 The following is a presentation of TFNN. The morning market kickoff with your host Tommy O'Brien. Good Tuesday morning everybody. I'm Tommy O'Brien, coming to you live from TFNN. Hope everyone had a great long weekend, great Father's Day out there, back to the market and we got a little bit of green action to start things off right now. You're looking at an S&P, positive by 56 points, that's a solid 1.5% in the green. We were as high, 4 to about 5, 6 a.m. We were up about 10 points higher than what we're trading at right now. So the market pretty close to highs, up 57 points as we come into the opening bell, you get the NASDAQ 100, up a similar 1.6%, 184 points in the green, 11,482, the Dow up 1.4%, 30,294. We were at 29,600 was the handle on Friday, we're a solid 600 points above that price level in the Dow and the Russell right now, up about 1.6% as well. Interesting, you get all four indices up between about 1.4% and 1.6%, usually you'll see some divergence there with growth stocks, with the Dow, with the Russell, not the case this morning as everything getting a lift of about 1.4% to 1.6%, at least pre-market. Crude, we make it to 106 on Friday down from 123 on Tuesday, we're up a couple dollars on the session. We're sitting right at about 110 bucks in crude, goal contract, 1838, we're down $2 on the session and we jumped to notes and bonds, pretty calm action right now, you get the tenure. Down about one tick, we're trading at 115, 28, you get the tenure yield at about 3.29%, pretty remarkable yield. We catch a little bit of a bounce in price, we were almost at a 113 handle, you look at the action man, the move on Thursday to higher price and lower yield, folks, almost can't overstate the move we had, you had a low of 114.10 and you trade up two and a half points, you trade up two and a half points in one single day on those yields, you were well above 3.4% the yield, we're sitting at 3.29, pretty lofty levels though on the yield and we jump over to the VIX to finish up the market, wrap up right now, still sitting above 30, 30, 41, jumping back to the S&Ps real quick. Just the action that we saw last week, now this is interesting, that's the action on Wednesday, let's back things up even a little bit further and go 20 days. The move we had from 41.54, you trade down over 500 points, folks, what is that, 12% pullback in the span of about five or six trading days. Now, we got a couple, we got Fibonacci's everywhere because of all the movement we have going on right now, all right, the lines up here are the longer term timeframe, you put that on a weekly, the S&Ps blow through the 3.82 last week, okay, we're bouncing a bit, that level was about 3800, as I just said, you got down to a price point of about 3639, so well below the 3.82, if you're talking about the 50% or the 618, the 50% at about 3500, the 618 at about 3200, and we'll see where we go from there, the NASDAQ, you're talking about a price level in terms of on a Fibonacci basis that we went way below the 50%, now a while back, you back it up a month or two, remember we were having the conversation where you had the S&Ps were sitting at about the 236, and the whole conversation was, well, we can make it to a 3.82, because the NASDAQ 100 is already at a 3.82, well then the NASDAQ 100 goes from a 3.82 to a 50, now you have both of these indices below that price level, you make it to the next Fibonacci retracement level, folks, in the NASDAQ 100, you're talking about a 5,000 points below we're at right now, that's the 618, 10,440, and if you're talking about the S&Ps going to a 50%, you're talking about about 250 points, 230 points, 3,500, nice round number, that number also correlating on the S&P, to kind of where we had a little bit of resistance from that initial thrust upwards during the pandemic, and if you're talking about pre-pandemic levels, 3,400 was when the market fell off, and about 3,250, 3,200 is where we almost began the year, let's get it, where we opened that week, 3,220 to be exact is where we opened, interesting action, right, when you look at 2020, we kick off the year at 3,200, that's also the 618 retracement from where we're trading at right now, all right, let's jump around to what else we have in terms of headlines, we'll kick it off with, let's kick it off with Morgan Stanley talking about price levels, folks, if you don't think the market can drop another 15% to 20%, it is totally plausible, not sure it's going to happen, Morgan Stanley sees it happen in 15% to 20% more to reflect economic contraction, that's Morgan Stanley, Goldman's Oppenheimer says equities reflecting a quote-unquote mild recession currently, although this year's slump in the US stocks has left them more fairly priced, the S&P 500 index needs to drop another 15% to 20% to about 3,000, now I went over all of those S&P prices levels to show you that that number is below everything I just talked about, which is remarkable, right, you're below the 50%, you're below the 618, you're below where we started the pandemic and you're actually below where we came into 2020, if you pull all the way back to 3,000, the one thing I'll say though, folks, you back things up a little bit further, context is important, we kicked off 2019 at about 2,500, all things considered the pandemic, the shutdown, the harm to the