 The following is a presentation of TFNN. The Tiger Technician Hour with your host, Basil Chapman. Call now. Call free at 1-877-927-6648. Good morning, folks. This is Jacob filling in for Basil. I love that intro so much. It makes me feel like I'm in like a Tarantino movie or something, but it's great. Folks, you can give me a call at 877-927-6648 if you've got any questions. I want to crack in quickly to NVIDIA, right? So yesterday when we were speaking about it, they have the new DPUs that are kind of blowing up. It's going to revolutionize how computers basically process data, take some weight off the CPU, so therefore we get some faster computers. We were talking at it about $297, and it really popped up above the $300 mark. And it now looks like it's approaching $310. We're up almost 3% today at 2.5%. I was reading through some things earlier today, and one of the things I saw was NVIDIA's price to sales ratio. We're sitting at about $30 for NVIDIA. I came across then something of a quote from a CEO of a company called Microsystems, which was sold to Oracle a few years back for about $8 billion. Right after the dot-com bust, it was valued at $200 billion. So this company, again, this is Sun Microsystems. Again, this is now acquired by Oracle, far gone. But they were responsible for developing a programming language called Spark, which is based off Java. These guys did MySQL, which if you're in IT at all, obviously MySQL is huge. Solaris OS and VirtualBox, which is one of Oracle's huge products, is VirtualBox. And so this is what he said with the PS ratio of 10 at this time. He says, at 10 times revenues, to give you in a 10-year payback, I have to pay you 100% of revenues for 10-year straight-in dividends. That assumes I can get that by my shareholders. That assumes I have zero cost of goods sold, which is very hard for a computer company. That assumes zero expenses, which is really hard with 39,000 employees. That assumes I pay no taxes, which is very hard. And that assumes that you pay no taxes on your dividends, which is illegal. And that assumes with zero research and development for the next 10 years that I can maintain the current revenue run rate. Now, having done that, would any of you like to buy my stock at $64? Do you realize how ridiculous those basic assumptions are? You don't need any transparency. You don't need any footnotes. And that is a pretty... I think you could probably apply that to a lot of things going on. Again, the way that the market is now, it seems like we might be in a new paradigm. It has been stress tested significantly. And we still have these stocks kind of performing at this level. But it's just kind of interesting to kind of go back through memory lane. I mean, I don't think I was like five after that time period. So I don't obviously remember it. But just kind of going back and reading what people's thoughts were. And I think it's interesting, at least for just like edification purposes. Moving into sticking with the kind of technology for the time being. Obviously, Tommy spoke about on his show the TikTok ban in Montana. And I certainly believe that is going to extend out. There's a lot of issues with it. You have the risk of foreign nations spying on you, right? Collecting data. But this goes so much further than just TikTok. And so it's interesting that I think TikTok is just on the limelight, right? Like so many people use TikTok. People on there can be so influential in the culture. It's honestly unbelievable. People my age and below. I've never used TikTok. I know what it's like. I've seen some things from it. But people I have who are close to me. New ideas coming in all the time from TikTok. Even if they're not valid, right? Like there's one that's going around. And so many people now are talking about it. And arranging against it. You know, we put fluoride in the water. And there was a TikTok that came out saying that if you boil your water for stuff like tea or whatever, it creates fluorine gas. Which is neurotoxin, blah, blah, blah. This isn't true at all. That's not how you derive fluorine gas. But nonetheless, it spread like wildfire throughout my generation to the extent that I hear it just randomly in conversation, right? Like they'll bring it up. Oh, did you hear this? And it goes beyond just the risk of like fake news. I mean, people can be so influential on TikTok. It doesn't really matter the veracity of their claims or what they're pushing. The name of the game is can I be influential and can I get people to believe what I'm saying, right? Maybe that's how it's always been. And that's kind of part of the human condition. But it's so much... It can spread with so much more ease now. Regarding any kind of threat of kind of data harvesting from basically China, this is in so many of our goods. I was speaking about it, I think, a few months ago. But there's riot games, okay? They release a lot of very popular video games. There's one in particular called Valorant, right? This has, I think, 20 million users worldwide, millions in America. And one of the things you have to do in order to play this game is download one of their anti-cheats. And what that does is it looks at your computer to see what you're running, right? And it stops you from basically cheating in