 The following is a presentation of TFNN. Trade what you see with Larry Pezzavento toll free at 1-877-927-6648 or internationally at 727-873-7618. Now, Larry Pezzavento. Okay, looking good. You're feeling good, Lewis. We're going to change the format just a tiny bit today and do the DAX and the footsie after I get through with this segment because it's rather timely. I posted something that was done on May the 13th. As you'll see, they were 95% sure that the market was going to...no charts yet. I posted something already, but it wasn't a chart. Just a second. Let's get it up here again just to make sure it came from Reuters, I believe. Just give me a second here. Just basically shows what was happening on May the 13th when the deal was 90% done. And as you can see, guess what? Here we are today and it's 90% done still. So what they say and what they do are two different things. The market had a huge rally. It was setting it major support. I wanted to send you this really beautiful chart on the Dow Jones futures. It's a 15-minute chart, but it was sent to me by our good friend over in the UK. You'll notice that it was setting right at that support line. As you can see that with that wedge and you can see the line went up and went right up to the retracement level when it broke through before, rallied well over 130 points in the Dow futures, stayed there and then backed off. So this was basically a three ABCD patterns, but what's interesting here is you see there are different levels and those levels are related to those harmonic numbers that we look at. And the numbers in the Dow Jones are usually 70 and 140 points, but not always because when the market volatility increased those numbers will increase by a factor of 1.27 or 1.618, but that's neither here nor there. Now the next one we want to look at of course is our good friend over in Germany and that's the German DAX. As you can see here, we did make a nice ABCD pattern on the bottom there, a double ABCD at 12,170. We've only rallied about 20-some pips. Going below those lows, folks, is really negative. So I don't know if that will happen or not, but in the wind is a possibility that these trade things will be all taken care of and will be living in Camelot one more time. Now whether that happens or not, I don't know. Now we want to look at the footsie because it's doing the exact opposite more or less. As you can see here in the footsie, it's had a pretty good rally today. And it's up into the area of the 78% level with a little bit of an ABCD, so we'll keep an eye on those. They have short-term downtrends, but again it's a short-term downtrend, nothing more, nothing less. I would like to comment just a little bit more about the open interest. I will bring that chart up again to let you folks see what happened yesterday in the open interest. This is the Treasury notes again. If you'll notice here on the first one, the 10-year Treasury note with an open interest of 3.7 million. This is the largest of all the commodities, and you'll notice open interest dropped with prices going up. That's not a good sign, folks. If you go down to the two-year note, which is the shorter one, at 3.6 million open interest, open interest dropped even more, 15,000. Those are not good figures, folks. You've got to get players to come into the market like we've had in the gold market to come in to get this thing. Now if we get above, say we break out really big to the upside, then yeah, that's going to happen. But it's got to do it with players, and the players are not coming in, folks. The CME is based on a buy-sell. It's an auction market. For every buyer, there's got to be a seller. When the buyers don't show up, there's only sellers. I don't know when it's going to happen, but that's what's always happened in the past. Maybe it's different this time. What the heck? I always wonder about that as I look at some of these things. Pay close attention. Yesterday, we've had a pretty big swings in gold here, folks. It's really neat watching the gold go up and down. We had a high, guess what? We broke down to exactly $34, I believe, which was the harmonic number in gold. We got down to $1405. We immediately rallied $12 from that level. There should be some pretty good resistance at $1419 now in gold if it's going to have a correction. Remember, we haven't had a correction here for well over several weeks. We've had one in silver and, of course, in platinum, but not so much in the gold. Keep an eye on that gold today. The key price for me is $1419, $1420. If we get above that after a $34 correction, this thing could go anywhere. The open interest is still building in the gold. Not as much as the last couple of days, but it's still building, whereas exact opposite is occurring in notes and bonds. Whether that means very much or not, I don't know. Now, a big thing going on, of course, is Facebook and the cryptocurrencies. You can see what's happening now, that we have some validity for cryptocurrencies. Bitcoin has now almost reached the 61% retracement at $13,500. It could be there today. It could be there