 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 Lewis well I'll give you a little report from the money show over in Las Vegas the most startling thing to me folks I haven't done this for eight years I've done them since eight 1989 I've done 23 of them and I did haven't done any for eight years and they asked me to come over and do one more show there in Las Vegas so I did go and went through the place and I was really amazed folks how many people came up to talk to me and it was mainly because they listened to TFNN I mean it was really heartwarming to do that I have a lot of students from Las Vegas and they came by to say hello in fact a few of them attended the the talk that I gave but the real joy was to see how many people listen to it I had the same experience six years ago in Kiev Ukraine because we had big forex trading day there for two days Tom Hougart and I put it on and I must have had at least 10 or 12 people I mean they barely barely speak English but they listen to the TFNN show I mean and not just me them they listen to other they listen to the other folks too so it was really it was really heartwarming to see how how far they're reaching arm of TFNN go so it was is really quite nice I started the show talking about ABCD's and Tibonacci and you know the usual thing about Pythagoras and Tibonacci where the numbers come from from Al Jazeera how we converted regular Arabic numbers into arithmetic numbers and how the evolution of that started and how the charts were built you know by the squares and circles and diagonals and triangles that Bryce Gilmore taught me and then we focused on a few stocks people I showed them examples of course of ABCD and of course they were very skeptical and so I let them pick stocks that they wanted to and I said you're going to see these patterns and anything two stocks that never even heard of I don't even remember the symbols actually folks they both started with a T but I can't remember after that but they picked two that were just they were ETFs but they just had perfect ABCD's all over the place and that sort of got their attention and that was really a lot of fun and then we they also wanted to talk about the stock market and we we did a little bit of that which I'll share with you here in a little bit but that's really what we were looking at now I posted the chart here of Apple because that was one of the things that everybody seems to be owning that stock and they wanted to see where we were with it and I was showing them this hourly chart you know it's the 1.618 expansion was up there at 157 and also you know we just had a 135 pattern you can see the down sloping diagonal line was a 135 pattern then yesterday we made the 382 retracement but what's important about that is that we were in midst of that Apple meeting yesterday and that should have been extremely bullish and it was not assumed bullish because the market went from 151 down to 146 and the target on that is at 144 you can see the 1.618 expansion to the downside on that so we were looking at numbers and trying to get you know people's attention and and you know we only had about an hour but it was still fun and they had a lot of questions and so it went pretty well it was so nice to see you know people that I've trained over the years come in and they could have actually given the lecture as easy as I could have because it they've been doing it for such a very very long time so let's take a quick look here at a couple other things that we wanted to focus on this was one that we were looking at yesterday this was the excuse me let's try this again Larry this was the one for today we had a there's the three drive to a bottom pattern in the bonds this is an hourly chart you can see it's a perfect apcd pattern coming in down there it was 61 23 you make an apcd pattern to the upside at 164 20 that was the sale point you're risking about 10 ticks on that and it's already made a thousand dollars now the question that someone asked me this morning that was actually putting this trade on was how do I figure out what the profit objective is well remember when you put these things on you never know what's going to happen next that's an absolute given so what you have to do to do is assume the worst and figure out how much your risk is going to be on a trade like this it's about 12 ticks or 360 dollars so if you make 360 dollars on this and you're trading multiple contracts you can take one of them off at 360 profit and let the other one run it break even now let's assume that that you don't trade multiple contracts that you're going to do just the one that gives you the most profit so what you have to do is as soon as it gets to a 360 dollar profit you have to put your stop at break even or at least lower it down to the previous high that reduces the amount of risk that you have and that's exactly what could have happened today because the market went from 164 24 all the way down to 164 even that's a 600 dollar move that you would have double what your original risk was and so what you have now is you've got a situation that you just either put your stop at break even and let it go and if you look at this abcd pattern the last time we had a bc swing we went from 163 down to 162 and a half that's that's a handle and a half so you would expect the we expect the bonds to get about 163 20 and i think we hit that as we were just talking just a few minutes ago that we went down to it now that the set the $74 question is $74,000 question is what if i want to keep it for a longer time and you can certainly do that but now what you've done is you book three times what your risk is so you certainly under no