 The following is a presentation of TFNN. The Morning Market Kickoff with your host, Tommy O'Brien. Oh, that football animation makes you dodge every now and then. Good morning, folks. This is Jacob Shoup. I'm filling in for Tommy O'Brien. He will be back with us on Monday. An interesting kind of day setting up here, guys. We'll get into that a little bit before I begin. We'll look at the spy real quick, closing at, well, trading right now at 4.32, obviously, we open up at 9.30. Tom yesterday in the den was calling this, right? He said, we're probably going to have a 60-point close in the SPX. And if you guy, and he was right, I think it closed probably 72, if I remember correctly. You guys have got to get into the den. This is going to be my plug, all right? And I'll make it real quick so we can talk a little bit about the market. You come to TFNN.com, you scroll down. I recommend taking a look at Tim Ord's webinar. It's going to be November 7th. That's next Tuesday. Check that out. But for right now, we're going to switch over right here to the Tigers Den Trading Room, guys. This is $1 a year. We just do that so we can keep everyone safe and secure and know who's in there, right? That's standard practice. Do $1 a year. You go ahead and subscribe. You click this link. You download Discord. Create an account. And then you're going to click this. This is the invite link. It's going to get you in the den. You're not going to see everything immediately because then you're going to have to email sales at TFNN.com with your account name. I'll give you the tag, and then you're going to be able to interact with everyone. Get these sweet insights very early in the morning so you don't get left behind throughout the day. Guys, it's a four-set process, very simple. We have FAQs there and everything is well. I really recommend getting in there. I think we have about 630 total people. We have a bunch of people active all day long. And I just had like five sign-ups this week in general. It's amazing. Everyone's loving it. All right, let's take a look, guys. We have the ES mini trading about $43.56 right now. We have the Russell at $17.49 and $0.50. And Qs at $15,034. Then they had Dow Futures at $34,074. The gold contract, we're down a little bit right now at 2008. Excuse me, we're up. We were trading at $19 something yesterday. A nice tick up earlier this morning at 8.30. So we're going to take a look at why that might be. We have the silver contract trading at $23.27 copper at $3.67 and then crude oil at $82. Staying pretty stable right there, OK? We might have some issues going forward with everything occurring in the Levant between Israel and Palestine. There might be some issues with the Strait of Hormuz going forward, especially since it is Iranian-controlled. And there is some evidence that Iran, some elements in Iran, such as Hezbollah, might be helping Hamas in a way. Let's take a look here and look at the dollar. It took a nosedive today pre-market. We're at $105.36. So we have an interesting confluence going on, OK? Apple came out with their numbers. We'll talk about them in a second. Basically, receding sales, OK? They're losing market share in China, losing out to Huawei in one second. And their sales units were down, all right? So let's see. We had Apple fell about, we'll pull this up, actually, so I'm not just looking at crude oil for no reason. So you had it out. This is about the 4.30 mark here. You dip down to about 175. Here we go. We had this huge bar down, 173.46. Came back up a little bit. And then you had a low right here of 160, about 169.33. And you were settling at about 171 until about this morning, where it took a bid up here at 177.74. They didn't have great numbers. They weren't abysmal or anything. And they also had a cautious outlook. So we'll read a little bit about this. Apple stock fell as much 2% in pre-market trading on Friday after the iPhone maker reported earnings late Thursday that they did beat estimates, though a cautious outlook for the current quarter weight on shares. A main thing that was driving this was going to be its wearables, right? They had less iPad sales. iPhone sales were a little bit shaky on it. Again, they're losing out on China quite a bit. But their wearables, their peripherals did pretty well. Apple reported earnings about $146 on revenue. I think the expected on that was $139, if I remember correctly, on some analysts. So that is better. That reached about revenue of $89.5 billion, which was expected of $89.3. And that was a fourth straight quarter revenue. Basically, it was moving that way. The company said that iPhone sales had increased to $43.8 billion in its fourth quarter, just slightly beating expectations. Services revenue surpassed $22 billion for the first time, so the services were big. But the idea is that the outlook for the coming quarter is not great, all right? So Apple makes up a pretty large portion of it. I think they were at, like, 1 trillion market cap. They're now below that, obviously. So you know, this has a... The reason why I'm bringing this up is because I was interested in maybe trying to find a short position, right? You know, if today's up, which I get nervous thinking of trends reversing on Fridays, if this is another update, we've seen, at least in the recent past, five days up, and then you get a downturn again, right? Now, the market conditions are a little bit different. We have the dollar actually going down, breaking that 106 level, where