 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. So we're going to take a look at some of these markets. Starting out with the Treasury note chart. This is the weekly chart that we posted. Oh my goodness, every other day for the past three, four weeks. You can see we went right down into that 125 level in the notes. And boy, we have had a galley washer to the upside folks. They've really racked the old brains over there to see how they can get rid of the shorts. And they're certainly doing it. But I wanted to go through that in just a minute. I went through and looked at the open interest on these things. And the first one I looked at here was, of course, the Treasury bonds. Oh, I've got to blow this up just a second, folks. Otherwise, you're not going to be able to see it. And I want you to be able to see it easy enough. There we go. That'll be big enough. Here is the Treasury bond. You know, they have an open interest of about 1.1 million. Very, very small amount compared to the Treasury notes. The two years, the five years, and the 10 years. And the main one that I went to look for, of course, up here was the 10-year note because I want to explain the relationship between the 10 and the two-year because that's where the action is happening. You'll notice here in the Treasury notes, the 10-year notes, open interest dropped. It dropped in both of them, folks. That's a sign of short covering. Well, that could last a long time. And as you can see by what happened last night, I'll just give you a rough idea here. I'll pull up this chart here that I was following last night in the Treasury bonds because gee, Wiz, I thought I had a really gully washer in my favor here. Hold on one second here. I got to get it up here. And if I can only find it, I've got them all lined up just perfectly and just when I think I want it. And just when I think I want it, it sneaks away. Here it is last night, folks. Let me get this up here. You'll be able to see it here. This is where we were last night. You see the big gap up that we had yesterday? Yeah, yesterday. And now we have this big move up. We went right up to $159.01. I actually sold it at $01, folks. And boy was I a happy guy. I thought, gee, Wiz, this is going to be really a good one because what I was doing is I was watching it. Of course, when you're trading something like this, you've got to be really careful. So I just want to show you what happened. And it's a little embarrassing because I didn't make anything on that. Well, I made a very small amount. Anyway, look at this here on the four minute. You can see the $159 made it drop from $159 all the way to $1,500 all the way down A, B, C, D to $157.29. Now I was thinking this was going to be a really good gully washer to the downside. And so I lowered my stop quite a bit. I ended up making a little bit, you know, pocket change basically. But you can see that beautiful A, B, C, D pattern that was there. And now we've gone up and we've made new highs above that. So there's a lot of people that scared money folks. That's what bonds are. That's what happens during times when markets are doing this up and down. They go to quality is what they think is in the bond market. All you have to do is look at a bond chart and you can see that's anything but quality. So whenever this thing does turn down, it'll be a really nasty one, but no sign in sight with the fact that we've got the troops running through the streets of Ukraine and Kiev. And by the way, you should say if you're Ukrainian, you call it Ukrainian. You're not Ukrainian. Ukrainian, you call it Kiev. And if you are Russian, you call it Kiev. So that's a big, you have to know that. Tom Hougart and I were over there for four days for a foreign exchange seminar. Oh my gosh, five, six years ago, had a really great time. That's some wonderful people. And it's a great country except everybody smokes. Even the little three-year-olds, I think, but maybe that's not the case. Speaking of Tom Hougart folks, Tom sent me something, folks. He's giving a seminar, which I'm going to be attending in London on the first, second and third of April. And he put this out as the ultimate wingman. Folks, that would be probably the number two or number three thing on my bucket list to work with him each day because I've had the honor of working with him. And gee, it's really, to get inside his mindset is really quite spectacular. However, instead of paying $1,300 for something like that, it's going to be in April. We're going to be doing one in March here at TFNN, probably on March 16th or 17th. I'm working it out now with Tommy O'Brien to get it set up in the new platform that they're going to be using. So that'll be fun to look at. But that one will only cost about 20% of that. It'll only be like $2.95 for five hours of live trading. We've done these and they've done well in the past. We've made, I have four of them and all four of them have made money. But at this time, with the volatility we're having, we should have some really good rocket and rolling. Folks, last night where you were sleeping, something really important happened in the relationship to what we've been looking at. I wanted to show you the high last night in the E-mini S&P. The 61% retracement of the high that we made back on February the 12th came in at 4400. The high was 4, 3, 9, 9, and 3 quarters. It missed it by 1 quarter of a point. And of course, we backed all the way off to, I think, 33, 20 or something, whatever it was today earlier. But that did hit that 61% retracement. People have asked me to comment about the politics, folks. Don't know enough about it. The little poem that I gave you from Martin Armstrong yesterday, the atheist and little girl pretty much