circumstances would you ever ever take a loss on this trade i mean that would be that would be the first mistake teaches the second mistake kills and you don't want to do that so you've got to focus on how much money you have at risk and then also how much money you know you have it in your hand that because once once you sell it at 164 20 and it's trading at 163 20 that thousand dollars is yours folks i know it's on paper but that's still yours so you got to remember that so don't let these if you get a big profit like this don't let it go to a loss because it can happen and it's not a very warm feeling when it does and it will happen but you do your best not to do that but it's repeating what it did before between the 10th 9th and 10th it's doing exactly the same thing it's just moving right down into that segment of you know correction taking it down to about 163 14 that's what i would be looking at in the treasury bonds for today so i hope that answers jeff's question out of pennsylvania because excuse me new jersey because he did have that question and he wanted it answered we've got a couple of charts that are really interesting here today by the way we're going to have shane's mullion as our as a quick cameo guest here at 1230 he's going to pop in and talk to us a little bit i've got some new guests coming up next week we're going to have jeff cooper he is a student from all many years good friend out of california his father was an really avid trader that's what jeff got interested in he's a really incredible technician he does a lot of really good gan work and uh some of the very best actually is if you want to know the truth so you'll think you'll think you'll enjoy that show that'll be next week sometime we had jordan aptly on yesterday and and fortunately we only had a 45 minute segment because if he'd gone five minutes more i think we would have been in trouble because he got he got up on his pulpit and was really bashing everybody anybody that was in the news or anything and he just he's very skeptical about what's going on in the market and extremely nervous as he should be because these markets are extended and he's a little suspect so we'll be right back eight seven seven nine two seven six six four eight markets can rise and fall like the tides subscribe to basal chatman's newsletter the opening call and you too can ride the wave basal chatman is an authority in technical analysis his chatman wave trading system has been helping traders identify trends and capitalize on momentum in the markets since 1984 tfnn invites you to test basal's proprietary chatman wave trading methodology with a monthly subscription to the opening call newsletter for only 149 dollars your subscription to the opening call comes with a 30-day money back guarantee as well as daily market updates on key indexes stocks and commodities ride the wave sign up for the opening call risk-free today what's separating you from the most successful men and women on wall street that's right information having all the information gives us the perspective we need to place the right trades at the right time the task 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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 oh now toll free at 1 877-927-6648 internationally at 727-873-7618 okay folks i posted the chart of the e-mini s and p a 15 hourly chart happened to be right during the time when i was giving the speech yesterday and you'll notice that the high that we made yesterday was an exact to the tick 382 retracement of the high that we made back there at 15 50 now the reason why that is important is i was trying to show the harmony that's in the s and p 500 that was people seem to be wanting to focus on that but if you go back to the 9th of september you see we had a very strong rally we went from 44 80 all the way up to 45 25 it was a 45 point rally well if you look at the rally that we had on the 14th it was exactly 45 points another was repeated itself and then if you look at that s h that was part of a head and shoulders pattern that failed if that s h pattern if you look at that did exactly the same thing it was repeating over and over again this i focused on using the work of dr andrew low in his book the non-random walk down wall street i went a little bit further here today because i wanted to show you the importance of where we are on the 14th and 15th of september here in the market and if you look here at this next chart that i'm going to bring you up which is a four hour chart of the s and p you're going to see something that looks very interesting here you'll notice that we've made an exact to the penny 61 retracement down there at 424 and that's a beautiful abcd that's that same pattern that we were just discussing on the hourly chart that's a blow-up version of it and so the difference is folks i would like for you to follow me here if you look at the low that we made on the 10th we had a huge rally the market rallied from 44 43 another 45 points and then it came down on the 11th 12th and then rallied another 45 points and now on the 14th it's not doing that you notice that it's taken this a four hour chart so it's taken a whole day and we can't even get higher than the 3a2 of it 44 48 that's not a good sign this market's got to get started to the upside the one thing i feel relatively strongly about and that is if the market does break below that 44 25 now that's telling us that we're going to be going a whole lot lower in the market but so far it is just a normal correction in a bull market we've had a very strong correction as a matter of fact i heard on the news today on bloomberg this is the historic move down