 The following is a presentation of TFNN, big market kickoff with your host, Tommy O'Brien. Good morning everybody. I'm Tommy O'Brien, comedy live from TFNN, 8.30 a.m. Wednesday morning, 60 minutes to go until that opening bell and we have markets charging higher yet again. Dow futures right now, 345 points, that's 1.4% of the green, trading 25,347, S&P futures, 33% positive, 1.1%, trading at 3,027, we're now almost a full percent above that 3,000 mark. Nasdaq futures up 32 points, lagging a bit, that's about a 30%, trading at 94.39, we've got crude oil backing off a bit down about 50 cents at 33.85, the 10-year yield ticking up 0.72% and the gold contract trading lower off about $20 at 17.08. Let's start things off, we'll jump over to the charts, we'll start off with the S&P and why not, let's start off with the headline of the day, the EU. So they unveil a plan to borrow 750 billion euros to aid economic recovery, that's 750 billion euros, that's about 823 to 826 billion US dollars, that's gonna come in the form of grants and loans to stimulate the EU and that is dependent in terms of which country, Italy and Spain probably receiving the most of that as they the hardest to hit. So that news really driving markets higher with that in mind, let's jump through the indices. There's your S&P, we back it up to where we were last night, you see the sell off towards the end of the day yesterday, S&P's at about 2,990 at that time, currently sitting 3,027 just off the highs, we made it about 6 a.m. Nasdaq 100, little bit of a lagger, check it out from 6 a.m. We've traded down from a high of 9,507, we're down to 9,432, you back it up, there's your close yesterday, so we're just a tad higher, we were down at about just 9,400, 9,420 somewhere in that range, Dow 30 trading higher, 25,357, Boeing, I want to story up for them, they have layoffs coming, why not we'll jump into it as we jump around, Boeing is set to announce significant US job cuts this week, that is the union, that's story breaking, so Boeing shares trading higher on that, driving the Dow accordingly. On the heels of the EU stimulus, you have the Euro trading higher against the dollar, trades above 110, right around that level now at 110.15, there's your gold contract pulling back, gold been sliding a bit, had quite a run for gold, currently trading at 16.91 now, and crude oil just under $34 at $33.92. The other headline out there, internationally, Hong Kong police overwhelmed protesters now crying independence, that playing out overnight in terms of for us over in Hong Kong, keep your eye on that as that could throw some volatility into things with China, Hong Kong, and so forth. Bank indicators this morning, mortgage demand from home buyers shows unexpectedly strong demand, strong and quick recovery, application spikes 9% from a year ago, so mortgage applications to purchase a home also rose 9% last week from the previous week according to the MBA, 6th consecutive week of gains, 54% jump since April, refinance volume has not been as strong, those applications fell 0.2% for the week, but we're still 176%, I think that's going to be higher, no, excuse me, but we're still 100 and I'm not sure what they're referencing. But that story just out this morning as well, so strong economic indicators. We talked about the Boeing headline I had up, so they have layoffs jumping over to Boeing shares, Boeing, there's your pop from 144, we're going to open it almost 150, some context on Boeing shares, I did have that retracement level, you can see not really clon back much, right? We made it almost up to that 382, 189 was the number there exactly, you got a high of 18648, we're now coming up to that 236, either way, Boeing, we're going to open at about 14950 on Boeing shares, so that six point pop in Boeing adding to the Dow up 345 right now. Other stories out here, a couple for Amazon I pulled up. So Amazon's intox to buy autonomous vehicle startup, Zooks, to get into the specifics. Other companies are supposedly bidding maybe as well, at least one other business besides Amazon has offered to buy the company, Zooks is unlikely to sell for less than the billion dollars that had already raised. Their most recent valuation though, 3.2 billion and it looks like they may come in under that number and the article talks about in here, I mean big numbers when you look at buying Zooks could help Amazon manage rising shipping costs that we project will exceed $60 billion by 2025. Another fact I found interesting in here, Amazon's willing to spend heavily to automate e-commerce business in 2012, they spent $775 million on the warehouse robot maker Kiva systems, it's almost a billion dollars eight years ago they spent to