 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. As always, we come to you at the appointed time. The following takes place between 2 p.m. and 3 p.m. So, what do we have? Some pretty massive selling. Yesterday and the day before, I guess, mostly yesterday, we talked, or at least I said, I was suspicious of a big gap down today. And that as far as I could tell, the market wasn't acting any different than it was the day before. You had these kind of minimal bounces and then they get rapidly sold. And at the end of the day, everybody runs for the exits. I would say right now that we have probably a better, maybe 85% chance, probably going up a little bit higher that we are gonna go down and test that big S&P low that we talked about the other day. Get it up here. So we can go to it and that is, is this one? Yeah, there it is. 36, 36, 87. That only had about 7 billion shares, a pretty light volume. And that was a fairly light volume test of a previous low. But guess what? The energy on the way down wasn't. Now we just have this, what is probably a very wide trading range. Now, have we gotten into the candle? We did too much volume today. Yes, you want it to be less than 7 billion shares. Now, this is a little different than the CBOE volume. We're doing about 5 billion now. So you'd have to have 7 billion. I think that you'll probably get there. So the volume's about the same. What you would like is not to pierce that 36, 36, 87 low from June 17. You'd like to wait and try that on Monday morning and that one be a very lighter day than today. But we shall see. The energy, I mean, is it a complete disaster? We had 10 times more energy on the way down? No. But is it just a bigger trading range out here where we actually have, what, darn near a 700 point range, almost 700 point range in the S&P? It could, it may be the best trading we've ever had in our lives. The 36, 36, 87 may fall like the soldiers at the end of the movie 300. They may just eventually be overwhelmed. No matter how much they've pumped themselves up and oiled themselves down. Yeah, you knew how the end of that war ended. Well, I mean the end of that battle anyway. 877-927-6648. I've had a lot of people emailing me telling me that the market's going to go straight up today. I don't see anything out here that says that we have a low before probably Monday. But I'd love your phone call if you think differently and tell me how today the market is trading any differently than it traded yesterday. Cause generally that's what you're looking for. Some major tick, some symbol out there, a burning bush, which is my favorite euphemism or a big signal that a blind person couldn't miss. Cause that's generally the way these things happen. They don't come out and they're not subtle. Like Tina Turner, they're not easy. They like to do it hard and you generally get that. So today you're probably gonna have a little bit too much volume. You'd like it to dip in there and get out of there, not have a lot of people believe it maybe on Monday or Tuesday, but you'd love to see that 36, 36, not only touched but pierced. Have a lot of people just give up the ghost and the retail traders give it up because generally when they throw the baby out with the bathwater, generally it's a good sign that you're within a day or so of a viable low. At the moment, I don't see anything that says that if we get a big washout, maybe at the close you might get it. I still would rather try to trade Sunday night in the futures than be locked into any kind of either futures or, well, not even just futures, options or equities before Monday morning. Again, 877-927-664-A, okay, and what else do we have here? Okay, looks like we're fading once again. Like I said, I don't get any sense that we are going to, or that we do have anything different than we've had the last couple of days. That is a lot of people teeing up to sell the clothes. Okay, so let's go ahead and get to some of the stuff that I was talking about in the update. That is the UK lifts the fracking ban. We are now starting to see the western block of Europe came in, and that is not only are we gonna have problems buying more energy because of a massive recession slash depression in the western economies, but at the same time they're doing everything they can to get crude oil prices down over there. It's gonna take a while. I think the shock and awe of today will fade over next week, especially if we get that hurricane going back up as the patterns generally. I'm gonna say 29 out of 30 times when they predict a landfall on the western side of Florida. It either goes to the Panhandle or it goes to Louisiana, Texas. And if it goes to Louisiana, Texas, all the oil rigs have to shut down. So we shall see, it's supposed to pass by Florida on Wednesday next week. We've talked about the possibility of a perfect storm and that is something like a storm in the Gulf, the government shut down, and aliens coming down to probe all of us, you never know what the third one's gonna be. But certainly the potential out there is or something we haven't heard or talked about yet. 877-927-6648. Government shut down, we talked about storm and the Gulf had a question about silver today. And one thing that I've talked to some folks that are in the upper hierarchy of metals that we all know, but will remain nameless. And that is why people are getting out of the London Metals Exchange. I heard an argument today, I don't know if the rest of the argument, I'd never got to hear the end of it, but the beginning part of the argument was that no one's, everybody's leaving or not very active on the London's Metal Exchange. And my response to that is, well, you just screwed everybody over a nickel. I can't imagine anybody wanting me in the London Metals Exchange any more knowing that they'll do anything to save freighters at the expense of the people that have contracts. We'll be back in a minute. Time of booming inflation, we are purchasing powers eroded, there's no better place to protect your harder and money than ain't gold. This the gold's flagship asset is the Monk Todd Gold Project in the Northern Territory of Australia. This is Australia's largest undeveloped gold project. We are talking a world-class gold project in the T1 mining district. 