 The following is a presentation of TFNN. 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. And welcome all to another excellent edition of the Power Trading Hour and boy do we have a big day here up 1.6% on the S&P cash. I was looking for a bounce all week. I thought it would come this morning after earnings and a few things started to happen to kind of spun things out of control. At least for me thinking I was going to be up at 5.30 and cash in big. You need to be up at midnight because what happened at midnight and that was the Taiwan semiconductor earnings came out a little bit earlier than expected. That was about midnight Eastern time. The market started turning around there. We've got rumors that China is going to start maybe also making a little bit more money available. The Fed has been pumping since Monday afternoon. They must have doubled up over the last night and what we have is kind of a perfect storm of massive cash and flows around the world. And at the same time the bond vigilantes are feeling fairly good. They're not selling into this. They think that the government talk of massive spending is going to be a fraction of what a lot of the extreme, extreme, extreme far left we're talking about in the neighborhood of that what would have really been about almost $6 trillion. Don't know if that's actually going to be anything now because they can't agree on not spending the $6 trillion. Politics is the art of compromise and we may actually be saved by no compromise which might be the best thing. Generally when government does nothing, generally the stock market does fairly well. They like gridlock. Let me put it that way. So give me a call today, 877-927-6648. We've got just about everything going our way. We're not quite out of the woods yet. And when we talk about that, you want to look at the TLT. The level I've been looking at on the TLT has been 146.50. This is certainly good. We were way on our way to 138, 139 without the Feds massive push over the last few days. But I have a feeling now that everybody's getting on board. We had at least some action on the Long Beach front with them opening up 24-7 now just because there are a few people short. They can't just all go home at six. So we'll see. That probably took a little bit of political capital to tell the Long Beach longshoremen that you know what, if you don't work, we're going to get somebody here that is. But anyway, they're going 24-7 out there going to try to get 11,000 of those containers on their way every day more than they had been. Of course, that's quite the busy port. That means they're going to have to get on the trains, planes and automobiles to get that stuff here by Christmas. But we shall see. I don't know. I mean, that's the news. Reality is always a little bit different than that. But a lot of the problems that a lot of people were looking at or just problematic. There wasn't a lot going on. It was kind of like everybody was frozen. The one big thing that isn't going the way of the economy is crude oil. It's nice to be long crude. But of course, that is the most massive tax on the lowest on the income scale in America. Up 99 cents, $81.43. That's just an implied tax. Every single day, brutal tax on the people that they say that they want to help. I don't know about that. Doesn't seem like the actions match their words. Got to use our words. Anyway, give me a call 877-927-6648. Email me at path at tfnn.com. And yeah, this is more than I ever expected. Everybody was at least expecting a push to 4,000 on the S&P cash. The maybe too many people got short yesterday. Maybe people got too on the side of thinking down and the market was going to break. Normally, that's when everything goes the other way. There wasn't a lot in the puts and calls. There is kind of this idea that everybody's now using triple-leveraged ETFs. And that's what's going to basically take these guys that are way too bearish at the lows out. The only thing you can't do, in fact, it's been, what, three years now? Three years since you get the every two-week short numbers for ETFs. Those no longer published. And of course, they said that's because people can actually be a lot more short on ETF than long, which is true, but it would be nice if they published the numbers. The only thing you do get is how many people actually shorted an ETF. But again, unless there's not an inverse on that, there's not a lot of reasons to actually short an ETF. But a lot of people on both sides of that. But numbers on those ETFs, the bearish side of those, actually fairly large, that's easy to take a look at. But you know what, I think everybody, kind of reminded, I was thinking of the producers this morning when everybody kind of didn't really, they were doing everything they could to make sure this play failed because they sold 1,000% or 1,500% of the play. So there were 15 people out there that thought that they owned the whole thing. So it's just a chocolate full of Nazis and do other things that's so offensive and over the top that it'll close on the first night. Well, I think a lot of people this morning, maybe the Fed president, maybe others all thought, you know what, no one's doing a thing. So let's all do something. And they kind of just maybe not in concert, but all kind of did something at the same time and got a surprise benefit of probably blowing the market up a little bit more than they probably wanted to. I imagine the Fed president probably going, well, you know what, I probably put a little bit too much money in there that week. But we'll see. I'll watch the options here before the close. Like I said, it was a really good indication that when we were 50 points higher, we'd be 50 points. 