describes it. And that's basically the bottom line. I mean, I look at the charts, folks, and that's really all I'm looking at. I really don't do any more than that. I keep it as absolutely as simple as possible. By the way, our guest today is going to be popping in at the half hour, Jeff Hughes of Alpha Insights. He always has some great stuff, one of the best technicians and certainly one of the best Elliott technicians that I've had the privilege of knowing. So he'll be coming on at the half hour break. Now, let's switch over here for a moment here and let's just talk a little bit about Bitcoin because it was up 15% yesterday. And the news on that, of course, and you're going to hear more about this. You might even hear it in the presidential speech tonight. You can see the ABCD that's forming at the 382. That's at 47,000, folks. That's a perfect ABCD at 47,000. Now, we might get there. We're at 44 and change right now. And of course, this is two days old. We had a 15% move, but that is a beautiful ABCD and that is as perfect as it gets. So pay attention to that one. Now, the one thing that you're probably going to hear as they're going to the United States is going to ban Bitcoin and people that are doing business with the Russian. The problem is, folks, 16% of all the Bitcoins out there are owned by Russian people. Not just, I'm not talking about the oligarchs and stuff. I'm just a regular, and they have a lot of, you know, people that produce it over there because the weather's nice and cool and they got lots of energy. The problem is all of the Russian stuff is held on the site called Binance. The Binance site for cryptocurrencies is larger than Chicago mercantile and Chicago border trade combined. That's how big that site is. So they're not going to have anything to do with that. If they ban the Russians, that's not going to affect Binance because that's not in the United States. You know, the other ones that you're cracking and Coinbase and all those are here, that'll be affected, of course, but not the others worldwide. At least when you see these sanctions, they just don't work very well. Let's get right back when we come back for our next break here, 877-927-6648. We got to talk about the grains, too. We'll be right back, folks. 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, 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. 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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. 8. Internationally at 727-873-7618 Okay, folks, before we get to the wheat, I posted a chart of the yield curve, the 10-year versus the 2-year, as you can see here, the 10-year is getting massacred versus the 2-year. That little red arrow there is where it all started, that was the 3-8-2 retracement in that yield, and boom, we're almost down to zero, folks, and we get there, that's recession. So we're not very far from that level and the way it's dropping doesn't seem like anyone wants to catch this falling safe. Hold on here, I think we've got someone calling in today. Let's just double check here. We've got Mr. Z on the line. John, how are you doing today? Thanks for taking the call. Thank you, John. What can I do for you, buddy? Larry, I'm monitoring financial stocks. I noticed JPMorgan stock is really selling off hard, breaking swing lows, clearly a bearish pattern, lower highs, lower lows. We've got financial stress here with the Ukraine mass. Are you picking up anything? Does this portend anything in particular for the S&P and the E-mini futures in your judgment? Well, as you know, I have a negative bias towards that and it does look like once we go below that 4,200, the next stop will be 3,800 and then possibly lower than that. But that yield curve is telling you that rates are... They're not going to be able to raise rates this time, John, because the economy is in such bad shape just by interest rates. I know they're having this big rally going on right now, but when that rally is over, there's going to be a vacuum under that market because buying bonds for insurance policies like taking gasoline to a fire hoping you can pull it out. Any particular thoughts, comments on the selling in JPMorgan stock? No, I don't know anything about that. John, I'm actually the last person. They'll call you before they call me on what's going on there, but that's telling you that somebody knows something and especially when you have not much of a down break and when the market started higher actually and then that started lower, somebody knows something. They're liquidating. They either have an exposure, possibly in one of the futures like a Silver SLV or something like that. That could be it. I don't know. I'm just surmising it might be something like that because it is substantial. I concur on that. Of course, I don't know. I'm not going to get the call, but with the price pressure, the lack of buying and the aggressive selling in the JPMorgan equity itself, that tells you there's some big players who've said, God, something's going on and it just ain't good. Some key players might have moved accounts around and they might have made some trading mistakes too. They might have lost $3 or $4 billion in a trading mistake given the stuff that's going on here and the way that news changes every 30 seconds, anytime they hear a tank moving in Ukraine, things will move 20 or 30 handles in the S&P without any trouble anymore. That could be it, but we'll know the answer down the road here about a month or two, but just watch the price action and that'll tell you whether you're going to be able to withstand all this selling, but this is substantial. A little bit lower here in the Dow, down about another 500, 600 points, we're