 The following is a presentation of TFNN the morning market kickoff With your host Tommy O'Brien Tuesday morning everybody hold on to your hats folks because it's gonna be a wild one out there We got CPI running hotter than expected and the markets not liking that so far man You're down 70 points in the S&P's that is 1.4 percent from where we closed out yesterday's action and pretty remarkable That you've given up almost a hundred points just like that folks from the highest we had yesterday man You talk about a little volatility man. We get a little bit of a shock today We're gonna have plenty to talk about this hour and stay tuned S&P's down by as I said 70 points 1.4 percent of the red Nasdaq 100 So much for 18,000 down 326 points. That's a drop of 1.8 percent trading at 17,000 637 now for some context here. We're only back to where we were trading at last Wednesday Okay, but nonetheless quite a drop the Dow off about 1% right now 38,000 494 and how about the Russell off by 3.5 percent 3.5 percent folks down 71 points the Russell is down more than the S&P right now and the Russell is under 2,000 and the S&P's are trading at almost 5,000 down 3.5 percent be careful that Russell man If the economy is doing well, why is the Russell having such a big problem crude little volatility crude up 66 cents right now trading at 77 57 We take a look at the gold contract. Well, what's happening? We know what's happening folks when you have gold down like that What's the dollar doing? You know what it's doing? It's going through the roof, baby We're gonna get to it gold down 18 dollars at 2014 quite a drop from where it was at 2045 but that's what's gonna happen when you see this kind of drop in the price of the 10-year We're down almost a full point from where you were trading We got a 109 handle in the 10-year at 109 29. You're talking about right now down 26 ticks in the 10-year that is putting the 10-year yield at 4.28 percent 4.28 man. We're gonna make a run back to five I'm not saying that okay. That's a long way from where we are right now pretty remarkable We're at 4.28. We were sitting at almost 3.8 percent not that long ago. Take a look at this thing on a daily man Right. Look at this. We're now through the 38 to the point 50 is 109 10 the point 618 is 108 25 And that 108 excuse me 108 12 that 108 12 folks look for that area That was a little bit of an area where you chopped around in November also an area that you made a little bit Of a short-term high back in October that would bring you back to the Point excuse me the 618 retracement of the run we had in October and maybe that's what sets the stage Maybe the market needs in a little bit of further Recalibration of rates which is driving so much what's going on as we're sitting at 4.28 right now on the 10-year think about that right now Here's the thing that you want to consider as well So we're off of 3.8, which was literally made like February 1st, man Okay yields. I'll have to get a yield chart Maybe somebody can help me on the dent, but I'm pretty sure on February 1st We were approaching a yield of 3.8% and by February 13th folks were trading with a yield of 4.3% now the point being on February 1st Okay on February 1st Here's the turnaround in the market to a degree The market was trading at 4877 so you're telling me that the 10-year has went up half a percentage point and Over that period of time. We still have the market up a hundred points from where you were trading at right then We got a lot of Fibonacci's on this. Let's take them off. Those are short-term Fibonacci's But yeah, pretty remarkable. You've had that reversal in ve yields now What's happened since then you've had gangbuster earnings from some of the tech companies out there? Okay, so that's the reason why on the earnings front things have accelerated higher But keep in mind that this market is still well above where you were when we had the tenure at 3.8% You might see a little bit of a calibration today That has already begun and we will see where the day brings us the dollar You're right at the 618 just like that man dollar at 104 81 You see the run that the dollar has had from January and you even see the run if you zoom it in from where we Were on February. There's the February. Okay, so you got the dollar up basically two full points from 103 to 105 and in that same time frame, you still have the market higher powered by earnings and the biggest companies out there Which matter but be careful Okay, even sitting where we are, which is why you're getting the type of move that we're getting right now Okay, this market has traded Higher in a way that we have not seen on many friends folks. Okay, S&Ps We were looking at about 41 22 potentially in the S&Ps Maybe we got as five as close as 5066 because this is put it gonna put a little fear in this market to put it lightly All right, we talked about the dolly got check out the VIX this morning, right? There's a spike