 The following is a presentation of TFNN. Trade what you see with Larry Pezzavento. All now toll free at 1-877-927-6648 or internationally at 727-873-7618. Now, Larry Pezzavento. Okay, looking good, Billy Ray feeling good, Lewis. I've laced up the chart of the cell index chart and it looks like the stock market is going to go up forever, folks. I just got notice from the stock exchange that it will never go down again. So we're in pretty good shape there. I tried to post the chart for the NASDAQ, excuse me, let's try that for the DAX and the German DAX and the FTSE, both of those didn't quite come through. I'm still having major problems with the computer. I do have some good news is I took my old computer in, which is that Toshiba gaming computer that I bought five years ago and the young man that picked it up and I took it to was supposed to be a computer expert. He had it for two days and when I went to pick it up yesterday he said to me, he said, they don't make computers this good anymore. And he said it's just as good as new and he said it'll last another five years. He replaced the hard drives, he replaced the fan and a couple of other things that he didn't quite understand, but by it's really running quiet. The trouble is I've got to redo the whole thing and put everything in it. Folks, we've reached a very big spot here. I know it's not going to come up but I'm going to post it or anything anyway. So hold on just a second. It's the fear. I don't like this. Let's just get this fear index. Larry, Larry, Larry, you just having all kinds of trouble today, Billy Ray. Capricorn, hold on just a minute here. There we go. I think that hopefully you'll be able to see part of that fear index. It's at 85 now. It hardly ever gets to 90, but it'll probably be more than 90 today given the fact that everything is copacetic in the markets. But we've reached an area in the S&P that we've never seen before to have this many up days with only one down day. It's never happened before. I like short the bonds right here, Ruby, at 162.20. That was the number I was looking at. And I think it's going to be okay, but let's look at a couple other things. One of the things we want to talk about, folks, is when markets fail. Remember here, we had this young man on. I don't remember exactly what his name was or where he was from, but he had this stock called ZS. I just want to bring this to your attention to show you. And I know the charts are only going to come out partial, but there's nothing else I can do about that. You know, we were looking for that stock to make a 1.618 retracement at 163.20. And I just wanted to show you what happened to that stock after it hit 320. Let's just get this up here and you'll be able to see it. Hopefully you'll be able to see it. Nothing else. We'll be able to, you can see it at another time. I will have everything up and running correctly by Monday at the very latest. I want to be able to do that. But you can see the 1.618 on the weekly. We broke out to the upside. We went up to 327. We came back and touched that line one more time at 320. That's the 1.618 line. And today we've actually gone higher later today because of the bullish news. We've reached a high of I think 338 is what I saw go across the tape a little while ago. So that's why those numbers are so important folks. When they go beyond those numbers, you know, you really don't know where they're going to go. And that's the real key to, you know, trading is you got to figure out when you're wrong as often as you do is when you're right. Now, here's what we were watching last night. I just wanted to walk through these because it shows you that these things do have a high probability of working. Now, this happens to be, I'll do the gold and the crude oil, but let's do the, we'll do the crude oil first here. This is a, this is a nice 15 minute chart given the interday action on the crude oil. As you can see here, we have this big ABCD pattern completing down in here. And now you can see that we're looking for the market to come up here that is 382 level. That's the first place you would be looking at it. So all we did then was to follow it through the rest of the evening and I'll just get it up here because the, the alert I believe just went off just a few minutes ago that we hit that exact number and we'll get this up here so you'll be able to see it. And that's what we're going to be doing here. We'll see there's that number right there. Now that's what I'm going to be doing on the, I think we're going to be doing this on the 17th of November folks because I have to make sure that all the computer stuff is working in. I, you know, I've only got five days to get that done and I, I want to give it a little extra time. So we're probably going to move it back to the 17th. I'm not quite sure yet. If I can get everything up and running by the weekend then that'll be fine. But if that doesn't happen, I'm not going to be bothered by it too much. It certainly is going to be, you know, something that I can live with. That's not a problem. The other thing, let me just get, let me show you the gold chart here because this is something that I thought you might be interested in. Also just give me one second here. This is a gold chart we were looking at of course with the jobs number coming in, you know, the gold number always looks, you know, always looks real wild and crazy. And if you'd have looked at the gold chart today, you would have seen a nice little, what we call a gimme, a