 The following is a presentation of TFNN. Training Hour with your host, David White. Call now toll free at 1-877-927-6648 internationally at 727-445-1044. Now, David White. And welcome all to another exciting edition of the Power Training Hour with me. You're humble, lovable, and squeezibly soft host. The following takes place between 2 p.m. and 3 p.m. Well, we got a little bit of follow-through from yesterday. NASDAQ's at 50, S&P's at 13, Dow's off at 60, and some change. Again, Boeing weighing on it. We'll talk about Boeing in a minute. We have a double top secret guest at the bottom of the hour. And we'll talk about that in the second segment. That's what they call in the industry a teaser, a teaser. You all know I don't have many guests on there, but this one will be rather special. Has been on the show maybe five or six years ago, so I think you will enjoy it. Anything else going on besides very light volumes in the market? Well, we're starting the show with two hours left to go on the trading day. We do not have four billion chairs. We do not have 3.9 billion chairs. We barely have 3.8 billion chairs. Not surprising, again, not a lot of volume on the downside, not a lot of volume on the upside. What we need is one pullback with kind of light volume to some kind of pullback level. And I think whatever's got the market in this funk of not going higher and not going lower will probably resolve itself. In the meantime, we'll take a look and see what the charts are telling us and defining. We'll also talk about mass hysteria. At least I think it's a little mass hysteria. And how the stock market generally shoots first and asks questions later. And sometimes that gives you a big opportunity. Anyway, we'll talk about this and a ton more in the rest of the show right now. We'll do a little history and then we'll get into some charts. And I think we're going to have a good show. And on this day in 2008, video streaming service Hulu is launched to the public. Hulu has since become a focal point for ongoing development of the streaming TV service, along with the agonizing TV networks and movie studios. It's also revealed Alan Baldwin to be an alien when the ads first came out. Hulu took a big hit because as the spokesman, he was rather embarrassed to have his daughter put the answering screen message on for him. And I guess he's still around, but reputation never was what it was before then. I think it's kind of like when you get real drunk and start yelling at the Jews in Hollywood. We're calling your daughter a little piggy on the answering machine. You just don't get those character points back after so much. It's always kind of a little bit that kind of always sticks on you. Anyway, on this day in 2008, an alternative to Netflix, which continues to do well, but never has really seen the push that Netflix, but certainly a competitor to the rest. So, well, we've got that. Why don't we just get into what I wanted to talk about to begin with before we get into some charts in the second segment? And that is Boeing. One of the things my dad did besides fly U2s through nuclear explosions in the late 50s and 60s and run around with all the CIA spooks or at least fly them around was an accident investigator for the Air Force. So, when a plane crashed, he'd get called out there. We actually had one very close to where we lived. And I don't think he was the head of it, but I think he was like second in charge. Since it was locally, I guess it wasn't that he didn't drag me, but I certainly went and saw the aftermath of the planes that had crashed. I thought it was very interesting, but ended up, I think it was like early May or something. I must have been 12, maybe. I think I was maybe 12, maybe 13. And actually got to see the process at least the way the Air Force did it. It was very interesting, all the things that they went back in and all the things that they tested and the theories and the biggest thing was they didn't jump to a conclusion. The airplane crashed, something was wrong, but I learned then it wasn't just one thing, but it's generally three or four or five or six things that now cause a big problem. All of those six things have to happen most of the time in a very certain order for the outcome to be a lot of dead bodies. So when we look at Boeing today, I'm not surprised that it's down. I do kind of think that maybe the piling on of senators and narrative wells and people around the world. The one thing I don't understand is we've got about a hundred times more flights with those same planes in the United States. But why is it only in third world countries that they're having accidents? I brought this up a little bit yesterday. Maybe there's something in the training that's lost in translation. Is there something really different about the planes that they deliver there? It's kind of hard for me to believe that there is. But even yesterday's or Sunday's accident, I find rather troubling. That is because we had some indication in the plane wreck a couple of months ago of what happened. On this one, we do too. But it suggests something drastically different. My guess is that the electronics didn't cause it to explode or burst into flames or trail smoke or make sounds that everybody said were totally different. Maybe a bomb. Maybe they ran into some birds. Maybe there's a lot of things that we don't know about. They've gotten the black boxes back and we'll know in a day or two. I don't think the buy for Boeing is today. But I do find it very interesting that they sent two of our best FBI folk to go figure it out. Scully and Mulder have been sent to Ethiopia to figure it all out because it must be an X file. Just, you know, planes never crash. And of course, it's never the pilot's fault, never anything else. It's got to be Boeing today and everybody's piling on, which I like. Because that means eventually, they're probably going to be a good place to buy it at the looks. We'll be back in a minute. 