going to be looking at blue sky below and that's going to be probably pretty significant. We need to watch that level at 3300 in the Dow Jones Industrial Average. We're trading about a couple hundred points right now, but that can evaporate very quickly. Larry, thanks so much on that. I'm just going to ask a favor of you. This is kind of a favor to be active the next days or so. Of course, it's wheat. Of all the agriculture commodities, the wheat market that is pacing the rally and we've gone limit up on... I'm looking at the Kansas City wheat. I can't tell you what the Chicago wheat's doing, but I'd be much obliged if you would be daily showing the daily charts or weekly charts as you see it to identify potential rally completion targets so that we can be prepared for an inevitable spike high in reversal. Of course, I don't know where it's going to come. I'm sure I won't catch it, but I'd be much obliged to see what you're thinking and what you're seeing in your chart work. So thanks again, Larry. We'll look forward to hearing Jeff huge. Okay. Mr. Z, I posted the chart for May wheat. You can see it's limit up at 984. It's above the 61.618 expansion. It would have to come off at limit for me to even begin to think of whether I wanted to sell it or not. It's been locked there for quite some time. I'll cover the beans when we come back for the break. There's some more time after Jeff is on today, but I believe we have Matthew on the line right now. Matthew, are you there? Yes, I'm here. How are you doing? I'm very good. What can I do for you? Well, first I want to say thank you for all the help and everything, for doing what you do. But my question is, as far as intraday trading, when it comes to these ABCD patterns and the harmonic patterns and everything, are you entering right at the completion of these patterns? I sure am. Point D. I'm looking at point D where AB equals CD. That's right out of Benoit Mandelbrot. And that's what I'm looking at. Now, the only time I don't do that, and I talked about this with Jeff yesterday from Philly and as if there's a gap, well, there's a gap in the gold chart, but it doesn't affect the order that I have working in gold today because that gap happened three or four days ago and that gap has been filled. So as long as there's not an open gap out there, I'm going to do it. And also, if the ranges are really wide, like a 30 or $40 range in gold would be very wide for me, then I will not do that trade at point D. Other than that, I'm going to do it all day long because I know the odds are in my favor of winning. Okay. Thank you, man. I really appreciate it. Well, thank you for the kind words. I appreciate it. Yes, sir. Thank you. Okay. We're going to have Jeff Hughes coming up at our break here in a couple of minutes. I wanted to cover a couple others of these that we're watching here this morning. I wanted to show you the bean market. Now, here's a perfect example of one of the things that you want to do. Now, we have corn up substantially, wheat up the limit, but look at beans. Beans were only setting at the 61% retracement there at $1692. So it was totally apparent here that we have a beautiful 61% retracement. It's weaker than wheat. It's weaker than corn. And you know what your risk is, and it's not trading anywhere near the limit up. So that was the one to sell. And what happened? It dropped $0.25. Now, it's come back pretty good. It's only down a nickel from where I think it's trading at $0.1685 now. But at one time, it was down $0.25. So that's a perfect example. If you always want to sell the weakest and buy the strongest, those are the ones that you want to do. Let me give you an example of that. And we talked about it just a few minutes ago. If you want to buy the strongest, look what happened here in the Treasury bonds. You have a beautiful ABCD there in Treasury bonds down there. $157.20 low. And the low was $157.18. And it rallies $1,500 with virtually no heat at all. So you want to buy the strongest, sell the weakest. That's what they say in the book by Jesse Livermore, Reminiscent's What We Should Do. What we do and what we say sometimes, it can be totally different. But that's what you're supposed to do. And in the heat of battle, sometimes it's really hard to tell the two apart. But the best thing is, these patterns help you control risk and that's the main thing. Now, let's take a quick look here at the corn. We'll cover some more of this after we've heard from Jeff. We'll be right back with Jeff Huge, folks. Alpha Insights. 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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The Art of Timing the Trade Charts is designed to help you when scouring the markets for stocks just beginning to form the trading patterns that many investors spend days, weeks, or even months searching to find. And right now we're offering licenses available at only $79 a month. We are so confident that you're going to love this new charting software that will even give you a 30-day unconditional money-back guarantee. Don't miss out on this incredible new piece of software. The Art of Timing the Trade Charts today by visiting tfnn.com This segment is brought to you by Think or Swim. For more information, just click the Think or Swim banner on the front page of tfnn.com Okay, folks, we're back and we have Jeff Hughes of Alpha Insights on the line today. He was kind enough to join us during this busy time of the day. Jeff, I have a couple of questions from our listeners and one of the things we have a really great affinity for here is risk control. And we really like your 80-20 risk parameters that you're looking at. Could you tell the folks what that means and how you handle