 The following is a presentation of TFNN, the morning markets kickoff with your host Tommy O'Brien. Good morning everybody I'm Tommy O'Brien coming to you live from TFNN just after 9am eastern time Wednesday morning we got about 24 minutes to go until the start of trading you have markets slightly in the positive reclaiming some of the losses yesterday you make it to a low in the S&P is a 4305 just prior to the close you catch a little bit of a lift in the final 20 or 30 minutes of trading and just like that we're positive by about 15 points but as our man Basil Chapman says the day is young opening bell 22 minutes away we have the Nasdaq 100 up a bit 14,756 you're positive by 40 points or about three tenths percent of the green the Dow up a similar three tenths percent just below 34,000 right now 33,983 you jump over to the Russell up by 10 points that's a solid six tenths percent the positive crude how about it man you talk about a low to a high yesterday of more than four dollars check out the acceleration from 88,19 up to 92,52 we're just off that high crude up and even two percent this morning go contract backing off 1906 is the number 1908 right now 1906 though you talk about man this dollar there you go right yesterday in the program we're talking about 106 this morning we're almost talking about 106 50 it's just not stopping right now in terms of dollar strength regardless of the fact that we catch a little bit of a lift in terms of the price of yields so what do you got right now we're talking about as I pull it up come on cooperate where's our yields there we go and one more the 10 years sitting right at 4.5 percent so what's interesting here is you get the 10 years sitting right where we were you know put this thing on a daily man we're right where we were in terms of going back to what yeah there's let's put it back on a 10 day yeah there's Wednesday Fed day and that was what I wanted to get to basically right where we were that evening so the tenure is sitting where we were last Wednesday evening okay meanwhile look at the dollar right dollar Wednesday evening was at 105 60 we are a full point higher in the dollar so the dollar may be recalibrating in terms of where we are in yields now it's so cool about today we're talking about dollars we're talking about yields we are going to be talking to our man teddy kegs that coming up at 40 past the hour you can always check out teddy's outstanding newsletter the forex the tiger forex report out every monday with new issues and updates when warranted but what we're going to talk about today when we talk to teddy is he's got a webinar coming up talking about calendar spreads 4 p.m eastern time today folks it's an hour-long webinar I can't wait for that webinar myself I've been talking about I love options man whether you trade options or not you should understand them because they give you so much information about how the market is pricing how equities are going to move implied volatility premium time value all that stuff and calendar spreads are one of the more advanced strategies that I am looking forward to an hour-long class with teddy on because it's just the nuances of rolling some of that strategy a little bit more complicated than a simple call spread or a put spread but if you're in the market at all you should understand them folks and teddy's going to be doing that at four o'clock so we'll talk to teddy at 40 past the hour today though we'll talk a little bit of dollar we'll talk a little bit of crude we'll talk a little bit of yields as we always do as this market catches a little bit of a bit up about 20 points at 43 33 we jump over to the vixx this morning a little bit of a reprieve but boy I was talking about on the program yesterday all things considered you back things up right I was talking about a five-year weekly saying hey there's the covid spike hopefully we never see an 85 vixx in our lifetimes again we probably will okay not sure why unfortunately but volatility rares its head occasionally 85 is something else though right uh the point being even in the year 2021 when the market was relentlessly higher look at these spikes in the vixx 37 32 29 25 25 28 35 market sells off we got similar spikes okay this year we're only at 18 folks yeah we're back up to where we were in august it is a different world the fed is not crushing markets with interest rates as they had interest rate hikes I should say as they had but they are still crushing the markets with some interest rates that might be higher for longer and strong dollar weighing on that number as well right dollar index highs of the year you're back to where we were almost a year ago check it out right november 7th you were backing down to about 107 we're at 106 right now 45 well off the highs of 115 but we will see where we go from there as we're just over a month out from the fed and we're coming into an earnings season that begins next month as well all right where do we kick things off while the headline from bloomberg global stock sell-off pauses as the vixx signals calm uh you know what we're gonna start it off with china though how about it man these chinese billionaires i mean i know you got allegiance to your country etc whether