 The following is a presentation of TFNN. The Morning Markets Kickoff with your host, Tommy O'Brien. Good Thursday morning, everybody. I'm Tommy O'Brien, coming to you live from TFNN. Just after 9 a.m. Eastern time, we got about 24 minutes to go until the start of trading. You have initial jobless claims. We're at a two-month high this morning, quite a day yesterday, man, a privilege being on here at two o'clock. Those are always the quickest half hour that I'll ever do on the air, man. When you get that statement at two o'clock, you jump around. We're all tuned in into the press conference, of course, at 2.30. The markets came into that event last night at about 4,912. You got an initial pullback to 4,900. The market liked when the chairman started talking at about 2.30, as you trade from 4,900 up to 4,930. And then the chairman, clear as day, told you that he does not think, was not certain, okay, leave that one open, man, depending, we're gonna get a lot of economic data by the time they have that meeting on March 20th, okay? It's a March 19th, March 20th meeting, announcement, press conference, March 20th. In his feelings, he couldn't be more blunt, man. So I don't think that we'll have the confidence that we need to start cutting by the March meeting. And the market said, oh, what, what's going on? And nonetheless, we trade lower, man, from 4,930 at that price point. As I said, we came into the event last night at about 4,913, you trade down to 4,866 overnight on the S&Ps. Now, we have a little bit of a lift going on. What's going on here? It's not showing up on my charts, let me get it. Come on, maybe a 15 minute gets you there. There's your 15 minutes, so you see the acceleration. It's just been a slow crawl, no huge action here. Be careful in this market. You're showing up by 15 points. But do you see the action overnight? Not exactly indicative of much strength. All you've done is just claw back to where you were at about 7.30 last night. And all that's done is, you really take the Fibonacci of this moment. We had a huge move last night. Yeah, basically all we did was trade up to the 3A2. Oscillate around that area as of 7.30 AM this morning. We're trading a little bit lower. It's gonna be an interesting day, man. So we got jobless claims today. Three of the biggest companies in the world reporting after the bell, Apple, Amazon, Metta, after the bell tonight. And then of course we get the main event of the week. Jobs report on Friday, very important, considering what the Fed had said. Listening to, so it was great. We did two till 2.30, I was on the air. 2.30 until about 3.10, 3.15, what time the chairman finished. Something like that. His press conferences usually run about 45. And then my dad comes on the air and it was great to hear him come on. He said, they're afraid? They're afraid to say that they've done it, right? And I understand why they've been wrong for so long but I couldn't agree more. And I know he's my dad and I'm probably a little bit biased. But yeah, I mean, they got a six month core PCE number running at almost sub 2% and he talked about great data for six months. We gotta make sure that that data is sustainable going forward, et cetera. When you start dealing with some of the comps and that's probably what they're talking about. And listen, they're looking at goods in there, right? They're looking at the trends that you've had a deceleration in prices in certain areas. He noted that those areas are eventually gonna come back to 0% and then you're gonna have to get other areas that contribute to decline back to 2%. But how long does it take then if it's not gonna be March, right? And on top of New York Commodity Bank and listen to the press conference, I wish there had been a couple questions or even one that got into that one a little bit more. They're obviously unfazed by the chairman's words, okay? But he always leaves himself open and there's gonna be times that he's gonna get to make speeches before that March meeting, the data can change and we get a very important data point that kicks things off tomorrow morning. We jump over to the NASDAQ 100. We get three data points this afternoon as well. NASDAQ 100, we claw back more than the S&Ps, right? Look at the action of where we are in the NASDAQ 100. You're actually back to where you were almost coming into that event. That's your two o'clock bar. We were at 13,400. We're only 70 points off that price level after quite the acceleration. To put it in some context here, you look at the Fibonacci on the NASDAQ 100, you just saw what it looked like on the S&Ps, right? S&Ps only got a 0.382 bounce. My dad was talking about the volume in the spy yesterday too. Yeah, pay attention to that volume. NASDAQ gets almost half of it back, just like that. You have a boost going on in some of those equities. Dow in negative territory, you're in off 18 points right now and you get the Russell, positive by 12. Bitcoin, 42,555 