just at 8 15 this morning quite an acceleration over the last hour to the downside on gold down $20 from that price point Silver right now down 34 cents at 22 56 and we jumped to notes and bonds We're getting a little bit of a lower price and higher yield. You got the 10 year right now We're coming down to right where we were last Friday be an interesting area. We take a look at it on the daily You see the move that we're at Again kind of matching up to where we were last Friday, but man you keep accelerating lower It seems like the lower boundary line in that consolidation areas at about 130 120 That's a full point lower than from where we're trading at right now You don't have to go back that far on the 10 year just August 4th You're going back about six or seven weeks. You were at a price point of 135 14 folks That's almost three full points that we've given up in the 10 year when you talk about where we are On that yield and that's correlating the 10-year yield correlating right now to 1.37 percent It's we're getting some rising yields be interesting to see how that hits all the markets today Especially the NASDAQ 100 the weakest of the indices so far as you're up about two tenths of percent You got the S&P's up four tenths the Dow up six tenths right now in the Russell up six tenths as well So maybe those higher yields gonna weigh on some of those fang stocks as we look for the open this morning All right What else we have in terms of economic data this morning? We got weekly jobless claims that number coming in a little bit hot then what we were looking for 351,000 initial unemployment claims for state programs That's the week ended September 18th the median estimate was looking for 320 on that chart A little bit of an uptick, but when you talk about where we are in terms of 30,000 jobs Not a big miss on that number at all continuing claims increased to 2.8 million for the week ended September 11th Continuing claims remember one week delayed versus initial unemployment claims And yes, so that number out at 8 30 this morning California saw claims rise by 24,000 Virginia saw an increase of 12,000 by far the biggest increase last week Louisiana So the biggest decrease as the state recovers from Hurricane Ida a lot of influences and variables going on there in a big way Jumping over to the Fed. So Chairman Powell yesterday a little bit of volatility in both directions. Nothing too surprising here tapering may begin at their next meeting, which is going to be in early November November 2nd and 3rd Let's get it up on the calendar here. There's October Yeah, November 2nd and 3rd first week of November. You got a meeting on Tuesday and Wednesday to kick off November trading And they talk about so this is the bond and asset purchases I'm sure we're all listening to it yesterday, but it'll be interesting to see how the anticipation comes into November How the market reacts once they actually do start tapering and it's gonna probably be a gradual process That will take them through the middle of 2022. There's your process November and complete the process by mid 2022 Powell explaining the US central bank's first steps toward Excuse me one second Toward withdrawing emergency pandemic support for the economy told reporters Wednesday that tapering could come as soon as the next Meeting now we have tapering that's gonna be happening It's gonna be happening from November through the middle of 2022. You might see about an eight month schedule The market had talked about that we had might have seen that schedule come out on this meeting that we just had so not quite To accelerate it as in that was one possible outcome yesterday is that they would have actually given you that schedule now They potentially may give us that schedule in November Although there's the caveat He left the door open to waiting longer if needed and stress that tapering was not meant to start a countdown to lift off From zero interest rates He's trying to Separate the two the timing and the pace of the coming reduction in asset purchases will not be intended to carry a direct signal regarding the timing of interest rate lift off always interesting trying to dissect What the Fed is trying to do there? Is that a message from the markets to calm them as they try and raise interest rates in the coming year or two? Or is that just the straight-out truth that they are two separate actions that are not Intertwined in any way and do not take the fact that they are going to be tapering their bond and asset purchases As a signal that interest rate lift off will be coming. That's the message that he's putting out there Said he didn't expect the Fed to begin rate increases until after completing the tape taper process Which would wrap up sometime around the middle of next year so What you get out of that is they're not going to be happening at the same time probably okay? That's what he's putting there It's a bit faster than the last cycle. That's TD securities chief US macro strategist Jim