economy that did end up occurring for many people, especially in that service sector, et cetera, quite a pullback, when we're a 4,800 man, that would be a drop of 1,800 points, not a curiosity, what would that be as a general, 1,800 divided by 4,800 ballpark, that'd be about a 38% pullback, if we do get to that level overall in terms of if market makes it down to 3,000, you're talking about about a 38% pullback in the S&Ps, we've seen the market get cut in half very plausibly before in terms of some of the pullbacks, if not even greater than that, 38% with everything going on, we'll see the market though this morning catching a bit at least pre-market interesting that this is kind of the ultimate pre-market overnight session, futures open, market closed yesterday for Juneteenth, even though they trade, they trade higher, they drift higher overnight, we get the opening bell in about 17 minutes, that's when the real trading starts, and we'll see where it goes from there. So yeah, this talks about Morgan Stanley, it talks about Goldman, there's 3,000 on the price frame, I just talked about it there in terms of where we are. Investor sentiment on risk assets has soured, to say the least, as runaway inflation and a hawkish Federal Reserve have raised the specter of a prolonged economic contraction. Wilson, that's Morgan Stanley, Mike Wilson, one of Wall Street's most prominent bears who correctly predicted the latest market sell-off said that should a full-blown recession become the market's base case, the S&P 500 could bottom near 2900 index points, and that is 21% below its last close. Separately, Goldman strategist led by Peter Oppenheimer said they view the current bear market as cyclical with stronger private sector balance sheets and negative real interest rates cushioning against systemic risks associated with structural bear markets. A lot of common sense there, folks, I'm not sure we're going to 2900, but we get some data, it's going to come quick, and the data has not been lining up well in terms of you're already seeing the hit to the economy, okay, you're seeing the hit to the economy, whether you have what, mortgage interest rates at 6.2%, you have energy prices higher, you have food prices higher, you have interest rates rising, my dad says it often, right, your only worth as much as your signature, no matter how much money you have, the signature adds everything to it, right? You see the richest companies in the world take out debt, issue bonds, right? They take on debt. No matter how much money they have Apple, Amazon, all those companies, right, they issue debt even though they have the cash. That's what it's worth. Well, guess what? The signature is worth a lot less right now. When you've got to pay 5, 6, 7%, that's going to translate to cars, it's going to translate to everything. We'll see, man. 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We got the S&P is positive by 57 points right now. We got the NASDAQ 100 positive by 177 the DAW up 415 all the indices up about 1.4 to 1.6 percent as we kick off a short trading week. Let's jump over to our man Kevin Hanks. Every trading day folks 12 noon Eastern time right here on Tire TV, fast market on the TD Ameritrade network with your host Kevin Hanks, Tom White, the team and TD Ameritrade network. They break down the day's market action folks. They walk you through hypothetical option trade setups. Okay. Multileg trades talking about defined risk in every trade that they set up. Beautiful thing in this market. Kevin Hanks. Good morning. Good morning, Daniel Bland. Yep. Nice long weekend and a nice green start to the trading week. But nine days left in the quarter nine days left in earning season. The things are getting a little thin, but we'll still have plenty to talk about this week. A lot of fed speakers Jerome Powell speaking Wednesday and Thursday. So we'll have plenty to keep us busy. But we are coming to the last nine days of the second quarter, Tommy. Hey, what did you think? Did you see, you know, some of the headlines out there talking about some of the analysts you got Goldman Morgan Stanley talking about I mean price levels of like 15 to 20 percent possible if we're below where we're at right now. We started it off with the high Kevin of the S&Ps of 4800. We're sitting right now ballpark 4800. We're sitting at about 3733. I mean those price levels they're talking about right now 3000, 2900, 3100 somewhere in that range. What kind of data are you looking for, Kevin, that we go forward where we finally find out where this market might be heading in the months to come? Yeah, what we need to see Tommy, I think is the key to this market. And could the market go down to 30? Of course it could, right? Of course it can. But it all depends how the data comes out and what the Fed has to do. It'd be really nice. What would really help us out here is if we start to see some dissipation or some weakening in inflation numbers in some of the data. Now, something good happened here on Friday where you had crude oil break pretty hard in terms of futures. Now they're up $2 again today, up almost 2% at $110. But they're already, you heard some news reports of gas prices coming down even just a couple pennies. So I think, and this is my theory, Tommy, 90% of the problems going on with inflation right