it's jack ma whether it's this gentleman can't pronounce that name who kyan potentially well he's a billionaire but what good is it being a billionaire if you're under house arrest by president she uh he is being monitored as a designated location adds to questions over the company's fate as restructuring falters i would put that uh that's putting it lightly as they say the billionaire chairman of the beleaguered property developer evergrand group china evergrand group placed under police control yeah taken away by chinese police earlier this month being monitored at a designated location uh it's not clear why he's under residential surveillance and that is a type of police action that quote unquote falls short of formal detention so he hasn't even been formally detained yet unable to leave the location meet or communicate with others without approval based on china's criminal procedural law not quite the same as our constitution thank god passports and identification cards must be handed to police but the process shouldn't exceed six months that's only six months right pretty remarkable how they operate man be careful uh just remarkable he reached that type of wealth and that somehow you don't jump ship but maybe you know easier said than done obviously um and you don't get to be at that level in china without being ingrained in politics and business okay but boy it's pretty surprising all these guys they rise up and then what happens china smacks them down man and they're especially gonna smack them down uh with what's going on in the real estate market there yeah i mean what was he up to was he up to like 40 billion dollars something like that it was a mammoth number when they were peeking out in 2017 um one of the most politically connected business men in china with ambitions ranging from electric cars to soccer and uh yeah now he's one of the most high-profile profiled casualties of president g and the crackdown on excessive leverage and speculation in the real estate sector um i'm not sure where this one ends for china man yeah look at this it was he was worth over 40 billion dollars i thought that was number 2017 he's now worth 1.8 billion evergrande has 327 billion dollars in liabilities yeah that'll get the government going man uh they're not in the business of having companies faltered to that degree because that creates a political headlight how headache for g over there 42 billion to 1.8 and now he's on lockdown yeah he was connected man doesn't matter how connected you are there's only one g over there stay tuned folks we're coming back talking to our man kevin hanks from fast market from the schwaab network we'll be right back if you're looking for potential trading setups in the stock market then rocket equities and options report is a newsletter you should try tom yo brian delivers options and equity trades when the markets present them using a combination of fundamentals and technicals sign up for rocket equities and options report today with a 30 day money back guarantee so you have nothing to risk for all the details and to start your subscription today visit the front page of tfnn.com tfnn educating investors everything in the universe is governed by the fibonacci sequence this mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market to stay on top of stock patterns you can take advantage of sign up for the fibonacci 24 seven newsletter at tfnn.com when you subscribe you'll get a weekly report from veteran day trader larry pesavento on stocks you need to pay attention to and you can trust larry's analysis after all he's got 45 years experience as a day trader larry will also provide daily charts videos and data on the key markets that he's tracking 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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 tfnn has launched 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 the tiger's den available to all tigers and tiger's for just one dollar for the year there's no catch or added costs when you join our community of traders sign up today and become a part of this educational community of traders just visit the front page of tfnn.com welcome back folks we're going to chart a cosco up here cosco off a bit on their earnings last night decent earnings but didn't quite live up to expectations you got cosco trading at about 10 bucks boy you take a look at this thing longer term though holding up relatively well all things considered you come into covet at about 370 spike up to 612 you're sitting at 550 for cosco and how about walmart right you talk about strength man this walmart chart quite the sell-off in the middle of 2022 man from 160 down to 117 you get it all back and then some with walmart pushing all-time highs at 160 to 50 and we're going to jump to a little bit of mortgages we were talking mortgages yesterday just in terms of comparing the interest rates you got man you talk about some numbers now but before we do folks you know what we're going to jump over all man kevin hanks from the Schwab network fast market every trading day folks right here 12 noon eastern time kevin hanks tom white the outstanding team at the Schwab network with the program fast market at every market day live