 is a presentation of TFNN. The Trader's Edge with Steve Rhodes. Toll free at 1-877-927-6648 or internationally at 727-873-7618. The Trader's Edge. Now, Steve Rhodes. Good afternoon, folks. Welcome to the November 17th, the wonderful Wednesday edition of today's Trader's Edge show. I'm your host, Steve. Perseverance Rhodes, who absolutely knows that each of us should always be pioneers of our future versus prisoners of our past. Hope everyone out there is having a great day. Let's make sure we have an extraordinary one. The easiest way to do that is to always remember that life is happening for us, not to us. That's right. When you and I make that one little two-by-four shift, it means we can find the gift in every set of circumstances that life is going to toss at us. Now, today, you and I, we're going to go check on the circumstances of these markets. We'll go figure out what those bulls and bears, what those buyers and sellers are communicating to you and I just past 1 o'clock in the afternoon. I want you to know I'm absolutely grateful for your presence here. But more important than that, that's this. During this next 60 minutes, I'm here to serve you. So feel free to pick up that phone. You can dial on in 877-927-6648. If you can't, Alan, we've got you covered. Go ahead, let's those fingers do the walking. Send me an email. Send it to Steve at tfnn.com. And inside the subject heading, please put radio show question and in our Tiger's Den, well, any and every ping will do. So let's go ahead and get this show started on wonderful Wednesday. Of course, this is Tiger, Financial News Network. I'm Steve Rhodes. Welcome to less show. A little bit of a mixed bag here. The only indice to the upside right now is the NASDAQ 100. That's up 8 points. Otherwise, the Dow is off 135. About 4 tenths of a percent. Less than 2 tenths of a percent. Russell down 27. A little over 1 percent. Summice off 33. Trendy's down 213. We've got gold trading out at 1868. That's up nearly 1 percent. 15 bucks. Silver's up 21 pennies. 9 tenths of a percent at 2516. Lightspeed crew back $2.29. She's printing 7847. Lead the charge dollar-wise to the upside. You've got Amazon up 25. Followed by Braze, Inc. up basically about 25 as well. Tesla up 21. Back 17. Sono Group up 12. To the downside, it's Mercado Lube. Nearly 3 percent. 42 bucks. Shopify 30 bucks. About 1 and 7 tenths percent. Roku down 30 bucks. That's 11 percent. That's a big stinger. Not as big as Rivian Automotive down 15 percent. That's 26 bucks. To the downside, of course, I want to look at what you want to look at. Let's do this here. There was a request. We'll come to the request. I didn't get to, yes, a United Health for Tim. We'll do that during that. Hopefully, we'll do that during that second segment out there. Also, I want to pass along some information. Garro, I believe, called on Monday. At the end of the conversation, he said he didn't know about the TD9 count. Didn't have the tools for the TD9 count. I've had a couple people write into me so that I could pass this on. Garro, if you are listening, there's two places where you can get access to that. One would be if you have a thinkorswim application. Mr. Bill, the tiger's done reminding you to recall what's the tool called on that. So if you do have a TD9, a TD9, if you have a TD Ameritrade count out there, you can get access to that software for free. You can't pick up the TD9 count. It's not labeled TD9 count. I don't know if Mr. Bill's listening in or not if he's in the audience today. But that would be one place. And the other is a software charting application called TradingView. So I haven't used either of these. So I can't explain to what they do or they don't do compared to what you see on my system. But those folks that are using them say that it for the most part, the daily in the 30 minute typically work and sometimes the inter-day timeframes don't work don't match up to my charts out there. So Garro, if you're listening, and of course anybody else, you can take advantage of that as well. Because during today's show, we're certainly going to take a look at those TD9 count patterns, maybe to the upside and the downside as well as the key levels of support and resistance that they provide to us. Okay, we've got to get taken care of the housekeeping issues out here. So where do we want to begin with first? I'll tell you where we're going to begin with is we're going to go take a look at the US dollar index. So I'm just going to change screens here. Give me a moment to do this. And of course, what's going to pop up on the screen is not the US dollar index, but it's gold. And we'll come back to that. And obviously there's directional correlation between the two. But as you know, you've listened to the show, we have to take a look what's going on the other currency as well. But I'm just going to start with the US dollar index. So here you're going to see the components of it. So you've got six currencies that make up the US dollar index. Euro is the biggest one that's in your upper left hand corner, then followed by the yen, the pound, the Canadian dollar, the corona, Swiss corona and the Swiss franc out there. So those are the instruments that make up what the US dollar index is doing. Now there's an A to B equal CD pattern. I'll have it drawn in here. We can do it relatively quickly here. The A to B point is going to be from that TD9 count bottom looks like right up to that D wave out there. And