 The power trading hour with your host David White call now toll free at 1-877-927-6648 or internationally at 727-873-7618. Now David White. Welcome everybody to another excellent edition of the power trading hour and well as we said in the update here we've got a move higher the volume is not all that exciting quite yet see I know I'm trying to get that done I'm not exactly sure why it's not doing that there we go to any pop-ups from all this other stuff let's do this do that okay got a few things going on here and we'll get them sorted in a minute and cut that okay okay go there and it still won't let me share my screen I'm not exactly sure why well we'll try to get this fixed at the next break anyway as always we like to come to you at this time the following takes place between 2 p.m. and 3 p.m. and we'll see what else we have here let's get back to everything else already in progress up 98 points and of course we talked a little bit about the volume just got a little over 10 billion shares on Friday and at that point what do you got you don't have enough volume on the downside we haven't had enough volume on the upside and now we're kind in this trading range options have pretty much been pointing to around 380 on the S&P and they really haven't changed much they may have come down a point or two so maybe 378 the question is at some point the bears or the bulls are gonna win it's just very unclear at this moment which side has more power in that okay that okay that that there you go okay I'm trying to get this fixed here of course it's never good to try to do it on the air that I just see no I don't know what is the ill here but it won't let me share the video I've tried all the things that have worked in the past yeah it's something's going on weird with discord right at the moment but we'll get it fixed here in the next break and just thought I could get it fixed here anyway we're starting to look at toward earnings I don't think a lot is going to happen before the end of the day Bank of America came out earlier you know at this point you just have to not be a total disaster take a quick look here and that's pretty much it you got a nice gap up in Bank of America you got to 3387 today volumes pretty good actually it looks like the next resistance level is about 35 35 something in that range and see what else we have here probably more interesting to me is earnings tomorrow after the bell tomorrow night we've got Netflix we've got Johnson and Johnson Lockheed Martin and intuitive surgical United Airlines and State streets and Hasbro and JB Hunt so we're starting to get that ramped up a bit and we'll see what the results are there but I think overall we're looking at some other issues that would be probably overwhelming or not not a good example that overwhelming would be a better see but why don't we go ahead just go ahead and well you can't see the charts either so let's see what we can do here for a moment oh boy okay every once in a while it's got to come to you that is most everything not working all at once and of course you got two minutes before you've got to be on and everything has to work amazingly before you actually start anything see if we can actually just get out of that get it restarted here maybe that'll change something okay that fix this well why don't we just go to break you here earlier and I'll try to focus on this so we get some of these things fixed and friendly mining jurisdiction this the goal just completed the Mount Todd feasibility study which resulted in a 7 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 Mount Todd as an attractive dearest part ready development stage gold project this the gold trades on the New York Stock Exchange under the symbol VGZ are you grinding in the market but seeing little to no return or are you a successful trader simply looking to make your job a little easier learn to take the path of least resistance with David White's powerful trading newsletter David White is an accomplished trader whose deep understanding of technology and the markets allows him to consistently find and share winning trades support and resistance define the ranges in which stocks trade by understanding these trading ranges David White is able to find the path of least resistance David White's trading newsletter the path of least resistance is delivered daily before the markets open to make every trading day an easy win visit tfnn.com today and subscribe to David White's ultimate trading newsletter for $119 a month and try all of our newsletters risk free with our 30-day money back guarantee take the path of least resistance at tfnn educating investors are you looking for a way to consistently add winning trades 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 at 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 markets open to give you the competitive informational edge you need to succeed these newsletters are packed full of Tom's advanced technical analysis in our gear 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 at 1-877-927-6648 internationally at 727-873-7618 okay we got everything fixed we're back on track and of course I didn't get to do this but I wanted to the following takes place between 2 p.m. and 3 p.m. and what else do we have here now let's do a little history in that we'll move on on this day in 1907 Marconi officially opens the first commercial transatlantic wireless telegraph service which runs between Nova Scotia and Ireland and of course we think of if we're not within 15 seconds of a smartphone it's the end of the world but back then what if you could get it across what was about two or three weeks normally and you could get a message across not too fast kind of a miracle on this day in 1907 and people would laugh at us for smartphones thinking that we had some kind of devil in a small device okay now that we've got everything pretty much fixed let's go ahead and get back to some charts come on there we go bring that up I did want to show Bank of America right there and yet a nice gap you're not gonna have huge volume our resistance as I said came in about 35 30 when we look at what's coming tomorrow which I think is much bigger deal in FL X not very bullish on Netflix they still have some problems could it still bounce to 320 bucks and be in a downtrend I think it can I'm curious about how many subscribers they've lost a lot of the shows have just been horrifically bad the CGI stuff and a lot of the superhero stuff is just abysmal and I think a lot of people really notice it's kind of a waste of their time for a lot of not just