here on tiger tv and let's just jump into it kevin hanks we got the 10 years sitting at about 4.5 percent we got dollar strength yet again and we got green on the board right now in the markets good morning kevin good morning tommy yeah uh stocks taking a little bit of a of relief from lower yields to start the day yesterday was a little bit concerning with the overall market tommy i think that you know investors are trying to figure out where do you go if bonds are going down as fast as stocks and the the answer seems to be at least for right now the dollar up until now now bonds are higher this morning as yield got over four and a half percent so we'll see what that does for stocks this morning but uh you know after a market that bought the dip on monday did not buy the dip on tuesday at least we're starting the day positive tommy yeah we had some tigers and tigers is in the tigers den looking for a potential uh short covering rally yesterday and maybe you got one in the last few minutes of the day but boy but beyond that it was 60 points almost straight down throughout the market day a little bit of a reprieve today we're sitting at 43 32 right now and you mentioned it kevin the dollar index taking a look at it you mentioned maybe that's a little bit of a haven interesting when i look at the tenure kevin right i go back to last wednesday night so following chairman powell all the way to kind of wednesday evening you had the dollar almost where we're at right now excuse me you had the tenure almost where we're at right now about 4.5 percent we had lower price higher yield and you have the dollar index a full point higher so even as yields have stayed where they kind of were as of wednesday that dollar just keep marching keeps marching higher i know we've seen that happen you've seen it happen what do you think of the impact on the markets kevin because it's tough sometimes on a higher dollar it's been quite a run we've had and the markets have seen that you know impacted but is that something that you're watching if the dollar continues higher how do you think that's going to play into maybe equities is that going to be a headache for equities if we keep getting that dollar strength in the market right now well we always watch the u.s. dollar here because it affects so many things that affects u.s. multinational that affects commodities that affects you you've seen it the fact on gold there's a you know and conversely look at the euro the weakness in the euro down from you know 113 not very long all the way down to 1.05 now so wow that euro dollar relationship is really gone made a dramatic move here and like i said it looks like the dollar is being used as a risk off asset when you can't trust bonds to as a risk off asset anymore so yeah there's a lot going on here tommy with that relationship but the dollar affects everything right you'll always should be watching the u.s. dollar tommy and yeah you know the the data this morning didn't really scare anybody now the durable goods number was relatively calm after a couple months of volatility there crude oil is its own massive microeconomic issue now up over two two and a quarter percent today why cushing Oklahoma for your debts and your listeners county cushing Oklahoma that the inventories there are now below 22 million barrels tommy from a capacity of 98 million barrels so uh crude oil frankly in my opinion if those say like that it is a hundred dollars written all over it tommy yeah pretty interesting man i had crude up on the think of some platform as you were talking about it boy it's been quite a year for crude man from 67 dollars and change right around that number pushing uh highs right now at 92 40 the price of crude i want to jump on mortgage rates real quick kevin mortgage demand out there this morning and the interest rate how about it you're talking about 7.41 percent on a mortgage rate the home builders have held up relatively well um what do you think about that type of mortgage rate man when we all know yields are reverberating in terms of what your signature is worth excuse me but we're at some pretty lofty yields right now in 7.4 for a 30 year what's your take on that man yeah that that's going to definitely affect refinances right of markets as so many people have rates so much lower than this but new home sales they've remained pretty strong even with higher rates now i do expect when rates spike like this that you get a pause right but people get uncomfortable tommy as you know and then they get less uncomfortable and so i expect when a pause or a queue forming when rates go higher and then when they settle down or go lower but that queue of of of mortgage participants comes rushing back into the market tommy so the fundamentals that housing are still very positive we're still very behind in terms of housing inventory existing homes that's a different story right because so many people have lower rates but new homes still a lot of demand out there tommy yeah i've talked about it and i appreciate the take man because uh it's interesting out here near lakeland florida kevin we got a development i've talked about i think it's 1700 houses going up next to us used to be a beautiful cow pasture and