September 10th The Tom O'Brien Show on TFNN - 2026

The following is a presentation of TFN. The Tom O'Brien Show is produced every business day. Tom takes your phone calls toll-free at 1877-927-6648 internationally at 727-8737618. >> Let's go to Eddie and Milton. Hey Eddie, what's going on? >> Hey Tom, how are you man? >> I'm doing great man. Yourself? >> Good, good. It is a treasure to have TFN every hour during the trading day to be there to help you, to guide you, and even give you some peace of mind or like that somebody else is there with you while you're while you're trading these crazy markets, either up or down. >> Well, listen, we appreciate you growling following us out here cuz we wouldn't be out here, folks, if we didn't have all you guys, gals, tigers and tigers as his clients. And you know, the market teaches you every single day, man. Now, Tom O'Brien. >> Good afternoon, folks. Tommy O'Brien coming to you live from TFN. We pick things up on a PPI Thursday and we have yields accelerating higher. Crude pushing above $100. How about 10221? We hit 103 and change. Quite the acceleration right now. And we get PPI numbers this morning. And you talk about yields as I jump around. It's not stopping. You talk about a number, folks. You got a 10-year right now down 24 ticks 10610. How about 4.95? Okay, we got a first acceleration overnight. There's your 830 volatility. I'll get into the PPI numbers coming up and they weren't outlandish. The big inflation data is tomorrow, but right now 4.95 is the number on the 10-year. You talk about a number, man. Yields. Now you jump over the dollar. higher yields, giving the dollar a little bit of a bid, but you got volatility and nothing too outlandish. We actually came into that 830 PPI number already pushing 99. You backed off a bit. We're back to 9907 right now in the dollar. But you check out the yield curve, folks. You talk about a number, man. The 10-year 11 basis points. 11 basis points. Okay. The 2-year moving almost half a quarter point when you put it that way. up 13 to 4.56. Folks, I've said it before. You got cash sitting in a bank account, okay? Sitting in a brokerage account, make sure you're getting rewarded for the yield right now cuz it's out there and you're talking about a number that is worthwhile when you're talking about a 2-year at 4.56 right now. Quite a number. All right, we jump over the equities S&Ps right now. So, yeah, the market there's your 830 number. Yields spike higher, the market spikes lower. We have an S&P off 6/10%. NASDAQ off 1% on the DOT 29,157 right now. You have a Dow off 375 52,048. And even in the Dow, you got a few bright spots in the Dow, but still off by 710. And the Russell off by 1.2. I mentioned crude. So quite the escalation. Yeah. And complicating the inflation picture. You better believe it. Okay. on a weekly basis just breaking away from the $90 area area and you're doing it with volume. Okay, check it out on the crude futures. You got volume. You got volume. The most we've seen since this acceleration early on. You're coming into 1.6 and we've done 1.1 right now, but that's coming into today and tomorrow. We'll see where we go on a daily basis on crude. Yeah, doing about 400,000 contracts right now. quite a number as you escalate higher. Now you talk about inflation, dollar sitting at 9908 and gold off 98 bucks. Yeah, something's going on. We just got another acceleration right at 3:00. Look at this. 4363. Gold down 2.2% right now. We're coming back. We'll take a look at metals, folks. If you spend any time online researching trading techniques on how to begin your trading journey, you've no doubt come across many folks who push Forex trading as a way to make big money quickly. 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TFN airs live financial content streamed live on TFN.com and TFN's YouTube channel with Tiger TV live every market day from 8:30 a.m. to 400 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. Watch online at tfnn.com or on TFN's YouTube channel and become the investor you were born to be. TFN, educating investors. Welcome back folks. So, we have yields accelerating. That's the move today, folks. Now, 8:30 a.m. tomorrow, we get a CPI print. And that's going to be the deciding factor for a Federal Reserve that meets 6 days from right now. Okay? Fed meets September 16th. That's this Wednesday coming up. And right now, the market has it priced in about a 70 7030. Okay? 7128 7129 in terms of a hike being the 71% probability. And that's for the meeting coming up. But that that's going to be decided by the CPI print tomorrow most likely as that odd will swing when we get some