 The following is a presentation of TFNN The morning market kickoff With your host Tommy O'Brien Ready good morning everybody. I'm Tommy O'Brien with Tommy O'Brien coming here Good morning everybody Say happy Monday Happy Monday. What do we got Tommy? We got stocks. Where are they this morning? What color are they in the red? They're in the red That looks like target red doesn't it did you show them all your shirt? What's your shirt say? What's it say? Welcome to the jungle folks. That's right. Welcome to the jungle you tell him Welcome to the jungle folks. We're ready. Okay So we got Tommy he's in the chair again. He's ready. He's got his computer this man loves to work He'll love to work. Don't you you love working in daddy's office? He's doing his numbers folks. He's doing his letters. Let's jump into the market action this morning went to bed last night Futures in positive territory by about 20 25 points. Yeah about 10 30 11 o'clock last night going to bed saying hey Maybe we're getting a little bit of a reversal here off of the recent lows. We're pushing 43 50 gentle, please Not quite the case this morning as markets roll over to negative territory We have given up folks 45 s and p points from where we were trading out last night at 3 30 in the morning at 43 54 We're inching towards 4,300 right now. That's a 10 minute chart. We back this up on a daily Okay, and there's your action now. What's ironic is I was looking at this last night. I was saying is this the acceleration You know is this is this is this the acceleration Tommy? You are doing yours you're doing great, buddy. That's right. I got mine. You got yours, huh? We got two computers here. We're doing it And what I found myself saying last night as this bar had yet to take shape was We got two TVs, isn't it great Tommy? We got work TVs they're called monitors for the computer Monitors yes, and do you have McQueen and Mater too? Oh There he is Lightning McQueen a Disney property folks What I found myself saying is man, we just traded from 4563 and that's not even cherry picking the highs back here 4,600 change. Okay, we back out here We just traded from almost 4575 what's our high there 4566 down to a low of 4277 so you're talking about almost 300 points And we got a few days of reprieve and things are starting to accelerate yet again to the downside as we are off 15 points in the S&P's and that is after giving up some of the gains that we had overnight So be careful in this we've been talking about on this program folks when you take a look a little bit longer-term picture Okay, whether you're backing things up to An absolutely remarkable How about the fact that you got to go back a year to that spike low of 3,500 does that seem like 12 months ago? Time is amazing does not seem like 12 months ago, and I appreciate you bear with me folks We had a little bit of COVID in the house late last week early this week still potentially so throwing a wrench into things a little bit Everyone's doing great, but a little bit of isolation Just to be careful, and that's the reason why Tommy's been joining me for a little while So he's having a blast. We're gonna get him on the program More often no matter what is going on because he's a happy camper and We're gonna we're gonna think of maybe doing some specific segments That is what we'll talk about in terms of bringing Tommy on talking about toys talking about kids talking about YouTube talking about lightning McQueen When's the next Disney movie coming out for cars? When is cars for when cars for coming out Tommy? We've been watching cars three with Jackson Storm. That's a good one cruiser Amiris if you know you know But seems like they need another movie they did come out with a series But nonetheless we jump around I've been talking about on this program Okay, you take the two different trends here on a Fibonacci basis you look at the one-way trip gentle gentle on the computer Please we are now sitting right at the 382 of the pullback from the one-way trip of March 13th So that's an interesting important area that we're sitting at that's also correlates to the gap We got in June in the markets. Okay, we have it drawn on this one. No, I don't okay I Make sure hold on gentle, please gotta make sure I have a computer after this program. Oh There we go couldn't figure out what was going on and the laptop was on my desktop appreciate you bear with me folks Yeah, so here's the one trend that we're sitting at the 382 right now that's 618 lines up to about 41 40 You take the spike low of 3500 you throw that to the same trend to the higher level and you're talking about the 382 brings You about 4200 when we started talking about this We were 200 points away when now only 110 points away from that price level not out of whack man And that