 The following is a presentation of TFNN. The TFNN Bull Bear Training Hour every trading day live at 10 a.m. Eastern. Call now toll-free at 877-927-6648 or internationally at 727-873-7618. The TFNN Bull Bear Training Hour. Now, Tom and Tommy O'Brien. Welcome folks, appreciate you growin' and prowlin' with us out here. We have the Dow Industries down 65, NASDAQ our 45 S&P's down 14. Gold contract down a buck 80, trading at $1507 an ounce. You get silver down 2 cents, $16.91 cents an ounce. Light sweet crude, look at that, it's kind of big. I know, right, quite a reversal from them, yeah. Yeah, a buck 80, trading 54, 37, notes and bonds. You get the 10-year down 2 ticks, $129.27, the 30-year up 3 at $161.21. And that note and bond market folks, it looks like they almost set up another ABC structure on the way up. They rejected the lower price yesterday, had light of volume. Bottom line is that these rates are continuing to go lower. King Dollar, King Dollar down 19.6, trading $97.415. Now, King Dollar folks, last four days, you get light volume, you're trading sideways, bulls and bears are still fighting it out really. Euro, Euro is at 111, the yen is at 105.83, and the pound is out here at 120 to one U.S. dollar. We're going to take a look at the S&Ps, and what you're going to see out here, the spy right now, you had an expansion yesterday, up priced in a big way. You know, you're going sideways. This is still telling me that this thing wants to get up to that 295, which isn't at a far away like we were talking about yesterday. It seemed like a long way away. Well, guess what? We started the program. Bottom line is that he went from $289 to $293. Can I just say, I heard this morning, we're so close to this week being right exactly where, so the close, there's that last Friday, that is, so the close last Friday, $292.62. Why don't we just get there and we'll just forget this week ever happened. No, totally. We end the week, we end the week. It's pretty remarkable that it's like that. It is, and that's exactly, you're right. When you made it down Monday to $281.72, we're going to get a 10-point pop in the S&P from the low of Monday to the end of Friday. Right, totally. Yeah. And the X100, same type of setup in the NDX. In fact, the NDX, as well as the Nasdaq Composite folks, was strong. I mean, you know, the NDX, I'm thinking, you can get to this 189.32. You know, we got to 188.32 yesterday. Now, watch the composite, though. This, and the composite had volume behind it. So the composite, we got up to 8041. That number would be 8110. But look at this. So the composite actually went up with good volume. Look at that, $2.4 billion. Yeah. So what that's saying is that that, to me, that's saying, you know, guess what? That composite can go back to the highs. Yeah. And that would be deviant beyond belief. Gold contract continues to want higher price. You know, it's pretty amazing that you had a market that, bottom line, you know, had a great day yesterday. But yet, gold basically stayed at highs. Yes. You know, it's hanging up at these highs, man. Yeah. And that's, you know, you get 1575, 1585. Is the price projection. And I suspect we're going to get it. You know, the note and bond market with that also did that rejected lower price, which is like really like, whoa, man, this is like, you know, for a market that's up, we were up almost 2.2 and a half percent in the Nasdaq. It's huge. And we can see, so we came back with 2 million contracts, going at 2.6. Bottom line is that it's still game here. Yeah. What are we saying at EO? 1.7, something like that? I think it's 1.7, so it was this morning. There you go. Yeah. Yeah. 1.7. 7-0-3. Yep. So the ReFi boom is on, folks. There's no doubt about that. Inside the mortgage market. Yes, for sure. Yeah. We just shaved more than a quarter point off after the rate cut, as in starting from Friday, you know, really, just huge. Yeah. Let's take a look at some of the higher volume equities out here in this market. I expect we're going to get a low volume market out here. Except if you're in Uber. I heard you're talking about Uber right now. Uber is down three bucks. 350, actually. Yeah, almost 10%. You get Dropbox down at 239. Okay. Activision Blaze down 165. Craft Times, let's take another hit. Down at buck 25. You know, as we tie in, I'm just going to jump back to the number. So Uber, maybe we all know. I know. I'm not going to forget this number, man. They lost. Where are they? Yeah, this is the article. How old was the number? Where are they? 5.2 billion dollars, right? So the cool story, just because it ties into Craft Times. Yes. That quarterly loss, bigger than yearly losses for every S&P 500 company, any of them. You know, that lost money, except for three of them. One of them being Craft Times. Wow. Look at that. And GE, dealing with some woes, and then Newwell Brands. Yeah. Those companies had losses greater on a yearly basis. And you know what's interesting about that? It's just that Craft Times and GE, they have accounting problems. Yeah. It is huge. I'm not sure about Newwell. I was just saying, I'm not familiar with it. Yeah. Newwell might be... Yeah. You have to have massive problems if you lose one of the $5 billion in a year. Right now, too. Things are going really well. What did you just do to those $5 billion when the economy is rocking? And you know, folks, Tommy and I were just talking about this UBER. So check this out. The 5.2 billion? 