 Sign up today and become a part of this educational community of traders. Just visit the front page of TFNN.com The following is a presentation of TFNN Trade what you see With Larry Pezzavento All 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 welcome to the show TFNN From the offices of 100 South Broad Street Duke and Duke folks There is trouble in River City if you remember the movie when they were in the Loat where all the lawyers were together and they were talking about things about how honest they had to be and they slipped a $50 bills into Dimecroy's pocket to you know get him to You know be a crook. Anyway, what happened was We have a small situation like that right now folks. I think they're trying to hide from us I posted a chart up here of the NASDAQ folks over the last week or so Okay, now you think that's important. You can see here. We have lower tops and markets breaking But even more important, I want to show you the next chart. I'm probably a hundred percent wrong on this I'm usually 80% wrong. This might even be might even take my record away, but here's the NASDAQ You'll see here. We made a high of the 382 from December of 2021 Okay, that was two and a half years ago. We've made it take it's taken Six months to make a 382 each race and look how the market's rolling over to the downside That this is this is extremely bearish in my opinion I'll go I'm going to take it one step farther because you know, I'm a I'm a short-term trader I like to look at places that look where you can get in without You know breaking a leg or something like that But if you take a look now, this is what it's done over the past nine trading seven trading days Let me get it up here So you can take a look at I'm just giving you my trainer thought and if you disagree with me I would love for you to call in and you know, tell me why I'm wrong and maybe I am maybe I'm not But anyway, you can see here. What's happening over just the last few days Okay, now with the with the markets rallying really strongly today on good data, whatever it was I don't know what it was. I'm just going to bring this up here This is just the last two days of the NASDAQ and I'm going to get it up here And I always talk about that little magical number back there. Yes, Johnny. I see your plaque is up there He's waving the 382 plaque. I've got it around here somewhere. Anyway, there's what it's in your yesterday's right there There was your high. Okay from the high we made two days ago today's high was an exact 382 Okay, it was also 382 of the previous day. So sometimes not right I don't know what it is, but maybe this will all turn around today and everything will be good But that's not what I'm seeing right now. I hope that helps you a little bit But that's my opinion of what we're looking at and of course I happen to be On the short side of this so we'll find out whether it's going to do anything or not But you know these other markets are acting really good. Look at look at here is the e-mini S&P There's nothing wrong with this chart and of course remember the Nasdaq is not that big of a deal for the stock market That's only a well 100 stocks, but it's still, you know 20% of those is covered by 10 stocks. So you can see here we had that 78% retracement up here in the S&P But remember when this is doing this we got the Nasdaq way down here that that's very unusual folks And the Nasdaq was the leader of this thing, you know all the way down and I'm thinking well Maybe if this thing lightens up here, maybe that's what's going to cause the market to break I don't know I'd appreciate any call a phone calls to tell me whether I'm right or wrong And we won't know that for quite a while. Also, we were kind enough to get a really neat-looking chart here from the This is from the Fed. I wanted to get this up here to show you what they're looking for because we've got a big GDP number coming in tomorrow and What that this is the Atlanta Fed and they're usually pretty good with those statistics, but they're expecting This is the estimated guess of what it is and this is what the other people are looking for So one of these one of the public is either wrong and the Fed is right so the Fed is saying things are okay, it looks like it's going up and People that are watching it saying not so sure not so sure But look at that look at that divergence there folks I mean that that in that in itself would scare the bejeebies out of me That means something big is out there by the way I don't you talk about you know names that mean things you know how they have a covey a quail and a herd of cattle and What's your flock of sheep? Okay, do you know what is when you get what they call a group of swans black swans that come together what it's called It's called a bank You can't make it up Anyway, I don't know what that means anything and since we're talking about banks Let's just take a look to see how our regional banks are doing on the Nasdaq and course we'll get this up here to show you here and You'll see here that the regional banks have shown no sign Any type of a rally we had a little bit of a rally today, but whether it does anything from that level or not You know, I'm not really sure So let's keep you let's keep a keep a keep a close eye on that one Now I want to give you something from a technical mental part of this game As you know, we went long soybeans the other day at a very nice price I want to get these up here on the bottom here and hold on second and let me get it up here So