 The following is a presentation of TFNN The morning market kickoff With your host Tommy O'Brien Good Monday morning everybody and boy you come on the air and there's no words folks I really can't get ready for this one. My dad talked about it Friday, but if you didn't check out the program Friday There's no words man. The saddest news that our man Dave White passed away last week You know it kind of really hit me when I found out Friday man It's been hit me all weekend and I know it's hitting all of us and you can't kick off the show in regular fashion Man, it's just been on my mind Dave's been a fixture at TFNN and all of our lives for I got to find the date man I think like 15 plus years every single day and unfortunately he did his show last Wednesday folks and And When ended up happening was so my dad we found this out and I'm trying to like go through it, right? But you got to take a moment man because our man Dave gonna miss him tremendously I know everybody in the Tigers then is gonna miss him tremendously a lot of great posts over the weekend just talking about Dave The man he was the the Educator trader the genius that he is was and say is right. It's like it's still just amazing Just hit you and so unfortunately what happened was is that Thursday morning? Jacob usually publishes his newsletter Dave sends it over to us We publish it up for the website for his subscribers to the path of least resistance and Jacob hadn't heard from Dave by the market open and So shortly after my program I talked to Jacob He let me know he hadn't talked to Dave and right away folks. I knew that I was very worried on Thursday because Dave is meticulous man and You know in the best way I say this sometimes He would drive us crazy because he wanted his newsletter out ASAP because he cared about his subscribers so much folks that he wanted that information out To you as fast as possible and I knew right away that there was no way because he cared about his subscribers so much that he wouldn't reach out to us and not do his newsletter unless something was probably wrong and Unfortunately, it was a worst-case scenario That it went to and so what ended up happening was is that we couldn't get a hold of him Thursday He didn't do his show which even made things more worrisome. It's never happened to 15 years folks So you know I saying you know I was so worried for him because I knew that this was something that hadn't happened in almost two decades Next morning rolls around Friday. We didn't hear from I said, you know, we got we did a wellness check sent the cops over there His apartment was empty And there was a note on the door that somebody had been walking his dogs So the cop who had went there and he went there pretty quick from the wellness call They were there within about a half hour. The cop called me Dave had lived in Largo so not far from many of us I mean we have hosts all over the country, but Dave just not far from our office I called and the cops said, you know, somebody's leaving a note on door that they're walking the dogs So somebody is aware that he's not at home and he said the blinds are open. It looks like nobody's there And so at that and the cop was very helpful But there was only so much they could do at that point with us not being his next of kin as well Because then it gets into a deal where even when you call around to hospitals folks If you're not the next of kin, they really can't tell you and that's what the cop told me said listen I could go to the hospitals, right? I could be start doing this But even if I find anything out, I'm not gonna be able to tell you anything Unfortunately, so I started calling some hospitals myself anyway, but I sent Jacob over to his home To try and number one maybe leave a note from us So whoever was leaving that note walk in the dogs might be able to call us and let us know maybe where Dave was and Jacob knocked on a couple doors and he found a gentleman that just happened to be outside of his apartment and that gentleman Let us know that yeah, unfortunately There was something that happened Wednesday night that had a medical issue where Dave did have to go to the hospital Very worrisome, of course where some of our worst fears are getting confirmed. So that was middle of the day Friday we put a Note on the door Jacob put a note on the door and a neighbor of theirs his called me at about 3 30 p.m. Eastern Time Friday and Unfortunately, let me know that Dave passed away. And so what happened was is he is he had a heart attack Wednesday Just shocking man as I go through this and and it's like man. I was trying to prepare for this all weekend, you know and and Dave's a friend. He's a co-worker and you don't realize sometimes man when somebody is gone How it's gonna hit you and and what they meant to you right and Dave was a great guy man He's even saying it does a disservice of how great of a guy He was in terms of his time what he did for people the stories over the den over the weekend Just hearing how he would spend hours with some people never talked about it, right was in there all the time I'm not certain of his age, maybe my dad might have it and we'll have it and we'll get more information folks And as we get I believe it was around 58 years old. Yeah 58. Okay, and so over the weekend my dad received an email from one of Dave's nieces who is his next of kin and So he was able to get a little bit more information and it's a tough one folks because what ended up happening was is that Dave? Did his show live from 2 till 3 p.m. Eastern time And we have a post up on the front page of TFNN if you want to check it out Just