 The following is a presentation of TFNN. Good morning, market kickoff with your host, Tommy O'Brien. Good morning, everybody. I'm Tommy O'Brien, coming to you live from TFNN Wednesday morning, just after 9 a.m. Eastern time. We got about 30 minutes to go until the start of trading and talk about a reversal from yesterday's fortune. Market accelerates higher yesterday, some big numbers to the upside. But just like that, you wake up this morning, market giving a lot of it back. You get the S&Ps down more than 1.5% right now with negative 58 points at 37.09. You look at the action in terms of where we were Friday, you had lows of 36.39. Pre-market over into Monday, Juneteenth holiday, you accelerate higher. We back things up to where we were yesterday around the open. You were trading at a price level at about 9.30 and things really just skyrocketed right out of the gate. 37.33 was where we were pre-market yesterday. You make it up to 37.83, so 50 points above where we even opened yesterday, even when we opened pretty dramatically in the positive. And then you trade off 90 from where we were last night just to the lows we made at about 4 a.m. Eastern time. Those lows below 37.00. You trade down 90 points from 37.83 to 36.93. Since then, small bounce didn't quite make it to the 38.2 in that index in the S&P. We're trading right now 37.08. NASDAQ 100, you're down a pretty similar 1.6%. Right now, the Dow's off 1.4%, Russell off 1.5%, almost the exact reversal of the type of move pre-market you had yesterday. Do we get a full acceleration to give back all of yesterday's gains? Because yesterday, coming into the pre-market, you had all the indices at about positive 1.5%. I think it was about 1.4 to 1.6%. They were in the green coming into the opening bell. They all accelerated higher. Maybe this is just the start of the pullback this morning. We're going to find out in about 22 minutes from right now. Bitcoin, flirting with 20,000 yet again. We were just under that number briefly at about 3 a.m. Eastern time. We're trading at 20,300. Ethereum, 1,081 this morning. And how about crude? We're going to talk to our man, Teddy Kegstad at 40 past the hour. Been talking a lot of crude. Crude, one of its first real healthy pullbacks in this market. You take a look at the daily. I've been talking about this trend line. Higher highs and higher lows was what we had been making. Quite a decisive break. You look at where we were. Remarkable, eight days ago, crude had a 123 handle. You're looking at a 102 handle putting it on a short term time frame from 116 down to almost 106 on Friday. And then yesterday's high, we were sitting at 111. You trade down to 10207. Excuse me, a little sneeze there. So that's always a good conversation at 40 past the hour on Wednesdays with Teddy. We'll talk to him. We'll talk a little bit of crude. We'll talk as well. Why don't we jump over to it right now, man? How about that dollar yen yesterday up to 136.70? You put this thing on a daily. Man, it just continues to strengthen pretty dramatic fashion over there on the end. We'll jump to gold. Gold right now up about $5.00. You take a look at gold on a longer term basis. Things just been chopping around between about 1750 and 2000. And you're talking about folks, which is remarkable. Almost two years that that's your trading range on gold. Now, you want to see a little bit of an even longer term time frame in terms of what you may be talking about here. Yeah, so potentially, right? You got an A leg of about 1200. You got a B leg of about 2100. B point, I should say that's 900 points. You take that off the 1700. That would be 2600 potentially where this consolidation goes. Remarkable dollar strength recently when that does top out when, not sure when, but when it's not an if, eventually that will turn gold. We'll see how it reacts then because, man, the dollar strength really has been hampering gold. And even with that dollar strength, gold just still chopping around in this consolidation area. Excuse me, back to the short term time frame. You can see the action this morning as gold jumps from 1825 to 1844. And we jump to notes and bonds. Yeah, we have a flock to safety right now as you got the tenure back to a yield of about 3.2%, I believe this morning. Let's check it out. What's that right now? 3.16 just like that as things continue to accelerate right now in the tenure. You actually hit a 117 handle. We're trading right now up 1.3 ticks from yesterday's action to 1.1628. So yields easing a bit as a possible recession looms in the near term. We will see. Okay, let's see what we got to talk about. So you have chairman Powell in front of the Senate, I believe today. And then he is in front of the house tomorrow. We have seven days left in the first half of