Netflix but the rest of them we've talked about how there have been 600 different shows scripted shows that is ones that last more than a movie or one episode in Hollywood being produced at the moment I don't think there's a lot there the only thing I see bullish in this is a nice double gap at 320 that would probably be the high side also probably everybody and their dog short just about everything in the market so I'm not a big fan of being short if I saw some bounces to some decent levels maybe they get there and then they start rolling back over Netflix is fairly seasonal that is it gets more subscribers in the winter than in the summer and even though they've exported a great deal of their business around the world the easiest money that is the highest margin still comes from the United States a little bit of Europe but mostly about what five eighths almost three fourths of their profits with some kind of net profit come from the United States but I don't see a lot of people talking about the latest hot thing on Netflix and of course a lot of these other you know some of these things are billion-dollar failures like the Lord of the Rings reboot some of her just half a billion dollars and I mean they would they you know some of them look good and just the script is unwatch the story itself is unwatchable or unfollowable some of them just everything is wrong but you know there's a few things out there that have everybody talking but not much so I think the quality has gone dramatically lower and I think that's going to be a problem for Netflix Disney and the rest take a quick look at Disney Disney did test it's low it didn't test it by that much lighter volume you are getting a little bounce out here today you did have a little lighter move on the way down so you may get a little bit bigger bounce I think a lot of people again you're probably going to see this as much as in Disney in the coming years as you do in Netflix and that is people not subscribing through the summer and as soon as the weather gets bad out and it gets cold they probably do a little bit better my guess though is everybody's going to start seeing past that into longer trends and whether or not you have a lot of people subscribing canceling coming back a couple months subscribing for a month and the kind of hit and run kind of subscribers instead of those that stick with them did hear the previous guest not to bullish on J&J I really don't have a lot of insight on it you're up on light volume today which would be kind of a negative but that's you know you're back up against resistance which is 167 see what else we have out here on the next level up I mean if you do if you do break that and you do have a decent earnings result once you break that you got a little resistance about 172 but you can go to 182 back up to the previous high and again a lot of these we'll take a look at these biotechs look like they may have started by bottoming out with the rest of the market you did have kind of a blowout low that's in the wrong one be you do have the IBB back up challenging the October 5th eye yet a fairly monster bullish engulfing volume wasn't great but it wasn't bad you're still higher than that but I don't see a lot that is bearish here and I would say that we're probably bullish into Friday's option or options expiration and that would be it okay okay apple let's take a quick look at that yes you did well I'm going to say you got good enough for me a three gap play to the bottom on apple that means that you should slowly start seeing this fill back up that would say that you have the opportunity to go back up to 164 on apple and you know could they have a couple of months and everybody ignored the long term they could and that would again probably just be a bounce in the downtrend I'm not wildly bullish on it but I think probably the time to be bearish on it is looking a lot more in the rear view mirror let's take a look at Microsoft so we've got Microsoft coming back up to its gap down gap down was on 30 what's called 38 million shares you got about 14 million shares today yet about 30 on Friday so you're up a little bit up here again a lot of earnings going to probably put a little bit more pressure but pretty severe resistance at about 240 what's called it 240 250 for that there is a double gap there which acts generally is twice as strong as a single gap so much better but that 240 250 is probably the line in the sand for that anyway we'll be back in a minute 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 publish the gold report with coverage of gold silver bonds the XAU HUI GDX as well as more than 30 different mining 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back guarantee don't miss out on this incredible new piece of software get your copy of the art of timing the trade charts today by visiting tfnn.com 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 as we come back we're going to start looking into earnings tomorrow because i think that's really what's going to matter uh we looked at j and j let's take a look at lockheed martin uh lmt hard to think that uh this business isn't going to get bigger uh but uh it is back i mean the chart doesn't look very good you have more energy on the way down than we had on the way up these are all earnings for tomorrow by the way uh to see if we see anything in is what is that uh rg intuitive surgical this is after the market j and j and lockheed martin are before market open tomorrow so we've got very light volume and intuitive surgical uh it's really been going sideways for a while i'm again not a big fan of being short down here as i suspect the bias on the greater market at least through the end of the week is higher let's see if we see uh we've got hasbro uh also before we open again uh probably the biggest problem with uh these uh toy companies is they make a great deal of money on whatever the biggest toy is buzz light here was a disaster uh most of these other movies aimed at kids have really not gotten any kind of critical mass yet uh this is just been going sideways maybe there's something i'm unaware of out there but uh i mean most of hasbro and matel is linked at some level to the big movies and what's the hot uh toy you had probably the last good toy that really sold well was baby yoda and i can't think of anything else that has done well since that again nothing but sideways action on that mat is matel take a quick look for that one see if there's anything else this one looks a little bit better i mean at least it's been kind of going up but i think you can make