a beautiful picture man of Dave the smile he had man the eyes he had right There was a great Interaction on Wednesday on Dave's show with a caller I believe Steve from Austin It was just great man the smile on his face and so that that picture is from Wednesday I mean that picture is from Wednesday between 2 and 3 p.m. Eastern time So what happens he gets off the air and this is in my dad will be doing a show today And I'm sure he'll talk about it as well And here's the bummer of it as if it's not a bummer But it's even worse than you can imagine folks because Dave felt like something was wrong with him And he actually went to the hospital Wednesday night and I don't know which one he went to yet He went to the hospital Wednesday night because he was worried about how he's feeling and they actually sent him home Man, it's so tragic to even tell you man It's like heartbreaking a million times over right and they sent him home And he had a heart attack literally as he was putting his key in his door to get back into his house Man, it's like I'm breaking up. He been talking about it's like how is that fair man? Whoo, man So unfortunately he had a heart attack and he passed away in the early hours of Thursday Yeah, so You know, we're gonna go on today man, we'll be thinking about them all day today We'll be thinking about it for a long time man. It's it's it's it's a it's a loss. He was a genius He just understood so much of the markets and you know options Max Payne, you know the volume analysis He helped my dad with the art of taming the trade charts built that program out completely Then yeah, you know, it's like as my dad said in this program Friday, man It's like yesterday's gone tomorrow's not here. What are you doing right now, man? Because you know, everybody It's so easy folks to worry about tomorrow You don't have to because what's the point because you don't even know if tomorrow's gonna come man So live for today and boy, you know The story about going to the hospital and then send them home It is a tough one folks and that is freaking tragic beyond belief Because you don't know what would have happened, right? But boy if he's at the hospital He's obviously got a much better chance and and it's just damn man exactly just total BS that they did that You know what's going on, but he felt it he knew it something was going on and they sent him home man And he had a heart attack and unfortunately he's gone So we're gonna try and carry on today folks. I appreciate all the kind notes and all that stuff man boy Oh, it is a tough one. We love our man Dave White. We're gonna miss him tremendously folks We'll come back. We'll talk a little markets. We'll be 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 Tommy O'Brien 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 comm 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 Pezzavento 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 Steve Rhodes started his trading career as a student almost 20 years ago 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 it 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 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 tigers is 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 and boy just dealing with it right sell when you can not what you have to what a great saying man It's so true. Oh man, Dave. Why so true sell when you can not when you have to folks I was thinking about that all weekend Um, it's a tough one man. I couldn't even pull together really those You know read all the kind words and the den man. They just hit me because they're so true Man, he's such a kind guy, you know, everything he did and that smile on his face, man Was just awesome. Um, and the interaction he had with the caller on Wednesday was just awesome And yeah, such a bummer going to the hospital man. So, you know Not that you can learn anything or whatever man, but boy, you know, you feel something's wrong with you, man You're at the hospital Don't let anybody tell you Something you don't want to hear and Dave he I'm sure he freaking told him man Because he had no problem telling people what was on his mind. I say that in a great way And it's just such a bummer man Back to the markets and you talk about a weekend, man How about it, right? Uh It's another day another insert bank name insert tried to do everything we could uh bank bailout does not reassure Markets we're gonna see how it plays out, man. But boy things started uh accelerating pretty quickly yesterday UBS first it was a billion dollars credit swiss was pushing back on that one Then it was two billion dollars. They were talking about now they're buying them for 3.3 billion dollars But on the hook there You got something like 9 billion dollars that the swiss government is going to call Yeah, uh, UBS while the government is granting a 9 billion franc guarantee for potential losses Okay, uh What it boils down to is this company is basically worth negative 6 billion dollars because they're buying the company for 3 billion But you got the swiss government guarantee and 9 billion dollars of the losses Quite a weekend how quickly things go and things haven't even happened yet, man As we take a look at what's going to happen overall and one of the biggest stories out there might be this story, man In terms of the bonds getting wiped out credit swiss is 17 billion dollars of risky bonds are now worthless So UBS to be uh agreed to buy Credit swiss right the government's support is going to trigger a complete write down of the uh, at one tier bonds which they had 16 billion swiss ranks or 17.3 billion dollars worth of