 Following is a presentation of TFNN. The TFNN Bull Bear Training Hour, every training 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 Training Hour. Now, Tom and Tommy O'Brien. Welcome, folks. Appreciate you growling a problem with us out here. We have the down industry's down 208. NASDAQ's up 31. S&P's up 5.5. Gold contract up $3.60 at $12.83. You've got Silver Up 3 cents, $14.95. Light Sweet Crude, flat, $65.92. That baby just doesn't want to back off. It sure does not. It doesn't matter how many barrels of oil come in. 5 million plus yesterday, right? No worries. Higher prices. Notes and bonds. You get the 10-year note down two ticks. $123.15, 30-year off six at $147.05 and $Kingdala. $Kingdala down 50 ticks, $97.805. That's after breaking, broke the whole consolidation top-wise. Bottom line is that $Kingdala can go a lot higher. And we get an anomaly in that market. When you take a look at $Kingdala versus the metals, versus risk assets and bonds, it's so unusual, folks, that $Kingdala can go up and you get risk assets going up simultaneously. So we'll figure out, well, we won't figure out. The market's going to figure out which way it's going to go with that, baby. Euro. Euro is at 111. You get the yen trading at 111.5 and the pound is at 129. Let's go over to our man, Mr. Kevin Hicks, at TD Ameritrade Pinker Swim. Don't forget, folks, every trading day right here, 11 to 12 Eastern Standard Time. You want to understand option, option strategies, futures, great program. If you haven't test-driven yet the Thinkorswim platform, real easy to do. Come over to our website at TFNN. Hit the banner. Bring it up. They'll allow you to trade with paper money as Kevin and his team bisect and dissect this market each and every day. Let me tell you something. The market has a little bit for everyone out here this morning. It ain't stopping. Bulls, bears. Kevin Hicks, what's going on? Good morning, Tom. Good morning, Tommy. You're exactly right. I mean, this market, if you're in a bull camp, you've got a bull story. You've got a bearish story. You've got the foreign market soft, which I think is really keeping a lid now on our futures this morning. Because there's a lot of good news, but obviously the Dow is being heavily affected by 3M. So this is a day that's not really shocking. I thought the E-minis trying to open on the upside this morning was a little bit of a for me. I thought they'd be a little heavy with the foreign markets and some of the Dow stocks already going to be down. So this is going to be an interesting day, but there's a lot of people with some good news. And although sometimes some of the good news isn't enough for some of these names that have had some good runs like Chipotle. No, no doubt, man. And then, you know, you get, we get after closed today, folks, the monster. Amazon. That's only one monster. That's right. Amazon coming off after the close today. It's funny. We say there's only one monster, man, but how about Microsoft? It's a trillion dollars. They're out there at $9.97. We just looked at a little pullback, but guess what? Maybe today Amazon's at $9.41 right now. We'll see how well they do this afternoon. That'll be interesting. We're going to feature Amazon on our shows pretty much all day today. Obviously, it'll be one of the featured names on Fast Market today. We're also looking at Starbucks. We're also looking at Intel. Two more big names with earnings coming up after the bell. So, you know, these are the days, guys, and you know this just as well as I do. These shows kind of write themselves. There's so much to cover. It's just a matter of which ones can you get to? Isn't that cool, man? I mean, you know, folks, when Kevin just brought up Starbucks, this is pretty intense because, you know, Starbucks is trading at $76.46. Now, the main ingredients, folks, if we take a look at the coffee... What is that main ingredient? Oh, my God, you take a look at the coffee business. Just to give you an idea, you know, has your coffee gone down 25 to 30% in the last six months because the price of coffee has gone from $1.30 a pound to 93 cents? Not bad. Yeah. You know what, Tom? How funny is this? I asked my daughter, who you guys know, she sits two desks over from me in our office. The same exact question. Coffee futures are on multi-multi-low is a reason why Starbucks stock and a lot of these company stocks are rising because the price of their product keep expanding. And one of the underlying stories in Starbucks earnings today. No, there's no doubt. And I can tell you, you know, it was intriguing, you know, just coming back from China, I saw so many Starbucks over there, and I went in one of them, okay? And the differential, even in China, Starbucks is like twice as expensive as everything else. I wasn't used to paying, you know, Tommy always jokes with me, I always pay $6 for a cup of coffee in the morning, which I do. Bottom line, over there, normal place, you'd be paying, you know, a buck for something, right? Starbucks, guess what, was $3.5. Pain for that brand, baby. I said to the guy I was with, I said, look at this