 The following is a presentation of TFNN. The morning market kickoff with your host, Tommy O'Brien. Good Monday morning, everybody. I'm Tommy O'Brien, coming to you live from TFNN just after 9 a.m. Eastern time. We got about 30 minutes to go until the start of trading. It's gonna be a wild week, folks. We got a Fed meeting. Fed announcement on Wednesday, all but expected. We're gonna get a 50 basis point hike. We'll see how the market reacts to that as we come into that Wednesday announcement. We also get a non-farm payroll for the month of April on Friday. Lots happening. We got earnings happening this week as well. We kick things off and you got the S&Ps almost unchanged. We've had some volatility overnight, though, folks. You wake up, you say, ah, the S&Ps are one point away from where we were Friday. Maybe today won't be as volatile as Friday was, but folks, you look at the action overnight, okay? Now, just because the move was so remarkable on Friday, okay, it looks like we haven't just chopped around at the lower level on the S&Ps, but that is because we have a high to low point on the S&Ps, folks, of 160, 160, 160 S&P points. Friday was one for the history books, man. Watch out from 4280 down to 4120 and we're jumping around right on that number. Now, I mentioned overnight, you were as high in the S&Ps as 4158. You just gave up more than a full percent. So so much for the volatility being over, folks. We just gave up a full percent from where we were at three in the morning. NASDAQ 100 did it as well. We've bounced now from those lows, but you traded from a price of 4158 down to 4110. That's a 48 point move. In the S&Ps, we're almost back to flat. You take a look at the NASDAQ 100, man. Let's take that Fibonacci number off there for some clarity. You trade from about 13,500 towards the end of Thursday. You got a spike on Friday to a price point about 13,425. We're sitting about 600 points below that number, folks. Now, as I mentioned, let's take this one off there as well and this one as well for some clarity. NASDAQ 100, we're only negative by 17 points, but get ready for some volatility, folks. We got commodities moving. We got a lot to talk about on Monday morning as we commit to the month of May for trading. This morning, 3 a.m. Eastern time, you were trading at 12,976. NASDAQ 100 traded down 210 points. Is that right? Yes, it is. 210 points from three in the morning till the low at 730. We've got a little bit of a bid. Gonna be an interesting open to say the least. You get the Dow right now. Positive by 53 points, but again, you zoom in on just the morning action we had. Three in the morning, you're trading at 33,000. High 33,117. You trade down almost 300 full points to 33, excuse me, 32,833. We're right near that 33,000 mark right now on the Dow and you get the Russell, negative by two. Bitcoin, we're gonna talk a little crypto this morning as well, man. Ethereum going a little bonkers over the weekend with virtual land sales, interesting in the crypto world. Bitcoin up 430 bucks at 38,017. We've got Ethereum trading at 2,806 right now. We got gold. There's a drop off for you, man. Gold, negative $51 right now at 1860. You got crude, negative by $3.62. Crude was up to 107.99 on Friday. We're back to 101. We just had a hundred handle on crude. And then you jump to notes and bonds. You're not gonna believe it, folks. We're getting lower price and higher yield. A little bit of sarcasm there. We come into a Fed meeting. 50 basis points is the expectation. And we are, I mean, are we gonna hit 3% on Wednesday, folks? We're at 2.96% right now. You take a look at this 10 year, you put it on a daily, coming right back down to those lows, folks. We're only about 14 ticks away from the lows we made on April 22nd. We got a little bit of a bounce, a slight reprieve. And just like that, we're coming right back down to those levels. Not sure we've had a week like this. Now, man, the market you could say was getting ready for it. Market is forward looking. Okay, we've had quite a sell-off from 4,600 back to start off April. April was like all negative action, folks. We've got a couple of bounces here. But these red bars, from really 4,500 on April 21st, we're sitting at 4,127. And you're talking about right near the lows we had for the lows of February. To be exact here, going back. So you put them on your charts. The low on February 24th, 4,101, okay? That is the low from the pullback, 4,101. We're only 26 points away from that in the S&Ps, folks. The low on March 15th, 4,129. Actually below that right now. The low from March 8th, 4,138. Actually below that right now. May 2nd today, 4,110,75. So you're talking about nine points away from the lows we made on April 24th. We zoom back out. There's your volatility around that number, man. We'll see where we go. Now, S&Ps on a larger term perspective, we put this thing back on a five-year weekly to get the full COVID run. My dad's been talking about it, folks. It's gonna be interesting. The 3-8-2, we're