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To give you the competitive informational edge you need to succeed, these newsletters are packed full of Tom's advanced technical analysis and are geared to deliver comprehensive strategies for a successful portfolio. Get Tom O'Brien's newsletter, Market Insights today and try all of our products and newsletters 30 days risk-free with our money-back guarantee at TFNN.com. TFNN Educating Investors. At 1-877-927-6648 internationally. At 727-873-7618. The market already in progress over most of TFNN. We're down 100 points now on the S&P cash. No big whoop there. Again, maybe we test it today. Maybe it's on Monday. Right now the volume is fairly good. We were having problems Monday and Tuesday hitting six billion shares when the show started. We're doing about 8.2. That tracks to about 12 billion on the day. Really needed to break through this on about 16 billion. This will be more money or more volume than last time. But again, it's the quality of the selling that I think is most important. And that would be, is the retail trader throwing the baby out with the bathwater? I won't see those numbers till tonight. And no real reason to get in front of a dump truck running down the road at 50 miles an hour to pick up a buck. Probably the best thing is to see the market just sell off into the weekend and get some real desperation, some real demoralization, some real depressive action in the market. And I continue to get far too many emails of people telling me that it's time to buy. And it may be, I just don't think it's this minute or probably the next. And one of the things I did wanna share with you folks because I think I have it here. Let's see if I have it here. It was in my newsletter this morning. But one of the things I really love is the, and I didn't think that there was a chance that we were actually gonna go higher and I thought there was a 80% chance we gap lower today was a kind of a wisdom of crowds thing in the PD9 count. I'm not a big fan of just doing it by itself. There are kind of a lot of signals that are just a little bit better than a flip of a coin. But if you put them together, they are much better. I think TD9's are one of those. We had one of the biggest TD8, negative eight counts in the, I think I got 20 years of data on the dailies. But we get more stocks, I haven't normalized it quite yet but certainly in the last five years even normalized we had more TD negative eight counts yesterday than anything which pretty much means you're gonna get a negative nine count today. And of course that can go to a negative one. And the way Steve Rhodes does it with the guy, the actual guy that does it means that you can still have your TD9's today, negative nine's and still have maybe Monday or Tuesday before these things resolve themselves. You still have a lot on sevens and sixes which those may still roll through for a few days but you may have at least some capitulation today and or Monday. This is the chart from yesterday, not today. So you've got one that's a little less on the negative six so maybe you bounce on Monday, maybe come back on Wednesday, see the end of that selling and we find some kind of low going into the fall. September is statistically one of those things but certainly you find lows very often in September. You don't have to be a witch doctor or a rocket surgeon to actually figure those out. But we go through the rest of next week before we really get into fund buying. And again, a lot of people are gonna be looking at next week and saying, okay, government shutdown, we got elections coming, what do we do? Do a lot of people stand on principle? What else happens? And for the reality is it takes about three, four weeks for the government to really shut down cause any issues but everybody always wants to go penny, penny, the sky's falling and a lie, blame on one side or the other. But I don't know, it's hard for me to get too excited about throwing a lot of money. We could get a fairly nice bounce, maybe a retest come Wednesday, maybe the clouds lift the end of next Friday. We get a little bit of fund buying. Everybody's washed out. The retail buyers have decided to throw the towel in and the market turns and goes higher for a while. Doesn't mean that we can't come back down and blow this level out yet again. But October tends to be historically a little bit bullish along with the move almost through Thanksgiving. By Thanksgiving, we pretty much know what the retail sales are gonna be. If they're bad, generally that is problematic for the market all the way into the first of the new year. 877-927-6648, I look forward to your emails and other things. Let's play this round here. Got a couple emails already. Okay, what do you think of the sport of USO around 6350? Let's take a look at that to keep that back up here. He didn't say what time frame. So we'll take a look here and see. Compliance, right? Well, you've got fairly good confluence. Let's go back here and look at it. Fairly good confluence at 74-44. That's your big resistance in the USO. And that's gonna be tough to get through 74-44. Not impossible, but that is where your major line of resistance, you have a bigger kind of fatter one out here. And that's why it's so tough. That