 The following is a presentation of TFNN. Power 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 exciting addition to the power trading hour with me, your humble, lovable and squeezebly 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. Well, we've been a little up. We've been a little bit down on the S&P cash. Nasdaq off 26, Russell's up one and a half. The Dow's up 116. I think that's mostly on Boeing's back. I saw that it was up 10 bucks earlier in the day, probably getting fairly, come on. There we go. Come on. Give. There we go. Yeah, it's up 10 bucks up two and a half percent. I suspect that's mostly that. I didn't look through the rest of it, but again, not much else happening out here in the broader markets other than the Nasdaq is down a little bit. One of the stocks that we did talk about the last few days, as I said, I didn't like the way these things were looking, starting to see them kind of rotate back into the trading range. So, we'll talk about that today. As the show starts, of course, we've got Elon Musk from Tesla, best to stand in front of a judge and tell him why and tell her, I guess it is, why what he, she told her told him to do he did anyway. And this all goes back to him. One tweet away being a little drunk and high on an airplane coming back and tweeting away that he had funding to buy out at $420 on Tesla. The only reason he did that was to run the shorts out. Unfortunately, it's illegal because you cannot lie as the head of a company and he did lie. There was no doubts about it. He talked to a few people, but there was no, as it will now be famous, funding secured as he put in his tweet. There was no funding secured. There was barely a conversation. And I think he kind of said, you know what, 420 and we probably sell out now and the Saudis looking to invest said, yeah, well, think about it. Well, that is not funding secured. You can't lie. The only thing he wanted to do is cause a huge short squeeze because he's got some real problems below about $240 and existential problems below $200 on Tesla. Mostly because he's jacked the price up with his own financial shenanigans. And those all come down. Now in the last, well, about a month ago, in fact, actually March 1st, he had to come up with a bunch of cash. He has borrowed $100 million on all his California housing. Probably not a good idea. And the question is, how is he going to raise the rest of the cash that he is needing now that the news came out this morning before the bell, which is why it's off almost 9% or 25 bucks that they are not making the production numbers in some time around 111130. We also saw some reports. They are unsubstantiated at the moment. But they look like Musk rented out a Tesla, I guess, probably by his order, rented out a abandoned, what we call it, I guess shopping mall, that's the way to put it, and hit all the cars, but not on the ground level where you could drive by and see them. He actually put them on the levels as high as you can get without being on the roof and seeing them. So literally, you have to kind of go inside the thing, and he got security guards. But apparently, he packed a bunch of cars in there that are not for sale. And the question is whether or not these are brand new cars or these are the cars that have come back on the lease that he's showing on his books, because if he actually sold them, what would happen while he wouldn't sell a new car? And two, if the car isn't what it's worth, then he has to mark down all the rest of the cars. So it is going to be one of those teachable moments where everybody shakes their fist at finances and basically, commonly, a thought of business practices financially. This is not a company where he can just magically snap his fingers and start to get 70% margins. If you've listened to my conversation with Tom O'Brien on Friday, we went through all the $9,000 a car that he's not going to get in the next nine months. As those things go away, in fact, he's going to lose another $3,500 July 1st. A lot of thought is that he was trying to get as many as these cars out. But probably the prediction of paying a lot more over the next nine or 10 months or 12 months in comparison to cars coming in from other companies, both foreign and domestic, those guys will still have up to $20,000, depending on the price of the car, in tax incentives to go up against a company that is running out of its tax incentives in most of the United States. And in fact, some of the cars were companies, countries where it's more popular like Norway and others that have a lot of hydroelectric power. They got more electricity than they know what to do with. Well, they're also kind of cutting back on all of those tax incentives to get people to go to that. And of course, those are the guys that made all their money off the North Sea Oil. So we have a lot of stuff going on. And again, that it'd be interesting if I wasn't on the air just to watch the stock price. My guess is that there's somebody in the back of that courtroom with a sitting there texting away to investors on the street telling them what the judge is and is not saying. But it was scheduled to start at two, I'm assuming it has. It got down to about $260 trading at $266.83. But certainly a real-time indication of what's going to happen today. But I don't know. I don't think there's a lot of mystery. Both Musk and the SEC said that there was no reason to have a hearing. So there's something the judge is looking for to hang her hat on. So if someone doesn't come back and try to over ruler, she's probably looking for something very specific. So we'll see what that is. But yeah, you got it. And the one thing that I come back over and over again is something that I heard several weeks ago. But it's been something that's been around. I write all this stuff down, by the way, for people that asked me. But I saw this and I knew there was one thing that was very important that Jim Chano said last fall. I just happened to stumble upon it. But he was talking about many of the tech companies. In tech, if you're perceived to be changing the world, it's okay to lie to investors. Jim Chano is a pretty smart guy. We'll be back in a minute. The Taz Profile Scanner is the most revolutionary piece of trading software that you will ever try. Wouldn't you like to approach the markets with confidence? 