uh they just keep selling them i don't know how they're doing it but they just keep selling them they build them people are in there they're moving in they're building the next one right next to it and they're selling them and um and i think it's linar dh horton in there um as well dr horton um in there as well um so it's remarkable but yeah 7.4 and interesting how context matters in terms of if you said six percent mortgage to somebody a year and a half ago they'd say you're crazy i'd never take a six percent mortgage you say six percent mortgage right now man we ever get rates back down to six percent you're right that might be a cue waiting because right now we're pushing seven point four with that in mind kevin we march forward do you guys have any equities coming up that you'll be talking about on fast market today at 12 sure we're we're going to talk about uh micron that has earnings coming out after the bell today we'll look at tarmac that has earnings coming out as we're getting very late in early season as you know and then we'll look at net uh in the final segment so three good names today two of them with earnings tommy i like it man kevin i appreciate the time as always man on a busy morning this time leading up to the opening bell i know it's valuable time man i appreciate it i know the listeners do as well we look forward to the program at 12 o'clock and we'll talk to you tomorrow man have a great day tommy you too folks stay tuned we'll be coming back for the opening bell we get the s and p's up by 16 right now we got the nasdaq up by about 45 we get the dow up by 113 russell up by 11 stay tuned folks i'll be coming back in three minutes for that opening bell don't go away adding stock options to your portfolio can be a major game changer but the full complexities of these instruments can oftentimes allude even the most experienced traders whether your season trader looking to sharpen your knowledge on options or you're completely new to the market teddy kextat is here to help on wednesday september 27th from 4 p.m to 5 p.m eastern time teddy is hosting a live stream that will teach you how to capitalize on time with calendar stock options spreads teddy will also go over how to trade stocks and other market movements without large capital allocation how to expand portfolio diversification how to maximize potential returns basic entry and exit techniques and more if that wasn't enough of a reason to attend teddy will also be answering all questions live if you're serious about making money in this market head over to the front page of tfnn.com today to sign up for teddy's live stream tfnn educating investors currencies commodities and bond markets are as important as ever right now with how they're driving the volatility in equity markets across the globe which is why it's a great time to try out teddy kextat's tiger forex report teddy kextat breaks down the forex markets every monday using his 30 plus years of experience as a trading veteran of futures forex stocks and options teddy releases his weekly tiger forex report every monday morning with coverage of all the major currency pairs including the dollar index the euro dollar pound dollar dollar swiss dollar yen as well as many more and he also has weekly coverage of the crude oil market and the 30-year t-bonds as they both influence forex markets tremendously when you sign up for the tiger forex report you also gain instant access to teddy's 60-minute webinar archive he just hosted forex strategies and fundamentals what is behind the tiger forex report for all the details and to start your 30-day tiger forex report subscription today visit the front page of tfnn.com tfnn educating investors sharpening your skills as an investor is like getting better at playing a musical instrument you have to practice sure but you also need excellent instruction from experts at tfnn you'll get advice and guidance from the authority and technical market analysis and it's not just dry tedious text either tfnn airs live financial content streamed live on tfnn.com and tfnn's youtube channel with tiger tv live every market day from 8 30 a.m to 4 p.m eastern for free each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world from the moment the market opens until the closing bell sounds tiger tv has eight different shows with expert hosts to help you make the right moves with your money watch online at tfnn.com or on tfnn's youtube channel and become the investor you were born to be tfnn educating investors if you're looking for potential trading setups in the stock market then rocket equities and options report is a newsletter you should try tom yo brian delivers options and equity trades when the markets present them using a combination of fundamentals and technicals sign up for rocket equities and options report today with a 30-day money back guarantee so you have nothing to risk for all the details and to start your subscription today visit the front page of tfnn.com tfnn educating investors everything in the universe is governed by the fibonacci sequence this mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market to stay on top of stock patterns you can take advantage of sign up for the fibonacci 24 7 