man, even in China, they're getting, and they, yeah. I bet Nike's gonna be more expensive over there, too, right? I mean, I'm just joking. No, no, no, no. It's crazy, though, right? They demand it. That brand, you know, is something else, man. In China, Tom, remember, Starbucks has all their chips in the center of the table in China. That's where they think they're gonna grow in China and Asia. And the stores that I saw were huge, not like over here. They were three times, four times bigger than the stores. Brand's probably cheaper, maybe land's cheaper, right, as opposed to in the U.S. city. And what does happen, because they're brand, yeah, this is a major city. Their brand, you know, is that mermaid. So they don't even have to put any writing. Sure. It's just the mermaid. That green color, right? The green color mermaid. Everyone knows it, yeah. Totally. And, you know, bottom line, I mean, when we take a look at Microsoft out here, you know, this subscriber business, man, is something else. They got it. The cloud. Yeah. You know, all these companies that are piled them all together and start to make the case that this economy is not as weak as everyone thought. Oh, I agree. Everyone thought it was turning and heading to the downside. It looks like it was just catching its breath. And what the Fed has done with interest rates has really given this market a bunch of juice. And, you know, even on soft openings like we're seeing today, it wouldn't surprise me if we open soft because of the foreign markets and then strengthen the rest of the day. Yeah, no doubt. And, you know, when you look at the aspect of, yeah, you know, the Shanghai market had going down for a year and a half. Well, guess what? As of December 24th, that's up 35, 4%. It was down 2% last night. But I absolutely agree with you that the slowdown, whatever that was, was across the world, but it didn't affect the United States, man. Right. That's the bottom line. You know, remember we were even talking about it, that, hey, listen, you know, it seemed like I was talking about it. I was like, I'm saying to myself, man, every way you look, it seems like, you know, if you want a job, you got a job. If you want to get something, you can get something. And now we're on the other side of that. Okay. How are we going to go? This dollar move, Kevin, I can't even figure this out. I don't think anyone can. Well, I mean, in my theory, and we just got done talking about this with Ben Liechtenstein, sometimes the dollar seeing, you know, remember, everyone that trades for currencies understands that it's a relationship trade. And some of these currencies in other countries are just getting walloped. And the dollar based on that can't help it. Pretty intense, man. Listen, folks, right here, 45 minutes, you can understand the markets upside down. Check it out. Kevin, you have a great one safe one. Have a great weekend. We look forward to speaking the next Tuesday. Thanks for having me. I guys have a great weekend. Thanks, Kevin. Stay right there, folks. Tommy and I are coming right back. The Taz Profile Scanner is the most revolutionary piece of trading software that you will ever try. Wouldn't you like to approach the markets with confidence? As you begin your trading day, it's likely that you'll be faced with lots of decisions. 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Like, we were just looking at it just because it's trading at $78.60 as of 10 a.m. and where are we? Yeah, $78.06. I knew we were even lower than where we had pulled it up initially. The fast acceleration. They're selling this, baby. I mean, these are 10-minute bars. $78.60 is right there. And even when you look at, we were up, what is that high? $78.79? So, you're talking about a full percent from where we were two hours ago. Yeah. So, let's go take a look inside it because we certainly have the ying and the yang out here today. I was waiting. Facebook, baby. Microsoft, yeah. Comcast had earnings too. We haven't talked about them. Go ahead. Okay, so Facebook is up 6%. You get land research up 4.5. Microsoft 3.2. Comcast 2.5. Now, they're taking away from it. Xilinx is getting smoked. That's down 15.5%. You get O'Reilly automotive down 6.5%. Makata Libre is our 5. And JD.com is down 3%. Okay. If I show you, you know, I was talking about this yesterday. What's going on with Xilinx? There's so much going on. I haven't even heard about Xilinx. Isn't that crazy in terms of how much is in the market? Huge company down there, yeah. Huge. And this was a parabolic move. Okay. I mean, to take a look at this, you're going to see that that's about as parabolic as you can get. It sure is. You know? We bring this back to... Yeah. It's 62 bucks. That's April 30th. That's a year ago. That's 62 dollars. Straight up to 141, particularly the straight line move and this where it got so dangerous is the last four months. Yeah. You know? And, you know, what you have here, folks, they made their numbers. They made numbers. Then they turned around and they're buying a company. And it's like right off the bat, this was trading down $10 after they came out