 The following is a presentation of TFNN. The TFNN Bull Bear Trading 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 Trading Hour. Now, Tom Antt, Tommy O'Brien. Welcome folks, appreciate you growling a problem with us. We have the Dow investors down 50, Nasik off 73, S&P's off nine and a half. Gold contract up $11.30 trading at $13.22 an ounce. We've got Silver up 18 cents, $14.75 an ounce. Lightsweep crude up 37 cents, $53.87 a barrel. Now crude got down I think to 71 this morning. This is quite a move. Sorry, 71 too. I mean, 51 this morning. Yeah, well 52.11. This is quite a move folks and bottom line is that it's not holding price at its highs either. So I suspect crude man, this has been quite a movement. That's for sure. And it should have picked up some support at this 52, which it did. We'll see where the baby shakes out. It's up almost two bucks from that. So that's a pretty decent bounce, yeah. Notes and bonds, higher price, lower yield. Ten-year note up nine ticks, $126.21. 30-year bond up 19 ticks, $154.31 and $king dollar. King dollar down 216 ticks, trading $96.920. The euro is at $112 to $1.00 US dollar. The yen is at $108 and a third to $1.00 US dollar. And the pound is at $126 to $1.00 US dollar. Off-phone number's 877-927-6648. It was a call folks. Wanna know what's going on in your world? I heard the update. I gotta go see what the world is going on with the NDX100 because that was quite a move on the way down. I was gonna say, I know one of them. Yeah, and it looks like Google's forcing it, no doubt. Google's down 6.3%. If you look at Google folks, okay, bottom line, this is about antitrust. The stock gaps low with the day gaps, opens at 1065, it's at 1033. Now this is what you wanna wrap your head around. We are already at the into the highs of the lows of December, you know? So we hit the 139, bottom line, this is game. This is where the S&P wants to go too, man. So this is gonna be really interesting watching this thing shake out. That was a fast move, big number. Inside also the NDX, let's see the strength out here is AMD, Advanced Micro is up 7.4%. This thing's a wild, isn't it? Definitely. It's always at the top of the most volume folks and it's either like down or up $2 like at a heartbeat. And it's just challenging, you know, had some strength last week. That's strength at 29.66. The NXPI is up 3%, MGen's up 4%, Maximum Integrator's up 2%. Downtown, you get Workday down 4% and Facebook is also up 4%. That's quite a hit in front of Facebook too. That is, I was waiting to see what's going on there. Yeah. So that's, yeah, it's gonna be an ABC down. It's breaking, you get your B point laying out here at 4.4 million, it's already 1.9 million. You know, your array is what, 1.98 approximately. You get, look at that, you get 20 bucks. So 1.66, oh, we're already at 1.70. What's going on with the news for them? Can I see if there's anything in particular? Ah, so maybe. Must proceed with privacy breach suit. They got a lot going on there. Yeah, you do. I see Facebook's meeting with regulators. There's no doubt. Yeah. Gold, gold contract folks, bottom line, you know, it's got a nice bid. You, you have 1120, you got 195,000 contracts traded. You know, here last week, you could see that, you know, gold peak that's had up, broke the down trend. And now you basically, you've moved with conviction. That's it, that's it. So three days were up, what, 45 bucks? Yeah. And now you get game out here to 13.61. Yeah. The notes and bonds, man, this is just. I know, right, 2.07 on the 10 year. Watch out. Really? Yes. Wow. That was about 5 a.m. this morning. Okay. So it was down, and we're sitting about 2.10 right now, I believe. Yeah, 2. Yeah. So it's interesting that this pulls the low here because if you pull up the 10 year graph that we pull up, maybe I wouldn't have it still in one of these. Let's see, there it is. So there's your 10 year. Yeah. And you can see the spike, 2.0693. There it is. Right. 