the year. Remarkable, is that seven trading days? I believe it is. What do we got? Yeah, we got three this week, counting today. We got four next week. And then July 1st next Friday and we are off. We got another long weekend, which is nice. The weekend of July 2nd, 3rd and 4th on Monday for July 4th. You take a look at the numbers though. Markets down about 21%. I believe the number is right now. Where are we at? Let's see. Poise for the worst first half since Nixon. Yes it is. There it is. The index is down 21% since the beginning of the year amid expectations of a toxic mix of high inflation and the Fed gonna be ramping up those rates. There's your action so far today. And I wonder when this as of, as of the June 21st close, well guess what? That number's getting another 1.5% added to it or at least another 1% in terms of negative action on the opens. You're talking about a market down about 22%. You check it out first half of the year. That is the worst first half of the year that we've had since 1970. And it looks to beat that number depending on how the next this week and next week plays out. What I will say is that it's kind of cherry picking six months though because yes, the year end is December 31st. Obviously people are calculating year end returns. That matters, that matters when you're talking about hedge funds, et cetera. But it's kind of an arbitrary point in time choosing to some degree. For instance, you go back to 1987 and you had the market up 25.5% for the first six half of the year. So not necessarily indicative of overall performance throughout the year but nonetheless, we haven't had a number like this in a while. You go back to the recent numbers that we've had, take a guess what year they were. 2008, market was down 12.8%. 2002, market was down 13.8%. 2001, market was down 7.3%. 2010, 7.6. And you go back to 2020, it was down 4% for the first half of the year. Yeah, down 4%. I had to register that, pretty interesting. This one barely sticks out, right? 2020, you have 4% decline. How about the volatility though on 2020? And let's just take a look because that's kind of my point, right? You see a statistic like that. First, worst six months of the year since Nixon. And meanwhile though, the year 2020 shows up as a 4% gain for six months. You start the year at 3,200, you make it to 3,400, you go to 2,174 and you make it back to barely within even by July 1st. So not exactly indicative of overall market performance. It's quite a pullback, we're 21% down and the market's gonna kick things off down about 1.4% to kick things off with seven trading days left in the first half of the year. The VIX right now, trading at 3,106. We spiked to 85,47 when the pandemic first began. You take that one spike out of the equation and there your spike since, 4,444 was the spike after the initial. Since then, somewhere around 40 bucks, high 30s, low 4,116, but as you see, those spikes pretty much the high 40s. The recent one in May, 3,664. The most recent one in June, 3,505 currently sitting at about 3,106 markets floating with about 3,700. Stay tuned folks, we'll be coming back. We'll be talking about man, Kevin Hinks from Fast Market on the TD Ameritrade Network. Stay tuned, we'll be right back folks. At the time of booming inflation, we are purchasing powers eroded. There's no better place to protect your harder and money than in gold. This is the gold's flagship asset is the Mount Todd Gold Project in the Northern Territory of Australia. This is Australia's largest undeveloped gold project. We are talking a world-class gold project in a tier one mining district. This is a large-scale, low-cost project with significant existing infrastructure in a politically safe and friendly mining jurisdiction. 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Steve's award-winning newsletter, Mastering Probability, is delivered every trading day with updates throughout the afternoon. Sign up for Steve's Market Newsletter, Mastering Probability, and you'll receive access to seven of Steve's educational webinars absolutely free. At TFNN, all our newsletters come with a 30-day money-back guarantee, so you have absolutely nothing to worry about. Visit tfnn.com and try Mastering Probability, 30 days risk-free today. TFNN, educating investors. Welcome back, folks. We have the S&P is negative by 56 points right now. That's an even 1.5% in the red. We get the Nasdaq 100 off 1.3%. We've got the crude contract down $7, trading at $102.30 right now. Goal contract, getting some action as well, up about $6 and that 10-year. Up a full point in three ticks, we get the 10-year yield now flirting with 3.16%. Let's jump over to our man, Kevin Hanks. Every trading day, folks, at 12 noon Eastern time, right here on Tiger TV, fast market