 The following is a presentation of TFNN Trade what you see With Larry Pezzavento Call now toll-free at 1-877-927-6648 or internationally at 727-873-7618 Now Larry Pezzavento Okay, looking good, Billy Ray feeding good, Lewis. Billy Ray Valentine is going to offer a new service here at TFNN It's going to be a Twitter service as you can see here the DAX chart where we were it's about 30 minutes ago They tweeted out that there was going to be some problems with China now If you would like to be involved with these twitters About five minutes before they come out. I'm going to be able to offer it for you All you have to do is go to www.fatchance.com and someone will get in touch with you very shortly Boys and girls, I want to tell you something that happened over the weekend that was uh really It was a real eye-opener for me. There's a new book come out called the man who solved the market It's a story about Jim Simmons and it was written by Gregory Zuckerman It's a it's a really phenomenal book the people that have endorsed it is Ed Thorpe, you know from beat the dealer He's a head fund manager Muhammad Ella Ariane, you know the guy that was at PIMCO Jim Grant the grant interest rate letter. Oh my gosh. Just Michael Lewis the guy that wrote the About the big short. It's just terrific. But folks the most interesting part for me There's several parts, of course, but there's a couple of things that are really funny Jim Simmons has a competitor in this business David Shaw. They both do pretty much the same thing They started in the 1980s when they both started But in 1985 David Shaw had a young Programmer from harvard and his wife working for them, but they decided they didn't like it too much here In new york and so they decided to move west It was Jeff and Mackenzie Bezos. Can you believe that shut the front door and raise the rent? But listen to this folks The source of mr. Simmons investing style reaches far back as Babylonian times when early traders recorded the prices of barley dates and other crap crops On clay tablets hoping to forecast future moves In the middle of the 16th century a trader from Newenburg, germany named christopher coups Won a claim for his supposedly ability to forecast 20 day prices of cinnamon pepper and other spices Like much as the kite at the time curse relied on an astrological sign But was tied to back testing signals Deducing certain credible principles along the way he goes through he talks about wd gan how it affected him he also talks about Some of the other great traders along the way the book is filled with nothing other than names like Well, first of all bruce covenor Paul tutor jones. Just I mean, there's just one after another folks It's it's really truly amazing But frankly, I would not trade places with this fellow no matter what the first 10 years He really had a rough time. He's 81 years old. He's lost several members of his family's children A lot of friends who cancer and believe me these fellows were very very brilliant guys that were doing this incredible IQs from mit Harvard and Berkeley and places like that just really super quants is what they were They all made a lot of money, but very few of them were very very happy And that was really that one of the main things that came across in the book He really believed in geometry, of course, as you know, he named his 220 foot yacht Archimedes and of course those that know me that my yacht is named invisible because no one's ever seen it And it's just really amazing to see some of the stuff that he's done just to give you an idea His average holding time folks is two and a half days He trades everything commodities stocks forex ETFs Anything that's high volume. He's in there in there trading it on a short term basis He has 300 employees 300 of them which are quants that have to sign incredible risk Or non disclosure agreements It's it's really very very amazing some of the things that That came out in the book. It was it's just really really really Interesting book for me But the most interesting part of the book Was when he mentioned that everything changed for him in 1989 when he bought his MIPS computer MIPS which means Million integers per second I bought mine in 1992 that computer sat there in pismo beach and did nothing but run for three years And all it was doing was crunching data crunching data and crunching data and crunching data and crunching data From that that's how we come up with some of these forecasts that we come up with so I knew I was on the right track, but he has 300 employees It's just me and john and allen and we are trying to do the best we can but we're getting close Maybe we'll get it. Maybe we won't but you know, sometimes you see glimpses of light In the old background and I want to show you a glimpse of light this morning that we had going on You'll see here. Uh, one of the things of course, I sent out to the folks last night was to please please please be aware of the number of 1458 in the s in in the um In the gold because that was the 61 percent retracement of the move We hit it. We've rallied over 10 dollars from that point Now you notice the forecast is up for the rest of the day Remember these