now below the 2-3-6. This was a one-way shot from 2,174 up to 4,808. And last week was a little dicey, folks, for the first time in a while on Thursday. No, Friday? Friday, excuse me, Friday. Early in the day, too. Ahead of the sell-off that really started late in the day. I'm gonna jump around a little bit to start off the program, okay? But let's take a look at the S&Ps. You look at this chart, okay? We're zooming in just on the trading day on Friday, okay? Yes, things were in negative territory, but even at 1.30 p.m. Eastern time, you were sitting at 4,200, okay? That was from 4,260. So you trade down 60 S&P points by 2 p.m., still dicey action, but we're almost used to 40 to 60 point swings in the S&P. I'd say the real acceleration went for the final two and a half hours of the day. Yes, you have some green bars in there, but it was a one-way shot, folks, and it was accelerated in the last 15 minutes of the trading day, and you basically came in right into the close at lows of 4,120. You traded down 80 S&P points. Now, the dicey scenario here is that Amazon and Apple, both coming out. Amazon trading down another $30 today. My dad was talking about this on Friday as well. Amazon's so hard to buy when you're talking about a stock trading at this price level. They will be splitting 20 for one. But yeah, maybe you get something on your radar if you're looking, folks, because there's nothing to stop this thing from pulling back. I mean, we're sitting at 24.50, excuse me, right now. Pre-COVID highs, 21.85. You're talking only about 260 points from where you're at. It's only 10% from where we came into COVID. Remarkable, but they saw quite a slowdown. They lost money for the first time, okay? Lost money for the first time in a long time, not the first time. And they said they might do it again next quarter. The thing that gets scary there, man, is when you start talking about we lost money last quarter, we're gonna lose money in the quarter coming up, but then things are gonna get better. The market says, hold on a second, that's your almost best case scenario, right? Amazon is certain, and I'm giving you the bear case from somebody who is a long-term bull on Amazon, okay? But when you're looking at the next three to six months, there is a potential risk for a real pullback here, because what you heard from Amazon, what you heard from Apple was some dicey stuff, and it all had to do with, guess what? Apple said all the paying for supply chain issues, they're all coming next quarter when we report to the tune of $4 to $8 billion of supply chain issues. That's what they know already. They're already in that quarter. What's gonna happen when you go forward? We will find out, folks. It's gonna be interesting to see how the market actually reacts to the 50 basis point. Hike gonna see what's in the press conference, what's in the statement from Chairman Powell. We get an announcement, 2 p.m. Eastern time on Wednesday. We get a press conference at 2.30 p.m. Eastern time on Wednesday. Put that one on your calendar, folks. It's an important one. We're getting a little bit of a bounce as we come into the 9.15 mark. S&Ps up six. Stay tuned, folks, we'll be right back. We have a lot to talk about. 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. 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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 4.00 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. Welcome back, folks. We give you the S&Ps, positive by four, NASDAQ 100, positive by four as well. Dow up 93, Russell in the positive as well. All the markets in positive territory. You got Bitcoin up 500 bucks. Market catching a little bit of a bid, but man, I would say it's just jockeying for the opening position where they open those gates, folks, because we've just been shopping around basically right near the lows of where we closed at on Friday. Overnight, you did have a little bit of volatility, but we come into the opening bell, basically unchanged from where we were on Friday and where we were on Friday, folks, was basically the lows of a day that traded down 160 S&P points. Remarkable to say the least. Okay, let's jump around to some of the headlines. We're gonna jump to Chairman Powell. Powell's Fed set to go big and keep going until inflation is tamed. Good luck, Chairman Powell. Fed expected to raise rates by half a point in May, also expected to do the same in June. We find out Wednesday, as I said, 2 p.m. Eastern Time announcement, 2.30 p.m. press conference. Inflation could push Powell to signal restrictive policy ahead. Yes, I would say so. I'd say that's a reasonable assessment of what may happen. The Fed chair and his colleagues wanna lift rates expeditiously to a neutral level this year that neither stimulates or restrains growth around 2.5% then slow the pace of tightening. It's kind of interesting that we, I would say we know what's happening on Wednesday. We're getting 50 basis points. I would say the market is pretty certain