 Subscribers also get a 30-day money back guarantee. If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up. TFNN.com Educating Investors The following is a presentation of TFNN. Okay, boys and girls, we're going to be taking a little bit of a look here in the E-mini S&P. You see this pattern right here? That's 382. You see this pattern right here? This was .50. This took four days. This has taken three days. Be really careful up here, folks, because if we get down and remember, we were up 900 points in one day and in 500 the next. So if we start giving this back, you're looking at A, B, C, D, and that's going to take us down to our basic price objective that we're looking at is somewhere between $3,100 and $2,700 in the S&P. It'll probably happen very fast. Remember, we have a lot of things occurring. Tomorrow, by the way, today we have Jeff Hughes, Alpha Insights, and then tomorrow we have Peter Elides on Monday. We're going to have Bill Meridian of Cycles Research in Austria. And so then we've got a couple of us. Adrian Tolgeray will be on Thursday, plus I got a few other guests in my pocket here, hopefully we'll be able to chat with them. I wanted to bring to your attention. Notice this pattern that you're seeing right here. This is basically the same pattern that our good friend Jeff over there in Philadelphia. Just get this up here showing the Canadian dollar. This is the exact same pattern, folks. Only it's with the Canadian dollars. These patterns repeat on anything that is actively traded and has any volume at all. Well, you can see this is a perfect pattern. There's your 382 retracement and there's your A, B, C, D to the downside. The reason why this is good is because you know how much you risk here. If you get much above the 618, you know you're wrong. But if it works, look at the ratio. You've got about a 4 to 1 ratio on that. So let's give a sound of one hand clapping for our friend Jeff because it's a beautiful pattern. The only thing I would critique is I don't like black backgrounds, but that's just my personal preference. If you like it, do what you like because you only go around the spinning wheel once in life and the clock is only round once. And so you've got to be able to use the time that you have left. That's for absolute certainty. Now the pedal to the metal. People are asking me, why am I so bearish? Well, folks, I'm going to bring up here a chart. I'm going to go back to history books back into the year of 2008. And here's what we're going to be looking at. Here is 2008. This picture was from when I was writing the letter. I started in 2007. And on this day right here, on March the 5th, I said this was going to be the largest rally in the stock market since 1938. Well, it was the largest ever. I didn't know it at the time. But the reason why I'm showing you, you see this arrow right here? This is what's just happened in our market the last three or four days. The market was breaking down badly. And then all of a sudden, the market exploded to the upside for three days. Now if you did the work yourself and went back and looked at the high here and then the low right there, Johnny's raising his hand. There he is again. Johnny, sit down. Sit down. Everybody knows it's 0.382. But God bless you, my son. Keep up the good work. It's exactly 0.382, OK? And that move was a six and a half to seven percent move in the Dow Jones, a little bit less in the S&P. And then you can see what happened after that. Then we have the three drive to a bottom pattern right here. I saved this because I knew that someday this was going to be... People would say, gee, wow, I got one right after 17 years. Well, occasionally you pick up a blind hog in order to feed yourself. But anyway, that's where we are right now. And the fact that this ratio has been up, we've had this three days in a row and it's not gone above the three days. That's right, folks. This, I was watching it. Unfortunately, I stayed up all night because I had a short position on in the S&P and I knew I was going to get stopped out because I sold it at $10, $3810, and I had a stop at $3822. And I got to $3820, or $3819.5, and I said, well, might as well go to bed. This is over. And so I went to turn off the thing and I saw it was trading at $37.96, and from there it went all the way down to $37.45 or something like that today. Anyway, that's why I'm looking at this. May or may not repeat. I don't know. If we close really strong today, folks, and the Dow's up another couple of hundred and the S&P's at $3828, $3830, anything above $3820, this thing's going to go higher. But if it doesn't, and if it doesn't, then that's when the pedal will meet the metal and you're going to be, you don't want to be on the wrong side of this one because this next leg down, they're not going to take any prisoners. This thing's bouncing up and down pretty good. And believe me, when they do ring the bell the next time, it's going to be a pretty significant ringing in your ears. You're going to be able to hear it pretty good. Are you noticing, folks, when you're watching this? The Dow will rally 500 points. You blink your eyes and it's giving it all back. I mean, other than Monday, that's what's happened on Wednesday and Thursday. So I'm just alerting you to the fact