The following is a presentation of TFNN, the morning market kickoff with your host Tommy O'Brien. Good Monday morning everybody I'm Tommy O'Brien coming to you live from TFNN 906 AM. Thanks for starting your day with me. We're going to check in on the markets to kick things off and we got some volatility already. Let's jump over the VIX to kick things off. You heard, if you heard the market update, we have a little bit of negative action. We've got a VIX spiking back to above 19 this morning, S&Ps happened to be up last night. I think it was like 1-1-30, I checked the markets, I said, man, the markets, they are relentless. We're charging higher in a big way just like we did to end last week. Not so quickly. You had Europe opening up and about 2 AM we make a high of 44.72, now over in Europe right now you're positive across the board. You got the Dax up 3 tenths percent, FTSE is basically flat to positive, Kakarol up 2 tenths percent. The markets in the U.S. though trade down about 1% on the S&P from the highs of 44.72. We're sitting right now 41 points below that price level at 44.31. Still if you compare the S&P, you are above where we opened that on Friday. I mentioned that because the NASDAQ 100, as I jump over, actually below that price level where we opened on Friday. NASDAQ 100 up to 15,399 just like that, we give up almost 250 points to the downside. We have some rising yields this morning. They're talking about the Dense and maybe finally the NASDAQ woke up to some rising yields. You get the NASDAQ down almost a full percent from where we closed out Friday's action at 15,172. We'll jump over to those yields in a moment. We're talking about almost 1.5% as I pulled up right now 1.499, can't get any closer than that. We'll call it 1.5% on the yield on the 10-year. The Dow, excuse me, positive but barely by about 21 points. Now you see where we are on the Dow, right? A decent, you're talking about decent, you're talking about 250 points above where we opened on Friday. Point being, you have the NASDAQ 100 actually below that level, seeing some divergences, some weakness in the tech stocks, some strength in the Dow. You get the Russell up three points again compared to Friday's action above that price level 2246. You had the Russell though, we were trading at a price point of 2263 overnight. Bitcoin catching a bid up about $1,200, Bitcoin had some severe volatility on Friday and last week really you put it up on the daily for Bitcoin. There's your first, well I say first, right? It's been a couple of dramatic sell-offs. A week ago, you really get an acceleration from $47,000 down to $40,000. We skip off that price level, Bitcoin trading $43,000 out of curiosity. Let's see what kind of a pullback we did get on this retracement when you traded from $30,000 to the recent highs of $53,193, right at that 50% price level is where we bounce at the beginning of last week. Back to short-term charts, we pull up crude, relentlessly higher in that crude market. Last Tuesday we're trading with a 69 handle, today we're trading with a 75 handle, 7535. You put it on a daily, I mean next stop is right at 76.98, this could be a critical area for crude here. You've just accelerated from a price point of $65 on August 23rd, so about in a month. A month in four days we'll call it, you're up $10 in the price of crude. That's a 15% move. No, what is that? $10, yeah, 15%, 16%, 17% move in just about a month and we're pushing those higher limits on crude. Interesting to see how crude's going to react with the highs up there. And yeah, it's got a 76 print, folks. But if you pick the tops of these bars, we're basically right there, right? You look forward, whether it's, now these are dailies, July 1st. We have the bodies, that's what I was looking for. The bodies of these candle spokes matching up right where we are right now, 7536, we'll see how crude reacts. We take a look at gold, gold right now positive by a dollar. You look at the 15 minute chart, we were low, it's a 1745 this morning, we're up to 1752. Silver right now up 21 cents at 2264 and there are your notes and bonds. Talk about a deceleration to lower prices. We'll put it on the daily, and man, this is a critical area, just like we were talking about in crude, 1.5%. Before when the market seemed very, very comfortable with the yield of 1.5%, that time period stretched from about the beginning of March, all the way, basically until the beginning of July. You're talking about four solid months where we were just sputtering along at about 1.5% or just under 1.5% for a yield, well, we're back above it as I speak, folks. You get the 10 year right now at 1.501%. You see the spike, we're trading to lower prices, we're down another almost 10 ticks at 1.3123, the 30 year is down 24 ticks right now at 1.6007 and we jump over to the VIX. As we wrap up the kind of the market take, we're trading at 1.908 right now in the volatility index. All right, as I mentioned, NASDAQ leading the way down right now, although other markets pretty muted, right? You get the S&P down 3.10%, but you get the Dow barely down 0.08, not even 1.10%, it's positive, excuse me, you get the Russell positive by barely a 10th. So the NASDAQ really taking a hit this morning below where we were on Friday. We take a look at the daily in the NASDAQ, take that off, put this up here. Quite the pullback we got, whether it was from September 7th, you hit a low last week, a week ago today, that was the sell-off. It's remarkable that that was a week ago, right, folks, when you think about where we were, all the markets were cascading down 1% to 2% to 3% almost. By the end of the week, we forgot it almost happened. Well, we might get a little bit of a reminder this morning with the NASDAQ opening up down almost a full percent. Let's jump around to some of the fang stocks this morning and see how they're trading. We got Amazon shares trading a little bit lower back to the short-term charts, trading down about $30, $35 at $33.83. We got Apple shares this morning. I mean, you're going to have all the tech stocks, not all, but predominantly trading lower when you got the NASDAQ 100 down a full percent. You have Apple trading down a buck 30, always remarkable when you look in the market capitalization swings of a company like Apple, 16.5 billion shares I think we're talking about just this morning. They've lost 20 billion with the B billion dollars of market capitalization staggering Microsoft shares right now down a couple of bucks as well. We jumped to Tesla shares, Tesla Elon making waves over in China up to the high of 777 overnight this morning. We're basically flat. You're down $3 on Tesla shares trading at 771. Let's jump around some of the airlines this morning. You got American trading higher. That's where we are getting some strength. You see the acceleration they have had recently. Look at this run, right? Just in, well, let's back it up a little bit to show it again. A nice area of support here when you look where we are. You bounce in July. You bounce again in August. You bounce again in September. And just like that though, we're approaching the highs that we had back in July as well, $21.39 though. We're up about 40 cents, excuse me, in the open on American. And now before we jump to the rest of them because it ties into the airlines, durable goods out this morning. Core capital goods as well. Core capital goods rising 0.5% after upwardly revised July print. This news out at about 8.30 AM this morning. Orders placed with U.S. manufacturers for business equipment strengthened in August extending to six months of solid run of robust capital investment that's helping fuel economic growth. That's how they put it. Now core capital good orders, which exclude aircraft and military hardware. Aircraft is going to be a big one on this one because of the rise in aircraft orders that we've seen. Seen as a barometer of