we know what's happening in June, but guess what? We know things can change, man. We got another month like April. The Fed might give some pause to jacking things up. It definitely will take 75 basis points out of the equation. A month is a long time when you talk about what happens at the June meeting. But as of right now, being data driven as the Fed is, yeah, you're looking at 50 basis points, but we got a long way to go folks when you get past those two meetings in terms of is this having an impact? Is inflation getting tamed? We're gonna get some comps that are not as difficult when we get into the late part of the year where inflation was already raging in 2021. On a year over year basis is inflation gonna be raging again in 2022? That would be very worrisome. If we have inflation still raging when you're dealing with comps towards the end of 2021 where inflation was already beginning to start to rage, that is when I would really start to get worried here that the Fed might let it get out of control. But guess what? We got a long way to go. We're talking about a solid six months or so where there is going to be extreme volatility folks. So this volatility is not gonna end because nobody has the answers. Everybody can have opinions, but there are so many variables in play right now. And that's what I found myself assessing on Friday. So in kind of a thought experiment, okay? Try and convince yourself to have a thought experiment, okay, of what the next three to six months may look like. The economy is strong folks, okay? I mean, some of these companies, even Amazon, Apple, some of the numbers that they're putting up just staggering. Amazon did lose money in North American operations. I saw one analyst writing about that the market probably figured that losing money in North America for Amazon operationally in terms of their retail was probably something that the company was passed. No, it's not. But these are trying times, okay? The scary part is Amazon, Apple, they said the next quarter is gonna be a tough one. They're already telling us folks that the next quarter is gonna be a tough one. Amazon might lose money for two quarters. Apple's gonna lose at least, I would say, four to $8 billion. That's the number that they put out. That's the number that they put out in the quarter we're currently in, right? In the quarter we're currently in, Apple said, we've already began this quarter. All of the supply chain issues are gonna be in this quarter. We're currently in that we're gonna report on in three months, okay? And we're talking about four to $8 billion. Well, what happens three months from then? What happens if China is still dealing with some serious supply chain issues, et cetera? There is some serious risk. It might even just be a tail risk, okay? But there is some serious volatility risk to the downside in this market. When you look at where we are, where we've been and the potential for just a reasonable pullback folks, we're sitting at 4129, 3791 of 382 is completely reasonable. And I would say almost 3500 is the mark that if we get a real pullback, that's an area that I, if I have some cash dry, that I would really begin to start looking at it, okay? Cause you're talking about another 15% down from where we are right now, you're talking about 3500, but let the data drive where we're going. Cause right now, they're selling everything folks. And that was one of the other parts of this, you know, you even look at a company like Microsoft, okay? Even a company like Microsoft, as strong as they are, is back to the 382 folks from the run. So you better believe the S&Ps can get back up there cause Microsoft is strong like bull, man. Yeah, you probably got a little ahead of itself up to 350. They were the brightest spot last week of all, beating on everything. There's the acceleration when they beat Tuesday after the bell. You close out the session at 270, you make it up to 290. But here's what I wanted to show you. Nothing is going to be protected if this market sells off. Cause even a strong stock like Microsoft on Friday traded down $14. Did you hear that folks? $14 from high to low. We were at 290, we missed it by 12 pennies, okay? And almost made it down to 276, missed it by 50 cents. So what is that? $13 and 38 cents to be exact. Folks, you're talking about a 4% move down on a strong, on a stock that was the strongest of all. The point being, this is a market wide acceleration and whichever way it's going, everything is going to get dragged up or down. So there's Microsoft, there's your S&Ps. We're not even close to where Microsoft is. That's the 382 and 50% is totally feasible. And you know what? It almost makes sense that this market is crazy enough right now to pull right back to where we started off COVID potentially, which is pretty close to that 3,500 point mark. We've never lived through something like this folks. I have not lived through something like this. Inflation is raging. That alone would not be as worrisome, okay? The