into facebook it's the first time it's had a a six day correction i believe or something like that it was a historic thing that it hadn't gone into a period where it had done that in since its inception i guess i i did all i know it was supposed to be historic i didn't pay too much attention to it because i'm not a social media advocate nor do i have any interest in facebook at all and you know what facebook doesn't have any interest in me either so that's about it someone asked a question about the crowd that was there a very very large crowd in las vegas was at ballet's hotel and there were a lot of people all the booze were taken by vendors and there were a lot of people going around there were no more you know hats and t-shirts and stuff like they used to give out in the old days but there was a good crowd and the it was really it was very very interesting um the uh you too can be monetized by the facebook machine i don't think so bo i'm just an old cowboy just trying to keep my head above water and fortunately uh i have a life preserver so that's the main thing now let's take a look at a couple real interesting charts that were focused said to us by our good friend mike up in canada and i wanted to show you these because these are done by someone else but they're very interesting charts here's one just on the s and p 500 a simple chart but you can see here over the past month or so you've got these three down days and continued rally there was one two three four of them this one not the same we've been down six days now we're right at major support there at that 61 percent retracement so that's the important part to look at but this is this is how the market repeats itself over and over again so i think it's important to look at that now mike was kind enough to send us another one that i really enjoyed looking at and that is the real relationship and we've seen this from our good friend stan harley and we'll have stan on next week also along with jeff cooper you'll notice here the advanced decline line is diverging badly and it has been for quite some time and now it's starting to really roll over so uh we need to be be aware of that because these markets have been basically vertical for a very very long time i posted the chart of lumber and uh what happened to lumber i know lumber is not the stock market but you know it's a technical market and that's what can happen when markets get overbought and when markets get oversold one has to prepare yourself for that if you'll just remember the chart that we had from our good friend jim bardo leone last week you'll be able to see that we have this basically vertical you know move all the way up here that's made the target here in the naztac with that giant abcd pattern it took five years to complete so that's a big big pattern another pattern that we've mentioned and i still want to keep it in your head because we came within 99 percent of making all of these targets here in the s and p folks the green target the gold target the blue target and the and the red target were at 60 4610 we got to 4650 that's 90 99 percent of that move is is is possibly complete now could it be going higher absolutely and could it go above the 4610 absolutely but right now it's not doing that so we have to work with the information that we're dealing with and that's the most important thing now i did mention the last time on the show the importance of the open interest that has happened in the s and p and as we get this up here you'll be able to see here we've had a huge move look at august 19th folks the open interest was 2 million okay now here we are in september 13th and 14th and 15th and it's gone to 3 million 200 000 that's a huge increase folks nowhere will you see an increase like this now you got to ask yourself i mean this is big time because you're by everybody that's buying it over these last few days has uh you know they've been selling into a bear market selling into a bear market so if markets are right and going down let's put the put the open interest chart up you'll be able to see this we we're assuming we're assuming now that the the smart money has done this but we don't know for sure uh okay okay i see that is daily volume i understand that but if you'll notice here you if you have falling prices in a rising open interest that means the market is weak and that's what we're seeing we're seeing that today you know we've made that low down there at the 61 percent retracement yesterday with virtually no no movement to the upside that to me is a bearish phenomenon and i think it's worthy of our you know keep that in mind now i wanted to before we get off on another tangent here i wanted to show one other thing from one other chart that someone sent us and that is how many stocks are actually you know going down versus going up and you'll notice here that even though the s and p 500 index has been going up the there's a lot of stocks that are rolling over and remember the s and p 500 is only 500 stocks and actually it's only about 100 stocks because they're all they're all cap weighted and so uh when you got lower price stocks they can pull the market uh you know make that index look a little bit lower but you got to do one thing at a time the one thing i focused on was the fact that gambling and speculation were totally different and if you just focus on what the prices are doing you're going to be just fine because if they're going up they're going to be buying it and if they're going down they're going to be selling it that's all you have to know try to fit that within your program of what you're looking at and then finally we're going to have a little break here