now, I don't know. But you've got a big move there, and that would get you up to the 61% retracement. We've said all along that this was not a bubble because of the fact that if you look at Bitcoin from 2018 to 2019, folks, that was just a little bit more than 80% correction in Bitcoin. Folks, that's the fourth time since Bitcoin started trading that it's done those 80% corrections. By the way, we're going to have Simonly on the show at the half-hour break. Ruby's asked, when you said prices get up there, no, Ruby says when prices go up there, there are more buyers and sellers. No, no, when you have open interest, you have to have for every buyer, you must have a seller. Now, if you don't have a seller, the buyers have to come in and cover their shorts, and that makes open interest drop. If there's a buyer and a seller, open interest will go up. But that's what's happening. So it does apply. It's an auction market. That's what auction markets are for. So that's what I see. History says that that's what usually happens. Now, if this could go on for weeks, months, I don't know. But the fact that we're up here in this really strong resistance area of 61% on the long-term weekly chart, I don't know. By the way, Ruby, congratulations on the coffee. You smoked him on the coffee. I think it's fabulous. We got coffee up to, I think about 11. I mean, it's just a tremendous move in coffee. Ruby, I hope you're able to take advantage of that, but it was really a pretty good move here. So we'll watch that. We'll take a little break here. 877-927-6648. 9 a.m. until 5 p.m. Eastern Time. We have live programming every market day during market hours. Every morning, Larry Pezzavento kicks off the trading day live at 9 a.m. and breaks down the opening bell with trade what you see. At 10 a.m., Tom and Tommy O'Brien host the TFNN bull bear trading hour, followed at 11 a.m. by the team at TD Ameritrade and Thinkorswim with Fast Market. Basil Chapman hosts the Tiger Technicians Hour at noon. Steve Rhodes at 1 p.m. with the Traders Edge. Dave White at 2 p.m. with the Power Trading Hour, and Tom O'Brien anchors the daily lineup from 3 till 5 as host of the Tom O'Brien Show. Tune in to TFNN's Tiger TV on your computer or mobile device, and you can always find us streaming on YouTube. TFNN.com, Educating Investors. The Taz Profile Scanner is the most revolutionary piece of trading software that you will ever try. Wouldn't you like to approach the markets with confidence? As you begin your trading day, it's likely that you'll be faced with lots of decisions. 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I heard you talking about... I wanted to call in and ask about the Bitcoin Weekly chart. I know you said that it's getting close to the 618... Yes. ...on the long-term weekly. And you've expressed that you don't think that this isn't a bubble. Would you expect this to get back to the highs at some point, or how would you anticipate this playing out from here? My friend, I really don't know much about cryptocurrencies, but I do know charts. And I talked about this a little earlier in the show. I posted it here at tfnn. To show you, we had that high at almost 20,000, 19,500 back in January of 2018, and the market gave up 80% of its value. Paul, that was the fourth time that Bitcoin has done that over the last nine years. It's given 80% of its value back, and now it's coming back. If we exceed those old highs, all you have to do is multiply that 19,000 minus the 3,000, which is 16,000, add it to that top, and that takes you to 30,000 for Bitcoin. And who knows on these things, because when they go, they have so much of a following that who knows what it's going to do. But it certainly doesn't look... It's going to have a lot of trouble at 14,000 if it's technically correct, and so far it's been following the Fibonacci numbers really quite nicely. So all I know is it's not a bubble, and we didn't think it was a bubble. When it was down there, remember the ABCD that we talked about here before came in at around 3,800. It went to 3,300, and then it stayed there for well over four or five months, and then it finally started to moving up in March. But right now, it looks like it's got 13,500 written all over it. The last I have is 12,400. Yeah, it's at 12,700 right now. It really has the juice. It's the most explosive asset class ever by far, and it's just amazing to watch it. I've been fortunate enough to participate in the market, and I'm looking to see what the experts are saying like yourself Time out. I'm not an expert in this. I just look at the chart, my friend. In terms of the chart is what I mean. Yeah, okay, yeah. All right, that I understand. Larry, I was thinking about you this weekend, because I've heard you tell several stories about the 87 crash, and I watched the documentary this weekend about the 87 crash, and it was giving me butterflies just watching the documentary. So I can only imagine what it was like going through it and trading that time. Yeah, Paul, the most vivid memory I have was the spread. Remember, we didn't have E-minis at that