 The following is a presentation of TFNN. The morning market kickoff with your host, Tommy O'Brien. Good Tuesday morning everybody. I'm Tommy O'Brien, company alive from TFNN. Just after 9 a.m. eastern time, we got about 24 minutes to go until the start of trading and you got a little bit of negative action to pick things up this morning. As S&Ps, we trade lower into the close last night. We reach our all-time high. 51.57 in the S&Ps. You see that acceleration at about 230. You drive up to 51.57. We close out the session at what about 51.37. So you drive about 20 points lower into the close and just like that, we're about another 20 points lower. S&Ps off by almost half a percent this morning at 51.15. NASDAQ 100, we're trading lower. Apple, they got some problems in China going on folks. We're going to talk about it and boy, they are dramatic. Apple, a tough day for Apple yesterday. That's driving tech stocks. Of course, NASDAQ 100 down about 7.10 percent off 130 points at 18,131. The Dow right now off 149 points. 38,873 in the Russell rounding it out negative by 11 or half a percent. Bitcoin, you got an all-time high in the futures last night. 69,595. I think the prior record was 69,395 on the futures. Not sure how that correlates to the cash price. And it is interesting that there's a bunch of different, whether it's where you can trade it, right? So nonetheless, Bitcoin reaches all-time highs on the futures. You got to take a look at it longer term, man. Check out this chart of Bitcoin. Futures go live. How about it folks? Futures go live in 2017. It's 2024. Bitcoin futures. Remember that the first time Bitcoin futures went live? I remember it. Hindsight, of course, 2020, but you could actually short it in a regulated environment. Bitcoin goes from 20,000 to 3,000. We make a double top in 2021, and it's been a one-way trip since basically the beginning of 2023. You reach an all-time highs of almost 70,000 on Bitcoin. And yeah, we're back a bit this morning, but nonetheless, you see the acceleration. Three in the morning, we're at 66,000, right? Huge volume comes into this market occasionally. Maybe you get some whale selling, et cetera. Nonetheless, we're nearing 69,000 yet again. Crude, hanging tough near 78 bucks. We were just below that price point for a moment. We're back above 78 bucks at 78.37. Off of the highs of earlier this week and last week, we reached 80 bucks on Friday. We were above $80 again on Monday, so a little bit lower price. How about gold? It's not stopping. Nice round number, 2050. We just got up to gold, up $10 on the session. You just gave up 14 bucks though. A little bit of volatility right now at 8.30. You back things up on even a weekly. 2052 was the spike high on those futures back in December. We just hit, excuse me, 2152 was the spike high. 2152, we just came within $2 of that all-time high on gold at 2150 right now. Nice round number where we traded to. 2150, I guess, technically. Nonetheless, gold higher yet again, and we jumped to notes and bonds. And what do we got? We got a continuation of what's been going on. And that continuation is higher price and lower yield. And boy, if this is an A to B, C to D formation, you're talking about ballparking 105 to about 113. That's an $8 A to B leg. You back things up to about 109.5. That's putting you at 117.50. That is, if you start to get higher price and lower yield, the Fed is still at what, five and a quarter to 5.5%. We have their meeting two weeks from tomorrow. All expectations are besides a shock to the market, or maybe we get some absolutely shocking data on Friday for non-farm payrolls from the month of February. But outside of some kind of tail risk shock to the market, no changes will be made to the rate coming down two weeks from tomorrow. But nonetheless, it seems like eventually we will be getting higher price, lower yield coming at you in this market, even if it's going to take a lot longer than the market anticipated at one point as we got quite ahead of itself on that first run, which was basically from October, even back it up even further than that, right? In terms of, you thought we bottomed out towards the end of 2022. And then you get slightly higher price. You bottom out again in October. We rise, and nonetheless, we're rising again. You put this on a 15 minute. There's your higher price. There's your lower yield. And that is correlating to a 10-year yield right now of 4.16%. As we approach the 4% boundary line, yet again, 4.16 just like that on the 10-year. You jump over to the dollar index. And what's that going to do? Well, it's going to bring a little bit of weakness into the dollar, but all things consider, look where we are. We're just right back to where we were yesterday. Compare that to what I just mentioned in the 10-year, right? You're talking about higher price, man. The 10-year yesterday was at 110.22. We have a 111 handle. And meanwhile, you get the dollar index right now. Chopping around at 103.85. You jump over to the volatility index as we get a little negative market action. The VIX spiking a bit to 13.85 as market participants paying up for a little bit of volatility premium in this market. Okay. This may be the big one of the day, man. Let's see how this one drives Apple. No longer the biggest company in the