 The 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, Tommy and Tommy O'Brien. Welcome folks, appreciate your growl and a problem with us out here. We have the Dow Industries down 30, Nasdaq off 9, S&P's off 5.5. Gold, gold down $8.30, trading at $14.65 an ounce. We get oil up $0.94, trading $57.95 a barrel. Loads and bonds, you get the tenure down 9-6, $129.16, the 30 off 21 and $159.21. Now that being said, folks, which you actually have out here inside the note and bond market once again, we got volume on the way up yesterday. You get monster volume on the way up today. We've already done 1.3 million contracts in the 10 year. Now it's given it up at a price, but what I've seen on a continual basis is that when you get to higher highs and you have this type of volume, you're going to be right back top side. So bottom line, the notes and bonds, I suspect they're going to be fighting it out all day long. King dollar, King dollar down 9-6, trading at 97.841. The euro is at 110. The yen is out here at 108.65 and the pound, which is on the move top side once again is at 129.46. That thing looks like it wants to go to about the 131 level. Tom O'Brien, what's going on? Good morning. Another day in the market. We got some action. That S&P seems to like that round number of 3100, right? There's no doubt, man. And bottom line is that, you know, yesterday, Market said right off the first couple hours, try to get to a new all-time high, first day that hasn't end quite some time. Bottom line, let's go over to our man, Mr. Kevin Hinks, a TD Ameritrade, Thinkorswim, as we do each and every Tuesday, Wednesday and Thursday, folks. And if you want to, don't forget, every trading day right here, 11 to 12 Eastern Standard Time, outstanding show, Kevin and his team, you want to understand option, option strategies, futures, defined risk, has it all. If you haven't test driven yet the Thinkorswim platform, it's so easy to do. You're sitting on the site right now. Just hit that banner, bring it up, go out and trade paper money, and you can follow Kevin and his team each and every trading day. Kevin Hinks, what's going on? Good morning, Tom. Good morning, Tommy. You know, this day that started out so slow, I really was expecting it. I thought it looked like, and I mentioned this morning, we feel like we're starting Thanksgiving week a little early. This is a slow drifting market for sure, having some trouble getting some momentum here as a bunch of news releases try to gate each other out to do here other than maybe keep your powder a little dry into next week. Kevin, you know it's so cool and Tommy, this is amazing you're saying this, right? So pitch this. And folks, energy in general in the world to me is where it's at. So before the program today, my first question to you, Kevin, and I was always going to text you saying, hey, I'm going to switch gears on you because I want to talk about are we already starting in the holiday deal? Because you've made such a great heads up in the past few months, that when you're coming into the summer, you've got your bottom line, you want to come into the summer. So what my question would be is that, I mean, I absolutely agree with you. So inside the option market, when you're coming into Thanksgiving, when you're coming into the Christmas, what do you look at? You know, you have to be a little careful, I guess, right? Sure. There's times when markets trade with energy and they surge. And then there's sometimes when markets drift. And that doesn't mean they don't move, but they don't move with any exaggeration or momentum or volume starts to lighten up or moves don't hold when they go higher. They kind of run out of gas. And those are the things you've got to look for. Right. When you're coming into markets like this, I feel. No, no. And just be careful that, you know, these will run out of gas. Sell-offs will run out of gas. Yes. Right, right. You know, and yesterday we got to see, I mean, we're talking about it, but you know, bottom line is that the target held price, low sell price, and Home Depot kept going low. So this is really intriguing. I mean, this is, this is, well, we'll see whether it's actually a separation. I don't think it's going to be separation for long myself, but bottom line, that was intriguing, man, right? Yeah. A lot of these names, town that are trading at all time highs, their earnings and their forward guidance is really getting scrutinized. And I think that's why you're seeing some weakness. When you're up at these levels and you run like some of these stocks are run, you got to be perfect to hold these levels. And any weakness, I think is getting, is getting at least in some of these things. You saw it in Walmart, right? Yes. Look, that