2.0693. So they haven't picked that up yet. Yeah, right. Exactly. So I wonder how that calculates, whether it's, I know. What time's the open for the pit? Maybe the opens, I'm not sure. No, I'm with you. I'm with you, right? Because it even traded below 2.10 actually, if you look at it at 10 o'clock, 2.0934. And the way this is set up right now, folks, okay? Game is on the table now for 1.73. This is quite a conviction move, man. Here we are, we're basically almost there. Yes. The two point, we were at the top of 2.16. The bottom is 2.01. It's quite a bar. These are weakly set. It is. And so it's like, hey, there's no reason to kind of get out of the beginning of the strength, which is 2.1.71. That was quite a week of the election of 16. We're looking at almost at a half a point from 1.71 to 2.15, almost half a percentage in a week on the tenure. And if we go over to FedEx, just you want to see the opposite. So FedEx is getting slammed this morning. That's not that bad now, right? No, it did. It pulled back. I pulled it up on the thinkorswim. We can jump over, because you can see it rebound from where it was on the lows. Now, here is another indication, folks, that you're going to December 26. FedEx, $151.88. The low is $150.94. The high is $160 of that last low. So you really get to pay attention to that. Slowly down the market creeps. And these companies, evidently, are going to really get hurt. Yeah, in my opinion, FedEx and Google have some unique obstacles in terms of Google with the antitrust man. Right. It looks like going to be a pawn in the trade war. Right. And then what you had, you had Blackstone folks, Blackstone, let's see if I, here it is right here. Blackstone got in the middle of a bidding war. And it looks like they got the deal. They bet $18.7 billion. And they, I think it's 3,100 properties, so let's see. So 179 million square feet of urban logistics properties. Yeah. And Amazon's their biggest client. Okay. Let's see, so. It's almost going to double what they had. Yeah, I mean, this is a big move, man. Maybe right there, more than 100 warehouses. And now that's another one. Yeah. A bottom line is that they're out there and they bought this off a Singapore company. Okay. They were going to, the Singapore company. Yeah, 1,300 maybe, properties. Yeah, that's, yeah. Okay. And counts Amazon and Whirlpool as the biggest tenants. Right. Probably a FedEx, Home Depot, L'Oreal. Yeah. Big numbers. Yes, Starbucks, Tesla. They get the whole, the whole gate in Gaboodle. Look at that, huh? Yeah. Seems like you're remarkable that Amazon wasn't in there competing as well. I know. Yeah, but. I know. They got enough to be spending their money on right now. I guess it's, yeah, it's really intriguing actually that, you know. Maybe Amazon's, they're so nimble with their logistics, right? I mean, maybe they're, it's not, it's not hip to lock yourself into that kind of warehouse space. Cause maybe they don't need that kind of warehouse space, right? We just saw it. What did they just do? They just said, we're not going to be taking orders from small clients. Right. We're not going to be storing them anymore. Right. So. Imagine that. Yeah, right? I mean, if you had bought all that warehouse, you said, oh, nope. That's, that's really intriguing. Now you're going to have to deal with the mom and pop and get their warehouse space. It's scary having a big client like that. It's good and it's scary. Yes. So there it is, folks. Tommy and I are coming right back. We have the Dow Industries down nine. NASDAQ is off 56. SPs are off four and a half. Come right back. 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TFNN.com, educating investors. Call now toll free at 1-877-927-6648. Internationally at 727-873-7618. Folks, that was a five, Nasix down 50, S&P's down two and a half. And what did happen on Friday, folks, this is pretty wild watching this. I'm gonna bring up the volume. We were watching this volume coming into the close on Friday and even at five past four, we didn't have a billion. We're still at like 800 million. So they did throw some volume in at the close in the NYSE. That'll be the final day of the month, right? Usually there's some always accelerated volume final day of the month. Well, that's what we were looking for because we're particularly looking for is it gonna be a portfolio like they sold off on Tuesday? And that's what made Tuesday so interesting because it's kind of to be expected on Friday, Tuesday. Yeah, different scenario for sure. And in the NY, that's in the NYSE. In the NASDAQ composite, you did have volume as we went to lower price. But you had it steadily, that's my point, not just in at the close, 2.2 inside the composite. And you can see the composite out here today is basically having a tough time also. And that would make sense with Google. And Facebook, right? Yeah, the two of them. And yeah, whatever's going on on Facebook, 4% man. Watch out. You know, let's go take a look at Apple out here. So, so Apple's flat. That's not helping anything. And this looks like it's setting up another ABC down. Look at the little