 The following is a presentation of T-F-N-N. The T-F-N-N 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 T-F-N-N Bull Bear Training Hour. Now, Tommy and Tommy O'Brien. Welcome, folks. Appreciate you growl at a problem with us out here. We have the now industries down 368. You get the Nasdaq off 86. S&P's off 32. Gold. Gold up by $23 straight at 15.53 an ounce. Silver. Look at that. Bid and silver. $0.64, folks. That is a monster. $19 on the dot. It's got it for you. That is something else, man. Notes and bonds, that's the one that's really something else. I heard the update when you were doing the update. You were right in the middle of it. Yeah. You get the 10-year-up, 19 ticks, 130 to 10, the 30-year-up, a full point plus four ticks, $166.11 and $KingDollar. $KingDollar up $100 and ticks, trading $989.60. That's a new, not new highs, not all-time highs, but it definitely broke out from last week. Euro. Euro is at $109. The yen is at $105.76. The pound is at $120 to $1 that you as a dollar. And that ISM number came in. Yeah. And that just took the market apart. There you go. So that was, you know, I usually take a little time, of course, getting ready, getting the charts ready for the update. Man, everything changed right at 10 o'clock on the dot when this ISM came out. So first time in three years, you have manufacturing contracting, that number. So you have the Institute of Supply Management, Purchasing Managers Index, Fallington, $49.1 in August, weaker than the forecast. I believe they were looking for $51.2 and figures below $50 as you were explaining. Signal, the manufacturing economy is generally contracting. Exactly. And this is a big R word, folks. First time in three years. Yeah. And the market reacting to that dramatically. Man, I think, do I have the yield? Look at this. So that's the yield of the 10-year we're looking at. I came on the air prepared to say that we had had a 1.46 handle earlier in the session, but we were back above 1.5. You always got to be on the fly when you're doing live television and analysis, and boom, just like that, we're sitting now at a 1.4456. And the way this is trading, folks, okay? So, picture, and happy Labor Day to everyone. Happy New Year. Happy everything. Summer's over. Summer's over. Yeah, because the way this is trading, okay, so picture, when you see the month of August, this was quite a bar, the month of August, we went from 2.05 to 1.4. That's like unheard of. Not unheard of. Oh, yeah, it really is. So, now, we're basically starting off the month and we're gunning now for the 1.31. We might get there by 11 a.m. at the end of the bull bear trading hour, man. And guess what? I think it's going to blow it apart because what happens is that when you come into swing points, whether they're highs or lows, and you come in with, I call it conviction, okay? Like this, you don't lose the power like right away. It just doesn't dissipate, you know what I mean? Talk about starting September off with a bag man. You know, it's like, boom, just like that. We're 30 minutes into the trading day. You get an ISM for the first contraction of three years and you see the yield dropped seven basis points in seven seconds. And what happens, of course, is that, you know, we know that if we take a look at the... Yeah, where's the curve? Where's the curve, baby? Now, everyone's going to have to really start paying attention to the curve because this is the second, you know, I wrote an article for the ISM years ago. Okay, yeah. And this 5-0 is a big dumbo. When you go below 5-0, it's a problem, folks. It's contraction. It's contraction. You know, we always wanted above 5-0. And we stayed below 5-0 for a long period of time, you know, years ago. Yeah. But, you know, when you take that, then we take this curve, okay? Yes, we're not inverted right now. No, I can see that. Two-year, I mean, it's almost called it flat, right? Two years sitting 1.442. Right. Ten years sitting 1.444. Right. You're within 2 1-thousandths of parity between the two. And I bet what happened here, let's watch this. Before it's your point, I just want to say it's interesting, though, because the two tens, what everyone is really talking about, they say yield inversion, right? And you can have different yield inversions there. Oh, yeah. And nobody talks about the three, the five, the seven, huge inversions. Yes. But they look to the 10-year, when they're talking about, I wonder right now, there's nobody even mentions that. That is interesting. And they're not as big markets, okay? So that's why it's not as reliable. Yeah. When we talk about the reason why you really should listen to the yield and the bond market, it's because the amount of money that goes into them. Right. And that's because the amount of money that goes into a