 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. I'm Ron Esparzo-Chappan, sitting here for Larry Pezzavento. Larry couldn't make it this morning. I'm sitting in. I usually do the noon time show, which I'll do today again. This is the Tiger Technicians Hour at noon until 1 p.m. eastern time. And also, I'll just mention that I have a newsletter called The Opening Call, that is a newsletter, very comprehensive. And we look at the market every day and what we're looking at in terms of the bigger picture, the smaller picture, and what sectors are working in stocks, et cetera. And of course, we have positions that we monitor every day. The YM, that's the Dow futures are up 18 at 28,301. Just a little off the all-time high. It was made just three days ago. Let me just show you this for a moment. If you're not used to my work, I have just three patterns that I look at. It's a straight line. In this case, it's down and up. It's an arch or a cup formation or a combination. So it's one, two, three. And sometimes you can mix one and two, which will be, in this case, a down move and then an arch. It's called the lowercase h. We call it the dreaded h in the Chapman Way methodology because if you take out the left side low, you can keep going lower. And on the right here is the reverse Y pattern. This is green because if you take out the left side high, you can keep going higher. All right. And the only other thing I'll mention is that we look for alphabetizing each higher peak all the way to an A, B, C, D, E, F, G. But it's the fourth highest peak at D. That other things can happen. You'll see over the period of the show how many dozens and dozens of times you've got Ds that are so important. All right. What we're looking at here is that you've got a leg D in the monthly chart of the Dow. I'll go to the cash index for the moment. I'll explain what I'm looking at. So in the cash index, we've got the Dow monthly chart in a leg D. And that's really unusual because you've got a discrepancy between the S and P in the monthly chart only a leg B, the QQQ, that's the NDX 100 trading vehicle, only a leg C, the New York stock exchange, which finally, after two years, well, a month early, then two years, making a leg C above the January of 2018 high of 13,635. It's right now 13,795, up 20 cents pre-market. This is a leg B. It goes to a leg C. This is a peak B. There's no new eye. But if it extends today, it continues a leg B. 13,825 was the high of yesterday. And the weekly chart is only on a leg B, no matter how hard I've tried. Look, there was a high of 13,611.49, the week of the 29th of November. 11.49. The next week, the week of the 6th of December, the high is 1206, less than a point higher, but that extended the move. Now there's a chance that I might have to go back because all of a sudden you're looking in January and maybe the market's down. The New York Stock Exchange is below 13,300 or 13,000. Then I have to go back and say, well, there was an alternate count here. Should have been a G, or I should have counted these nominal new highs. Now, I try to be as strict as possible. Leg B says that the weekly chart, and now you've also got a pattern that I call Chapman Wave Stalk Leg Formation. The weekly has the leg, long move up. Then it goes in an oval. It's not a rectangle. It has to be an oval pattern. It's called the body. And if it takes out the high of the body, which in this case is 13,255, the week of the 17th of July, it took it out right there. The week of the 1st of November, it started a new leg up. And lo and behold, we've got a pattern here that says, this should be the neck, but there are other things that are going on. It also has a characteristic of like a propeller shaft. You've got the blade here. You've got the fulcrum, the midpoint of the shaft itself. And then you've got to move up. That almost matches the move, initial move. And it looks like a propeller shaft. This particular one is really bullish because what happens is it makes a high level consolidation and then goes even higher. And eventually when this concludes, then there is a very serious decline. So the weekly chart is still very positive. And the very, to get to a D, at the very earliest you could do it, let's just say all of next week, short and week, all of next week the last, is that the last week? No, go on. The last, no, it's not the last week. We still have Monday and Tuesday on the following week. So short and week next week, let's just say it's a down week. And that makes the peak B change. The next week it goes one penny higher than this peak B. And that takes you to leg C. Then you still have to get a down week for leg C and then a leg D up. And that takes you into January. While I'm looking at it, January should see higher highs. But most importantly, 2020 based on the monthly charts should see higher highs. Okay, let's go through these numbers real quickly. I'll go to the YM. The YM is the Dow futures. It's up 19. The E-mini. Let's go to ES. We're going to December. I don't believe it. I mean, 2020. There we go. That is in leg C in the monthly chart. And it's trading at up to 25 and 31.97. The high yesterday was 32.03. Let me double check. 