for you now. We've made it to this level a couple times before right check it out December we were up at 1449 word. Excuse me 1473 January 5th 1458 we're up. We're above both those highs January 17th. We had a 15 handle 1540 January 29th, you made it up to 1535 before we paired it a bit So we're kind of coming right right up to those recent highs We'll see if the market can save itself but I don't think it's gonna save itself today as this is a little bit of a wake-up call for the CPI and Where the Fed is gonna be as we go forward seems like the stage is getting set where man is even gonna be a little difficult now As we get into the data. Okay, there's your headline print consumer prices rise point three percent in January The annual rate was three point one percent. They were really hoping for a two-handle. Okay The problem is we're stuck June of 2023 we were at three percent folks and we're at three point one You had the uptick to three point seven. We're now at three point one. We're in February of 2024. That was June of 2023 now those are all items. Okay on the core front. Yes less food and energy. We're making declines But look at from September to February we're to go four point one to three point nine We still got two full percentage points to go and it's going to get tougher as you get to two percent now. I Understand that you know people have been saying for a long time things could get sticky at around four percent three percent, right? The last mile is gonna be the toughest Core is still at four percent. That's not the last mile. The last mile might be going from two point five to two It's not going from four to three point five. Yes, it's more difficult than when we were back here at above six Okay, but we have gone from four point one to three point nine over the period of what? September October November December and now January numbers is which we just got for CPI pretty remarkable And they were looking for point two percent and two point nine percent when you take a look at the core Point four percent in January three point nine percent We just looked at but point four percent market was looking for point three folks You multiply point four times twelve and you got four point eight percent annualized on a thirty-day Trailing basis pretty remarkable now shelter a huge component of what's going on and we've talked about this on the program before You have the CPI consumer prices shelter a much bigger component in CPI Then is in the PCE, which is the feds preferred inflation grace gauge Shelter Was up point six percent on the month contributing more than two-thirds of the headline increase on a Twelve-month basis shelter up six percent shelter is not as big of a component of PCE So keep that in mind the Fed gets three PCE reports before the May meeting Okay, three They're probably gonna what are they gonna get they're gonna get February March and April before that May meeting I believe so we have a lot of data to come before that May meeting But this was not helpful to put it lightly food prices higher as well a point four percent energy offset some of that down a bit 3.3 percent sliding gasoline, but guess what that's not gonna help us going forward man We got gas at seventy seven bucks crude oil stay tuned folks are coming back We'll be talking our man Kevin Hinks from the Schwab Network fast market. 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And the student has now become the master Steve won the prestigious timer of the year award in 2018 And barely missed that mark again in 2019 Finishing at number two for the year an amazing accomplishment Steve Rhodes is committed to sharing his techniques and knowledge with anyone who wants to learn And he shares his vast amount of trading knowledge every day in his Mastering Probability Newsletter Steve's award-winning newsletter Mastering Probability is delivered every trading day with updates throughout the afternoon Sign up for Steve's market newsletter Mastering Probability And you'll receive access to seven of Steve's educational webinars absolutely free At TFNN all our newsletters come with a 30-day money-back guarantee So you have absolutely nothing to worry about Visit TFNN.com and try Mastering Probability 30 days risk-free today TFNN Educating Investors We got the S&Ps down 65 points right now NASDAQ 100 off 321 You get the Russell off by 3.4% and even on a daily basis Look at this red bar sticking out man We haven't had many of these since the run began in October 27th 4130 up to 5066 Now this A to B C to D folks pretty remarkable It's I gotta back it up a little bit further than that Even there's your three-year weekly Your A to B leg is a thousand points Very simple I just cherry picked the 3,600 back in October of 2022 You take the B point here of 4,600 4,600 minus 3,600 simple math of about a thousand And the reason why I bring it up is because You're almost the C point if your ballpark it right is almost