 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 Tuesday morning, 8.30 AM, 60 minutes to go until the start of the trading day. And we got markets in negative territory, but off of the lows of the pre-market session. Right now, you're looking at a Dow futures off 218 points, 25,961 S&P futures, minus 22, trading at 3149, NASDAQ futures off just 32 points. That's about 310 percent, trading at 10,565, quite a day for the markets, quite a day for the NASDAQ yesterday, quite a day for what? Tesla, Amazon, Microsoft, Apple, you can name all those fangtox, Netflix as well. All of them having a huge tech rally, pulling back a bit, you only have the NASDAQ off about 310 percent right now with the S&P's off 710 and the Dow off just more than 810 percent in the red. Oil, negative 26 cents at 40.37. We're looking at a 10-year yield right now of about 0.67 percent. We're getting some higher price and lower yield yet again. The 10-year up three ticks at 1.3902, you got the 30-year up 13 ticks at 1.7812. Got to chart the S&P up here. Let me get rid of this drawing first. We'll click there, get that off. So there is, we'll start it off from yesterday's action. You open the futures at about 3121 Sunday night, zooming in on the action for the trading day, you'd accelerate higher in the final about half hour of the day. From 330, you were trading at about 3161. You finish the day at about 3171, actually make it up to a high overnight of 3184 at just about 9 o'clock Eastern time. And from there, you trade a bit lower. We reach a low at about 6 a.m. this morning under 3140. Since then, we've traded up a bit 3148. Over in Europe right now, you get the DAX down about 1.2 percent. You get FTSE down 1.3, CAT Curl down more than a percent. As far as Asia went last night, the Shanghai barely positive by about 310 percent. The Nikkei negative by 410 and the HSI negative by 1.3 percent. Gold contracts right now down $5 at 1787. We get silver down 20 cents at 1838 and the oil contract negative 30 cents at 4033. Jumping around, I'm going to start it off with the VIX, a little bit of elevated action yesterday for the type of market action we had, right? You had the S&Ps accelerating between about 20, 30, 40 points given where you were in the day. The VIX though wouldn't navigate too far away from the 28 price tag. And as you'd expect this morning, we're getting negative action in the market. We're getting an elevated and the VIX were above 29 at one point, currently trading at 2832. Jumping around to some of the tech stocks, how about Tesla will start it off with Tesla closed at 1371, made it as high as 1436 last night. Still you're up more than $20 right now of where you're going to open on Tesla at 1392. You had Amazon shares hitting 3,000 for the first time yesterday where we're looking to open a positive territory, yet again, even with the S&Ps down 25 points, Amazon's up about $6 right now at 3,063. Apple shares, Apple looking to open at about 374 up a bit from the 375, excuse me, 373.85 closing yesterday. So you can see we were higher, the market sells off a bit overnight. We were as high as about 375, 375, 78, all-time highs from Microsoft, Microsoft shares, all-time highs for Apple, right? Microsoft shares were up to 211.88. Right now you're off a bit of yesterday's closed 2102, Netflix shares, did we get 500? We didn't, 499.50 was the high early yesterday. We're currently trading at about 495, not bad on Netflix shares. Jumping around to other stories we have going on, just a quick look at the volatility. I mean, staggering numbers when you look at it, right? A percentage or two is nothing in this market. What I was going to say is even on the small days, you're dealing with half a percent, six tenths, four tenths, three tenths. And then the big days are anywhere from about 1.2 to 1.8 to 2.7 across the board. The volatility, folks, not going away any time soon. EU cuts economic forecast for the region, now projecting an 8.3% slump this year. That's quite a number, folks. The outlook has worsened over the last two months, irrespective of the steps that most European countries have taken to reopen their economies. The European Commission said Tuesday that economic activity is expected to pick up in the second half of the year, though it will remain incomplete and uneven on the back of social distancing. Measures the Italian economy will contract the most among all EU members by 11.2% this year. Italy hit, one of the countries hit hardest of them all, if not the hardest early on in the COVID epidemic. And not surprising that that plays out as it does. Since we're on the numbers, stark, stark numbers, stark numbers, no other way to put it in terms of the US. We're dealing with approaching 3 million cases, 130,000 deaths. The curve well above the first area of our acceleration back in the middle of April. We'll see what happens. As far as Florida goes, folks, zooming in on the numbers in Florida, it's tough when you get some weekend testing, right? There's anomalies in this data. It's got to smooth itself out, which is why I'm always focusing on this