 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, Tom and Tommy O'Brien. Welcome folks, appreciate your garal and a problem with us out here. We have the Dow Industries up 3, Nasdaq down 18, S&Ps up 1, Gold up 430, Trader 1488, you get Silver down 5 cents, $17.51, Announce, Light Sweet Crew, flat, $57.37, A barrel, notes and bonds, you get the 10-year up 7 ticks, $129.05, 30-year up 24 at $158.20, and King Dollar. King Dollar down 113 ticks, Trader 97869, the Euro is at 110, the yen is at 109, and the pound is at 128 to 1 U.S. Dollar. And Uber. Let's hail an Uber, man, quick, because they're all going to be gone in no time. Man. Maybe all those shares are going to be gone. 66 million shares, folks, down first day of a big lockup. It's at all-time lows, trading approximately $25. Yeah. Big number. And we know who's selling half it. I'm in, Mr. Kevin Hinks. Oh, boy, get him on the line. Let's see. I'm only kidding, folks. Let's go with our man, Mr. Kevin Hinks from TD Ameritrade, Thinkorsquim. And don't forget, folks, every trading day right here, 11 to 12 Eastern Standard Time, you want to understand options, options strategies, futures, great program. I'm sure there's plenty of people that were in Uber buying it, buying it in particular, that they would have rather be in the option market than the equity market. Oh, man. Okay. This is, the stock is almost cut in half from the IPO of 45. Kevin Hinks, what's going on? This is where defined risk can really help you. Good morning, Tom. Good morning, Tommy. You know, guys, this just proves to me that in another life, I'm sure I was a salmon because going against the stream is kind of what I like to do. And I think eventually, you know, obviously today is going to be a horrible day in Uber, but eventually you want to step in and buy this. Yeah. I was waiting to say a similar thing, Kevin, saying if you wanted to be a buyer, right, you let all the insiders... It's never going to be cheaper. Let these weak hands sell Uber and let people trade out of it. And this is probably when it's good to get in. Let this, you know, this, you know, when they take the controls and let these people sell, let that wash out. And that's probably the time you want to nibble if you want to get in to Uber. And if you're already in Uber, this might be the time to double up and average down. Now, that's me from a trading perspective because something beat up so bad. Unless this thing's going out of business, I don't think, and I don't think it is. They just got to figure out a way to make money. Longer term, I agree. I mean, they're around. They're going to change. They're already changed the world practically. Right? And you can't come back from that. No. No. And I was looking at it yesterday, thinking the same thing that, you know, there's a buy here. And I said to myself, stop it, man. Just stop it right now. You can give it a few days if you're a long-term buyer. Right. Seriously. I like to trade. When some event, Tom, like this comes out. Yes. I want to wait till day two. Sure. Yeah. And let everything... Because think what you can happen. Today it's going to trade down hard, right? Yes. You just know it's going to be heavy. Right. Tomorrow might be margin calls and things like that. Yeah. And people that have to get out. That's when you want to start nibblings. I agree. With the people that have to sell. Let it all sort out. Because there's going to be some remnants left over tomorrow or the next day, maybe. Yeah. And be greedy when people are nervous. Oh, that's right. And be nervous when people are greedy. I like it. It's so true, man. I mean, it's... And it's so basically hard to do at most times, but it's so true. It's very hard. They got 67 million shares traded. What did you pull up the most active? The next biggest stocks at like 20 million? Oh, no. And they had shares. I mean, the stories Kevin was seeing them all over the place. I mean, they... Goldman Sachs executing a trade for 2 million shares early on at a 4% discount to the market. Basically saying get me out even if it's at a discount. I'm sure there's people that just... Remember, if you're in the venture capital world and this lockup ends, you need... For you to play the next play, you got to be liquid. It's time to move on. And you got to have cash to do that. So at least some portion... That doesn't mean they're going to sell 100%. I think that would be crazy if they did. They're pretty smart guys, so they won't. But they'll sell some. That's for sure. And move on to the next one. And how's that print? Yeah, I just pulled up, Kevin, the block trades, right? Sure. So it's like insane looking at this. It started at 8 o'clock this morning, 692,000, 600,000, 273. This set of pop folks, when you're looking at these. This is someone... So the cool thing here is when you actually look at this, pitch it, someone was selling it. But guess what? Someone was buying