two-year, the amount of money that goes into a 10-year is mammoth. So there's greater assurances that that market is where it should be, supply and demand, so forth. Still, remarkable when you get the seven-year sitting at 1.387 in the two-year sitting at 1.44. That's quite an aperture. That's serious. So gold, gold caught a bid, you know, and, well, continues to catch a bid. You know, this won't back off. Now, we have divergence, for sure. I mean, the dollar was at highs. Yes. But guess what? That's not stopping gold. That's being your golden prototype, man, totally. We go over to that dollar and we take a look at it. What you're going to see, now, we broke topside with light volume. And, you know, we'll see, you know, bottom line. Look at that pullback, though. I didn't realize we made it all the way to 99-330. Yeah. And so watch if I do this. The next level, this is what's so wild in the dollar, folks. But, yeah, I'll give you my bigger take on this. Okay, DX1. So it's 103. That is the next swing point. It's like, man, oh, man, you know, it's like, really? It's like 103-815. Okay. And that is January 17th. Yeah. So, like, when you're just doing something technically like that, you have to really say that, hey, listen, man, we've been, we broke out of this area. Now, it's not a monster breakout, but we were in this area going all the way back to, like, October of last year. So your next logical space would be up there. Now, my take is that we'll get a failure, but that's the next logical space. That's right. That's nice, man. And I just wanted, we're sitting, I mean, in my space, 100.60. It's going back December of 15. Right. We're really going back, man. That's when Obama was president, right? No, 14. No, yeah, Obama was president as a man. Things are crazy because, yeah, there's your November when things are going a little, hey, why, of course, markets reacting, but we got to go all the way back to there, 100.60, 100.270. So we're going to come up to that level real soon. But, man, we got nothing in the way after that. That's pretty intense, man. Yeah. Some of the high of what? Well, yeah, let's go to the Dow first. I know you're telling me about Boeing. American Airlines came out. They cut us off, man. The market's moving too quick. Reconnecting. Yeah, let's see it. There we go. Okay, I think we're back. Go for it. So, Boeing, right? Let's see what's happening with them first. Yeah, so news out here that regulators might not approve the 737 MAX until possibly December. And that, of course, is a big deal any time, but that is even bigger when you talk about holiday travel so forth. Look at that, too. The MAX 737, likely the biggest insurance payout. Yeah, I assume so. Second one. Right here? Yeah. Okay, let's see. Who's got the reinsurance on that? Yeah, so the insurance payout on the beleaguered Boeing 737 MAX aircraft after two crashes, claimed 346 lives, will likely be the biggest ever S&P global rating said Tuesday. So you have the director, a director with S&P telling a press conference, the twin crashes. Let's see, where's the number? Where's the number? Of course, worst disaster in history of aviation insurance, and it should be because it seems like it's completely gross negligence across almost willful negligence. Besides the accidents, insurers and re-insurers must also cover the costs of grounding the aircraft, which will rise the longer it lasts. Boeing has repeatedly been forced to push back, today included, push back again, the expected clearance of the aircraft. Let's see, so many are now fixing December as the most probable date of the plane to resume flying, and we'll be able to talk about the cost when the airplane and airplanes begin to fly, but clearly that is going to cost money, so they don't even know. No, because it depends on how long we're going out, right? Yeah. Say right there, folks, Tommy and I are coming right back. We have the Dow Industries down 413, NASDAQ up 92, S&P's up 32. Come right back. If you're not currently using the TAS Profile Scanner when looking at setting up your trading opportunities, then your arsenal is short a mighty weapon. The TAS Profile Scanner is a standalone piece of software that instantly filters over 2,500 global financial markets such as stocks, ETFs, commodity futures, and forex. Headed by Steve Dahl, TAS understands that in today's technological world, the use of top flight software applications and technical analysis expertise is essential to successful trading in today's market. 