should have given all these traders a heads up when you saw Walmart surge higher and not hold. I thought that was really a warning signal for the retail part of this earnings season. So that's a huge point. That's kind of what I'm paying attention to for sure. No, I can definitely see that because if, you know, folks, if you put your side on the money manager side, this market is up huge for the year. Right. So it's like, okay, where November 21st or 22nd or whatever it is, right? And to November 21st, it's like, hey, man, you know, you're at highs, the prudent thing would seem to be to take some money off the table. You know? Exactly. At least not activate new money at these high levels, right? Yeah. Just lighten your load on the upside and wait and cash see if you get any reason, you know, for this market to sell off between now and the end of the year and participate then. But yeah, this is tricky because, you know, you're looking at a bunch of money managers, what you just said, Tom, with returns in the 20s in terms of percentile. Oh, it's a monster. It's a monster number, man. You get the final most of the year and people are going to start protecting those profits. Yeah, it totally makes sense. And I guess the, and once, I mean, Thanksgiving's next Thursday. Yeah. Right. And there's no data until actually Wednesday if you notice on the calendar, you get a pretty big data dump next Wednesday right before the holiday, and then nothing for the rest of the week. So it's actually not a bad week in terms of economic data, but it's one day you're getting a lot of it. Yeah. And then we had the Fed Minutes yesterday. They came out. That was kind of intriguing. I mean, you know, prior to that, when you look at the Fed fund future rate, I mean, they weren't banking in another quarter point cut like for like almost a year and a half. Right. I think Jerome Powell is what he really did. His comments and his rhetoric really solidified the fact that we're on hold. Yeah. How many times do I have to say it? I'm going to make it real clear we're on hold from the time being we want this dust to settle on these last few moves. Yeah. I just wanted to add, so I looked up last year because we all remember kind of how things went last year, Kevin, and it's pretty remarkable even to see it myself and I don't know where we're at. December 3rd, we were trading in the S&P at 2814 and by Christmas Eve or the day after it was 2316. You're talking about 500 S&P points in the month of December just last year alone. And I bet that people are aware of the type of sell-off that they could have. As you say, you got 20% profits. You're coming into the end of the year. That's just even as I went back and looked at it, I said, my goodness, man, I can't believe it was actually 500 S&P points that we dropped in the month of December last year alone before. Of course, now we're sitting at 3100. But I bet that will add to people being a little bit worrisome as that comes in. Right, and two things about that, Tommy. Number one, it skews the percentages this year. Yes. Right? Because some of this year, what you did, you're making money back that you had really left the first week in October of last year. So if you take the first week in October last year until now, the returns aren't that great. Right? But it's been a wild ride as you know that fourth quarter was a massive sell-off. Huge. Folks, right here, 45 minutes now, outstanding program. Kevin, you have a great one, a safe one, a great weekend, and we look forward to speaking in next Tuesday. Great talking to you guys. Have a great weekend. Thank you. Stay right there, folks. Tommy and I are coming 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. Heated 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. You also gain access to the webinar that Steve Dahl and Tom O'Brien just hosted, the best way to use the TAS Profile Scanner to profit. This webinar archive is available for all subscribers immediately upon signing up. All new subscriptions also come with a 30-day money-back guarantee so you have nothing to risk. 