isn't a perfect area technically on this chart where it was an area of resistance It has turned into potentially an area of support if you make it back down there But nonetheless It seems like there's a lot of pressure to the downside we kick off October trading You back things up on a monthly basis And we got a little bit of a reversal to kick things off, but where are we gonna go next? Let's take a little bit of a picture Yes, Tommy. Hi, buddy Crewed 95 bucks at the price yesterday. I know what you see this. This is the price of crude Tommy for gasoline Yeah, we're sitting in 9104 up 25 cents. We jump over to gold 1853 gold struggling recently We jump over to the dollar index as you'd expect Dollar strength yet again pushing 106 50. That's almost the highs of last week and we jump to the conversation of The time yields going higher yet again Seems like we got a little bit of a reprieve for a few days last week and just like that We're pushing 4.64% on the 10 year right now And we're only one Thursday spike away from recent cycle lows. We're at 107 20 You're off 14 ticks on the 10 year right now. The 30 year is off 21 ticks even the two year Trade lower these are mammoth moves on the two year on a short-term basis, man Jumping over to that yield curve for a moment We have the two year right now at 5.1% up six basis points man six points That's a huge move on the two year on a 24-hour basis As you've just seen the constant shift to higher yield on a short-term and longer-term basis All right, we got a treat today folks. So if you were listening to my dad's program on Friday He talked with our man Peter Bruno Peter is gonna be beginning a new program today 2 p.m. Eastern time Okay, live to 2 till 3 p.m. Eastern time Peter's been around the business for some time he Has 55 years experience. Okay, he Did a radio program on the same program? Excuse me on the same station that was my my dad was on out here in Certain markets that they were in Nonetheless were privileged to have them. I'm excited for it the Wall Street money hour kicks off 2 to 3 p.m. Eastern time today that'll be live every market day I'm looking forward to that first program did it turn off there it goes It's back on so that's gonna be a 2 o'clock today folks check that out give Peter your attention and See if what he's talking about is up your alley because he talks about cycles He's got to do some great methodologies that he goes through And yeah, it's uh, it's it's exciting We'll have some live programming in that 2 o'clock hour leading into my dad's program at 3 But we got a whole day to go ahead of that man. We got markets in negative territory We got 15 minutes to go until the opening bell We're gonna be talking some Tesla when we come back as they're talking about deliveries in the third quarter Beating expectations will be right back If you're looking for potential trading setups in the stock market then rocket equities and options report is a newsletter You should try Tommy O'Brien delivers options and equity trades when the markets present them using a combination of fundamentals and Technicles 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 comm TFNN educating investors Everything in the universe is governed by the Fibonacci sequence. This mathematical principle is responsible for everything From the most aesthetically pleasing artwork to patterns in the stock market to stay on top of stock patterns You can take advantage of sign up for the Fibonacci 24-7 newsletter at TFNN comm when you subscribe You'll get a weekly report from veteran day trader Larry Pezzavento 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 comm educating investors Steve Rhodes started his trading career as a student almost 20 years ago and the student has now become the master Steve won the prestigious timer of the year award in 2018 and barely missed that mark again in 2019 Finishing it number two for the year, an amazing accomplishment Steve Rhodes is committed to sharing his techniques and knowledge with anyone who wants to learn And he shares his vast amount of trading knowledge every day in his mastering probability newsletter Steve's award-winning newsletter Mastering probability is delivered every trading day with updates throughout the afternoon Sign up for Steve's market newsletter Mastering probability and you'll receive access to seven of Steve's educational webinars Absolutely free at TFNN all our newsletters come with a 30-day money-back guarantee So you have absolutely nothing to worry about Visit TFNN.com and try mastering probability 30 days risk-free today TFNN 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 Tigresses for just $1 for the year There's no catch or added costs when you join our community of traders Sign up today to become a part of this