business equipment investment. Increased 0.5% upwardly revised 0.3% a month earlier. Bookings for all durable goods. So this brings back in airplanes and military 1.8% from the prior month reflecting the pickup in orders of commercial aircraft. The median estimate they were looking for 0.4% in the core and 0.7% in total. So 0.4% barely off what they were looking for. 0.7% a little bit more off. And we're going to get into some of those aircraft numbers in terms of 53 orders going in August up from 31 a month earlier. We'll take a look at Boeing. We'll take a look at some of those airlines. Right back. Golden ratios give shape to everything in our world. Represented in the Fibonacci sequence. These special numbers define the patterns that make up our universe. Not even markets can escape the omnipotence of these ratios. Larry Pezzavento is a 45 year market veteran who has published nearly a dozen books on the powerful patterns we find in nature and their relationships with the ever elusive markets. Larry's newsletter Fibonacci 24-7 will teach you to harness the power of these natural golden ratios in order to create successful trades. Fibonacci 24-7 is designed to teach the tools you need to identify and act on these undeniable and reoccurring patterns. Sign up for Larry's newsletter Fibonacci 24-7 and you will also receive free access to his trading webinar trading strong trending markets. Try out Larry's newsletter risk free. All of TFNN's newsletters come with a 30 day money back guarantee. TFNN educating investors. 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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 tech either. TFNN airs live financial content streamed live on TFNN.com and TFNN's YouTube channel with Tiger TV, live every market day from 8.30am to 4pm Eastern for free. Each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world. From the moment the market opens until the closing bell sounds, Tiger TV has eight different shows with expert hosts to help you make the right moves with your money. Watch online at TFNN.com or on TFNN's YouTube channel and become the investor you were born to be, TFNN. Educating investors. Welcome back folks. We have the S&P's negative 13 points right now. We've got about 12 minutes to go until the opening bell, jumping back to the airlines and the aircraft manufacturers. Boeing, take a look at Boeing. Boeing up about $2, $2.50 this morning catching a little bit of a bid. We've got the Dow and positive territory being helped by some of this action. You take a look at the 15 minute, you see the acceleration higher. Now I'm going to put this on a three-year weekly for Boeing. All right, we dived to a low during COVID of $89.  You rise to a level of 234 by June of last year. So you're talking about if you were a buyer on that acceleration folks, 15 months later, when the market has accelerated greatly, you are actually negative. 15 months later, you are still negative in the price of Boeing, let alone we were just trading at a price point of $278 back in March of this year. You're trading at $221. I point it out because we just dipped below the trend channel line. Recently over the last few weeks, this is a weekly bar. We're climbing back up to that level. This goes right from the lows, from the low we've made back in November before the market accelerated higher, an ode to our man, Bud Robs, the channel master. What you would like to see here, folks, is that potentially you get above the channel line, you come back, you test it, and then you bounce. And that's where maybe you look for a bid in Boeing. You can always set your stop below that channel line and getting out. But nonetheless, we're seeing all of them trade a little bit higher. You look at American, back to a daily this is. Now American Airlines, we're trading up to $21.74 this morning. You see the acceleration we've had recently. Now American, if you go back to the run we had from November, all right, you accelerate higher with the markets. You pull back to a 50%, Delta and United made it all the way back to a 618. Delta, there's your 618 before it's accelerated higher. You're pushing almost $44 this morning on Delta. Okay. And what did I say, United? Yes, United. There's your 618 as well. This morning, you're trading above $49 for United shares. So all of them catching a little bit of a pop. The cruise ships as well last week accelerating higher and continuing that trend this morning. They released some information in terms of 2022 bookings looking pretty good compared to pre-pandemic levels in terms of where they'll be at. You might have to wait for that one, but the market really like an idea. Percentage wise, you look where we are folks. Just last week, a week of go, a week ago, excuse me. You were trading at $23.14. You're up more than 10%. What are we, we're almost pushing, excuse me. The lowest, 22.62 and we're gonna almost open at 26 today. So you're talking about 13, 14% pop in this market above any of this consolidation we had for the better part of July and August. And you get back into some of the economic numbers shaping that. Bookings for commercial aircraft increased 78%. Now that is the 53 orders in August up from 31 a month earlier. Aren't always directly comparable on a month to month basis in terms of the governmental data there. Outside of this big aircraft increase, which is gonna hit durable goods, it's not gonna hit the core number. Outside of that, bookings were mixed, all right? It came in at 0.5% the core number. They were looking for 0.4. Orders rose for communications equipment, electrical hardware, and fabricated metals. They declined for motor vehicles, computers, and machinery. Unfilled orders for manufactured durable goods and inventories, both rose illustrating lingering bottlenecks and long lead times faced by manufacturers. I'm gonna use that opportunity to jump to this article. Delta supply chain pain lingers on Bloomberg trade ticker. So Bloomberg's got a ticker up here now. We're dealing with so many supply chain problems. They got 10 trackers, 10 tracking gauges would be the way to put it. All 10 of them were normal heading into the final week of September, which sounds great, right? But two months earlier, you wanna have them above normal, folks, when you're coming into this, all right? So they're talking about, this is the latest dollar available for shipping, sentiment, and export volume indicators. Red is below normal. Green is above. Port of LA, they were above, right? You see. And then you go to the last two months, July and August. Decreasing numbers, pulling the number below. You look whether it's Singapore, Hong Kong, the Baltic dry index. Then you get into sentiment, German expectations, US new exports. I mean, you see the trend here, folks, all right? Taiwan exports, a big one there, right? Korea, a big one. All of these dropping from surpluses to barely positive to potentially shifting to negative. You get into prices, US imports, higher levels, right? Electronics from China rising in a big way. Europe producers rising. Commodities, CRB metals rising. Something to keep your eye on, folks, is those trends seem to persist in a big way. As we charge forward there. All right, what else we got going on? I'm going to jump to an important one, just in my opinion. Facebook, folks. I always say Facebook is not healthy for you. Anything in moderation can be enjoyed, I guess would be one way to put it. Facebook shares quite an acceleration on Friday. You're down about three bucks this morning. This story, just an opportunity to kind of focus on it. Talking about the, it's pausing the effort to build Instagram for kids. Thank goodness, folks. Keep your kids off social media as long as you can. Social media, great to pay attention to pictures of relatives and stuff like that. But the stuff coming out recently about Facebook, it should be a reckoning moment. I