risky notes And Where's the chart? I got this up on a couple occasions. Which one is it? Because you got to see the chart, man Is this it? Oh, come on Here here it is uh This is dutch banks 81 bonds, okay Yeah, you better believe that the market is about to wake up to the fact that 250 billion dollars worth of bonds that this market holds They might be worthless folks because they just got wiped out and they got wiped out ahead of Some equity holders. So where you are in the debt? Structure is pretty tough when you think about equity holders. Not sure how this one's going to shake out, but it's a big one Um, what's shocking is that it looks like equity holders will receive a better than tier one bond holders Not usually how it how it happens, but it is in that prospectus out there The resulting losses will likely prompt individual and institutional investors to sell similar securities at other european banks Not sure the yield is what you're looking for, man Yeah, demand was hot enough in august of 2020 that when credit swiss launched a 1.5 billion dollar 81 deal With a 5.625 interest rate It received more orders than it had bonds and barring the rate down to 5 and a quarter percent Things changed quickly, man. I mean the price on these i'll try and find the chart on these At the beginning of the year these were trading at basically 100 par And i'm talking about for credit swiss now Yeah, yeah, and these uh 81 bonds. Let me see if i can find Because they are a creation of the financial crisis from 2008 That's when they kind of came about See if I can find if it's in this one or not So that's going to reverberate and it's going to take some time because you are seeing Some huge selling I imagine because I ain't holding those bonds, man You holding those bonds are you holding debt that's going to get wiped out ahead of equity holders? That might be the biggest one here because what's so crazy about this right is that if they were able to facilitate a UBS buyout of credit swiss They lose no Value those eight you might get full value and honor But because the government had to come in for a bailout they get wiped out completely and you know what hey That that's that's the deal man when you're when you're putting debt up for a company That's worth technically negative billions of dollars, right? I mean imagine this company was worth what seven or eight billion dollars as the close of friday They couldn't even sell the company for a couple billion dollars over the weekend They had to guarantee nine billion dollars in losses for somebody to buy it for three billion Meanwhile, it was supposedly worth seven billion on friday This isn't stopping folks There is no reason no matter how much somebody tells you that your money's safe And you have money in a bank that might go bk and you're you're over the insured limit Why would you ever do that? I read a story over the weekend Uh The basketball star giannis and I can never pronounce his name onto Kanupu no, it's all blew that one. Um, giannis will call him right MVP a basketball star. I'll find this one too. This guy had 50 bank accounts so that guess what? He was never over the insured limit brilliant Why would you ever trust a private business with over 250 grand that's not insured unless you're sure it's going to be fine Why not just spread that money around? Well, you know, it's not always as easy when you're doing business as a as a company like roku But man putting 500 million dollars with the private company that's about to go bk Yeah, we all know how that plays out in pretty dramatic fashion. Um Then we're gonna see how it's played out. I haven't even jumped around to the charts yet, right? Let's take a look at the charts, man. We kicked things off. It was quite an open last night in europe You check out the action We were actually below 3,900 for a brief moment Boom just like that you get back almost 70 points from where we were you hit a low at 4 a.m 38 97 we just traded up to a high of 39 65 almost 70 points And right back to where the market opened we traded down almost 90 points from 10 30 last night To 3900 we're back at 39 60 man And it's not over folks to say the least you jump over to some of the other equities In the banking world first republic I was joking with a friend that you know friday the headline was We bail out first republic and not sure it's gonna Calm markets today the headline is you know that Credit swiss gets bailed out by ubs and their government and i'm not sure it's going to calm the market You got first republic down another four dollars folks. What's that 15 percent out there? Let's see some of the other banks because first republic is the Yeah, first republic is in its own entity right now because you look at some of the other ones that have gotten hammered You got pacwest trading higher that stock had been getting clobbered recently um What were some of the other ones is one in particular right it was first republic pacwest um But yeah, be careful man first republic they got 30 billion dollars on thursday the stock pushed 40 dollars and just like that We're opening under 20 dollars this morning at 1889. Let's see how our big banks are trading right now JP morgan higher from 123. Thanks dania zion was one of them So they're going to be a little bit higher today first republic though, man I don't know how you know once you reach that status folks that you're just kind of like a meme You're a meme because it's a joke because you're a bank that might go bk Seriously, how does that play out right? Let's see how schwab is trading this morning Yeah, schwab is higher too first republic might be