 The following is a presentation of TFNN. Power Trading Hour with your host David White. Call now toll free at 1-877-927-6648 internationally at 727-445-1044. Now, David White. And welcome all to another exciting edition of the Power Trading Hour with me, your humble, lovable and squeeze-ly soft host who loves to come to you at this time. The following takes place between 2 p.m. and 3 p.m. Well, as we've said, the options have said somewhere around 2850 to 2870 on the S&P cash when they don't run away from them on one day and then come right back and ram them in as this kind of trading range. We're up 22 and a half points on the S&P cash up 162 on the Dow, the Nasdaq's up 96. Volume is light though and that tells us that probably not going to be a lot of push into this market today. As we start the show, we're only doing about 3.8 billion shares. And again, that's fairly light. Now, the only thing to counteract this medium or even a little bit more than a five minute chart is going to be seeing the whole market pull back on light volume next week and have that kind of light volume that says there aren't a lot of sellers left. Anybody that kind of thinking about selling does it next week, but there's not a lot of push down and that can burn off a great deal of overbought and oversold conditions. I continue to think that as we go into next week, of course the 23rd we've got the elections in the UK for their forward business with the Euro and the Eurozone and Brexit. And then of course we get into about 28th or 29th of the month we get back into fund buying. In the meantime, there were a lot of IPOs that look like maybe they would price out this week. I didn't see anything on Slack or a couple of the other big ones. Looks like maybe a billion, billion and a half from what I looked at this morning, which is still not good for a market that's kind of weak. But we may have seen the bottom of the selling for those IPOs this morning. I was looking at possibly picking up some options for Friday's expiration, but just as I was getting ready to start buying something, man, the market moved very quick on a tweet and that was all it took. Just one tweet, tweet, tweet, tweet. Anyway, the tweet about changing the time scale for car tariffs came out and we had our big bounce and didn't get in. And of course I was looking for a technical level, which I thought was going to come in about 10 or 15 minutes, but they got there just in the nick of time before I did. Don't see a lot setting up. There are some very interesting setups and stocks. I just sent something out to the path of least resistant subscribers with a ton of charts and on some of the stuff that is set up and making some fairly decent low volume tests of previous lows. We may have a chance to look at a few of those today on air. Other things going on, it's just options expiration. Again, I think they pushed it down real hard and they pushed it up real hard and it just looks like this 2850, 2870 continues to be where it continues to want to be pushed into. So we get into next week not a lot of reasons to push long or short. And again, probably if it's not going up, we're probably going to see some light selling. That sets up, especially in the next week from this Friday, a very nice opportunity to come back from a three day weekend into some fun buying. And that may start a lot of stocks that are moving in the, and across the summer may be the stocks that have been ignored before. And a change in and with more tariffs might push a lot of things around that probably weren't being pushed around when people didn't think that there was a chance that these tariffs would go very far. As I continue to think, we're not going to get anything done anytime real quick with the tariffs. And it will take some time to get them done. When they're done, it'll be well worth it. And in the meantime, there's probably some great opportunities in the market for doing things here in the United States. And again, a lot of these companies saw it coming. William Sonoma said that they moved a lot of things here from China. Just figuring this is the way it was going to go. Other companies were smart enough to Apple, although they yell and scream about it a lot, started moving production from their iPhones over to India, thinking that this would happen. So I think a lot of people, although some did not, I think a great deal of people kind of saw this coming. And if you can produce as cheap in India as you can in China, I don't want to go to India. We don't have a problem with them. And they're not hacking everything in the world and stealing our intellectual property and then acting like nothing happened. So I kind of think that long-term it's actually much better, even medium term probably, much better for the United States. And that is where I live. Anyway, give me a call today at 877-927-6648. You can always email me at path at tfnn.com. And of course, you always put something in the den, although it's kind of a quiet day out here, now that all the fireworks and sparklers have gone off. Okay, what do we got? We got a little history and then we'll get into some charts. And it's all just a little