 The following is a presentation of TFNN. Trading 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 excellent edition of the Power Trading Hour with me, your humble, lovable and squeezibly soft host as always, we'd like to come to you at this time. The following takes place between 2 p.m. and 3 p.m. Listening. Listening. Listening. Nope. Oh, there we are. Slow on the uptake. Okay, so what do we have going on today? Well, if you listen to the last five, six days, maybe even seven days of the show, we were talking about a pattern and how it develops. That pattern was taught to me by Joe DiNappoli early around 2000, 2001. And it doesn't happen very often. It happens in commodities a great deal, more than it happens in stocks, kind of like Gartley's. Rare as hens teeth comparatively for the amount of time you find them in commodities. I think commodities, you have kind of a finite amount of things that can go on. In equities, you have a lot more of hocus pocus and deals in the back. Still have market operators in commodities, but their options are probably a whole lot less in commodities than there are in equities sometimes. We talked about for months all the stocks that had gone up, tested the highs on lighter volume, pulled back into the trading range. That's not a good sign. It doesn't mean that the market's going higher. Actually, just the opposite kind of makes the market look rather weak. I thought it was rather weak already, much less anything happened. I think the only thing that happened were news events actually moving the market a lot faster than a lot of people may have thought. When you looked at the options, as I said this morning in my newsletter, options were pointing to something around 2850 on the S&P cash. We're kind of getting down around that area. I think we've got the bounce. What I would love to see is a test tomorrow in the first half of the day, maybe before two o'clock of about 2850. I think that might set the lows for options expiration. I think we have some other issues going on in the market. One, the IPOs are coming out. This will be forgotten a week from now if they can get this thing back up to 2,900. They'll just say it was a passing fancy, little market gas, nothing a little rollades wouldn't fix. But you know what? If they can get enough people short and then gun the market a bit and run those shorts, maybe they can get these over bloated, what they call unicorns in Silicon Valley. Those are stocks that have an excess of a billion dollar valuation before they ever go public. Lift, Uber, handful of other ones, pretty much massively overpriced. And they gotta get these things out and hook or crook. So if the market's already weak, they'll just get the weakness out of the way. And one of the reasons why the acceleration to the downside is there. But I'll look at the options again tonight. Last night, I knew that we'd done the right things for holding our bearish positions in the market. I did say last Friday that we'd gone with the nuclear option and we bought the UVXY calls at the 34 calls for the 17th. And those took off like a rocket today up 21% on just the UVXY are trades though, we bought the calls for about buck 30 and maybe a little bit better. I had some folks out there telling me today that they sold at 650 to seven bucks. I said, anything above 610, probably a good time to sell. So what, 5, 600% move here in about three days. Not a bad living if you can get it. The problem is that many people go to the well on these highly volatile stocks or ETFs like the UVXY far too often. I bring it up and everybody ignores me. I send out the links. I hope the people read it, but if you're going to play any of these volatility trades, you need to know the math behind the VIX because all of these things derive off the VIX. The VIX is not what everybody says it is. It is a direct reflection of what people will pay or premiums on out of the money puts and calls for those stocks in the S&P 500. Therefore, it's a fairly decent gauge on what people think the forward movement of the market's going to be either up or down. We've gotten down to some ridiculously low values. We also got for the VIX. We also got a place where the almost every put and call was vastly underpriced for probably conditions that were coming out. But you know what? That's nothing new. The market was always efficient. Not Bill Gates, William Buffett said he'd be out on the corner with a tin cup and with pencils in it. There are a lot of times when people go nuts. They sell stuff that's vastly underpriced or they buy stuff massively overpriced. And we've got one of those days. Now, I went ahead and took the money early. As I said at the end of almost every show, that is sell when you can, not when you have to. That's to remind me the fact that even though the worst thing a newsletter writer can do is take money early and leave money on the table, the absolute best thing a trader can do is take the money when it's available for the trade implodes on him. So we've got a lot of money. We have a couple of other positions. I did like the movement in gold. It's starting to move a little bit, but way too slow. I had May 17th calls on it too. So we sold it later in the day so far. Still have another one that's an atomic weapon and that's based on what happens longer term. And that is if things happen horribly in the US or as I like to say it, if we get a cold in the US almost everybody around the world gets Ebola. And we'll continue to look at that. Anyway, we're almost up to the first break. You got plenty of time to give me a call at 877-927-6648. You can email me at path at tfnn.com. And of course, we'll get to some history. We'll look at some charts and I'll answer some questions that we already have. But we should be going to break right now. Where's that music? Can't hear anything. There it is. Okay. 