mean, the internal studies they have pointing to whether it's teenage girls, that it just crushes them personally in terms of comparing themselves to an unattainable normal that is out there on social media. Now they're going to try and do it for kids while even Facebook is realizing that it might not be the best time for them on the PR battle, probably to push out a product that they even themselves have talked about is not beneficial for young people in terms of what Instagram has done to young women out there, let alone the other problems social media has brought about. You know, I saw a great interview this weekend. It was on Bill Maher's show. I kicked it off. I'll get the guy's name. And he was just talking about, in particular, what Facebook did, right, is that they took out one of the biggest important elements of communication, which is being able to see somebody and being able to read their reaction and read their feelings of how you react to them. And I know I'm separating from the market, but it's important when you have companies like this taken over the world and now they're talking about maybe they're going to push products out to children as young as they can, of course they are. And I thought it was a great point that they basically said, you know, people, they love to argue on Facebook. We all know that, right? The political discourse on there is bananas for lack of a better term.  And Facebook has completely sucked that element out of things where you can just go ballistic for lack of a better term again online without having to feel the effects of that harshness and the rhetoric and everything that goes along with it. I mean, the other factor I always throw out there is that people on Facebook love to complain, folks. It's like a cork board for complaining. Nobody goes on Facebook and people do and kudos to them.  Today's a great day. Just kicked my day off with some coffee, another beautiful day staring at some sunlight. Some people do, folks. Most people don't. They go on there to gripe to complain. It builds an atmosphere where that becomes normal. It's festering in terms of people's minds. Keep that in mind. I got young kids in the house. I'm trying to do my best to keep them away from that stuff as best I can. I'm very fortunate myself that I grew up in an age where I didn't have to deal with social media, especially going through high school or something like that. My goodness, high school was tough enough, let alone having the pressures that come with social media and following and your public persona that you put out there. So be aware of that. We got to fight back against this stuff. And thankfully, they're pausing that. But Facebook, man, Instagram for children. No, thank you in a big way. So even Facebook probably realized that was a no-no. They're down about $2.50 with the market this morning. All the tech stocks trading lower though. Not sure that's really an impact on anything having to do with that story. But stay tuned, folks. We'll be coming back. We'll be back in three minutes to the market open. We'll go over what other equities we got moving to start Monday action. You get a lot of fed speak with Chairman Powell as well. Tuesday, Wednesday, Thursday. Talk about that. I'll be right back. Are you having fun trading the markets but having trouble finding like-minded individuals to discuss your trading and investment ideas with? Become an Apex creditor in the trading markets and join the Tiger's Den trading room only at TFNN.com. The Tiger's Den is an exclusive trading room where successful traders from around the world come to exchange trades and ideas. Join the den and surround yourself with the sharpest minds in the trading world. 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And right now, we're offering licenses available at only $79 a month. We are so confident that you're going to love this new charting software that will even give you a 30-day unconditional money-back guarantee. 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. Welcome back, folks. 9.30 a.m. Monday morning. We've got markets open. We'll get the S&Ps negative by 10 points. NASDAQ 100 negative by 119. All the markets catching a little bit of a bid here right out of the gate. We've been open for about 30 seconds. You get the dial, though, catching a bid. We're up 65 points right now. You get the S&Ps negative by just 8. You see that we were at a price point, whether it was about 8.30 this morning. These are five-minute bars. You were at a low of 44.27. We're trading at 44.34. We have Bitcoin up $1,385 just near 44,000. We're crude, continuing to see some strength there at 75.44. And we'll jump to gold up $1 this morning and then finish it off with notes and bonds. Catching a bid after kind of accelerating lower, and I say catching a bid, right? We're negative 6 to 7 ticks right now. But things looked a little bit dire on that durable goods order coming down to about 131.19. Right now we're at 131.26. You see kind of bumping up against that upper boundary line for the pre-market session. All right, as I mentioned, we got a lot of Fed speak from Chairman Powell this week. As he is going to be in front of Congress on Tuesday and Thursday, he'll be in front of the Senate on Tuesday. He'll be in front of the House on Thursday. And he's also going to appear on a European Central Bank panel with other central bank leaders on Wednesday, Tuesday, Wednesday, Thursday. We get Chairman Powell action on all three days. We'll see if that changes anything. Not really sure he had the opportunity if he wanted to change anything in terms of the discourse. Last week did not see that happen. And I don't imagine so this week. The other thing hanging out there this morning is you have Boston Fed President Rosengren. So he is announced he's going to retire September 30th, nine months earlier than planned. He was sent to retire in June of 2022. This announcement due to health concerns is how he puts it in his release there. Hopefully he gets the health update in terms of just getting healthy, no matter what. He has been on a kidney transplant list since June of 2020. He's out there saying that doctors told him a change in his lifestyle might reduce the need for dialysis. You have to mention in this story though, that I send him his best. I hope he gets healthy, folks. Even if he was inside of training, we don't agree with it. The timing, a little bit convenient to say the least in terms of stepping down after all the controversy with the insider trading. Chairman Powell talking about it last week. Probably confluence of events in terms of all of that, leading to him step down nonetheless. Hopefully he gets healthy. But either way, he was going to be a voting member next year. He has been the Fed President there for 14 years, I believe is the number in terms of how he's been there. Let me see if I pull it up in terms of when it was. I think it was 2007. I had one story that he was out there as the Fed President in Boston. Yes, there it is. Been at the Boston Fed since 1985. He's been the President since July of 2007. He would have been a voting member next year. He steps down nine months early ahead of June of 2022. So that will be in the press as they look to fill that role and filling that role will fill it with a voting member at a time when the Fed is in focus. Let's just say in terms of everything going on in this. Okay, jumping around to what else we got going on. Talked about Chairman Powell. Yeah, talked about that. Let's jump down the line to some of the stocks making moves this morning. Google, so it looks like all these big tech stocks trying to get ahead of regulatory concerns. They're going to cut commissions. It collects on third-party software sales in its cloud marketplace, according to someone with information on the matter. Google is now going to collect just 3% of sales compared to the prior 20%. It's quite a number. All these tech stocks trying to get ahead of the curve, I imagine. Google's down about 4.10% with the tech stocks this morning. Got the NASDAQ 100 accelerating. We're down 162. Look at that drop right out of the gate. 15,156. You give up 250 points from that high we had overnight of 15,399. Jumping over the queues real quick. Whoops, one more queue there. Three of them, please. Thank you. Trading at 369.49. You are below the action we had pre-market Monday. You put this thing on a daily in terms of the volatility we had here. I had it up in my chart. 