 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, Louis. We're going to look at the German DAX like we always do. Nothing's really changed here, folks. We could go either way, as you can see, without any trouble. And the FTSE is even more quiet. If you'll take a look at this one, it is in the same range here for what, six or seven days? More than that, 10 days. So not really much is happening to either one of those. I want to address the question that one of our listeners in the den today said that Maria thought that she could see a retest of the 2910 and the S&P 500. That could certainly happen. I don't know whether that's going to happen or not, but the good thing is nobody else does either. I have a commitment on something that I think the market might move lower. If you think it's going to go higher, that's your opinion. But I don't know what else to say. I'm wrong a lot, folks. Look at me. I missed a $75 move in gold because I thought I could buy it back cheaper. You think I don't feel pretty good about that one? Not very good at all. Anyway, let's move on to a couple of things that people have asked me about. One is this open interest thing, folks. I only check on open interest when the market is making a huge move out of a consolidation area like we had with gold or if it's making new highs in the market and I see something a little bit differently. Let me show you how simple it is to do this. I printed this out and I'm going to post it up here. Oh, shut the front door and raise the rent. Hold on here. Just a minute there. There we go. You just go to www.cme.com and then you see where it says across there, that big green arrow. You just click on the data arrow and then that takes you in the volume and open interest section. And as you can see there on the right, the only one that's in black is metals. That's the one we're looking at. And you just go down and you can see that the net change in copper futures yesterday was minus $5,476. If prices are going up and open interest is dropping, that means the market is weakening. That's what that means because that's short covering. If we look at this from another standpoint, and we'll just get this up here again so you'll be able to see, it's really simple to do, folks. Go to www.cme.com and all you have to do is click on data. And here it says daily open interest volume. And notice the one in black is open interest. That's for yesterday. And you'll notice there for the 10-year treasury note, which is the largest of all the commodities traded, you notice they have 3.7 million outstanding contracts. And there's one from that I believe is the S&P. And that's a mini contract. That's a baby contract down one-tenth from what it used to be. So it's down $94,955. It was up yesterday. The market is weakening. Those statistics come right out of John Murphy's book. I'll get this up here so you can take a quick look at it and do this yourself. Defy human nature. And you'll be able to see here that you have a rising price and falling open interest like we've had in the treasury notes and treasury bonds, the market is actually weakening. And in the copper, you had a rising prices and falling open interest, the market is weakening. With gold, you have a rising price and a rising open interest, the market is very strong. That's all that's telling you. The players are coming into the market. The CME is an auction house, folks. For every buyer, there has to be a seller. It's not like with ETFs and other stuff that you make this stuff up, that's mainly what you're watching when you're doing these kind of things. So that's why I think it's so very important to try to understand that. That's all I'm looking at. Okay, let's move on here. We had a big move in gold yesterday, folks. I had to do something yesterday for one of my neighbors here, and I had to leave for a bit. And I was short, so I had a couple... I had a very small position in silver to the short side, and when I was listening to the radio, I don't have a fancy phone to get prices and stuff. I heard that the price of gold was at $14.30, and I said, oh, there goes my silver trade, and I figured I lost my five cents. And when I came back, I couldn't believe it. It couldn't even take out the previous day's eye on a run when gold was up $35 on the day. Shut the front door. Unbelievable, unbelievable, unbelievable. Anyway, that's what's going on here. So keep in mind that sometimes these markets don't do what you think they're going to do. The other question that I wanted to pose here is that I did post a trade yesterday that I thought was interesting, and I don't know if it's going to work or not, but if you'll notice here in this euro, we were selling that euro up around that $14.08 level. It dropped about 35 pips last night, and I don't even know where it's trading right now. Last time I checked it was $13.95. The way I do that now is I just lower my stop to just a tick or two above that old high so my risk is almost nothing. That's the main thing that I try to do. I don't always do it that way, but that's what I'm trying to do. I've been asked to take a look at Apple, and I wanted to bring this to your attention here. This