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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Details on the Tiger's Den are on the front page of TFNN.com. TFNN has launched our brand-new website. You can still visit us at the same TFNN.com URL, but when you do, you'll see a new and improved homepage with a much simpler navigation, whether you're watching Tiger TV live in high definition or just accessing your newsletter subscriptions. We even have new pricing in six months and yearly options. Check out the new TFNN.com now and experience all the upgrades. TFNN.com, educating investors. Call now, toll free at 1-877-927-6648 internationally at 727-873-7618. And we're back. Okay, so why don't we gonna do this? I got some emails about what's going on and how I set up those UVX, UVXY trades. We bring this up from time to time because it is literally one of these things that does not come along all the time. And the worst thing a trader can do is play these a great deal. You've got an edge, a very small amount of the time. And we'll talk about that. Let's do a little history and we'll get in on the rest of it. And it's all just a little bit of history repeating. On this day in 1896, Dr. H.H. Holmes, America's first well-known serial killers is hanged in Philadelphia, that's actually in Pennsylvania. Although his criminal exploits were just as extensive and occurred during the same time period as Jack the Ripper, the Arch Fiend, as Holmes was known, killed, they think 30 or 40 people, I think last time I heard about this guy. He'd built a home that had soundproof rooms and he could turn on the natural gas to his home and fill rooms with it to kill folks off. He was, he liked to kill them. He liked to use them once they were dead. What he would do was take life insurance policies out on young women and say that he was married to some woman. After he had the policy for a year, year and a half, two years, he would kill them and then drag the body up there. And of course, he was never married to these gals, but he had all the paperwork. Back then it was easy to do a lot of that stuff, but if you hear a lot of people bragging about Jack the Ripper in England, you can tell him we had Mr. Holmes killed a lot more people and made money on it. So I gotta think fairly good there. What else is going on? We'll get to pop up a chart here. Come on, there we go. We'll pop up my chart. We'll go through a lot more of these charts, but I do want to answer this question because we bring it up from time to time. And a lot of people will say, you're just gonna go broke if you trade UVXY. And my answer is if you're a dummy and you don't read the white paper from the CBOE on it, you will. Unless you both read it and understand what the UVXY is, you will have real trouble. If you want the link to that PDF from the CBOE that it has the formulas, then you should look at it, but it is a mathematical trade in there. And my whole options theory for making money is that I've gotta make five or six or 700% on an options trade for the most part. And that is to make up for the times that most of the options will go to zero. And overall at the end of the year, if I can do 250% or about 500 on them, then I'm happy. But again, if you don't have asymmetrical trades and options, you're gonna die too. I don't like playing spreads. Spreads are great when the market's going nowhere, but at the same time, you've got kind of a decent amount of risk on if it jumps the creek or breaks through ice. And that is something I liked. I always liked the idea since I read about Fooled by Randomness by Nassim Tlaib about how important it is to be hitting the home runs and the called strikes will take care of themselves. Anyway, we're off 55 points on the S&P cash. As I said, my target somewhere around 2850, we looked at the, or I looked at the options last night and that was something that really kind of stuck out. I suspect that if they get enough people short today that we are fairly close to a bottom, maybe a day or so away. Oh, should I sing that? The sun will come out too much. Anyway, that is and could set up the low for options expiration through the next week. I'm looking as the 10th is when they're supposed to start getting the IPOs out. So I'm suspecting what they're gonna do is try to drag it down a little bit more and then have a huge end of day tomorrow or a huge end of day on the ninth to push this market back up and get everybody going. But like I said, we got a couple of different streams going on. One is a lot of people were, it did have to sell other shares which made the market fairly weak already. They had to sell those shares to buy these new IPOs. This is like sucking out all the money that comes in out of all the 401Ks at the end of the month. And I mean, it's a lot of money for what they're