runs from 62.05 to 66.43. I'm not exactly sure if you see another one that I haven't seen. Let's go to one year, maybe he's looking at something else I'm not. You got kind of the same thing on a one year, a little less, two year. Yeah, you just got the big fat one now. When they're very tiny and less than about a half a percent or 1% is where I kind of draw the line on them being mushy and then being firm, kind of like picking out a watermelon, you gotta thump it. A good thump is a very thin line, in this case, 74-44. To 75-17. So what is that, 60 cents on a $74 stock. That is good confidence. This one from 62.05, 66.43, is still gonna be tough to get through, but it isn't kind of the wall of a great wall at China. Maybe it's like the great wall at China now. Everybody's stolen all the rocks over the last 20 years to build the stuff with, and now there isn't much left of it, but we're just in kind of the downside of this report. If you wanna take advantage of this sector, now is the time to subscribe to my Gold Report. 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This segment is brought to you by Think or Swim. For more information, just click the Think or Swim banner on the front page of tfnn.com. As we return, do a little history and then we'll move on here. Wait. And it's all just a little bit of history repeating. On this day in 2008, Google and T-Mobile introduced the first T-Mobile G1, also known as the HTC Dream, the world's first Android-based smartphone by raw sale numbers today. Android is the world's most popular smartphone platform. Of course, in 2008, they had zero part of the smartphone market. They'd given up a few years up to Apple, but as they launched this phone, it would take only three years for them to become the dominant platform and have over half the market. But by 2014, they had 80% of the market. They now have 92% of the market, with Apple having about 8% of the business. But since their phones are three or four times more expensive, they tend to have a lot of margin. And the Chinese phones, Google didn't wanna get into that business so much. They do have their own phone that they make as an example for the rest and they do sell some of, but they never wanted to be in hardware that much. They just wanted to make sure that they had a example for the rest of everyone else to go after. And of course, if you are at the high end, you either have an iPhone or you have a Samsung, but yeah, I have something else. And since I'm home all day, trading or being on TV, I just don't use it that much. Besides, I'd rather talk to somebody in person for the most part. I'm not a big phone talker. I've kind of talked out anyway by the time I get done with my show. Okay, so that's it, 2008. You can still own 92% of the market and at least on the hardware, not make that much money. But that was never the point. The point was to own the market and Google still does. Let's see, since we started the show out here, what do we got now? We should see it. Okay, off 2.66% on the S&P Nasdaq, down 2.7%, Dow 30%, 2.5%, Russell 3.37%. Crude off almost 6%. So yeah, we're probably coming into some kind of low in crude, it may take a couple of days to get their gold down almost 1.8%. So let's go ahead and get to some charts where we got it. Question about the XLE, is it Katie Byer the door with the XLE? Well, you're down today, volume's okay, it's not huge. I would love for it to get slammed down to 65.48 again. I have some patience and I am not long, so it makes it a lot easier for me to sit back in the cheap seats, throwing peanuts, but you've got enough volume today that I think you're certainly gonna probably get down in another three bucks. Again, there are some reasons why the economies of the Western nations and China and Asia are all spiraling into the ground, worse than the Lawn Dart, but we get that 65.48, my guess is we're gonna probably find some lows. At those lows, we're gonna run out of oil in the SPR and that will probably set some kind of very good long-term trade in crude for a while. I'm also a little dubious about how fast all that European and UK oil and natural gas will actually flow. My guess is they'll have a bunch of people chain themselves in front of everything that moves to make sure that we don't get any more fossil fuels, so, or at least they don't. And of course, it'll be a tough one to say, I like all those green folks, but I also not like freezing. Also wanna eat something. And of course, natural gas gets made into fertilizer and why won't affect the next month or two, certainly is problematic. Okay, so we have that one from Hector and the four barrel and the Holley six barrel that I used to have on my 70 CUDA. And let's see, good call on waiting a day. Yes, it's hard to buy on a Thursday for me because if you're going down generally or short on a Thursday, if you're already going down, you're probably going down further. And if you're going up, you're probably going up further on Friday. Now is that 100% no, but is it 60% I'd say so. So it is problematic to do that. We already got to Gary's question on USO. Let me know Gary if that solved or answered your question at least for my opinion and see what else we have. Okay, in phase. E, N, P, H. One of the things that I think quietly most people haven't been keeping an eye on is the price of lithium, especially on the exchange in China. It officially broke through 82% higher than I think it was three or four months ago. So in a four month strain, the best performing commodity was lithium. It is a rare earth element sort of. And the name probably not good and it's rare. No, there's a lot of it, rare earths. There's a lot of them. The problem is they're just not in any concentrations except at very few spots where it's economical enough to buy. But we've seen 80% bounce in a handful of months on the lithium. It's gone from I think $38,000 a ton in US dollars on the China exchange to I think 74,000 today. I think that was the adjusted ones. I should have kept that article up today. And unclear what that's going to do to the price of EVs. What we can say though is that even Tesla is having some problems with the weak market and it's headed lower. 