 The following is a presentation of TFNN Trade what you see With Larry Pezzavento Call now toll free at 1-877-927-6648 or Internationally at 727-873-7618 Now Larry Pezzavento Okay looking good Billy Ray feeling good Louis we're gonna start out looking at the Chart of the footsie as you can see here It's had a pretty good a Bcd and has backed off a little bit But we want to take a look at the DAX first and then after we look at the DAX We've got a human interest story that I think you're going to like I know that I'm going to like it because I've already talked about it to my with my sister Hold on one second here. We'll get this up there by the way today is my sister Carla's birthday. She's Four years younger than me at the age of 78. Hold on up here. You'll see here There's the a Bcd that we had here in the DAX and we're also backing off a little bit Okay, folks. Let's get back to a human interest story. Go back to 1969 in Westlake Village and I banked at Bank of America and one of their favorite customers Was none other than Mickey Rooney the actor and his son Mickey Rooney Jr. Who was one of the first two original mouse kateers passed away up in Phoenix? two days ago and But I'll tell you the story about Mickey Rooney. He was married I think 10 or 11 times and he would go into the bank two or three times a week cashing checks and stuff And I would seem in line and would always I'd say hello and stuff, but my mother absolutely adored him I mean she just that's all she ever talked about Mickey Rooney this Mickey Rooney that they were roughly the same age about the same size too Very diminutive and so I asked him I said hey if I get my sister out here from Indiana Would you have coffee with her? He says oh, he says I ever take me to lunch Would you buy and I says how much besides the dinner he's lunch He said oh no no He said he said just let's go let me take her to lunch and I said okay So I surprised my mom my she only flew twice three times in her whole life on Laren's birthday Or when Laren's born Joe was born and when she got to meet Mickey Rooney So I took her out here and I said well I said I'm gonna go have lunch over at the plaza here today And so let's get ready so she got dressed up and we were going in and we were he was in a booth already And she saw him and she says oh my god She said that's Mickey Rooney, and I said yeah I know it is and so we walked over and he said hello Rosalie. He said how are you and For the next two hours. I left I let him sit there and chat and everything. She had the most enjoyable two hours People came by kept asking for autographs and stuff, but she never forgot that so that's the old human interest story That we're looking at folks. I got to tell you a little story. I got an email from mom someone last night and It was email faking me for introducing him to the 382, but he said you've missed a Really really key part of the 382 And I said well what did I miss and he said well he said I'm reluctant to tell you what it is He said because I'm afraid you're going to share it with everybody else And I said well you're 100% sure that I will share it with everybody else because if you don't share knowledge Knowledge is no good. It's knowledge is there to be shared and you should be a giving person I gave it to you. I didn't charge you for anything for it. You've done really well You're now making it consistent living for the first time in your life And I think you should go forward and you know do something good Had nothing to do with that anyway, I'm not going to worry about that But that's just the way some things are folks. We mentioned on the show here yesterday And I want to get this up here because it's really an important shard here. This is the one we got from JC parrots From let's get this up here and we'll take a look at it right here This is the US dollar index inverted over the S&P 500 the time came You know, we've definitely had some type of a major top now In the US dollar index how major I don't know the first key to it happened today Now that's if you remember Yesterday we were doing a lot of chit chatting about the euro and the fact that it was going up and you know all that kind of stuff The difference is folks, you know, it's it's continued to go higher, but we've reached an area Let me get this up here so we can see it so many of these charts are so much alike that it's just ridiculous But this is going to be a really interesting one because this is the one. Well, let's put it this way It's interesting to me and that's what's important because I am the one that does the charts and I like it This is the euro on the daily. You can see here. We made the big 382 here We broke down we rallied up today was a 50% retracement of the previous high and Exactly 382 of a high that we made on our last 382 So right now if this is correct This should be it in the US dollar as far as correction and then it should start to go back up again So that's a five-day rally that stopped exactly at the 50% retracement of the previous high and 38% retracement of the previous 38% retracement So those were the things that I'm watching this morning because this is a you know I watch 15 minute and I watch daily and all the other things that I pay attention to But these