at about 4,100 Okay, that was the 50% retracement would have been about 4,100 And where do we just get to 5,066 almost 5,100 You almost had a thousand point run The first thousand points off of the low Went from October until about August 1st July 31st the week of Okay So you're talking about what 7,8,9,10 Almost 10 months versus we just completed the thousand points folks It almost started in November Three months three and a half You had a 10 month run off the low Which should have been the easiest one Because you know cherry picking the lows If you could ever find the low right The first bounce is always the biggest Usually after a dramatic market pullback But no we just traded up a thousand points So be careful in this market man Context is important in terms of where we've been Where we are in this market How quickly we got there And how quickly things are changing In terms of some of the data that we're getting And the drop off You got a little bit of a bounce going Seven points to the upside on the S&P Off that low above 49,70 And we got 10 minutes to go until the opening bell Let's take a look at some of the analysis out here I'm going to go through some of the numbers And this is just random takes from different people That Bloomberg's got But I agreed with this one Skylar Wynand Not familiar But Dallas based chief investment officer At Regan capital I like this take Okay Think about this take Rate cuts are not justified in the near term As GDP wage growth Unemployment and inflation are all pointing To an economy that continues to run hot As long as these numbers are hot Cuts are not justified by any other metric Other than recency bias Okay Of near term zero Excuse me Near zero interest rates as investors Are still stuck on the idea That rates should always remain low That might not be the case folks And it definitely might not be the case When you think about the productivity gains And the economic growth that is possible With the power of AI I mean we're seeing it man Microsoft's Azure said 6% of their Azure growth had to do with AI These are real numbers When they put that something out Something out like that during an earnings call And the market thinking that somehow The Fed needs to be dramatically lower As a normal nature of the market Think we're getting a lesson here That that might not be the case Okay we're used to the fact that Hey you hiked so far so fast You gotta come back down pretty fast Right no you do not have to Okay that's one of the things That you at least have to consider All right things are sticky And we might be in a new normal folks Because you know near zero interest rates Is not how things are supposed to go This market is on fire man AI is taking everything to the cleaners Okay the economy is strong The consumer is showing it Yes there's weakness areas showing up Okay there are I get it But all the pressure on the cuts Does have to come with the fact That we believe that interest rates Should be near zero Because we were there for almost 20 years And maybe that's not where things should be Going forward for a healthy economy So keep that one in your mind Because I like that take The only metric that points to cuts Is the fact that near zero interest rates Are where we were recently And I think that's a I think that's very true Because if we were not near that We wouldn't be thinking about that at all man You know we'd be saying Now the Fed's at five and a half percent But this economy is on fire Right now look at these numbers man When we talk about where we are You talk about deviation to the forecast Okay we are just beating Over and over and over across the board Over and over and over across the board We are beating Let me try to find some of those more Yeah everything is hotter than hoped for Another take another CFO at Premier Milton investors Mitten investors Neil Ferrell Not familiar as well Now check out this I wanted to talk about super core Okay and Kevin Hicks Is going to be joining us tomorrow Got tied up that was him texting Saying man sorry I want to be on today Got tied up with a little bit of emergency He's going to be on tomorrow Don't forget to check out Fast Market From the Schwab network At 12 noon every day I'm sure today is going to be an interesting one man With this market Who knows where we'll be by 12 o'clock Take a look at super core Now super core excludes housing Okay what do we say Was one of the biggest factors in CPI If not the biggest If not the biggest It was the biggest 0.6% on a month Contributing more than two-thirds Of the number to the headline Okay and look what happens When you even just take out housing though Super core Okay that is core services prices Excluding housing So that's basically core CPI You take out housing as well Right so that's going to be the headline Minus food and energy Which is usually what you take out for core And then minus housing on top of it Right we are in an uptick since