we're sitting pretty comfortably about 106, 10 to 106, 20. We're now at 105.39. If that is a real dive, obviously that lifts the market up, so I wouldn't, you know, my personally look at a short position that way at all. If Apple doesn't get hit as poorly either, I also think that's not a great, that would go against the thesis of trying to short it a little bit. So we're in an interesting kind of spot, at least the way that I'm looking at things. Another thing that can kind of lift the market and really send it off, the US payroll's increased 150,000 in October, but that actually was less than expected. There was a forecasted estimate of 170,000. So, you know, we're still having job growth, okay, but it's slowing down a little bit. This kind of lends credence a little bit to the concept of not raising rates this time around from the Fed. The market also likes that quite a bit, might be getting into a bottom, at least in the bottom market with that as well. The metals will go off in this kind of circumstance, especially with the dollar. If we stay sub-106, if we stay in these mid-105 areas, it'll be pretty massive. The non-farm payrolls increased 150,000 for the month. The Labor Department reported Friday against the Dow Jones Consensus Forecast for an increase of 170,000. The United Auto Workers Strike was primarily responsible for the gap as the impasse meant a net loss of jobs for the manufacturing industry. And that's something to keep in mind as well. Maybe one second, I gotta pull up program here. Okay, we got it going. We'll talk a little bit more about the UAW strikes. Now, if those strikes cease, right, in normal operations resume, I could see a world where some of these jobs do get cut, right? I mean, I think Stellantis just passed like a 1.8 billion dollar, I'll have to look that up, a 1.8 billion dollar kind of deal with UAW on going forward. I know UAW is gearing to organize up in Toyota. We'll talk about that a little bit as well. And so we might see a persistent kind of lower job, excuse me, payroll number in the coming months, which is positive for the market. Is that a permanent thing? Is that really showing that the rates are working? It's hard to say. Folks, stay tuned, we'll 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 technicals. 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.com. 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.com. 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There's no catch or added costs when you join our community of traders. Sign up today and become a part of this educational community of traders. Just visit the front page of TFNN.com. Before we went to the break, we're talking a little about U.S. job numbers, what this general trend might look like. I was talking about maybe setting up like a short opportunity in the market, but essentially what I'm looking at here right now, we're talking a little bit about UAW and kind of the jobless numbers as well, and if these UAW strikes, well, one, they are contributing to this kind of payroll number, is that gonna be long-lasting? Do these larger deals, are they going to translate into lower numbers of employees going forward? Anyways, we're looking at this here, the UAW's DeLantis deal includes an 18.9, so 1.8, I was off on that, it's 18.9 billion in investments and new trucks for idle plans, okay? So the plan, they've pushed Chrysler Parents DeLantis to invest about 18.9 billion in the U.S. by April, 2028, including 1.5 billion for mid-sized pickup truck production at an idle factory in Belvedere, Illinois. The investments are expected to be completed during the term of four and a half year tentative agreement, which must still be ratified by roughly 43,000 UAW members covered by the proposed contract at DeLantis, okay? The concept is if you're revitalizing some of these idle factories, it's going to add more to the payroll and that is an argument to be made as well, but there's always a way that some jobs get cut in something like this. Details of the tentative agreement will release Thursday night after local UAW leaders approve the pact, which UAW, Sean Fain, called the most lucrative contract, our union has won in decades, there you go. On that as well, they are moving out into Toyota as well. The UAW on Thursday signaled the next step in the union's campaign to capitalize on its success and bargaining with the Detroit three is launching organizing drives at Toyota, Tesla, and other non-union U.S. auto factories. Sean Fain again began his video comments on DeLantis contract with the appeal to workers at Toyota, which on Wednesday offered pay and benefit increases after the Detroit three contract talks concluded. He said that the UAW's new contracts were so good they had led to non-union auto workers getting raises, terrified auto executives across the nation. Okay, we get the point, right? You reach this hard position, right? Because you want people to be able to make more. Like things are so expensive. It's expensive to live. Things are going up in price and it's just a little bit difficult, right? So you want other workers, you know, especially blue collar guys who are working in factories like this, right? Like they're supporting families and they're just, they make up America, right? Like they make up this nation. And I don't, I fear that stuff like this though also increases the price of the goods, you know? So then you kind of get this whole run around situation where all right, so now the union