educational community of traders Just visit the front page of TFNN.com Welcome back folks Tom O'Brien, Tommy O'Brien joining me today We got markets kicking things off in red territory S&Ps off by 10, NASDAQ 100 barely off by 12 Right now you got the Russell off by 5 You have your back Tommy That's right and we're going to jump to Tesla Tommy, Tesla Tesla shares dropping about $7 in the pre-market Even though they beat on deliveries is the headline out there 435,000 deliveries versus 430 Basically was what the market was looking for there During the previous quarter, Tesla reported total deliveries of 466 And production of 479 During the same period they beat that number in a big way But not quite what the market was looking for I guess Wall Street was expecting Tesla to reach 461 Deliveries for the period, they come into 466 But they're trading that stock down $7 As volatility persists on Tesla shares Back to almost the lows of last week which is 234 I talked about an article last week Tesla, the most shorted stock by market value In the market and the most volatile in dramatic fashion In terms of how many shares are traded as well You trying to get your paint buddy? Where's your paint? What you doing? Yeah Oh, what's that? Okay, what else do we have going on? Let's talk some rates again Can't get away from the men, okay? First, you have higher rates starting to hit the US profits That's Goldman Strad just warning Okay, this article out this morning as of 7.33 in the morning So, not exactly record breaking news No, you guys sit there for the show, okay? But guess what? We got a drink And what do we got, folks? You know what? We got a treat We got a treat, Tommy Of course we got a few treats to make it through the hour, huh? We already have breakfast What do you have for breakfast? You want to tell them? What do you have? Do you have a waffle? What do you have? We got to get some merchandise Some product I fell out of the seat No, you didn't fall out of the seat You're fine You're sitting right there Everyone sees you Look, there you are See, you got to sit down Look, you got to sit down There you are There's the man Look at this little tiger shirt Rawr Hey, hey, hey Sit down, please Sit down You're doing so good Yeah Do you want to turn it on you, you too? Were you watching dinosaurs? Oh, oh, oh, what's that? And I do appreciate you hanging with me, folks As we jump around, like I said You know, you make, you make doing in... Oh, what's that? Are they going? There they are, they're moving They're brontosaurus No, that's not brontosaurus So check out some of these yield numbers That's not brontosaurus That's not a brontosaurus He tells me, he knows, he's right It's amazing how many things you'll say When you're around a child That you think are correct And you're just generalizing I said brontosaurus That's not a brontosaurus He's right, that's not a brontosaurus What was it? Was it a raptor? No No, what was it? Dad Oh, that's a brontosaurus There it is Oh, that's a brachiosaurus Brachiosaurus That's what I'm talking about, right? No, that's not a brontosaurus That's brontosaurus Is it? No What? That's brachiosaurus What are you doing, mister? That's brachiosaurus Brachiosaurus So check out the borrowing costs Tell me, we're going to talk some brach... Ooh, look at those Borrowing costs for the S&P 500 companies We'll see if we can make it through Dad, dad, dad, dad, dad, dad One segment I think is going to be perfect Dad, dad, dad, dad, dad, dad, dad We'll be right back No, we're not going away just yet Don't you have a fun time on the show, Tommy? Do you have a... Yeah, do you have a fun time on the show? He wanted to be in here all weekend Practically, folks, in my office I had to drag him out of here Because he wants to work He loves it So for decades, falling interest costs And greater leverage have accounted For nearly one-fifth of an overall Overall 8.8 percentage point Increase in the return on equity Dad, dad, dad, dad, dad, dad, dad, dad, dad, dad, dad Tommy, we got to do a little bit of work In our show Hey, I'll tell you what No, that's why I put you in here today Hey, do you want some Pringles? Oh, Pringles Yeah, should we have a little snack? Let's see if we have Pringles Excuse my reach Do you want Pringles? Yeah Now, like I said It's not a real big snack household, folks We keep things in protection They say clothes Those are yours, huh? We always make sure we have breakfast first We eat a lot of fruit We eat a lot of yogurt Tommy loves the Manila yogurt We eat blueberries, strawberries Bananas are a big one as well Mac and cheese, peanut butter and jelly But occasionally you have a few snacks Everything in moderation in life, folks So to recap that one again Because this is a real number I want to go over For