pop, no volume, what's a little light volume. I'd be a little bit worried about Apple in terms of China retaliation with FedEx getting a wake up call this morning. That Apple is, they're like, you know, they could be the major target as in maybe China saving them. To hit it, you know, as in there's no bigger company to target. So it's only a question whether China does it now or at some point, I think. Right. Well, you know, into the gold market folks, you know, bottom line gold caught a nice bid. You got XAU, HUI, they also caught a nice bid off the bottom. It's pretty wild when they do catch a bid. It's like, you know, three days you go from what, 66 to 71, 69. It's been quite a moving gold for sure. Yeah, that's the XAU. If we take a look at the gold bugs index, that just went from 147 to 161. Same deal, you know, you get, and what's gonna get intriguing here inside of that market in general is, you know, fundamentally you got rates going down. So that should, you know, get a, keep a bid in gold. It's gonna be this dollar, you know, can the dollar bottom line, get any volume on the way down? DX. What has happened, doesn't even look intense. Do you, do you want it? No. I just do that. So the dollar, where are we? DX. Oh, DXU or aren't DXU? Yeah, yeah. No, that's the wrong one, DXU. Okay, so what we've had continually is that that dollar, well, it's only 720. That means we're not on that contract either. One second, sorry. That's not gonna be the DXN nine. So it's still on the end. That's it. No, no. Is that what it says? No. No. You just type in the dollar, you can go to the current contract. That's what I was, Yeah, it's not coming up. Is that it? Interesting. Okay, we'll just go to the Q. I don't think that's the end of it either, sorry. No, it's not. You're not, thank God. Yeah, we just type the dollar. Well, here, I'll do it. Yeah, exactly. So this is this, the dollar here, you know, now this is the DXY, this is what I normally don't bring up. They're throwing, Peter and the Dentsen DXM maybe. Oh, thank you. Let's try that DXM. There we go. Okay. Okay, cool. So thanks, Peter. So we're on the death, yeah, the June contract still. So what we've had folks is that every time that you get over this high, you know, we'll come up to the high, you get light volume. And just like on Friday, you come down and you had some volume on the way down. And then the volume just seems to dry up immediately. So we'll see whether you get any follow through. You know, you get 11,000 contracts today, which is a lot of contract volume for this early. Right. You know, if you get a couple of days of this, then that dollar's gonna get a shot to get out to the 94 area. You know, it hasn't broken its up trend yet. There's no doubt about that. And we'll see where that shakes out. The note and bond market, let's just bring this up. This, I'm curious as to what the Fed fund future, how much, look at how much it's, okay. So on Friday, this for September, that was at 68%. Okay. And what I'm looking at folks, if you're watching Target TV, if you're not watching Target TV, you're in your car in Portland's coming down that beautiful coast of the Oz. It's an 86% probability that the Federal Reserve will cut rates a quarter percent at the September 18th meeting. And now July went over 50, 51%. Pretty amazing. Look at October is at 92%. Yeah. Yeah. That's, that thing has moved. That sure is. And we've seen these, they moved quite a bit. I mean, I wouldn't want to be trading off of these. I can tell you that. But that's saying that the market is already saying that the market has already brought the rates down. Now the question is, is this going to force the Fed's hand to actually bring the rate down? And to break it down even a little bit further. So 86 remarkable by September, right? Definitely pricing in huge chances of a cut by then. 51% by July. Now, when you get into it though, of that 86% chance saying a cut, there's actually almost a 34% chance that you're looking at two cuts by September. By September. That's it, yeah. Of that 86, because you're only looking at a 47% chance actually of one cut, a 33% chance of a two cut, which is remarkable that by that point, it evens out a little bit, as you can see. But you want to really get into some numbers, man. By December, 32% chance of three cuts. Watch out. Yeah, I don't think that. By December. By December, because these are, this is the one cut column. This is the two cut column. This is the three cut column. And you can see that, I mean, as remarkable