American International Group, The Blackstone Group, Reuters July 8th, Daily Stock Market Recap with Tom O'Brien – 2021

This is tom o’brien of tfnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnn we five days a week. We go seven hours a day. We go 24 hours a day in the internet at, always remember folks, whatever you think about you bring about whatever you focus on grows up everyone’s having a great day safety let’s, make it a great night folks to master love. You have to practice love the idle relationship is a whole mastery and the only way to reach masteries with practice to master a relationship is therefore about taking action, not about attaining knowledge market. Wise let’s. Take a look at it out here. We have that our industrial is down to down 326 nasdaq off 105. s: p’s off 40 gold contract down 2.70 cents trading at 17.99 notes. You get silver down: 13 cents, 25, 98 cents, an ounce light sweet, crude up, 87 cents. Seventy three dollars: six cents, a barrel, notes and bonds. Ten year note up nine ticks trading, one thirty, three! Thirty, seven thirty year up, nineteen at one sixty three, twenty eight and kingdom kingdom is down 243 ticks trading out at 92 400.. The euro is at 118. The yen is at 109.83 in the british pounds at 137 to 1 us dollar. Our phone number is 877.9276648. Give us a call folks want to know what’s going on in your world in the world of the s, ps let’s, take a look at them. What do you have? Well first day we had read in a long period of time here bottom line, you get a pullback you’re, you don’t have big volume, that’s the bottom line so uh.

You know you get 65 million shares here. It’S, not bad, but you know if you get a if just to give you an idea. The last time we came down on june, the 17th and 18th uh you banged out 90 million shares and then 118 the prior time with that was 134 and 130 116. So the bottom line is that you get a pull back, but you still don’t have a lot of selling here, ndx 100. This is the one you want to keep your eye on folks. The reason being is that what we did is that you finished off two abc structures on the way up: uh the price projection of the second one was uh: 360 285. We got the 360 276 and then you have a third one that’s in place, and this third one in place has a price projection of 370 56, and this does not negate it on the way down. Uh, we will see whether it turns into a complex one. It would if it got under 355.09 355. yeah 355.01, actually uh, then it can turn into a complex one. The complex one means that you’ve taken the b point out. You took it out with volume, you pull back underneath it and a key kick in there is that you have to pull back with light volume. You can’t have the expansion of volume inside of the ndx. The bottom line is that you still don’t, you know just to give you an idea like the in march.

Well, actually, the last time even was that june. Yeah june, you pull back with 55 billion, you get 40 now we’ll we’ll do 50. um, but prior to that uh the one in may. We pulled that back with real volume it. The bottom line. Is it rejected lower price out here today and you’re gon na? Have a volume that’s, not heavy gold gold contract here made the run up to the 18 18 area, gave it up on price again uh you get the volume behind the move, though that’s saying you’re going to be right back top side now this is what’s really Intriguing because if we go over and we take a look at the yen, what you’re going to see is that the yen got strong like bull now, when the yen gets strong like bull man, the bottom line gold likes to go to the moon. I think we got actually basically lucked out that one, the yen actually broke top side. It was a false break. Top side 111 yen to one us dollar bottom line, gave it up on spades now, we’re at 109.82, that’s saying that the end wants to go all the way back to this 107 area and that should really put some juice underneath the gold market silver. We go. Take a look at the silver market silver market right out here you got to 26.31 you’re trading 26 bucks right now, and you know bottom line. Silver is actually still stronger than gold and good old king dollar.

So, coming into the weekend tomorrow, kingdom is going to be something to keep your eye on uh king dollar didn’t hold price. Today the number keep your eye on. The king dollar is going to be the 92 405., the 92 405 number folks, okay, is the first big swing point that when the dollar came off its lows in may bottom line had a huge run and it did a 0.618 retracement and that 92 405 is The number to keep your eye on you know: we’ve been over it uh twice. First time we came over, it got back underneath it quickly rose just as quick came right back uh, underneath it again some of the higher volume equities that we have out here today. Oh you talk about amc, oh man, these stocks are something else. Man amc folks was down ten dollars now. You’Re up a dollar bottom line went from 38 to 49 and about a heartbeat, rejected, lower price out here. Uh, these meme stocks are just something else. Man, i mean that’s. The bottom line is that um they they pull back and uh. Those reddit traders are just all over those babies, some other higher volume equities out here today. What we have you have apple uh is down 142. You got the virgin galactic up. 693 we’ll go take a look at that one wells fargo is uh down a buck 30.. Now this is interesting about wells. Fargo, i’m i’m wondering how big their actual their business actually is.

Um in the credit business because wells fargo came out and announced something that you don’t see the last time i actually saw this was in 2007 when they shut down all banks, shut down credit lines, but wells fargo says shutting down all existing personal lines of credit And will no longer offer the product to customers in an effort to simplify our product, offer ensure we’ve made a decision to no longer offer personal lines of credit uh, as we feel we better meet the borrowing needs of our customers through credit card and personal loan Products bottom line is that i’m, not quite sure about that let’s see the portfolio uh and the personal lender book was 5 billion. I guess that’s not that’s, not much at all, not for them anyway. Let me just see what yeah five billion is nothing. I guess it’s, maybe it’s a product people don’t use anymore, uh revenue, yeah yeah. You know what this is: nothing five billion they take in 71.4 billion, so a portfolio of 5 billion for a bank. No doubt uh is nothing the uh. We had a question about uh. This is a cool one. Okay, so check this out. So amazon is in a abc structure on the way up and 37.45. Do we hit it yet uh there it is okay, so this is cool, so amazon hit the daily abc structure on the way up.

What do you think?

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