spots that you're seeing those things they have nothing to do with price folks They have to do with time. It's a time vibration. Yeah, mr. Bill the chance of me getting a yacht If I get it, I'll take it down there to jupiter florida and let you hold it for me. Okay Not a chance folks, you know, one of the reasons why I I don't like boats is based on some of this stuff That's happened with with the I'm going to tell you the story because you always rag on me about it We had bought this MIPS computer and denison passed away only a chance to work with the guy for 16 months So I get didn't know and when he died he left nothing We had no idea how this stuff worked So we had to start from scratch and we were scratching away when dr. Jimmy elder from birmingham was helping us And we had a computer programmer from San Luis Obispo We were making some progress and I had a chance to take a my first cruise of my lifetime Down to Mexico and so I decided to go down there and I got caught in a typhoon And that was it. That was the end of my boating career. I won't even I don't even like to watch boats So that was it. That was four days of a total Total heck, but that's how I got that's how I got involved with the boats and stuff the only the last boat ride I took was about 10 years ago down in Florida with tom on one of his yachts and we took the yacht from his house over to the restaurant and believe me folks It was a full moon and oh my gosh, the waves were jumping all over the boat I mean, they were I think they were waves were 10 to 15 high Just going to the restaurant everybody tried to tell me that the the water was very calm and clear And you could see the glistening of the full moon on it But all I could see were these 10-foot waves consuming the boat. So that's why I don't like boats I don't I don't like planes much either, but you have to ride in them occasionally So that's pretty it if you're really interested in the life of Jim Simmons You might want to get that book. It's the man who solved the market. It's 20 bucks It's worth to me It was worth every penny because it was like walking down memory lane with some of the stuff that I would have liked to have met some of these superquants, but you know, they're really difficult folks They live in a different they live in a different time zone than we do And believe me Dennis Reagan was was definitely one of those guys that was was in a different time zone So yeah, Tom's the greatest guy in the world. We all we all we should have a Salutation starting the show every day here to thanking Tom for bringing us together here at TFN and we'll be right back If you're not currently using the TAS profile scanner when looking at setting up your trading opportunities Then your arsenal is short a mighty weapon The TAS profile scanner is a standalone piece of software that instantly filters over 2,500 global financial markets such as stocks ETFs commodity futures and forex Heated by Steve doll TAS understands that in today's technological world the use of top flight software Applications and technical analysis expertise is essential to successful trading in today's market You also gain access to the webinar that Steve doll and Tom O'Brien just hosted The best way to use the TAS profile scanner to profit this webinar archive is available for all subscribers Immediately upon signing up all new subscriptions also come with a 30 day money back guarantee So you have nothing to risk Start your subscription by visiting the front page of tfnn.com today And you'll find the TAS profile scanner under the services tab sign up today Are you in the market for buying or selling real estate in the bay area including the surrounding st Petersburg Tampa and clearwater markets tiger real estate LLC is a firm that has extensive experience in the Tampa Bay area Whether you're looking to sell your current property for maximum value Or you're in the market for a second home or investment property Tiger Realty has the experience across all areas of real estate in the Tampa Bay area to help buyers and sellers Make the most informed decisions across all price levels from the price You should be paying per square foot in certain up and coming areas to the type of cash flow investment properties are capable of creating Tiger real estate can help you make the best decision when it comes to all areas of the market before you make one of the Biggest decisions of your financial future. Call tiger real estate LLC today at 7 27 329 83 22 or email us at tiger at tfnn.com that's 7 27 329 83 22 call us 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 the charts as they happen live and hit access to archives of all of those charts You can test drop 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 or 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 home page 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 All now toll-free at 1-877-927-6648 internationally at 727-873-7618 Okay, we're back folks and I wanted to Mention a couple things about this book by Greg Zimmerman the man who saw the market if the back part of the book it shows Jim Simmons's track record from 1989 Up until today. That's 30 years folks He