 The following is a presentation of TFNN, the morning market kickoff with your host Tommy O'Brien. Good Friday morning everybody. I'm Tommy O'Brien, coming to you live from TFNN 9.06 AM Eastern time Friday. We've got about 24 minutes to go until the start of trading and we have all the markets catching a bid from where we were last night, where we were the close yesterday. Negative action in the S&P across the spectrum this week coming into the close yesterday quite the acceleration really coming into the close most of the day. You look at the S&P yesterday we start the day early in the trading day about 10.30 you make a high almost at 45.30 we'll call it. You're talking about 50, 5.0 S&P points you trade from the high at about 10.30 yesterday. We make a low just after the close last night we'll call it 7 PM Eastern time. The low there 44, 79, 25 or positive by about 19 points on the session right now 45.01 in the S&P's. Tech stocks a little bit of a different story. NASDAQ have been catching a bid when the markets had been fault during a little bit this week a little bit stronger than the other indices as has been the case. And yesterday though you got to sell off in the tech stocks but we're getting most of it back so far today. You're back to where you were before that sell off at about 1.15 almost in the NASDAQ 100 you see bumping up against that level right now. We're talking about 66 points in the positive almost half a percent for the tech stocks 15,617 the Dow had tough quite a tough week. You start things off at about 35,500 you trade down about 750 points to the lows last night. Now interesting you look at where we were in the Dow yesterday right in terms of early early overnight action you have the Dow at about 34,000 technically the low there 34,776 we get within 30 or 40 points of that price level overnight and just like that we're back up about 200 points in the Dow 34,921 the Russell positive as well by about nine points 2255 we got crude catching a bid look at that acceleration man this crude market volatility you could definitely be playing this on both sides of the market yesterday I was talking about my program from nine till 11 I did the noon eastern time update I believe it was and I said man remarkable that you got basically two dollars movement down two dollars movement back up and I didn't see it but guess what two dollars movement back down and then two dollars movement back up all within the span of about we'll call it 25 hours as that began at about 815 a.m. yesterday think about that right within 24 hours you're getting a two dollar move down two dollar move up two dollar move down and we get it all back overnight to 69 78 we're climbing towards that $70 price level in gold excuse me in oil gold contract just kind of sputtering along between about 1795 and 1805 golds down four dollars this morning you got silver down six pennies at 24 12 notes and bonds got a little bit of lower price and higher yield you got the tenure up two basis points 1.326 percent we'll call 1.33 percent in the tenure and let's jump over to the VIX as this market comes into the opening bell with gains we got a VIX pairing some of the action of yesterday we're sitting at 1747 right now all things considered you're talking about right near record territory putting the S&P on a daily basis I've talked about this trend line a couple of times on my program if you've been watching whether that starts from November 1st pretty well defined channel line when you look at the upper boundary line matching up the lower boundary lows correlating to where we were in March where we began in November those lows ticking across pretty pretty just awesome how they line up whether you look at the June pullback the July pullback the August pullback now we're getting a slight September pullback in the S&P's you're talking about a price level about 44.60 right near that level on the low hand side of the S&P's NASDAQ a little bit of a different story you go from where we were in November 1st where the market really takes off you make a low in March you make a low in May you take off to the top side NASDAQ kind of sputtering over the top here we're talking about how many trading days is that we're talking about eight trading days that you've had the NASDAQ just kind of chopping around above 15,600 or so we're sitting at 15,617 right now in those tech stocks all right what else we got going on let's talk a little macro here more strategists say a storm is brewing in the US stock market and it doesn't mean folks that the economy is in trouble it just means valuations in the stock market are getting a little bit out of control here global stocks may be entering a period of turmoil quote unquote is one of the quote strategies from almost all of the top Wall Street banks have come out this week with a nervous message about the US stocks I think was Goldman that started things off with a revision of GDP but the latest is Deutsche and Goldman Sachs there you go echo earlier announcement maybe was Morgan Stanley city group Bank of America and the risk that the correction is hard is growing that's a Deutsche Bank equity strategist including Binky Jada valuation corrections don't always require market pullbacks but they do constrain returns you know take that for what you will folks this is the valuation on the S&P 500 remain elevated this is a price to earnings ratio you're talking about quite an acceleration here you're back things up to where we were in 2010 11 you're talking about 20 to 22 times I think that number represents in terms of I think that's a forward