 The following is a presentation of TFNN and market kickoff with your host Tommy O'Brien. Good morning everybody. I'm Tommy O'Brien, coming to you live from TFNN, 8.30 AM Wednesday morning, June 3rd, 60 minutes to go until that opening bell and we got markets accelerating higher. What's new, right? Same old business. S&P is up 19 points, just shy of 3,100, trading at 3,096. NASDAQ futures up 39 points at 9,686, that approaching all-time highs. Dow futures up 233,259,34. So we're right at about 3,100 in the S&P, we're right at about 26,000. In the Dow, we have oil, negative 20 cents at 36,61, the 10-year yield above 0.7% trading point, not trading yielding 0.71% and the gold contract pulling back a bit, currently down $10 at 1724. We'll start things off, we'll start it off with the chart of the S&P and why not? Look at that acceleration folks, even back it up to a week ago, we were at 2965 for some context on the full run from 3,400 almost to 2174 and check out this movement we've had. Two red bars, I think we're going on 11 days, there's 3, 5, 8, 10, shame on me, 14 trading days there at 3, 5, 7, 10, okay, out of the last 14 trading days folks, we have two red bars, that is quite a trend. As Tom has been saying, it's creeping, it's creeping higher. Start things off and we'll jump over to the headline of the morning before we hit the charts, and you got ADP payrolls. So that extending some of the gains, that number coming out just in the last half hour. Private payrolls down 2.76 million in May, a staggering number in any other time except for when the expectation had been 8.75 million. The total comes on top of a plunge of 19.6 million in April, the worst in the survey's history. So 2.76 million, not immediately clear the discrepancy between the 2.76 it came in at, and the 8.75 that economists had been looking for. So that number coming out, we'll put this back on a shorter time frame, five minute bar. There you see a little bit of volatility when that number spikes at about 8.10, we trade from 3,091, within a few points of 3,100 currently trading at 3,094 on the S&Ps. Jumping back, we'll jump to the indices, we'll start it off with the Dow, 25,917. You see all the indices getting a little bit of a pop on that ADP number, far below, I mean, that's a 6 million job miss. And of course, this all ahead, we're about 48 hours away from non-farm payrolls on Friday. So maybe that putting a little bit in the market saying, hey, maybe Friday's number's not going to be as bad as they're thinking as well. I believe Friday they're looking for a decline of 8 million somewhere in line, but they were looking for a decline of about 8 million today. And that number coming in shy of 3 million. NASDAQ 100, kind of just been bouncing around at these levels since about 9 or 10 last night, even we were right here at about 730. S&Ps, 3,094 inching higher for the entire overnight session. Here's where we ended the trading day yesterday, quite a nice little acceleration in the last half hour even, Tuesday trading. We trade from 3,057. We finish at about 445 at 3,078 and we're now approximately 16 S&P points above that price level. There's your gold contract, gold sells off on that ADP number from about 1730, down about $10 to 1722, the lows at about 5 AM of 1717 in the August contract. Here's your crude chart, crude was above $38. We still got some volatility though, if you thought the pain was over and we were not going to trade negative in terms of trading in a downward acceleration. How about this, from 2 AM until just shy of 8 AM, you go from above 38 to below 36. We're currently trading at 36, 66. We get the EIA numbers two hours from right now, I'll be on the air with Tom for those. We'll get some volatility at 1030 on the crude number, I'm sure. And the euro US dollar, now above 112 at 1,1204, I mean this euro move, the dollar move, put this on the daily. Look at that acceleration, talk about a one-way move from 108 to 112 in the euro and we're talking about really, I mean, we were at 108.70 on May 25th, it's June 3rd and we just added work to over 112 now. We back it up to where we were and that is around March 9th at 114, you see when the market fell apart, you saw the euro go up to 114, talk about some volatility in his forest markets, back down to about 106, right, what's the low here, 106.30 about? And now we're trading at 112 in that euro. In terms of what else you have happening in the market, headlines out there, mortgage demand from home buyers jumps 18%, quite a number out there as interest rates set another record low. Mortgage applications to purchase a home was 5% for the week and we're stunning, 18% higher than a year ago. The mortgage market, the home market, been one of the fascinating stories of what's going on during the COVID quarantine lockdown. The market just persisting with lower interest