 The following is a presentation of TFNN, the power trading hour with your host David White. Call now toll free at 1-877-927-6648 or internationally at 727-873-7618. Now David White. And welcome all to another excellent edition of the power trading hour. And it doesn't matter where you're at as long as we're here at this time. The following takes place between 2 p.m. and 3 p.m. So we've got S&Ps off 13, Dow's up 78 after being down, Nasdaq's still down a little over 1.1%. Russell's off about 1.5, 1.6% crude oils down a buck. Let's move that over there so I can see some stuff. We looked at the gold, it's down 7.5 bucks, so we're off 38 cents. 10-year bond has down 2.7 cents. So we'll look at the TLT because that's what I like. Anyway, it's just up slowly but on a Thursday, this thing should be rocking the CASBA as cash naturally comes in. From the Fed on these days and that it's just treading water, probably not a good sign for the rest of the markets. But we continue to watch closely, see what happens here. But hey, it's going to be one of those days. I do think that the market is going to find a trend. That trend is not going to run or gallop but probably walk between now and Christmas. But we shall see. Anyway, looking at things like, I wanted to look at the dollar here. Hang on a second. Oh, that's a 4x. Come on. Okay. 96.22 on the dollar index. The basket of the sixth biggest Western democracies. And that's kind of it. I did want to get a look at the volume today. So let's do that and see how we caught up. Again, volume has been kind of tapering off as we get back up there. This is what? The third time, eighth time, hard to tell. But we've been up to highs and volume has not really been enough to blow through the highs at least in my opinion. When we talked yesterday, some of it was the questionable movement in a lot of the ETFs, especially when we looked in the context of the American stock exchange where most of these ETFs reside, at least the older ones that have more volume. You're down a little bit. You could actually have more volume by the end of the day than you had yesterday. We did try to go and run a little higher than yesterday in the queues, gave that all up and more. When we look at some of the others that actually should be doing well, you got a little bit of dark cloud cover. You don't have the volume quite yet in AMD. But this is why generally the folks that do Wycoff style trading, I heard it from Tim Ord very early, but I heard it from others too. And that is a low is not a low. So it's been retested on lighter volume. 66, 67 million shares on advanced micro at 134.20. Could we get there? Well, we're closing under 140. There is a look for whatever reason to do some sector rotation. The company's not a real problem. The question is whether or not you get China to get froggy, get some other things going on, maybe some world events. Maybe a lot of people are willing to ring the register after this thing came up off of two bucks. 877-927-6648. You can email me at path at tfnn.com and I think someone has done that. Everybody looks like they're running to the Apple chain locker at the bow of the ship. Well, you're mixing your metaphors because everybody ran to the stern of the Titanic when it was going down. And of course it's my job to mix metaphors here. What are we, about seven, eight days away from the TFNN awards party. I guess it's going to be once again held out at the, and what is it, the sand pebble out there on the beach. Another wonderful, I'll be able to pick up three or four of my awards that I get every year for the show. Of course, mixed metaphors is always the one I look up to the most along with the digression award. Anyway, Apple at the bow of the ship. Well, I'm thinking everybody's gone to the stern of the ship, more Titanic-esque. And, well, we can see. I'm going to take a quick look at Apple. Not as much volume you had. It's kind of interesting that they had some fairly bad news and still rallied. But yeah, if you want to keep up the S&P while you're selling everything else, if you want to make the market look good, all you got to do is buy a few more shares of Apple. It's about 90% owned by the street. So it's not like these guys can do a whole lot like sell it. There's always one stock like that that they just keep piling on. And everybody wonders when the first person to think that it's time to leave the Cinderella ball is. But of course, as Warren Buffett said, everybody's at the Cinderella ball thinking they're all going to leave at midnight. But guess what? They're in a room with a clock with no hands. And that's always the way it is. You never know when those things are going to happen. But tons of bad news for Apple doesn't seem to bother it much of any bit. But that's kind of like a lot of the companies out here. The old saying used to be in the 70s and 80s was no one ever fired you for buying more IBM. And certainly that is the way of Apple. Coming back on Nvidia, the big leaders in the SMHs, that low at 280, you certainly need to get back into that