the game. But the problem is, is that anti-cheat downloads into your kernel on the computer, which is the basic level of your computer, the basic level of your operating system. And it can basically affect everything else all the way up in your computer, essentially. So, obviously, that's a massive security concern that you have, you know, how many hundreds of thousands of computers in America just because of Valorant that now have a kernel-level access, or at least companies that are outside of our country have kernel-level access to. This is pretty intense, right? And we even go into stuff which is everyone uses, but it's not in our minds, but it's IOTs, right? The Internet of Things. There was this famous story of, I forget the company, but they were producing vacuums, right? And for whatever reason, your vacuum could connect to the Wi-Fi. And we have this for everything. You have refrigerators that connect to Wi-Fi. Your camera is that you use to watch your house connect to Wi-Fi. This is what's called the Internet of Things, right? And this security researcher discovered that his vacuum cleaner was sending data back to a server in China. Now, what can they do with that? It's unclear. Is it like a massive security flaw and something like a vacuum? Maybe not, but it just goes to show that even something so basic as household cleaning goods are communicating with servers outside of our nation. Very interesting. And I don't think it's spoken about enough, right? Like, if you're going to talk about TikTok, it's important to talk about things like green cameras. Like, do you know where that information is being stored on what server who owns it, right? Like, these are genuine questions, and there's a burgeoning group of people on the Internet who are creating their own servers called HomeLabs and these store all the information for your camera so you can buy cheap ones and kind of set them up to a server you have at home, and therefore you're in total control. Now, that takes away a lot of convenience and so the chances are that a large swath of the population is going to do that is very low. But it's still important to keep in mind when we talk about things like TikTok and data going to places like China, we got to understand that so many things are sending data to servers that we as individuals don't really have control over and could very well be going to places like China. So it's interesting to talk about, I think it's some food for thought I'd recommend just in your personal time looking more into that because it's super interesting, you know, and I think it does have like an impact on us in going forward in the future as well. We'll get back, we'll stay on the China topic, some interesting stuff with some corporate espionage they're doing and then really, you know, how inextricable we are with the Chinese markets. Folks, stay tuned, we'll be right back. Options and equity trades when the markets present them using a combination of fundamentals and technicals. Sign up for Rocket equities and options report today with a 30-day money-back guarantee so you have nothing to risk. For all the details and to start your subscription today, visit the front page of TFNN.com. TFNN, educating investors. You might think that if you want to be successful at trading in the stock market, you're going to need a crystal ball. 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. 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First-time subscribers also get a 30-day money-back guarantee. If you're not satisfied, let us know, and you'll get a full refund within 30 days of signing up. Subscribe to the Fibonacci 24-7 newsletter today. TFNN.com, educating investors. TFNN has launched the Tiger's Den. Hosted at Discord, TFNN has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours, the Tiger's Den. Available to all tigers and tigeresses for just $1 for the year. There's no catch or added costs when you join our community of traders. Sign up today and become a part of this educational community of traders. Just visit the front page of TFNN.com. Oh, toll-free at 1-877-927-6648. Internationally at 727-873-7618. Okay, folks, welcome back. Before I hop back into everything, I want to say just the ad that ran right before we got back. The Tiger's Den, the Discord server, guys, you got to get in it. I'm reading the conversation right now. It's awesome. I learned so much from these guys in here. It's invaluable. At $1 a year, like, it's, I don't know, basically give it away. There's a step-by-step process of how to get everything on our website, super straightforward. But I just wanted to plug that quickly, because I think it's great and I learned so much, especially being a younger guy and only knowing things in investment and finance and economics from college, having that kind of real-world talk. If you're just getting into this kind of stuff, maybe you're coming from another sector or something, or you just want to learn it, really, $1 a year, it's so worth it. Before we hop into, you know, go back to talking about some things with China and the corporate espionage, I want to talk about Sony quickly, because this is interesting, and I didn't really realize they had this. But they're considering selling an $8 billion financial business