newsletter at tfnn.com when you subscribe you'll get a weekly report from veteran day trader larry pesavento on stocks you need to pay attention to and you can trust larry's analysis after all he's got 45 years experience as a day trader larry will also provide daily charts videos and data on the key markets that he's tracking expect notifications from larry on market movement you need to act on at any time first time subscribers also get a 30-day money back guarantee if you're not satisfied let us know and you'll get a full refund within 30 days of signing up subscribe to the fibonacci 24 7 newsletter today tfnn.com educating investors don't forget you can listen to tfnn live on your mobile device 24 hours per day go to tfnn.com then hit watch tiger tv that's tfnn.com then hit watch tiger tv hi folks is grandpa gonna be here that's who he's asking we got a treat we got the fourth you can say hi to everybody you say hi to the camera you say hi here he comes hi everybody you said hi i get your mic right there say hi that's hi hi ready here you're gonna be right here look at where are you there you are mr hi there you are you see it say hi so tom he's become a pringles man you tell him you're eating your pringles i'm telling me my eating your pringles aren't they delicious tommy they're delicious i know uh so he's out there running around i got tommy today so he wanted to do we have sound yeah yes okay just making sure he's running around today and you know what he wanted to be on the program and how can i deprive how can i deprive you so we're in the studio he's working he loves working and he became a pringles man on our adventure through the airport of mayarka and zirak tell them were we in zirak so we were going for some airport snacks folks airport snacks huh airport snacks yeah airport snacks huh i talk to you yeah talking to microphone they can all hear you okay what else do we have would we at airports next we're eating french fries and and chicken chicken and enter yours that's my microphone i know tommy went on a microphone too and i didn't have it ready for him just yet uh he wasn't planning to come on today but he really wanted to so he's still in pajamas a tighter what do you got you got triceratops you show them oh triceratops what does triceratops sound like tell them what's he sound like oh that's a good one you're showing them the more oh that's a good one yeah uh so we got markets open folks what's what do we got do we got green look at all the green you showed a green tell them green on the board green on the board folks and uh yeah so grandpa's a pringles man and listen tommy's a pringles man man tell them you like all the pringles you like the red ones you like the green ones any orange ones yeah you like all of them i know huh he's pretty healthy all things considered um what's that one doing there you see daddy's keyboard i know i see it i see it i see a keyboard in there yeah look and there you are right there everyone can see your triceratops uh uh yeah you want to see my feet down here you want to see your feet too there they are show me your feet there they are you show me your feet tell you folks kids they give you a new perspective on everything man we got more pringles we got more pringles it's a beautiful thing huh as my dad would say it's a beautiful thing we got more pringles life life is great more pringles life is good man so we're gonna hang out we are talking our man teddy keg's dad coming up after the break we'll talk to say there's those feet there's those feet see there they are uh but let's jump around and see how we're doing to kick things off man on a five minute basis markets shop around somewhat near the lows of this morning we're sitting at 43 28 yeah tell them what do you think should we take a look at disney tony let's take a look at disney since we're doing a little bit of toddler live market analysis what's that my Alice and I have analysis huh she's like grandpa just like grandpa that's right this is what grandpa does when he does his show isn't it does he do his analysis she break down the stock shirt oh she just me take a little bite hmm oh is that good yeah that was a big bite that was a big bite okay we got more pringles let's eat that one first okay well we'll get you a drink after that so markets fading a bit we got the s&p's up by 10 nasdaq only up by about 36 right now we go back to a 10 minute chart a little bit of a sell-off as we come into the opening bell you see it what are we doing what are we doing should we check out netflix as well because we're fans of netflix yeah we'll check out netflix as well tell them what do you like do you like netflix or do you like disney or do you like youtube what's your favorite youtube youtube i tell you folks we found them i haven't had them on the program in a while it's been too long but there's nothing like good old youtube man we're streaming our program on tf and end right now on youtube everybody loves youtube and how well has this thing held up right you're pushing highs one you want another pringle okay there you go i know huh tom he's a hungry man he's uh he's recently stopped drinking bottles which uh just were occasionally maybe at night or something like that and