time. We had the full contract size. So each time it moved to point, it was $500, not $50. And I had four shorts on that day, and they were doing pretty good. But the bid and offers, you won't believe this, but it was trading around $270. And the offer to sell was at $280, and the offer to buy would be at $250. There was a $10,000 spread between buys and sells. That's how crazy it was. Now, it was insane. And then, of course, the plunge protection team came in on that night of Monday night. And basically what they did, many people don't understand what they really did, but they went into the banks and they said, look, we're going to mark all your positions to the market, not where you bought it, but to the market. In other words, if they had bought something at $50, and now it was at $20, if it showed on their books, they would have a 30-point loss on whatever millions of shares they had. But if they marked it to the market, whatever it was, then they had buying power. And that basically opened the vaults, and that stopped the market from going down. And that was the low for still the low. And that low was 1666, I believe, in the Dow Jones, which was an exact 61% retracement of the low from August of 1982. So I remember it very vividly. Hey, did you ever expect that you would have seen the Dow way up here at close to $27,000 after that day? Oh, yes. That was my target. That day I had it at $27,000. And if you believe that, Paul, I still have two shares of the Brooklyn Bridge. I'm going to save one of them for you, OK? Yeah, save me that share, man. Thanks for your time there. Have a good day. Yeah, keep the faith and call in again if you get a chance. Yeah, those are the old days, folks. Back at, you know, I have to tell you a funny story. Well, it's not a funny, 1616. Thank you very much, Steve by Golly. You keep me honest as can be. 1616 was the low of the Dow that day. And anyway, I want to make a correction, too. Mr. Winsky, who's going to be on here on Friday, was telling me that the... I thought it was Dartmouth was the most expensive school. But, uh-oh, something's wrong. We've got a problem in River City. Broad Sword to Dandy Boy. Broad Sword to Dandy Boy. Can anybody hear me? The chicken is in the pot. The chicken is in the pot. Uh-oh, what's wrong? Okay, all right. I don't know why I'm hearing... Well, I'm hearing all kind of static and people talking on the line. I don't know what the problem is. But anyway, we'll... I wanted to mention... Well, the static's on my end, Al. But anyway, let's... I wanted to mention about that in 1987. That day, I was... I had covered my short about two... When the Dow was down about 400 points, I believe. It ended up being down 550, but down 400 points, I had made a lot of money on those four shorts that I had on. And I was long six bond contracts, and bonds were down about a half a point. And I was actually afraid that we were not going to be able to get our money out of the commodity brokerage firm. I was going through... Who was I going through? Lynn... Yeah, I was going through Lynn Waldock, and I couldn't get in touch with Barry because I know he was too busy, but it was hectic. And I was afraid that I wouldn't be able to get the money out. So I sold my six bond contracts. Folks, that was the dumbest trade I did for the whole year because bonds went... I think they went 15 handles straight up. I mean, it was just an amazing move. Here again, my memory might be slipping, but that's it. Anyway, Dartmouth doesn't even come in the top 20. Norm sent me what the number one school was. It's some of those heavenly seven schools, but they're all $50,000, $60,000. You know, it's all ridiculous, whatever it is. Anyway, those are the things that we're sort of keeping an eye on this morning here. Someone else asked a question about... Oh dear, I can't remember what it was. Oh, about the platinum folks. I still think platinum's got a chance to get down to that 780. You know, it hasn't taken off here with the rest of it, and I really think it's got a chance to get there. If we just take a... I mean, look what's happened to gold. Gold has taken out the top of April and gone to a 1.618 expansion compared to platinum, which should be trading at 1,050. That's what it should be if it's running with gold, but it's not doing that. And silver's the same way. Silver couldn't even make a higher high with gold up $35 on Monday. That's not a good sign, but the good sign is if you're in the gold, there's open interest coming in. The players are there, boys and girls. There's no question about it. They are playing, so we've got to watch very, very closely. What's this? I don't know whether what we're watching now is what we call fake news or not, what they're talking about, the difference in this trade agreement and stuff, but we've heard that before, and we'll probably hear it again. That's the bottom line. Oh, one thing, we've had a trade on. That's working nicely, nothing dramatic, but that's the crude oil contract. It's held up relatively well. It went to the exact price. The high was 1410. We had an order