 The following is a presentation of TFNN Trade what you see With Larry Pezzavento Call now toll free at 1-877-927-6648 or internationally at 727-873-7618 Now Larry Pezzavento Okay, looking good Billy Ray feeling good Lewis I posted the information about Tom O'Brien's time trading timing the trade Seminar on June the 10th. They could it's been to spend the whole day with him folks That's certainly worth every penny. You could possibly pay for it. He really knows stocks really well and he knows futures Well, too. So anyway, it's be great show for you to increase your trading knowledge I've got a little bit of a human interest story to tell you folks We are going to have a three-year-old this week He's got a birthday coming up in a few days and so they live in Philadelphia And so I he loves fire trucks So I searched around to find the very best toy fire truck that I could possibly get and I did find one It was about 75 bucks, which is pretty expensive for a toy But it's a fire truck that comes along with six other smaller fire trucks, you know support vehicles You know CMT and stuff like that it comes in a pretty good size box And they were coming home from a camping trip and the box was there on the front door And of course he realizes that his birthday is coming and crazy asking all kinds of questions and his dad says yes That's your birthday present, but you don't get it for a few more days. Okay, okay So last night they were at dinner and they were all having some fun They were watching a movie and about someone said where's Zaney the little guy He they couldn't find him anywhere and so they started looking for him and calling his name And they couldn't find him anywhere and Kelvin says I think I know where he is so they went up on the third floor Where the bedrooms were and he said he was in the closet folks in the dark closet believe it or not He's taking his little plastic scissors Okay, and he had pried away little by little little by little to get inside the box to see what was in the box And of course he had opened a little a little opening there of about six inches He was able to get his little hand in there and pull out one of the the little die-cast fire trucks and just then his dad opened the door and there He was sitting there in the dark and he looked up at his dad and said it was an accident When I heard that I said oh boys this could he's got to be an attorney when he grows up Anyway, I laughed so hard when I thought that he is so clever They speak both Chinese and English in the family so he knows both languages You know equally well, so it's really quite good. Let's talk a little bit about the markets one of them It's really in trouble folks. I want to Bring this up to you to show you You you most of you already know it and then I have a little confession to make here about something that I Did that I'm not too happy about anyway This was the 382 the other day if you remember we gap down here Yesterday we had a big three-point break off the high we rallied almost exactly back to the 382 this morning at 140 0.03 folks we got to 140 even and then we broke two handles to the downside the bond market is in big trouble folks I don't know whether the feds is playing with the market or it can't do anything about the market All I know is it's looking very very bad from that point of view by the way my guests today will be rich Anderson we're gonna be talking about the grains part of the day and especially the second half of the day So you don't want to miss that because we're having some really serious corrections here in these grain markets But that's not unexpected. We'll we'll cover that in just a minute Okay Now let's move on to something that I did and I want to explain to you Those of you that and I you know it's a hard explanation to do but just give me a second I want to talk to you about crude all folks if you remember yesterday our trade of the day Of course was selling crude up at that one Night one 1950 level that was right up in this level right up in here And it had a break you can see it has an ABCD perfect ABCD down right here folks That's a perfect ABC at that point. We have a profit between 119 and 114 That's a five thousand dollar profit So my assumption was and I said this out long before it happened none of this had happened yet So I said let's sell the 382 retracement, okay We'll put a stop right above the 50% and if we get filled we're going to give back a lot of money We'll still make around just a little under two grand, but we're going to be given back about three thousand dollars worth of Profits well, that's exactly what happened the market went up and never guess where I went to folks Exactly to the 61% retracement at 17 point one seventeen seventy four and then's broke another Dollar and a half almost two dollars down from that level The the frustration that I have is folks when I'm trading a 15 minute chart There is absolutely no way that I can get out the information What I think is happening compared to what could be happening to you So you've got to be able to you know manage some of this yourself And I told the folks you give if we write if we're right on this and this was a 382 That's a twenty thousand dollar move from the high here down to the low Which would come down at around one 109. I mean this is this is why I did it I mean I think I would do it over and over again