basically buy robots in their warehouses and now there are tens of thousands of robots, excuse me in those warehouses around the world. Pretty interesting to see if they get autonomous vehicles and that is going to able to decrease the cost they're dealing with. Amazon also another interesting story this coming out last night, in terms of local TV coverage of Amazon and basically their press department should be getting bonuses this year. Several local TV news stations recently broadcast strikingly similar reports that focused on the safety measures. The online retail giant has implemented at its warehouses, so Amazon sends out stock footage, they send out scripts that accompany it. Local stations looking for coverage, Amazon talking about it, it's definitely timely, it could be newsworthy but the fact that they're able to send the footage, send the actual scripts out quite an arm that Amazon has going on in light of what is going on elsewhere. Coinbase in the world of crypto, so Coinbase expands its institutional services with Takomi Purchase. Coinbase I myself have used this exchange previously, the largest US cryptocurrency exchange expanding its services for institutional investors with the acquisition of digital brokerage Takomi. So this is a platform, pretty interesting when you get into it. The platform is able to automate crypto trades valued at millions of dollars, so they automate them as opposed to other firms still executing that type of a trade manually. Customers include family offices, crypto funds such as Pantera, Capital, Bitwise, Multi-Capital Coin, terms of the agreement not disclosed. So here's where it really gets interesting, Takomi started about two years ago with the backing of the Founders Fund, Collaborative Fund, Digital Currency Group among others. This management includes co-founder Greg Tusser, former global head of electronic trading at Goldman Sachs, not bad. And they really talk about if you want to buy 100 million Bitcoin, we bring the tools, they're able to do those big numbers, combine that with the platform, the exchange of Coinbase, pretty powerful weapon out there. Earning season, still in effect, Papa Johns, they came out their sales soared 33.5% in May, and I believe this is just an update, they say they're gonna come out for their numbers as well. In May, for the second straight month, Papa Johns team members and franchises deliver the best sales period in the company's history. In April, preliminary estimated same store sales jumped 26.9%, not surprising, right? Same store sales shot up 33.5% in May, and that number on the heels of 26.9% in April. We jump over to Papa Johns shares, now this is the longer term. As they said, remarkable, they sold off everything, right? Not realizing everyone's gonna stay home, of course pizza delivery's gonna be a big business, and there's your pop hire on that news to about $78.99. Stay tuned folks, coming back, see what else we have on tap for Wednesday trading, we'll be right back. Many of our new listeners have heard about the Tiger's Den. The Tiger's Den is a lively community where professional traders and investors can meet, exchange ideas and information in a comfortable moderated atmosphere. Hear all of the TFNN shows, plus see all of the charts as they happen live and have access to archives of all of those charts. You can test drive the Tiger's Den absolutely free for 30 days and greatly enrich your knowledge of these markets and how to make your money work for you. 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I mean, look at this roller coaster as the market tried to figure out whether this is going to be a good thing or a bad thing for Walmart as the lockdown was put together. People started social distancing, staying at home, quarantining, and you got volatility. We trade up to a peak first of 128.08 by March 18th. You reach 133.38, that on, excuse me, April 20th, and then we have some volatility. We're back to about 123.75. I bring them up. The next story, interesting, Walmart striking a deal with second hand apparel site to ramp up online fashion sales. So they struck a deal with Thread Up, second hand seller of apparel, shoes and accessories. They expand the big box retailers online fashion offerings. They have partnerships with other retailers including Gap and Macy's that those are already in there. Interesting stuff when you think about trying to expand, trying to capitalize on people, whether it's online shopping, groceries, apparel, apparel, usually a much higher margin item that they're dealing with in that venture. Back to commodities. So IEA, usually we get, IEA, EIA, excuse me, usually we get EIA, right? Yeah, because the IEA said the unparalleled