candle. You had 66 million shares. You're down on 28 million today. So again, I'm not expecting to give it up, but I am expecting kind of a reversal in the S&P equitable with what we've seen in the NASDAQ and the Russell. I suspect that you're just holding that one up for a lot of the stocks that they're in. But eventually the bow will break. The cradle will fall. And again, I'm in to some more mixed metaphors. And digression. I'm piling on here, just getting close to the awards ceremony. Other things going on in the market. Question about the TLT from Nancy. Oh, I missed one on AMD. I need to get back to this question on a double repo on advanced micro. You'd want to go back above for a day or so and then close. But this kind of just fooling with that level is probably not enough. What you need is real good up to us. Much in a day or two. Not yet. Deep understanding of technology and the markets allows him to consistently find and share winning trades. Support and resistance define the ranges in which stocks trade. By understanding these trading ranges, David White is able to find a path of least resistance. David White's trading newsletter, The Path of Least Resistance, is delivered daily before the markets open to make every trading day an easy win. Visit tfnn.com today and subscribe to David White's ultimate trading newsletter for $119 a month and try all of our newsletters risk-free with our 30-day money-back guarantee. Take the path of least resistance at TFNN Educating Investors. 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You have to practice, sure, but 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 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 8 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. As we return, the S&P is kind of stuck at 13 lower. That's a negative one. Three. I can't even remember my CB talk anymore. Big something, I did. Well, who knows. Anyway, yesterday, we had, let me see, I deleted it. We had, I thought it was Zach from that ring, maybe right, maybe wrong. I asked about restoration hardware. I didn't think much about it because going into earnings more of a gamble than a prudent speculation got to 658.51, so a nice spike higher, back down in giving about half of that back at 618.68 for the last tick. But caught a few people napping out there, maybe some shorts, but it's a tough day to belong anything. Just imagine what some of these stocks would look like if they did report poorly. But I do digress. I'm adding on today. Some more questions about 3D printers from my rant yesterday, SSYS, and it coming back. I just would like to see it, I think this is from Ron, come back and retest this little doji at 2338. That's December 6th, a day before the day that will live in infamy. But now I think you need to get back and retest it. Again, if you missed my rant yesterday about some of the cool stuff happening in the sector, the downside right now is that they are, I'd say 95% reliant on the supply chain through China for a lot of the motors that move stuff. So do keep an eye on that. Okay, 877-927-6648. I'm looking for your phone call today as this S&P's kind of stuck. Last 30 minutes will probably be the tail of the tape. Erin calls in, calls in emails in about, what is it, Microsoft? He's got three days going sideways here. He gapped up and that's about it. I don't see anything real changey here on that. What can you say? We do have earnings coming up and I did want to get into that. So let's get into it. And this is tomorrow morning, by the way, not really anything happening tonight that I think can move the markets. Excuse me, after the bell, excuse me tonight. I am confused. I hope I didn't confuse you too badly. After the bell tonight, excuse me, I was looking at that as before tomorrow, is Chewys. They report at four o'clock tonight. These have broken down. Very interesting to see this stock not doing well. I see their boxes on the front porch everywhere around the areas that people are ordering stuff from. I'm not exactly sure what the problem is with these folks, but they are down before earnings. I think a lot of people didn't go to the store to buy dog food during the lockdown. Maybe that's waning, but certainly it seems like a company where a lot of people are still buying their stuff from. I don't know exactly what. Maybe someone's inventory problems. Other companies out here, of course, if you've been doing your Pilates lately, you need to have your Lululemon also headed lower. Going into earnings, not really doing a whole lot here. 413.06 is the December 6th low, a day before the day that lives in infamy. Today got to 420.24 so far, 1.3 million shares compared to 1.4. Not looking good or not an encouraging sign into earnings, but I don't put a great deal into that. Also tonight, we've got Costco and kind of a big dark cloud cover for the two previous days. You've got a doji today on about half the volume so far. I don't think you could make a lot out of it. This thing doesn't tend to surprise. Of course, all these stocks that don't surprise are