I'm just going to take that line and then just go ahead and put it to the C point of the A to B equal CD. So you can see that we're in the one-to-one area. And if we did get a bearish reversal candle today, the one that could form, potentially could form, is a bearish shooting star candle. We don't have it right now. There's too much wick. If that body gets to be too large, we also won't have it out there. But if we do get that, we could suggest some type of change in trend. Now, you can see the Euro also, well, you can't see it, but the Euro also has an A to B equal CD to the downside pattern. So I'm just actually going to get rid of this. We're going to go for the larger one now that's in place. So the larger A to B equal CD price gets down to wave number 7. That's letter G on my chart out there. That's a bottoming signal. If we take a look at that A to B equal CD leg, we're just going to move this to the C point. That's going to be about right there. You can see that the Euro also, not surprising here, but the Euro also in that A to B equal CD pattern. So if you got a hammer candle inside the Euro, that would signal A by the D point. You'd expect price to bounce up to its oscillator and change line in the 114 and change area out there. So that's what we're watching. Now, with regard to, I treat everything really the same out here. What does Stevie mean by that? Well, if we're going to see a turn in the US dollar index, we're just going to go to its multi chart. Because if we're going to see a turn, we get a signal on a daily basis. We should start with one. If we're at the top, we should see topping signals on the intraday charts. So here, you've got a 30 minute, 60, 120, 240 and 5 hour chart. Well, turns out that each of these have topping signals. In the case of the 30 minute chart, it's Rosemont Dementicator top. In the case of the 60 minute, the same thing. In the case of the 120, TD 9 count, 240, TD 9 count, 300, or 5 hour chart, TD 9 count. So everything is in place right now for the US dollar index to move lower. On a weekly basis, this is going to form bar number 9 of a TD 9 count. Remember on a TD 9 count, that high conformer needs to form bars 8, 9 to the bar following 9 out there. So it could be next week, but we do have the signals as to what it's attempting to do. That is the US dollar index. The level that I would be watching. So if there's going to be some type of topping pattern, we will begin to see levels of support, key levels of support fail. In the case of the US dollar index at first level would be 93, 73. That is its TD 9 breakout level. That is where price moved down to as we were coming on the air at one o'clock and that has held. If there is a close below 95, 73, that will be the first chink in the armor. That will then suggest price is likely to pull back to the 95, 57, 95, 44 area, 94, 99, 9505. Those are the other TD 9 count breakout levels. Those are the horizontal red lines on the 60, the 120, the 240, and the 5 over time frame chart. So that's what to be looking for. Now most of you don't trade the US dollar index, but we do want to pay attention to what's going on currency wise for sure. So we just start with that. Now let's go switch back over to Goldilocks. The reason why that might be important is because Gold generated a TD 9 count yesterday. So we get back from this break. What we're going to do is we're going to go finish taking, we haven't started, but we're going to go take care of that for Tim, who's had to wait more than a day for that. So we will are really almost two days, I think. But we'll take care of that for Tim in just a few. Steve Rhodes with TF and then you'll be right back. 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. 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TFNN Educating Investors 8-7-3-7-6-1-8 Good back up folks so actually the first chart we're going to take a look at is the gold priced at all the major currencies out there and many people don't pay attention to this not you and I not during the 1-2 o'clock time session out there and the reason that we don't is that we don't want to trade with just personal information kind of you know think of a football game think of the NFL right you've got one offensive player one defensive player that have the speakers in their helmets out there I've often wondered you know with all the hacking that goes on there somebody's got to figure out how to hack into those systems out there and pass the you know wouldn't you like to know the plays ahead of time or you know but in any event and if you're the quarterback and you're watching all the defenders out there and what's going on we're the quarterback here we're watching what the defense is doing or what the other team is doing so gold pricing euros just as an example it's not like there's a lot of sellers out there gold pricing euros is at a new high out here gold in a yen you know made a new high yesterday slightly almost got to it today so not a ton of sellers that are out here and so such what and I had mentioned that during that first segment so I just simply wanted to bring it to that chart now let's go take a look at our multi time frame charts here for gold so remember just like the US dollar index we talked about if you're going to form a top or bottom you know you should see the same type of signals for the inter-day time periods here well in the case of gold yesterday was bar number nine of a TD nine count