32.0. Yeah, 3.50. Has to go 25 cents above that. And it extends leg B. Can you believe they're about to talk impeachment today? Vote. And the market's not doing... It's neutral. Anyway, and the IWM, which is the Russell 2000, IWM is trading up 32 cents and 165.02. Now, I haven't changed this notation. I believe this really should be a B and we're still going to go to C to be in line with all the others. The pattern, I drew it in the stalk leg. Look, there's the leg. There's the oval. There's the neck. And then the beak comes right back into the oval pattern. Well, here's the oval. And this is in leg C in the weekly chart. It doesn't become that one-to-one to move up to... And I can propel a shaft or not. But here's a rectangle formation. The rectangle formation in the monthly says the height of August at 173.39, August of 2018, plummeted to December low of 125.81. And then it ran up. This rectangle suggests that over the period of 2020, we should see a move in the Russell 2000 ETF towards right on or just above the 173 all-time high. And then it could have quite a bit of a pullback. That's the way it's looking in the monthly chart. So far, this all looks quite good. Let's go to gold. Gold right now is down 3.5 at 1477. It's just stuck. A rectangle formation can last a lot longer than your patients. And there it is. Just stuck between 1490 on the upside resistance and the downside, I'd say 1460. Just right in the middle of it. Weekly chart is still consolidating. Same thing with silver. Here we go, SI. Silver is down 0.09 at 1697. Stuck in this rectangle formation, the dollar is showing strength. I like the dollar. We've liked the dollar since April of 2018, when my subscribers went long. We're still long. We've taken a little bit off, but we're still long. I think the dollar is going to go higher in 2020. It's at 9,744 right now, up 23 cents, consolidating a huge move at a peak D, that fourth highest peak in the daily, the weekly and the monthly. I'll be right back. Basel Chapman sending you for one and only. If you're not currently using the TAS profile scanner, when looking at setting up your trading opportunities, then your arsenal is short, a mighty weapon. The TAS profile scanner is a standalone piece of software that instantly filters over 2,500 global financial markets, such as stocks, ETFs, commodity futures and forex. 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EURUSD trading down 1.118. And you remember yesterday when I did Larry Show saying, this might be repelled from the 200-period moving average. It must hold if it goes under 1.110. That's just not a good sign. Just sideways action here. The USDJPY. This is the YEN. Made a V-shaped pattern. That's the cup formation. And it's holding OK at 109.50. I wouldn't be surprised if it tries to get to the 109.80 area. But the 109.14, that is really important support to hold. It isn't a leg D. Remember, D in the daily, D in the weekly, D way back in earlier on at 112, and P, D plummeted down to the 104 area. So here's another D. We'll see what happens with the dollar YEN currency pair. Now I wanted to go through these, and then I had a request in the den I'll get to that. So Crude Oil right at this moment is down 42 cents, at 60.46. I've got this as a peak C, if there's no new high today. And then I should make a D, and then it could be pulling back. But this is a continuous contract. Crude Oil, continuous contract. If it starts to trade in the 62.25-ish area at any stage over the next, I'd say next three, four sessions, that's 6307, 200 period, there's orange line in the weekly, so daily on the left, weekly in the middle, monthly on the right. That 200 period exponential moving average becomes a magnet. The mag D is good, the moving average convergence, divergence, the scarcity is just okay at 59. It's not really doing much. And that's the reason why this rectangle formation has been so powerful. Here as well, you've got this oval pattern and you've broken to the upside. So that makes the whole area of the 58, absolutely important, 58 to 57, really important support to hold. That's Crude Oil, continuous contract. Here we go. Hg is the high grade copper, down .02 at 2.79. I drew this rectangle in the other day, so I think it's trapped in this range between 2. These numbers are always so big. 2.8305 and the support is at 2.769. This is a continuous pattern. But this weekly chart, this cup formation says it could be bumping into resistance, strong resistance at 2.88. Then I was asked about what I do, platinum. Yeah, platinum's kind of stuck like gold. It's in a higher range, but it's still stuck. It's trading at 9.30. It's up 40 cents. If it can break to the 953 area, that's going to be really good. But if it pulls back to 9.10, it's just stuck in a range. Palladium had a spectacular