bit of history repeating. On this day in 1988, more than eight years after they intervened in Afghanistan to support the pro-communist government, Soviet troops began the withdrawal. The event marked the beginning of the end to a long and bloody and fruitless Soviet occupation of Afghanistan. And if it weren't for the work of one congressman from Texas, Charlie Wilson, they may have made it. He started a guerrilla war in Afghanistan and provided stinger missiles to shoot down the hind helicopters that were holding down most of the revolutionaries in the country. Anyway, he and a handful of other folks almost single-handedly brought the Soviet Union down to its knees in Afghanistan and certainly the amount of money that they were pouring in there all pretty much broke them. Some people think that this is history repeating all over again in Venezuela, where we haven't really jumped forward to start anything. But if they get in there, we're going to do the exact same thing to them, which is fund everything else and make them pay and pay and pay. It would probably be better for the Venezuelan people. They just overthrew the current government. But I think that's going to take a little bit more. It may drag on, but the Soviet Union, or at least Russia, now does not have the cash like they did in 1988 for a protracted issue. We'll be back in just a minute. The TAS 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 TAS Profile Scanner instantly scans and filters over 2,500 global financial markets, such as stocks, ETFs, commodity futures, and forex. Headed by Steve Dahl, president of TAS Market Profile, the TAS Profile Scanner understands that in today's technological world, the use of top-flight software applications, automated trading algorithms, and technical analysis expertise is essential to successful trading in today's market. Whether you're looking at the trade matrix, the ETF heat grid, the market breadth, the landscape charts, or the many other features of the TAS Profile Scanner, this is a piece of software that will revolutionize how you look at the markets and set up your trades. The team at TAS has even put together a 12-part video series to walk you through every aspect of the TAS Profile Scanner, which you can find directly on the TAS order page at TFNN.com. Sign up now for only $97 a month with a risk-free 30-day trial so you have nothing to lose and everything to gain. See for yourself how you can harness the full power of the TAS Profile Scanner by visiting the front page of TFNN.com today and you'll find the TAS Profile Scanner under the Services section. Remember, with a 30-day money-back guarantee, you have nothing to lose. Don't let another day pass you by without trying out this amazing piece of software that will revolutionize how you look at the market and how you place trades. Sign up today. Many of our new listeners have heard about The Tiger's Den. The Tiger's Den is a lively community where professional traders and investors can meet, exchange ideas and information in a comfortable moderated atmosphere. Hear all of the TFNN shows, plus see all of the charts as they happen live and have access to archives of all of those charts. You can test drive The Tiger's Den absolutely free for 30 days and greatly enrich your knowledge of these markets and how to make your money work for you. Details on The Tiger's Den are on the front page of TFNN.com. TFNN has launched our brand-new website. You can still visit us at the same TFNN.com URL, but when you do, you'll see a new and improved homepage with a much simpler navigation, whether you're watching Tiger TV live in high definition or just accessing your newsletter subscriptions. We even have new pricing in six months and yearly options. Check out the new TFNN.com now and experience all the upgrades. TFNN.com, educating investors. 8-7-3-7-6-1-8. And we're going to take a look at a few stocks. Mal Zuckerberg, CEO of Facebook, he got a figure that I think a lot of people were piling on short on this one, especially in the yesterday. Got a little bit bigger pop in that one. Over the overnight, we also got the new bi-monthly short numbers. And let me get this up here and see what they were. So I don't tell you wrong. Okay. Wrong ones there. Okay. The last one came in, not very much. I kind of like this. You're down to, well, you got, you gained a little on this down slope, which is one of the reasons I suspect we're getting kind of a bounce. But you've got a 20, I call it 21 and a half million shares short, which is kind of where this thing has been. It did have up to 35 million shares back at the beginning of the year. So the short interest kind of came off. That allowed the stock to kind of come back. You're kind of getting a little bit more in a bounce. Here's another one where I would like to see this kind of bounce up and move down. My guess is that the price destruction in Facebook though comes out of the blue when we see a justice department subpoena for them to issue a lot of papers on probably ongoing antitrust disputes. I think they have a fairly good case for them crushing snap to some extent and basically looting everybody else's ideas. More