averaged 39% a year for 30 years folks He got a 5% management fee up front or the standard is two And he also charge 44% of the profits That's a lot of money folks most people usually it's two two 20 or two 10 Is what they charge normally, but that's it of course steve cohen can get You know, he gets 5% and 50% Paul Tudor Jones used to get 5% and 40% but he's got those way back quite a bit. Anyway, I posted a chart here from Savakio a group which is basically showing the Tom DeMarc 13 count TD and It was interesting to bring this up because someone asked me to talk about it today And I would like to bring this Chart up here showing you the next one is really the performance after these signals occur What happens, you know to stock prices after this signal occurred out hasn't happened yet But you'll notice here that after between one month six months even out five years This these patterns last a very very long time So if the market continues to go higher from here It could be related to that signal that we're looking at here that Tom DeMarc is looking I'm sure we'll see more about it on the internet as we as we look more and more about it But there's another really interesting. Oh, by the way, someone asked me to bring the chart up on the The gold because we sent this out early this morning To our folks once we got close to that Oh, shut the front door. There we go. They went once we got close to that 14 58 level We got down to 14 56 50 we rallied about 11 bucks from that level, but if you did buy it there make sure you You know protect yourself use a trailing stop common sense whatever works for you But try to keep an eye on that if you can because if it gets unchanged on the day And it's not too far away from that It's got a chance for a key reversal today because remember that long-term Picture on the gold was could it could be incredibly bullish folks will bring it to you one more time just so you Say that you heard it here. I don't know if it's going to happen or not But you'll notice here that that 382 level came in at 14 48 five days ago So far today we've had the 61 percent retracement and a nice little rally But whether it's going to continue or not nobody knows but that's neither here nor there You know If you want to the most amazing thing About the the fact of reading the book at my good friend tom who guard who some of you folks have Got his book Tom's a big fan of jim Simmons And he was not surprised about the holding period of two to three days But the thing that was really interesting is he's only right 50.75 percent of the time that's what it's been year after year He's only he's just a tad above 50 right in his common is yes I'm only right 50.75 percent of the time But on that 50.75 percent of the time I'm a hundred percent right for a long time and that's usually two to three days So he rides his winners got his losses short and that's pretty much what he's doing So protect your losses folks. It's all about defense just like natural gas my thoughts on natural gas We're going to bring him up here in just a second here having a pretty good sell-off today that gap down again I don't know what the news was but uh, just give me a second here. Mikey and we'll get this We'll get this up here Yeah, here we go. We'll get it up here in just a second here. There we go Get it up here. We're we back down. We're back down to that 60 level, but oh we're below that 60. We're getting close We're getting close now to 249 level. I don't see any hold on just a second here You remember here once you remember what we talked about here is after we left that island reversal gap up there You can see that very very clearly that was an exact abcd pattern folks here again There's the abcd pattern. Oh one other part of the book that I think you're really going to like on the very at the very Acknowledgements he says right here if it had to been for one technician that I learned most of this stuff from in 1989 Mr. Larry pissevento of pismo beach, california Huh very strange and if you believe that folks, I still have two shares of the brooklyn bridge Anyway, look at that island reversal that you have up here That was a key that something was wrong. Notice how the market came back And rallied up to a 382 retracement on friday at 272 and now we gap down And now we're below the lows of 258 that means an abcd structure is forming and that doesn't come into 243 Now what is 243 look very closely? Because if you look at the low of october the 14th and draw a 61 retracement of the move from october The 13th all the way up to the high that we made on november the 5th That comes in at 243. That's an abcd Coming in at a you know really nice 61 retracement name will also make it a 135 pattern So that's something that we ought to uh at least pay relatively good attention to Okay. Mr. Z is asking a question. He says, um, uh Recycled a 255 currently has to repeat the data. Larry you went through the s&p performance. Oh, oh, oh, oh, oh You know, mr. Z. I'll just send it to you after the after the show, okay I will I'll send both of them to you because I I was just Forwarding on from one of our listeners here tfnn from europe Asked me to go over the thing