reason why it's raging though are supply chain issues. The most worrisome thing of all on Friday was that supply chain issues are just starting to come into earnings, right? They are just creeping into the forecasts of the biggest company in the world, Apple. They told us that the numbers that they just reported, which was a record quarter outside of the holiday quarter for Apple, okay? Do not reflect supply chain issues that they are going to be dealing with from China in the next quarter. I know I'm harping on it folks, but really try and process it. As somebody, myself, I'm 42 years old, okay? And I'm talking about investments right now. I'm not too worried, all right? I have the time to write it out. If we pull back for a year, we pull back for a couple of years, I'll be fine. If you aren't hearing retirement, I would very strongly consider that there is a serious risk, even if it's a tail risk folks, okay? It's, if it was easy enough to buy this market at 4,100 saying everything's priced in, people would be doing it. There is substantial risk to the downside. A lot of us have been caught many times on some of the equities that have pulled back so harshly saying, you know what? We've pulled back so harshly, the risk has to be that there's a greater chance that it goes up than it goes down, but that has not played out continuously. And you jump to the likes of the fan favorites, Roku. I mean, Roku, sitting at barely 92 bucks right now, you could have made that argument many times coming into their earnings. Netflix, of course, this one's a scary one folks. Sitting at 192, you're gonna be up a couple bucks, but man, the pain just does not end on Netflix. You're trading at 185. Roku, Zoom, another one, right? Now, ARK has been in the press. You're sitting at 47 bucks right now. Just be careful folks, because the S&P's on a contextual basis, relatively sitting near the highs of where we are. Now, yes, you are back to basically a year ago, which is crazy. We give it all back a year folks from where we were in the S&P, but please consider that there is severe risk to the downside still because this market, it's not possible right now to factor in all the risks when we don't know all the risks. They are just beginning in some aspects for some of these companies' reporting. What might be a dicey six, nine months, man, as we come in. We got the opening bell coming up folks, markets in positive territory. Stay tuned. We'll go over some of the equities we got with earnings this week. We'll be right back. If you wanna take advantage of this sector, now is the time to subscribe to my Gold Report. The Gold Report is a comprehensive look at the metals sector, as well as the markets that move gold, which is the currency and bond markets. News subscribers get a 30 day money back guarantee, so you have nothing to lose. 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In the Tiger's Den, you can look over the shoulders of Tom O'Brien 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 Tiger's 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. TFNN is excited about our new software charting program, the Art of Timing the Trade Chart. In collaboration with Tom O'Brien and using his best-selling book, The Art of Timing the Trade, your ultimate trading mastery system, David White has programmed an outstanding piece of software that will complement any trader's methodology. 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You're looking at all the markets barely in the positive. S&P's up six points right now. NASDAQ 100 up 18. You get the Dow up an even hundred. Russell positive by four. Crude sitting at about $101.22. Right now, you're down $3.50. You're down dramatically from where we were on Friday, but crude. Volatility persists to say the least and talk about volatility, man. Gold down 2.7%. You're down $51.18, $59. The dollar index just continuing strength, man. And you get dollar index strength, folks. It is gonna hurt the gold contract priced in dollars no matter what is happening with inflation. It's a head scratcher, but I think that one has continued to play out. And if our rates continue to rise as they're expected to, especially in comparison, we talked to our man, Teddy Kegstad. Wednesdays at 9.40, Teddy making some great points, man, talking about the US versus Europe, right? The rates here versus Europe, the bid, the strength that is putting here versus the dollar versus whether it's the euro and the likes of some of the currencies over there, that is giving the dollar some serious strength and that is probably not gonna pause anytime soon. A few gold bulls out there. Be careful because you got a dollar that is strong like bull in a big way and you got the Fed just beginning to lift off, man. And we're talking about checking back. We're talking about now yields continuing to run. We're above 2.97%, folks. We might get 3% by the time I'm on the air right now. As we jump over to the chart and see where we are, look at the drop off we just