of where we are. Okay, now I had a couple of questions that people were asking me about. And that was the, we had a really, really nice trade in the natural gas. I wanted to get this up here to show you. We did the daily because it was a perfect guardly. Oh, shut the front door and raise the red. Just a minute, they call me wrong, click, Larry sometimes. Hold on here. There's where we are here is a natural gas. Now this is the 15 minute chart. And all I wanted, this is where we had the guardly forming on the daily right down here at 630. We bought it at 633. And we sold it today for 693, that's 60 handles. You multiply 60 times 100 because it's $100 per point. That's $6,000 and that was within a risk of 500 bucks. That's a 12 to one payoff, folks. You don't get those very often. But we've shown this many times on the daily. That's where we were right down here. That was a 78% level. So let's pay attention to that one. Now there's another one. Believe it or not, I haven't done anything today because I'm a little nervous on all these different markets. But we've got another one that's bouncing around at one of those little famous numbers. And if I can find it, and I hope I can, I'm going to show it to you. Oh, why do I say that? And then I can't find it. Shut the front door and raise the rent. Boy, do the work yourself, folks. It's the wheat market. And you know what? I do have it. What am I talking about? Shut the front door, raise the rent here. There is the wheat. OK, here if you like Fibonacci and you like 786, there you are, boys and girls. Here it is right there at $8.73 was the low. And remember, this thing was limbed up about three and a half months ago, trading at $13. Everybody wanted it at $13. How many people want it? Now, Johnny, sit down. I know there's only a few people that want it. All right, folks, I'll stop doing that. Anyway, this is where we're standing right here. If you see a print at $8.70, this thing's going to go a lot lower. But you have an ABCD, and you have a beautiful pattern that's right at the 78% level. Look, it went through the 6.8 like it didn't exist, but that's because there was a bigger pattern there. That's why. Hey, we'll be right back. 877-927-6648. Time of booming inflation. 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Steve won the prestigious Timer of the Year Award in 2018 and barely missed that mark again in 2019, finishing at number two for the year, an amazing accomplishment. Steve Rhodes is committed to sharing his techniques and knowledge with anyone who wants to learn, and he shares his vast amount of trading knowledge every day in his Mastering Probability Newsletter. Steve's award-winning newsletter, Mastering Probability, is delivered every trading day with updates throughout the afternoon. Sign up for Steve's Market Newsletter, Mastering Probability, and you'll receive access to seven of Steve's educational webinars absolutely free. At TFNN, all our newsletters come with a 30-day money-back guarantee, so you have absolutely nothing to worry about. Visit TFNN.com and try Mastering Probability, 30 days risk-free today. TFNN, educating investors. Are you looking for a way to consistently add winning trades to your portfolio? Tom O'Brien is here to help. Tom O'Brien has been successfully trading markets for over 30 years. A frequent contributor to TD Ameritrade Network and CNBC, Tom O'Brien founded TFNN over 20 years ago to help educate investors just like you. Tom's Daily Market Newsletter, Market Insights, is published every morning when the market's open to give you the competitive informational edge you need to succeed. These newsletters are packed full of Tom's advanced technical analysis and are geared to deliver comprehensive strategies for a successful portfolio. Get Tom O'Brien's newsletter, Market Insights today, and try all of our products and newsletters 30 days risk-free with our money-back guarantee at TFNN.com. TFNN, educating investors. Toll-free at 1-877-927-6648, internationally at 727-873-7618. Folks, I have a question about, you know, why I don't use Elliott Wave. Two reasons. One, I have a hard time counting seven way. I can count to seven. It's when I get to eight that I have a difficulty, but actually what it is is, you know, I've been around this business a long time and when I was in Pismo Beach, I had that really nice trading house there that acted like a hotel for many people coming in and I had the best Elliott Wave people in the world coming in there. I had the ones from Europe coming in. I had Glenn Neely, Bob Miner, who was a couple others that were in there. One of Prakter's guys, but he was away from Prakter at the time. He was no longer with Prakter, but I always had trouble with them arguing about whether it was a three or a five. Folks, what I did is if you look at this chart that I posted up here, this is right out of Gartley's book and what he was, remember he did this in 1937. That was before we had, you know, Ralph Elliott came out with his Elliott Wave stuff. A guy that was doing similar stuff during that time was Jim Wycoff. Rich, excuse me, Richard Wycoff, he was doing the same. They're all friends, they knew each other, but you can see here, all I'm looking for was just the ABCDs. I wasn't worried about this