its own mess and they might be the next one That's going to implode the next 24 hours. I would not have money. Would you have money in there? If you let's put it this way Well, thank you. That was the one I was thinking about western alliance. Thank you tiger j up three bucks as well If you had money in first republic folks above 250 000 get it out Get it out. Why not? S&P's up by seven. It's going to be an interesting open folks. Stay tuned. We've got a half hour left of the program Opening bell coming up next stay tuned folks 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 technique to invest like a pro because you'll be a pro All tfnn subscriptions books software and courses are available at tfnn.com And i'm even going to tell you how to get them for less Use tfnn's tiger dollars and you'll get up to a 20 bonus on your purchase And once you apply them to your account tiger dollars are automatically used for all future or recurring charges Tiger dollars also never expire are fully transferable and are a great way to add savings to your newsletters or services Become the investor you were born to be at tfnn.com tfnn educating investors 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 tigers for just one dollar for the year There's no catch or added costs when you join our community of traders in the tiger's den You can look over the shoulders of tom o bryan and the other tfnn hosts while they analyze charts during their live tiger tv programs And join an interactive trading community with hundreds of members exchanging ideas Interact with other tigers and tigers as they share trading ideas news analysis and discuss the market action all trading day Even at night and on the weekends the tigers den at discord is accessible on mobile or tablets as well So it's always at your reach to sign up today and become a part of this educational community of traders Just visit the front page of tfnn.com 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 in 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 This segment is brought to you by think or swim for more information Just click the think or swim banner on the front page of tfnn.com Welcome back folks. We kick off the opening bell with first republic down 19.67 percent right now s and p's positive by seven We're gonna jump around to europe. We're gonna jump around to asia asia down dramatically europe up this morning But boy the day is young we're 40 seconds into the trading week and it's fed week almost lost in the shuffle not lost in the shuffle but man When you get the banking crisis going on now the talk is are we going to pause is the fed gonna pause I heard the conversation this morning. So we just got the ecb last week right they go 50 basis points That hints to our market at least that The federal reserve is probably To some degree on the same page as the ecb with this being a global banking crisis basically that's unfolding in front of our eyes So we'll probably go 25 but things are uploading a little bit quicker Then you may have anticipated and i was reading a couple articles this weekend po people posting in the den About maybe the feds gonna pause i'll find that bloomberg article that i was reading yesterday about it And maybe they do man. Maybe they pause and they give it a month or two while they make sure that The banking crisis isn't gonna collapse i mean Inflation is a massive problem. You're seeing that the banking crisis is a massive problem as well And we're probably in a restrictive rate right now as in the rates where they are are probably restrictive to a certain degree If you let it play out long enough right and we don't want to wait that long as and we don't want to keep rates Where they are for marginal restrictiveness The goal was to get it really restrictive bring down inflation and then you can always cut if you need to So would it be the end of the world if they were going to go 25 if they pause for six weeks To make sure the banking crisis isn't a complete last no probably not We don't know how big of a mess it is now. This is the perfect segue to the next article. Okay So this is from bloomberg it's the big take And It's out this morning as of just before I came on the air. Okay, I was literally just pulling this up Before I came on the show and the kicker in here is folks is that when the government told them They had a 50 billion dollar backstop. They already knew it was done They already knew it was done So who knows what is already done right now that we have been told because they already knew That credit swiss was done when we heard they had a 50 billion dollar backstop from the government on thursday Was the ceo on bloomberg that day does anybody remember what morning the ceo of Credit swiss was on bloomberg because I remember watching him live. It was either wednesday or thursday I recall that he was on bloomberg saying they just need a little bit more time. Well, guess what? They had no choice After crisis of confidence, okay to put it lightly And what it gets into here Is that let me see if I can find it Yeah behind the scenes credit swiss's fate was sealed as far back as thursday when the bank announced it was getting a lifeline Up to 54 billion from the central bank and buying back as much as three billion dollars in debt No, as it turns out that plan was designed to buy time for the financial regular fin ma and the swiss national bank to secure a sale That's it. It was already done People were buying these shares thursday and friday that were actively trading on the market as an equity And they were about to get traded down to the tune of what a 60 percent