everybody can see it everybody mostly knows we've been bullish this and we got up here today This is a very nice We're in the third fourth day of the rally and it's setting right at a three eight two to sixty one percent retracement And so I told the folks I said, you know, this is a heck of a run It's just in the beginning of the season This is not a you know weather market yet or anything like that and maybe it goes straight up I said but you know when you buy way down here at 392 and you're setting up there at 440 in three days I said those things don't come along very often and the fact that we're setting right at those numbers I decided that you have your choice either put your stop just like a five cent trailing stop or just get out of dodge and Take your profits. Well, it went higher. We were looking at 37 437 in the july and we've been up to 444 And I have Pleaf in and on folks I had several people asking me, you know, aren't you upset that you missed this last seven cents? Folks if you start thinking that way go over to McDonald's and get a job flipping burgers because this is You got to take some profit somewhere. Hey, listen, you know, I do a two o'clock show For a tf&n from the place of someone who has passed away david white and he's just saying I love this thing Sell when you want to Not when you have to and that's what I'm doing, you know, you're big. Hey, look, there's always going to be another Train coming through there's no question about it, you know So I just do one thing at a time and I'm not going to get the highs I'm not going to get the lows all I want is a little piece in the middle And that's really what you want to be watching. So those are the things that Oh, I think I'm hearing a ding here. We've got larry from wyoming on the line larry. How are you doing? I'm okay. How you doing larry still living the dream baby on the green side of the grass What can I do for you my friend? Yeah, I just saw the movie the family with robert denaro I just was cracking up over that film you got to see it We got to pay a few bills here and we come back we'll talk about natural gas, okay Okay, all right. We back folks eight seven seven nine two seven six six four eight So Currencies commodities and bond markets are as important as ever right now with how they're driving the volatility in equity markets across the globe Which is why it's a great time to try out teddy keg stats tiger forex report Teddy keg stat breaks down the forex markets every monday using his 30 plus years of experience as a trading veteran of futures Forex stocks and options Teddy releases his weekly tiger forex report every monday morning with coverage of all the major currency pairs Including the dollar index the euro dollar pound dollar Dollar swiss dollar yen as well as many more and he also has weekly coverage of the crude oil market and the 30 year t bonds As they both influence forex markets tremendously when you sign up for the tiger forex report You also gain instant access to teddy's 60 minute webinar archive He just hosted forex strategies and fundamentals What is behind the tiger forex report for all the details and to start your 30 day tiger forex report subscription today Visit the front page of tfnn.com tfnn 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 Are you looking for a way to consistently add winning trades to your portfolio? Tom O'Brien is here to help Tom O'Brien has been successfully trading markets for over 30 years A frequent contributor to TD Ameritrade Network and CNBC Tom O'Brien founded tfnn over 20 years ago to help educate investors just like you Tom's daily market newsletter market insights is published every morning when the market's open to give you the competitive informational edge you need to succeed These newsletters are packed full of tom's advanced technical analysis and are geared to deliver comprehensive strategies for a successful portfolio Get Tom O'Brien's newsletter market insights today and try all of our products and newsletters 30 days risk-free With our money back guarantee at tfnn.com tfnn educating investors free at 1-877-927-6648 internationally at 727-873-7618 Back folks we're talking with larry up in Wyoming larry. What are you saying my friend? What do you like today? Well, I um, I don't know if it's good news natural gas if you want to go long natural gas increased Open interest futures by 7300 and it's going down That means there's more sellers And the market is still bearish, okay Because if you're right that means that the shorts are in control But why posted a chart? Because I think we're this goes it's a 4r chart that goes back quite a ways About six weeks, but we've got a beautiful Three drive to a bottom pattern coming in about 10 or 15 Uh 10 to 15 points lower right around the 206 level I think we're trading at 207 right now but 206 Is the triple numbers coming together there one from a long term weekly And remember the all-time low is like 195 and the secondary low is like 203 So at 206, you know, you put your stop under, you know, 190 and you're only risking, you know 15 points and if that thing's right Just a 382 retracement would be like seven handles on your money. So that's what I'm looking at In the natural gas so wait for 206 my friend from your experience at the end of a move Do these uh futures traders pull will they pull off will you see a spike in Negative will they reverse quickly at low levels like this rapidly? No, it depends, you know Because you know if you're in control, you