But again, you know, I don't have any control over what the markets are going to do I can see them pretty clearly on a 15 minute chart But when you put the order out and you said well, this is what we got a look at that could take anywhere from 15 To 30 minutes and my goodness these markets can move around so much and that's exactly what happened We went right up to the 61% retracement and then back down again So how do I handle that basically folks? I shake it off. The reason why is and I'll show you the next chart That we want to cover is something we've been waiting for for a very long time here and that number was 1825 in the gold market. Let's get this up here So we'll be able to see it one second here Alrighty here we go Okay, now this is June gold now this is we put the trade on June was still the active month. We sold it short right there You'll see we had the big ABCD down in here. We were buying that low that big ABCD Right there at the bottom the market rallied up to the 382 over a period of almost two days two weeks And then it started its way down and you can see the perfect Gartley pattern right here in the June gold at 1825 and the low today was 1825 30 in market rallied around 25 bucks $2,500 it's given a little of it back But the way you handle that is if you bought that low you want to lock in at least a $500 profit So you'd run a raise your stop up to 1830 so that you protect $500 much like in the in the crude all you don't know which ones are going to work and which ones don't and The biggest part of trading folks is once the trade is over my goodness forget it and go on Go on to the next one. Look at look at tiger woods You know, he's been playing a little better than usual, but still very very poorly Do you think he throws his clubs in the in the water and then you know gives up? No, he just gets out another club and try something else and that's what you got to do In trading, you know, you got to shake off that loss or profit even and move on to the next trade That's the that's the one that you want to be paying very very close attention to So that's I that's the key to hold this whole thing is risk control And if you learn the patterns as far as what they should do as far as risk control You're going to be far better off than if you're sitting there You know trying to beat yourself up because you did something wrong Hey, you didn't do anything wrong in crude all you made just a little under $2,000 not many people can do that But that's neither here nor there So that's the psychology behind that. Believe me. I I do I feel bad about it? Absolutely not because we had a chance at something big They paid us a little bit and the other chance will be there soon We'll just wait for the next bus eight seven seven nine two seven six six four eight In a time of booming inflation we are purchasing powers eroded There's no better place to protect your harder and money than ain't gold Vista gold's flagship asset is the monttard gold project in the northern territory of australia This is australia's largest undeveloped gold project We are talking a world-class gold project in a tier one mining district This is a large-scale low-cost project with significant existing infrastructure in a politically safe and friendly mining jurisdiction Vista gold just completed the monttard feasibility study Which resulted in a seven million ounce gold reserve in a 16 year mine life All of this combined with the approvals of all major operational as well as environmental permits This distinguishes monttard as an attractive Dearest pot ready development stage gold project Vista gold trades on the new york stock exchange under the symbol vgz You might think that if you want to be successful at trading in the stock market You're going to need a crystal ball after all it's impossible to predict the future, right? Like any endeavor in life before you decide it's impossible get some advice from the experts You might find that it's not so impossible after all for daily market overviews that give you direction on the key indices Selective stocks and commodities Subscribe to the opening call newsletter at tfnn.com The opening call newsletter is written by basal chapman creator of the trading methodology known as the chapman wave The chapman wave up down sequence gives you an edge in identifying price turns finding the peaks and valleys and stock prices Get the opening call newsletter by basal chapman in your inbox every day First time subscribers also get a 30 day money back guarantee If you're not satisfied let us know and you'll get a full refund within 30 days of signing up tfnn.com educating investors Steve Rhodes started his trading career as a student almost 20 years ago and the student has now become the master Steve won the prestigious timer of the year award in 2018 and barely missed that mark again in 2019 Finishing at number two for the year an amazing accomplishment Steve Rhodes is committed to sharing his techniques and knowledge with anyone who wants to learn And he shares his vast amount of trading knowledge every day in his mastering probability newsletter Steve's award-winning newsletter mastering probability is delivered every trading day with updates throughout the afternoon Sign up for steve's market newsletter Mastering probability and you'll receive access to seven of steve's educational webinars Absolutely free