this morning. You jump over to crude, crude up 62 pennies at 76.48. We jump over to the gold contract, quite the volatility for gold yesterday, right? Up to 2,074, down to 2,050. We're catching a bid yet again, gold up to 2,062 right now and you jump to notes and bonds and what do we got, folks? Pretty remarkable. Higher price and low yields, coming at you just like that, even as the Fed says they're not ready and get ready for this. We got a 3.8 handle. We got a 3.8 handle on the 10 year as I come on. When's the last time that happened? Let's take a look at the chart. Yeah, you are. You're pushing these levels yet again. Let's put it on a weekly. So we are not even at back at the highest. Didn't even realize it. That's quite a number. I guess we did get below 3.9 on that pullback initially. Pretty remarkable how yields get ahead of it. What is the Fed gonna do if the 10 year race is to like 3.6? We're at 3.897. We're at 3.9. Okay, we're at 3.9 if you're on it. We were just about 5% folks in October. It's February 1st. Pretty remarkable when you put it in that context. We jump around to the dollar index. There's your 15 minute chart. Dollar spikes higher. We spike higher and we pull back a bit and you're just right back to where you kicked off yesterday morning at eight in the morning. Dollar at 103.53 on a little bit of a longer term basis on the dollar. We're right at that 3.82. You know, I had a great conversation with our man, Teddy Kakes, that yesterday. You can always, we archive those special segments. We do right on our YouTube page. Just search TFNN. Please follow our page. Subscribe for those notifications as well so anytime we get live. But you can access those great interview. And yeah, I mean, look at this. Look at this shop right at the 3.82, man. You're talking about over a two week period. Look at these bars, right? Just shopping right near 103.50 on the dollar. But boy, if we are getting quite a reversal, okay? Now you put that in context here and we're jumping around but we got a lot to talk about today. You know, you have yields back at highs right now. Seems like the dollar is gonna be poised for a pullback here, okay? Because what do we have? We have the dollar shopping around right where this area was in the 10 year. You've now had an acceleration higher which means we have lower yields we're back under 3.9% and you haven't seen that dollar weakened though yet, right? And that dollar should weaken if we have lower yields coming at you which I think the market is telling us is gonna happen because I think they're on the side that the Fed has waited too long. And you know what the bummer of it is? Is that they waited too long on the first side and I remember a while back before all this confusion set in saying, hey, listen at least they're gonna do it both ways, right? They waited too long and we got caught with generational inflation. Well, as long as they wait too long on the other side to make sure it's at least gone at least they're being fair to where they sigh in terms of waiting to be sure. It seems like that's good what they're gonna do and the market's saying, hey man we're going lower on yields right now at 3.89%. Stay tuned folks, we're coming back when we'll be talking to our man Kevin Hinks from the Schwab Network Fast Market we'll be right back in three minutes. 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You're positive by 16 points. Back to a short-term timeframe chart. You see the acceleration yesterday. We're chopping around at that 382. We're trading at 4887 right now. Yeah, you gotta jump to some of the headlines, right? And boy, the headlines right themselves. Water Street gets a reality check as Powell saps the fast rate cut bets. And it's pretty interesting that, you know, I mean, some of what the market is pricing in right now is still pretty lofty in terms of what could be expected, man. We've been taking a look at the CME FedWatch tool and folks, this is not like a religion, okay, that you gotta follow this. But just to understand that there's plenty of market participants here who are still looking for the possibility that a cut is coming down the line. Now, we were looking at this yesterday, okay? And you can always go back to the program yesterday. If you wanna see the odds from yesterday, all right? And actually, I think it even shows you one day removed. Yeah, so check it out, it's perfect. It shows you going way back, man. This is bonkers when you look at where it was. Yesterday it was about 50-50, right? Point being, either way, this is the probability right now as of the March meeting that we're basically staying where we are almost two thirds percentage, right? 