know, look at the to give me an example You can see that big chart on the way down I mean open interest was increasing all the way So the shorts were just you know given everything that the bulls wanted and they took it and it down it went And then as they start to sell out that pushes the price is lower So when you're watching the open interest, which is a good thing when you're there You want see open interest increasing because the the bearish people are getting more bearish Okay, that would be the opposite if you turn it upside down And that's how we usually understand it if people are really bullish and everybody's in there The market's not going to turn. Well, it's just the opposite When you're doing it's just the opposite, you know, you got to think it's like oh everybody's really bearish Hmm maybe I can remember back in I think that makes sense. That makes sense I can remember in 2007. Okay. I was helping a hedge fund get started And they they were interested and they had like 20 million dollars And I told them to put five percent of it into McDonald's. It was trading for 11 And I said put a stop at nine and a half And that was you know about 12 percent. So I said you're gonna lose 12 percent if you're wrong on this I said but if you're right, I said you're gonna hit a big home run and they bought it It never went more than a half a dollar lower and you know McDonald went into the hundreds over the next, you know 15 years So I I'm not saying this is the kind of trade, but you know, it's when everybody's bearish is when you got into it You know what I mean Yeah, that's interesting. Okay. So the shorts might be showing because I looked a few days ago and it was The open interest was down one thousand. So I said, oh Open interest is contracting in a down market. That's bullish. Yes, it is But today it was up seven thousand and it's going down. So they might be getting overly confident Yeah, that's right. You see you this you got a number of seven versus a number of one You can see there are a lot more sellers coming in and that's why the prices are dropping But you know the good part about larry if you're looking at this, they're not cascading down They're going down very slowly. Yes, you know, I watch it every I'm watching it too much. Yeah, I see that So you're saying so what that tells you is for every drop there's a buyer. There's buyers everywhere That's correct. Absolutely. I want to tell you a funny story from my Drexel days One of my favorite my he was like a father to me and I'm you loved him dearly was uh Oh Hold on just a second. If you ever watch the movie or watch the series What was I think dog dog on a call? When I started thinking of him, he's sitting right here in front of me. Anyway, I was uh, tag Andrews of You know the what was I don't I can't remember the series will come to me And but tag was in my office every day before he went on location and stuff and we became very close friends and he Anyway, the story was I was talking to a guy on the phone just like I am to you And I had a position on in gold or something and it was going down and and I told him just like I'm telling you I said, yeah, but it's not going down very much I said, you know, we gotta stay in here because it could turn at any time and and tag took a piece of paper off my desk And he wrote s Lbs and he turned it around upside down so that I could read it and I said, what the hell is slbs And I said just a minute just a minute larry and I learned what do you tag? What do you mean? He said tell him He's still losing, but slowly I wish I'd have kept that piece of paper over the years But I'm waiting for I'm waiting for 206 in this my friend. So if he gets there, you'd be sure to call in I will I appreciate you. Thank you larry. You bet larry. Thank you very much I'll come up there and help you do some rodeo stuff. You you knew I was a champion rodeo rodeo writer, right? You know, I'll I'll try to put on some leg braces and do it with you Just like I'm a professional golfer. Okay. Thanks for joining us pal. I really appreciate it. Okay, let's move on To the next one here that I wanted to cover. We've got a bunch of stuff I'll put that now. I'll put the the long-term chart up here for the For the natural gas here because we are getting really close But like larry said with open interest increasing prices going down. That's a bearish phenomenon So if we look at this now on the long-term picture, there's you know, we can bought it that 1.618 at 287 We were out at 276 and now what we're looking for I'll get that other pattern up because this is one That's really focused on I did a complete video on this to You know to tell the folks you get ready because it's going to be any day now And if we get this up again We'll walk through it and then when we come if you have any questions, of course, you know Call me back and they're calling to the show and I'll try to answer them But as you can see here, we are setting right there. We need to go right there Now that's not a lot because you're you're only talking if about oh 15 1600 dollars if you get down to this level Okay, you've got a really good place to watch it if we get a really good Decrease an open interest down in here as they start to come down That means the shorts are lightening up and that's when the market will have its big turn. We saw this in bonds We've seen it in gold. We've seen it in crude oil You know, all I do is when we're getting ready to hit a major point I start watching the open