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. In order to make the best decision, the first thing you'll need is a strategy that will help you minimize your risks. Whether we're in a bull or bear market, a good strategy is to have the tools needed to help you scan and analyze the markets before you trade. The Taz Profile Scanner instantly scans and filters over 2,500 global financial markets such as stocks, ETFs, commodity futures, and forex. 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We were talking about Boeing and I just crossed the wires. William Shatner says there was something out there on that wing. It was out there. I saw it. It was on the wing. Wasn't that a great Twilight Zone episode? Probably the best, don't you think? That and the one that had the gal from the Clampets who was beautiful. They all thought they needed a changer to make it look like the rest. Those are my two favorites, but you never know. Out there on that wing where he was really overacted for the first time. Most people got to see him. I guess he gets away with it. Some people can't, but certainly when you look at those that can overact, he is on the pinnacle of it. Let's go ahead and start looking at some other charts. Again, we've got a total mystery guest at the bottom of the hour. We looked at Boeing. I want to look at a handful of other stocks that were testing highs and lows. Ameal Pharmaceuticals bouncing along this $11 range got into a couple of previous lows with 2 million shares with 714,000 shares yesterday. Got a little bounce out here. I don't see a whole lot in it, but again, there's not a whole lot in this market with lows with light volume and then highs with light volume, but we'll see. The Cracker Barrel, this is in the Cracker Barrel kind of the jam thing, smuckers. The smuckers that weren't allowed within 50 miles of any large city. You always had to get there about an hour outside and stop at the smuckers when you drove across the country. Now it's the Cracker Barrel, although I think that there's a few in town, but man, are they big down here in Florida, especially for the RV crowd. This has finally come back to its big gap down. It's up on the October 16th. It did come up on 670,000 shares. I got into it yesterday or today with 221,000 shares. So you may get in here a little bit more, maybe another dollar or two, but actually for a lot of the stuff out here that came down with volume, this one actually kind of setting up. And of course, like we said, big RV kind of thing. So summertime crowds seems to be some of the stuff that it does. ED, maybe it's time to change your name or at least your symbol. I think it means a little something different than it used to growing up. Consolidated Edison, yes, ED, going through its previous high. That's the December 13th high, $84.32, a little under just a hair under 3 million shares. Today, 920,000 shares so far. Looks like it may hold that. I got to $58.27. Are there better ones out there? It could be, but certainly we've got this theme of a lot of stocks that didn't hit the highs with light volume, came back down with a light volume. Now they're back up with a lot of light volume. And man, that just is very tough to pull the trigger on because that's when they pull the chair right out from underneath you. Helena Troy, H-E-L-E, which is going back to its gap up of July 9th, 1925, 2.2 million shares. Again, we brought this up the other day. It looked right for a little bit of a pop. You just didn't know how far it was going to get back into the gap. But certainly two days ago, 200,000 shares popped yesterday with 300,000 shares. Today going by with about 106,000 shares. My guess is that you probably get one more chance at 108, 109, something like that, maybe 110. But probably a little bit of a pop, but actually for a lot of stuff out here doesn't look that bad. Now, other stocks that we have at lows that look like they could bounce or at least or finish going down for a while is Nordstrom. This has been bouncing around that $43 level for a while. You got three days going sideways since March 8th. And probably the big news is just the lack of volume. You had a big push down. That was on January 16th, 2019, $43.04. It rejected that low and started climbing. It's been kind of consolidating out in this area for a little while. But what you wanted is something less than 10.6 million shares. Two days ago, 1.9 million shares yesterday, 1.9 million shares today. A little dodgy out here, but just under a million