raising. We get 10, 15 billion in every month. Suddenly you're taking that out. Makes it fairly simple to figure out why the market is acting the way it does. Anyway, as far as volume, we have finally picked up on volume. We're doing about 4.7 billion shares as we start the show. Well, actually we're about halfway through the show. But it is fairly decent. Now, is there a great deal lower to be had? I don't think so. I think, and we'll talk about it maybe in the next segment, I think that cooler heads will prevail. China probably, for every dollar we lose on this, China's gonna lose about $4. And as long as that math continues to work out, I think it behooves them to settle this sooner rather than later. I also have one thing, and you can call me about it. And that is, what would we do other than nothing? Which seems to be the prevailing theory is to continue to do nothing about trade issues with China and them stealing our intellectual property. If we do nothing, a policy of appeasement, a policy of capitulation, where does it end? And if anybody has, if whatever you don't like about the current president, my question is, how would you solve it? Because I hear a lot of flack from the cheap seats, but I don't hear a lot of solutions. And one solution is if you're bleeding, you better stop it, because eventually you won't have any blood left. Anyway, I'm looking for new opinions to open my eyes. I've got some emails that said that maybe my eyes are not open. I'm just not exactly sure to what. I would love to hear the solution because I'm not getting a lot other than, like I said, the cheap seats out there where they have the peanuts. Anyway, we'll look at a bunch of stocks after the bottom of the hour and we'll continue to kind of wrap up this show today looking at maybe potential buys in the next couple of days, maybe a nice pop, and there's the music, okay? Just very light today, which is fine, but I still have to listen. Get a minute. Path of least resistance is David White's daily trading newsletter. And if you're looking for active trading ideas, then now's 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 Lease 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 Lease 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 Lease 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, 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, go get them folks. TFNN is excited about our new software charting program, The Art of Timing the Trade Charts. 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 Charts allows you to scan thousands of stocks for Fibonacci formation setups, including guardleafs, ABCs, butterflies, and much more. The Art of Timing the Trade Charts is designed to help you when scouring the markets for stocks just beginning to form the trading patterns that many investors spend days, weeks, or even months searching to find. And right now, we're offering licenses available at only $79 a month. We are so confident that you're gonna 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. Okay, so we're gonna start looking at some charts here today. See if there's anything out here that really rings a bell. Like I said, my number for 2850 for options expiration came from looking at the options curves. I looked at about, I don't know, 150 stocks last night. They all showed kind of lower. Not a lot of people willing to get in most of these stocks significantly different. Now, if you look at it, the options do kind of line up with the charts. And that is that there's this gap right just at the hair of 2850 on the S&P cash. You really didn't have any volume on that move. So I continue to see that that's kind of about it. You might go a little lower, 2845 maybe, somewhere in that area. We've got some fairly decent volume already today. We're gonna exceed, or we already probably have exceeded yesterday's volume in most of the indexes in the NYSE and the NASDAQ. So there's not a lot going on there to take a look at. But you've got that gap there. You also have the opportunity to go one lower, which is 2850. But again, we are gonna probably price those IPOs, or at least a couple of them out for Friday, most likely either Wednesday night or Thursday. So if there's gonna be some good news in this market or tons of upgrades or rainbows and unicorns, it's all gonna be coming out here in a day or so. This is a huge amount of money that these guys make. Doesn't mean that the end is over, but it does mean that I think that there's gonna be a lot of people pushing on this market and the last couple of days of this week. But you do have a couple of targets out there. Now, maybe we hit it early tomorrow morning, we gap down and all the volume goes away and then that's it. We've had our big retrace off this top, but a little bit more volume today. It's gonna be a little tougher to do that, but we'll continue to keep an eye on it. Okay, what else do we have? I wanna look at a couple of earnings. After the bell last night, GWPH was and is the only legal marijuana company in the world. It actually sells it as a pharmaceutical drug. They are, they still are, I think, the only legal company that can do research. And they had a huge pop, gave it up today, but I have a feeling that's a lot more about the market. Again, when markets head south, it's much more important to sell what you