it. Exactly. Totally. And just like you're saying, Kevin, that could be somebody that's saying, hey, you know what? I know we might face a little turmoil. I'm going to be a long time buyer. I'll buy at a 4% discount today, even if the stock goes down 5, 6, 7, 8% because I'm not selling it tomorrow. I'm selling it whenever I'm selling it. Yeah. Exactly right. So it's pretty wild. Jamie Diamond had a quote yesterday, Kevin. I'm not sure whether you're sorry or not. This is about the WeWork deal. And they were asking them about... You guys were behind this, what lesson have you learned? And he says, I learned a lot of lessons too. He says the reality is that these private equity companies, they are not price... Price discovered. Yes, thank you. Right. When he says that... Price discovery's not there. He says, until you get into the public market, he says what we realize is that that's what price discovery is. Especially when it was just one firm. Right. You know, the soft bank. There's no discovery when it's one company that's pricing everything. Yeah. And I had the privilege years ago when I was the specialist in bank one and Jamie Diamond was the CEO of bank one, I got to spend the day with him. Really? Wow. And yeah, and he is... He's an animal. Yeah. He's a rock star. Right. I really liked him a lot when I met him. And what I liked about that interview with Tom, and I did see it, you know, the interviewer tried to corner him on something and he goes, you don't know. You don't know what we were doing and what we were thinking and how we were advising them. Sure. That, you know, he tried to get him on a gotcha question and Jamie Diamond was like having none of it. Interesting. I really liked him. Oh, that's cool. I've liked him since I met him and he's an impressive guy. It's not much to not like in terms of the leadership he has and where he's put JP Morgan. Right. And it was a while, is that when he was at bank one, Sandy Wild was the guy at City Group, right? And Sandy ended up basically pushing him out. And he was his mentor. And that was so lucky of him actually because, imagine, you're in fact your JP Morgan at City Group. I'll take that all day long. Do you know what I mean? Yeah. Yeah. But Jamie Diamond, interesting guy. He was, he walked in, he came into the trading pit where bank one was trading in the GE pit at the CBOE and he was standing around with the traders because he was an ex trader. Yeah. So he was very comfortable in the trading pit. I really, I really liked him. Yeah. He needed that feel. He has that feel though. He does. That's a big deal. There's no doubt about it. Well, you know, market wise out here bottom line is that it's with laying at highs, right? Yeah. Here's what it is guys. I think and Oliver Renwick and I just talked about this on the air. We know what good news is, right? Good news is good news now. But bad news with the productivity and cost number we got this morning that was a little light. That makes the bottom market really. And I'm not sure bad news is bad news. I think bad news might be good news too. Yeah. Because it makes bonds really. So they're not really hurting us on a pretty weak productivity and cost number. So it's kind of interesting where we're at here. Very, very tough time to be a bear. Let's put it that way. Yeah. And that even though you're a salmon going upstream, right? Exactly. Exactly. I got that off my trading room, Kevin. I have to do that. One of the, it was awesome. Mr. Bill put in the salmon. You have to watch those bears going upstream. Watch them, baby. Exactly. That's right. That's right. Listen, man, you have a great one. Safe one. We look forward to showing 45 minutes, Kevin. Great talking to you guys. Thank you so much. You too, man. Isn't that cool? That's it, baby. Watch out. Stay under that water, man. Under the radar. Stay right there, folks. Tommy and I are coming right back. We have to down. That's just up. 11 now. Second down. 20. These are one and a half. Come right back. If you're not currently using the Taz Profile Scanner when looking at setting up your trading opportunities, then your arsenal is short a mighty weapon. The Taz Profile Scanner is a standalone piece of software that instantly filters over 2,500 global financial markets, such as stocks, ETFs, commodity futures, and forex. Heated by Steve Dahl, Taz understands that in today's technological world, the use of top flight software applications and technical analysis expertise is essential to successful trading in today's market. 