 The following is a presentation of TFNN. The TFNN Bull Bear Training Hour. Every training day, live at 10 a.m. Eastern. Call now. Tolls free at 877-927-6648 or internationally at 727-873-7618. The TFNN Bull Bear Training Hour. Now, Tommy Anthony, Tommy O'Brien. Welcome, folks. Appreciate your growl and a problem with us out here. Right now, we have the down industry is down 442. NASDAQ off 146. S&P's down 52. Gold contract up $9 trading at $15.23 an ounce. You get Silver up 21 cents. $17.20 an ounce. Light Sweet Crew down $2.55 all those 12 cents. You know, it doesn't matter what industry we're talking about. You're up $200. You're down $200. Oil's up $2. Oil's down $2. Gold's down $50. It's up $20. Totally. Notes and bonds. Guess what? Cold, man. Consistency. Ten-year note up $96. $130. $130. You're bound up a full point. Plus $15. Ticks, $164.13. Kingdollar. Kingdollar up $74. Ticks trading $97.05. Now, Kingdollar had volume. It's today, man. Kingdollar wants a higher price. Euro, yours at $111. The yen is out here at $105.98. And the pound is out here at $120 to $1. That note in bond market, the refinances went up 34% last week. It's not every day you wake up and the 30-year bond is an all-time low. Sprinkle on top of that. The 10-year and the two-year inverting for the first time since 2007. And I had to, like, check my ears. That is some staggering information when you really digest what that could mean. So, watch out. Here we go. Let's see. Let's see what it could mean. You know what I mean? Mr. Kevin Hicks at TD Ameritrade on the spot. I love it. He likes being on the spot. It doesn't matter. You know why, folks? Because he knows what defined risk is all about. And if you want to understand defined risk, you want to understand options, option strategies upside down. Futures, bottom line, defined risk in this market is totally where it's at. Every trading day right here, 11 to 12 Eastern standard time, outstanding program, bottom line, you know, if we go back, just a, you know, a quick throwback. If you go back even 10, 15 years, you never could learn this stuff without paying thousands of dollars. I mean, there should be so many option courses at five grand. Guess what? All you have to do is turn on TFNN every day, right? You're going to know it all. And you're going to know it from someone that was in the pits, not someone that was reading a few books. Kevin Hicks, what's going on? I should be charging tuition. That's what I tell the young kids here. The reason I brought it up is that there's plenty of folks that didn't realize, I think, that, you know, there's a lot of young folks that this was something that, you know, people were charging five and 10 grand all day long for three days. Definitely. So they tell me, yeah. Yeah. So I've been told. Yeah. And I got to tell you, man, yours is 10 times better. You know, the first, the first time that I get into options, right? I read Larry McMillan's book. I'm going back to the 90s right now. Which might be the most boring book ever written. And let me, let me tell you something. I, tell me the story. I used to throw it off the wall. It'll cure, it'll cure your insomnia. Well, I was just, you know. How many formulas are in that book? Yeah, exactly. Yeah, that's what it is. I know. And it's so much easier, folks. It's turning on the TV, hitting the button. You bring it through it. Technology, man. It makes it easier. It does. You see it live. You know. And this market, Kevin, let me tell you, Macy's. Poor Macy's. You're going to go shopping, man. You're going to get out there and do some shopping. Yeah. You know, I'm going to put my selfish hat on for a second here and say that has there been a better summer for trading in the last 10 years? There hasn't. There hasn't. I mean, if you think about this from your trading perspective, markets going up, markets going down, making big moves, volatility moving all over the place. Here's one bright spot we can take from all this market movement is financial institutions, big banks have to be seeing a boost in trading revenue. Yes. That's going to come up for next quarter, the next quarter's earnings. So that may be some silver lining in all this because these markets are cranking and moving. So that's got to be a good thing, at least long term for some of these firms. And as the VIX hasn't really been staggeringly high, right? No. You hit on something right there. For as big as some of these percentage moves are, the VIX hasn't really gone to a panic level at all, really. I mean, VIX 20 or VIX 21, where's it now? I'm looking at my board. 