that they have. It's Sony Holdings. So this is not, these guys are just dominant. It blows my mind. So Sony Group is considering spinning off its insurance and online banking unit, which, again, I was not aware that they had, responding to long-standing calls from some investors to focus on its core entertainment business, all right. The partial spin-off would include a listing of the financial business, which was worth more than $8 billion when Sony delisted it in 2020. The stock obviously rose quite a bit, but that was 6.4 percent Thursday as writing of this. As investors welcomed the plan, as well as share buyback of about $1.45 billion that was announced on Wednesday. So let's say they flip back and forth over the years about how to handle its financial arm, which serves mostly Japanese customers, excuse me, consumers, with products such as life insurance and online bank accounts. The business, while bringing in steady profit, has only limited connections to other Sony businesses, such as PlayStation video game machines and image sensors used in Apple phones. This is a quote from Huroki to Toki, who's a Sony executive. He says, we'll need bigger investment in image sensors and entertainment in the futures, in the future. Initially listed financial holdings in 2007. Anyways, the point is this is pretty nuts that they have an arm that is so, that's just so large like that. And I would assume, like, you know, getting that $8 billion and then dumping it really back into, like, Sony's core business would be positive for this company. And the way that the Japanese do business blows my mind. There's a seg, well, how do I say it? Like a short, literally, YouTube show from Insider. And it's kind of like, it's called Why Is It So Expensive or something like that. And so many things revolve around Japanese products and kind of the style that they do business in. And it is, like, forever encapsulating. I mean, it just, they go through everything. You learn about the cool, anyways. I think this is neat. I wanted to talk about this a little more. We'll see if we can pump the 100, even on this news, which, you know, wasn't much news beyond the mulling over selling it. It had a pretty big hike, lower volume, but at least not as high a volume. But it's interesting to look at. And again, I was just surprised that Sony had such a large kind of influence, you know? So anyways, I want to move to this quickly. And this is, that is not what I want to move to. I want to move to this. So Petrobras discovers hydrocarbons in Brazil's Santos Basin. Brazilian state-owned oil and gas giant Petrobras has discovered hydrocarbons in the exploratory well in the Aram block in Santos Basin pre-salt offshore Brazil. This country, and really all throughout South America, is so resource-rich, it blows my mind. According to Petrobras, the well is being drilled and the oil bearing interval was verified through electrical profiles, okay, and fluid samples, which will be later characterized through laboratory analyses. The data is expected to enable assessment of the potential and direct the next exploratory activities in the area. Let me see if I can pull something up for you here. Yeah, that's what I thought, but let's just be sure. So we can check this out. It's still down a little bit, but regardless, this is definitely something to look into. And if they find more, this is pretty good for everyone involved, at least on this edge. A little bit of movement too, more into some gas kind of news, because I know people like trading in on here. This is from Financial Times. This is the halt button hit on drilling in the U.S. oil and gas slowdown. New rigs auctioned at bargain prices as demand sags in the shale patch. Now the government is going to start buying more in June in order to refill the strategic reserves that were basically exhausted. So that will probably keep at least demand stable and maybe maintain equilibrium at a certain level. But this is still interesting to get on a macro level. Next week, Texas auctioneer Cruise Asset Management will put two unused top-of-the-line drilling rigs under the hammer. The towering structures designed to bore oil and gas wells are on offer for fire sale prices. Valued at $40 million and $30 million when built in 2019, so not that long ago, four years ago. The respective starting bids will be $12 and $2.3. Talk about a reduced price there. So drilling tapers off in the U.S. shale patch. It's just, again, it's so interesting to see how all this kind of goes on. And I really, the more I see kind of like news heads like this, I think it's easy to overlook stuff like this because everyone wants to talk about, you know, your big tech moves and Tesla and stuff like this. But this is so important to understand too just for the trajectory forward of the country in a whole. It's a pretty interesting stuff and I would recommend, you know, looking out into it. So what I was talking about before was some corporate espionage that is occurring, right? And actually something recently happened with Apple as well. And we can get to that. But this is from last year. But the U.S. sentences chemist for theft of Coca-Cola secrets worth $120 million. And what they were doing was stealing the secret. And this is a little... In this way, I