 The following is a presentation of TFNN, the morning market kickoff with your host Tommy O'Brien. Good morning, everybody. I'm Tommy O'Brien, company alive from TFNN 906 a.m. Eastern time. We got 24 minutes to go until the start of trading. It's going to be an interesting Wednesday of action. I imagine folks as the market digest Google Microsoft earnings last night, Microsoft just market loving it up almost 10%. They're going to have to digest the Microsoft and Activision deal getting blocked by the UK watchdog. Doesn't seem to be pulling back Microsoft at all, Activision pulling back justifiably so if that deal is not going to get done. Chipotle power and higher. We got weaker dollar this morning in pretty dramatic fashion from midnight last night at about 101.83 with down basically 50 ticks from their 101.35 pushing the lows that we had yesterday before we accelerated higher in the dollar. We jumped to yields right now. The 10 year seems like the trend is continuing, man. You did see a drop off this morning at about 7.30 and the market gets almost at all back. We're basically pushing the highs of yesterday afternoon. We got up to 115.30. We're at 115.23 right now in the 10 year. You jump over to crude. Price of crude continuing lower. So what do we have? Dollars to jump around. Okay. What to make of that? The trends in other areas though. Crude lower prices yields lower prices. Market pretty dramatically lower prices yesterday. Now we get to the market. You jump over to the S&P. I've been talking about this trend line. Back it up a little bit further. Okay. And the market is fluid, folks. It's always changing. You know, these channel lines will see where they develop. Definitely got ahead of itself Monday. Okay. But this was a channel I was talking about last week a little bit. It was really confirmed on that Thursday drop off Friday. You saw it hit that area as well. It turned into an area of support on Monday. Turned into a slight area early Tuesday and then yesterday. Okay. You get one shimmy right around it and then boom. You take off and look where you hit, man. You hit kind of the bottom of that. Okay. And that bottom was not made from that price point. Okay. That is number one, a parallel line. And it's a parallel line off the one low, the two lows. Excuse me. And depending how you adjust this, right, it's not going to line up exactly parallel. If you do, but pretty close to the third, if you're using a little bit of linear regression, if you're familiar, where does that line end up? It may end up right there with a little bit of linear regression. It may end up even a little bit higher when you take all the lows and the highs in terms of where that channel develops, right? Keep your eye on that channel line. It is a very steep channel line. Even if we catch bounces to the top side, boy, you're talking about job at about 20 points a day on that angle in the S&Ps over the long call. And we get another important number tonight with meta earnings. Tomorrow we get Amazon, we get Apple in a week, we get a Fed decision. Is it one week from today? I think it is. Time is flying. May 3rd is one week from today, April 26 Fed Day, Apple earnings May 4th, as if you don't have enough going on. All right, let's jump into Microsoft earnings. As that is power in the NASDAQ higher in dramatic fashion, NASDAQ right now, NASDAQ 100 at least up 134 points. Yeah, that's a full percent. You see the action yesterday, you see the acceleration. Now what did happen here that first thrust higher at about four o'clock that 10 minute bar, that was both Google and Microsoft. Google's giving it up. Okay, Microsoft has traded higher. You jump over to Microsoft shares. There's your acceleration, we're pushing 297. Now let's break into the numbers, man, they are strong numbers and it always interesting when you see the growth of these companies like Azure, 31% is what Azure is growing at profit and sales top the estimates. AI products are drawing promising customer interest. CFO says, folks, I'll tell you, as somebody that runs a business that operates online, you better believe that my brain is operating. My dad is gung ho rightfully so man about AI and what it can do. And when you approach things from a much more macro perspective, some of these larger companies right that are running things, the ability and listening to some of these in very smart CEOs at conferences talking about, you know, you can say, hey, create this, code it, put it on the website, market it, send out a massive you can just like roll it off, right? And these AI machines are going to create a product page, program that product page, apply banner ads that you your company has to that product page, create a funnel off of that product page capitalizing on people's email addresses, you know, code it all you get the point right pretty staggering that you're gonna be able to do that's gonna be able to do it all we are at the very infancy of AI. When you think that we're just using it for very simple things on a consumer basis right now, right? Write me a thousand word argument as to why you should be in fixed income versus stocks when the Fed is nearing the end of a hiking cycle. Now, chat GPT is not updated recent enough to do that. But those are the things that we're kind of using it for right now, which are just staggering in their own right. It's going to keep going from there and you're seeing glimpses of it in here, which is why I mentioned it and to go over back to the numbers. So raw numbers, they beat 245 versus 224. Okay, and they