that? Sure, Larry. And first, let me thank you for having me on the show. You know, what we really like to do is take a look at risk relative to other assets. And the best way to do that, in our view, is to look at stocks versus bonds. We use a fairly large universe of stocks, the S&P 1500, which encompasses all market caps, large mid and small caps. And we compare it to corporate bonds rather than treasuries because with treasuries we really don't have it's a pure manipulated market by the feds. We don't have a market that's got price discovery in it to the same extent as we do in the corporate bond market. So we've become very comfortable with this ratio. It's been backtested 30 years before we went to a live use back in 2003. And so for around the last 18 years or so we've been using this model to get it in and out of the stock market on a timely basis. And what's interesting is that it made a new all time high on February 28. We use month-end data. And that tells us that the risks are really skewed towards the bond market at this point, not the stock market. And that in fact, U.S. equity markets might prove to be a safe haven as global capital seeks more liquid markets with greater confidence. And so the U.S. equity markets by default might absorb a lot of capital that's coming out of other markets, for example, Russia. And so, you know, by default, you know, the best market might prove to be a relative safe haven. Well, when you see a straight-up move from 52 to 159 in bonds in just two days, you know that somebody's absolutely scared to death. You don't see that very often. That's really big money and not only that, I noticed the open interest was dropping, so that's short-carving. So you're correct. When that's over, there will be a big vacuum out there and we'll see what happens. Now, we have another question from one of our listeners in Hawaii, believe it or not, and he's asking a question. The last time you were on you talked about your Elliott Wave accounts. And so, could you give the folks here? I put your chart up of the Elliott Wave analysis that you had your preferred count and then also your alternative count. Do you want to tell the folks what you're looking at right now in the markets? Sure, of course. So, it was interesting because we were out in the morning on the 24th, which was the day that the S&P put in its most recent low. And in the morning it looked like a complete washout collapsed. And by midday we saw some stabilization toward the early afternoon. We saw massive capital coming into the market and we ended up closing up on the day and recovering completely from that washout low. And so, the follow-through the next day was also interesting because it brought us right back into kind of that neutral range that we had been seeking. It closed above the 42 78 level, which is what we've kind of drawn the line in the sand and said, if we have a sustained break of 42 78 on the S&P 500 then that would confirm a new bear market. We just haven't seen that. And so, the way I'm looking at things right now is that the preferred count has to call in that most recent low, the February 24th low, at the end of a fourth wave correction. And we've outlined this in kind of gory detail and you can find it on my Twitter feed exactly how we get there at the five minute interval on the chart. And so, we've basically marked every single wave and concluded that we put in a double irregular flat corrective waveform to mark wave 4 of intermediate wave 5, or I should say primary wave 5. And so, now we are embarking upon intermediate wave 5 of primary wave 5 of cycle wave 5 and probably super one cycle wave 3. And the question is how far can it go at this point? And based on our work, we believe a breakout to new all-time highs would confirm it and that would project the target to around 5,500 on the S&P 500. Conversely, a sustained break below that 42 78 level would bring our alternate count to the 4. And that would suggest that the lows on February 21st were actually wave 1 of wave A of large wave A of countertrend wave 4 to the downside. And that's going to be a fairly deep correction when it eventually completes probably years from now. And it should take us down to a minimum of 22 100 on the S&P 500 when it finally terminates and possibly much lower. So, at this point, we would say the next potential downside target would be about 3,800 on the S&P 500 but only if we get a sustained break of 42 78 and that means a weekly close below that level. Okay, that makes good sense. Now, you have another chart up here when you're talking about the cyclicals. The fact that they're looking actually pretty strong compared to other parts of the market. Now, can you tell the folks how you define that and how you use it? Which chart, Paige, are you looking at? This was a large cap. Your large cap index is still very bullish. And that's the one that was on page number 10. Page 10. Yeah, yeah. So, page 10 is really just looking at the S&P 500 from and we're using a 13-year, a Fibonacci 13-year monthly chart and what we have is a very strong structural trend marking the 2009 low and the 2020 low and then we're using a 13-month or 55-week simple moving average in red to kind of define the primary trend and we're using an 8-month exponential moving average to give us a signal. And if the 8-month were to cross below the 13-month and hold on a closing basis that would signal a trend change and would probably move us to the bearish side of the market. What we're looking at right now is a break or actually a close above that 13-month simple moving average and chart support, which again we've marked as 42.78 which is the monthly close that we saw back in October. So, we were to close below