with your host, Kevin Hanks, Tom White, the team at TD Ameritrade Network. They break down the day's market action, walk you through hypothetical trade setups folks, if you ever want to learn about options and learn about defined risk trading, check out the program every day at noon Eastern time right here. Kevin Hanks, good morning. Good morning, Tommy. Suffering from a little whiplash this morning. As a big update yesterday followed by, well, at least to start the day, a pretty substantial down day here, Tommy. So yeah, this one, today's down day is an interesting one though because you hear me preach a lot about the U.S. dollars. U.S. dollars pretty flat this morning. It's crude oil and it's yields that are sharply lower, Tommy, but that's for a different reason. Another letter out today about the chances for a recession. And so remember what a recession does. It brings less demand for crude oil and it brings in more demand for bonds as stocks become less attractive. So, bond tire yields lower and crude oil sharply lower. Now almost 7% down, that brings a whole different alarm to start the day, Tommy. It is interesting that we're seeing kind of that, I don't wanna use the word normal, right? But that normal relationship between fixed income and the market, we're finally getting, you get a risk off day and you actually get a price rise in the price of the yield, you get lower yields on that result. But that's how it's supposed to work for the world, most part of this year, Kevin, we've seen the price of yields decreasing. So we've seen yields rising dramatically as you've seen the market tanking. That one's an especially tough one, especially for people out there in retirement, that 60-40 portfolio, that's been a really tough one. One of the worst starts to the year for that. And we got an S&P, Kevin, I didn't even realize, seven trading days left in the year, including today, we get three this week, we get four next week. And the S&P on pace for the worst start for six months since 1970, down 21%, and that was as of the close of yesterday, we had a lot of Fed speak, we have the chairman himself in front of, I believe the Senate today and the house tomorrow. What are you looking for, if anything, out of Chairman Powell's, just crazy action in the notes and the bonds and the yields and the market, just even off of their last meeting, you looking for anything or just the status quo from Chairman Powell today? Well, besides Drill Powell, we've got Thomas Barkin speaking three times today, Charles Evans speaking, Patrick Harker speaking, so a lot of Fed speakers, and Tommy, one of them is gonna make a headline, saying something, right? Someone will be quotable out of that group of speakers today, but Tommy, I'm gonna give your viewers something to think about. When you look at Kudo and what it's done the last couple of days, right? Guess what? That's gonna show up in the inflation data, right? With the inflation data, the CPI data dominated by energy, this move down to basically $102, it's gonna show up in inflation data. And that's gonna start to dispel some of the problems that we fear about this economy. So there is some positive to some of this movement. You've got yields going lower, which is will by definition make stocks more attractive. And that moving Kudo, remember the last couple of days, it's down probably $12, $13 over the last couple of days. Tommy, that's gonna show up in CPI data. Yeah, it's a great point, man. I got a chart of LightSuite crude up here on the Thinkorswim platform. And even on a daily basis, the last few days, yeah, down from what, 116 to 112, just the last almost two days. If you just go back eight days, so what day is that? Yeah, June 14th, so eight days, not even, and that's over a long weekend. We were up to 123, that's $21 and eight days, crude just pulled back to 102, 44. Pretty decisive break, gets us back. Remember that's what was it, 18, 17, 18%. That's gonna show up. It's gonna be like that. And it'll show up at your pump. That's even as a consumer this morning, Kevin, right? I said, ooh, 102, I like 102. We're talking about real money now. You know, I mean, gases at 575, it drops 20 cents a gallon. I'm still going, come on, you're kidding me, right? We got crude at 102. I actually mentally said, all right, maybe, maybe we get a real pullback on those gas pipes. We should now from 123, man. We'll find out. Yeah, we already have some of the Tigers and Tigris' in the den, Kevin. They're talking about Harker, some of his comments. Nothing too surprising, but to your point, they're in there talking about it already. That'll be interesting to see that stream of flow of data today, especially for the chairman as well. With all of that, Kevin, not many companies out with earnings, but