beat by $1.9 billion for the quarter 52.9 billion versus 51 billion. That's $1.9 billion, right? Azure cloud computing business climbed 31% excluding the impact of currency fluctuations, matching predictions, sales from the commercial cloud products like Azure and office productivity software rose 22% to 28.5 billion. Imagine that they have a segment of their business that's almost $30 billion and they are growing 22% in that segment. So total sales growth has decelerated to single digits after five years of more robust gains. Yeah, Azure and Office 365. And we use Office 365 in the most rudimentary way as a business as and we use it for emails through TFNN. And we use it for the applications Microsoft Word, Microsoft Excel, PowerPoint, etc. You gain access to. But when all of this is tied in, and then you tie things into open AI, their $10 billion investment into open AI, which is really nothing for a company like that $10 billion if it can change the way they operate. I mean, just think of how it's already changed the way you think about Microsoft's Bing, they might get the Samsung contract. Probably the easiest $10 billion we're going to spend shoring up open AI. It almost I was thinking about recently with meta earnings coming up tonight when meta Facebook purchased Instagram for $1 billion. And if you go back to the time folks, it was a staggering thought that you're just buying that picture sharing app for $1 billion that you can put filters on it, right? Instagram's first kind of fame was that they had all these cool filters that you can think about nowadays, how filters are everywhere, but you first to the market, they cornered it. I mean, what is Instagram worth now? A couple hundred billion dollars, maybe some estimates while they cross there, obviously just part of meta in terms of where they fit, but $10 billion to have chat GPT when that name has become synonymous with AI and what it's going to do to society. So talking about the numbers. Yeah, Bing took share in the US search market without offering metrics. Bing has 100 million daily active users and mobile Bing app installations have quadrupled since the launch of AI powered Bing in February. percentages on small numbers can be deceiving. Okay, so quadrupling on nothing is still nothing to put it just how it works. According to one stack counter Bing had less than 3% of the global internet search engine market as of March. Now think about that. And then think about how we talked about that they're potentially doing a deal where Samsung is going to have their phones, the default search feature go to Bing and how the tide could just shift dramatically. That's going to be a headwind on Google man in a big way. They do have YouTube and there's nothing like YouTube under that property but Google this morning. Barely flat to positive. Stay tuned folks. We'll come back with our man Kevin Hanks from TD Ameritrade Network. We'll be right back. 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We've got the S&P up at 13 points right now. You take a look at the spy on this chart that channel and I was talking about pretty well defined right. Interestingly you got above it for the beginning of Monday and the beginning of Tuesday. But boy when we accelerated lower and yeah I keep your eye on it man because that's a price point of about 409 and maybe that's your trading range. As we get up to that price level you're talking about 13 14 points above where at right now they're just mammoth moves in this market that if you can get a nice area that they're trading in folks you're talking about three to four points in the S&P even if you're talking about excuse me that's in the spy as in 30 to 40 points in the S&P. And so you keep your stops in place you can be wrong many times you catch a move of 10 to 20 points. Speaks for itself. Okay. Checking back in Google shares basically flat right now and Microsoft pushing 297 right now. Let's see what else we have pulled up here for articles. Yeah Boeing. So this one's an interesting one. They plan to hike how many planes they're making. That's what it's supposed to say plan 737 rate hike as jet makers sticks with delivery goal rate hike in this environment. Everyone's thinking interest rates right. No but they're going to make more of the plane. It was 37 a day. I think I saw it somewhere. Let's see. Yeah recently many recently uncovered manufacturing defect would not dent its delivery and cash targets as they're going to ramp up the how many jets they make later this year and I did see it maybe it was in one of the other articles. So let's see the company affirmed its target of handing over between 400 and 450 of the narrow body jets this year delivering. See 70 to 80 of the 787. Yeah nonetheless the market loves that newsman because they came out with that manufacturing defect that was going to set them back a bit. You jump over to Boeing shares. We're up to 208. There was the drop off there that prior Thursday I believe so you almost get it all back. Pretty interesting you go from 214 down to 198 right now pushing 208 for Boeing. You take a look at long term of this one channel line not really intact that was on there from a while ago. But yeah quite the acceleration from 120 up to 202 kind of just the top of that consolidation area we've been shopping around this year between 200 and 220. If you're in Boeing I keep your eye on either of those sides of Boeing shares 200 to 220 in terms of where we could end up. Yeah this one this one's a different interesting one man. I was talking about in