in terms of the seven-day average. When you get into here in Florida, you see what's going on there. I mean, yeah, you could argue maybe there's some flattening there, but we're approaching a 10,000 cases, folks, a day. So we'll see what happens. But in terms of where you get into the positive percentages, I mean, it's just hovering at 15%, anywhere given, no matter how many people are getting tested, folks, 15% have come back positive. That's indicative of community spread everywhere. So I don't see how this slows down and I don't see how it doesn't hit the economy in a more dramatic way than potentially S&P sitting at about 3,200 almost, which was where? To put some context into things, we're coming right back up to that high we had and look at the acceleration we had, right? The similar things happened too. On this high early in June, we're now early in July, exactly one month later, you had the market on these final few days of the escalation, June 5th and June 8th climbing higher, but to correlate where the VIX was on June 5th and June 8th, let's take a look, right? Yeah, so you actually had the VIX going up on the 8th, even though that correlated to the market high, a little bit of volatility getting priced into this market. And then, of course, things accelerate with the VIX and the market falling apart on June 11th, back to the S&Ps. And as you can see, tame action at the top until it falls apart. The last time we were up in this area, on June 11th, you're talking about a high bar of 3,188 down to below 3,000, almost a 200-point S&P collapse with the headlines coming out. It's tough to make a risk reward play right now for an acceleration higher in the S&Ps when you think about the possibility that we could just be in a little bit of a consolidation, right? It wouldn't be the end of the world if your consolidation was 3,000 at 3,200. That's a nice consolidation considering where we were down to 2,200 at one point, bouncing around this area. We almost bounced around in this area the first time when the market fell apart, but we're now approaching that 3,200, a little bit of fear in the market. I was not surprised when I woke up this morning and saw the S&Ps had pulled back 24 points. It would have been tough to extend the gains we had yesterday. And if you really look at yesterday's action, right? We traded higher by midnight, okay? And then the market just kind of hung out all day between 3,160 and 3,170, right? All day yesterday, hanging out at these highs, but not able to get too much action. You push it higher overnight and then, boom, we go from 3,184 down more than 45 S&P points to 3,143. Stay tuned, folks. Come back after the break. See what else we have on tap for Tuesday trading out there right back. Many of our new listeners have heard about the Tiger's Den. The Tiger's Den is a lively community where professional traders and investors can meet, exchange ideas and information in a comfortable, moderated atmosphere. Hear all of the TFNN shows plus see all of the charts as they happen live and have access to archives of all of those charts. You can test drive the Tiger's Den absolutely free for 30 days and greatly enrich your knowledge of these markets and how to make your money work for you. Details on the Tiger's Den are on the front page of TFNN.com. 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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. Welcome back folks. We got the S&P's negative by 23, Dow negative 245, NASDAQ off just 38 points right now jumping around to some of the stocks with action so far this morning. A couple of biotechs out there were general. They signed a $450 million contract with the US government for its coronavirus therapy. So let's jump over. We did some action yesterday talking about a phase three study going forward. There's your volatility on yesterday's action. End of the day up a bit and today though we're trading up $13 to about 640 from 627 on Regeneron. Also Novavax. So Regeneron signs a $450 million deal. How about Novavax getting awarded a $1.6 billion deal to cover testing, commercialization and manufacturing of a potential coronavirus vaccine in the US with the name of delivering 100 million doses by January 2021. Shares of Novavax surge more than 35%. You got 1.6 billion for potentially 100 billion, excuse me, 100 million doses and Vax is their symbol. Look at that pop from 80 to 117 parents. Some of those gains don't get caught up in some of that hype folks. 