we have some companies moving. What are you guys taking a look at at fast market coming up at 12 today? Well, because of the mood and crude all, we're going to look at Chevron in the first segment. So we'll look at CVX. And then FedEx has earnings tomorrow. We're going to cover them today with like folio. And then Airbnb. We're going to see what all these changes in flying and driving and gas prices have on Airbnb stock. That's, I like three great stocks, man. I've been taking a look at Airbnb myself. Quite the pullback, man. You were over 200 twice last year, $219.94 the high about a year ago. You trade well below their IPO levels, which is crazy. We're trading at 102.27. Strong company, but I heard you guys talking about it before, man. Those fees really adding up. I ordered Uber Eats the other night, Kevin, and I found myself blown away by the fees. Interesting, we'll see. Those fees though, they can add up on those Airbnb's in the long run. They changed the game though. Probably going to be a profitable company in a big way, but man, quite a pullback. Well, Kevin, we appreciate you taking the time every day to talk to us. We appreciate you taking the time for the education on fast market. It should be a good one today, man. We'll be watching at 12 Eastern time. Thanks for having me on, Tommy. Have a great day. You too, Kevin, take care. Folks, check it out every trading day right here on Tiger TV, the TD Ameritrade Network fast market. Kevin Hanks, Tom White, they break down the day's market action. You heard the stocks, they're going to be talking about three great stocks. FedEx as well, right? Some real volatility recently, man. From 319 to under 200, maybe that's a little bit of a base. You almost make it back to the 618 of the run that it had from May, which was a price level of 107 to 319. You're back to 230. You could technically start that Fiminacci level at the exact lows. And let's see what that one lines up. Yeah, that would have been the 618 a little bit lower at 177. Nonetheless, quite a pullback, but FedEx catching a little bit of a pop. I'm going to jump around real quick to some of the fang stocks. As we come into the opening bell right now, you got Amazon going to drop about two bucks, quite a pop yesterday. That's a weekly. Okay, let's put it back to a daily real quick. You see the action yesterday. We're going to open right back at 106, man. All these stocks, basically at lows. Yesterday gone. Remarkable, how quickly the tides can change for basically no reason, folks. You get 2.5, 3% up. You get 1.5% down. Why? Just because the market is really struggling to price the value of equities right now with so many variables in flux. Microsoft shares, you're going to open down about three, almost four bucks on the open from Microsoft shares. You jump over to Google. Google going to open down about 40 bucks. Let's see how Tesla's trading this morning. Down about $10 floating with that $700 price point. Netflix this morning. Yeah, about 169, 170. I had been talking about Roku a lot. Now they are just super volatile. But keep your eye, man. Roku has been overperforming in this market. Look at even today, right? The market gives back all of yesterday's gains, okay? Something's going on in this stock, man. I talked about it, you back it up. Roku is overperforming on positive days and they're not losing as much on negative days. You're only going to be down a buck 50 on Roku. Yesterday, you were up $8, you were up 10%. Take another look at this when we come back. Stay tuned, folks, we'll be right back. Which is the currency in bond markets. New subscribers get a 30 day money back guarantee so you have nothing to lose. 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Jumping back to the S&Ps right now, you're looking at an S&P that's trading down 47 points. So you get a little bit of a lift coming into the opening bell. We'll put it on a five-minute basis. Let me take the Sibonacci number off there just for a little bit of clarity. There we go. So we do pop a little bit. From 8.45, you were trading at 37.03. Right now you're down 1.1%. You were down about 1.5%. NASDAQ catches the lift into the open, down just shy at 1% right now, the Dow off 1.2 and the Russell off 1.5. Take a look at Roku real quick. I've been talking about Roku in general because of basically the value market cap-wise. We're sitting at $11.8 billion. They are the gatekeeper, folks, to streaming. And at some point, $11 billion, $8 billion, $7 billion, $5 billion, $15 billion, they do offer value to maybe a company like Netflix, okay? Now we're in the gambling business. This is a gamble. You just traded from 4.90 down to $87. But look at the action this thing had, okay? I mean, look at the last four days. All right? You back it up to 