with tom de mark tom lives up in scott's dale Where I'll be later on today and I have to meet some friends But we will um Tom is really really very very successful. He's got that big thing on bloomberg and stuff. So I say again mr. Z type in hey hey john call in, you know, you're Your family bubba, you know Don't be afraid to ask some questions a lot of things I don't understand and maybe I didn't explain it very well Basically, it was a chart talking about the td system for tom de mark And it was showing the results of that td system From anywhere from one month to five years out into the future now That's a pretty big prediction and it only happens what what happened there seven times in what 30 50 years So I don't know if you have any questions about it, buddy call in because I'm just forwarding the information That's all I'm trying to do is do no fake news here folks honest reporting nothing but Nothing but honest reporting. We just had a very dear friend come back from two weeks in paris And they had all of those problems with the yellow vests people Protesting and stuff and she told us that she didn't see anything like that That's isolated to a very small few blocks section of paris But the way the post way the people, you know bring it out in the news It looks like the whole of paris is burning down And it's just a very very small section of just a few blocks from what she could understand But I you know, I'm just giving you again. I'm just reporting secondhand information, but not fake news as near as I can tell All right, let's move on to another. Oh, we got another break coming up boy times moving fast By the way, we have stan harley is going to be our guest tomorrow and on thursday I believe we're going to have tim boss and on friday We're going to have Dr. David paul in the morning and then right after that morning break at the half hour. We're going to have tom Who guard is going to be going on? Ah, someone's talked about my old buddy joe denapoli showed him fibonacci 1973 Back at the old conty commodity office building in westwood california right about westwood boulevard right above ucla We'll be right back boys and girls Larry pesavento has just started his brand new service fibonacci 24 7 and he's already delivering content to his subscribers on a daily basis when the markets opened and even on weekends Each monday you'll receive larry's written report that provides detailed commentary and a summary on the charts and videos that larry sends out And throughout the week when warranted larry will send out via charts or videos or both the key markets that he is watching during the day This will be up to the date active trading information that will help you in your daily trading in larry's first week alone He sent out 25 charts six videos and a full report to his subscribers in just one week If you're a technical trader that uses patterns and retracements to trade then larry service fibonacci 24 7 is something that you must try right now new subscribers can get a full 30 day money back guarantee With nothing to risk sign up now to larry pesavento's fibonacci 24 7 by visiting the front page of tfnn.com under trading newsletters The path of least resistance is david white's daily trading newsletter And if you're looking for active trading ideas then now is 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 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 including godly's abc's butterflies and much more The art of timing the trade charts is designed to help you when scouring the markets for stocks Just beginning to form the trading patterns that many investors spend days weeks or even months searching to find And right now we're offering licenses available at only 79 dollars a month We are so confident that you're going to love this new charted 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 We're back folks and we have a caller from the valley of the wind las vegas nevada paul are you there? Yes, sir. Good morning. Larry. How you doing? I'm very good my friend What can I do for you? Larry I want to take a look at disney because I listen to the show often and I know you talk about the power of that 382 retracement Once we have a pretty big move I'm curious how you would Measure this retracement because disney the breakout the way I look at it really started Hold on one second a little bit lower than just the other day Around 130 dollars. We had the gap up And a nice little flag pattern for a couple of days and then with gap and then We went all the way up to that 150 level Mm-hmm. Yep. I posted it in there I I just posted it into the tiger den a high was 150 and a half and the 382 retracement Comes in at 142 even so we're two dollars and a half away from that level So, um, that I've had a beautiful butter a beautiful abcd pattern down there in october I hope you were looking to that 127 because that was a no-brainer But the 382 of that move comes in at 142 also Paul is very important that one because that will also be a 61 percent retracement From the gap low that we had on november of the 11th, you know pre-report That was two days before the report. So that that really strong support should be