little stuff in here. I wanted to be able to see the ABCDs. All I try to do is I match an ABCD with a Fibonacci ratio expansion or contraction, whatever it happens to be, and at that particular point, I know where I stand. I don't care about the fundamentals. They can do whatever they want to, they can lie to me, cheat me, whatever they wanna do, but they can't hide from me because if prices are going up, there's more buyers. If prices are going down, there's more sellers. That's all I do, folks. I try to find these patterns and that's what I do and sometimes they work, sometimes they don't. In fact, I had a conversation just before one of our folks is doing extremely well, but he had a bad day yesterday. And, well, big deal, that happens all the time and I told him, I said, it's just like if you're in the cold calling business, you don't stop calling people just because 10 people say, go to Hades or something like that. No, you keep going to someone, says, yeah, I think I'll buy that. And you might have to do that 50 times before you get it, but when you get it, you've got a winner and that's what the odds are and that's what you're doing when you're trading. You don't know which ones are going to work and which ones aren't. We always make a joke here about Warren Buffett. The two rules is, you know, rule number one is don't take the losing trades and rule two, you know, don't violate rule number one. Well, that's really great. That means you're not going to trade at all. So if you don't have any risk, you don't have any opportunity. And I don't know if you know this or not, but in Chinese literature, the words risk and opportunity are written exactly the same way. It's how it's used in the sentence on what the meaning is. So it's the same way in trading, folks. It's either risk or opportunity. So you got to figure out which one you're going to deal with because you're going to lose a lot. It's like breathing in this business, you know? And believe me, you do have these losing trades and, you know, sometimes they lose, sometimes they win, but by golly, that's what you're looking at here. So anyway, that's what I try to do. I mean, I know the Elliott Way stuff looks really great and I see the thing and Jeff Hughes is really good at it. He'll be our guest here in about 10 minutes. And he'll show you what he's looking at in the Elliott Wave, but all I do is I look for the ABCD patterns. I watch for the Fibonacci ratios and that's what I wrote that book about. Trade what you see, not what you think. Folks, trading is about not thinking. Trade what you see, not what you think. I mean, my God, listen to the news that's out there today. There's going to be more oil. There's going to be less oil. There's going to be a war. There's not going to be a war. China is bringing their ships into Taiwan. I mean, there's so much stuff out there. If you start listening to that stuff, you're going to go wacko. And that's why I watch Frasier every evening because at least with that, I get a few laughs and I don't have to listen to what's going on in the news. Now someone brings something to my attention. Yes, I might go to the news and look at it just to see how the market reacts to it, but I don't know what's going to happen next and no one else does either. So the faster you understand that, the better off you're going to be. Remember this little motto, it's not what you think, it's how you think. And so you got to reverse your thinking and try to find out something that works for you and this works for me. I don't care about the news. In fact, I'll go into a report. I'll go into anything as long as I can see a pattern and I know what my risk is there. Those are the two factors that I have to have. If my risk is there and the pattern is there, it's a done deal. Just like Curly, remember in city slickers, one thing you got to do that one thing. Well, that's what I do is I look for those two things actually that pattern and the ratios coming together. And remember now, sometimes when the patterns and ratios come together, there's something that is amiss, there's something wrong. And that those two things are really wide ranging bars coming into those, okay? And if there's a gap in there, okay? That tells you that, uh-oh, be careful. There's an unknown out there and we don't want to be in the unknown area. We want to be in an area where we have a rough idea of where we want to be. And that's what I try to do here. And sometimes I do better than others, but that's it. Let's go back over to Germany now and we're gonna take a look at the German DAX. It's been under a tad pressure, just like the rest of the world here. And you'll see where we are right now. It had one heck of a rally on Monday like everything else in the whole world. And you'll see here that we've made a really nice butterfly bottom down in here. We're having a nice rally right now. In fact, it was not a surprise because that said there's a perfect ABCD there. I mean, even a third grader that can pick up marbles and count to three could see that one because you have nothing more than a beautiful ABCD pattern coming down. There's your expansion ratio setting right there at 1.618 and there's your rally coming up right now. Notice the rally now has been equal to the one