is, of course, one of the most, well, it is the biggest actively traded stock in the world, and it held us white as held. You'll notice we made a 1.27 expansion on the downside when it was trading down there at 142. We went up to the 78% level. A $78, $73 rally went up there at 215 and change. We came down to the 61% retracement again. These are perfect numbers, folks. If you don't think Fibonacci works, it doesn't work all the time, and it's certainly working with Apple. You'll notice that we're above the 61% retracement and most probably it looks like we want to go to about 204 in the Apple. If we get above 206, 207, that means you're probably going to go a lot higher, but it's been following these numbers. My goodness, right to a T, so you'd have to think that's what you'd think what would be going on. So that's neither here nor there. Folks, we're going to have Stan Harley as our guest today, and I'm going to do my level best to have Simonly on tomorrow or Friday. Thursday, we've got the Wizard of Florida, calls it to the minute, Winsky, and today is Stan Harley. And on tomorrow or Friday, I will have Simonly on if he's in Chicago. He's traveling right now, so we will keep a close eye on that to have him on to see what's going on. I wanted to bring a one particular chart to your attention and I know I put it. Oh, here it is. I do have it just a second. I've got these in order now, which makes it a little better. Yesterday, we were talking about the hog market, folks, and one of the things that we were mentioning is is that when we had this, when you had this big gap down, look at this, folks, you gap down below the 61% retracement, okay? That sets up a very, very, very scenario in the hogs. And just take a look what they're doing to the nearby August hogs. This is an absolute debacle coming in here. And you'll notice here, folks, we made a double top in hogs at 103, folks, with 30 cents a pound lower. And this is in the midst of this Asian flu. Now, what do you think they call that over there, folks? Guess what? Probably fake news. Is this a bunch of baloney or not? Now, you'll wonder why I'm a technician for heaven's sakes. Give me a break. You know, you can think and throw all the... Larry's going to get off of his soapbox now and be calm and read a few chapters out of the good book. Anyway, we'll take a little break here and I'll be right back after my solemn time for prayer. 877-927-6648. The Taz Profile Scanner is the most revolutionary piece of trading software that you will ever try. Wouldn't you like to approach the markets with confidence? As you begin your trading day, it's likely that you'll be faced with lots of decisions. In order to make the best decision, the first thing you'll need is a strategy that will help you minimize your risks. Whether we're in a bull or bear market, a good strategy is to have the tools needed to help you scan and analyze the markets before you trade. The Taz Profile Scanner instantly scans and filters over 2,500 global financial markets such as stocks, ETFs, commodity futures, and forex. 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Toll free at 1-877-927-6648 internationally at 727-873-7618. Okay, folks, I've posted a chart for margin debt and it just goes back over the last 20 years. Of course, it's different this time but as you notice, there is a correlation between stock market highs and lows and margin debt and we're at a relatively high level of margin debt. You can see the S&P in blue making a triple top in there and the margin debt turned down about a year ago and then I understand from the news early this morning that two of the Democrat candidates want to absolve the 2.7 trillion dollars in student debt so that they don't have to pay that back. I think that's really great and the fact that they're going to tax, put a tax on stock trading and bond trading and futures trading. I think that's a wonderful idea because pretty soon, if they keep that up, we will be looking like Weneth Wehler as some people would say. Anyway, the margin, they tell me that there is a pro-share for margin debt but I don't know anything about those ETFs so I'll look that up to find out if it is true or not but this does have some pretty interesting things. That triple top to me means something because if you go to 1999 and 2000 you'll notice the S&P, you'll notice that it was trading up there. If you just go to the left side over there you'll see that blue lines, you'll see the triple top there and then of course the market didn't top. In the NASDAQ, the doubt topped in January of 2000, the March 24th was the top in the NASDAQ so this means something I'm sure but I don't trade against it, I don't use the pro-shares or anything like that, I really don't. So that's it, we'll have to see if that's going to be the case or not. I did want to bring to your attention one particular future that I think you have to pay attention to and I don't trade this very often and that is the natural gas. It had a little bit of a move yesterday up about 6 or 7, about 10 cents, not very much so it shouldn't get below 218. 