haircut or something like that at least Let alone the bondholders that were buying thursday or friday so Similar stuff could be happening here, man You never know what's going to happen and we got a fed we got a fed decision coming up in two days Wednesday 2 p.m. Eastern time the meeting begins tomorrow How about all of this happening during a blackout period where you really can't have the chairman doing anything? right Yeah um One the terms of the initial ubs offer, okay, which put them at a billion dollars landed credit swiss managers were outraged Outraged the price tag was seen it. Um Yes, yes Yeah, eight billion dollars on friday shareholders would get wiped out managers argued The saudi national bank urged credit swiss to reject it calls went out from credit swiss to everybody out there Of course trying to find any other alternative, but the complexity and the time frame meant No takers man. Nobody wanted that a full sale was the only option to ubs 76 francs is what they got um Yeah, 99 lower than credit swiss's peak share and you know what a real kicker about this all is is that ubs got a bailout in 2008 credit swiss did not 15 years later credit swiss is out of business ubs is buying them and Credit swiss has made some spectacular failures over that time folks. My friends and I were just talking about in our group chat over the weekend one of them made the point of Ark arkagos right or archagos archagos I think they made about 17 million dollars in fees off of that whole debacle and they what did they lose in archagos archagos They lose like billions or something like that because remember when this was unfolding and the smart banks got out quick And credit swiss just couldn't do it man They were the they were left holding the bag and they lost Billions I think a billion dollars something silly man, and they didn't even have to the other banks knew what was going on and they got ahead of the curve and So there's been spectacular failures that have led to this. That's just one of them But yeah, one of my best friends works for ubs fortunately and um, he's over in switzerland went to villanova with him Got a job at jp morgan in switzerland Got a job at jp morgan in new york got transferred over jp morgan in switzerland and in jumping to ubs over in switzerland Thankfully, he jumped there versus credit swiss right, but still he was talking about last night Not good overall to put it lightly for swiss banking Okay, much better for him in ubs than it is to be a credit swiss and you know my dad sent me I'll try and find that article winners and losers in this man Um, they'll probably come out a winner, but overall the sentiment of swiss banking man It's a problem when you got such a collapse like that and remember that things can change so quickly in terms of the beginning of the year Those a1 t1 bonds and I'll try and find it. We're trading it basically a hundred now. They're worthless Absolutely remarkable and the one thing I just really wanted to pull out of this. I emphasized at the beginning is that They knew this was happened in thursday folks. They knew it was done They just wanted to be able to facilitate things as best they could. That was the backstop. That's not where you heard of media Right because they didn't know that As far as we knew They were still trying to compete as a business that backstop was going to provide the confidence they needed to go forward But no, that's not what was happening. So where else is that going on? Is it going on in first republic? It might be man. Let's see how first republics trade first republic right now Down 14 percent gets a bid on the open We get the s and p's right now positive by three nasdaq 100 drops on the open. You're negative by 80 points Let's jump around to some of our fang stocks apple shares down about two tenths percent microsoft off 1.8 percent right now amazon shares off 2.1 percent right now Boy netflix off 2.3 percent right now. What do we got going on? Let's check out arc for some of the growth companies Yeah arc off 2.3 percent right now. Let's see how teslas trade and fan favorite lower on the open Boy growth stocks really taking it on the chin right gold. How about the run for gold last night, man? Up to 2014 dollars and 90 pennies were still up by 15 bucks on the session technically at 1988 Quite a run for gold. You jump over to notes and bonds You run up to 116 24 and just like that we backed off over a full point these moves folks If you're a trader Try to take advantage of them because they are exceptional to put it lightly and what do we have the 10 year at right now Let's see if we can find it. What do we have the 10 year? 3.4 2% the yield on the 10 year right now Yes, over in asia Hong Kong shares slide 2% asia markets mostly fall is the headline you get the hang saying down 2.6 percent Nikkei off 1.4 percent. You jump over in europe a little bit of a different story Dax up eight tenths percent footsie up four tenths percent. Keck roll up a full percent Yeah, the day is young as our man basal Chapman would say bitcoin up a thousand dollars 28 000 on the dock and let's jump over to the dollar index as we wrap up the segment folks dollar index trading lower Look at that one oh three thirty three one oh five last wednesday speak to folks lots more to talk about 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? 