October We need to get back to 2% We're stuck at four And that takes out housing So don't blame it all on housing man Pay attention to that super core Check it out diving deeper Into the super core inflation figure What's driving it Transportation services You know why Car insurance Public transportation index Also eased less than in December Folks I was just talking to somebody about this I had this conversation I think on the air My car insurance just went up by 50% in Florida 50% Bonkers Okay I was paying I have almost a five-year-old car Great car BMW Five-year-old car I think I was and I do have an accident From like four years ago It's about to roll over But just from the numbers to put it out man I was paying about 1200 bucks Over a six-month period So about $200 a month For my insurance And it literally just went up to $1,900 For no reason And I'm with Progressive right now I called around of course to get some quotes Nope No deal They're all at around $1,900 now I'm saying how How do people deal with that That is a 50% rise And now I'm paying 300 bucks a month For insurance From my car That's that's Recognize what is going on folks Because that is a real factor In inflation That is out of control And do you remember when Chairman Powell was on 60 Minutes And I came on the next day And I talked about one of the things he said And the thing that struck me The strongest about what he said was We have to get back to a period of time When nobody even thinks about inflation Right Nobody's worried about it Nobody's thinking about it Nobody's talking about it Okay, we were there for 20 years And we got to get back there And I said to myself Wait a second Everybody's talking about it I can't imagine Where we need to go To get inflation out of people's vocabulary Okay And this is another example of how far we are From that point So heed the Chairman's words man Because insurance is a real deal Now you want to talk about housing insurance We have a disaster going on in Florida there as well If you're in Florida folks Get a citizen's quote That's all I can tell you Because that goes into it as well But this car insurance deal I mean in the den If you can give me some anecdotals out there In the den If you don't mind If people are dealing with it What's going on outside of Florida Because that number Is not just in Florida man Okay Supercorps One of the things driving Supercorps Car insurance Come on man There are so many pockets here To dig into All right folks We just started We're coming back for the opening bell Stay tuned We got a lot to talk about this hour Don't go away We'll be back in three minutes folks Are you ready to take charge of your financial future TFNN is your gateway To the world of trading and investing Whether you're starting out Or scaling up TFNN empowers traders And investors of all skill levels With top-notch investing systems Strategies and techniques It's time to protect and grow your money With insight you can trust Join us live Monday through Friday During market hours For exclusive content That moves with the markets At TFNN we bring the trading floor to you Our seasoned hosts Are here to answer your calls and questions Live on the air Check out the Tiger's Den for just $1 And follow us on YouTube And become part of our vibrant community And remember At TFNN we're so confident In the value we provide That we offer a 30-day money-back guarantee On all new premium newsletter 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You have the NASDAQ 100 off 2%. Okay, off 358 points. And let's jump around to some of the biggest companies in the world. We'll kick it off with Microsoft. Talk about a give back for you, 2.4%. I mean, just like that, folks. Microsoft, from where it was yesterday morning, is off $15 from Markable. You're off 2.4% right now from Microsoft shares. That probably gives up $3 trillion, right? Where are you at? Nope, they still got it. 3.01 to the smallest margins for Microsoft shares. You jump over to Apple shares. They're off of 1% right now to 185.47. When we jump over to Amazon, there's a drop for you, 3.4%. My goodness, from 175 to 166 for Amazon shares. We jump over to, let's check out some of the other fang stocks. How about Google down 2.1%? The poster boy off 3.5% in the video shares. How about ARM? Even ARM gives back down 3.3%. Quite the day for them. Quite the week for them back to last Wednesday. But even ARM, look at that volatility, man. Down 3.2% for ARM after quite the acceleration yesterday. Continuing that acceleration. Check out Netflix shares, down a percent right now. Disney shares, down 4.10%. We jump around to some other growths. Yeah, Salesforce down 3.0. Look at these numbers, man. Just mammoth companies just getting absolutely axed on the open. Tesla down by 2.3% at 18366. The other thing on Tesla, man, to keep your eye on, depending on how this goes with the compensation committee and whatnot and if Elon gets