don't maybe fully blame the guy. They were trying to find out the lining in Coca-Cola cans and really all cans. And you know, I know it's aluminum on the outside but they actually used a plastic liner on the inside. And Coca-Cola was trying to figure out how to get a BPA-free version of it. Now, obviously I'm very much opposed to corporate espionage. This is worth $120 million worth of these secrets. According to the Mayo Clinic, exposure to BPA can lead to possible health effects on the brain, prostagland of fetuses. Good lord. Infants and children, yeah, that's not good. Anyways, this is super interesting. And foreign nationals for so long have been getting in and doing corporate espionage. It's pretty amazing. I had a class on that in college and we went through all of the stories. Even one's going back to the 1700s. It's nuts. And so the reason why I'm saying this and it ties in and setting the stage for this is the DOJ alleges that former Apple engineers stole self-driving code from Chinese companies. And so this is kind of beyond the scope of like, okay, maybe he stole it. So the Chinese people aren't drinking BPA. This is definitely a real clear-cut case of stealing proprietary software and using it. And we'll get a little bit more into that. I'll just run through it quickly and maybe kind of the consequences it has for Apple when we get back. So folks, stay tuned. We will be right back. Thanks for watching. TfNN has just launched their new trading room, the Tiger's Den, hosted at Discord. 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Educating investors. This segment is brought to you by Think or Swim. For more information, just click the Think or Swim banner on the front page of TFNN.com. Alright, we've got some serious movement in the cues right now going up. There's some light volume right now, but we'll see what happens. There might be like a double top forming on it, but we'll see. Anyways, I just want to bring that to your attention. We had one of the subscribers reach out via email, so waiting on some more emails back from him. But interesting to look at, and the cues are soaring today. Alright, so going back to Apple quickly, obviously news like this doesn't always really affect us, but essentially what happened is the Department of Justice announced last Tuesday that Wei Bao Wang, who worked for Apple from 2016 to 2018 on the annotation team is being charged with six counts of theft from Apple's entire autonomy source code, which is nuts. The tracking systems, behavior planning for autonomous systems and descriptions of the hardware used. Wang reportedly had broad access to databases, which from the security perspective, you never want to do. So at the time, only 5% of Apple's employees even knew about the project. This is pretty nuts. There's another story. I'll just have a quick summary. It was a company, I think in Ohio, that was developing technology for windmills, like wind turbines, and basically got stolen one day, and then the same technology popped up in China, and this company, you lost all of its income, all of its revenue because their major consumer was in China. It's pretty nuts. Now, can we actually get away from these practices? Can we actually get out from our relationships with China since this is the relationship we seem to have, and this visualizes just how interconnected, this is from Morgan Stanley, just how interconnected we are with China. So the short answer is probably not without severe consequences. I'll link this chart in the den as well, but just super interesting to take a look at, and you could probably get lost in this for a few minutes. But yeah, it just shows you, there is some serious stuff that goes on, and I think on the same end too, China doesn't want to do anything too big. Obviously, we have some tolerance for them stealing IP, and it's probably because of something like this, so they're going to continue to do it, but they probably won't do anything too extreme that would jeopardize this insane network. So, anyways, I thought that was interesting. Another thing to have been seeing a lot of is talking about the M2 reduction, and again, yes, we're seeing a retraction of M2, but let's seriously take a look from like 2020 before everything took off, right? Can you get a march? Look, I mean, we're still back, we're not even close back to that level, right? You know, if we really, the way we want to look at it too is like the amount that this goes down, are we going to still see the same kind of increase if we had like a linear kind of pattern on this, right? And it's getting to a point like if it reduces down enough, we would be on the same track that we were on had COVID not happened, right? We just need a bit more retracement on this. But I just kind of want to bring everyone's attention, just kind of take a look at it, because there's so much talk around it, and I'm not sure we're at a point yet where it's like so significant that it has any kind of like impact on the long term. But the more this M2 supplies gets dwindled down, if it goes past the point of this linear regression, then yeah, then we're kind of in an issue. So as that happens, if it does happen, we'll take a look at it. The other thing I wanted to look at, another subscriber emailed me taking a