with their numbers yesterday and then about 15 minutes later, they said they're going to buy this company. And it's shot money. They're only buying it for like $4 billion. It's $400 million, but the market didn't like it at all. Okay. Can I just take a look even on the... I'd like to see how you can trade after. Yeah. It's a little muted, right? Yeah. And then just falls right off the cliff, though, the second that they came out. Right. And then even this morning, look where it was. I mean, it was up to 126 right on the open. Right. So the market's saying. Tick itself. And of course, inside the Dow industrials, it's 3M that's putting, what do we say, 140 Dow points at the start of the program as in yet contributing 140 negative. So, natural gas. Natural gas. It is Thursday. We get those inventory numbers Thursday at 10.30. It's 10.21 on the dot. Jumping around here. We'll pull up the contract. So we're looking at the June contract. Natural gas right now. We're trading at 2.49 on the dot. A little bit of a sell-off this morning from about 9 till 10. We're up there at 2.51. So we'll jump in. Let's see. I'm going to start off with the 11 a.m. see kind of exposure. So with 2.49, I think most of these are going to line up. Let me see if the noon is as well. Yeah, they're all going to line up with 2.50, being our price point. That's not bad. That we can gain exposure from. Right. Yeah. So on all of them, you're going to have about a penny head start to the downside. Okay. So you're going to have a little bit of intrinsic value in each one to the downside. And then you're going to be paying premium on both sides. So our 11 a.m. we're going to have 20 cents of exposure to the upside. This one's going to be out of the money. So the cheap one paying six bucks. The bearish one's going to be the expensive one with about a penny of intrinsic value in there. So you're paying 16. The difference being the $10, which represents a full penny, right? Yep. So you're looking at 22 bucks, which is 2.2 pennies. It's not bad. Keeping in mind, if you're a little bit bearish, you've got a penny already. Head start to the downside. So you'd only need to make up, you know, 1.2 pennies basically if it shoots down. But it was just at 2.51. So you'd have exposure. So 22 bucks at 11 a.m. chump it to the noons. You're out of the money one. Now instead of six, they're making you pay eight. So two extra bucks, which is two tenths of a penny for that extra hour on the bullish side. And it's probably going to be a little bit similar. 17. So you're looking at 25. So you do take up about three or four dollars. So two bucks on each side. So what is that 30? Excuse me, 25. So two and a half pennies, plus a couple bucks in maybe commission. And we'll go to the dailies. Now the dailies, let's see if these line up. So we always say this, right? To be aware, so the eight till 230s, these give you, I'll pull up the bearish one because that's going to be a little bit, these give you 40 cents of exposure till 230. But what always happens is why not take the one that's going to give you 50 cents of exposure when they're ticking identically. Look at that. Right? I mean, it's always, and the reason is because there's almost a 0% chance. This average rate is more than 40 cents prior to 230. But guess what? Like we stated, it's not zero. It might be .0001 over that. But guess what? There's a number and they're not making you pay for it. So we'll jump right to the 50 cent ones. This can be a bearish trade. That's going to have about the penny of intrinsic value. That's costing you 23 bucks just for that leg. And then on the flip side, going from 250 all the way up to three bucks, again till 230, you're paying 12 instead of eight, right? So on the bullish side, we're paying six bucks for 11, eight bucks for noon, 12 bucks for 230. And on the bearish side, pretty similar ramp up. So you're looking at 35 bucks till 230, three and a half pennies. And again, you got about a penny headstart to the downside. And we'll see. Now, yeah, we're in the building area now. So we can expect to build because they'll be coming at this spring, right? Okay. Meaning, and that's with gas. Yes. That is the number that they're looking for in here. I believe it's 92. And this is kind of a cool chart. And this is just the recent weeks and their numbers. So zero being right here on the chart. And you can see, so there were builds going from last April, probably what you're talking about. Through October, then you had dipping through draws, right? You go from October, draws basically again. This is where zero is. You can't see it, right? So anything below this pointer line point here is a draw. So you go draws. You had actually in December 28th, it came close, very small draw, some bigger draws into February. And then they're expecting about 92 and 94 for a build. You know what's interesting is that, like when you look at that chart, it almost looks like, wow, this is the beginning of the draw. It looks like we're going to get more gas this year, you know? If that's the case, because we're so close to these tops up here. So my point