clarity on if inflation's abading. But right now you're talking about 4.95%. Okay? And you take a look at this thing. Look at this weekly. Look at the breakaway. I excuse me. I've had this this whole area on my chart for some time, folks. Okay? You're going back to 2022 when we've been chopping around. Okay, got the general area in 23, the lows in 24, the lows in 25 briefly the lows that we hit in July and that's a decisive break away from this area of 10610 at 4.95%. Quite a number on the 10ear. Now you look at what yields have done since the war began. Okay. Pretty remarkable that we're we had a 10 year with a threehandle, folks. We had a 10 year with a three handle. We're we're approaching a 10 year with a five handle. Okay. And it was 3.98 or something. So, call it 4% up here at the beginning of March. And you might as well call it 5% cuz we're at 4.95. So, it's a full percentage point over that period of time. You jump over the dollar. Let's put it on daily. Okay. Okay, I'm going to do the same comparison where we game came into it. Okay, and here was your first thrust higher. The dollar was at about 98. Okay, you got a brief acceleration initially, you pulled back, you got another acceleration, and then you had a remarkable pullback. Yields have had no pullback whatsoever. Okay, we've seen the 10ear go from 4% to 5%. In that same period of time, the dollar is going from 98 to 99. And you have a gold contract doing the same comparison that comes in at 5200 almost. Okay. And we're sitting at 4363. So gold's gotten punished. But the dollar the dollar's only up one full point when we've gone from 4% to 5%. And right now we got a lot of hikes priced in. Okay. and we're getting at the upper echelons of of what's acceptable and reasonable within the realm of what I imagine Treasury is going to try and do. Okay. And that gets us to our next one. So, can he be bigger than the market in the long term? No, he can't. He sure as heck can in the short term, though. Okay. And we're approaching levels that they're going to give it a shot, folks. and you're talking about yields and then you're talking about oil and he's making the play that he has asymmetric information, right? He's saying, "Bet against me. I'm the house. I know information you don't." And that's allowed when you're a central bank or when you're talking about that central bank's currency. Okay? You better believe that they have inside information. But the market's talking right now. And I imagine this 2 billion4 billion $6 billion buyback deal that's not going to fly when this is what rates are doing. Okay, he came into this outside of the normal announcement, right? That that announcement that they were going to at least double their buybacks was outside of the normal schedule where they were announcing their buybacks. So I wouldn't I'm not in the camp here that we're going to have the tenure go from 5% to 6%. Right? I'm not in that camp that that's going to happen. We're coming into politics here, okay? We're coming into the midterms and the president's trying to hand out $5,000 if Republicans win at the midterms. So, I imagine that the Treasury Secretary is going to try and stimulate this market as well. But boy, today, folks, you talk about it, okay? It's not slowing down. This market's talking and we're making new highs in yield as I talk to you right now. Pretty remarkable. We jump over to Oracle shares. So, NASDAQ under pressure, growth stocks under pressure, off 4.2%. 2%. Okay, we got Oracle, their numbers after the bell. And yeah, you need more volume in this thing. Okay, I was talking about this morning. Look at how the bounce we've gotten. Declining volume on each leg of the bounce. Last week, you do only 115 million, right? The first bounces were on 173, 162, and 144. And you got above that on 115 last week. And now you're ripping lower and we're coming in with already 100 million. This is going to be the week. So yeah, doesn't seem like Man, you're telling me that the volume's setting up for lower prices and it is on Oracle right now, folks. Okay, you got volume at the lows, you're bouncing on lighter volume and now we're getting a selloff. And hey, when you got crude, okay, looking like this. Yeah, that's going to be a problem, folks. But my feeling is longer term. Okay, you look at the action in the GDX as yields are spiking higher. All right, there's your 830. We came into the 830 bar at 9661 in the GDX, folks. Okay, yields are accelerating higher and the GDX is not selling off. There's a lot of strength there. And I say that on a day it's down 3.2%. 