important, many of the Democrats on Capitol Hill have kind of shifted from looking at Facebook as a help to a hindrance. And you know, when you get people that eventually become powerful enough that come after you too, and I think a lot of those Congress people don't kind of like getting taken potshots every day from the Facebook crowds. They want to split it up. I think that had already been a thing for a year on the Republican side of the fence. So I think that there is a fairly decent appetite to blow this thing up. And the question is exactly how do they do it, but like I said, there's a handful of stocks out here that are in trouble. We talked I think very little about Apple the other day losing their Supreme Court bid. And that was on the App Store. The dirty little secret has been that programmers and if you're not a big company, you never really made any money. And a handful of people did. But the amount of apps that actually broke even after the 2.5 million apps for iPhones, the 100,000 people that actually broke even on it and probably more like 50,000 people that actually or companies that actually made money on it was that they continued to siphon off 30% of everything that was made and to give back to Apple. Now, that's the when you get the Supreme Court to say, go ahead, there's generally a likelihood that you will prevail. That is kind of the nod from up above. Now, things can happen in the lower courts and it'll probably take a little while to get through. But generally when you get a nod up at the very top, everybody knows which way this is going to go. Maybe they'll make a deal with the government. But I think you got a pretty good prima facie case against Apple, so they'll have to do something. We've seen this before with Amazon trying to fix the price of books. Oh, what was it about eBooks? It was about 2011 or 2012. I think that's all came out. A lot of these guys have a multitude of sins where they were just trying to get by. And of course, they blamed it on the old honest mistake. Well, I didn't know or no one really came or a lot of people came and went. The old honest mistake only works for so long. And I think Apple, a pretty good indication that the walled garden won't run for that long. Google also has problems, but they are a lot more about Europe that I think than the United States. You got a big bounce out of this one too today. And then we got what, about a $40 range on it. And again, you already got down on this on earnings. They're going to continue to have significant problems in the rest of the world as two things. One, their sins come back to haunt them. And two, now that they're not looked at is some kind of deity and more like a piggy bank, more people will find them as an ongoing concern. About $30 billion in the last year and fines, eventually a billion here and a billion there, eventually talking real money. You can give me a call at 877-927-6648. One of the reasons why I suspect that we will have a great deal more in the way of stocks and people selling the fang and around the fang stocks at least across the summer and start seeing a lot more action in stocks that are probably a little less well-known and maybe even the biotechs getting hammered enough that they may even be a buy. Eventually you revert to the mean and the mean has been incredible over the last 30 years of biotechs. It also is extremely volatile. But not a bad-looking position out here. You have a double gap that goes back to the 7th of January. You went through that a couple of days ago, yesterday, a little lighter volume. Today also the same thing. So you got fairly decent risk rewarded in the IBB now. But again, I think we could do nothing for a handful of days, light volumes into next week, and then get ready for a fairly decent bull run across the summer. You ve got, I think it s the 29th and 30th. Let s look at during the break of President Xi Zung meeting with President Trump very late at that G20 meeting, which I think is the 29th and 30th. They both decided to go, which tells you that they re probably going to have discussions there. I don t think that it is going to end up with anything signed, but we might have a little bit of a detente, and the market may start looking forward toward that. Tutu-tu, what else do we have? We ve got some emails here. Let s take a look. Skyworks Solutions, SWAS, as a possible short. I don t know. It looks to me like a possible long. We ve got a little bit of a gap up on almost 9 million shares. On February 6th, we got into 3 million shares a couple days ago, and kind of back into this trading range today, not a lot of volume. You may need a little bit more consolidation, but I don t see the volume below the bottom yet. We ll be back in a minute. The path of least resistance is David White s daily trading newsletter, and if you re looking for active trading ideas, then now s a perfect time for a 30-day free trial to this powerful daily trading advisory service. David uses his years of trading experience to offer his subscribers his trading ideas each morning in his path of least resistance newsletter. Using a combination of equity trades along with options, David