64 million shares done when you back it up to July 19th. That's at a price point. The high of that bar is 355. You had another acceleration that began with 48 million shares on August 19th. You traded lower with 76 million shares into that low of last Monday, September 20th. You then popped to a high above 374 queues with some volatility in a big way. You take a look in terms of the bounce we got here. Just sort of a Fibonacci perspective. Not quite up to the 618, but almost there. You got to a high of 374.04. 374.43 would have been a 618 bounce of the full acceleration from 382 to 360. Pretty remarkable the queues. Traded down 22 points in a period of about a couple of weeks. But man, we got 12 points just from the action of last Monday alone before we basically got it all back. And yeah, we're seeing some sell-off in these tech stocks. Let's jump to notes and bonds. Because that was driving some of the action this morning. Interesting when you look at where we are, right? This is a critical area for the notes and bonds. You could see a bid here. We're at about 1.5% the yield on the 10-year. Maybe that's an area the market's a little bit more comfortable with. We're going to find out, folks. But nonetheless, we're pushing 1.5% with the 10-year down about 8 ticks this morning. Jumping down the line as well, we got Tesla. They're rolling out software updates that allow customers to request access to its full self-driving beta software. It's going to be granted to drivers who get a sufficiently high safety score. Interesting, right? They're going to start literally grading the safety scores of the drivers that buy their cars and releasing certain software pieces to certain drivers. The implications of that are pretty staggering when you think about it, folks. Now, let's just see. I didn't even... Yeah, and this story was out over the weekend. Long-awaited software update Friday allows customers to request access to its controversial full self-driving beta program. Drivers who get a high safety score from Tesla will get access. Interesting that you're going to have cars that are going to be sold, and access to features is going to be prioritized to people depending on their driving habits. I can't think of a time that that's ever happened. But nonetheless, that's how they're doing it. The beta is an unfinished version of Tesla's premium driver assistance. It sells it for $10,000 upfront or $199 a month. That's an or situation.  But yeah, interesting in terms of how they roll that out in terms of if that is the business model, in terms of releasing safe features of a car that they might not trust in the hands of everybody because it's in beta, so they only give it to the safest drivers. I don't know how that plays out. I think maybe the NTSB, National Traffic Safety Board, is going to be looking into that one because I imagine that has some suspect implications going forward if you're just trying to release to updates to people because you can't release it to everybody because it might be too dangerous. Right? Think about that. That's kind of what they're saying. As we get a little bit of a sell-off continuing in the tech stocks, we're getting some divergence here. Look at this sell-off in tech stocks. All right? As we're dropping out of bed down 1.3% and at the same time, you get the Dow popping right now up 3.10% Russell, up 6.10% pushing the highs we had last week of 2263. Let's jump around to some of those. There you go. Yeah, Boeing up 2.4% today. Big numbers in terms of durable goods, accelerating aircrafts, commercial aircrafts, pushing that number up 1.8%. We jumped to Delta Airlines up 1.8% as well. United this morning, excuse me, UAL, yeah, up 1.5% so far. Oops, American Airlines so far up 1.9%. All the airlines. This might be a little bit of a shift in terms of tech stocks going down. We got a rotation. You get some of the travel stocks. Check out Airbnb. A little bit of a different story. You could price them in terms of a growth company getting weighed down on with higher yields, down 1.7% and the cruise ships higher as well. Carnival up another 4%. Stay tuned, folks. We'll be right back after the break. Are you in the market for buying or selling real estate in the Bay Area, including the surrounding St. Petersburg, Tampa and Clearwater markets? Tiger Real Estate LLC is a firm that has extensive experience in the Tampa Bay Area. Whether you're looking to sell your current property for maximum value or you're in the market for a second home or investment property, Tiger Realty has the experience across all areas of real estate in the Tampa Bay Area to help buyers and sellers make the most informed decisions across all price levels. 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And not a bad price tag. I didn't realize that these were, this is the richest deal for a patch. Okay, so the Nets are gonna wear a patch on their jerseys. $30 million a year. This is a multi-year deal. That doesn't seem like a lot of money to have a patch on an NBA team that gets a lot of attention. Like the Nets and $30 million a year. The prior largest deal for a patch had been the Golden State Warriors, which had another Japan, excuse me, not Chinese, Japan-based e-commerce company, Rakuten. But this one is coming from Webull, online trading platform headquartered in New York and owned by Chinese holding company. Fumi Technology competes, like they say, with Robinhood commission-free offerings valued at a billion dollars, billion dollars, not bad spending $30 million. That's just a lot of eyeballs, it seems like, for $30 million per year that they're gonna get patches on each of their uniforms, but nonetheless, that's the market there. And they're gonna replace Motorola, which had a one-year jersey patch deal with the Nets for the 2021 season. And the team, as they put it, used that deal to make up for money lost due to the pandemic, which cost teams about 40% of revenue due to the fan restrictions, called the agreement transformative. Adding the two companies have matching consumer basis. And then you see an example of the patches that they'll be wearing when you think about the amount of eyeballs, right, that are on that. I'm not talking about in person, I'm talking about on TV. I'm talking about when they show those uniforms on sports center, on highlights, et cetera. I feel like the NBA has an opportunity there to be charging, as they probably are, when you just went from 20 million for the Golden State Warriors to 30 million for the Nets, so you have a 50% rise in the highest total there. Seems like that number's probably gonna rise when you think about the amount of eyeballs you get by having a patch on an NBA team for an entire season in a big way. All right, what else we got? Let's jump to fake meat. Beyond meat, they're gonna launch meatless chicken tenders in grocery stores next month. Not sure how that's gonna transition, folks. Beyond meat, you get a pop on the pre-market, I should say. Give it up. You're up 7-tenths percent. You take a look at this thing on a longer-term chart, right? Be careful, folks, of this chart here. Excuse me. You take a look at where we are beyond. I want the Analyze tab. I want to slide down to the Fundamentals. We're talking about a company valued right now at about $7 billion, okay? So they're losing