 The following is a presentation of TFNN. The TFNN Bull Bear Training Hour. Every training day, live at 10 a.m. Eastern. Call now. Tolls free at 877-927-6648 or internationally at 727-873-7618. The TFNN Bull Bear Training Hour. Now, Tommy and Tommy O'Brien. Welcome, folks. Appreciate your growl and improbable to sell it here. We have the Dow Industries up 11. Now it's like up 32. S&P's up 5 and 1 half. Gold. Gold's flat, $14.98 an ounce. We have silver down 9 cents, $18.08 an ounce. Light sweet crude, up 29 cents, $57.69 a barrel. Notes and bonds. You get the 10-year down 8 ticks, $1.29, $29.30 a year off 22 at 1.60, 25. Now, what's going to get interesting there is that you did have volume on the way down yesterday in that note and bond market. Now, it was still lighter volume we were going against. It looks this morning. We'll pull it up and we'll get going here. It looked this morning about an hour ago that the volume was contracting dramatically, though. King dollar. King dollar, $368 ticks trading at 98, 225. The euro is at 109. The yen is at 107.74. And the pound is at 123 to 1 US dollar. Let's get over and take a look at these small caps. The news, Kevin was talking about it yesterday. We were talking about the rotation out here. Yes. And it's pretty dramatic. There was an article last night that this hasn't happened. The amount of move inside the small caps yesterday, starting what was it yesterday? Monday? No, starting Monday. Probably, you can see the movement as in Monday, zoom in today and go for it. Monday, and then yesterday. This is about the most dramatic move in a rotation that the market has seen in like 10 years. And this guy, I believe it was a guy from Morgan's family that was coming out when he was talking about it. And what he was saying, or maybe JP Morgan, what he was saying is that he thinks it's only the beginning of it. That they're selling the momentum stocks, and they're finally looking to go after value. So we'll see how that shakes out. Because yesterday, the Russell was, man, up mammoth numbers. And the rest of the indices were pretty close to around flat on the end of the day. Exactly. So if we go take a look at this, what you're going to see is that now the IWM granted, it's high as a year ago, July. So this is not the best thing in the world. But the bottom line is that look at that volume, this thing, 29 million shares. Now you're going against 38. But that's still not bad when you're basically getting into a supply line, you get that kind of volume. That's a big number. If we take a look at the NDX100, you take a look at the NDX. Bottom line is that it just doesn't have it. You don't see that type of expansion. Yesterday we actually went low with 23 million. We'll see how this handles it today. So that's going to get really interesting how that whole thing shakes out. You do have the rotation happening. Real question is going to be, do you get the rotation and then they all go south. Notes, now this is pretty cool. OK, so this is something you really want to wrap your head around. So we're in the Z contract. This is the 10 year. And what you're going to see is that we had a big expansion of volume yesterday. I mean, that's 2 million contracts. Now when I bring up the contract that we just rolled from, you're going to see that we're going to get 2 million, so it's still less. But any time that you do see an expansion like that, it's like, OK, we have sellers, yeah, they sell us. The real question is going to be, the low of yesterday was 129, 26. So we got below that today. And are you going to get the 2 million contracts? We'll see. It's still early and it's 883 right now. Which is some contract volumes, no doubt about that. We work. Yeah, you were talking about we work this morning upstairs before we came on the program. And this is pretty intense, folks, OK? So there's a couple of really good stories out here. The first one we could put, the Founders Fortune plunges. Yeah, I don't have too much sympathy for him. I'm sure he's still going to be doing just fine. He is. He's now, now they figure he's at 3 billion, you know. Where are you? Go ahead, because I see 14. OK, so that's 65 billion. They're talking about the gold. That would have pegged him. OK, then let's just go through it. So what had happened, folks, now this is really intriguing. So whether it's, I'm not sure whether it's two months ago, Goldman had pegged this when they were pushing out that they'd have to get 65 billion as an IPO. That would have pegged him at 14 billion just on that part of it. OK, for this 22% stake, cool. And that would have put him into the top 150 richest people in the world. Pretty remarkable. But never good to start a sentence with bonds. It's going to be more modest. Still, 22% of the company just do some good sites. And then there's the next one. It's going to be at as low as 15 billion now. That would leave Newman with a stake of 3 billion. I don't have too much sympathy. And that's where we talked about these stories yesterday, where he tried to capitalize on the rights to the patent or for we for $5.9 million. So he's just nickel and diming to him. And so he's like, oh, don't worry. I'm going to give that 5.9 million back because maybe there's some worry that I shouldn't have done that. And there's great worry. Yeah, listen