62.5% of the time, staying where they are and a cut at about 37%. Chairman Powell will probably say, come on, man, what more can I say at that meeting to bump that number down from 37%, even when I tell you that it's not likely that that literally will happen in terms of that. You go out to May and you're talking about, now there's only a 6% chance they don't cut, okay? So if we're only talking about March to May, is it that big of a deal? Well, I don't know. Depends what happens in this economy, man, right? The New York community banks out there, they're saying it's an outlier, but we've heard this before, okay? And I don't know anything about the fundamentals of the banks, folks, okay? But the one thing I do know is that I remember hearing before how everything was so isolated until we kept finding out that it wasn't isolated, right? And New York community banks should have been okay. This is the one that should bring the alarm bells because they should have been okay. The management's saying, hey, listen, we had to recalibrate things here because we purchased signature. That put us over the 100 billion threshold. As a result, we have greater scrutiny, greater regulations we have to deal with. They do that going in. So don't tell me that that you're gonna make a decision that one year down the line after that decision, literally 11 months later, this is what the chart looked like before they made that purchase, folks. The banks are falling apart. They were paired over the weekend from March 17th to March 20th, March 20th. That was the impetus from the market to catch quite a bit along with the banks. This bank trades from $6 before they announced that purchase of those assets up to 1422. And just like that, basically overnight, you go from 10 bucks down to 650 on the fact that the credit worthiness of their assets are not what we thought they were two days ago, folks. And that should be the biggest wake up of all. Yeah, that's only less than a year ago. They were calculating what they were buying there. It seemed like it was a great deal, right? We said, oh man, that was a no-brainer. How did they get so lucky, right? They buy the assets, they help out the whole industry. You trade from 650 up to 14 in the span of what, five months, six months. And you really trade it even the next day from nine up to 14. Anyway, point being, be careful of what's going on there. You have other banks coming out saying they're fine. My dad talking, the charts say that they're fine, but we've seen this one before, so be a little careful because they made a miscalculation to put it lightly. And there's no reason why they should be the only one that made that miscalculation. But guess what? We've seen it before with some bad plays. But remarkable that regulators would allow them to take over all those assets somehow and allow them, you know, it just doesn't seem like that. It seems like this came out of the left field to steal that phrase. Okay, let's take a look at what we have happening for tonight after the bell. Apple shares, biggest company in the world, continues to slide, man. Just going back five days, a week ago, we're at 196, we're at 185, just like that. This company's got 15 billion shares outstanding, 196 to 185, that's $11. You're talking about $165 billion, wiped out from Market Cap. They'll be out with their numbers after the bell. Market's looking for about a $5.76 move priced in for the event. If you want action through Friday, you're paying about a $6.25 implied move in either direction. So what you do is you cut that in half. If you wanna make a directional play, you wanna be bullish, you wanna be bearish, you gotta put up about $3.20 about, which is what, not that bad, 2%. Apple's got a 4% about volatility in it. You jump over to Amazon shares. They're out with theirs after the bell. Amazon, $8 move in either direction. $8.70 move for Friday action. You cut that in half, you're looking about $4.35 in either direction, $155 stock. So what's eight bucks? Yeah, like 6%, right? So Apple's got about a 4% implied move in either direction. Amazon's got about a 6% move in either direction. Look for their cloud, right? How's AWS gonna be doing out there? They're the leader. But boy, they got some lofty expectations with Microsoft grown Azure at 30%, right? AI adding 6% points of growth to Azure. What's gonna happen for AWS? Yeah, it's gonna be a big one, man. As in a very important data point for Amazon when the expectations are so high with the likes of Microsoft, especially the biggest company in the world out there. And then we jump to Meta. So Meta, they're talking about Meta in the den this morning. Meta, our man, Basil Chapman's talking about that. Those Meta shares. And don't forget, Basil's coming up next, folks, with the Tiger Technicians Hour, as always, following our program. Meta shares, you're up by four bucks this morning, right? Getting back some of those losses, man, check it out. You are right back to where you were at 2PM Eastern time yesterday on Meta shares at 394. You were as high as 398 yesterday. This way, this thing has been on a one-way trip to higher price. It was interesting that Zuckerberg was in front of Congress yesterday. I saw some of