decades, falling interest costs And greater leverage have accounted For nearly one-fifth of 8.8 percentage points Increase in return on equity So the return on equity Has gone up almost nine percentage points And over that time That's been 20% of that Has been made up for leverage, okay? In the new higher for longer rates environment The key risk for S&P 500 return on equity Will be higher interest expense and lower leverage Shouldn't be too surprising A scenario in which interest expense Interest expense and leverage persistently Way on return on equity would be a departure From the historical trend Okay, now what you have up here is you have The S&P 500 forward return on equity In the black, and you have the price Of the S&P 500 in red Seems like we might need a recalibration To the lower end there if that's the case Okay? That's a big dinosaur, Tommy Look at that, what's that? Now what they do talk about here Is that, you know, strategists have started to look at Some of the stocks they've done pretty well, man Some of those stocks talking about the ones That are not as vulnerable You want your T-Rex? We'll go get him at the break, okay? He's out there, we gotta wait for the break We got about three minutes and we'll go get your T-Rex, okay? You're talking about companies like Cisco, Costco, Paychex We're hanging in there, folks, I appreciate it We have to wait for the break, we got about I know, but we gotta wait for the break We got a couple minutes, okay? Oh, look at those, what are those, Tommy? Should we show them some of your dinosaurs? Let's show them what you're looking at Wanna see what he likes looking at, folks? Now this is amazing This is a game, you see how What was it, Twitch, right? That's right, Tommy So what he loves watching is The Jurassic World video game Which I'm not even sure where it is But, so what he loves watching is And we're gonna have to get you on this video game, huh, buddy? Look at all these good dinosaurs We're gonna get through an ad real quick So here is kind of a brief glimpse of the type of videos Isn't it cool to hear? Isn't that cool, Tommy? We showing them? That's a cool one So this must be... I want that back You want that back? Which one? This is Jurassic World Evolution 2 I believe that's a game And look, they just go over all the different dinosaurs Can you pronounce that for me? Karcherodontosaurus? Karcherodontosaurus Karcherodontosaurus, Tommy Karcherodontosaurus That's right, Karcherodontosaurus That looks like a big one, huh? Oh, there's two of them The cool part is you learn about the dinosaurs They talk about the names They have them featured there A lot better than some of that crap programming The kids get lost in And they get lost in YouTube I want that back All right, folks, we're coming back for the market open We're coming right back? Tell them we're coming right back We'll be right back, folks Currencies, commodities, and bond markets Are as important as ever right now With how they're driving the volatility In equity markets across the globe Which is why it's a great time to try out Teddy Kegstad's Tiger Forex report Teddy Kegstad breaks down the Forex markets Every Monday using his 30-plus years of experience As a trading veteran of futures, Forex, stocks, and options Teddy releases his weekly Tiger Forex report Every Monday morning with coverage Of all the major currency pairs Including the Dollar Index, the Euro Dollar, Pound Dollar Dollar Swiss, Dollar Yen, as well as many more And he also has weekly coverage Of the crude oil market and the 30-year T-bonds As they both influence Forex markets tremendously When you sign up for the Tiger Forex report You also gain instant access To Teddy's 60-minute Webinar Archive He just hosted Forex Strategies and Fundamentals What is behind the Tiger Forex report For all the details and to start your 30-day Tiger Forex report subscription today Visit the front page of TFNN.com TFNN Educating Investors Currencies, commodities, and bond markets Are as important as ever right now With how they're driving the volatility In equity markets across the globe Which is why it's a great time to try out The Tiger Forex report Teddy Kegstad breaks down the Forex markets Every Monday using his 30-plus years of experience As a trading veteran of futures, Forex, stocks, and options Teddy releases his weekly Tiger Forex report Every Monday morning with coverage Of all the major currency pairs Including the Dollar Index, the Euro Dollar, Pound Dollar Dollar Swiss, Dollar Yen, as well as many more And he also has weekly coverage Of the crude oil market and the 30-year T-bonds As they both influence Forex markets tremendously When you sign up for the Tiger Forex report You also gain instant access to Teddy's 60-minute webinar archive He just hosted Forex