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You can still visit us at the same tfnn.com URL, but when you do, you'll see a new and improved homepage with a much simpler navigation, whether you're watching Tiger TV live in high definition or just accessing your newsletter subscriptions. We even have new pricing in six months and yearly options. Check out the new tfnn.com now and experience all the upgrades. tfnn.com, educating investors. We're at 727-873-7618. Welcome back folks. Tom and Tommy O'Brien, we do appreciate you growling and prowling with us out here. Well Tom, we got a little movement out here. S&Ps are down five when we went into that break and bottom line is that you're down 11 and a half and a little heartbeat here. We sure were. I made mention of that 3100 price point, which is kind of right when we started the show. We jumped up to 3105 before I could even get the words out of my mouth. And then yeah, we're trading at 3097 man. We're actually now below where we were trading at at about 4 a.m., which was 3098. And of course, you can go back to last night. We had a low in the S&Ps of about 3091, which kind of correlates to where we were right at about 1 p.m. yesterday. So that'll be interesting to see if we get down to that level. Yeah, there's no doubt. I get the NQs up right now, folks. And so the NQs made a low yesterday at 10 past 1. And that low is 82, 31. And we're only 30 points away from it. And the NQs, folks, just so you understand how they liked the rock, they just went, yeah. So in the last 10 minutes, they just went down 30 points. So 30 points for the NQs, bottom line is not a lot. And the expansion of volume that we did have yesterday was pretty substantial. Hey, how about just a recap, and I mentioned it to Kevin, but I couldn't believe it. Would you have remembered that the S&Ps went down 500 points last December? No, because... And I knew it was an insane drop, right? I knew it was insane, but I couldn't believe when I actually pulled it up on the chart and I have it up there right now. I had to put it back on a daily going back. And that's not the full drop. That's just in December. Yeah, because it started in October. Right. That's why... You put it on the weekly and I got the chart up. It started in September. Look at that. We're sitting at a high of about 29.36. You went down for a low at the end of October of 26.03. Now keep it in mind, right? Because you trade from 26.03 up to a high of 28.14. So you're talking about 200 plus S&P points to the upside. Yep. And then December 3, and then the low I believe was December 26th, which Christmas Eve was a bloodbath for sure. But I just couldn't believe when I pulled that up that it was 500 actually points from the high to the low just within the month of December. And as Kevin mentioned though, I mean, a lot of the gains, we had it all back by February 25th, which is remarkable. And then still from 2800, we're now up 300 points more than 10% even from that level, right? Even from that level we're still up 10% from where we were at 2800 as in we're sitting over 300 S&P points from that level. But if, you know, you wouldn't think that was by far the worst Christmas Eve that we ever had in terms of movement. And so that's going to be a little bit more on people's radar as you have huge profits. Things got decimated at the end of last year. And I'm sure there were a lot of people that saw bonuses disappear that could have been huge. And... It was a 20% correction. 20%, 2-0. In the final month of the year, too. Yeah, all right. And where I add things is we just saw the news come out yesterday, right? Saying that the trade deal might not occur through the end of the year. I see more possibilities for surprises to the downside than I do for the upside because I don't see a trade deal getting done. And even if it does get done it's kind of, you know, we're at all-time highs. What is the expectation that we jump, you know, 100 S&P points again, 200? It's possible. But I imagine that there could be things could dissolve further than I imagine they could resolve. And listen, when you're in the probability business, which investing is, the bottom line is that, you know, you're at this 3,096. Is it the next 100 points down versus up when you're at all-time highs? And we, you know, have been at all-time highs, I mean, you know, bottom line. It's been a straight line move up since October. Yeah, that's for sure, man. Let's go take a look at the, we got some movement, you know, we were talking about bonds a little bit earlier, folks, and what you have is that yesterday we had volume come in the note and bond market. Today the volume is a monster. Okay, when Tommy and I were on the air and we started on the air yesterday, bottom line, I suspect we're going to get a couple million contracts and let me see what we end up getting, actually. And this is, and it was because we were at the 1.1 million contracts, which is good contract volume coming into the marketplace. And, yeah, we got 2.1. This morning, folks, we're at 1.49. Now what had happened is that you got to a higher high. You're coming into a swing point that what you're looking for is like a 2.2 million contract. Yesterday we had 2.1. And the bond market, once again, is moving forward. When we just did that update, when I did that update at the beginning of the hour, the bonds were down at 1.29. This is the 