6.14. Roku was trading at 75 bucks, with 12 bucks above that level. We're 15% above that level where the market was on 6.14. You take a look at the S&Ps, okay? And there's where it is on 6.14. The S&Ps actually below that price level. Over that time, okay, Roku's had a couple days of eight to 12% gains on the pullback. You have the S&P down to full percent. Usually Roku is down like six, seven, eight percent. Roku, on par with the S&P. Meanwhile, yesterday, okay, you had Roku trade from a price level of 82 and close out the session at 89. So what's that? 9% acceleration yesterday. You give back 1% so far today. Anyway, thought I'd mention it because at some point I think that, just recently this run up folks on June 8th to 105 was speculation that Netflix was just even talking about or there were rumors around Netflix that they were talking about potentially going after Roku. That's where you saw a gap from 93 to 105 to about 100 the next day. You trade all the way down to 72 and you take a look at the last, what is that? Five trading days were up from 72 bucks to 86. That is a 16% pop. That's a 20, 20% pop. Now, nothing to say this thing can't go down to 72 or even lower, okay? But keeping in mind on Roku, you're flat already even with the action you had yesterday. All right, I'm gonna jump around a little bit to housing. So let me pull this one up for a statistic for you. Where are we? Let's jump to housing before we get into that ETF market. I wanted to show this statistic. This is a tweet. This gentleman, Lance Lampert, he works for Fortune Magazine reporting on the US housing market, okay? Fortune Education, Fortune Analytics. Interesting statistics. 20 regional housing markets have the highest share of list price cuts in May of 2022. Undeniable what's going on in the housing market folks, no matter where you're choosing, okay? This is the percentage of houses that had price cuts year over year, May of 2022 to May of 2021, and you see the rise, okay? We're talking about all of them are between about 36 to 47. Now these are the highest share of list price cuts, okay? Meaning that these are the highest numbers you could pick, but there's Tampa, man, a year ago, only about one in five houses on the market had a price cut. Now you're talking about 40%, almost one in two is that number, right? Some of the hottest markets out there in this list. Yeah, Northport, Florida, pretty similar action, 24 to 40% of Cape Coral's been a hot-out action market, 17 to 37. Now, that is not indicative of market crashing, okay? Maybe there's a little bit of panic there, but I think it's undeniable at this point folks that at some point there will be a real estate, at least pausing or slight pullback. I mean, it's tough, I see the numbers, they're looking for maybe a 10% appreciation this year, a 5% appreciation next year, just some numbers out there. I mean, that would be remarkable following the acceleration we've had. In Tampa, folks, you have markets up 35% in a year, right? You have a house that's worth 300,000 and in the next year it's worth 400,000. If you just tell me that that house is gonna grow a 10% this year to 440 and that's gonna grow 5% the next year to 460, I think that would be way above what expectations are. If you get a 10% then a 5% run after you get a 30 to 40% run in one year, because that would mean your house over the course of three years goes from 300 to about 465, okay? I mean, obviously you should be happy that type of action, but be aware of the indicators going on in that real estate market, that's one of them that stuck out at me this morning. Okay, talking about bearish bets and ETFs, dominating the ETF market like 2008 all over again. Trading and inverse ETFs is a quick-sing activity in bullish leverage products by the widest margin since the financial crisis. You take a look at some of the numbers to get into here and they talk about some of the favorites in the den there as well. The largest is the ProShares Ultra Short QQQ. SQQQ is their symbol, delivers three times the inverse performance of the tech heavy Nasdaq 100 Index. Its assets hit an all-time high of $4.1 billion last week. At the same time, the bullish leverage counterpart, that's the TQQQ, they're talking about that in the Tiger's Den as well, fell to the lowest level in more than a year. They're talking about a lack of conviction and they're talking about folks selling the rallies, investors, they're not buying the dip, they're selling the rallies, they're using bearish ETFs to do so. You can see the C change in sentiment. It used to be that they were buying the dip folks and we're seeing a play out right now. This article, let's see when this article is written. Well, it was written this morning when they already sold the bounce as well. But