the same kind of claim and that is for all practical purposes matel has been going sideways since uh the fourth of october into this again yeah i maybe somebody knows in the den uh of some great show that's caught in the imagination of kids but uh i think baby yoda has been in i wonder if that's going to be the last one as we balkanize at val not balkanize like spot but balkanize uh the uh uh video that we watch uh so that's one let's go back to the rest jb hunt b h t uh no real word yet uh on anything coming out of at least that i could find in the uh train saga for the unions uh this one i would like i said is kind of like watching the hurricane if all that blows up in somebody's faces it's all about probably jb hunt and these other trucking uh companies they're gonna have to take on the brunt of moving cargo around that would normally be on rails uh so you know this is earnings tomorrow i don't see any reason to get in front of it but uh i would keep an eye on the headlines if anything really bad happens on the train fronts and the unions uh that would be probably my go-to one on something happening let's take a look at what we have for Wednesday for earnings um i saw a bunch of people out blabbing the day that said it was all about netflix and tesla i'm not exactly sure and that is uh tesla's back down on its previous lows volume really didn't decrease um i don't know the energy is about the same on the way up on the way down but it does kind of seem that uh maybe the tide is finally turned for the perma bowls and tesla uh where they're not uh at least most of them are talking if it could bounce back up to 60 they'd be pretty happy uh maybe this is the long slide that eventually gets them priced the same as most of the other uh big car manufacturers i still think a lot of people are really hot on this but now you've got a lot of competition you've got the ford f-150 gives you the truck and that's well out in front of tesla shipping their truck you have a lot of other cars especially the uh for if people are on a budget the smaller uh cars from hunday and kia um that have pretty small ranges but if you're you know if you're retired and you don't do anything more than drive around town probably fine for an ev and you know you get uh some tax credits uh probably pretty good i think some of those you can get around 45 000 dollars uh the average selling price of a tesla is still over 100 000 dollars uh so is the ford f-150 uh so uh the ev version of it so maybe we finally got to it there hadn't been a real clear indication other than the top which came in very well and that was a 117 million share high on august 16th that came in at 314 you got it 313 with half the volume and it's been uh on the downside ever since uh but you probably are around good support levels question would be uh how many people are going to pre-short tesla going into tomorrow because there's just as many bulls perma bulls as perma bears in tesla but uh it's probably more about what happens in china i think a lot of the sell-off lately has been uh what they've done in china and the overall economy in china slowing down uh he sold a lot he sold three four already and he needed this to somebody in the den is bringing up he sold three fours of uh the amount of money he needed and that was three months ago so i'm not exactly sure where that comes from uh it's to or that he's even buying it okay but maybe that's part of it you can still be wrong and the price go down and you can be actually right on your call so not everybody's going to actually pick it up correctly we've got a little bit under seven billion shares so still kind of a light volume day on this push higher let's take a quick on the uh these quick okay 36 79 still not much of the way of movement uh anyway uh a lot of people talking about tesla and and uh netflix is being the big movers out there i don't know if you're going to get that generally what everybody tells me that they're the ones that don't move it's the surprises uh that tend to get to you that's why i'm looking at these uh other things going on alcoa uh as a lot of people continue to look uh in the uh base metals come on here we go again you can make a big case that you've been going sideways uh since the fourth on a cone so there isn't a lot uh you got big volume days where really didn't much didn't happen on the grand scheme of things we'll look at a few more las vegas sands when we return 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 technology around us is changing every day with so much happening it can seem impossible to keep up with all the information data whites 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 the 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 in 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 ETFs china a shares in either direction visit direction investments dot 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 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 nyse american and tsx under the symbol vgz come back we're looking into earnings tomorrow and probably in the next couple of days i wanted to look at las vegas sands lv s to get here again the market's been uh very quiet here and just a couple of points although we're holding higher be interesting to see whether short sellers uh will blink before the close about the same volume at the lows as it was yet some nice moves uh higher a few days ago as uh china decided that it was going to open up the cow again that really didn't last any time whatsoever now you're just back down at these lows i think most of it uh is the deterioration of the economy of china they've been absolutely crippled by the uh zero tolerance and lockdowns not sure it actually did them any good i think a lot of the uh lockdowns were there to uh make sure that they didn't have any giant riots and overthrow the government uh but uh we shall see anyway uh you did get down you almost touched the low you were about what 20 19 cents higher uh from the october 14th low to september 23rd low volume was about the same though energy was just slightly more to the downside uh so the question is when does china decide to uh let the kraken go release the kraken almost said it wrong i know many people would be upset uh release the kraken uh but uh that uh you don't really have a good signal on that one at least for price and volume i got a question to take a quick look at the tlt this broke through didn't do much he had a lot of volume on the day after it broke through of course the uh a 10th it was the bond market was actually closed you went sideways