always that way until they do surprise. I don't see anything in it, but I don't see any reason to play it either. Oracle, we've talked about this one for a long time. I continue to wonder who they're selling stuff to. I'm sure they are, but this is kind of like Roku where it's just I don't understand and it's not like I'm shorting the thing. It's just literally I don't understand. Of course, Roku, I finally understood one day when everybody said it, but it does seem ludicrous to me. Of course, they had a nice deal yesterday with YouTube and Google about getting cut off from being on the site. The article, I mean the argument, which is probably going to haunt the folks at Google and YouTube in court for the next five to 10 years is some action that really smacks of antitrust and that was that they weren't going to let Roku go through if they continued to collect data. Of course, not a whole lot of reason for Roku to have channels if they can't monetize it at least in some way, but apparently they made a deal. Who knows what that deal is yet? I would not have been able to find out. That's why they gapped higher on volume yesterday, given back about half that pop higher today, but again, not a lot of volume. Wayne goes, thoughts on Tesla? Let's move down to 59. There is a lot of talk and I don't know how much fruit it will bear. There's another metaphor. How well I mix it as apple sauce. Anyway, Tesla back lower. What am I thinking here? The talk is that there's a bunch of lawsuits and a lot of people have already settled about the solar city acquisition and that why Tesla certainly has the cash now. They may have had a lot of and we all thought it at the time it couldn't prove anything. They may have done a lot of naughty business out there to make everything work out. The solar tiles from solar city that they bought. Apparently burned a lot of houses down. There's some other stuff, but there was a bunch of stuff in that thing that just never made sense, but apparently those lawsuits are now bubbling up after all these years. We'll be back in a minute. with these sharpest minds in the trading world. You could be making money off the stock market. And if you're already making money off the stock market, you could be making a lot more. Check out TFNN and Tiger TV and get expert investing advice to give you the power to control your financial future. Go to TFNN.com and find the newsletter for you. 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I don't think anybody wants to talk about Windows 2.0 coming out this day in 1987. It was unusable then. It's unusable now. That's all our history repeating. Anyway, other things going on in the market. As I said, volume not exciting yet. I do think from looking at the options yesterday, as I said, they didn't look good. Just kind of interesting that they are holding up this market with the S&P's, but the rest have already broken, except the Dow. But that's 30 stocks, and that's 96% institutionally owned. You can only buy 4% of all the outstanding shares in a Dow stock. Did you know that? That is probably the most useless index ever created. It's literally a cartel owning all of it, setting the prices for most of those stocks. But I do digress. Polar on Tesla. He's expected to climb his underway to close that 9.5910 gap, and decisively under that, the 900i. There's a lot of stuff that looks to me like, especially at SpaceX, where he's maybe getting a lot of the cash coming out of Tesla to put it in SpaceX. There was a pretty good article out a couple of days ago about how he did that with Solar City, and that he's probably going to try the same thing. But the cost of the downlinks, the home satellite dishes for his Starlink system is costing him twice what he's selling them for. They buy them for 500 bucks. There is an article out there that says that at some point, they think that the things cost him 1,000 bucks. And at whatever the subscription rate is, 100 bucks a month or whatever, for the early adopters. There's no way that he can put his first goal is 4,500 satellites in orbit, but he wants to put 45,000 satellites in orbit. And each one of those with a defect rate of about 3% comes out to 250,000 pence. Anyway, someone sat there with a spreadsheet down the math and figured out that they're probably in a good way unless he raids the piggy bank of Tesla with bonds to fund the expansion of SpaceX. So just keep an eye on this. Tesla did go down fairly significantly. I think the people on the street knew back when some of that stuff was happening. He got lucky and got into China and sold some cars, although I don't think he makes near the money that he says he does. I think that the reality is going to be margins much lower, especially over the next year now that Ford's F-150 is out, a few other cars out, some alternatives to buying a Tesla. You're actually talking about the Kia kind of coming along now, the version 2.0 of that as an electric car at half the price of a Tesla. Even Tesla's, you can't buy the cheap model. It's kind of one of those things where