now are energy related in some form. If you can get energy right, a lot of these problems with delivery with pipelines and with forms of transportation with airline prices and what they're doing, that sounds so much of the problems. So you can see that the administration is really trying to talk down crude oil in every way, shape and form. I think if you're going to attack one place, this administration wants to make their lives a little easier, attack crude oil. That's where I don't buy it. And that's the one stop where you can really take a chunk out of inflation. Not all of it, not all of it, because they're still grain prices are higher, still a lot of commodities are higher. But if you want to attack one thing, go to crude oil. And so that break on Friday, that was significant. However, some of the news reports talking about maybe that's a demand destruction because of a potential recession. So who knows how this is going to play out, Tommy? But could it get down there? Yes, it absolutely can. Good start to the week here, though. Yeah, it's nice to get a bounce after the long weekend. Father's Day weekend, man. Hope you had a great Father's Day weekend out there. Nice to get an extra day off on Juneteenth as well as that coincides. And I did, Kevin. I heard yesterday, driving around the car. We were away for a few days, a little staycation, coming back home. We filled up the car and say, yeah, I think gas prices are a little bit cheaper today. First time we've said that in a long time, man. So I'm not the only one. And from a consumer sentiment side, it is interesting that, I mean, that bill, man, if you're filling up your car once a week or twice a week, it's basically like a grocery bill on its own at this point, man. $80 easy, $90 easy. So just the mentality is something like that. It's interesting to see if that starts to wane. Maybe that frees up just like you're talking about, maybe you're a little bit more comfortable spending a little bit more money somewhere else. If you see that weekly gas bill easing just even a bit, we're still sitting at $110, which is remarkable the conversation we're having talking about lower gas prices with crude at $110, but we were at $122 just a few days ago. With that in mind, Kevin, we are coming into the end of the quarter pretty slow on earnings. We got a couple companies making news today with some stories, but what are you guys going to be talking about? I know sometimes you guys do themes, some longer term time frame trades. What are you guys talking about on the program today? Do you get the lineup yet? Yeah, we're going to try and stay in the names that are in the news or just on the edge of the news. So we're going to start with Target, and how are they going to work towards the end of the quarter here and going forward? Then we're going to do, like Paul is going to do presentation on Starbucks, a consumer discretionary name, and then finally with FedEx coming out with earnings later in the week, we're going to look at UPS today and cover both those, get some wide coverage of the delivery space. So Target, Starbucks, and UPS today, Tommy. Well, one of my gifts for Father's Day, a little Starbucks gift card, man, can't go wrong with a little Starbucks cash to be spending on some maybe some cold brew coffee or something like that. The chart on Target, man. Strong, strong talk, strong, strong stock. You guys have had some great conversations about it. Just remarkable to see the pullback, man, when I pull it up on the Thinkorswim platform down from 240 this year, 268 on two occasions last year, you're at 139, man, basically right where we kicked off the year 2020, almost back to that price level. Well, Kevin, we appreciate the time as always. We appreciate the education and we'll be watching at 12 today, man. You have a great one. Have a great day, Tommy. Thanks for having me on. Always a pleasure. You too, Kevin. Folks, tune in every trading day, 12 noon Eastern time. Bottom line is we're at the end of earning season, so they're not setting up the same type of trades that they might be triggering when you have, you know, the big dogs coming out with their numbers on every single day. You can trade those weekly options, but it's cool this time of year because they go over themes, they go over equities, and what's cool is you see sometimes the different methodologies you can apply to even some longer term time frame trades using options, using defined risk. Maybe they're doing calendars, right? Maybe they're going out to one month on one expiration. They're going out to another month on the other. Maybe they're just doing a straight out spread trade, but they're going out a couple months. Sometimes what they do at this time of the year is that they'll set up trades, okay, that only go up to but not up, but not through a company's earnings. So maybe you're anticipating a company pulls back into their next earnings cycle, or maybe you're thinking the company is going to accelerate higher into their next earnings release, okay? So they're setting up trades, going into those earnings events, yet not through them. So if you're the one, let's say, you're the one buying volatility, right? Maybe you just buy a call spread above the market. Well, one thing you can do is maybe you don't want to pay the volatility premium