would be those that we did the exact same thing coming into the end of April last year. We saw an accelerated spike. Okay. And we topped right where we are. 92. That's 100. Look at that. That's a topping out at the end of April. Isn't that interesting? Well, and there's just a similar acceleration from a draw to a build in the exact same time, late April, early May. But we hit that number and then it just kind of hovered from zero to 100 billion cubic feet for the entire period of the summer. Wow. Yeah? So we'll see where that shakes out. We sure will. A few minutes. $2.49 natural gas. And we'll see where that number hits. How about Amazon? Can we look at that actually? Oh, yeah. The numbers, their revenue. Yeah. And the final, before we jump to break. This is after the close today, folks. It's going to be pretty cool. And they come out right away, too. Okay. So they don't have anything to hide like Tesla. No. They don't weigh in the bushes. Exactly. Exactly. So there's a first quarter of 19. Is that what they're coming in? $59 billion. $59.7 billion they're looking for. Then they're looking for $4.67 that are bottom line. And these growth numbers are just, like, over the top. They sure are. AWS, they're growing at 48%. Third-party sellers, they're growing at 38%. Oh, my God. 48% for AWS. 38% for third-party retail sellers. And look, I mean, what even is other? It's a $24 billion yearly category, and they're double, and they're almost... I think that's the advertising. Okay. They haven't broke the road yet. That would make sense, yeah. Definitely. Because the spread on that AWS and advertising is much larger than that. And look at those earnings per share. 2020 next year, almost $40 a share. I think Bezos owns 80 million shares. So if he just took the earnings, that would be $8,160, $320 million in earnings just for his shares for that company. Stay right there, folks. Tommy and I count 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. Included in market insights are specific buy-and-sell recommendations for stocks, ETFs, and even options, which stops and price targets included for every trade in my newsletter. If you'd like to try my newsletter risk-free for 30 days, then head over to the front page of TFNN and you'll find market insights under trading newsletters. 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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. If a 252 Nasdaq's up 9, S&P's up 13.5, and natural gas. So comes in pretty much where analysts were expecting it. 92 billion cubic feet. Estimate 92 billion cubic feet. Doesn't mean that it's not going to go a little haywire jumping back. We got a bit of a spike. So unfortunately, if you were trading volatility, right, you're spiking up. You had a penny head start to the downside. Max loss would be exactly at 250. We're trading at basically 250 right now. But on the flip side, you're getting some action on a number that pegged right where it might have been expected. So you just could have rode out where we were. But nonetheless, a little bit of action to the upside. We'll see what we shake out, man. 92 billion cubic feet. Let's see the table. Let's see what we're building here. So this is the total inventory. It's now 1.3 trillion. Wow. And yeah, so weekly change of 92. Let's see. So the numbers. This column here representing the change. This is the previous, this now. So let's see the east representing 23 of that 92. South central being 45. Yeah. Yep. And then the mountain was the least, only four. So it was a little colder in the mountains. Okay, yeah, right. And interesting, so a year ago, inventory is sitting at 1.28 trillion. So slightly above where the inventories were. Five-year average. And that's what I'm saying, below the averages, right? Five-year average about 1.7 trillion. Right. Usually are in the build there. But hey, let's see what happens. Pretty wild, man. The market in general. Let's go take a look at this. So the NQ's are staying where they are. They're down 41. That's when we pulled them up last time. Dow's getting a little more precious. So if we look inside the Dow, you got... Microsoft pulled back a little bit even. Only up 3.5% now. It was putting 35 points, now they're putting 29. 3M accelerating, though. That was 140, now putting negative 156. Right. And overall, they're selling some of these Dow stocks. How about Caterpillar? I mean, just mammoth company in terms of market cap size might not be putting the points to 3M, but down $3.40, more than 2%. That's putting a negative 23 points in. You get Boeing 15, IBM 14. United Health 13. Even Apple off a bit. So then let's go back to the NDX for a second. So the NDX, Facebook, well, let's go look at Facebook. Facebook, if you heard this this morning, folks, this is where Facebook got fine 3 to 5 billion. They figured they were going to use that. But then they added a market cap of 35 billion. Does that... Zuckerberg alone added 4.5 billion. Not bad. You pay a $3 billion fine and you wake up next morning and you market your personal wealth. Yeah. It's 4.5 billion dollars higher. Yeah. So with that said, it's