5.2. 90 days. So the 5.2 billion, folks, we didn't read the whole thing, but it would say it's on... Executive compensation. Yeah, compensation. So stocks. They, you know... So picture this. We're saying, can you imagine that... Now that's a public company, so they're taking the public to the cleaners. Right. Okay? But you imagine if you're a private company, they... You fund a private company and then they say, oh, hey, guess what? We're going to take stock compensation. No, you're not. Yeah. Your investors would say, if you do, I'm never going to give you another dime. Yeah, exactly. Because that's not why I'm giving you billions. Right. To show growth. Right. To give it to executive compensation. They'd argue that they need those executives to compete in the marketplace. To lose money. Right. To the, you know... And that's what's remarkable. Part of it said the CEO had mentioned, you know, listen, we're going to be profitable. It's going to be... Whether... I think it was very lax a day's ago. Whether it's 2020 or this 2021 as a down the road. But you just pulled up their numbers, man. They show expected losses through 2020. So... Yeah. I wouldn't believe as he talks... No. ...on one side of his mouth that, you know... Because that's right. And what Tommy's saying is that the executive said he could be profitable by 2020. Well, when you pull up the numbers, that is not factual. You know? Right now, whatever they've filed is saying they're going to lose $6 this year, $3 next year. Yeah. And I wonder how quickly... They get updated quickly, but I wonder if those were even revised from yesterday or before their numbers? You know, I wonder how quick... Yeah. Because I know they're reporting numbers. These get... You know, that's the legit number they came in with $2.9 billion in revenue. I'm sure the second quarter and that $472 per share, which is much bigger than they thought they were going to lose. Right. But what I was thinking of yesterday too is that, you know, like, you use Lyft and Uber a lot, don't you? I was listening to the show. I think I know what you're going to say. Go for it. Yeah. That their own competition, it's their own drivers because when you get Lyft or you get Uber, they have both stickers right on their car. So Uber's the leader. Right. But you get into an Uber car. Yep. I have both now, but I was an Uber customer exclusively for a while. Right. And then you get into an Uber car, boom, there's the Lyft sign. Exactly. And I instantly thought to myself, I wonder when it starts being an exclusivity driver type deal. Right. You want to drive for Uber? You can't drive for Lyft. I wonder if that starts to... That's troublesome though, right? Oh, yeah. Because then they say, well, that's fine. I'll drive with Lyft and they'll let me drive with other companies too and then Uber maybe, but you can see that happening because you're right. No, it's their own advertising. And I get Lyft. Lyft sends me great deals. And it's probably because I use Uber all the time. I don't use Lyft. Lyft probably the algorithm realizes they need to spend money to get me. I get 25% off rise through this day. Oh, dear. So I don't see how Uber is just going to come out of the woodwork and make all these billions when I'm an Uber customer and Lyft's coming at me. Right. So there it is folks. Tommy and I are coming right back. Our phone number is 877-927-6648. Coming right back. If you're not currently using the Taz Profile Scanner when looking at setting up your trading opportunities, then your arsenal is short a mighty weapon. The Taz Profile Scanner is a standalone piece of software that instantly filters over 2,500 global financial markets such as stocks, ETFs, commodity futures and forex. Heated by Steve Dahl, Taz understands that in today's technological world, the use of top flight software applications and technical analysis expertise is essential to successful trading in today's market. You also gain access to the webinar that Steve Dahl and Tom O'Brien just hosted, the best way to use the Taz Profile Scanner to profit. 