number potentially even on the price to earnings ratio in the S&P a couple of quotes they have in there from from the analyst equity valuations at the market level are historically extreme and almost any metric you know I love combining fundamentals and technicals folks and you look at some of the fun you know technicals you look at the NASDAQ 100 I tell you the run this thing is had even from May folks you will from 13,000 to 15,616 you're talking about a run of 2600 points the NASDAQ is up 20% just since May the NASDAQ 100 think about that okay now the NASDAQ had lagged behind when you take a look at the daily we'll line things up to where we were calendar year you were flat from January to May in the NASDAQ 100 you compare things on the S&P 500 um find the year end here's our year you go from where you were in January to May right January you kick it off at 37.50 about you find May on this chart the lows there you were up at above 4,000 okay so you were up almost 10% coming into that number the NASDAQ has really accelerated from that May acceleration but we were in we were flat coming into that so I mean in that time you know what's happened in terms of if you've been watching the market company like Apple has gone from a price point of 123 to 154 you've had Google shares even in that time you look where May you were trading at 2213 we're pushing 2900 right now Microsoft another big one during that time you have a run in Microsoft from 238 to 297 some of these just a healthy pullback you see Microsoft chopping around above 300 that are there abouts a healthy pullback 280 that's a that's a $17 drop in Microsoft shares you talk about a healthy pullback in Apple what are we looking at let's put it right just from June just from where we've been in June talking about potential 382 retracements I like to kind of keep my eye on I mean that's totally in play and look where it lines up it lines up to just kind of the lower boundary of this maybe that's an area support 144 50 about call it 145 in Apple you could see a pullback that's a $9 pullback in Apple I've talked about it I'm pretty sure we got about 16.7 billion shares outstanding let's pull it up we got to get to the fundamentals tab it's loading 16.5 billion shares you do nine nine there you're talking about 135 billion dollar market cap hit just if Apple pulls back to this 382 retracement valuations are just crazy right now especially on some of the tech stocks going down the line on some of the quotes here because I think it's important to keep your eye on folks especially if you're you know a short-term trader long-term trader I guess goes as both ways you got to be aware of the valuations because you can't stretch the valuations forever it's almost like we've turned in I heard an analyst talk about last week saying you know everybody almost thinks that the only way that stocks go down is because the Fed that's just not the case at all stocks can go down even without the Fed let alone any type of table stay tuned folks we'll be right back golden ratios give shape to everything in our world represented in the Fibonacci sequence these special numbers define the patterns that make up our universe not even markets can escape the omnipotence of these ratios Larry Pezzavento is a 45-year market veteran who has published nearly a dozen books on the powerful patterns we find in nature and their relationships with the ever elusive markets Larry's newsletter Fibonacci 24 7 will teach you to harness the power of these natural golden ratios in order to create successful trades Fibonacci 24 7 is designed to teach the tools you need to identify and act on these undeniable and reoccurring patterns sign up for Larry's newsletter Fibonacci 24 7 and you will also receive free access to his trading webinar trading strong trending markets try out Larry's newsletter risk-free all of TFNN's newsletters come with a 30-day money back guarantee TFNN educating investors 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points of where that high were S&P you're talking about highs in the pre market of 4504 you look where we were 4 30 a.m. up at that price level at about 8 a.m. right near that price level right now 4502 continuing part of what I was talking about there if you jump back to I mean some of the quotes here just to make your allow you to wrap your head around some of the valuations here Andrew Sheets he's a cross asset strategist and Morgan Stanley not familiar with one of these any of these out excuse me analysts what they make some decent points we're going to have a period where data is going to be weak in September at the time when you have a height and risk of Delta variant and school reopening I agree with those risks folks and what I find so perplexing is that the market hasn't addressed any of the misses it had now on a three month basis averaged out we're averaging about 700,000 jobs added for non-farm payrolls that's a good number but we had a much higher average expected before the non-farm payroll that we got for the month of August and basically the market just shakes it off and says that's okay we were just wrong we're just going to push back those jobs you can only do that for so long there should probably be some calculation that the further you delay it the greater the probability that it's not just a delay and that that delay will persist longer than the market is anticipating but when the market just keeps going up even though those misses happen there's a huge probability in my opinion that the market is in pricing and the risk that it should that it's just not a delay