things are so very very powerful that you have to pay close attention to them. I mean, they're just Truly amazing now none of them is more amazing than the one I'm going to show you next I want to get this up here because up we were talking about it yesterday and I want to follow through with it today because You know if I keep banging on the doors here, maybe some of these folks will get in the door And you'll be able to see the importance of you know some of these patterns and ratios and you know If you're not if you're not interested Listen to somebody else. You always have it that option This is the natural gas that we were looking at you see how we had the little garly pulled back the market Exploded to the upside and yesterday I said look the one thing you want to remember is start to look for the first 38% retracement off of that low because you're probably going to get it Maybe you will maybe you won't but if you do and if you do It's probably going to be a pretty good one. So here we are the drum roll, please And here comes the drums and here comes the roll. Here's a chart of the natural gas Today 30 minute. Look at this folks. It went $50 under the 382 at seven ten twenty seven eleven was the number Okay, it's $80. Sorry and then from there it rallied to forty five hundred thirty five hundred dollars Here's where it rallied to which was a 61% retracement off that high So it rallied thirty five hundred dollars with the heat of only 80 bucks now May or may not mean anything correct? Of course not. We don't know that do we nobody else does either So what we're going to do now is to look at some others that we were watching if you remember Yesterday, let's get this up here We were watching the crude oil and we'll get the crude oil up here and get to what I don't understand folks Is why other people don't see this is clearly as People that look for these ratios should be able to and you know the folks there and Back in Atlanta with the Elliott wave they they never talk about 382 and it's just an incredibly look at this 382 the first time 382 the second time 382 the third time And how did that one work out? Hello operator? Let's just check on that and you'll see that it exploded to the upside Let's get this up here to see it. So anyway, these things work a great deal of time not all the time Nothing works all the time But we're one thing that does work all the time is the fact that TFNN knows how to collect the money from the insurance Or from the commissions from the advertising and that's what we're going to collect right now Ka-ching Ka-ching Ka-ching. We'll be right back eight seven seven nine two seven three six four eight Billy Ray Valentine Capricorn Looming inflation we are purchasing powers eroded. There's no better place to protect your hard-earned money than ain't gold This the gold flagship asset is the Monk Todd Gold project in the northern territory of Australia This is Australia's largest unveloped gold project. 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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 the key indices Selective stocks and commodities subscribe to the opening call newsletter at tfnn.com The opening call newsletter is written by Basil Chapman creator of the trading methodology known as the Chapman wave The Chapman wave up-down sequence gives you an edge in identifying price turns finding the peaks and valleys in stock prices Get the opening call newsletter by Basil Chapman and your inbox every day first time 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 Steve Rhodes started his trading career as a student almost 20 years ago and the student has now become the master 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 Toll free at one eight seven seven nine two seven six six four eight internationally at seven two seven eight seven three seven six one eight Okay, folks each day what i'm going to try to do is highlight a stock that's in the news And just look to see how some of these patterns worked out. You've noticed here I focused at a chart here of twitter On a 15 minute chart and as you can see here we had that three eight two retracement And by golly look what happened the way it went folks if you're trading Stocks commodities futures forex, whatever it happens to be by golly pay attention to three eight two and oh my gosh The lottery ticket has just been punched for somebody in wyoming larry. Are you there? Yes, sir. How you doing larry still living the dream baby on the green side of the grass? What can I do for you? Well, I just want to tell you what a small world it is. I um Uh my in the 1990s I I had I was in a periodontal practice in west play, california Right right by the post office there and uh Who was my patient? I had mickey rooney Yes, he was very nice to me. He was nervous as hell and uh He used his humor to kind of guide his God his way through all the uh, what he didn't know what was going on, you know, he was always laughing. He sure was. Yeah That is a small world or did you have any other uh, you know because there are a lot of a lot of actors and stuff in that area At the time we had our chair and um, you know Everybody was actually pretty normal pretty nice. They were you know, just they had this skill That allowed