10-year, 1.29.14. Well, we just got a pop to 1.29.19. Yeah. So this is saying quite a bit. In the correlation, bottom line is that they were also whacking gold. Gold got down at 1.14.63 and gold's rejected lower price also. Silver's actually going to go positive. So this is going to be interesting to see. I'm not quite sure what's moving all of this right now. Well, we know buying and selling, but I'm just saying in general, do you know what I mean? Sure, sure. Silver just went positive. So there's some movement out here, man. Hey, I mean, we were up at 3,113 as of 8 a.m. and we're now 17 S&P points below that level that's more than half a percent. And just like you said, there's really not anything traumatic that's driving that. We got a weekly jobless number. You might say that it was a little bit more, a little bit more pessimistic than the market may have wanted. 227,000 for the week. Basically unchanged, but they were looking for a number of 2.19. Okay. So they come in at 2.27. 8,000 jobs in the term of the country's economy shouldn't be a dire change of things, right? So no real huge dramatic news. And we're watching the market kind of sell off a bit to 3,096. Well, just as you're talking, you must be selling the Dow industrial simultaneously, Tom, because we'll find out what's inside of this. The Dow's down 92. Now let's just see what is the driving forces inside the Dow. And we know inside the Dow, the waiting is so skewed, folks. You don't need much to really get the thing going. Boeing, Home Depot, right? Well, Home Depot's up today, though. Yeah, Boeing's down. There you go. Down 21 points, okay. Yeah, we got Boeing putting 21 points in the downside. 3M, 16, Traveler's 10. Now, for the Dow being down 85, that's not a lot of points that they're negative in. It just happens to be that you have a lot of these equities that are putting three or four or five points that are negative. And there's not a lot of positive inside. You get Home Depot putting five positive, ExxonMobil three, and Caterpillar two. There's only three stocks. They're adding more than a single point to the Dow, and it's two, three, and five, you know? So it's kind of spread evenly to the negative side. It is. So let's go take a look at the NDX100. The strength versus the weakness there. The strength, you get NetEase up by 3%. Tesla's up 1.6. McCott-Leverie 1.1. I see. So watch this, folks. This is, you know, I talk about this all the time, man, that it's the NDX100. And inside the NDX, it's the chip stocks, man. They can bring you up and down. And look at this. CLAC is down 5.8%. AMAT 3.2. LAM Research 3. They're selling these chips off in a monster way. Hey, we got natural gas inventory breaking right when we come back from this break, too. That's a beautiful vein. Let's see how much natural gas we got, how cold it is across the country. Tommy and I, come right back, folks. Stay right there. 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. I use my years of trading experience to bisect and dissect the market every morning and give my subscribers the most important information they need to know for the day ahead. I even issue afternoon updates for my subscribers whenever warranted with important market action. I'm always scouring the market for the next great trading opportunity. 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The Art of Timing the Trade Chart is designed to help you when scouring the markets for stocks just beginning to form the trading patterns that many investors spend days, weeks, or even months searching to find. And right now, we're offering licenses available for only $79 a month. We are so confident that you're going to love this new charting software that will even give you a 30-day unconditional money-back guarantee. Don't miss out on this incredible new piece of software. Get your copy of the Art of Timing the Trade Chart today by visiting TFNN.com. Looks like we got stockpiles fell 94 BCF. They sure did, man. And I got that natural gas, the December contract up right now. And boy, oh boy, we just saw the price jump about four pennies from 255 looking at the December contract. And you're trading right now 258.3 about. Quite a drop, man. 94, the estimate, like you said, about 90. The whisper number I think you mentioned is a decline of 89 billion cubic feet. I guess that cold spell, we got a little bit of coolness in the air in Florida, but I know the rest of the country, man. They've really had some cold tearing through the Northeast and so forth. So everybody using their natural gas, depleting those stockpiles even more than the analysts had estimated. And natural gas jumping around as we speak, now trading at about 258. But it looks to be a little bit of higher price pressure