move. Pique E in the Chapman wave methodology, but the Magdez good. Circastic is good at 85%, but turning down the blue line in the volume and the relative strength says it's lost already, didn't have enough strength. And it's leg D in the weekly chart. Monthly chart has gone all the way to, it's a spectacular move. Aberdeen physical Palladium. I think that it's got tremendous support between 1.80 and 1.76 in this area right here. Let's see, I want you to do... There we go. So we've got KC, which is coffee. There's that Pique D we were talking about for a few days. Leg D, leg D, leg D all the way up. It's a floating letter and it makes a peak when there's a lower high. So in this case, there's a good chance that today we see a Pique D and I drew the rectangle in that says between about 125 to the 1.30 area, that's key support for coffee, coffee continuous contract. LC is live cattle, makes a Pique D, big sharp move down, but it's got really good support. It's at 1.26.50 down, up 20. Still up, how can that be? Oh, from very open. Okay, but most importantly, the 1.25 to 1.24.50, that's going to be key support for live copper, live hogs. Is it live hogs? Lean hogs. Sorry, lean hogs has made a Pique C in the lower range. It's really struggling and I'd say the other day we were talking about that until I see lean hogs moving into the 73 area and it's at 69.65 right now, down 20 cents. It hasn't yet closed above the 14 period, the black line, the 14 period exponential moving average just except one time, a week of the 26th of July it hit 93.6 and the previous time before that was way back in May where it was 101. So this is a huge move down. It's just saying so far, nothing to see here is trying to establish a base. It might take a little bit longer. What am I leaving out? Oh, I'm leaving out sugar. SB. SB has made a Pique E in the daily chart of the Chapel Wave. Leg B in the weekly and only a leg A in the monthly after making a leg D to the down P, a trough D to the downside. That monthly chart, this is the first time it's testing the 14 period moving average in the monthly. It needs to close somewhere in the 1380. This is sugar. This is called sugar number 11, continuous contract. And then the weekly chart will be improving tremendously and you'll finally see some strength in the monthly. In the meantime, I would say 13 to 1280 is key support. It has to hold that otherwise it's a problem. So far it's looking quite good. Am I leaving out something probably? Okay. So ALB, I believe is what asked in the den. ALB is a symbol. This is Aberdeen Corp. I think they're in the industrial sector. It doesn't matter. The chart is saying that it's finally establishing some kind of a base. It's at 6644. Oh, 68. I'm sorry, 68. 70. The whole 66 to 64 area is absolutely key support. I would probably nibble here. I'd start a position because it's trying to make a cup formation. But absolutely, I'd have a two-point stop just initially. And if we can touch, slow with that stop. If we can touch 6926 to 69, maybe 43 over the next two, three days, I would raise the stop on a core position by one point. And I'd have a trading stop on the other, but I would probably add to it if it's, if it can have just a small dip to the 60, it's a 6877 towards the low 68 area. And then if it turns up, I would have one part as a core position if it can get, it needs to get to the, it really needs to get to the 6930 area. And then you can have one as a core and one as a trading position. And all I'm saying right here is that there's tremendous resistance between 70.5 and 72.5. Boy, you'd love to see 72. If it's just a quick trade, then treat it as a quick trade. But if you're looking into media term, there's a rectangle formation here on A, B, L, A, L, B, Aberdeen Corporation. And that, I'll put it in here, but there's really a smaller one. That smaller one is there. So the smaller one is the one you want to trade off in the weekly chart. And the monthly chart is horrible. It needs a lot of work to improve, but you can only go from the daily to the weekly to the monthly. That's how the steps move. You need to see improvement there. The futures are up 35 in the Dow. S&P futures up four. I'll be right back. Baselchap is sitting in four. The one and only Larry Persevento. The market will be open when we return to be very excited. I'll be right back. Larry Persevento has just started his brand new service, Fibonacci 24-7, and he's already delivering content to his subscribers on a daily basis when the markets opened and even on weekends. Each Monday, you'll receive Larry's written report that provides detailed commentary and a summary on the charts and videos that Larry sends out. And throughout the week, when warranted, Larry will send out via charts or videos or both the key markets that he is watching during the day. This will be up to the date active trading information that will help you in your daily trading. In Larry's first week alone, he sent out 25 charts, six videos, and a full report to his subscribers in just one week. If you're a technical trader that uses patterns and retracement to trade, then Larry's service Fibonacci 24-7 is something that you must try. 