Strategies and Fundamentals What is behind the Tiger Forex report? For all the details and to start your 30-day Tiger Forex report subscription today Visit the front page of TFNN.com TFNN Educating Investors Sharpening your skills as an investor Is like getting better at playing a musical instrument You have to practice, sure But you also need excellent instruction from experts At TFNN, you'll get advice and guidance From the authority in technical market analysis And it's not just dry, tedious text, either TFNN airs live financial content Streamed live on TFNN.com and TFNN's YouTube channel with Tiger TV Live every market day from 8.30 a.m. to 4.00 p.m. Eastern For free! Each host is an experienced trader And gives their take on the market while taking calls And questions live from around the world From the moment the market opens until the closing bell sounds Tiger TV has 8 different shows with expert hosts To help you make the right moves with your money Watch online at TFNN.com Or on TFNN's YouTube channel And become the investor you were born to be TFNN Educating Investors Don't forget, you can listen to TFNN Live on your mobile device 24 hours per day Go to TFNN.com and hit Watch Tiger TV That's TFNN.com and hit Watch Tiger TV Showing those Pringles, Tommy Welcome back, folks We got the S&Ps down by 10 As we kick off the trading month of October You got the NASDAQ right now Off by 9 points, Dow off 85 The Russell off by 7 We jump over to Tesla On some of their delivery news Not living up to quite the expectation We'll get you more Pringles, buddy We got Tesla shares off 2.5% this morning Trading at 2.44 Oh, we gotta get McQueen Here we go Let's get McQueen, folks Can't be without Lightning McQueen And his good friend Mater Tomater, huh There we go Tomater, huh Yeah Have a few chips A few snacks in the morning For 9 o'clock in the morning, folks You gotta realize We're up at about 6 o'clock in the morning Okay Now, let's jump around to some of these articles We've been talking about rates The interesting part is That was just a Goldman analyst When we were just talking about what Higher rates starting to hit the U.S. profits Goldman strategist Excuse me, not analyst David Costin, okay Notable to some degree Goldman sees earnings-led rally In big tech stocks after the route Okay I was trying to get the name on this one So this is just strategists No, this is Costin as well Yeah, including Cormac Connors And David Costin, okay Now, what they talk about here is that The valuation gap versus the rest Of the S&P 500 is wide History bodes well for tech stocks To outperform Well, that shouldn't be too surprising, okay But they just had a tough year Excuse me, a tough month The sell-off has led to historically Cheap valuations for the tech stocks At a time when earnings estimates Are still rising, in particular They point to a valuation metric Known as the PEG ratio Which calculates price relative to earnings And long-term growth Goldman's analysis shows the largest Seven tech stocks have a peg ratio Of 1.3 compared to 1.9 For the median S&P 500 stock Which one do you want? The dinosaurs? Yeah Oh, that one, okay Hold on, I got it for you That's a good one, Tommy They got to play an ad, of course, first Oh, there you go Yeah, this is a different one Want to do that one? These are all live Want to do that one? That King Kong? That King Kong The divergence between falling valuations And improving fundamentals represents An opportunity for investors, okay And there is the ratio that they're talking about there The median, that's the peg ratio Mega cap Tech versus the S&P 500 Okay And you're looking at it Where, I mean, what do you got to do? You got to go back to what, 2012, 2013 So, interesting, nonetheless Overall analysts expect Tech earnings to rise 4.3% The third quarter compared with a year earlier I mean, it's big numbers All right, what else do we jump into? How about commodities? Just seeing how the ripples Of everything going on Far reaching areas of the market The UAW strike hits demand for steel Lower demand for auto steel adds pressure To tumbling steel prices So the reverberations fell pretty much everywhere In this market And this one, we're going to see how it plays out The Hollywood writers, they seem like They potentially have a deal But when do we get that news Potentially on the auto workers? Not sure that's going to be the case anytime soon Interesting article out here From the journal over the weekend They should be spending less by now But that is not the case They kind of just have a bunch of anecdotal Now this is anecdotal They go over some of the specifics Americans spent 5.8% More in August than a year earlier Now that number is what? The personal consumption expenditure Is what they're going over there But