world. And boy, they got problems. And it's a tough time to have problems when everybody else is accelerating on the future. Promise of potential AI. Apple, obviously they'll benefit from AI in some capacity. But how about a 24% sales plunge in China? And what do you got? You got Huawei shooting up to second in sales with a 64% increase, man. Those percentages are just bonkers when you think about the millions and millions of phones that they're selling in China. Yeah. China's mobile market shrank by 7% in the first weeks of the year. So these numbers are over the first six weeks of the year. That's what we're talking about here. So basically they bring you only through the middle of February. So you're talking about three weeks old data, right? We're getting data up to basically the middle of February for that. Three week old data, 24%. Therefore, remember they put out, they had a price cut in China. One of the first ones they've done in a while, a while back. Yeah, you better believe they're trying to show up a demand problem over there. And it would be interesting if you're talking about a monumental shift where Chinese citizens, Chinese residents, citizens start flocking to maybe Chinese brands versus just American brands over there. And what do you have happening? Yeah, it's a continuation of the run yesterday. Apple got clobbered yesterday. You're getting clobbered yet again today. You're down by $4 at 1.7120. What's that going to be? A hit about 2%, 2.5% for Apple shares. And just from where you were a week ago, folks, yeah, that's last Tuesday. You were at 184. We're at 171. That's $13. Apple's got 15.4 billion shares outstanding for simple math. Let's just call it 15 billion shares outstanding. They're down $13 from where they were last week. That, folks, is approaching $200 billion in market cap loss in a period of five trading days. Talk about it, man. Remarkable. You got a China problem? Well, who else does business in China? Tesla. They got quite a problem as well. And keep your eye on the fact, man. If this stock, as it approaches $100, Elon Musk approaches a margin call. You're going to start hearing a lot more about that story. Hopefully we get some bright analysts, some bright minds, some bright accounting minds that break down the exact math of where that margin call is going to occur. Because, boy, can you imagine being a short and salivating over short-squeezing Elon out of Tesla? It's a potential, folks. It is a vast potential. You're trading at 182 right now. China's got a big problem going on. And we see it in Tesla. We now see it in Apple. China's out with 5% GDP numbers. They seem lofty at best. Yeah. I mean, you got it across the board. iPhone assembly partner, Hanhai Precision Industry. 18% slump in sales over the two months of the year. Yeah. The handset accounts for more than half of Apple's sales. And you put it. If you're looking for potential trading setups in the stock market, then Rocket Equities & Options Report is a newsletter you should try. Tommy O'Brien delivers options and equity trades when the markets present them, using a combination of fundamentals and technicals. 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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, 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're at S&P Futures right now, approaching pre-market session lows. We're down about 24 points. That's about half a percent. You get the NASDAQ 100. We're down about 7-10 percent right now. We get Apple Trading Lower on the China News to talk about some of the market action this morning. Let's jump over to our man, Kevin Hinks. Every trading day, folks, 12 noon Eastern Time, put it on your calendar. Fast Market from the Schwab Network. Kevin Hinks, Tom White, the team at the Schwab Network, they break down the action. They walk you through hypothetical trade setups, folks, using options. Every hypothetical trade setup they got going on, defined risk. And boy, we got some markets moving this morning. Kevin Hinks, good morning. Good morning, Tommy O'Brien. Yeah, these markets are showing a little fatigue on the upside here, Tommy, after such an incredible run. 16 of the last 18 weeks, this market has finished up. So a pretty historic run here, but market looks a little fatigued today with some more Apple news. Apple, you know, Tommy, that I'm such a big fan of the news cycle and how the news flow comes out in Apple. There's just full-court press on Apple right now in terms of bad news. But on the other side, yesterday's market looked relatively calm because NVIDIA was up 40 or $45. So kind of an interesting market we got going on here. But today, at least to start the day, weaker for sure. Yeah, NVIDIA. It's quite a show we're all watching, man. I was looking just even yesterday. I can't remember. We're all paying attention, of course. Pretty remarkable. Up to $8.76.95. I got it on the Thinkorswim platform. We were at $7.69, almost $100, just from where you were on last Wednesday. I got up here. Pretty remarkable. Some pretty stark numbers for Apple, as you mentioned, man. They're going to be down a bit. You got Tesla down a bit as well. All things considered, we're still above $5,100 in this market, Kevin. We got jobs numbers on Friday. We got Chairman Powell Wednesday in