O'Sullivan saying he was very clear in the press conference that soon Means November So look for that schedule in November look for it to begin look for interest rates to stay where they are at least Well that tapering Proceeds the Fed took 10 months to complete the exercise of scaling back bond buying back in 2014 10 months would bring us eight months into the middle of 2022 the middle of 2022 obviously has some wiggle room But if you actually pin it right to the middle then you're talking about potentially an eight month taper process in there for the Fed when you Look at the dot plots a slight adjustment that could point to Potentially raising the Fed funds rate as soon as next year according to the median estimates of FOMC Participants in June the median projection indicated no increases in 2023 so a slight uptick there, but man 2023 folks we got a long way to go They're gonna have a lot more economic data that's gonna be shaping those decisions by that time much more so than we have right now Stay tuned folks. We'll come right back talking to our man Kevin Hanks from TD Ameritrade fast market We'll be right back golden ratios to shape to everything in our world Represented in the Fibonacci sequence these special numbers to find the patterns that make up our universe Not even markets can escape the omnipotence of these ratios Larry Pezzavento is a 45-year market veteran who has published nearly a dozen books on the powerful patterns We find in nature and their relationships with the ever elusive markets Larry's newsletter Fibonacci 24-7 will teach you to harness the power of these natural golden ratios in order to create successful trades Fibonacci 24-7 is designed to teach the tools you need to identify and act on these undeniable and reoccurring patterns Sign up for Larry's newsletter Fibonacci 24-7 and you will also receive free access to his trading webinar trading strong trending markets Try out Larry's newsletter risk-free all of TFNN's newsletters come with a 30-day money-back guarantee TFNN educating investors What's separating you from the most successful men and women on Wall Street? 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We have the S&P is positive by 16 points right now We have the DAO up 190 the NASDAQ 100 up 33 all the markets in positive territory as we kick off Thursday trading Let's jump over to our man Kevin Hinks every trading day folks fast market at 11 a.m. Eastern time Kevin Hinks Alex coffee the team at TD Ameritrade Network Breaking down the day's market action walking you through hypothetical trade setups trade management rolling defined risk Kevin Hinks. Good morning Good morning, Tommy O'Brien. You know, this is an interesting day. We have sitting up here today at least to start at least as we Start the day it is certainly risk on you've got the dollar down You've got bonds and notes down you've got gold Actually down along with the dollar you got the VIX down you got Bitcoin slightly higher So far the this market looks pretty firm Tommy. I'm watching for the 4413 level on the E-mini that is last Friday's close Tommy That'll wipe out the whole week of losses if we get back to 44 13 We've already been there this morning, but backing off a little bit here pre-opening It is remarkable Kevin. I just put up here to stretch back some of the chart I got an hourly chart, but I just want to kind of go to back It's it's great. You brought it up man to the volatility. We've had since kind of the end of last week You saw that huge acceleration on Friday really Monday Upside Kevin in the S&P's if you count the lows of Monday 42 93 we make it to a price It's a point of 43 95 by Tuesday at four in the morning you trade back down to about 43 20 and Just in the good session another hundred point run from late Tuesday call at 9 p.m. Eastern time the lows after market These are some big bids them some big dip buy-in as they would say we're sitting at 4400 pretty remarkable That you could wipe out the entire run we had for Monday's trading when it looked like Markets were gonna fall out of bed and never catch a bid again Kevin as we know that's not the case always Well, I mean You know the problems in China seem to be dissipating. They're not out of the wood yet, but they seem to be Coming off the catastrophic levels that were rumored on Monday and Jerome Powell did his normal calming of the markets and Portraying the best possible version of the market. He talked about tapering. He talked about it's coming soon He talked about it will probably be done by mid next year But he's not ready to start doing yet till he sees the resolution of the semi-conductor problem And the resolution of the 10.9 million open jobs and the seven and a half million People coming back off of enhanced benefit So I think he needs to see a little more resolution before he's willing to start Taking his foot off the gas pedal now Tommy I think Jerome Powell is a pretty good student of history and what do I mean by that is? The two mistakes that were