them to act and I would ask him about it like how do you do that? I mean, how do you become somebody else? And they would try to explain it to me and um, it was very scientific very technical. I mean, uh, The good actors a method. They called it their method just like trading, you know, sure They practiced it, you know, they did they took odd jobs and you know, little theaters and stuff just to get to be You know pretty good at it. Uh, uh, clint clint walker, you know, uh, Cheyenne bode, you know from the series Cheyenne He lived on our street. He was four doors down from us and So we got to know he and his daughter and his wife Uh, pretty well, he died. He lived to be uh 97 mickey rooney lived to be 93. Did you know that? Yeah, he made it a long time. I knew he was probably in his 60s, you know, so yeah A long time ago. This was the 90s, you know, yep And uh, yeah, I'm just letting you know But thank you. I love to hear that because that brings I you know, when you get to be my age, you know History is what you got to live for and all those memories I have are certainly valuable to me anyway Gotta admit, uh, it was so Idyllic living in that west lake thousand oaks area, uh, whether You know, you could walk your round. I I do miss that I moved I retired to wyoming because of politics I I prefer this state, you know but um Yeah, I I really didn't like the politics in california, but that's another story That's for sure. Um, I just had a quick question. I um I went long gdx at about 10 48 off the five minute char larry What do you think of this whole thing? Do you think this could have picked out a bottom? I think there's a 50 50 chance larry. The reason why is That bottom that we hit there at 16 87 was a 382 that's the second time we've hit it We hit it last year and the fact that it didn't cascade through there It might still and you certainly if it makes new low below 1700 You don't want to be in it but as long as we can stay Above 1692 uh in the gold. I think it's got a slight chance for a rally in here How much of a rally? I don't know but if it's really a good bottom It's going to come out of here and scare the shorts the shorts have not been scared You know so you're going back to march, you know these things been straight down Which was fortunate for us because we wanted to be short, but I think we're getting close to a bottom We really are All right Okay larry that was my question. I I don't know what I'm just holding it with tight stops literally Then you're you're covered you have a tight stop and you're going to be just fine And if you ever get down this way, please let me know and I'll take you to lunch And we can sit there and have some fun All right doc, you I think thanks for everything because uh The more I listen to you the more I understand how you use these Fibonacci's to literally analyze What you're doing and I just it's so rare to it's it makes so much sense especially when you say it So I thank everything you do. I'm thankful. Thank you so much and I'll get that 20 out to you as soon as I can Okay Later You bet. Thank you larry from Wyoming. We really appreciate it. Anyway, I posted that chart of twitter And as you can see here, we had that three eight two retracement backed off, you know two dollars from that and boom It exploded through there. You see them everywhere folks You know, I can't post them all and the reason why I want to post something here We don't have any guests today. So we have plenty of time. I want to show you You know, I show you when things go right. Let me show you when things go wrong This is important to look at because here is something I was watching very carefully last night because we had that 80-point drop In the s&p and people were saying well, is that the possible Uh, the possible top and I said well, it stopped, you know, the low we made last night You know, right after the market reopened was right at the 50 percent level It never went a tick below The 50 percent but look we had a pretty good abcd stopping right there at the three eight two That was around three o'clock in the morning The reason why I know it was three o'clock in the morning because the alert went off to tell me It was three o'clock in the morning and the nasdaq had just made a three a two Now I was watching the nasdaq and I was watching the dow Jones and I was watching the russell So I wanted to see what was going to happen at that time. So I figured well 15 minutes of uh watching the market Will probably mean something, you know later on because I wanted to see if it would go there now That was a 12 000 in the nasdaq and it stayed there. It didn't really didn't really do very much But let me show you what happened as it started to move and this is why I think it's really important You'll see right after that. Let me get this now. This is a 15 minute chart So it wasn't there very long, but when this happens, I want to see What is going to be the next level? I want to look at and so all I was doing here This is where you see that three eight two retracement just sitting there just spot on Now it stayed there. You can see that it's just about a half hour It stayed there and then boom it popped up and went up and it made the big a bcd as you can see there There's a beautiful