money. They're valued at $7 billion. A couple times, they've gotten way above where we're at. We're only about 10 bucks above the lows that we were at back in May. And the adoption of this technology to push it back even further to get the real run. And I remember being on the show with my dad back in July 2019. And you're talking about we were up there. And I remember sharing the market capitalization at that time of a company like Beyond when it was pushing 240. So right now, you're valued at $7 billion. So what's that? That would push it up to like a $60 billion valuation, probably at $239. Compare that to a company like Tyson, which has the ability in terms of the process to deliver, right? The distribution network is the term I was looking for. Point being, they got a long way to go, folks. I believe in plant-based diets to a certain degree. I love chicken. White meat's great for you. Red meat, probably in a little bit less frequency is good for you as well. Very moderate on the red meat side of things. But I just don't see myself locking from a fake meat chicken. And I don't see it happen into the $2 to $7 billion. They're trying to burst up some income there in terms of some new venues to push out their product. But you see the trouble they've had in terms of just the last year. And I imagine that trouble is not going to go away as not quite what they were probably hoping in terms of adoption economy-wide, et cetera. But yeah, so they're going to push it out. Some of the numbers they're talking about here, they rolled out a chicken alternative in restaurants across Canada and the U.S. In July, the latest quarter, grocery sales accounted for roughly three quarters of beyond-unit U.S. revenue. So groceries are the big area. Now, I have tried the beyond meat in the grocery store. I'm super open to the idea of less meat in my diet, folks. I don't think I could go completely vegan forever. I did go vegan for a period of about six weeks, about a year or two ago. And the difference between vegan and vegetarian is monumental. I discovered that in my question. It's good. It's good from time to time, folks. I ate way too much meat. I like eating low-carb, high-protein diets. I mean, Nico Dahon, he would agree with that one. But low-carb, high-fat diets, but I had eaten too much meat. I wanted to give my body a break. It's good to do that type of stuff, right? If you're a hardcore vegan, it might be good to mix in maybe some fish occasionally or something like that to get some of that protein, some of those nutrients. Point being, I went fully vegan. That means no milk, no butter, no cheese. Vegetarian many times, and I don't want to say it's easy, but it is easy, especially dining out because there's lots of alternatives. And it's not necessarily always healthy, folks. That's the one thing that I went six or seven weeks. We're diverging from the market, but you've got to be healthy, folks. If you're going to be in the market, so your brain can be firing on all cylinders. And I say that seriously. If you're healthy, you're thinking more clearly. And when I went vegan, there were so many times I would go to restaurants and they didn't even have options. They didn't even have options because almost every single meal on there had some form of butter, milk, or cheese. Not meat, butter, milk, or cheese, which is in just about everything. I'm talking about some nice restaurants and servers had no idea if they even could find anything on their menu that was vegan. First of all, they're not doing their job because there's plenty of people who are vegan out there. You should at least know your own menu if that's your profession. But nonetheless, it was too difficult to stay because vegan, folks, you can eat chips and guac.  You can eat pasta. Just don't put any cheese on there, right? But you can eat pasta with all sorts of toppings on there that make it unhealthy with calories. Sugar is technically vegan when you put it out. So I just couldn't find enough things in the diet to keep myself healthy over a period of six weeks and being vegan. Point being, I was very open to the idea of reducing meat and they can't get me, folks. They can't get me at all beyond meat. It's just not happening. So somebody that is that open, right? I'm almost like a perfect customer for them. And this is totally anecdotal. It's my experience, but it's my show. So why not? They can't get me. And I feel like I'm a perfect customer, right? Now, I'm not vegan. I'm not vegetarian. That might be the perfect customer, but maybe it's not. Because I imagine some vegetarians don't really care about eating chicken and they don't need an imitation. The reason they're doing it is because they don't like eating meat. So they don't want to pretend meat. Nonetheless, beyond today, up about a percent on that news, they'll be trying to roll out chicken anytime soon. All right, folks. NASDAQ 100 down 200 plus points to kickoff trading. We got the VIX this morning at 1893. The VIX predicated off the S&P. Remember, we'll be right back to finish up the show, folks. 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 4.00 p.m. Eastern for free. Each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world. From the moment the market opens until the closing bell sounds, Tiger TV has eight different shows with expert hosts to help you make the right moves with your money. 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The best rate on a five-year CD in the country right now according to bankrate.com is paying 1% per year or $1,000 per a $100,000 invested. The Tiger First Mortgage Program pays 7% per year, paid monthly, on secured, high-value billable properties in St. Petersburg, Florida. The investment is for four years, paying 7% per year or $7,000 per a $100,000 invested. Your investment is secured by high-value real estate in St. Petersburg, Florida. Your investment can be anywhere from $100,000 to $500,000. Do you want to make $1,000 per year or $100,000 invested or $7,000 per year on a secured Tiger First Mortgage? The Tiger First Mortgage Program may be just the program for you. The Tiger First Mortgage Program pays 7% per year, paid monthly. For more information, you can call 877-518-910-710. That's<PHONE_NUMBER>. This segment is brought to you by Think or Swim. For more information, just click the Think or Swim banner on the front page of tfnn.com. Welcome back, folks. Right now, we have the VIX trading in 1887. As I said, predicated off the S&P. So the S&P, pretty much where we opened the session at about 4433. NASDAQ, the one really dropping out of bed, we lose about 100 points just in the last 25 minutes since we opened. Got the Dow accelerating higher up 213 points. Let's check in. Boeing putting a bid up 3% this morning at 227.81. We got the airline trading higher. As I mentioned, we've got the cruise ships. Look at that charging higher up 5.8% for Carnival right now. Let's check out Norwegian as well, up 3.7%. Crude continuing higher. We just made a session high at 75.71. We got, there's our natural gas contract with volatility yet again. They were chatting about the natural gas contract in the Tigers this morning, folks. We got a trading up to 5.45 right now. Up another 6%. You put this thing on a daily. You had quite a little pullback there, but we're seeing another resurgence. And let's just see. I mean, where you start this trend, maybe we'll start it right there. See what kind of Fibonacci retracement we did get back. About a 50%. In the full run we had, you touch about 4.80. And then we're off to the races again on natural gas right near the highs we had recently. And we jumped to gold. A little bit of a bid this morning for gold. And we'll finish it off with notes and bonds, catching a little bit of a bid potentially. I mean, you're up a solid eight ticks from where we were at 8.30 this morning. We're back under 1.5%. We're sitting at 1.48% this morning on the tenure. Over in Europe right now, markets in the green, but barely. You get the DAX up about a 10th of a percent. FTSE is flat to in the green. Catcruel up 3.10% as well. And we're going to finish it up with a story of Vegas, the Blackstone. They're going to sell the Cosmopolitan in Vegas for $5.65 billion. The deal is going to separate the property from the operations of the hotel. They're going to sell that casino and hotel on the strip for $5.65 billion, open in 2010. They had some trouble during the Great Recession. Owner, Deutsche Bank built the property for 3.9 buildings sold at the Blackstone in 2014 for $1.73 billion. And they spent $500 million. And now they're going to get back more than $5 for a total profit of $4.1 billion, including cash flow from the operations at the property. Quite a staggering number, not surprising Blackstone locking in those profits in a big way. Thanks for tuning in, folks. Start your Monday with me. Stay tuned. Basil's up next. Fast Market at 11. Larry at 12. Steve Rhodes, Dave White, Tom O'Brien. Live at 3 o'clock today. Have a great Monday, everybody. Stay tuned.