made in previous Economic downturns was not enough liquidity at the beginning. He's done that right? There was plenty of liquidity in the market when when this pandemic started and then the other big mistake is at the end Cutting it off too early right raising interest rates cutting off the expansion too early And that's what I think he's focused on not doing right now Tommy. I Would agree man, and it's pretty cool how they talk about they're gonna taper the bond bond purchases at asset purchases I think he said he doesn't really want them to coincide with any type of rise in interest rates So right away you're probably gonna push that back and everything's in flux But you're probably gonna push that back like you said to at least the middle of 2022 if that's where they go With the bond and the asset purchases So then we're pushing back almost a full year Kevin where it's even gonna be discussed where interest rates rise and it's so remarkable in terms of trying to make a decision off of where the economy and the jobs and Everything we talk about when we talk to you at 9 15 in the morning man in terms of there's so much up in the air Kevin aware will be at that time that to even say at a minimum is kind of how I look at it right now if chairman Powell's still gonna be chairman which indications look like he will it seems like they're gonna be stuck there in terms of low interest rates at least until that time and then It's up to where we are then and it's like man if if we're still struggling then they're gonna have the ammunition I think to keep him pretty low It just seems like they're gonna be low for a while man, and that's what I'm that's what I got and it seems like that's what The market's getting out here as well Well, I mean certainly that his rhetoric says that he's not gonna cut this rally off early You know he is he is you know, he doesn't mind They've been trying if you think about it Tommy the Fed has been trying to get inflation to 2% or above for how many years? That they failed he's got it up there now, and he's He's committed to let it stay or settle up at or near 2% Going forward. So, you know no matter how it got there He's trying to keep it so this market stays at a good level of growth, and I think that is what he doesn't want to You know put in peril as this market Unleashes because you're gonna have a lot of things Like you know a lot of the headlines are all these ships out in the ports of Miami ports of Long Beach in Los Angeles Well if a lot of workers start coming back into these jobs that should that bottleneck should release a bunch of goods on the market a bunch of supplies and then All the all the labor shortages well if all these people come back to the labor force That's gonna be a good thing if we start getting chips that I'm sure they've been manufacturing over the last several months That should flood chips and cars and autos back into the market. So I just think there's a big Unleashing unwinding of all these bottleneck problems that are hopefully in our near future Tommy Yeah, and it seems like eventually they'll work their way out It's probably a question of like how long that takes not if it happens and it's persisted a little bit longer than some have talked about I mean those chips I saw something about today that car companies might miss out on Two hundred and something billion dollars in sales for the chip problem that they're having some staggering numbers out there man So we got markets in positive territory Kevin go pulling back as you said we got a weekly jobless Initial jobless claims number today Pretty close to in line 350,000 we got some misses of 30,000 or so but that number seems to have settled in between about three to four hundred thousand right now We got some earnings going on Darden was out with their numbers strong numbers Darden trading higher today as they proceed to Just deliver in a big way up to 157. What are you guys going to be talking about on the program coming up at 11 o'clock today, Kevin? We're getting to the end of earnings Tommy and you know what signals it Nike Nike and Costco after the bell today that signals really the unofficial end of earnings season So we'll trade Nike will trade Costco and off we go Tommy You know Nike that's quite a story my dad's been talking about Nike a lot this pullback Nike's had man from 174 We were just touching. What was that low? We had a couple days ago 152 Yeah, 152 32 little bit of a bounce up to 157 and Costco really interesting I'm a Sam's member Kevin pretty close But man this run that Costco has had from 307 in March to 469 just recently we're trading in 452 Remarkable has the world has changed and some of those companies have greatly benefited from the trends that we have changed in our personal lives I love stocking up now, man I've said to people there's no reason that you don't have you know water Kevin That was the one that compounded me the most we're in Florida, right? We're dealing with hurricane season right now One thing I