as those stockpiles come in under even what they thought Yeah. So this would be interesting to watch this the rest of the day, folks, because, you know, natural gas, no doubt, you know, bottom line, it went to time. You should be able to catch a bid. That being said, we know that, you know, this has been a consolidation for quite some time. Then, you know, the top of that is like 2.8 or 2.90. The bottom, it lately has been, you know, not 250, we hit 240 a couple months ago. So it should be a big day because it should be able to hold price I mean, if that, you know, if you're just looking at the fundamentals that, okay, you know, a little more of a drawdown. But we know that being said, if you have been looking at the fundamentals in natural gas for quite some time, you're in trouble. Oof, right? Yeah. It's the market that it might take is that the market, you don't want to trade. That's what really comes down to, you know what I mean? I mean, that's why we like bringing up some of these in the Nadex platform, wherever you're doing it, man, get some defined risk, because boy, oh boy, these moves can be so quick. I like doing that for the oil trades on Wednesday as well. How about oil, man? Let's jump back to oil as we talk about it, because talk about a run yesterday on that oil number, right? We're trading right up to 58. We're trading at 57.91 right now. I'm going to explain this oil chart right now. And yesterday, when that number was approaching, just to put things in perspective, early, early yesterday morning, 3 a.m., we're trading with a 54 handle in the price of January crude, all right? We get the number at 10.30, which is what I have on the chart right now. We were trading at about 55.75, call it before that number. And it just extended the gains by about almost one o'clock. You're trading at 57.35. And it didn't stop, man. We did back down to under 57.56, 68. That's about 5 a.m. But we're up at $58 about, and you go $3 from 3 a.m. yesterday, so, you know, the span of 30 hours, call it 3 a.m. $3 in the price of oil, man. That's a volatile market just like we're used to, but man, oh man. No doubt. And the last tide that was generated out here, folks, happened to be Monday at 58.17. So it's going to challenge this number again. And we'll see if it can basically handle it. The volume characteristic is not there right now, but guess what? The price spread is, you know? $3.00. It's pretty remarkable that we get $3.00 moves in the price accrued when it's, you know, one of the highest demand markets out there in terms of the amount. You put that in perspective, the amount of oil we use on a daily basis, and it moves that much, but just remarkable. No, every day is no doubt. Every day, exactly. Fill those tanks up. Yep. So let's go, oh, well, we know, hey, listen, this is going to be a big deal. It hasn't got announced yet, but the speculation, folks, is that Schwab is going to be taking over TD Ameritrade. Talk about a combination of two giants, man, and we're in the trading industry, you know? TD Ameritrade, thinkorswim, a sponsor, man-o-man, quite a combination if that deal comes to fruition. There's no doubt. So you get TD up $7.94. You get Schwab up $3.70. Let's just see what they have to say, because they haven't announced it yet. They, it was saying that they... Okay. And did you, go ahead, go ahead. I was just going to say, did you see Ameritrade back off from the gains that it had, man? It was up to $53.64, and now you're back down to 47. So it's more than $6.00, paired off the kind of exuberance that it had at the peak early this morning. Look at that, huh? Interesting. Yeah. Yeah, this is going to be, this is going to be, it's going to be really intriguing watching this whole thing play out. That's, it's a big number. And the, you know, the industry in general, we can go, go through it, maybe a little bit later, but, you know... Yeah. I mean, Schwab had, I just, Schwab had the same exact kind of, you know, huge exuberance early up to $51.81, and now back to about $5.47.88, both of them up dramatically. And the numbers are staggering, man. I have the article up here. We can just jump to some of the numbers, because $5 trillion, $5 trillion with a T, combined assets the two of them would control. Yeah. And it's a $3.8 trillion for Schwab, $1.3 trillion for TD Ameritrade. And I mean, just staggering, man, in terms of where that comes from, you know, the combination between the two of them. And I wanted to get, yeah. So Schwab had a market cap of $57 billion, TD Ameritrade 22.4, I think those numbers probably as of the close yesterday. They're the two biggest publicly traded brokerages out there. So that's in, you know, it's a great, you know, you got somebody in the den over