look at the SPX and margin debt. So this is like basically margin trading and kind of how that affects everything. This was interesting. So this stops in 2021. And so through 2022, we actually had a reduction essentially of on like the full term, I guess, of margin debt. But now in 2023, we're ramping it back up again. But I just thought this was kind of interesting and it seems when you kind of get a pullback of margin debt, the SPX sends off, right? And so I'm filling in tomorrow as well. So I'll try to find a more like, I suppose, recent one for it. But just seeing how this pattern works, right? Like you get this pull off down here and then you get a shoot up and then that kind of follows through up on it. Obviously having like margin debt like in some ways like inflate the SPX, right? Because you're taking everything out on loan. But I don't know. I thought that was interesting and I'd never seen it. And someone asked about it and I just took a quick look at it. I thought it was neat. I don't know. All right. Let's take a look here. We were talking about GE yesterday and this was interesting. You know, they got that contract with NASA and actually their finance chief, Dibeck Hapa, is going to step down. So General Electric said on Thursday that Carolina Dibeck Hapa would step down as finance chief of the industrial giant as it prepares to complete the spin-offs of its businesses next year. This is so interesting. I'm really going to take a closer look at General Electric and maybe revise the way I was looking at it yesterday when I was like, maybe this isn't really growth. I don't know. But I'm going to be following this company a lot more. Rahul Guy will become the CFO of GE effective September 1st while retaining his role as the finance chief of GE Aerospace. Interesting. Which he has held since August 2022. So, yeah, they get some big movements going on in GE. It'll be interesting to see when their campus gets fixed as well. We stick with the AI conversation. We've been talking about it a lot. The guy who, let's see, what is his name? The open AI CEO was just in Congress. Sam Altman. He had a great, great showing at Congress and kind of how he spoke about basically controls that should be on AI and kind of like the mass impacts it could actually have on the long term regarding the safety of people's data. But this is here. Goldman Sachs' AI could push S&P 500 profits up by 30% in the next decade. Over the next 10 years, AI could increase productivity by 1.5% per year and that could increase the SPX profits by 30% or more over the next decade. Goldman Sachs senior strategist, Ben Snyder said, recommended that investors should spread their US equity investments in cyclical and defense sectors. We've been talking about that here on TFNN, touting the energy and healthcare sectors for their attractive valuations. The emergence of chat GBT, the chat bot developed by OpenAI has spurred a firestorm of interest in AI and the possible disruptions in the daily lives of many. And keep in mind guys, this is just like a chat model. This is not like Skynet or anything. This is just an algorithm that is really good at predicting what a human wants to hear and can get you information quickly. So imagine we like really pushes to the max and imagine we start networking AI together, right? Like that could be really, really massive and disruptive. And I do think they're probably, yeah, of course we always get these revolutions that essentially change the landscape of the job market, right? But I think this one is going to be a bit different. Not that there won't be new jobs created that people can go into, but how are we going to get people who are still trying to basically pursue jobs of your into these sectors, right? Like this is a big problem with younger men and stuff like that, right? They want to do what their dads and grandads did when really the major stuff now is going to become, if you're not doing STEM, you're going to be doing what's called HEAL and that's healthcare, education and all that kind of stuff. So I think there probably will need to be some kind of movement towards helping people get into these positions when AI really takes off and starts really changing the landscape. Folks, stay tuned, we'll be right back. As a precious metal, gold is still king. It continues to hold the most effective safe haven and hedging properties across the global major trading hubs of the London OTC market, the U.S. futures market and the Shanghai Gold Exchange. The Gold Report. Tom O'Brien publishes his weekly Gold Report every Monday morning for subscribers, consisting of coverage of the XAU, HUI, GDX, the Dollar, Bonds, the South African Rand, as well as 25 different mining equities with specific buy-sell recommendations. The Gold Report. 