215 was low on Friday, it shouldn't get below 215 if that is going to be any good enough but we don't know if in fact it's going to work or not. None of us do that, I mean that's why that's basically why I'm a technician because I don't know what these things are that people are talking to us about. There's one other one that I have on a watch list, I don't know if it's going to happen or not very, very today or soon but keep an eye on crude oil up around 59 bucks per barrel. That could be a real interesting one folks if you're going to be looking at a low risk entry into the crude oil market. It's been very bullish ever since we made that 61% retracement and it appears that it's still moving higher this morning and we want to be watching that. The other one that is really interesting that still in holding pattern and that's the one we talked about yesterday that was a live cattle still trading right near this 108-109 level it stayed in a narrow range yesterday. This is the only one of the complex cattle or hogs that has any type of support down here so they're having a debacle of course in the hog market. Rich Anderson spoke to me early this morning and they said they had two very, very large hedge funds that were trapped that evidently they had not gotten out of their positions on the way down that they had planned on if they had a plan like that and now they were paying the ultimate price because there were virtually no buyers down here and they have to try to they have to get out of their lungs and that's not a good situation to have happened so we want to watch it relatively closely and remember folks we had this big move in the corn market and again, you know, maybe this is all discounted you know, we've seen this before we got up to 465 in the December corn and we haven't been above that now for, you know, well over two weeks so it might be a situation where we we'll see where it's at and we'll take a look at this. Okay, anyway, I believe there's a lot of support at 432 in the Christmas corn if we get down to that level that's the 382 level so I would keep a very, very close eye on that folks, I want to mention again that Stan Harley will be our guest at the half hour which is always fun tomorrow or Friday I'm going to have either half-Simon on Thursday we have the Wizard of Florida Mr. Winsky will be on so we have to watch this extremely very, very closely I want to check the the cocoa market, folks because someone's asked me a question about it and it's its major resistance here in the cocoa up around that 2550 level you'll notice that was a butterfly pattern a three drive pattern and a 61% retracement any time we get above 2600 you're going to have a pretty big move in cocoa to the upside would be my would be my guest but that's like I say it's my guest and I don't know just like anybody else we just have to wait and see now you have to give me one second here because I want to double check what the markets are doing and who is calling me at this time in the morning can't do it right now but have to do it a little bit later let's talk about the gold market that's an overseas call there's nothing I can do about that folks I'll have to do it a little bit later and we'll be able to see it okay someone's asked me a question if oil moved to be 59 the reason why 1.6% retracement is what that is that's really what you're looking at is when you're watching that so pay attention to that price it's just a little above 59 I believe in the August crude that's the one I'm looking at let's just do that right now that phone call folks we lost a good friend yesterday the wife of one of our students over there passed away and they were just that was just a call thanking us for the card anyway let's move on here to the gold market we've had a pretty nice move in gold we've had some pretty good swings here we've had just about a $20 move to the downside big swings in gold right now I'm going to be nibbling at the short side of gold here up around this 1433 level not risking more than about 5 or 6 bucks but that's just a short term trading that I'm looking at so keep an eye on that the S&P you know we've had a little bit of a bounce from our low last night we rallied 10 points that's all we've been able to rally folks over the last few days since we topped at 2960 we've been railing basically 10 points each time so you know if we get something bigger this time I guess it'll be probably a 15 or 20 handle move 20 handle move will take you up to 2962 and I believe that would be a very strong resistance in this area and we'll be able to see if that's going to be the case Maria I have to apologize to you dear when you said 2910 I see 2910 also I mean it is not going to happen overnight but I think that's going down I was I don't know my mind must have been reading 3010 because I'm very very stocks stop get off my softbox a little bit I don't want to get on this thing too much bologna here all right let's move on here to I want to cover the coffee market here because it's really it's it's really trying and I don't trade I'm thinking of trading it but look at this really nice pattern that we have here in coffee if it happens and I will trade this one if we get down here in coffee that's what I'm looking at okay that's I'd like to