front of the House, I believe, in the front of the Senate on Thursday. We got some earnings with kind of a big week of data coming down the line right now with especially the chairman speaking and one of the biggest data points on Friday. What do you think of this market, as you said? Maybe pausing a bit, but are you looking for anything from the chairman this week? Are you looking for the jobs number on Friday? How are you kind of approaching this week with a few different things on the calendar as we approach only Tuesday right now? Well, the real question is, how does Jerome Powell describe the current U.S. economy as we look towards, you know, if you listen to the rhetoric coming from around the financial markets, rate cuts are starting to melt away and you're starting to hear the rhetoric now of no rate cuts this year. So how will the market handle that? Remember, we started with six, leaning towards seven. Now we're three, leaning towards later in the year, June or later, and now the momentum is in some ways going the other way in terms of how many rate cuts to maybe none or later in the year. So I think the thing the market has to deal with is that and does Jerome Powell come out hawkish because of the strong economic data that we've been getting? Boy, bonds are certainly strong this morning to start today, so the yields are coming down. That'll make it hard for the market to sell off unless, of course, they're rallying because the market's down. I want to watch that relationship play out. Yeah, a lot's going on this morning with a back-weighted earnings and data forecast. Yeah, it is interesting. You put it in that context. I got the 10-year appearance of the thinkorswim platform. We're up another 13 ticks. We got a 111 handle. I think I saw the 10-year yield about 4.15%. Pretty interesting that we're actually approaching 4%. Again, as you said, the conversation right now is, man, this economy is pretty hot and tough to make the case, I think, justifiably so. If your two mandates are full employment and price stability, man, this economy is on fire right now and price stability a little bit in question, as I think we all know with some of those recent numbers that we've gotten, whether it's the CPI, some hot numbers out there for sure. With that in mind, Kevin, we march on. You mentioned it a little heavy and later in the week, but what are you guys talking about on fast market coming up at 12 today, Kevin? Three good earnings, please, Tommy, to look at today. Crowdstrike is our first stock. Well, that's coming out with earnings after the bell today. Then we'll look like fully old-do presentation on Abercrombie and Fitch. They have come out with earnings tomorrow morning before the open. So we'll look at that high-end retailer and then Rothstores, the discount retailer. That comes out today after the bell as well. So two, three really good earnings plays today, Tommy, on fast market. And look at all those charts, man, as I was going through them. They are rocket chips, man. I got them on a weekly. Crowdstrike, I got $92 at the beginning of last year. We're at $313. Abercrombie and Fitch, my goodness, man. $137 from like $20 in Rothstores. They're trading higher throughout. A little bit marginal, but we look forward to it, man. Remarkable charts. Kevin, I appreciate the time as always, man. We look forward to the program at 12 o'clock today and we look forward to talking to you tomorrow morning as well. Have a good day, Tommy. You too. Folks, check it out. Fast Market right here on Tiger TV from the Schwab Network. Every trading day, 12 noon Eastern time. I've learned so much myself over the years. And check it out. It's a great time, man, as we've got a lot going on in this market. A little bit of negative action to kick things off. But guess what? Not NVIDIA. Even NVIDIA on a day like today is still positive by a dollar. We'll see if we hold on to those gains. They were down to $835. We're trading at $853. You closed yesterday at $850.237 for NVIDIA shares. Pretty remarkable, the acceleration of this thing has happened, man. I talked about it in yesterday's program. We're now past a one-to-one expansion. As in your A to B is 100 to 500. You pull back to a low of about 400. And we've done another 400 plus point move. The 400 point move got you to 800. We've gapped away from that area. And this morning we're flat. And we're flat with a negative market right now. You jump over to AMD. They were soaring higher yesterday as well. This run pretty spectacular as well. But AMD a little bit lower this morning. Giving back some of those gains. AMD down about $4. But they have their own deal going on as well. As we're going to talk about Apple in a second. But yeah, this one out last night. I was reading from Bloomberg. So that maybe is what's weighing a bit. AMD hits a roadblock in selling AI chips tailored for China. This is going to be a headwind for these companies, man. China is not going to want second grade chips. And if they're good enough chips, the U.S. isn't going to want to sell them to China, justifiably, right? You have NVIDIA coming out with almost a second tier level chip to get around some of those parameters that the U.S. has set up to limit in terms of what can be sold to China. And AMD had hoped to gain a green light