2049. Yeah. I mean, that's not, you know, think about it, that's less than a one and a half percent move. If we go by, you know, the rule of 16. So it's elevated. And for August, it's higher than the average. And it's pretty strong for the summer. But with the moves we're getting, I would expect it to be higher, frankly. When we get a thousand point swing last week in the Dow down there. Yeah. And we just had a 500 point swing over two days. I mean, you did it staggering. Yeah. Yeah. There's, you know, we get some action here, man. But the real question and the real thing that your viewers should start thinking about and what's going to start creeping into some of the rhetoric and discussions here is your own power going to move mid-meeting? Yeah. In between meetings. Yeah. I have to chuckle because we've come so far from, like, where we were because the conversation was like, yeah, what if, well, what if he comes in, somebody says this morning, I was listening to Bloomberg, and he cuts by three quarters of a point, you know, and I was like, man, we have come so far from, like, let's hike. But that is the conversation, you know, because this is getting a little dicey. I mean, the bond market, like we started off. And remember, that's not unprecedented. No. That's not unprecedented lately. Right. In the last few years with Janet Yellen and Jerome Pop, but the Fed moved on rates, you know, there were times when the Fed moved on rates mid-day, no meeting, no real announcement. Just a few minutes. Yeah. Greenspan and Rubin, I said that, yes, I'll never forget that day. 3.15 in the afternoon, folks, in the middle of the market. This is when the market was, oh, my God, the dial was probably only at 12,000 then or not even, it might have been at 8,000. And it was, like, down 300 and then it ended up being up 500. I remember standing in the GE pit trading and all of a sudden you're like, all right, what just happened? You know, there wasn't CNBC, there wasn't all these news programs. Then it was a little ticker tape on the bottom of the screen and you're like, all right, something just happened and then you see a little ticker tape. In the trading world. There's no doubt. You know, there's the where, I'd say the volatile is in here, we get good six, eight weeks, maybe longer of heavy trading opportunities, man. There's still some earnings coming up. Oh, yeah. Walmart, I can't wait to see what happens there. Walmart, you know, no doubt, that's back from the, not back from the dead, but you know, they can definitely give Amazon a run for their money now. Think about this, guys. They expected revenue for the quarter for Walmart. Oh boy. Around 130 billion. Yeah, I know. We would go down in a half a day. No, that's for 90 days. Yeah. Exactly. Exactly. That is amazing. It is. And you're right. They are. You know, originally when Amazon started and really became significant, you thought because of the way they, their membership base, that Costco would be their main competitor, right? Because two membership companies, but really it's been Walmart. Yes. That has given them the most competition because they've been able to keep margins low without a membership fee. So it's really, I mean, Walmart has been the most amazing company in this evolution of retail. And you're starting to see, you know, it doesn't mean that Macy's going out of business, but they need wholesale change. They do, man. No doubt. Folks, right here, 45 minutes from now, outstanding program. Check it out. Kevin, you have a great one, a safe one. Of course, we look forward to program in 45 minutes. Walmart today, guys. Hold on for the ride, baby. 130 billion. Thanks, Kevin. Have a great one, man. Thanks, Kevin. Thanks for having me on, guys. Thank you. Stay right there, folks. Tommy and I come right back. 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Many of our new listeners have heard about The Tiger's Den. The Tiger's Den is a lively community where professional traders and investors can meet, exchange ideas and information in a comfortable, moderated atmosphere. Hear all of the TFNN shows, plus see all of the charts as they happen live and head 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. Details on The Tiger's Den are on the front page of TFNN.com. Check out the new TFNN.com now and experience all the upgrades. TFNN.com, educating investors. Call now. Toll free at 1-877-927-6648. Internationally at 727-873-7618. Welcome back, folks. Dow. Dow is down 4.44. You get the Nasdaq off 1.57. S&Ps off 3.50. Let's just go inside the Dow here for a second. I was like, where is he going to start? There's almost a million places. Usually, I might have some idea of what's moving and you could almost go anywhere right now. You could. And inside the Dow, so negative