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Yeah, so, someone in the den again. Get in the den. Just talk about Boyle. I think it's about 8%. That is really insane. That's the natural gas from Bloomberg, ETF. Someone to look at though. What a run up. I love these little ETFs too. They're just so, they're very alluring which is probably not, you know, great. Especially when you're someone who's trying to like get experience and stuff like that. But I, anyways, it's worth a note. Pretty interesting. One of the things I wanted to talk about was Cisco, right? Now these guys are huge in IT. They go on a year to date. These guys, just to give you a look of what's going on. So basically the earnings top estimates but Cisco stocks still falls on quote unquote modest fiscal 2024 expectations. These guys are selling routers, switches, firewalls. They have their own services. While I have a family member who's incident response for Cisco, they do everything. They are massive. Shares in Cisco fell Thursday as Analysts molded the company's quote modest outlook for revenue growth in 2024. For the period ended in April 30th, Cisco earnings were $1 per share. Up 15% from a year earlier. Revenue for Cisco stock came in at $14.6 billion, up 14% including acquisitions. Pretty nice. Analysts expected Cisco earnings of $0.97 a share on sales of $14.39 billion. A year earlier Cisco earnings were $0.87 a share. The tech giant reported results after the market closed yesterday. The stock fell 4% due to it. But we're only down a little bit right now. There's a lot of volatility moving in right here with this. At least the price wise. But at the time of writing this, it was at $45.74. We're obviously back at $47 right now. It's a pretty solid company. I mean, I use their, like if I have a home lab or something like that, they have such cheap firewalls or such cheap servers or whatever. And it's nice. So the 23% order growth decline in April followed the 22% decline in January. Order surged in early calendar of 2022. Raymond James is looking at it and the retreat may reflect fiscal 2024 growth below expectations. I don't know. We'll see what happens. If you want to look at like, and obviously these are vastly different sectors and everything, but you look at these like sell-offs that happen. Like if people just like the company, they like the company, and this Home Depot move was honestly insane. See what we can do. Let's do it one year on it. But you know you had this massive sell-off and we just came right back up. Even above the level before the quarterlies came, before the earnings came out. It's pretty nuts. Go to the one month. Yeah. So I mean, you had this massive sell-off, right? And then today and yesterday, you were above the level that it was at before the earnings came out. And this is like, you can see this in a lot. Same thing with like Square, even though that wasn't earnings that was the Hindenburg report, but it sells off and people are just like, hey, listen, I like this company. We're just going to buy it back. And now it's sitting even higher than it was. And same thing with Cisco. We'll hop back to that real quick because I want to finish up that story because it is interesting. And you know, looking into security and stuff like that. Again, I really do think that one of the big sectors that has been avoided, mainly probably because it just is kind of arcane to a lot of people. But this level of security is going forward in the future, especially as we continue to virtualize everything. And that's not going to get any different. Let's see here. So for the current period ending in July, that was last year. Cisco fourth quarter, the company forecast earnings of 106 a share. Meanwhile, Cisco said it expects revenue growth of 15% versus projection of 14% growth to 14.95 billion. So, you know, take a look at this. We'll see how this shakes out today. If it stays like constant at this 47 area, that would be interesting to see kind of like the general outlook that people have on its health, you know. But again, if we finish like above that, you know, we're finishing, if we finish like at this mark, we are finishing above again what the earnings were. And while that seems to be kind of consistent throughout the whole market, I still do think that looking at Cisco is important. You know, on like technicals, you have a massive drop with pretty big volume, but we are testing that upper level again. So if we can get that on some volume by the end of the day and even so above it going into tomorrow, that might be kind of good looks technically for Cisco. All right. So we were talking yesterday about possibility defaulting. You know, someone said, and I was reading on some forums that like even if we pass this, which I'm sure we will write, you know, the consequences of not passing this are it's an event horizon, right? If we'd actually defaulted, we have no idea what the impact would be if something like that, but I do still think that they're going to pass something. But someone was saying that it makes America lose a little bit of prestige and I know that's an intangible excuse me, but it is kind of like real and it does have tangible effects, right? Like even if we do pass this, this is everywhere and this is one of the worst kind of impasses I've seen in my life regarding the debt default. So this is asking how Wall Street is preparing for possible U.S. debt default, which is super interesting when we do a quick overview as talks over raising the U.S. government's 31.4 trillion debt ceiling intensifies. Wall Street banks and asset managers have begun preparing for the fallout from a potential default. Right, so let's look. Obviously, we kind of have a slight idea of the immediate effects, like what it means on paper, but