kids they'll persist to sometimes not a big deal but boy ever since that stopped um he is a hungry man we had pool day at grandpa's on sunday were we at grandpa's did we go to the pool we were at grandpa's were you swimming swimming swimming with grandpa oh i know huh was that fun i know he's a little fish uh swimming with grandpa but yeah there's nothing like it man in terms of just the ever persisting theme in this household and many that youtube i mean i almost talk about sometimes that youtube is like the new um basically basic television it's free it's ad sponsored everybody can get it it's basically the main networks prime time in terms of talking about abc nbc cbs right set top you can get them free if you want any time they're sponsored by advertising and youtube has basically commandeered that entire area now brief segue though okay what we've started watching hold on i'm gonna tell them about roku tell me yeah have we been watching Jurassic world we're watching the drag oh what kind of dinosaurs do they have in Jurassic world what kind they have t-rex oh flesesaurus what about dominus rex t-rex they have t-rex so we've been watching some of the roku channel which is actually ad supported free as well yeah but we're kind of talking to our man teddy keg stat and we're talking options when we come back folks while 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.com the opening call newsletter is written by basal chapman creator of the trading methodology known as the chapman wave the chapman wave up down sequence gives you an edge in identifying price turns finding the peaks and valleys and stock prices get the opening call newsletter by basal chapman in your inbox every day first time subscribers also get a 30 day money back guarantee if you're not satisfied let us know and you'll get a full refund within 30 days of signing up tfnn.com educating investors will the s and p 500 continue to climb for bold trades on us large cap stocks in either direction trade spx l sp u u or sp x s directions daily s and p 500 bull and bear leveraged ETFs direction leveraged ETFs an investor should carefully consider a fund's investment objective risks charges and expenses before investing a fund's prospectus and summary prospectus contain this and other information about direction shares to obtain a fund's prospectus and summary prospectus call 8664767523 or visit direction investments.com a fund's prospectus and summary prospectus should be read carefully before investing an investment in the funds is subject to risk including the possible loss of principle the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor four side fund services llc adding stock options to your portfolio can be a major game changer but the full complexities of these instruments can oftentimes allude to even the most experienced traders whether you're a seasoned trader looking to sharpen your knowledge on options or you're completely new to the market teddy kextat is here to help on wednesday september 27th from 4 p.m to 5 p.m eastern time teddy is hosting a live stream that will teach you how to capitalize on time with calendar stock option spreads teddy will also go over how to trade stocks and other market movements without large capital allocation how to expand portfolio diversification how to maximize potential returns basic entry and exit techniques and more if that wasn't enough of a reason to attend teddy will also be answering all questions live if you're serious about making money in this market head over to the front page of tfnn.com today to sign up for teddy's live stream tfnn educating investors this program is brought to you by vista gold traded on the nyse american and tsx under the symbol vgz we got the dollar index rocking higher right now great day to talk to our man teddy kextat market we're gonna talk to teddy folks let's jump over to our man teddy kextat you can check out teddy's tiger forex report every monday and today we got a webinar and teddy it's going to be an adventure man because we got tommy the fourth joining us i know hi tommy hi little t did you see the fireworks i know did you say hi to teddy say hi teddy there you go hi tommy uh so teddy we're gonna kick it off man you got a great webinar coming up tonight tommy what are we gonna say are they gonna have to sign up say go sign up for the webinar i know we gotta do it that's right you tell them folks uh tommy uh so teddy let's kick it off man you have the webinar coming up tonight capitalizing on time with calendar stock option spreads if you could give the viewers a brief preview of what you'll be talking about tonight man well we're going to be talking about that particular strategy strategy which is uh calendar spreads so a calendar spreads can be used in equities you can use it on etfs on stock indexes as well you know so it's something that's a very versatile option strategy it's also very simple to implement um it's not something that you have to be a very experienced option trader to use or understand how to uh put on so it's very definable as far as your risk also very definable as far as your uh potential uh profits as well you know and it's a way of also trading the market where um direction is