said is you know people should have water stocked up man All that stuff that kind of happened in the in the beginning of the pandemic it kind of showed everybody say hey We take for granted a lot in our life man And so people stocking up in a big way and I imagine that's a trend that's going to continue to some degree Well Kevin we look forward to the show as always man. We'll be listening at 11 o'clock today We appreciate the conversation and the education as always man. You have a great one Thanks for having me on Tommy. Have a great day My pleasure Kevin take care folks tune in every trading day at 11 o'clock you heard it They're gonna be talking Nike and Costco for their earnings today. We'll be right back Are you having fun trading the markets? 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There's your Russell talk about a consolidation talk about well-defined We're going back to February of this year folks the Russell's been chopping around between about 2100 and 2350 Somewhat near the middle of that range right now You take a look at the DAO dipping below that trend line far below it now We're 34,000 370 about 1200 points away from the all-time highs S&Ps. Whoops. Excuse me There's my S&Ps trading at 4405 now. I'm gonna put this on a 30 minute 10 day to see the run that Kevin was talking about now It would be really remarkable folks if you got it all back to Friday Just getting back the action from where we were at the Friday close, right? Would be quite an achievement when you look at the devastation that we had going on on Monday I mean taking a look at the Nasdaq folks you had the cues. I mean, let's take a look at the cues for a second All right, you had the cues down $12 from Friday's close and we just got it all back almost you did get it back Basically on the pre-market when the cues hit a high of one, excuse me 372 26 right now trading 371 remarkable how some of those growth companies move as the multiples of that growth is Kind of recalculated sometimes as the market It's a little volatile jump it over to the VIX right now under 20 yet again VIX and it's remarkable I remember talking to Kevin Hicks. They was Monday. Excuse me Tuesday after the Monday devastation VIX is at 28 79 You know I'm saying to Kevin Hicks. How do you trade an option environment when you have volatility that high yet? You have markets moving that dramatically Well, guess what folks it did not last if you were selling volatility premium Especially if you were selling it with a bullish bias in the market man talk about a pullback pretty quickly from 25 on the VIX on Tuesday morning It's Thursday morning not even 48 hours later or back under 20 at 19 62 in that VIX. All right Let's jump around some of the stories I got up here I talked about it with Kevin Hicks Worsening chip woes to cost automakers 210 billion dollars in sales there you go the cost of Intractable semiconductor shortage has ballooned by more than 90% pushing the total hit to 21 revenue folks. That's this year's revenue for the world's order automakers to almost a quarter Trillion dollars. It's almost difficult to grasp the amount of Impact in the auto industry. That's the latest dire forecast from alex partners which predicts global automakers will build 7.7 million fewer vehicles due to the chip crisis That's almost double what they were looking for on their previous estimate in terms of missing out on 3.9 million vehicles They're now up to almost 8 million fewer vehicles as a result of that chip crisis despite ongoing efforts to shore up the supply chain Semiconductor availability has worsened as automakers exhaust stockpiles and other industries have no none to spare Yeah, the barrel is empty. There's nothing left to scrape. That's how they're putting it Just staggering numbers at the top end there when you're talking about 210 billion dollars As inventory on the dealer's lots has dwindled car prices have skyrocketed. You're talking about how about 43,300 in the US in August. That's a record Supply is so constrained some dealers have resorted to renting cars. So they have something to display in their showrooms This can take some time to sort out folks This is the third estimate that they they've issued this year on the financial impact of the shortage It began in January saying it's going to be 61 billion They lifted that in May to 110 billion and now they've doubled it again. So look at that. I mean in January They had 61 billion. Okay, they doubled that estimate almost in May double would have been 120 They come in at 110 and they doubled it almost again now up to 210 from 110 They can't guarantee them won't be further upward adjustments to the forecast given the myriad of uncertainties Well, that's just plain English, of course but man watch out in that chip sector because you know It's tough to play catch up when everybody wants so many chips that you can barely supply what you have going on let alone Catching up to demand that is sitting there waiting to be caught up to all