keeps his subscribers up to date with all pertinent market information with intraday afternoon updates when warranted. Don t miss out on this great chance to get a 30-day free trial to David s daily newsletter, the path of least resistance, with no obligation to pay anything. David has been delivering solid recommendations for his subscribers recently, and if you d like to see the type of newsletter he delivers every morning, then visit the front page of TFNN, and you ll find the path of least resistance under Trading Newsletters. For all the details, and to start your 30-day free trial today, log on to TFNN.com now. For my daily newsletter, Market Insights, then now is a great time to sign up for a 30-day free trial. Every morning by 9.30 I send out my morning letter to subscribers with market commentary on a variety of markets, currencies, and commodities to keep investors up to date on the day s trading action. Included in Market Insights are specific buy and sell recommendations for stocks, ETFs, and even options, which stops and price targets included for every trade in my newsletter. If you d like to try my newsletter at risk-free for 30 days, then head over to the front page of TFNN and you ll find Market Insights under Trading Newsletters. I use my years of trading experience to bisect and dissect the market every morning and give my subscribers the most important information they need to know for the day ahead. I even issue afternoon updates for my subscribers whenever warranted with important market action. I m always scouring the market for the next great trading opportunity. Sign up for your 30-day free trial to my daily newsletter Market Insights today by visiting the front page of TFNN.com. TFNN is excited about our new software charting program, The Art of Timing the Trade Charts. In collaboration with Tom O'Brien and using his best-selling book, The Art of Timing the Trade, Your Ultimate Trading Mastery System, David White has programmed an outstanding piece of software that will complement any trader s methodology. Using this first-of-its-kind program, The Art of Timing the Trade Charts allows you to scan thousands of stocks for Fibonacci formation setups, 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 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. And we're back. Still looking at Skyworks Solutions. I mean, you got a fairly nice bounce off a 9 million share low with 3 million shares, so I don't see a lot. Now, you came down on heavier volume, which a lot of these stocks did, which means that you probably need some level of consolidation. That's where I think that maybe the next week, if these things don't try to take off instantly but kind of quiet down here, see some sideways action on the light volume, then the risk reward is going to be a lot better when we get into fund buying at the end of the month. Not everything is an instant v-bottom. I know how a lot of people want to think about that. A lot of these stocks are pretty and super washed out. A lot of these things are way off the highs. Restoration hardware is kind of one. You got 350,000 shares today on a little doji compared to 13.3 million shares back on the 29th of March. So, to me, I just don't see a compelling issue to start swinging away at lows here. I don't think that the bottom is going to break out. If it is, it's going to be next month. We've already taken kind of a big hit. And if you start seeing heavier volume to the downside, that's one thing. But I think most of the action is over for the downside. We can start actually thinking, not acting on longer or medium term or even for me, a couple of week long positions coming at the end of the month. I don't know if we want to be long going into the G20 meeting, but that could be it. And again, we come back on, what is it, Monday or Tuesday? What is it? It's next Thursday. And on next Thursday, we have the UK vote for their Euro stuff. It looks like there's going to be some turmoil there. Maybe that's enough to kind of get everybody to just kind of sit back and watch what happens. And maybe that's what we need to make a tradeable low out into the last week of the month. I'm not real bearish here. I'm not real bullish either as we look at the next week. But if, I mean, pretty much since the last week of April, everything is kind of unfolded exactly as the market had been predicting it. We didn't get a lot of other things that I wasn't looking for or didn't seem to be rather apparent. We were looking for the market to sell off into those IPOs and suck a lot of oxygen out of the room. Maybe we still get a little bit of that next week. We'll have to see whether or not slack in some of the other ones. But certainly what was going to be about $8 billion being sucked out this week has turned to about $2 billion, which is much better, at least for the market. So we may continue to see a lot of these IPOs drop out as badly as Lyft and Uber has done. Give me call 877-927-6648. Email me at path at tfnn.com and I look forward to your phone calls today as it is rather quiet as most of the action already happened. What else do we have going on? After the bell tonight, we've