interest just like Larry was doing one day It's a thousand next day at 7000 and maybe it'll be 22,000 someday because that means a huge player came in To make a bet or what we call an intelligent risk speculation Then that's pretty much, uh, you know what we're looking at By the way, on the gambling note remember Shane's million really liked the, uh Miami hurricanes to win the nc double a Okay, and because of an astrological alignment for the University of Miami So if you want to put five dollars You can get back. Are you ready for this 25 dollars a five to one payoff So that's a heck of a payoff. So for five bucks, you get back 25 this old cowboys putting 10 in I really like this one I I think I like the way these these all these kids play. They're so exciting to watch and all the games will be good So my 10 bucks is going on the Miami hurricanes and believe me folks the last time I want to bet on sports was, uh Who did I bet on it was a 1953 world series? And I remember I lost it must have been the Yankees Actually, it was a Cleveland Indians. I think no 54 was a Cleveland Indians. We're going to take a break here boys and girls We'll be right back 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 metal 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 xiu Gdx as well as more than 30 different mining equities To seep 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. 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I'm joking about that But you know when I mentioned about taking profits and uh soybean they are now 10 cents higher That would have been another 500 but my assumption was That we've had one heck of a move over four days. We're right near the 61 percent retracement. We're now above it by about four cents and All I'm saying is that you got to be really careful here And so I am just going to be a little more careful Now if you remember just the other day I posted this chart here last thursday. This is the one on the Hog market doing the same thing. This is the same kind of pattern that we're looking at for the nasdaq Excuse me for the natural gas This one was absolutely perfect because you can see here. You have a beautiful abcd pattern here And perfect down here people ask me the question. Why aren't all of them perfect? Well, I don't know the answer to that But uh, I've thought about that a lot. All I knew is I know it's pretty good Now when you're looking at this this one happens to be perfect because from your High to your low Was the same number of days as your high to the low? That's a very strong indication. Yep That's probably it and the price come together at the same time right here So that's ab equals cd and price and time I mean, I don't see the boys with the le wave ever talking about something like that But that's the harmonic that's actually there. It's the abcd. You don't have to worry about whether it's a 123 at four five six seven eight nine. Just look at the abcd This is what mandelbrot said And that was you know, everything is related to these fractals and he was a father of fractals So let's make sure we take a look at that. All right now We've had a pretty good rallying it but the problem is now We've got a we've got a crop report coming in hogs. I believe on friday See the thursday or friday and there's going to be a report coming out I'm going to tell you a story that I think you'll like byron tucker when I first met him in january of 1982 And he's been my very best friend ever since he was there Running the office for goldman sacks and also delcher they worked together and uh Delcher was a big supporter of del uh goldman sacks and vice versa And uh delcher of course was leo malamud who was the president of the exchange And he he held all the marbles. Let's put it that way. Anyway, he had a He wanted he gave byron an order to buy 50 t bills And so byron said, yeah, but we've got a report coming out in about 15 minutes He says it doesn't make any difference the market's going up. He says, how do you know that? He says it's bullish He said, okay, so he went in the short after report was very very bad The t bills opened slightly lower and just went crazy to the upside And so byron started to ask, you know, I happened to be there in that part of this conversation And he said how and the heck did you know? He said All I know is when I looked at it that looked like it was going up And I was hoping it might be very sure I could buy it cheaper And he said really there's no mystery to it other than that He said I haven't been seeing these things for such a long time that that's that's all I That's all I do and so anyway, those are some of the things that happens I wanted to bring another one up that we've been watching for quite some time And it's actually beginning to look like it's getting ready to turn And I'm not so sure we had a nice big profit in this at one time Ended up being out with a very slow profit, but you can see here We well, we had this we were so selling it up here at this level And of course we covered it when we got down to the 382 And then it went sideways, but it couldn't go down very much And gold is actually backed backed up above the 970 level too So that's another one that we want to really keep a close eye on because if this thing can't get any lower Then what we've just done in the goal, but you got the stocks are just not they're acting very poorly folks This nasdaq. I mean I I just don't know why why people don't talk about this This is this was the the one that ran the whole