from the Commerce Department to sell the AI processor to Chinese customers as it performs at a lower level than what AMD sells outside of China. But nope. U.S. officials told it must obtain a license from the Commerce Bureau of Industry and Security in order to sell it. The people said, yeah, so there's been a roadblock there. Yeah. And this is going to be a big battle, folks, and it should make sense. This is the future of everything. So selling all of these chips to China, it merges with the, I mean, how do you have a defense department, right? Not to get too macro, but how do you have a defense department if AI controls the world and you got the company selling China the best AI chips out there? It's pretty simple, man. A 2022 U.S. ban prevented both Nvidia and AMD from selling their most powerful chips to China, forcing them to find workarounds. Nvidia immediately responded. AMD has not yet publicly discussed its efforts to develop a new AI processor specifically for the country. Yeah, nonetheless. So AMD a little bit lower. You open at 201.50 or that about. We got about three minutes to go until the opening bell. We jump back to Apple, as I mentioned. So Apple, down five bucks, you're still dropping on the open. Yeah. Apple of this one, man. If these numbers were ever in America, the world would be flipping out right now. The market would, at least. You take a look at these numbers, okay? Check out the percentages. Huawei is up to 16.5% market share from 9%. And in that same time, you've had Apple drop from 19 to 16. Just a mammoth shift and the market's going to pay attention to that. We'll be right back with the open, folks. Don't go away. Are you ready to take charge of your financial future? TFNN is your gateway to the world of trading and investing. Whether you're starting out or scaling up, TFNN empowers traders and investors of all skill levels with top-notch investing systems, strategies, and techniques. It's time to protect and grow your money with insight you can trust. Join us live Monday through Friday during market hours for exclusive content that moves with the markets. At TFNN, we bring the trading floor to you. Our seasoned hosts are here to answer your calls and questions live on the air. Check out the Tiger's Den for just $1 and follow us on YouTube and become part of our vibrant community. And remember, at TFNN, we're so confident in the value we provide that we offer a 30-day Maybach guarantee on all new premium newsletter subscriptions and services. You have absolutely nothing to risk, so why wait? Tune in live to Tiger TV and transform your trading journey because when you know better, you invest better. Join us and experience the difference today. 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We've got markets open. S&P's down about 22 points. NASDAQ 100 off 144. We take a look at Apple off 2.5% to kick things off on that China news. Jumping back to that China news before we move away from it. This is the last one I wanted to show, just an illustration at the end of this article in Bloomberg here. So the whole mobile market declined by 7%. China's got a problem. They're out there putting 5% GDP growth up. There is their goal. China is not in the business of under-promising and over-delivering to the same degree that most public companies are. They're going to try and tweak those numbers the best of any country out there, almost okay. But they can't hide the truth when it's this big in terms of, you've got a 7% decline. We'll see how their GDP numbers really come in in terms of the crisis they have going on over there overall. But boy, within that industry, my goodness. Huawei, a 64% increase. Okay, and look at all the other players. Apple being down 24%. Just mammoth, man. I don't know. Yeah, it's a big number and I imagine Apple's going to have a lot of volatility digesting that today. We jump over to Target on the flip side of that. Target shares surging higher as they reduce inventory numbers and they even get a pop on the open. Look at that. You're up by $18 for Target right now. You closed yesterday about $150. You're pushing $169 this morning. You're up by 12% almost. You put this on a weekly and we're kind of back in this consolidation area you had from that initial vast drop-off from May of 2022, man. That was quite an earnings disaster, right? That's a weekly chart. But boy, you trade down from $220 down to almost $160 and what's happening. That's the first time we're back in this bar, man. That low was $150.89 of that bar, okay? May 2022. It's March 2024. It's taken us about two years. You made it all the way down to about $100 and we're finally back in that bar and boy, you're going to have some work to do to get back through that bar. The higher boundary is about $180. You got there in August of 2022. You got there in November of 2022 and we had some earnings volatility as well. And then we got back up there in January before the slide really began last year. Now getting into the numbers for target. They're getting rid of inventory, which the market likes for sure. They're not going to have to reduce those prices if they're getting inventory rid of inventory. Earnings per share 298. Above estimates, comp sales declining 4.4%. But that was a beat as well. They fall for the third consecutive