 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, Lewis. Our guest today at the half time break will be Paula Douglas. Don't miss the show on Thursday, folks. We have, you know who, he calls it to the minute, Norman Winsky and he will be our guest. A great number of responses to have Norman back and we will have him back on Thursday to talk about the full moon, I think that's coming up if I'm not mistaken. We'll take a quick look at these markets. I posted the chart of the German DAX. I got hit quite hard bouncing back a little as we did yesterday, but the footsie has held up extremely well. I mean, given the other markets that are out there, my opinion is not changed. I think we've made some type of a major top up in here. We've had some great volatility. That's just going to increase what you've seen so far this year. It's going to be replicated over and over again, folks, because we have a big window in here with a lot of people in ETFs and stuff. And I think when that door opens and they try to get out, it's going to be a little harder than they might think, but that's down the road. Right now we're seeing some things going on. I want to review what happened yesterday because I had probably more emails about that than anything I've had in a while. And I posted what I thought the AI was going to do for the day. I'm going to review where we were. Let me just put this up here to show you some of the things that we were talking about as we were on the air yesterday. As we begin to look at this chart here, this is where we were. And as remember, we started right at 11 o'clock Eastern time yesterday. And you can see we were right near that level right here that we were watching. I just posted that. And all I did was I wanted to show you how markets repeat over and over again. And if you remember, that's exactly what we tried to do. Now, the next chart is the same pattern that I looked at. Only what I did was I drew in the ABCD patterns that shows you the repetition. If you look closely at this, you'll see that the black line from December the 18th down into the 20th, that three-day drop, okay, that was definitely equal to what we had yesterday, almost to the exact ticket 4560. That's exactly what we were watching. Okay, now at the same time, if you remember, I was posting the AI forecast, which forecast that the market was going to rally the rest of the day. Everybody remembers that that's what happened. But let's just try to see what's happening today. And maybe we can learn a little bit from it, okay? So here's what we were watching today. I want to get this up here so we'll be able to see this easily enough, I think. Here is the chart that I posted about an hour and a half ago that we were looking for the market, the bottom right around 1030 or 11 o'clock. And right around that 46, I think it's 4638 or something like that. If you'll give me one second, I think I updated it, but I'll have to find that these things are getting a little hard to read sometimes. So it makes it a tiny bit more... I think I did that one. Now, that's about as close as I can get, because I can't change the chart now because of the fact that, ah, I got it. Shut the front door and raise it in. I knew it was here somewhere. Hold on. There is where we are. And there you can see we were down at the 4538 level. Excuse me, 4638 level. And that means we should start to rally, and it looks like it should rally the rest of the day. Now, what's different about this today is the fact that we're at a much higher level than we were when we were way back at... We're 100 handles higher. We were at 45, 56 yesterday. Now we're at 46 and change. Now, the key is this is based on time. Now, this is the concept that most people really don't understand. It has nothing to do with the price scale on the right there. It has all to do with the scale on the bottom, which is the time scale. Dennis Regan, the fellow that did the artificial intelligence program for us, who was responsible for building the Tomahawk warhead missile. And he said that the markets, in his opinion, were time sensitive. And if you could figure out what the beat of the time sensitivity was, it would be grateful in day trading for shorter-term trading. And so what we did is we bought a MIPS computer, which means millions of integers per second, and we started testing time sequences in the S&P, the British Pound, and S&P, British Pound, and crude oil. Because we had a lot of data on that, so we went back and tested it, and we found out, yes, by golly, this does have some really good ideas for it. But the problem is sometimes it doesn't work. Now, today, if we're making lower lows in the next half hour or hour below that 46-26 level, that's not going to be a very good sign. Yesterday, it lined it up absolutely perfectly. You were right at the time. You were right at the price. Everything lined up just as perfect as you could possibly get. Now, this was not a bad setup that we had today, but it wasn't perfect like the one we had yesterday. Now, you might think this is really complicated, but frankly, folks, it isn't. When I do the next day trading session, we'll do sometime in probably late February, March, I'm going to show you, folks, how you can do a quick and dirty way of looking at this, and it's actually pretty good. I have several students that do this and have done a really