they spent 5% more In August than they did a year earlier And inflation was at 4% So they're beating inflation Delta airlines, record revenue in the second quarter Ticketmasters selling over 295 million event tickets In the first 6 months of 2023 Up nearly 18% People are going to concerts, they're going on airplane trips Right? Now, what's interesting here Is that they go over and this is where it gets anecdotal Alright, they're cherry picking People and going over instances But they're interesting And the reason why these people are spending Are somewhat interesting and not very good They're going to a wrong hall They go over one gentleman Ibi Hussein Maybe I'm pronouncing that correctly He works in marketing for a financial communications firm Works in Brooklyn He pays $3,000 a month For a property That would probably cost a million dollars to buy At current rates he'd need $200,000 down payment And $5,000 a month after that And it's not even that nice in the apartment Instead of saving He's just going to spend it all right now As expected So, you go from an area where Unfortunately, you're so far out of the realm Of being able to afford a house That this gentleman is stopping Saving and just going to live up His life by buying $1,600 Taylor Swift errors tour tickets And then $3,500 on a bachelor Party trip to Ibiza I might as well enjoy Just enjoy what I have now, he says No fault in living like that, man Kudos to that gentleman One million percent Overall in the economy though I'm not sure that's indicative of a strong economy If that's why consumers are spending more now Because eventually that does catch up Right? I'll do this one Okay, there you go Which one? That one? Oh, you want that one? Those are Legos, Tommy Yeah, we haven't quite gotten into Legos yet You know, I'll tell you folks Tommy and I, we love crews and Target occasionally We go to the toys section We basically ditch it all before we leave there But it's kind of like the Toys R Us experience Of old, right? Target's got a pretty good toy section Nothing like Toys R Us It's unfortunate, you never got to experience Toys R Us, Tommy Maybe they'll come back in some form We walk around, we have some fun toys At Target, they got a good deal going on Target right now, haven't Accessed this deal yet But if you are looking for toys For If you're looking for toys even early in the holiday season So I think what's going on is Target is always trying to Compete now with Amazon Prime, etc, right? Prime's got some type of sale going on They got so many sales now on Amazon That I can't even keep track They got some sale going on October 10th and 11th Let's see, there's probably going to shove it in front of my face when I pull it up Nope, I just went to the Amazon homepage This time, they have not put it in front of my face But nonetheless They have a big sale coming up Because occasionally you have Target and Walmart Beat them to the punch a bit So they have a deal going on for the next week If you spend $50 You get $10 off of toys If you spend $100 You get $25 off of toys So if you can go in there and find $100 And not blow out $200 to $250 You got your juice? You got your drink? Oh, tip it this way There you go It's a pretty good deal, $100 And that just started in October, so you spend $100 You get $25 off Not a bad deal, you got kids, you got grandkids You're locking in some Potentially Christmas shopping, because it's starting, man Right, we're coming into fall Thanksgiving is next month Christmas is the month after that What's that? That's your bath bubbles, huh? Put a toothbrush Your toothbrush, so I pulled up Amazon of course And now he's got everything on Amazon That we usually purchase in terms of our order history Alright, we got the markets in positive territory We catch a little bit of a lift We're gonna be coming back We still got a lot to talk about, folks We're gonna do a little bit of a speed round as we jump through Some of the action, we're gonna talk about Riviant How about Riviant? They're losing $33,000 A car, $30 grand A car for every car they produce You might think that if you want to be successful at trading in the stock market You're going to need a crystal ball After all, it's impossible to predict the future, right? 