decline in worldwide energy investment has been staggering in both its scale and swiftness. That's the World Energy Investment Report, the annual report that they put out. Just to add on, I wanna bring up, shouldn't be surprising that energy investment at this time. That's what might see a turnaround in terms of no investment, lack of supply, demand is still gonna be there for oil, and maybe things rebound. Jumping on to other stocks with action today, so it's still earning season in a big way. I'm gonna go over what we have for tomorrow, big day of retail, dollar general, dollar tree, Costco, I believe tomorrow as well. But today we have tractor supply, tractor supply set expected record breaking sales and earnings for the current quarter, comp store sales for the supply farm. Company would grow 20 to 25%. So I think this is just actually an update. I'm jumping back and forth between companies issuing updates at this time. I mean, check out this, right? Talk about some volatility from 98 to 63. We're gonna open at about 115 today as they put out that update. Yeah, so that is just an update that they told us last night after the bell, up to 122.50, but man, talk about pairing that gain back to 115. I had mentioned Boeing before, up to about 150, even from 130. You're gonna add $20 to the price of Boeing in about a week, remarkable acceleration there. Disney, so Disney's getting action today. They're gonna submit a plan to Orange County officials for reopening its Walt Disney World Resort. Disney needs approval from the county and then from the governor before Walt Disney World can reopen the market liking to see progress there. We're above 124 with the bid ask 12390 by 120404, closed yesterday under 121. Talk about an acceleration for Disney. We were just trading at 100 in Disney, like yesterday. No, May 14th, so 13 days, approximately two weeks ago. You've traded up about 25% in Disney. You chopped around this area for a while. From March 26th, the initial bounce, we were trading there basically until May 14th. That run begins. Talk about a pop when you really get a gap from the 15th over the weekend to the 18th in Disney this morning. Gonna open at about 124, and that's where we're looking at on the chart. So we haven't traded at that level in Disney since, really, February 26th, remarkable clawback there. Some of the other companies I like to take a look at, ridesharing, Uber's had quite a pop. We're gonna open a hair, excuse me, a hair higher today, but yesterday opened dramatically higher and gave it all back at the start of the day. There's your Uber chart and some of the cannabis stocks have had quite a pop as well. Canopy up another 60 cents today. Canopy, they got their earnings on Friday. There's some volatility for you on Canopy from 45, 78. This doesn't even do it justice for the full. From 59, back in October of 18, then you fast forward to about a year ago. Yeah, April of 19, we're at 50. You trade down to that low of $9 on the dot. And this morning, we're gonna open at 2052 ahead of their numbers. What are they saying here? What are that? Yeah, earnings, 529, Friday before the market, perfect. Checking in on some of the other cannabis stocks, excuse me, cannabis stocks before we jump away. Chronos up to 676, I would just be real wary of some of these smaller ones. I mean, for instance, we had a caller talking about Tilray yesterday on the 10 o'clock show. And there's volatility to be here when you go from 243 to 1120 this morning. I mean, there's your pop even on Tilray. But man, when you go from 300 down to $2, and you're dealing with some crazy, crazy volume of shares here as well going on, call it with Steve Woods. He deals with float analysis, now that I remember it. And yeah, just be real wary of a company that can go from $300 to $2, even if cannabis takes over the world. Not sure that Tilray would be the one that will benefit from that. But nonetheless, jumping back to other news with headlines, I went over Boeing, so they get 2,500 voluntary layoffs. We went over Papa John's numbers. Tesla has cut vehicle prices in North America by as much as 6% following decline in demand since the pandemic-related lockdown. So Tesla trying to lower their price tag to accommodate a little bit lower demand. We have some biotech action going on in terms of these Santa Fe. They're gonna raise more than $11 billion from its sales of US shares of partner Regeneron selling 21.6 million shares at $515 per share. Not a bad deal, $11 billion. They could wind up raising $11.7 billion if underwriters exercise an option to buy 1.2 million additional Regeneron shares, additional remarkable numbers there. So Twitter, they're getting into the political fray. You