superb job at just looking at these. What it basically is, it's the heartbeat of the market, folks. But the problem is the market doesn't have, it has an irregular heartbeat. It skips and beats, and skips and beat has tectocardia, bradycardia, and then it comes back and gets back normal, whatever it does. What you've got to try to do is to match the price with the time. And that's what we were doing yesterday. It worked yesterday. Hey, it might not work today. All I'm saying is that which we're watching. Today, we had a beautiful setup in gold for a buy. We had a beautiful setup in crude oil for a sell. And both of those returned really good for the first two hours that we did it. And remember, when you're trading with a MIPS system, in other words, millions of integers per second, you're not looking at weekly or daily charts, folks. You're looking at the time of day so that you can get your risk down to absolutely nothing. And that's what you really try to do when you're doing this. I tell this story, but people, maybe you forget it, but when I first got involved with Dennis Reagan, Steve Shapiro just gave me one of these little thermal faxes back in 1990 that he got from this guy in Bakersfield. And I overlaid it. And it said the S&P was going to bottom at 8.30 in the morning and it was going to rally all day. Well, at 8.30 in the morning, it was making a perfect garterly on a five-minute chart. And I bought it. And this is when we were trading for each point was $500, not $50. So I had four of them on and the market rallied up well over $2,500. And I was happier than a pig. And you know what? And so I called Dennis. I'd never talked to him before. I said, hey, I got this thing from Steve Shapiro. And I want to tell you, it was a really good thing. And it was only like 12 o'clock and it was two hours to go for trading. And I said, great job. And he said to me, you stupid MFS. So I mean, he would words that I even, I don't even use and I use everything. And I said, hey, I don't need this stuff. And I just hung up on him. He called me a stupid SOB. That was probably the only thing he said it might be right. But anyway, that was it. I told Steve, I said, do not send me any more of these. Well, he sent me another one and it worked. And then I said, I don't know if I want to do anything with this guy or not. So I talked to Jimmy Elder in Birmingham. He was my second student that I ever had. And Jimmy was a Harvard grad. He says, well, we got to look at it. Well, that's how it all got started. Hey, we'll get back to business when we come back up. We want to talk about one of our favorite stocks, Nike, Nike. We'll be right back. 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 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 in 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 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 TAS Profile Scanner is the premier market-profile-based scanner. Powered by its acclaimed TAS proprietary algorithms, this feature-rich scanner instantly filters over 2,500-plus global financial markets, such as stocks, ETFs, commodities, futures, and forex. This powerful suite of tools leverages instant trade filtering and strategy formulation to show you emerging trades before they happen. For a limited time, you can save $100 off your first month by using the promo code UPGRADE and you still get a 30-day money-back guarantee so you have nothing to risk. Level the playing field with the TAS Profile Scanner, which you can find under the Services tab at tfnn.com. Sign up today. Sharpening your skills as an investor is like getting better at playing a musical instrument. You have to practice, sure, and you also need excellent instruction from experts. At TFNN, you'll get advice and guidance from the authority in 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 4.00 p.m. Eastern. For free, each host is an experienced trader who can 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. 727-873-7618 Okay, folks, someone asked the question, why was Dennis mad at me? Well, the reason why he was mad at me and called me so stupid, he says, don't you see that it's going to go up the other two hours of the day? In fact, it did. That was the most explosive part of the day. It went up another six points, so 10 points. You know, that was a $5,000 move back in those days. But anyway, that was the reason. Later on, he calmed down, he really lost a lot of money trying to do it himself, that he started to do it. But the idea is certainly good, but it's like I say, it's like anything else, part of the time it works, part of the time it doesn't. Now, let's talk about Nike. Bo brought this to their attention here at the TFNN, then here way back in early December, mid-December. And then you can see here, when it gapped up to the 61% retracement, it was already in a bear market. It was making a 1-3-5 pattern to the downside, as you can see. And then we rallied up there with incredibly bullish news, if you remember. It was the most bullish news that Nike, I think, had almost ever reported. I mean, everything in China was rocking and rolling. Everything else was rocking and rolling. Just incredibly bullish news. It gapped up, stopped right at the 61% retracement. And then look what's happened to it since, folks. This is a perfect example of a stock that gets really, really, really good news