Teen Thieves caught red-handed, Chamber of Commerce members weigh in on 2020 prospects, charges filed in road rage stabbing. These and other local stories are coming up on this edition of Community News Review. This is Community News Review, a service WSDS-TV news content provided by WHBL. I'm Maddie Fister and this is Community News Review for Tuesday, February 4th, 2020. Two teens were arrested over the weekend after being caught red-handed, breaking into garages and vehicles in Sheboygan. Police say a Sheboygan resident reported the juveniles trying to get into their garage and that they had been scared off. Officers found the juveniles and learned they had entered several vehicles and garages and they had stolen items on them when they were arrested. Police are reminding people again to make sure that their vehicles are locked and that nothing valuable is being left in your car at night and that installing motion-activated lights would also help deter would-be thieves. Members of the Sheboygan County Chamber of Commerce have weighed in on economic expectations and plans for 2020. Because of the 2020 Business Outlook Survey, we're released during January 23rd meeting and published by the Sheboygan Economic Development Corporation this morning. The survey shows that 52 percent of the Sheboygan County businesses expect to expand employee numbers during 2020, down from 59 percent last year. Business management, manufacturing, transportation, and finance IT compromise or comprise the top three hiring categories. A major majority of the respondents expect some wage growth this year, mostly between one and five percent, and talent recruitment, competition, and talent development were cited as top three challenges facing local firms. 80 percent said that they recommend moving to Sheboygan County to a friend. A 37-year-old two-rivers man will spend the next 15 years behind bars, followed by 10 years of supervised release. Clint Blaha was found guilty of possessing with the intent to distribute over 50 grams of actual methamphetamine. Blaha was monitored for interstate wire transfers, and his travel surveyed by the Manitowoc County MEG unit in May of last year. And in July, Blaha was arrested in traffic stop that yielded over 77 grams of meth. A search of his residence revealed another one and a quarter pounds of crystal meth packaged for distribution. In pronouncing sentence, Senior District Judge William Greisbach noted the serious nature of Blaha's offense and the need to send a strong message of deterrence to anyone who might attempt distributing drugs in northeast Wisconsin. High school students from Sheboygan, Fond du Lac, Ozaki, and Washington counties will converge on the UW-Green Bay-Sheboygan campus March 14th through the 17th for the first annual community youth voice conference. The goal of the event is to give young people a chance to be heard on current issues, and for adults that can do something to listen, facilitators will help those attending to develop presentations to be shared with others such as the county clerk, Safe Harbor, and partners from Inspire, Sheboygan, and Washington counties and the Sheboygan Aging and Disability Resource Center. Those attending will have to come up with $200, but that will include lodging at Blue Harbor, transportation, meals, and all activities. Those interested can visit Sheboygan Extension Wisconsin for more information and to register. Young residents are being encouraged to help shape the city by participating in the City of Sheboygan's annual community survey. The brief online survey, which should take under 10 minutes to complete, will be used by the city staff and officials as they address quality of life issues and the services the city provides. The survey will be available online until February 23, and as an incentive, the chance to win $100 in Sheboygan County Chamber cash is being offered for completing the form. And finally, an Iowa man faces charges for allegedly stabbing and killing a man during a road rage incident. Bradley Trinweth, 42 of McGowanego, died at Wapaka's Theta Care Hospital after being stabbed in the neck during a fight. According to a criminal complaint, Tyler Knudson, 23 of Iowa, has been charged with first degree intentional homicide in the death. Prosecutors say the fight followed a road rage incident near downtown Iowa. Both Knudson and Trinweth were passengers in the vehicles involved, and those vehicles pulled into a nearby driveway where the fight ensued. Knudson is alleged to have pulled out a pocket knife and stabbed Trinweth. Knudson and his family argue he was acting in self-defense, and Knudson is being held on a $500,000 cash bond. He is due back in court next Tuesday. And that is our report for today. Join me again on Thursday for more local news and information on Community News Review.


So, on Ethereum there is a limit on the contract size that we can talk about. What will be covered in this talk? This is the DreamFlow overview. I will talk about the rationale behind the limit while this was put in place. Then I will be talking about a few alternative proposals for overcoming the problem by eliminating the need of a limit. Then I will be giving some tips for optimizing and reducing the size of your smart contract. And finally, I will be talking about libraries and proxies that you can use to basically deploy contracts of infinite size. So, is there a limit? Yes, there is. EIP 170 introduced a limit of 24 kilobytes on smart port size. You can't deploy a contract greater than 24 kilobytes on Ethereum. Even though it only costs about 6 million gas to deploy a port size of 24 kilobytes, you can't go any higher. The block gas limit is now about 10 million, but you can't deploy any bigger contracts. Why was the limit put in place? So, whenever someone calls a contract, the node has to load the contract source code from the disk. And it's obvious that it costs more resources to load a bigger contract than a smaller one. But the cost of loading a contract is fixed in Ethereum right now. The cost of calling a contract using call, delegate call, static call, etc is fixed. So, it became a DDoS vector where someone will be able to deploy large contracts while still paying lower amount of gas. So, it was decided to just do the basic fix of limiting the smart contracts. It was a very nice fix, but it worked. And one thing to note is that even if something goes out of gas in Ethereum, we have to generate a proof of that, that it was executed and it was going out of gas. In case of this scenario, if a smart contract code is greater than 24 kilobytes, like if there wasn't any limit, so it will still be fetched from the disk, but then we might run out of gas and we have to generate an out of gas proof. But