paid, Elon's going to be in a tough spot if he gets a margin call and this thing gets down to somewhere around those recent lows of 100. And that is not out of whack if we start getting these types of moves in the market. So be careful. All right. What else we got jumping around to some of the other takes in terms of what we're dealing with here. You know, one of them is talking about that they're going to be coming into election season. Now, it's easy to say it. I don't think it's going to phase Powell. This is, you know, he got asked this question on 60 minutes. He gave the textbook answer and saying, you know, are you uncomfortable raising rates during a political season? Are you worried about doing it coming into an election? And his answer was textbook, of course. Okay, which I'm sure he has worked on. It's a very important question in his position, whether you believe it or not, that's your deal. Right. But if you think about somebody's legacy folks, okay. And as the chairman of the Federal Reserve going through this period of time where you have general educational inflation happening for the first time ever, he caught a lot of heat for being the reason why that happened. Late to the party, right? They really, they've talking about transitory. They weren't aggressive in the beginning of it. His legacy is at stake. And I don't think he's going to be too worried about taking heat on the politics. And boy, he's going to take it. You know, he is. Okay. Because his answer makes a lot of sense, too. He says, you know, of all the variables that we're dealing with trying to get this right, this is his answer in terms of the economy of all the details that we have to factor in of everything we're looking at. If we start trying to make sure that we also factor in the politics of things, it almost makes it impossible. And I don't think he used the word impossible, but that was the point. Okay. And it makes sense, man. All right. We're seeing how difficult this is to get inflation under control, even though the Fed has been tighter for longer than the market even thinks, right? What if the Fed was ever listening to the market? What if the Fed was listening to the market and we already had cuts going on and we were getting these types of numbers, right? You see the worry that they have. Okay. They're probably coming around election time, man. You know, and they make the point here. What's also uncomfortable is that the further into the year, the first rate cut comes, the closer to the election, it's going to happen, man. We're not getting it right now. I mean, maybe if we get some really nice, friendly PCE numbers for the next three months, you might be able to get May, but that's pushing it right now in my opinion. Yeah. Because these numbers are everywhere, man. I mean, you look at some of the food numbers they were talking about in here. Okay. Let me see if I can find this one before I jump around. Yeah. We talked about food. Yeah. Here we go. In terms of food, you had ham falling the most 3.4%. If you include canned ham, that was down 3.1%. All the other meats were basically flat. All right. Now you look at hospitals, and this one's really interesting. A big jump in hospital and related services prices, they rose 1.6% in January, the largest monthly increase since 2015. Outpatient hospital services climbed 2% the biggest increase ever according to the BLS. Now, hospital and healthcare costs in particular folks are a much bigger component of PCE than they are of CPI. So that is not a good indication when you go forward to the PCE numbers. Then what happens? You look at energy prices. Okay. Gas prices have come down. Electricity accelerated in January, the fastest pace since July of 2022. That probably weather related. All right. But what they talk about in here as well, I'm not sure if I'm at the right point in this. They got a lot they talk about is, and I'll find it after this break if I don't find it here, is the energy prices. Okay. Yeah. I think it's a little bit lower. Let me see if I can find it. Because what they talk about was energy has been helpful. If energy turns around and starts being a problem, boy, you better watch out. Because that's going to be, as they call it, the trifecta or something like that, where you basically got everything going up. Here it is. Worth considering the role that energy played in anchoring January's inflation read. Okay. Oil prices has so far shrugged off the Middle East. If that was to change and energy costs jumped. Now, I'm going to pause there to give you a look at energy prices. Okay. We are pushing the upper boundary that we've been in for the last year. Yes, you got a spike in September above $95. Okay. But on a monthly basis, that's September. In December, we were trading at 67. Okay. You put this thing on a daily, you're getting higher highs and higher lows in this crude market. So with that in context, if that was to change and energy costs