right jumping over to buy in the dip JP Morgan they're talking about flows show the buy the dip mantra is at risk Blast from me out there folks. My goodness buying the dip is at risk. Don't tell me that I kid But some of the numbers they talk about in here. So how about on Monday? I believe that's gonna be Monday the 20th Correct. Yes, it is Monday 11 billion dollars from equity ETFs exchange traded funds you had an 11 billion dollar outflow of equity exchange traded funds on September 20th. That's the biggest on A down day this year outside of quarterly options and futures expiration They put rather concerning is the quote there because it's inconsistent with the buy the dip behavior that tell propeller equities Hire from months JP Morgan strategist. Jeez. What's can I can I nail that name? I don't think so Nicholas panna? Jeez, I'm not even gonna try that's a tough one. I'll have to look that one up for that gentleman Observing flows for signs that this change in behavior would prove more persistent is important in the coming days Adding that an inflow on September 21st of two billion was rather muted So you get 11 billion pulled out on Monday. You do have Dip buying but you're only getting a two billion edition on the 21st now taking a look at the 21st Okay, there is the 21st on Tuesday Not really a huge dip buying effort there. I mean the dip buying really accelerated kind of Tuesday night Yes, you got the acceleration into the close. I mean look at Monday's action, right? It really started about three o'clock that you got some buying kind of saved itself there It doesn't look like much on this chart folks, but man, you're talking about a three o'clock. You had a low at 42 94 and By the time we came into the close you were trading at almost 43 50 That's almost a 60 point pop in the S&P to end Monday action and then really the run begins like I said We've had two 100 point runs folks in this market So you got the 100 point run from Monday to the highs of Monday You have another hundred point run from the highs Excuse me the lows of Tuesday to the high we just had pre-market right now You all the markets catching a little bit of a bid with the S&P's up 28 points right now remarkable action in a big way All right, let's jump down to some of the stocks that are moving with their own news this morning We talked about Darden restaurants they beat on earnings a buck 76 versus a buck 64 same-store sales And I don't like same-store sales or is a year ago because it's not really fair 47.5% nonetheless Darden though trading higher in a big way up 7.5% on that stock and take a look at that weekly folks It has been a rocket ship since the bottom of $26 and COVID you came into 2020 at a price point of 110 and there's a nice weekly acceleration. I believe that's gonna be is that all-time highs I think it is there you go. We're talking about all-time highs and Darden restaurants there and they do Have seasons 52 Kind of like a healthy menu of food yet a high-end restaurant They serve wine they have a nice atmosphere yet. They've tailored the menu to healthy eating I remember the first time I saw one of those restaurants in Tampa. I said, this is a brilliant concept You know, you have high-end dining with the focus on healthy eating at first season 52 There I think every meal they did was 475 calories or less and I remember sitting at the bar talking to the bartender said How do they do this man because some of those meals consist of a filet with mashed potatoes and veggies? Well, the key was folks no milk and no cream. That was how they did it Still delicious food if you ever get a chance to check it out in a big way All right, we'll go jump down the line folks. We got other stocks moving this morning. We got sales force trade and hire We're gonna take a look at some of those equities when we get back We got the markets accelerating higher as well as some keys up 33 points. See you folks up here right back Are you in the market for buying or selling real estate in the Bay Area? 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We're pushing the highs of pre-market at 44 22 right now Let's jump around to some of the equities that are moving today. You have sales for us I believe they got an upgrade today. They're up 4.2 percent No, no, excuse me. They revised their outlook. Let me get this up to do raise their full year 2022 revenue guidance Higher than the company's previous estimates So raising their guidance for sales force. They are higher. Oh, Roku was the one that received an upgrade They are higher as well Roku right now Trading up 3.3 percent as well at 335 and I'm gonna jump over to a Bloomberg opinion piece Okay, it's an opinion piece folks, but I tend to agree with it and it's written by an O'Brien So why not Timothy O'Brien not familiar? Disney built a new Magic Kingdom in sports betting the company may be wagering that the line between football and gambling will inevitably be a race That's already happening folks. It's done Disney's gonna be