by September, they're putting 5%. It's not liar, but the three cuts, almost 20% by October, and then you almost get basically a one out of three. And so really what these are saying, you add up these two columns and that's the probability of at least two cuts. And you really start getting to a two to one favorite, 66% square on the dot by December, that you're getting two cuts, which is why it's almost 97, that at least one. Yeah. Big numbers, big numbers, folks. No two ways about that. And we'll see where it's gonna take some of these equities, but some of these equities, as FedEx, they're gonna be in tough chair shape, I mean. Oh, we're on something. Yeah. Nope. So if we go look at this composite, so the composite right now is trading, okay, at the February level, interesting. Okay, so we're at the February level. Yeah. You know, we'll see if this thing can basically get any type of support whatsoever. I mean, when we go back here, you know, it's May's been a one way route, no way down. Yes. And then, you know, the way that the numbers are coming and the taffs are coming, these S&P 500s are gonna have a hard time making any money. I keep saying that we got election season coming, man. That's not gonna calm markets as we get into debates, as we get into, you know, uncertainty. And that's really what uncertainty. It's a lot easier putting them on than taking them on. That's what it comes down to. Stay right there, folks. Tommy, I can't break back. Hi, folks. Tom O'Brien here. If you'd like to get my daily newsletter, 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. 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That's not that much, but it's spread across. It is. Between Boeing and United Health, about 60 negative points. Besides that, there's only a few companies in the negative. Right. And so Boeing's got a little more negative news out here this morning. Doesn't stop. Doesn't seem like it's really affecting the stock that much, though. Let's see. 337. Now, that's going to get interesting because we can do 7.7 million. If you do 7.7 million, there's going to be another ABC down today. They get a problem with their wings on the 737, correct? Not just the 737 MAX, either. Yeah, I heard that. 383, 384. That's 50 bucks, almost 45 bucks, which will get you 315. Okay, so let's see what they're saying. Third one, I think. Cracking them. Elon's Worldwide message, expect 312 of the Boeing 737's family of aircraft, including some of the grounded 737 MAX because they have wing components that are prone to cracking, must be repaired within 10 days. US aviation regulars said Sunday. That's a lot of repairs in 10 days, 312, 737s. No doubt. Yeah. No doubt. Boeing informed the Federal Aviation Administration that so-called leading edge slack tracks may have been properly, may have not have been properly manufactured and pose a safety risk. The agency said an email statement, the parts allow the wing to expand, to create more lifter and takeoff and landed. Man, that's the last thing. This is taking an important part. That's the last thing that- The wing. Pretty sure you want the wing working correctly. Yeah, slightly, slightly. Yeah. Let's take a look at those S&Ps. So the S&Ps also did a nice little pop out here. I believe that they, okay, so we're bringing this back. Yeah, so they had been up at this level earlier. Right before the open. Right before the open. So 27.59 is the number. You're at 27.60 right now. We'll see whether it can basically handle it. Now what you have here, folks, this is gonna be cool watching this shake out because what we have is at a 10 o'clock, that's a high volume low bar. And most times that you're gonna see is that that's gonna be tested. So this is gonna be challenging all day here. Let me go pull up the NQs. Look at that. The NQs just don't have- No, that's where you're really seeing, I think, just Facebook and Google alone. Look at that. Cause I don't think you've seen Google reclaim from their open where they're at. And that's a high volume low yet, 7,028 also. So NDX 100, folks, is great at bringing markets up and down. And in this particular case, there's gonna have to be a savior in there for Google. Yeah, you can see them. Particularly, cause this is what's really crazy. So watch how this works. See how this Google, because Google has two equities inside the NDX 100, it's even worse, waiting-wise. They have the GL, which is the voting one, I believe. I know they're two both mammoth waitings, of course, but I think they probably combine to be