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And I saw the stock was down, but I hadn't seen any of the real details, which are pretty remarkable like we began to talk about. So a large stake in Uber changed hands before the market, and this doesn't even really sum up. I think this was probably, well, it's saying 948, all right, but maybe it was even updated, but it doesn't really get into some, we saw 7.5 million, right, when we were talking to Kevin. So Goldman Sachs sold about 2 million shares on behalf of an unknown selling holder at 2690 each, a 4% discount. Now, I think that big block trade we had on the Bloomberg was like 2605, much more of a discount even than this price tag, right? Shares were offered at 2675 to 27, shares of 2019's largest IPO closed 38% below the offering price on Tuesday ahead of, and that's yesterday. The stock is down again today, 38%. This could be, and this is where it gets really interesting, this could be the first of many Uber block trades on Wednesday. A trader said Goldman Sachs itself held a 4.1% stake in the company. 4.1%, Uber shares falling as much as 8.7%. Yesterday, you have to imagine that they might be getting out of some of that, Kevin was saying that venture capitalists are getting out to do the next deal. Uber, Goldman Sachs doesn't do deals to buy and hold forever, right? They do deals to get an equity stake, yeah, and maybe that's time to exit and just like you said, so there's the 7.7 at 2602, I think that article referenced like 2695, which was a 4%, you can see right now it's trading 2735, still down 67 cents from the close yesterday. That's some volatility in volume now. 73 million, and when you look at the- There's a full turnover happening here. I'll go right back to it. I just wanted to see it, because you don't normally see this, and you put this up, and this is where I found it, right? You pulled up the Bloomberg, and I said, whoa, 70, but normally they kind of go like this, right? There's a leader, there's 20 million, 18, 1831, Uber said 73 million shares, and that's huge. I mean, the block trades are only seven, the biggest block trade was 7 million. You take that off, you're still at 65. You take off the 2 million shares that they just referenced in Goldman, you're still at 63. And like you were saying, let's see how many shares are in the float. 57 million. Yes. That's pretty intense. Yeah. No, no, that's the short interest. Let's really get this, that's a much different number. You're talking about shares outstanding, 1.7 billion, the float 965 million. But still, staggering number, man. When you think about it, you have a float of 965 million. It is 1020 a.m., and we've got 73 million shares traded, and guess what? It's just moved 500,000 shares since we started this conversation. Let's look at, let me look at Lyft for a second. Lyft, I mean, this has to be effective in Lyft, because just in the aspect of, look at it's not, look at that. That's impressive. Yeah. Lyft's up a dollar, folks. There's a lot of fundamental things going on right now. Do you know when the lockup expires for Lyft? That's a critical thing when we look at it, because Lyft became public first. Maybe their lockup has already expired as we get into, you know. Yeah. I'm just talking about even evaluations that the... Yeah. Yes, for sure. For sure. That's a number, man. It's a whole week out. Definitely. So oil, we get oil, right? We sure do, man. It is Wednesday. It is Wednesday. Let's jump around real quick first and pull up the whisper number. So we get the crude oil inventory numbers 10.30 a.m. Eastern time. We're looking for that number in about eight minutes. Let's see what they're looking for for crude. So they're looking for a build, median survey, analyst estimate, about 2 million barrels, the whisper number on the Bloomberg Terminal about an increase of 1.4 million. We got about a couple of minutes. Maybe we'll throw a guess in there just for fun. But the market getting a little bit of a bid this morning, man. And that's what the build expected. You're still getting, we were just at 8.30 at 57, 56.86. You almost traded up a full dollar, man, from 8.30. Quite a run up right until 10 o'clock. We make the high of 57.79. You get the contract right now trading 57.66. And to see what kind of volatility they're pricing into here. The 11 a.m. So let's see. We're trading right now at 57.65. We'd have an option where we could get volatility moving in either directions from 57.75. So you're only 10 pennies away. You're bullish spread completely out of the money. That's going to be the cheap one at 14 bucks. The bearish spread, the one where you're going to have about 10 cents of intrinsic value. That one's going to be about 10 cents. This is where you want to get used to, right? You know that one's going to be 10 cents more expensive than this one because it's a similar amount of premium. Just the 10 cents of intrinsic value that you have in it. So you're looking at about 38 bucks for the 11 a.m. representing 38 cents of movement away from 57.75. Keep in mind you got 10 penny heads start to the downside. Let's see where the noons line up. So a little bit of a different price point now. We could choose 58. That's a solid 34 pennies away. Or you could choose 57.25. Again, about 30, 35 cents away. Now what I like to point