see it down about another 10 cents down to about 90 cents a pound I will be looking to buy the coffee there that's a perfect Gartley stay tuned for Stan Harley and we'll be right back 877-927-6648 Larry Pezzimento has just started his brand new service Fibonacci 24-7 and he's already delivering content to his subscribers on a daily basis when the markets opened and even on weekends each Monday you'll receive Larry's written report that provides detailed commentary and a summary on the charts and videos that Larry sends out and throughout the week when warranted Larry will send out via charts or videos or both the key markets 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timing the trade charts allows you to scan thousands of stocks for Fibonacci formation setups including guardleafs, ABCs, butterflies and much more 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 get your copy of the art of timing the trade charts 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 we're back folks and we're talking with Stan Harley the Harley stock market letters are you there my friend good morning Larry that and Tucson how are you I am good my friend we have a question from someone here at tfnn that is totally confused and it happens to be me do you have any idea about these zero interest rates and negative interest rates that that they're talking about well Larry it's my belief interest rates are heading lower okay not higher and in my latest report which you have there on your desk I show a 40 year pattern and interest rates going back to the 1800s the last in 1860 the yield on the 30 year treasury made a high 40 years later 1900 made a low 1940 made another low 1981 made a high the next pivotal turn in that 40 year cycle by my count is due November December 2022 sure over in Europe rates are below zero my sense is we're going to do a double bottom with the 1940 low it's got down to around 1.8 and I would suspect we'll get down into that range could be a little above could be a little bit below but essentially a double bottom with the 1940 low so I look for the yield on the 30 year treasury to get back to 1.8 minus somewhere in that range so the pressure is down now after the latter part once we begin 2023 I think things are going to get very interesting across the board but we got we got three and a half years of party time and I heard you on the air a little while ago talking about giving spreading candy out to everybody who wants to get free student loans I was a student college but I paid my own bills I didn't need somebody else to thank you very much but Stan when we went to school the tuition was $10 a year yeah it's all relative Larry yeah it's all relative yeah yes well I when you hear what these people pay to go to school like 48,000 to Harvard and Dartmouth which I think is the most expensive college is close to 75,000 I believe so well I've got two sons what one of which is a graduate of Arizona I know all about writing those checks well Arizona we need those that's for sure yes hey listen Stan before we do the stock market what's your feeling on the precious metals are we near a high in this area Larry I think so I think I think we are if one looks at a monthly chart of the metals complex I see very clear evidence of a cycle that averages about 95 months that's just a skosh under eight years and beginning with the January 1980 high if you count forward in time 95 months plus or minus you'll see we tend to make pivotal highs quite regularly the last occurrence in that cycle was in September of 2011 and my regression modeling suggests that we are awfully doggone close to the next high we are right now was at about 92 months or so from that high so we're there we're essentially there now pinning it down to the day week minute hour is the challenge I also look at weekly and I'll also look at daily data silver I heard you on the air talking about that a little while half an hour ago silver is lagging gold considerably I've never seen that happen Stan not well I've never seen a divergence like that before have you seen that before where silver is lagging so badly you know it's all it's different every time but divergences mean something and of course they mean something at the tail end of a turn of course they can go on for protracted periods of time but I think what we're in is if one goes back and looks at the 1980 peak and you saw a sharp drop into 1982 then you saw a retracement rally and then the trend continued lower I think what we're experiencing now is analogous to that that is the September 2011 high is roughly analogous to the January 1980 high we saw the sharp drop bottom December 2015 we've been coming back up chugga lug chugga lug higher more or less now we're right at the next 95 cycle high the 95 month cycle high we're either there or we're very very close in my opinion and then I look at the divergence on the silver chart and that says mm mm mm yeah that's that really shocked me yesterday when I saw what silver had done given the fact that gold was up $3,000 silver couldn't even be up two cents that died I just hadn't seen that maybe I saw it I don't remember it that's for sure Stan one of the things