beautiful 382 retracement down one half of harmonic number. You'll see it hit it exactly there at the 1785 level and it's rallied $20 some dollars from that level. Those are the kind of things that I'm going to be doing as I go through these charts here during the time when we're trading together with Tom Hougard. I'm also hoping that what I can get John Jameson on for a small segment on the cryptocurrencies, but that's still up in the air. I don't know whether I'll be able, whether I will be able to do that or not, but I'll still be working towards it. That's for sure. All right, now I do want to talk just a tiny bit here about the Euro and you'll see here, this is what we're looking at here in the Euro. We've got this market heading down, which we expected it to do. I saw it later or earlier today. I don't know how low it got, but the key is that we got to watch this dollar index because that dollar index has got up in an area where it should be absolutely screaming to the upside but the stock with the Dow Jones up 350 points and Nasdaq up 150, the S&P up $40, that dollar index ought to be hitting 95 and it's not even close to that and that's a little troubling because it should be right up into that area that should be making that high and it's not doing that and that's a little troubling. I don't understand, well, I don't understand a lot of things but that's one of the things I'm waiting for is to see that market hit that particular spot. So that's another thing that I think it's important to remember of what we're looking at here. Now, I wanted to show you this one, folks, because this one's sort of in the news. Let me get this up here. This is the, oh, we're going to have a break here pretty quickly, hold on, but we'll get this up here and start to talk about it. They're talking a lot now about, you know, food shortages and stuff in China. Well, this is the soybean oil, folks. This is that you can see that head and shoulders pattern where we're selling it up there at that 62 and change level. We're now down to almost the ABCD pattern within a heartbeat of the 1.618. Now, that is a perfect head and shoulders pattern, folks, because from the shoulder to the left shoulder is equal to the right shoulder and the right shoulder is slightly lower than the left shoulder. That makes it a perfect head and shoulders pattern. That's why you've got the trend in your favor and all those factors together, they've been put together in a formula that was published in the non-random Walkdown Wall Street by Dr. Andrew Lowe. I don't use formulas, but I can use my eyes. Hey, we'll be right back. 877-927-6648. 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 and 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 What's separating you from the most successful men and women on Wall Street? That's right. Information. Having all the information gives us the perspective we need to place the right trades at the right time. The TAS Profile Scanner is the premier market-profile-based scanner. Powered by its acclaimed TAS proprietary algorithms, this feature-rich scanner instantly filters over 2,500-plus global financial markets, such as stocks, ETFs, commodities, futures, and forex. This powerful suite of tools leverages instant trade filtering and strategy formulation to show you emerging trades before they happen. For a limited time, you can save $100 off your first month by using the promo code UPGRADE and you still get a 30-day money-back guarantee so you have nothing to risk. Level the playing field with the TAS Profile Scanner which you can find under the Services tab at tfnn.com. Sign up today. Sharpening your skills as an investor is like getting better at playing a musical instrument. You have to practice, sure, and you also need excellent instruction from experts. At TFNN, you'll get advice and guidance from the authority and technical market analysis, and it's not just dry, tedious text either. TFNN airs live financial content streamed live on tfnn.com and TFNN's YouTube channel with Tiger TV, live every market day from 8.30 a.m. to 4.00 p.m. Eastern for free. Each host is an experienced trader and can 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. We're back, folks, and I wanted to chat with you just a little bit about the chart that I just posted. I hope you can see it. It's a dollar index. If you can see it yourself, if you pull your own dollar index chart out. Now, what we've done today is done none other than to take out the high of the last two weeks, which was up there right above that 95 level. I think we got to 9512. The old high was 9509. Folks, that should have been a lot higher than that, given the fact of news the way that it was. That's very, very important to me because that thing should have really skyrocketed and the same thing with the Euro, even though it did break down. It should have broken down even greater than what it did. That doesn't mean it's not going to later on, but it still goes a lot lower. That's absolutely the way you want to do this. Hold on. I'm getting a message here from TFNN. Maybe someone's calling in. Shut the front door and raise the rent. It's none other than Mr. Z. How do you be? Mr. Presidento, you've raised the rent too many times. Man, I'm over the moon. Hey, trust me, brother. We got lots of them out here, too. What's up, buddy? What are the compare notes with you, please? On December Gold, Comix Gold, very people in the Tiger's Den know exactly what I do with Gold and why. And so I've done the