so but prices above that green oscillator and change line it's trading with inside a new profile that form I think we we may have discussed that so it signals really neutral now price can close above yesterday's high not today but if it can close above yesterday's high tomorrow or the next day than this TD nine count will have been negated but if we look at the 30 minute time frame chart that's maybe where our first signal might come from with regard to a further rally today it's got a TD nine count that is an 1870 60 we're 1870 10 right now but a close above 1870 60 would suggest a further rally and that further rally then should take us to the TD nine breakdown level of 1879 50 now if you look at the other inter-day time period time frame charts out here the sixties got a TD nine count the 120 it looks like it's going to form one by two o'clock the 240 has roads meant to mitigate our top and the five hour chart as roads meant to mitigate our top so it's not like gold is out of the system and it's why we're paying attention to why I'm paying attention to both gold and certainly the currency pairs out there but speaking of gold we've got one of our golden traders on the line that is John in Philly John thanks for calling thanks for holding how are you today Steve I'm very well thanks for taking the call and nice segue into my question which happens to be on gold okay very specific and I know you do that so thoroughly so I know you're indicating that gold will do just that no absolutely not such it I'm not suggesting that it will yeah so the tool that I would use that suggests that outcome would be the task market profiles for multiple timeframes so on this chart here that we're taking a look at you've got daily weekly monthly and quarterly and so we can see that looks like we'll have two consecutive close above the top of the weekly profile which is 1838 this week at Wednesday but if we do close above 1838 70 that's a suggestion of a change in trend and move higher what I do John as I go from weekly then I'd go to the monthly well even though we're not at the end of the month right now price is taking on the monthly top of its profile and that's at 1866 10 we're trading 1869 so if we close above 1866 10 at the end of the month then for the weekly and for the monthly we will have a breakout above a key resistance level and the quarterly chart is one that's in the bottom right and the quarterly chart shows that prices above the top of that profile has been basically for the last three quarters so all of these are indications John of a market that wants to continue to move higher and now we step back and take a look at the daily time frame kind of the noise of the chart and what we have out here as I mentioned is we have that TD9 count top we're looking at the other screens out there and we have a new bearish structure profile a close below the center indicates that we should go down and test the bottom of that profile at 1813 but the first level 1851 is important but that green oscillator and change line the charts that we're looking at before I took your call is price is about 1850 and we're looking at the bottom of that profile at 1813 but the first level 1851 is important but that green oscillator and change line the charts that we're looking at before I took your call is price is about 1846 1845 so that's those are the two levels to be watching and then that would suggest to me that the buy point would be about 1813 60 so that's what I see when I take a look at the charts out here is that this does that make sense yeah thanks very much that was very thorough I appreciate that I share with you just one observation that I made only after I was the evening and today yes and this I observed last I guess it was what it was last Wednesday that 1870 high yeah I think that was inflation data release that particular day but okay that big that out up to 1870 and then 1870 what's that 45 bucks up intraday pullback 27 bucks intraday no so you know we I certainly didn't predict what chart worked last night at dinner time was that interestingly yesterday at 1879 declined 28 yesterday pulled back 20 I looked at all that pattern and I'm saying holy cow that might have just bottomed an interesting interestingly enough interesting the exact low and there we are so I just share that observation and we'll see where it goes sure hey thanks for that observation wonderful that first move back that we were taking look at that may 10th as price pulled back it was the bottom of its profile 30-minute profile that I'm looking at that held and last night I didn't have really a bottoming signal other than prices sitting on that point of control where both buyers and sellers believe there's fair value within the range of 1813 to 1879 so John if price takes out 1879 I mean closes above it that suggests that the rally continues I just think we're in a little bit of a cautionary time period here but so hey thanks so much for calling always great to speak to you and we'll look forward to speaking to you again that was John and Philip we'll be back in just a few folks we're going to be treated by a call from Garo in the Yukon we're going to take a look at Apple Steve Rhodes with TFNM we'll be right back are you having fun trading the markets but having 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UConn right now Garo thanks so much for calling thanks for holding how are you doing today I'm doing very well how about