workers are making a lot more money. These companies are not gonna charge more for these cars. I mean, Toyota, the CEO came out a few months ago and said he sees the base price of new vehicles being 50,000, right? And I could see a world where that comes, you know, not in the next few years, but, you know, in the next, what, like decade or something like that. And that might be out of the reach of a lot of people. You know, obviously that just kind of adds more into the kind of debt cycle that we have in the US where, you know, you take out loans and purchase things that obviously also pushes up prices of things in a roundabout way as well. So it's kind of just interesting to sit and like think about you could talk with your friends or whatever, maybe not your relatives about it, because that gets rough. But I don't know, there's a lot of interesting stuff going on in the market right now. And I wonder what the kind of paradigm shift in looking at it will be going forward. So let's take a look at here, looking at more permanent layoffs and everything here. So Charles Schwab, they just acquire TD Ameritrade. They've laid five to six percent of its workforce off. It's about 2,000 employees. The company had 35,900 employees at the end of September, according to Charles Schwab's latest quarterly report, meaning this week's cuts could impact roughly 2,000 employees. These were hard but necessary steps to ensure Schwab remains highly competitive with industry leading levels of efficiency and well into the future. Their decisions that impact very talented people personally and we take that very seriously. Okay, how many of these people know can go get a job afterwards? We can take a look at some of the actual jobless claims in a second here out of AP. The Westlake Texas-based company previously said it projected to achieve at least 500 million of incremental annual run rate cost savings, while also incurring about 400 million to 500 million from expenses like employee compensation, benefits and facility exit costs. For the third quarter of 2023, Schwab posted an income of 1.1 billion, which was down from two billion seen in the same period last year. Revenue was 4.6 billion for the quarter, down 5.5 billion from the third quarter of 2022. Their shares are down about 34% year to date, but up 3% in the Thursday morning trading. Sort of seeing a lot of factors go in here. Let me try to find this, here we go. This is the thing, this is coming out, we're on the third today. Oh and speaking of that, I feel like we missed like a really good chance to have a cool Halloween stream on them, but hey, you know what, we'll get it next year. US applications here for jobless benefits came out yesterday inch higher, but still remain at historically healthy levels. The number of Americans applying for jobless benefits inched up last week, but remains low by historical standards, even with the Federal Reserve's aggressive interest rate hikes meant to cool the economy and taper lingering inflation. Unemployment claims rose by 5,000 to 217,000 for the week ending October 28th, the Labor Department reported Thursday. Jobless claim applications are seen as representative of number of layoffs in a given week. The four week moving average of claims, which quiet some of the week to week ups and downs, ticked up by 2,000 to 210,000. All right, and again, you can still make the argument since these are healthy levels, are these rates doing enough? Like what is the long-term view of the Fed and when they're seeking, you know, and I think too like not having like a timeframe for when the feds want to see this kind of occurring, you know, get inflation back down to 2% or whatever. I think we're still in the woods. I don't know if the Fed really knows either. I think we can sit here and, you know, part of, you know, what we as traders do is try to come up with these and understand what the long-term outlook is so we can make these kind of decisions. But I also think that we're getting at a point too where we're still in the woods and we're not seeing a massive change in everything, right, still there is still something going but we're at what, 5.2%, 5.25% and it's not changing in the exact way. So we might still have incremental increases throughout 2024, which obviously kind of chokes the market out a little bit. Let's take a look here. This is for, oh man, it's for Dan. I don't know if he's in the den yet. I kind of want to wait until he's listening to see if he has any interesting input on that. But we can just take a look here. Let's take a look at Amazon versus some general news, looking at everything going on, turning about 138.84, up modestly about half a percent. They've been trying to get into brick and mortar for quite a while and currently they are closing the two clothing stores, which is, as they're saying, another failed bid into physical retail. The company said Thursday that will close both of its Amazon-style stores located in L.A. and Columbus, Ohio. It's an interesting choice. Making it the latest brick and mortar business abandoned by Amazon. Amazon opened the first Amazon-style store last year at the, excuse me, at the Americana at Brand. Geez, these names. Amel Amal in Glendale, California. Some experts predicted the company's entry could threaten traditional retailers like Macy's and Kohl's, but Amazon's ambitions into physical retail haven't always panned out. Last year, Amazon closed all of its brick and mortar bookstores, as well as its four-star shops and pop-up locations and said the move would enable it to concentrate on other physical businesses, including Amazon Fresh and its style stores. And they also are getting into pharmaceutical delivery with drones, which I think is gonna be pretty big if they can get that right. Folks, stay tuned, we'll be right back. Conceased 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. 