101.36 as it's pulled back now $17 from that high that had just at 645, 630 in the morning this morning. This is biotech's volatility. Watch out. Talk about volatility jumping to sports for a moment. If you saw the story, Patrick Mahomes, Kansas City Chief's young stud quarterback, Super Bowl winner out there, signing a 10 year extension. Not even a contract. He had two years left in his contract. He signs a 10 year extension on the heels of the two years he has left remaining for the tune of 400 million. His agent thrown around the number 503 million of what it could reach half a billion dollars. Remarkable action there. Now when you look at these rookie contracts, right? Sometimes the best opportunity for an NFL team, I'm jumping around a bit, but this is always cool talking about a little sports, bring a little sports into the market action. Some of the NFL teams, some of the best chances they have for a Super Bowl run is when you have a remarkable quarterback that is still on their rookie contract because you have an amazing athlete that you are paying well below their market share. And in the NFL, what makes the NFL so great is that as they say, any given Sunday, right? Any given Sunday because, yeah, you can have great teams and they cycle through. But in theory, there's a lot of parody in the NFL because of the hard cap for the salary cap. You can't just have a Yankees and a Red Sox where they go out. They outspend their opponents to the tune of three to one, four to one on a salary. Some teams have two or three players in Major League Baseball that are making the entire salary of some other teams. In football, that doesn't happen. You get a lot of parody. So quarterbacks on their rookie deals, you're saving a lot of money. You can spend that money on assets like quarterbacks, defense, all that stuff. Patrick Mahon's coming back to it. He was gonna earn $2.7 million this year. Now they had already picked up the one year extension on him to push it to two years. So he was gonna get something like $24 million next year, but you can see you go from literally earning a couple million dollars on your rookie deal. And guess what? Patrick Mahon's rookie quarterback, excuse me, on his rookie deal, young quarterback, Super Bowl winner, he was gonna get paid nonetheless. But remarkable numbers in the NFL, $500 million. And that is the biggest contract of any sports league ever for Mahon's. All right, jumping around to stocks with action this morning. We talked about Novavax and we talked about Regeneron. Quest diagnostics. So this one, it's a tough deal, right? It's tough to fight through a lot of the noise that you're hearing out there about what's going on in terms of COVID-19. The president clouding it more than most in my opinion, all right? You talk about testing, testing so crucial. We're in Florida. This is beyond just rhetoric. It's quite an epidemic coming through the state of Florida right now. And Quest diagnostics, the medical lab operator said, turn around time for COVID-19 test results has lengthened to four to six days for non priority patients as demand for the diagnostic tests continue to surge. People are waiting almost six days to get those test results back. Now, if you're going to get in testing and you don't know the results, you better be self quarantining, okay? That's a fact. But to hear that one of the biggest lab operators doing testing in the whole country doesn't have the ability to push a test result back to somebody for almost a week, that is not the best testing in the world by far. It's lacking severely. So not good. I just read that a couple of minutes ago, talking about things to cover. I wouldn't have guessed that from the rhetoric I hear out there. It's a tough deal as cases are really surging here in Florida, Texas, California, I believe it's South Carolina, Houston ICU beds filling up. In Florida it's happening as well, elective surgeries going away as they try and make sure that the beds that they need are available because of the acceleration in these cases. Okay, serious getting into the podcasting game a little bit more than nearing a deal to buy EW Scripps podcasting unit Stitcher according to people familiar. Podcasting turning into a big acceleration you had of course Spotify scooping up Joe Rogan, believe they scooped up somebody else as well in the podcasting game. Serious, I'm a user of Serious. I like their product in terms of being in the car, being at home. But their stock, not so sure about that one. Square, Square remains on watch after closing at a record high Monday. Mobile payments company shares have more than tripled from their March low. The pandemic prompted more consumers to use squares, payment options. Let's jump over to Square because this is quite, we were reading Tom and I on the program yesterday, yeah. So check out this pop, this probably had to do with the news story we were looking at, you almost can't, I mean, it just went from 118 to 128. By the end of the day, you're back at 118. And they were talking about that they might be able to get 20% of direct deposit accounts in terms of people setting up square accounts, getting their paycheck in there, 20% at one point of those accounts might go to Square as the world just changes. Nvidia getting an upgrade, 460 bucks from 4.20 a share pointing to robust gaming market ahead of new console launches from both Microsoft and Sony. I haven't owned a game console in a while, used to be a gamer of some sorts and we're climbing right up to the highs of yesterday right now with Nvidia bid ask of just above 396 and to put this in some context, you're dealing with all time highs from basically 180 March 18th and we're now