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TFNN.com educating investors. I forgot to put the 4.9 in there, didn't I? There we go. 1949. In real time. I fixed it. The North Atlantic Treaty Organization is established by 12 Western nations. The United States, Great Britain, France, Belgium, the Netherlands, Denmark, Italy, Luxembourg. Can't forget the massive military might of Luxembourg. Norway, Iceland, Canada, Portugal, the Military Alliance, which provided for a collective self-defense against Soviet aggression, greatly increased Americans influence in Europe. And of course, we're now seeing the Russians and the Chinese trying to invade Venezuela, keep a toehold in that state, which probably only going to do them worse. I don't know whether or not we're going to get involved or not, but a lot of people are saying, well, this could be the fire that starts World War III. I don't think we're going to let it or most people are going to let it get there. One of the things that Russians can't do along with the Chinese is project power militarily very far. Russians do have a little island off the Venezuela coast. They sent a couple of hundred thugs in over the last couple of days to go after anybody that even speaks ill about communism and Stalinism that Venezuela's had over the last 10 or 20 years. Of course, I continue to be amazed, but here might many people. In fact, what it was at Tuesday, many of the people elected in Chicago outright Stalinists. So we do have to kind of keep an eye on the fact that we have some people that are literally politically insane. And all you can do is go through history in 6,000 years to find out that it doesn't work. And they always say the same thing. It's different this time because we're running, and it's not. It's always ends up as one famous country. I'm trying to remember his name now. Anyway, communism starts with a gun to your head. Socialism ends with a gun to your head. And of course, we're all capitalists here because we trade and make money. We have no apologies for it. On this day in 1949, NATO starts, but maybe dissolving. We do not know. Okay, let's start looking at some charts. As I said yesterday, where is it at? Oh, that's not the one I wanted. I wanted this one. There we go. We started seeing some stocks start to roll over. And let's see, AD, if I can actually put it in there, AD, BE, let's do this, Adobe. And let's make it a little easier on everybody here. We'll just make it black and white. Started to roll over. I saw it yesterday, and that's one of the reasons why I thought that it was probably a good time to sell our trade in the IYT that did very well. Now, the question, I guess, comes back in for the rest of the day, if we're going to see more of these. Now, let's take a quick look at Boeing, too, but Adobe seemed to be the weakest of the bunch and really had a bad reaction to earnings. That was back on the 15th of March. And you came down, came down with a lot of volume. Rotated today, don't have volume yet, but it's not the end of the day. We also talked about how it's kind of natural to have a few days of pullback after fund buying, because basically they try to get the stocks up as high as possibly as they can to sell to the 401s, because those people have to buy at the first of the month. I always figured that there should be some kind of lottery where they're spread out all over the month, but hey, I'm not the president, although I would be willing to stand in and rule you all with an iron fist and a velvet glove. Just remember that. If need be, not saying I will, but if need be, I'd stand in. Anyway, there's a handful of these stocks that I saw yesterday that you just really didn't have any energy. You were going back up against the upper part of the trend line, and not uncommon to see kind of a little pullback. Now we get into options expiration starting next Wednesday, and it's not unexpected to see kind of a handful of days that are lower into that Wednesday, and then the bullish bias through it. Now, one of the things we have, of course, right now is other things prevailing in the market. What I wanted to also bring up today was housing sales in Florida. Now, I don't have a good chart to show you on it. All we have is numbers, and I heard them come out. I think it was just about lunchtime, but about a year ago, about 50% of the houses sold in Florida had to have the price reduced, at least once or twice to sell them. Now we're up over 80%, and in the leaders, both the East and West Coast leaders, both Miami and Tampa. Now, why is that important? Well, because most of the pullbacks in the larger markets for real estate started down in Florida. It seems to be one of the preeminent boom bust cycles that are around, and certainly it was significant what we have now. Now, some of the thoughts