when we come back i want to talk to you about this trade that we were looking at just about three days ago during that report that was coming out in wheat we had a beautiful 135 pattern in wheat exactly at the 61 percent were you having fun 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back folks as we have the wolf man himself on the wolf trader shane's mullion shane how are you today good afternoon larry how are you doing i'll just live in the dream shane we've got a question from one of our listeners right off the bat and that is regarding the bradley model uh we've had you know norm winsky as a guest before and he follows it you know pretty much as it was done in the book now as i understand that you have lots of variations of that can you explain to the folks what you do with that type of model that's a really good question i use uh an optimized bradley uh that basically looks back at a certain time period and then will optimize the planets that are working better at certain times and a general market when you're not getting really emotional moves i think that the optimized bradley can be very good but i think what we're looking at right now is the planetary speed index this is what i i think is the most important thing because when you have a situation that we have right now uh where you could start to see an acceleration in the selling i think the planetary speed index is more accurate in those emotional situations but the bradley can be very good in a in a kind of a calm market i just like the planetary speed index much more when you see a situation in the s and p that that could accelerate to the downside and i think that's what we might see this month okay go ahead my friend you've got the mic and would like to hear what you have to say sure so we'll start here with apple uh i thought this was really interesting because apple had made many surges at a high into here uh it made it made you know four three or four different attempts here at a high actually the first one came back into here uh so it makes this first one the second one this third one and then on the fourth one it breaks out looks like it's breaking out and then it just collapses back down here so i think technology is an important thing to watch the fed juice did pick this up on nine one it's been in a cell since september the first apple is coming into some type of a cycle high actually here so apple could see some more issues coming up here so uh i i always like to look at technology because if you're going to get trouble the technology almost always has to lead on the way down so i i watch apple and this is one of the the stocks that we do cover but the fed use has been modeling this very well it did it did pick this up and it looked for a while like this was going to be wrong it looked like it was posturing to break out but the fed use was ended up being correct on that and then of course we had that uh that news with the courts and the the uh the the end and app purchases that caused that big move down but um we were able to see that too with the the the lunar cycle here was decreasing along with the four to six day cycle so uh things were moved we're basically functioning as they should but in terms of the broader base picture i like to look at uh i just like to look at these tech stocks too now i have another slide here which looks at the us dollar i think this is important to look at uh on the on the short term here it looks as if the dollar is trying to base to go higher uh we have two buy signals here on the dollar so to me this this is a situation that would be bearish for the s and p 500 if the us dollar does start to rally here and i think it's got some room here to go i think we could go maybe till the end of the month if it does rally to the upside that could put downside pressure on gold it could put downside pressure on bitcoin could put downside pressure on equities too so the dollar is really an important key to watch and this double lunar cycle here has been picking up these terms very nicely uh since about early august have we been really getting this fine tuned and this this does go into this buy right now and this is going to be in a buy probably till about 9 30 into here so the dollar does rally that's going to create headwinds for equities now equities in general i have my third slide here equities in general are starting to come back to the fed juice i talked about this since uh july uh that the fed juice was pulling back here and the equities always come back to this at some point it did take a while we had one fit here where it it rolled over then it kind of crawled up it rolled over again and now it's crawling back the difference on this one though is if you look at the price section there's been a series of gaps up that have failed uh there've been a lot of candle patterns that it starts it starts up you know it opens up and then it closes lower or you see a situation like this where it kind of goes up and then it fails down when you start to see these candle patterns what's happening is that there's but buyers trying to come in and for whatever reason the market is not able to continue through to the upside now i think this is largely due to what's going on with the fed right now they are pulling back and we did see the ecb talk about tapering two so these two together i think are creating a situation where we we could see some more selling on the s and p 500 and then as we get through september the situation looks more and more dire as we get through now this is a this is definitely a good start for a for a continued move lower as you know things don't go in a straight line i think we might be coming