to that stuff because that means nothing. What else is going on? And that's why maybe as low as 15 billion corporate governance problems, no profit. Now, what's really cool in here, folks, and this is where we were kind of talking about this yesterday, as you just said about governance in general, and what you can push paper out at. So picture this. This came out last night when I was on the air. Regulatory filings show that one of the earliest investors was Fidele investment. They cut their valuation of We Company to 18.3 billion, guess when, folks, in March. So all these banks knew this. But yet they were basically going to push, push, when you read the full story about how they cut it, they cut their own value. Fidelity has gone in twice. Once they were at a very low price, the second time they were at a higher price. There, whoever decides to do that, I'm not sure how that works. Bottom line, the thing that's really, what I really love about that is that Fidel has a great name anyway, OK? Yes, Fidel, for sure. So when you mock to mock it, because if you and me were an investment in one of those funds, which they are, it's kind of neat that they were way ahead of the crowd, and they cut that, because that's what shows up in the statement, folks. That's the bottom line. You get to borrow against that. You can do a lot of funny business when I start. But guess what? It's come to Roost recently, where you can only do that for so long. And so the other side is that you can always raise it when the IPO comes, right? Then it's a huge windfall, as opposed to, if you put it on your books, at even $47 billion, which would be a fair estimate, because that's the last round they raised at. So that's not funny business. No, that's right. They had done both. And that's why most companies would just keep it at the last round of funding, because that is the last time that it was marked to market on a real scenario. But they weren't even comfortable with that, which says a lot. They weren't, you know. And so it's pretty wild when you think about it that it was out there the whole time. And now could you imagine if you were ready to buy into that IPO in another institution? And then all of a sudden, you find out that the bank has been basically saying to you that, hey, this is worth this. And then you find out the fidelity it marked is down to 18. Because they marked a loss. They paid more than that. So they marked it. Crazy. We'll have to talk about it even a little bit more, because it's remarkable that they've raised more than $12 billion. The market might only be worth $15 or $16 billion. And they get into this $5.9 million down here. We talked about it. We'll finish it up after this. Stay right there, folks. Tommy and I come 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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Details on The Tiger's Den are on the front page of tfnn.com. TFNN has launched our brand new website. You can still visit us at the same tfnn.com URL but when you do you'll see a new and improved homepage with a much simpler navigation whether you're watching Tiger TV live in high definition or just accessing your newsletter subscriptions. We even have new pricing in six months and yearly options. Check out the new tfnn.com now and experience all the upgrades. TFNN.com educating investors. Call now. Toll free at 1-877-927-6648 internationally at 727-873-7618. Welcome back folks. Now it's up 33, Nasdaq's up 44, S&P's up seven and a half. Gold's up three bucks. We'll see if that's the size to catch a bid. You get the notes and bonds. You get the 10 to eight on five ticks, the 30 off 16. So it's gonna be a big day out here in the notes and bonds when we were just showing you the amount of volume that we had yesterday. You know, we've tested that low out here now. If we can get lighter volume, we get a rejection of price. Okay. That would be like, okay, man, we get action. Speaking of action, let's finish up that conversation because I couldn't help just keep digging into this article. So there's a number of things here. So since it's founding, we company has raised more than $12 billion. It might only be worth 15 or 17. So they're gonna have as much, you know, it's amazing that you can raise $12 billion. I mean, I could raise $12 billion and guess what I'd be worth? $12 billion because I'd have $12 billion sitting in my bank, you know, that's raised. Unless you're buying things and getting lost, which they have. Right, right, right. Yeah, you can always have debt. But I'm just saying you could raise $12 billion if people would buy equity in your company for $12 billion, well, then you'd have $12 billion sitting in the bank. And that's what the company's worth. $12 billion. That's good. Right, right. It's like, it's amazing. So they, and this is where I started to talk about it. So one of the things the company, formerly known as WeWork, bought its current name from the two founders, Newman and McKelvey for $5.9 million. So now it's called We Company. Okay, so imagine. And they were on the floor. We're TFNN. Imagine we're TFNN and we're like, we're gonna change the name to TF. Right. Well, guess what? We're known TF though. I didn't mean he was selling it. And we'll sell it to TFNN for $6 million. You can have the name TF. That's basically