they've made it in there, but there's no money in it for him and he needs money. So you can't buy a cheap $50,000, $60,000 Tesla, but you can buy a $40,000 Kia. It may not have the range and all the good karma that Tesla has, but certainly I think they work okay. Could Starlink go IPO? Well, Starlink owned by, of course, by SpaceX. I think SpaceX would be more likely to IPO, but at this point can they show their books? I think that's what a lot of people are saying is that SpaceX probably would have gone public this year if they could show their books. So if you're talking $250,000 per satellite, 4,500 satellites, losing 500 bucks or more on every downlink system, when you go IPO, you kind of have to push that stuff off. So there's been a reason that everybody's used these SPACs and that is that you can hide all this stuff and no one gets to answer any questions or ask any questions. So yeah, I think that there's some problems out there in the wood pile. Another mixed metaphor. I'm racing to the finish this year again. 877-927-6648. Yeah, I think Tesla's got problems. The question is whether or not the holders of the shares continue to just look the other way. Whistle past the graveyard. Throw some salt over the shoulder. I'm on a roll today. Okay, so we got that. 2, 2, 2. You don't get to digress, John. That is my job. That's why they pay me the big bucks. Okay, other things going on out here. Looked at everything. Oh, question about workday. I said when this company came out, I liked the management in this and it's not like I like management in many companies or even talk about it. I think the only guy I've probably talked nice about has been the CEO of Microsoft. He's been a breath of fresh air to that company. Generally, the CEOs just, they can be a real drag, but generally they don't do a lot. These guys, of course, are the old PeopleSoft folks and they've done well. Again, one of the things that has driven this was, of course, IPO, I mean, Fauci virus lockdowns. So, yeah, no volume, another push higher today. I'm thinking a lot of these do have a lot of room to pull back. I don't think I'd want to be long this thing today. I'd have to see a retest of that 258.22, so there's not much going on that. Question looking at DDD. Where is support on this? Again, I think we talked about that yesterday. Can't remember. You're pretty much at it, which is the only, well, let me put it that way. You went down close to it, $20.47 from this gap higher with 15 million shares. That's back on May 12th. You got into it. Like I said, pretty good support. 60 million shares, May 11th. You had two million shares on December 6th. You've already rallied. I like this thing to come back down to like 2150 or something, maybe at the beginning of the year, but actually pretty strong other than the fact this thing sold off hard, which makes me think kind of decidedly for the long, but a nice test for the low. 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The news has not been kind to Boeing down to 188. We're seeing some pretty astronomically good news about the latest version variant of the Fauci virus. And I don't know what you can say about that. The bad news from Boeing or for Boeing is that I think they gave away another year or two years away to SpaceX because they don't have their capsule ready. So I know that SpaceX got another big contract for that. So they continue to have problems executing, getting stuff out the door. But I think supply problems, that stuff, that sourts itself out. And the stock market probably looking past some of the short-term stuff on it. But I think the market's figured that this thing's worth about 200 bucks, maybe a little bit more on a bad day. And as long as things continue to get better, and actually there is some fairly good news on that front, don't want to get kicked off YouTube, though. So you know what? I think it's, you know, if you're long this thing at around 200 bucks, you can hold it. But I think you probably have another couple of months of consolidation in a lot of these stocks. And of course, this thing's open back. Probably good for Boeing. Probably more tough for the market is if the Fed is truly telling the truth and Mr. Powell, he's going to start ratcheting up interest rates. That's probably good for Boeing, but probably a negative for the market. And this thing trades with the market a whole lot. So you kind of have to look at it as a watch. Like I said, I think probably holds up better than some, but if we're headed lower, and I think we are through the 17th, continues to be a problematic issue. Down 18 on the S&P cash, up 51 on the Nasdaq, down 190, wrestles off 37 or 1.65% as we continue. Okay, we got some more emails here. So what do we have? NTLA, they have here on the theme of what's what's happening in the world of what's happening now. Virgin Galactic, I said back when this thing was going up to 57, it was a giant scam. There was no way that this thing could ever make the kind of money that they said it could. SpaceX really cleaning up that market, whether