gamilla And and we are we're look at this. This is incredibly weak You're talking about the the big daddy rabbits, you know the google The which is the amazon all those stocks meta meta forester facebook whatever it was All that stuff is it in that nasdaq 100 and boy, that's a really negative chart Well, you know, you might might say well, this is making just a nice abcd down here that could turn the market And that's absolutely correct Because if this is a fact abcd and we get down here just a little let's do this together This might be interesting just to do together. Let's do that folks since no one's asking any questions I can get some work done on time and I'll get up here to take a quick look at it And uh, okay, let's get to the old nq which is right there Let's do a uh one hour and 20 minutes. Let's do a four hour chart on this And see where the pedal meets the metal and oh my goodness It's coming true. We're going to be taking a look at it right here All right. Just give me one second here to do the work. Well, you can see what I'm watching at Let's do it. Let's do it together. You know what the heck People never asked me anything here. So I'm just going to do it the way I want to do it. How's that? Worst they can do is fire me and they're not going to do that because I love them as much as they love me Okay, here's the nasdaq. You can see the nice little double bottom here abcd take out the bottom by a little bit then it ratchets up There's a 382 382 goes up here. Now look here. You see how we're making three lower highs. That's a 135 pattern Okay, now this is when the s and p got up to a 40 60 level now look at that See where the abc is going to come down in here somewhere. You see where that little dot red dot is right here Bubba, you see that red dot there's where the game is going to be played today right there. So let's do this together and hold on And see if I can do it without any trouble at all what I'm going to do is I'm going to blow it up So we all can see it real nice and clear That's down. Oh boy, this is going to be interesting. I'm going to type this in because I should be if I weren't doing a show I'd be sending this thing out Right now. So we're going to put it in at one two six. Oh, oh, we're only 60 handles away Oh boy, man alive if this thing doesn't hold 126 Shut the front door and raise the rent because then it's going to be really bad. Hold on a second get this ready here God, can you believe this folks? I've been doing this for 62 years And I love it the same as I did The first day I ever did it and by golly I'll tell you I have been very very lucky now. All I got to do is find that chart that I just made Operator operator Please be fair I see there's something in the air. Oh, no, no, no It didn't come through Oh shucks. Hold on. I'm going to do it again. It'll be here waiting for me. So Oh, I'm going to do it this way. Okay. Here we go Alrighty Oh, that's not going to work. That's not going to work just a minute here Gotta do it the other way. This is really important boys and girls I mean really super important Ah, here it is. Okay now what I've done now get this up here so you boys and girls can see it Hold on There we go Okay. All right This could be the thing that makes the market go up You got an a b cd Coming in right here at 12,600. We're 12,600 And six 12,600 so 600 more points Right here Is where you want to be watching because if this fails The old proverbial pudding will hit the fan But that's an a bcd and a 3a2 and we got to be ready So I'm going to be putting some limit-minders in Live every day in an attitude of gratitude and may god bless You might think that if you want to be successful at trading in the stock market You're going to need a crystal ball. After all it's impossible to predict the future, right? Like any endeavor in life before you decide it's impossible get some advice from the experts You might find that it's not so impossible after all for daily market Overviews that give you direction on the key indices selective stocks and commodities Subscribe to the opening call newsletter at tfnn.com The opening call newsletter is written by basil Chapman creator of the trading methodology known as the Chapman wave The Chapman wave up-down sequence gives you an edge in identifying price turns Finding the peaks and valleys and stock prices get the opening call newsletter by basil Chapman and your inbox every day First-time subscribers also get a 30-day money back guarantee if you're not satisfied Let us know and you'll get a full refund within 30 days of signing up tfnn.com educating investors Are you looking for a way to consistently add winning trades to your portfolio? Tom O'Brien is here to help Tom O'Brien has been successfully trading markets for over 30 years A frequent contributor to TD Ameritrade Network and CNBC Tom O'Brien founded tfnn over 20 years ago to help educate investors just like you Tom's daily market newsletter market insights is published every morning when the market's open to give you the competitive informational edge you need to succeed These newsletters are packed full of tom's advanced technical analysis and are geared to deliver comprehensive strategies for a successful portfolio Get Tom O'Brien's newsletter market insights today and try all of our products and newsletters 30 days risk-free With our money back guarantee at tfnn.com tfnn educating investors Biotech is booming But for how long whether you think the biotech bull has room to run or has run its