50 points lower would be 50 points higher today at least. Maybe we just got too many people short. I'll look at the numbers tonight. It is interesting. Could we get a little pullback in tomorrow? Generally, what happens on these days is that you're going to get within probably a half a percent of any move tomorrow. That's pretty standard. So if we're up 1.6%, could you get a half percent pullback in the S&P tomorrow? Yeah, that still doesn't take you under $44,000. Anyway, when we get back, we'll talk about history. We'll talk about the volume we have today. What do you think it should be? Well, it should be for what we have today. I'm thinking we should have about $7.5 billion. I will do the reveal when we return. 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. What's separating you from the most successful men and women on Wall Street? That's right, information. 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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 4.00 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. Toll free at 1-877-927-6648 internationally at 727-873-7618. Yeah, Steve Rhodes in the den, we're talking about how to get those ships to other ports if you can't get them to this one. The largest ships that they built really are built for, container ships are built for one purpose and that's to go from, was it Shixing, China, I think that's the city, to Long Beach. They've improved the ones in Washington state, but three out of four containers end up on a rail going somewhere closer before they actually have truck drivers grab them. If you're not in the first couple of states on the left coast there, you're probably going to see your thing dropped on a train and it's going to get a lot closer unless it's some kind of emergency stuff. They're not going to actually take it from one side of the country to the next. But even the Panama Canal got deepened and widened a couple of years ago, but still those biggest ships can't get through it. The idea was maybe we can get them to other ports like here in Florida or up the east coast that aren't so busy. And yeah, if it was easy, they probably would have been doing it already. But now it's just a problem. You don't move all that one day. I think 38% of everything that we get in from Asia comes into the Long Beach port. So it's not like you instantly flip a switch. Like I said, even as this was starting, a lot more ships were just going on up to Washington. But you need two things, you need a deepwater port and you need rail access because those things are not going to, they need to get on those rails to get anywhere close. And then of course, the truck drivers take them last 200 or 300 miles generally, or maybe even farther, maybe a thousand, but they're going to be dropping them off along the line on those trains. So all that kind of logistic stuff, it just never works out well when it breaks. There's just no easy way of fixing it. Yeah, there's just, it's tough. And I've, I actually had a friend that was a, still is I guess, a guy that has kind of a market for truck drivers. And he's always trying to put truck drivers together with these things and mix and match them. And that's his job as a broker for a lot of the bigger companies. So they'll call him first. I'm sure he's going nuts trying to do anything to get stuff to literally could close down a company there, but there, it's, there's a lot of stuff already going there already. It's not like these guys have been closed and they just warm everything up there. They're pretty much there, but according to them, 11,000 containers more a day till they get caught up, but we'll see on that. It's certainly doable. I think when I found out yesterday that they weren't even open 24 seven, I thought, what in the world is going on? Who in the world approved that with all these things piling up, but you know how those things work. 877-927-6648, and we're going to talk a little history in my brush with greatness. And it's all just a little bit of history repeating. Yes, it's always history repeating on this day in 1977. Atari releases their first video computer system. It was called the VCS in early ads later called the Atari 2600. It took two years for the VCS to really gain traction, mostly because it was massively expensive and there were no games. By 1979, it was the best selling gift of the Christmas season. Once it established, the Atari VCS took the market by storm, popularized home video gaming and helped cement the video game movement in mainstream culture. Of course, Nolan Bushnell, a man I would later meet almost what 25 years after this happened, 1995, 1996, I met him, had gone through problems of his own. In 1983, the Christmas of Atari blew themselves up by making a game called E.T. And the transfers and the graphics were just horrifically bad. The game play was bad. And of course, remember that this wasn't just your downloading games. They had to make all these cartridges and the cartridges were expensive. But that was kind of part of their copyright scheme and everything. Well, this game just blew up and really caused a crash in the video game business in 1983, 84, in that people were so ticked off at the spending big bucks, because even back then, I think this game was 30 bucks. I mean, that'd be like a hundred today, I think, for a video game. And it was horrible. Anyway, Nolan was out and Jack Trameil ended up buying it, making Atari computers and some other stuff coming out around 1986. Of course, he had left from Commodore Business Machines that had been making a lot of the Commodore 64s and knew that part of the business. Edmund, has Edmund Gould? I