quarter. The bucket knew that was going to happen though. And they talk about, here we go, target reduced inventory by 12% for the fourth quarter. That was a better number than what the market was looking for as well. Meaning the retailer has less risk associated with markdowns, right? Store and digital traffic down 1.7%. That was better than the 4.1% they had the previous quarter. Digital sales declined narrowed and lower freight and supply chain costs helped boost profits. It's a pretty big number all around when you look at it. They expect comp sales to range from unchanged to up 2% for the full year, reversing a lengthy slump. They're looking for earnings of $860 to $960 a share, both forecast roughly in line with the estimates. But nonetheless, man, the market, thinking maybe that's a little bit of a turnaround, you pop higher by about 10%. You're higher by 10.9% for target shares to the upside. We jump over to Walmart. They're getting a lift on those numbers as well. About 8.10% right now up 50 pennies to $59.80. These stocks have performed wildly different. Now, Walmart's just following a 3 for 1 stock split, right? The stock was approaching $180 just recently. They go 3 for 1 to bring it back to a more reasonable number for whatever reason and they are pushing $60. That's an all-time high for Walmart. You look at that chart going back three years though, okay? Now, what's interesting is, remember, I just showed you the chart of the falloff in May of 22 for Target, okay? Target just got back into the bottom of that bar and look where Walmart is. Just mammoth different in how they've just outpaced Target shares versus, that's Walmart. Then you take a look at those Target shares. As I said, yeah, it's taken them a lot longer. They're in a different spot. Walmart making the most of an opportunity where inflation is raging and people are looking for price advantages to save money and Target's not the spot you do that at. Not even close. I love Target. Go there with Tommy all the time. I'm sure you know that if you listen to the program. Love it. I try not to do too much shopping there. That's the bottom line. Try not to. They are not cheap. Everything's a little expensive at Target. I enjoy the experience. It's kind of our Toys R Us experience. I talk about it. We go in there. I get myself a Starbucks maybe. We'll walk around. Tommy plays with the dinosaurs. He plays with the toys. I plays with the Spiderman toys in there. We don't got Toys R Us anymore, right? Remember those days? You'd run through Toys R Us. They had video games at all the end of the aisle stuff like that. But boy, I am hyper aware of the costs in Target, whether you're talking about whether it's just clothing, food especially, you're overpaying. And listen, I love shopping at Publix. And Target still sometimes is more expensive than Publix. And I know Publix is expensive. Nonetheless, Target, a little bit of a turnaround there. They drop their inventory by 12%. And the one thing I will say, okay, is that because I'm so aware of this chart, this equity and the anecdotal experience of being in the store, sometimes we go there two, three times a week folks, Tommy loves it. He plays with all the toys, right? Not enough to buy them. We get out of there most of the time without even buying anything. He's got plenty of toys at home. Don't worry. But what happens is I'm constantly seeing the aisles, okay? Especially in the toy section. And it's interesting that you could almost feel they're trying to get rid of that inventory. They got a little bit of staleness going on. But guess what? They had to make that happen because they're trying to get rid of all the inventory that they've been stuck with, as opposed to having it marked it down. And occasionally I see some things go marked down, but it is interesting where I say, man, they got to refresh this a bit. And that's why they can't do it just yet. So maybe a couple of years through that journey, they're turning that corner and you're back within that bar of May of 2022. But it's going to take a little headwind, I think, to get through that, man. You got some real selling that took place. You got a lot of people in Target that would have been in a negative position for a period of time. And as you approach that, whether it's 180, which is the higher boundary recently, or you start getting into the $200 range, that was the lows of 2022 prior to that fall off in the middle of the year. All right, we got markets picking up steam to the downside. Let's see how Apple's doing. As you get the NASDAQ 100. Now down 200 points and Apple's not the culprit just yet. Let's jump around to see what else we have going on. Amazon shares now 1% right now to $175.66. You jump over to Microsoft. There's a haircut for you. Microsoft on the open just drops four and a half dollars, make it five bucks almost, as we got a little acceleration to negative prices going on. Google shares, they actually catch a lift on the open up by 4 tenths percent. You jump over to Meta. Meta shares down by 1% right now. And you jump over to Tesla. Tesla's trading at $182.34 down 3% as the pain continues for Tesla. All right, we talk a little bit of big picture. If you can't quite figure out where this market is going, don't worry because the market has