points. Goldman 41, Boeing 36, 3M27, Apple 26, only one positive is that Coke. That's improctor, I guess, right? But barely. And it's kind of across the line. It's kind of like, and it's kind of across the board, man. You don't see it so often where, you know, there's 15 stocks, they're all adding 14 or more negative points to the Dow. That's why you have the index down almost 2%. And the X100, strength versus the weakness out here. Look at this, only two that are positive. So was that Coca-Cola in the Dow? Yeah. And now we have Pepsi. Pepsi. What's going on with soda? I know. People are still eating sugar. I guess if we hit a recession, there's going to go for a sugary beverage. Yes. It comes soon to go off 8.3%. AMD is down 4.5. C-trip is down 4.6. ASL, AML is down 4.3. That's a chip company also. Big numbers. Yeah. It's not small numbers. As they would say for sure. They're not. What were you just looking at? What article? Oh, we were. Oh, we were. Oh, yeah. So check this out. Yeah. They were talking about the exact date. They were talking about a lot earlier on Bloomberg this morning. But man, they got some staggering numbers of losses in there. I mean, one of their risk, one of the main risk factors the company highlighted in their publishing and what they're putting out there as they go public, the ability to achieve profitability at a company level in light of our history of losses. Basically, they're telling investors, we've lost money for a while. We're going to continue lost money. We're at a struggle to reach profitability in the near term. Look at this. The company has described some of its more scrutinized expenses, including a flashy contest series that costs more than 40 million. As a critical means. Am I reading that correctly? I think you are. We'll click on it in a second because I'm curious myself. And let's see. So in an unconventional move, there will be three classes of common stock. Oh, they really got to take people to clean this. A shares with one vote plus high vote stock in the form of class B and C shares. I wonder, what do they get? Like 100,000 votes per. That's what you can do. Every class B share gets 100,000 votes or something. And immediately, that's how Mark Zuckerberg controlled Facebook completely, even though he doesn't own 51% of the outstanding shares. So the office rental company listed an offering size of 1 billion, which is typically a placeholder. So they're going to revise that. They're targeting a sale of 3.5 billion in September. So it's coming, man. Next month, we're almost there. That would make the second biggest IPO topped only by Uber. And we know how Uber went, right? Well, in fact, I hit one of the targets in the den. So we pull up Uber. Look at this. There we go. Uber, all-time low today, they went public at 45. So shave more than 20% off that price level. Now, and when we say 45, this is important for folks to wrap their head around. That just means 45, if you happen to get it, the... Oh, look at that. The day I went public, I never went over 45 either. Oh, that was a real bad IPO. I actually recall that they just got a tick. And we remember talking about they at least had to trade it up to the IPO price. Wow. Because that is a big difference. The story would have been it didn't even reach it. Ah, they touched it. Oh, it hit 50 or 60. Sometimes it happens that you see what the IPO goes up, but the day it goes out, it goes out higher and then gives it up. This one, it was on the gate at lower prices, and they actually pushed up a little bit, make sure it touched that 45 mark. Yeah. Yeah. Yeah, so... I mean, they're just priced for a huge valuation. You know, a great company, but just priced for a huge valuation. And you got Lyft competing with you, let alone if other players start to get into that market for ridesharing. Oh, yeah. And Tesla has talked about their plans, you know, whether you believe what Elon Musk says or not. Yeah. The plan is to have those Tesla's driving around, picking you up. Same deal. So Lyft went public at 72. Pretty similar. And this is trading 55. That's a very similar, like, 20% haircut. And now, see, this is the difference. Look at this. Lyft went public that day, but guess what? It really opened at 78 and went to 88. Yeah. And if you recall, Lyft was ahead of Uber, so the market... That's right. ...figured out. That's right. That's why Uber had more trouble, because by the time Uber had come out... Disaster. ...the market had already figured out there was more... There wasn't as much exuberance. The people already had taken it to the cleaners. Yeah, so they weren't about to do the same thing with Uber. They learned their lesson on Lyft, and so Uber, they