can, not to sell what you can. If you have a bunch of shares that no one wants, all you're gonna do is destroy the price by trying to sell them today. So, generally, if you have something that actually is fairly good, and the earnings were fairly good on this, or at least the earnings outlook was on GWPH, you get this big pop, but then, of course, it gives it all up. You've got some fairly decent volume. So, if we do find a bottom here in the next few days, would be kind of interesting to take a look at that one. There were a couple other ones out here. A shoe that I hate, I don't know. They just give me the creeps. I don't know. The plastic shoes, I just, I've never liked them. Let me put it that way. But a lot of people do, and that are Crocs. CROX is a symbol on this one. Had good earnings too, went to $30.91, and, you know, did a big reversal. But again, probably a lot more market-oriented, but even on a bad open, they did drive this shortly higher. Some of the other ones, in fact, let me pop over here and take a look at these earnings and see how they're doing. Okay, the one getting kind of beat up the worst today is glue, and they make mobile applications, glue mobile. Not surprised, this thing is always seems to have a lot of action come earnings. It was a penny stock for a very long time, but pretty much the worst hit today off about 18%. And right back into the sport level, at here at $9, I wouldn't be shorting a $9 stock or a $10 stock, but it was the biggest mover. Another one out here to the downside today is the Mosaic Company. Pretty big pop down, let's go a little bit lower than that. You're back to the support line, that's the April 4th, $22.85, five million shares, and you already got six million shares through that today. There's a gap that extends all the way down to 21 bucks. On the positive side of the market, the big winner was Solar Edge, and I'd looked at these companies for a while and I probably made a mistake not looking at them closer on this. These guys make inverters, and whether you're not, whether you're making solar cells for the roofs of houses or you're making an electric car and you got to take that battery power and turn it into AC for the electric motors in that car, these inverters, they're pretty big, they have to dissipate a lot of heat. There's a lot of engineering in it. You have to make sure that water doesn't get in these things and burn up the entire cars. We see a lot of Teslas catch on fire, but you actually have a huge pop up on a horrible day and it's holding it. As long as you continue to make DC current from anything from batteries to solar cells and of course, fuel cells, it all means that a lot of this stuff has to be turned back into AC to use it. These guys make 90% or 92% efficient inverters that do that for you. And I've had a couple of people ask me more about fuel cells. I think we'll talk to Tom about that on Friday, but it certainly is an interesting market, but business is good. Probably business will continue to be good for these guys for a while at solar edge. And I don't know why, I guess probably because they made inverters for solar cells to begin with, but the real money that these guys are making now are all the deals that they've been making with car manufacturers to design and actually produce these giant inverters, put off a lot of heat, which is always the byproduct of electricity, but kind of an interesting move out here. KOHU, another big winner of the day that is trading out at $18.66 cents today, came off the bottom fairly hot. Let's go ahead and get the profile on this and see on this one. Come on, where's that? Why don't we have it? Man, no profile, huh? I don't know why it's missing. Oh, there it is. Subsidies provide semiconductor test and inspection handlers, microelectric mechanical system, test modules, test contracts, thermal subsystems, semiconductor automated test equipment, a lot of stuff. Is that music out here? It is. Anyway, nice pop on this one, low volume stock, except for today though. We'll be back in a minute. If you're in the CD market and looking for a secure investment, the Tiger First Mortgage Program may work for you. The security for these first mortgages are building lots in the Tax Opportunity Zone in St. Petersburg, Florida. The Tax Act of 2018 set up tax-free zones across the country where you can build and hold fatenias and pay no tax on the profits, which makes these lots valuable. The investment is anywhere from $30,000 to $75,000. The interest paid is 7% yearly paid on a monthly basis. According to bankrate.com, the best rate for a four-year CD in the country as of February 20th is 3.1%. 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The Prospectus or Summary Prospectus should be read carefully before investing. An investment in the funds is subject to risk including the possible loss of principal. The funds are designed to be utilized only by sophisticated investors such as traders and active investors. Distributor, Four Side Fund Services, LLC. 