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Hear all of the TFNN shows, plus see all of the charts as they happen live and have access to archives of all of those charts. You can test drive The Tiger's Den absolutely free for 30 days and greatly enrich your knowledge of these markets and how to make your money work for you. Check out the details on The Tiger's Den or on the front page of TFNN.com. All now toll free at 1-877-927-6648 internationally at 727-873-7618. Down at 380-965, S&P's are off 28. And we had a good... Not a question. Question, analysis, comment, right? Yeah, in the den. What it was is that how much of the ISM number is Boeing related? So we actually Googled it. So in April, folks, they were pushing out 52 a month. Since April, they've been pushing out 42 a month. So, you know, that's 10 planes a month. No doubt about that. But as you said, what ended up happening, the analysis, folks, was coming at 51.5. Yeah, the expected number of the ISM, maybe 51.2. They already knew those numbers were going to be in for Boeing. So nonetheless, it comes in at 49.1 for the ISM. So there's more going on. There's something else in there. Yeah, there's something else in there. When you look for the first time in three years, but it is probably a hit because every plane, man, mammoth hundreds of millions of dollars in manufacturing, right? Big money. We take a look at the Dow Industries, the strengths versus the weakness, and Boeing's the big one, minus, say, 83 points in Boeing, Goldman 41, the United Health 35, Apple 28, Caterpillar 22. Inside the NDX100, we take a look at it, and you have the strength, Alta Salon, which smoked. Ah, quite a pop for Alta. Yeah, seriously. I said it's sarcastic, unfortunately. I got smoked last week. They were up at 337, I think, Alta. Before that, they're sitting at 240 still. Yeah. You got XL Energy, up 89 cents. 89. 80 to 20% percent, sorry. Land research, up 7-tenths. What's going on to Macao, man? It's, uh... The action. The Macau is down. Yup. Those big Chinese whales getting hit by the economy. Very possible, man, right? You talk about the trade wars. If you're a mammoth whale in China, maybe you don't have the... Maybe now's not the time... No, you're not going to spend it all back for it. Or maybe now's not the time to go risk $10 million at the mattress tables. For the weekend. Yes. Right. Seriously. that's going to be the chips to get hit because you get Huawei saying that the government, our government setting their employees up. Okay. Qualcomm is down 3%. ADI is down 3%. Let's go over to Wim. Yeah. Because this... It's quite a haircut man, 5%. Yeah. The numbers came out last night. Okay. And look at this. This is... Right at those loads, man. This is dangerous, man. Yeah. 102, what's that? 102. Right around 102. 38. So... Where are we in context? Yeah. The next one would be 50. Right. Yeah. It's sticking out, man. It is sticking out. There's no doubt about that. It's amazing. That's the low of 2015. We're going back to... Let's see. So... Ooh, that was the big number. See, my cow goes up and down like crazy. Yeah. Down 8.6. How those whales running at the table, man. That's all that matters, right? Yeah. I mean, when you're betting 100,000 US to a million dollars a hand, sometimes the luck of the week is going to make or break a revenue stream on the quarter, which is remarkable. And as long as you stay alive, as long as the house stays alive, they'll win in the long run. But, man, there's going to be some, as they call it, variance in that wins and losses column. No doubt. So, silver. Take a look at silver, folks. Doesn't stop, man. This is impressive. I mean, for silver to move 66 cents in a day. And if we go back three months, it was 15 bucks in 2019. And what's sticking out like a sore thumb here, it's finally going to go for it. It took silver a long time to get going. But this $21 level up at this 2016 is game. And I like how it's barreling into it. Okay. It's $21.09. Okay. And you can see, you know, wouldn't take too many days to be there. We keep poppin' 70 cents a day, man. Right. We'll be there in two days. And, you know, what you have here, folks, is that this is, that's the level that gold took out a couple months ago. Okay. Cool. And I think it's a good approach, is this, you know. Yes. Can we, for context, put, can we add that little contract on here? Yeah. GC1, maybe? Yeah. Yeah. Let's see how we're looking when you compare the two. Always interesting. And then what, okay. It's a pretty interesting, right? So you have gold. If you hit it one more time, that will get rid of it, I think. Maybe that one? There we go. So this goes back comparing them from September of 2009, basically. Actually, it looks like from 2009 to 2011. Look at that. Silver was the giant. The rocket, right? Yeah. So that's where, if you started this chart from 2011, gold would be much more of a high performer, right? But still interesting because you had silver really come out of the gate, made it up to that almost $50 price point, right? Holy cow. Yeah. Now, the gold is gold, easy enough. The