 a presentation of TFNN. The Tom O'Brien Show is produced every business day. Tom takes your phone calls toll-free at 1-877-927-6648 internationally at 727-873-7618. Let's get a mic in Southern California. Hey, Mike, what's going on? Hey, Tom, nice to talk to you again. And I have to start out and first tell you, I love this trading room. This thing is great. This app works great. And getting all the information, you're like instantly there. No delay, nothing. I know, listen, I appreciate you growling proud with us. Your channel is in my pocket all day long. It's wonderful. Thank you, man. Thank you. Now, Tom O'Brien. Folks, this is Tom O'Brien of TFNN. We go five days a week. We go seven hours a day. We go 24 hours a day on the internet at TFNN.com. Always remember, folks, whatever you think about, what you bring about, whatever you focus on grows. Hope everyone's having a great day, safe day. Let's make that great week, folks. Be impeccable with your word. Release the need to be right. When you believe something, you assume you are right. You may even destroy relationships and not defend your position. Let go of the need to defend your position. Mock it wise. Let's take a look at it out here. We have the now industrial's down 105. NASDAQ is up 59. S&P's a flat. Gold. Gold contract. Trading up $13.90 at $19.77 an ounce. You have silver down 8 cents, $23.27 an ounce. Light sweet crude down 3 bucks. $69.71 a barrel. Notes and bonds. A 10-year note. Up 25 ticks, trading 1.1306, the 30-year bond. Up a full point plus 19 ticks at 1.2707 and King Gala. King Gala right now trading down 64 ticks. 104.142. The year is at 107. The yen is at 139. The British pound is at 123 to one US dollar. Our phone number is 877-927-6648. Give us a call, folks. One note's going on in your world. In the world of the S&Ps, let's take a look at them. What do you have? Well, we get a flat market out here. You had a market go top side last week. Bottom line, if we take a look at the cash, you're over the cash. You know, bottom line that's in. The next swing point is where this baby wants to go. And they have window dressing, too. So it shouldn't be that hard to get up in this particular case for the spy to get up into this four, well, it's 11 points. 431. That's your next level up here. We're going to take a look at the NDX100, the three Qs, and that one there. Right now, you don't have the volume out here today, but that's not a big deal after the case of what we had last week, OK? Because last week, the daily, the weekly, it doesn't matter which one you put it on, it blew that swing point away. So your next swing up here is up at the 371. And right now, you're at 350. So it's going to be like, OK, what's the next big thing coming down? Well, we'll see how window dressing goes, because what happens is that we are right at, yeah. I mean, it's going to be in full force tomorrow, man. So we'll see how this whole thing shakes out. But it's going to be full force tomorrow. Gold. Gold contract out here, that basically has too much volume at its lows. We hit a low today. You get 252,000 contracts. It's too much volume at the low. I still confirmed ABC structured out in 1902. And we go into notes and bonds, and it looks like notes and bonds. Let's see how we did this. I believe we have rejected this lower price. Let's see how we did. So we rejected lower price. Now, this is how you want to rejection. Look at this, folks. You rejected lower price, and we haven't even done a million contracts. And we're coming into, I believe, 3 million contracts in the 10 year. That's how dramatic this is. We got to 1,1203. 1,1120 was the number. So it didn't even get down to that. If we just even take Fridays, yeah, I rejected the lower price. Now we're going to see what kind of a bounce we get. The first bounce probably, a dead cat can still get you to 1,1408. And we'll see whether it has more juice than that. Let me just put this up here for a second. Yeah, the 1,14, so the 1,14 is your 0.382. We go to the dollar bottom line once higher price. We made a high out here today at 1,04535, a low of 1,03879, and you're right in the middle of that deal. But that's a positive sign that this thing continues to want higher price. We take a look at some of the higher volume equities. There's going to be a low volume market out here today. Well, let's go to Nvidia first, because Nvidia is a trillion dollar stock right now. I believe the ABC structure of Nvidia is 444 and hit 420 already. So we'll see how the rest of this shakes out. Now, what's interesting is that, see how you get two gaps like this? Well, if this is going to be a three gap play, we just might get one more gap. But if that's what you get, then this is going to get really intriguing because so where three gap play works is this, folks. If in fact we get a three gap play, you'll get one more gap, that'll be an exhaustion gap. You come down and fill the gaps, but you've got to remember something. Where the gaps start, that's where it will basically take off again. So for all of us, if that's what we get, that'll be a pretty cool deal because you get a blow away gap, then you start filling the gaps and then bottom line to take off once again. Pretty intense, man. There's no doubt about that. We're going to take a look at some of the higher volume equities today and this will be a low volume. Oh no, let's go to the oil market first, one second. We bring up the oil contract. So oil out here, this has been a highly volatile move in the way down. Yeah, couldn't handle it. This thing's going right back down to the lows. And if we take a look at CO1, I put the generic contract up, let's see. Yeah, you're building a building cause to break a big consolidation because if we break this consolidation, if we break the 67 mark, each time we've been down there, we get down to the 63 mark four weeks