that we had right before. There's that three day rally again. This one, this three day rally is setting where? Johnny, yes, you're absolutely correct. He's got his sign up, 382. Johnny, you're spot on today, buddy. Keep up the good work. So anyway, sometimes they work, sometimes they don't. On Monday, the 382s got blown out of the water so fast it looked like a torpedo that had backfired for heaven's sakes. But it didn't work, you know? But the others sometimes they work. Now we're gonna go back over to the UK and this is basically, the London market is basically all foreign stocks in this footsie. That's why it trades, not very many people trade it, but because it's UK, we have so many friends there. The patterns are good, but it's, you know, basically it's a futures, but it's like an ETF. And that's what you can see the patterns here. We're running up against the 382 here also. So those are just a few of the things that we're looking at here today. So I hope I made myself clear, trade what you see, not what you think, because if you got that going for you, you got something good, because do you know exactly where you stand? Because when these patterns fail, it's telling you that you are wrong. And so don't be long. And if you're short, just stay out of the way because when these things fail folks, they fail big time. And that's the whole key. You don't wanna get involved in that. So let's remind ourselves. It's not how much money you make. It's how much money you don't lose. Now, we're gonna have a break here coming up very, very shortly with our good friend Jeff Hughes of Alpha Insights. And Jeff is always great. He's got some really good things. Tomorrow will be Peter Elides. On Monday, we'll have Bill Meridian of Cycles Research. It's been a while since we've had Bill on. He's back in the USA as Bruce Springsteen would say. We'll be right back with Jeff Hughes, Alpha Insights. May God bless. If you wanna take advantage of this sector, now is the time to subscribe to my Gold Report. The Gold Report is a comprehensive look at the metals sector, as well as the markets that move gold, which is the currency and bond markets. 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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. This segment is brought to you by Think or Swim. For more information, just click the Think or Swim banner on the front page of TFNN.com. Okay, we're back, folks, and I believe we have Jeff Huge, Alpha Insights on the line fresh from his trip to Europe. Jeff, how are you doing? I'm doing real well. How are you doing, Larry? Pretty good. Did you get any insight information over there? I heard that the queen passed away. Is that true? You might be right about that. Yeah, it was on TV just a bit. Anyway, did you get any insight while you were over there? Well, you know, I did, you know, obviously, we shouldn't underestimate the fragility of the economic situation in Europe right now, particularly their banking and financial system, which I think we did see a bit of a shakeup, especially over in the UK. When we found out who was swimming naked when the tide went out, it happened to be their national pension fund, which had levered up their fixed income portfolio and created a bunch of interest rate swaps against it. And when the margin clerk started calling, the Bank of England had to step in and backstop the entire system. Wow. Well, listen, your first chart today, it goes back to the same thing, 10 year treasury yields. You wanna talk about that, because you've been very spot on in this. So what are you thinking? Well, I do. I think that 10 year treasury yields are probably the key to everything. A lot of people are talking about the dollar, et cetera. Well, the dollar's just following rates higher. Money is flowing into the US and US assets are basically deemed to be the safe haven at this point. And my suspicion is that this breakout of a 40 year downtrend in 10 year bond yields has much, much higher to go. It might not go straight up. We've got a bearish call on the market right now in stocks. And I think if stocks do go the direction that we're looking for in 2023, then we could see money pour into treasuries on a rotational basis, the longer term looking out at least a couple of years. I think the wind is gonna be in our face in terms of the bond market. And I think rates have much for the go, possibly as high as 6%. Wow. Now the next one is very interesting because it's showing the breadth of the market. And my goodness, it certainly doesn't look good even with this two, three day rally that we've had. It doesn't look too good. No, it doesn't. Cumulative net new highs are just absolutely collapsing. They're much worse than the NASDAQ market, which is the lower frame. We've taken out initial support, trend support, now critical support, and we're just in a free fall. But there's a lot of weak secondary stocks in that market and a lot of money has rotated into higher quality stocks as a place to hide. And you're seeing that in the NYSE data where we've just broken initial chart support after first breaking trend support. But I think that the NYSE market is gonna follow the NASDAQ straight down. It does not look good, Larry. Yeah, that certainly doesn't. You know, I mean, and not