my program yesterday this article's out last night and what's he long up to with Tesla right. He is not one to look for short term profits. He'll gamble everything on a long term success. He's done it many times. You think he started PayPal with Peter deal. And he almost lost all that money putting it into Tesla. And you know with high risk is high reward. And boy you don't play for much bigger stakes than playing for the reward of being the richest person in the world. He's got SpaceX in there as well. So if he thinks the game is now there at a point that they've had incredible margins and guess what that's not the game anymore. The game is we're coming for everybody. We're going to crush margins. We're going to corner market share and listening to one analyst last night late on Bloomberg and they were saying hey if this is Tesla's game plan consider yourself in Ford or GM and it's already tough the amount of money they're putting into that segment. Now it's going to be tough that you're going to be competing with Tesla that's crushing their margins to gain market share. Maybe that will hinder you a bit from the investments you're making and maybe pull those investments back a little bit even in the short term. Right. They know they have to get there eventually. But if you have Tesla now undercutting prices like they didn't imagine only six months ago it may impact your investments in that which would even further. I mean that's the goal. Right. You come out as strong as you can. You crush your competition. You tell them there's no point of going in there. And I was looking at Tesla's yesterday folks. So that matters as in the prices have come to a point that you say to yourself geez this is getting silly man. I can get a model Y that's got a hatchback and some of these will I'm going to pull it up man because some of the speed you even the top end one that does like 0 to 60 and 3.8 seconds seconds with a max speed of 150 something 150 155 even those vehicles not that expensive compared to what you're paying for a lot of cars these days. But the model Y Elon Musk's bid to dominate global car making is taking a new turn and dividing opinion. Yeah. Is he Henry Forge Ford of the Model T or Steve Jobs and the iPhone. He's trying to bring it to everybody man in terms of the electric vehicles cut prices at least half a dozen times this year. Almost a third of the cost of the top selling model 29 percent cheaper in just three months. That's staggering. OK. And I reiterate it again because there is something going on here in pretty dramatic fashion at first all these cuts were coming. And I was saying this is happening everywhere. We in the stories OK. Car companies they just don't tell you how much they're charging you for the price of their vehicles because they like to haggle you once you get on the lot. This market's giving it up a little bit here huh. Yeah we just got a drop of almost 10 points right now as we come into the open with about six minutes to go. But they're not dropping their vehicles by 29 percent folks. OK. Because that would be showing up. So what to think of that. Well number one I'd be wearing Tesla. OK. Because you were just at 100. You're at 160. You were at 200 almost a year ago. OK. So this market has not found a bid yet with some extreme volatility in the process there. But we are coming into an area of potential resistance when you look at that chart right. That high that we turned around not a coincidence folks that the lows of last May are where you chopped around at in October. It's where you chopped around that in February. And I imagine that he is making a big play here for market share. And he's going to get it with twenty nine percent man. Twenty nine percent. You got a SUV that's under the average price of the new vehicle in the U.S. And people aren't going to deny that in terms of where you go. The stock is stored dramatically in recent years. Yeah. As they mentioned but here's the part. Ramping up production capacity. OK. Check out Shanghai. From where we were in 2020 to where we are in 2023. Check out Texas coming on the line in the beginning of 2022. All right. So they're ramping it up. And I imagine this is the play here in terms of ramp it up in pretty dramatic fashion to forego the margins we've been used to. That could really weigh on Tesla's valuation in the short term because you look at Tesla right now folks. All right. I mean we almost forget it. Remember the days where it was talked about. Test is a five hundred and ten billion dollar company. Important to remind yourself of this Ford. It won't even tell me. Let's calculate it. Come on. Come on. What's our Ford market cap. What are we at. Come on. Think we're some ketchup. Go to GM. They're going to give me a number here. GM. Forty five billion dollars. You can buy ten GM's for one Tesla. OK. You can tell me Ford yet. Why isn't it not giving me Ford for some some reason. You get the point with GM. Forty five billion dollars Tesla five hundred plus billion dollars. So be careful out there with Tesla shares because they are making a bid for everybody. And in the short term that's going to be tough on the equity. You even trade down to 80. Right. You trade down to 80 on this equity. Remember how many times it's split. OK. You trade down to 80. You're still a company valued five times GM. You say well geez that's that's bonkers. Yeah it is bonkers because Tesla's valuation could be considered bonkers. And if they're going for everybody and they're going to undercut price and they're not going to make margins be careful. All right folks this can be an interesting open. We got Google shares flat. We got Microsoft up almost twenty five bucks. Stay tuned. Coming back in three minutes. Building wealth trading in the stock market seems impossible to most people. They think it's too volatile and risky. Most people aren't going to take the time to educate themselves on how to do it right. But you're not most people are you. At TFNN you'll get the guidance you need to refine your strategies and techniques to invest like a pro. 