into a short term low tomorrow and then early next week i think we'll probably go right back into the selling again on the s and p uh but uh to me this looks like it has the potential to move much lower and as long as the fed is just not really making the effort here to ramp this juice up as long as this is still under decline uh then this market has the potential to keep moving lower wow this is really interesting do you see any date this is another question by the way do you see any date in the future this astrologically that might be related to a crash date similar to like what we had in october of 1987 well there there are a lot of signatures at the end of this month when we get around that mercury station the planetary speed index is falling there's a lot of factors converging right at the end of this month and going into next month so i would be looking towards the end of this month and and to me that is it's it's set up right now we'll see what happens but as long as this fed the fed is kind of pulling back here i think there is the potential for for selling and those dislocations tend to happen around those mercury stations if you look back at those major crashes if you look at 87 if you look at 2000 if you look at the flash crash if you look at the 2008 all of those were within three days of the mercury station so that that scenario is setting up again but we we still need a lot more to happen before we get there but it is definitely on its way how about you being a guest when that gets ready to happen absolutely please let me alert me to that we'll love to have you on that's for sure continue please i'm just bringing questions to you that i see people are asking and i just wanted to let you know that they're coming up so go right ahead sure no that's just basically it so as the month accelerates the situation deteriorates from an astrological standpoint and a cycle standpoint and then also the fed is in play here so when we put all of these factors together you know that the the potential is there and then the dislocations like i said tend to happen around that mercury station mercury rules motion in general anything that's moving so when mercury is in a station the markets which are based upon data flow and movements and you know communications when that gets disrupted or slows down you tend to get falling prices and it's just you can go back through history and study this it's there's not one exception to any major crash that has not not happened outside of that that situation so that's what we're watching well that's good by the way when you come back next time be sure to bring your religious and political beliefs with you because we had our good friend jordan aptly on yesterday and joe vented the he vented the room let me tell you i've known i've known him 50 years but guys he's really gone off the the deep end well he's uh i think he's becoming recluse if you want to know the truth but uh he was fine and he had a lot of good stuff but uh he sure had weird political views hey thanks for joining us buddy we'll have you on again soon okay don't forget that we think we want to have you on then you bet change million folks wolf trader dot com are you in the market for buying or selling real estate in the bay area including the surrounding st petersburg tampa and clearwater markets tiger real estate llc is a firm that has extensive experience in the tampa bay area whether you're looking to sell your current property for maximum value or you're in the market for a second home or investment property tiger realty has the experience across all areas of real estate in the tampa bay area to help buyers and sellers make the most informed decisions across all price levels from the price you should be paying per square foot in certain up and coming areas to the type of cash flow investment properties are capable of creating tiger real estate can help you make the best decision when it comes to all areas of the market before you make one of the biggest decisions of your financial future call tiger real estate llc today at seven two seven three two nine eighty three twenty two or email us at tiger at tfnn.com that's seven two seven three two nine eighty three twenty two call us today the technology around us is changing every day with so much happening it can seem impossible to keep up with all the information david whites 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 david delivers his weekly newsletters every friday with updates throughout the week you can get the technology insider at tfnn.com for only thirty seven dollars and fifty cents sign up for david's newsletter the technology insider and get an inside look at everything the technology sector has to offer try at 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 etfs china a shares in either direction visit direction investments dot 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 don't forget you can listen to tfnn live on your mobile device 24 hours per day go to tfnn.com then hit watch tiger tv that's tfnn.com then hit watch tiger tv hey folks after we had chain on the line we've had a nice rally going here in the s and p we said we really needed to see it make a little bit more of a rally of coming off that 61 percent retracement and we're starting to do that but the key number to watch for folks is 4480 because that's a 382 of the high yesterday or excuse me the high yesterday was 4480 which was the 382 of that move down and so what we've done now is I believe we recovered 78 percent of that let's just double check no we're at 71 percent right now so the 78 percent of that move yesterday would bring the market right up to 70 44 68 