and that it could be at least a delay longer than the market would like Savita, Subramanian, I think I got it you ahead of US equity and quantitative strategy at Bank of America S&P 500 has essentially turned into a 36 year zero coupon bond if you look at the duration of the market today it's basically longer duration than it's ever been that's what scares me is their quote the threat is that any move higher in the cost of capital via interest rates credit spreads equity risk premium that's basically going to be a huge knock on the market relative to the sensitivity we've seen in the past and I would agree we've seen the freakouts when the yields spike higher that's why we've had some of the NASDAQ 100 pullbacks folks I think yields are going to be higher in the next year I'm not sure how some of the big tech stocks are going to handle that just for a period of relative volatility after we've climbed higher in pretty remarkable fashion I mean you have to keep in mind it's almost hard to keep in mind that we just had the NASDAQ 100 trading at a price point of 6600 merely a year and a half ago 6600 we might reach 16600 by the year end let alone you came into COVID when tech stocks were the king of the world already with the NASDAQ 100 9700 we're trading at 15600 take COVID out of the equation folks and you shouldn't because the tech stocks have benefited dramatically and I know this is a big like fundamental um try and wrap your head around it but you have to try and remember that prior to COVID the NASDAQ 100 was at 9700 I mean you want to see what type of move is possible just going from pre-COVID levels to this run up a 382 from the 9700 and you know this isn't how I would set a Fibonacci because that's not the trend line but it is important to remember that over a year and a half we risen from 9700 to 15700 a 382 retracement of that would bring it down to 13500 you'd get a 2100 point haircut folks that's not out of the realm that would just bring us back to where we were trading at in May right just kind of this consolidation area in May 13400 and and the the multiples that you're dealing with all right I've talked about it I talked about it on zoom when they came out with their numbers zoom is a strong company we have some zoom and I use my newsletter rocket equities and options folks I encourage you to check it out under the newsletter tab and tfnn all the newsletters we do 30 day money back guarantee out there and zoom it's just the multiples they're dealing with I mean they're dealing with some crazy multiples when you look at a company all right I'm waiting for the fundamentals tab we're talking about a company right now that's valued at 88 billion dollars all right I think they're doing about four billion dollars in sales a year so that means to get you know if you bought 100 percent of that company to get that money back you would have to take every single dollar in sales they had for the next 22 years before you were paid back the capital that you put in to buy that company now the reason for that is that you should have some big time growth in that equity but even when a company is profitable even when they're making money and they're growing sometimes the valuations on the multiples get a little out of whack and they're important to keep in mind because people would say how can how can a strong company like that pull back right Kevin Hicks always has a great quote right at at at a certain price that any you know any equity at a certain price I'll be a buyer at a certain price I'll be a seller because even great companies get overbought even bad companies get oversold is the other side of that um so keep your eye on this because I think the story is going to persist and I think that we will see rising rates at some point in the near-term future and the risk versus reward ratio that we're dealing with with the market that I just said the Nasdaq 100 it goes from under 10,000 to 15,700 that's going from the pre-covid highs okay if you take the fear that push that index down to 6,600 you just go from 9,700 a pullback brings the Nasdaq 100 down 2,000 points from where we're trading at right now and you look at an interest rate environment where we have rising costs folks I mean we're seeing across the board in terms of the rent prices that are going up my dad sent me an article talking about rent prices yesterday going up record territory in the Tampa market 20% you're talking about if you've got somebody paying 1500 bucks for an apartment that means that apartment now is $1,800 that is $3,600 on a yearly basis after tax income right yes I had to wrap my I didn't say wait a second is that right that sounds like a lot of money yes that is $3,600 after tax income that a rent just went up for somebody that was paying $1,500 a month in rent prior to this raise $1,500 probably in the maybe in the median area of rent as in they obviously go lower they obviously go much higher if you're dealing with a larger household whatever it is $1,500 seems pretty reasonable now that reasonable rent is $1,800 point being folks inflation that's a 20% rise in a family's rent now we can write off rent right we're trying to write off oil prices as they're at $70 we're trying to write off food costs that have some supply chain problems going on that maybe not persist point being you see all those numbers folks inflation it's definitely possible and if you see the type of rises in interest rates that may be possible over the next year that's going to force the feds hand they're not going to wait forever if you get those types of rises and rent is not