you Steve excellent excellent I hope you heard the earlier segment when I mentioned there's a couple different places for you to get the TD9 count patterns did you hear that yes sir I checked with trading view that I went to their site I liked it very much I traded with Schwab now it's 27 years with Schwab they're very very good their charting system is very good they don't have that feature and I'm going to talk with one of their active trader people about how I'm going to get to Schwab if not then I'm going to go get it from that trading view perfect perfect well good glad that we could help you out that was all the folks that listen on the show and they wanted me to pass that on to I recorded the show yesterday morning as you probably know at 8 o'clock and thought I'd wait till I did the normal time frame in the normal segment so I know you call to talk about Apple which I see there's a parabolic star dot flip today so tell me what you're doing how I can best help you I was been watching that for about two weeks now to see that when that candle is going to hit the top top dot on daily chart and today it did it and I bought it 300 shares at 152 dollars even and now I don't know should I keep it until 157 after that is going to roll down or this is only one day show you know it's a great question and so first the price target area that I have that's going to be resistance or should be resistance is 155.48 that's part of that TD nine count pattern that was the high of the TD nine count the most recent TD nine count so that's the that's the breakdown level and if price can close that then it gets back to it's all time high so let's take a look at the positive end so I know that there's resistance we know there's sellers there and we know there's sellers at the highs from September 17th and that one 57 level your your target stage so the interesting thing about Apple and we'll know more perhaps at the end of the today's trading session is it's taking on as well I just let me switch back to a different set of charts here it's taking on a swing point a B point potentially of an A to B equal CD to the upside and that's from the trading day about October the 28th the volume on that trading day was a hundred million shares it's 132 we've been trading for four hours we're at 60 million shares seems like we're going to be a little bit light but if we do get the volume that sets up a very large A to B equal CD to the upside prices trade above resistance on the weekly pro as far as weekly profiles right now 152 84 but this is really a coin toss here now the reason why I say it's a coin toss even though I gave you kind of the bullish in the bearish case out here the reason it's a coin toss at this moment is because the daily time frame still has a Rosemont Dominicator top that needs to be respected not until price that out would we have some type of break out of course I know your question was right to the 157 level and we'll look at the short-term time frame chart just see if there's any intraday time frame signals that say hey you know maybe now's the time to go ahead and take those profits but just from a larger picture the daily still has a topping patterns in place so too does the weekly the weekly also has a Rosemont Dominicator signal and wave number seven so not until those highs get taken out I mean close above will we have some type of confirmation of a large A to B CD to the upside which might be setting up the monthly time frame also has a Rosemont Dominicator signal so all of these are reasons to be cautious and the reason why I I shared with you girl that it's for me it's almost like a coin flip here with regard to Apple I could make a case for it to go in either direction out here so let's go to the short-term time frame chart see if we can assist you with that as I take a look at a 30-minute time frame chart I don't have any signals here to suggest that you would trade get out of the trade right now everything looks everything looks good if I look at a 65-minute time frame chart here as I populate this no signals here to suggest that you get out the hundred thirty minute time frame chart the same thing the hundred ninety five minute chart the same thing as well so typically when we see some type of topping signal on let's say a daily time frame or getting into resistance we would see something similar at least in one of those intraday charts and we don't have it but the question becomes you know price could easily get to one fifty five though we don't see it on the intraday charts girl that's where resistance is and price could turn down so for me it's it is just it's a coin toss here I can absolutely see it continuing to move higher out there but I just know that we're running into potential sellers out there this might being confusing or no no it's fine no I know what you say I know what you say yeah you know what the signals we would normally see this is going to go up to hundred fifty five from here I believe so I believe so that's the price I can't I can't I will sell it at one fifty five fifty or one fifty five thirty I'll get out of it and see what will happen tomorrow because apple is a little bit I'm very leery I'm very apprehensive regarding this at this apple it's not moving the way it moved a year ago or six months ago it's so it's very very tricky and it's very yeah it's very but very well yeah and I say girl I'd say you know your overview is really fits along with what we're