 If you head on over to the front page of TFNN, you'll see right there under featured content the Tiger 4x report by Teddy Kegsdat. Teddy launching a brand new 4x report folks in the last couple of weeks, he's got a new issue out this week as well, second issue out there. You can sign up for this month alone folks, okay? So this special only runs through July. You can basically become a charter inaugural member in Teddy's newsletter, the Tiger 4x report. You can get that folks at 25% off forever. You lock in that number of 25% off the $97 price, that gets you, I believe, to $72.75. I got to do that number and we will get it done. But nonetheless, let's talk to our man, Teddy, because man, we got some action going on today. Teddy Kegsdat, good morning. We certainly do. How's it going, Tommy? It's going great, man. How was your 4th of July? 4th of July was great and then the markets opened up yesterday and what day really gets blows of start to July in the third quarter. I don't know where you want to kick it off, man. We got some action in the currencies. I'll tell you this though, before we do, I have many friends, Teddy, one of my best friends right now lives in Switzerland, moved over there to work for J.P. Morgan from Staten Island, New York. But so we're always talking a little bit of Europe action. And some of my friends, they already got trips planned to Rome right now and they're talking about, of course they are, where the Euro is, where the dollar is, pretty remarkable moves if maybe we kick it off there. Yeah. Well, here's the interesting thing that happened over the past two days. Obviously, you're aware of the oil sell-off. The bonds have rallied huge and the 10 years rallied very huge over the last two sessions. I mean, to open up like two handles higher on a day following a three-day holiday weekend is pretty explosive with no news. And also to compliment that we've had a huge dollar rally across the board from basically Sunday night through yesterday. Now, this is divergence. This is going to be very interesting to see how this pans out now, OK? Because the bonds making, I mean, you have always, everyone's starting to hear about recession, OK? Because now the Fed and the economists are starting, they can't deny the fact that we just haven't hit that three-quarter mark or whatever, four-quarter mark of certain numbers hitting whatever, you know? But the reality is we all know where we're at, you know? So I think it's, you've got to be very mindful of what's going on today. I mean, the Euro, anyone that reads the Forex report, we hit our downside target today by, I went through it by a couple of pips. That's key support right now. We're getting close to parity in the Euro, you know? And the US dollar Swiss is starting to gain momentum back to the upside. And I think you really have to pay attention to the fact that some of these strong currencies, they're getting very, very weak, you know? And I think that what we're seeing right now is this little choppy period before we start to regain our trends. The bond market is the very interesting part, I think is amazing because you have an accelerating dollar strength with a decrease in interest rates, you know, short term. So I think that's going to cause a lot of backlash. And I think we're going to see some really wild swings. Like if you look at the US dollar Swiss chart, how it's looked over the past month and a half, two months, that's an incredible amount of volatility, you know, for that kind of a market. I would expect that we're going to see more of that kind of stuff moving into August. And can you walk through maybe the listeners and viewers through Teddy, because you've talked about it before, just how kind of some of those markets are shaped by some of the demand in terms of basically, you know, whether it's traders, consumers, whoever you are in the market, you're searching out higher yield, right? You're going after demand kind of in the same way the crude ties in. So can you walk them through just the fundamental aspect of what you just said there in terms of you have higher interest rates? No, excuse me. You have lower interest rates at the same time that you have the dollar actually moving higher and how that's contradictory in the long run, usually? Yes, absolutely. And the thing is, it's not that at any given day, they can counterbalance and go against each other. They don't they don't just trade in tandem tick for tick. However, when you have this kind of explosive momentum, like I said, like where you have the treasury bonds in the 10 years up to basis handles, you know, you have the dollar index that's exploded to new highs over the past two days, you know, that is a contrary move. Those are it's a rubber band being stretched. So the question is, is when it comes back, which one is going to get the trend back? Now, I don't see I don't see the interest rate. I mean, we have the five minutes coming up today. I don't see any type of speak coming that they're going to say, oh, well, there's rumors of a recession looming around the corner. Maybe we're going to put the brakes on raising interest rates. I don't see that happening. I mean, something like that would cause a shockwave today, for sure. And obviously set some new trends, possibly. But I don't see that kind of speak coming out of any work from the Fed whatsoever. And I think after we get through today, you remember, we're coming off a three day holiday market. There's a lot of opportunity in arbitrage. The algos are kicking up. You have no retail traders. You have very thin pockets of volume. You have vacuum moves. Like I remember for people who weren't from the trading floor, you know how like when they go hunting for stops, you know, there's always a little liquidity everywhere in the market, especially in a trading pit. But once you hit that one pocket where there's a whole bunch of resting orders, whether they're countertrend, you know, people bailing or getting in, you know, that's when you have really erratic moves, you know, and especially in holiday markets, those pockets stretch. So it's very easy, especially in an electronic world for markets to over trade. And I think we have to be very careful of the fact that over the past two days, especially, we may have seen the markets over trade and they're going to snap back to that somewhere to their equilibrium. Yeah, it's a great point, for sure. And so, so let's let's jump to crude. Since we've been talking about crude for a while, maybe give the listeners or what your look is for crude, because we're down at some pretty important levels of under a hundred bucks. Right. We're approaching. I was just talking about it, whether it's the lows we had from May. What do we have a low of 9820 I got on my chart? We're at 9812 right now in that crude contract. What are you looking for in crude in the coming near term? Well, it's definitely quite a nice sell off. I mean, I'm so upset I bought gas on Sunday. I should have waited till today. It was only 15. Ten bucks in that price of a barrel, seriously. So, but I think it's just grinding its lows. I think it's it's trying to find its bottom, you know, I mean, it's all because of the word recession that's now getting headlines. You know, before it was the news saying, you know, are we in a session in a recession is the Fed going to say anything about it, you know, and people like us have been talking about it, but it wasn't confirmed, if you will. Now that you have somewhat of a confirmation coming out, I think it's a news driven slide. OK, and you got to look at this is right in front of where their curve, you know, Russia is still supplying oil to certain parts of the world. They just put it out over the weekend. They want to put the clamp down so that Russia can't deliver any oil anywhere in the world, period. You know, so yes, what does that do to supply? Do you think that oil is going to go down to 90 or 80 bucks when we squeeze the last bit of oil being released from Russia? Yeah, that's not going to happen. You know, and I think that this is that friction point where we're going to the downside. And I think you're you know, there's also a delivery nature to you know, as far as supplies to. And I think that that's going as that demand increases for the fall and the winter time, you're going to start to see. Once again, the market can bit up as well. Yeah. And back to Chairman Powell, I would pretty much agree with what you said in terms of, you know, they're on a course right now. And they took a lot of heat early on, saying that they weren't going to hike right until they saw absolute data that they needed to. And that turned out to be a big mistake. But they're probably going to do the same thing here, saying, listen, we're going to hike now and we're not going to pause hiking until we see concrete data that inflation is behind us. And I at least feel that. And I know you probably agree that inflation is not behind us by the data for sure, because you need a real trend here, folks. You know, you need a real reversal, not that you have, you know, a pause in some numbers, not that you have some waning demand. Right, because they got a lot of work to do. Well, Teddy, thank you so much, man. And we look forward to talking to you next week, man. And we appreciate the time as always. And by the way, I wear crocs and they even wear socks with crocs. They rock it, man. Whatever makes you happy, rock it. We'll get you on with with our man, Kevin, as well. Thanks, Teddy. We'll talk to you next week. Stay tuned, folks. We'll be right back.