going to pull back those are leases signed you know you signed somebody for $1,800 and you had your last tenant at $1,500 you're not going back to $1,500 anytime soon it's not happening probably ever that leases signed for a year my guess is it never goes below $1,800 ever again and so there's a 20% hit to a family's rental income which is one of the largest bills you face and when you look at the median income for a family of four you just take $4,000 almost after tax out of that money that is a huge huge inflationary factor let alone the factors we're dealing with across the board whether it's cars and I imagine cars will pull back but just salaries going up right wages going up even on the miss on the jobs number last month we had wages going up so think about all those cases and how they play out on a risk reward basis doesn't mean the comeback is coming in the pullback anytime soon but man valuations are high when we're coming into a dicey period of time and now you're even seeing a lot of analysts kind of pointing it out in this market you know and there's always the potential for tax selling all right I think that people who are in the top stratosphere of income in the US they should pay a little bit more taxes I do but that's not going to stop them from selling and getting ahead of the curve which is possible as we end the year 2021 with some big gains in those markets stay tuned folks and be right back for the open are you having fun trading the markets but having trouble finding like-minded individuals to discuss your trading and investment ideas with become an apex predator in the trading market and join the tiger's den trading room only at tfnn.com the tiger's den is an exclusive trading room where 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still about 30 points off of where we were yesterday at about the same time just after the open you see the pop we got it 930 only lasted about 15 minutes we'll see where the weight goes today but nasdaq up 100 points even we got the s and p's you're talking about up 25 points dow up 204 right now let's jump around jump down the line excuse me with some of the stocks that are moving on their numbers this morning affirm boy this stock's bent on fire and they're continuing the run let's see how they open today pulling back a bit but still up 16 percent now we pull up the daily on this thing this thing was just trading august 27th at 66 dollars you jump higher on the news that they will be teaming up with amazon to offer a buy now pay later or buy now pay over install it plan type plan you pull back to 90 you got to pop up 16 percent on their numbers by now pay later companies revenue easily topped estimates active merchant numbers more than quant quintupled and affirm issued a positive outlook as well toyota now they i think they talked about 40 cut recently toyota was talking about because of chips cut at sandal production target by 300 000 vehicles as factories in vietnam and melasia were hit by the spread of the cova 19 an ongoing computer chip shortage toyota see they're actually positive pre-market maybe with the market up about two tenths percent there's their action uh they were up to about 182 but pulling back a bit what else we got going on uh wells fargo yeah they get another quarter billion dollar fine 250 million dollars by regulators who said the bank has not made sufficient progress in solving ongoing issues in its mortgage business regulators had first identified those issues in a 2018 order folks it's going to be 2022 in a few months talk about four years um shame on them in a big way wells fargo you're up 1.3 percent with the market right now jumping over to the banks you got the bank straight and higher jay bank of america up eight tenths percent right now jp morgan up about seven tenths percent right now continuing down the line uh davin busters out with their numbers they were positive pre-market talking about retail in terms of restaurants uh restaurant gaming they kind of merged the gap there in terms of social quarter learnings a bucko seven to share the market was only looking for 58 cents restaurant and arcade chains revenue beat the forecast that it continues to see sign of recovery in its business expects that to continue barring any significant covid related dart downturn that's quite an if to throw on the end but nonetheless i mean there's there's some covid out there right now i wonder how they're doing particularly in florida that would tell you how maybe in some other states although shutdowns a little bit more possible in other states than florida is well aware um but davin busters play is their symbol yeah 14.4 percent look at that pop on their numbers last night they were at about 35 dollars last night you take a look at the three-year weekly you got highs earlier this year though 51 dollars still well off those highs man talk about a pullback in this equity man uh you get back all the covid losses in terms of getting right back up to about 50 dollars the market says yeah not so quick as we figure out that it wasn't exactly the summer that we imagine it would be with the persistence of the delta variant out there all right jumping down the line and continuing to see what else we got going on just one second as i pulled this up and that uh what else i want to talk about uh take two they're going to delay a new version of its grand theft auto video game by four months saying it wants additional time to further polish the final products they maintained its prior full year outlook but shares down about two two percent take two is their symbol