a appropriate waiting, I would assume. I guess it depends on- We could just pull it up. Yeah, what appropriate means, because just like with Apple, Apple at one point was 14.5% of the NDX 100, do you know what I mean? Yeah. But that's gonna be a problem for them. No doubt the NDX kind of all day long. Can you go back to the description before you jump away? I just want to see how the NDX, is it cap weighted? Modified cap weighted. Okay, so a little bit of a tweak, but much more appropriate than the Dow, right? Price weighted. For sure. For sure. That's what I say, I mean. So you get the NDX 100's modified capital weighted index of 100 largest and most active non-financial, domestic, international issues listed on NASDAQ. And no one can be more than 24%. Yeah, imagine the 24%. Yeah. Hey, when you get, I mean, you know, comparing Apple to the number 100th market cap stock in there, you better believe Apple's gonna have an impact more than whatever those smaller cap companies are in there. Right, right. So bookings.com, that's putting, that's up $19. Not bad. Yeah, look at where it's from though. Yeah. Now here, like so here's another one. This is pretty wild and a couple of the Tigers would give me a bunch of other equities that are already down to the December 26th. That's down there too, you know? We hit 1658. The low was 1616, the high 1648. I think it's 1608, I saw it over there. The low. Okay. Yeah, 1608 and the high 16... 48. Yeah. Yeah. This is gonna be... Some volatility over there. Yeah, and I know, I wanted to do that. I saw a couple of Platinum here. Okay. Platinum evidently is on the move. About time if it is, let's see, $17. Yeah, at least they come off the bottom, you know? Saved itself instead of jumping over, jumping off the cliff. Yeah. This is down from 920 or at 812. Yeah. That's where they can basically get some follow-through. And how about Bitcoin? Still holding steady about 84, 8500. Always interested to come in over the weekend and see what happened. And we've had a couple, as it's been holding, if not higher. Look at that, yeah. All right, now that looks to me like 10,000s on the agenda here. Quite a chart. There's not much in between that and those lows, is that 10,000? That's actually 11,000, yeah. That's 8,200, you're already over that. Yeah. This is crawling up here somewhere, man. Oh, yeah. It's new territory up there, man. Didn't take long. No. Once it came off the bottom, it actually didn't take long at all. Let's go take a look at the car companies. GM got smoked on Friday. You know, because they have a lot of plants in Mexico. And a lot of car companies, too. Yeah, and GM's all the way, also back to this December level. And you know, we'll see what they can hold. You know, it has support here. So, you know, 32, somewhere in between this 32 and 31 area, put this on, actually, you know, it's so cool. Now we can put these on monthlys. Yeah, it's at the bottom of the range. Yeah, that's a tough month for GM with the car companies. Look at that. Tough end to the month. 30, 39 to 33. Yeah, huge. No doubt. Big, big number, big number out there. If we go over, let's go take a look at the Europe. So, the DAX, okay, so the DAX rejected lower price out here this morning. The FTSE, that also rejected lower price, yeah. I might get a little bounce out there, so it's looking like. Stay right there, folks. Tell me now, I'll come right back. Now, industrials trading up 93. NASDAQ down 36, S&P's up 7.5, coming right back. If you are in the CD market and looking for a secure investment, the Tiger First mortgage program may work for you. The security for these first mortgages are building lots in the tax opportunity zone in St. Petersburg, Florida. 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This is quite a story. Top one, yeah, or that one. Yeah, so, for years, Tesla has hauled in revenue by selling credits to other car companies that needed to offset sales of pollutant vehicles in the United States to U.S. consumers. General Motors and Fiat disclose to the state of Delaware earlier this year that they reach agreements to buy federal greenhouse gas credits from Tesla while the findings are light on detail they haven't been reported on previously. They also represent the first acknowledgement from car makers that they are turning to Tesla to help to comply with the intensifying U.S. environmental regulations. Now, what's intriguing inside of this, folks, is that you do have GM, they make hybrids, okay? And what they're saying here is that the deal with GM