approaching $400 on Nvidia. The world needs chips to run folks if we're all gonna be at home on our computers and our gaming consoles, that's the bottom line. Let's jump to Microsoft and Sony as well. We know Microsoft's at all time highs. There's that acceleration and we're gonna open basically flat at about 210, 30 Sony, SNE I believe. Yeah, Sony from 73 to 50 and you're gonna open at about $70 today for Sony. Yeah, Red Rock, I saw this story over the weekend. Sad story that their president Richard Haskins died last weekend in a watercraft accident. He was a young guy, I think it was 56 years old. He was the president and they're looking for somebody else. The Las Vegas casino ropers said it would announce a succession plan in the company days, in the coming days, excuse me. Be safe out there on the waterways folks. We had a lot of listeners in Florida, it's summertime. We just went through the July 4th. We can't sell fortune, right? We committed July 4th. You say be safe out there and be safe out there. It's a real deal. There was some speculation I think that maybe he was on a jet ski. I have no idea. I had heard that, but jet skis no matter what, they are dangerous folks. Be careful. I love jet skis. I'll go on them all the time. You just got to be aware that those boats, you're on there on the weekend, especially big weekends, boats everywhere. Be careful out there. Sad deal, young guy passing away. President of Red Rock and jumping over these casinos, right? Red Rock. Yeah, I think it was probably a tough day for them yesterday, right? There's your open on that news from 11 down to 10.20, Trinit 10.52. Some of those casino stocks especially hard hit with cool. All right, S&Ps down about 21, Trinit 31.51. We get the NQs negative by just 28 points right now within about 100 of those all-time highs yesterday, 10,664 overnight. Stay tuned, folks. We'll be right back to finish up the filming. 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 grows. You see, I believe that everything in life happens for us, not to us. 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Primal Edge is powered by highly concentrated folic and humic acids, nature's preferred delivery system. They even 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 Niko 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 then hit Watch Tiger TV. That's TFNN.com then hit Watch Tiger TV for the latest market information. Welcome back, folks. We got the S&P's negative by 20, Dow off 228 checking into other stories. So yesterday, you had the administration releasing a list of the companies that receive the most money from the small business bailout loans. You can access this direct list. It's downloadable as a spreadsheet. You can get in there. I downloaded it myself, just kind of peeking around. There's a bunch of lists, folks, in terms of where you go. It's the small business administration. Just even clicking on it. You'll see what happens. It brings you to, I believe, a box account. You can download the data. You don't even need to log in. Anything like that, $150,000 plus is, in terms of companies that received $150,000 or more. And then you can go state by state, but I don't think they have as big of a breakdown. They really provide the names of the companies that were receiving the big loans. And of those loans, you're talking about, now let me get in here first. Yeah, so you had of the big companies, right? These loans disclosed, represent nearly three-fourths of the total loan dollars approved, but a far smaller portion of the number of actually loans. Yeah, that's because you get one company receiving $10 or $20 million, folks, with having a few different subsidiaries. That's gonna offset a lot of companies getting $35,000 or $50,000 or $60,000, whatever it is, right? On the small end of that list, that are just surviving on a couple weeks of payroll. And you have these companies, I mean, look at this. Among companies getting millions in the US small business loans, South Korea's biggest airline receiving five to 10 million. You're gonna see this continue. In terms of who got these loans and whether they were really deserving of these loans. You have law firms, among notable law firms. Anyway, jumping around, check out that data if you want, as they make it available as they should. All right, checking in on the markets as we come into this nine o'clock time frame. Don't forget, folks, stay tuned. We're gonna have Larry Pezzavento coming up. And thanks for everybody that participated in the Tiger Dollar sale. Thanks for the support. We wouldn't be able to do this without you guys out there, you girls out there, tigers, tigers is across the board. Still on the front page. We're gonna take it down this morning. So it'll be up there for a brief moment. But check it out on the front page of TFNN. And stay tuned. It should be an interesting day in the market. With the SMEs down by 21 points, straight in at 3,150. NASDAQ right near all-time record highs. Stay tuned, folks. Larry Pezzavento coming up with trade what you see next at TFNN. We'll be right back.