at 142 below 142 I wouldn't touch that stock because it's going to go down and fill the gap at 133 But it should have a great deal of support at 142 It's the way that looks like just by watching the charts. I remember there's no fundamentals involved here So keep that with a grain of salt too, my friend Yeah, no, definitely. I was just curious on how you Measure these moves because there is the big bar that started, you know, 137 about Yes So I was just curious if the if you would measure the retracement from that bar or from the entire move that started about When when you measure the 382 of the whole thing You got to take the you got to take the low that you made way back in october You can't take the low where the gap is because gaps Reference unknown things so you don't really know what's happened there You know what happened on october 31st because that was a major bottom So you go from the major bottom to the major top Okay, you're talking about 23 points and the 382 on 23 points is going to take you right to 142 142 will also be the exact 61 percent retracement Of the low that we made right before the report that was down there at 136 So that's why that 142 is so very very important It's uh, you could just circle your pencil about that because if it uh, if it doesn't if it gets below 141 It's going to go down to 133 and fill that gap. So Just be careful. We got some gaps in there which are you know unknown things But that's mainly related to news items and you know stuff that that happens. So I can't do anything about it Okay, well perfect. Thank you Larry. I appreciate your time. I love you. I listen all the time I just I can't call in very much because I'm ready for the open at 6 30 But um, yeah a lot of great information a lot of great books and I keep doing what you're doing really appreciate it Well, thank you very much and your $20 check will be in the mail paul Hey, thank you. Thanks a lot buddy. You really appreciate it. Happy holidays to you my friend Thank you, sir. Bye. Bye. Okay. You bet. Okay. Here we go here. We'll see what's going on We got the stocks are basically unchanged doing very little gold is back to up on the day, which is Pretty good. We've had a pretty nice move. We rallied from 58 all the way up to 14 71 rallied $18 a day. That's not so bad. All right, 46 and 70 of $16. That's not so bad Remember the the half of the harmonic number now is $17 and gold. So at 14 at 14 71 1472 we should run into Tiny tiny and I'm talking tiny bit of resistance because if this gold gets much above 14 75 folks We could be looking at an outside day up breakout type thing and remember That's a very very bullish long-term chart on gold if that 14 58 holes So I would give it the benefit of the doubt. That's what I would be Looking at as we look down these charts as As we're seeing here. So let's move on to another one that someone's asked about and that is the This thing about the gold because it's related to uh, this is one of these Conspiracy not conspiracies, but what do you call it? Yeah, I guess it's conspiracy But you know about whether who owns the gold and stuff like that. This is a chart Forward to me by someone here at Listener tfnn showing the global global reserves and you notice here the us treasury Gold reserves has been dropping and global reserves have been going higher now The the headline on this was that Putin is buying the gold now boys and girls Let me explain something in really simple terms People that move money around like that. They don't want you to know what they're doing until they want you to know What they're doing. We've seen this with george soros. We've seen this with warren buffett I'm sure everybody does it. They don't tell you what their positions are until they want to get out so Don't be naive. Please. That's not uh, it's not in your best interest if you do that So pay attention. There's another chart that is very interesting and that is this one that we have going on here This is the emerging markets chart This is a weekly chart and as you can see here, we have just completed a 382 retracement with an abcd pattern We had the gap down. We left that little island reversal But frankly folks if you look at hong kong today I mean they were really bombing away in the old hong kong university Area quite a bit and people were out on the streets walking and complaining whatever they were doing But the stock market for the hank saying was actually up a couple hundred points So it held, you know, really well. So that that's actually a good sign. So people are not really scared Hey, we got a caller from New jersey victor. Are you there? I'm here. Yeah, I'm just Looking at sq and till rate tl r y and personally, I think the markets are totally rigged right now because they never go down No, I'm telling you you can't play with any Well, you can't drink every morning even today Well, that's probably some shiny news came out today that they're not doing something and the market's still out This is like 2000 dot com bubble. Yeah, okay. Let me see you march I don't have sq. Can you tell me what that is? I I have a new data service and I do that square sq That one I don't have but I might have