will come as a surprise to those who thought years of sales of plug-in hybrid Chevy volts in all electric Chevy volts, volts and bolts, would leave the U.S. car maker in the clear with regard to regulatory compliance. But while those sales of the models have put GM in a position where it doesn't need extra credits today, demand for its battery-powered vehicles are dwarfed by its gas-goggling trucks and SUVs. They're dwarfed, yeah. So what they're doing, they're banking these now. They're basically buying them and banking them, but watch the number, folks. This is quite a number that Tesla has taken in. They've, was it 2010 that we got? Yes. Yeah, since 2010, they've taken a $2 billion by selling credits. There you go, under the hall, yeah. Two billion in revenue from selling regulatory credits since 2010. It's home state of California as a mandate that requires car makers to sell zero-emissions vehicles or ZEVs in proportion to their share of the state's auto market, which is the largest in the country. And if they don't sell enough, then they have to purchase credits. Yeah, so GM's credit purchases illustrate how challenging the U.S. fuel efficiency requirements are getting, even for automakers that are adding more zero-emission vehicles. But in the same essence, man, people just love SUVs. They love trucks, so this article makes it out to be like, you're not gonna believe that all these car companies are selling cars that still eat a lot of gas and they're big. It's like, no, I believe that. I mean, do you look around at their roads? I mean, we're not even producing sedans anymore, right? You see the articles in terms of like car companies. It's either a crossover, you know, vehicle. It's a SUV, it's a truck. The days of the Ford tourist wagon being the best selling sedan car in America are far, far from where we're at right now. No doubt. And yeah, we'll bring up gasoline. And you're gonna see, you know, gas is getting less expensive. You know, we just came down from 206 unleaded wholesale, or 176, let's go, well, I gotta bring up a continuous contract on this. XB. XB1, okay. Yeah. You see generic, right there. Right there, yeah. These are just one-way moves, so we'll see where it shakes out. We should get- Can we back it up a little bit further? Yeah. This is where everything, put on like a, all right, yeah, well, that'll really do it. Yeah, in terms of, you know, that normal we had from 10 to 14 before we got it down, as in you had wholesale at almost 350 for a while, man. I know, yeah. Look at that. Yeah. So we had to peek out there, folks, in the 08 of 363 wholesale, crashed to 78 cents. Yep. 78 cents. I know, a lot of things crashed then, as we know. All the way back up to 348. Now, we stayed in the threes from, what's that, 20? Yeah, 2011 to 2014. And not much since then. No, that's why, you know, we're back near the highs, but we're okay, as in this lower range still, if you're sitting under 200, two bucks, something like that. That's, that's, that's car credits. There's a lot of moving parts in that thing, man. So let's just go look at Tesla for a second, because this is an equity that's in trouble, too. Yeah, look at this, man. Whoa. Yeah. This is just getting sliced on a slow basis. Well, it's slowed down lately. It was pretty quick in the beginning, I think, if you were a shareholder. Yeah, no, there's no doubt about that. So, look at this, it's a very dangerous place right now, folks, because you, you have, you go all the way back to February of 2014, almost everyone's in a losing position, you know, from that, and it should hold here for a bit. And so if it doesn't hold, then it's big trouble in paradise, because then, guess what? Then your next leg is 40 bucks. Like, really? Well, it is. Yeah, they get, they get, get some competition in the next couple of years. It's time to put up. That is a big number. Yeah. That is one big number. How about the world rates? Can we jump around? Yeah. Because as we hit that 2.07 this morning, what are we sitting at now? 2.10, 2.12, we'll get a little bit of a pop. 2.12, you can see, Germany's in negative, now it's 19, 100 of one, minus 19. Yeah, yep. Well, Netherlands is in, and what's that? That's the 10, I think it's the, is it the fives? Is it everything? There's a negative, yeah, look at this. When you put it at the five year, folks, right? Like, France is in negative rates, Germany's in negative rates, Spain's in negative rates, Portugal's in negative rates. Yeah. Sweden, Netherlands, Switzerland's, yeah. The only one