what they did, folks. Pretty remarkable. And they got caught doing it. And so they said, ah, we'll unwind that. We'll wind that back. We'll give the $6 million. Yeah, that's worrisome because they don't care about $6 million. Okay, they care about $6 billion. And that's where it gets down to the next line. Okay, so that they talk about several arrangements around scrutiny. Newman maintains voting control, three class share structure, that a little bit in its own right. You should be skeptical when you're buying equity in a company and you don't have voting shares. And then you really get down that the firm rents space in four buildings. Got it, did I miss one? Yeah. Oh, I did, the last part of it. And in that, he's been criticized as borrowing the firm's money, leasing properties he owns back to the company and selling chunks of entity equity before the IPO. Sure. Great CEOs that truly believe in the future value of their company. Like Zuckerberg, to his credit, he was not dumping shares ahead of their IPO. Now he has his own problem with corporate governance Zuckerberg. But then, so here, the firm rent space in four buildings owned by Newman, according to the, or according to the prospectus, this isn't just, you know, speculation. It signed a lease on three of them the day he obtained the stake and committed to being a tenant in them within the next year. So he buys a building hours later. He has, we company, signed the lease that they're gonna be a tenant. And if he's borrowing money from the company to buy the building to get the lease. I mean, just, you know, and then add on top of that, it's one thing if you're plowing into profits, okay? No, they're plowing into losses with the CEO being totally conflicted with investor money. And then, I mean, this deal with selling that, you know, that's outright robbery. That's basically stealing $6 million from investors, in my opinion, where you say, you know, we're gonna change the name and you gotta pay the CEO $6 million to change the name. That should be criminal. They need a little walk in the hall money. It should be criminal, man, it should. So yeah, they unwound that. Nonetheless, man, we'll see how it shakes out. I think it's gonna continue to be some headlines for sure. So we get oil too, right? We sure do, man. It is Wednesday. Let's pull this up. We're gonna get that oil out. And that oil market's been moving, man. It sure is. And for some reason, this isn't letting me. We'll have to jump back to it because you've seen that. We'll refresh it maybe, my screen. Let's see, we're refreshing the screen right now. There we go, we're gonna get it. Okay, we'll pull over the terminal up here. We'll close out some of these screens. And it is 10.22 right now. We're gonna jump into commodities. We're gonna look at crude oil. Talk about a market with some volatility recently. We're gonna see $60 oil, man. 160 dollar oil. We've been closed. And I almost hit it yesterday. It did. We'll back it up again. Now you were ahead of it, right? No, it's Tuesday. We were up to 58.75. I mean, talk about within almost a dollar and a dollar in oil. We then, we go from 10.45 yesterday morning, about 24 hours ago, and you drop more than a buck 50 by the time 230 rolls around. And then we're back up to above 58. So you got oil trading, 57.65. We're looking at the October contract. Again, we're coming into those 10.30 EIA numbers. Let's take a quick look at 11 a.m. What kind of volatility? We're gonna have priced into these options. So we're gonna have 57.25 or $58 is our ability at 11 a.m. Kinda equidistant away from those. We're looking at about 30 to 35 cents away. Now again, if you're just looking directionally, that's where it's actually a nice sweets box. You're not paying a ton of premium. Let's just say you're bullish. And we've got a lot of movement in that market. Definitely. And this is where you're only eight pennies away from market. Now seven pennies away from market, you're buying a 57.73 and you're basically getting a two to one risk reward where your losses are capped to 57.25. You have almost a full dollar to the upside. And for that risk reward, that's where you just have to make, you know, decide for yourself. You're buying it at 57.75. The real market's at 57.68. You're buying it at seven pennies above the market. Not a bad trade with the earnings about to come, though, in my opinion. And the same thing would set up on the other side, which is not bad. But let's see where we line up on the noons. Okay, noons are gonna have 57.75. That's a lot closer, right? That's about seven eight pennies. So there would be your bullish spread. Now this is where, again, the last trade we looked at was only about seven pennies away from the market, right? This is why now the risk reward is gonna be a staggering more like five to one, six to one. But by doing that, you're also paying 30 cents above premium. And that's where it really gets tough, right? The last trade, much closer to a futures trade, you're only paying seven pennies above market for a two to one. You wanna be risking 20 to make 130. Well, you're gonna be paying 30 cents or so forth above the market, right? Because that's how they correlate. So here's your bullish. And as we're saying it, it's ticking up right to that 57.75, which would be nice because