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 for the latest market information. And had a good question in the den here from John from Philadelphia. He says, Dave, please explain your psychological thought process with your calls at UVXY yesterday that we bought Friday. You had an immediate win come Monday open. How did you hang on to them when the SPX rallied hard Monday one through four? Because like I said, this trade is a mathematical trade. And you have to know that even if you're on the wrong side come Tuesday that because the VIX is two different moving averages, it's an oscillator, one's 24 days and one's 26 days that you can hold at least and know that you're not going to get cream the next day because of the data that follows it. The VIX is actually set in history, right? It's not the VIX of what happens today. It's the VIX of what's happened in the last 24 days and 36 days depending on what day of the week it is. So it is a mathematical trade. You have to know that you've got all the wind and the sails behind you. You can't have kind of a half of a trade setup. You've got to wait until it's perfect and know that it will take a couple of days to come out of it. It's not going to be over in a day or two. And yeah, well, you feel a little anxious, you will, but this is some of the stuff that I've been working on for two years with machine learning and it's gotten fairly good. That's kept me out of playing it too much. I know when I have an edge in the market, I know what I don't. Didn't mean the trade was going to work out, but it did say that the odds of the trade working out were about as good as they were ever going to get. I also very much liked the way the options were setting up the last couple of days of last week and I knew that those wouldn't turn on a dime. When I looked at the data yesterday and then last night for options. In fact, let me pop that up because it's in my newsletter every day. I've got a couple of things that I saw that made me think that there was more downside. Generally, when everybody decides to jump up and down and where is that? Put call ratio earnings. Where's that at? Put call short sale. Put call ratio. Here it is. Let me bring this up. I put the put call ratios for both the VIX and the equities for the S&P in and we had a horrible day yesterday and no one was buying downside protection. It was fairly light. In fact, we had a lot more downside protection on Friday being bought than we did on Monday. If normally what you're going to find is you're going to get big bounces when everybody finally does short and 63% on the put call ratio for the equities isn't a whole lot. 69% on the VIX wasn't that much. In fact, it was 82 on Friday. People were actually buying a lot on Friday when it actually happened. Not so much yesterday. Now the first big day that we see this thing back up at about 80 or 90 normally you get a bounce out of the market. We got that on the 1st of May where you had a bunch of people that were a little bit early and of course what happens when you're early they bounce and take you out of the market. So looking at the put call ratios and one of the other things I was looking at that had me looking at this and I should have not closed that window was to where's it at here was the short sellers yesterday. When this thing went down no one was willing to buy a lot of downside protection. A lot of times when things are going rough it's not uncommon to see daily short sale numbers in the 30% or 35% or even 40% on some stocks when they crater. The most hated stocks yesterday in the Nasdaq only one was able to get to 22%. So I put this in the newsletter every day too. So you kind of know what the trend's going. Now Western Union it was hated yesterday 42% of all the shares traded were short sells and I didn't even look at that stock maybe we can look at it in a minute but generally that means that you're probably fairly close to a bottom. People will short the most at the bottom they short the least at real tops. So if you're actually more bearish than I am at the moment probably the most bearish thing you can say was there weren't a lot of people shorting this market up at highs. The downside is the stocks that everybody continues to short are still the number one on the list like opine regularly about Apple being on the top of a shorted list with them still sitting on $250 billion that they can actually buy back their shares with any time. I think it's stupid Netflix a little less easy but again I tried to look for people not shorting stuff not people shorting it that's generally I try to go against the grain hopefully that answers the question on that but that's actually all in a model that I've worked on for years and again all those numbers you already know you know there's a 36 day moving average for the VIX and a 24 day moving average and the only thing you don't know is what today's coming out. So you can kind of it's kind of like looking at the advanced decline line. You know you kind of know what it's going to do to the McClellan oscillator tomorrow. You know you can kind of figure out the number before and whether you're going to get it now. I didn't talk a great deal about that either but that you know there's not just one thing that actually goes into my decisions on these but as long as the summation indexes are headed lower back let's do this was pop it up because I don't talk about enough because it's generally a much it's more of a medium term thing not a shorter term thing but when we look at the summation index kind of took a turn down yesterday and but at the same time we've had divergence now in the advanced decline line and