that you're talking about in your letter is pretty obvious by looking at the charts and at this monster triple top or whatever it is but you assume that we're going to break out to the upside on this is that correct I am Larry and you go ahead and show that chart if you would please from paper here you bet I'm looking at it on the screen we've got that what we've got the gan rule of four developing here and this has been my theme for some time and this is a pattern at least to my knowledge was first observed and commented upon by WD Gann about a hundred years ago he called this pattern the rule of four and simply stated the rule of four applies when a market either advances to a level of resistance or perhaps a gain angle or a trend line there are essentially three touch points initially which all fail to punch through and then the fourth time is make or break and that's exactly what's going on now if you look at the down we've got a little bit above it but each time we pulled back below 25K we tried in January 2018 again in October of 2018 again in May of 2019 and each of those three attempts failed the market fell back below 25K and here we are straight down to the bottom we've got a little bit above it but each time we pulled back below 25K and here we are struggling again I heard on the air art cash in and many others are in the back of their voice are talking about triple top triple top that's exactly what I want to hear is skepticism and then if I'm right about the rule of four the fourth time we should punch through and I think that's what's developing right now the down the SMP made margin of new highs a couple now just a little back and fill I suspect by the end of this week this little back and fill thing will have run its course there's some serious trade negotiations going on in Japan with China and I know President Xi and President Trump will be getting together a lot of part of this week given my expectations for a market that's going to power higher my sense is whatever comes out of those meetings between the two presidents of the two largest economies on planet earth is is resolutely positive and what do you know you and I wake up one morning and the futures are I pop into the upside that's my expectation we'll see we'll see what pans out but that's my expectation okay that makes great sense one of the listeners that we got a break coming up here but when we get back I'd like for you to address the fact that they're saying that they notice the absence of any oscillators on your on your on your charge do you want to you want to you're basically just look at cycles and stay with us Stan could you do that please absolutely if you stand Harley the Harley stock market letter we'll be right back if you're in the CD market and looking for a secure investment the Tiger First mortgage program may work for you the security for these first mortgages are building lots 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do you get to the conclusion that's that's what they were asking well that's there's that's a complicated response to that I look at a plethora of things of course I'm a market technician I look at charts I'm primarily a cycles kind of guy so I will look at a chart and initially it was through visual visual inspection try to spot recurring highs and lows and once I think I found something then I will input the data into a spreadsheet and do a regression analysis of the data and if I can find evidence of a cycle that has a reasonable standard deviation then I'm on to something but I also use indicators that measure both track both price velocity as well as price range and I it's the combination of the two across multiple time frames that I use in trying to decide whether I think the markets are going up or down some some issues in the newsletter I put indicators in there and some I don't this particular issue that just came out a couple days ago I would not I would highlight though the fact that I've got the market internal data in there for example I've got the advanced decline on and an advanced decline oscillator that tracks a 10 day and 30 day moving average of the net difference between advances and declines the advanced decline line by the way which for those who may not know is just a running summation of each day's net difference between advancing issues and declining issues on the New York Stock Exchange and by maintaining a running summation of that data we construct what's called an advanced decline line many technicians utilize that tool and the AD line by the way just made a new all time high so that is that that's strongly supportive of my bullish thesis well it's certainly playing out that way for sure one other question that we have Stan and that is the the work of the foundation for the study of cycles and Edward Dewey did you look at any of his work that he did during those years that he was quite famous during the 20s 30s 40s 50s and 60s? Dewey absolutely I did Larry I've got his book on my shelf and then when the foundation for the study cycles was back here in Irvine California I went to all the the luncheon meetings and the evening meetings for years and years and Dewey's original