then would have no intrinsic value on either side, would just be paying premium. And it's gonna be a little pricey as you might expect, right? So we're at 57.72, call it the bullish spread, costing us 23, the bearish spread, which is the one with about four pennies of intrinsic value, 27, 50 bucks on the dot. So you would need 50 cents of movement away from 57.75, which is almost where we're at right now. In either direction, that's the key part, right? You get 50 cents of movement in either direction, you break even, a 50 cents, you know? It's a little movement from both sides. It's, and as it makes it. By noon, too. By noon, correct? And there's, before, I just wanted to see the 230s as if they line up at all. So 58 would be our only option for the dailies, which is about 30 cents or more. And so we're dealing with October. Oh, so this is interesting. Look at this. I mean, you got up there with volume yesterday, you know, 765,000. It was a big day. We shot up there and then like I said, by 230, you were back down to 57 and change. Yeah. So, you know, most times what tends to happen here is that, oh, look at that, then another one bites the dust, that's. Well, you know what that was, right? Yeah, that's what's when Bolton bit the dust, exactly. So what I'm talking about, folks, is when the dust there, what you had is that you had oil shot down from 58.41 down to 57.30. A buck 10 in no time. And then the volume down there. Yeah. And then it was interesting though, by the end of the day, look at that. Oh, I know. The market said, you know what, man, Bolton wasn't probably the one that we should be afraid of in terms of foreign policy, if that's really what you're worried about in terms of, you know, the president, he decides a lot, as any president does, but so. Yeah. So, you know what, I'd go that the others can get tested again. It didn't get tested. It came down there in the middle of, no, no, that's 240, came down to 240. Yeah. I'd still go that we're gonna gotta go a little lower. We'll see where this shakes out. Okay. We got those numbers. 877-927-6648. We have the year down. Industrial's right down. I'm 34 and as like up 43. S&P's up eight. Stare at that folks. Tommy and I come right back. Hi folks. Tom O'Brien here. If you'd like to get my daily newsletter and market insights, then now is a great time to sign up for a 30 day free trial. Every morning by 9.30, I send out my morning letter to subscribers with market commentary on a variety of markets, currencies and commodities to keep investors up to date on the day's trading action. Included in market insights are specific buy and sell recommendations for stocks, ETFs and even options, which stops and price targets included for every trade in my newsletter. 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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, 6.91 drawdown. And the crude gasoline, 682,000 barrels. And they were looking for, well, Bloomberg is looking for 5.15. But yesterday, that API, that number is big, right? That was number seven. Yes, seven plus million. So we get the EIA numbers, 10.30 a.m. Eastern time on Wednesdays. Crude oil inventories falling 6.91 million barrels to see how that hits the market, jumping back to the charts. And as you would expect, little pop. We were trading at 57.75, coming into that number, right? We're up about 13 pennies. But look at that volatility. We actually spiked to 57.42. It's a five-minute bar there. And looking at both of these contracts, your value would be on the bullish side, of course, now. And that's where you can see. You're actually only 25. You need more movement, right? Yes. We're looking for 50 cents for break-even on both sides. Right. So you're talking about 57.75. If you were trading this, you needed up to 58.25. But that number, man, declined falling 6.91 million barrels. And like you said, gas inventory is falling as well, 682,000. And the Bloomberg User Survey, they were looking for a stockpile decline of just 5.15. But if you back things up, the survey number was only a decline of about 3 million. And scrolling through this quickly to get to that API, as you talked about, 7.23 falling last night for the API. So maybe we're using some oil, man, after that summer break. Yeah. They're not pumping enough of it. That's right. One or the other. Yeah. One or the other. Exactly. Yeah. Let's go take a look at the strength versus the weakness inside the dowel first. The dowel doesn't have much action out here today. Let's see what's putting a hammer on it. Okay. Good old Apple. Apple? That's up 1.6. And Boeing always. Yeah. So you got Boeing putting 31 positive points, Apple 23, Caterpillar 10, taking away from it, United Health minus 22, Travelers 9, JP Morgan 4, Visa 3. Nothing big, really. No. Okay. Do you see this morning that it looks like Bank of America is going to be for the Saudi Aramco IPO, the underwriter, which was kind of quite a revelation. There you go. Where was it? Right there. Yeah. It's in red. Yeah. So that was... Said to pick. That's pretty amazing. Oh, it is amazing in terms of they are not, you know, a big investment bankhouse to be leading IPOs. Right. And the speculation. I see they're going to join Goldman, JP Morgan. Yeah. They'll be in there. But they're going to be on the top bank of America. And the