again, I think there are tons of impact that it would have and we just, we can't really foresee that because it's never really happened. So how are the institutions preparing? Banks, brokers and trading platforms are prepping for disruption to the treasury market as well as broader volatility. Obviously, treasuries, the notes are down today. So this generally includes game planning, how payments on treasury securities would be handled, how critical funding markets would react, ensuring sufficient technology, staffing capacity, so on and so forth. Big bond investors have cautioned that maintaining high levels of liquidity was important to withstand potential violent asset price moves. This would be so insane. I mean, just even thinking about it in that capacity and to avoid having to sell the worst at possible times. Security's industry and basically SIFMA, a leading industry group has a playbook detailing how treasury market stakeholders, fixed income clearing corporations, clearing banks and treasury dealers would communicate ahead of and during the potential missed treasury payments. Be nuts, but what is interesting is we have this today as well. The tide is turning in favor of the bond market and we have seen, you know, a run up essentially, right? Which that's nice for, in some ways, economy as a whole because that's pressing down interest rates. Obviously, bond prices and the return are inversely related and that kind of has impacts throughout the rest of the markets. But so the brief moment of tide is neither ebbing or flowing. There was a nightmare for bond investors last year. U.S. Treasuries fell 13 while gilts were down 25. That get-gilt crisis was so insane. High-yield bonds did better than safer investment-grade issues. I would still say there's a lot of cash that just exists. So it's not in bonds. It's not in equities. I think it's an extraordinary amount of cash kind of on the sidelines right now. Which can you blame people, right? The good news is that what created headwinds for investors last year, looking that will provide a tailwind in 2023. Last year, interest rates were hiked in response to storing energy and food inflation and a red-hot labor market. We are still waiting for that tide to turn in May. I've seen further rate hikes in U.S. and Europe. Folks, stay tuned. We have just a little bit left. We've got an interesting story for you when we get back. Let's take a look at our community of traders. 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When you subscribe, you'll get a weekly report from veteran day trader Larry Pesavento on stocks you need to pay attention to. And you can trust Larry's analysis. After all, he's got 45 years experience as a day trader. Larry will also provide daily charts, videos and data on the key markets that he's tracking. Expect notifications from Larry on market movement you need to act on at any time. First-time subscribers also get a 30-day money-back guarantee. If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up. Subscribe to the Fibonacci 24-7 newsletter today. tfnn.com Educating investors. This headline is about basically the fusion energy startup. I just have the cues up right now. I'm just looking at it. Some interesting moves. But what we're talking about here is the Japanese fusion industry, which is so nuts. And this is making helium, basically. So 16 companies in Japan, including Mitsubishi, Kanzai Electric, and some government-affiliated funds are running a $73.6 million investment in startups working to commercialize fusion power. And they're trying to get this really up by 2024. The ultimate goal is to move towards implementing and developing fusion, which makes heat by combining hydrogen atoms to make helium. And that combination creates energy. Fuels that can be used for fusion can be drawn from seawater and are practically inexhaustible. Nikkei notes that the Mitsui, Ko, and J-Power Inpex and 10 other companies, including MUFG Bank and JIC Venture Growth Investments are all in. And let's keep in mind, too, this isn't just like Japanese kind of side. Companies like Microsoft are even investing in things like helium energy. This would be, this would obviously revolutionize how our planet gets power, how it absorbs it, and, you know, it's low pollution and stuff like that. So I think we can all kind of root for something like that on the long term. They use something called gyrotrons, which heat the plasma, basically, and that facilitates the reaction. It's pretty neat. And they, Keono Fusioneering, which is a company that's getting that massive endowment, they're the leader and development of gyrotrons. Gyrotrons, excuse me. This is cool, too. This has been in the news. We'll wrap this up really quickly. The bioengineers are building hearts, basically the 3D printing. This has been going on for a while, but it's getting bigger. They're basically printing out a picture of hearts. And really, you can do this with any organ. And they're just putting heart cells on it, essentially. And that forms a new heart. It's from your cells. That doesn't get rejected by the body. This is huge. It's obviously in its nascent stage, but we'll see what happens with it. Folks, thank you so much for joining me today. I'll be back tomorrow. Basil will be back Monday.