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How do they react up seven point eight percent on their numbers to pull in Mexican grill up one hundred and forty five dollars up eight point one five percent for Chipotle Boeing with the news that they're going to be pushing out more seven thirty seven max they're up about four percent. We jump over to some of the other companies catching a tail when on some of these numbers Amazon charging higher maybe on some cloud there for Microsoft with AWS of course but Amazon giving back a lot of it. You're only up by two percent right now. What else Meta shares they were higher on some of the other news you're up by about one point six percent right now for Meta. We also get Snapchat with their numbers on Thursday Snapchat up one point three percent. You just gave up about ten pennies though on the open as that drops a bit on Snapchat. I think we get Intel as well on Thursday Intel catch a bit Intel jump over the earnings tab. Yes we do we get Intel with their numbers on Thursday as well. So we got Intel Amazon Snapchat numbers on Thursday Meta after the bell tonight all of them trading higher and Google shares right now marginally higher. It's going to be an interesting day man in dramatic fashion with all these companies not quite sure where they want to go. Right. As Google end up flat after spiking to one ten and boy those Google numbers they were strong we'll get into them a little bit later in the hour. Let's see how the dollars train right now they're talking about the dollar in the den rightfully so who watch out below man no wonder they're talking about the dollar. Wow that was quite a drop off man the dollar from one oh one thirty to one oh one on the ball we get the Nasdaq still sitting up 120 points. Yeah but we just dropped what 30 or 40 points. What's that bar. That's the bar that just began. Let's put it on one minute just to see how that open just traded right now. Yeah nine thirty we were up at twelve thousand nine fifty five we give up thirty quick points and let's see how because these these kept tech companies are going to define it man. So I keep checking in on them. Microsoft I imagine going to finish the day in pretty strong territory but Google I don't know there's some there's some weakness there to put it lightly as Google now down half a percent dropping at one oh four. See how Amazon's trading as they were higher Amazon. Now one point eight let's see how apples Apple off about four tenths percent right now Apple they'll be out with their numbers next week. OK. What else we have up here. Yes first republic this is the one we need to get to. OK. FRC talked about it yesterday right. And let's see. Yeah this is where I was doing the program yesterday first republic still at about twelve bucks still I came into the ten o'clock hour eleven seventy five. Not sure why it took until twelve thirty for the market to figure out that this may not exist as a business. They are a business that takes deposits and loans out money if nobody wants to give them money to deposit that they can use as a bank they're not going to exist as a business when I brought up yesterday. I think it was valued at two billion. Let's see if I was correct. Yeah it was valued at two billion dollars as a business yesterday. What is their business if no one's going to give them money. OK. So today down another fifteen percent and that's off the close of yesterday at eight. You're down to seven bucks from almost twelve when you came into that open. That's a five dollar haircut. What's that another forty percent. I would just take my money man. This company is worthless. Their name unfortunately is Tarnished Forever and it's not going away. And you're seeing a drag down everything now Pac West right. They had some big numbers yesterday but check it out. You just dropped what almost a full dollar from where it was on the open. Again I don't expect they'll give it up. Much different numbers. Much different in a big way in terms of Pac West are up by ten percent. You see the acceleration last night. First Republic they just lost all their money. They have a hundred billion dollars on hand. The market thought they were going to have a hundred and forty billion and of that hundred billion thirty billion is from the bank bailout. So they only really have 70 billion. And. Who are those seventy billion. And what are they doing keeping their money in that bank when you're just watching that stock accelerate. I imagine we're going to get news today or even tomorrow because a lot of people if you had money in that bank and you saw those numbers that was the last limit. And that's probably what's going on. And people probably know that the run has already began similar to how it was done in Silicon Valley Bank. And if you remember when the run began on Silicon Valley Bank the stock stock accelerated like this. And probably because people somehow know that there's tens of billions of dollars getting taken out of that bank and it's not going to be able