shares. So risk reward, probably not a bad setup on that one. M-I-K, what else do we have? Michaels, we talked about this one yesterday. You want this thing to close above $12.48. And you may be kind of close today. You'll have to see December 24th, $12.48, 1.4 million shares. Got into it with 2.5 million shares on February 11th. So you know you're going to come back and at least retest this level. You've done that. And yesterday, you just had 1.7 million shares, which is probably a little bit too much. As bad as it could be. Certainly today though, you're around that level. Energy did kind of dissipate on the way back down, unlike a lot of stocks. Retail still kind of stinks, but maybe a consolidation for a while in the low $12 range might set this one up. If you've never been in Michaels, they're a big craft store. And what do they call it? Not notebooking. Something like that. Something booking, where everybody puts all kinds of stuff in and they've got little special scissors and paces of paper, scrapbooking. That's what it's called. But when I've been in there to buy things like beads and other things like that, yeah, scrapbooking. That's what everybody's always been in there doing. They have other stuff to do. At Christmas is normally when I go in there, buy all kinds of weird stuff for decorations. But storage, when you've got to have a place to store your stuff because you've got too much stuff for the place that you're at. So you need even more stuff where you charge Carl and fans. Gap down on August 22nd did so with 1.55 million shares. Yesterday got into it with a little under a million shares. Today still holding that area, but about 600,000 shares. She actually was up fairly good off the February 21st lows. And that would be it. I've been asked for something, so I won't give it to you. See what else we have. Oh, got an email, which we may have to. And someone's emailed me something about what I've always said about Boeing, which is it's Boeing or I'm not going. He says it's Boeing. I'm not going. I think the falsehood can go around the planet twice before the truth probably gets out the front. Anyway, we'll be back with our top secret mystery yet. The path of least resistance is David White's daily trading newsletter. And if you're looking for active trading ideas, then now is a perfect time for a 30 day free trial to this powerful daily trading advisory service. David uses his years of trading experience to offer his subscribers his trading ideas each morning in his path of least resistance newsletter. Using a combination of equity trades along with options, David keeps his subscribers up to date with all pertinent market information with intraday afternoon updates when warranted. Don't miss out on this great chance to get a 30 day free trial to David's daily newsletter, the path of least resistance with no obligation to pay anything. David has been delivering solid recommendations for his subscribers recently and if you'd like to see the type of newsletter he delivers every morning, then visit the front page of TFNN and you'll find the path of least resistance under trading newsletters. For all the details and to start your 30 day free trial today, log on to TFNN.com now. Hi folks, Tom O'Brien here. If you'd like to get my daily newsletter and market insights, then now is a great time to sign up for a 30 day free trial. Every morning by 9.30 I send out my morning letter to subscribers with market commentary on a variety of markets, currencies and commodities to keep investors up to date on the day's trading action. Included in market insights are specific buy and sell recommendations for stocks, ETFs and even options, which stops and price targets included for every trade in my newsletter. If you'd like to try my newsletter risk free for 30 days, then head over to the front page of TFNN and you'll find market insights under trading newsletters. I use my years of trading experience to bisect and dissect the market every morning and give my subscribers the most important information they need to know for the day ahead. I even issue afternoon updates for my subscribers whenever warranted with important market action. I'm always scouring the market for the next great trading opportunity. Sign up for your 30 day free trial to my daily newsletter, market insights today by visiting the front page of TFNN.com. Well, log in folks. TFNN is excited about our new software charting program, The Art of Timing the Trade Chart. In collaboration with Tom O'Brien and using his best selling book, The Art of Timing the Trade, your ultimate trading mastery system, David White has programmed an outstanding piece of software that will complement any trader's methodology. Using this first-of-its-kind program, The Art of Timing the Trade Chart allows you to scan thousands of stocks for Fibonacci formation setups including guardleys, ABCs, butterflies and much more. The Art of Timing the Trade Chart 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 Chart 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. I started trading full-time around October and October 1998. One of the first things that I did with I think in about a year was get into an absolute blender of a stock