2%. Okay, but you already came into that PPI number and yields have continued to accelerate right now. You know, you got crude driving this market. Okay, crude was already at $100 when we got that PPI print. So, we just have so much going on, right? You got PPI that throws an accelerant on things because you better believe it. Look at what this market did in yields. Okay, the 10-year just dropped 15 ticks on that 830 PPI number. 15 ticks. The 10-year just dropped. You jump over the 2-year. I mean, just a mammoth move on the 2-year. So, the market's looking at this data and they're thinking tomorrow we're going to get the confirmation that we're going to get a hike. The other side of that is it's already almost priced in, folks. and it's definitely priced in by October, right? So maybe they're worried now and we'll get that for CPI tomorrow. But I imagine Treasury is looking at this and I imagine the Treasury Secretary is wishing they went a little bit bigger than 6 billion on the buyback yesterday. Okay? And he has time. He does. But it's going to be a ramp. And this ramp has 27 months left. That's in if you just go through the entire administration, right? They got a lot of time left. And he's already starting with 2 billion, 4 billion, now we're at 6 billion. Where do you think we're going from there, right? So, we're going to deal with some extreme volatility. And tomorrow may say that we're hiking and the yields are basically already pricing it in though, folks. Okay? This might be a rumor that Yeah. Can you imagine? We got a CPI print that says we're going to hike and we get a reverberation. Well, keep in mind what this market's done over the last 10 trading days or so. You're talking about from 10824 to 1069. Okay? 2 and a half points in the tenure over that period of time. And you're talking about a move in yields. I mean, check this out. Here's your 10-year. And yeah, we're up almost a quarter point already. Now, the 2-year is going to trade off the the Fed, okay? But, you know, we can get some PP CPI that confirms things. And this market's basically only already pricing in another quarter point just from where we were 2 days ago on the 10ear. Yeah, let alone the run that we were at 4.63 on August 25th. You're up 32 basis points over that period of time. So, we got a lot of hikes priced in. And gold down 89 bucks off 2%. We're coming back with Tim Hort, author of the OR Oracle. We're talking some equities and we're talking some metals, folks. Come right back. Many trading newsletters attempt to focus on a narrow equities or commodities. While this works for some, it often times misses many opportunities that possess huge gain potential. But how is an independent trader supposed to scan the entire market looking for these hidden opportunities? 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You have to practice, sure, but you also need excellent instruction from experts. At TFN, you'll get advice and guidance from the authority in technical market analysis. And it's not just dry, tedious text, either. TFN airs live financial content streamed live on TFN.com and TFN's YouTube channel with Tiger TV. Live every market day from 8:30 a.m. to 400 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. Watch online at tfnn.com or on TFN's YouTube channel and become the investor you were born to be. TFN, educating investors. This portion of the Tom O'Brien Show is brought to you by Directions daily leveraged and inverse ETFs. Whether you're a bull or a bear, you choose the direction. Visit direction.com. Investing in the funds involves significant risk and should only be utilized by investors who understand the impact of leverage and actively monitor their portfolio. They are not designed to track the underlying index or security for more than a day. Before investing, carefully consider a fund's investment objective, risks, charges, and expenses contained in the perspectus available at direction.com. Read carefully ALPS Distributors Inc. Welcome back, folks. We got an S&P down by 50 points right now, yields rising, and we got medals pulling back to talk about some of the action. Right now, folks, we're going to jump over to our man Tim Orard, author of the Ordor Oracle to check out Tim, you can visit his website, folks, there you see it, oracle.com. And don't forget, if you head on over to TFN, folks, right under the services tab, Tim's got two great webinars, the six secret ratios every trader should know, as well as the secret science of market tops and how to identify those market tops tops. Check Check those out as well. I'll get it out. Tim Moore, good afternoon. >> Yeah, good afternoon. Uh got some interesting stuff starting to go on here. Uh this is kind of a where