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Go to TFNN.com and hit Watch Tiger TV. That's TFNN.com and hit Watch Tiger TV. All right, welcome back, folks. We have the market open. Spy's trading at 4.33, Apple at 1.74, about, well, it's fighting right now, but about 1.74. Disney at 8.4.37, Meta trading at 3.12. Google 129, QQQs, 3.64. The dollar down at 1.05.30. Steel Dynamics broke above the 1.10 boundary. And let me see here. Yeah, it really did break above. Not an extreme volume or anything like that. So we'll see if we get a retrace. Really, the way I've been playing this stock, and I talk about it all the time, but I mean, since June, you can just ride it. Hits it's 1.10, comes back down to 1.100. Hits it's 1.10, comes right back down, 1.10 back down. And when you find a stock like that, I mean, that's awesome. Now, of course, given volume, like you had a breakdown here on high volume, that, in theory, sets up for lower prices. But that was in September 15th, and we're at November 3rd right now, so we'll see what happens. I think this reached up to the stars, 1.15. It's not on immense volume, so we might see a trace back down, but it's a fun stock to look at and play. Tesla at 221, up about 1.10% right now. Silver, 23.06. Gold ticking down right now at 1, excuse me, 1998. We've reached about 2,000 mark here, I think earlier this morning as well, about 2,021. All right, let's take a look. We have DraftKings. They're up about 6.49%. Revenue jumped 57%. The sports book leader grows customer base. Sports betting company DraftKings on Thursday posted quarterly revenue that came in ahead of analyst expectations as the company rises to the top of the highly competitive online gambling industry. Shares from DraftKings gained about 7% and extended trading Thursday after rising 6% during regular session. Boss per share was 61 cents. Revenue, 790 million versus 706.8 million expected. It wasn't immediately clear whether the company's reported loss per share was comparable to the 69 cent loss expected by analysts. DraftKings reported a net loss of 283.1 million or 61 cents per share compared to the loss of 450.5 million or $1 per share in the same period a year earlier. Revenue for the third quarter increased 57% to 790 million. The company said growth was spurred by its expansion into new jurisdictions which led to a boost in new customers. All the while existing customers were more engaged and spent more money on the platform. That's also a good sign as well. Fantastic third quarter results demonstrate the positive impact of our product and technology investments as well as excellent preparation and execution by our entire organization that was from the CEO. They reported a 2.3 million monthly unique payers in the third quarter representing a 40% increase year over year and the average revenue per monthly unique payer increased 14% which is again, it's a really good sign that their current customer base is interacting more with it. Let me see real quick. I think Dan's in the chat now. I wanna talk about this a little bit, right? This is news and this kind of goes in a little bit with some of the science news that I like talking about. There's an issue that's coming up and I don't think it's as pressing as everyone makes it out to be but a lot of the, there's a lot of bacteria that's gaining antibiotic resistance, okay? Even out here, we have something called Bayboro, right? Which is right off of the USF campus University of South Florida and how do you call it? The Coast Guard, the Coast Guard base. It's right in there. And we used to go sailing in that water, okay? Not a lot of people like swimming it, right? Especially if you're from here you don't go to those beaches that much. You know, you don't get in the water at all. But we had to go sailing in there and I was doing some research on it and the laboratory at USF had determined in 2016 that there is antibiotic resistant bacteria in the water, right? And this is due because we have a lot of hospitals around the area and some of the waste gets flushed, you know, north of that, right? And so one of the big fears going into the next, you know, going into the rest of the century is that there's gonna be a lot of like standard bacteria that is now antibiotic resistant. And if you look at what the eastern block has done historically, right? We bifurcated I think in the 50s when we discovered antibiotics, right? Prior to that we had something called bacteriophages which were viruses that could be trained essentially to, you know, the name bacteriophage means bacteria eater. And so essentially the host would be infected and it would kill the bacteria, okay? And there's ways you can make these mixtures that they don't necessarily become resistant to these bacteriophages. Well, one of the biggest kind of infections that we have in the U.S. is gonorrhea, okay? And the problem is you get about a bunch of young people who get infected with this and they're given antibiotics and they don't finish their entire course. So maybe their symptoms go away, but it still exists late in Lee. And