 The following is a presentation of TFNN, the morning market kickoff with your host, Tommy O'Brien. Good morning everybody, I'm Tommy O'Brien, coming to you live from TFNN, 8.30 AM Tuesday morning, 60 minutes to go until the opening bell, and we got market starting off in positive territory yet again. We have the S&Ps as high as 3,075, just within the last couple of hours. Right now S&Ps, positive by 13 points, you're trading at 3,068, NASDAQ futures, positive by 31, trading at 96, 26, NASDAQ right up there near all-time highs, Dow futures up 141 points trading at 25,604, we've got oil up 71 cents at 3615, the 10-year yield, 0.68%. We'll start things off, jump over to the chart of the volatility index, the VIX. We saw a spike early, early yesterday overnight of 3060. As the market charged higher, the VIX pulled back, we're now with a 27 handle of 2762 for some context in the longer timeframe. The run-up and the run-down, it's kind of been hovering right under 30, for a time period we did get that spike on May 14th, but that was a quick one up to 40 and back down to that level, and you see we're floating with levels that we were actually at as early as February 25th, you have the VIX climbing to above 30. Start things off, let's jump over to the charts, we'll start it off with the Dow. You back things up, there's the close of action yesterday. You trade a little bit lower to begin the overnight session, from midnight though, the run higher begins. We trade from about 25,300, now trading 25,611, NASDAQ 100 makes it as high as 9668, currently trading 9623, we finished yesterday just under 9,600, S&Ps 3,068 as I mentioned, made it as high as about 3,075 overnight, you see where we finished yesterday's trading action just above 3,050, crude oil trading higher, reached a high of about 3650, crude trading at 3618, there's your gold contract, gold even in the last few minutes, selling off a few dollars, gold trading, pretty healthy price level of 1747, actually made it up to above 1760, early, early yesterday, and again, we hit that level middle of the day at 1755, at about eight o'clock, 1756, and we're within $10 of that price level, and the Euro-US dollar, again, some Euro strength, dollar weakness, continuing that trend, recently Euro at 1163, maybe this chart will do it, I mean, you put this, you go back, check out that run. Right, this is the Euro, and it would be inverse to the dollar, I mean, the Euro just on May 25th, was trading at 10870, we're at 1163, in terms of what else we have happening in the market, stocks making moves, so Dick's Sporting Goods, out with their numbers, $1.71 a share for the first quarter, wider than they lost, excuse me, they lost $1.71 a share for the quarter, market was looking for a $0.57 a share loss, revenue and comp store sales also missed estimates, Dick's e-commerce sales surged 110% during the quarter, and the retailer added that the current quarter has gotten off to a strong start, DKS, as I mentioned on the show yesterday, you're trading a little bit higher on those numbers, and there's your volatility up to $38.40, down to about $35.50, we're currently sitting about $0.50 higher at $3701 right now, bid offer, bid ask, excuse me, $37 by $3704. Lululemon, so they get a downgrade to equal weight from overweight, saying the stock's risk reward profile is now balanced after a 125% run-up since mid-March, Lululemon, quite a rebound for them, and they get a little bit of a downgrade saying maybe we've rebounded a bit too much, because look at that, right? I mean, Lululemon, are they really perfectly positioned to benefit from people working from home and technology taking off? Athletes are where, I guess that's the deal, right? Everybody, you can wear warm-ups and you can wear whatever you want if you're working from home. $260, down to $128, we're sitting at $308 with a bid ask of $305.72 by $306, and for some longer context here, how about that run-up? The run really began, you back it up to about April of 2017, so we're talking about basically three years, you go from $44 to above $300, crazy. Land's End, in a preliminary report, the apparel retailer said it lost $0.64 a share for the first quarter, wider than the market was looking for $56, revenue slightly below forecast. Land's End said its company-operated stores have seen comp store sales growth of 14.2% in February before the stores closed in mid-March, so things were going well, that's quite a comp sale, right? 14.2, but then COVID-19 comes, things change, the world changes overnight, Land's End, they are in trouble. How about that long-term chart going back to 15, going back really, I guess to December of 14 from 56, you want to talk about a trend line, I don't even have to draw the lines, there's your upper boundary, there's your lower boundary, it leads to zero. Where it's 7.22, you're going to open a little bit lower today, but we just traded down, I mean, let's put this, yeah, look at that, from $18, is that the beginning of this year? That's Christmas, so from $18, and then the slide really begins for COVID at 11, down to 4.7, I would be very careful of that company. Starbucks, so in a bid to cut costs, you're seeing this across the board, I think these are going to become much more common, we got back-to-back stories here, Starbucks and Southwest in terms of offering workers some type of a buyout, trying to make sure you're cutting workforce, cutting hours, that's the scary part about this, right? We lose all these jobs, and the hope, whether it was misplaced or placed well, was that you could see a quick rebound and they'd all come back. A lot of businesses, folks, when you even have Starbucks, asking workers to choose between more limited hours or taking unpaid