yeah down about two percent market does not like a delay four months nothing short um there you've given back and you're coming right into this area we had in november the lows of that area 151 what do we touch at today we touch it today 152 222 maybe that's where it finds a bid i mean we're right back to where we had some nice support there towards the end of last year for take two okay let's see what else i got pulled up in terms of talking about stories out there today we'll talk about a little inflation in terms of inflation producer price uh producer inflation accelerated in august wholesale prices rose a record 8.3 percent from a year ago i mean this is one of the stories i was reading this morning they kind of shaped what i was going to talk about for the fundamental aspect of potentially rising yields um in the face of markets at multiples that are getting kind of silly and even in some wall street analysts estimations uh producer price index increased 0.7 percent in august from a month ago the dow estimate was 0.6 8.3 percent from a year ago that's a biggest record since 2010 the move showed that inflationary pressures are likely to persist uh that came following a 7.8 percent move higher in july so we get 8.3 percent uh year over year for the month of august that follows 7.8 percent in july that's actually heating up month over um month on a yearly basis excluding food energy and trade services final demand prices increased 0.3 percent for the month the market though was only looking for a point was looking for 0.5 percent still that left core ppi up 6.3 percent from a year ago also the largest record increase but the market had been looking for a little bit hotter number core only coming in 0.3 the number 0.5 but you got to exclude food energy and trade services um final demand for services rose 0.7 percent for the month thanks to the 1.5 percent gain in trade services or the margins received by wholesalers and retailers transportation and warehousing costs on the rise 2.8 percent about one third of the overall gain came from health beauty and optical goods jumped 7.8 percent prices related to outpatient hospital care held back gains following 1.5 such a divergence here in the numbers right in terms of the rises versus the decreases um but when you look at you know tentative trends in terms of transitory I guess is the word everyone's using right a third of the overall gain from health beauty and optical goods I'm not sure that's a transitory rise I mean maybe health beauty and optical goods are just going to be higher and they're not going to pull those prices back even if the supply disruptions or the input good costs that are driving those to pull back you just might see businesses hold those costs folks because we have wages already rising right if you're paying employees and you think you can go back to a year and a half ago prices when that employee let's just say they live in Tampa now has a 20 percent increase in the rent they're paying those are factors that are going to influence everything folks when you have families anybody paying 20 higher rents across the board over just a year and a half ago keep that in mind there's no way that people are going to be paying 20 higher in rent let alone all this other stuff that's going in there right you want to buy a used car you're paying crazy higher you want to buy some some beauty goods you're paying eight percent higher um they're all going to persist to push those prices higher as we're seeing and I'm not sure they're going to be as transitory as some others think they may be all right what else we got going on why not let's talk a little football here we're quite a kickoff to the season of course I'm biased in a big way Tom Brady the king of the comebacks the king the goat entirely through his four touchdown passes two of those to Gronk that was numbers 99 and 100 to one Gronkowski and they have a comeback when great game did not catch the final I was asleep folks I wake up early that would that game finish at probably like 1130 or something I think it started about 8 8 30 watch the first half great game of football good to have football back um cowboys man kick a field goal to go ahead by one point with a minute left Brady comes on the field marches tamp it down the field they kick a field goal and they get it down pretty remarkable action over there um we'll talk a little bit as we wrap it up I got uh the New York Yankees doing from the the first something the for the first time since 1924 and it's not a not a good thing we'll talk a little bit with sports as well when we get back and we'll look back to the market stay tuned folks very back are you in the market for buying or selling real estate in the bay area including the surrounding st. 