with bad, bad reaction. Boy, that's really telling you something. If a market doesn't go up on bad news, buy the heck out of it. And if it goes down on good news, be careful. Because what you've got to realize is that these people play games with these things. I mean, you might find it hard to believe. But by the way, we just rallied dirty handles from that low we were looking at in the S&P down there at 38. We're now trading. And someone said, oh, I just saw the TV 43.72. So we've rallied 36 handles. And not only that, but we've taken out the 382 in the NASDAQ that was sitting there. And I'll go over that in just a minute. So remind ourselves, when you see the news like that, be a little bit skeptical. The one thing they can do for you, folks, is they can't lie to you. Excuse me, they can lie, but they can't hide. The reason for that is, if prices go up, there's more buying. If prices go down, there's more selling. That's what you have to remember. He doesn't make any difference who's doing it or why. That's what's happening. Because you're not going to know who's doing it and why. But you can see it on the chart. Another chart, if you remember, we were talking about Mr. Munger, the 98-year-old trader with Warren Buffett. And if you remember the stock that he was really interested in, which was Alibaba. And here's a perfect example. We have a beautiful pattern down there. You can see the 127 expansion at 109. Well, he came out at 118 and said, I really like, you know, the Alibaba. And of course, everything he touches turns to gold. And that's what's happened. Just like in the movie with Gordon Gekko, you remember Michael Douglas and Bud Fox and the Bud Fox, he had to call up and he said, blue horseshoe likes Indigo steel or whatever it was. Well, blue horseshoes like Alibaba and the whole market gaps up and now the stock is trading at 133. And not only that, it's trading up during an absolute, really almost a mini route in some of these stocks that we've seen. So that's the main thing to remind ourselves that that's what we're doing. We made some type of a very important bottom yesterday, and girls, we brought that to your attention several times. The first with that S&P stopping exactly what it was doing. It mimicked exactly what it did before. So why not think it can't do it again? And all it's done so far is we've went up and we've actually touched these numbers and now we're starting to go higher. To me, the ideal situation, because I'm overall long-term bearish, I would like to see a rally here for about three days just to show me what it can do. We've got Monday, Tuesday, we've got Wednesday and Thursday we've got Norm Winsky on. He'll have something interesting to show us. So that's what I'll be looking at. When it gets to those numbers, then I have a place to say, okay, this is where I can make a statement to do that. And that's really what I've been trying to do. If you remember, folks, what I thought was probably the easiest trade and Basil touched on this a little earlier is that we were watching this. This comes directly from the newsletter, by the way. The perfect symmetry that we had here at the 1.27 here in Treasury Notes. We've only had two updates in over a month in this darn thing, actually a month. And you'll notice we were 13 days down from the high. You can see the sequences that we've seen with 13 days down. Sitting right at the 1.27, the low was one tick lower than that 1.27. It's rallied well over a full point and is still holding up relatively well. So if you're in that, you know, you have your stop at your break-even point and, you know, this is so oversold you could get one heck of a rally. Now, I know the Fed Chairman's out there today talking about what they're going to do raising interest rates. Folks, those interest rates stuff, they've been talking about the interest rates have been going higher for a long time, okay? And so what's going to happen is these Treasury bonds have bound to get a short covering rally. And that's what we're seeing right now. It's just a short covering rally. How much it goes, I don't know, but longer term, you know, interest rates are going to go higher. Those are my opinions of the things that I'm looking at. Here was a trade that we had yesterday. Someone asked me to comment on it because we had a really nice profit in it at one time. And, you know, part of these things is you got to know when it, but we shorted it right at the 382 and we were looking for the price to come down to 77. Well, we had almost $1,000 and we had $800 profit in it. But what we decided to do was to keep our stop at break-even, but we would take profits at that 77-25 level. Well, what happened was it started to rally and it started to rally and it went up and it's already exceeded the 78% level of this. We're already trading at above 80, which means we've really broken out the debt side. So that was a break-even trade. And all we're doing with that is to try to keep the risk control just as absolutely tight as possible as we follow these things. Now, yesterday's bottom, I wanted to bring this to your attention here because this was the NASDAQ and this is why we were on the air. I told you yesterday this level of 15,100, that was two standard deviations folks and below three standard deviations, that's where the real problems lie and it didn't go any below that. I mean, there