to go all the way through the next earnings event, right? Because there's going to be extra volatility premium on that next earnings event, whether it's in July or August or even September, right, as the next quarter comes, just some of the trades they set up, all of them have defined a risk. I learned a lot watching that program with Kevin, Tom, the team over at TD Ameritrade Network. Check it out, folks. Great program at 12 today, and we're going to see what kind of an open we get when we come back, folks, because as I said, the start of the program, kind of the ultimate overnight session, right? We'll see if it holds many times as we've come into the open. We've seen some fireworks on one way or the other, and right now we come into the open with the S&P up 58 points, but that's basically in a day and a half of overnight trading. S&Ps up 58, 37, 33, state folks, right back for the open. If you want to take advantage of this sector, now is the time to subscribe to my gold report. The gold report is a comprehensive look at the metal sector, as well as the markets that move gold, which is the currency and bond markets. New subscribers get a 30-day money back guarantee, so you have nothing to lose. Every Monday morning I published a gold report with coverage of gold, silver, bonds, DXAU, HUI, GDX, as well as more than 30 different mining equities. To see for yourself the types of profitable trades that are recommended within the gold report, sign up now by visiting tfnn.com. Don't miss out on the next great gold trade. Sign up today. TFNN has just launched their new trading room, the Tiger's Den. 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Don't miss out on this incredible new piece of software. Get your copy of The Art of Timing the Trade Charts today by visiting TFNN.com. 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. And just like that, we've got markets open, folks. You've got the S&Ps up 61 points. That's 1.7 percent in the green. The NASDAQ 100, 1.7 percent, up 188, and you've got the Dow up 1.5 percent right now. We jumped to commodities. Crude, yeah, you were all the way to 106. And interesting, right, Kevin's talking about maybe a little bit of cheaper gas prices. First time in a while, I think all of us maybe have seen a little bit cheaper gas prices. You dropped from 123 on Tuesday to 106 on Friday. You should see some cheaper gas prices when you got crude dropping that dramatically. This morning we're up a bit to that even price level of 110 right now in crude. Go contract. Negative three dollars right now at 1837. And we jumped to the notes and the bonds getting a little bit of a pullback. The 10-year now negative by three ticks just chopping around at about 115.25. And you can see that area 115.25. That's kind of been the floor from where we were Friday morning at 9.30, where we were at six o'clock Sunday evening when the futures opened and also where you were in the 10-year. That's at about 10 o'clock last night that price level. Kind of interesting that you're kind of correlating to the highs that we had of maybe Wednesday and Thursday as well. 115.25 in the 10-year. We jump over to Kellogg. They're going to be splitting into three companies. They're up 5% today. You jump from 67 dollars in change. You reach a high of 73.50 to pre-market. You're trading at 70.93. And the news out there that they're going to split into three companies to promote growth. Global Snacks is going to be the largest company after the tax-free spin-offs. The other units focus on North American cereal and plant-based foods. Pretty remarkable that you can have a whole entire company that's just for North American cereal. Let me tell you something, folks. All right, there is healthy cereal. But like, and I'm going to generalize, 99% of the cereal that probably gets eaten in North America is just not healthy, period. You know, and you think that eggs and bacon, all that stuff is going up. Have you seen the price of cereal, folks? Okay, so maybe you go out and eat some bacon and eggs or eat some eggs and some egg whites, something like that, some vegetables, right? Some fruit. Go eat some fruit. Fruit very expensive as well. But cereal is getting expensive, man. And it is not healthy. Remarkable that they can spin off just North American cereal to its own entire company. Plant-based foods, the third one, and global snacks. Nothing like snacks, global snacks, spinning off. So three companies is what they got, Fruit Loops, and well-known other breakfast cereals. Yeah, I would say so. Good old Fruit Loops. And listen, I love cereal, man. I could eat cereal all day. That's the problem. Yeah, that's the problem. You can eat it all day. There were split reflex Kellogg's expansion well beyond its roots as a maker of cereal. The pandemic drove heavier demand for packaged goods and snacks while plant-based foods also have gained popularity. Yeah, they're up about five, six percent on that decision. So interesting to see how that plays out. Let's see. The global snacks business had sales of about $11.4 billion last year while the young plant-based foods led by Morningstar accounted for $340 million. North American cereal, $2.4 billion in a year. Morningstar, they do have good stuff. I've had some Morningstar, some of those plant-based like sausage or stuff like