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Let's just go over and take a look at good old Royal Gold folks has been leading the charge inside the gold equities. And this baby just continues, man. I mean, this is pretty intense. You know, if you go back three months, the stock was at 81. You're at 129. It's quite a move. It's a monster. Yeah. And oh, I see. You know, and Frankie had called from Gloucester and I couldn't find the ABC and I got it right now. That's interesting. Well, maybe that's, maybe he called two days ago. That's, you know what happened? I see what's going on. That's when he called. Yeah. So now this is an ABC. Down. Up. So even, my God, conservatively, that's 84. That's 120. 36, right? Yeah. 46. 51. 151. 147. Off 111. 36 off 111. 147. 147. Okay. Yeah. You got 147, man. Let's say Frankon Nevada, FNV, still going to. And Frankon Nevada was pretty cool this week, folks, is that Frankon Nevada finally got away from its breakout area. Now that was taking a while. And Frankon Nevada used to be the premier one. And it looks like, you know, Royal Gold's taking that over. But now we're really away from it. So the breakout here is 86 here at 95. And that's what it takes. Do you know what I mean? It's all at 10% above there, right? Yeah. It's like, okay, let's go to another move. So that's, and that's still without the dollar, basically, you know, it's really not at highs, but it might as well be right next to highs. Pretty close. I agree. How about Apple? Can we take a look? They're down to $1.65 today. And then we have some stuff going on with the Huawei in terms of the licenses to do business with them. We saw some of the chip makers. I'm not sure if that was hitting them in terms of when it first came up that the American companies weren't allowed to do business with Huawei. It's a big number. John said we're going to have an excavated license process or something. It looks like that's been pushed back so they can't do business with them. Yeah. Which is a big number for them. For our bottom line, big money for them. Yeah. And Apple looks to me like, you know, a 201, that 170s game, man. You know, what's going to get intriguing here is that the way that the market looks like it's trading, you know, you've got to side ways to be back a little today. It's probably going to have light volume. I would have loved to see it hit those numbers today. I mean, that would just have been, but that's too easy, I guess. Okay. You know what I mean? Sure. So I suspect we're going to back down. We'll go after it next week. As we're speaking here, folks, this note and bond market's taken off again. The gold's taken off again. Yeah. And markets are at the lows right now. Right. The off 163. It's serious business. So let's just... Yeah. Yeah. That's 15 ticks, but... Even just jumping, I just wanted to see the indices as... Yeah. You can see it. I thought we were going to be right next to that low and we're right down there at the Dow right now. That's a low from the swanning, right? It is. That's 730 now. Right. We're down. You know, we got... That's 930, that first big green bar. Let me zoom it in. Because that's actually your opening bell, which is interesting. Usually the... If it's this quick of a direction, sometimes it's right out of the gate, right? Right. But it had to get 10 minutes. It did. From 277 up almost 100 points. And then we've now gone from 26, 350. We're down 170 Dow points. And when you put that identical in the S&P, we got two five minute bars to the upside. We hit 29, 35, and we're now 20. It's a quick 20 S&P points, man, in the span of about a half hour, 35 minutes. And why don't we check on what the VIX is doing? Because the VIX had quite a pullback yesterday to 1682 on a week that's seen 1,000 point Dow moves. Yes. 1821, I'd say that's still relatively low. When we said the S&P trade, 20 points in 40 minutes. Well, there's no doubt about that. Let's go take inside the Dow industry. It's the strength versus the weakness out here. Haven't heard about Boeing in a while. What are they going to... Yeah. So you got travelers putting three positive points, Merck II, Big Mac II. That's it. And the downside is really not that bad. There's small numbers, but we're down 162. Yeah. And I think that's because you see a lot of these $200 stocks down 1%. That's a big number. All these 120, it's down to Buck 86, Caterpillar. Home Depot down 2 bucks, it's 209. Pretty right on the peg to be down 1%. IBM down more than that, and Apple down more than that. That'll do it. Yeah, this is a great story, folks. This is so cool, isn't it? I was sitting in my desk like a little kid being like, you're reading here, man. Yeah. And for those of you who sent it to me this morning, you can email people, and the headline is like, what does that really mean? It's kind of enticing, but most times headlines disappoint. Yeah. You know, this time it didn't go forward. So the headline reads, Meet the Spy 11 Kids with $250 billion riding on their lives. Now, this is pretty amazing. You know, it is. It wants you to go over. Sure. So the fate of the world's largest exchange-traded fund rests on the health