leave until at least September, that's three months. That is a long time, especially when we've already been dealing with woes, going on three months already. You back it up three months, you were at what, March 2nd? Yeah, and we really started this in the beginning of March, towards the middle of March. Florida, I believe it was about March 15th, March 17th is when that came down. Southwest offering workers bio packages and temporary paid leave in what CEO said is an effort to ensure the airline's survival. I'm sure it's a similar deal with Starbucks, you can't just be paying for workers when nobody is in the store at the same level of business that supported that payroll previously. Southwest has never laid off our furloughed employees and it's 49 year history. A lot of firsts going on in the market. We'll take a look at Starbucks to start it off. Now this is going to be a yearly, there's some volatility for you. Starbucks, actually one of the earlier companies hit because of their exposure in China before things hit the US. So there's January, there's a little bit of sell off. Here's where the sell off begins in the US, you go from 90 down to 50, we're back at 78. You're going to open a little bit lower at 77.71. You see the action on them and you also have love, Southwest. Actually getting a pop, 34.46 up almost a dollar from 33.62. But again, some context from almost 60 to 22.47 and be wary folks of these airlines. You want to invest a small, small, tiny, tiny portion of your portfolio that might go to zero as in your stop on some of these stocks should be bankruptcy because it's going to be possible. Checking back in on the markets, S&P futures right now positive by 14. We're trading at 3,068 and as we come to this first break, how about that NASDAQ? Check that out from 97.63 down more than 3,000 points to 66.28 and we're within reachable. We just traded to 96.70. You're talking about within 100 points. Stay tuned folks. We'll be right back. The front page of TFNN.com. TFNN has launched our brand new website. You can still visit us at the same TFNN.com URL. But when you do, you'll see a new and improved homepage with a much simpler navigation, whether you're watching Tiger TV live in high definition or just accessing your newsletter subscriptions. We even have new pricing in six months and yearly options. Check out the new TFNN.com now and experience all the upgrades. TFNN.com educating investors. move gold, which is the currency and bond markets. New subscribers get a 30-day money back guarantee so you have nothing to lose. Every Monday morning I publish the gold report with coverage of gold, silver, bonds, the XAU, HUI, GDX, as well as more than 30 different mining equities. To see for yourself the types of profitable trades that are recommended within the gold report, sign up now by visiting TFNN.com. Don't miss out on the next great gold trade. Sign up today. Are China A shares hot or not? If you trade China A shares now may be time to take a closer look. Trade CHAU or CHAD. Directions daily CSI 300 China A share bull and bear ETFs. China A shares in either direction. Visit directioninvestments.com today. An investor should consider the investment objectives, risks, charges and expenses of the direction shares carefully before investing. The prospectus and summary prospectus contain this and other information about direction shares. To obtain a prospectus or summary prospectus, please contact direction shares at 866-476-7523. The prospectus or summary prospectus should be read carefully before investing. An investment in the funds is subject to risk, including the possible loss of principal. The funds are designed to be utilized only by sophisticated investors such as traders and active investors. Distributor, four-side fund services, LLC. 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 for the latest market information. Tao up 150, S&P up 14. Right now you got the NASDAQ up about 28. Jumping into other equities with action, you get Apple cutting their iPhone prices in China as it seeks to extend the momentum it has enjoyed as the Chinese economy gradually reopens. So they're cutting prices, trying to accelerate on that momentum. Although Apple's own official Chinese website does not reflect price reductions, double-digit discounts can be seen on various reseller sites like, I guess, Tmall. Work, so Slack, they get an outperform and new coverage of Cohen, which is said to shift to remote work has given the workplace messaging platform a major booster shot that is underappreciated. And check out this chart, folks. Work is their symbol. How about a rocket ship even in the last week from $30 up to $40 overnight? You're at $37 up to $40 with that. But check this out, it's even bigger than that. You go from $28 down to $15 and we're going to open at about $40. I mean, it just seems like as certain companies, a company like this, yeah, you're competing with some big shots. But man, the whole world has to collaborate online now. Slack trading higher. Stitch Fix, they're going to cut 1,400 jobs in California, move some operations to a handful of lower-cost locations. Online clothing stylists said the move was related to the cost of doing business in California and not COVID-19. S Fix is their symbol. I personally never used this product, seen it advertised. Look at that, right? From $30 to $10 back to $23. We're trading a little higher today, $23.66 by $24.39. While we're on the topic of should have went there after work, but Zoom, talk about acceleration. You started this year out at $66 and you're trading right now at $211. I'm going to talk about some acceleration. We just went from $150 up to $212. So Zoom, not sure what's going on down here. We