ago, six weeks ago, you get down to the 64 mark. In both cases though, you're only there for a very short time. That level there gets broken and then oil's going to be in the farted dollar level. So not quite sure what's going to send it down to the farted dollar levels, but outside of selling. But that's how that baby is set up right now. We go take a look at a couple of the other big dogs out here, let's go take a look at Apple. Apple right now, that's not Apple. Apple's set up, Apple hit 178.99 today. Right now we're trading 171.44, Amazon. Look at that, that's high volume high, it wanted it man, it took it, blew it away. 114, we're at 121. Oh, look at this, it's got an ABC up on Amazon. This is an ABC up, B118, this is a good one too. 17 bucks, 27. What is that? 30, yeah, 130. Yeah, 121. Stay right there folks, come right back. Apple number's 877, 9276648, Dow. Dow's down at 109, that is except 52, S&P's down at one, come right back. Currencies, commodities and bond markets are as important as ever right now with how they're driving the volatility in equity markets across the globe, which is why it's a great time to try out Teddy Kegstad's Tiger Forex report. Teddy Kegstad breaks down the forex markets every Monday using his 30 plus years of experience as a trading veteran of futures, forex, stocks and options. Teddy releases his weekly Tiger Forex report every Monday morning with coverage of all the major currency pairs, including the dollar index, the Euro dollar, pound dollar, dollar Swiss, dollar yen, as well as many more. And he also has weekly coverage of the crude oil market and the 30 year T bonds as they both influence forex markets tremendously. When you sign up for the Tiger Forex report you also gain instant access to Teddy's 60 minute webinar archive. He just hosted forex strategies and fundamentals. What is behind the Tiger Forex report? For all the details and to start your 30 day Tiger Forex report subscription today, visit the front page of TFNN.com. TFNN educating investors. Are you looking for a way to consistently add winning trades to your portfolio? Tom O'Brien is here to help. Tom O'Brien has been successfully trading markets for over 30 years. A frequent contributor to TD Ameritrade Network and CNBC, Tom O'Brien founded TFNN over 20 years ago to help educate investors just like you. Tom's Daily Market Newsletter, Market Insights is published every morning when the markets open 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. 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. Three at 1-877-927-6648 internationally at 727-873-7618. Welcome back folks to Dow. Dow Industries right now down 90 at the Nasdaq up 53, S&P's the flat. Let's get over to our man Mr. Basil Chapman as we do each and every Tuesday at 20 past the hour. And don't forget folks Basil does an outstanding show here every trading day, 10 to 11 Eastern standard time. Also has a great newsletter, the opening call. Now it's very easy to get the opening call folks. Come over to our website at TFNN. You go right on the newsletters you're gonna see it on the left hand side. You just hit that subscribe button. You can get it for one month for $149. Get it for six months for $695 which is a savings of $199 at 22% and one full year for $1195 which is a savings of $593 or 33%. Now they all come with a 30 day money back guarantee. Basil has about 10 great archives on the site. So as soon as you get it you not only get a great newsletter every day you're gonna get those archives. You can go over them as many times you like to really understand how Basil looks at that market each and every day. Basil Chapman, how you doing? I'm doing well Tom, how are you? Great, great. When's that weather gonna come in for you up in Boston? Oh it's coming in right now. Is it beautiful? Fantastic weekend and today's good. Going to tennis after this and I'm looking forward to outdoors should be great. Yeah I was watching those tennis masters yesterday man. One of them the first one I think they were playing in Spain lasted five and a half hours. I don't even know how someone could I mean that five and a half hour tennis match is pretty intense man. Do you remember there was one at Wimbledon where Eisen was at Eisen these tall guys they were six foot something and they went on for 12 hours they went on through the almost through the night and they had to pick it up the next day. I do remember that. Unbelievable. That is unbelievable. That is stamina for that and they're not just hitting the ball down. Thank you. Seriously. Yeah I know. Big time. So I thought I'd do this I wanted to show you something you know in a Chapman way we're always looking for the first the most identifiable low bar and then we count four successively P speak A then the next one is B the next one is C. Yes. D and the fourth highest P speak D is where other things can happen. Well on Friday the spy fractionally went to a leg D and the S and P failed so I thought that means you've just got enough room. Let's see what happens on Tuesday. Well look at this today we went to that leg D in the in the dating chart a very quick yeah and then and then pulled back last week and a leg E today in the weekly chart. So that's a very interesting and a couple of other things I wanted to point out was in the context of I mentioned this before we have a stock it's called Symbodic it's in the end to end AI robotic warehouse automation systems and we've been in since about 24 it's hitting 36 right now but what I wanted to explain in a chapter we methodology years ago I discovered there's a pattern that people talk about a lot and investors business that he talks this is one of the key metrics that they use for technical indicators the cup and the handle. Yes. I've never particularly liked it unless you get it exactly right because what happened is the handle the