to sell it, 1408. It's trading about $500, $600 under that right now. So you keep your stop at break-even and see if it's going to move down a little bit more because it has the possibility of doing that. So we'll keep a very, very, very close eye on that. See, someone's saying that China tells Canada to stop meat supplies over bogus documents. I don't know what that means. That's reading the news, folks. I'll tell you, when you read the news, boy, you better have a strong stomach because, boy, I don't understand a lot of the things that's out there. In 2011, and after spending many years consolidating at lower prices, gold may be poised for its next big run. Tom O'Brien publishes his weekly Gold Report every Monday morning for subscribers consisting of coverage of the XAU, HUI, GDX, the Dollar, Bonds, South African Rand, as well as 25 different mining equities with specific buy-sell recommendations. As of April 1st of this year, the Gold Report currently has eight active positions with an average unrealized profit of almost 8% for each open trade. 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Using the Chapman Wave methodology, along with other indicators, Basil Chapman advises his subscribers of his expert market opinion each market day with his opening call newsletter. Right now you can get a two-week free trial to the opening call, Basil's daily trading newsletter, by visiting the front page of TFNN.com. Cancel at any time during that trial and pay absolutely nothing. Get your two-week free trial to Basil's newsletter of the opening call today by visiting TFNN.com. On the front page of TFNN.com. I don't know whether we have Simonly on the line or not. Si, are you there? Evidently, he's tied up this morning, so we'll have to continue on. What I've done here, folks, is I've posted the chart for the Christmas corn, December corn, that's new crop corn. And as you can see from the weather reports that are out there, that it's pretty nasty as far as the crop conditions. But, you know, we topped here way back on a week ago, actually nine days ago, and we've been having a nice little correction here. The key level that I'm watching is the 382 retracement that comes in around 432. That's now 20 cents from where we are right now. We'll see if that's going to be a good spot to get in or not, but that's what I'm watching. Let's keep a close eye on that one, but that would be a 382 retracement. If you'll notice the low that we made, folks, this is important from several different standpoints, but if you'll notice the low on May the 13th, the market went from 365, rallied up to 452, then we backed off to 425. That 425 was right near that gap area at 420. That was just a heartbeat off of the 382 retracement. Then from there we rallied another 50 cents, and that took us up to 472. That's why the importance of this 432 level in the December corn is really, really important. I chat with Sy just about every day, and he's been on the short side of beans here the last few days, and they've been going down a lot more than the corn because of the fundamentals, which I don't look at, but he does, are relatively buried. We'll see. Let's see if we've got somebody coming down the line here. Sy, are you there, my friend? Yes, sir. Hey, how are you doing? Listen, I know you're really busy, but I'm talking about the December corn and the possible support at 432. We're trading at 453. Do you see any possibility that we could get to 432? Oh, sure, Larry. Yeah, you've got nice weather coming. The market's bullish short term on the real wet weather, but you're going to get some heat units, so they're called GDUs where the corn's going to have some opportunity to grow for the next seven to 10 days. So yeah, you could definitely get that 20 cent break. And we've got a crop report that gives us acres, Larry, on Friday, so I don't see it going before that, but unless the USDA goes in the direction we all think it's going to go, which is less corn acres planted, I'm in that camp. In fact, I think the market can be close to seven to 10 million acres lost internally. We do polls and we talked to a lot of farmers. So we think the USDA will give us down six, right? Down six million acres. So yeah, you can definitely get that break, but that's to your point, 432 is a buying opportunity. Okay, do you see the possibility of corn running into those areas we've been at before like seven bucks and eight bucks a bushel? Well, so think about it in probabilities, right? What's the probabilities you get to seven, eight, ten dollars? It's less than 10%. From a fundamental standpoint, I think buy 50 corn is probably high enough under normal growing, growing scenarios this year, let's call it, where you get a little rain, you get some heat. That's what we're talking about the rest of the year. That's what we think is going to happen. It still stays wet, but you'll normalize. Why only 550, five and a quarter, 550? That's kind of our blow off. That's a three drive to a top. And you've got a lot of grain in the world, Larry. You've got a lot of grain in the world. Unless we