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The Art of Timing the Trade Charts is designed to help you when scouring the markets for stocks just beginning to form the trading patterns that many investors spend days, weeks, or even months searching to find. And right now we're offering licenses available at only $79 a month. We are so confident that you're going to love this new charting software that will even give you a 30-day unconditional money-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. Hi, everyone. We're looking at the future of the E-mini. There's a 10-minute chart. Very nice. Move to the upside considering what's going on up $350. But the day is young. I suspect that by the end of the day we will have a dip to negative. And that will be the big test of what happens by the close. Let's just do a couple of things here. Let's see. I want you to go to I had written down. I'm not sure I can get this LB's lumber. I wanted to have a look at this. No, I don't get that lumber. Pretty. So a couple of things that are going on here that are really important. If you look at the volatility index, this is the VIX. It's at 11.94. So my contention has always been that the VIX in the below 13, especially in the 12s or lower, means that you've got buying support. It doesn't mean that now the market has to go to all-time highs, which has been doing, but it doesn't mean that. It just means you've got tremendous support. There's a favorability leading towards the buyers. If you look at the 15s to the 17s, that's where you start to see some weakness. It used to be things have changed a little bit in the volatility index because it used to be that if you're in the 16s, you can see an inch a day, a pretty good chance of a strong double-digit down, maybe even triple-digit down in the Dow. Maybe the S&P futures can go to, the S&P can go down to maybe minus 13 or so. But there was a room to come back by the end of the day. But once you go to the 19s or high into the 20s, triple-digit down in the Dow and very strong 20s or more down in the futures. So I try to keep it simple. Under 13, there's buying pressure. Over 19, there's tremendous selling pressure. And in the middle, it used to be that going to the 16 level was not a good sign. But now we've seen that more and more, that can hold. And it becomes kind of a middle ground. And that's all there is to it. And look at these big spikes. When you went to 50.30 back in 2018, and look, this is right here. That was the week of, this was in February of 2018. Higher yields, it was the same story, tariffs, the whole thing. 50.30. I always say that that was an aberration. I don't know why it went to 50.30. There wasn't that much bad news. And then you've had other ones. You've gone to yields, China, October of 2018. And then you've got right here. You've got, I should put the dates as well. I don't have to always look at it. December of last year, it only went to 36.20. But believe me, that should have been the one that was at 50.30. I mean, that was the fair. There was a whole bunch of things going on. Huge moves down 20 or 30% in some of the indices. More importantly, it was kind of the same story. Higher yields, China's impeachment, et cetera. So this is going to be an important moment for three reasons. Number one is that, at least I should say for me, in my work, it's suggesting that I could make a case that a little doji candle in some of the key indices yesterday. That could be a turnaround. But the strength that I'm looking at here in the moving averages, in the MACD, the stochastics at 89%, I say over 80% is really good. In the 90% or higher area is really good. And here it is at 89.89. So this is holding very well. So I suspect it's room on the upside on the daily charts for a little longer going maybe into next week. Also seasonally, seasonally there's a lot of buying that comes in at this time. Oh, it's rare that we got the kind of sell-off that we got in last December. January sometimes can see some intense selling. Now, the weekly chart is in Leg C. Now you can get sharp moves to the downside. Look at this move from the week of the 6th of December, 28,109 to 27,325. That's a big move. And then, boom, it closes towards the high and we make higher highs. This is what I call the Chapman Wave inside track repellence zone. You see this green dashed line and below it is the pink dashed line. When prices get into that area in this case it would mean you can go all the way up to the 28,651 area in the Dow. That's where it goes. It doesn't mean you have to go there but I'm saying it goes from where we are to that level and that's the repellence zone. Also there's a rising wedge formation. Usually you have some kind of a dip after this concludes when it gets to some form of an apex. But the back D