had from 8.30, folks. That is a remarkable drop off from where we were just on 8.30. This is a five minute chart I'm looking at right now. You're at 118.19 below anywhere we were overnight, below where we closed out on Friday's action as well. Okay, jumping around to some of the articles I had up here. So we started off with Chairman Powell, okay, talking about inflation of course. Now they go through a number of different factors in here that we're all somewhat familiar with. One number to keep on your radar is the expectation for non-farm payrolls for the month of April. That number is out Friday at 8.30 in the morning. The market will be looking for 385,000 jobs added. We all, you talking about 6.6% when you're talking about inflation, it's gonna be an interesting one to see what Chairman Powell says. Now jumping around to another giant out there. This is an interesting one as well. The biggest treasury buyer outside the US quietly selling billions. Now I'm gonna jump real back real quick because one thing I wanted to pull out here, man, is that the numbers that the Fed's gonna be dealing with, come on, it was in the other article, this one. It was the number, no, it's gonna be in this one. All right, because they're both similar. This is talking about Japan folks. It's talking about investors can find good debt opportunities in Europe for Japan, rising currency hedging costs and Fed hikes deter inflows. So not a good sign when you got Japan, okay, not buying any of our bonds at the same time you get the Fed rolling it off. Now I wanna get one comment on the type of action you're gonna get from the Fed in here and they're talking about, come on, where were we? All right, I'll get this one at the next break. It was dealing with, I think $9 trillion, there it is. Okay, so the Fed is gonna pair its $9 trillion balance sheet, okay? The largest overseas holder of treasuries has offloaded almost $60 billion over the last three months. Now Japan has a $1.3 trillion stockpile, but folks, 60 billion on a three month basis. If that accelerates in any fashion, you can put a big hit in 1.3 trillion and when you're talking about 60 billion here or there. The currency costs for treasuries at the highest level in two years, you're talking about 1.5% and you see the run just from December of last year in terms of the currency costs for Japan, it's a significant amount of selling and on par with what we saw in early 2017 from Japan, we're gonna get the 50 basis point hike, the 10 years currently sitting, check this out. Yeah, not 2.91, we just said it's at 2.97 as of now folks. Buyers who pay to protect against fluctuations in yen dollar exchange rates see their effective yields dwindle to just 1.3%. That's the problem going on with Japan right there, folks, okay? That's because hedging costs have ballooned to 1.55%, a level not seen since early 2020. It could be a perfect storm here, folks. I mean, the Fed is gonna unwind the balance sheet and I think it was on here. Yes, here it is. This is the quote I wanted. So the Fed's got the $9 trillion balance sheet, okay? Minutes of the March meeting signaled the committee will likely agree to start shrinking that $9 trillion balance sheet in May, quickly moving to a maximum runoff pace of $95 billion a month. Now that sounds like a lot, $95 billion a month. Not when you're talking about $9 trillion, folks. I mean, you can be running off bonds at $95 billion a month for what? Seven straight years to get through that balance sheet and then you have Japan drying things up as well. What is that gonna do to the lack of demand in that market? If there's a lack of demand, that means the price should fall. There will be less buyers, okay? The Fed's been a buyer for a long time. If they're gonna be less buyers and you're seeing it already play out, right? That is why we have the tenure because who wants to be in this market? Look at this market, turn a negative on the open. Watch out here, folks. So I was having a great conversation with my dad on Friday, just talking about protecting yourself, right? In the long run, especially when you're talking about retirement and just being aware of the possibility of a pullback. Because a lot of people in this market, folks, are convincing themselves that we've pulled back 700 points in the S&P that everything is baked into this market and there is a substantial risk to the downside as we go forward over the next six to nine months. And as long as you're aware of that, that's one thing if you wanna take that hit and make it through it, okay? But if you're not willing to take that hit, I would cautious you to lighten caution you to lighten up right now, man. Because it's not stopping, folks. S&P's down 20 points right from the open. You're seeing the 10-year drop right now and you got the 10-year yield approaching now 2.98%. We might get to 3% by the time I'm off the air with the way this market is moving right now. I mean, we just gave up a half a point from where we were in the last