that. Yeah, so they split it up. The market likes that idea. They're up five percent right now. All right, where am I jumping to next? Where did I pull up here? Yeah, let's talk a little bit of movies. So Pixar's light year snares $51 million in domestic opening. So this is Disney. It's Pixar, $51 million in domestic opening. The market, though, analysts were looking for a domestic opening of $70 to $85 million domestically. Quite a big miss when you look at it in that context. Internationally, they pulled in another $34.6 million in sales. So the total global is $85.6. But that number that they were looking for was domestically 70 to 85. So I'm going to get into some of the analysis because it's going to be interesting to see how this plays out here in terms of coming off the pandemic, coming off Disney releasing the last three animation films from Pixar to Disney Plus alone. When you look at the last Toy Story films, okay, they both opened with $100 million in ticket sales, the last two of them. You had Toy Story 4 in 2019 that came in at $120 million, okay, and Toy Story 3 that generated $110 million in 2010. I mean, some part of this maybe is that they're just struggling to regenerate. I mean, I hear a Toy Story, Toy Story was around when I was a kid, right? And I'm sure I'll watch it at some point. Why not? Got kids in the house, right? But what they also talk about is that there were a number of other movies that were released at the same time. So you had Jurassic World. Now, we get a lot of money being spent in the movie theaters, again, folks, because check out these numbers at the same time. So domestically, you had Light Year pulling in $51 million. You had Jurassic World pulling in $58.6 million over the weekend. And then you had Top Gun pulling in an additional $44 million. Add those up. I mean, what are you pushing? You're pushing, what, $150 plus million for the weekend. So that's one part of it. They were talking about, did the film open up in a market too crowded with male driven films, okay? Was marketing ineffective at pitching the idea that this movie to both generations of Toy Story fans, right? You're talking about, I grew up when we had Toy Story as a kid, now you've got the next generation as well. Or has Disney's strategy of siphoning Pixar movies straight to streaming over the past two years backfired and hurt the brand's value? Possible. It's all possible, just like Kevin says. Is it possible? He has to be able to go 3,000. You better believe it's possible, folks. Is it possible that the strategy of prioritizing Disney plus ahead of those theater releases is going to wane some of those numbers that you might get in the theaters? Of course it's possible. There has not been a theatrical release of a Pixar film since 2020s. Onward, the last three animation studios films, Soul, Luca, and Turning Red were all released on the streaming service Disney Plus. So it'll be interesting to see how that plays out. Good old fashioned summer holiday weekend, three films earning more than 40 million dollars. So, you know, that's what I would pay attention to, folks. You think movie theaters are dead? We just had three different movies pulling 40 million plus at the theaters. And what's going to happen is maybe I wait for Buzz Lightyear to be at home. So maybe, yeah, I don't go to the theater. But guess what? They're getting a lot of money from me for Disney Plus as well. I imagine in the long term that is a winning strategy, folks. And movie theaters, I'd say they're already back with those numbers, folks. You're talking about 150 plus million spent to the theaters this weekend. It's a summer movie weekend. And people very comfortable with being back. I would wonder how they got to those numbers, right? You know, analysts, that's what they get paid for. But how do you pick a number, 70 to 85? What's the difference between 51? And what were the analyst numbers? Okay, this is where you see articles written, folks, and CNBC, not a fan, all right? Somebody was in there cracking jokes about CNBC earlier. Not a fan. I get some of the fundamental numbers in there, but analysis do not go to CNBC, television, or their website for analysis, folks. Because you know it's an important context of this story. All right. Is what are the analyst numbers for Jurassic Park this past weekend? And what was the analyst number for Top Gun this weekend? Because what were they looking for for a total gross over the weekend if they were looking for light year to pull in 70 to 85? Were they looking for the total gross number to be 150? Split about among those three numbers? You get the point. There's a lot of data that comes into there. So be careful sometimes the headline. You see a miss there, but was that miss because people weren't coming to theaters or was that miss because this movie particularly failed? We'll find out as the future goes. All right, what else we got? Yeah, we'll talk a little bit of NFTs. The NFT craze does not stop. We'll give a little bit of a tease and we'll talk about this when we get back what time we get. Yeah, we're about to go into a break right now. And we get the markets continue to trade. All right, let's check on that before we get into it. Look at this pop. We get the S&Ps. Now up 2.1%. We'll call it 3751. We're above where we were pre-market. Nasdaq surges up 2.5% right now. Dow up 1.5%. The Russell gives it back actually as in only up 1% right now. Apple shares. Look at that pop. Up 3% 4%. Stay tuned folks. Be right back. We'll talk a little bit of NFTs. We'll take a little bit of crypto market. We had quite a pullback this weekend. We'll be right back. Are you in the market for buying or selling real estate in the Bay Area including the surrounding St. Petersburg, Tampa and Clearwater markets? 