notebook was there for everybody to look at and I with parsed his notes and looked at them very carefully yeah I wish I could have met him but no he came came before me that's for sure yeah well that's for sure hey listen I can remember I can remember trading those bonds back in 1680 that was how far back I hey listen thank you for being on our show tell the folks how they can reach you Stan and get an idea of what you're doing best way website is www.harleymarketletter.com okay listen I'm going to do my best to get up there soon and have lunch with you I've been saying that but this time it's for sure okay look forward to it Larry alright thank you very much Stan Harley of the Stan Harley stock market letter and I want to cover one other thing that's the one of our listeners was asking about and that was hold on just a second I got to get the chart up so we'll be able to see it it will only take a second here and that is the market for the gasoline where is it it was natural gas but we'll cover it again just because it was that we did cover it once but let's cover it again because it's such an important level here down at that 218 215 being the low I think it was a slightly lower today as long as we stay above that 215 level this has a chance to have a pretty good rally you've got that three drive to a bottom pattern remember this is a weekly so this covers just about six months in here and you'll see that that is a three drive to a bottom pattern stopping right at the 78% level and that's why it's that's why we think it's that important now sometimes they work sometimes they don't but that's that's neither here nor there so it will be a pretty good idea to see how these things actually move on to some of the other things I know there's a lot of chatter this morning in the room this morning at the Tiger Den talking about the hog market and believe me Mr. Z I have Mr. Anderson on it and also Mr. Monly on it because those folks are in the business and they're what's going on in that hog market is very very unusual because we have this Asian flu out there and it's supposed to decimate the Chinese herd and remember there's 1.5 billion Chinese there's only 388 here a million here in the United States so something's not right in Denmark boys and girls I don't know what it is but we have to pay very very close attention to it there's one other stock that I think deserves our attention if you'll give me one second here I'll get it up of course it's one of the Fang stocks and that is Facebook because it's under a great deal of investigation investigation here you'll notice here that we have a pretty strong rally here off of our bottom on December the 26th we're up here around that 195 level we still haven't broken above the 78% level slight divergence but this stock is in the news folks they're trying to put some regulations on probably there should be some because you know social network is pretty powerful and if you don't control it at least somewhat you know what are you going to do they can take anybody off at any time and you know then they tell you what they want here that's well we certainly live in different interesting times don't we folks that actually happens to be a Chinese curse so we'll go on to the next one we had one other Fang stock that we wanted to cover that looks like it could be ready to either go straight down from here or go straight up and that is Netflix as you can see on the chart of Netflix I believe it was probably a short up there around 269 I don't know where it's trading right now but I wouldn't risk more than $7 on that but that was a very nice guardly pattern in a short term downtrend it's got the things necessary to put the trade on a B equal CD really good price symmetry between a B and CD all of that lines up I don't know what the stock's at all folks in fact I got a tip yesterday Friday I got a tip yesterday from what was the stock as elegant one of these stocks that went up about 30% I can't remember the name of it but it jumped 30% yesterday a guy didn't know anything about any buyout or anything like that but he had a chart pattern that he really liked and sent it on to me and said this looks like it's getting ready to go up and then this morning he sent me an email showing that it I can pull it up here and email but I want to waste that time I should do it if I'm going to say something about it I ought to do that let me get up here and see if I can get this thing the way it should be and then we'll get you the name of this stock oh that's not what I want to it's a trouble when you hit the wrong buttons at my age it's oh dear this is sick I had to get inbox where are you Alan come on where does that stock at I don't have it son of a gun nope that's not it I'll find it and I'll let you know at the end of this break that's coming up here we'll certainly have it for you where are you Alan you're here in the email somewhere I didn't delete you I'm wasting time here I hate to do that but that's neither here nor there I'm going to find this because I think it's important enough because that's the first time that was a tip ahead of time and I didn't I actually didn't have anything to take a little