market. Probably the high tide of the dot-com fantasy in the markets. But we had down here in Tampa a church that held about 800 folks. And they would bring guests in to speak from all over the world actually. It was kind of interesting to see 800 people show up at a church and actually have all those people interested in trading. Many of the people that were down there were programmers that were actually trading during the day and programming at night when they got a chance trying to make money. It was a bright and shining example of financial euphoria. I learned many bad lessons. One of the things I did learn that was good was bumping into Adrienne Toghery. She had a few things. One was kind of a business model. We're actually not looking at this as some kind of part-time gig but a full-time gig. She also had kind of a very good inventory and some audio tapes. I think there were audio tapes. Some books and other stuff and I picked it up. I have to say that the reason I probably made it through 2001 was a lot because of what she taught me, which was learned by working with other traders throughout the year. How you doing, Adrienne? I'm fine. Thank you for the introduction. You know what was even more remarkable about that meeting? It was not, you know, most people come into this looking for technique, technique, how do I get into a trade? How do I get out of a trade? And what is the technique that I use in between? But these people came to hear the discipline aspect, the psychological aspect. So to have that many people show up in a church at that time to learn about this aspect of trading was remarkable to me. It was a most extraordinary meeting. I think it was and probably the most extraordinary thing to be able to do was a year later that 800 turned to about 100 because by then the jig was up and a lot of the people believed that the market owed them some money, were gone and they didn't make it through. In fact, I think the average of most traders that decide to do this is about 90 days and very few people make it beyond one year and then the people that make it long term are even smaller. But I guess when you look at people, you probably can tell me a lot more. Well, the fact is that people will come into this profession with the starry-eyed that they're going to make a small investment and they're going to make lots of money. But this, like every other profession, requires a learning curve and it requires learning that is very technical and very time consuming. If you want to be a doctor or lawyer or an engineer, what do you have to do? You have to spend a lot of money in getting an education. People think that just by coming and listening to a speaker or reading how to get rich quick in a book, they're going to be successful in this trading where people will come to me and say, oh, I've spent $10,000 on the education of trading. And I'm saying to myself, yes, and you want to make millions. The fact is that you have to put the time, the effort, and have the education necessary to make it in this profession. You know, 89% of the people that come into this profession don't make it. And why don't they make it? Because they do the wrong things. They don't adhere to the basics. You know, when anybody is having problems in trading, I always go back to the basics. That's true for any profession. When I was an opera singer, you know, I had to go back to the runs when I was performing and dancing. I had to go back to the core of my being. Same thing in trading. You have to have the core. You have to have the basics. And the basics are you have to have a business plan. You have to have the technical skills that you have proven to be successful. It can't be that somebody else has proven them to be successful. You have to prove that on your own. And then you have to prove to yourself that you can follow those rules. Because if you can't follow those rules, then you have to go to the discipline of trading. And that's in the performance end of trading. You know, when you look at any profession, any performance profession like golf or being a pianist, if you don't have the basics of the kind of psychology that allows you to perform, you're not going to be able to use the best of technique. One of the things that I think that I knew going in because I learned to fly was, at least when I was learning to fly, the first thing they asked me is, are you a doctor? Because at that time in the 80s, doctors that had their own planes were dropping like flies. And there was a kind of an organic reason for it. And that was that they all had to be back Monday morning, no matter what. And of course, if you're flying small planes, the weather determines whether you're coming back or not. And so we had a lot of people. There was kind of a little bit of hubris and a lot of belief that they just had to do it and push something bad into something worse. And you kind of get that kind of circular logic. And I've seen traders get into the point where they can only be bullish or they can only be bearish, they can only be one thing. And I guess the idea is just not getting stuck. We've got about a minute to go and then I want you to talk about what you're doing tomorrow night. But I always liked that the general that