work myself and I trade it. And I wanted to compare notes and ask you just to share your thinking. Not on today's trade necessarily, but here's what I wanted to do. I wanted to compare notes and ask you just to share your thinking. Not on today's trade necessarily, but here we are in December Gold, 1807. Let's keep in mind, Gold rallied from 2018 a low in 23 months time and went from 1160 up to 2070. So rallied 85% in two years. We've now gone sideways. We pulled back from that August 2020 high up to 2070. Interestingly enough, we've made a triple bottom this year. March 1st, April 1st, and then August 8th on that slam of jama on Sunday nights down there at that 1670-75 area. So we've gone sideways, corrected lower, pulled back at 20%. Any student of market history would say, oh, hey, after you've gone up 85% in two years, if you pull back 20% and take up a year, you know, that's nothing unusual. We've seen that sort of phenomenon many, many times before. So that's the history. We're at 1807. What are your tactics? Please just share your line of thinking. Not today's trade. About how you will handle gold buys or buys in December or then February gold. How you'll handle that if we start to emerge higher. And of course, we haven't yet. We're just in a range. We all know that. But how are you going to handle gold futures trading if we start to move higher? And I guess the first thing would be to break out over 1835. So that's my question. I'd love to just listen and hear your thoughts. Well, I'll give you my two cents worth. And if you pay more than that, you've overpaid, my friend. But here it goes. We made a low the other day. We were buying it there at 1760. It was a perfect Gartley pattern. Had a beautiful double ABCD there at 1760. The low was 1759. We sold it out at 1796. We bought it back on the 382 retracement today. I posted that chart in the den just a while ago long before it ever happened because I sent it out because I don't have any videos to talk from, but I did send it out in a group to the folks to say, look, pay attention to this one because it looks really interesting. And the 382 was 1786 and it went to 1785. It's now $22 higher. And I don't think you have to wait till 1835, my friend. I think if you can get this thing anywhere close to 1815, that's going to be really strong enough because we're way above the 78% level already. That came in at 1802. And so that's a really strong indication that we should be going higher. And I really believe that we're going to have a major bull market in gold sometime in the future. That's about as close as I can get to timing. I went through the timing stuff yesterday. I remember I was saying this may be something really significant in the stock market and it wasn't. So I have to say, well, I better stand aside. This is the kind of action you'd like. See, getting back to the gold, it just looks very bullish right now. It really does because if you just did the measurement on that, it's going to take it at least $100 higher. Because we ran up $100, backed off 382 and that's going to take us $100 higher. Thanks so much for articulating those thoughts, Larry. Just a follow-up, please. You bought it last, excuse me, you bought it earlier this week down there at 1760 for the reasons you mentioned. You saw an opportunity this morning for the reasons you mentioned. Okay. So far, so good. Given those actions of yours, given what you shared with us just about a sense of what your outlook is, is this a time and a place in which you gravitate to building multiple positions in hopes of capitalizing upon a larger move? You know, John, I'm in my eighth furlong. I'm an eighth furlong in one ten-yard stretch, so I really don't really care about doing that. I'm interested in being consistent with the trading that I do each day. I do trading each day, but I'm not worried about building. I have gold that I've held for a long, long time. I'm not going to touch that. And who knows who's going to, and the family's going to touch it, but I probably won't. Well, John, I'm talking about stuff that I've got kookerans I've paid $100 a quarter for. Yeah, I understand. I've listened to your stories now. Yeah. Frankly, I think the first time I heard your voice, I think it was 2007, just after you met Tom at one of the mother shows or Traders Expo, so yeah, I got that. Yeah, that's really, because when I do the things for TFNN, I make it a point to try to make money for the people that pay for it every month, so I'm looking to make a trade every day or every other two or three days, which is not very much. I mean, the soybean oil, look at that one. That's dropped four handles down, and it's in the midst of when China is supposed to be seeing in the news that China is in food rationing. We haven't seen any of that from our friends over there, but again, that's probably false news. So all I try to do, I don't really build the positions, I try to make a major move like I did when I was a lot younger. I don't have to take those risks anymore, and I guess it's just my style. One last party thought I'm going to share with you. Sure. I say this to myself all the time, and I'll just share it with you publicly. Beware, beware, beware of the stories that emerge after major market moves, either up or down, in any market. So we've had major moves that really began, whoops, are we running out of time? No, no, no, no, no, no, no, no, no, no, stay with us, please. Can you do that? Can you stay with us? Yeah, we'll do. Yeah, please