I was gonna say again, we opened a market that they sell the bounce last night. Now it's pretty remarkable, excuse me, that you sell the bounce when folks, here's the market, okay? And can you see my chart right now? There's the bounce. And they're still selling the bounce, man. You just traded from $41.50 down to $36.39. You bounce a pretty extreme number. You bounce, I mean, that one bar yesterday is 120 point S&P bar, but to illustrate the pullback we've had folks, that's 120 point S&P bounce. And we just traded down almost 1200 S&P points and still they're selling the bounce. Little bit worrisome for the economy and for the markets I should say when they'll sell the bounce just that quickly, basically on nothing. All right, let's see what else we got pulled up here. Shopify, they tap Twitter to boost the merchants social media reach. We're a Shopify company, it'd be interesting to see if this has any impact though. It feels like they're reaching here. They're adding Twitter to the growing list of social media partners as it aims to help businesses reach buyers across a range of online platforms. The more business Shopify customers as in Shopify retail customers, their customers creating store friends, the more business they do, the more business Shopify of course does. You jump over to Shopify. They're up 1.5% right now. There's a 15 minute action. They catch a bit on the open. They were negative with the market, but man, you take a look at this stock long term, right? Well below where you came into the pandemic, which is remarkable when you think about our lives changed forever folks. We are buying more online. We're doing more online, okay? Maybe for the foreseeable future, you want to get out and do things in real life as well after being shut down. But you came into the pandemic at a price point of about 400. You traded up to 600 before the market sold off on that pandemic. And meanwhile, Shopify almost cut in half from where it was trading in February of 2020. Talk about not even capitalizing on any of the growth. They are almost cut in half from the 593 price point that they were trading at the week of February 10th down from 1762, man. Can't overstate the pullback. Let's just see. I mean, some point this thing will catch a bounce. A 382 gets you up to 859 bucks. I don't think it's going there anytime soon, but that just illustrates how big the move has been. All right folks, stay tuned. You got the markets, S&P's down 32, Nasdaq 100 down 69. You got food trading at 102. We're going to be coming back, talking about Manitenti Kegstad. Talk a little bit of crew. We'll talk a little bit of Forex as well. Are you in the market for buying or selling real estate in the Bay Area, including the surrounding St. Petersburg, Tampa and Clearwater markets? 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Let's jump over to our man, Teddy Kegstad. Folks, we talk to Teddy every Wednesday at 40 past the hour here on the morning market. Kickoff, you can reach Teddy every trading day at his website, forex-trading-unlock.com. Teddy Kegstad, we got the first real crude pullback going on today in the last few days, man. Good morning. Good morning, Tommy. Yeah, the markets are pretty interesting with everything since what happened since we had our talk last week. That's for sure. It's always a wild week, man. I had been looking for a little bit of a crude pullback at some degree. But what do you think of the action of 102 right now? If we could kick it off maybe with crude, maybe price levels you might be looking at in this futures. But 102 right now, quite a pullback from 116 and 123 even eight days ago. Yeah, actually it's quite a sell-off in a very short amount of time. So I wouldn't read too much into this slide. I would think that this is probably where it's bottoming out. Maybe we may see a little bit more pressure. I don't think it's very sustainable along the long term. And another thing that we are kind of noticing that I looked at is the divergence between gasoline futures and oil futures. So gasoline is not breaking like crude oil is. So you're not going to see the pumps drop. Especially we've had a $22 sell-off in just a period of like six days. I mean the pumps have come back a little bit, but they're not coming that much back. So because if you look at gasoline futures, they're definitely hitting new lows too, but not even that remotely as severely of a slide. So I think you have to kind of watch how the gasoline futures work too. If there's not follow-through to the downside, then I think crude's pretty much going to start to find a bottom and probably get a bounce. So I think it's just an overzealous sell-off right now. I mean, the reality is that we have supply issues, demand. I mean, you have a lot of