break here and I'll get back and talk about this stock just a little bit here I'm certain you are or strive to be one of the best of the best at everything you do in life it's the most common trait that we tigers and tigers share if you're looking to become the best of the best when it comes to managing your money let me teach you to do what most wealth managers tell you can't be done which is how to time the markets I'm Steve Rhodes author of mastering probability for the last 12 months timer digest has been tracking my newsletter signals which have earned me the ranking as their number one market timer in the nation for the S&P 500 for the last 12 6 and 3 months timer digest also ranks me as the number one market timer for gold as well the fact is markets can be timed and I'll teach you the exact set of tools that I use that has transformed me into one of the best at what I do sign up for mastering probability today by clicking on the newsletter tab on the tfnn.com and get immediate access to workshops where I take you step by step how to use an extraordinary set of tools as well as provide great market calls to sign up today if you haven't checked out the newsletter page of tfnn.com what are you waiting for all of the tfnn newsletters are informative up-to-date affordable and must have for every trader looking to gain a competitive informational edge in today's markets tfnn newsletters cover every aspect of the markets to offer you the very latest in market news plus new subscribers get to test drive our newsletters risk free for 30 days from all aspects of the markets including stocks, bonds, metals commodities and tech there's a newsletter to fit your needs exclusively from tfnn stay informed each day you trade and get that competitive edge that will help you stay ahead of the game visit our newsletters page by going to tfnn.com and click the newsletters button near the top of the page tfnn.com educating investors since 1984 Bazal Chapman has been using the Chapman Wave methodology to advise traders of his expert market opinion while originally hand drawing charts from the late 1970s into the 1980s Bazal noticed that prices under most circumstances virtually always had a certain number of legs to the upside before declining sharply later Bazal found that computer software which included the standard market technical indicators enhanced the degree of accuracy in calling price turns as well as market trend calls thus was born the Chapman Wave sequence using the Chapman Wave methodology along with other indicators Bazal Chapman advises his subscribers of his expert market opinion each market day with his opening call newsletter right now you can get a 2 week free trial of the opening call Bazal's daily trading newsletter by visiting the front page of tfnn.com cancel at any time during that trial and pay absolutely nothing get your 2 week free trial to Bazal's newsletter the opening call 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 we posted a chart here we've been down 7 days in a market that looks like it's turned higher the difference between the 61% retracement and the 50% retracement where we are now is $200 and if you like sugar you got to take that risk so sugar looks like it wants to go higher from here folks just being down that many days in a row should be positive one correction when we were talking about crude oil folks the August crude that I was looking at the number was not 50 above 5900 it was above 5800 5832 I believe was the number the 61% retracement on that whether it's going to be doing is it 1240 so it's trading just about exactly at the 50% retracement so you know your risk there is you know you got to risk $400 darling but if it works it's going to be a good one because look how many days in a row we're down we're down 8 days in a row and the most it can do is drop half a cent that's not bearish that looks pretty bullish as a matter of fact I'll have to check my fundamental note sheet Ruby to make sure the fundamentals line up with this because it's it ought to be pretty good I have a running joke with with Saim only about the fundamentals because when I first met Saim many years ago there was a market that was way up in the air sugar and he was so wildly bullish and I had to really well never mind we're going to have Saim hopefully on tomorrow or Friday depending upon his travel situation because there's a lot of things going along in these grains and tariff stuff and he's involved in some of these negotiations whether that means anything or not we'll try to have if between Thursday and Friday we'll have Rich Anderson on on either one of those days in between and then on Thursday of course we have the wizard himself from where's he from schools Florida norms you got to give norms and credit folks he's had some really great calls on these minute to minute moves in fact Mr. Z pointed one out today that the bottoming on that solstice was really you know spot on so we'll keep a close eye on that so those are the things we're watching today live every day in an attitude of gratitude and may god bless and folks try to do something nice for someone that doesn't have as much as you may god bless you