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TFNN hosts While they analyze charts During their live Tiger TV programs And join an interactive trading community With hundreds of members exchanging ideas Interact with other tigers and tigers As they share trading ideas News analysis and discuss the market action All trading day Even at night and on the weekends The Tiger's Den at Discord is accessible On mobile or tablets as well So it's always at your reach To sign up today and become a part of this educational community Of traders Just visit the front page of TFNN.com This program is brought to you by Vista Gold Traded on the NYSE American And TSX Under The Symbol VGZ Welcome back folks Some great discussions going on in the Den Listen I can't fault you know you're young Then you got you know no family No kids once you have a Children folks and you got depended Hold my drink cheers you want cheers Cheers cheers everybody Cheers them there you go But again too you know the ski bomb traveling I mean this guy is working in marketing In New York so it might not be exactly That he's just blown out He's going to 16 You see that drink he's going to 1600 He's going to $3,500 Ibiza trips not exactly Like being a bum Ski bum But you see that Should we get that that's a nice That's a nice cup Tommy you like that Let's show them let's show them what we're looking at folks We're gonna do a little bit of product review Tommy If you're looking for a cup For a two year old out there That's something we could take some water With us on the road right maybe to the beach We'll see but he's liking the he's liking The trucks cup that's what popped up there on Amazon So that's what we're checking out Camelback one of the great brands out there For Sora so sure it's well made Jumping back to some of the other examples In this article Isn't that nice You can do your paint right here okay There's your paint Here it is ready There's your paints Which one are you gonna do Now check out some Of the other examples in here which is why I'm like Come on man really these are the anecdotes of people Spending more there's more than this going on out there But if this is the real deal and I don't I don't know it's just Interesting that you cherry pick a few people And these are the people you choose So we had our gentleman Ibi Hussein who's out there blowing $1,600 on Taylor Swift tickets and spending $35 on $500 on Bachelor party trip and I don't blame him For not wanting to save $200 down and $5,000 A month to live in an apartment that he thinks It's not nice come to Florida Ibi Come to Florida man right This is what's going on okay I got friends in New York I'm from Boston It blew my mind folks almost 20 years ago When I moved down From Boston area to Florida And found an apartment in Largo Florida What three miles from Clearwater beach is that good Tommy Chugga baby And I was Paying just about $500 a month for that Apartment does not I had a pool in the Complex right these are things that matter Now what they also talk about is the travel boom Well here's the next example A couple Who's the wife Just quit Her job to help care For her 8 year old son We see it Tommy hey no yelling please Okay So she quits her job to help care for The 8 year old has special needs man That is a tough situation so You got to make some tough choices Yeah you see the top On the beach too But then it goes on to say that we didn't have the money And we were like let's just do it anyway So they booked a $10,000 vacation including $3,000 $1,000 last minute Tickets 10 nights At a 4 star $400 hotel And they cancelled some subscriptions And cut back on I finished my drink Tommy Thank you So they're somehow Sending $10,000 on a vacation last minute Oh hey we got it we got it Everyone's watching us you want to see Let's see us come here no no no I got to use the mouse I got to use the mouse That's your mouse Tommy Yeah we're going to find us okay Where are we No I have to control That's your mouse Yeah Oh buddy Oh what do you got? Your Spider-Man Oh And then they go down the line to one more example That you have Spider-Man Yeah this one's not Spider-Man Tommy You got off a let's go over here That's it that's it You know what Google does very well folks That's frustrating to kids is They have promoted videos Right that look like a video That's the best thumbnails in the game Of course they do because they're paying for that Promotion Oh look it's a fire truck Look it's a fire truck Spider-Man Let's see if we can find him Okay we're going to jump around let's go to Rivian You get the point people are over spending That last one in there was just that They're booking basically vacations That they can't afford even after that one Okay you have Yeah a couple that decided They're home travel the country with two young children Nonetheless The point's been made so we jumped to Rivian This one is interesting man so this one Out this morning as well from the journal Rivian's quest to build the ultimate truck Burns through billions now This is a lesson In patients Okay here's Rivian down to 20 bucks earlier You take a look at a longer term chart You go public And push this thing up to 179 I remember joking at the time saying Imagine going on the program Shark Tank And saying I'm pre-revenue I'm pre-revenue But I'm looking