news-driven stuff because all of a sudden the news and the Fed is starting to talk about recession. Well, we were talking about a recession coming to hit us already six, seven months ago. So that's just finally getting the news, speak if you will. So I think they're getting the market jitters from that one, like buying bonds because of what's going on in the short run. But you're still coming off a brand new lower low in the treasury bond market. And the big thing is too, is if we would still need another three-handle rally to get above 130, 13803, that would take out the lower swing high in the bonds. We still have a little ways to go. Now, with the Fed chairman speaking today and tomorrow, remember that last week, he came up with follow-through after the initial three-quarter point rate hike saying that they're aggressively going after this. Well, unless he's gonna all of a sudden change his tomb and say like, oh, well, you're not gonna start cutting rates. What are you gonna do is say you're gonna stop raising rates to see how things now pan out. Well, that would be a big flip-flop in your decision process, especially when he shocked the market saying, yeah, screw you, I'm gonna keep raising really aggressively, no matter what. So I don't think he can change his tone. And if he does, that really gives us credibility. It turns it to Swiss cheese, as far as what's he gonna do in the future. So I think that right now, interest rates, they're bouncing. So it's normal to come off of the low with profit-taking, especially with this volatility. So I wouldn't read too much into it. And as far as with the dollar too, we had a little bit of divergence, it's getting a little dicey. So remember last week when we talked, I told you how I reversed. We got short the yen, the Swiss dollar Swiss, what happened in the two days since we spoke last week, that was such a drop. And that came just down to where we had found support just a few weeks earlier. So now I'm back on the dollar rally mode, if you look at the dollar index, it's wedging. Whereas you've had some spiking, a little strength and corrections in some of the other markets, the euro really hasn't bounced, the pound really hasn't bounced. The major move that you had really so far was in the US dollar Swiss. So I would key off of that one because as raised right now, right now they're buying the bonds. It's the invoke thing to do because of the news play. How long is the market gonna support that? Market's gonna do what the market's gonna do. So if it's only a news-driven rally going on right now, I would say that you're gonna see the dollar start to rally again very soon because this is just a profit-taking move. It's not sustainable. Yeah, I mean, I had a chart, I was jumping through the charts as you were kind of jumping around there. And the 30-year, I mean, yeah, it's quite a bounce, right? In terms of from 131 on last Thursday to 135. But man, I put this thing on a quick daily and you were trading at 160 just over three months ago. So you're trading down 34 points in the 30-year, just a remarkable movement in the bonds, in the notes of course. And yeah, jump into the end real quick. So I wanted to get to this one. You referenced it. Excuse me, let me just jump on to the chart. Where are we, come on. There we go. So yes, to get exactly where we were, that was what I would pull up on Wednesday, you're trading about 134 and change 135 when we talked to you last week. You dive all the way down to 131.48 on Thursday. And now we've actually gotten just slightly back above that level to 135.86. New highs yesterday, yeah. And so you're looking for bearish action there and the yen continuing with that sell off even with the bounce to kind of new recent highs or were you there? No, now, like I said, last week I reversed yours. And with that volatility in the Swiss, that made me want to hit that one was so oversold and then I reversed yours again. So now I'm long US dollar Swiss, long US dollar yen, I'm long, which yesterday I was on a short squeeze a little bit and that's now I'm finally longing the yen again, I'm short, excuse me, I am short the Euro US dollar, short the pound dollar, short the Aussie US dollar, short the New Zealand dollar, US dollar. So yeah, I'm looking right now for a dollar bounce. I think that as the index is wedging because of the divergence that's happened in the profit taking moves, I mean, the Swiss was the one that was the most volatile, but markets go out when they come in. So I think that if you look at how support held a few weeks ago, this is another good support area. And if that is the case, we're going back to parity. Now, probably parity quickly with the US dollar Swiss, especially if the interest rate market turns. So I think you probably