do. Mr. Z, it'll be right back folks, 877-927-6648. Are you having fun trading the markets, but having trouble finding like-minded individuals to discuss your trading and investment ideas with? Become an Apex Predator in the trading market and join the Tiger's Den Trading Room only at TFNN.com The Tiger's Den is an exclusive trading room where successful traders from around the world come to exchange trades and ideas. Join the den and surround yourself with the sharpest minds in the trading world. Subscribers to the Tiger's Den are also the first to have their questions answered live on air and can privately chat with our TFNN hosts live during their shows. Interact with other Tigers and Tigers' as they share trading ideas, news analysis and discuss the market action all trading day. Subscribe to the Tiger's Den risk-free with our 30-day money-back guarantee and become part of the TFNN trading community. TFNN Educating Investors You could be making money off the stock market and if you're already making money off the stock market you could be making a lot more. Check out TFNN and Tiger TV and get expert investing advice to give you the power to control your financial future. Go to TFNN.com and find the newsletter for you. Whether you're into trading gold, metals, futures, currencies or options you'll get advice and analysis to help you seriously get ahead. TFNN also features trading services with a 30-day money-back guarantee for new subscribers as well as TFNN's Tiger Den trading room, trading software and educational webinars for all trading levels. And make sure you check out Tiger TV for free on TFNN.com or TFNN's YouTube channel for live financial content from 8.30 a.m. to 4.00 p.m. Eastern on market days. Stop watching on the sidelines while other people get rich and become the investor you were born to be. TFNN Educating Investors 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 guardleafs, ABCs, butterflies and much more. The Art of Timing the Trade Charts is designed to help you when scouring the markets for stocks just beginning to form the trading patterns that many investors spend days, weeks, or even months searching to find. And right now we're offering licenses available at only $79 a month. We are so confident that you're going to love this new charting software that will even give you a 30-day unconditional money-back guarantee. Don't miss out on this incredible new piece of software. Get your copy of the Art of Timing the Trade Charts today by visiting TFNN.com This segment is brought to you by Think or Swim. For more information, just click the Think or Swim banner on the front page of TFNN.com Okay, we're back folks. We're talking with Mr. Z out of Philadelphia, and John, we were chatting about the positions in gold and stuff. I hope that answered your questions, but, you know, I just don't do that anymore. When I was managing money those years, I certainly had to do that because I didn't do a lot of day trading. I did a little bit. John, I don't know if you watch Bloomberg very much, but Lloyd Blankpein, I forget what his last name is, he used to run Goldman Sachs. They were interviewing him last night. You know, he's retired, and he really had a great story to tell. And here he is, the CEO of Goldman Sachs. Do you know that he was day trading every day while he was the CEO? He said he loved it that much. He said it's a thing that keeps him young. He said he likes it. He said I make a few bucks doing it, and he said I just love it. He said the facilities are such that you can trade anywhere in the world at any time, and it was really interesting. Listen to him talk about it. And you could see the sparkle in his eye. And Eric Schatzker said, he said you're like a little kid when you talk about this. And he said, yeah, he said that's what it makes me feel like. It was really cool, you know, to listen to him talk about that. So I was thinking of you when I saw that, pal. I learned a great deal from he and some of his former colleagues. And I agree with your observation right there precisely, Larry. Adding to that, recall back in the early 80s, Sally bought Fibro Brothers, the commodity dealer. Sure. About the same time, Goldman bought J. Aaron, another forex commodity trader. And just remember, Blank Fine came out of J. Aaron. So he was schooled as a very young person as a trader. And we all know of the reputation of Goldman Sachs been in business for 150 years now. And I recall vividly sometime back in the 2005 to 13 time frame, I don't remember when. Blank Fine was interviewed where he shared with the host, shared with the host a tip, actually a rule, that he told his chief traders and all their subordinates, all the traders that Goldman had back at that time. And that is, you are trading, you've got market positions and your job every day is to sell or buy a little of what your big positions are to prove to yourself you've got enough market depth and liquidity such that if you need to exit a position selling along or covering a short, either at a gain or a loss, you'll have the capability to do so and you'll know you've got that capability because you're active every day. Not moving big positions, but nibbling to stay fully engaged with market character and the amount of market intelligence and market character you can pick up upon is just terrific when you're doing that daily nibbling, if you will, around your core positions. So I took that to heart long ago and that is an absolute truth in trading. So Blank Fine certainly