there saying, will they be allowed? I haven't seen any talk about antitrust concerns in anything that I pulled up today. And maybe that's because you have, whether it's interactive brokers, whether it's J.P. Morgan's trade and Robin Hood's the likes. You got down to zero commissions. The history of, you know, the brokerage business in general with TFNN folks, okay? This one is really a cool one because what happened is that we had CyberTrader as a advertiser since like 1998. Early, early. That's right. And CyberTrader folks is one of the best electronic platforms out there. And what happened is that Schwab bought CyberTrader because of the platform. Yes. Then what ended up happening is that Schwab kept us for another seven years or something. Then we got lost in the mix. I got lost in the mix at some point of Schwab. And when it ended up happening, we got lost one month. And then I was at the trade show. And we got TD. We got Think-A-Swim. It was Think-A-Swim. That's right. That's right. So that happened. And then TD Ameritrade took over Think-A-Swim. And we would, across my fingers, we were really lucky. We were one of the only advertisers that they actually kept because what happens is these companies get bigger and bigger, folks, okay? It takes more in order to basically stay there. But what ended up happening is that because compliance-wise, we had everything they needed, we were lucky. That was the real bottom line, okay? And they liked what they had in place at Think-A-Swim. TD Ameritrade, they've kept that brand, of course, because of what it represents. You have the TD Ameritrade platform, but you have the Think-A-Swim platform because they believe in it. And as we do, man, I mean, I got it up right now. For sure. So go ahead. And what happened, too, is that that was the same thing, that TD Ameritrade bought Think-A-Swim for the platform, and then they integrated the Think-A-Swim platform into their whole system. So it's going to be really intriguing now because we still know, in fact, the big options guys at Schwab are still there. If you remember, Randy used to do a show right here. Randy Frederick. I believe he's the chief options principal. I'm not sure the exact title, but he is a great guy, man. And I know he put out a book that we, you know, promoted as well, man. He did a program himself at Tf&N for a while. Right. As Tom Sosnoff did it for a while, it'll be really interesting to see what this plays out. Quick 21 years, right? Yeah. My God, unreal. Stay right there, folks. Tommy and I are coming right back. We have the dial right now at our 93. NASDAQ off 28. Yes. S&P's off 11 to come right back. If you're in the CD market and looking for a secure investment, the Tiger First Mortgage Program will work for you. The security for these first mortgages are building lots in the tax opportunity zone in St. Petersburg, Florida. The Tax Act of 2018 set up tax-free zones across the country where you can build and hold for 10 years and pay no tax on the profits, which makes these lots valuable. The investment is anywhere from 30,000 to 75,000. The interest paid is 7% yearly paid on a monthly basis. According to bankrate.com, the best rate for a four-year CD in the country as of February 20th is 3.1%. A $50,000 investment at a normal four-year CD rate would give you income of 1,550 per year or 6,200 over the four-year period. 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The funds are designed to be utilized only by sophisticated investors such as traders and active investors. Distributor, Foreside Fund Services, LLC. Then hit Watch Tiger TV. That's TFNN.com. Then hit Watch Tiger TV. For the latest market information. Welcome back, folks. Dow down 78, Nasdaq's off 23. S&Ps are off 9.5. And let's go over to Bitcoin, Tom. You know, we haven't looked at this for a while, but you get a little movement once again in Bitcoin, folks. You're at, you're down 477. Oh, yeah, this is going to be important. So, man. So, the last pop- It's been a quick fall since, yeah, that 10,000, right? Yeah, you know, you got the pop-up to 9933 and you're going to the bottom of the range, yeah, which is 7305. So, let me pull this back a little bit. Boy, oh boy, what a Christmas present this would be. Bad Christmas present. Grinch. I was like, wait a second, are you loading up on Bitcoin? No, Grinch, that's what I mean, yeah. I mean, for people that own it, you know what I mean? Of course, of course, yeah. You know, if you break this 7300 level, folks, there's no reason you can't get down to like, oh my God, 5300. These numbers we deal with with Bitcoin are like really strange, man. They sure are. Do you talk about defined risk? If I'm trading Bitcoin, 100% of my investment I'm putting in there better be