in that Europe group is Greece with 1.6, Italy 1.8, and the UK at 0.6 for a positive. Isn't that wild? Yeah. And then forget the two year rates. Let's see, this is gonna be, you give people your money for two years in Europe, you're paying up big time, paying up for five years too. Yes. It's lower rates are coming at us, and what you are gonna see is that we'll see a bunch of refinances in the real estate market too, because now we're talking. We're talking half a percent. Yeah, I know, and you know what had, it did happen is that I was looking at the Fannie Mae, Freddie Mac rates on Friday, they broke 4%. Okay. It was 3.99. That would make sense. Yeah. You know, which is pretty cool. Yeah. I mean, that's a big number, folks. Let's put this on the 30 or even as we see what they're putting. Yeah. 2.5. Yeah. 30 a treasury. Yeah. So you can see 3.99 is, and you know what does happen, folks, is that inside the mortgage market, they're, the average, when you take everything put together, normally those loans don't stay out more than seven years. So what's going on in the mortgage market right now though, right? Is that if you and I had bought the mortgages, right, we are bumming out beyond belief because if you go back seven months ago, everyone thought rates were gonna go up. And the last thing. Sorry, if we bought as a consumer. No, if we bought the bonds. Okay. If we bought the Fannie Mae, Freddie Mac bonds, right? The last thing we want is rates to go down because then we paid more than principle-wise. They're going down and then people refinancing and bonds get called. Okay. So we get, you lose principle and then it's like, oh no, that's, you know, the bond market, folks, is, you know, it moves, well, last week it moved really fast. Most of the time it moves slow, but because there's so much money involved, slow moves can absolutely take you out. And in this particular case, somebody's bond investors can have some losses, that's for sure. Just on the refinance. Yes. Dow industrial's up 68, Nasdaq down 38. Definitely, yeah, that's right. That's the P05. Come right back. 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Right now you can get a two-week free trial to the opening call, Basel'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 Basel's newsletter of 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. The industry is up 76, Nasdaq's down 34, S&Ps are off, is up six and a half. And yeah, this is, haven't heard of these guys for a while, but this is a big name that's going BK. FTD, right, it's a flower delivery. Looks like that they file bankruptcy, selling the assets and things have just gone downhill. It seems since we fast forward a little bit. Now interesting tidbits, 872 full and part-time employees. They pretty much just a technology company subbing out those orders to local flower shops at a hefty premium of price, which I think consumers have figured out. So they bought pro-flowers in 2014 for 400 million, but the company struggled to integrate the two businesses and 120 million of debt that it took on to fund the acquisition became increasingly burdensome. And they just go over liquidity evaporated, falling sales, I guess they missed, for Valentine's Day they were hoping this year that would give them some cash, liquidity, pay off some of the debt, nope. They also had a tough Mother's Day they went into. So nonetheless out of business, man. Wow. Yeah, significantly missed their 2019 Mother's Day forecast pushing the company into bankruptcy. Yeah, it's a tough, you know, and I've looked on there before, I think I've purchased things on there before going back and it's a hefty premium, man, just versus calling your local flower shop or something like that, hefty, hefty, hefty premium. Yes. See, so, and the age of information, that information is that powerful, which is great. The other side was always amazing because I've called local flower shops, whether it's up in Boston, right? And on like a Valentine's Day or even a Mother's Day, I can't remember the last time I called, they're busy and they can't do any more same day orders. I'm always flabbergasted that they can't handle, and I know it must be an obscene amount of inventory if it's like one day you can do business and turn away orders, I'm always like, how do you? Right. Anyway, interesting. Listen, folks, stay right there, we got Fast Market coming up next, and we got our man, Mr. Basil Chapman, that's Steve Rhodes, Dave White. You got it, sir. Thanks, Bob. Thanks, man. Well, don't get him, folks.