I might have till ray. So if you'll bear with me here Just one second. I'll see if I can get till ray up. The problem is I've I'm switching Uh, what do we call uh data services now if he can't Nike nke Because if the doubt keeps on going up Nike hasn't done much. So maybe it'll go up Okay, I could do nike for you not a problem. But that is uh, that's really doing very little. In fact, it's setting Uh, it just made a 61 retracement. I believe let's just get this up here. I think it did just get it Yeah, I think it just made it, uh So that means it's going to go up. Yeah. Yeah, it made it. Well, it it it it actually was up today. Isn't it up today? I didn't check it here. Yeah, it's it just hit a six. Let's just take I'll just show the folks here We just hit a 61 retracement here In nike and till ray is that one of those cannabis stocks? Yeah, yeah, that's what uh, yeah, I was just thinking I was going to buy that for speck watcher for speculation Uh, you know what I would do I would put the watch back in your watch pocket and wait That doesn't look like a buy to me at all my friend. I would wait on that one. No Nike could go then because if the day we're going to doubt 30 000 because we've got traumas our man We're going to hire so buy nike man, right? All right, listen, thanks for calling victor. We really appreciate calling in buddy. 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Gold is trading back above $1,500 and the 10-year treasury is hovering at around 1.5 percent Tom o'brien has been writing his weekly gold report for almost 18 years There's no one that knows more about how the gold market trades and how gold mining equities react New subscribers get a 30-day money back guarantee so you have nothing to lose Every monday morning tom publishes his weekly gold report with coverage of gold silver bonds the xa u Hui gdx the dollar as well as more than 30 different mining equities as of september 3rd Gold report subscribers have five active open positions with an average Unrealized profit of almost 38 percent for each position to see for yourself the types of profitable trades that are recommended within the gold report Sign up today by visiting tfnn.com Will the smp 500 continue to climb for bold trades on us large cap stocks in either direction trade spxl spu u or spx s directions daily smp 500 bull and bear Leveraged ETFs direction leveraged ETFs an investor should carefully consider a funds investment objective risks charges and expenses before investing A funds prospectus and summary prospectus contain this and other information about direction shares To obtain a funds prospectus and summary prospectus call 866-476-7523 or visit direction investments.com A funds prospectus and 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 The bull bear trading hour with tom and tommy o'brien next Folks next we're going to switch gears here and we're going to go over to forex land and talk a little bit about the old euro because uh As you know last uh Thursday as you can see here. We went right down to the exact 61 percent retracement at 109 95 That was also a 78 percent retracement of the small low that we had back on october 7th And it was also if you did the expanded move between the 28th and november 4th That 1.618 expansion came in at the same time. And so you had three major ratios Coming together at the same time, which is uh pretty good in my book You can't get everything working in your favor, but that is about as best as you can do So let's uh move on to the next question someone had and that was about the Treasury bonds and we want to get the treasury bonds up here on the longer term basis We've been in a pretty much of a bear market here since august Which where we had the dropping open interest we were completing the apcd pattern there at 165 We got as high as uh 166 and change and we got all the way down to 156 So we dropped 10 handles You can see very clearly just by looking at this weekly bond chart that we just completed an abcd pattern folks very clear And the 78 percent level was right off of the c-point at 156 We brought this to your attention probably several times here the last few days Hope we were able to take some advantage of it But uh, it started to move higher a little bit now. We shouldn't get any higher than about 161 At the very moment if it's really bearish, we're not going to get any higher than 160 but 162 would probably be the extent of that rally because this scam thing they've been trying to feed us that tastes like tapioca This negative interest rate isn't going to fly too much. This is uh, that's not That's not a valid thing. I don't believe so we'll see if uh, what's going on All right, let's move on to the next question someone asked and that was about the old canadian dollar The loony let's get this up here and take a look at it And you'll get this up here and you'll be able to see here that we are Just completed a double test of the 61 percent level at 131 we rallied up For uh, three weeks. We stopped right where we should have right about 132 and a half So we're probably going to be in a tight rating strike trading range On the canadian dollar here for the next few days or next