haven't even... ...touched it to the penny. And that's it. Bye-bye. Let's go take a look at the dollar index. So we had... And we got our man, Mr. Teddy Kegstad, coming on today, which is great. Talking forexed, 40 past the hour. So we're up 154 ticks. You get 9,200 contracts. Now, yesterday we came in with contract volume, so that gets it that... Guess what? Once you're over this 9,715 again, it's like, okay, game up to the top again. You can see that spike. That spike, 27,000 contracts. You know, I actually expected to see more action in the dollar when I was jumping through everything today. And then I went to the markets. I went to oil, gold. And I was like, oh, man, I wonder what the currency is doing. It could have been a little more intense with what you have happening. With the bonds, too, excuse me. So I went through all of it, and then you go to the currency, and it's like, oh, man. And you're on. You can see that's right when we get on. The Euro took a dive, folks. If we put this longer... Well, I guess this is going to go against... We had strength down here. What is that? That bottom is 111.05. We've hit 111.44. Yeah. So there's a lot of moving pieces. What was intriguing of last night is the aspect of... It wasn't like there's a lot of news that just moved this market down. So that's telling me, folks, that we're going south now. I would agree. You know, it's a sell-off. And I think as those headlines come out about the bond market, that is the news. But what made the bond market go to all-time lows? Right. Nothing staggering, exactly. And you know, pretty... So crude oil. We got the EIA numbers coming out at 10.30. We're trading basically a 55 rent on the dot. Man, we mentioned it. Talk about some volatility, right? You backed things up to yesterday just for some context. Early yesterday morning, we're trading a 54.23. You trade up more than $3 by noon, practically, right? To 57.43. And now we're down $2.50. Right. So it'll be interesting to see what kind of premium and where these line-ups... So let's check out what kind of... Because they had a small build last night. Okay. And it was 3.2. Nice. It got hit immediately. Okay. So this might work out well. We're near $55. We're going to be looking when we're trying to set up a volatility trade, right? You'd be trying to basically... It's equatable to buying a... putting a call right at the money. That's what you're looking for. So we're looking for $55, maybe on some of these that line up. The 11 a.m.s are a little bit off. I was hoping... There we go. Perfect. The 12s. I don't know why I knew they might move. It's just because they've been setting every time as this has been cascading down. So, $55 to $56.50. These are the noon expirations. You have a buck $50 to the upside. Now the bullish one's going to have $8 pennies of intrinsic value. That's nice, though. Not bad, right? No. You're paying $33 for the one with about $8 to $9 pennies of intrinsic value. If you want exposure to the downside as well, this one's going to be a little bit cheaper because it's out of the money by $8 pennies. You're paying $24. You're looking at $57. A little bit more expensive than usual, but when's the last time we looked at this market and you had almost $3 of upward movement and downward movement almost in the last 24 hours? And let's just see how the dailies line up. Maybe we can find $55. Now, so that's going to have $55.50. That'd be a little bit out of the money. And unfortunately, that's going to have $54.50. So, the noon to be your option. Not bad. And again, you can always take one side or the other. Right. You know, if you were positional and you really had a bias, if you're just looking for volatility, you can take both, but not a bad trade as well. I mean, you know, you're going bullish. Now what's that volatility we've had right now? You're paying $0.24 of premium, essentially, when you have an hour and a half and that crude market about to come out with the numbers. 877-927-6648. We have that hour right now down 410. Nasdaq off 146. S&P's down 51. Tommy and I 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, 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 brief 30 days, then head over to the front page of TFNN and you'll find market insights under Trading Newsletters. 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For more information, just click the Think or Swim banner on the front page of TFNN.com. Folks, Dow, Dow up 407. You get the Nasdaq down 147. S&Ps off 51. Let's see. They're a little slow with the news. Here we go, rising 1.58 million barrels. That might be more than they thought. API did have a build of about 3.7 last night, but we saw the Bloomberg estimate come in a decline of 420. And let's check back to the market, see how the market's reacting. Pull up the chart. And a little quick reaction, but nothing too staggering. It did spike. Man, this is so quick. It was up there at 55.36 for a heartbeat. 