jumped, it would complete the trifecta for households where you would have food, shelter and energy costs that would all be higher. We just talked about healthcare is going up in the same degree. So boy, there's a lot out there, man, when you put it in that degree, right? Pretty remarkable that it's almost hotter everywhere. You talk about super core. We talked about energy. We've talked about food. We've talked about shelter. We've talked about hospitals. It's a tough one out there, folks. And boy, this market has gotten ahead of itself. Yet again, it seems like, yeah, we talked about the politics out there. Nearly all major basic categories for consumers increase at a faster pace or stayed firm in January. Pretty remarkable, man. While gas prices decelerated, electric bills were higher, grocery prices higher, particularly for dairy, fruits, vegetables, and beverages, shelter prices reaccelerated, used car prices eased, but the price to ensure a car was higher. So there goes that one. Daycare and tuition prices increased at a faster pace. It's remarkable, man. I keep saying it is remarkable. All right, let's jump around as we come in, too. The next break coming up, let's see where we are in yields right now. You got the tenure down by 23 ticks. We're bouncing slightly off the lows, but pretty much right where we were in that first move. We're talking about a 10-year yield of 4.27%. We jump over to the dollar. 104.73 for the dollar. S&Ps off by 60 right now. We jump over to the VIX. V-I-X. 14.50. Not even 15 yet. Folks, stay tuned. We'll take a look at some of the other equities that are moving some of the numbers with their earnings that are coming up. Stay tuned. We'll be right back. Are you ready to take charge of your financial future? TFNN is your gateway to the world of trading and investing. Whether you're starting out or scaling up, TFNN empowers traders and investors of all skill levels with top-notch investing systems, strategies, and techniques. It's time to protect and grow your money with insight you can trust. Join us live Monday through Friday during market hours for exclusive content that moves with the markets. At TFNN, we bring the trading floor to you. 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To obtain a fund's prospectus and summary prospectus, call 866-476-7523 or visit Direction Investments.com. A fund's prospectus and summary prospectus should be read carefully before investing. An investment in the fund is subject to risk, including the possible loss of principal. The funds are designed to be utilized only by sophisticated investors such as traders and active investors. Distributor, foresight fund services, LLC. This program is brought to you by Vista Gold, traded on the NYSE American and TSX under the symbol VGZ. We have the S&Ps right now, pretty much where we accelerated to on that number. We're down by 68 points right now, NASDAQ 100. We're down by 1.8%. You get the Dow accelerating, making lows right now as we speak off by 1.2% now, 450 points in the red, and you get the Russell down by 3.3%. We jump around to some of the companies. So Paramount, they had quite the streaming and I guess just television audience. Let's get up with the number, was it 123 million or something like that? What is it? 123 million viewers, the most ever television show ever. Super Bowl 58, most watched television show in history, 123.4 million. That includes viewers across all platforms, up 7% from last year to 115 million viewers, which was also a previous record. The NFL just gets it done, man. Yeah. Do you know there wasn't even a halftime show until, I think it was 1993, and what happened was is that you had Fox air a live show of in-living color during the halftime that stole like 12 or 15 million viewers or something like that, and the next year they had Michael Jackson. And there you go. Imagine that. 93 doesn't seem that long ago. It is 31 years ago, so I'm dating myself. But pretty remarkable when I was 12 years old, watching the Super Bowl, they didn't have a halftime show. I think that speaks to my age more than the NFL's. Nonetheless, 123 million and it was interesting. So I signed up for Paramount and here's the kicker of this, okay? Paramount, I signed up for them because I don't have standard cable. Okay, I cut the cord. We just have about every streaming option in the house. Paramount to CBS of course, so you could subscribe to Paramount. They gave a seven day free trial. I plan on probably canceling it because we just got too many streaming platforms as is. So I didn't even have to pay for it, but guess what they got? They got my viewer numbers, right? So it's interesting how that goes because I found myself saying, hey, this is going to be interesting how this goes. When you got companies like Paramount, they're pushing their streaming service for such an event like the Super Bowl. They pay so much money for that. Is this going to turn into something