out when these line up, this, if you're directionally biased, not a bad trade, man, as in you're going to be paying very little premium because you have to put up a little bit of a chunk of intrinsic value, all right? So let's just say you're bullish. You think the run's going to continue. What's nice is contract straight into 57.69. And this contract right now is straight into 57.78. You're only paying nine pennies. That's pretty cool. And for that nine pennies, you're locking in a risk reward of two to one. Yeah. Not bad when you line those up. And let's just see where the dailies line up. So 57 bucks on the daily. There's been a lot of movement already. And 57 as well, all the way. They're trading. Just give me that number again. We're trading it. I'm going to put in a before because we got 10 seconds just for fun. I'm looking for a bigger build. We're looking for lower price in oil, all right? We got plenty of oil, man. Plenty of oil. 2.5 million barrels we're looking for on that number. I agree. Because what's happening here is that the oil market, that's what is fluctuating on the swing point, too. This, it got over it Monday. What day is it today? Yeah, it got over it Monday. It came back under a Tuesday, I think. It probably back over it right now. But let's try to stay over this. There it is right there. So it did get over it yesterday. So that 56.92 is the number. Interesting. I think this is a delay as well, right? Yes, it is. That's why. So we're trading a little bit lower right now. It's a 20-minute delay. 15, I believe. So, man, you're at the highest. Interesting. The volume's dying. I think we're going to be right. I think that the thing's going to back down a bit. Yeah. Interday. You just got that pop. Can we put it on a longer team just when you're done with this? Yeah. Because have we seen $60 oil in a while? We had that spike. It continues to get up there here. We had the... Well, first I'll do this. We had the big spike on the Saudi oil field, but that was a pretty quick relatively. I mean, that's one to two days outside of that. Yeah, no, 58.32. And then we had the spike to 62. Yeah. And again, that 62 spike was very short-lived. Yeah. It only one day. It closed the next day at 58. Yep. And then can you back it up to... I just... Where are we? Because this is the last time, really. $60.54. We're going back to July outside of that. And then really back things up if you want to get above there. $63 in May. You know, when you start getting above there, we're going to... I mean, we're right at that critical level if we make that bit. It's pretty cool. Mr. Bill is saying that we had the API and the build of 4.3. Okay. So that's quite a differential as to what the whisper... Yeah, and they do vary sometimes. They do. But we'll find out in three minutes, man, when we come back. Stay right there, folks. Tommy and I are coming right back. 877-927-66 for $8 down. One Nasdaq off 22 S&P's up one and a half. I'm right back. Hi, folks. Tom O'Brien here. If you'd like to get my daily newsletter and 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. 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We are so confident that you're going to love this new charting software that will even give you a 30-day unconditional money-back guarantee. Don't miss out on this incredible new piece of software. Get your copy of The Art of Timing the Trade Charts today by visiting TFNN.com. 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. I'm Dow. Dow Industries, Dow's 17. Nasdaq off 33. S&P's off 1.5. And let's see what we got here. Yeah, so I think they might have mistaken the percentage symbol for the million-barrel symbol because I've never seen them list things as a percentage, but we'll get into it. You have crude oil inventories rising 1.81. I think that's going to be million barrels. Somebody's got some type of fat fingers over there on the Bloomberg terminal. Oh, nope. That is not. That is not. So shame on me. They're doing their job. 7.9. Go big or go home, man. What are we doing with 2.5? So with that in mind... That's a bill. Drum roll, please. Yeah. Oh, come on. What are we doing? There we go. There we go. I was like, catch up, catch up. So my only mistake was not going big enough. 