of a group of 20-somethings. Yeah. The legal structure used to set up the Spider S&P 500 ETF, known as the Spy, more than $250 billion rests on the longevity of 11 ordinary kids born between May of 90 and January of 93. So that's these children in our career in public relations. They're all across the country. Yeah. None of the eight spoke to him by Bloomberg, was aware of their role in investing history. They didn't even know. So today's the first time I heard about it. One of them, Alexander Most, who's about to start graduate school. So it all harks back to an arcane structure used to create the Spy, the first ETF in 93. This is why all of them born from 90 and 93. Yep. All right. You'll get why as we go through it. So they were all between zero and three when the Spy was founded in 1993. It was set up as a unit investment trust, which requires a specified termination. Like many such trusts, the fund was initially structured to expire in 25 years. It already would have been expired. January of 18. But pegging the fund to the lives of individuals extended its own life. So the Spy, as we know it, will close on January 22nd, 2118. So that's 100 years from now. Yeah. So they popped in exactly 100 years from its expected date. Okay. Or this is the key. Yeah. 20 years after the death of the last survivor of the 11 persons. Whichever occurs first. They better stay healthy, man, or S&P, SBY traders are going to be anxious. Yeah. The structure doesn't provide those people with any financial interest in the Spy. So they have no, they're literally just so trusty, but I think I was guessing, and I don't understand, I'm guessing that the way it works is the trust gets liquidated to the investors. Yes. So it's a trust that's going to end up being worth nothing, but you have to say who the trust gets passed to, right? Exactly. So they're going to get nothing. So that's why, and look at those runs in total assets, man. Right. Even it was slow and then boom. Yeah. Look at the 2003 to 2018, from 15 years you went from, I'm just balling what, $30, $40 billion it looks like to $232, $40. Right. So at least eight of the 11 have a family connection to the AmEx, the American Stock Exchange. That's your start at it. Yeah. And so they go through here how, it's basically just people around the office. That's what it was. They were like, we need a name, we need a child, we need them to be young because that way they can grow old and we don't have to worry about this for a long time. And, you know, they have Claire McGrath, she was a lawyer in the Options Division of AmEx. Do you remember a call going out from baby's names that could be used by the trust and volunteer to son Kevin and two nephews, Paul and Peter Pavelka. And they just go through. So Kevin, you know, these are just normal people that just got offered up and it's just remarkable that that is the structure. But you could see that they were really looking for longevity. Yeah. And creative ways of structuring financial products. And they've gotten a little bit better, I think, of not needing to do this. And they're going to have to figure out something. They said there's seven other ETFs like that. That's how they were starting out and there's some of the biggest because they won them first. Can you imagine, folks, okay, you're coming up to that and it's like, okay, are they going to have to sell everything? They're going to try and figure it out. No, they will. They got it. Stay right there, folks. Tommy and I come right back. 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We are so confident that you're going to love this new charting software that will even give you a 30-day unconditional money-back guarantee. Don't miss out on this incredible new piece of software. Get your copy of The Art of Timing the Trade Charts today by visiting TFNN.com. 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. Folks, I doubt. I was down 191 at the NASDAQ 84. S&Ps are off 26. Let's go over to Berkshire Hathaway. Things are moving quick. You better type fast. They are. And the reason I want to go over Berkshire, folks, is that what had happened... Was it Monday? The mic was down. Yeah. Is that... Yeah. Yeah, Wednesday, I guess, was at the low then. Okay. So, Berkshire, you know, came into its lowest-wing point with volume and broke it. So, this is a big heads-up, I would say, in general, for the financials, right? So, let me bring this back a bit. Because, you know, it looks to me like, you know, you have the bottom of the consolidation on Berkshire is 186. And, you know, it's making its way down there. If we break it, then, you know, these financials are going to be in trouble. And, you know, the J.P. Morgan, I mean... Yeah. That was a fast move down, man. It's, you know... That was when we hit a 1.59 handle in the 10-year, J.P. Morgan did not react well to that. No. No, and you can see, look at