rates, people at home, maybe you don't need all those open houses to be purchasing a new home. The average rate, this a big factor in what's going on, 30 year fixed mortgage, rate another record low, remarkable 3.37% remarkable, you can lock in that rate for 30 years. What are you going to be paying in the year 2050 for your mortgage that you signed today, 3.37%. There you go, Snapchat, so Snapchat launches a new dynamic ads automatically for brands in a global rollout, Snapchat jumping over to their shares this morning, pretty cool, brands are going to be able to automatically update whether it's their price, the availability, they'll jump back to the story in a moment, but we get Snapchat up about 12 cents, not really anything dramatic, but in the long-term context, we go from right where we were. So we're right back to where we were before the sell-off, you go from 20 to 789 and we're right back at almost 20. And so what they talk about here, they're extending a type of automated advertising to companies, dynamic product ads. Seems like I read the story early, early this morning, I'm surprised that this is going to be the norm. In terms of it will allow businesses to effectively upload its catalog to Snap before products are automatically put into a template and then shown to relevant app users. And here's the key, if a product's price or availability changes, the ads dynamically automatically update in real-time, less admin for the advertisers, automated process folks, computers doing the business, British Apparel brand, Topshop, Adidas online fashion retailer Fartech. They've already been beta testing this for Snap. One of the things I always talk about is, can you monetize? Can Snap monetize? Can Twitter monetize? They've had some problems. Maybe that's the key that will allow them, Snap, I use Snap, it's a great product. But they have had trouble monetizing it to the likes of the king of the world in social media, Facebook. Talk about an acceleration from 220 on Facebook to 137, all the way back up to about 240. They went open a little bit lower this morning on Facebook, now Facebook dealing with their own set of woes in terms of social media. The president, Zuckerberg, his employees, but Facebook persisting and one thing they do well is monetize the billions of users they have on their platform. Jumping back to other headlines I have out here, we had mortgage demand. So Amazon, Amazon plans summer sale for June 22nd. So they're already thinking, how do they jumpstart sales? Maybe there's a lot of pent up demand. I mean, pent up demand. Hasn't everybody just been ordering stuff on Amazon already? So Amazon is going to jumpstart sales for everybody who's been ordering everything on Amazon. But nonetheless, June 22nd, we'll see what happens, Amazon climbing towards 2,500. And that chart, talk about a giant. Look at that acceleration, right near the highs of 25, 25. Stay tuned, folks. We'll be coming back after the break. See what else we have on tap for Wednesday trading. I'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. Details on The Tiger's Den are on the front page of TFNN.com. This TFNN has launched our brand new website. You can still visit us at the same TFNN.com URL. 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The prospectus or summary prospectus should be read carefully before investing. An investment in the funds is subject to risk including the possible loss of principal. 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. That's TFNN.com and hit watch Tiger TV. That's TFNN.com and hit watch Tiger TV for the latest market information. S&Ps right now are positive by 18, we're within about a couple points of the highs we had just after that ADP number at 820 this morning, just kind of ticking right under 3100 in the S&Ps and right under 26,000 in those DAOs. The DAO for some context of where we are there. From 29,543, we're now above the 618 even on the DAO, approaching the next level on the Fibonacci retracement, a 786, you're talking above 27,000 on that index, Boeing having a lot to do with the DAO. Up a little bit this morning, a bit ask above 156, the collapse of Boeing from 350 basically to 89, you're still flirting with this whole consolidation down here of 150 to maybe 120, call it 150 and somewhere in that area. Another stocks with action, getting back into the payroll number first actually before we hit the stocks with some earnings today or last night, breaking it down a little bit further. So the number comes in at 2.76 million, the job losses were especially deep in large businesses reported to decline of more than 1.7, excuse me 1.6 million, manufacturing took one of the biggest hits 719,000 workers lost. The reported total well below the 8.75 as we talked about May's count also marked a precipitous drop off. So 19.6 was the number in April. The