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Tom O'Brien is here to help Tom O'Brien has been successfully trading markets for over 30 years A frequent contributor to TD Ameritrade Network and CNBC Tom O'Brien founded tfnn over 20 years ago to help educate investors just like you Tom's daily market newsletter market insights is published every morning when the market's open to give you the competitive informational edge you need to succeed These newsletters are packed full of tom's advanced technical analysis and are geared to deliver comprehensive strategies for a successful portfolio Get Tom O'Brien's newsletter market insights today And try all of our products and newsletters 30 days risk-free with our money back guarantee at tfnn.com tfnn educating investors build the smp 500 continue to climb for bold trades on us large cap stocks in either direction trade spxl spu u or spx s Directions daily smp 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 principal the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor four-side fund services llc This program is brought to you by vista gold traded on the nyse american and tsx under the symbol vgz Welcome back folks. We got the smps up by 13 points now trading at 39 60 nasaq 100 fairly in the red You get the dial trading higher right now. Let's check out the big banks. How we're doing jp morgan right now There's your bid for you up point 1.2 bank of america Up by about six tenths percent right now city in the positive by about 1.5 percent right now Wells fargo trading up about four tenths right right now keeping our eye on first republic That's slightly encouraging only down about eight percent We were trading at 14 dollars at one point last night folks as the markets were looking pretty dicey So you got first republic trading up almost 50 percent off of the lows Percentages off small numbers can be deceiving. That's the one thing you got to keep in mind going back to those at1 bonds And this is the chart i was thinking about here prices on lenders at1 bonds. These are credit swiss Are quoted at just a few pennies and look where they were Look where they were as recently of february january right absolutely remarkable The collapse there and that comes with the headline that the saudi national bank loses over a billion dollars on credit swiss investment Now it's so intriguing here right is it because i was reading this yesterday is that What almost started the real run that might have given them the demise was when the saudi national bank came out and said That they weren't going to invest anymore Even if that was the case They probably should have not been so defiant And maybe they wouldn't have lost everything because as their biggest shareholder that it just sunk What a billion plus dollars Yeah, there it is 1.4 billion swiss francs 1.5 billion dollars At 382 per share literally in november And they're gonna get 76 cents back Quite a quite a rip roaring trade. I imagine they didn't think within three or four months But it is remarkable that it almost started Yeah, here it goes right that's exactly Uh Let's see Yeah Right saudi national bank chairman On wednesday was asked by bloomberg if it would increase its stake in the trouble All he would have had to say is something open ended. We're exploring all options That's always an option to add to any investment that we have etc Absolutely not for many reasons outside the simplest reason which is regulatory and statutory Yeah 24% credit swiss went down that day. That was wednesday and what happened on thursday They Already knew the bank was going to fail and they provided them a 50 billion dollar backstop just to buy a time So that was probably enough to be the nail um that did them in and it's it's just remarkable Never think you know more man and never think your money's covered if it's not folks Because there were a lot of people I was talking to some friends that were you know saying who Who gets caught Searching out that kind of yield when it gets wiped out And the general consensus is why you thought that you could probably get out of dodge before it really got that bad Right, you know, you buy debt in a company like credit swiss That's worth seven to eight billion dollars on the close of friday, let alone what we were trading at You know, if you go back a couple months ago You always think you have time to get out of dodge before things get too dicey But not always the case man and that chart is quite a chart to put it lightly Yeah All right, what else we have pulled up here It's almost too much good stuff in this market man to take a look at and we really haven't even talked about Um the fed and what is there to talk about man? Two days is an eternity right now In terms of how quickly things are moving I'm just going to jump to the next article. Let's see. I have more than that All right, let's talk about starbucks. Why not because they got a new ceo Yeah, so howard schultz was in there new starbucks ceo takes the reins early from mr. Schult You got uh, let's see this gentleman's name laxman There simon has assumed the role of ceo on monday two weeks earlier than planned Join the company's board of directors starbucks said he began working for them in october And it spent the last few months getting to know the operations at more than 30 stores manufacturing facilities He also earned his barista certification. He's all set folks. No problem there Um So starbucks has their annual shareholder meeting on thursday. He is going to lead that He is previously ceo of wreckett Benkinser group While he was an executive pepsi that's probably more. What's what's anybody know with that wreckett benzinger group is Yeah, and he was at mckinsey so mckinsey pepsi maybe their consultants or something Mechanical engineer and an mba from worton not a bad pedigree there You jump over to starbucks shares this morning sb ux and they are up