think it's something. Anyway, his name was Gould. He ran Commodore into the ground over the next 13 years, as he sucked all the money out of it. And that was the first time I ever figured out just how much money you can go going broke, how much money you can make for yourself. But certainly Irving Gould did that at Commodore. Same thing in Atari, Trameil and Gould were birds of a feather, although they were very different in the way their approaches of running their companies into the ground, but interesting nonetheless. And of course, a lot of very interesting technology at that time that took almost 15 years to match on the PC side, especially for graphic media and audio and a lot of that other stuff. I met Nolan Bushnell, who would have gone to make three other big businesses between 1983 and when I met him in 1996. He was also the founder of Chuck E. Cheese. He found all those some companies that made all those goofy animatronic stuff and ended up making the Chuck E. Cheese thing, which was ended up being a huge moneymaker for him. Didn't I don't think he's gone public with another company since. Anyway, I met him and right in the middle of the meeting where we were talking about doing stuff for a Commodore media. I was representing a big company at the time. And, you know what, I got the call. Everybody had been laid off in the programming staff of Commodore business machines. I don't know how you go any farther once you've killed off all the programmers. So we were in this meeting and everybody was talking about stuff. And I thought, you know what? I can still catch a plane today tonight and get back. I was in Chicago. I can still get a plane. And I go see my brother because my brother lived there. One of the two can't remember now, but I can still get a plane. So I stood up and I said, all the programmers just got can. How far is this going to go? Everybody looked at each other and made some phone calls. I was on the road 30 minutes. We'll be back in less than three. Are you having fun trading the markets, but having trouble finding like-minded individuals to discuss your trading and investment ideas with? Become an apex creditor in the trading markets and join the Tiger's Den Trading Room only at tfnn.com. 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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 guardleafs, 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 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. And I got triggered during the break. My engineer spelled color the wrong way. We fought and died to kick the British out of the country and not to have a U in our word color. It's C-O-L-O-R. There's no U in color. It's time to bring out the pitchforks and make sure no one does that again in the United States, unless they be a quartered... What is it? Quartered, drawn and quartered. You have to be drawn first and then quartered, apparently. There's no quartering and then drawing, apparently. Eight, seven, seven, nine, two, seven, six, six, four, eight. As we left the excellent program already going on, I asked what I thought that the volume should be about seven and a half billion shares today at this time. If we were going to have a big volume day and this wasn't just more of a giant trading range. So what do you think we have? Seven and a half billion is what I was looking for. That's what we're looking for. And 6.15. So we are kind of light. Now, maybe we get a whole lot more before the end of the day. But my guess is we probably get a little bit of a treat. As I said, last week, I was looking for an end to next week before we would probably have any problems with the downside in the market. There certainly is some significant upside. We'll see what the volume brings in the current day. There were a few things I wanted to talk about. And oh, first one was Taiwan Semi. And then we're going to talk about Apple, because both of these companies kind of got together and said, you know what, there's been a lot of news out, but that news has been wrong. Taiwan Semi, you know, nice trading range, nothing to say that we're out of that trading range. Now, had a 12 million share low on August 19th at 107.24. We got to 107.58 and started kind of playing around a little bit. But you only had seven and a half million shares on October 6 when you got into that. You didn't break it, which I would have liked. Energy was about 15 percent lighter on the way down. So what, you know, I don't know who in the world would think that Taiwan Semi conductor is going to have a bad hair day. More likely, the Chinese literally take over the country. So it's kind of a binary outcome on Taiwan Semi conductor. If I was going to play it, I would only use options to limit my risk going forward as I would any China stock. Anyway, as we looked at Taiwan, as I said, interesting, I was getting up early at five thirties morning for their earnings call at six and guess what? They'd left it, they let it out at midnight. Not exactly sure why, but kind of especially in Taiwanese using Google translator, you don't always get the full picture. So it's a little murky, but they got started. China started talking about making more money available in the markets, too. And you can really see the E.S. really kind of bottom ground midnight on that stuff happening. It's about eight hours ahead or is it nine hours ahead? Can't remember right now. You would think Australia is exactly so 12 hours. I have to look it up. Can't remember. Anyway, Taiwan Semi conductor, they're saying there's no problem. They're making more chips are going to make 25 percent more in the next year than they made this year. And this year was great. So