impact of the COVID-19 crisis continues to weigh on businesses of all sizes. Yeah, I would not disagree with that statement. The report's done in conjunction with Moody's analytics and serves as a precursor for the monthly non payroll. So that number tomorrow, excuse me Friday, Friday morning, non-farm payrolls. Okay, nonetheless, that was just breaking it down a bit. Now, speaking of specific stocks, Zoom with their numbers last night, they delivered in a great way. Their shares talk about some volatility, talk about some high expectations. Zoom reported revenue growth of 169% from the previous year, first quarter earnings report on Tuesday after the bell. You had earnings of 20 cents a share, revenue of 328 million, now check it out. They were looking for 9 cents and they were only looking for 202 million, I mean crushing it out of the park. The company also significantly increased its guidance for the fiscal year. It now expects $1.21 to $1.29 on 1.78 billion. In March, it had forecast 42 cents maybe on about 900 million. Just an amazing beat on their numbers. But guess what? You better be knocking it out of the park when this is what your stock chart looks like for the current fiscal year. You're talking about calendar year, I should say. You're talking about a run from 68 up to basically 208, now here's the remarkable thing. You want to talk about absorbing premium. You traded from 208 up to above 220 instantly on the news. You actually traded under 200, the conference call began 5.30 PM Eastern time last night at a low of about 197.50 and guess what? We're within a dollar right now of where we closed at yesterday. Now the one-day expected move on Zoom, you were dealing with about $23, $25 maybe of expected move basically meaning if you were buying an at-the-money call for the day and an at-the-money put for the day, okay? So you have a put in a call, you have exposure in either direction, you're buying volatility. What is the market pricing and implied volatility and the market was priced in about $25. So each side was going to cost you about $12.50 to be bullish. If you just want to be bullish, you could be bullish for $12.50. You want to make a bullish play on options for one day, $12.50. If you want to be the person absorbing that premium on both sides, man, you might collect it all. We're within about $0.50. So where that finished at yesterday, we'll give a quick plug to our man, Kevin Hinks, Alex Coffey, the team at TD Ameritrade Network, folks, if you haven't checked it out, the program Fast Market, 11 AM Eastern time, they're talking options. Every program talking about defined risk, volatility in a big way, earning season, great time, let alone all the action. We got non-farm payrolls coming up Friday. And the VIX will tie that into volatility, still a relatively high VIX in a market that is not quite maybe deserve a VIX over 30 anymore as things seem to be calming down. We just got an ADP number that had 6 million extra workers than they were maybe thinking, right? We were supposed to miss by like 8 million. We came in at 2.8, so we only lost 2.8 million jobs. They thought we were maybe going to lose 8.2. And the VIX is sitting at 27, a little bit of a decline, some long-term context. Might be a time to absorb some premium. We're coming into summer trading as well, right? It's June, 85, 47, it almost doesn't feel like it because things are so different. People have been working from home, kids have been home from school. So there is this transition from technically, now we're in summer, especially in Florida because we've had beaches, we've had beautiful weather for a while. But as that weather heats up in the Northeast, kids off school, you could just see things calm down, things look well. Maybe we're opening back up. And hopefully what is going on in the country as well calms down as well. Because that is just a bit much right now, senseless violence, protests, you got to be heard. And hopefully there's systematic change of what's going on in terms of police and the way they deal with minorities and everything going on there and understanding and listening. But violence is never the course of action and destruction as well. But this VIX, 85, 47, back to the market, 26, 54, just amazing to see Zoom after all that action. We talked about it with Kevin Hinks. I mean, they had a $25 expected move. That's an opportunity to absorb some premium. But guess what? That makes sense. I mean, I mentioned on the program yesterday, you put this on a five-day chart. It had a one-day expected move of $25. Meanwhile, you had gone $25 just from Monday morning, up to Tuesday morning practically from 1.80 to 2.15. So volatility, we'll see where Zoom goes today. You might see it just race out of the gate one way or the other. Okay, jumping around to some other stocks making headlines because we have