price goes above and then it comes back into the handle what I've loved is a technique that I discovered years ago called having wave cup and ladle you know how the ladle goes straight from the right side. Yes. Arch and it goes straight up. Well what I've shown subscribers is that we have broken out from the 3217 high on the 17th of April pull back quite sharply and that if in this cup formation if there is a very quick break from a peak B going to a C and it goes above the left side high that says not only would you go to a C but you should still go to a D. It's a very powerful tool and it's a very powerful pattern it's very different to the cup and ladle to the cup and handle this is the cup and ladle and look what happened we spiraled in this vertical move up to leg D. Yes there's a little doji candle I'm getting a little cautious on balance volumes overboard but the stochastic is flat at 95% and the magnate is still expanding so this is still showing some internal power so I just thought I showed this particular pattern because it doesn't happen all the time but when it happens it can give you a really good benchmark because it says then that left side high that you're looking at in this case a 3217 that peak D that can become a very powerful support level on any pullback so I thought I'd show that particular technique and then the same chart I mentioned that the price time match that I always talk about which is the symmetry of the number of bars on the left side to the number of bars on the right side in the weekly chart 2848 was the height of the week of the 24th of June and it broke out of that one week early in the time price match and there's a technique that I use called the Chapman inside wedge target resistance line and it went right to it a couple of weeks to go pull back and now we've gone above it so here again you've got a 34 support on the shorter term so I thought I'd just show some of those techniques and then another one that we had in the AI space and as you know from NVIDIA that AI has really come alive over the last two, three weeks this is the global extra robotics and artificial intelligence ETF so we've been long for a while and we watched it go up to peak E and pull back it's pretty much the same kind of design and then it broke out to the upside and now it's in a very extended leg G-C and it's got two gaps just like you were discussing a moment ago with NVIDIA there are a lot of these charts on any visual basis you would say that we are getting really close to some kind of top but I was discussing this in my show this morning and I'll show you here's NVIDIA and NVIDIA I drew this rectangle in to say that the peak and trough of the candle that broke out of the gap to the upside is going to be very important because if we close with two out of three sessions above the high that was made a 394.80, I think that's what, yes three, three, sorry, that was wrong bar yes, 394.80 two out of three sessions that's going to be a very good action and the other thing that I wanted to look at was the weekly chart also had this left side, right side, price, time match and that's the chart in the middle and what's really important about this is that you've extended from 293 all the way to today's high of 400 I remember you talking about this just before the earnings announcement oh my god, I think I've got a you've got an A to B equals C to D yeah, it was an ABC up to 440, right, exactly yeah, it was amazing, yeah and within hours it spirals up to that level hey, so Basil, Basil, tell us about I know you, because I want to get you some business here you're going to be teaching at MIT, right? no, I'm going to be giving every year once or twice a year I give a talk to the Boston Investors Group right so I'm giving one tomorrow and it's online it's free and all you have to do is go to Boston Investors Group Meetup and it'll take you there and then you can just, I don't know whether you sign in or what but you should be very easy able to get to it it's at seven o'clock tomorrow Wednesday okay and it'll go for about two hours I used to go for about two hours and I did a webinar a couple of weeks ago so I'll be doing some of that and it's really looking at the next three months what's working, what's not working I'm even getting a couple of little indicators here that say there's a possibility that's fine as a financial support group Basil, when they go online do they search Boston Investors Group Meetup Boston Investors Group Meetup okay, awesome what you have to do and it'll be right there folks, get over there you're going to enjoy this thing and now it's online so hey, right across the country right across the world, you can check it out Basil, you have a great one, safe one we look for the show tomorrow we look for the webinar tomorrow night at seven o'clock thank you stay right there folks, we're coming right back 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 in technical market analysis and it's not just dry tedious text either TFNN airs live financial content streamed live on TFNN.com and TFNN's YouTube channel with Tiger TV live every market day from 8.30 a.m. to 4.00 p.m. Eastern for free each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world from the moment the market opens until the closing bell sounds Tiger TV has 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 TFNN has just launched their new trading room 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 and now they are expanding their reach with the Tiger's Den available to all Tigers and Tigris' for just $1 for the year there's no cash or added costs when you join our community of traders in the Tiger's Den you can look over the shoulders of Tom O'Brien and the other TFNN hosts while they analyze charts during their live Tiger TV programs and join an interactive trading community with hundreds