to exist in two to three days. Now can they find a buyer I don't know I don't know if they can find a buyer man. This is where things get interesting. There's no guarantee that people get their money back in here. So we'll see we'll go from there. But first Republic continuing to drop right now we get the Nasdaq one hundred twelve thousand nine twenty right now. Google shares at about one oh four. Nothing too dramatic close yesterday about one oh four fifty for Google shares and Microsoft up about seven percent right now up nineteen dollars we jump over that Activision Blizzard. Yeah down 10 percent so it's obviously going to hurt Activision Blizzard I wonder how it's weighing on Microsoft right what is the contribution to this share. Does the market like that that they're not spending seventy plus billion dollars potentially I imagine they might. Yeah you can create a lot with seventy billion dollars in terms of gaming. But video games are fickle man. It's the one area of business it's not like movies where you can just create a movie and probably get a big enough star. Video games have cult followings and there's been plenty of stories. Of people trying to get into video games and spending. More money than they would like to admit and not having a success and that's probably why they were trying to do this deal. Now it's hard to argue it's not anti competitive when Microsoft makes the Xbox. Of course they eventually have a plan to use. Their control of a gaming company like Activision Blizzard for a competitive advantage for their Xbox. Of course they do. OK. Things are pretty simple. So not out of line. To think that that could be anti competitive for consumers. When I saw Buffett jump on the deal he was doing an arb deal right. He was buying Activision Blizzard saying hey I know this is a binary choice it either gets done or it doesn't. One of the things he said was that if it doesn't get done the company still got tremendous value. OK. That's why he was loading up in here but he saw the opportunity where the probability gets done was higher. And this is just the UK watchdog in terms of it's not a complete done deal. But the UK blocks the Microsoft Activision deal. The gaming deal would harm competition on the cloud as well. And yeah they're going to appeal that decision. Sixty nine billion dollar takeover is what it is. And yeah this is the beginning of the battle as they try and appeal it but probably not what they wanted as they come into it. They remain fully committed though is what they say there. So that's going to be an interesting one. See how it plays out. But any time you have smart money like that where Buffett's in there saying I think there's a probability that it could get done. We get the markets just hanging out. Pretty interesting. Forty one hundred right now we go back to the spy. Go a little bit shorter term to go back to that channel line on the spy. Yeah. And if you're looking for the bottom of that channel line you're looking at about one oh five fifty you got up to maybe four oh nine. That would be an area I'd be looking to short for today right now for the spy. And that would correlate in the S&Ps you're talking about a price level. About forty one seventeen maybe forty one twenty in the spy. And on the low side of that you're looking for thousand eighty four. Now. You jump over to a company like Metta. Up one point two percent. They're a different story than YouTube. And a different story of course the Microsoft right. The advertisers that run for Metta. A different story than maybe who's running for YouTube. As listen to a great analyst I can't remember his name on Bloomberg last night saying you know there's hesitation to for all television cable TV type spending to go over to YouTube. It's basically what it is. I would agree man. I watch it my households kids watching the households YouTube is like the new TV that's free. Metta different stories small business spending ad spending. We're going to talk some forex when we come back folks we're talking about Teddy cakes that don't go away we'll be right back. You might think that if you want to be successful at trading in the stock market you're going to need a crystal ball. After all it's impossible to predict the future right. Like any endeavor in life before you decide it's impossible get some advice from the experts. You might find that it's not so impossible after all for daily market overviews that give you direction on the key indices selective stocks and commodities subscribe to the opening call newsletter at TFNN dot com. 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It's ninety seven dollars a month folks you get a 30 day money back guarantee you can sign up for it while you listen to our man Teddy Kegs dad and you gain access to the archive of the webinar Teddy just did last Wednesday. And boy we got some currency action this morning to put it lightly Teddy Kegs that good morning. Good morning Tommy. Boy where do you want to kick things off man we're in some earnings season but boy dollar index. I was jumping around to some of the pairings getting ready to talk to you this morning and pretty interesting when you put them a little longer term just the divergences you've been talking about in terms of where those pairs are versus just the dollar index. Where do you want to kick things off this morning Teddy. Well we have to start with the Japanese yet tomorrow we have a rate decision and finally there's going to be a rate hike. So we had the new leadership at the B. O. J. and we've been