is strong and the stochastic is at 94%. On balance volume is suggesting not everything is cozy. And the grain line, the relative strength index is at about 60, I'd say 63%. That's good. So the parameters I'm looking at it for this to turn negative for the Dow daily you would have to see 27,900. So that's over 300 points lower. Maybe even four. I'd say to subscribers to my opening call this morning. I think it would take over 450 points just to get the moving averages to turn down sharply. The ones that I'm looking at are key. So far this is a good side. The S and P, SPX. X is the same thing. Leg B. Look at that tiny little candle yesterday. That usually means slowing momentum. But not often you've had two days above a long-legged doji like it was four days ago. When it closes above that it says, hey, wait a minute. Don't rule out that this residual strength. Now what is interesting here is that you in a leg D and the S and P cash weekly but not in the EES continuous contract is in leg C. And the new contract of the ESH 20 is in leg C. So this is a divergence SPX. X here we are in leg D. Maybe one will catch up. But this is so unusual to have a B in a key index and then a D. And I've got the same thing happening here. It's the opposite. Here you've got a D in the weekly. You're only in, look, and the Dow, you're only in leg C. So these disparities they actually resolve themselves. Let's go to Max in Fort Lauderdale. Hi, Max, how are you? Good morning, Basil. Happy Hanukkah. And same to you. And a Happy New Year. Thank you. And we were talking about the VIX. Yes. Is there an ETF product that doesn't get any deterioration that it follows the index pretty good? You know, Max, I think there must be at least 400,000, maybe a million people that are asking that exact question. No, they all show, because wouldn't it be great? Let's face it, the VIX at 12, if you could buy this thing and just hold it. I had a conversation with someone a week ago, I was guest speaker here in the Boston area and someone came up and said, what if I just bought the VIX? Surely, I mean, it's been 50, it's been at 100. Surely I could just hold the darn thing. I said, no. And as Dave White in the den is saying, VIX is based on options which fade. So it's hard to imagine anything based on it that can hold its full value, or at least the value that you buy it at. That is so unfortunate because it would be wonderful to have an instrument that shows no deterioration at all in price, that it can move like an index up and down at the exact value that at the end of the day, it doesn't get reconfigured. Hey, you want to hold on because there's something else I wanted to talk about. Okay, we've got Max holding on Fort Lauderdale, we'll be back down to 35 S&Ps of $4.50, thousands of chap is sitting for Larry Preservator. Good questions today, I'll try to get to that as soon as we return. If you're in the CD market and looking for a secure investment, the first mortgage program may work for you. The security for these first mortgages are building lots in the Tax Opportunity Zone in St. Petersburg, Florida. The Tax Act of 2018 set up tax-free zones across the country where you can build and hold for 10 years and pay no tax on the profits, which makes these lots valuable. The investment is anywhere from $30,000 to $75,000. 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Well, the problem is the diminishing of the options premium is such that at a certain point one of the options could shrink to, I mean, by even 90% could even be more. And the other option could be also shrinking even though in the absolute right direction. It's shrinking because of time. There's a time lapse. So, I don't even see it that way now. I'm trying to think, what are those things that they call... I haven't used them for ages and I'm forgetting the name. Where you can buy a tenth of the price or a very small amount of money, you can buy a say on the Dow you could buy Caterpillar and you could buy... What do they call those things? That's an option. It's actually a position but it's a very... It is... The ratio is almost like the GLD is one-tenth the price of gold and the IAU is one-tenth the price of the GLD. Now, someone in the den will tell me what it is. We have a caller George from New York who often uses them and I'm forgetting what it is but there's a unit that you can buy that is in fact 20 or 2021 and you could buy that but they don't have it in the VIX and that's the problem. Wow, I mean so many people would want to do that at LEAP. Thank you, I knew that Piki in the den would know and it's called a LEAP and it's like a position that you're getting in a smaller denomination but then of course you can make up for whatever amount of money you want to put in the denomination. So LEAP if they had a LEAP option... No, sorry LEAP VIX I think that would be one of the most popular vehicles around but they don't. So it's really unfortunate so the only way you can do this is to just say I've got X