for generating the proof, you still need to load the whole contract. So, even if you don't have enough gas, you always need to generate load the whole contract from the disk. So, it costs a bit more gas. And then back when this limit was created about two, three years back, the apps on Ethereum weren't that complex. We mainly had issues and all and they didn't really care about this limit. They never reached it 24 kilobytes code size limit. But nowadays, we have a lot of many more complex apps, for example, Macadal systems, then Polymath ecosystem. So, these are a lot complex and require bigger contracts. So, it's finally time that we explore other solutions that can overcome the problem by still allowing us to deploy larger contracts. So, one of the solution is pagination. So, in pagination, we divide the contract into chunks of 24 kilobytes and we load the chunk whichever is needed. So, whenever you will call a smart contract, the first chunk will always be loaded and that chunk will then load further chunks depending on the name. So, any additional chunk that will be loaded will cost additional gas. So, it's not a dealer's vector anymore. But the problem with this solution is that we'll first of all have to change how the smart contract code is stored in the account tree. So, right now, we directly store the contract code linked to the contract array. But then we'll have to store it in something like an array of contract codes of different chunks. So, it will require decent changes in the protocol itself. And the other big problem with this is that it will require huge changes in the programming languages like Solidarity and Piper. Because when you introduce chunks, then you have to write your codes such that you load minimal chunks when calling a function. So, if I'm doing a transfer in an ERC-20 token, I don't want to load 10 different chunks to take out code from different pieces. I want the whole function to execute in a single chunk. So, we'll have to write codes accordingly and high-level languages will have to adapt. So, it's very hard to implement but it's a very good solution. Now, the other solution is basically buffing libraries and proxies. This solution I like very much and I'd say that they should have been implemented a lot like quite a time before. And even if other solutions are not implemented, they should be implemented. And it can also be conjugated with other solutions to give us other advantages. So, what it says is basically that we divide the call cost into two different costs. One is fetch cost and one is execution cost. So, right now for loading the smart contract and executing it, there's a single call and it costs the same amount. So, if you do a patch transfer and you call the token contract multiple times, you will be charged the whole amount multiple times. So, but the node will actually have to do less work because it only loads the contract once and then it just executes it. So, this proposal proposed that you pay differently for loading the smart contract from the hard disk and for executing the smart contract. So, if this is implemented, then that transfers will become cheaper because you'll only have to pay for loading the smart contract once and then you'll have to pay only for the execution cost. It will also make delegate proxies and libraries easier. So, right now if you call a public function of a library, it will load the whole library contract and you'll have to pay cash for it. So, if you're using like 10 functions, 10 library functions in your smart contract and then you load 10 of them, you'll have to pay the loading cost for the library 10 times. But actually, the library is loaded only once. And if this is implemented, then you'll have to only pay the loading cost only once that will make libraries more viable. Right now, if you use libraries, the gas cost will increase by about 20%. So, it's not really that useful. But after implementing this change, that difference will reduce. So, I hope people will actually start using libraries and delegate proxies. So, there's one slight disadvantage to this. Now, this proposes the use of more smart contracts, bigger size smart contracts. And I'd say that's the good case for Ethereum. But it comes with the disadvantage that light clients will have to do more work. It's not a problem for full nodes because they already have all the code within their database. But light clients have to fetch all the smart contract code from other clients every time they have to execute. So, imagine I'm now using 10 different smart contracts in my call. The light client will have to fetch 10 different smart contracts from the nodes. So, it's more work for them. But that's what Ethereum is. Now, the other simple solution is basically just charging more gas for more work. So, this says that if your smart contract is greater than 24 kilobytes, then you'll have to pay more gas for all the actions that you do. If you do a call, you'll have to pay more gas. If you do a delegate call, you'll have to pay more gas. But how it works is that the first 24 kilobytes will be free.  The gas that you are paying right now will remain as it is. So, it's completely backward compatible. But it will allow deploying of larger size smart contracts. So, if you deploy a smart contract, let's say that is 30 kilobytes in size, then you'll have to pay the 24 kilobytes big size plus an additional cost for the additional 6 kilobytes that you used. And this feels a bit natural and how it should be like you pay for what you get. So, this also comes with the same advantage that the last solution came that it's more work for the like clients. If there will be more contracts, more code, more data will have to be transferred over the network and more work for the like clients. But that's what Ethereum is. So, these were alternative proposals, but what can you do now? Delimitize in place and let's say you have to create a bigger contract. What can you do? First of all, you can optimize your code to reduce the size. I'll be talking about some things. So, one thing to note is that EVM only works in 256 bits. So, even if you create an 8-bit variable, let's say Uint8, and then you add it with another Uint8 variable, the solidity compiler will convert that Uint8 to Uint256 in the backgrounds and then add them as Uint256 and then convert them back to Uint8. So, it might be obvious that it uses more contract code and it also uses more gas when you're doing it in the runtime. So, if you don't need the smaller variables, then you can just always use the bigger variables. Now, the main reason that you want to use smaller variables rather than bigger variables is that smaller variables can be packed together. So, as I mentioned, everything is 256 bits, so every storage slot is 256 bits. And for every storage slot, you have to pay 20,000 gas. If you create 256 variables, then let's say you create 32 256 bit variables, then you'll have to pay 32 into 20,000 gas for that data storage. But if you create smaller variable, let's say you create Uint64, then 4 Uint64 can be packed in 1 Uint256. 