basically hour in that 10-year, remarkable. And I could spend the whole show going over these two articles, folks talking about the Fed, and then talking about this one, which was so interesting in terms of how Japan is now gonna be, they were, as it says, the largest buyer outside the US for the Treasury and they are now selling and you can't blame them folks selling. Why would you wanna be the one buying when you're gonna be buying it from the Fed and the Fed's the one selling and you're competing as a falling market because you're the biggest buyer up there and everybody else isn't buying it because they know the Fed's selling. The currency conversion cost on that alone, though, is pretty remarkable if you wanna hedge against that in a big way. As I said, the reason why it's so remarkable folks is because the dollar has been strong like bull, man, and it ain't gonna stop. All right, let's jump around to some of the stocks we got moving. What do we got? Yeah, how about Berkshire? So they were out this weekend, Warren Buffett, Charlie Munger, and interesting, so they had a big stake in Activision. They reveal, actually, they have even a bigger stake now. 9.5% of Activision and they're playing an arbitrage play here. They think that Activision is gonna get sold to Microsoft at 95 bucks. There's your pop on that news. Activision's up 2.2% today as the market sells off a bit. The price that Microsoft will be paying, 95 bucks, right? Look at that news. Initially spiked it to 86. Buffett's been a buyer saying, hey, guess what? We think the deal's getting done. It goes to 95. If it doesn't get done, we know it's gonna go a little bit lower than 95. We'll talk a little bit more when we get back. Interesting action. Are you in the market for buying or selling real estate in the Bay area, including the surrounding St. Petersburg, Tampa, and Clearwater markets? Tiger Real Estate LLC is a firm that has extensive experience in the Tampa Bay area. Whether you're looking to sell your current property for maximum value or you're in the market for a second home or investment property, Tiger Realty has the experience across all areas of real estate in the Tampa Bay area to help buyers and sellers make the most informed decisions across all price levels. From the price you should be paying per square foot in certain up and coming areas to the type of cash flow investment properties are capable of creating, Tiger Real Estate can help you make the best decision when it comes to all areas of the market. Before you make one of the biggest decisions of your financial future, call Tiger Real Estate LLC today at 727-329-8322 or email us at tiger at tfnn.com. That's 727-329-8322. Call us today. The technology around us is changing every day. With so much happening, it can seem impossible to keep up with all the information. 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You get the Nasdaq negative by just nine, zooming in on the short-term action to see we got a little bit of an acceleration to lower prices. We're getting a little bit of a pop, man. This market, that's 100 points, folks. In the Nasdaq 100, as it goes positive, 12,872. Let's check out how some of the big dogs are trading this morning. Amazon, down another 3%, man. Watch out for this market, folks. As I was saying, Amazon, okay, and Apple. All right, Apple down 0.6%, Amazon and Apple. Amazon, negative quarter. This coming quarter that they're gonna report? Negative quarter, folks, okay? Now, here's what I will say, is that part of the reason why they lost money is because they expanded too quickly. All right, this is the long-term case. Short-term, be careful for the next three, six, nine, 12 months, okay? Long-term, we are a society that now orders everything online. That is not going to change. The infrastructure that Amazon has built out will pay dividends, folks. I'm in central Florida, right near Lakeland. They got warehouses aplenty. They got planes taken off over our, you know, house literally every hour. I'm sure even more than that that I can't even keep track of. They built it out too quickly, though. And that resulted in extra cost. I think they spent over $100 billion in expenses, like $108 billion, something like that. $112 billion maybe was their expenses for the last 90 days. Think about that. They're spending more than a billion dollars a day to run their company, all right? Eventually, though, those warehouses, those delivery drivers, it is going to catch up, folks. They said it's going to take a couple quarters, though, and the market does not like to hear that. That was the scariest part of it. Market does not like to hear, we lost money last quarter, we're going to lose money next quarter. But don't worry, after that, things are going to be okay. That is worrisome, folks. They will be okay, in my opinion, but they might not be okay in the next quarter, you know? That's just kind of a rosy scenario. I would say Amazon's pretty certain the current quarter we're in right now, it's going