did my indicator go? Here it is. Anyhow, this is the June kind of the same thing we talked about uh on Tuesday, but this is a June high. uh the July high comes right around uh 755 area and we had a sign of strength uh can't quite there but this is or this green area sign of strength SOS through that high and a lot of times you go back and test it uh we tested it there on ladder volume had a rally now we're back down into that uh gap area which is the um yeah the August 4th gap had 69 million shares uh um when I made this chart. So in other words, you test this gap, you want to be 10% less. So that comes in around 72 or 62 million shares. So anything 62 million shares or less, this gap should hold. And this gap's also again the high of June and July. Uh so this is important area. If it doesn't hold, um then we could possibly have made a top. Uh my opinion, uh I think it probably will hold. We had a trend close here a couple of days ago 1.34. A couple of days ago um a day later we had 92 downtick readings. That's bullish combination suggest low should form as early as the day of those readings to as late as two days later. Um but actually be today some it could be tomorrow but it's normally late as usually two days. I have extended out to 3 days, but usually panic really kind of shows up right before the next rally. So, I'm thinking this is going to this support area is going to hold. Uh so, we're still bullish. Um we're in a support area. We got a little bit of panic uh especially in the text, but a little bit of panic in the trend on the weekly time frame. Um yeah, this is the bottom window is weekly VIX. We're actually above 17 right now when I made this chart 17.52. And the next window up is the weekly um weekly SPIX ratio. And uh when both of them are above the mid Ballinger band, um that's all the green area here. Uh when both are above the mid Ballinger band, this is a weekly chart. Now, uh the uptrend's intact. when when one of them falls below the mid Ballinger band, which is the yellow here. Uh we got actually yellow today. If you notice, here's kind of a blowup window. You can see when I made that chart, uh >> uh the weekly SPX fix ratio is below the mid- ballinger band. So, that turned it yellow. Uh here's the S&P. We're still above the mid Ballinger band. So, both of them have gold below the Ballinger band get the sell signal. So right now uh we're in the you know yeah the red areas here are when both are below the mid uh Ballinger band. So, we're not in a actually the pink area. Pink area right here. That's when both are below the mid Ballinger bands. And I think I see >> if the market rallies like I think it will >> I was just going to say the buller band. Where is it around like 7550 7560 something like that if it was the spy uh the S&P? >> Uh yeah, it's u it's a little >> pretty close, right? Yeah. Yeah, you can see uh I can't quite um >> not far from where we are right now. I'm just those are 50 point jumps in between each one, right? So you're talking about I think right 7525 7540 something like that. Um not far from where we are right now and yeah and not often that you have a change not a change of trend but that the last time we talked it was green right and then we got a little yellow. So something to watch and the VIX almost I think we just hit 18. We're at 1793 right now on the VIX, Tim. And we uh So, yeah, quite a number. Yeah. So, yeah. So, it's kind of a interesting what's going to go on here. So, we got to get below this line. Uh then that would be actually below the previous highs here too >> of June and July. So, you you break the below the previous high. So, uh but you know, next week's expiration week, which normally has a bullish bias. So, um we're kind of see here's here's a blown up chart. You can see a little actually a little better what's going on. Uh here's support. Here's that Ballinger band. Uh the Ballinger bands at uh 7521. >> Uh so that's where that line is. And you can see here we're below the Ballinger band on that. So you kind of see what's going on. But yeah, you actually compare volume. You see this sign strength right here through the previous highs. That's what you have to have. We have to have side strength through the previous highs and previous highs become support and you measure the uh up volume or you measure when it's rallying you measure how that volume pulls back and if it starts pulling back higher that can be a worrisome sign and this is earlier in the trading day today but volume gets higher than it did last week uh on the down day that'd be kind of a worrisome so we'll see what plays out but I think this area is going to old. Uh but