a bunch of them. Campbell's out with their earnings. The food producer reported quarterly earnings, 84 cents a share, 9 cents above estimates. Revenue also beat forecast. Campbell raised its full year guidance, noting an increase in demand across all its brands, all its brands. Quite a statement, CPB is their symbol, and they've performed relatively well compared to the market during this time. Campbell's up a bit to $52.40. We were as high as $54, the conference call beginning this morning at 8.30 when I came on the air. Some context on Campbell's, there's some volatility for you. The market in February, up to $57, down to $42, and we're right in the middle of that range right now at about $52.04, Campbell's. Kennedy Goose out with earnings as well. They matched analyst forecast. They lost 12 cents a share. Revenue came in above estimates. Kennedy Goose also said the pandemic-related negative impact on its business would be most pronounced during the current quarter. Traditionally, it's slowest of its fiscal year. That would be a lucky benefit. Let me put that back. Goose is their symbol, those big Kennedy Goose jackets. Above 30 to 12.94, we're going to be trading positive this morning, zooming it in. There's your action on their numbers up to about 22.72, not bad, right? They match earnings, they beat on revenue and they say this quarter's going to be the worst, but this quarter's usually our slowest anyway. So Express, retail, they're out with their numbers, $1.55 a share they lost for the quarter, wider than the 47 the market was looking for. Revenue misses as well as the pandemic closed the stores, Express is not providing guidance. I mean, it's almost like the usual hits, right? If you're in retail right now, you're missing on almost anything because your stores are closed. You're not providing guidance because you're not exactly sure what's going to happen. EXP, is that there's EXPR? Let's see. There's your action, yeah. From 2 to 187 on that news, not a good delivery and a company like Express for some context. Yeah, talk about already in trouble folks from 6.24 to 4.50, down to $1.27. Watch out for that company might be going BK. Okay, S&P's still hanging up about 17 points at 3094. Stay tuned folks, we'll be coming back to finish up the program, see what other equities we have making moves this morning. Back in the day, I joined the Hotel California in 2006 and like many of you was drawn in by bam, as well as whatever you think about, you bring about whatever you focus on growth. You see, I believe that everything in life happens for us, not to us. 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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Jumping back. So I wanted to cover the gold contract real quick because you have gold pulling back as the market's chug tire. We were at $17.61 Monday. We got a little bit of a sell off. I say it $17.55 to $17.35 yesterday. And on that ADP number is the market chug's higher gold, trading a little bit inverse from $17.30. Now trading at $17.12.80. And of course, we get that crude EIA number at $10.30 this morning. Crude hanging tough at $36.69. Jumping back to some equities with headlines this morning. Cody. So the cosmetics company is in talks with Kim Kardashian West about a possible beauty products collaboration. Believe Cody is the one who teamed up and purchased a majority stake in Kylie Jenner's cosmetics company. Excuse me. Cody not really having a huge effect this morning. Tiffany. So Tiffany, they traded dramatically lower yesterday on the news that their takeover by LVMH may not go through. Tiffany shares kind of extending those losses. Yeah. So we were trading at $128. You spiked to $111. We're trading at $115 on the news that LVMH may not be in the business of buying Tiffany because of the dramatic slowdown of COVID. And I wonder what kind of clauses are in that contract they signed for a back out. Lyft. So Lyft traded higher yesterday after the bell, after they said rides booked through its platform jumped 26% in May compared to the previous month. Demand has begun to rebound with Lyft's ridership figures rising for seven straight weeks. The May figure, however, 70% below year ago levels. So I'm going to pull up Lyft as we end the program here. One thing to be aware of when you talk about percentages of growth off of a very small number can be very deceptive, right? Let's say they had 100 million in revenue and they go down to 10 million in revenue, which is very possible in this type of a deal they sue. So they go from 100 to 10. Well, they could have 100% growth and they would go from 10 to 20 and they'd still be down 80%, right? So be careful of those percentages but Lyft trading higher on that news at 3320. Stay tuned folks. Live programming all day at TFNN, Larry Pesvento coming up live with trade what you see for the.