you just essentially get this antibiotic resistant gonorrhea that goes around, okay? And so this is a new antibiotic. It shows promise for drug resistant gonorrhea which is massive. Okay, second most common infection in the U.S. It'll resistant to all antibiotics used to treat it, except for the recommended combined therapy of an injection of the antibiotic, ceftriaxone with one dose of azithromycin. I could say that word actually, I know what that is. On Wednesday results from a late stage clinical trial of a new antibiotic called Xoloflodicin showed the drug cured so-called uncomplicated gonorrhea infections as effectively as the Cetria Fox. Okay, let's say it's ceftriaxone and the azithromycin. We're gonna just say the drug's going forward. Drug was developed by the Global Antibiotic Research and Development Partnership, Swiss nonprofit in the U.S. based in a Viva specialty therapeutics. We have Dan in the den, he's a big biotech guy and thought he might have some interesting input into that. But yeah, going forward, I think we're gonna see a lot of efforts into kind of new ways of treating bacterial infections. It's massive. And this stuff going untreated can be pretty devastating to people in general. So, anyways, I thought that was kind of interesting when I was reading it earlier because those are one of the things I kind of think of later in the evening. This is interesting here. We have Japan's actually approving a $110 billion stimulus package to fight inflation. Okay, so we're kind of like, how does that work? So we'll talk about this a little bit. Japan's cabinet approved on Thursday a package with economic measures worth about 7 trillion yen, which is 112 billion, including income tax cuts. The new prime minister was grappling with persistent inflation and following approval ratings. Wage increases are not keeping pace with price rises, okay? And so the idea here basically is that this stimulus, because usually you don't add a stimulus package to fight inflation. And really what's going on is Japan has historically dealt with deflation. They're experiencing inflation but not in the way they really wanted. They want it to be demand based inflation, right? And they have lower demand, okay? And so the idea is that stimulating the economy would increase demand and therefore increase supply. And so you could actually get a lower inflation number or an equal inflation number to I think about 3% they're dealing with currently. And that will be driven from demand. And they're achieving this via tax cuts one, which is interesting. And then for the lowest earners in the economy themselves, they're getting actual just straight up checks in order to start spending some more to switch basically what I'm saying is the cause of inflation in Japan. And really again, historically they deal with deflation. I think this is kind of like, I don't think this article really explains that very well nor does this headline. I mean, I think that to new people, you know, grappling with economics this doesn't make any sense. But that's what's going on essentially. I think that's kind of a unique way to deal with some stuff. Folks, stay tuned. We'll be right back. Tires every Tuesday and Thursday, Tim Ord joins the Tom O'Brien show to share his unique insight that he's developed over decades of trading. Now on Tuesday, November 7th from 4 p.m. to 5 30 p.m. Eastern time, Tim Ord will be hosting his own live webinar. Tim's analysis has been outperforming market returns by almost double and his gold analysis is on track to be a winner as well. Tim will be delving into six secret ratios that every trader should know. In this webinar, Tim will be covering the daily TLT VIX, the daily and weekly spy VIX, the American Association of Individual Investors bull bear ratios and the trend panic levels. Tim will break down each ratio, how it is calculated, its importance and how it can help you make bigger returns. It's as simple as this. Learn the ratios, trade by them and see your returns. That's it. Visit the front page of tfnn.com today to sign up now. T-F-N-N Educating Investors. 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? Like any endeavor in life, before you decide it's impossible, get some advice from the experts. You might find that it's not so impossible after all. 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A fund's prospectus and summary prospectus contain this and other information about direction shares. To obtain a fund's prospectus and summary prospectus, call 866-476-7523 or visit directioninvestments.com. A fund's prospectus and summary prospectus should be read carefully before investing. An investment in the fund 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 for side fund services, LLC. This program is brought to you by Vista Gold, traded on the NYSE American and TSX under the symbol VGZ. Hi, guys. Looking at Moderna right now, they obviously got hit pretty heavily. The other day, they had a steep loss for the third quarter, recorded a large write-down due to unused doses of the COVID vaccine. It's only a marketable product. And then they'll plan to scale back production of the shot. They closed 6% lower on Thursday. Moderna's total revenue for the period topped Wall Street's expectations, even a mid-plummeting demand for its shot. It's outlawed for next year. However, it came in lower than what analysts were projecting. The loss per share was $9.53. That may not be comparable to the $1.93 per share