are that, especially in New York, is making an incredibly hard for their citizens to escape the Stalin-like tax structures that they have out there. Even going so far as saying, hey, you moved Florida, can't stop you there, but you know what, you're going to pay taxes just like you lived up here. Whether you like it or not, doesn't matter whether you never come back, you can fight us in court. We'll just drag you into court, and of course our some sycophantic judges will continue to get it, and that's kind of hurt some of that trade that we've had for the last three or four years of people moving out of the high-tax state, New Jersey, New York, and California, although we don't get as many Californians. Those guys tend to go more to the dry-arid places of Las Vegas, Nevada, and Texas for some reason, especially Austin for California folks. So we can see that. So there is a little bit of not silver lining, but kind of a dark lining on some fine clouds, at least in the housing business, and I think a little bit of that is just the hiccup we got from interest rates going higher. Now, of course, they're back lower, but we need, especially in Florida, to keep the bull in the China shop running down in Florida, we need a little bit more in that housing. Now, does that directly affect the stock market today? It does not. Could we get a turnaround in those numbers in the months ahead? Certainly anything is possible, but when I looked at the data at about noon, it was interesting. So we may have a tale of two cities, rich man, poor man, kind of thing where we have more industrial kinds of businesses doing a little bit less well, and technology and big things like Boeing and tech companies that don't rely a lot on tax structures to move forward. We'll be back in a minute. 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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 we're back up two points. Yeah, two points on the S&P cash. Dow's up 135. Nasdaq's down just 12. Russell's up two. Brutal oil down about $0.14. Gold up $0.60. Silver up a penny. And when we look at the all mighty dollar up $0.26, $0.96, $0.925. Certainly challenging that $97 level again. It certainly looked like a failure. But now, maybe a bear trap on the dollar. So got to keep an eye on that. But not having much effect in the broader markets at the moment. Nothing coming our way in earnings at least for the next few days. Just look ahead tomorrow. Nothing tomorrow, Monday. See anything? Well, I think we're closed on Monday, aren't we? Next Wednesday, we've got Delta Airlines before the bell. Bed, bath, and below after the bell. Anything else there? No, pretty spotty earnings. Not much going on. So again, we've talked about how that's probably going to be a little sideways in this market. Maybe a little bit of a pullback over the next few days. And then we're going to see whether we have any energy to go tackle the highs anytime soon. Why don't we go back to some of the lists that we were looking at earlier and see how they've developed. I wanted to look at a handful of these. Amgen, quick look at that. And you've got not a lot of volume, but it certainly, you spiked yesterday's high and reversed a little bit lower on light volume. What else do we have out here? Oh, yeah, I wanted to get to that. Amazon also, as I wanted to see how that didn't seem, apparently the divorce has gone through Jeff Bezos keeps 75% of all the shares and all 100% of his voting rights. So basically he is king. Nothing going to happen in there. But that 25%, I guess you can still sell. I read through the articles. I can't find much in the way there. A lot of people were thinking, well, she just goes to a fire sale and starts selling it all. Doesn't sound like that. But I don't know, $37 billion. So she sells a billion. I don't know if she'll be able to go through that in the next six months. She looks like a fairly normal woman, not the kind of extravagant diamond wearing kind, just for the regular running suit, lots of exercise, sun, eating banana kind of gal. So it doesn't look like she'd go through that money that quickly. Not like the girlfriend who kind of looked a little gold diggish, but you never know. Anyway, we're saying at these highs in Amazon, no real pullback. Don't know if you can say anything other than we're just a little lower. Certainly smacks of a trading range back down to about 1750 on Amazon. Let's take a look at a few other things. Well, let's see. I got some emails here. Oh, you can call me at 877-927-6648. You can email me at path at tfnn.com. And of course, you can always leave a message in the den, even though it's quiet. Very, very quiet. Well, hunting the rabbits. Let's take a look at Bowie and CNN. We were talking, a lot of people asked me about what to do and Bowie. And I said, you probably wanted to see something in that 105 area before, or 405 area before you thought about shorting. And again, going back into that on light volume, let's take a look and see what the shorts have been doing with Bowie in the last few days and see if they've been all over it. If they haven't been, you might have a play. If they're all over it. Now, I tell you what, yeah, pretty good indication. When shorts start shorting heavily, it's almost always a sign that the stock's going to go up at least in the short term. And we had 20% of all sales on the 28th were short sales. When you went to the 29th, you got to almost 25%. And then, of course, as soon as that happens, you start seeing the closing prices go higher. Now, the last couple of days, you're about 15%. But that