at tfnn all our newsletters come with a 30-day money back guarantee So you have absolutely nothing to worry about visit tfnn.com and try mastering probability 30 days risk-free today tfnn educating investors All now toll free at 1-877-927-6648 internationally at 727-873-7618 Okay, folks, I posted the chart of the euro if you notice here that we had the Cell signal up here at the 3a2 retracement right here after a two week rally We went right up to the 3a2 of the high that we made way back here In march, okay Sets up perfectly But what I wanted to show you is these beautiful abcd patterns as you can see here the last one Completing right down here, but look at this the market rallies for five or six days with about as weak a rally as you could possibly get And then breaks down that that makes these abcd patterns failures folks So that's why they're good for predictive purposes But they're also good for risk control and that's what the whole reason behind this is Once you go below this low right here after this five day rally That is not a good sign and as you can see We do come down Further and then we rally over the next two weeks exactly up to the 61 percent retracement now it's important at least from my perspective if you're going to trade The euro or any of the currencies, you know, especially the euro because it's so heavily weighted in the dow in the index for the dollar index What you want to be able to do is to watch the dollar index. I I don't trade the dollar index folks I I haven't for years. I basically trade the major cross rates You know that we all know, you know the pound yen swiss Canadian australian and british pound Anyway, this is what we're looking at here You'll see when the when the euro was topping yesterday You can see there is the 382 retracement of the low going back to march Right around that eclipse at the same price at point 382. So if it's a p8 if it's a If it's a 382 point in the dollar index coming down, then it must be a significant Number on the euro going up and that's what happened the euro was going exactly the 382 It took 10 days for the euro to make the 382 And now you can see the dollar index is starting to move And also the euro is starting to move the euro is up well over 1700 dollars now folks in a margin That's only 2000 so that's a good return on margin now The 64 dollar question am I adding to there? No, I'm not adding to there at all And the reason was is that I could only jungle so many balls at one time And believe me, I've got so many balls in the air. We had a big moving crude oil a big moving gold We covered the short stocks yesterday We're looking to you know, go get shorts to stock some more We missed the bonds today by three pips And the gold was uh, it was a really good one. So that's uh, You know and the losers if we have them, you know, they're going to keep them Keep them relatively small. This is the way we like to Trade it now. Let's take a look here. Now. That's basically, you know, this is the week of the queen over in the uk so It's it's basically a holiday week over there the markets are I believe either open part time Or even closed on thursday and friday But let's take a look here at the footsie since we've got this up in the air right now We'll get up here to take a quick look at the old footsie here They're getting ready for the queen. You can see the celebration in the apcd here in the uh footsie and so That's exactly what we've had so far Going on in the footsie, but they are it's a holiday type week. I mean, it's not an official holiday, but Thursday and friday, I believe it is uh that the markets are closed or only open part time They're open regular time now, but there's really really light volume people just take the whole week off Much like they do the first week in february in china, which is uh the workers week I think is uh is what they call it now this going back another reasoning for my uh for putting on the The extra short in the in the crude oil selling it back on a 382 retracement And i'll show you why this is the uh This is the largest etf for crude oil energy. It's basically energy etf But you can see here We have the big abcd form right up there. You can see the 1.618 expansion Yesterday's volume big volume day to the downside That signifies that something's happened in that oil market at least from the the uh etf standpoint So that is and you can see uh a beautiful three drive to a top period over the last Three weeks just absolutely beautiful abcd So you've got a three drive to a top pattern. You've got a double abcd And you've got this larger abcd So you had three things to tell you that hey, this is where you want to play from the short side And as you can see that's what happened. That's what I was looking at along with the looking at the uh The crude oil contract as we said the crude oil should top at around 1954 It went 40 pips higher and believe me folks those 40 pips were over in 10 seconds The market went up and down so fast you wouldn't even believe if you hadn't known your stop was there And our stop was uh about 30 points higher than that you'd have never known why you got filled But that's neither here nor there So as we see this market topping now My strategy will be i'm not going to do anything more on the crude today So i'll be watching the next day or so to see what my next level is going to be And that's what I