silver is the white. And so you're sitting with gold 1560, 1555. Silver's at 1886. If silver was on parity with gold, you would have silver up at almost $25 right now. Yeah. Now, the other flip side of that is, if you had gold come back down to silver, you would be back down at about 1160. Now that's going back a decade. All right. So it's always interesting if we started this chart going back about eight years, how that would differ, but pretty interesting stuff. There's no doubt. Go for it. Yeah. That's huge differences. Huge. And that's what the doll is still at highs. Yes. So this whole, the negative interest rate, folks, is a monster deal for the metal market. We'll have to head around that much. There's no doubt about it. I mean, we look over in Europe right now. I mean, it's devastation. In fact, excuse me, folks, I was listening to this and all the European banks, all of them, are like at, not only at lows, but they're at lows for a long period of time. Okay. And it totally makes sense because they're in a negative interest rate. How do you make money as a bank if you're not making any yield? And in Germany, what they're thinking of doing, and this is what some of the Sonic was about, that they're thinking of making it illegal that the banks could actually charge you money for deposits. They're like, you know, they're like a villain that the bank cannot charge you to hold their money. Okay. Now then the banks would be really toast. What do you do then? Exactly because they can't give the money to anyone else without losing money. And then they're saying, well, you can't take deposits unless you pay them something. So. I don't know. I'll have to spend some time lock myself in a closet to understand how that one works out. I can't wait to, I can read it. I just, Yeah, it's not the only one. No, I think the whole world like that. I think the whole world exactly. They don't know like how does it turn? How do you go from the negative to the positive? What kind of catalyst would make that happen? They're saying, you know, the lot of the talk is, so where do you put your money right now? Right. So you used to put your money in bonds for safety. Right. The only reason, so you're now in a market where you're only buying bonds to trade them to invest in the price of a bond. And bond, don't do that, exactly. Irregardless of yield. Exactly. Like the T.L.T. for instance, right? Right. We'll pull up the chart of the T.L.T., all right? You want to talk about a gangbuster August. Right. You come into August 1st, you have the T.L.T. sitting at 131. Wow. You're sitting at 148. You just made $131. Right. If you make $13, that's 10%. In a month. So you're making in a month, capital appreciation. Now, keep in mind folks, you think you're safe, right? You buy the T.L.T., you're buying bonds. Right. This, if we ever, and I don't think it would happen, but if you ever got a pop back to 2% 10-year, you're losing, you're going from 148, then to 131, you're losing more than 10 to 12% in a month or so. Stay right there folks. Tommy and I are coming right back. Our phone number is 877-927-6648. That was down 405, NASDAQ off 89, SAP is off 29. Come 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, and I also write on the days 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. I use my years of trading experience to bisect whatever warranted with important market action. I'm always scouring the market for the next great trading opportunity. Sign up for your 30-day free trial to my daily newsletter and market insights today by visiting the front page of TFNN.com. Well, go get them folks. The path of least resistance is David White's daily trading newsletter, and if you're looking for active trading ideas, then now is a perfect time for a 30-day free trial to this powerful daily trading advisory service. David uses his years of trading experience to offer his subscribers his trading ideas each morning in his path of least resistance newsletter. 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That's like moving, folks. And as, I mean, stay safe on the coast, man. You're going to get the Carolinas up there. I know we got listeners up there, man. Some of that storm surge really might be intense just because right now it's moving at one mile an hour. It's amazing. I mean, it's amazing. It is. So it didn't go in the golf, okay? And the real question is, is that does this just go down because we still don't know what's going on. So you've got to not to no pun intended perfect storm and against oil as in the golf isn't going to get hit at all. Yeah. The ISM numbers don't. Right. And then you have the first day of the new tariffs kicking in. World economy was. So that's kind of what kicked off. You got new September first trading day. I should be