the clips from it. And, you know, you got politicians showboating and making valid points in this. You can be doing the same, you know, two things at once, folks, making valid points while you're showboating for the cameras in the same way. They're not fools. They know these things. We're gonna be all over the internet when you got Zuckerberg. Apologizing in public to victims that have been a victim because their kids are using Facebook, whatever it is, right? Very serious issues. What I found remarkable though is how well he handled it. I really did it. Very obvious that there had been tremendous amount of preparation, I think, in terms of his answers, the calmness, the coolness, I can imagine him just almost like a politician prepping for a debate in there, prepping for that. I think he handled it really well. I think he's been in front of Congress eight times now. Eight times maybe. So they just bring it up in. So when you tell them, oh, it's not showboating. It is showboating when it's eight times, folks. They bring them in eight times and nothing's happened, man. And we know the things that go on on Facebook, I don't think Facebook is good for the health of, especially teenagers, can't imagine having to grow up as I take my detour with social media in the age of social media. I mean, high school kids, that's a tough enough social time growing up anyway before you had all of that. Remember the clicks, right? Everything's got its clicks. Now you got social media, man. I can't imagine. But he handled extremely well. And I found myself saying, you know, in a dichotomy versus how Elon might handle something like that, if you're a shareholder of MetaShares, folks, that's the way you want to see your handler, whether you agree with it or not. You could tell he was prepped, he was ready, get a little bit of a pullback. Nonetheless, MetaShares, they're gonna be after, out with their numbers. And we're gonna take a look at this one, man, because you got a $22 move and MetaShares. They're out with their numbers as well. Stay tuned, folks. Going back for the opening bell. Don't go away. TFNN has just launched their new trading room, the Tiger's Den, hosted at Discord. TFNN has been educating traders for more than 20 years, with live programming hosted by a variety of professional traders during market hours. And now they are expanding their reach with the Tiger's Den, available to all Tigers and Tigris' for just $1 for the year. There's no catch or added costs when you join our community of traders. In the Tiger's Den, you can look over the shoulders of Tom O'Brien and the other TFNN hosts while they analyze charts during their live Tiger TV programs and join an interactive trading community with hundreds of members exchanging ideas, interact with other Tigers and Tigris' as they share trading ideas, news analysis, and discuss the market action all trading day, even at night and on the weekends. The Tiger's Den at Discord is accessible on mobile or tablets as well. So it's always at your reach. To sign up today and become a part of this educational community of traders, just visit the front page of TFNN.com. Currencies, 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. Teddy releases his weekly Tiger Forex Report every Monday morning with coverage of all the major currency pairs, including the dollar index, the euro dollar, pound dollar, dollar Swiss, dollar Yen, as well as many more, and he also has weekly coverage of the crude oil market and the 30-year T-bonds as they both influence forex markets tremendously. When you sign up for the Tiger Forex Report, you also gain instant access to Teddy's 60-minute webinar archive. 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You got some extreme volatility yesterday with the market. You see the pop that we get. Now, newest comes out Tuesday. $55 billion pay package is canceled. This thing goes to 184. You spike higher coming into the Fed event. You trade lower with the market. We're basically flat this morning. And it is interesting, okay? That's the, can we all agree that it's a very interesting topic having a pay package of $55 billion retroactively, retroactively taken away. And I joked yesterday, right? If you retroactively gave any employee a pay cut, what does their performance look like going forward? Just use that analogy, folks. Now imagine that you give it a $55 billion retroactive pay cut. $55 billion retroactive pay cut over the last six years. We're taking it all back. We already gave it to you. You haven't had options, but we're taking that $55 billion back and we expect you at your desk at eight in the morning with a smile on working your hardest tomorrow morning. You ready for that? You get the point, right? With that in mind though, probably a good thing for humanity when you start seeing this and for the legality of things in the way that it's happening and how it's coming down. Now, listen, there are very real deals here talking