important but it's not necessarily the whole thing that you have to worry about unless it goes really extreme against you i mean obviously markets will go in the directions that they will so but uh calendar spreads is a really good way of taking use of time you know like there's all kinds of ways of trading options and people get really scared when you start to mention the greeks you know so time is a factor of option pricing and calendar spreads take advantage of that uh particular variable so when you're using calendar spreads you're trading closer month options and also uh further out options so you have two legs to the spread and the main focus is on time more than direction so it's a very interesting easy strategy to implement and it will show how you figure out the setups where you use the broad market to give you an idea of direction and as far as what side you want to be on and then how you when to take the trade whether it's a good option trade to put on or what sometimes you know just because you have a strategy doesn't mean you put it on so we'll be going over highlighting that as far as how you enter lay out your risk and also your objectives and when you enter those teddy is that something and i know you're going to dive into it for an hour tonight so you don't have to give it all the way right now but is that and i know it's two different time frames is it something that you you can can you sell the closer leg and buy the longer leg and do it vice versa or is it usually one way or the other because i know you roll the shorter term option as well occasionally right so does that go both ways or is that one way or the other well you're always short the front month and along the further months because that's what you're trying to make money off of time decay so obviously both options will decay but the further out month decays at a shorter rate so that's where your money is based off of time if the direction like if the market if the market's flat this is a flat two direction trade if it stays flat you're making money on time if it goes your direction then you're making time plus direction okay so there's two factors involved with that obviously if it goes the wrong way then you're losing on both then times the only times the only thing you'll make when it when the market goes the opposite way so it also pads your loss so because you already when you enter the trade you know what your defined risk is the worst thing that can happen is you actually pull back a little bit of money if it goes the opposite way and you actually get some of your money back so you lose less than when you enter the trade you know so and as far as rolling them that's for instance like one of the situations you use is like a head and shoulder or when you have like an a wave pattern where you're trying to trade the two and the four wave where you're going to trade back into the trend that's where you would roll because if all of a sudden you're starting to catch that move you know because the shorter month expiration month as you come into that and that expires then you would flip the the other one so then you would all sell out the the one that you were long to go short and you'd buy out a further month to keep the trade on if you were trading that trend or that or that chart pattern like for instance like a head and shoulders pattern where you're looking for a big market correction or a big you know rally or something like that I appreciate it man I know you're going to have a lot to talk about and um yeah it's always interesting myself in terms of how things can change in that spread you're going to be talking about because I love you know it's very simple for me to understand you know a call spread or a credit call spread a debit call spread but what I look forward to tonight so much is just how things can actually change because you have a shorter term duration you have a longer term duration and then you can manage that sometimes throughout that month correct I look forward to it I know we got some people signed up so it should be a good crowd out there folks four o'clock tonight check out Teddy's webinar right on the front page of TFN and Tommy should they go sign up for the webinar tell them go sign up for the webinar that's right thanks Tommy all right let's jump into uh some of the market action man what do you think about this dollar index well you know what I think right now what you have going on is market cycle 101 going on and one of the things the currencies are great for is they confirm when yields are driving the markets you know and if you picture equities gold and interest rates those are the three major markets that control everything ultimately but if you picture them and going like an assign way they're going up they're going down and this is how they go all the time okay but they don't go in tandem and typically gold leads the stock market and yields lead the other ones now when gold is going down and equities start to go down that means yields are going up it's always how that relationship goes in the in the trend basis and vice versa if you're going down in yields and then up in the up in gold and up in equities so that's where we're at in the market cycle right