57.37, the price of crude. As you'd expect, you get a big bill like that. You're going to see a price drop usually, not all the time, right? Right. That's a monster, right? That is a monster. We'll jump back to it in a moment, but you just saw the price tag. We were trading about $57.65. We're now trading about 30-cent drop. If we were looking at those contracts of the 57.75, right, we were looking for about 40 cents for the 11 a.m.s. Yeah. You got that in a heartbeat because we had a little bit of a head start to the downside. And let's just jump back. And so, yeah, gas inventories. Yep, so we have crude inventories rising, 7.93. Gas inventories falling, 2.83. Market going to see a little bit of volatility, I imagine, on those, and pretty remarkable that they have this percentage. I'm not sure what that is. I've never seen that pop up before. But nonetheless, almost 8 million barrels, and there's the headline. So crude rising 7.9 million barrels. The estimate was right around 2. Gasoline, a miss as well, in terms of lower 2.8 million barrel draw. The estimate was only a draw of 2. And let's see, distillates down 622,000. The estimate was a decline of 1.2 million barrels. And look at this. This is always interesting when you really get down to the fundamental basics of things, right? Refinery utilization, a decrease of 1.7. They were looking for an increase of 0.7. Right. Yeah, and as you'd expect, lots of going on. Gas prices drop, then bounce after start. I better get there. IPO, I'll quick. Oh, man, right? Can you imagine them watching that? Now, what was the number again that we're trading right now? I just want to look at that swing point. We dropped about 30 cents. I'll just pull it back real quick to see, because it's going to be moving quickly. 57.31. We're checking out. Now, 57.24. You better move quick. Yeah, 57.24, OK? Yeah. Because this swing point, that's what they deal with. We are. We're right there. OK. Yeah, that's 57.24. Yeah, that's 57.92. No, 56.92. Let's get it. Oh, thank you. Thank you. Yeah. So that does a little bit more to get underneath that. Yeah. Well, give it a few minutes, man. Oh, it's a monster bill. Right. There's no doubt about that. It's a monster bill. Maybe we can go into some of the CVS. I know they're earnings. They're closing 22 stores. Pretty interesting in light of the story that broke out yesterday, right? You see Walgreens boots, maybe going private, man. Yeah. Nothing like a private but we buy a company for 60, maybe 70 billion dollars because we think it's undervalued. It's unbelievable. It is. And that doesn't even tie into CVS having their earnings, closing down some unproductive stores it looks like. But let's see. Let's see. Ah, this is going to I think, let's see. Well, they raised the forecast. That's what it looks like at the top, right? I mean, look at that. So let's see. Despite ongoing pressure from politicians and consumers on drug prices, including the role of companies like CVS that manage patients and pharmacy benefits, that's the pharmacy benefit manager unit, is performing well. Revenue at the business called Keramark, up 6.4% and adjusted operating income rose 5.7% to 1.44 billion. That's amazing. It sure is, man. At the company's brick and mortar pharmacies, retail sales rose. Good news in an industry that's been beset by pressure from online competitors. Rent-a-store revenue was up from a year ago thanks to sales and beauty products and over-the-counter cold and cough medicine, business CVS acquired with its takeover of etna last year is proving highly profitable. Wow. Yeah. Yep. Selling prescription drugs, man, and just over-the-counter drugs is a monster business. And now when you get winter coming, all those ads are going to be everywhere of all the colds that people are going to get up. Sure. It's a monster number. There's no doubt about that. Let's go take a look at some of the higher volume equities that we have out here. We know Uber's getting smoked. What are they up to now? We were at 73 million shares when we last looked. 79.88. Yeah. There we go. So you got, we'll have to go to Hewitt Packet. Yeah. Hewitt Packet's at $2. That's up by 10%. Yeah. We have the CVS where it went through that. It got... Whoa. Office Depot, man. Up 30 cents. It's like 15%. Hmm. There you go. They beat. Okay. So they beat. They sure did. Oh, Weight Watches. This stock blows my mind. They call it WW now. They don't want to be associated. No, I say it almost sarcastically because that's what everybody, I heard analysts talking about today saying WW came out with their earnings. Man, everybody knows Weight Watches, but they don't want to be associated with that like diet weight pressure. They want to be about, you know, health. Well. And this is one of the most volatile stocks. I mean, it's just, you can bring it back to 2008. It was trading at $17. Go up to 2000 and... What's that? 11. It's about $86. Go down to 2015. Yeah. $367. Then it makes a monster run to 105. And that's where I think you had Oprah going there with a huge stake in 2016 at the Lowe's. Yeah. She became a spokesperson. She sold her stock. She made a fortune. I don't think she may have. Yeah. But... And then the ride back down, the ride back down, got it down to 16. And then we got up to 38. Now you're at 31. It's pretty... Can we get into the CN for their news? Oh, sure. Either way, you can jump around. Let's see what the revenue was. Yeah. They got 18,000 employees. So, $1.4 billion a year. $348 million. Yep. But look at... They're growing North America, continental Europe, all over the United Kingdom. Yeah. Something