about what I invest in that versus should it be illegal, okay? That's a completely real conversation. I think it's an absolute joke that they gave them $56 billion. But I'm allowed to think it's an absolute joke and guess what? I think that a way a lot of companies probably run their pay structure as a joke, but I don't invest in them. And if you don't wanna invest them, that's fine. It should be illegal though, right? Understandable question, very real. And then you go to the case that when they made this deal, okay? For Tesla, Tesla was worth about $53 billion, something like that when this was made in 2018, right? You had to hit $650 billion for the final tranche of options to materialize, okay? So you had to multiply the value of that company 12-fold over the period of that time. You take Tesla from a company that's valued at $50 billion up to a company that was valued at its height. What was it, $800 billion? $850 something like that, so well above that level. Now you jump over here right now, and what are we sitting at this morning? $600 billion is where we're at, okay? Well, if we're at $600, now we're above a trillion then, right? I don't know, share structures have changed a little bit. I don't know that's happening, but maybe we were above a trillion. Maybe somebody then can help me out, or we might've been. So you can make the case, right? Very real that Elon takes a company valued at $50 billion. The board says, hey, if you bring us to 650, we'll pay you 50 of it, because guess what? It's not gonna be a big deal. You're gonna add $600 billion to shareholder value. So why is it a big deal if we pay you 50? I know that's an outlandish, godly amount of money, but if you bring 600 to the bottom line, what's really gonna matter, okay? That is a very slippery slope to, especially when the relationships that exists between Elon and his board members, the way they are, the board members are supposed to protect shareholders, not the CEO. Elon's a special character, right? But he's not supposed to get CEO pay because he founded that company. So back to that scenario where you talk about, well, if a CEO is adding that much value, why is it such a big deal if you pay out that much money to the CEO if they've added many, many, many multiples more to shareholder wealth? Well, take the example of Tim Cook, folks, okay? Tim Cook took over in 2011 when Apple shares were trading at $12. Think the company had a market cap between about $200 to $300 billion at that time, okay? In the last 12 to 13 years since he's been the CEO, he's taken that company from a $250, whatever it was, something billion-dollar company up to a $3 trillion company. He has added $2.7 trillion of market capitalization to that company as he's CEO. I think shareholders would have a very real case. If somehow he was friendly enough with the board that he was getting similar pay packages to Elon all the way up on those echelons using the case, well, if you pay me $600 billion, is it really a big deal if I still added $2 trillion to market capitalization under my CEO tenure? So be careful of that argument a little bit. And the fact that Elon is friends with everybody on the board, all of that stuff that happened to it, the one thing I will say is the retroactive deal, right? It comes up after the fact. Now, I don't know how the lawsuits work, but it seems like they free-rolled him a bit, is one term that you're using gambling, as in they gave him the pay package, you let him work for the pay package, you fight it once it's rewarded, and if you know it's illegal and you don't, but in that case, the shareholders actually got some free value there because Elon was under the oppression, he was gonna get the pay, he works for that period of time, then they challenge it and take it back versus challenging it in the beginning. I don't know how that works. Now, we bring all that up, okay? For the case that Elon is looking to bring Tesla to Texas, okay? Where are we? Here we are. Elon Musk says Tesla will hold a shareholder vote to incorporate in Texas after a Delaware pay snub. Be careful in Tesla shares, man, okay? I don't think this is gonna happen. Why is this not gonna happen? Because the reason why he's moving is to take more money out of the company than Delaware would allow legally without hurting investors unfairly, okay? That's the reason why he's moving states. That is going to get challenged and it's probably gonna lose because that's not a very good reason to move your company when your shareholders are gonna say they're doing it, though, to take money from the shareholders unfairly, which was just what was adjudicated by a Delaware judge. And then you go to the case, right? In terms of raising money. And listen, the richest man in the world, he's not the richest man in the world anymore today, though, folks, okay? He's not gonna have trouble. Well, he might. He burned a few people on Twitter, right? He's gonna have access