get real bad yields and unless we have 10 million acres down, then you can go above 550. But that might take us a couple more months. So you got to be careful, right? That first move up to five and a quarter on the three drive, that's where you sell it. We have a question from one of our listeners, Sye, about the hogs. Do you follow what's going on with this Chinese Asian flu or whatever it is? And is it real? Yeah, it's real. But the problem is it's kind of like a deliverable contract. It's real in China. It's just not real here. We have a lot of hogs in our contracts based off of our deliverable contract. So unless they just completely buy our carry out, it's hard, you know, down here, you're probably getting close, you know, close to 75 cents. You're getting close maybe to an area that you shouldn't be selling. Because in the next, let's call it year, we might find more problems. So I just see more volatility coming in. If they buy our hogs, then yes, you get pretty interesting. It's amazing. It's amazing they have a 30 cent break per pound in the midst of something as supposedly as drastic as that. That makes you wonder about some of the news items that you get sometimes. Right. That's right. What's your feeling on the soybeans, Si? Where do you think you've got value here? I'm sorry, say that again, you broke up. The soybeans, what are you looking at for, say, July and November beans? Well, you know, November beans are the one layer we think we can break. And that's how corn can break 20 cents. If corn is going to break 20 cents, that probably means beans are going to break more, 50, 60 cents. But you get November beans back to 850. You've got a lot of growing left, and you've got to prove this yield, and you might lose a couple million acres on beans as well. So we're more bearish beans. We're more bearish beans than corn. So I think short term, that's the one that I think the USDA will probably raise the acres, not lower on this June 28th report. So beans are the ones that I think can kind of get beat up the most. And then you get corn to 430, you buy it, you kind of get beans back into 850, that's probably low enough in front of the growing season. You're just going to have more volatility. Sure. Now, the question that someone's asked is about the crop that we start harvesting here in late September, early October, given the fact that the crop is going in so late for corn and beans are having trouble too. What are the probabilities that we have early frost or even more rain in the fall? Is there any statistics behind that? Well, weather, anything beyond two weeks is hard to predict, right? That's my sort of stance on it. I will say a lot of the models are talking about more rain in a cooler summer. So what does that mean? Does that mean 90-degree days turn into 85-degree days? Does that mean one inch means two inches above normal? No. I would say right now the pattern is cool and wet, and until that pattern changes, I think you have a higher than normal probability that you do have a wet harvest and possibly a freeze. Now, my weather, and I would read three or four weather guys, and we got people on staff that look at everything, and it's still, you know, at 60%, that's the best flip, coin flip I'll take all day on a weather guide beyond two weeks. Okay, tell me about sugar. Has it got good value here at 1250? I don't know, Larry. I've taken kind of sugar off the radar. I just don't think there's a big story just yet. I'm kind of struggling with what to do with sugar. You know, when I get fired up, we'll talk about it, but it's sugary every time I see something, Larry, it's kind of like wheat. It's a crop that's meant to be sold, so I don't know. You need a real disaster. Be safe in your travels, my friend. I know you go back and forth across the country like more United Airline pilots, so just be safe when you travel out there, okay? All right, 10-4. Have a good day, Larry. Thank you very much. Simonly, folks, is Sylvia's financial. Certainly nice to have him on to talk to us about, you know, what's going on with some of these crops, and it's, you know, quite exciting, of course, so we'll keep a close eye on this to see if what happens. We've got a crop report coming in here this week, folks, and it's very exciting. So we'll be watching it very, very closely to keep an eye on what's going on. We'll be right back, 877-927-6648. 