seeing in the charts I just think we're at a tricky time period here and you know I hate being able I mean I always like to take a look at both sides of the trade absolutely but in this case here I can really make both sides of the trade you know and so I'm not clear which way it's going to go I just know that you know there's potential detours ahead and so yeah I so I like your strategy I don't see a reason to sell you know come the end of the day you might decide something different but right now you know as I nothing more that I can add to to your thought process there yes okay okay that was very good by the way today your left eye is getting rid with red redder than yesterday so yes well thank you I was hoping nobody was going to see that so as you know I was at the eye doctor on Monday doing my quarterly check out on my diabetic retinopathy that's bleeding behind the eyes if you don't know what that is and I got a really good report there and then yesterday all the sudden my left eye started exploding and when I woke up this morning it was like I was in a big bar fight so I'm going back to the doctor at 3 o'clock today there's an infection I must have picked it up while in the eye doctor's office of all things so it is what it is but thanks for noticing it now I know that it's very clear to see yes sir I wish the very best for you thank you very much for your time and all the considerations thank you sir have a nice day always good to speak to you that was Garo and so let's take a Tim and ask about United Health so let me try to get to UNH is the ticker symbol here let me get that going on my white background charts let me also get it going here and I think Tim was just simply looking for levels so for example support levels which by the way United Health is sitting at a support level in essence right now and that was the bottom of its profile Tim that's at 450-83 if that area doesn't hold the likely next move is down to about the 428-46 to 431-36 those are the top of the weekly and monthly profiles out there so when I pull over United Health then that's a real possibility here Tim because United Health does have a roadsman to indicator top for its daily timeframe but price is done what it's supposed to do get back and test support that support is held so it's kind of a neutralish type signal right now neutral until price would close about 466 I don't know if you're long if you're short what I would say is that you're not held closed below 450-83 the bottom of that daily profile yes it was closed below that that suggests that price is going to move to 417-8 417-80 the weekly chart is sitting at support that's at 449-44 another key level to be watching so Tim thanks so much for being patient and waiting that's United Health I hope that helps you out and we'll be back in just a few folks 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 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count top let me get my cursor out here that took place on the trading day of September the third so that high is the key level for you to be watching if price is able to close above that high that high is 4881 we're trading at 4823 then the answer is yeah the bull market continues it could even set up an A to B equal CDTPS that would be rather large very similar to what Apple would do out here so right now the signal is really neutral because price is trading above the top of its bearish structure daily profile it has been for the last four days so that's a positive but it hasn't taken out that high so if you're long I would stay long out here and I would just but you're up against resistance at least well that's the weekly timeframe chart that I was looking at by the way so there's a weekly TD9 count sorry about that not really sorry but now let's go back to the daily think I alluded to we were on the daily the daily has got two roads of a dominicator tops so one that took place back in September another one that confirmed out here on November the fourth so again the daily and the weekly say price is going to take those levels out the daily is set price back to support the bottom of its daily profile 47 46 again here you've got a consolidation of daily time frame so we're going to call this not so not so much bearish but not really bullish either until price closes above those high so I hope that that helps you out XR resting before making a run for weekly B point yeah exactly that's resistance with those topping signals out there so we just simply respect them until they actually fail so hope that helps you out thanks much writing in a Susanna Susanna writes in and a Susanna wants to take a look at Mara m a r a is the ticker symbol so let's do this here I'm going to do that on a different chart one that won't take as long to populate and let's also get that going on my black background charts or his signal charts out here and so we take a look at marathon oil price right now is below the bottom of its daily profile kind of close below it or right on it yesterday so it's suggesting to us that marathon oil may want to pull back further profile wise the target is between 30 to 46 and 35 38 top of the weekly top of the monthly but let's pull over our other chart from Mara see what else we can do to help Susanna out and one of the things we're going to notice right now what price is doing this is the bad news potential bad news is if you see a close below 52 29 that's going to suggest a change in