do. I move on to the next trade And not worry about whether it's going to be a winner or a loser Or anything like that all i'm trying to do Is to find a situation where I don't have to risk very much To see if I can make a dollar and I do that by watching 15 minute 30 minute an hourly charts and believe me I find a lot of them every day. Do I take them all? Absolutely not. I'm looking for three or four good ones And those are the ones that I would like to be looking at today now The only thing that I did differently today is that I didn't sell the 61 percent retracement up in the crude oil because I actually had fallen asleep at the at the Monitor here this morning because I was up very early this morning around 2 30 Working on a position in that crude oil that looked like it was going to be absolute perfect It sold right up to the 382 backed off a thousand dollars folks So, you know, you had a huge profit and it ended up Not being so much huge. So that's That's the way it goes. You can't you you can't think about the the trades that go by because those are over folks You got to look at the future and what's next and what's next is we've got a big buying opportunity coming in these grains And when we come up to the break here rich anders are going to be chatting with us We're going to go over some of these grain charts to let you folks take a look at it So I think we're making some new lows here somewhere And that is in the dow Jones. Yep. And also wow boy or boy you talk about a market that is under pressure folks This wheat market is flat out under pressure like you can't believe It's uh, how much is it down today? Oh my goodness down another 30 cents Shut the front door and raise the rent I'm going to bring this up to up to let you take a look at it Because we're going to be talking too rich about it in just a second and get me get up to the daily here because We're really breaking down good. Now. That's what I want to see. Hold on here Get this one up and we'll be ready to go Okay And okay, you can see it right here. We'll have rich on at the break here This will still start out talking about the wheat market so we can get a pretty good idea Of what it means stop and think folks. This was three dollars a bushel Higher just a little while ago. Are you kidding me? Shut the front door and raise the rent Well, let's move on here to the next one here and we'll see what's going on hold on one second And I'll get this up And uh, we'll be right back with rich anderson Anderson capital management If you want to take advantage of this sector now is the time to subscribe to my gold report The gold report is a comprehensive look at the metals sector as well as the markets that move gold Which is the currency and bond markets new subscribers get a 30-day money back guarantee So you have nothing to lose every monday morning I published the gold report with coverage of gold silver bonds the xa u hui gdx as well as more than 30 different mining equities To see for yourself the types of profitable trades that are recommended within the gold report Sign up now by visiting tfnn.com. Don't miss out on the next great gold trade sign up today Tfnn has just launched their new trading room the tiger's den hosted at discord Tfnn has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours And now they are expanding their reach with the tiger's den available to all tigers and tigeresses for just one dollar for the year There's no catch or added costs when you join our community of traders in the tiger's den You can look over the shoulders of tom o bryan and the other tfnn hosts while they analyze charts during their live Tiger tv programs and join an interactive trading community with hundreds of members exchanging ideas Interact with other tigers and tigeresses as they share trading ideas News analysis and discuss the market action all trading day even at night and on the weekends The tiger's den at discord is accessible on mobile or tablets as well So it's always at your reach to sign up today and become a part of this educational community of traders Just visit the front page of tfnn.com Tom o bryan has just announced a live timing the trade webinar friday june 10th from 9 a.m Until 2 p.m. Eastern time Join tom o bryan for five hours of live education as he teaches you his trading methodology Right from his best-selling book the art of timing the trade your ultimate trading mastery system in this live webinar Tom o bryan will be teaching you his entire trading system including quality volume abc structures Fibonacci confluence zones cause and effect swing points and more We will be limiting this class to 40 attendees So please do not delay and reserve your seat today for this special live event with tom o bryan All attendees will also receive a physical copy of his book the art of timing the trade an $88 value Mail to you along with the free month of his daily newsletter market insights a $169 value For all the details and reserve your seat today visit the front page of tfnn.com tfnn educating investors 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 Okay, we're back folks. We're talking with I believe rich anderson anderson capital management Rich, how you doing? Good morning larry Rich There's a bloodbath going over on the wheat market. What's going on over there, buddy? well, um You know, uh, remember when I was on And the