waiting for we've been talking about this literally for half a year you know as they were transitioning and where they're going to finally do something because they haven't done anything for you know ever. So now is it a big deal not really I think the market's already got it priced in so I think that's one of the reasons why you are seeing a little bit of a bearish tone on the U. S. dollar Japanese yen today. One thing you have to really pay attention to the dollar index today is that you know it's the euro that's driving this the euros making new highs today and just recently broke out to the upside this morning. And this is this is something that I think is a head fake rally. You have to look at the other currencies as far as most of the bad that the major pairs that are not as strong as say the euro and the pound and what have you they're actually down you know so or flat. So that's something that you have to really you know pay attention to you know the British pound is something that also is you know right now they're not making new highs even though they're higher on the day we have a head and shoulders pattern forming. You know you also have the same thing with we have a rate decision coming up next week as well. We have a hike that we know is going to come most likely a quarter point. So and the bonds the rally in the 10 years are rallying right now also all the interest rates yields are pulling back. You know because the you know the consensus is that the Fed is going to be done after the meeting next week and I don't think that's going to happen. Yeah I was walking through the charts as you were talking about them pretty interesting moves you mentioned the euro pushing highs. I pull up the dollar index yesterday man we almost pushed one oh two on that acceleration we just got you basically just almost hit one oh one. But as you mentioned pretty interesting that we have higher price and bonds lower yield. I was looking at even the 10 year I know you love the 30 year as well but that trend. I mean there was no movement like we saw in the dollar index yes we had some volatility yesterday. But nothing like what we saw in the dollar index in terms of we it seems like yields just continuing to drop here. How do you make sense of that Teddy with the Fed because I agree with a lot of what you say and right now we're seeing those numbers continue. It looks like higher price lower yield like you mentioned as we come into a Fed hike probably a week from today. OK well that's actually something that I can I do have a theory on the market the market the market is always correct. You know I'm sure you would hear on certain other places that the market's getting it wrong right now. No the market's getting it right because the market pricing is coming because we have a banking crisis. You have all the central banks that are providing the liquidity and they're buying up these assets because remember they are. We don't get do overs in the regular business world. The banks are getting a do over. They made incredibly horribly stupid decisions buying treasury the treasuries literally a year ago. So now the Fed is buying them back at those prices meaning they get a complete do over. It's a reset. So if they're buying assets at a at a discount they have to unload them eventually. So right now that's why they have a coalition of all the central banks are pumping up our debt market right now because they have to dump them. And guess what yields pricing will have to go lower even if the Fed was to stop raise raising rates. We're at a price point that's it's out of but it's out of whack. Markets always correct. OK. So and that's something that I think we're seeing right now. If you look at the 30 or the 10 year you have head and shoulders patterns forming just like you have in the British pound the euro is breaking out to the upside. Next week we have our Fed meaning if we don't take out highs if the dollar doesn't get crushed and if yields don't keep on going down. Well they're going to snap back the other way which means we'll have a violent move to the downside and yields meaning going higher going into next week. Then what would that do for the dollar. That would be very bullish for the dollar versus currencies like for instance the pound you know the yen because their rate decision will be over. And guess what they're raising a quarter point tomorrow and then what are they going to do. Nothing. So so that means that in the course of less than a week we're going to negate their their hike just in our with our central bank alone. You know. So I think that's what you're seeing right now is this really tug of war going on. And the reality is I don't care if you're the Federal Reserve the B.O.J. the B.O.E. or whatever. No man no woman no one entity can control the market. And that's what they're trying to do. And the markets will always teach you that that ain't working. Yeah. I mean the banking deal is pretty intense man. First Republic those numbers that they put out in their earnings you don't have to be an accountant to understand that I don't understand how those numbers work going forward when everybody just wants their money back rightfully so. I mean who's who's choosing to do business with a bank like that. And that's just the tip of the banks. And like you said some of those decisions again you don't have to be a genius folks they locked in you know their businesses they take in deposits right and then they loan it out and make more money on the loan that they put out and what they're giving