only that, there's very little fear in the market. From my perspective and what I, you know, I talked to some people, you know, and they basically say, well, we're gonna buy out a dip and stuff like that. And I think that's great that they do, but boy, there's just not anything like there was in 2008 and especially in 2000 when we had the dotcom. You remember those folks, they didn't even know what hit them till it was down 80%. Well, I think that the current cohort of bullish investors will probably fall into that same camp eventually. This next one's very interesting to me, Jeff, because I don't look at liquidity too much. Do you wanna explain to me and the folks what you're talking about liquidity drying up? Yeah, you know, as many people who know me from my prior life would know as I ran a trading desk at Merrill Lynch for a number of years back in the 90s. And that was, you know, the fast 90s with the tech boom. And you know, when we got big orders to sell, we would call the companies, okay? We'd call up Medtronic and let them know we got 500,000 shares for sale from an institutional investor. And Medtronic would buy their own stock back. And as you know, corporations have really been funding most of the liquidity in the market. They've levered up their balance sheets. They've used that debt to buy their equity back and they've been doing it at an extraordinary rate. That is drying up. We've got interest rates turning up the way they have. Corporations are not as active as they were and we're seeing it show up in the volume numbers. What we're looking at right here on the top frame is NYSE total volume on a monthly basis going back 15 years. And on the bottom frame, NASDAQ, and you can see this huge spike up in volume since around 2020 with all the liquidity that was pumped into the system. But that is fading fast in the last really 12 months. We can look back to November of last year where it peaked in the NASDAQ and you know, it's come steadily down. We did have a couple of spike up months but it was mostly selling, okay? And you can see the free fall in price that came with it. I mean, the market is an inch deep and a mile wide in terms of its liquidity. You go and try and sell 100,000 shares and you will take the market down 50 basis points, no problem. Wow, I know, this is when you stop and listen to what Jeff said, folks. I mean, the company's buying back their own stocks and they're double leveraged. And that is really dangerous in the market that's going down. That's for sure. Holy cow. Okay, next one. As the liquidity dries up, I just expect there to be no bid for stocks. There's gonna be a vacuum there at some point and the move to the downside is gonna probably rival what we saw in 1987 when that day comes. Well, the next one is the breadth through us now. Is this also related to the liquidity, Jeff? Because I really don't follow these indices. So if you could explain to me the difference between the breadth and the liquidity. Sure, so it's totally unrelated. I'll just tell you what, this is an indicator that was developed by a guy named Humphrey Lloyd. You might remember him from seven years. Sure, I met him before, yes. Yeah, yeah, NYSC Moving Balance System was his book. He wrote in 1976 and he came up with this idea that you need to have these super overbought days. His indicator basically takes this moving balance to buy and when it gets down to 10-day moving average base, when it gets to over 80%, that's a super overbought condition and it tends to represent a very credible breadth thrust, meaning that all stocks are going up and it indicates a very reliable long-term buy signal. Well, as you can see, they're very rare. In fact, we haven't had one since the early 90s, right? And in fact, the closest we got was the last two spikes, one which occurred in November of 2021 after Pfizer announced that they had come up with a vaccine for COVID, right? And the one prior to that was right after the Christmas Eve low in 2018. And so, we got these big credible breadth thrusts, nearly 80%, and they resulted in pretty durable rallies. Well, everybody's talking about how this two-day rally we had off the September 30th low is the beginning of a new, we've doubled bottomed and we're going into a new bull market. Well, this isn't even showing up in anything that matters. We're at 55% on the breadth thrust measure. It's not even close to a level that we would consider to be a credible breadth thrust or indicative of some sort of a reliable long-term buy signal. So, nothing to really pay attention to at this point. I'll have to go back and look at this. Humphrey Lloyd was a physician. I do remember that. I had dinner with him once in Chicago with a couple other people, a very nice man. But he died very young. He was only in his 50s, I think, when he passed away because it's been a long time, but thanks for bringing that up. I'll have to take a look at it again. Now, the next one we're gonna be taking a look at here if you'll just stay with me one more second. We've got the break coming up. So, we're gonna kill a little time here because this next one is extremely important, whether all important because your charge is so great. But when we come back, we're gonna talk about the new highs and new lows. Okay, Jeff? You bet. We'll be right back, folks. Jeff Hughes of Alpha Insight is our guest today. You might think that if you want to be successful at trading in the stock market, you're going to need a crystal ball. After all, it's impossible to predict the future, right? Like any endeavor in life, before you decide it's impossible, get some advice from the experts. You might find that it's not so impossible after all. For daily market overviews that give you direction on key indices, selective stocks and commodities, subscribe to the opening call newsletter at tfnn.com. 