just like a bank, folks. By the way, hey, it's going to get part of the business. No, that's going to scare him next time. He hates making 4.5 billion. He's never going to do anything the FTC will find. Seriously, man. You can do something wrong. You can pay the fine and your stock goes... It's not supposed to be how it works. It makes money. Fines are supposed to dis-incentivize people from doing things or companies from doing things. If you actually end up doing that, getting fined and still ending up a net positive, that's not how it's supposed to work. No. It seems like that's the recipe. That's the recipe. Yeah. Let's go take a look at O'Reilly Automotive. Now, this is an equity that also has been out at good highs. The low 2.24, the high is 4.14. This is getting hit, yeah. It was. Yeah, exactly. Exactly. So, let's see what they have to say. Oh, man. Look at that. I know. Let's see. So, okay. So, yesterday it was 4.05. They did 4.05. Comp sales, they were looking for plus 5. Oh, no, no. This is just saying, no. Comp sales, 3 to 5%. That's the second quarter they're looking for, forecast. They re-formed their year comp sale forecast. First, I think they had a miss on first quarter comp. I'll do that. Okay. I just see first quarter crump sales, missed S. Yeah, let's see what they got going in here. Here we go. Comp sales plus 3.2. They were looking. They missed the bandwidth of 4%. I think it was 4. Wow. Earnings per share forecast pretty close, but below. Estimates 4.69, 4.55 to 4.65. Let's see. First quarter sales slightly below 2.41. Estimate was 2.44. That's gross margin. Man, we pay a lot of autobots. Gross margin, folks, 53.1%. When's Amazon getting into that business, man? Isn't that intense? That's a business that helps. And market cap-wise, huge company, $28 billion. I just took a peek at it. Of course, if you're doing billions of dollars in sales and you're making 53% profit margins, man, kudos. But they got to do something different, man, because those comp sales, not what the market was looking for. Amazing. Let's go to John in Michigan. Hey, John, what's going on? Hey, Tom and Tommy, love talking to you guys. Haven't been able to call you in a while. Hey, John, thank you. Appreciate it. I have two things. One, I wanted to see if you had any comment on McEwen Gold. I called you about it maybe a month ago. And it looks like that one is getting hammered pretty good. Yeah. This has been a problem. This is McEwen mining, folks. The low is 130. The high is 252. You still get a shot position of 18.1%. It can't seem to get any traction, man. Right. Yeah, we talked about that short position, man. They've had that for a long time on that stock. They have. So nothing has changed. And it's been right. The thing is so weird. It's been right. Tommy, this morning in the update, was talking about Tesla. Yes. Now, in Detroit, we have a show out here that's been on for over 30 years. And it's called Automotive Insight by John McElroy. OK. And he was talking today about self-driving cars and said that Tesla is by far way ahead of everybody else in that marketplace. Yesterday, Waymo announced that they're going to use an old American axle plant to assemble self-driving cars here. OK. They're saying that, you know, that's great for Detroit, 400 jobs. But he said Tesla is so far ahead that it's not even funny. And he said another thing that Elon Musk has got on the table now is they've got this box that they can put on a Tesla car that for $5,000, they can turn any Tesla car on the road into a self-driving car. Interesting. And he says that's going to be coming real soon. I throw that out there. Tesla, you guys talk about that. You know, he's the bulletproof guy right now. And I can only assume that's one of the reasons why. Yeah, I know. I can see that. I mean, I wouldn't be buying the stock because things are in trouble right now. I mean, it's trying to go after this 244 level. I've watched that thing for years and say, you can't buy it at 100. You know, you can't buy it at 200. You can't buy it at 300. And, you know, I never did anything with it. And I just watch it and it drives me nuts. I'd be a little worried about Tesla right now too, just from a fundamental perspective. And I agree with everything you said, John, which makes it even more crazy, right? That there's still fear of because, I mean, you know, they had the huge drop-off on quarters, which makes sense because if you didn't buy one in December when you're getting $7,500, why are you going to buy one in January or February or March? But they have some issues. And I'm not sure that all of that technology for self-driving in the numbers Elon likes to talk about are coming that quickly. I mean, 5G is going to be huge. That's going to take off. Right. This is going to be coming down the pipe, but they're going to have some competition, man. 