right because it started at about two in the morning. You were sitting right at $55 on the dot for the whole overnight session. Kind of where we're hanging out for the most part yesterday. You had oil markets open even on Labor Day. But man, you just go back to where we were. We're sitting at you know, this is Friday. We're sitting at 5650 shave $3.50 off the price of that by the time this is going to be the first one that's down to that December swing low. Yeah. Okay. So that's 5336. Okay. We made it to 5555 last week. And you can see the expansion of volume. So you still have sellers out here. Yes. And it was intriguing. You know, this one here is also high volume low to it. 4993. Yeah. So call it 50 bucks right now. Okay. So that's 50. Yeah. Because there's no doubt that even today the volume I think will be a little light today. Let me just look at the Yeah. Let's see. Is everyone back from keep calm the Hamptons? They back? They are. But what normally happens is that it takes about a day to get the thing going. Sure. Right. $175 million. Yeah. I mean, we'll see as you really see. We're going to get some volume and then the size 21 million. So you know our man Steve Rhodes. He was on vacation. He's struggling a little bit with getting his flight back. Right. He's on the coast of Florida. So yeah. He's not going to be flying in there today. His program may not be live. He may be doing a remote. We're not quite sure just yet. We're going to do a little tour, so we're going to do that sort of stuff , so we're going to begin to get all the things that are going to be going to get going. They've got the little U.S. aircraft. We've got little U.S. aircraft. We've got the little U.S. aircraft. South West, trying to figure out, hold on, we can't have any planes along the entire East Coast. We'll pull up the cone at some point, folks, because it's remarkable that, and thank God, as you said, thank God, it's at least 50 miles off, because if it was 50 to 100 miles to the West, it would just be running straight over land right up to the S. Big buzz off. So, you know, look at this 30. So the 30 year folks, okay, you know, this thing, we're up a point plus four ticks, and you can just see this thing is charging forward, man. I mean, it's a clean chart, and, you know, if this thing breaks this highward volume, I don't see it happening today, but it's what, 1-6-6-6... You better give it some time, man. We were within 7 ticks. Yeah, 1-6-6-25, and you need 427,000 contracts. Now, we'll get those contracts, and so if we do, let's do it this way. I think it's 1-70-something is the all-time high. Yeah, you got it. Yeah, 1-77. Now, watch what's happening here. We're coming into 1-69-31. Let's call that 1-70, because 32 ticks is the low of the high of July of 2016, and we're going for it. That's just the opposite of, you know, like looking at that yield for sure. Yes, definitely, right there. That's the 30, and so when we look at this, let me just see this for a second. So a 30-year, if you want to go and get paid 1.92 right now on a 30-year bond. Yeah. It's pretty amazing. It is, and you know, again, if you're looking to refinance it, yeah, there's obviously the chance that rates continue to drop, but you can always refinance. That's the thing, you know what I mean? If they go to zero, well, you can always refinance a .5 below where we're at right now because you got the 10-year at about 1.5. You can get out there and get a 30-year mortgage at about 3.5%, so depending where you are, you know, if you're sitting at 4.25, give your lender a call because sometimes, especially if you go with your current lender, it can be paid off for 6-7 years. That's a decision you have to make. That's right because when you can do that too, you can pay the same amount, right, sometimes, and you might get a 15 or 20-year, which is pretty cool. Yeah, and a lot of times your lender, especially if you're with a big lender out there, they can just, there's zero risk. They can walk you through that without you putting money out. You know, I mean, they can just give you the straight out. You know, it's a very simple process most of the time. And the kicker is, folks, if you don't have to take cash out, don't because then it's much, it's not that it's much easier, but then you get a real deal that you're really saving so many years and, you know. That can be your piggy bank too. Exactly. You know, it is your piggy bank. You have equity in that home. If you ever need it, you can access it, which is always nice and it's a bummer on the whole. Oh, you know what you got to do? We got to tell the story about the insurance. This is, okay, so insurance companies, folks, right? You got hit in the parking lot. I got hit in the parking lot, right? And the one I want to tell, though, is the