got Cisco. So we'll take a quick look at that. Kind of tough to actually see if anything's going on it. Of course, it has sold back off a little bit of pop up into this gap down that basically was driven by China news. That was back on the 13th. So you get down volume did increase slightly. You got up to $57.53, which is the April 16th eye and you're back here. But again, I think a lot of these international companies like Cisco and Intel they've had some destruction in them. And again, I think you want to see them going sideways. Now Cisco will probably have to spout what the earnings are, but the question is, is anybody going to be able to actually come in and compete with them other than a Chinese router, which you know is probably infected worse than insert your joke there. But I continue to see it kind of flat out here. But maybe a little higher in Cisco I think a lot of people kind of dour but you know depends a lot what they're going to say to but again they weren't selling a lot of routers to China already. So I don't know if that's going to matter that much at all. In fact, a lot of people might start thinking about who they'd rather have hacking them the United States or China and you never know. To what else? Okay, got a quick question about Microsoft. Again, everybody probably wanting to flood into these well-known stocks as soon as the a little bit attention was taken off the market. To today and not since Snowden now did Cisco back in 2014. Hard to hack a rotary phone. I don't know. Yeah. I had a little Radio Shack thing at the time a little hand dialer you could just hold up and of course in the late 70s the thing to have was go in there and add a couple of components they could apart and it would make a couple of the tones that sound like quarters. You could just hit the thing and you never really needed to carry any more quarters with you and get free phone calls. I remember that was a big deal from that Radio Shack thing. But I think it was about 83 or 85. They updated the systems around where I lived and no longer worked. In fact, one of the interesting stories of Apple is how they funded themselves and these things were called blue boxes. I think they were called blue boxes or red boxes at the time to give you free phone calls on pay phones. But if you ever wondered how Apple got started and got the money the engineer with Steve or Steve Wozniak was making these boxes for the mob and selling them for a couple hundred bucks cost them about 25 bucks to make and that's how they got all the basic money at least that's how the story goes for funding Apple and building those first PCB boards. Cheat the phone system. Yeah, mob bell was an easy target back then but that's it. Okay, what else do we have? ADM supermarket to the world. A few things out here that are looking interesting to me and that is I still everybody yelling about farmers I still wonder where people are going to get their food from because was there going to be a bunch of other people farming that I didn't know about that suddenly could open up massive amounts of food didn't all this stuff just fungible didn't everybody just going to sell it to Vietnam and Vietnam's going to actually move it up to China maybe there's a little hit on price but I not like there's all this food just kind of lying around so all the stuff that we'd sell to China I think it's just going to go through another country and avoid at least some or most of the tariffs we'll talk about Bitcoin I've got a question for that when we come back 877-927-6648 2018 set up tax free zones across the country where you can build and hold for 10 years and pay no tax on the profits which makes these lots valuable the investment is anywhere from 30,000 to 75,000 the interest paid is 7% yearly paid on a monthly basis according to bankrate.com the best rate for a four year CD in the country as of February 20th is 3.1% a $50,000 investment at a normal four year CD rate of 3.1% would give you income of $1,550 per year or $6,200 over the four year period that same $50,000 investment in the target first mortgage program would give you $3,500 per year or $14,000 over the four years what should you prefer? $6,200 or $14,000 of interest on your investment if you'd like more information about the target first mortgage program you can call me at 877-518-9190 that's 877-518-9190 if you haven't checked out the newsletters page of TFNN.com what are you waiting for? 