so with about five points of that but we've had a big run here of about in the last half hour we've ran 20 points in the s and p which it you know is coming off the the bottom and also way above the opening price which is also important so that was giving you some indication that these markets was a little oversold and we are making that correction as we see it going on right now the thing that I'll be watching here is you want to watch the 382 of this whole move which will be be just a little bit above the 4480 level you want to watch that tomorrow I'll have that done in the new video for us by the way I posted the video in tf and in the den today that if you want to look at it you'll be able to see it that was a video that showed the 382 on the upside and the three drive pattern on the downside and what we were looking at for as a potential rally coming in today we've had a huge move here in natural gas here folks over the past couple hours and we went all the way from 50 excuse me 590 all the way down to 530 that's a huge move folks I mean that's that's 30 so excuse me 566 down to 530 that's 36 handles that's $3,600 for a move in the in the natural gas so it was it's really amazing because it's been it's been really wild I guess it's related to hurricane but we'll let the trading gods find out what that is I've got some interesting charts here also sent to us by a good friend Mike up in Canada and one of them is from Harry Dent Harry's been around for a long time and he is saying that we're in the process of saying something really bad happening in the Chinese market because of credit I want to post this chart you'll see this is the Chinese builder it's called Evergrande you notice that the price of their bonds have dropped 75 percent that's a low-grade a low-grade bond of course but he also furnished a chart that about major crashes in the the bond market and this is high yield bonds also known as junk bonds anybody's ever heard of Drexel Burnham Lambert knows what that means but you can see here back in 2007 the market dropped 60 down to 61.5 which is a 42 percent correction and you'll see where we are now over the past 10 years well it's actually been 13 years we've made lower tops up here at 885 and if this thing starts to break you can see where we could go with these things this could really be very very ominous we need to pay attention to that when you see the market that we had in this our regular bonds and no that's true Mr. Bill Harry Dent has not seen many things positive but you know years ago he was the 30,000 dial man I mean he of course he abandoned that when it when it went down to uh uh 6600 you know I believe it was 1980 that was the 87 crash no that was the that was the low of the of the the 2009 bottom so that's it no no I don't do that and then also you know I worked with Mark Faber Drexel he was in the Hong Kong office and I was in the LA office but the you know Mark made a made a living on Doomer Gloom and he's very successful he's you know Mark does a lot of gold and silver trading and stuff and he does stock trading too but you know he's no dummy you know just because he's varies for a long time or a short time he trades in between so when you see these guys out there they they don't always uh you know what they're doing and what they're saying might be different things and that's true of me too because I might I might turn bullish on the stocks uh soon but I thought they were going to be a rally today just because of the three drive to a bottom pattern and the fact that we were extremely oversold what I'm going to be watching now being a Wednesday I'd like to see a three-day rally Wednesday Thursday Friday and that's what I want to see I want to see if we get the old a b cd working on that and then that's what I want to be acting on as we as we look at some of these as we go forward so I think those are a few things we've got a lot of things happening in a lot of these markets now I posted that wheat chart because I thought that was a really beautiful pattern that we had here I sent this out last week and even the broken clock is right twice a day Marshall you're absolutely correct we've had a really nice 30 some cent rally here and the only one against you about three cents and that's a big move now but it's very strong coming out of here so you've got to respect that there's nothing to do if you're long to eat you know find out where you want to take a profit or you know the worst situation put your stop at break even down there at 682 683 and then let it rip I would actually raise it up a little bit to maybe 692 just to protect at least $500 right now you have $1,500 in it if you did that trade and that's it you can see the three drive to a top pattern here back in between January May and then also into August and that's a perfect ABCD again you know it's really amazing folks when you give a lecture like I did in Las Vegas to a room full of people and none of them have ever as well there are some people in there of course seen ABCD because they were my students but you people had never seen it before they're actually amazed and then say well try my stock and then you look at that none of them have ever seen it before they never paid attention to look at a chart to see that that's what it's doing all day long because that's all that's doing that's what Mandelbrot said he said there's a little seed in there that makes this thing work and that's the ABCD pattern and when you stop and think that Mr. H.M. Gardley Harold McKinley Gardley he did this in 1937 and he charged $1,500 for his book it was probably cheap at that time that was a cost of three Ford automobiles you could have