there They're one of the reasons why I'm a Disney bull as well You have the strongest sports brand in the world in ESPN probably imagine when you have an ESPN Sports betting app that has all of the content. You're able to bet in it. The lines are shown That's where the future is going folks It is Florida's trying to pass sports betting right now the amount of money that the states are able to get from that happening And it's a long time coming folks if you want to bet on sports There's bookies that have been everywhere man. We're from from Boston. You want to talk about bookies in Boston? So it makes sense they legalize it they regulate it and the states make the money from it All they've talked about so far was potentially maybe licensing the deals They've currently already done it but one of the things that they said yesterday or this week when you had the CEO out there of Disney Bob Chappick he talked about that There were gonna be some woes that they had to proceed with in terms of not quite the growth They were looking for this quarter on Disney plus But one of the things they said is that they're ready really to step into The gambling side of things and the potential over there is endless folks I mean taking a look at some of these companies that have been in gambling You want to take a look at some some rises and falls in terms of the volatility potential pen national They're the ones that own barstool sports as well You start off 2020 at about $22 your rise to 142 market got a little bit ahead of itself in a big way You're back to 75 but some of these companies folks in a big way and the MGM has their gambling going in a big way They have a lot more going than that of course But trading higher as well and the other one I want to talk about real quick is canopy growth Now some of these cannabis stocks Maybe this is where we start to catch a bid looks like nothing on this chart because man It's been a max pain situation Reddit got involved early in the year pushed this thing up to 5650 remarkable We give it all back folks from the run we had in October. You have a low there this a weekly of 1410 Okay, the weekly we're just dealing with right now is 1335. We're back at 1472 the last couple days We finally caught a little bit of a bid all right look at yesterday's action We're training 1360 today. We're up another 4% put that on your radar folks If you're looking for long term might be a nice area to step into that Not often that you get the type of opportunity to get it all back in terms of the run we've had now That's a three-year weekly. Let's go back five years. I mean look at this We're almost going back to two full runs right remarkable Let alone almost three full runs in some of these stocks But nonetheless you give it all back We're right back out to this breakout area folks that we had from October of last year It'd be interesting to see if we trade even below that Doesn't make a lot of sense to trade to the COVID lows of $9 on this equity But man, we are close but we're seeing a little bit of strength for the first time in some of those cannabis equities Right out of the gate yesterday in a big way trading higher and trading higher extending those gains today up 4.3 percent for canopy all right jumping around to some of the other stocks that we talk about moving We talked about Salesforce. We talked about Roku and Darden blackberry out with their numbers a Better than expected. Let's see how they're trading blackberry good old blackberry trying to reinvent themselves. There you go They're up 10% today take a look at this chart on a daily Yeah, be careful of this one right talk about some some accelerations and some give backs This is just going back a year folks early in the air. You spike to 28 77 later in the year You spike to 20 now we've had some reddit runs in here always possible. You're up a 10% today on their numbers But man, they have a long way to go to kind of rejuvenate that company Report a loss of six cents a share market was looking for a loss of seven cents revenue 175 million market was looking for 164 million They got a long way to go as I said now speaking of giving it all back. I'm gonna jump down to Biogen real quick I was looking at this earlier. Okay, be IIB Biogen I'm gonna put this on a three-year weekly to see the run now Biogen gets an upgrade today. Let's see Let's see the stock rose no need of initiated coverage of the stock with a buy rating second to note to clients that the company's controversial Alzheimer's drug Will be a big seller for the company in the long term There's been controversy surrounding this drug to say the least But which is what is remarkable is you've given it almost all back from when they got that ruling approving it You ended the week prior at 291 About you at a high of 291 And just like that we're trading at 296 obviously 468 probably not a fair price. We put it on a daily But man, this thing was above 400 for a week or two before you really started to give it up We've seen