those October lows in any sort of sustained way and we were to get a breakdown confirmed by a signal of the 8 crossing below the 13-month moving averages. That would move us quickly to a neutral position in large cap equities and probably contemplating a downgrade to bearish and our opinions are really neutral means we're out of the market. Bearish would mean that we're considering shorting it and it's just not time to short this market in our opinion. Now, we have seen a down-tick in momentum. Momentum is turned negative and that's concerning there's a big negative divergence up there and relative strength of large caps actually ticked down last month versus small and midcaps and so the thing that's interesting about that condition is that small and midcaps are catching a bid. They both closed positively last month and so the big knock on the market is that there's been a big breath, a negative breath divergence, right? Small and midcaps haven't been participating but we're seeing money roll back into small and midcaps at this point and that suggests that the selling may have reached the climax. Hey Jeff, thanks for joining us my friend. I'll post your details as folks can reach you on your Twitter and your email but thanks for joining us buddy. We really appreciate it. Great analysis by the way. How would it be a pleasure. Thank you. Jeff huge Alpha Insights folks. We'll be right back. 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That's TFNN.com and hit Watch Tiger TV. Okay, we're back folks and I believe we have Peter from Park City Utah on the line. Pedro, how are you doing, buddy? Hey, I'm doing great. How are you? I'm still living the dream on the green grass. What can I do for you? I just wanted your thoughts. So if I go back in history and I look at the long-term capital management collapse of 98 if I remember correctly it was stemmed from a currency crisis that occurred in the rubble that set off the basically the downturn in the subsequent bailout of it and I just want your thoughts on with the rubble moving like it has is there something systemically going to happen in some of these funds that are over leveraged to emerging markets the world or US or whatever decide to take Russia out of say the emerging markets ETFs. I'm just throwing it out there because could something actually be underlining a true crisis? Well, we usually know after the fact but here you're right there's so many things out there that we've talked about here at TF&N over the past months the GDP 130% of normal we've never seen this many IPOs and all the money that's flown in equals everything that's happened over the last 10 years all that stuff is out there but regarding long-term capital management you remember they had those Nobel Prize economists there but they failed to factor in liquidity it wasn't the Russian rubble that caused the problem it was a lack of liquidity they couldn't move their positions and then when the market started to tighten up and volatility increased then they couldn't get out and that's what caused the demise of it and of course the Fed had to come in through the Gulf of Mr. Greenspan and his buddies and they bailed John Mary whether out and what was really ironic about that the following year guess what people gave him another $3 billion to start another fund and the same thing happened with that one too so you just got to be careful because it's not how much money you make it's how much money you don't lose and they were they just got lopsided they just literally couldn't get out of their positions and they couldn't and none of them but they couldn't hedge them because there was no way to take the other side of the market from what I understood now okay so I'm glad you clarified it was not technically the rubble so here's the question then are there people stuck in the exact same position currently that can't get out and you know are on the wrong side you know of whether it's currency etc. Yes they are Peter but the problem is if I told you buddy I'd have to kill you Jeff Peter I you you might be the second to the last person that they call I'm the last person that they call you give me any inside information all I do is I try to watch you know what's happening with prices like we're seeing this monster moving bonds and starting maybe in stocks today I don't know but you know that's all I'm looking at I keep it as simple as possible I don't get it you know I've been doing this 60 years Peter I think I've gotten to inside call inside information things that actually worked one worked for about a dollar and a half the other one broke even so I never get inside in for information I run away from that like the plague because I've never seen one that actually worked but you're correct there's something out there I mean we don't know whether it is it could be anything that maybe be total surprise it might even be the Fed has made a bad mistake and they're trapped into something you know that's also possible because they put all this money into helicopter and stuff and if they turn around and they say okay how are we going to get out of this and uh-oh that could be it I don't know you know that's why I'm asking you of course yeah well like I said Peter I'll have to ask you because I don't know if I don't I think it's out there but I don't know what it is I really don't all righty hey I appreciate it I just say it was fun talking to you and just well I'm glad to hear from you but I appreciate talking to you I love Park City up there and I uh I think it's a really great place to live and I know you're living a dream so call him and get a chance okay absolutely we'll do it thanks Larry okay well Peter from Park City poses some great ideas there folks