trouble right now as well. As JPMorgan and Goldman right now are a little bit of a disagreement. JPMorgan sees froth while Goldman sees rally justified. Okay. You have one analyst warning that equities in Bitcoin are rising too fast. You have another analyst over at Goldman saying the valuations are supported by the fundamentals. You get to the side. You get two camps. Which one are you going to be in, man? There's two big camps and, you know, I just really wanted to pull it up for this one, man, because there's a reason why I jumped through all these charts, right? In terms of Microsoft, Google, Apple, Amazon, Meta, Tesla, Nvidia, of course. As I say that, let's see how Nvidia is trading on the open. They were basically flat coming into the open and they hold on to those gains right now, even with a negative market. Nobody wants to sell Nvidia. Pretty remarkable. And how about that? The red is the Magnificent 7. The black is the S&P 500. The blue is the S&P 500 if you take out tech. That's quite a chart, man. You better keep your eye on those Magnificent 7 if we're going to continue this run. Stay tuned, folks. We've got a lot to talk about as well. We're talking banks when we get back. Stay tuned. Are you ready to take charge of your financial future? TFNN is your gateway to the world of trading and investing. Whether you're starting out or scaling up, TFNN empowers traders and investors of all skill levels with top-notch investing systems, strategies, and techniques. It's time to protect and grow your money with insight you can trust. Join us live Monday through Friday during market hours for exclusive content that moves with the markets. 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A fund's prospectus and summary prospectus contain this and other information about direction shares. To obtain a fund's prospectus and summary prospectus call 866-476-7523 or visit Direction Investments.com A fund's prospectus and summary prospectus should be read carefully before investing. An investment in the fund 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 for side fund services, LLC This program is brought to you by Vista Gold, traded on the NYSE American and TSX under the symbol VGZ. Folks, you're getting the video shares. Up another $4. We're up by half a percent right now. You jump to the S&P's, negative by 26 points. You see the acceleration on the opening bell, down to about 51-10. We jump over to Bitcoin. Hang in tough near all-time highs, man, $68,840 for Bitcoin. Crude right now, bouncing off lows near $77.50. We're trading back above $78 at $78.54. We keep our eye on gold, $21.37. Gold up about $11 on the session. We hit a high of $21.50.50 earlier in the trading day. And then we jump back to yields as we get the 10-year chopping around above $107. Excuse me, chopping around above $111 right now. As we're at $111.05 with the 10-year yield correlating to about $25. All right. I said we're going to talk a little bit about banks in New York Community Bank. They're back in the highlight and they don't like it, man. How about yesterday? Right? Down from 360 to 270, percentages on small numbers can be deceiving, I always say. And yeah, you're up by 9% today. Well, guess what? You're trading at $2.98 on an equity that was trading at $14 back in July and an equity that was trading at $1.50. Okay. As the financial crisis of the banking sector in March of 2023 was unfolding. Now, what's so remarkable is this cap here from March 17th, which was a Friday to March 20th, which was a Monday last year. Okay. That acceleration was when they came out as the ones that are going to buy signature and save the market. All right. Now, what's so interesting is the headlines and what I take away from this is and it's not lies. It's just that, you know, optimism is the spin when you want to make sure it's a self-fulfilling prophecy as in you always hear that the banks are safe. Okay. Why did they choose this bank to take over all the assets from another failed bank if, as this headline states, real estate warnings in years before the fall. Okay. They follow them on the 70% this year. How it happens includes mis-signs, new laws and changing indicators. Nonetheless, man, you only have to go back to May last year when they picked up signature. Okay. And that's not what did this company in. But if the writing was so clearly on the wall of the struggles that they were going to have, okay, these new rent restrictions in New York where they have a tremendous amount of their exposure were passed in 2019. And somehow this is it keeps getting cited as a massive problem for this bank and rightfully so. Okay. So they had a new bank star and then they had parts of signature doubled the firm size instead it on a collision course with new rules for banks holding more than $100 billion in assets. Well, why did they do that then? Right. And you had the Fed coming out saying this is great. Everyone's good now. Okay. We got the bad banks picked up by the good banks. I mean, geez, it looked like they were they were a huge winner there. You went from six bucks. You buy the assets. You open at nine the dollars. Well, no, that's not the case. Things are not as rosy as they seem. Okay. And yes, they have some isolated issues on their books. Their exposure to rent control