55.16, we're coming in at about 55.08. So nothing too dramatic and checking back to the numbers. Gas inventory is falling 1.41, and there's the full line. So the median estimate was a decline even greater than that of 2.5, so a lot more crude, about 4 million barrels than they thought. Gas, decline of 1.4, estimate decline of 1.1, so less gas. You have distillates down 1.9. The estimate was for an increase of a million and cushioning minus 2.5, pad 3 minus, excuse me, plus 1.7, and then you have imports and refinery crude inputs, excuse me, inputs as well. So let's see. Yeah, it's not holding. No action. No action at all. And of course, I think one of those trades the last thing you'd want was expiration at noon to 55. But we got an hour and a half, man. Give that crude contract a little time and faith and you might see some action. No doubt. So let's go over to the XLE, because the XLE is basically leading the match lower. There you go. That hasn't been able to get a bounce. Four months ago, you had $68, you had $57. You're going into the lows that were established last week. That was $57.16. You had $57.26, we've hit $57.03. Yeah, this is just like saying, hey, I want to go back to its friends in December. Now, this is going to be intriguing, folks, and this is why. I expect that we're going to make it back to December lows in the S&P. Now, we're a long way from those right now. We're making our way down to the June lows. But because of the way you can see the XLE, we're already back there. You know, the high of that low is $58.01. Well, we've hit $57.03 today. So that's going to be a heads-up in general, because if we'll get back there, if the XLE gets back there, the probability goes higher. The market wants to get back there. And then the next one to watch, which is surprising actually, is at the banks. The banks, you know, right now, that's the June one, I think. Yes, yes. So right now, we're basically eating into the June bar. You know, that top of that is $26.29 or $26.37. But what is still sticking out here is this... Let me pull this back. It's this way. We'll have to first tackle the June bar. But that December bar is a pretty big bar out there. So it really hasn't... You don't have a decisive break yet, but you know, you're getting close to it, meaning there's a trend line break, you know what I mean? So that's... And Berkshire. Berkshire's the first one. This is what is... So what's this? Berkshire's one of the first ones to get much closer to this. And this is the highest weighting structure inside the XLF. And you can see this. This is interesting. So the June, May one is $197.07, and you're below it. And so that does put game on, you know, that December is open. And you know, little by little, what is happening is that you get a few of these sectors making it down into that level. Yeah. That's like, okay. Because watch this, folks. This is... The S&P is, I mean, a long way away from this. If this S&P goes down here, this is going to be pretty intense, because when we're talking about... The number I'm talking about down here is like 2524. And the high of that is where 2520. What are you talking about? 2346. Yeah, it moved, yeah. And then 2520. And we're at 2875. Yeah. So... It's like a 20%. Yeah. That'd be pretty intense, you know. I'd say so. The first level, you know, is going to be this June level, which is 2728. But guess what? When you wake up in the morning and there's not much that happened last night and your S&P's are down at 45 points, that's how you get there. Well, then you've got to be listening when the 10-year and 2-year invert. There's a reason why. Yeah. You've got to be listening when the 30-year is at an all-time low. There's a reason why. Yeah. For sure. Unreal. Yeah. Unreal. So, hey, let me go look at a couple of these housing stocks, because the... Toll brothers is down 57 cents. That's no big deal. Lena, down 87 cents. Let me put this up. One of them have earnings this week, next week. I think they have coming up. Okay. So, let's take a look. No, they've already done it. How about Toll and then maybe KB? Let's just look at these. Yeah. Oh, there you go. There you go. So, next week. So, this is good. That's Toll brothers. That's going to be next week. They're going to be looking for 1.7 billion, 83 cents to the bottom line. What's going to happen with these builders, Mike is going to be looking for... Do you have a... How big is