bought three Model A's at that time and so anyway those are those are some of the things from the history that we want to remember where we are okay it's just squiggly lines you're absolutely right but sometimes they mean something sometimes they don't but we know mathematically they're correct but Dr. Andrew Lowe has certainly proven that mathematically in his book the non-random walk down Wall Street there's one other chart that I posted last week that I still think you have to pay really close attention to folks this is the Fed chart about liquidity and you notice that the velocity of money is dropping folks you cannot have inflation with the velocity of money dropping that's a very very important thing to remember let's see if we have a oh zee's asking it was it was sponsored by the Money Show in Sarasota Florida they've been doing it well they've been doing it 25 22 23 years Jim Borkman and excuse me Tim Borkman and Jim Sugarman started it in in January of 1990 in Los Angeles that was the original one that I did and then I did most of them that's where I met Tom O'Brien was in the 02 Money Show in New York City at Times Square and that's when you could still believe me folks we were Times Square and we could still smell the diesel fuel from from ground zero I mean it was wow it was flat out scary I mean it was not a good time but that's neither here today we're going to take a little break and we'll get right back and we'll be ready to go for tomorrow's show no guests tomorrow and no guests Friday but I do have some information that I wanted to share we want to cover some forex stuff we'll be right back 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 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 YouTube channel and become the investor you were born to be TFNN educating investors our kids can rise and fall like the tides subscribe to Basil Chapman's newsletter the open call and you too can ride the wave Basil Chapman is an authority in technical analysis his Chapman wave trading system has been helping traders identify trends and capitalize on momentum in the markets since 1984 TFNN invites you to test Basil's proprietary Chapman wave trading methodology with a monthly subscription to the opening call newsletter for only $149 your subscription to the opening call comes with a 30 day money back guarantee as well as daily market updates on key indexes stocks and commodities ride the wave sign up for the opening call risk free today are you looking for a secured investment which pays you on a monthly basis the target first mortgage program may be the program for you the best rate on a five-year cd in the country right now according to bankrate.com is paying 1% per year a $1,000 per $100,000 invested the target first mortgage program pays 7% per year paid monthly on secured high value buildable properties in st. 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Petersburg Florida your investment can be anywhere from 100,000 to 500,000 you want to make 1,000 per year on 100,000 invested a 7,000 per year on a secured tiger first mortgage the tiger first mortgage program may be just the program for you the tiger first mortgage program pays 7% per year paid monthly for more information you can call 877-518-9190 that's 877-518-9190 hi folks this is Steve Rhodes stay tuned for another great hour of the trader's edge heard here at TFNN.com okay we're back folks and I want to chat just a little bit about the gold market because there's a lot of people you know in the world that thinks gold going to go to 3500 and stuff like that and it's certainly possible to do that but before it does that we've got to start seeing some really good type of action in the gold miners index and boy we have seen anything but that type of action I wanted to bring this up here to your this fact we happen to be short the gold from 1808 we're going to be covering it here tonight but you'll notice here we get this up here you'll be able to see this is the gold miner gdx which is the gold and silver miners you'll see that we had the rally on the 26th it was equal to the rally that we had here on the 7th and basically we've come down and we've basically been going nowhere over the last three days this is not a bullish chart folks in order for it to get bullish it's got to get above 35 we're trading at 32 24 right now gold is still acting bullish we've got a very very important number in the gold market those of you that follow the 24 7 newsletter I posted that with a video last night and it's very very important to watch that number that we're talking about as we as we look at it because that's going to be the telltale sign of gold's got legs or not remember gold can go up without the gdx that could happen but it's not easy for it to happen but it certainly can happen that means that the gold is in strong hands and they've got people trapped the wrong way and if that happens then katie bar the door because these things could really accelerate and we've seen gold and silver accelerate rapidly and it's due mainly because these shorts have to cover and they're not having much protection and that's what makes the market move we're not going to see that until we at least get the gold above 1840 then we've got a chance that silver's got to get above $26 an ounce and then we got a chance in the silver but on the downside we got some really important support coming up here so live every day in an attitude of gratitude and help your neighbors the best you can there's a lot of people in vegas that are hurting folks but there's other bases in the world we'll see y'all tomorrow building wealth trading in the stock market seems impossible to