buildings in New York is through the roof. They do. They have no diversification for all intensive purposes when it comes to that. And yeah, so they have some big problems going on there. But nonetheless, I'll post this one of the dent because it's an interesting one that kind of walks through. This is the big take, I believe. Right. Is this morning, man? But what I take away from it, okay, is where were these articles when they were taken over signature? Right. Where were these articles? These articles aren't talking about what's gone bad since May of last year. We already had everything in sight in terms of what's been happening. These articles are talking about before that was happening. Okay. Now, the pain didn't show up right away. I'll cherry pick one article. Despite predictions that new rent rules would lead to losses for landlords and their tenants. Yeah, they're the lender. Okay. New York Community Bank's level of troubled loans hovered near record lows in 2020 and 2021, perhaps helped by the rock bottom interest rates and the government's pandemic response. Well, when they took over signature, the problem already was that rates had risen dramatically, causing signature in Silicon Valley banks, so many problems. Yeah, so they have some problems, man, and it's not stopping. And anytime you see this type of a shock, okay, when they took over signature, you wish you got out. That was 100% above where we're trading at right now. You were trading down to $6 that day before you know what you were down to four. Yesterday you were down to 270, and today we're sitting at 288 for New York Community Bank, man. They got some issues, and some other banks might have some issues too, but not J.P. Morgan. Do you find charts better than this one, man? It is a one-way trip remarkable from the October lows of 135. J.P. Morgan up another two-thirds percent today. You jump around Bank America. They're up from 24 bucks on those October lows to 35. You're up another half a percent for them as well. Wells Fargo up. We'll call it 1%. A 0.94% for Wells. We jump over to Citi up about 0.8% as well as we get tech stocks. Continue the slide. NASDAQ 100. Down about 220 points. That's a slide of 1.2% Yeah, Apple off 2.6% off $4.60. That's going to hit the market. We've got all of them, right? Amazon down a percent right now. Microsoft down 2% right now. You jump over to Google shares down a percent. Meta down a percent. Tesla down 2.3%. NVIDIA? Uh-oh. We might have problems, man. NVIDIA. Actually making it into the red. Half tongue in cheek. Half not as this market, as you know. Alright. What else have we got going on? Yeah, we talked about the China 5% number, and this is just talking about it. This is an article out last night. China sets a GDP goal that needs policy support from all fronts. That's kind of what I was alluding to. Just want to break it, right? When I said China, they can try and tweak those numbers better than anybody, and they're going to try to. But boy, there's a lofty number, especially when you see what's coming out in terms of Tesla's got some tough problems going over there for demand problem right now. You saw the entire market for mobile phones is shrinking by 7%. Even as Apple loses 24% market share the entire sector down 7%. But yeah, they're talking about 5%. It's a quote-unquote ambitious goal that will put pressure on the nation's top leaders to unleash more stimulus as they try to lift confidence in an economy hampered by a property slump and entrenched deflation. So watch out for that one, man, on China. Because the government's already been trying over there, man, and they got some real issues as you go over in terms of where we go forward from there. All right, we got a caller. We got Mike from beautiful Somerville on the line. Mike, good morning. How we doing this morning? Hey, Tommy, how you doing, pal? I'm doing fantastic, man. Great to hear that voice. How's your day going, man? You know, I almost said Tom, and I just don't know if you saw me put the E at the end, Tommy. I almost said Tom. I go by both, man. Tommy flies, Tom flies. I know. So, you're talking to me. I love it. I love it. I love it, man. So, we're talking bulls. My day's going good. It's a little bit rainy here, but spring is almost upon us over here in old Boston Mass. Hang tough, man, right? Those beautiful spring days in Boston whenever all the kids are out enjoying, you know, you're always down here in Florida, right? You're rolling around in blankets and pockas, some good old pockas. I mean, you know, in Boston, I remember running out at 60 degrees, man. You're running out in shorts and a tank top. You feel so good as the spring days approach. But what are you doing with gold? What are we doing with gold, Mike? Everyone's talking gold, quite a chart, man. What are you thinking? What's your question? What are you going on with gold right now? You know what, Tom, I sold last night the after hours. I had GDXJ, I had J-Nug, and I had friggin' I just couldn't, listen, so hang with us for the break, all right? You, you can't go wrong taking a profit, Mike, at the run we've had, but we'll talk about it. Let's talk about it after the break, all right? Steve's doing, folks. We're going to talk a little gold. You got gold right now, up $10 on this session