olympics were about to end and I said rushward in february I certainly do remember gotta be reading between the lines what they But basically what they did is the russian signaled that In exchange for a relief of the economic sanctions they would allow free trading of The black sea free transport in the black black sea The problem is that uh, you can't trust them I mean when they were trying to evacuate people out of the maripole that keep lying But they released a a commerce telephone conversation between edaeron of turkey and pudin And that's what caused this break now that the funds have been getting out massively You know, they're down to mid december of last year's Of open access levels in the major yelk wheat corn beans in the products oil meal Yeah, they look at age 74,000 contracts last week. So this has been going on for some time if you look at the bear spread That they'll tell you that it's been going on But if you look at the cash market, you know, we might have gone down But cash wheat's trading 20 percent over the board Wow, it's not like you can buy that board price and get delivery Tell tell the folks what yeah Tell the folks what that means folks when uh, tell the folks what that means rich when it's More cash wheat is saying over the board. Do you want to tell them what that means? Well, the the actual end users that actually need that are willing to pay a whole lot more than the board price Uh, they need it now. Yeah, that's right. They need it now. You're right And and and yet Let's take let's take opening up the ports the ukranians in order to Ship anything out of the ports that they still hold mainly Odessa They'd have to get all the mines out of there Well, that would just allow the russians to be able to invade at any time. So that you know, they're not going to do that Supposedly I look for in between the lines Supposedly a ship left maripole, which the russians now control with a load of metal for russia today It could be propaganda. Who knows? I mean, you don't even know if these ports have electricity, you know the transportation to the ports Uh, ukraine has the first shipment Up wheat to romania It's being loaded To be shipped overseas. So it has to rail to romain mania and then load it onto boats It's it's making for a big mess Uh, the russians are doing fine because they've got the high oil price Even with all these sanctions, but it is pinching. So there's there's another thing Putin obviously is feeling the pressure because he made this, you know, conversation with erdogan and Then another thing that I saw was two legislators of the russian One of the russian meetings Challenged basically by saying, you know, this is this is hurting us badly. We need to stop this No one had And these are led to you know, these are People that are hold office. No one had been willing to challenge the president up to this time I thought that was significant I think that tells you that there's ground support To push back at Putin and that maybe he's losing his grip and he understands He's losing his grip But you know, even if this thing were over today, you know, you got all these minds to clear you got rails to fix You've got roads to fix Now on top of that down argentina the argentine farmers selling Their beans at about 25 slower than last year because they're afraid of inflation I mean, I have a friend who works in brazil They get quarterly cost of living increases in brazil. I mean, it's it's just crazy So we're going to have these high oil prices Keeper and and the crop the grain markets were Up on the other thing was getting the crops planted. Well, the crops are mostly getting planted And even in 2019 when we had trouble getting the crops planted and we ended up we didn't have as much acreage as we thought The market still sold off until we got the report on june 30th And then we really won't know what's been planted in india Russia and china until july or august so those are uncertainties So you've got to be careful let the markets flush and rinse And then see some kind of a setup And there will be another opportunity, but you don't stand in front of liquidation Don't try and catch a falling knife That's you know, I mean between the lines what I read out of russia and in turkey And what I know, you know what they say and what you can actually do are Two whole different things because you just don't turn the switch on and all of a sudden you're exporting grain out of the ukraine Yeah, well, that's one of the reasons why we're technicians rich That tells us whether the markets are going to go one direction or not So I posted a chart in here of a beautiful three drive pattern that we had over the weekend In the july soy beans. It's just absolutely perfectly symmetrical and the beans have broken well over 70 cents Almost a dollar a bushel actually in two days, which is a tremendous amount But I I'm with you rich I think you got to be looking for a place to buy these because This is just someone that has been over leveraged or wherever the funds might have to have happened You know if they have to start liquidating and once this liquidation is over You got to start looking for a place to you know, where the charts are telling you you have value that that's what I think I'm I think long term we're looking at inflation. It's going to last several years Just doesn't get over overnight. That's for sure