amount of money I'm going to put aside as insurance and I'm going to buy that and I'm prepared to see... I don't want to but I'm prepared to see it disappear but at some point in the time frame that I choose there should be a wonderful move in my direction and that's about the only way that I can think of it so the other thing is that people have rather complex ways of doing it because you can use options but you do have a limit because you're going to have to protect one of the sides. Let me think and let me find out if I can get more information about this on ways that you could do it as if you were buying one vehicle you're not only having three with one one short and two longs or whatever it is, you just want one vehicle that is just sitting there you can forget about it and then one day there's this terrible news about whatever it is and as bad as the news is everybody's feeling very sad about the news because the market is whatever but you're feeling very good because you're protecting yourself or at least you're getting some profit so that's all I can do it's a great question but I believe me there must be I'd say I'd say a lot of fund managers would love a vehicle like this just to sit there as protection they know they're going to be giving up some of their gains but at least they've got something there so that's all I can tell you I haven't given you much information per se but I've at least elaborated on the frustration that there is no vehicle that says hey I think one of these days we're going to have a 3,000 point move on the doubt to the downside and that's how I'm going to buy this particular vehicle and it should do very well but we don't have it okay thank you Basil thank you very much have a great new year thank you for calling I appreciate that so folks so Dave Weiss got a lot of information and it's time right this moment to read it he's always a front of a wealth of information sorry Dave I'll get to that so there are a couple of questions that I had just where did it go GBTC do I have I have the GBTC I could get the futures I just don't want to go to that right now it's going to kind of confuse a whole bunch of things that I've got up so the GBTC which is the Bitcoin had a spectacular move back in December of 2018 and it went all the way to 38.71 after coming public at somewhere around the $6 area I'd say that's a pretty good move so this is the Bitcoin investment trust and then it has a little bit of a fall it goes from 38.71 it drops about 90% to $3.66 and then it has a bounce a really good bounce everyone thought okay this is it it's all over now we've got to build bull market again and that went to $17.40 that's a big move a 4 fold move but comes all the way back it's trading now at 8 I don't see anything in this vehicle right now the 7.49 is the weekly 200 period exponential moving average I think it's going to get close to that I do see both Bitcoin and the MJ which is the alternate harvest ETF for cannabis sector alternate harvest ETF cannabis sector which went all the way to $46.45-$40 remember that was the same thing back in was that the high that was the high that was back in I think it was the summer if I remember correctly someone saying to me oh the son-in-law just bought it and he's doing so well I said I'll be a little careful it was 45.45 45.40 the week of the 20th of September they'd have a little bit of a fall to the 23's cut in half and now it had a good balance of 38 and now it's trading at 17 here again I do think in 2020 at some point both the MJ and the GBTC will have a pretty good rally but I do think that until they both look that as an IPO MJ has just been around for since 2016 it's maybe cannabis of some form or another has been around since the beginning of time but this has only been on the stock market for about a year and a half two years it's a baby it needs to be mature it needs to have a whole bunch of things there illegally it needs to the companies need to work out how they're going to make money a lot of them are losing money so just in that regard it needs time and the GBTC is an alternate coin I just think it's not its time I think it will be its time at some point not yet the other thing I want to look at here there was a question I had about IBM question here was Basil please look at IBM see if you see an entry price close to the current value have the best of days so Tim I have a problem with IBM I had mentioned this some time ago a long time ago in fact now they've got a couple of kids so it has to be five years ago four years ago I was in and the Catskills there's a hotel there it was a very nice wedding and I met the Catskills and IBM has its headquarters right nearby I can't remember what the mountain or something and I meet this guy and he's been at IBM for 23 years I said wow they've been they've struggled for so long have they got together with the cloud he said it's a work in progress I just think they've missed the bullet in all these areas I'll talk about an