the NASDAQ going back to March it's continued to move down on the summation index while the NASDAQ continued to move higher. Also looked at the volume yesterday the volume was fairly brisk in the morning and the recovery was fairly light. So there wasn't enough evidence I guess you kind of have to look at it as a jury would and that is that no you don't have any DNA evidence and five people all pointing the finger at the guy it's a maybe a little bit more nuanced in this case I didn't quite see him but man he had a lot of there was a lot of evidence against him that kind of piled up there's no kind of smoking gun DNA kind of thing where in fact I was reading about a court case today about how everybody thinks that someone's going to come from the CSI department and show them exactly who's guilty it just doesn't happen that way and it rarely happens in the stock market but everything I was talking about basically kind of lined up and as long as everything's lined up you kind of keep going with the flow that's about it anyway we'll wrap up the show in the last segment you still have plenty of time to give me a call at 877-927-6648 why I'm all wet you can email me at path at tfnn.com or put a message in the den which is how to time the markets I'm Steve Rhodes author of Mastering Probability and for the last 12 months 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 at what I do Sign up for Mastering Probability today by clicking on the newsletter tab on the homepage of tfnn.com and get immediate access to workshops where I take you step by step how to use an extraordinary set of tools as well as provide great market calls 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's 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 Match that with 14 years as a full-time trader and he's uniquely qualified to guide you through the light-speed world of ever-evolving high-tech If you're ready to ride the next big technology bull market for less than $40 per month log on to tfnn.com and get your two-week free trial to The Technology Insider Get in on the ground floor of the next big thing today Since 1984, Basil Chapman has been using the Chapman Wave methodology to advise traders of his expert market opinion While originally hand-drawing charts from the late 1970s into the 1980s, Basil noticed that prices under most circumstances virtually always had a certain number of legs to the upside before declining sharply Later, Basil found that computer software which included the standard market technical indicators enhanced the degree of accuracy in calling price turns as well as market trend calls Thus was born the Chapman Wave sequence Using the Chapman Wave methodology along with other indicators Basil Chapman advises his subscribers of his expert market opinion each market day with his opening call newsletter Right now you can get a two-week free trial to the opening call Basil's daily trading newsletter by visiting the front page of tfnn.com Cancel at any time during that trial and pay absolutely nothing Get your two-week free trial to Basil's newsletter of the opening call today by visiting tfnn.com Tom will bisect and dissect the markets The Tom O'Brien Show Next on TFNN And had a couple of questions during the break about the Summation Index It's been around since the 60s It's a good medium term look at the market Not something you can kind of trade on but if you're looking for the medium term or even for what traders would probably call the long term a month out or something It is incredibly good at spotting which way the market's going to turn It's been just going down kind of slightly out here It didn't fall apart a whole lot but it certainly did kind of come back down a bit And again, it's the divergence that you really want to be looking at This thing has kind of been going down why the market's going up And that's just a good sign that More stocks are closing lower than closing higher and the leadership gets narrow and eventually it's always that one last piece of straw that breaks the camel's back The only thing I don't understand is where did the camels get the straw? They're out there in the desert all the time No straw to be had I don't even see straw when they're in town much less anything Maybe there is straw around there I just don't see a lot but maybe they can carry a lot of straw I never really thought about it that much Anyway, we're going to look at the end of the show here at volumes again and we're already at 5.1 billion shares So there is a lot of volume But again, may just be trying to get all the negative stuff out of the market before tomorrow tomorrow night when they press Maybe they price Uber Thursday night I'm not exactly sure I know it's scheduled to come out on Friday That's the way they've set it all up So maybe they get this all out of the way Maybe they pop the market at 25 or 40 points or get it up to 2900 again or something for Friday I don't know what's going to happen but my guess is that there's going to be some news going to be somebody yakking going to be a tweet just going to pop this market but I don't think till after they get a lot of puts sold tomorrow morning and maybe even through tomorrow afternoon In the meantime, sell when you can or even sell your options while you can and we'll see you here tomorrow Same Bat Channel, same Bat Time