a bit seven tenths percent right now To 99 45. All right, let's check out some of the currencies man We'll check out the dollar index because we got such big moves in currencies in notes and yields driving so much of the action Yeah, it's not stopping man They put it on a five minute chart. Look at that Even since nine in the morning, you just had this thing go from 103 50 to 103 30 basically You were at 104 as of the middle of the day on friday in the dollar index And notes and bonds right now. We're seeing lower price higher yield You got so many different moving parts in this market right now. It's tough to keep track of the relationships in terms of It was very simple when we had the fed because what was happening. We were getting Lower price and higher yield which was putting strength in the dollar which was hurting the stock markets It's a completely different game man and Wednesday is going to be wild for fed day to put it lately and look at this market You know, we just traded down what 20 points from the open folks. You spiked to above 39 65 We're trading at 39 47 right now We jump over to the vixx Vic sitting at 26 29 off of the 29 high right back to where we were on friday and not surprising When you get the s&p is basically unchanged right now up about four dollars Boy, you're back to flat folks, but as I started the program off with You trade down 80 plus points you trade up 70 plus points to be flat and we're right back to where we were on friday's action pretty remarkable All right, what else do we have pulled up here we're talking about banks He has some of the biggest movers first republic probably on the top of this list out there They are catching a little bit of a bit on the open as we talked about you got all the banks in here Yeah, how about new york community bank nycb? Let's pull them up. So they're going to get a lift There you go, man. How about that one up 35 to new york community bank The fdic announced over the weekend that the bank subsidiary flag star bank will take over a large part of signature banks deposits and loan Portfolio and all of its 40 branches. So the market likes that man. You're up 35 percent. Let's take a little bit Longer term chart Yeah, hey I guess you're back to kind of the area that this thing had support in before you collapsed to 581 last week You catch a lift you're up to 880 and that's where this thing usually has had support going back almost a full year, man May of last year you were at 873 you're trading right now at 878 Yeah, and look at this, right? It's all banks, man. You know, they talk about energy, but we got pacwest zions key corp us bank corp It's all banks Yeah, they didn't even put starbucks on there rightfully so man All right, what else we got? Yeah, we'll talk a little bit of commercial real estate when we come back. So that's an interesting article Where stress is showing in the 20 trillion dollar commercial real estate market Take a look at that. We'll take a look at some of the other equities s and p's up by 14. Stay tuned folks We'll be back in three minutes. 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Let's put it back to a one-minute chart, man Because I was just talking to you saying at 948 that we were at 39 47 And these are one-minute bars. We're looking at folks and the market gets it back We're right up to basically the top of the trading range that we were at early in the day 39 65 I imagine you're going to get a two-way market folks because we're seeing action And look at first republic Okay Don't think you know everything okay that article that I let off with saying their fate had been sealed for credit swiss on thursday remember that because Let's take a quick look at what the market looked like on thursday This is what the market looked like on thursday when it traded from 3900 right up to 4000 meanwhile The writing was already on the wall and somebody knew first republic traded lower right after the bell Credit swiss was also Already a bit in trouble But nonetheless you waited last week with about a seven billion dollar market cap Meanwhile writing was on the wall on thursday They knew they couldn't compete and they were just trying to buy themselves some time And that made me what's going on with first republic folks Okay, because I don't know how you compete who who's becoming a new customer for first republic If you have over 250,000 dollars in your bank account nobody Nobody nobody should at least All right, let's jump around to some of the markets as we wrap up the program You get the s&p's up by 16 nasdaq 100 barely in the red by 82 points the dow surgeon hire with some of the strength of The bank stocks out there. Let's finish it up with those bank stocks Yeah, look at it man jp morgan up by 2.5 percent right now bank of america up by 1.9 percent right now city Up by 2.6 percent right now The day is young folks the week is young. I appreciate you tuning in And yeah, we'll end it with our man, dave white gonna miss him tremendously folks We'll be thinking about him for a long time and as dave would say it's a great saying man So true sell when you can not when you have to folks Uh And in a market like this with the speed we're having in this market Sell when you can not when you have to love your day. We're gonna miss you tremendously man Folks As my dad would say yesterday's gone tomorrow's not here. What are you doing right now? Tell your family you love them, you know and enjoy today. Enjoy the moment you're living. Have a great monday folks Thanks for tuning in look forward to talking to you tomorrow. Stay tuned for basil coming up next. We'll be right back