the risk. I'm willing to risk because you could wake up tomorrow and that price could be 3,000. Oh, yeah. Or you could wake up tomorrow and it could be 12,000. Right, there's no doubt about that. Again, WeWork just came across the tape, folks saying that they're going to basically cut 2,400 jobs globally. And I'm not sure exactly, you know, how many jobs they have out there, but 2,400's the start. No doubt. SoftBank pairing some of those cash burn. Oh, yeah. Now that they basically own the whole company. Yeah, big time. So let's go over to Elbrans. So this is going to, this is pretty intriguing. Elbrans, okay, which is Victoria's Secrets, as well as Bath and Body Works. That's the main drivers behind Bed Bath, I mean behind Elbrans. Victoria's Secrets, well, they take in 2.7 billion. That right? No. Yeah, they've taken 13 billion a year. 13 billion a year. Yes. They took in 2.7 billion this quarter. Now out of that, Victoria's Secrets is 7.4 billion and you get Bath and Body Works at 4.6. And look at that three year growth on Victoria's Secrets. Negative 1.3%. Oh, yeah. That business, great business when it was there. But the bottom line is that, you know, you can buy this stuff a lot less expensive. It's almost like, you know, you got the, you know, your buddies came in the razor market. They came in the, what, the sunglass market. Yeah, Warby Parker, Harry's. You got Dollar Shave, right? Exactly. I mean, you got a lot of those, you know, women's apparel. You got Kylie Jenner launching her own plant. Billion dollar makeup company, right? That Alta is now pushing, that just got basically purchased a majority stake of. That's taken business from somebody, man. Oh, yeah. And you can't listen. I mean, on just about every radio station, if you've ever heard Third Love, you know, I don't, that's still a private company. But the bottom line is that they run ads. It's a, they sell bras. And they have, I mean, they run ads like, I mean, it sounds like, it seems like, hey, I'm every 30, 40 minutes on, it doesn't matter what station it's on. So let's just see what they have to say though, because bottom line is that, I mean, well, first off, the stock is down in a dramatic fashion. I believe it went from 85 to 17 in three years. Let me just say. Yeah, just huge, man. Public companies are not supposed to be having growths with negatives in them. So. 98 actually. 98 in November, three years ago. No, four years ago, four years ago. November of 2015. 98 down to 17. Well, down to 15 actually. So let's see what they have to say here. Okay. So they're saying that Bath and Body Works has given them some juice. Okay. So. Oh boy. Look at that comp sales for Victoria's Secret. Look at that. So comp sales at stores and online fell 7% last quarter compared with the average estimate of 4.7. That's a big number. That business is going south. Now Bath and Body Works rose the measure. It doesn't say. It says that metric. So I believe it's talking about comp sales again, right? Increased 9% at Bath and Above. I mean, that's a big number. Bath and Body Works, you know, for sure. I'm just going to jump over because I think it ties in well. I was reading an article earlier about Macy's claiming sluggish sales on weak shopping malls, right? Really ties in. You think about Victoria's Secret. You think about Bath and Body Works. Two kind of staples of the mall retail sector that you walk past. Maybe they rely, especially Victoria's Secret, relying on that mall foot traffic. And, you know, you have Macy's out here saying their stores at weak malls suffered during the quarter. It says it's going to offer more details to investors at a meeting in February on what it plans to do with some of those stores. It seems like this is the continuing deal. I thought Macy's had decided to close all the stores at weak malls, but they still got, I think they're just saying, you know, weaker US shopping malls were hurt by slower foot traffic during the last quarter, leading to a steeper than expected sales decline. I wonder if that's going to be the mantra from the CEO of L Brands, especially on the Victoria's Secret side. But how do you square that if you're growing Bath and Body Works? Maybe there's some difference in the online. But I see that Bath and Body Works. I associate them with buy two get one free type deals as you walk past that store. You know, Bath and Body Works always has a 3E for two type deal that seems to capitalize versus the retail companies have done so well where they have a brand that people love that you actually seek them out. You order them online. I don't see that being the Bath and Body Works type of business model. No, no doubt. And, you know, what you just brought up, now this gets really intriguing folks