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You can check out Jack every trading day, folks, at MajorLeagueTrading.com. Jack Leason, what's going on, brother? Hey guys, how's it going? Today I'm going to go over with you guys a little gold and S&P, but how's Boston doing in the playoffs before we get into it? Yeah, how's that, huh? We're doing alright, man. How's that? We were just talking about... What's the series at? I haven't caught too many games. Well, you missed the series, man, because we took out Toronto two nights ago in Game 7. Oh, okay, that's right. For basketball right now, I'm not sure, because I got caught up in those hockey playoffs, which have been wild, man. But I was just saying to my dad that if the Bruins and the Celtics could ever close it out, they'd have the Grand Slam and hold all four titles simultaneously, which is pretty insane. That would be incredible. It's always going to have a goal. You guys. Totally, man. Sick. All right, well, I'm going to go ahead and just share my screen, so I'm going to get rid of my radio face and actually show what I got here. Let me know if that pops up for you guys. Yeah, we got you, Jack. Perfect. Okay, so this is gold, which I love talking about with you guys, because now you guys are big gold guys. And, you know, we obviously had a really nice rally into the end of 2018. It had some continuation into the beginning of 2019. A little bit of deeper pullback here, basically, you know, near the lows of what we had. But what I want to point out is starting the rally of 2018, it was a halfway back sequence. And this is something that I've had the conclusion that most bigger moves do start in halfway backs. So it was the low of the 16th was at August. Too high. And you can see we rotated right now at 50% retracement and then just continued up to our profit targets. Now what I will look for after we actually hit this green line here is drawing that low from where the 50% was to the high. But we just went straight up and we never traded it. We had just a different series of a high to high. Yes. So we've recently now come back into that level. So that's that low from November to November 13 to the 2019 high, which occurred on the 20th of February. And we've just found a little bit of support there. You can see we have no daily closes below that level. That first test right there was on the 18th. We got a bounce sideways reversal candles at that level. And now we're getting back above, you know, this multi-day consolidation. So I'm hoping that we can at least see a move back near to the, you know, mid-range, which is around, you know, 1310, 1313. So over the next couple of days, I'm going to be looking for shorter term, shorter term timeframe buying opportunities. And so we get into that higher timeframe resistance level and go near the 1313 level. Yeah. No, it's, you know, I like what it's done, meaning coming back to the breakout area, you know, the right volume on the rejected lower price took off topside again. The thing that's pretty wild though is that the dollar broke topside in a huge way. And it's going to be interesting watching all those currencies today in correlation to the metals, because it might have been that they all just spiked, took everyone out. You know, if we take a look at the yen right now, what you're going to see is that, you know, the yen folks, okay, bottom line. This night gets all the way up to a price point of 112. That's weakness. Then the bank of Japan come out and, you know, bottom line said that, hey, listen, we're still going to just give money away. And you'd think that would get weaker, but it didn't. It just went just to the opposite. It just got stronger, you know. And so all these moves, man, in the same, if we go forward, we'll go to the euro. And all of these, the euro and the, you know, the yen affect gold in a big way. The euro just rejected 111. 111.18 or 111.48. So it's going to be interesting watching this thing move, man, you know. Yeah. I haven't been following the currencies too closely, but, wow, looking, you know, you pointed those out. I pulled up those charts. Those are some big, trendy moves. Isn't that crazy? I know. Believe me. It's, and they're all out there too. The Canadian dollar, the Aussie dollar, you name it, they all broke a very long consolidation. The consolidation was from last October, you know, and so, but gold stays strong. That's the reason I just brought that up, Jack, is gold has actually stayed strong in spite of that dollar getting so strong. It's amazing. And, you know, of course, gold is priced in dollars. It's like, okay, so what's going to break here, you know? Something's got to give, right? Something's got to give, man. It works usually. Something's got to give, you know. All right. So I'll go over the S&P next. This is another thing I wanted to show you guys. Starting now, we're in the June contract for the futures in the S&P. In the beginning of the contract rollover on the 8th of March, that's the low of the contracts. We've been rallying basically since then. There was a halfway back here from that low to high that traded at $27.96, and we had a multi-day consolidation there. That ended up completing profit targets. And you can see that negative 23% target was $28.98. We just went sideways, you know, one, two, three, four, five days there and then broke