the backlog? Sure. You know, the... We saw what happened when Macy says part of that was an inventory build. Yeah. 5 billion dollars, I think, an inventory message. Right, right. Could you sell something instead of putting it in your storage? Seriously, man. So, the houses, I mean, even more dramatic when you're talking about items that are hundreds of thousands of dollars to start to build that inventory. That's right. Well, congratulations for building it. You're going to sell it at any time? That's right. Right, right. What I mean by the I mean, that's what... Yeah, that's what they're going to be looking for. Yeah. And we'll see what will end up happening. The number that I was looking at this morning, it was saying that the refinances were there, right? Okay. But not new mortgages. I couldn't believe it, right? Yeah, you know what I mean? So, the refinance market, folks, went up 34% last week. But in that same article, so you can find it, the new sales hadn't. Yeah, but... The rates... The rates have been low for a while, right? Yeah. I mean, if you were to sell, maybe you've already hit that mark. Yeah. You know, did you really... Versus a refinance, that's most of the time just a simple phone call. Versus you're not buying a house, you know, it's simple math. And I've actually been getting calls from my mortgage person. Right. With messages just in the last two days. So it's probably hit that... Did Bud call you? No, no, he's not. He's not. Yeah, because they bought my mortgage through... Yeah, right, right. But just getting phone calls. So it's probably, maybe it reached the level because I had a pretty good rate. Maybe they know my rate, they can offer me simple math. So pictures, Tommy and I know the great mortgage broker. Yes. I had lunch with them on Wednesday... Monday. Today is Wednesday. Wednesday. So it was last week. Okay. Friday. There we go. And they do. You just said, so watch how this works, folks. What ends up happening is whoever has your loan, yes. They know, or even had it. Okay. Sure, they know the math. They know what you're at. And so what ends up happening is, especially when you're not taking a cash out of it, right? Yes. It's an automatic, what Bundy explained to me, it's an automatic, all as they do a light credit on you. And what that means is a light credit. He says, you just want to see if the mortgage has been paid. The mortgage is paid. So picture this. Picture that if you were at 4.25 or something. Yep. And they can offer it now at 3.75, right? Yeah. The bottom line is that you just do the deal and that's it. Now, listen to this one. This gets intriguing. What happens is this. So when you do that loan, they can still get some fees inside it, right? Okay. If you get a VA loan. Okay. Right? They can't put fees on top of that. Nice. Which is pretty cool. Yeah. No. So if you get a VA loan and you're at 4.25 and now they can give you a 3.75, I'm sure there's some kind of fees but there's not the point fees. I got you. There's some discretionary and whatever there's extra fees. There's not the vague on top of it. Yeah. There's some discretionary that we know they're all unnecessary. Non-transparent. Exactly. Reading those HUD statements, folks. That's a class in itself. You need a degree for that. You do, man. Yeah. Stay right there. Tommy and I come right back. Dow. Dow's down 4.55. Nasdaq's up 162. S&P's down 57. We'll come right back. If you're in the CD market and looking for a secure investment, the Tiger First Mortgage Program may work for you. Security for these first mortgages are building lots in the tax opportunity zone in St. Petersburg, Florida. 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That's Forex dash trading dash unlocked.com. And, you know, we were just talking about mortgages. Companies work. You know, the bottom line is that they had to hear us talking about mortgages because as soon as we pulled up Teddy at Forex dash trading dash unlocked, guess what? Rocket mortgage. Quick and loans, they're listening to us, Teddy. Big debt is everywhere. They're spending money right now. They're calling me. They're doing everything. We were just going through mortgages, Teddy. And we pulled up there. I said, look at that, man. We pulled up Forex trading unlocked, and boom. Boom. That makes sense. So we get action. No doubt, right? We certainly do. We certainly do. You know, it's kind of funny. We had a lot of swing trading things and a lot of news over the past couple weeks that we've talked about. And I think today is the first time we're not going to be really talking about central banks or anything like that, which is kind of nice. What's very interesting is I think that we're