yeah, we're in a kind of a a blue area or a yellow area because the uh SPX fixed ratio is below it mid Ballinger band. So yeah, it's kind of a worrisome and usually September is not usually the first se the first half of September's up seasonality wise and the second half of September's down and again next week's expiration week which normally on September is a bullish bias. So if the market rallies, if I get back to this chart here, I don't know why that jumped up, but if this market rallies and it rallies next week, uh kind of light volume rally and we don't go above the previous highs, uh we could be setting up for some sort of a top. How big a top? Don't know. But you know, next uh area support comes in around 7,000, which is basically this high. So, could it have pulled back to 7,000? Uh, maybe. So, but I'm still long. It's too it's too soon to say, you know, you jump out of the long side right now. I just don't I don't think we're we're set up for it. At least not yet. So, >> yeah, because people in the Tigers done, of course, and I know you live by the ratios and the charts and and I do to a certain degree as well, but they're just asking. I want to get your feel like crude, right? Crude at 103. Does that do you think about that at all coming in? And then the yield conversation, I'll throw that in as well. What do you does that give you, you know, do you think about that stuff or you just living by because cr Yeah. >> No. Well, the market kind of interprets all that stuff. >> So, all the smart money, you know, the the oil traders and the the debit traders and all that stuff. They they already made their bets or they're making their right now. >> They're making them right now today. Exactly. >> Yeah. They're them right now. So yeah, it's not the market's already interpreted and the smart money of the oil and and the debt people are making their bets and and right now >> I don't know if you heard me before you were coming on, but maybe you know if we're going to get a hike, it's already almost priced in. Even even over the last week, it's almost priced in. It keeps getting they keep pricing in hikes every single week. Now I All right, folks. We're going to come back and talk some metal with Tim. We'll come back. We'll be right back. If you're looking for potential trading setups in the stock market, then Rocket Equities and Options Report is a newsletter you should try. Tom O'Brien delivers options and equity trades when the markets present them using a combination of fundamentals and technicals. Sign up for Rocket Equities and Options Report today with a 30-day money back guarantee, so you have nothing to risk. For all the details and to start your subscription today, visit the front page of tfn.com. TFN educating investors. For traders who crave risk, directions daily leveraged and inverse ETFs provide opportunities to magnify short-term perspectives with up to three times a daily leverage. Utilize bull and bare funds for both sides of the trade and trade through rapidly changing markets. These are highly leveraged ETFs with daily resetting designed for short-term trading, not long-term investing. Whether you're a bull or a bear, you choose the direction. For up-to-date pricing and performance, go to direction.com. Investing in the funds involves significant risk and should only be utilized by investors who understand the impact of leverage and actively monitor their portfolio. They are not designed to track the underlying index or security for more than a day. Before investing, carefully consider a fund's investment objective, risks, charges, and expenses contained in the perspectus available at direction.com. Read carefully. ALPS Distributors, Inc. 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 TFN, 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. TFN 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 tfn.com. TFN, educating investors. TFN has launched the Tiger Zen, hosted at Discord. TFN has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours. The Tiger Stand available to all Tigers and Tigresses for just $1 for the year. There's no catch or added costs when you join our community of traders. Sign up today and become a part of this educational community of traders. Just visit the front page of dfnn.com. This program is brought to you by Vista Gold, traded on the NYSE American and TSX under the symbol VGZ. >> I'm Orion. Welcome back, folks. We got an S&P down by 42 points right now. Trading right at about 7600. We're talking with Tim Orard, author of the ORD Oracle. And don't forget, folks, he's got two great webinars under the services tab at TFN and his website