to capital, okay? But when you move a company like this, the last part of this conversation, okay? People like investing in companies where they know they're protected from sound legal judgments. And Elon wants to go to states that you might not find that same sound legal judgment, okay? Listen, at first glance, man, I'm talking to friends. I understand. And this is an important conversation, okay? Because if we start allowing Elon to run the conversation that somehow as CEO, he gets a $55 billion pay package that's fair, that's rewarded by a board that's compensated for hundreds to millions of dollars themselves, this is a public company. The shareholders run it. If you don't wanna do this, you don't have to do this, okay? That's the last part of this conversation is this only keeps coming up because he's running public companies and selling shares to other people. When you own a company, folks, you can do whatever you want with it. And remember that difference, okay? The reason why Elon has worked so much money is because he went to public and sold at multiples that only a public company can give you. And then he complains about the rules. His wealth is built on the literal foundation of taking other people's money to buy your shares at multiples that any private business owner would dream of, okay? And then he complains when the legality of that is to protect those shareholders in the same way. So be careful of Tesla, man. Because I think he's not gonna get that pay. He's not gonna be able to move the company and he's gonna want more money than they're gonna give him. And so that's a tough one for Tesla. Stay tuned, folks. We got a lot more to talk about. We'll come right back. TFNN has just launched their new trading room, the Tiger Zen, hosted at Discord. TFNN has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours. And now they are expanding their reach with the Tiger's Den available to all Tigers and Tigresses for just $1 for the year. There's no cash or added costs when you join our community of traders. In the Tiger's Den, you can look over the shoulders of Tom O'Brien and the other TFNN hosts while they analyze charts during their live Tiger TV programs and join an interactive trading community with hundreds of members exchanging ideas. Interact with other Tigers and Tigresses as they share trading ideas, news analysis and discuss the market action all trading day, even at night and on the weekends. The Tiger's Den at Discord is accessible on mobile or tablets as well. So it's always at your reach. To sign up today and become a part of this educational community of traders, just visit the front page of TFNN.com. 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 Direction Investments.com. A fund's prospectus and 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. This program is brought to you by Vista Gold, traded on the NYSE American and TSX under the symbol VGZ. Of Peloton shares out there. You reach a high in January of 2021, man. Tough not to chuckle, just remarkable, 171, right? You ever think it's not too late to sell in equity folks? Look at that run that you had. From 88 bucks, this is a monthly, okay? Back in November of 2021, you close it out at 41. Yeah, this thing's at $4 and change yet again. They're out with their numbers, some tough numbers. Your tanking lower on the open as well at 477 right now. And we jump over mixed holiday results and dismal quarterly guidance. There's the headline for you, man. Nearly two years into that new CEO tenure. Two years, some progress, but still hasn't managed to return to growth. It's a tough one, man. We've seen this play out before. It's a piece of exercise equipment folks, okay? Somehow they were gonna change the world. And listen, I love biking. I look at it and they're pushing on some decent products. Maybe I'll rent one or something like that. So I have considered it, but I always said in the beginning, their original plan, you needed to pay like $2,000 for a stationary bike just for the ability to then subscribe to their service for like 30 or $50 a month. And that one didn't compute folks. I was paying for a gym membership at the time. I think $24 a month at LA Fitness that I didn't use as much as I should have. And I couldn't understand why somebody would pay $2,000 to sign up for a recurring fee on that aspect. And of course their business plan has changed dramatically since then. Nonetheless, they come in pretty much in line, but yeah, they have some problems, man, going forward. For its fiscal third quarter, the company expects sales 700 to 725. The market was looking for 754, adjusted EBITDA loss to between 20 and 30 million. Market was looking for basically flat, right? Analyst estimate of a loss of 2 million. And they're gonna lose $20 to $30 million. And basically that's all gonna be from revenue. They're losing what? 50 to 25 million of revenue they're gonna miss by and 20 to 30 million of that was gonna