thing about- Why don't we do it at the break so we can get our thoughts together? Yeah, that's what I'm talking about. I'm talking about the insurance company. Yes, I see what you're talking about. So yeah, when, um. When when people get an accidents just in and we've both been in small fender benders recently and. Depending on whose fault it is, right? You have a deductible no matter what and just in talking to insurance people, they had said that a majority of people don't have a car fixed. They don't have a car fixed. They don't have car fixed damages. You pay $500 deductible. They cover the other 2000. You get your far car fixed for 2500. Most people don't have the $500 deductible, so they just have the insurance cut them the remainder check. Don't get their car fixed. That says a lot. Unfortunately, people don't have it and we'll finish up. That's unfortunate because most of the time it's not worth it and looking for a secure investment. The Tiger First mortgage program may work for you. The security for these first mortgages are building lots in the tax opportunity zone in St. Petersburg, Florida. 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And yeah, so the insurance part of it is pretty amazing because they only get the check for you know that whether it's progressive, Geico, they come out, they say you got an offender-bender, we'll pay $800 to fix it, right? So if you have a $500 deductible, insurance is really only paying $300. Exactly. Right? Well, guess what? Really, the cost is going to be $1,900, okay? But they go to wherever you drop the car off. The repair shop says, well, listen, you said it's going to be this. You said it's going to be that. We're actually going to have to take the quarter panel off. We're going to have to take the hood off. We have to do this. It's going to be $1,900. So if you never get your car fixed and access the true value of the repairs and you can't pay the deductible, insurance will tell you, well, we'll cut you. The remainder of our check will cut you $300. You don't have to pay anything out of pocket. I love that. And you just drive around with a dent in car, unfortunately. So it goes both ways as it's really unfortunate. Number one, you don't have the money to pay your deductible, which is a bummer, because you're never going to get the true value. You're paying for that and you don't need to access that value in the event you need it. And insurance makes out like bandits, because really they should be on the hook for if it's $1,800 minus the $500, they should be paying $1,300 to fix that car back up to a new vehicle. And meanwhile, they had said, unfortunately, most people don't have the $500, so they opt to say just pay me out the difference. And I believe you still have the option, when you do that, for a period of time, to bring that vehicle in maybe. I'm not sure that. But nonetheless, people don't do it because I'm not certain of that you might not I'm not certain I can see that why they do it instead of paying out 500 They get 300 to 500 and it depends what it is, right? It's a tiny little debt You can live with it forever. You don't really care about it. Not the end of the world, right? But many times I imagine it's unfortunately a dent the size that you really don't want to drive around with right and But it's a statement to the economy. It's a statement to people's savings You know, it's a statement to the financial well-being of most people So let's go take a look at you know We're just talking about the silver market and you know, you get great pant the silver just can't catch a bid So what great pants had done folks is that they did a secondary at 75 cents about a month ago Okay, secondary offer. Yeah, so that pushed some more you know Stock into the marketplace. Yep, what I thought was kind of strange about it really is that okay, they haven't been moving Anyway with the marketplace and it's like, okay, do you really need that extra money? Well evidently they do And you know, whatever there's something that's not quite right here. That's for sure You know now, I suspect we're still gonna go up to this 98 cents because that's some strength Okay, but it needs a couple times the strength man, and it doesn't have it on the day You know silver at 19 bucks exactly. You got great panther trading at where it was in April, right? It doesn't make a lot of sense. No, and then you know, so if we it's not the that's not the only one either Heckler, you know, this has been a mess. You know under where it was in April. Yeah I mean, you know look at that slide 16 Well, I know, you know so you want to talk about an easy downtrend to recognize me. Yeah, no just the opposite would be First majestic Now this is a silver company. Look at the difference. Yeah, this one from 549 to 1147 