another give up so they got an upgrade if you look in long term that may be an avenue, uh, you know can't Can't argue with getting a price under 300 after this thing as skyrocket Especially when you look at this chart because 300 on this chart seems pretty fair Concerned to some of the volatility that we've seen all revolving around this drug in particular Man, this market it just does not stop folks We got to jump back to the s&p's because we are getting it all back just like that Markets above the pre-market high and just like that folks forget Monday ever happened because we've gotten it all back by Thursday at 949 in the morning This market is relentless is the term. Look at the dial getting it all back dial 34,532 You're up more than a thousand points from the lows of Monday NASDAQ 15,268 Let's take a look at some of the commodities as gold trading lower down 26 dollars right now We'll jump to notes and bonds kind of hanging out where we started the show the 10 year negative by about 10 ticks right now All right, let's jump down the line to some of the other companies We got uh, I wanted to talk about kb homes. They were trading higher in the pre-market Let's see if they're holding on to those gains. They'd quarter the earnings of buck 60 on revenue of 1.47 million The market was looking for a buck 62 on revenue of 1.57 Interesting. They were trading lower higher though pre-market on both of those and there it is trading up three percent So they got more going on Then their numbers there's the acceleration on kind of a miss But maybe they got some outlook in there as kb homes trading higher this morning up about three percent on their numbers last night And let's jump around to some of the stocks that I like out there. Disney speaking of up 1.2 percent They fall out of bed on tuesday on the announcement from their ceo that their numbers coming up Excuse me folks, uh, I'm gonna miss kind of on subscriber growth in and what they're looking for But disney back to 175 77 right now Excuse me grab a little water We'll jump to uber which had quite an acceleration to the upside on tuesday and uber up another percent today With the market on their numbers. All right, folks. We got the s and p up 45 stay tuned I'll be right back in three minutes as we look to finish up the show. Stay tuned folks. 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That's 877-518-9190 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 and talk about strength in the market. We are the s and p's up 1.1 percent right now Folks, you're up 46 points trending at 44 29 You are 137 points above the lows that we had on Monday You get the nasdaq 100 charging higher as well up 8 tenths percent You could say the nasdaq is lagging even up 8 tenths percent the dow is up 1.2 percent right now The russell up more than a full percent as well Let's jump over the vixx as we get a positive market the vixx now under 19 We're at 1878. We give it all back from friday's action man If you're trading that vixx and you're fortunate to get any of these runs that we got like we got on monday folks Or even like we got on fright. Excuse me on friday You got to be willing to take money off the table and some of those trades because the vixx just gives it up Just like that no matter how high it goes You take a look at the vixx on a weekly Let's put it back on a five-year daily and just zoom in on the action We've had some of those highs those spikes do not last long But man this one really gave it back quickly back to 18 79 on the volatility index We'll jump to some of the commodities gold continue in the slide to negative prices right now with gold 1751 the lows of sunday night 1742 on that gold contract and we're talking about a yield right now Correlating to 1.37 percent over in europe right now Positive prices the dax up a percent cap roll up 1.1 over in asia Nikkei down two thirds percent shanghai up four tenths Hang saying up 1.2 percent right now. Let's jump around to some of the fang stocks as we wrap it up You get amazon Up four ten percent so far apple shares Up four tenths percent as well microsoft shares jumping around up about two tenths percent And we'll jump to tesla as we finish up the program with tesla shares Catching a bid up about a third of percent as well All right, folks should be an interesting day in the market. Stay tuned. We got to replay this hour But it's basil. He did his program live folks at 8 a.m. This morning So you're going to see him coming up right now at 10 o'clock Of course, we got fast market at 11 o'clock. They're going to be talking about nike They're going to be talking about cosco. Nike's up 1.7 percent ahead of their numbers this morning cosco Up about two thirds percent nike. Let's take a look real quick as we wrap up the program nike looking for about a $9 move Expected on their numbers Thanks so much for starting your day with me folks s and p's up 49 stay tuned We got basil up next live programming coming up after that. Have a great thursday everybody