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 newsletters to fit your needs exclusively from TFNN stay informed each day you trade and get the 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 are China A shares hot or not? if you trade China A shares now may be time to take a closer look trade CHAU or CHAD directions daily CSI 300 China A share bull and bear ETFs China A shares in either direction visit directioninvestments.com today an investor should consider the investment objectives, risks, charges and expenses of the direction shares carefully before investing the prospectus and summary prospectus contain this and other information about direction shares to obtain a prospectus or summary prospectus the prospectus or summary prospectus should be read carefully before investing an investment in the funds is subject to risk including the possible loss of principal the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor four side fund services LLC don't forget you can listen to TFNN live on your mobile device 24 hours per day go to TFNN.com then hit watch Tiger TV that's TFNN.com then hit watch Tiger TV for the latest market information and we are back as we will bring this up from time to time for the next week and that is that we've got the Memorial Day Tiger sale started right now spend $500 get $600 Tiger 20% bonus spend a thousand get $1300 Tiger which is a 30% bonus or spend $1500 get $2100 Tiger that a 40% bonus and of course that goes on through to next weekend if you're also interested and haven't looked at the art of timing trade charts we've got a great deal for you there too on the front page of TFNN some nice specials on the pricing for the charts which I use every day and also Tom's book come along with it which is a great amalgam of all the great trading ideas kind of use a universal field theory of all the stuff so we've got that to do too so take a look at those on the front page of TFNN and of course as it's quiet always a good time to go check out the front page of TFNN and get those Tiger dollars we head into these long three day weekends which tend to be somewhat quiet in the meantime call me at 877-927-6648 had a little question about what goes on after you have the double repo pattern the double repo pattern is much like a three gap play and that is the target is right where you started off for in the three gap play so we kind of had it in the in the conclusion I mean the what would you say the the just trying to come up with the right word confirmation I want to say that the confirmation was on the NASDAQ was on the 7th when it closed back below you had two days where it tried to push back above and the next day you closed back lower and of course all the destruction happened over those next five trading days but the first day that it closes over the three by three is where this pattern starts and of course two days ago we already got into that low next day closed above it pushed down again into that same area and we're first out of it now the downside is where the I don't know if it's the downside the interesting thing is that that continuation line from the downside also puts the pressure on this market so over the next three days we should continue to see at least the NASDAQ kind of come out here at about let's call it 7750 7775 we're probably going to be looking at that as an ongoing trend I do not expect to blow through anything more than we probably have today tomorrow we might get if people I'll look at the short numbers tonight my guess is that we probably had a bunch of people piling in at the very lows in short positions and that got blown apart this morning with a fairly decent reversal now what we don't have is volume as we said earlier in the show a couple things going on but one of them is incredibly light volume 4.2 billion shares already when we had 8.5 billion shares on the downside so we're kind of about halfway volume mark with an hour and 15 minutes left to go again Cisco out after the bell my guess is that it's maybe up a buck or down 50 cents I don't see a great deal of movement in Cisco maybe they'll surprise us but I don't think that there was much when I looked in the options I don't think that there's much when I look stock and I could see you know a fairly benign reception to them in that and of course then we get into Friday or I mean Thursday before the bell where we might have a little bit more going on that is Walmart and you know as far as things going on they've done okay it's not they haven't been blown apart or anything still holding a hundred bucks fairly decently I don't know if there's a great deal to pick up from them I can tell you from being in the stores that they've cut back the amount of people and the lines are significant in the checkout lines so I don't know if they're trying to force more people over into the automatic what do you call it automatic cashiers automatic tellers I guess the automatic sales line and even those are ridiculously long lines so I think that they've at least from what I can tell cut back as best they could on labor costs especially making customers wait a lot I don't know if that's going to bother a lot of people just yet if it continues on I think it will because I heard a lot of people grumbling in line over myself basically but more people but I always have a way of getting out and that's going to the and checking out over in the lawn and garden department where there's not the line never seems to be that long but you have to kind of walk halfway across the store but still a great strategy for getting through it did we talk about ADM I can't remember now I don't think we did would again like to see a lot of these stocks they tested their previous low on lighter volume we've got a couple side days I think we did talk about them to another one American super semiconductor closing back the day back into the trading range I suspect