a bcd. So my next step is okay. If that's the case What was that ratio that made it stop where it stopped and so I go to that same 15 minute chart I'm just going to blow it up. So you'll be able to see all I'm doing I'm looking at it with a microscope and then a telescope and then binoculars. That's all I'm doing So right now looking at it with the naked eye You can see we've got to hear the 1.618 expansion up here backed off just a little bit Not very much at all not even to the 3a2 and then it exploded to the upside. So when these patterns Fail when these patterns fail Boy, that's where you really got to pay attention because they're really good at predicting where they're going And you know what else they're good at folks They predict it's going in the direction you didn't think it was going to go. So these charts are never wrong, you know men You know men are often wrong markets are never wrong So you've got to remember that and that's why you want to follow it to see when they fail Don't stand in front of the failure, especially beyond 1.618. That's the one that's really big Boy time goes fast when you're having fun We're going to have to pay a few more bills for the o'briens here and everybody else here at tfnn If you have any questions eight seven seven nine two seven six six four eight and the going rate for calling in is 20 us We'll be right back folks If you want to 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 new subscribers get a 30 day money back guarantee So you have nothing to lose every monday morning I publish the gold report with coverage of gold silver bonds the xa u hui gdx as well as more than 30 different mining equities To seep yourself the types of profitable trades that are recommended within the gold report Sign up now by visiting tfnn.com. Don't miss out on the next great gold trade. Sign up today 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 time of 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 godly's abc's 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 Sharpening your skills as an investor is like getting better at playing a musical instrument You have to practice sure, but you also need excellent instruction from experts at tfnn You'll get advice and guidance from the authority and technical market analysis And it's not just dry tedious text either tfnn airs live financial content streamed live on tfnn.com And tfnn's youtube channel with tiger tv live every market day from 8 30 a.m. To 4 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 Hi folks we're back Back folks I posted the chart yesterday that we were looking at in the aural because We were showing you know how the market was backing off to three eight two retracements in the aural once it turned It just exploded to the upside and that's what we were watching I wanted to show you that because that was a 15 minute chart and only worked for about 20 pips Now while we were on the air and then of course it went down and went a little bit lower Uh-oh something's wrong the old uh, there we go just a second. Sorry boys and girls the old technical issues Grab the old cowboy once in a while. So here it is right there And right there is when we were talking on the air about the same time Uh, no, it was about a half hour almost at the end of the show We were sitting right there and I said if it's really really super bullish It'll hold that level and we want to watch that very very closely here. So let's keep in mind here What we're watching here is a market that has backed off just a little bit more And then it exploded all the way to the upside and it hit the major numbers folks This is why this is such a big deal today With the euro you have to pay really close attention to it. I'm going to bring it Up again because uh, you know, I'm a numbers person folks. I don't Care diddly squat about what the people are talking about, you know I'm I just look at the numbers you can see here the bottom that we made here Very very important We looked at that on the long-term weekly and if you remember it was just under par the abcd patterns on the weekly Came in exactly at that number within just two or three pips And then from there we rallied well over 300 pips at $3,000 in four days and it stopped Exactly at the 50 percent retracement of the high we made two weeks ago. All right and Stopped exactly at the 382 retracement just under 103 102 96 and it stopped exactly at the 382 of that number that we had Back about three and a half weeks ago. So that's what's important What we need to know now is we've exploded to the upside here So what we have to do is we have to prepare ourselves to find a spot where we can see a really neat 382 retracement, you know, it's it's going to be you know It's going to yell and scream at you folks and and you know what if it's wrong It's no big deal Just put your stop in move to the next move to the next stall get on the next bus You know, that's all you have to do, you know, you don't have to you know Set there and lick your wounds and anything is a losing trade big deal for god's sake You just got to move on to the next one and that's what's uh really important as we look at these patterns That's uh really a big deal. So keep in mind that that's what we're