and you know This this is going after now. This is a much higher volatile stock. There's no doubt. It's going it's going after this high Look at it. It's just starting to get into the lows of the high But that was quite a month from 1915 to 1193. Oh, yeah that that last high in 2016 once we reached that high it came off that high and Accelerated that's you know the bottom line If you're in that metals market folks, that's how they trade man, you know, we're in a one-way trade now Oh, I know what I wanted to bring up. So that's the gold reports at the ETFs. Yes So check this out. This is a big deal folks. So in the ETF market in July and August The ETFs all the ETFs combined now across the United States across the world actually they bought 150 tons of gold and July and August and Oh no, June and July and I just talked about I'll try and pull it up as well. Yeah June and July it was 150 tons in August alone. They bought 101 tons Okay, so this is the typical chicken and egg deal that when they it's great when People are buying the ETF because as soon as they buy the ETF the ETF has to buy Physical gold. Yes, and ours to keep the net asset value. They have to have the underlying reserves exactly Yeah, now as soon as that happens, of course what ends up happening is that gold goes up and then the Equies are gonna go up. The real kicker is always, okay When does that number turn or when does it go flat bottom right now and right now? It is basically going up pretty dramatically. Yeah, and so you have it up there. I mean it's staggering man 154.1 tons of gold combined in June and July and then in August 101.9 and what I the number I want to get is that ETF structures now hold 2,000 400 2,453 tons as of Friday of gold according to Bloomberg now a ton folks is 2,000 pounds, right? So you got 2,400 tons every ton being 2,000 pounds, right? And you want to see some it's wild folks that I remember the day that the first ETF come out and you're gonna be really surprised Depending on how long you've been on the marketplace because picture that that you know This is always about supply and demand. Sure. Okay, and there was zero Demand inside the ETF structure The first ETF out there was GLD November 18th 2004 is that wild? Did the world exist before then what happened man? Well, you know, it's just so funny because I remember when this was coming up and I was I was psyched because I said Okay, they're gonna buy it greater access to the markets with a greater demand across the board right and and what happens is that I was already so used to the XLE the Jews the spies that you know that it's it's it's cool understanding the the correlation because the correlation is direct man It says direct as you get and what you do get is you get the numbers all the time. Yes, you know Yeah, just like those exactly like those and That's not even talking about they well in fact I'll do that some other time, but those those numbers there That's getting higher than many of the whole many of the countries that central banks that own gold I imagine man. Yeah, it's because that actually goes. I mean you just got a lot. Let's pull it up I think we're looking we'll pull up a calculator because you multiply 24 53 times 2000 if you want to know how many pounds and you're looking at No, yeah That's right Pounds so then we'll go even one step further, right? So we're looking at almost five million pounds And not times 28 times 16 at 16 ounces in the pilots, right? That's what you're going And then you want to go brands you're going to brands and we can do it the next let's go all the way down 78 million Ounces of gold and the ETF structure in the ETF structures now. What's gold sitting at right now? 1550 well, this is I don't know the calculators. We're going to get a lot of zeros here folks 50 and 50 You're talking about that's really that's the million. That's the billion 121 billion dollars in value of gold In gold ETFs. This is really cool, man. You know why because that's still small Think about it. I mean that and I always talk about gold being a small market Compared to the equity market Yes, so it is it's about one eighth of a trillion dollars right now tied up and that's just in gold ETFs though That doesn't count people cool and gold that that's right. That's just in the ETFs. Stay right there folks. Tell me I come 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 If you're looking to become the best of the best when it comes to managing your money Let me teach you to do what most wealth managers tell you can't be done Which is how to time the markets. I'm Steve Rhodes author of mastering probability And for the last 12 months timer digest has been tracking my newsletter signals Which have earned me the ranking as their number one market timer in the nation for