expected by analysts. Revenue was 1.83 billion versus 1.4 billion expected. Moderna posted a net loss of $3.63 billion, or $9.53 share for the quarter that compares with net income of 1.04 billion or 2.53 per share reported during the year, period. Excuse me, year ago period. All right. So why is it up right now? Okay, well, they had just basically come out with something saying they have a new antigen vaccine for cancer therapy. And this could be pretty interesting. They reduced 50% distant metastases and deaths, which is obviously pretty impressive if that's a number you can see across the board. If that comes out, a cancer vaccine is the way that people are running to do things. I'm interested to see, I gotta read a little bit more. I mean, neo-antigen vaccine often kind of talks a little bit about its mechanism. But I think that could be neat if it's long term. So I think that personally might be a reason why we're seeing an increase right now, even though it's obviously going forward into the future. COVID probably won't be as large of an issue and they won't be making as many COVID vaccines. So that's interesting. I'll read a little bit more about that and maybe I'll post something in the den later today about why that could be happening. Because I think it's interesting. All right, we can talk a little bit too since we talked about cybersecurity a little bit on this for to net, let me get the ticker for it real quick. So that tumbled and I stress pretty heavily how important cybersecurity is going forward to this. Geez, down 17.5% right now. I mean, that's a huge gap down, right? This is saying 23% at least since Spark to sell off in cybersecurity stocks with a dismal forecast that compounded fears of slowing client spending and then a certain economy. The current pre-market loss if they hold were set to wipe out more than 18 billion from the company's market value. Palo Alto, Zscaler, CrowdStrike fell between about 2.5 and 3.8%. Fortinet cut its annual revenue target on Thursday and said it expects current quarter sales between 1.38 billion versus 1.44 billion below estimates of 1.5 billion. Again, I think this is like not a smart thing for a lot of companies to do. You're cutting down on security. Again, I think, and I've said this before, that it still seems kind of like arcane to a lot of people. I think the CEOs of the future, right now we have a lot of guys who are either in finance or lawyers or something like this, but you're gonna need to have people at that top level who are competent in security, right? The fact that you're seeing a downspending right now in cybersecurity while globally you're seeing an uptick in cyber crime. I mean, we just have the casinos get smacked with a massive kind of ransom for this, right? And what I really fear about this is you're looking at, like the C-suite executives are sitting there saying, well, what is the average kind of net loss on this, right? They're looking at it in a quantitative way, right? And they're saying, okay, well maybe we can accept that loss if it hits us. What are the chances? What is our exposure of this? And if we get hit, can we afford to pay some ransom like this? But that's a really bad way to look at it, okay? Because long-term one, you make yourself a target, okay? If you go ahead and you pay these ransoms or you get hacked. And then second, what really happens, and I would blame the consumer on this a little bit as well, but a lot of these breaches end up in mass exfiltration of sensitive data of consumers, right? So if you're just looking at it in a quantitative way, it's like, okay, well we lose $100 million from this ransom, but you're also compromising, let's say the credit card numbers or whatever of a lot of these consumers, like that's messed up just on a general level, right? Like that's a qualitative issue. Like you are now putting your consumers at risk. Now, I think too, a lot of consumers also don't understand this. So when it happens, they're just like, well, you know, these things happen and the company that was targeted where our data was lost through is also a victim. And the truth of the matter is that a lot of times these guys are not employing proper precautions whatsoever because they're under investing in security. I think that we will see government legislative push and more of these companies taking the burden when they get hit like this. And I think that would be a really beautiful thing. Yeah, I have a acquaintance of mine who basically works on like backend infrastructure and security is a part of that. And we're sitting there at a cafe and he's complaining about the company and he's showing me the backend of this company. He got fired from it, his contract got terminated, but they never sat there and changed the password so this man could still access the backend. And this is just some random person to them now, right? He's not bound by anything beyond his personal morals. And like that's insane. And this was like, it's not a large company or anything like that, but it has a pretty impactful role. And it's just insane. And to see less investment on this, I think is just not a smart thing. Anyways, I'm gonna stop kind of sitting on the soapbox with that in general. But just to know that I think for this year the cybersecurity investment is not doing well at least. And now probably extended to 2024. I mean, as long as the economy is not like setting on fire rather the corporations aren't like on fire and there's not a ton of