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give him back some of those gains actually about 100 points off the highs it had this morning we were up about 250 you almost reached 35,000 this is a 15 minute bar we got a high of 34,997 we're exactly 100 points off that high right now 34897 and the rustle positive by six points had been as high as about 2260 was a 2266 in the pre-market at about 430 a.m. this morning all right jumping back to some more stories we're talking about interesting opinion piece out here as well talking about john authors not familiar but a bloomberg opinion writer talking about a momentous shift is taking shape in the labor market now again we got a theme going on today i'm bringing it back to inflation the factors that are going into this economy all right faster wage growth for the low skilled has implications for economic growth inflation and joe biden's political prospects again an opinion piece but what i wanted to look at in here in particular is check out the wage rising for the low skilled exceeding those for high skilled by the most on record folks now you have uh the white is the atlanta fed wage growth tracker for low skilled and this is year over year increased percentage wise okay we go from about one to six i'm going to expand this chart so we can see it in completion you have blue the wage growth for high skilled okay mid price um and that's the mid price on that average wage growth now you look in terms of you back it up to the 90s to the 2000s you had high skilled gaining at six you had low skilled gaining under five you look at uh where we were in the peak of 2008 you had high skilled at just under five you had lows at under four and uh really things collapse of course uh to the pullback of 2010 you come into covid at a time when we were basically close to merging that and just like that things are really accelerated as you now have a flip over in price and folks you're going to need that is is you need that to happen when you have rent prices rising 20% okay because most of the time high skilled workers there's going to be a huge competition for talent for human capital out there in a big way um but there's also a competition for low skilled wages in the same way because people aren't going to be able to make the same type of money if they're paying 20 higher rents i mean we're going to see this play out over the next two months there's been a lot of debate about the unemployment benefits expiring september six that they were holding lazy people back that would rather take free money we know that's happening in some capacity okay but is it a big enough variable that everyone's saying it has been the huge impediment to jobs coming back we're going to find out in two or three months those jobs don't come crushing back in a big way it was not as big of a factor as some may have thought maybe the factor is is that people aren't just going to come back to the same job they were out a year and a half ago for the same amount of income um and you say you know the argument against that is well they have to people can't just go hungry you know there's a lot of uh soul searching over the last year and a half folks uh people can make do in certain situations with maybe not spending their life doing something they can't stand for an income that barely allows them to just move day to day you know you got kids in your house you got to take care of them you got to do that i understand you get the job done you get out there and work and make some money to take care of your family um but there's a lot of people that have that option right now that just kind of were through going through the daily grind i think just letting days pass and when you have 20 higher rent they might say you know what i'm not going back to the same job at the same pay if i had a low paying job if i'm not going to be able to even pay the bills i was able to pay then when i get rent prices up 20 i use car prices up you know etc i got food prices up etc um so we'll see how it plays out but for the third month in a row wages for the low skilled have risen faster than the high skilled there um and that's how that's quite a break from the trends we've had recently you look where we were over the last 30 to 40 years almost stretching back to 97s was that 20 24 years um almost 25 years um and early in 2010 it looks like was the one time you had that number cross as the market was really cascading to lower numbers in a big way that's something to keep your eye on yet again all right i said we're going to get back to uh little sports just interesting even in probability so the Yankees are on a little bit of a tough slide um they have of course i'm a red sox fan so we'll troll those Yankees fans out there a little bit um but for the first time since 1924 they never held a league a lead in the four game series they just had with the jays they've played 1250 series of four games or more and at least once during any of the four games they've had a lead um they've been in a tough skid in a big way when you look at their numbers and i think they have them down there yes they've lost six straight and 10 of 12 so they're in a slump for sure and i think they're just one game out now or one game ahead yeah uh they also pulled within half a game so they lost this series to the blue jays and the blue jays are now within half a game in new york for the final a l wildcard on thursday night with a six four win they capped a four game sweep we're coming into october um in baseball the rays are on fire this year Tampa sports on fire it's a bummer though folks uh they cannot put anybody in those seats and it really doesn't have to do with covid uh we got a great bucks organization of course uh champions we got a great you know Tampa Bay lightning organization in terms of the fan base let alone their champions as well the rays had quite a run last year there is just no support for that team in this in this area folks i hate to say we don't deserve uh a baseball team when they can put six eight thousand players uh excuse me people in the stands out there um the players deserve more than that you know and i haven't been to a game this year i'm not helping it either but you know most stadiums are filling with like 27 000 people right now and tampa can barely put eight six to eight thousand people in there when they got a team that's crushing it on their way to the playoffs