trend that change in trend should take price back to 31 89 now yesterday 52 950 229 which is his TD 9 count breakout level was tested and held today you're below that level so I mean really Susanna 82 consecutive closes below 52 29 but the first one says hey be careful out there on a monthly basis support out here is 36 05 so your questions are I am one do I add to my position or is this going lower so do you add to your position I wouldn't add to your position right now not based upon the way that prices trading below this 52 29 area now what I don't have here is an intraday chart so let me do this here give me a moment we should at least provide that to you so let me go over to another chart and Mara get that going we'll take a look at a 30 minute chart out there meantime she probably should have done what I just did but I already did it so that's the way the cookie crumbles out there but I just want to go to look at the short term time frame charts for Susanna what we're looking for is some type of bottoming pattern signal so on a 30 minute time frame you do have a TD 9 count a pattern don't have a confirm roads meant to mitigate her pattern what price would need to do and I'd rather you pay more for the proof that okay support is held and things might move higher is I'd like to see price take out on a 30 minute basis TD 9 count breakdown resistance that's at 5740 5754 so real specific here if you close about 5754 then the answer would have been yeah now is the time to add but with price below the TD 9 breakout level on the daily basis 52 29 that she says caution because a close below that says you know what add your position around 3189 at least that's the information that we have as we speak right now so hope that helps you out Susanna thanks so much for writing in the next question coming in from Robert H. and Robert says could you give your opinion on ACB aurora cannabis absolutely so let's pull over the day we've got the daily weekly and monthly charts out here so with regard to the daily time frame what we have is a A to B will CD pattern that was confirmed with this dark cloud cover camera you can visually see it no reason for me to draw that in there now what price is doing it's pulling back and is testing support and support here looks like it is at 666 so we're not down there I'm not saying price is going to get down there just yet but this is a bearish structured profile what price should do on aurora cannabis ACB is get back to 769 that's its oscillator and changeline because you do have that confirmed so the deep point if price were to close below 769 then Robert you'd be looking at 666 that's the message from the daily charts the weekly chart messages of prices near support 45 11 but if that level fails 5 would be the number the problem is that on a daily time frame I don't have a bottoming signal right you go to the weekly and it says okay I'm at support you'd like to see some type of support or something on a daily time frame don't really have I mean like it's above 769 so it's a version of support but you'd like to see that level tested the monthly time frame price below its oscillator and changeline so yeah it looks like aurora cannabis ACB wants to pull back further and if it closed below 769 it's telling you what's the most number of 660 we'll call it 667 we don't like any doubles during the one to do that of course the devil isn't the details really is a double really detail oriented I'm not even sure where that comes from but what does it matter so Robert I hope that that helps you out thanks much for writing in Dave W writes in and Dave's okay Dave was the one who gave us a sequence counter you also want to take a look at Lucid this is Dave in Denver LCID is the ticker symbol LCID let me get that rolling on the white background charts LCID on the black background charts that's what you have on your screen that's Lucid group so Lucid group right now is trading at 52 38 is above daily and weekly profile so all that looks good and that means what that means why didn't it take okay so let's go to just simply the daily LCID okay probably typed in the wrong symbol I wasn't paying attention and so let's pull this out and your question is please take a look at Lucid if we have time well what did I do there okay here we go so we take a look at it today could confirm a sell the d-point and a roadsman demindicator top so you've got two patterns that are in play here now price needs to close below the center of yesterday's candle if it does that then what you'll generate is a dark cloud cover candle what that would then tell you Dave is that price should go target it's a change line 46 63 that's that first level of support if that level holds then price continues to move higher if that level fails 4203 is the next level and below that you'd be looking at 34 52 to 3602 so the potential for a top just depends on whether price closes and say it's around 52 65 I would guess but I don't know just you take a look at yesterday's candle just look at the body the candle figure out where that center point is if you're not familiar with bullish and bearish reversal candles if it closes below the center of that you've got a dark cloud cover candle on lucid l c i d I hope that was a lucid comment see roads with tfnn we'll be right back sharpening your skills as an investor is like getting better at playing a musical instrument you have to 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