to be a tough one for them, all right? They're dealing with the same issues many companies are. The ones after that might be tough, too. They probably are just struggling to analyze how that's going to react. You jump to Apple, basically flat right now. We jumped to Microsoft, up 6-10th percent. You could say Microsoft a leader after their earnings. Google shares right now, down about a 10th percent. We jump over to Tesla shares, getting catching a pop-up 1.3 percent. Okay, jumping back to the earnings companies we have, Amazon deepens gloom for battered e-commerce stocks. So Etsy, Shopify, and Wayfair, among some of the other companies reporting. Boy, you talk about some companies, man. Shopify, there's a pop for you ahead of their numbers, up 5% for Shopify, up to 449 on the open, man. The volatility in this market. I mean, yeah, that's a great start to the day. It had a better start to the day on Friday. We all remember how that went, so be careful here, folks. Shopify, TFNN, we use Shopify for our website, folks. Great platform, down from 1762 to 445. You are now where you came into 2020, not even the COVID highs, pre-COVID of 593, okay? You're now back to where you were trading at in Shopify in August of 2019. So Shopify, they'll be out with their numbers. May 5th, so they're out with their numbers on Thursday. And yeah, there's a move for you. You're looking at 11 to 12% pop in either direction on Shopify. $55 move priced into their earnings. We got Wayfair out with their numbers Thursday as well. Yeah, there's a pop. There's some volatility for you, man. What is that? 18% volatility priced into this equity, down from $300, 298 as recently as November. You're trading at 78. You are now below where you were coming into COVID as well. Etsy, I believe, is out with their numbers. You're down to 93 bucks. You're catching a little bit of a pop. They are out with their numbers Thursday. No, Wednesday. Okay, so we got Etsy on Wednesday, Shopify and Wayfair on Thursday. Etsy, yeah, it's about a 15% move priced back in, I know Wayfair back to 2018. Some tough go-arounds on some of these equities, folks. You're talking about quite a move priced into it and keeping in line with the theme of the day, folks, is be aware of the risks, right? Larry always makes a great comment. Don't think about how much he can make. Think about how much he can lose. In this market, you should be thinking about how much you can lose. And the reason why options are great, even when you're not trading options, is because they tell you at least one qualification, one calculation of what the market is pricing in that you can lose. And if you were trading Etsy shares today and you're gonna hold them through earnings, you have to consider that there is a realistic chance that they come out with their numbers and trade up or down $15. It's hard to imagine on some of these equities, folks, as far as they've fallen back, that the risk to the downside is as fair to the risk to the upside, but it is. So be aware of it, because our minds have a habit of tricking ourselves. Yeah, wayfair back to 2018. Zoom, back to 2019, right? Zoom's out with their numbers May 31st. They're up 2.3% today, catching a little bit of a pop. We put it on the 15 minute. Yeah, there's your pop on the open. But yeah, you talk about, man, a pullback. You are back to where you were trading at in 2019, folks. Just a remarkable pullback across the board. So be careful on these. And yeah, so they'll be out with their numbers. And we all know the risks. It just talks about it in a big way. Revenue for Wayfair projected to fall about 15% this quarter while the 26% growth expected to Shopify would be the lowest since 2014. I mean, when you're dealing with the multiples that these companies are dealing with, it's pretty remarkable that you get punished for going at 26%. But you get punished when you're trading at multiples that are almost video game style numbers. The consensus for Shopify's earnings reduced by about 9% just over the last week. For Etsy, its average earnings projection has dropped by 2.6% over the past month. It's down 30% over the last 90 days. Revenue declined more than 9% over the past quarter. These are all estimates. Okay, retail, be careful, man, in a big way. Yeah. Jumping to the Metaverse. Now, this is quite an interesting story. So the Board Ape, right? Have you heard about these NFTs? The Board Apes, they're all the rage. So this had to do with, they were selling land. ULABS, they've created the Board Ape Yacht Club. That's it, the Board Ape Yacht Club, okay? It's a collection of NFTs. They launched a sale on Saturday for virtual land related to its highly anticipated Metaverse project. So the Metaverse project isn't even out. They're selling 55,000 plots of land. They raised about 320 million worth of crypto in the largest offering of its kind. Demand was so strong that activity related to the event caused ripple effects across the entire Ethereum blockchain, disrupting activity and sending