64 plus 64 plus 64 plus 64 plus 64, 256. So, for 4 Uint64 variables, you only have to pay storage cost for one slot. So, you only have to pay 20,000 gas. So, this is where you save gas. And if you can pack your variables, then go with this approach, then use smaller variables. But if you cannot pack your variables, then just use the larger variables. Okay, this one might not be obvious, but function modifiers are inefficient when it comes to the code size. So, function modifiers in solidarity are in line. So, let's say I have a contract and I have a function modifier that says only owner and it allows only the owner to call the function. And I have 20 functions that only the owner can call. And if I use this only owner's modifier, then what the solidarity compiler does is that it will copy paste the code inside the only owner modifier into all 20 of those functions. So, you can see there's code repetition there. The code is in line. The code is copy-pasted and all 20 of those functions. Now, this is not a big issue when your modifier is very small. It's just one line. But if your modifier has like five, six lines, it does some calculations as well, then this code repetition can become very painful. Internal functions on the other hand are not in line in solidarity or even whatever. So, if you call an inline function, it will be as a separate call. And so, there won't be any code repetition when calling inline functions. So, if your function modifier is big and you are using it at multiple places, I'd suggest that you just use internal functions and call them instead of using a function modifier. That way, you will be able to save a lot of code size. But do keep in mind that calling internal functions is slightly more expensive than using function modifiers during runtime. So, you'll be using, let's say, about 50 gas mode. So, it doesn't really practically matter, but it's something to keep in mind. Another thing you can use is libraries. So, as I mentioned, libraries are an awesome thing. The only reason keeping holding them back right now is that they are expensive to use. If you use libraries, you'll have to make an external call and it will cost about 3,000 gas just to make that call. Meanwhile, if you use an internal function, it costs only 50 gas. So, there's a huge discrepancy there. But if the change I talked about earlier where we split the fetching cost and execution cost into two different parts, then using libraries will become very cheap and they'll be like a very good tool. You can use them even now if you are very desperate. So, one thing to note about libraries is that only the public functions in the libraries are basically called externally. If you define an internal function in the library, then that code will also be inline in your main contract and you won't be saving any gas. So, just like function modifiers are inline, internal functions of libraries are also inline. So, if you want to save the contract code size, use public functions. In libraries, delegate call is used under the code. Conducts of calling contract is passed. So, this info is just about how libraries work. So, I'll just skip forward. And so, these are some miscellaneous tips. So, some of these are obvious. For example, avoid initializing variables with default values. I've seen a lot of people that come from backgrounds by using C++ or C. So, they have a tendency to initialize all the variables with zero. But on solidity or EDM, if any uninitialized variable is actually of value zero. So, there's no difference between uninitialized variable and a variable with default value of zero or false in boolean or whatever the default value for that variable like this. So, if you just want a variable with value zero, just create it. You don't need to set it to zero separately. You don't need to waste your precious gas in doing that. Use short reasons strings and require statements. This might be obvious, but I've seen people who just write a whole novel in the required statement that you should be doing this, this, this, this, for this to succeed. But that actually costs gas when deploying the smart contract. The reason strings are stored on the blockchain itself. So, you have to pay gas for the reason strings. So, always try to keep your reason strings within one word limit. So, that is 32, that is 256 bits basically. So, keep that within the limit. Avoid repetitive checks. So, this is a lot common and it was present even in open zeppelin's previous contracts. So, when you use same math, you are already checking for buffer and overflow and overflow. So, you don't need to check separately. So, if you are doing transfer function and you are seeing balance is equal to balance minus amount. So, if you do balance equal to balance dot sub amount, then you are already checking that the amount is basically less than balance. You don't need an additional check which says that require balance greater than amount. That's a unnecessary check and you can just remove that because same math already does that check. Make proper use of the solchee optimizer. So, many of you already use solchee optimizer, I guess almost all of you do. But there's one parameter in the optimizer that you can configure that is called runs. So, the default value is 200. Runs is basically the number you pass through the compiler and compiler uses that number thinking that it's the number of times that smart contract will be called. So, if you set the number of runs to one, then the compiler will optimize the contract code such that the contract code is very small. So, it's cheaper to deploy, but it will be a bit more expensive to make calls to that smart contract. If you set that number to very high, then the code size will be a bit bigger. So, it will be a bit more expensive in deploying but for end users using that smart contract will be a lot cheaper. If you're deploying token contracts or something, I'd suggest setting this number to high so the transfers are cheaper. But if you're deploying something like a vesting contract which you only call once, then you can set this number to low so that the deployment costs are low. See the limit? So, bypassing the limit. Basically, you can just use libraries and delegate calls to bypass the limit. What delegate calls do is to keep the storage of the current contract, but they use the code of another contract. So, you can make a delegate call in your own contract and call another contract while using the code of the other contract. So, in this case, let's say you have a token contract and you are using delegate call in that. So, all the balances of that token contract will be used, but the code of the other contract will be used. So, you keep the data, you keep the context, but you have different code. So, you can divide your smart contract into multiple smart contracts where only a single contract, the master contract stores the storage and the other contracts store the contract code. There are other techniques like EIP1538. So, this is also based on delegate calls. So, in EIP1538, what the author has done is they have created the first contract as a master contract that is an index of all the other contracts. So, you always call the master contract and then the master contract will decide which function to call. So, it's a bit like pagination, but done on top of the current architecture. So, it's a bit more expensive, but it works. So, there will be a master contract. You call that, let's say you call the transfer function. The master contract will see which of the subcontract has the transfer function and then it will just call that. And that, those were my slides. Thank you for coming out. If you have any questions, feel free to ask. Are there good libraries for doing this? I don't think there are any libraries, but the variables are always packed by default. So, in storage, if you define variables, smaller variables, the searching compiler will always pack them together. You don't need to do anything. There are some rules to pack that you need to follow. For example, you cannot pack the variables defined in memory. So, if you define variables within a function, those will not be packed. The variables defined outside the functions will always be packed.  You can look at the solsheet documentation and you can look at my blog I did a post about it. I have a question on something like mappings, right? If they grow really big, like the size of the mappings, right? Is that a problem? Is there a restriction there? So, on EVM, you can have 2 to the power 256 storage slots. So, in reality, you can never use 2 to the power 256 storage slots. So, that storage problem is not an issue. Okay, I guess that's it. Thank you.