coming into a period of a very reluctant bull. Yeah. There's nothing that we're doing in the U.S. that's really making the dollar strong. It's just that the whole world is doing everything to make themselves weaker against us. It's like this morning, right when we started the program, that Euro took a dive, man. You know, the Dollar Index had some volume yesterday, so it's like, okay, someone's buying it. But that Euro just took a dive. And I was saying to Tommy, is that going to be, is Brexit on the, you know, the dollar trade and higher too? You know, everything. Yeah. Well, the economic numbers have been pretty bad that have been coming out of Germany and France and stuff like that. So they're playing with the definitely economic fundamentals right now in the EU. Okay. And then Brexit, we know that obviously a hard Brexit is the best thing we can hope for, if anything, on October 31st. And to be quite honest with you, I don't think it's going to happen and the trend. I think what's giving the dollar index is the biggest lift right now is that the pound and a lot of other currencies actually are eroding against the dollar. But you look at the yen, Tommy, I know you love the yen. Yes. That market right now, we know that the interest rate variable is pretty much stable with that, you know. So as far as that's concerned, that's the only currency I think it's going to remain a bull against the dollar right now for quite some time. I don't think it's going to change your mind, you know. Yeah. Yeah. It's, you know, trying to figure out the, I mean, the yen looks to me like it really is going to try to go after 99. You know, it started banging in, you know, that flash crash down there, you know, it's like, okay, it was that 104.87 was hanging out there forever. Well, guess what, we hit the 105.5. So it's like, okay, that baby evidently is game once again. I think any rally in the yen is one you have to sell right now. For sure. So, and I think it's going to be the one that's going to take the lead going into the rest of the year because we already know that with the EU, I mean, look at how the Euro's been trading for the past six months. Even though it's looking a little bearish today, it can't seem to catch a break or a rally no matter what, you know. So the pounds, the one that's in the free fall, that's not going to end. And I think actually we might see the pound continue to trade lower up a year from now. It could keep this trend going. Boy, when you take a look, you know, I get a long-term, well, the 2016 with the Euro up here. Man, they've really lost some big value, man. I mean, you know, look at that. I just, I just put it back 10 years. Right? You know, if you're, if you own in those currencies, you have less wealth. You go from 150 to 110. That's a big, that's a big number, man. Yeah. So, but how about that yesterday? Oh my God. That's, that's, that's crazy, man. Yeah. Well, they have all kinds of other issues as it is, you know, so that's where, and that's where like, you look at the major currency crosses. I trade all mostly predominantly only major currency crosses. When you start to get into those exotics, that's when you start to see some crazy things that happen when you have issues like what's going on right now. Yeah. No, I don't know what you're talking about. Not the paper. That's for sure. You know what I mean? Not the paper. Well, over there, you know what's going on, they're going in the crypto currencies. Yeah. Tom, we're bringing that up. That totally makes sense. You know what's interesting about that? That's the first time that even in my own head that it totally made sense that crypto currencies, because I says, hey, the probability seems much less that the crypto is going to lose value versus what those coins can do with their own pay. Seriously, that is amazing. That really is amazing. You know what's going to be interesting, guys? I think that people need to pay attention to is that the South Koreans with the Japanese right now, they're starting to stir there. And I think that if this thing doesn't start to get kind of mediated within the next couple of weeks, that's going to become an issue going into the fourth quarter. And that could happen. Tell me what you're talking about, then. Are we talking about a currency war? Well, it's a trade war and a currency war against South Korea and Japan. So they're not necessarily friendly to begin with. And it seems like I was actually just talking earlier this morning with somebody. I'm like, I think we need to take all the world's leaders and send them all back to kindergarten for one year. Nothing happens for one year because nothing happens anyhow every year. Great