looking at regarding larry from my always question About the is this a possibility of what we're looking at here In the gold market a potential for a major Major bottom and I'm going to bring this up to you again Just to show you the numbers that we were talking about here The fact that it didn't well it hasn't yet hasn't really rallied much. It's rally 25 or $28 off the bottom, but you see the bottom that we made here just last week, okay On thursday uh friday, you'll notice that uh it almost matched it didn't get below that I would have liked to have seen it just to see if there any stops there, but You know people that are using yearly stops. They have big pockets and they usually don't care about stops So the fact that we went and matched that was very very important and the reason is twofold Because it's equal to the move that we had here because that's where we had the double top You see the equal move down here and we have an equal move Right here. So those are equal. There's your there's your a b That's a possibility of cd and look where it is folks Setting right at the old magic itself pen and teller point three eight two So that's why that is such an important number now. I would have thought That if we hit that number we would be not 30 higher but 50 60 or 70 higher if that was a major bottom Well, two things could occur a it might not be the bottom and b It might take three or four more days for the market to catch on that. Oh, yeah This could be a major bottom and then they're gonna, you know take off and And watch it really really go. So I I think it's it's super important There's another one that is just as important and that is uh, it's not the yellow metal But it's a red metal and that's copper here in the copper state of arizona Get this up here. So we'll be able to see it. This is a weekly now and we hit that number right here Uh, 317 was the 61 percent retracement of the long-term weekly two years ago We went to 313 and a half and we went up to 335 already. We've rallied 20 some cents Off the bottom. So that tells you yep. There's some type of a bottom coming in here So again, if you want to get long copper, you've got a nice thrust at the upside Watch the three eight two retracement on the downside and that would give you a pretty good chance To see if you're going to hit it, you know right on the money and that's all you have to be looking at As far as stops on the three eight two You know, that's pretty much you you have to determine what you want to risk But on something like copper, you got to probably risk three cents, which is 750 on gold You got a risk around the grand and the crude oil you have to risk around a thousand dollars because crude oil Folks is just flat out wild. I mean it really is it's it's very very wild And I think it's it's pretty cool that You know, we have some of these things we got the oh, I just noticed the s&p's taken out the previous highs From the 8th of july that's we're trading at 39 13 And that's a big deal. We watch that one very very closely The euro's still backing off a little bit. We're glad to see that And the corn folks has really gotten hammered. I'm glad we finally got out We took a $500 profit at that and they've been hitting it pretty hard wheat's bouncing back just a little bit but nothing to even write home about but There's something wrong with these grain markets boys and girls because They should be heading a lot higher given all the fundamentals. Uh, what's that word? I'm using the f word folks Sorry about that. That's what the fundamentalist people tell me that the fundamentals are so bullish The weather is extremely bullish and you know what? The market don't care. That's what's the most important folks The reason why i'm a technician is because of one reason you remember the movie city slickers And old what's his name? Jack Pellance would hold up his one finger like that and go back and forth and curly would say it's just one thing It's just one thing and that one thing was Do the right thing and all the rest of the stuff will fall into place Well, my right thing is to follow what the bar chart is if prices are going up There's more buying if prices are going down. There's more selling. That's all you need to know You know why because anything else you read is suspect to uh Cannon fodder in other words it may or may not You know mean anything, you know, that's the main thing when we first became members of chicago mercantile exchange We had to You know take tests to see that we could have subtract multiply and divide and could speak without slurring our words that kind of stuff As long as you had money in your account, they were going to let you trade so it didn't make too much difference They wanted to show you how to to buy and sell like if you were going to buy a two lot it was like this And uh, if you wanted to buy a 20 a 20 lot was like this a two lot was like this And a good thing I didn't put a one lot up there And so that's it if you put it right over your forehead like this, okay, that's that's a 200 lot This would be a 100 lot that would be a buy Palms out would be a sell believe it or not that makes great sense If you knew how to you know do outtrades and stuff which I didn't I paid somebody to take care of all