that eventually it's almost going to be like some of these events will be Pay Per View because it seemed like I was getting to bargain, man. I signed up for Paramount, used my seven day free trial, paid absolutely nothing, could watch the Super Bowl for free. I don't pay for cable. The last part of that though is that they get to serve me ads, right? And they're selling those ads at 7 million bucks a pop for 30 seconds. But it seems like maybe that business model might even change from there, right? It seems like maybe these types of events, are they going to start turning into like an elevated premium Pay Per View product? I don't know. Not if they sell ads to that degree. But nonetheless, interesting Paramount though, they're laying off workers. Yeah, let's get the headline up for them today. They're laying off 800 employees a day after announcing those record ratings, 3% of their workforce, according to people familiar. They warned of the appending layoffs in an internal note last month. So they gave the heads up there. They want to operate as a leaner company and spend less is what they say going forward. And so they're laying off 800 people. They ended 2022 with about 24,500 people. And yeah, so let's see. They got Paramount Global on CBS, Paramount Pluto, Paramount Plus, Nickelodeon, BET, and Comedy Central. That's what they got up there. They got merger talks going on with Skydance Media. Yeah, Warner Brothers Discovery and CNBC has reported that. They lost 238 million in the third quarter. It's a tough, tough area to compete in, man. And it says a lot that I had no plans of keeping that subscription. And I got almost all of them right now, man. We got Prime, Netflix, Disney. No, I'm missing some. We'll keep going. Nonetheless, Paramount down 2.8% on a pretty negative day with the market, of course. You jump over to some of the other streamers, Netflix down about a percent right now. Disney shares down 0.4%. You jump over to Metta. They're talking about Metta in the den. A little bit of a pop on the open from Metta. Not that bad. Down by 1.6%. You got the NASDAQ 100 down a little bit more than that. We talked about the big stocks, right? Look at Amazon getting a little bit of a bounce, man. It's not bad when you get a bounce and you're only down 1.9%, right? Still quite a haircut. Microsoft down 2.1%. All these equities bounce a little bit on the open though. Apple down by 1.2%. We check out the video shares down by 1.2 as well. All right. We jump around to some of the other companies out. Hasbro stock plunges after revenue drop and a downbeat outlook. Now, this was before the market. So watch out. Look at that, man. They get it back. Unbelievable, man. This thing was down to 43 bucks and just like that, you're back to 50. The market saves itself. Not sure what they talked about on the conference call, but the market must have liked it. They lost a billion dollars, man. Yeah. More than a 20% hit to its fourth quarter revenue. I don't know what they were talking about, but they must have plans for the equity to be almost flat on a day like we have going on right now in the market. They're going to cut $750 million in cost by the end of 225, and there's probably what did it, man, cost cutting. Yeah. Earnings though. Boy, talk about taking hit 38 versus 66. Now, we talked about earnings per share yesterday, right? In the market and how it's priced. Well, that's the reason why when you look about backwards earnings and forward earnings, that you can see the difference in terms of how that may change. All right. And we got a caller on the line. We got our man, Mike from Somerville. Mike, good morning. Good to hear from you, man. What's happening? Traumny, how are you, buddy? Doing good, man. Always here to, good to hear that voice of yours, man. How's beautiful Somerville this morning? Well, I'm Mike from Somerville, but I live in Wilmington, remember? That's right. Of course. Did you guys get some of that? All right. That's no storm, man. How you doing? You hanging in there? Yeah, they cut it down about three inches, buddy. I was hoping for about a foot. I'm not even a skier. I just wanted a foot of snow, but now they're talking like four to six now. Okay. Well, hang in there, man. So what are we talking about? We talking about this market? What are you looking at, Mike? I have two things that I have to say to you, Traumny. Okay? One of them is one of the worst mistakes I've ever made in my life. All right? And number two, I apologize to you. And you want to know why? Why? When you started your newsletter, I didn't sign up when I could have got that deal, and I didn't sign up. And now I have to pay today. I'm joining your newsletter, and I have to pay up for you right now. Well, I appreciate it, Mike. And listen, as we know, listen, you're a funny man, man. There's bigger deals in life, and we all get second chances, man. And hopefully you enjoy it. And if you don't, we got a third