transaction fees, soaring the transaction fees, I think, of the most interesting part of the sole story. So you had to be a holder of an Apecoin token who verified their identity and you were jockeying to buy deeds for 55,000 parcels of virtual land in other side. That's the project's plan Metaverse game in the latest extension of the Board Ape franchise. Each plot cost a buyer around $5,800, and that was on the Apecoin, there's so much going on in this article. Apecoin's price of 19 bucks. We're gonna finish this up, cause we gotta break. You pay transaction costs when you do something with Ethereum. They're called gas fees or transaction costs. There was so much transaction taking place that those costs, just to get that transaction executed, skyrocketed to the point that people were paying as much as $6,000 or two Ethereum, just in transaction costs, in addition to the $5,800 they would buy for the actual plot of land that they were buying. You hear that? Just the cost of getting the transaction done basically brought Bitcoin, excuse me, Ethereum, to the point where the cost was worth what you were actually buying itself. Finish this up, get back, stay tuned, folks. 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 4.00 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. 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.com. The opening call newsletter is written by Basil 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 in stock prices. Get the opening call newsletter by Basil Chapman and 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. If you want to take advantage of this sector, now is the time to subscribe to my Gold Report. The Gold Report is a comprehensive look at the metal sector as well as the markets that move gold, which is the currency and bond markets. New subscribers get a 30-day money back guarantee so you have nothing to lose. Every Monday morning, I publish the Gold Report with coverage of gold, silver, bonds, the XAU, HUI, GDX, as well as more than 30 different mining equities. To seep yourself, the types of profitable trades that are recommended within the Gold Report, sign up now by visiting TFNN.com. Don't miss out on the next great gold trade. Sign up today. 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. Oh, welcome back, folks. We get all the markets in positive territory. S&Ps, you just popped 30 points, folks, in the S&Ps, man. The day is young. We got a man, Basel Chapman, coming up next. You get the S&Ps right now flat. NASDAQ up 47, Dow up 29, Russell up nine. Commodity is crude. Down about four bucks at $100 in change and the gold contract, man, continuing to drop gold down $56 at $18.55. We got some big-time dollar strength, folks, and you got yields continuing as well. I talked about we might get to 2.3%. We're at 2.99, just that close, folks, 2.99%. Right now on the dot, maybe 3% is getting saved for Basel. We got two minutes left in the show, though. We might hit 3% right now in this market. Just a remarkable action, folks. Now, jumping back to the story I was talking about. They launch virtual land sales on Ethereum. It crashes the network. What happens in that is that other sites, other different businesses that are using the Ethereum chain basically crashes the entire network. Now, this seems to me, folks, like an issue of the dot-com bust, okay? So you had 55,000 other deeds sold, 45,000 allocated to the board-ape Yacht Club and Mutants, okay? Then it gets into, while the 55,000 other deed NFTs were sold out around midnight, others were delayed. Apecoin is striving to become widely used in a variety of so-called Web3 apps. Now, they are backed by some serious venture capital funding, venture capital investors that help with Apecoin's March loss, including Anderson Horowitz and Animoca, were some of the biggest recipients of the Apecoin. So they get an airdrop, which means some of them received a billion tokens as a reward, but then they say they and other launch partners received 140 million tokens. I'm confused by this, right? It's like they automatically received a billion. They got 140 million. Nonetheless, folks, the price has nearly tripled since the coins released. So they're releasing their own currency. They're propping it up. It's where that rests, folks. I mean, it's such a hard thing to peg the value of all this stuff when it's all theoretical, but they talk about the slowdowns. Many apps have seen virtual land for crypto before, and then they've seen it slow down. Decentraland, the number of transactions down 35% in the last 30 days. Be careful in that market, folks. All right, be careful across the board. We got wild action, man. We got the S&Ps flat, S&Ps flat, folks. And why not? We'll finish it off with a VIX, utility index right now, 3476. Stay tuned, folks. Live programming all day. Basil's up next. Larry at 11. Larry's got a webinar coming up in two weeks. We're gonna get it up on the front page of TFNN by the time his show starts, folks. Have a great Monday.