nothing but the pie in the sky, other than those pesky chai comms flying their military jets over their country. Another thing happened is a bunch of folks came out and said, you know what? All these Apple suppliers that supposedly were seeing units cut. Apple says, no, we haven't cut anything. Some of the other suppliers also say that why they let that story sit for a day or two, which I don't understand. Maybe they were just trying to catch some folks out here. But we were talking to somebody else the other day. And I always say in these deep declines like you've had an Apple here, what you really want is when you find some kind of low that looks like a low. Is you're going to get a bounce. Now, Wycoft called that bounce an automatic rally. Then you kind of pull back and if it's on lighter volume. Then you're good to go. So you wanted something less than 100 million shares. You got 78 million shares yesterday. If you wanted to buy a stock in the Wycoft method, you'd wait until it went back above some kind of moving average or something. I like to use Joe DiNapoli's three by three. That's a three day average. Pushed into the future for three days because it shows you kind of where that level is, which is around 142. As you went through 142, you had to think about getting it. Options on this, as we said earlier in the week, we're showing 145. I thought I'd be able to buy this thing still lower before the market opened. Of course, good luck buying options today are buying calls on it for 142.50, which is what I thought I'd be able to do. So I was right on the on what was going to happen. I was kind of maybe a few hours behind on the actual actual execution and about 40 points higher today than I thought. But at least I wasn't short, generally. So question, what did I do? I bought the ES as soon as I could when I woke up. I I could just see it was going up and there were probably wasn't a lot of downside for the rest of the day. All you have to do is look at that ES from midnight. So I got out way too early because I was thinking, you know, 4410 on the cash, 4415 on the cash. That's pretty good. But then there was more there. Anyway, 877927664, eight up 73 points on the S&P cash up 533. On the Dow, Nasdaq up 251, Russell up 32. We've got crude oil up a buck, gold up $4, silver up 36 cents. But again, probably the most important thing that happened this week for traders is that TLT. We saw the the bond vigilantes take a big swipe at them at the market and push it down as long as big talk of huge spending continued as that abates. The bond vigilantes kind of getting off this again. 14650 is kind of where you're starting to say happy times or happy days are here again. That's what it was happy days are here again. I've got to sing my 1930s songs, but that was kind of in the height of the depression. I wonder how they got that song through. Question first email through the day is about Sava S.A.V.A. which I played a few times in her day, not something that I'm comfortable with holding overnight, but I know some that are. The one thing I was looking at and played it a few times on this ramp up to $70.28 is just the massive shorting of the stock with many others like them. You've got two days now where you're above the three by three. So yeah, I'll handle more of this when we return. Are you in the market for buying or selling real estate in the Bay Area, including the surrounding St. Petersburg, Tampa and Clearwater markets? 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Don't spend much attention to it. But he's talking about the hydrogen stocks, which why not much is going on or he can do much here. We take a quick look at it. Hydrogen ETF, H-J-E-N. Again, this is very early innings in this industry, but this is one to keep an eye on. Nice big volume day here must be something else going on, why they have the guy on TV. But as we've been talking the last handful of days, I continue to think that batteries are not going to be the future of electric vehicles, but fuel cells with hydrogen or some gas. Probably a good idea, especially with Toyota getting that car that went 850 miles on one charge. So, and you know, you fill it up in five minutes. 877-927-6648, we were talking about Taiwan Semiconductor. Let's take a look at a few of these other semi-stocks. You got a little bit of a bounce out here on Micron, but not much volume. Still a lot of talk about maybe something going on in the turnover from DDR4 to DDR5 memory. Is that right? Yeah. So who knows, but should have seen a lot bigger move in Micron, did not get it. Of course, all week long, we've been looking at AMD coming out with really good news about a very great, very good low-end video card. No word on when you're going to be able to get the thing. But certainly, you know, it's shipping. And they were able to keep it quiet until the day of. But certainly this card doing well. But, you know, you had a fairly just kind of sideways market going on. You had kind of two days where it went up to 105, four days sideways and now up to 112.22. Again, you would like to see a lot more volume. Question is, where does it go? 118 looks like you're going to need some volume in this to get back up there. No answer yet as to whether or not we're just in a giant trading range in this higher thing, maybe waiting to get past and through Christmas. And then maybe all these other issues with supply lines and mass and vaccines all is in the review mirror. OK, other questions out here about what we got going on. Hector says. Isn't this a dead a textbook lesson in dead cat bounces? Well, certainly the volume in the queues is problematic. You're saying that you went right up to where