that expansion of volume, 17.3 million, you hit 105.94. The swing point is 104.84, and we only had 10 million, 10.9. That's up, that's saying that, guess what, this thing can break. And that's technically, fundamentally, it's about those spreads. Yes, for sure. You know, and, you know, in the den, it was pretty cool. I believe it was Denmark. Someone put a story in there about Denmark. Denmark, banks in Denmark now are giving out negative mortgages. It's like, I always have to look up, wrap my head around that one, right? Yeah, negative mortgages. So I take out a mortgage, and it's... And they pay you. And they're paying me, so I'm paying back less than would even be the principal of the theory, right? That's correct. That's what you're paying. It was a minor thing. Point, it was point zero two. It's remarkable, because I would all love to just be paying the principal leg of your mortgage. Right. My God, right? Right, right. I mean, because at the start end of the first 10 or 15 years, the lion's share is all interest. All interest, yeah. Isn't that wild? That is. Sure, let's go, bring it on. I like it, let's go. Hey, that's, you know, and if we go look at this 10... They were talking about in the den earlier that the president maybe tweeted or talking, he wants a full point cut. That's what they said. I don't know, but I believe it, man. Oh, this is... Why not? The market's gonna... Why not go for two? Why not say zero? That should be a zero. The market's gonna do it. Let's just get to the end. This is the thing that's crazy. So when you set this up, folks, okay? It's quite a monthly bar. This is... Those lows that... Yeah, let me do this a different way. I don't have to just hold this. I'll put this up. When you see this, you know, the cliff is not far away. It is not. Jump over the cliff is 1.31 right now at 1.68. Okay. You know? And I wonder what the... When we do this, you know, you notice that when we do the shot this way, folks, it always gives us a lower rate than when we look at the other shot. See, like this one here. No, this is the yield. It's saying it's the yield 1.68 right now, right? Now, watching we do this, when we put up this other screen, it's in the low... Oh, there it is. What was I saying? Oh, so it did catch up. I see what's going on. It's a different decimal point. One catches up. The other one goes out of four decimal points. Okay. So it went 1.6795. Okay. There's 1.68. But I know it does differ sometimes. Oh, but that's cool. See, that just caught up. Interesting, man. I don't know. Okay. No, now that's saying the same thing. Isn't it? It is saying the same thing. Yeah, which... If you just go back, I think it might just bring us back. Let's see. There we go. Yeah. Okay. It's 1.6778. Let's see if we go forward. See, this is three decimal points. That's four decimal points. Cool. Okay. Yeah. Pretty wild, man. Right at those lows, man. 1.68. 1.68. But it is remarkable. Actually, no. Now we have to go back, because we hit 1.595. That's what brings it. Okay. There we go. Okay. Yeah. So I don't know how that sets. Maybe that's out of the trading. I don't know. That's the day. I don't know. Yeah. All right. All right. But... Silver. Let's go take a look at the silver market out here. You're up 9 cents. Staying at the highs, man. This is going to be on a Friday, folks. This could get really interesting inside this currency market. Yeah. We're getting a fast pickup in the market. No, we are. We are. Get the Dow down. I was... As you went to load it, I was thinking to myself, I wonder if it's down 200 at this point already, and the Dow's down 226. Yeah. Pretty wild. So we get a target that wants to look at... Vista Gold. Some mining equities. All right. Mining equities. So you're at 95. This is an ABC up. I think it's to one. Let me see that. B point is... What is that? 96. That's... 71. 71. So... 25. 25. I'll get you a dollar-five. A dollar-five. Yeah. We hit it on the dot. Yeah. This baby looks to me like, you know, 2016 is game here, which is $2. So we'll see how this shakes out, but that spike there is the next number, the next big number. I figure $1.25 is next. You know, we'll see... You can see even this little swing point, that little swing point there come back from February, was $4.4 million. We went into it at 6.1. We've already done 3.9, and it's over the beginning of the month. Yeah. So that thing is game up there. Yeah. We'll see how it shakes out. And the volatility is going to be there. Okay. So this is... Now, the difference here, this is kind of intriguing, because this area is strong, okay? It's particularly for a... That's an exploration. Now, Great Panther has some problems, man. I don't understand why Great Panther hasn't really got some big traction. Yeah. And they haven't, you know? So, yeah, I can see that, you know, this spike up here of $1.19 can be game, but we need some real strength in