of members exchanging ideas interact with other Tigers and Tigris' as they share trading ideas, news analysis and discuss the market action all trading day even at night and on the weekends the Tiger's Den at Discord is accessible on mobile or tablets as well so it's always at your reach to sign up today and become a part of this educational community of traders just visit the front page of 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 welcome back folks, down industrial is right now, down 63, Nasdaq's up 62, S&P's up 3 so chat GBT folks, okay there was a great article, I think this is in the yeah, it was in the Wall Street Journal maybe, sorry, but this is what it's about listen to this, this is pretty cool if you've been playing with this, right there's, I was talking about before that prompting is where it's at but listen to how this works, it's prompting but these are two of the biggest prompts that will get you information that is much much better than just asking a question what you do is this before the question you say act as if so let's picture that if you're asking a if you're asking, let's just say you're asking a banking question, right what you would do is you'd say at the beginning of it you'd say act as if you are you know you could put Jamie Diamond, you could put a big banker and then ask the question if you're asking about you know how to get in shape act as if you're Michael Jordan, what do you do okay now check this out so that is going to give you the answer then the second one goes like this what else do you need to expand on what I'm asking okay now something that I didn't know also is this so those two are big ones to basically get the artificial intelligence going now what I've been doing is that I then you know I'm just throwing questions out there and I was erasing them well you don't want to erase them if you are actually trying to build out a model of something that let's say you're trying to build a business you know you want more sales you want to figure out how you could do something better don't erase what's on your lineage because the lineage the chat GBT is also looking at your lineage which I didn't know when you're pushing this stuff forward so it's pretty cool you're going to see a huge difference if you've been playing with this in the context of where it can bring you and and how much more in depth you can actually get some of those answers out there so a little bit of artificial intelligence which is going to be the things you can do with it folks already are like crazy whether they really are and you gotta remember something though the bottom line is that it will that this is the easiest way to look at it about how it can throw out garbage everything that it's getting it's getting off the internet so that's why the bottom line is it can throw some things out that have nothing to do with that that's all garbage hopefully most of the you know is common sense in our own aspect that you'll understand that okay you know this is this is a situation where it's all BS so we go from there to the um the death ceiling right so this is going to get so intriguing now because now the deal is going to be all about whether a few republicans are going to try to throw McCarthy out so this is my take on how this thing you know I said of course we had a long weekend Tommy the little Tommy grants that were all over the house having a good time so picture that one of the deals that speaker McCarthy made was that one person can basically start the formal process to remove the speaker well right before I get on the air bottom line representative Dan Bishop from North Carolina said he's going to start the process so when I was thinking about the so even over the weekend what was happening I suspect more than likely that probably came up in the negotiations also and I might have said it last week and I suspect what's also part of that negotiation is that if that's exactly what's going to happen here maybe some of the democrats are going to say okay we'll vote for you know you know because he's going to need democrat votes we'll see where it shakes out but it's it's going to be pretty wild um because it's it is so close that you know this guy had 11 guys behind him when he just did it and he literally just did it um and he's claiming he just told reporters the motion to vacate has to be done you know we'll see we'll see where the whole thing's shaking out but bottom of bottom line is that I don't think that's going to end up stopping the deal to get done and we'll see whether there was a negotiation inside that negotiation in order to make sure that McCarthy stays the speaker I suspect there was because that's like kind of one person well that's easy they always even know if you if you've never been in Florida Matt Gates is perfect for that I mean they get a bunch of them but anyway you get the gist of it so we have window dressing that starts tomorrow you get a market that's still at highs we know that there's no doubt that it's the aspect of the the texts that have pushed it and we'll see how much more they can push it you know this oil thing is intriguing today because you know it's been at a downtrend for quite some time the XLE wants to hit this high volume low it's laying out here and when I bring up you know the XLE is not in bad shape I mean this is pulling back with life volume so I don't see the XLE in bad shape I'm trying to figure out why the actual contract though a three dollar hits a monster hit man there's there's no two ways about that that that is a big hit man you know it does have the high volume low the last time that it was there that has volume you know this baby here you can see the volume is big down here we were banging out 412,000 contracts today you're going down with 414,000 if you bring this back a little you don't have to bring