course trade labu or labd Directions daily s and p biotech three times bull and bear ETFs Visit direction investments.com slash biotech 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 866-476-7523 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 nysc american and tsx under the symbol vgz Bear with me here for one second and as soon as I find this puppy. There it is. Okay. I want you to follow my trade of thought now folks We're gonna i'm gonna relate to what's happening with the nasdaq At 12,000 even it's trading at 12,006 fives even right now 500 points away And what we're gonna do now is we're going to take a look at guess what we're gonna look At the same pattern that we're seeing and we're gonna find out Where the game is going to be played today. So there's where we are right now. There's where the 786 was That's where we shorted it up there at that 40 30 level when we got up here now. We're down here To this level right here. You see we're at the 50 now. There's 618. There's 786 Well, when we get to that number in the nasdaq, which has been leading the parade if it does get there to I don't think it'll get there today because that's another 500 points So we might even get a bounce in here somewhere But you can see the difference is what i'm trying to Trying to talk about is fact that the nasdaq is the leader on the way up He was a leader on the way down and it's just made a 382 retracement of the move from the high of december Of 19 of 2021 Two years ago. It's only made it to the 382 retracement. Nobody's talking about that Other than me and one other person and can't trust him at all. He lives over in the uk Anyway, well almost uk. Anyway, that's that's what i'm seeing here. That's the possibility that we could be looking at So anytime anything could come up if fed could come in and turn the market just like a whiz whatever That i don't know but right now it's acting relatively uh poorly, you know, we're uh We're going to see, you know, what happens to it, but it's certainly, you know, not doing too good right now. I just See the low from just a couple days ago Now we've already taken that out. So we're going to see how this thing moves Okay, let's move on here to the treasury bonds Because you know, they're a big tip off to what's going on in the market sometimes So we're going to get that on the hourly four-hour chart just to see where you are I've got to take some of these out of here. I've got a lot of lines in here because I leave my interday lines on because they uh, they line up pretty good, but uh Here is the treasury bond and I hope this will come out really good And it will Okay, now folks, we bought at that 382 right down here. Remember we had this big three drive This is where the market made the bottom right here. We came down stopped here We bought here We took the position off right here because we were trying to Make a lot. We ended up making a point, but we left two points on the table Now here's the possibility that we could be looking at This could be a very large a b c d of there's Time out somebody's somebody's at the door. That's my alert mind are going off. So That means something moved dramatically and it's probably more soybeans I actually know it's dow Jones giving up a little bit of money here But that's uh, well, I don't want to see the dow the dow is really tough because you're only looking at a few stocks So I don't I don't worry too much about that one Let me turn it off here, but I got to find out what that number is Sorry folks Let me do this We're going to do this together because I need to do it or might as well do it now to see where we are here In the dow Jones because the dow is you know still way up in the stratosphere From where we were but if you look at it now From the high we made yesterday. Oopsie daisy. It's not too good. Let's just draw it up here We're probably not even at the 382 are we know the 382 on the dow is down another Uh 80 points. So I'll put this up here so you can see we start breaking there because the dow It's been the one that's been going up and unfortunately that's only 30 stocks and of that 30 10 of them run the whole thing So let's move over here And take a look at this one I hope this is not confusing for everybody, but I don't hear anything from everybody. There's probably nobody listening So that's not a problem. Anyway, there's there's the 382. You see the we got the s and p is Already below the 50 percent The nasdaq is making lower is below here So there's something wrong So whether the this is fooling everybody, I don't know But we can do it when you can do it with sick with about 15 stocks Good luck. You know, I'm just saying that's what we're watching here. So I hope that Makes a little sense. Let me get down here to see what's going on here And dial vertical. Okay got everything hooked up together All right now one other question that someone asked me about was a stock of bank of america Firmly owned by a p ginati. He was the man who started it in 1906 in san francisco And my grandfather moved here at night great grandfather great grandfather moved here in great grandfather moved here in 19 26 and he bought some stock in that unfortunately he held it all the way through the Uh, the crash he didn't have much stock. He had like 50 shares but it stated like very very low price for a long time and then he finally got his money back but He his main thing was making salami cheese And whiskey and or grappa, which is italian corn whiskey and that's how he