speculation was that it's such a big IPO that they probably came in at a cheaper cost. And it's such a mammoth number that when you start talking about percentages on the Saudi Aramco IPO that they probably said, hey, you know what? For the type of percentages we're talking about on the billions and billions of dollars we're going to come in at, it might make sense to go for the cheaper alternative. Yeah. And we'll see if they get what they pay for. But the other noteworthy history here is that even choosing the big boys, man, lift Uber. Oh, yeah. We work. They're not getting it done when it's a bad deal. Right. You know, they can't prop up something. So their track record for charging premium pricing, which the top banks would. Sure. Maybe it's not worth it. Oh, that's... That's probably the conversation they went through. And they decided to go for Bank of America in the top building. They're going to be popping some bottles over at Bank of America this morning. My God. Saudi Aramco IPO. Not a bad sale to close. So we take a look at the NDX100. The strength versus the weakness. You've got C-Trip out here. That's interesting. That's up 6.3 percent. Illumina is up 3.7. Tesla 3.5. Bacata Libre 3.4. Taken away from it. Wynn down 2.5. Alexian down 2.4. Monster down 1.8. No big deal. Yeah. Let me go over there. What's happened with Tesla? Yeah. Well... Maybe they're excited that Apple didn't announce an Apple car at their road show yesterday. Yeah. I kid, but... That's not much news. But the bottom line is that this is a highly volatile stock anyway. That's what you come down to. We take a look at some of the higher volume equities out here. And you got... Look at the Bank of America is even down with that news. That's interesting. Yeah, right. Down 23 cents. You got Micron Tech up a buck. 15. This baby is getting smoked. This is a... What are we talking about here? Yeah. Zscaler, huh? Zscaler. So this is a cloud security-based company. Okay. Internet security platform. Yeah. And you're going to see that this is, you know... Six billion dollar company even at this evaluate. Right. This price. Man, we were just at 90 bucks. Yeah. What happened? This is a new IPO too. Let me see how new it is. Okay. Let's see. Yeah. March 15th of 2018, it's $16. You know, they ran these things up in a big way. The tough thing is, man, if you're in margin at 90 bucks, you just lost 100% of your value. Oh, intense. And you can be at margin when you're talking about a year and a half ago IPO. Oh, for sure. You know, that's for sure. For sure. So, big earnings per share, miss. There you go. Yeah. Can we just click maybe and see if they... There you go. Good. So, they come in at earnings per share. For the fiscal year, 12 to 15, they were looking for 20. Earnings for this quarter, 0 to 1 cent. Maybe that's next quarter. Estimate 2.4 cents. Yeah. So, they might not even be profitable. Revenue, pretty close to in line. I guess 89 to 90. The estimate was 87.8. And... But fiscal year, not pretty close. 395 to 405. Estimates 402. Yeah. It seems like... The fourth quarter is probably what they just reported. They actually had earnings of 7 versus a loss of maybe 1 cent. No, that's... A year over year. Yeah. But estimate 1 cent lost too. So, the quarter is all right. But this is the number. That's the number. Yeah. And the number we're saying there is that the estimate folks for the adjusted earnings per share for 2020 was 20 cents. Now they're 12 to 15. Because they're hammering this thing. Yeah. The last thing you want to see is, you know, saying not even this year. Next year, we're in a lot more trouble than we thought. It's basically what they said. Yeah. Yeah. And, of course, the market... If you're in the public market, you better be growing. You either grow or die. Yes. I just said, that's... How about, let's jump to Disney. Because I'm going to follow on the Apple Heels in terms of Disney and the acting yesterday to the idea of Apple coming up. Five bucks, right? 499, man. Quite a price tag. If there's any value to their content, and that'll be the real question, right? Right. But, man, if there's any value to their content, 499 is worth it. And you're undercut the giant in the room, which is Netflix and Disney. Yeah. So, we'll see how that plays out. Netflix... So, Disney... That pulled by. It looks like it's going to... Wow. We'll see. 138 to 134.58. And what's remarkable is that big jump in the... In this chart was the day that they announced their pricing for their content, which I believe was $6 or $7. Same thing, undercutting Netflix. Market loved it, right? Shot from about 117 up to 142 in a heartbeat. And we're now under that at 135. And Netflix really took a beating. Yeah, because they have their own wars. You know, Disney, man. Disney's not going anywhere, right? No matter what. Exactly. Netflix went from 297 to 282.63. Pretty remarkable. We're now up, though. Yeah, 291. I'm comparing some of those losses on Netflix. And... That's down, though, from over 380. Yes. Just in July. Right. Yeah, it's that... You know, we know that, you know, the interest rate structure keeps going down. Is the pricing model going to keep going down dramatically even on the streaming? I mean, that's what it almost seems like. Yeah. It's like, oh, like, who's going to get... I mean, remember, if we were talking about last year, we thought Netflix was a great deal at 11 bucks. Yeah. Right? Yeah. And now all of a sudden it's like, oh, you know... I mean, Apple, they, you know, Apple doesn't need to make money on that, though. Right? I mean, that's where you get into weird aspects. Oh, absolutely. And I'm sure they actually don't plan on... The same with Amazon. They don't plan on making money at $4.99. Right. They just plan on keeping you in their ecosystem. Right. And then what? You're subscribing to iCloud memory in Apple. Exactly. You're subscribing to other apps in Apple, the health app, whatever it is. Yeah. Yeah. Stay right there, folks. We got our men, Mr. Teddy Cakes, that coming back. We are going to be talking currencies. Come right back. That's interesting. Okay. 