got some crazy drawing. Zoom with their earnings after the bell tonight. Whoops, I don't want to be placing that trade. Delete. $211.50 to $212. Remarkable, the acceleration Zoom has had just for some context. Again, you pull this back. There's been some volatility for sure. So here's where immediately people realized throughout this. This is the February 25th, 26th, 27th. That's where the market began to fall apart. You trade up to $160 back to $110, $180 back to almost $130. We go up to $187.80 was the high. And then this span of four days, you trade down to $145 almost, and you're back $211 on the price of Zoom. That will be a watched one for their earnings. I believe they're supposed to have revenue about $200 million. They're a remarkable thing, I believe. And I'm going to pull it up right now. Their market cap at this price tag, I think you're talking of somewhere to the tune of $55 billion. Let's check it out. I'm going to pull it up right here. Their profile, yes, at that closing price yesterday, the market capitalization of Zoom, $57.6 billion. So are they a great company? Yes. Are they going to be able to make the amount of money that you need to to have a $100 billion valuation? I mean, where's the potential upside here when you're buying it at a market cap of $60 billion? And who is paying for this product? Are you paying for the service? Because I'm not sure people are going to want ads flashed everywhere in their free service, but that's probably what's going to happen. But I don't know if ads can support a $100 billion valuation. Just start to think about those things. A company like this. And guess what? We talked about yesterday, they're going to be competing with Facebook, Google, Apple, all WhatsApp, all of these services having their own even Slack, that's all of that going on. There's no reason why Slack can't come up with a free service to be able to conference if you want and so forth. Go to meeting, etc. Thank you. Jumping back to the markets, S&P ticking back a bit, zooming in. So I've seen a little bit, we're now off about 10 points of where we're trading at about six in the morning. And jumping back to other stocks with volume. So in terms of credit card processing, Visa said US payment volumes fell by 5% in May, slower than the 18% decline registered in April and a possible indication that consumer spending is recovering. Always good to see that. In the world of online payments or money transfer, Moneygram is the target of a takeover bid by rival money transfer company Western Union, according to Bloomberg, no potential purchase price was disclosed. So MGI is Moneygram. There you see that news going from 250 up to 386. And I believe it's WU for Western Union. Yes, both of those companies trading higher on the news that they may become one Western Union up to about 2381 for some context. Yeah, talk about a tough was though 2845 down to 17. And for Moneygram MGI, 670 within the last 12 months down to $1.15 for them. All right, a couple other stories I had up here to cover. So the first one, and it's interesting how these tie together because KKR is the next one as well, private equity lands, billion dollar backdoor hospital bailout, KKR, Apollo, Cerberus own medical, they own medical services companies that receive no interest loans from the health and human services, okay? So this starts off with KKR, the coronavirus pandemic upended the system. IAH emergency physicians, a Houston staffing company owned by KKR, a little notice request from the government applied for $317,000 interest free loan. Or what this gets into, they approved the loan and almost $300 totaling more than $60 million to subsidiaries KKR owns. Shout out from many coronavirus relief programs, private equity companies have found a backdoor at HHS where they borrowed at least $1.5 billion according to Bloomberg. Remarkable stuff here. Now KKR, which is the crazy part, this story, because it's just remarkable how they all tie together. So June 2nd, let's see what the time prints are. When was this one up? Was this yesterday? No, both of them with June 2nd, that's what I hadn't seen them. June 2nd at 4 in the morning, June 2nd at about midnight, okay? KKR spends big and fast to avoid mistakes of 2008 crisis. Why not? If your private equity kept firm and you have $58 billion on hand, why would you not be spending like wildfire at great prices for long term growth when you're receiving interest free loans on top of it from the government? So to get into the amount of deals they had here, come on, cooperate with me. Where's my graphic? So they have, we'll get into it. In mid-March, as the virus lockdown came into force, KKR's infrastructure team acted fast by waste management business, very door limited for 4.2 billion pounds or 5.2 billion US. Biggest car vote of a publicly traded UK company since 2008. In a similar deal, will KKR agree to acquire Wella and Clare all beauty brands from Cody, 4.3 billion transaction, including a billion from Cody. KKR is also one of three firms offering to take control of Spanish phone carrier, okay, for 3.3 billion US. And they did, this just didn't load. That's what I was looking for. So here is the graphic, visually always easy to understand. That's the amount of money that they've spent. Private equity, outspending rivals during the virus crisis. And then pair that with all the money you're receiving here for backdoor hospital bailouts from HHS, interest-free loans. And healthcare facilities owned by Apollo, which started the year with about 46 billion, received at least 500 million, Serbers Capital Management, Stuart Healthcare System LLC, threatened to close a hard-hit Pennsylvania hospital, received 400 million, pretty remarkable looking