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It's my view that the June lows were primary wave one and that the rally into the August 16th high was primary wave two. That means that we're in the early innings of primary wave three down, which should be a very powerful plunge. And it looks like it is starting out to be that right now. We've got a lot of rhetoric from talking heads in the financial media talking about how the market double bottomed on, you know, September 30th and that this is going to break out, seasonal patterns, favor all this stuff. I don't think that's going to play out this way. This looks like wave one down at a intermediate degree, probably ended September 6th. Then we got a intermediate wave two, which rallied up into that September 12th high. Then the collapse into the September 30th low looks like minor wave one. And the rally that we're in right now looks like minor wave two and it might have already ended. We think it's possible. We'd give it a little bit more latitude. We think it could possibly get as much as the 50% retracement, which would take us to about 3850. And that would run right into that downward sloping trend line. But I don't know that it's going to get there. I don't think it will. My view is that we're going lower and we're going to go hard down. Once we take out the September 30th lows, I expect an utter collapse. I already laid out the conditions. There's no liquidity in the market. And that is why there will be no bid for stocks once we break that September 30th low. Now that's a scary situation if in fact we see that because I saw that in October of 1987, but that was and ended up being the best buying opportunity of the 1980s. But here's the Elliott Wave account that you have, which I can see that clearly enough. Now when I try to do it myself, I come up with all kinds of different numbers. So tell the folks what you're looking at here as far as targets. Yeah, it's a subjective approach. And we've looked at the advance coming off the March 2009 low as being cycle wave five and possibly the end of a 90 year super cycle that began back in 1932. And so the 2022 high in January of this year really puts an end to a very, very large degree advance. Certainly cycle degree, possibly super cycle degree. And so what we're looking at is the decline that will retrace at least 61.8% of that 2009 advance. And we're expecting it to unfold in five waves down. And if it does, then that would confirm our suspicion that this is also the end of super cycle wave three because five waves down is the beginning of a new downward trend at cycle degree, which means that we would then get some kind of a recovery bounce that would be a B wave and then we'd have a final C wave at least. So the first wave down is wave A. And Larry, we think it's gonna unfold in three more waves. The first one will be primary wave three, which could carry down to around 2750 to 2400 range. Then we should feel a shallow lateral consolidation, which will be wave four to the upside and then a final wave five plunge that should carry the S&P down to the 618% retracement, which comes in at 2250. That's also around the 200 month simple moving average and a prior fourth wave extreme low from that cycle wave advance. And our view is that will terminate cycle wave A down and that will set us up for a counter trend move that could retrace about 50% of that entire decline before we see wave C carry to new lows in order to complete super cycle wave four. That entire process could take years to unfold. We expect somewhere in the neighborhood of around three years minimum. Okay, well, we'll certainly have you on again once before three years, that's for sure. Now the next one, you've got a position that's actually long, that's actually working pretty good. This is PG&E. Every now and then we're able to find opportunities even in a bear market to make money on the long side. PG&E Corp, which is Pacific Gas and Electric, the West Coast Utility, they primarily produce nuclear power. And so they are the largest clean energy producer on the West Coast, nuclear power. And the stock was recently added back to the S&P 500 last week. And they're gonna report earnings, I believe, at the end of the month, around the 27th or so of October. I think the breakout that we see here above 13, 13 and a half carries to around 18 and a half. The stock is now 15 as we speak. This was actually our top trading idea of the week. It went out to our newsletter members and it's a premium service that we offer related to our newsletter. We call it Alpha Insights Idea Generator Lab. And this was yesterday's top idea, it's still fresh. So I think that this stock has legs to 