have another three basis handles and the bonds before you're gonna run out of gas because that 138 level would be key. So if we can stretch it up there, I would say that probably tomorrow is when you're gonna see after the Fed, the chairman is done squawking around and questioning that that's when all of a sudden you're gonna see the trade come back and the dollar is gonna swing back, interest rates are gonna start going up again and that's gonna definitely drive the other currencies down against the dollar. And where do you, like let's say and this is like the million dollar question, of course. So you're looking for what, that'd be higher yields, right? You're gonna get the bond to trade lower in price after maybe you get the rise to 138. So you see a challenging that 131 low and going below that level where do you see like maybe that 10 year, right? Cause it's a nice little pullback in terms of yield but we've risen so much. We started the year off at 1.5% we're sitting at 3.15 now in the 10 year we were up to almost 3.5. We got about 30 seconds on the 10 year just cause that's what people follow most. What are you looking for in like the next few months for the 10 year as we're at 3.15 right now? You want a number. So I'll give you that number, right? Or a range. I know I want everything good. I want it all. I know, all right. For the 10 year I see it trading down around 108 to 105 as far as the handle basis in the next couple of months if not by the end of the summer. Perfect 108 to 105 we're sitting right now at 117. We had been as low as 114. Yeah, higher rates are common, man. Teddy, thank you so much for taking the nine minutes with us, man. We appreciate the education as always. And we'll talk to you next week, man. Thanks, Teddy. Take care. Stay tuned folks. We'll be right back to finish up the show. Sharpening your skills as an investor is like getting better at playing a musical instrument. 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For more information, just click the Think or Swim banner on the front page of tfnn.com. Welcome back folks and just like that, they're buying the dip. We got the NASDAQ 100 blowing a positive territory. I'm not sure if Chairman Powell might be saying something right now, let's see if we got any headlines because he's speaking right now before the Senate and the move we just got folks is about 200 points in the NASDAQ 100 from where we were on the open growth stocks trading hire. You just got an acceleration of the S&Ps from 8.30 this morning, we're up 57 points. You're about to go green across the board. The Dow's still negative by about 164. We get the Russell negative by 10. You jump over to crude, a little bit of a lift from the lows, 102.87 right now on crude. You get the gold contract up about $9 to 18.47. And we jumped to notes and bonds, still up a full point and six ticks right there on the 10 year. You're talking about a yield 3.15%, the yield on the 10 year. Man, just remarkable the move in these markets. You got to have quick finger strokes and NASDAQ 100 now up 33 points. S&Ps only negative by single digits. You're almost back to where you were at the close yesterday. Let's jump around to some of the fang stocks. Amazon just trades up $4, man. $4, that would have been an $80 move pre-split. You can't help but think about it, it's so recent. Tesla shares up 2.2% on that acceleration. You jump over to the big dog, Apple. Apple just trades up almost $3 from where you were pre-market. You're sitting right now negative by just nine pennies for Apple shares, Microsoft. Look at these moves, man. Woo. NASDAQ 100 now up 34 points as we come in. Let's check out how the VIX is behaving right now. Under 30 for the VIX, the volatility index so far on the open. We'll jump to some of the other stocks. Yeah, look at Roku, man. Roku's up 4% on the move yesterday. You know, it's tough when you have an index that's an equity that trades from 74 to 92, right? You're already up 18 bucks from that low. But keep your eye on Roku. You get another little pullback down to this area because it has been overperforming. Quite a market, folks, to say the least. All right, it's gonna be an interesting one. You got Chairman Paul Tessifying. We're gonna get a lot of Fed speak going on today as well. Stay tuned, folks. We got our man, Basil Chapman. He's coming up next. We got our man, Larry, live at 11, fast market at 12. You heard some of the equities. They'll be talking about FedEx, Airbnb. They'll be talking about there as well. I think they're gonna take a look at Crude. Steve Rhodes at one o'clock, Dave White at two o'clock. My dad, Tom O'Brien, five, three, two, four. NASDAQ 100, positive by 30, S&P's negative by nine. Stay tuned, folks. Basil's up next. Have a great Wednesday.