orenoracle.com. And I see you still got one chart on on the markets. Tim, go for it. Didn't mean to jump in, please. >> This is wag breath thrust indicator. We're below 04 right now. And this rally comes off this market pretty strongly. and pushes the wagon breast indicator up around 6, you're not going to see a top of any consequence anyhow. So, um, so the next rally has to have a sign of strength. If it doesn't and it just kind of, uh, waddles up, I guess you might say. Um, here's another indicator. This indicator RSI has to get above, uh, 60 uh, somewhere in there. you know, ideally gets above, you know, 70, even 80. So, that would be kind of a sign of strength. So, yeah, I'm watching how this next rally performs. I do think since this next week's expiration week and we're at a support area, I think that we still get the bounce. If we don't uh and the S&P closes below the mid Ballinger band on a weekly time frame, I'm out of my long position. So, it's kind of simple rules. >> Uh let's get back to the gold. Let's get to the gold market. Um, okay. It's a different animal here off the July low. Uh, this is the 18-day average up down volume. Showed this decline indicator last time. On August 26th, we hit almost 42 and all it has to do is hit 40. And that's initiation of an uptrend starting on a smaller time frame. It's only an 18-day average, which is basically about a little over three weeks of data. Anyhow, works pretty well. Um, this is these are the last ones. This chart goes back to 2014. It's a pretty rare, you know, it's a pretty rare signal. You get maybe one a year if that. Uh, last time we got one was 2025. Uh, that was coming off. Uh, that's actually even on an uptrend and it blasted up and we got one now. So, we got a minor consolidation going around. Uh, but the bottom window is the GDXGLD ratio. was on the daily time frame. And if you notice, we're making higher highs on that ratio. This ratio leads the S&P and the and the S&P has not made a new high yet. We're in a consolidation phase here. It's just a minor one. It's u 98.99 somewhere. I not sure. Uh I don't have the price right in front of me, but the next rally I bet it keeps going. And how high don't know. The reason why cuz this ratio is already hitting higher highs. Excuse me. Mother goes. Anyhow, there was one failure uh right here. We picked out a high, but the other uh I think there's six times here. So, it's 83% chance this rout is going to continue. Uh so, not really too scared about what's going on right now. Uh here's another blown up ratio. You can see it there a lot better. Um here the ratio made lower highs while the S&P or GDX made higher highs. You got the little minor pullback. Uh here you got uh higher lows. GD you got lower lows. That's a bullish divergence. You got the rally. It hit a new high on GD or GDX daily ratio breaking above that high. GDX has not broke above that high yet. Uh even on a short-term scale. This little box right here is this box right here. So over the last couple of weeks, this ratio even hit higher highs where the uh yeah, we're about it looks like about 96. And so anyhow, everything looks bullish momentum wise. Um these are momentum indicators. Uh the bottom window is accumulate advanced decline. Next window up is the cumulative up down volume. Both are above their mid Ballinger band. Uh so you got advanced incline and up down volume for GDX uh in an uptrend. So, I don't see a top of any consequence there. You can kind of see it a little bit better here. We're in the green area right now. I did this a couple hours ago. Uh, so no sign up at top. Um, I did some We're going to skip uh Yeah, we got time to do this. This is the um this is gold going back to 2000. Uh goes all the way back to 2000. and and it's a 4year which is there's a 8year cycle which is the red part and a 16-ear cycle which is a blue blue or semiircle and in a nutshell it works pretty well. Um the it picked out the lows of 2008 and 2016 and 200 it was a low and that the low low in 2023. The next highs these are all the highs. That's midcycle of the four of the 8year cycle and picked out the 2012 high picked out the 201 high. uh next high is due in September of 2027, which is a year from now. Uh so I'm thinking this cycle is going to work fairly well. So I'm thinking a year from now we may see a cycle high. I'm not sure where that cycle is going to be, but I think it could be up in the two or I don't know where gold's going to be, but I think GDX will be double from here. And here's something else is really going on. And this is uh the HUI to S spx VIX ratio or the HUI to SPX VIX ratio. It's a monthly time frame. And this is a