now and it's showing that I mean the dollar made a multi-year a multi-month high it's the high of the year right now is where we're on actually you know the dollar has been going up now for what is it seven eight nine weeks straight without having even remotely a only slightly higher week you know so there's a lot of strength and that's because of the yields you know we've been talking about this for months that yields were the market yields were trading at a discount you know so I mean they needed to be higher I mean we're now finally the treasury bonds and the tenure notes are trading where they were a year ago when we had it before we had a bunch of hikes and we know that there's still a half upwards of a half a point in the market consensus coming up over the next few meetings you know going ending going into the end of the year in the first quarter of next year so right now yields are on that tier they're trying to find their equilibrium to they're coming to fair value is what it is once they hit that fair value point that's when we should see a correction you know so I'd be very careful like today the bonds in the tenure are up a little bit so yields are coming back that's a profit-taking move I'd be very cautious the trend right now is still a bear for bonds it's a bear for golds and it's a bear for um for equities you know so this also means it's a bull for the dollar you know and as a whole the dollar is crushing what the euro the pound the swiss actually is making incredible highs and also we have the yen but then when you look at the australian the new zealand dollar now they're so beaten up and they're in a range trade you know and then the us dollar canada ironically where we're having such strength in the dollar it's faltering it's it's coming off of a swing low but it's having a really hard time rally you know so I think we're going to get into that digestion phase but I'd be very cautious over the next couple of sessions because we're we I don't think we've found quite the bottom and you know the bonds are high in yields yet and that's going to drive gold lower s and p's lower at least in the short run I think yeah just the move when I was talking to you man the tenure even since I came on the air at nine o'clock um we just traded down six seven basis points so chopping around a bit but boy those moves pretty quick well I appreciate it man I look forward to the webinar tonight folks right on the front page of tfnn I got it right up here capitalizing on time with calendar stock option spreads with teddy you just heard a brief part of the conversation man we got plenty to talk about I look forward to it tonight teddy myself look forward to quite an education all right we're gonna say goodbye to teddy say see you tonight awesome man teddy we'll see you at four o'clock man thanks Tommy take care thanks check it out the front page folks we'll be right back to finish up the program the gold report as a precious metal gold is still king it continues to hold the most effective safe haven and hedging properties across the global major trading hubs of the london otc market the us futures market and the shanghai gold exchange the gold report tom o'brien publishes his weekly gold report 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you in the tiger's den we got to get you in the den it only takes a few minutes but if you all sign up right at four o'clock it'll be a few minutes to get you in there so sign up now we'll get you in the room you'll be ready to go right at four o'clock and it will be archived if you cannot attend live and tom he's a pringles man we're keeping him happy he's a happy camper are they wait are they going to go sign up tell him to sign up for teddy's webinar that's right sam tell time to sign up for today's webinar tonight that's right tommy uh jumping around a bit this is Jurassic worlds uh from 2015 that is where the endominus rex appeared for the first time that is a created dinosaur not an actual dinosaur created dinosaur a lab dinosaur that was created as part of the Jurassic world experience there's the endominus rex if you're looking at it who's gonna get him tommy oh it's the mosasaurus oh he's got him now i bring this up folks okay because we're talking about youtube and i found our households okay watches this movie in particular on the roku channel i subscribe to everything okay we got uh corded cable okay we're still on the they got him tommy and there's the t rex we got everything and meanwhile i look this up and where do we watch this we watch it on the roku channel it's completely free they serve us ads which nobody appreciates but i found my assistant how remarkable right of all the things i pay for netflix hbo uh prime it just keeps going what are we watching we're watching the roku channel and we're paying roku for ads so i'm gonna start looking at roku again as we're watching more of it uh this just one example of the programs we're watching folks thanks so much for tuning in we got markets positive by 10 tommy are we gonna say goodbye to everybody we're signing off there we go ready say bye everybody say bye you see you're in the tv say bye we're on the show bye it's the end hey everybody it's the end bye check out