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An investor should consider the investment objectives, risks, charges, and expenses of the Direction Chairs carefully before investing. The Prospectus and Summary Prospectus contain this and other information about Direction Chairs. In the Prospectus or Summary Prospectus, please contact Direction Chairs at 866-476-7523. The Prospectus or 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. Don't forget, you can listen to TFNN live on your mobile device 24 hours per day. Go to TFNN.com, then hit Watch Tiger TV. That's TFNN.com, then hit Watch Tiger TV for the latest market information. Back folks, Dow. Dow's up 31. That's next up 43. S&P's up 8.5. Let's look at that oil contract. Yeah, the good little action. We go into it again, jumping over, and man, you wait a moment. That is a shocker. Look at that. We're getting at $57.75 almost. When we came into that number, we saw the initial spike. We saw a drawdown of more than the market was looking for, and man, it doesn't matter. Oil trading lower $57.37 right now in the price of that October crude oil. That says a lot. It sure does, man. That says a lot. No two ways about that. We'll see whether that high volume low is going to get hit. Let's go over to our man, Mr. Teddy Kegstad, as we do each and every Wednesday. If you want to know the currency market upside down, folks, every trading day, you can check out Teddy at forex-trading-unlocked.com. That's forex-trading-unlocked.com. Teddy Kegstad, what's going on, brother? Oh, it's a beautiful day in Chicago. We actually have warm weather in September. It's a treat. Oh, that's good, man. Yeah, well... We'll try and send you some of our warm weather to keep it going. We've got plenty of warm weather, man. We'll send it your way. We were just looking at our weather, actually, and it says it's going to be a high of 85 degrees on Saturday, and we both said, I feel like that's going to be storms and clouds because in Florida, we don't get high as at 85 unless in September we do, but we got to enjoy it. I'm just glad you guys are in one piece. You guys survived the hurricane. Yeah, we're in the West Coast. We're really lucky. All of Florida are really lucky, man, in general, so thankfully for sure. That was a... They get dicey, and also in September we're keeping our fingers crossed, man, totally. So what are we looking at? Well, we can talk. We'll start talking about the U.K. first, or do you want to go to Asia first? Let's talk about that, man. We never get enough of breakfast. No, it's interesting. Let's go. What have we got going on? Okay. Well, in the past couple days, now we know that Boris did the preroguing and what have you, and I've done some research, and there's a lot of rumblings about them trying to actually oust Boris Johnson. I don't know how they can do this. I'm not familiar with how parliament doesn't, doesn't work, and English politics work, over the past couple days, there's an initiative to find out how quickly they can have Boris Johnson removed as the prime minister. If that was to occur, then we know that, well, obviously there's not going to be a Brexit deal come October 31st. That would be the extensionists would get that, and also the people who are trying to maintain keeping the U.K. as part of the EU and breaking the Brexit deal. So that's a big issue that's on the table. Right now, obviously he's suspended parliament, and he's going full throttle towards a no-deal Brexit. We've had a lot of issues over the past two days with U.S. companies trying to figure out where do they fall, and if a Brexit does happen or if it doesn't happen. And like we've talked about before, like we pretty much all agree, just like the businesses do that whichever way they go, why does business and trade have to be disrupted in the short run? Why can't they just continue as business as usual and hash it out over time instead of trying to do what they're doing right now? So that's a big deal. So I think that you can notice that in the British pound, and it's going to start to surface over the next couple of days, where right now it's going to be sideways. And then how we head out of that news, I think we'll set the new trend for the pound. It's pretty remarkable that we might get another delay. That's almost the one thing that I was going to bet on as we came into this, right, that this was going to be the hard one, that no delay took place. And it's looking a lot more like that might be a possibility, which I should have