was down there and New Orleans who told the reporter did not get stuck on stupid. And I was, if you may say it a much gentler way, but if you're stuck going down the wrong road, what do you do? Well, again, you need to go back to basics. You need to work with someone that knows what they're doing, why reinvent the wheel. If you're going to try to learn it from books, that's fine, but know that it's going to take a longer time. So work with someone that knows what they're doing and someone who you can relate to. And you have the resources to back that up because if you don't have the kind of finances that that trader has, you're not going to be able to do the same thing that that trader does. And also, very, very important is that trading is not eight hours a day. Trading full-time is two hours a day. If you push any further than two hours, you're going to work against yourself. Tomorrow, we're running out of time here. I just wanted to get to it. Tomorrow night, you're doing a webinar. I'm doing a webinar. So in order to get the information, go to Adrienne, A-D-R-I-E-N-N-A-E at tradingontarget.com. And I'll send you a link. It's called the Evolution of a Master Trader. I appreciate it. Anybody that didn't get that can email me at path at tfnn.com. And I'll forward it to you. Thank you very much. We're going to have you on again soon, I hope. Great. Thanks for the opportunity. You bet. 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No real big change in the rest of everything. And of course, for me, as we watch this day, it's going to be whether or not we come up with any volume now. On the downside, we had about 8.5 billion shares. When we popped yesterday, just a little over 7 billion shares right now, 4.2 billion shares. I don't want to be Dr. Evil here. And it's just going to be light. If we're right here now, we might do 6.2 billion shares. So the question is, we go back, retest some lows here, maybe next week. I don't think it's going to happen now. A lot of a lot of put selling yesterday earlier in the day pushed the market higher. But could it be next week we turn back down or how about another scenario? And that is that we're all waiting for the trade deal so that everybody can try to sell into the pop that that trade deal brings. Just a thought. I'm not sure which way this thing is going to play out, but we can keep a look at it. I see several things going on. Of course, we have Brexit. We have a Fed that looks like it's actively getting involved in the bond market again. So what is this? QE 5, 6, 8 Friday the 13th part 12. Hard to tell exactly where it is with the Fed. Certainly does look like they're getting involved in the bond market though in the quiet on the QT on the QE if you follow that drift. Anyway, we were looking at public storage to see whether or not this thing can get over this level in the next couple of days. But certainly doesn't look like it's got the volume of the previous one. Was watching this one kind of interestingly today and that would be that I'm all wet, the market's going to go back up previous highs. And you know what? Star Bolt Carrier is one of the few out here. We looked at the Baltic Dry Index. It didn't see much, but certainly Star Bolt Carriers had one of the first bullish signs here in a while. That was the January 30th low at $6.90 with 1.8 million shares went below it with very light volume about 800 some odd half 850,000 shares over a couple of days. Now yesterday up on 809,000 shares today just back into that trading range today with 281,000 shares again, if you're really looking for an industrial takeoff in the rest of the world, what you're looking for is some kind of low in that Baltic Dry Index for grains and metals and certainly the carriers and the carrier price of those transport what do they call them, the trailers that they put on the ships, containers another thing. Thunderbird was one. Thunderbird Orange 2020, Irish Rose Night Train and Cisco were big as a kid if you were a three buck Chuck. That's all you could afford for your alcohol involvement as a teenager in being illegal. So anyway, we've got the kind of light volume back here in that Vista Outdoors when we look at this one certainly another one testing the very light volume of February 7th of 8.5 million shares excuse me $8.55 $8.55 with 1.86 million shares yesterday you had 641,000 shares today 341,000 shares but again you need to close back above $8.55 and you know actually not a bad looking setup but it needs to close back into those oh yeah Boone's Farm everybody forgot about that one too and I remember that it was like strawberry or raspberry or blackberry that's what it is blackberry white and strawberry but it was blackberry that they went out there in fact one of the guys if you ever come down to Florida there's a wonderful place to go see that is full of antique airplanes mostly from the Second World War but also from the First World War and slightly after it's called Fantasy of Flight it's about halfway between Tampa and Orlando but the guy bought all this land out there and if you ever fly over it you're going to see all the blackberry that he has planted all around there but I never knew anybody that actually planted and had blackberries never