the s&p 500 for the last 12 Six and three months timer digest also ranks me as the number one market timer for gold as well The fact is markets can be timed and I'll teach you the exact set of tools that I use That is transforming into one of the best at what I do Sign up for mastering probability today by clicking on the newsletter tab on the homepage of tfn.com And get immediate access to workshops where I take you step by step How to use an extraordinary set of tools as well as provide great market calls to sign up today It's amazing to think that Tom O'Brien started his weekly gold report 17 years ago with the first issue published April 7th 2002 when gold was trading at under $300 per ounce gold peaked at more than $1,900 in 2011 and after spending many years consolidating at lower prices gold may be poised for its next big run Tom O'Brien publishes his weekly gold report every monday morning for subscribers consisting of coverage of the xa u Hui gdx the dollar bonds south african rand as well as 25 different mining equities with specific buy sell recommendations As of april 1st of this year the gold report currently has eight active positions with an average Unrealized profit of almost eight percent for each open trade new subscribers get a 30 day money back guarantee So you have nothing to risk for all the details and to start your gold report subscription today Visit the front page of tfnn.com. Don't let gold's next big run pass you by sign up today Since 1984 basil Chapman has been using the Chapman wave methodology to advise traders of his expert market opinion Well, originally hand drawing charts from the late 1970s into the 1980s Basil noticed that prices under most circumstances virtually always had a certain number of legs to the upside before declining sharply Later basil found that computer software which included the standard market technical indicators enhanced the degree of accuracy in calling price turns As well as market trend calls thus was born the Chapman wave sequence Using the Chapman wave methodology along with other indicators basil Chapman advises his subscribers of his expert market opinion Each market day with his opening call newsletter right now You can get a two week free trial to the opening call basil's daily trading newsletter by visiting the front page of tfnn.com Cancel at any time during that trial and pay absolutely nothing Get your two week free trial to basil's newsletter the opening call today by visiting tfnn.com This segment is brought to you by think or swim for more information Just click the think or swim banner on the front page of tfnn.com Welcome back folks. Uh, uh, that was uh down in 321 nazis off 61 s to p's are off 18 and uh We'll switch gears over to brexit because not to switch and gears but brexit is on the table So they have a conservative over there. I guess going and sitting with the liberals in their parliament I guess if that becomes official you'd have boris johnson actually ruling over a minority government Now that's not hitting the pound just yet. So I don't know what true effect that's going to have in there Where were we in the pound? Let's pull it up, but uh Really the point being there's going to be a lot of swinging around The news here And you get the pound rallying a little bit back above 120 to 120 98 but early this morning we're down 190 50 Yeah, and you know the way the pound's trading, uh, well, I was going to say it looks like it wants to get off that low, but That looked like that last week when it just dove underneath this again. This is pretty intense man Yeah, so you broke the low from two weeks ago at 120 hit 1 19 59 There's going to be news man. What's it october 31st? We're in september. Can we go to the news for this and see if anything does pop? But I mean we're right around the corner man. It's uh right there. Yeah, and there's no news coming out just yet um Yeah, because we're sitting at 10 55 Yeah, I don't see that news hitting but they had uh They had one of the one of the conservatives over there sitting with the liberals and that If they make that and it might just be a show. That's what you don't know What's go, you know, everything's a show to some degree as they were Jockeying for position as that deadline of purchase man. Oh man You got a lot of different variables out here. There's no doubt about it Uh, you know if we go take a look at the ndx. Let's just look at the ndx quickly So the spy does have volume on the way down today And the x you're 11 million. What do we do? We did 26 I got five hours left in trading You stay right there folks We get um class market coming up next. Well, kevin hicks of this team Man, mr. Bowser's chappan steve rhodes dave white be back this afternoon. Thanks, pal. Thanks, man Oh, yeah, a little get them folks