they're making money or not, they're destroying the competition. Didn't think that there was going to be a lot. Kind of going close to space is not a good thing. And of course, actually sending people to space and orbiting a whole different story. I thought it was kind of weak and the obvious overtones of propaganda of that just tough to swallow. But you're below the previous low. I don't think that there's a lot of chance for these also run space companies. So now don't think there's a lot there. Maybe they'll come out with something. I think they had a business that makes this thing worth about 10 bucks a share for launching for the military, small satellites, especially to get up for the CIA and national reconnaissance agency, he said. And it makes a lot of sense. But I don't think there's a lot of putting people in space or near space or just really high because they're not really at least in my opinion. You got to go 90 miles up, 60 miles, doesn't cut it. And of course, kind of like kissing your sister. If you're really not into orbit, I don't think you're an astronaut. 877-927-6648. Ford Pinto, what do we have here? Hector wants to have Ford rebuild the Pinto. There. The funny thing is the Ford Pinto made more money in the lawsuits against NBC when they put dynamite in it to blow up than I think they ever made on the car. But always interesting. The AMC Pacer, that just always wanted to paint that thing like a big turtle and put some legs on it. It was just a big aquarium looking thing, wasn't it? First car, 78 Pinto wagon. Okay. We got some more emails here. Take a look now. Anybody in the den have anything? Got a couple minutes left to go. Okay. CCJ. Don't think it's quite done going sideways. You got a couple of bounces. Now what I like though is if this gets back into this candle of the six with much lighter volume, maybe over the next couple of weeks, I put in my newsletter, The Tech Insider, about what I liked about this thing and some of the things that they're into. Again, that's not quite happening yet. We're in the church of what's happening now. It's not happening quite yet. I like it. A retest down there in that $20 range on lighter volume in the next couple of days could set up some nice lows. I'd love to see this thing go out sideways to the end of the year. And maybe the beginning of the year, maybe this thing will be ready to go again. You got to think that once we get within a week or so of the Olympic games, that China probably won't pull anything while we have everybody going over there. The question is whether they do anything now, but you've got what, two months? So you got another new moon to worry about. And if I was a third world despot or even a first world despot, I would think that the next new moon is no one's believing anything can happen is generally the best time to do something if you're going to invade Taiwan, which they talk about daily, and nuking Australia and nuking Japan. They're just crazy wild kind of guys, aren't they? Those Chinese communists. Okay, what else do we have out here? Question about Adobe. A-D-B-E. We'll be back in a minute. 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 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. 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The Tom O'Brien show, next on TFNN. As we come back, wrap up the show for another wonderful Thursday. Calling, coming up from what we talked about yesterday, and that was options looked fairly weak into the 17th. There may be a little difference, and that is a change in character. We've had some huge moves, all of them within a couple of days. I'm wondering today if this is not a new sign of a change of character, and that is we took some giant leaps. Maybe it's time for the market to act more like a market that goes up and down for a handful of days or weeks without giant falls and incredible euphoric moves higher. I think that it is very possible that we could just have these kind of minus half percent, 1% days to the downside and string a few of these together, three or four, maybe a day up and three or four down or something. Don't see a lot of people, volume wasn't right on the indexes. As we said in the trend for the amics yesterday, pretty scary highs, or lows, excuse me, for the arm slash trend in that, and that happens to be most of the big ETFs yesterday. I'm not even saying when I'm fairly bearish, but I have a feeling this is more of a frog boiling market. They're going to just turn the temperature up slowly. Before everybody got in and out, but I think the temperature comes up slowly over the next few days and into next Friday when we expire. But anyway, it's not the end of the world, $4,600 on the S&P cash is kind of what we're looking at now. That can change and we'll let you know tomorrow if it does, but I don't see anything changing here. We're probably going to be down a bit today, down tomorrow into the weekend, down a little bit next week. So when you can, not when you have to. We'll be back tomorrow like Patton. Same bat channel, same bat channel.