knew where they even grew but he had that anyway Herman not Herman Weeks Kermit Weeks Fantasy of Flight one of the highlights of my life was going to that place and looking at all that wonderful hardware from B-17s and B-25s and he's got a he's working on a ME 109 down there and some other German planes too from the Second World War absolutely spectacular place of hardware from the Second World War absolutely beautiful stuff and lastly as we get this stuff well you got to have the mad dog 2020 to activate the robot that's the doctor won't tell you I'm going to tell you is that mad dog 2020 and the robot tests you may still be sick but you just don't care that's what it was always about YNDX the Russian Google kind of thing October 17 $35.98 5.7 million shares got into that with 3.3 million shares on March 6 is closed back in it really hasn't done much again almost all I'm going to say 80% of the stocks are back up at these highs they did pull back a little bit last week and again the thing that could make you extremely bearish is a close under the 9 day average a pop back over it and then a close back underneath it that's why I'm thinking that if you are bearish that you could probably wait for a signal if you are bullish you're waiting for a pullback so you're waiting something that this pattern doesn't develop and turned into a bearish one but I'm thinking that I keep on waiting for kind of a pullback we got part of it this week the question is whether we get anything that will either allow us back in or tell us that there's far more downside I've got a quick question to look at Apple and and what it's doing here they just I think put a big bear trap for everybody this week and massive amounts of upgrades I don't see anything that justifies the upgrades I've read them I just didn't see what they saw in them what I did see was a lot of people getting short very short last week I thought it would get down about 170 it did expire fairly close to that 172.50 on Friday and then of course a bunch of people got short this stock again I'm not a big fan of shorting Boeing or Apple or some of these other stocks where they have lots of money and still lots of customers there's a lot of customers there are a lot of companies literally going to go out of business and those are the ones that I think may be a little bit more difficult to get into but certainly a lot more we'll be back in a minute Timer Digest has been tracking my 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 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 too sign up today David White's newsletter the Technology Insider is focused like a laser on finding the next big things in technology if you had invested only $10,000 in Microsoft in 1986 you'd have been a millionaire by 2000 disruptive technology like Microsoft is the key to these massive long-term profits and the tech insider is the vehicle from TFNN to capitalize on these opportunities this is the go-to newsletter that identifies monitors and profits on mostly little known cutting edge companies with great long-term prospects David's experience is as an inventor of Emmy winning animation products for TV and Hollywood that propelled a company public matched that with 14 years as a full-time trader and he's uniquely qualified to guide you through the light speed world of 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trial to the opening call Bazal'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 Bazal's newsletter the opening call today by visiting 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 and we're talking to the engineer during the break about the now evil of Disneyland our Disney world actually and yeah just one of those things they were something at one time they've been gently morphed into kind of like the Terminator can't be discussed with all it will do is suck your money in I'm glad I went to it when I had an opportunity I don't think I would go again I don't know I guess if you have some kids I knew or I still know a fairly big celebrity and he's got lots of money I mean the kind of money that you find almost imaginable unimaginable and he pays three grand to get a ticket for the day where they go their kids go to the front of the line and his wife does it he hates it because he thinks that they're learning a really horrible message out there but what can you say at least they get to go IBM got a question coming in about that one now see if we got anything else that's it for the end of the day we've talked about this and again just super high short interest in this it's creeping back up if you wanted to short this thing you're looking at about 140-142 again these guys have made an absolute massive bet that's probably not going to pay off if it does for at least another few years and right now just a lot of short interest is in the market I don't think anything's truly changed for IBM and their purchase of red hat probably not going to really change much either it just gives them some revenue that maybe they wouldn't have had before but that's about it anyway it's been a quiet day on the western front as we wrap up this show remember to sell when you can we will be back tomorrow I shall return same back channel same back time