that stuff So that's neither here nor there. So let's move on to the next thing They also wanted to say that you should have some type of a system for trading down there Where there was scalping whatever happened to be a lot of these people just down there just mumbling around Just to see if they could make it pretty much like what I was doing I knew a little bit more than they did so that helped a little bit But the main thing they tried to tell you is never risk more than two percent Of your total capital on any trade that you're going to do down there And you can be wrong 50 times in a row and you're going to be blown out But at least you're not going to be blown out on the first day So you had to try to limit it to two percent your first two weeks You were restricted to only lose two percent if you lost two percent one day. You were done for the day eight seven seven nine two seven six six four eight Tfnn has been your trusted source of analysis for bonds metals stocks commodities and options for years And we are happy to announce that we are bringing that same caliber of analysis for the forex market Teddy kextat has 30 plus years of experience in forex trading commodity risk management forex hedging volatility and so much more Teddy releases his weekly tiger forex report every monday morning with elite coverage of all major currency pairs Including the dxy euro dollar pound dollar ozzy dollar dollar yen dollars swiss frank and so much more Teddy will recommend specific trades when the market presents them and provide updates throughout the week when warranted For the month of july inaugural members to the tiger forex report receive 25 off the monthly subscription for as long as they're subscribed Just use promo code teddy 25 to lock in the added savings This offer is good only for the month of july so do not miss your opportunity to save on the tiger forex report tfnn educating investors The technology around us is changing every day with so much happening it can seem impossible to keep up with all the information David white's investment newsletter the technology insider is designed to give you all the information you need to understand the technology That shapes today's markets and tomorrow's future David white has made his living staying on the cutting edge of technology His weekly newsletter will give you specific recommendations for value tech stocks As well as entry prices target prices and stops to set for each trade Dave delivers his weekly newsletters every friday with updates throughout the week You can get the technology insider at tfnn.com for only 37 in 50 cents Sign up for david's newsletter the technology insider and get an inside look at everything the technology sector has to offer Try it risk-free today with our 30-day money back guarantee tfnn educating investors Are china a shares hot or not? If you trade china a shares now may be time to take a closer look Trade chau or chad Directions daily csi 300 china a share bull and bear etf's china a shares in either direction Visit direction investments.com today an investor should consider the investment objectives risks charges and expenses of the direction shares carefully before investing The prospectus and summary prospectus contain this and other information about direction shares to obtain a prospectus or summary prospectus Please contact direction shares at eight six six four seven six seven five two three 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 This program is brought to you by vista gold traded on the nyse american and tsx under the symbol vgz Okay, folks. I wanted to share another Interesting story that I remember most vividly. I was standing there in the pit the back part of the pit where I didn't have to trade I Handed my orders into an order taker who took care of it. He took care of the out trader risk So it caused me two dollars in and two dollars out. That was back in 1982 in the t-bills But we were standing there In the pit on the backside of the pit way at the top and there's three Two or three hundred people in the pit yelling and screaming making a lot of noise Hardly make yourself think but uh, we stood next to a third generation group of traders There was a father The grandfather and then there's the grandson and son was just beginning to trade and uh, he came out of the pit the grandson and he had a You know, I must he had made a losing trade and his dad said look he said you got a you got a problem here He said get go into the pit and correct it come back So 10 minutes later he comes back and hands his dad the card He says what the I'm gonna I'm not going to use the expletive, but it started with the f And ended in a k. I don't know what it was in between But are you doing and he said well, I know I know I'm gonna I know I'm gonna be okay It's gonna turn around And he reached jim reached over and took the kids badge and just ripped it right off of his jacket No, these are little cotton jackets, you know the little blue ones as you're seeing them I don't know what color they are now. Anyway, he said get out of here. He said go home He said I'll take care of this and byron said, uh, hey jim He said you're being kind of hard on the kid, aren't you and uh, he said byron He said he's just out