monthly HUI going back to looks like a 96. Uh goes back as far as I could go. Anyhow, I put an RSI to it. Excuse me. And what's point about this RSI? So when this ratio is rising uh that means uh gold stocks are outperforming the S&P when it's declining then SPX is outperforming the HU. So when this ratio is rising which it has been uh coming off lows has to be coming off lows that midcycle has to come off a low. RSI has to hit up in the plus 80s. And I keep talking about initiation of an uptrend. And we we hit almost 90 on this last one. This last one over here was 80 something. I I have to go back and look what it was, but this was even higher. So that's coming off of the first really uh low. It wasn't rallying for was rallying for about a year, but this is the monthly time frame. So it's a big big time frame to look at. And as long as this RSI holds above 50, that says the Gold Socks will continue out before the S&P. And if you notice, we hit 50 here. Probably this is probably the July low and it turned right back up. So, we may find some resistance up around 70 area again. But, uh, probably we're going to bang around in this trading range between 50 to 70, I bet, over the next several years. uh this cycle went from basically 2011 to 2000 or 2001 approximately to 2012. So it went basically 10 years I think there something but what's important if this never made it to 70 or just hit 70 barely and turned back down then that would have changed the whole scenario or the whole picture for the gold stocks but did not do that. We went almost went to 90. And if you're looking look in the textbooks, that's initiation uptrend and it has to have coming off of the bottom. That's so when you have a bare market that first rally off that major low have to be extreme and we do have that here. So this is still in the early stages of bull market and I bet bull market gold stocks will outperform the S&P could be for the next 10 years just because of cycle work. So this is important. So >> I like it, man. We'll we'll see as we move forward. But I agree with a lot of the analysis, man. I mean, the setup and you know, pretty remarkable. The gold contract, folks, you know, you go from basically 4,000 recently 10 to 4362. So we're up like 9% in the gold contract and the GDX trades from $70 and we're sitting at 96. You're up almost 40% just in terms of those equities leading the metal. Pretty cool, Tim. Appreciate it, man. As always, we look forward to talking to you next week, next Tuesday. >> All right, talk to you then. >> Thanks so much. Talk to you then, folks. Come right back. >> Many trading newsletters attempt to focus on a narrow set of equities or commodities. While this works for some, it often times misses many opportunities that possess huge gain potential. But how is an independent trader supposed to scan the entire market looking for these hidden opportunities? One simple answer, the opening call newsletter. 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Apple approaching a $4.8 trillion market cap as they announced the duo. And yeah, Apple with quite the bounce, excuse me, up $10, up 3.3% as they are a point of safety in this market. Now you got Oracle after the bell today. Intel off 5%, Lamb off 6%, Micron off 5%, Nvidia, let's take a look at Nvidia off 2.2 right now. So remember, we're going to get CPI tomorrow and with yields in focus and the 10-year and the 2-year, can't wait to see what the CPI shows as we come into a Fed decision. Okay, six days from right now, the midterms are going to be here before we know it, man. They're already here, right? RNC last night. $5,000 checks for everybody if Republicans win. Can we get a a Can we get a a market on that one? Can we get a uh I was going to say a KPI, a key performance indicator uh prediction market on that one? Trillion dollars. Hey, but yeah, as Tim was saying, okay, you know, pretty remarkable, folks, when you look at it, the run that equities have had in the face of the run that metals have had. Gold was chopping around at 4,000 for June and most of July, right? The run really starts in the middle of July from like 4,000. We only hit a low of 3,955. We're trading up 400 bucks from there, so barely 10%. Meanwhile, you look at the GDX, okay? The GDX was down at $73 in June and you were at $73 in August and you're at $95. Okay, you're at 30 35 40% almost still at 95.90, but pulling back right now, but you still got volume at these recent highs. Longer term, I like that metals market, folks. We're going to get a hint tomorrow morning, CPI at 8:30. I'll see you at 9:00 for the morning market kickoff. Have a great one, folks. Thanks so much. Build.