that's how he kept the Family going for all those years and as you can see here at bank of america we had a big blow here yesterday and This is another one. I mean, how can anybody be bullish? On this stock. I mean, well, you're you this would be the time to buy it because you're at some major expansion so This is if the market turns and it certainly can And you can see that by watching the nasdaq and the others if the market turns there These are the laggards. Okay the banking index and the tech index are the laggards If that turns you can imagine what's going to happen to the market You know, you hope you understand what I'm looking at because I'm bearish You know and that's it in the book of Roy Longstreet the viewpoints of a commodity trader He's got a he's got a saying in there that it's really true for all traders I'm running scared and loving it and you know who took that those boys that did get smart don not Don Adams and uh, oh, what's that guy's name? That was the brains behind the whole outfit. I'll think of it just a second But I played poker with don Adams. Oh god So many times we had a regular game the third thursday of every month and nobody ever missed it, but He was the one that uh that said that I don't know But the saying is no matter what you're in you you like your position But you're running scared and that's what you want to be doing because if you're running too confident Uh-oh, uh-oh That's when the pedal meets the metal and you run into a whole lot of problems So, uh, just keep that in mind as you're looking at some of these things today because uh, it's quite Quite interesting. Anyway Okay, someone asked a question about the natural gas. It's not ready yet folks Uh, we're let's bring it up to daily here and we'll take a quick look at it And uh, I'll be doing another show today Boy, does this time go fine? You know if you guys would call in it would make my job a whole lot easier You know what I mean? It really would and uh, I'll do it as long as you guys start calling in if you stop calling in You can say goodbye because I Like to have people asking me questions and that's what I like to see So here's what we are looking at If they said you see it's we're making new lows almost as we speak i'll blow it up Because we can see it a little bit better here And all I got to do now is to put it into the file And move it over here And then I just got to find it. We're going to talk about the natural gas When we get 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. 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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 and your inbox every day First time subscribers also get a 30-day money back guarantee If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up tfnn.com educating investors Everything in the universe is governed by the fibonacci sequence This mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market To stay on top of stock patterns you can take advantage of sign up for the fibonacci 24 7 newsletter at tfnn.com When you subscribe you'll get a weekly report from veteran day trader larry pesavento on stocks You need to pay attention to and you can trust larry's analysis after all He's got 45 years experience as a day trader larry will also provide daily charts videos and data on the key markets that he's tracking Expect notifications from larry on market movement. 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He was a good friend of mine Three dog night folks and we've got Jeremiah from arizona on the line. How are you doing my friend? I'm doing really good. Thank you for taking my call sir You you're very lucky. There were 10 people ahead of you and you were just squeezed in so what can I do for you? Well, sir, you know, I'm just I've been trying this for a couple years. I have no prior experience doing this stuff and you know, Mike I was just wondering if there's any Words with them you could help put me in the right direction. I watch a couple of your videos And I am all about, you know the gan style You know, even after a lot of everything it just really really fascinates me and I love trading And I want to be the best trader that I can possibly be Okay, I'm going to give you three words of advice. Okay Are you ready? Never give up Never give up Never give up that was a speech that Winston Churchill Gave to the west minister college 1938 when they're getting ready to go to war They were already at war with the nazis in world war two and that's what he said So you live by that you're going to go through a lot of trials and tribulations. I You you found the gan and Fibonacci stuff your second year your way ahead of me It took me 10 or 11 years, but have you ever read my book trade what you see? I just purchased that book. It is Going to be here in a few days. I just found you online about three days ago when I when I started looking into uh You know, I I I kind of did the typical thing where you start trading and then you try like 50 different things And then you switch every time you lose Yes, and you know, you kind of the spiral of changing weapons or whatever, you know, and But I kind of needed that too just to kind of get a feel for what I like, you know Jeremiah email me at larry at trading tutor.com and I'll send you a gift. Okay I appreciate that sir. Thank you very much. See you folks. I'll be on another hour See you next just a few minutes with the trade what you see volume two will be coming up If you want to call back Jeremiah go ahead