few weeks I would think with slight bias to a pullback because we were up strongly For three weeks and then we'll see if uh, if that's going to uh, if that's going to mean anything We'll have to wait and see we've now rallied folks 17 dollars off the bottom in the uh, In the gold market had a low of 56 highest 73 that's 17 bucks Isn't it yep, I hope it is See three and so yeah 17 dollars And so that's one half of the harmonic number So if you're bullish gold, uh, you don't want it to give much of that back You'd like to see a three three eight two retracement Of the uh, 17 dollars and if you did your math you'd see that that would be six dollars. So you subtract 70 uh, 11 I see 14 73 from six That would take you down to about 1465 Is what you'd be looking at for a potential really low risk buying opportunity to three eight two in the gold If we get below 1460, that's not going to be good So you want to see it, uh stay above 1465 in the gold. I hope that helps, you know When I give you these numbers folks, I know most of the time it's going to go over your head But you know, I gotta gotta fill the airline airwaves with things that I understand I don't understand the fundamentals. I don't understand stocks. That's That's the name of that game, but I do want to share with you I've been waiting for this because I think this is one of the better charts I saw all weekend long comes from the las vegas where we just spoke to uh, Paul, this is one of your old trading buddies I don't think you know him, but he's a really smart fellow over there living in one of those high-rise places and we're going to bring this up here and show you this chart here of the bloomberg not bloomberg. It's a bloomberg chart coming out of the Goldman Sachs, and if you notice here when you do these Bollinger bands You see how it hits these Bollinger bands. It's usually near a market top. So Be careful now if you notice the right side of that We just had a three-day rally In Goldman Sachs that really didn't go very much considering the rest of the market was screaming So that was sign of a weaker than market stock And you know, if you look at the chart really closely, you can see the beautiful abcd pattern That ends right up there at that high at 224 So this is a really strong indicator If these technical things keep going like they are then we should have a pretty good correction at least down To it looks like that 210 level In the in the Goldman Sachs. So we'll see whether That's going to be the case or not. We'll have to do that one one day at a time But that's what looks like with Goldman Sachs Imagine the one for the banking index looks pretty much the same because it's been lagging the market Also, you well. In fact, it is you'll be able to see it here This is the weekly chart of the banking index And as you can see here, we completed the abcd pattern here last week Right at the 78 percent level of the high that we made back in 2018 So the real key here folks is that low there At 2000 at 382 low at 80 whoever go below that There's problems. There's one big bank in the world that's having major problems folks There's rumor that it's Deutsche Bank Because they're having they're having to come to the Fed windows to get money all the time So there's something going on with a big bank They're not able to borrow from other banks because the other banks know that they're no good And so they have to go to the Fed and pay the popper But that's the only choice that they have so we'll see it It is a Gartley in the banking index Marshall it's spot on that's a weekly chart And I'll put it up here. Well, you can see it folks It's quite easy to see that that little gray those little triangles measure right up to the 78 abcd pattern And if it gets strong today, then you know this pattern would be a failure But that's neither here nor there That's what we're watching as we as we look at some of these things unfold here this morning So I don't know if that's going to be uh, we got to do a couple more minutes here If you have any questions folks, it's 877-927-6648. I'll be happy to Answer the question for you. And if I don't know the answer, I will certainly make something up All right We had one other question and that is about the soybeans because we have a very interesting pattern And right in the time when we're supposed to be not having any, uh, what do we call these things? Uh trade tariffs or whatever this I don't believe any of that trade stuff Frankly, I well, I don't believe any from washington anymore or any other Government if you want to know the truth You'll notice here that we have a beautiful abcd pattern down here about another 15 cents lower in the bean So beans get down today Due to some technical Glitch with these china things or not, you know, they might be a very low risk Buying opportunity can become a farmer there for very little As opposed to, uh, you know owning a farm and leasing it out and buying tractors and hiring people You can do it by buying a contract at the chicago board to trade our chicago mercantile exchange and You know playing it that way. So that's another one here is another indicator that someone sent us This is about and I