be on profits. Our outlook is tempered by uncertainty surrounding our ability to efficiently grow paid app subscribers and the performance of other new initiatives. This was what they were gonna do to save the company. Okay, that was their whole plan, which was a decent plan. You got people paying on an app on a subscription basis to use your product, that's where you get some growth. And that's not happening. And that's a big problem to put it lightly, man. Cause they're not gonna do it selling the equipment, folks. Okay, we've seen it before. The Bowflex, right? Which Chuck Norris pushing out there, yeah, Bowflex. Nordic, Nordic track, the Nordic track and Christie Brinkley, right? The Nordic track. Great products, huge sales, made people a lot of money. Not exactly a public company that drives forward to the tune evaluations that Peloton was ever even coming close to and we jump over. This thing's still dropping, yeah. 471, 476 down almost 15% as the markets in positive territory. You jump over and you're talking about a company that's still valued at $1.7 billion. I mean, they're selling $700 million a product but they're losing money. And this is what I talk about when I talk about the glory of a public company. They're losing money right now. What's that company worth? Nothing if they lose money. What's it worth in the market right now? $1.7 billion. So be careful to put that one lightly. As this market just drifts higher right now, S&P is coming up to the highs we had this morning. 48.93, we're positive by 22 points right now. Let's take a look at what's happening in yields. It's not stopping, man. Where are we at? What's our yield right now? What are we pushing? 3.888. Absolutely remarkable. Under 3.89 right now. 112.25, we're up by 15 ticks in the 10 year. Then we're getting a little bit of a roll over in the dollar. We're under 103.50 right now. You jump over to that. Gold contract, gold, 2066. I've been talking about it, man. Great time to try out the Gold Report. If you haven't yet folks, it's Thursday right now. You gain access to the archives right when you sign up. New issues on Monday usually for the Gold Report. My dad's weekly gold newsletter. And yeah, we got gold pushing relative all time highs outside of that one spike we got, right? 2,100 is kind of your price tag. Remember, we got to 2,152 on a Sunday night on futures. And by the time that market almost opened, I think we're back down here or something like that. You traded lower the whole session. So real trading, market trading, you're looking at about 2,100 and that gold contract was the highs. We jump over to Apple shares ahead of their numbers up by about 2,10%. We jump over to some of the other tech companies, Microsoft, man, catching a bounce after yesterday up by 2%, you jump over to Microsoft. 3.01, still above that 3 trillion mark. We're right at that price tag, basically. And yeah, Microsoft has quite a leg. I mean, this market might have one more leg, man. What's scary is, how does that play out? Is the Fed waiting too long? The Fed might be waiting too long, man. See, it feels like now's the time to go. It feels like the data's saying it's time to go, but they're afraid to believe it because it's been so wrong for so long, right? But remember what happened when they didn't cut, excuse me, when they did not hike, right? To back this up, okay? Yeah, here's your three, no, excuse me. Yes, here's your three-year weekly. They start cutting in March of 2022. Now, if you recall, and I just have to go to the chart in the crude contract, we had the escalation of the war between Russia and Ukraine, okay? Absolutely remarkable, that's two years ago. Two years ago? Remarkable, that's what's going on here, but that's the case, okay? Two years ago, man, time just flies. And if you recall, some had thought that they may have cut a little bit earlier had it not been for some of the geopolitical risks that were going on there, okay? So they waited because they were nervous if a war was breaking out and they were hiking if that would be too much for the market. So what did they do? They waited too long. That's the easiest call in hindsight, of course. And is that gonna happen again? Are they gonna wait too long? And I think they probably already have because they need that data the same way they needed it back then even though it was relatively obvious that inflation was warring as we were coming in to the beginning of 2022. They didn't hike until March of 2022. The numbers were clearly there. The word transitory was in vogue, if you recall, right? So what happens if they wait too long? Well, if they wait too long, they're gonna tighten the economy and it's gonna cause a recession. And it's usually happening when you're bringing down inflation to this degree it would be quite an anomaly to have the soft landing and now the Fed is even waiting a little bit longer. With a market sitting at about 4,900 in the S&Ps. All right, let's see what other stories we have pulled up here. We talked about Peloton. Yeah, you know what is interesting though? I saw this quote on social media the other day. How big a billion is? And sometimes our mind like you can't keep track of you can't understand the growth, right? You can't understand it. Understanding exponential growth is very difficult in our minds which is why you say, you know if you just play a dollar hand a blackjack and you double it every time you win you're only 32 hands away from like a billion dollars. Something bonkers like that, right? A million seconds is 11 days folks, okay? But a billion seconds is 31 years. 