idea, man. It's seriously, and that's what's going on with Japan and South Korea. And now you also have the Chinese numbers that are weakening and blah, blah, blah. While you have other markets that are thriving, the last thing they need is an intra- trade zone tariff war going on. So that could really start to change. And that'll affect our trade as well. Oh, yeah. I mean, there's huge amounts of China coming around. South Korea was the number one, I mean, memory used to be Japan and then South Korea. And then, of course, China opened up and China took not all of it, but the bulk of it. But yeah, there's no doubt there. That's pretty intense, man. It's a powder keg brewing. Yeah. Well, you know what, and I've said this many times, like, you start a fight and it seems that the longer the fight goes on, you forget what it's like. Now, how do you get out of it? You know what I mean? And of course, everyone, like when you're getting beaten up, everyone wants to stop. Oh, I hope someone breaks up this fight, man. Everyone wants to save face, too, right? Yeah, but you know, if you get into beating, if someone breaks this fight up, man, you know what I mean? I don't think anyone's going to step in to mediate this fight. Exactly. Different animal. This thing is getting accelerated down, man. We've got 60 points right now on the way down. All the markets down at least 2%. And it is not even 11 a.m. Yeah. And you know, you're in a unique spot, Teddy, because what I've seen in markets in general, when markets really go south, it's normally a currency move that really shocks markets. So it's going to be intriguing here to like, okay, what is hanging out here? Yeah. Right. My God. Listen, folks, every trading day, you can check them out at forex-trading-unlock.com. It's forex-trading-unlock.com. Teddy, you have a great week, a safe week, and of course, we look forward to speaking next Wednesday. Thanks, gentlemen. You guys have a good fight. Thank you too, Teddy. Thanks, man. Stay right there. Tommy and I are coming by back. This is the best at everything you do in life. It's the most common trade 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 Mastery 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. 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 has transformed me into one of the best at what I do. 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Since 1984, Basel Chapman has been using the Chapman Wave methodology to advise traders of his expert market opinion. While originally hand-drawing charts from the late 1970s into the 1980s, Basel noticed that prices under most circumstances virtually always had a certain number of legs to the price turns as well as market trend calls. Thus was born the Chapman Wave sequence. 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. 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's down 500 NASDAQ's up 173. S&P's up 61. And I want to go into the bond market and show you something for a sec because we finally figured it out. I finally figured it out anyway because I always, you know, when Tommy was saying that the book the 30 was at all-time lows, I'm saying to myself, well, I know the price of the 30 is not, but this is what it is, folks. And so when I'm bringing up bonds here And I think you went you asked one when you needed the generic one. What happens is that I'm bringing up the futures. So the last time that we were in all-time low what you did have is that the futures price was higher. That future price is 177.11. Because this is what the deal is. The future, of course, is that if your momentum's on the way up or they're paying more like in this particular case, this is the future in September. So they were paying more for that bond and the future. Now, if you bring up the TLT and if you were trading just a pure flat 30 year, you to me, the bottom line is that you would see that you're breaking all-time highs. The TLT has done because the TLT is the 20-year plus and what you're going to see is that this is a decisive break, by the way, of the TLT. That monthly is crazy. You have the all-time high was 143.62. We're at 145.12. And to zoom in on that, I think I have it up. So this is the same chart just a daily for the TLT. And I was saying, man, so July 31st, we were trading at 131.66. 11% in bonds in 11 trading days. Three, six, nine, ten, 11. That's a percent a day. What happened to like calmness and no volatility in bonds, right? Yeah, right. Yeah. Stay right there, folks. We got our man, Mr. Kevin H, TD Ameritrade coming up next. And our man Mr. Basil Chapman, Steve Rhodes, Dave White. We'll be back this afternoon. Thanks, pal. Thanks, man. We'll get them, folks.