money going through and they're looking to make cuts somewhere, cybersecurity clearly is one of those things on the chopping block, which I think is pretty wild. Some news for the crypto bros XRP, which is Ripple actually was approved by Dubai's financial services authority, which is pretty insane. XRP fell about 0.28% in the 24 hours leading up to 530 PM in Hong Kong and that traded about 0.60 right there at that level. Ripple's flagship event Ripple Swell is set to begin in Dubai on November 8th aiming to bring together influential voices from the financial and regulatory industries. And yeah, we're just seeing a more widespread kind of adoption of crypto in some of these other countries. So Ripple's pretty stable. There's a lot of good talk, at least the Ripple bros love this talk obviously, you know? So I think that's interesting. Let me see here. AMD is something to talk about as well. So we're up about 1%. You had a big shootup actually yesterday, which is pretty insane, from 99 up to about 107. They beat earnings estimates. They are missing Q4 guidance. While it beat estimates on top of the bottom line, the company missed on its Q4 guidance and these shares fell about 4% after I was trading. This is from November 1st. They gained it back. The loss of optimism about its latest enters, excuse me, data centers chips grew. The stock is up about 8% on Wednesday. And we were talking about between AMD and NVIDIA that they actually produce different, like their chips are different, right? And the concept behind it is NVIDIA is being used for training AIs on things and AMD is being used to sustain it. So, you know, they're still in competition with each other 100%, but if those guys can specialize that way and AMD can specialize into that, being the smaller guy, it might be okay going forward. Folks, stay tuned. There's a short segment coming up after this. You might think that if you want to be successful at trading in a stock market, you're going to need a crystal ball. After all, it's impossible to predict the future, right? Like any endeavor in life, before you decide it's impossible, get some advice from the experts. You might find that it's not so impossible after all. For daily market overviews that give you direction on the key indices, selective stocks and commodities, subscribe to the opening call newsletter at tfnn.com. The opening call newsletter is written by Basil Chapman, creator of the trading methodology known as the Chapman Wave. The Chapman Wave up-down sequence gives you an edge in identifying price turns, finding the peaks and valleys in stock prices. Get the opening call newsletter by Basil Chapman and your inbox every day. First-time subscribers also get a 30-day money-back guarantee. 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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.com, 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. Ready for the weekend? No doubt. Talking a little bit about Maersk right now. It's obviously the world's largest shipping here. Shipping company Maersk to slash 10,000 jobs citing the difficult container trade environment. This is out of Denmark. Maersk, the world's biggest shipping company, said Friday that it plans to eliminate 10,000 jobs due to what it described as a challenging environment for container trade and logistics. And just let me say real quick, or you go back to the cybersecurity thing, you wanna see the effect that a cyber attack can have. You gotta look up, not Petia Maersk, okay? That was a virus designed for Ukraine, but it somehow ended up infecting Maersk infrastructure. It was disastrous. You gotta read this up. So anyways, the company said the move would result in savings of $600 million in 2024, which is astounding. The announcement was made as the Copenhagen-based Maersk presented its quarterly report, which listed profits for taxes at $691 million down from $9.1 billion for the same period last year. The report cited challenging market conditions resulting in substantially lower freight rates compared to abnormally high rates in 2022. AP Molar Maersk CEO, Vincent Clarick, said the company will continue to streamline its organizations into operations where industry is facing a new normal with subdued demand, key thing here, prices back in line with historical levels and inflationary pressures on our cost base. Given the challenging times ahead, we accelerated several cost and cash containment measures to safeguard our financial performance. The company's revenue for Q3 was $12.1 billion compared to $212.8 billion for the same period in 2022, which is pretty substantial. The news going forward there, especially when it affects shipping, you can see that kind of ripple in to the rest of the global economy. Furthermore, Six Flags and Cedar Fair are going to merge, which is weird. I can't remember the last time I went to any of these. Cedar is obviously way better. Basically Six Flags up 6.93%. Six Flags shareholders will receive 0.58 shares of stock in the combined company for each share owned. Cedar Fair, unit holders will receive one share of common stock in the combined company for each unit owned. This is an interesting approach. I think Cedar Fair is just way better than Six Flags. It looks a lot nicer. I don't know. It's interesting to see them kind of acquire some of that because I feel like it might cheapen the brand a little bit. Folks, thank you so much for joining me. We will have Tommy on Monday. Have a great weekend, folks.