unfortunate but that's where they sit right now all right let's jump around to some of the fang stocks see how they're trading this morning amazon shares up about a third of percent now we get the naztac 100 up six tenths percent right now s and p's up a third percent and you get the dow up two tenth percent we jump over to microsoft shares microsoft up about a third as well apple shares this morning apple is such a rocket ship up seven tenths this morning we jump over to google google up half a percent uh let's jump to some of the other stocks i like to take a look at even retail mcdonald's in the food sector up six tenths percent we'll jump to some of the biggest retailers out there wal-mart down two tenths percent we got target shares up about a half a percent so far this morning some of my favorite stocks out there disney having quite a week uh giving back some of the overnight gains disney's flat to 185 68 so far this morning i've talked about zoom zoom shares up 2.2 percent look at that pop on the open there zoom trading up and this is where folks you know you make trades you obviously can be wrong um but it's a nice acceleration now i'm going to put this on a five-year daily so i can encompass the full acceleration that this really had when you skyrocketed i remember their earnings call last september folks when this thing skyrocketed higher you gap away to the tune of you start off that day august 31st at 304 the next day you make a high of 478 folks that's almost $200 you hear that you go from 300 to 478 do you hear that again and then what happens you fill the entire gap back in may you trade higher to 400 again this thing accelerates lower to a price of about 294 and that is where we got into this equity folks looking for an acceleration from that we've gotten about an eight to ten dollar pop depending on where we got in after that drop we're up at 302 and i've talked about it you're gonna have some volatility in this equity but man it's nice being in a growth equity that makes money is growing is profitable nice margins yeah they're dealing with some big multiples but they are going nowhere folks zooming is here to stay in the future even if they're waning some of that growth so i had to pull back with that last stage and folks very back to finish up the show 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 and technical market analysis 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Petersburg, florida your investment can be anywhere from 100,000 to 500,000 do you want to make 1,000 per year on 100,000 invested or 7,000 per year on a secured target first mortgage the target first mortgage program may be just the program for you the target first mortgage program pays 7% per year paid monthly for more information you can call 877-518-9190 that's 877-518-9190 this segment is brought to you by think or swim for more information just click the think or swim banner on the front page of tfnn.com welcome back folks we're 24 minutes into trading and right now we got action in both directions look at this s and p right now s and p up only seven points we almost made 45 10 right there on the open 4509 25 you give back 19 points in the span of about 25 minutes since we open tech stocks holding up relatively well right now we're up 91.6 10th percent dow giving back 200 plus points on the open watch out folks and the Russell is in negative territory you got 15 points right there you jump over to the commodities crude up about a dollar 40 golds down four dollars right now and you have notes and bonds pretty tame action considering but markets selling off a little bit right now as they're saying over there in the youtube tiger's den are we talking about a race to the red it's possible folks i only have about two minutes left in my program but we could be in the red by the time the s and p's finish off that show we're six points in the green right now but the tech stocks as i say holding up well nasdaq up 85 points right now amazon shares up about four tenths percent apple shares look at apple holding up so well up about three quarters percent right there microsoft shares barely in the green up by about 10th google shares so far this morning up five tenths percent or half a percent we'll say we jump to social media facebook getting a pop up 1.4 twitter shares up eight tenths percent snap shares up seven tenths percent as well all right let's take a look at the vixx as this market oscillates in both directions yeah vixx catching a little bit of a bid from 17 we almost hit 18 just like that back in no time in bitcoin shares bitcoin shares bitcoin this morning remarkable we just been hovering right and around that 45 000 price point right you come into the short week at 53 000 el salvador they push out bitcoin for the first time in terms of recognizing it look at those six one eight folks keep the three eight twos on your radar keep the six one eights on your radar doesn't mean they're always going to happen but they're great points to kind of set your trade put your stop on the other side you know if you're wrong right away and sometimes you get some quick reversals on these numbers in a big way of those three eight twos all right folks thanks so much for starting your day with me stay tuned we got our man basal Chapman he's up with the tiger technicians our next fax market at 11 larry pesevento steve rhodes dave white tom o brian all this afternoon on friday we got a two-way market right now s and p's positive by 10 mazdaq positive by 95 stay tuned folks basal is coming back he's live right now in three minutes have a great friday