of college. He said he don't know he couldn't find his You know what with a paper paddle and he said it's my money that he's losing if he's going to lose his money I don't really care, but he's losing my money. I care the only way he's going to learn Is by something being really dramatic and I think this was dramatic And at that time here came one of the one of the people they Well, they were called the police there at the floor because anytime There was something wrong going on like money would exchange hands, you know real money That was immediate $500 fine, you know doing something really flagrant like ripping somebody's coat which he just did That was usually $250 fine and the guy was writing him a ticket And he said well, I'm going to pay for that one But at least he's going to learn that by guys if he's going to do you don't make a same mistake by adding to a losing position The number one thing on this painting behind me that says Of the 10 things that are there is Never add to a losing position and I'll just turn around We've got a caller on the line. Oh, it's like holiday. They're lottery today. What can I help you with please? Good morning. Good morning, Larry Yeah, just wanted to tell you you're making me some money on your a bc If you look at this makes me happy card on yes Well, it went up to 1.618 Very good. Very good That makes me very happy. Make sure you do something for somebody poor today. Okay, give him a buy him a hamburger You know a candy bar or something just do something for somebody poor today if you see him that'll make my day I'll buy myself lunch Eat well my friend Thank you calling from where you're calling from Uh Florida Oh, okay. Well, there's a lot of rich people down in there But anyway, thank you for calling in that makes my day when I'm reaching a few people So keep using them. They don't work all the time but when they work they work great Yep, okay. Thank you. You bet. Thank you for calling in Okay, getting back to the painting up here number one is never add to a losing position Number two is when in doubt get out Number three have a plating have a trading plan and stick to it Put take rainy day take equity out for rainy days Never close a trade without a reason and gosh darn my eyes are getting so bad I'm gonna have to move a little closer to the old thing here stops are placed for protection Please use them the only true facts in commodity trading are fear and greed the rest of it is baloney Never add to a substantial never allow a substantial profit to become a loss And of course the next one is distribute your risks equally over several markets And number 10, which is a sequel to number one It's never hedge a losing position because if you hedge a losing position Then you've got two decisions to make Your original loss and what do I do with this piece of junk that I use to use the insurance on it? So if you got a trade that's not working get out You know, you know do something good for yourself and forget it and that's pretty much all you really want to Really want to do. Anyway, that's what I'm that's my two cents worth and I'm sticking to it Let me quickly check here What some of these markets are doing because we hit a pretty interesting spot here Just a few minutes ago. We had a A three drive pattern up there at 30 13,600 in the Dow e-mini we backed off just a tiny tiny bit from that but Pay attention because if we drop more than a hundred points, that's going to be a significant three little drives The euro is still backing off a little bit gold hasn't really moved very much folks So I'm beginning to think that you know, maybe it's not quite ready yet. So that's uh That's what we're paying attention to, you know right now as we look at Some of these things but the fact that this corn has given up so much As really let me double check that corn because I haven't I can check the commodities from here And we'll see what we're doing in the corn. I'm so bullish corn and yet it doesn't want to go up. So Then want to go up. I'm not going to go with it. So that's pretty much it. So let's get it up here to Take a look at it to see if we ever got back above that level No, we're still still below of 15 95 95 We got down to 586. So No indication that it wants to rally yet, but I'm watching it if I get the slightest buying pattern in that corn I'm going in it as they say here in Tucson, Arizona. Elecunus dos manos With both hands, I will be in that but right now that is not happening. So I have to stand aside And wait and see what is going on. So that's pretty much it We've got tomorrow's guest will be none other than the wolf trader dot com himself shane's mullion Timmy boss will be in with us in about 10 days to two weeks He's moving to his palatial estate over there in Sarasota And so as soon as he comes back on we'll we'll have him as our guest that'll be the following week but on monday Don't miss monday's folks because we got none other than the Mr. Astro trends himself out of Which one napal's florida norm winsky will be our guest at that time. So we'll pay close attention to it Boy folks, this natural gas is one beautiful trading vehicle. Let me tell you it really rocks and rolls We we went believe it or not folks just today. We went from 756 We dropped $4,600. Okay. That was the 382 down there at 7 11. Okay From 7 11, we rallied $4,500 to the 61 percent retracement at $4,500 and now we're now down another 2000 Heading down to an abcd pattern and I will Mark this up post it so you can see what i'm looking at here And you'll see we're going to be coming down here to around another seven or eight hundred dollars lower at 7 22 So give me one. Oh, I can't do it that way. I've got to do it the hard way Hold on as they say in las vegas hard six hard eight hold on one second here and we'll get this up here So we can see it and there it is right there on front page news And here's what we're watching here in the natural guy. This is incredible. This is like pork pork belly on steroids Uh, uh-oh something's wrong This to gold owns and operates the largest undeveloped gold project in australia the mount todd gold project Vista gold just completed their feasibility study resulting in a 7 million ounce gold reserve Vista gold has all major permits approved and has retained civc capital market assistance in evaluating alternatives and in completing in a creative transaction Vista gold trades on the nyse american and tsx under the ticker symbol vgc Vista gold executing a strategy to create shareholder value 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 the key indices Selective stocks and commodities Subscribe to the opening call newsletter at tfnn.com The opening call newsletter is written by basal chapman creator of the trading methodology known as the Chapman wave Updown sequence gives you an edge in identifying price turns finding the peaks and valleys in stock prices Get the opening call newsletter by basal chapman and your inbox every day First time 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 Everything in the universe is governed by the fibonacci sequence This mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market To stay on top of stock patterns You can take advantage of sign up for the fibonacci 24 seven newsletter at tfnn.com When you subscribe you'll get a weekly report from veteran day trader larry pesavento on stocks You need to pay attention to and you can trust larry's analysis after all he's got 45 years experience as a day trader larry will also provide daily charts videos and data on the key markets that he's tracking Expect notifications from larry on market movement You need to act on at any time first time 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 Subscribe to the fibonacci 24 seven newsletter today tfnn.com educating investors Tfnn has launched the tiger's den hosted at discord Tfnn has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours The tiger's den available to all tigers and tigers for just one dollar for the year There's no catch or added costs when you join our community of traders sign up today and become a part of this educational community of traders Just visit the front page of tfnn.com Okay, we want to get this chart up here for a silver one of the reasons why i'm still bearish on the gold folks You can see this is the daily silver chart That last high we made you know right back here You can see here that was right out of 382 retracement. So the odds If it completing that abcd down here just below 18 is pretty high I would think you know, it hasn't bounced at all That's one thing and number two is it's certainly in a very very strong downtrend And we've shattered the 61 percent retracement On the long term weekly which was at 1862 So that's another reason to telling us that I think we're still heading lower You know in the silver and also gold and platinum and palladium all of them Uh copper is the only one that's a little strange because we you know I was so oversold when I got to that 61 percent retracement, but if copper should go below Uh, you know that 317 now on a closing basis in spot copper my goodness that would really be negative. So Who knows what's going to happen next? I'm just looking at these charts and telling them You know where the roadmap is where I think I can get from point a to point b without risking very much That's the whole key to this folks the swings we're having these Past few weeks and stuff in crude oil. I mean today. We've had over $6,000 swing, you know Two up two down two up. I mean, it's just uh, you know You really have to have a really good trading plan and protect yourself At all times when you're trading the crude oil because if you blink your eye you could be out $2,000 $3,000 $5,000 in a heartbeat and that is not funny. It's not much fun So that's one of the reasons why you've got to uh, you know, you got to be able to Try to do that. So protect yourself with at all costs You know because if you're wrong You're wrong. That's all there is to it. You know, you you just move on to the next one and that's all you have to do So that's pretty much. We've got a pretty good breakout now in the S&P We've been above that uh, 3909 level for about an hour or so now which is a pretty good sign So we'll we'll see if the market will turn and uh, maybe back off 20 30 points yesterday It backed off 80 points live every day in an attitude of gratitude and may god bless and we'll see you tomorrow with James Paul and the wolf trader calm. May god bless folks