Oh, absolutely. Absolutely. But you know take a look at the 2019 grain charts and And you know, we have corrections at this time of the year until you get verified acreage of this crop and that crop and and uh, you know, Minneapolis wheat Now I don't have any quotes right now because my wife's on uh, using all of our bandwidth for an investment meeting on a very large endowment But um In any case the Minneapolis wheat I heard had been down. Well, you know, that's one of the markets that I've watched very closely Because they you know, they've got issues and it I think it's going to be interesting, but You've got to let a week or two pass. You've got to let this market flush out calm down and then you Take your positions with intelligent risk Yeah, rich hobby. How big is the Minneapolis wheat market compared to Chicago board of trade? You know what the fractional it's nothing. It's nothing, you know There's like 20 guys that sit behind screens and they call that the floor It's it's not a bad but that but that's where the you know, that's one of the biggest opportunities I see I mean, this will be the lowest planting in North Dakota On record it looks like Yeah, I mean they you know Burke had a blizzard what a week and a half ago out north. Yeah Yeah It was 85 degrees in Denver the next day they had six inches of snow or something like that my daughter said I mean just crazy. Yeah, it's you know, that's This is uh, you know this and they grow wheat in uh, Colorado also So that's that's what's going on but the funds are just getting out and You know If you want to establish positions, you let the market settle down take a look at how it took you know weeks In 2019, you'll see kind of how they think shake out and then how they reappear again I don't think this thing is over but it's it's shaking a lot of people and if you're not controlling your risk Amen to that brother. Amen to that. Hey rich Anderson Anderson couple of men's but always good to talk to your rich Stay on the green side of the grass buddy You bet. Okay, we'll be right back folks eight seven seven nine two seven six six four eight 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 from the price You should be paying per square foot in certain up-and-coming areas to the type of cash flow Investment properties are capable of creating tiger real estate can help you make the best decision when it comes to all areas of the market Before you make one of the biggest decisions of your financial future call tiger real estate LLC today at 727-329-83222 Or email us at tiger at tfnn.com that's 727-329-83222 call us today The technology around us is changing every day with so much happening It can seem impossible to keep up with all the information David white's investment newsletter the technology insider is designed to give you all the information you need to understand the technology that shapes today's markets and tomorrow's future David white has made his living staying on a cutting edge of technology His weekly newsletter will give you specific recommendations for value tech stocks As well as entry prices target prices and stops to set for each trade Dave delivers his weekly newsletters every friday with updates throughout the week You can get the technology insider at tfnn.com for only 37 dollars and 50 cents Sign up for david's newsletter the technology insider and get an inside look at everything the technology sector has to offer Try it risk-free today with our 30-day money back guarantee tfnn educating investors Are china a shares hot or not if you trade china a shares now may be time to take a closer look trade chau or chad Directions daily csi 300 china a share bull and bear etf's china a shares in either direction Visit direction investments.com today an investor should consider the investment objectives risks charges and expenses of the direction shares carefully before investing The prospectus and summary prospectus contain this and other information about direction shares to obtain a prospectus or summary prospectus Please contact direction shares at eight six six four seven six seven five two three The prospectus or summary prospectus should be read carefully before investing an investment in the funds is subject to risk Including the possible loss of principal the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor four side fund services llc This program is brought to you by vista gold traded on the nyse american and tsx under the symbol vgz All right, folks. We're back We're going to have is our guest tomorrow stan harley of the harley stock market letter will be our guest on thursday And on friday. Oh dear shame man the wolf trader will be on and Folks i've seen people on fire in these markets before but this boy is uh, he's in the zone He's done a fabulous job short bonds short stocks. I mean he's just uh Just been really just doing great. So he's going to be our guest uh on friday I posted the chart here of the soybean market. That's a perfect a bcd folks in time and price Number bars up number bars up. You can see the three drive pattern And that's why i'm a technician folks, you know, I call rich to give us an explanation of what the heck's going on Uh, but frankly, you know, it doesn't make any difference You have to trade what the charts are telling you to do and that's what I try to do You remember just two three weeks ago three weeks ago