was the absolute little right, you can see, 11 o'clock yesterday, that's when I posted it. And there it is, 15,155. And I said, there's two standard deviations. I said, it's got to stop right here. And if you went and looked at the chart of NASDAQ and guess what we're going to do now, boys and girls, we're going to look at the chart of NASDAQ because we did the same thing yesterday. Whether anybody paid any attention to it or not, I'm not sure, but here it is. There's where we were. You're going to see the same price as we got it up here. The reason why I'm doing this is because repetition is the mother of knowledge and the heartbeat of invention. So there we were right at the 61% retracement, sitting there two standard deviations and boy, if we fail there, baby, it's all lights are out. But the lights are okay. Now look, you can also see the large ABCD pattern that was there from November the 22nd, the day after day before Christmas Thanksgiving. You come down, you make a low on your B point on the 18th of December, rally up to point C on the 27th and then down yesterday making that an ABCD 618, 1.27, two standard deviations, everything that said, let's rumble. We'll be right back with Paula T. Douglas. Are you having fun trading the markets but having trouble finding like-minded individuals to discuss your trading and investment ideas with? Become an apex predator in the trading markets and join the Tiger's Den Trading Room only at tfnn.com. The Tiger's Den is an exclusive trading room where successful traders from around the world come to exchange trades and ideas. Join the den and surround yourself with the sharpest minds in the trading world. Subscribers to the Tiger's Den are also the first to have their questions answered live on air and can privately chat with our tfnn hosts live during their shows. 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This segment is brought to you by Think or Swim. For more information, just click the Think or Swim banner on the front page of tfnn.com. Okay, for back folks, and I believe we have Paula Douglas on the line. Paula, how are you doing? I hope we have Paula on the line. They told me they did, but who knows? Well, I don't seem to have them. I'll check with the tfnn here. And maybe they'll give me broadsword to Danny Boy, broadsword to Danny Boy. Come in, Danny Boy. Well, doesn't look like Paula's with us. So let's keep moving on. One of the questions that I had for her today is, well, they must be having... Listen, if she's not responding, it's because there's something more... Wait, wait, wait. Hello? Hello. Broadsword to Danny Boy. Broadsword, the chicken is in the pot. The eagle is landed. Oh, yeah. Yeah, sorry. My phone was half out. I could hear you, but you couldn't hear me. Sorry. Okay. That's not a problem. Before you get started with your presentation, Paula, we had a question from one of our listeners here at tfnn and the den today. What's the first step that you use when you have a trader that loses consistently? Well, I have to ask them, number one, if they're following their rules. That makes good sense. If you're losing consistency, you have to go back and look at your actions. Are you following your rules consistently without fail, or are you using your rules sporadically? Okay. So, you know, so they have to go back and what I tell them to do is go back for at least the last six months, go back to your trading journal, which you all should be keeping, and go back and see on those days, see how many times you followed your rules. You don't figure out what your percentage is. Okay. This week, I followed my rules 50% of the time. Well, okay. Then you need improvement on that week. The next week, maybe you followed it 75% of the time and you had better trades. Well, what's I tell you, you need to follow your rules. I remember. I mean, that's where we start. That's where we start anyway. I remember Mark's favorite thing was to take baby steps. You can't change this stuff overnight. And I remember that, you know, one of the things that I always had the big problem was watching the monitor all the time and Mark weaned me off of that. The way he did it was, you can't watch the monitor for five minutes, then you can't watch it for 10 minutes. And as you get to a half hour, then you realize it doesn't make any difference. Whether you watch the monitor or not, and it proves to yourself that, you know, you really shouldn't watch the monitor because you don't have any control what this trading is doing. You can't control your risk, but other than that, that's it. Tell us what you're looking at today, Paula. Okay. Well, what I thought we'd talk about today is it's a brand new year, and we have an opportunity to start anew, which we all talk about, you know, New Year's resolutions and all that. And that's not exactly what I'm talking about. What I'm talking about is, as Marcus Aurelius wrote, you have the power over your own mind, not, however, on outside events. So, considering we're living in an uncertain world right now with pandemics that don't seem to be going away, we truly don't know what's going to happen next in the markets, especially in the markets. So, we teach that, you know, every moment in the market is unique, but, you know, we didn't really have to grasp that concept until the last 18 months to two years with the lockdowns and all this