31 years is a billion. So what's 55 billion seconds? Yeah, it's a big number which is why that judge squashed it. We're talking more equities when we come back folks stay tuned, we'll be right back. The Gold Report. As a precious metal gold is still king. It continues to hold the most effective safe haven in hedging properties across the global major trading hubs of the London OTC market, the US futures market and the Shanghai Gold Exchange. The Gold Report. Tom O'Brien publishes his weekly Gold Report every Monday morning for subscribers consisting of coverage of the XAU, HUI, GDX, the Dollar, Bonds, the South African Rand as well as 25 different mining equities with specific buy-sell recommendations. The Gold Report. New subscribers get a 30 day money back guarantee so you have nothing to risk. Subscribe to Tom O'Brien's Gold Report newsletter now at TFNN.com. 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. 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. If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up. TFNN.com, educating investors. The reality is that navigating financial markets can be risky. Markets can be chaotic and difficult to understand. Having the latest market advice can help you turn this chaos into a key for creating winning trades. At TFNN, we understand that it can be hard to find reliable market news. That's why each of our market experts offers their very own market newsletter. A must have tool for every trader out there striving to find an edge in today's markets. TFNN newsletters cover every aspect of the markets so you can analyze the market before you trade. Try any of our great newsletters risk-free with our 30 day money back guarantee. Just visit the Newsletters tab on the front page of TFNN.com. TFNN, 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. Welcome back folks, you jump over to Qualcomm shares. Some decent numbers out of the gate last night but not so much the cases. They give it up pretty quickly and we're lower from there, off by 4.4% for Qualcomm shares. They take a look at a longer term chart and it's been quite a run, right? Their last earnings commended at about 104. You trade up to 157 even with the pullback today. You're at about 142. We back it up even a little bit further than that. Excuse me. And you're right back to where we were about a year ago. Almost exactly, man. The week of January 30th, you were at about 140. You're at 142 right now. Where's your next area? And maybe you're talking about 127 on this equity, right? That kind of correlates to almost where you were on July, March and November of last year as well. And that also is kind of the same area. It was an area of support back there in prior years and maybe it's an area of support. Yet again, as you break down 130 as you're at 142, off 4.3% in the headline out there. Qualcomm earnings beat estimates as smartphone chip sales suggest recovery. But guess what? Not the cases. They had more to say on their earnings comment. For the current quarter, a buck 73 to a buck 93 on revenue of 8.9 to 9.7 and they were looking for 225 folks. So there you go. That's a problem. Net income rising 24% during the quarter. But guess what? What have you done for me next quarter? And that's not gonna be the case. Okay, what else did we have pull up here? We made it through almost everything, man. Yeah. Some of the banks, right? Citizens out there calling New York Community Bank an outlier. What would you be calling a bank that was down 40% if you were the CEO of a bank as well? Right? Be careful of that verbiage, man. Okay, because they're gonna profess strength until they don't have the ability to profess anything else. And that's the way it works. All right, we finished it up with yields. Let's jump over to the tenure, man. You talk about quite a day. Remember, you know what we'll finish up with? Actually, I meant to get to was jobless claims. There it is. That's your headline. 224,000 last week. That's the highest number I think since something like 2021, right? 220, excuse me, 4,000. Not the highest since 2021. But nonetheless, an uptick. All right, folks, stay tuned. Remember, you got some big earnings after the bell. We got job numbers tomorrow at 8.30. And I'll see you at nine o'clock. Stay tuned for Basil, folks. Have a great Thursday.