265.74 is the next test. It did test the previous high and do so with half the volume. So it does have a valid high sell side. I suspect part of the selling in Tesla is not only that, but now we're probably at right now the average EV car around the world sells for more than $100,000. Until they get that down to about $35,000, you probably won't see wide adoption. And also you're not gonna see lower-ended models. Somebody brought up in the tiger's den the other day that Ford wasn't gonna sell any of its low-end models. Tesla advertised a lot of them. They never ever came out. You could, people ordered them and they just got put off and put off and put off because all those goodies like screens and other stuff is the gravy of selling a car. I remember in the 1980s, there was a study I read that showed that although the Cadillac sold for the, which was almost exactly the same as Chevy Crease at the time, cost $450 more to make, but sold for $4,500 and it was like 81 or 80 or something. So there's a lot of margin in those. And of course, that's where they wanna, you can only build so many, you're not gonna build them cheap. We'll be back in a minute. Sharpening your skills as an investor is like getting better at playing a musical instrument. You have to practice, sure, but you also need excellent instruction from experts. At TFNN, you'll get advice and guidance from the authority and technical market analysis. And it's not just dry, tedious text either. TFNN airs live financial content streamed live on TFNN.com and TFNN's YouTube channel with Tiger TV, live every market day from 8.30 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. Watch online at TFNN.com or on TFNN's YouTube channel and become the investor you were born to be, TFNN, educating investors. The technology around us is changing every day. With so much happening, it can seem impossible to keep up with all the information. 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I have a question regarding to last Thursday with Mr. Tim Ord. You were asking him several times, are we going to hit June low? He believed, no, we are not going to June low. What do you think about, today we are below the June low. What do you think about his opinion? Well, you have to understand where he comes from. Mostly his newsletters go to money managers and if they trade more than a couple of times in a month, they can go to jail or get fine. So his calls are generally very far out and what he's saying and I'll interpret for him is that when he said he thinks we've seen the lows of the year means we can go back and retest them but he doesn't think they're gonna break. Think of you go back and listen to that show. I think that's exactly what he said but you need to, most of these things like timer of the year and stuff, you need to remember these guys market forever. Well, money managers and investment professionals are selling their services to invest for a lot of people. My brother did the exact same thing in Chicago but you end up having a much different view than a trader that I have. I don't need to walk myself in for three months or six months or nine months but that's exactly what you have to do if you are advising somebody that is in a position where if they trade too much, they lose their license. Does that help a little bit? Yes sir, to be honest with you, I am being in this market one year before crash of 1987, Black Monday. I am almost in the market for over 35 or 36 years but when he was insisting we are not going to the law of June, I believe even you did not believe about his opinion. I believe even you thought we are going to break the June law. Now I think from what I heard and I've known him a long time and I traded with him when we had kind of a system that was working that no longer works but for about four years it worked very well. We were on the phone every day. I kind of understand where he's coming from and how he thinks. But I would say that if you go back and listen to that show, I think he said we've seen the lows of the year which means we're probably not going to break those lows. So I don't think he said we're never going to go back. He said he didn't think we would which is different than we want than we won't but I think he said he didn't think we would but I've known him long enough that when he's talking about stuff I call him kind of the glacier kind of trader and that is that he doesn't do anything that lasts a week or a month. Everything he does is nine months, two years, five years. You know, he's in stuff. I knew him, I knew him holding one gold stock for like nine years until the company got bought out. So he's not one to trade quickly. So I would say he's less of a trader and more of a long-term investment but again, that's his crowd. And I kind of like him being on the air because he gives me the long-term view but I'm not going to have to sit through it. I don't have any problem with buying and selling or something in the next five minutes but it is a pretty cool. Go ahead. Well, what do you think about at the end of this year? What is your opinion? What do you think the SMP, you believe we are going? I know it is very hard to guess but what is your opinion at the end of this year? Have you heard me talk about Fog? Yes. Okay, so for those people that happen, I believe that, let me put it this way, I trade