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We get the S&Ps up 80 points right now, 3756. That's 2.2% right now. Nasdaq 100 up 2.6% right now. We'll jump around to the Fang stocks. They are rocking, man. Dow up 1.6% right now. I jumped to Apple before the bank. 3.5% I've said it before folks. Apple 16 plus billion shares outstanding. So what do you got? $70 billion in market cap just added on the open. We get back everything that you had in terms of where you were Wednesday that high at $137.34. We got Amazon trading higher up a similar 3.3% right now for Amazon shares. You jump over to Microsoft up 2.5% right now. See how Netflix is trading. Not really a Fang stock anymore and Netflix actually flattened this market. Watch out for that. Wonder if that has to do with some of those Disney numbers. You checked out Disney. Look at that drop off. Disney flat as well. I talked about maybe a little bit of a disappointment. Always interesting folks. The pre-market to when the market opens. Do not get lulled into thinking that the pre-market price action is completely determinant of what will happen on the open. I mean check out Disney. They had all that news coming into the open and whatever they did they traded it down $2 right on the open as the market traded higher. Let's jump around some of the airline stocks. We'll start off with Boeing. They're not an airline stock but this thing is going quite a pop. From $113 last week we're trading up about 6.10%. Up again though. Boeing look at that little sell off though. They sell off about $3 on the open there. Boeing up $0.70 right now. We jump over to Delta. A little bit lower. Interesting action. We're getting a pullback on the airlines right now with I guess growth stocks trading higher, market trading higher. A little bit of a rotation from what we've seen. You get Delta right now negative. Yeah American in the red they all kind of sell off right there on the open. United flat. We jump domestically. JetBlue giving it back as well down about 8.10%. Jumped Southwest down about a percent. The cruise ships had just a huge run on Friday and Carnival gives it back a bit down about 4.10% and let's jump to Norwegian. Yeah they give it up as well down about 1.10%. All right let's jump to this crypto story. So NFT startup Magic Eden. Their valuation searching tenfold the 1.6 billion. What would have happened if crypto wasn't crashing for this company? My goodness. The funding round yeah comes during downturn that's hit crypto startups. So this is a marketplace for NFTs on the Solana blockchain. Saw the value surge in a fresh funding round despite the slowdown investors have plowed fresh. Extra fresh. 130 million into the startup and that pushes the valuation to 1.6 billion. That's tenfold what they saw in March. So imagine in March whole company was worth about 160 million. Fast forward to June and you pull in 130 million in cash to value the company at 1.6 billion and since then okay to show you real quickly and I know you know but since March you've seen crypto and Bitcoin get cut in half as their valuation has surged tenfold. Right crazy. Now a couple quotes in there that are interesting. Yeah they talk about of course you got people laying off money right. You got crypto.com slashing their ambitions and their workforces. Monthly global sales for NFTs have decreased about 34 percent between January and May and Solana which is what this is based off of down about 80 percent this year. But I'm not too worried about overpaying because the headwinds will last 18 maybe 24 months not six years. And that is from somebody who's co-leading the round with Greylock partners and an interview you have to be patient with crypto. I mean if you got a six year trading plan horizon and you're a believer in the technology and what it can do maybe it's worth it. Founded last year and based in San Fran they operate an NFT marketplace similar to OpenSea an atomic market earning revenue by taking a share of each transaction. They've grown quickly and attracting users who like Solana's efficiency lower cost and that's one of the things man if you want to crypto folks. All right find one with a practical use. Because so often cryptos have actually no use to use the phrase that many phrase that many have used it's a greater fool theory as in the only thing you're doing is buying something that you think somebody else may pay more for later. Now you can say that about other things okay but Bitcoin is really not a store of value we've seen that you've gone from 70,000 approximately down to about most of the low of the weekend 17,000 to change something like that. So all you're doing is you open you get Bitcoin somebody else trades you more money than you paid for that Bitcoin. Some cryptos though actually have a function that they can facilitate transactions. Ethereum being one of