resistance was. And that is this big down candle of the 28th of September. You came down with 97 million shares. You're into it with 30 million shares now. So let's say 45 million shares by the close, maybe 50 million shares. You're still at 50 percent. So that's what I'm saying. Maybe this is just a part of a bigger trading range out here. Thinking Powell may be a little upset about throwing so much money into the bond market this week now that everything kind of turned around. Maybe he puts a little less in next week. But yeah, I would say that the lion's share of the money made off the bottom is certainly there. Some people kind of fishing around for maybe some starter positions on shorts. Yeah, but here here's the thing. If we're going to probably move there are patterns and all this stuff. And the pattern that we saw developing into this week on options is one. Generally, you don't go do much on the day after and actually the next two days after options expiration, Monday and Tuesday after options, monthly options, expiration is generally roll over days when people are moving a lot of these options and futures positions around. Generally, you have one day down and one day up. But the combined Monday and Tuesday after Friday's monthly option expiration is one of the lowest correlations for actual movement by Wednesday. So if you if Monday's up, Tuesday's down, if Monday's down, Tuesday's up, it tends to be very tough to see a lot of action. You get two days. Wednesday is when the markets generally start moving again short of a very spectacular headline event. So if we're going to move, maybe we go back and pull back a little bit tomorrow. I'd be flat in cash for overall indexes into Wednesday unless we get some kind of big news event. I don't see a lot going on right now that makes me think we're going to see a big news event right now. We also have another thing and another reason why I probably wouldn't go short. And that is even on light volume bounces like this. I normally want to give them three days. People that were monstrously short on margin. The market just knows it knows it knows it knows those three days before people that were doing something stupid like either getting way too long or way too short, it takes a long time for a stock trader and equity trader to really understand that just because you made a lot of money, you're thinking a lot of make a lot of money is not a reason to increase your risk on this trade. Generally, I reduce the amount of money that I'll put into a trade when I'm trading well, and I'll go up to my regular full position. Which may be as much as 15% of the portfolio and one individual stock, 20% if it's an ETF, but you just don't want to bet at all. It is a long term game, even trading short or trading at a short time frame and adding risk because you've done well. Or trying to bet the farm on a single trade is never a good idea. I've never seen anybody long term. They always end up stepping on a landmine and losing a leg. Now, I don't think I don't think you're going to get any kind of big rug pull. I think you've got you. I think if you're going to get it, it's going to be tomorrow. They're not going to let anybody out on the short side easily today, at least in my opinion. It rarely happens over the last 20, 22 to 24 years. Of doing this occasionally, even I learn a few things. Question about Best Buy, now that we've got the president on the on the job is it really going to be that much better for Christmas from Wallace. BBY, you kind of come up, you just have very light five, six days. Right now, the bounce in the down trend until you go to test 142 things are better than they were. But I think that Best Buy is going to have a heart candy Christmas. Where that reference comes from. 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 in 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 4.00 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. 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The Tiger First mortgage program pays 7% per year, paid monthly. For more information, you can call 877-518-9190, that's 877-518-9190. 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. As we return, continue to watch a very large bounce on light volume, but my guess is that or my opinion is that it will be problematic to see this market roll really even into tomorrow, although you may see a little bit of pullback tomorrow. But my guess is they're going to hold it up, not make it easy for anybody that was massively short to get out easily, market generally when you're this wrong, you know, you should have and most people have. I've done it in the past. Oh, are we still here? Are we here? I'm hearing all kinds of bounces here. Anything here? Are we there? Anyway, we'll go on. I'm hearing all kinds of stuff. Spotty? Okay. Why don't we do this? Okay. Let me say you can't hear me. Okay. Good enough. I was hearing all kinds of Skype kind of things that made me think that we were not in the best of conditions. Anyway, Best Buy, you're up on light volume. We'll keep a very close eye today on that volume. But again, I'm thinking, you know, this may be the last big move up. Things probably not going to get as rosy as everybody thinks they are as quickly as they are. And two, man, this is October. You should have had a lot of this stuff. In fact, I noticed the Walmart was opening up areas in its parking lot for all the wintertime stuff back in July, I think last week in July. Anyway, so when you can, not when you have to, we will see you tomorrow. Same batch channel. Same batch time. I think there's probably going to be some good individual stock action tomorrow. See you then.