like I'm in Fog and that is everybody believes that they can see a lot farther than they think they can and that's why there's so many 40 car pileups on the highways in the winter, especially in the winter, snow, Fog, but you always see 40, 50 car pileups because everybody believes they can see the same way that they can see when it's in clear air or most people and you have to know that you just really can't. So for me, I try to put a horizon out that maybe is two months and right now we're at the point of a big decision. That is, does this 36, 36 actually hold? You know, is it gonna probably be as much volume as we had before where we tested it before? Probably, but is it gonna be a whole lot less than we had before? Also, yes, I think there's a low in there at about 18 million, 18 billion shares on the CBOE. So is that just coming back and for its test, which is what I always thought it was gonna happen if when we were talking with him, if you, I dislike any high volume low, not getting retested. And we gotta retest it. And I thought just because of the energy on the way up that we were probably more in a trading range than anything else. So I'm very interested in the next two days. There's a lot of signals get to the end of September. Everybody's probably gonna freak out about government shutdowns and storms and Russians nuke and everything. I mean, to me, it's kind of like everything's on sale when I see those headlines, but it doesn't mean that it's time to buy quite yet. Warren Buffett says the stock market's a great way of moving money from the impatient to the patient. So I'm waiting for some kind of burning bush and every time I've waited, I've been very much rewarded. Same thing in going, when everybody just hates it and just sick. And I hear people talking at the bar or the restaurant telling me that the end is nigh, I love it. Because that's some of the best times I've ever had wins off the looks. So I think Jesse Livermore has a quote. He says, when you finally get and everybody's completely demoralized, you better cover your shorts. That's because generally you get huge rips in the market that very few are prepared for. The downside is everybody tries to buy those all the way down until they get the big signal. John from Philadelphia, not that one John but the other John that's been around for a little bit longer, likes to tried me a little bit about me talking about waiting for the fat pitch down the middle of the plate. I don't know if you're a big baseball fan of fishing in an auto, but that's what I'm waiting for. And if I don't get it, that's fine. I'm not too wigged out. I don't have a big fear of missing out. But I've been able to tee up some huge wins on. Does that kind of answer your question? Yes, sir. Thank you so much. I appreciate it. Have a good weekend. Bye-bye. Thanks for the call. We'll be back in a minute. Mr. Gold owns and operates the largest undeveloped gold project in Australia, the Mount Todd Gold Project. Mr. Gold just completed their feasibility study, resulting in a 7 million ounce gold reserve. Mr. Gold has all major permits approved and has retained CIBC capital market assistance in evaluating alternatives and in completing an accreted transaction. Mr. Gold trades on the NYSE American and TSX under the ticker symbol VGZ. Mr. Gold executing a strategy to create shareholder value. You might think that if you want to be successful at trading in the stock market, you're going to need a crystal ball. After all, it's impossible to predict the future, right? Like any endeavor in life, before you decide it's impossible, get some advice from the experts. You might find that it's not so impossible after all for daily market overviews that give you direction on the key indices, selective stocks and commodities. Subscribe to the Opening Call Newsletter at tfnn.com. The Opening Call Newsletter is written by Basil Chapman, creator of the trading methodology known as the Chapman Wave. The Chapman Wave up-down sequence gives you an edge in identifying price turns, finding the peaks and valleys in stock prices. Get the Opening Call Newsletter by Basil Chapman in your inbox every day. First-time subscribers also get a 30-day money-back guarantee. If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up. tfnn.com, educating investors. Everything in the universe is governed by the Fibonacci sequence. This mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market. To stay on top of stock patterns you can take advantage of, sign up for the Fibonacci 24-7 Newsletter at tfnn.com. When you subscribe, you'll get a weekly report from Veteran Day Trader Larry Pezzavento on stocks you need to pay attention to and you can trust Larry's analysis. After all, he's got 45 years experience as a day trader. Larry will also provide daily charts, videos, and data on the key markets that he's tracking. Expect notifications from Larry on market movement you need to act on at any time. First-time subscribers also get a 30-day money back guarantee. If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up. Subscribe to the Fibonacci 24-7 Newsletter today. tfnn.com, educating investors. tfnn has launched the Tiger's Den, hosted at Discord. tfnn has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours. Available to all Tigers and Tigresses for just $1 for the year. There's no catch or added costs when you join our community of traders. Sign up today and become a part of this educational community of traders. Just visit the front page of tfnn.com. Catch Tom O'Brien, professional trader and educator, founder of TFNN. Also a special guest on CNBC. Tom will bisect and dissect the markets. The Tom O'Brien Show. Next, on TFNN. Building wealth trading in the stock market seems impossible to most traders.