1850, possibly even higher, maybe $23 would be our secondary target. But at this point, a very strong stock with strong relative strength and good fundamentals in the sense that there's a reason people have to buy it. It's now part of a new index. And it takes a while for these indexers to bring it into the fold. Well, I'm certainly familiar with PG&E because my daughter Jill lives four miles from Diablo Canyon. And when they were building Diablo Canyon 30 years ago, I lived about a mile from it. So we were right there at Avila Beach when they were building it. But I'm very familiar with PG&E. Now, we've got to tell the folks about, we've got a break coming up. We have plenty of time to cover this next part because this is the part where you can get in touch with Jeff and get involved with his free newsletter and how to reach him and stuff like that. And because he's a real pro in this business, we're lucky to have him on the show. But tell the folks about your free newsletter, Jeff. Yeah, we started publishing this newsletter a little more than a year ago. We're actually going to put out our 14th issue on Saturday. And it's actually called Huge Insights to the Big Picture. This is where we kind of lay out all the details in a nice narrative with lots of charts and explaining exactly what's going on in the world. And, you know, it's free. You can subscribe by going to my website at JWHinvestment.com right at the top of the middle. There's a tab that says newsletter. Click on it. You'll see a picture like this pop up in a spot where you can just type your email in and press subscribe now and you'll be subscribed. And it'll end up in your email box on Saturday. There's no charge for this. We actually get a lot of responses from our readers saying, hey, this is great, Jeff. I really love your stuff. But how do I invest? What should I buy? And so we created this upgraded service for members. You pay $10 a month and you can actually get our top trade idea every week. And that service again is called Alpha Insights Idea Generator Lab. And just to remind you, the idea I just mentioned, PG&E was this past week's idea. So give you a sample of what to expect. If you're an investor who likes a fresh new idea once a week, we can provide that. And we don't charge a ton. It's $10 a month. It's like a cup of coffee every week, basically. Yeah, we're half a cup if you're at McDonald's or at Starbucks, but who knows. Hey, listen, we want to thank you for being with us. And we'll have you on again in a few weeks like we try to do. And we're glad to have you back in USA being safe and everything. So stay on that green side of the grass, live in the dream, my friend. You're a class act. We want to keep you with us. Thanks, Larry. I appreciate it. You have a great one. Take care. You bet. Jeff Hughes, folks, Alpha Insights. Stay tuned, folks. We'll wrap this up and get ready for Peter Eliade's Tomorrow. 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Don't forget, you can listen to tfnn live on your mobile device 24 hours per day. Go to tfnn.com and hit Watch Tiger TV. That's tfnn.com and hit Watch Tiger TV. Okay, folks, had a question from one of our listeners and that is to talk about the Apple. We brought this up to your attention on Friday. You'll notice that we had a price objective of $39 a share. The low was at $37.46 last Friday and we had a very strong rally the first three days. Folks, look what happened here. We had a little four-day rally right here. Let's count the days, Johnny. Monday, Tuesday, Wednesday. Oh, today's the fourth day and where did we get to? We got to the 3-8-2 of the last move up in here, up at $146.50. So this is very, very important where we are here in Apple, just like we are with the rest of the market. Now, this is really a bull market. This thing is going to explode out of here. It's just going to go like a rocket. It's not going to go to the 3-8-2. It's going to go blasting through. So far, these blasting through valleys have stopped right where they should have and they didn't go very far. So that's why I'm a little skeptical in here, very nervous, short. Like they say, being short and scared to death, well, that's the way you have to be sometimes and that's me. So the market could easily reverse today or tomorrow. Have a monster day up, taking out $38.20 and we'd be on our way to probably a 618 retracement of the whole move down from January 4th. But I don't see that coming. And when you listen to what Jeff had to say today about breath and liquidity, that's enough to scare you. And if you're not scared, you should be running scared and loving it, as they say in the trade with Mr. Don Adams. So what if I really stand up guy, terrible poker player but a great human being. Anyway, folks, that's it for today. Tomorrow, I'll guest will be Peter Lighty. Stay tuned. He'll start early in the morning at 10 o'clock. He'll be probably most of the hour or hour much he wants of it. And we'll have a lot of great information on the cycles that he's looking at. And of course, he's been bearish and that's what he's watching at here too. So live every day in an attitude of gratitude and may God bless and stay on the green side of the grass and do something nice for your neighbors because they need help too.