tells me that they, when that stock ran from 16 to 100, that they were factoring in more growth than 10%. Slightly. Let's see. Yeah. And that's where slight sales missed Disappoint Street after run-up. And that's where you're talking, you know? You price in a bigger beat, maybe. So, WW formerly known as Weight Watchers Tumble Pre-Market after the weight loss and wellness company, wellness company, third quarter sales and gross margin trailed the estimates. So, after a 29% interquarter move, quite a pop, slight third quarter revenue shortfall was not priced in one of the endless sales from Morgan Stanley. He dubbed the stock a show-me story and it's taking a wait-and-see approach. Yeah. Yeah. UBS agrees that certainly into 2020 even as WW is on track to end 2019 with more subscribers year-over-year and the stock fell 16% for the opening to 3122. Unreal. Yeah. Let's go take a look at the SMHs for a couple of targets out here. So, this thing has been on a tear. There's no doubt. You know, I believe yesterday it was probably another all-time high. You know, dying on the vine, but let me put this on a weekly for a second. Yeah. I mean, look at the streak. That's quite a vine it's had. If that's what dying looks like to be. Yeah. 107. 107 dollars. That's pretty strong, man. All the way up to 134. Pretty strong. Pretty strong. Yeah. And inside of this, I'm just curious as to the largest holding inside of this weight structure, let's see. So, 131. Okay. So, Taiwan semiconductor is 13.3 and Intel is 11.5. There you go. And then, NVIDIA. Yeah. ASML. Yeah. With those two, man. 20, it's about a quarter of the percentage between Taiwan and Intel. It's a big number. Yeah. Stay right there, folks. Tommy and I are coming right back. Our phone number is 877-927-6648. We're going to be coming back with our man, Teddy Kastat. Folks, we are going to be talking currencies. Oh, boy. There we go. 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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Visit our newsletters page by going to TFNN.com and click the Newsletters button near the top of the page. TFNN.com Educating Investors L-A-B-D Direction's Daily S&P Biotech Three Times Bull and Bear ETFs Visit DirectionInvestments.com Slash Biotech Today An investor should consider the investment objectives, risks, charges, and expenses of the direction shares carefully before investing. The Prospectus and Summary Prospectus contain this and other information about Direction Shares. To obtain a Prospectus or Summary Prospectus, please contact Direction Shares at 866-476-7523. 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. Welcome back, folks. Dio Dio's down 13. Nasdaq's off 30. S&P's a flat. Let's go over to our man, Mr. Teddy Cakes. That as we do each and every Wednesday at 40 past the hour, you can reach Teddy every trading day, folks, at 4X-trading-unlock.com. That's 4X-trading-unlock.com. Teddy Cakes, that what's going on? Good morning, guys. You want to talk about the end, your favorite currency today? You know what I'm so... You just picked this out of my head. I was going to stop with you because this 109, 29, 109, 30 is driving me out of my mind, man, because that number, if it goes over it, I'll be in trouble in the gold market. You know what I mean? I think that you might have a good shot at that happening. Okay. There might be some new highs. I think that might be something to definitely pay attention to. Yeah, no. It's charging into it. I mean, it failed the first time, right? It came up there again yesterday and now it's just laying there, right? Right. Well, here's something I want to point out to you. The dollar index looks like it's made a nice little turn except for the past couple of days. It's had a nice little bounce after it made some new move lows on the daily chart. Yeah. And, ironically, the yen, actually, where the dollar index has been trading lower since basically October 1st. Most of your major currencies have gotten a little bit of a lift in that period, okay? Except for the dollar yen. The dollar yen has been a bull in a falling dollar index. But we've had a little bit of divergence, though, because if you look at the yen chart, over the past couple of days, we've had a nice explosive rally off of that last higher move low. Yes. And that's all in the wake of a little dollar bounce, too. So they've kind of gone in tandem there. But I think that that's going to actually fall apart. The dollar index is going to fall apart, and then we're going to still see the yen go higher. Interesting. The dollar yen, that is. So when you look at the dollar yen, I mean, I guess my benchmark here is that 109.32. The last time we made it up to 109.29, yesterday you made it 109.24. Where are you looking? If we do break that, where are you looking that you might be able to run to? Oh, I think that if we breached that, I think that we're going to start to establish