people for the deposit. They took all that money and locked it in long term at like one and a half percent ballparking but you know that's trouble for sure. What do you think about crude. We got lower price crude again at seventy six dollars down about a dollar right now on my on my chart for light sweet crude. What do you think of that action. We've got to fill that entire gap from the OPEC plus cut. You you got that you said the word right there the gap in the Tiger Forex report readers know that I was saying you know the old trader adages all gaps get filled. We've been talking about that you know since they broke out to the upside a couple of weeks ago and that's what they're doing. They're filling the gap. I think it's going to stabilize for a little bit overall on bullish crude. But I think yeah I think that the gap needs to be filled and then after that we'll see a little consolidation and then just get we're waiting for the next the news event if you will whatever I'm sure something will come out from OPEC or somewhere around the world about that and it'll cause a spike in oil again. I don't see us going into summertime with crude oil prices going down especially as demands going to be higher. Yeah especially when you know you got OPEC plus that is an active player to put it at least with some type of sand in the ground and line in the sand in terms of where they're comfortable with that price. Teddy real quick we've got about a minute left. Could you let everybody know because I was listening to that webinar you did last week as we could go today and you did just a tremendous job walking through the pairings and what you were looking at. Can you let people know when they sign up the archive what you talked about last week that they gain access to. Sure thank you about that by the way. Yeah we talked about the central banks and what's moving forward how they're interacting with each other and the outlook of how they're going to behave over the next three to six months. And also a lot of the divergence in the currencies you know we've been talking about this for six months and it's really becoming not just relevant on a daily basis like today where you can see it but just moving forward we have the whole world is splitting apart. We have we're on this side and you're on that side kind of thing happening and most people you know we look in the United States like you know there's King dollar and our markets are a real thing but there's markets all around the world and they're starting to take a lot of strength away from us. I just thought it was great how you went kind of market by market and broke down the influences on each currency pair. Check it out folks under the newsletter tab. Teddy thanks so much man we'll talk to you next week OK. Sounds good. OK stay tuned folks one more segment we'll be right back. TFNN has just launched their new trading room the Tiger's Den hosted at Discord. TFNN has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours and now they are expanding their reach with the Tiger's Den available to all Tigers and Tigris's for just $1 for the year. 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S&P is sitting right at that 4100 price point you're up by 110% right now. Dow up by 27 you get the Russell negative by 7 checking in on First Republic basically making at least in session lows down 21.7% and you know some of the numbers they talked about there were that somehow withdrawals had stabilized they were only losing 2% of what they had from March until April. This will change things though folks if you had money in First Republic don't listen to what they put out Monday because the world has changed at Monday you were trading at $17 and now it's 6 whoever has money in there is probably saying give me my money back I don't want to have to deal with your bank going and solve it and what that would entail. We check in on some of the companies with their numbers Google catching a little bit of a bid on the open you're up by a percent now to 105.69 Microsoft actually trades a little bit lower from where it was still up by about 7% fully mixing and grill power and higher 1990 is a new high I think it is I think it just got above the high it did. 1958 was the high OK that was 1998 yeah look at that man. You were just at 1920 had another 80 bucks on the open to Chipotle up 12.2% we check in on some of the other companies Amazon catches a bid up 3.5% probably on the Microsoft Azure the cloud computing AWS in terms of accelerating higher Amazon up 3.5% you jump over to Apple shares up a flat apple on those numbers and let's see how snap is trading who there's a drop for you snap down about 8.10% to 10.08 they were up at 10.40 advertising going to be maybe a problem is Mediterranean lower as well now I'm met a whole hunting gains quite a divergence right snap is all about advertising so if they're down 9.10% Google's upper percent but meta shares are up 3% nonetheless markets in positive territory thanks so much for tuning in to start your trading day folks stay tuned we got a man Basil Chapman he's coming up next Steve Rhodes did his program at 8 o'clock in the morning that's going to be playing at his time slot at 11 fast market at 12 we got Basil Chapman filling in for our man Larry Pezzavento live programming folks going to be an interesting day we got meta earnings after the bell tonight trading higher up 3% coming into those numbers as our man Basil says folks the day is young not even a half hour into the trading day Basil's up next have a great Wednesday