for an 80 billion dollar valuation Okay that's what this company was doing They went to the public and they said We're pre-revenue they said we got to deal With Amazon though And we're pushing it's still a 22.7 billion dollar company Okay and it was trading at what Yeah it had to be if it was at 180 I mean even taking 120 Okay because it got above that for a month But if you put this thing on a daily No it's got to go back further wow So it was up above 120 For only four or five days Okay but even 120 Puts this thing at almost 100 Billion dollar valuation let alone whoever Was buying this thing at 179 pre-revenue Pushing what 150, 160 billion dollar valuation Yeah be careful When you're buying into a company with that valuation That has not even taken in revenue We're not talking about profits we're talking about Revenue okay Now what they talk about here is man these cars Look awesome zero to 60 In three seconds $80,000 Is the average Yet they're so expensive To build Yeah we're gonna try and find Spider-Man You're doing so good I know You're hanging in there We're finding them look ready Here he goes Which one Which one do you want Yeah we want the real Spider-Man The real one We want the bicycle What about that one That's most of the source What about that Spider-Man What about that one Is that a shark That's a shark So they're losing $33,000 on every vehicle They're sold selling them at $80,000 It's roughly the starting price Of a base model of the Ford F-150 How much money they're losing per vehicle I want my most of source Investors piled in You want your most of source I know you're hanging out buddy I want my most of source Well we gotta get them at the break We got all our dinosaurs in the living room Oh Tommy here it comes It's gonna eat the shark They're gonna eat it Is it gonna eat it So in two years Rivian has blown through Half of its $18 billion in cash Hey look Okay look Wait he took off the hook Oh he took it off the hook I know So at the end of June Rivian had only built a total of around 50,000 vehicles A fraction of what other companies are building of course And it aims to produce 52,000 vehicles this year There's your share price that we just covered The IPO was $78 And be careful of that equity We're gonna start the volume You want to start the volume Folks we got one more segment Thanks so much for being patient Come on back and don't forget about the Wall Street Money Hour Two o'clock live today with our man Peter Bruno The inaugural program Check it out at two o'clock We'll be back to finish up the program folks Stay tuned The Gold Report As a precious metal gold is still king It continues to hold the most 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Up 1% That'll put a lift in the market Microsoft, up half a percent this morning We jumped to Tesla on their deliveries Clowned back a lot of the losses Still off almost 2% though NVIDIA, the AI poster boy I did Tell them Elasmosaurus That's the Elasmosaurus This is the T-Rex folks Jurassic World I was saying to my dad last week And during the program, pretty remarkable You have Jurassic World That they corner the market on Dinosaur toys They get a cut of everything Jurassic World Meanwhile, we're just buying T-Rexes But somehow they're Jurassic World T-Rexes We'll get the T-Rex after the show I appreciate the patience of tuning in It's an interesting one Like I said, we got a little bit of COVID in the household So babysitters not as easy Daycare, of course, not happening When you got COVID everywhere, no matter what Yeah You want your drink? Okay So it's been an interesting few days And we're going to create a time slot for Tommy On the program, but I appreciate you hanging in with me for the hour Because there's only so much we could do But guess what? This afternoon As I mentioned In a brand new program, our man Peter Bruto Two o'clock p.m. eastern time So right before my dad's program Check it out I'm really looking forward to this I think we're very fortunate to have Peter in that time slot Filling that time slot from two to three The Wall Street Money Hour And Peter has 55 years experience, folks He founded the Institute of Wall Street Studies in 1978 Offering public seminars To empower investors with knowledge He deals with cycle analysis He deals with artificial intelligence Allowing the power Of those cycle analysis to go forward He has the Wall Street Money Letter Which is going to be available on TFNN as well That's a weekly publication But check it out today, folks Two o'clock till three o'clock eastern time He'll be there live and you can call in Ask him questions Looking forward to another voice Added to the TFNN lineup Live programming all day today, folks We got it back In positive territory Say bye everybody We're done Bye everybody