probably still kind of high. So you want to look at probably at 405, 410 area before this thing probably hits resistance. Just too many shorts, probably easy to squeeze them out over the next couple of days, which would probably put a little bit of air in the sales of the Dow, but probably not much in the rest of everything. What else do we have? I want to look at some other stocks. I did not know. You know what we were doing with going through the NASDAQ yesterday and pointing some of these that look like they were ready to roll over. I wanted to look at FDX2, see if these were about ready to start breaking out. I don't see much in the way of these either. They're just up to resistance level. FedEx up today against this ledge that goes back to the first week of February, right in this... What was it? What are we going to call this? 185s, 187s. And the last time you were up here, you had about 1.8 million shares. Today, you're up with about 750,000 shares so far. So again, you continue to hold these highs as we went through a lot of these stocks yesterday. You're just not seeing the volume that says these things want to go higher. What else do we have in my list of stuff? 3M. I haven't looked at this one for a while. Also coming back and finishing up a gap down that started October 9th of last year. That was 3M shares on the downside. Two days ago, you had 1.4M shares. Yesterday, 1.6M shares. Today, about 830,000 shares so far with an hour and 20 minutes left to go in the day. So again, you continue on a lot of these stocks, not to significantly roll over, pull back on light volume, but get up to these highs, not see a lot of people wanting to buy the breakout. But certainly, every pullback gets bought or at least has up to this point. Let's see what else is out here that I wanted to keep a close eye on. Let's take a look at some others out here. Let's go back to this one. I think this is the list. Looked at Amgen. AOS, which is A.O. Smith. Again, we were talking about the weakness in the Florida housing market, at least since the beginning of the year, maybe even back into December. You got handful of dogeys out here. Now, they make hot water heaters and generally, of course, the new house, you're going to get a hot water heater or two in it, now depending on whether you live down here or up north. But the last big spike was the 25th of February. You had 2.2M shares. You got into it with 1.3M shares on the first, two days ago, 1M shares. Yesterday, 1M shares. Today, it's 550,000 shares. Again, most of these things are fairly good telegraphers of the profits to come. Just keep an eye on them. We don't have any significant signals yet, but a lot of shading around the corners at the moment and edges. We'll be back in just a minute. If you're in the CD market and looking for a secure investment, the Tiger First mortgage program may work for you. 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So we're getting a little bit of a fallback. But again, not much. Up three on the Russell. Question about crude has come in. I said that there was a bullish bias pretty much through here. And when is that bias actually tend to roll over for the fuel change from the winter to summer formula for gasoline? And that is about now. Anywhere from about the seventh to the 15th of April, seems to be that I was out at lunch today saw gas about 290. And I thought, okay, that's starting to get a little problematic for the psyche of the downtrodden in America. Of course, that's a direct tax off what they have to spend to get to work every day. So it is one of those things that does tend to change and get them a little bit more upset and a little bit bearish on the economy, even though it may be doing well. But, you know, we're probably getting fairly close to some level where you I think you could short crude, but it's probably just about done. And I don't know if I want to be in it from 62 to get to 50. I generally don't, I want to see stuff that that's 20%. But that, you know, that's kind of a tough road. I don't know if it's going to make that much different than the actual price of the underlying companies, the energy companies themselves. But even when you look like the OIH is really, these things have just really been going sideways since almost the beginning of the year. So again, what can you say? Other questions about what's going on? GLD, you know, you get three or four more days out. You kind of look like you're finding support out here. I would like to see there's this gap, turnaround gap from the 26th of December. And I'd like to see some kind of piercing of that and a rejection of it. You may not get it. I see, you know, you can pretty much draw a ruler on these levels right at about 121 and see that that's where people are starting to maybe accumulate it. You did have kind of a major failure out here. It doesn't mean that it's going lower. But I don't see a lot of reason to get into this unless you saw a good or the easiest signal, let me put it that way, would be a move down to 120 on the GLD that gets rejected. I don't see much in the way of that yet. We did FX, FDX. What else do we want to look at out here? Pugeless on me. Okay, someone wants me to look at a Vago AVGO. Okay, again, you had decent reaction to earnings, although the earnings weren't that good. Just a lot of people were short Broadcom AVGO going into its earnings on the 15th of March. You've slowly moved up, but there really has never been a sign of strength other than that first day. And volume is rather poor. You've got last four days, 2.7 million shares, 