at 2136. We're coming back with our Matt and Mike from Summaryville, don't go away, folks. avenues to hold the most effective safe haven and hedging properties across the global major hubs of the London OTC market, the US futures market, and the Shanghai Gold Exchange. The Gold Report Tom O'Brien publishes his weekly gold report every Monday morning for subscribers, consisting of coverage of the XAU, HUI, GDX, the dollar, bonds, the South African RAND, as well as 25 different mining equities with specific buy-sell recommendations. The Gold Report New subscribers get a 30-day money-back guarantee so you have nothing to risk. Subscribe to Tom O'Brien's Gold Report newsletter now at TFNN.com. You might think that if you want to be successful at trading in the stock market, you're going to need a crystal ball. After all, it's impossible to predict the future, right? Like any endeavor in life, before you decide it's impossible, get some advice from the experts. You might find that it's not so impossible after all. For daily market overviews that give you direction on the key indices, selective stocks and commodities, subscribe to the opening call newsletter at TFNN.com. The opening call newsletter is written by Basil Chapman, creator of the trading methodology known as the Chapman Wave. The Chapman Wave up-down sequence gives you an edge in identifying price turns, finding the peaks and valleys in stock prices. Get the opening call newsletter by Basil Chapman in your inbox every day. Next-time subscribers also get a 30-day money-back guarantee. If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up. TFNN.com Educating Investors The reality is that navigating financial markets can be risky. Markets can be chaotic and difficult to understand. Having the latest market advice can help you turn this chaos into a key for creating winning trades. At TFNN, we understand that it can be hard to find reliable market news. That's why each of our market experts offers their very own market newsletter. A must-have tool for every trader out there striving to find an edge in today's markets, TFNN newsletters cover every aspect of the markets so you can analyze the market before you trade. Despite any of our great newsletters, risk-free with our 30-day money-back guarantee. Just visit the Newsletters tab on the front page of TFNN.com. TFNN Educating Investors Don't forget, you can listen to TFNN live on your mobile device 24 hours per day. Go to TFNN.com and hit Watch Tiger TV. That's TFNN.com and hit Watch Tiger TV. Watch Apple today, man. Apple down almost $5, you're making session lows right now off about 3%. You get the Nasdaq 100 off of 1.25%, S&Ps off about 6.10%. We're talking with our man, Mike, from Somerville, and we're talking a little bit of gold. Well, first of all, Mike, you can't go wrong no matter where you got in with the run. I mean, we just traded up $100 from where we were basically, what, three or four trading days ago from 2040 to 2137, 2150 was the high I just saw. In the futures, I guess we didn't get a high, but I think on the cash level, you just hit an all-time high. So some notification from Bloomberg like an hour ago, Mike. Longer term, I think this might have some legs though. You can't go wrong taking short-term profits, man, no matter what. But I think longer term, this might have some legs. I mean, you take a look at the dollar, right, and we really haven't gotten the moves that might extend gold up to higher price. This move in gold has happened even without the assistance of a huge rip-roaring rally in one way or the direction or the other when you're talking about yields in the dollar. And then I go back to the yen as well. And I know you keep your eye on that, Mike, but you take a longer-term chart of this yen, man, or above $150 right now, it seems like the pressure might be to the downside. And if that happens, that's usually beneficial where you're going to get action in the dollar and you might get some action in gold. So I think a lot of things might be lining up for a little bit of a higher push on a longer-term basis. But boy, you know, can't fault you because I don't think we're going to be trading up $50 every single day as this thing runs right now. You know, this, leave this. I just wanted to tell you my scenario. Now, I got shot yesterday. So, you know, I'm selling gold stocks. I'm not talking gold yet. My point was that I'm over there getting shot. Now I'm in stocks themselves. You know, Tom always says, you know, even though gold's going up, sometimes the market will take those stocks down. So that's why I sold last night because I'm thinking the market's going down. You know what I mean? Yeah. Yeah. Listen, they're going to be impacted by the market for sure. They've underperformed for a while, though, too. So they may have some recoil if you really get an acceleration because they have underperformed that gold contract for some time. So keep that one in mind as well. Okay, Mike. Yeah. Hey, give us a call later in the week, man. All right? Check in. Yeah, I'll call you sooner. I'll call you before you. Okay. Have a great one, man. Folks, thanks so much for tuning in. Stay tuned. We got Basel Chapman coming up next. We got markets in red territory. We'll talk to you tomorrow, folks. Have a great day.