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The Bull Bear, binary option hour. Next on TFNN. Okay, we're back folks. I wanted to take a moment here to go over the open interest again because several people have already emailed me that they don't understand it. Folks, the Chicago Mercantile Exchange is an auction market. And when you remember there, you go into the pit and you become a buyer or seller. They have little cards, little paper cards. I still have thousands of them. They don't use them anymore. But there was a buyer on one side, seller on the other side, and you matched up with another buyer, whether it was a commercial or whatever, and he bought it, you sold it, and those trades maxed up, and that was the open interest increased by 1% by one contract. So there has to be an equal offset. Now, as prices go higher, okay, and the open interest drops, it means that the shorts are coming in and covering their positions. The buyers are paying up, and then when they get out, the open interest drops, and when prices go up and open it's usually negative. That's historically what that means. If you have anything more about that, I think you'd go to John Murphy's book about technical analysis of the futures markets, and he would certainly cover that under that section. But the only time I follow the open interest is when markets are at extremes, like we're seeing here in the Treasury notes and Treasury bonds, and what we're seeing, of course, in the Treasury, the stock indices, and then that's also another one, open interest is dropping in, and then also in the gold where open interest is very, very strong. So those are the ones that I'm looking at. I think there's a tremendous amount of support in the gold at $1,400 folks, $1,402. We got down to $1,405 last night rallied up about, what, $10 and we're trading around $09 right now, but at $1,400 there's a lot of numbers. One of those is that 3,82 level and that would be down $40 from the high. Remember the harmonic number in gold is 34. We've already hit that one, so maybe the bottom is already in. But that's what we're keeping an eye on, of course, so, Pete, you know, well you know, when I do this show every day I try to prepare what I think is going to be exciting and interesting for the day, but sometimes I don't get it done, so just bear with me sometimes when I don't quite get it done. The biggest problem that I see in the metals market is this one right here and that is silver. And believe me folks, silver means a great deal to me because of the fact that we are, you know, in this area we're trading at best what, $14, we're $15, $20 something I guess this morning, but it didn't go anywhere with gold breaking out. That's usually not a very good sign. Same thing, you know, with platinum. I will mention this. We're going to have Rich Anderson on Friday. He'll be on and we'll have him on for a nice talk about the crop report coming up. We have the wizard Winsky coming up on Thursday. So we'll take a, oh Thursday's interesting because that's Dr. Steve Shapiro's birthday. Anyway, let's move on to talk just a tiny bit about this corn that we just posted a little while ago. Folks, it's got a really good chance here because of this crop report coming in on Friday. I'd like to see it down today, tomorrow, and then I'm going to have an order setting in there. I believe around that $430 to $433 level, maybe raise it a little bit, but that's what my plan is right now. I'm following the open interest in that and it's still positive. So I still think it looks pretty good. Thank you Terry for the compliment about the guests. Yeah, those guys are, they're all very very very, very well, they're not only that, but they're super nice guys and especially Cy because he's, Cy hit the mother load last year at the end of the year and he's, he just got very, very fortunate after working in this business for a long time. He was the, his first job I think I've mentioned is with Rich Anderson and he still says Rich was the most ruthless boss that he ever had, which I could certainly understand that no one rich for 50 years but he was just a kid and now he's built up this huge business and he sold his business in January to Farm Bureau and they are, you know, he's very, very big. I mean he's they, well they got a lot, he's got 350 employees so he must be doing something right I guess. The Euro folks, the Euro is backed off quietly. We're trading around $1,350 now. We're down about 70 cents from the high. That's about 800 bucks and you know, keep your stop at break even because if this China thing comes happens to whatever, whatever, you know, these things could literally go wacko to the upside and you don't want to stand in front of it. You got to lead in some of these things so make sure you have your stops at break even on any of these things because, you know, who knows with the news the way it is, either up or down, you've got to protect yourself because some of these things can really be nasty and nasty is not good. You know, that takes a long time to get over those types of trades so watch that. We're keeping a close eye on the crude oil. There should be a lot of resistance up here at around the $59.50 level in the crude. That's what I'm keeping an eye on right, well we're there right now, $59.50. So I'm keeping a close eye on that for today so that's the main thing. The other markets that I look at, I'm watching wheat because we've got that crop reports going to come in on Friday too. I'd like to be a buyer of wheat down about $0.15 or $0.20 and also a buyer of the soybeans down about $0.30 lower. So those are just a few of the ones that I'm you know, watching and you know, sometimes they work, sometimes they don't. That's the bottom line. You can't ask for anything more than that. The