2.3 million shares, yesterday 2.3 million shares, today just 990,000 shares. So again, we're going to be watching very closely what happens into the end of the trading day. Other signs that we may be close to having some kind of significant high in this market is McDonald's. Generally, when people start feeling a crunch or maybe a recession coming on, they tend to eat at McDonald's instead of Olive Garden and Chili's. And you start seeing McDonald's go a little higher. I don't know if you could still say that, but you can say that McDonald's November 29th high at 190.88 had 4.6 million shares. You spiked into that on the first with 3.2 million shares. Another spike into it today, which is 1.4 million shares. So it doesn't look to me like everybody's piling in at these highs, which is one of the reasons why I haven't been sounding the clarion for much lower prices than to go short. But we shall see again the end of the day. I don't expect we're going to see much of anything until probably tomorrow. As we go into the weekend, I think a lot of people are going to say, yeah, we haven't heard any news in the last 10 minutes about the trade deal. So what are we going to do? What else? A handful of other people wanted to look at some stuff. And why don't we do this? We're back in the queues. We looked at the queues yesterday. Let's look at a handful of other ones. As I was showing, a lot of these were up there at the highs with light volume. Oh, we have Dave from Framingham on AKS. How are you doing today? Hi, David. Thank you for taking my call. Can we take a look at AKS here? Certainly can. What are you thinking on this? I think I'm waiting for it to get cut through the three because back in October when the S&P was at the high there at 2940, thinking it might just break out of here. Didn't we talk about this? Didn't we talk about this a few weeks ago? Yeah, a few weeks ago, but it's been climbing a little bit here. Yeah. I think nothing's changed. And that is this is a big call on the trade deal coming through. And you're probably not going to see a lot. The trade deal goes through, probably goes to the moon. Trade deal probably didn't go through. You probably pull back a little. So I don't know if you can, you came down with some significant gusto off that 329. And I don't think anything's literally changed in this whole thing, which is trade deal goes through. Maybe it does a bit better because they get protected and probably should be strategically for the company's country's defense. It makes a lot of sense that we have our own ability to build our own carriers without having to try to buy steel from Japan or more likely China, right? So I don't know. I don't know what is there something you think is going on in the steel industry is general economy that's going to make this thing move before that? Well, they were predicting a last quarter and they came out with a 16-cent profit. They supply 50% of the autos with the steel. Yeah, but autos are slowing down. They are. Housing slowing down. But we're having more producers are coming back this way. Crisis is going to open up a plant out here somewhere. Yeah, I just don't see it making a major dent in all that. I mean, the thing that would really change the future of AK steel and make me want to buy it would be that there was enough protectionism in what's coming from the trade deal that we would buy the steel from here instead of China. I think that's the one abiding case you have for higher prices. Thanks for the call. We'll be back and close up for the last second. David White's new 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. 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So again, just a tiny bit, but again, doesn't look like the volume is going to be much of anything. We're doing about 4.3 billion shares, if this is correct. Yeah, 4.3 billion shares. This is going to be extremely light volume day. And this may get us to, at this rate, we'll do maybe 6.3 billion, compared to about 7 billion, or over it for the last few days. So going to be extremely light volume tomorrow is going to be very important, and that we didn't get much in the way of gusto today, probably tells you a great deal. What else do we have? Let's check the emails, make sure I didn't miss anything before the close, and nothing there. Question about looking at Microsoft, if there's anything going on up there other than a test of the high, just like everything else. 30 million shares on March 21st. Again, 30 million shares today, 13.6 million so far. Yesterday, he had 22.8 million into that high, a little bit of a reversal. As I'm saying, that's kind of what I'm saying. Maybe we get a little bit of that taken out by the end of the day, but certainly, there's not a lot of people flooding in to buy this, which makes me think they're going to wait once again for any pullback to jump on the market. And until then, probably not getting a lot. Question about looking at the airlines. Got a doji in United Continental so far today with almost no volume, 1.3 million shares. It's compared to 4 million shares yesterday, 3.8 million shares before. So again, just a dearth, a speck of volume, but not the kind of kind that would say that you wanted to pull the trigger. And again, I continue to wait for some level of puncture of a 3x3 displaced moving average to say that these things are for sale. No signals yet, but certainly nothing to say that we're going to hire or much higher either. In the meantime, sell when you can, not when you have to. We'll see you here tomorrow. Same back channel, same back.