Great Panther. Yeah. This has been a laggard. Can we... How do we compare? Yeah. You go to... Hit compare. Perfect. $95. Yeah. Let's compare it to silver. Okay. So hit index. Let's see. Index. Because, as you're saying, Silver's going to dramatically outperform Great Panther. When you look at... Great Panther is at $0.82. Yeah. You back it up to wherever you go. Right. Yeah. So, no, that was dramatic, I guess, as you'd think, but still, what is that? So that would put Great Panther should be trading at $0.16. Yeah. If it was trading on par with Silver. Well, yeah, let's do it this way. Watch this. Swings... No, go ahead. I'll just do it with another stock. Sure. So what happens is... That across the board, too. But even that, it should be almost 50% higher. Oh, I know. It doesn't take much. $0.87 to $1.21. There's Great Panther. Now, watch this. Now, this has been... This is a highly volatile stock, but I'll do it with first majestic. Okay. And you're going to see a whole different animal. Yeah. What? To be fair, $0.20. See that? What do you mean? As in the comparable price on the chart is $0.20 for Great Panther to be trading at, which is actually the identical price point that it put... No, the green one now is first majestic. Yes. So the way that... Now, it's because if we... The way to do it is we should do these charts from May 19th because actually there was massive differences and I saw the same thing in Silver because actually what this chart interestingly enough is showing is that since that time back then... Yeah. If Great Panther, the white chart, was performing as well as majestic, it would be up here at $1.20, which is identical to what the price was when we pulled up Silver. Oh, cool. You see what I'm saying? Yeah, yeah, right. But it's because, like you're saying though, let's put this on like a three month... Okay. ...daily. No, we have to redo it though because see it's calibrated. I think you understand, right? Yeah, no I do. From this day it really is outperforming it or make. Pretty wild. Yeah. Stay right there folks. You come right back. Our phone number is 877-927-6648. Dow. Dow Industries, Dow 187. We get the NASDAQ off of 89. SAP's Dow 26, come right back. 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That's TFNN.com and hit watch Tiger TV for the latest market information. Folks, I doubt. If you have any questions or questions please contact us at 222-20-NASDAX-OF-97. S&Ps are off 30. Let's go to Derek in Wyoming. Derek, what's going on, brother? Good morning, Tom. How are you? Doing great, man, yourself. Doing really well. I really appreciate you guys being there on TFNN. We appreciate you listening. Hey, I'm watching the volume on the ES and the NQ futures today with this price action coming down. It looks light to me. Do you think that we're currently in or what do you think about that? No, I think that... I was really expecting this today when I looked at the market this morning, okay? So what the question is, I believe, folks, is this. My logic position is that we are in ABC's structure on the way down. The shot of position is that I think we're going to hit the lows of the first downdraft, which is 295-20. And the way this is setting up today, Derek, yeah, you're pulling back with light volume, so this is going to be deviant enough that I suspect next week you're going to go higher. And that wouldn't negate an ABC structure on the way down, because what would end up happening is that your larger picture is that you add down with volume big time, do you know what I'm saying? And then it would really depend on the aspect of how, if I'm right, that we do go higher next week, how do we go higher? Does it contract again, do you know what I'm saying? So essentially it's kind of like latency kind of period, you never really know when it's going to come down. That's correct. But if we get an acceleration of volume today and we get back down near the low, go ahead. Does that change the ABCB pattern at all? What it would do is this, if we got another test, this is a great question, by the way, if we got another test, let's say this thing came rocketing down right, and came into the lows that were, even the highs and lows in here that Wednesday, that would be saying to me that then you'd have a shot to go all the way back to the highs. And the reason I'm saying that is this, when you come down this fast, you do a little bounce, and if you come down again and again, the selling gets exhausted, like the stops are out of the way, people that have got out of the market normally get out of the market and they say, hey, I'm going to stay in the market. So normally you get a much larger bounce like if I just go over to the cues for a second that the composite was so strong yesterday, I'm looking at that composite and saying to myself, you know what, that composite can get to the highs, and that would be really