day money back guarantee, Mike. And there's no shame in the game, man. Like I say, I appreciate you trying it, no matter what, man. Listen, I'm joining today, buddy. You look for my name. I'm joining your newsletter today, pal. I love it, man. I didn't realize how good you were going to be. Listen to you, man. Listen to you talking me up. I love it. So what do you think of this market, man? Tell me. I brought my money where my mouth is, buddy. I'm buying your newsletter today. Listen, tell me what you think about this market. I know you're watching it. What do you think about this market sitting at 5,000? Mike, tell and give me a perspective. What do you think? I'm shot up to my eyeballs right now, and I'm a happy person right now. I bet, man, quite a day, for sure. Well, make sure you keep your stops in place, man, because we got some volatility in both directions, I think, coming down the line for a foreseeable future, man. This is not going to go away in one month, as, again, they need to see some trends. And, boy, we almost like not going to restart that trend right now, but, boy, we got some work to do, for sure. No, no. That's kind of what I was asking you, buddy. I'm not... Listen, the one thing I don't do, and you don't do, is you don't brag on one lousy day that you're making money. I know that, buddy. That burns me more times whenever I've done it. You know what I mean? We all know what you mean, man. You feel like a king when things are going right. I think we can get a little bit of a trend down here. I think we can, man. Hang on. Can you hang on? We'll finish it up after the break. Okay, hang on, folks. We're going to talk to the market. We're talking to our man, Mike, from Somerville. We got the S&Ps down 1.4%. Folks, stay tuned. We'll be right back with Mike. The gold report. As a precious metal, gold is still king. 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Try any of our great newsletters risk-free with our 30-day money-back guarantee. Just visit the Newsletters tab on the front page of TFNN.com. TFNN. Educating investors. That's TFNN.com and hit watch Tiger TV. Folks, we have the S&Ps down by 70 points right now. We're talking to our man, Mike from Somerville and we're talking markets, baby. And I love that accent, Mike. My dad's texting me saying, I love that Boston accent. My man, Mike from Somerville. He's listening as well. Mike, you've got to love it, man. And I love your father, buddy. And I love your father. And he knows it. I listen, I'm always excited when I see you on the collar log, man. Ah, it's Mike. Let's talk. So yeah, it's not rocket science, Mike. I don't know what's going to happen. But yeah, I probably agree on a risk-reward basis, especially when it seems like the data is coming out that's a little bit more difficult than we maybe have imagined. I mean, I just have the S&Ps up here on a daily basis. Even a 382, just of the run from October, brings you back to 4709, which is 270 points below where we're at right now. I mean, that wouldn't be outlandish. Are you looking, when you say you're short, are you like S&P? Are you in the NASDAQ, Mike? Are you in the Dow? Where are you kind of short? And are you in the market? Are you in different equities? What are you doing to be short? Buddy, I bought the TZA this morning at 7.02. I'm short the S&P. I'm short the Dow. I'm short the NASDAQ. I'm short the S&P. All right, you got the board covered. I'm in SOXS. Yeah, I would hate. I'm short everything, Tom. Just the reason why I say the stops, Mike, only because we're going to get these types of moves, man, and you're going to get plenty of opportunities. So it's not going to be a one-way trip, man. You got 1.5% on the S&P today. You got, jeez, the Russell, 3.7% today in the Russell. On the S&P on a daily basis, and today, we've already done 580,000 on the futures. Yesterday, the whole day, we did 1.1 million. So we're going to blow that away, man. It's not even 10 o'clock. So yeah, I think you're in the right spot. Just keep those stops in place, because we're going to have plenty of opportunities to catch this volatility for the next months as we go forward, man. This thing ain't stopping right now. I think we know that. Listen, you just look for my name on your newsletter, buddy, because I will be reading your newsletter more. What is come out every day or once a week, buddy? It comes out weekly, and you know what? I'm going to get a special... We're going to put out an update just for you, Mike. I'm going to talk to you today. We'll get it done, baby. All right? Love you, buddy. I'm real. That's happening. Listen, you made my day, Mike. Thanks so much, man. Have a great day, and we'll talk to you soon. Folks, thanks for tuning in. Stay tuned. We got our man Basil Chapman. He's coming up next with the Tiger Technicians Hour. We got markets rocking, folks. Thanks so much for tuning in. Have a great Tuesday. We'll see you tomorrow, folks. Stay tuned.