entry point as soon as we get back we've got a brief section coming up I'll be right back Basil Chapman I'm the only president the E-Money is up 3 the Dow futures up 29 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 trait that we Tigers and Tigers share if you're looking to become the best of the best when it comes to managing your money let me teach you to do what most wealth managers tell you can't be done which is how to time the markets I'm Steve Rhodes author of Mastering Probability and for the last 12 months the newsletter signals which have earned me the ranking as their number one market timer in the nation for the S&P 500 for the last 12, 6 and 3 months timer digest also ranks me as the number one market timer for gold as well the fact is markets can be timed and I'll teach you the exact set of tools that I use that has transformed me into one of the best in what I do sign up for Mastering Probability today by clicking on the newsletter tab on the homepage of TFNN.com and get immediate access to workshops where I take you step by step how to use an extraordinary set of tools as well as provide great market calls to sign up today if you haven't checked out the newsletters page of TFNN.com what are you waiting for all of the TFNN newsletters are informative, up to date, affordable and must have for every trader looking to gain a competitive informational edge in today's markets TFNN newsletters cover every aspect of the markets offer you the very latest in market news plus new subscribers get to test drive our newsletters risk free for 30 days from all aspects of the markets including stocks, bonds metals, commodities and tech there's a newsletter to fit your needs exclusively from TFNN stay informed each day you trade and get the competitive edge that will help you stay ahead of the game visit our newsletters page by going to TFNN.com and click the newsletters button near the top of the page TFNN.com educating investors since 1984 Basil Chapman has been using the Chapman Wave methodology to advise traders of his expert market opinion while originally hand drawing charts from the late 1970s into the 1980s Basil noticed that prices under most circumstances virtually always had a certain number of legs to the upside before declining sharply later Basil found that computer software which included the standard market technical indicators enhanced the degree of accuracy in calling price turns as well as market trend calls thus was born the Chapman Wave sequence 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 open 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 the opening call today by visiting TFNN.com this segment is brought to you by thinkorswim for more information just click the thinkorswim banner on the front page of TFNN.com folks we're back all month that's where it is okay thank you not reading the cast skills coming in that area it's near Hudson that hold by the river okay so IBM trading 134.39 rather see it come back to the 133.132 area in an arch formation and then hold and then start another move up because that second move up will say it's starting to make higher highs and higher lows so that's all I can say now there's another way to do it Tim if you do like IBM then why don't you just start a position very to about two three points 134 that's not a big deal in terms of just starting a little start a position right here 134 but unless by today's Wednesday by Friday afternoon or Monday morning if it hasn't tried to tackle the high of the 16th of 135.45 that that's just not good action so it's this is not a favorite chart pattern of mine at all but it will improve a lot if we can start to train in the 135.50s just a point higher that's amazing and it's struggling to do that so that's the way I look at it maybe start a little position here and just be in touch with me if it starts to train in the 135.60s and then we'll see if the weekly chart is starting to improve because that's the casting's flat so just before we wrap up because this is it I'll be doing my show at noon today there we go through stocks we go through a whole bunch of other things and hopefully it'll be interesting but here we were doing most of commodities because that's what Larry does and in the meantime back at the ranch have a wonderful day and I think Larry's back tomorrow so that should be great and the Dow is up 27 let's see what happens by the end of the day you can use the VIX as a gauge because if the VIX which is trading right now at 12.23 down 6 pennies starts to move into the 12.72 area as the market starts to go the Dow goes down 40 points the S&P goes down 5 that means we've got a lousy close probably today and a week Thursday but I do see higher highs coming based on my daily charts so keep in mind that it could just be temporary the market just kind of in a wait and see attitude let's see what happens have a wonderful day hope to see you at noon Eastern time otherwise you'll be back tomorrow for Larry thanks for being