kind of stuff going on. So, now we really have to believe that you don't know what's going to happen. So, how do we address that in the new year? You have to start keeping a personal journal, as Mark did, every single day of his life, every single day. I have boxes of his personal journals, which someday I'll make public after I edit them, of course, if there's any references to me or, you know, in the bedroom or something. But anyway, I'm just kidding. But, and the point is, is that he wrote down every morning before he traded what his goals were. What did he want to accomplish? He had his coffee. He had his routine, as I think I've mentioned previously. He had his favorite shirt on, you know, and he had his bagel and cream cheese. And only after that did he sit down, turn on the computer, and start trading. So, you have to have a routine that you're comfortable with, that works for you. And I'm not suggesting that you should follow Mark's routine or my routine, but you have to have a routine. But first and foremost, you have to have some sort of personal journal that you are keeping track of everything you're thinking before you put on any trade on any given day. And then at the end of the day, you're going to go back and you're going to say, okay, how much of my goals did I accomplish? And just start keeping track of that. This is how you're going to build consistency in your thought processes, which will translate over to consistency in pointing and clicking your mouse. Boy, you know, I think the people would really love to see some of those journals. I happen to see him because he wrote a lot of them here during the four years that we worked together while always doing trading in the zone, which you forgot the most important thing that he did every morning. The very first thing was to take ticker for a walk at four in the morning. Yes, that's true. Yes, that is. I remember the first week you guys moved to, you lived about a half a mile away and Mark was being chased by javelinas, remember? Oh yeah, right. Oh boy. Yeah, you told him to stay away from them and he's like, oh no, they're okay. Until the mama javelina came after him. Yeah, that's for sure. For folks you don't know, javelina is a wild pig here in the desert and boy, they're everywhere. There's, oh my gosh, there's thousands up in this area. Okay, Paula, anything else you'd like to share with us? You are offering anything special in the beginning of the year? Well, you know, as always, if you have an invitation, call for your free 30-minute chat. You can call up and ask your questions and it'll give you a good taste of what I can do for you and how I can help you. Yeah. Just start keeping that personal journal so you can start building consistency in your trading. It really does work, guys. Larry knows this, I know this, Mark knows this. I know a lot of you younger traders are like, oh, that's girl stuff. This is professional trader stuff and this is coming from some of the best traders on the trading floor that I knew way back when in Chicago. That's correct. You have to learn from your mistakes or you're just not going to do it. If you don't learn from your mistakes and you're just not going to learn at all because you're going to make mistakes all the time, you've got to learn from them. That's the whole key to this. Right, if you don't have historical data to go back to, then you're going to keep repeating the same mistakes. Yeah. One other thing Pete because Mark knew that I had a hard time with the journals until I realized I didn't have to write seven or eight paragraphs. He said write two or three sentences. Exactly. He said put the bullet points in. I screwed up. I didn't put a stop. A, I didn't do my work. B, listen to somebody else. He said put those in there and after a while he was doing the same thing over and over again and expecting a different outcome. That's a definition of insanity is what Einstein said. Right. Yeah, that's a good point. We're going to have you again in a couple of weeks. Tell the folks how they can reach you and we'll have you on in a few weeks and chat with you again. But where's the best ways to reach you? MarkDouglas.com You can follow my Twitter. It's underscore MarkDouglas and you can give me a call 442-268-548-0. PT, thanks for joining us. You bet, dear. We'll see you in a few weeks. Follow Douglas, we'll be right back with some more for TFNN and all the folks in the den. 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 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 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 727-329-8322 or email us at Tiger at TFNN.com. That's 727-329-8322. 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 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 $37.50. 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. 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 866-476-7523. 