a much you know last time I mean we're coming to the bottom of this consolidation and you know you break this so the level about 61 you know you break a 61 and guess what you are you are going to have some heavy down draft out here inside the oil business maybe maybe they'll find a whole bunch of new oil or something meaning that used to happen quite a bit you know folks okay they did have a big oil find and then all of a sudden they're the price would be down because they thought there was so much one of the biggest scandals of course was the the amount of oil that supposedly was in Brazil Petrobras off the coast and you know that's still there's still not much to it you know that's the bottom line and then we go over to this is like pretty wild I mean you talk about the commodity business that pot business man forget it man evidently you know you got canopy trade is 84 cents 84 cents yeah so I think um I think they bought it I think Consonant so Consonant Consonant Constellation brands bought it at 20 cent 20 dollars 84 cents it's not much here nothing's here don't buy it don't buy it even at 84 cents stay right there folks come right back if you're looking for potential trading setups in the stock market then rocket equities and options report is a newsletter you should try Tommy O'Brien delivers options and equity trades when the markets present them using a combination of fundamentals and technicals sign up for rocket equities and options report today with a 30 day money back guarantee so you have nothing to risk for all the details and to start your subscription today visit the front page of TFNN.com TFNN educating investors 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 biotech is booming but for how long whether you think the biotech bull has room to run or has run its course trade labu or labd directions daily s and p biotech three times bull and bear ETFs visit direction investments dot com slash biotech 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 please contact direction shares at 866-476-7523 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 for side fund services LLC 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 the tiger's den available to all tigers and tiger's for just one dollar 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 dot com this program is brought to you by vista gold traded on the nyse american and tsx under the symbol vgz welcome back folks to doubt down this was down 71 now sick is up eight 54 recipes up one and a half let's go to michael in toronto michael what's going on brother yeah hi thanks for taking my call a couple things uh carl icon uh enter price of ticker symbol i e t so the the low in this uh stock for the year is 18 the high is 55 okay so what about this now what do you think it is is it a policy is it imploding are we seeing an implosion of a iconic uh hedge fund manager well it has imploded it just went from 51 dollars you know hit a low last wednesday of 18 dollars yeah yeah i wouldn't touch it you wouldn't touch it all right no i mean if you look at this see just check this out i mean i'm not quite sure if you're watching my screen this this equity he's always lost money you see this every city this goes back five years so every single year they've lost money so it was just a for him it was a great way of doing a master limited partnership a man a master partnership actually but that's that's the the the units are basically limited partners of the master partnership what's your what's your prediction uh where it's going is that what you're asking oh i lost them that's a bummer yeah just don't touch it folks that's the bottom line so so what happens is this is that on i wonder if this is odd as well that was all right so what happens here folks is this he always let this is a great way of raising money for sure okay and he always would either give the dividend in cash and or units units the same as shares it just that this is the master limited partnership so they call them units okay so he already owned 85 percent of it it stayed steady for a long period of time until it didn't because the yield okay was so big that people wanted okay now you can see this is not going to pay the next yield i mean you can see it's saying 35 percent he did pay the match now this is where this was tricky okay because i'm sure that you know when this first came down so watch it happen if we go back to April right that's when it imploded April 28th it looks like okay April 29th is every table 29th no may 2nd may 2nd imploded right and what ended up happening is that it runs down then it does a pop up to 39 now what happened there is that he come out and he says that he will pay the dividend to owners of the units as of March 31st well great you get paid for March 31st but if you still held that the bottom line is that you just lost an additional what it went from 38 down to 19 okay so you get the i wouldn't touch this thing you know that's the bottom line he's been telling you know well i just showed you that he's lost money forever now on top of that what's going on is that he pledged hundreds of billions of dollars of equities for personal loans that's also public information you know so what ends up happening there is that you know the bottom line you get another margin call and you know let's see what it says yeah let's see that icon held talks with bankers about asset swaps and new fund raising though those actions had to be on hold the mid pressure from shareholders and the department of justice he has a lot of problems folks and one of the main problems that was brought up in i didn't read the whole hinderberg report i did read what was basically on bloomberg in the wall street journal and one of the problems that they have nailed on is this is that there's another small energy stock that he owns a huge amount of that he