don't understand these things folks. I know they're related to the moving average things these are the things called the hindenburg and the uh What is the hindenburg and the uh hindenburg omen in the titanic syndrome? Wow Two things I love to do flying a balloon and be on a big ship Anyway, I don't know what this means. It just shows you someone asked me to post it So I did it shows the nasdaq up there those little red dots is where those hindenburg signals Happened they didn't last for very long But but one day they will and that means someone will be able to say ha ha I was right just like me 877-927-6648 I'm certain you are or strive to be one of the best of the best at everything you do in life It's the most common trait that we tigers and tigers share If you're looking to become the best of the best when it comes to managing your money Let me teach you to do what most wealth managers tell you can't be done Which is how to time the markets? I'm steve rhodes author of mastering probability 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 and p500 for the last 12 Six and three 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 homepage 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 to sign up today If you haven't checked out the newsletters page of tfnn.com What are you waiting for all of the tfnn newsletters are informative up to date Affordable and a must-have for every trader looking to gain a competitive informational edge in today's markets tfnn newsletters cover every aspect of the markets to offer you the very latest in market news Plus new subscribers get to test drive our newsletters risk-free for 30 days From all aspects of the markets including stocks bonds metals commodities and tech There's a newsletter to fit your needs exclusively from tfnn Stay informed each day you trade and get a 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 Basil Chapman has just announced a live 90 minute webinar He'll be conducting for subscribers to his daily trading newsletter the opening call Which will be taking place tuesday november 19th from 5 till 6 30 p.m. Eastern time Titled a comprehensive review of the Chapman wave techniques and market outlook ahead for 2020 This is a great time to sign up for a 30 day free trial to the opening call while gaining access to basil's live Subscriber event taking place later this month with some stock picks up 15 to 30 percent this year alone Basil will review many of the Chapman wave techniques that helped in their successful analysis As well as providing the sectors and stocks that he thinks will be of importance heading into 2020 For all the details check out the opening call on 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 Okay, folks we're back and we're talking with one of our favorite people. We're not talking to him But we're going to be Answering his question and that is marshal from up there on the oregon river on the washington oregon border He's asked us about soybean oil. I posted the christmas oil Marshall what I would do is I would wait a day or two To see if another pattern emergence here because all we've got is a straight down move here And so I would be a little reluctant because it's a totally different pattern Then we see in the soybeans if the soybeans make their pattern down 15 cents Then I would relook at that soybean oil and the reason why it's much stronger than the meal So that's the one you would be buying So I would wait until that pattern hits in the marked soybeans down 15 cents If that hits then I would look at the soybean oil because you notice the multiple abcd patterns that we made up here My gosh, he had one two three four of them up there at that 31 and change level And now we're trading at 30 43. So the support would come in right around 20 around around between 30 30 even and 29 60 is near just looking at the charts this morning So that would be equivalent to about a 15 cent drop in beans And of course, you don't have to risk very much This is one of the lower margin things that you can trade at the border trade I think the marginal it's only like $800. So it's really really cheap and you know, you got something that's worth 18 000 So you can become a bean oil trader without very much capital. So that's what I would be looking at here But we do have an oversold market. We're down 10 days, but frankly, I just don't see any really super support Um, well, there's a little support right where it is right now But because the beans it's very oversold it could rally at any time But I don't see an intermediate pattern here all I have is a retracement number And as you know more so we like to have at least two or three numbers on our side much like we had in gold this morning You know that gave us a bigger bigger edge because you had several numbers coming there telling you that it was Very very important here at oil. You do not have that. So that's what we're watching here. I hope that helps I I think it will but who knows I know it does because you follow what you're supposed to be doing And you take responsibility for your own trades give your lovely bride a big hug and a kiss and may god bless And we'll see you all guys tomorrow