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, 4-Side Fund Services, LLC. Don't forget, you can listen to TFNN live on your mobile device 24 hours per day. Go to TFNN.com and hit Watch Tiger TV. That's TFNN.com and hit Watch Tiger TV. Okay, folks. I have a... First of all, I posted a chart here of the E-mini that we were looking at earlier today. This is a... This is just to give you a rough idea of what I watched. Now, you see the green line on the left, that was Europe. You can see around 4 in the morning, it started to roll down. We went all the way from 4690 all the way down to 4638. The low came in. You can see right there when we were starting to show at 11 o'clock. Here we are a little past 1130 handles higher than that. That pretty much gives you an idea of what that sequence was going. Now, the reason why this is important, you can see the sloping down trending line from late in the morning or early in the morning to around 930, heading down towards the open. You can see the little higher highs. What I do is I measure those higher highs to see if they're repeating over and over again. That gives me an idea of what the usual swing is in the S&P. Here at 930 in the morning, we had a little one, then we had this big sharp move down, and then we stayed going lower into 1030. That sharp move down came in at 4662. If you want to have some fun, circle 4662, I can't do that because I can't change the size of the chart, sir. If you put circle 4662 on your S&P and see what happened after that, because that's when it really exploded. That's where the algorithmic traders come in. That's what I think is very important. On a human interest story, I've said many times before that I don't watch football at all. I watch a few games, but I haven't bet on a football game in at least 45 years. Yeah, it would be 46 years, 1975 when Lahren was 6 years old. She asked me to stop betting, and I did, and so I really wanted to do this college game because I listened to the chatter on the poker tables and everybody was saying how Alabama was going to win, Alabama was going to win, and everybody at the poker table was saying that Alabama was going to win and the point spreads and all this stuff, and I said to Sarah, I said, I've never bet on a game all these years, and she says, well, bet 100 bucks. She says, I'm going to change the style of living, so I called Lahren and I told her, dear, I want to bet 100 bucks, she says, you're 81 years old, you can do whatever you want to do, and she says, yeah, I know you stopped it, and I said, yeah, and so I bet $100 on the game, I bet on Georgia just because everybody was betting the other way, and when I got back, I didn't even stay to watch the game because it's too crowded and too noisy and I don't like football, so when I came back, I didn't even watch the game. I heard it on the radio that the score was 9 to 6 at halftime or something like that, and Alabama was hit, I didn't even watch it, and then at 11 o'clock when I got up to check the markets for Europe, I saw that Georgia had won the game, and I didn't even watch it, and it did prove to me that I didn't enjoy it very much, so that was my last bet, so anyway, that's neither here nor there. But back in the old days of Drexel Burnham, oh my gosh, with the coin dealers and stuff, oh dear, we realized that we were getting bets from the other coin dealers acting like bookies, and we made money, and not a lot of money, but we made money, but that's how we did it. We just took the action on the other side and never did any action. I think I've told the story of why I stopped the betting, it was a game between Oklahoma and Nebraska, and I had the game won, I had like 200 bucks on it, and they did a thing called the Missouri Flea Flicker with a quarterback throw, so the half back throws it back to the quarterback, quarterback throws it to the, it's all kinds of, with about six seconds to go, and Nebraska beats Oklahoma, and I lose the game, and I was screaming and yelling, and Laren said, dad, she says, I think you're going to have a heart attack, and I said, did your mother ask you to say this? She said, no dad, she said, I really think, she says, you say such bad words, she says, I've never heard such bad words before, she says, I think you're going to die. I love you. That was it, never betting in until last night, and she's told me, she still loved me this morning, so I'm done betting, that's it, on to the next one, but that's how it all got started, and that's how it ended, I didn't even watch the game, and that's it, hold on which is, yeah, I don't know if you guys have ever seen the movie, the gambler, the original one with James Kahn, oh my god, if you ever want to see a, whoo, that's something about behavior, boy, you want to watch that, James Kahn in the, what you call it, it's very, very important. Yes, you're right Tucker, I did end it on a positive note, and guess what, I am going to donate the money to a worthy cause, and worthy cause is running at the fifth at Aqueduct tomorrow, he's number five, so worthy cause will be on the docket for tomorrow, and if you believe that, I still have two shares of the Brooklyn bridge for you. All right, where's this market going to go, folks? We know that a major bottom's been put in yesterday by looking at the chart with all those beautiful patterns, repetition, everything you want to see, so how high is it going to go? That's what we have to look at, it could be a day and a half correction, like we're seeing now, it could be two days, it could be three days, but there's also the possibility that could make a new eye, I don't believe that's a possibility because of the way that these NASDAQ stocks and the FAANGs are acting folks, these are not good chart patterns that you're seeing, I mean, they really aren't, they're something dramatic has happened