deviant. And so, you know, the market's always deviant, so I try to think about what is the most deviant move the market can really make? We know you do. It kind of feels like at some point last summer, I don't remember if it was June or July, but we looked like we were going to go down, then all of a sudden the volume on the downside just completely got shut off, and then we went back to the high and then boom, October came right back down. Yeah, no, it's game. The cool thing is is that this is when you can learn a huge amount about the markets in general, folks, because what happens is that you have to, you know, technically I think people can teach this, but you have to see them. Sure. You know what I mean? You see the cycles, like, oh my god, I can't believe that. They say you can't teach you experience, right? Yeah, I think you have to experience the pain a few times. Yeah, and it's not even the pain. I would say it's that you have to see it, whether it's going up or going down. You see motions of everything. Yeah, you know, so then you realize that, you know, at a certain point, you know, you just kind of like say, okay, this is what I think is going to happen, and then when it comes into play, I say, okay, I look at it always energy up and energy down, and if it goes too far, too fast, either way, then, guess what? It's going to change, you know? Sure. Yeah. Well, let's use a tweet. No, I'm sorry. Well, no, this is what's so cool about it. No, there's no doubt. You know, currency manipulator, that's the first time since 94. When you come into the marketplace, I mean, into the weekend, there's a lot of dynamics that can and might take, is that it will take place. It's going to be how does the market react to it, you know what I mean? But I think I would say we're going to get a lot more information. I think that's why I brought up those banks, Derek. I think the banks are going to be the ones that actually give us a tell that is this market, you know, going to go a lot lower, because that was a big heads-up, man, and what I've found is this, most times the banks move last, not first, you know, like when you get a big downdraft, normally the banks hold up, hold up, and then they move, so that was really surprising that the banks really sold off so quick, you know? There'll be some sector that goes down and goes after that first the June swing low and then the last December swing low and all we have to know is what sector is that, and then you're going to have a much better understanding that, okay, this thing, this is where it wants to lay out, so. Sure. It'll be wild, man. I think I have a great one and a safe one, man. Thanks for calling, Derek. You too. Yeah, it's going to be... Beautiful Wyoming he's going from. Oh, I know. I know I've done that, but I see those pictures, man. I want to get my horse and ride on it. That's right. That's what I'm thinking, totally. Yahoo! Mountain Dew! It's Friday, all right. Oh, my God. Look at this gold contract going all over the place. We're up $5 now, we're only up $2.30. Yeah. The price of gold when the market is now... Yeah, and folks, this is what's awesome. So for all us gold bulls out here, right? You're a bull? Yes. What we needed, this is so good, because so when Tommy and I were there yesterday, we couldn't take our man, Tom from Plymouth, but then guess what? He gave Steve Rhodes an e-mail. Okay. Okay, in the afternoon show, and that was great because he was asking about dust. We needed that. And then Larry's guest this morning, he's a great guy, man. But guess what? He was shot in gold, too. And I love that. I said, oh, thank you, God. That's what I needed, you know? Because you need... You've got to explain that one. Oh, because you can't... Because you need... You want Contrarian views? Yes, because when you're a bull, you need people to have bearish views, particularly in the metals market. In the metals market, it's crucial. And the reason I'm bringing it up is we know if we get too many positive gold calls, that's a shot-term top. Sure. No, I agree. You know, it's pretty wild. It works, you know what I mean? Same thing happens with the market, right? When everybody's talking about, what are you buying in the market? That's the old-tale story, right? And so this is great, because one of the targets out there gave me an e-mail, first thing this morning. This is great. I think it was Bill. I forget who it was, but anyway, thanks for the e-mail. You know what I have? The first thing, he gives me an e-mail, right? Tom, they're talking about gold on the Bloomberg and CNBC. Tell them to quit it, right? No, that's what you're saying. Exactly, exactly. That's funny. Oh, my God. That's what they are. And they're going to be talking about it for a while. I had a friend jump in, you know, our group chat, something. We talk about the market. You can't help but be like, oh, good day for stocks. Even in your group chat, keeping things light, right? What about gold? What's gold? And I said, man, I think it just hit six of your highs. You better be careful. I mean, right? That's where you have, you know, friends that aren't in the market, that are successful in their own business, but they say, oh, hey, what about gold? I heard gold's moving. Well, yeah, it just moved from 1150 to 1500. Yeah, exactly. You know, and that's... Yeah, watch, because you can see, this has been quite a move. Three months ago, right? 