could call it, unfortunately, as in applying fact-checking notices to the tweets by President Trump for the first time, applying them to two of them, talking about mail-in ballots. We are in May 27th. The national election is in November. That is gonna be here before we know it, folks. And hopefully everyone's able to do that safely. I think it's five states right now have mail-in balloting only, and you have it available in every state able to request it. So hopefully the facts get out there. But Twitter, we're gonna open a bit lower today. You see the volatility on Twitter dating back to, now this is a three-year weekly, going back to the highs of June of 18. We almost made it back up to that level in September of 19. And this morning for some lower time frame, we're actually higher yesterday on that news. I believe, yeah, because that was out yesterday, I believe. But lower today, 33, the 44, about for Twitter in the headlines. So you get to downgrade UBS downgraded brown foreman, spirit makers stock to sell from neutral. The pandemic and its economic fallout present short and long-term challenges not reflected in the stock's price. And then Fresh Pet, Jefferies rates the Fresh Pet food seller as a buy and new coverage. Fresh Pet is positioned to sustain mid-20s annual sales growth. Man, the pet food business, right? The pet healthcare business, vet business, FRPT is their symbol. Let's check it out. So we're gonna open basically flat today on that news, which is interesting, getting a nice little upgrade. But man, look at that. So we go from 81 to 40, back to 80 to 70. I mean, remarkable. Everyone was still gonna order pet food, especially if they're staying at home with their pets all day. Volatility everywhere. Speaking of volatility, checking in on the VIX this morning as the market chugs higher, how about a 26 handle? 26.95 right now on that VIX actually made it and chose to a 25 handle at one point. Stay tuned, folks. We'll be right back. Back in the day, I joined the Hotel California in 2006. And like many of you was drawn in by as well as whatever you think about you bring about whatever you focus on grows. You see, I believe that everything in life happens for us, not to us. And Tom ignited the fire within me to want to learn how to master the markets. So how did I go from knowing nothing about technical analysis to becoming the number one market timer for the S&P 500 in 2018 and the number two market timer in 2019? 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So we just dropped from 3,030 to about 3,021. NASDAQ 100 futures actually negative right now. Dow up 316. A little bit of a drop off in the Dow as well, almost 100 points from 25,389 to 25,317. Jumping back to the Twitter story a bit, they were down. The other thing I did not mention there was that you had President Trump reacting as you may expect to that story. And there's your headline, Trump threatens to close down social media platforms after Twitter fact checks claim on mail in voting fraud. So you have Twitter down a bit on that news, which explains it. Facebook shares down a bit as well from 232 to 22950. Facebook, you wanna talk about some volatility. How about that? We go from 220 to 137. We're gonna open at 230 right now. Quite an acceleration off those March 18 lows. What else we have going on? Head on over to TFNN, Basil Chapman, tomorrow night for subscribers to the opening call or review of Basil's favorite technical tools that have produced strong gains in 2020. This is gonna be a 90 minute webinar right after Tom's program tomorrow night from four till 530. Basil will be in there with subscribers. That 90 minute webinar will be archived, available to all subscribers. He comes with a 30 day money back guarantee. I encourage you to check it out. Basil's gonna be talking about a variety of topics that go into the techniques he's used in that have produced strong gains so far in 2020. Who knows? We might be at an all-time peak in the NASDAQ by then as the NASDAQ, even as we're negative approaching the opening bell right now, 9390 for some context. We're right up there near all-time highs of 9763. S&Ps even, we're within about 350, 400 points of all-time highs at 3397, now above 3,000. Stay tuned, folks. We're gonna man Larry Pezzavento coming up live with Trade What You See and also as we wrap it out, head on over to YouTube. Get in there. We got a lot of great contributors in the comment section. You can contribute as well. Take part in the conversation. Check it out at YouTube. Search TFNN live. Stay tuned, folks. Larry Pezzavento coming up live with Trade What You See. I'll be back at 10 o'clock with Tom live programming. All day at TFNN. We'll be right back, folks.