known. Come on, what was I born yesterday not paying attention? Another delay, of course. Well, and the big deal is that the problem is not doing their job. That's the other side of it. We know politics is politics, but that's the real bottom line. It's got to be a frustrating experience as a voter over there. So, Teddy, this pound, I can see that it's not in the range yet, meaning where it broke down from. And I guess so this is kind of a dicey place for it is, right? I mean, it can kind of get there, but guess what? If it doesn't get in that range, that lowest game again, probably, right? Right. So, see, here's the way I look at it. Over the past, remember a couple of weeks ago, we had this little turning point where the currencies that were against the dollar that had been trending and also the divergent currencies, all of a sudden we had reversals that came in a couple of weeks ago. So, we've had the pound that's rallied against the dollar for a few weeks and we thought that Boris was actually setting the motion towards really having a Brexit on October 31st. Now, if you look at the pound versus the yen, the pound has been strong against all the currencies over the past few weeks, especially the euro, okay? Now, we're coming into this little question mark of whether they can remove Boris or not or put a stop to him. And I think that that's going to set the pound versus the dollar for a short-term break, you know, as far as in momentum, not necessarily a break, meaning a slide, but just as far as directionally, I think it's going to be sideways. What you need to look at is the pound versus the yen. Okay. That looks like it's starting to run out of the gas, like it was a correction. Now, here's the thing is, the pound has been strong against the yen, the Aussie's been strong against the yen, the dollar's been strong against the yen, and then so is also the Swiss. So, now, when you look at this, they're all starting to run out of gas. Now, the yen had been in a strong trend against the dollar for months, just like the Swiss. It was the one divergent currency. Yes. And that's a couple of weeks. It hasn't been. Now, it's starting to look like the yen bearers may run out of gas. So, that means if the yen bulls come back, the pound's going to slide against the yen. The other currencies slide against the yen, which also means the dollar's strength is not what's going on in the market. It's other major currencies that, it's their strength and weakness that's dictating things. And if that's the case, the pound's going nowhere. It's not going to be on a big break, and it's definitely not going to rally. So, we're looking at a big sideways nature there, and I think same with the EU. So, if you have any currency traders that are out there to trade against the dollar with major crosses, I think you're looking at a big sideways reaction that's going to happen for the next couple of weeks, and you really have to look at more of the exotic crosses. Like, if you're a US dollar yen trader, if you want to know direction, look at how it's going against the pound, look at how it's doing against the Aussie, look at how it's doing against the Swiss. If you see weakness there in the dollar and yen strength, then that's probably where you'll see it with the US dollar yen cross. And I think the same's going to happen with the pound as well, because the pound has been trending stronger against all these currencies for two, three weeks, now is probably a time where, if it's a correction, then the correction is coming to an end. And if it's actually going to be the beginning of a true trend, we're looking at a time for a pause anyhow. So I think that's what we're looking at for the next week or two. I love this education. Oh, I love it. I know. We just had the chart of that pound yen, and it is, man. And then, because Teddy, what happens is that I follow the yen real closely, but I follow it, you got the only reason, but when the yen is strong, gold is strong like beyond belief, man. Do you know what I mean? The yen moves, and so like when Tommy had just brought up, when he was speaking, we brought up those crosses, and I can see what you're saying, that they are running out of gas, man. Do you know what I mean? Well, they look they are, you know what I mean? Right, so now that would support your goal rally. So if this does turn the yen, we're looking at another extent to move higher for gold. Right, exactly. No. And that's what I'm looking for, because what gold has done, it's pulled back into a breakout area with dramatically lighter volume. I mean, dramatically lighter volume. So it's like, okay. And then, I mean- It was at the BOJ that did not do anything. Remember when the BOJ met a few days ago and last week, there was all these rumblings that all of a sudden Japan's going to start becoming hawkish and what have you and whatever. That's not happening. Right. It's just not happening. Right. You know, and I think that this is going to be, it's going to manifest itself for as far as where's flight to quality in the short run with the trade deals. I mean, I think that this little inflection point has occurred because it's the stuff that the talks with China have been kind of positive, even though nothing's really resulted over the past couple of weeks. Yes. We're heading for it. You think we're going to block it? Yeah. Let's all know it's not happening. Right, totally. Listen, folks, you can check out Teddy every trading day at tradeat4x-trading-unlocked.com. Teddy, you have a great week, safe week. We look forward to speaking the next Wednesday. Thanks, guys. And tell your people to look at me tonight at 10 o'clock Chicago time. I'm on our web homepage. We're going to be streaming to you. Absolutely. 