there, and if they can do it to the Big Daddy Rabbit, they can do it to all the rabbits, so make sure you remind yourself that you've got to realize that these markets are not just one way, they've been pretty much one way since March the fifth of 2009. Oh, by the way, thank you very much for the responses we got from the Shane Smollion program about stelliums yesterday, that was really interesting, I don't know a lot about it, you know, but it was very interesting to me to watch it and he's going to follow through and we'll be giving some more information out in the future, but I really thought it was spot on because I believe these markets are controlled by the planets, but to what extent I have no clue. The only clue I know is that when I'm ready to buy and when I'm ready to sell all I see is four little letters up there folks, R-I-S-K risk, and that's what I want to know, and that's the whole thing I can control, I can't control anything else, so that's the whole thing to remind ourselves of where we are, but that number we hit in the NASDAQ yesterday, I've shown you three different ways of looking at it that's extremely important there and there's no reason this market's been in a bull market for a long time, this is a normal correction just like we had in earlier December repeating it exactly. Now the other thing that you want to remember if you write this down, I'll put this up here so you'll be able to see it and remind ourselves that this is what we're looking at here if we go below that 45-50 now, after what's happened, that we've already taken out those highs, you don't want to have anything to do with that puppy because then the real problem is going to happen. See folks, you got a lot of people in these markets over the last 11 years and especially over the last year that have never traded before, they don't know where their market is. In fact, I've forgotten pretty much, but anyway, that's what you want to remind ourselves. We've seen these other stocks like Hood and all these others that have hit really, really badly and that can happen to all of them but it hasn't happened as of yet so that's what we're playing attention to here. Is the Russell is only trading at 2180? I thought it would be a lot higher than that. That means it's a joke about the worthy cause folks. Worthy cause was just a joke. Now I'm going to give it to the gospel mission here. All right, let's move on here to the Bitcoin because we've had a nice moved hold up at that 40,000 level in Bitcoin, but as we look at this chart here, here's one that is just extremely bearish unless we get about 53,000 then I have to say that this is wrong and we are not going to go down to 18,000 where I think we're headed to 20,000 to 18,000. Hey, we'll be right back, 877- 976648 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 8.30am to 4pm 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 the video online at TFNN.com or on TFNN's YouTube channel and become the investor you were born to be, TFNN Educating Investors 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 in your inbox every day. First time subscribers also get a chance to find out more about the opening call newsletter at TFNN.com 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 Are you looking for a secured investment which pays you on a monthly basis? 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For more information you can call 877-518-9190 that's 877-518-9190 Okay folks, I posted the chart of the NASDAQ as of last night and you'll notice here that we had made the 68% retracement for the high we made on December 4th. We also came down this morning we went down to a 382 retracement down there at $15,500-300 and now we have exploded to the upside and we're heading towards that 50% level. This has told us that we are now looking at a pretty significant correction here to the upside. So that's what we're seeing today and our job is to find out what is the next point that we want to be able to see if we'll be able to do that. Now as you can see behind me there is a picture of the nine spirits. These are the it's a Cherukawa Indian sculpture. It was given to me by one of the students here as a gift when I moved here 29 years ago it's actually very, very beautiful. I guess I don't know it's supposed to be quite valuable but the nine spirits are the basically the five good spirits and the four bad spirits that make to where you are in your life. It's a story about the Indian chief that talks to his grandson about what life is about, how you have to handle adversity and how you have to give back to the good people and be aware of bad people. All those things are in those nine spirits. I don't know what they are. I'm not religiously tied to this. It's just a pretty sculpture. It's quite beautiful. It's all hammered copper and right out of the copper mines in Bisbee, Arizona too. Do we have a question here? Oh, coming up on TFNN we got TD Ameritrade, Thinker Swim. We're going to have Dave White. We also have Steve Rhodes coming in. Tomorrow remember we always want to listen to Basil Chapman's show and of course Tom O'Brien at the very end and so we'll be able to be able to see if that's going to be what's going on here. So that's what we're seeing today. So live every day in an attitude of gratitude and may God bless and we'll see you on a higher opening tomorrow.