We had wheat trading limit up at thirteen dollars a bushel Now it's ten dollars a bushel and you can't find anybody that wants to buy it Hello operator. There's something wrong with this picture You know, this is why you know pattern recognition swing trading gives you some slight advantage now. Is it Uh an unbeatable advantage, of course not we lose all the time But the thing is we go right on to the next trade And that's what we're waiting for us to see which patterns are going to work and which patterns aren't that's what it's all about You're not going to be right a hundred percent of the time One of the greatest frustrations in life and one of the absolute tony robbins talks about this One of the keys to absolute discouragement and failure is to try to please everybody That is not going to happen folks So you've seen that in your family or whatever you want to look at. I mean, that's just not going to happen So you've got to be able to you know, find your niche in life. Whatever it happens to be whatever pattern it is or methodology, you know, moving averages work Uh, stochastics will work if you use them in conjunction with risk control all of that stuff will work You just got to find one that you feel comfortable with and that's what uh, that's what you're looking at Now I said yesterday that I'll be watching these grains very closely, you know for a potential buy But you know, we're uh after the big down move yesterday, you know I have to wait Let me just show you folks just to give you a rough idea of how How big a break we've had in this wheat market now just get this up here So you can see it here. You'll be able to see it easy enough there. You'll see it right there this happens to be a 15 minute I know it's a four hour chart You can see here about a bing here was limit up limit up limit up limit up And then look at this down down down little three eight two rally right here As you can see, there's your first three eight two rally right there There's your second three eight two rally right there And here's where we're headed folks down about another 40 or 50 cents in the wheat before it finally reaches some type of uh A bottom from a technical standpoint by then maybe the cash wheat in chicago Selling it a discount to the futures But it already is because the futures are behind the market because the cash wheat people still need that When you want to start making bread you've got to have the wheat and if it's not there You've got to pay up for it. Okay. Now. Let's go over a couple other of these This is a this is going to be a guardly here and it's it's very close because we just broke the 77 level Let's get the chart up first layer so everybody can take a look at it. This is soybean oil Lot of affinity for this contract folks because that's the one that Got me back in the game back in 1975 This was the type of pattern that we had in 1975 folks I had not traded for a year all I did was study the guardly book And all other kind of charts just find out what I could use and I said, ah, this is what I like abcd Setting at either a 61 percent retracement or a three eight two or seven eight six Give me those abcds all day long and I'll take them So I would be buying there and then I sold them on the d-point that went up But here's where we are right now. You'll see the level we're looking at here is around 75 and change We're 76 60 or 70 when I checked just a little while ago So we're about a penny away Which is close enough But you want to wait till it gets to that level and then if you buy it you risk one cent in oil Which is $600 and then you'll be able to You don't get back on the game plan because I really believe folks that we're going to see $20 soybeans for the first time in our lifetime this year because we need a bumper crop just like rich was saying Just to stay even in the world and anything that gets bad here from the united states because we export so much Is going to be a mini disaster for the rest of the world That's where hunger and all this other stuff comes from and that's not good You know, that's the main thing so but there's a profits to be made and okay You'll think well you're being you know, you're basically taking money away from the the poor people No folks when you're doing this I'm acting as an insurance broker That allows people to hedge whatever I did if I buy something the part the farmer puts on a cell hedge So that I'm acting like an insurance broker and if I sell it he puts on a buy hedge So that's what it's all about. It's nothing about being you know, if you want to be philanthropic You know give it to your church or whatever you want to but This is a business of making money and and when you're doing this speculation is a way Of mitigating risk in other words spreading the risk over a whole bunch of areas And that's that's what you're doing. You're intelligent risk speculator. That's what I like to refer myself as But that's what I am actually now. Let's take a look here This happens to be the new crop soybeans I want to show you this because this is this this is totally different than a july soybean chart That had the three drive to a top the july soybeans were the ones are In the market right now, but you'll notice on this one right here We had a little bit of a butterfly pattern up in here Barely made a new hide and you can see we backed off well over 70 cents. We're