what you need is a close above $11.40 right now we're at $11.30 so you need about a dime by the end of the day to be back in the trading range or maybe tomorrow so we may have seen the worst in the short run for the semis I could continue to think though that we could see very light volume and kind of just trickle out into next week with slightly lower prices each day with a little bit of momentum but again I'm kind of hoping that sets up some tremendous buys where we get rid of this overbought and oversold conditions and the market can get back into a trend to do what else do we have okay what's the that's the name of the stock what do we've got for that okay after the bell tomorrow night that would probably be enough to put some stuff on the SMH you're down to about 160 you saw some nice stuff a lot of people piling on NVIDIA in the recent days let's take a look at that one NVIDIA it's not as bad as you would think the last couple of days we've got two looks like about 14.2 million shares short which is just a little bit more than the previous reporting period but way off the one of the end of March where you had about 20 million shares so you're down about 6 million shares in shorts and that's kind of like I'm saying that happened about where the top was generally the tops come in when the shorts give up I know we've got a lot of people getting ready to pile back on generally where you find a case load we'll be back in a minute check out those tiger dollars and 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 bottom page of 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 too sign up today David White's newsletter The Technology Insider is focused like a laser on finding the next big things in technology if you had invested only $10,000 in Microsoft in 1986 you'd have been a millionaire by 2000 disruptive technology like Microsoft the key to these massive long-term profits and the tech insider is the vehicle from TFNN to capitalize on these opportunities this is the go-to newsletter that identifies, monitors and profits on mostly little known cutting-edge companies with great long-term prospects David's experience is as an inventor of Emmy-winning animation products for TV and Hollywood that propelled a company public match that with 14 years as a full-time trader and he's uniquely qualified to guide you to the world of ever-evolving high-tech if you're ready to ride the next big technology full market for less than $40 per month, log on to TFNN dot com and get your 2-week free trial to the technology insider get in on the ground floor of the next big thing today since 1984 Basil 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 and the 1980s Basil noticed that prices under most circumstances virtually always had a certain number of legs to the upside before declining sharply. Later Basil found the computer software which included the standard market technical indicators enhance 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 Basil Chapman advises his subscribers of his expert opinion each market day with his opening call newsletter. Right now you can get a 2-week free trial to the opening call Basil's daily trading newsletter by visiting the front page of TFNN dot com cancel at any time during that trial and pay absolutely nothing get your 2-week free trial to Basil's newsletter the opening call today by visiting TFNN dot com Tom O'Brien show next on TFNN and we're back. Had a good question during the break come in which is why do I spend so much time on days to cover for shorts and don't spend a lot on the percentages when percentages are high that's good to know but the float the outstanding float numbers tend to be fairly off almost all the time you can get kind of a decent idea but if the stocks kind of active and there's a lot of people shorting it like Facebook Netflix or all the other where we go that number tends to be horribly off and you look at three different sites and you get three different numbers what's fairly easy not to lie about is what the average volume's been like for the last 30 or 60 or 90 days and how many shares are short we know those things are pretty much accurate so days to cover is just dividing the average volume of the last 30 days over how many shorts are out in case everybody decided to leave it once how narrow would those exits be when someone cried fire in a crowded theater and that's probably the best way to look at it short interest itself doesn't automatically mean that you're going to have and see a bottle rocket when a low comes in especially if the stock's been really hammered it takes a while for it to come back even with high short levels of interest but days to cover almost always a much better metric to go for stocks that are incredibly short and that reason is you can't really trust the float numbers for these stocks they're all over the place and I don't know if people have an economy with the truth about them but they seem to be rather wild in the meantime sell what you can not when you have to ever when you can not when you have to and we will see you here tomorrow same bat channel, same bat time Tiger dollars on the front page of TFNN