bought the stock for the fund and then he marked it up 300 so it's trading at two dollars and something here and then inside the fund it says worth six dollars something here that's why the justice department has evolved in it because and what does happen it seems like it happens all the time on these closed-end funds that they can mock to market that you know who's mocking them to market if the fund managers mock them to market is like oh you gotta be kidding me you know but bottom line is that he needs he needs a miracle in order to basically get that equity going again because it's it's been a vehicle for years for him you know to basically go after plenty of companies but guess what looks to me like it's the end of the line that's how that thing is shaken out we're going to take a look at the let's go take a look at the silver market so silver silver traded down to let me get this so we get down to the 2280 level let's see the SLV how this is setting up because what is happening in mexico if you have silver stocks in mexico you got to be careful folks okay it's there's a whole turn that's happening here that you want to be aware of yeah see this is you got a little pop up here today on the SLV light volume this is not done yet this looks to me the SLV looks like it wants to go to 20 dollars and 40 cents and you know what was amazing about the deal in mexico there's always been the aspect of high risk in political in the mining business because of politics okay because most of their time you know you have the metals are in countries that you know bottom line go back and forth about who's leading the countries not mexico and now that largest they're the one of the largest silver producers in the world and now that's going to be a problem and you know we'll see how it shakes out but it can destroy businesses like in about two seconds you know so the real question is going to be is that yeah I suspect what would happen is the next thing that the silver bulls would actually say is that well if it's going to be less silver there then it's going to be worth more money folks what happens is this the higher the price that that gold does go the more silver is going to be basically be in those mines as a as a secondary the higher the price that copper goes you'll also get more silver that's how it works copper is not in great shape right now but I'm just trying to explain to you there's a lot of silver out there you know and yeah and that's not even talking about the aspect that JP Morgan just continues to sell silver I mean they've been making so much money on basically you know doing the martingale system on silver that is insane and what if you don't know what that is folks okay you just keep double and double and double and and don't try it because the only people that can do it have that have unlimited funds which would be a JP Morgan Dow Dow investors right now down 55 Nasdaq's up 49 S&P's up 2 stay right there folks you're coming right back are you looking for a way to consistently add winning trades to your portfolio Tom O'Brien is here to help Tom O'Brien has been successfully trading markets for over 30 years a frequent contributor to TD Ameritrade Network and CNBC Tom O'Brien founded TFNN over 20 years ago to help educate investors just like you Tom's daily market newsletter market insights is published every morning when the markets open 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 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 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 welcome back folks are down now investors right now down 77 now it's except 20 up 30 S&P's off 3 this is going to get really uh this is convoluted actually but so check this out so you have the the security exchange commission right sending letters to private equity firms that steered their clients funds out of silicone valley national bank okay it's like a serious man so this is came across the tape the security exchange commission examination here it has requested records of some investment firms money transfers and the investment communication over the first three weeks of march as well as emails according to people familiar with the matter who asked not to be identified some questions focused on whether executives or personal accounts of the bank cashed out before the clients where the deposits went now I can picture that pot for sure okay but the bottom line is if you if you're trying to you know say that fund managers can't get the money out well that's a problem now I understand what I think I understand what they're saying now what does happen is this if that fund manager had their clients put the money in the bank and that fund manager didn't get the clients money out first then that could be a problem you know it worked out that everyone's going to get their money but the bottom line is that uh that could be a problem you know it is intriguing not everyone actually when I just said that everyone is not actually going to get their money who's not going to get their money listen to this this is intense is that the folks that they they had a lot of different subsidiaries and right now there's going to be a fight about this but right now in the Cayman Islands if you had your money in the Cayman Islands and your your funds are the Cayman Islands and a lot of people do that folks because the fact of the matter is that if they're dealing outside of the US if they keep the funds outside of the US then there's no tax implications those people are not covered at all good old USA see I mean it's a big difference man always remember folks the bank and claw your heart out the book and run you over and thank god there's always another trade health habits and prosperity have a great night folks have a safe night come back and visit Tommy tomorrow morning kicks us off 9 a.m. we'll get him folks