at them back to back as they talk about KKR accelerating and private equity getting those bailouts. Stay tuned, folks. We'll come back to finish up the program. I'll be right back in three minutes. Stay tuned. Back in the day, I joined the Hotel California in 2006. And like many of you was drawn in by as well as whatever you think about, you bring about whatever you focus on growth. You see, I believe that everything in life happens for us, not to us. And Tom ignited the fire within me to want to learn how to master the markets. So how did I go from knowing nothing about technical analysis to becoming the number one market timer for the S&P 500 in 2018 and the number two market timer in 2019? Simply put, I hired coaches with a proven track record, which led me to a whole new set of tools that I created to interpret the message of buyers and sellers. I would love the opportunity to teach you this award-winning set of tools and help you improve your market timing. You can test drive my newsletter service mastering probabilities for the next 30 days with no risk to you. Plus, you'll gain access to archive workshops that'll take you step by step through my system. Sign up today by going to the homepage of TFNN.com and selecting Mastering Probability in the newsletter tab. If you haven't checked out the newsletters page of TFNN.com, what are you waiting for? All of the TFNN newsletters are informative, up-to-date, affordable and must have for every trader looking to gain a competitive informational edge in today's markets. TFNN newsletters cover every aspect of the markets to offer you the very latest in market news. Plus, new subscribers get to test drive our newsletters risk-free for 30 days. From all aspects of the markets, including stocks, bonds, metals, commodities and tech, there's a newsletter to fit your needs exclusively from TFNN. Stay informed each day you trade and get the competitive edge that will help you stay ahead of the game. Visit our newsletters page by going to TFNN.com and click the newsletters button near the top of the page. TFNN.com, educating investors. You know what's cool? Taking something that's good for you. Something specifically formulated to help with weight loss, better sleep, stress reduction and the need to detox. Nicar, hunter and gatherer ancestors found all their nutritional requirements for health in their wild environment. But today our food sources no longer contain the vitamins, minerals and nutrients our bodies need to stay healthy and strong. That's why we need primal edge daily nutrition. It includes a special blend of ionic, soil-based vitamins, minerals, fatty and amino acids in an easy to use liquid form. Primal edge is powered by highly concentrated folic and humic acids. Nature's preferred delivery system. They've been called miracle molecules because like sunlight, air and water, life cannot exist without them. That's right Paige, they ensure we receive all the nutrition we need to be healthy and thrive. We take it every morning. Primal edge, formulated and approved by Nico and Paige of Living a Primal Lifestyle. Buy it today for just $89. Click on the Primal Edge banner on the front page of TFNN.com. Don't forget you can listen to TFNN live on your mobile device 24 hours per day. Go to TFNN.com and then hit watch Tiger TV. That's TFNN.com and then hit watch Tiger TV for the latest market information. Welcome back folks. S&P futures right now, positive by nine. We got NASDAQ futures positive by 10. The Dow futures positive by 114. For some context here, I have the S&P up. This is our whole drive down to positive territory and we've seen some flushes down. I mean these bars, we're talking huge bars here. We're talking about right here, we're talking about 58, 68, 66 points. In that bar, that's over a 2% bar on the S&P. Right here, you're talking about 52 points from high to low, 51 points from high to low on the S&P and already the bar that we're dealing with has 35 points in the S&P and we're dealing with you back it up to May 14th. You're talking about only two red days out of, we're now on the 13th total day. So since May 14th, there's been 13 trading days, three, five, eight, 10. Yes, this being the 13th trading day since May 14th and we have only had two negative action days, red candles during that time. Keep that in mind folks, you could see a pullback. NASDAQ 100 trading to all time highs, that's believable when you have the technology well accelerating like it has. I'm going to remove that drawing since we can tell we're up back at almost 100% of that move. You have Amazon charging higher, some of the tech stocks look at that acceleration. Amazon's going to open basically flat this morning at 2470, Microsoft shares as well. But when you're dealing with an S&P that's approaching 3100, the all time high was 3,400. It's hard for me to believe that with a presidential election coming down the line in about five months folks, five months. That is going to be here before you know it. You have China trade concerns accelerating on top of that and you're going to tell me that the S&P 500 should be at all time highs. These 500 companies combined should be at all time highs with the country shutting down. Just be ready for some volatility because all time highs I struggle with. Being within about 10%, 15%, I can understand that long term, things are going to rebound strong, but be ready for some volatility as we approach these. NASDAQ 100, why not? We'll see what happens. Maybe it'll accelerate even higher to 10,000. Stay tuned folks, Larry Pezzavento coming up live with trade what you see at nine o'clock should be an interesting market open, live programming all day at TFNN. Stay tuned folks, we'll be right back.