above. When we break above that in a perfect sequence, which isn't, of course, never always perfect, but in this case, we then go from that previous high to high. So we have a pretty good example of an extension playing out. And that extension traded on the 18th here and completed at $29.37. Really this week. You can see that's where the price rejection actually came up. We closed at the belief that it was Tuesday or Monday. Closed at that level. Couldn't get back above it yesterday, Wednesday. And then you can continue to see the price action rejection. So in this case, what I would argue for or begin to look for is a same-acre to high sequence, which is just that same-acre. It's a fib drawn from the high of the 21st of March to the next high. And then the two levels I watch are the 38% retracement and the 50% retracement. So that would be $29.11 in the S&P June futures contract would be the 38% retracement. And below that, you got $29.03. So those are the two levels I'm going to be looking for, you know, whether that trades today or tomorrow or the overnight session we'll find out, or maybe not at all. But those are two levels that I really just like the way, you know, on the hourly chart specifically that this 29-12 area lines up because it's a retest of the point of the breakout from Tuesday, which I always like to line up. No, there's no doubt, man. I know. And it's just, you know, it seems like we lay at highs. Doesn't look like it can break. Breaks to another high. Lay at highs. You know, same thing. Like even like today, I mean, you know, you get the dot on $2.30. But the S&Ps, I mean, they're only down eight and a half. That's nothing. Well, yesterday, you know, we had Facebook and Microsoft earnings after the bell and the S&P had opened and, you know, we had a quite, quite a little bit of a pop, but with Facebook, you know, I think it turned all the way up to 200 Microsoft, you know, huge move to the upside as well. There was a little bit of a move, but like there wasn't a significant move to the upside where you would have been like, hey, like I thought the market was a little weaker because, you know, we were hanging the lower lows, lower lows, lower lows, lower lows all the way into close. And you got that fall through here today. Right. That definitely shook some, shook some people out here on the lows. So. Yeah. Now that's a great point, Jack, because when, right before the close yesterday, folks, there was a big sell on that S&P and went right down right before four o'clock. As soon as the numbers come out, flip all the way back top side, but guess what? This morning, right back down. Right there. Listen, folks, you can check out Jack every trading day, majorleaktrading.com. Jack, you have a great week, safe week. We know it's one more in Chicago right now. That's a beautiful thing, brother. Take care, guys. Good talking. Thanks, Jack. Have a great one. Have a safe one. Stay right there, folks. Tommy and I are coming right back. We have the Dow off 222. Come on right back. I'm certain you are or strive to be one of the best of the best at everything you do in life. It's the most common trait that we tigers and tigers share. 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Get your two-week free trial to Basil's newsletter of the opening call today by visiting TFNN.com. For more information, just click the think or swim banner on the front page of TFNN.com. Natural gas. So quick check, we got a little bit of a pop. 251, still not too dramatic, right? Right. And it did, it came in at estimates, so we'll see what happens. But 251 on that price and that natural gas. Let's go to Dave in Boston. Hey Dave, what's going on? Gentlemen, good morning. It's good to hear the dynamic duo back together again. Hey man, what's happening? Good to hear from you too. Keeping it together. Look, I couldn't think of anyone better to ask for risk assessment. I was in a PayPal, I'll actually gap down after the market yesterday, gapped up this morning. Probably regained about half of the gap up. Your assessment on options expiring tomorrow and what's going on, is it better to close out early? Does it look like it has any more to the downside in your take? No, I'd close it out. So you have a call or a put? A put. You have a put. Okay, so I see what you're saying. I'm just looking to assess where, I mean it gave back, it took back half of it this morning, whether I just hold on, I've been watching China close lower over the course of the evening. Just wondering if it would have a roll over effect into the close out. I think you could get 108 again on PayPal there. That 108-52 that hit 20 minutes ago? You could get that. I'd hang tough a little bit longer. Below 109 someplace, this makes sense. Just the interday low. Interday. That's what I'm looking at. That interday low can get hit, man. Okay. Cooking, brother. Thanks for the call, man. Have a great one. You too. Stay right there, folks. We'll get Fast Mac coming up next time we get out, man. Miss Basil Chapman, Steve Rhodes, Dave White. Be back this afternoon. Thanks, bro. Thanks, man. Wee! We'll get them, folks.