a new base. And I think we're going to be up in the 110, 111, 112 handle, maybe by the end of the year. Right, because that 112, that's the next area, right? That goes back to April of 2019, okay? Yeah. And it's going to take about a month and a half to two months to get there, I think. Yeah. Well, we'll see where that shakes out, man, because that would be a tough one for gold. There's no doubt about that. You've seen the reactions, yeah. The gold market takes conniptions, folks, when the yen gets weaker. Yeah. But it's good for your equity traders out there, because if the dollar yen is going in that direction, our exports will be doing better, you know? Oh, yeah, no, no, I'm with you there. And what are you looking at with the euro and the pound? The euro and the pound? Okay, now there, I think we're going to start to see a little bit more of strength, but not in that big of a volatile fashion, though. I don't think the euro can climb that high. I think the dollar index is going to keep on going lower, which will push the euro and the pound both higher. Brexit stuff, I mean, we're not even going to talk about that today. I mean, it's... Right? Why not? We got a full month of the election, man, plenty of time. We've been talking about it for two years. I know, three. Yeah, exactly. Especially after Brexit, not happening on the 31st. But I think this is good, though, because I think the dollar index really is your guide. Remember, we're heading into our fourth quarter. We're going into the end of the year. We're going to have a lot of balancing coming the end of the month, getting ready for year-end, you know? So it makes sense that right now we have a little rally to sell in the dollar index, which would push the euro higher, maybe get it back up to that, like, 113, 114, 115 area. But I don't... I see it being... Like, if you look at the range and the euro and, like, the Swiss, the Swiss is the only currency that actually gets any real range on a daily basis. And now we have the pound where it's floating underneath highs and its range is getting really tight. It always scares me when you see the pound having tight ranges, even in slow markets. Okay. Let me ask you, Teddy, when we talk, you know, at the end of the year with the balancing, right? How exactly does that work? You know, like, is it companies that they're going to bring dollars back and euros back? How does that work coming into the end of the year? Okay. Well, then, okay, that's a good question, because on the company basis, you do have a currency balancing where people may want to reposition themselves for January, especially with their books. Sometimes you want to end the year on one note in one way just to set yourself up for the beginning of your first quarter, you know? Okay. There's definitely a balancing, and that depends on each individual. Like, if, let's say, you're a coffee importer from the United States and you're coming out of Brazil or, you know, out of South America, you know, you definitely might want to have something to do with your contracts, depending on your positions and any type of deliveries you may have. Right. And then you have something like an auto manufacturer. It's a totally different case, you know? So... They all said the majority, I mean, I've read about it so many times, so the majority, whether it's large companies, they basically like to do that at the end of the year. I wonder if that's an order and what it's for. You know what I'm saying? To really get probably a better understanding of the balance sheet. I think so. I think because it doesn't matter what their accounting cycle is, they all go on quarter basis, no matter what. Yeah. So I think it's really for that purpose, you know? And then you have your banks as well. They do a lot of balancing, too, on month end and quarter end, let alone year. Okay. Okay. So... This currency business is a pretty cool business. I mean, it's been fluctuating pretty intensely. That's a real volatility. Yeah. Right. Yeah. But, like I said, I think that you're not going to see much of, like, in the year... I think the yen is where you have your biggest potential for swings on a daily basis and even on a trending basis because the euro, no matter what the news is, like, they tried to break it down and you didn't get any severe breaks. Like, it's only because we're looking at... It's the volatility's been so low that it looks like it's actually been swinging around the past, like, few weeks, especially. And it really hasn't been, you know? Yeah. If you look at the ranges. Right. Whereas the yen... Very much. The yen... How much in the game for you? Yeah. I mean, that movement, man. I mean, that movement, you know, has been when we're open, not even when, you know, the bottom line when they're open, you know, versus that's kind of intriguing and the aspect that there was more action yesterday when our markets were open versus their