the problem is uh you don't know until you know and then by then everybody else knows either all I do is I look at the charts and I see things and I say okay if I buy here I know I'm going to be able to risk this much if I sell here I know I can only risk that much and that's what I try to do nothing more nothing less the ABCD it works does it work all the time no but it works two out of three times but the good part of it is it tells you when you're wrong and the second good part is when you're right it's going to pay you three to one or more sometimes even a lot more than that so those are the main things that I focus on as I'm looking at these uh these charts and we're having some you know some pretty good moves here well we got the Dow down well over six seven hundred points now and the S&Ps looks like I just saw from the TVs down there around 4,300 remember we're a long way from that loa down there folks that was around 4,220 back on the 24th so that we're not too far away from it so that's a real interesting to look at so we'll be able to see this we'll see what's going on by the way tomorrow we're going to have Shane Smolian as our guest he's got some really you know he's been very bearish and he's been very right so being very bearish and very right we'd like to have him on to get his idea of what he's looking at right now in these markets because he's had these pretty much spot on and I think it's important that we have him on to you know to get him to get his opinion because he's certainly been pretty much spot on okay now we've covered the grains and we've covered the crude oil by the way I just was informed that the crude oil hit $1.60 $1.60 that'd be a little high $1.60 so we haven't been this high since 2014 where only see the old high was $1.44 back in when Goldman Sachs was looking for $200 crude oil back in 07 and it went from $1.44 down to $30 in just a little more than a year and a half so remember it's not how much money you make it's not how much money you don't lose and that's what our goal here is to pretend that we actually know a little bit more than we do but we do know one thing and that is risk control and that's what we're doing here at TFNN is monitoring the risk it's how much money you don't lose not how much money you make as you're going to stumble into some good winners folks you know we've been we talked about that $3.8 excuse me the 61% retracement is actually happening I happen to be right around 7.38 o'clock 9.30 New York time and I posted it up there and said oh he just hit the 61% retracement there and folks we hit $43.99 and a quarter and it dropped 20 points faster than Hector could move that dog out of the pen and boy that dog moves pretty fast and it just kept dropping there are 100 handles lower folks in just a matter of a few hours so that's a big thing the other thing is the I don't know if the Russian stock market has opened or not I doubt whether it did or not because it was it's in pretty precarious situation because the currency is going crazy now remember Peter mentioned that the Russia is an emerging market but I frankly don't know anyone that trades the Russian ruble you know it's dropped 110% versus the US dollar in just these last few days now if you're on the right side of that that's pretty good I've never traded the ruble nor do any of my friends that I know have traded the ruble I'm sure you know there are people that do hey we'll be right back 877-927-6648 sharpening your skills as an investor is like getting better at playing a musical instrument you have to practice 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probably will be going it'll be going up a little higher yet so that's mainly what we're watching the Treasury Soybeans have not made new highs in this run but they've brought back they dropped 25 cents and they've taken most of that back so they're up near the highs again and I understand the stock markets down about 600 points in the Dow and the S&P's broken below came very close to that 300 move to the downside I remember folks tomorrow we're going to have Shane Smollion as our guest always entertaining and he's certainly been spot on the market will have him with some interesting questions and that'll always be a good show Thursday I'm hoping to have Mr. Tim Boss Financial Cycles Weekly and I've been trying to get Joe DiNapoleon for Fridays in a row this is my last chance to get him on otherwise I'm going to have to say Joe you're going to have to stick with Jimmy Fallon because we're just not going to be able to get you on top here now I wanted to talk to you just a tiny bit here about the natural gas because you know there's a lot of stuff going on talking about natural gas in Europe it sells for three or four times what we sell for it here and believe me folks most of that natural gas comes out of Russia and if Mr. Putin you know goes to sanctions and turns off the gas spigots in France it's not France but in Germany and the Baltic sea and Baltic states that's not going to be good you don't need that kind of stuff hopefully we're going to get through this all right it's not going to be easy and it's probably going to be long and drawn out they don't have all those trucks in there and all those men in there to pass out sandwiches we know that for a fact so the main thing is we got to keep our eye on these treasury bonds and treasury bonds because when this market turns it's going to go down in a new low ground very very quickly because the feds between a rock and a hard place and that might be the unknown that Peter from Park City was talking about live every day in an attitude of gratitude and may God bless and we'll see it with Shane Smollin as our guest tomorrow Sayonara folks