still dropping So what we're waiting for now Is to see what the next uh Next support's going to be along with the pattern that matches up Well, it's only one day into this folks. You certainly can't uh, you can't draw any conclusions on that Now one of the one of the things that we did on the air last friday when I was on was we were watching A soybean meal the the beeper went off at that time because that's when I I had to go to the uh other machine Sneak over there put the order in but you'll notice here when you're looking at the soybeans We were right there folks at 434 the high was 436 a two dollar risk and it's already made well over two thousand dollars in one day So that's what pattern recognition can do if you believe in it and that's a 382 and it hit it twice So, uh, that's neither here to that the problem is if you sold it you had to hold it over the weekend and of course it opened unchanged on uh sunday uh tuesday night when it opened and uh Like that would be monday night when it opened and of course it traded all the way into tuesday So that's it. So that's what we're watching there uh in the soybean meal We'd like to see some more of the correction as we get closer to it. I'm going to issue a special report You know showing what I think are the best and best possible trades with the setups that we're looking at You can't be long all of them folks you got a picky their wheat corn beans oil meal, whichever one you want to pick And uh, you can do it, but if you realize that then you've got to spread your risk over each of these and not You know if you're going to make a big play that's what you're going to have to do for sure But for speculation purposes you want to pick one because if your long corn and wheat and beans One of them is going to work better than the other and you've got to try to pick the one that you think will be the best so That's what our job is is to find out which one you think is the best. How do you find that out? Buy the strongest sell the weakness That's what they say in the old textbooks and believe it or not folks the textbooks are correct. Hold on one second here Sharpening your skills as an investor is like getting better at playing a musical instrument You have to practice sure, but you also need excellent instruction from experts at tfnn You'll get advice and guidance from the authority and technical market analysis And it's not just dry tedious text either tfnn airs live financial content streamed live on tfnn.com and tfnn's youtube channel with tiger tv Live every market day from 8 30 a.m. To 4 p.m. Eastern for free Each host is an experienced trader 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 You might think that if you want to be successful at trading in the stock market You're going to need a crystal ball after all it's impossible to predict the future, right? 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I don't know how he got through mike. How you doing? Yeah, I have a secret code larry. I got through through that I'm looking at this cornmeal chart and it looks like from the low on mid-may up to the high of Yesterday or the day before It's made a 618 retracement of that move just now. Am I reading this correctly? Yes, you're absolutely correct It stopped exactly at the 61 percent retracement what you have to wait for now because that 382 was so powerful You know, we could if I if you were in that trade, you're up well over $2,500 so you want to book some of that? And let's say let's see only did one contract what you have to do is you've got to cover The one contract here and then hope that you get a little 382 retracement off of this last range here To get back in and maybe you miss it. Maybe you have to sell a little bit lower When you're risking $300 and the market gives you two grand mike, you know, that's a 7 to 1 risk-reward ratio And those are dream trades. So you've got to book some profits Yeah, it's really nice. So so you're saying that you want to wait for it to come lower or Come down when I six one away. I had myself This is what we were looking at here for last friday. We were watching this pattern Well, I was risking originally $400 now. I've made seven almost seven times that So I'm willing to book that and put that in the bank because you know You don't get that type of risk-reward in two days at all Yes, okay, you know, I mean look at look at the euro if you did the euro Which is basically the exact same pattern the euro is up almost two grand already You can see how quickly when these patterns work, you know, they give you certain amounts of money But, you know, you you're never going to get the absolute low tick or absolute high tick mike So once that trade is over move on to the next horse and you know hop on and write it to the best you can because You don't know what's going to happen next. You're never going to know that Okay, I'm looking at getting into this On the long side and you can just waiting here Yes, you're certainly want to rate the the main reason for waiting now Is it the first of all the very signs of 3-2 now you've come down to the 6-1-8 But we did it in a matter of a one day That's a lot of selling Mike. So you've got to be patient. Okay. Okay. Thank you. Larry more to follow There'll be a video coming on in a day or so. So hang in there, buddy Thank you. Larry. I know tomorrow folks. Stan Harley will be my guest