markets, you know? Right. So someone's buying it, right? Or selling it. Yeah. Well, it's getting weaker. Someone's selling it. Okay. Right. Pretty wild, man. No doubt about that. I'm with you with the gold trade, too. Like, I'm watching that as well. Like, I think that we're coming to a nice little friction point for that. Yeah. Well, you know, it hasn't broken a swing yet. I mean, it's so intriguing. The gold trade, to me, is just like the bond trade. It came down fast and furious. Right. But September 13th, that benchmark, neither one of them broke that benchmark. And the last two times they came down, you know, they basically came down and would end up happening with that baby. I guess gold is... That's October 1st. October 1st and the bonds of September 13th. Okay. You get the day on the head right there. October 1st was a big turning point for currencies, interest rates, and metals. Yeah. Yeah. So, you know, to me, when you kind of make it to the swing point, even if you get some juice behind it, it's like, okay, why not? That means that this buy is better sitting there, you know? And then, of course, the bonds. That's going to be a story that's going to be written in a huge way, you know? Right. Absolutely. It's pretty crazy. We haven't even talked about oil. Remember how we used to use to talk about oil? We haven't even talked about that in a while. For some reason, that's kind of off the table right now. It's tough to compete when other markets are rockin' and rollin'. But oil, yeah. And we just had, right? We just had the oil numbers steady at $10.30. It's like almost an 8 million barrel built. So we might see a little lower price today, but we'll find out, man. I'm happy every time I go to the pumps lately. Right? We were talking about Kevin Hicks. It's so true, man. I mean, it's a big deal. It's cash to the bottom line. Well, listen, man. You have a great one, a safe one, and folks who can reach Teddy every trading day at 4X-trading-unlock.com. Teddy, we look forward to having you next Wednesday. Thanks, guys. Happy day. Thanks, Teddy. You, too, man. Stay right there, folks. Tommy and I are coming right back. We have it out on 14. That's like a 32-SOP flat. Coming 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. 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Basil Chapman has just announced a live 90-minute webinar he'll be conducting for subscribers to his daily trading newsletter, The Opening Call, which will be taking place Tuesday, November 19th, from 5-6.30 p.m. Eastern Time, titled A Comprehensive Review of the Chapman Wave Techniques and Market Outlook Ahead for 2020. This is a great time to sign up for a 30-day free trial to The Opening Call while gaining access to Basil's live subscriber event taking place later this month. With some stock picks up 15-30% this year alone, Basil will review many of the Chapman Wave techniques that helped in their successful analysis, as well as providing the sectors and stocks that he thinks will be of importance heading into 2020. For all the details, check out The Opening Call on the front page of TFNN.com. The Opening Call will be taking place on the front page of TFNN.com. I didn't even catch that. You're going to start taking reservations Wednesday. This is pretty amazing, actually. It's not even that big. It's 4,200 square feet. Yeah, butler, chef, walk-in closet, styled by Nordstrom with clothes for purchase and an 11-foot high ceiling. Sweet guests can take helicopter rides to and from the airport. You better if you drop in $350,000 for seven nights. And speaking on big spenders as well, man, you brought up this story. So how about the Vegas nightclub scene? So the Palms Hotel closing down their club after putting in some serious money, so they took a $28 million write-off, and it's the Chaos Nightclub at the Palms Casino, and you have the Bertita Brothers. I believe that's the million-dollar buyer on that CNBC. Remember, he's the Houston and Rockets owner, as well. So bought it for $300. I think they own the Frightened thing, too. UFC? Do they? Okay. I'm not sure of that one. They may. $313 million. They bought it for, spent $600 million. The one thing I found interesting in here is that they talk about the nightclub patrons did not have spendable money. We didn't see a crossover into the casinos. Many times, that's what we've seen. They spent so much money to bring these DJs in. There's massive money, and the goal is, you bring them in. You don't even have to make money in the nightclub, right? You make money when people go out to the casino tables and drop $50 a hand on Blackjack or something. And just not there, man. They've been open for only eight months, and they're closing it down. Stay right there, folks. We have the TV Ameritrade Kevin Hicks coming up next. I'm Mr. Basil Chapman, Steve Rhodes. Steve Wright, back this afternoon. Thanks, pal. Thanks, man. Yeah! Go get them, folks.