the next day sideways a little up a little bit the next day down uh up in a reverse um this could be a longer pattern of a uh uh false breakdown but you don't have any signal you need to close back above a hundred dollars and 90 cents on the tlt um again not a lot of volume today the question is well the uh fed or the treasury start blinking a lot more like they're uh in one of those ransom videos where they're trying to give us uh some message in morse code by their blinks but uh unknown i would watch for this we didn't look at the dollar index which we will do now real quick just a second come on now one of those days go back to that later maybe i can get it during the break on the dollar index okay other things now let's go back to earnings so i haven't gotten through them all uh to got uh proctor and gamble generally this is the where everybody goes to hide because it's the stuff that you buy anyway um you do look like you had kind of a false breakdown out of the low of the 30th of september uh you're back into that low right now that looked bad but again none of this stuff really kind of jumps out at you is saying you've got a very significant edge in the market on any of these let's go ahead into thursday uh we're going to take a look at at and t again a lot of these things look like they you're either coming back up to resistance uh or they were a false breakdown you really never had the huge sign of strength or excuse me huge sign of weakness to the downside you actually had the strongest day was an update on the 13th um resistance though comes in at about $15.75 so that's about all you've got on that and see what else okay snap this has been one that has traditionally moved a great deal on earnings uh it's really done nothing but go sideways also i certainly wouldn't want to be short this uh being a under around $10 dollar stock uh upside would be about 13 bucks i would imagine a lot of people short this i've noticed uh on a mass of shorting a lot we do have uh csx and again this could be a hot potato if anything happens in the negotiations for the uh what are they train union train workers i don't know what they're called they work on the trains uh you're back up to the last high on the fourth you had about 15 million shares that day you got about 11 now so you're gonna get close back that of course that's on thursday what else do we have out here also union pacific the question is just uh what's the upside if uh they do end up signing a contract and everything gets handled on the labor front opposed to that but uh right now uh as i look at it resistance is about 204 we also have fcx which is uh freeport mac maran of course uh another favorite uh in the den when it comes to playing uh they call not bare metals uh regular metals not the shiny kind of not the uh not the shiny kind of metals but the regular kind of metals uh and uh again you got uh what is normally determined to be a tweezer top or bottom that you've got nothing but an inside day on today so you've got supported about uh 27 50 uh again probably the biggest uh influence on fcx would be a change in the zero tolerance policy on covid in china so yeah i don't know how you do that because it's going to be a headline but you know if you see the headline word ahead uh tractor supply whirlpool i don't see those really moving the markets very much we got friday we got ryzen and goldman sacks let's look at ryzen first yeah a lot of these kind of look like they were false breakouts to the bottom you're kind of back into this trading range and then uh of course on friday we've got goldman sacks and uh yeah he had kind of a nice bottom a nice turn around resistance though probably about 315 we'll be back in a minute this to gold owns and operates the largest undeveloped gold project in australia the mount tod gold project this to gold just completed their feasibility study resulting in a seven million ounce gold reserve this to gold has all major permits approved and has retained cibc capital market assistance in evaluating alternatives and in completing an accretive transaction mr gold trades on the nyse american and tsx under the ticker symbol vgz this to gold executing a strategy to create shareholder value 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 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 you need to act on at any time 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 subscribe to the fibonacci 24 7 newsletter today tfnn.com educating investors tfnn has launched 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 the tiger's den available to all tigers and tiger's for just one dollar for the year there's no catch or added costs when you join our community of traders sign up today and become a part of this educational community of traders just visit the front page of tfnn.com catch tom o'brien professional trader and educator founder of tfnn also a special guest on cnbc tom will bisect and dissect the markets the tom o'brien show next on tfnn of course it's going to be a big week normally bullish bias for options expiration on friday and right now it's like i said earlier in the show really hadn't moved much options have been pointing on the spies around 380 and that got to i think 378 on friday probably the most interesting thing as i close the show out was something i put in the newsletter this morning and that is that we had one of the 10 lowest lows on the put call ratio for the vixx on friday so everybody almost i think it was 15 percent 15 percent of people were buying puts on friday that always makes me nervous because that means that probably a lot of people that would normally short would be there and they're all thinking of turning bullish together now can that work for a little while yes but it's problematic but you go back 20 years and find the 10 days out of 20 years that the put call was extremely low about eight out of those 10 days ended up with a horrific downsides so it's not 100 i don't think of anything in the market that is you only have a higher probability of something else happen now does that mean that we can't go higher for the week and then come down next week i would love to see one more retest a lot of people get bearish and then the market head higher is that's generally the way things work but when you look at the put call ratios and all that everybody thinks we're going to probably 380 on the spies this week so when you can not when you have to we'll be back tomorrow and hopefully we'll have things figured out a little bit better building wealth trading in the stock market seems important