about Macy's getting rid of their stores that, you know, that they thought were weaker. And I really like Macy's, okay? Sure. And guess what? I haven't, and we have a beautiful mall, the International Mall, okay? Great mall. I haven't been there in a year and a half. You know what, just so it gets lost, I think Macy's is at West Shore. Oh, is it? Two of them, yeah. Okay. But I agree. I haven't been to West Shore either. That's why I say it jokingly as in that's how lost the malls get, you know, you're not even, and to be fair, they're two, I confuse which stores are in each one myself all the time because they're two pretty decent malls. They'd be classic malls. They're only a mile away from each other. Yeah, classic malls in Tampa. But I agree. I agree completely. When I was doing the show with Basil a couple weeks ago, the morning program, we got a call about Macy's and we had a great conversation. And I think the consensus was tell me where they fit in the retail sector and the caller, Basil and myself could not really identify, you know, that it's not a bad store. They got everything in there. Yeah. But man, oh man, they're bigger than a warehouse. They got everything you can think of and they send out, I have a Macy's card. I haven't used it in a while, but I have a Macy's card, right? I get deals all the time that are almost meaningless because everything is saved 25%, save this, save that. They just, I love Polo Brands, which they have a bunch of, but again, you know, it's not something that I'm going to go actively try and spend that money when you're not getting a deal. You're not getting a bargain, that's for sure. And, you know, I get the chad up here right now, folks. This is really dangerous. I mean, the low is out there, 1420. We hit 1430 today. This is pounding those lows and this is saying that Macy's wants to go to $7 or $5. So, you know, $12 would be next, but this is a chad that is like, oh, you get it. I mean, it's just pounding it with volume. And we're not, you know... And even, I think that call came in when Macy's just sitting somewhere with, you know, $17 bucks and we're now, you know, more than $2. That's 12, 14, 15%. It's huge numbers that's moving. Stay right there, folks. Tommy and I are coming right back. Dow is off 83. Nasdaq's down 25. This is a piece of 10. We'll come right back. 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Using the Chapman Wave methodology, along with other indicators, Basel 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, Basel'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 Basel's newsletter of 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. Dow. Dow down 89. Nasdaq off 28. S&P's off 10 and a half. Some of the higher volume equities out here, folks. You get advanced micro down $1. We have Uber Technologies up $1.36. Not quite sure what the bid is there, but it has a bid, no doubt. TD Ameritrade, of course, up $7.90. You get Schwab up $3.67. So you can see the market likes the deal. Oh, man. Yeah. When both of those can go to higher price, folks. Bottom line, you're at the zero commissions and we'll see how they are going to end up making their money. I would love to. I hope somebody, I want to hear the conversation about antitrust. I really do. I mean, there's a lot of competitors. I would just love to hear it because the two biggest publicly traded brokers, I can't see that being good for investors. Robin Hood's there. Sure. You have interactive brokers, but that is going to squash a lot of competition, man. I had Bloomberg on early this morning, like 6 a.m., and I saw a TD Ameritrade ad with options by Think or Swim, one of their segments, directly followed by a Schwab ad. Directly. And I was like almost laughing. So I would love to hear how that's going to affect consumers because number one and number two, my goodness. Right. And if we go over to interactive brokers right now, not getting hit bad, but you know, you're down 32 cents and all these brokerages wore down anyway. Let me pull us back a little bit further because this would be the biggest loser out of it. I mean, you know, monopolies are not good. They're illegal for a reason, man. And yeah, you can argue that there's competitors, but you know, you could argue the same thing if we let Walmart and Target collide, you know, and combine that there'd still be competitors. But man, oh man, the consumer would get hurt. And this is the same type of deal of, you know, brokers, the top biggest public companies. We'll see. It'd be interesting. It will. Stay right there, folks. We've got, man, Mr. Kevin Hicks, Think or Swim coming up next. And then I'm Mr. Basil Chapman, Steve Rhodes. Steve White. Thanks, pal. Thanks, man. Love you. Well, look at him, folks.