Treasury bonds are trading at $155.17. We didn't make new highs again on this run, but nor did the Treasury notes. The open interest came down in both of them but the, I'll just correct that Larry, the open interest did not come down in the bonds. It was up very, very slightly but two-year notes and 10-year notes definitely had drops in open interest. That means shorts were covering. In order to get this market to go a lot higher folks, the only way you're going to get that is if this puppy makes a heck of a move to the upside with a lot of new buyers coming in because it's not going to go anywhere if it doesn't have any buyers. Well, let's correct that Larry. There could be the shorts have to cover all the way up and that would really be interesting because we haven't seen that happen before but with the Federal Reserve in there, who knows? You know the person who would probably know more about that would be Shane Wolf Trader and we'll have to ask him about that. It's pretty up on those kind of things but right now that open interest is not bullish in notes and bonds but it ain't going down, that's for sure. Let's take a break here, pay a few bills 877-927-6648. I'm certain you are or strive to be one of the best of the best at everything you do in life. It's the most common trade that we Tigers and Tigers share. 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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 I've posted that Euro chart just let you folks take a look at there's ABCD pattern that's there that measured to 1410 very very quiet market had a nice ABCD move in between and the first profit objective comes in at 113.25 we're trading at 113.55 and whether that'll happen or not we'll have to wait and see but you want to have your stop at break even in case something crazy happens with the Chinese tariffs ran whatever whatever so remember these markets can be very very volatile some people can trade without stops folks I've seen that and my more power is to them but they use money management and they they're aware of a disaster stops and sometimes that does happen to them but they're very very flexible and it takes a real professional to do that because you have to have an absolute discipline you know to get out of the trade when you absolutely know you're wrong because if you don't you know disaster is just around the corner you can imagine some of the things that have happened well look at well I don't want to go into the thing with Bitcoin because I don't know anybody that I know three people have been involved with that over the years but some of them done incredible all of them have but they were in very very early I remember now folks that we're going to have Norm Winsky on tomorrow and from Astro trends and we'll have Rich Anderson from Anderson Capital Management on on on Friday so we'll watch those very closely regarding the hogs so I mentioned that you know they're down in an area where they have some pretty good value in here the problem that I have with the hogs here folks is I'm keeping an eye on that because I'm waiting for a pattern that would validate someplace where I could you know put a place to stop and not worry about you know what what's going to happen and so I don't really have that in hogs so I can't trade them you know so that's that's just the way I the way I look at the markets I don't know the fundamentals I don't want to know the fundamentals I just want to show me where the buyers and sellers are and that's that's what I'm looking at same thing in the in the bonds I've been nibbling the short side of these for wow quite a while and yet you know I've now got hurt very bad but I made a little money lost a little money about even in the bond trades here over the last two or three weeks I think I did one trade that took a small loss I think it's around $400 and then and the rest of them you know I interday trade because sometimes it has some pretty good swings in there but lately you know since the last two days we've been trading from 156 and 155 you know there's not much action going there and with open interest dropping folks that's not good well that's the way I interpret it and I and I certainly could be wrong that's no question about that okay I did want to mention one other thing about the US dollar we've had you know this market has held up relatively well given the fact that we were looking for that big ABCD that did complete that's when the Euro turned and so keep an eye on that as we as we watch that because that's the main thing we're watching regarding the gold I believe gold has a good pattern at $1400 an ounce I wouldn't risk more than $8 and believe me it is rocking and rolling folks it's swinging last night we must have seen gold swing $60 up and down that's how much it was jumping around so it's not for the faint of heart but the patterns are there if you take some time and look at these patterns you know they'll give you you know they will get you to the promised land but they're not going to take you any place where it's bad 877-927-6648 we'll see on the flip-flop