them Solana I believe being another. Keep that in mind when you you know stake in your claim into the crypto sector. Now check out how tiny this company is okay. Magic Eden was the ninth largest NFT market in March according to DAP radar not familiar. Now it's second just behind open scene users and transaction volume as of Friday. We weren't intending to kick off another round immediately but we had a lot of interest that's their CEO and co-founder Jack Liu a lot of investors still feel we're very very early. So Liu co-founded the startup with another gentleman can't get that name said the company had 7.5 million in revenue in May and they're pushing 1.6 billion valuation profitable from the start maybe that's helping them out a little bit annual revenue run rate of 100 million. The company only has 50 employees. The company will use the new funds to increase headcount to about 140 from its current 50 and grow in what Liu described as a responsible way over the next 6 to 12 months during that time and aims to expand and consolidate its collection of Magic Eden minted NFTs. Be careful in the NFT sector folks that seems like ripe for scams we're seeing it happen all over the place. So be careful in that crypto sector but when they say crypto is dead yeah not just yet to say the least. All right let's jump over to banks. Banks big banks led by JP Morgan set to return 80 billion dollars to investors the Fed stress test will determine the size the buybacks and the dividends COVID halted buybacks in 2020 inflating last year's capital is the number and they're going to return 80 billion dollars to shareholders this year after the stress test less than last year's elevated levels but that of course coinciding with the fact that they couldn't give them out in 2020. JP Morgan 18.9 billion in combined dividends and buybacks even as they spend more this year to build out their offerings Bank of America and Wells Fargo going to return 15.5 and 15.3 billion according to data the largest US banks are expected to pay out that 80 billion the black is in dividends the blue is in stock repurchases there's JP Morgan Bank of America Wells Fargo look at Wells Fargo right pushing 15 billion and then it's rounded up by Morgan Stanley City and Goldman all right we're going to jump from there to a little bit of real estate some interesting statistics here in real estate and how this may play out into any economic impact we have let's jump to the banks real quick before we do to see how they're trading look at that JP Morgan up 3% right now Bank of America up 3.7% right now Morgan up 2.7% Wells Fargo up 3% right now all of them catching a little bit of a lift today okay jumping to housing some interesting numbers in here the headline from CNBC here's why this housing downturn is nothing like the last one probably nothing like the last one it could be a little bit like the last one but definitely not comparable to the last one in any staggering degree okay but some of the numbers I want to pull out of this perfect we're going to tease it a little bit we'll start it off for the 53.5 million first lean home mortgages in America today average FICO credit score 751 with $699,000 talk a little bit about the actual numbers of mortgages equity right back 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 and it's not just dry tedious text either TFNN airs live financial content streamed live on TFNN.com and TFNN's YouTube channel with Tiger TV live every market day from 8 30 a.m. to 4 p.m. Eastern for free each host is an experienced trader 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here are the numbers I wanted to point out 53.5 million first lean home mortgages in America today average credit score 751 it was 699 in 2010 two years after the financial sector's meltdown home prices have soared as well home equity the so-called tappable equity okay and that's the amount of cash a borrower can take out of their home while still leaving 20 percent equity on paper 11 trillion dollars this year okay that's a 34 percent increase from just a year ago now we all know we could see a pullback all these numbers may wane but it seems like we have a nice buffer here in the real estate market especially total mortgage debt in the United States is now less than 43 percent of current home values the lowest on record negative equity basically doesn't exist compare that check this out to more than one in four borrowers who were underwater in 2011 just 2.5 percent of borrowers right now have less than 10 percent equity in their homes and then they get into the adjustable rate deal there are currently 2.5 million adjustable rate mortgages or arms outstanding today or about 8 percent of active mortgages that's the lowest volume on record okay arms can be fixed usually for terms of five seven or 10 years arms today are not only underwritten to their fully indexed interest rate but more than 80 percent of today's arms okay also operate under a fixed rate for the first seven or ten years so they're adjustable but they're adjustable after that period of time in 2007 there were 13.1 million arms or more than one out of every three mortgages that is quite a statistic just out of S&Ps up 55 folks the week is off to a start stay tuned our man vows is up next live programming all day have a great one vote