1272. That could up a little bit more. Oh, yeah, I think it was 1,052 or something, right? That's it. I want to get down 11... 1161, 11... Yeah, 1161. About a year ago. That's a return. Stay right there, folks. Tommy and I are coming right back. We have the Dao industrials right now. They are trading down 177. Now it's up 83. S&P's up 24. Come right back. I'm certain you are or strive to be one of the best of the best at everything you do in life. It's the most common trade that we tigers and tigers share. If you're looking to become the best of the best when it comes to managing your money, let me teach you to do what most wealth managers tell you can't be done, which is how to time the markets. I'm Steve Rhodes, author of Mastering Probability, and for the last 12 months, Timer Digest has been tracking my newsletter signals which have earned me the ranking as their number one market timer for the last 12, 6, and 3 months. Timer Digest also ranks me as the number one market timer for gold as well. The fact is, markets can be timed, and I'll teach you the exact set of tools that I use that has transformed me into one of the best at what I do. Sign up for Mastering Probability today by clicking on the newsletter tab on the homepage of tfn.com and get immediate access to workshops where I take you step by step how to use an extraordinary set of tools as well as provide great market calls too. Sign up today. I'm Steve Rhodes, author of Mastering Probability, and for the last 12 months, Timer Digest has been tracking my newsletter signals which have earned me the ranking as well. I'm Steve Rhodes, author of Mastering Probability, and for the last 12 months, Timer Digest has been tracking my newsletter signals which have earned me the ranking as well. Sign up today. I'm Steve Rhodes, author of Mastering Probability, and for the last 12 months, Timer Digest has been tracking my newsletter signals which have earned me the ranking as well. I'm Steve Rhodes, author of Mastering Probability, and for the last 12 months, Timer Digest has been tracking my newsletter signals which have earned me the ranking as well. Sign up today. I'm Steve Rhodes, author of Mastering Probability, and for the last 12 months, Timer Digest has been tracking my newsletter signals which have earned me the ranking as well. 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. Welcome back, folks. That was that. That was that 165 Nazics S76, S&Ps of 23. I know we're talking about gold, folks. If you want to check out the gold report, really easy to do, just come over to our website at tfnn. Hit the gold report. You can hit Subscribe. You can hit the bell button. You can hit the gold report. You can hit Subscribe. Bottom line is that you are off to the races. $97 per month. You get six months for $4.99. You get a year for $7.85. Yeah, $4.49 on that six month. But great deals, man. And this is the time to do it. You get access to the archives. You actually have a webinar there. We're just talking about it. You might be doing another webinar here in the mix for subscribers. I don't want to talk about this one now. Sunday breaking down all those charts, all the equities. The cool thing is, inside the metals market in general, is that you have the metals, but then you have the bonds, and you have the dollar. So I really like the aspect of, because what are all of them doing? Are they all related? Yeah. What none of us have figured out yet is how to negative rates affect. Every time we talk about it, my eyes go up. It's like the child in class that's like, oh, I don't know the answer to this one. Let me think about it. Because your brain does have to take a moment. We're going to get like a math whiz or something. If this happens, this happens. If your brain's going, okay, it's a negative rate, it's just like you said in the mortgage. I was like, wait, I know what my mortgage looks like. It's great. One of the Tigers gave us the example. Let's go through that example quick. He put it up there. This is great, man. It was a million dollar mortgage and I think he put it up for ten years or something. If you pay it back, you pay back $995,000. There we go. Is that it? There you go, $995,000. $995,000, half a percent. Ten years. How about that? I like that. Stay right there, folks. We'll be back next week. This afternoon. Thanks, folks. Go get them, folks.