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 in the nation for the S&P 500 for the last 12, six, and three 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 have 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 home page of TFNN.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. If you're a trader in the market looking for exposure to gold or gold mining equities, then now is a perfect time to sign up for Tom O'Brien's Gold Report. The summer is over. Gold is trading back above $1,500, and the 10-year treasury is hovering at around 1.5%. Tom O'Brien has been writing his weekly gold report for almost 18 years. There's no one that knows more about how the gold market trades and how gold mining equities react. New subscribers get a 30-day money-back guarantee so you have nothing to lose. Every Monday morning, Tom publishes his weekly gold report with coverage of gold, silver, bonds, the XAU, HUI, GDX, the dollar, as well as more than 30 different mining equities. As of September 3rd, Gold Report subscribers have five active open positions with an average unrealized profit of almost 38% for each position. To see for yourself the types of profitable trades that are recommended within the Gold Report, sign up today by visiting tfnn.com. Since 1984, Basil Chapman has been using the Chapman Wave methodology to advise traders of his expert market opinion, while originally hand drawing charts from the late 1970s into the 1980s, Basil noticed that prices under most circumstances virtually always had a certain number of legs to the upside before declining sharply. Later, Basil found that computer software, which included the standard market technical indicators, enhanced the degree of accuracy in calling price turns as well as market trend calls. Thus was born the Chapman Wave sequence. Using the Chapman Wave methodology, along with other indicators, Basil Chapman advises his subscribers of his expert market opinion each market day with his opening call newsletter. Right now, you can get a two week free trial to the opening call, Basil's daily trading newsletter, by visiting the front page of tfnn.com. Cancel at any time during that trial and pay absolutely nothing. Get your two week free trial to Basil's newsletter, the opening call 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. Welcome back, folks. Now, it does up 51 now, except 40 SAPs up eight and a half. We have gold up $2.80. And folks, if you haven't checked out the Gold Report, it's a great time to do it. Come over to our website at tfnn.com. You'll see it right on the featured content. I'm gonna be doing a workshop a week from today. That's right, man. It's September 18th, five till 6 p.m. Eastern time. You're gonna be in there for an hour with subscribers to the Gold Report, the title of the webinar you put together. The next leg up in gold is 1794, Find Out Why. So you got the topics you're gonna be talking about here, some of the charts that you've already pulled together that you're gonna be putting together at a preview of the webinar. Pretty cool, man. You were walking me through these as you were putting together that webinar. Gold, quite a market, man. You do talk about it as a small market, but this graph, kinda talking about, man, $110 billion US a day, the gold market. You combine all the S&P stocks. I think you're at about $170 billion. You're looking at the chart here. Pretty remarkable, right? In terms of- It is. And then you get into, this is Japan bonds down here. You got US sterling, and of course, the giant in the room always. Treasures. When we talk about the S&P markets. But mammoth number, $110 billion in terms of average daily trading volume. And then you got, in terms of the returns going in here over since 71, 20 year, 10 year. Gold holding steady, holding steady as well when you're talking about even since the last 20 years. You get into the last 10 years with the way the stock market's performed, of course, because that's only going back to 2009 on gold. And then just versus fiat currencies, man. That one there, if you happen to be in a car and you can't see this chart, folks, this is like insane. And it would make sense in terms of a fiat currency over time does go to zero because inflation is always there. So if you take dollars, you put them under your bed and you leave them there for 100 years, you might as well just light them on fire because they're not gonna be worth anything. If, you know, in an inflation, you have to have it working. So check it out, folks, on the front page, sign up. You of course have a new issue out there on Monday, but they gain access to the archives and this will be archived for subscribers if you cannot attend a live. We get, I think a swim coming up next. The man, Mr. Basil Chapman, Steve Rhodes, Dave White. I'll be back this afternoon. Thanks, pal. Thanks, man. Yeah, go get him, folks.