knows of what he speaks, no doubt about it. Sure does. Anyway, my friend, thank you for joining us and keep us informed whenever you're looking at some stuff. I know you do a great deal of work for TFNN in there for the folks there and that, Dan, is a great place to go if you're home and you're worried about not having any friends. Dan's got a lot of really smart people in there with some really good comments. So thanks for doing what you do. One funny follow-up, I called and asked you two weeks ago about the New York Board of Trade coffee markets. Yes. And some time has passed and I've done only one trade since. That coffee market is range bound near the highs. What I'll share with you is this. Bottom line, there's the potential that this coffee contract, and I guess we'll have to roll to the March coffee contract next week, there's the potential of some significant decline. The reason I say that is this in July and early October, that contract made a double top at precisely, I mean, within one-tenth of a point of a double top at two-fifteen. This week, there was a C to D leg of an ABCD bounce pattern that ceased rallying exactly in an ABCD projection and also exactly at a FIB 786 level. I think the high was 212. So we break one, you know, pick a round number. If we break $2.97 next week, we could have some aggressive selling. I just share with you something that I'm looking at. No forecast, but that's of interest to me. Well, John, I'll be focusing on that over the weekend for the 24-7 futures part because I do watch coffee for you and a few other folks, so I'll be doing that, and I agree with you. We had that 195 area which you were talking about a few weeks ago with a beautiful ABCD down, and I think we rallied 24 cents from there. Didn't we get up to almost a new highs? Within three cents. Back on Monday or Tuesday exactly. Larry, thanks so much for doing the show. Thanks for calling in. Okay, folks. Let's talk just a little bit about what you do when you're wrong in these markets. We've already talked about that with the ZS, the fact that once it gets above that 1.618, you don't have to chase a market because the market's running in the direction of the trend. That's certainly it. Remember yesterday I was talking about the key price of $46.78 in the E-mini S&P, and if you want to see how important that was, go look at your charts this morning, folks, because once it went to $46.78 in a quarter, it never looked back. It went all the way up to $47, I don't know what the high was, $47.12, $47.13, but that's a real key number. The fellow that gave me that from over in the UK, and not John Jamison of somebody else, but he said if we get above that $47.00 and we've certainly done that, the type of action that you're seeing today with this emotionalism is the kind of things you like to see because it doesn't come around very often. We showed you the fear and greed index over 85%, and it'll probably be a lot higher than that by the end of the day. So those are a couple of the things that we want to really watch as we get ready for next week's action because we're going to start to see some stuff that is really good. You know, you get a lot of things in the news, let me get this prepared for you, hopefully you'll be able to see it. This is the chart of Peloton, folks, I want to get this up here. I'll have these I'll have these things done here pretty soon here. If you'll notice here, this stock went from $175 today it's trading around $58. Now that's more than 10%, well, I'm joking around. But anyway, look at this, you have a big ABCD pattern up there at the top at $175. Then you see the little red line there, that's a lower tops telling you the trend is changing. And that line tells us that we've got to pay a few bills, 877-927-6648. 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. If 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 before you make one of the biggest decisions of your financial future, call Tiger Real Estate LLC today at 727-329-8322 or email us at tiger at tfnn.com. That's 727-329-8322. Call us today. The technology around us is changing every day. With so much happening, it can seem impossible to keep up with all the information. David White's investment newsletter, The Technology Insider, is designed to give you all the information you need to understand the technology that shapes today's markets and tomorrow's future. David White has made his living staying on the cutting edge of technology. His weekly newsletter will give you specific recommendations for valued tech stocks as well as entry prices, target prices and stops to set for each trade. Dave delivers his weekly newsletters every Friday with updates throughout the week. You can get The Technology Insider at tfnn.com for only $37.50. Sign up for David's newsletter, The Technology Insider, and get an inside look at everything the technology sector has to offer. Try it risk-free today with our 30-day money-back guarantee. tfnn. 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 C-H-A-U or C-H-A-D. Directions daily, CSI 300 China A share bull and bear ETFs. China A shares in either direction. Visit Direction Investments.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, please contact Direction Shares at 866-4767523. 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, foresight fund services, LLC. Don't forget, you can listen to tfnn live on your mobile device 24 hours per day. Go to tfnn.com and hit Watch Tiger TV. That's tfnn.com and hit Watch Tiger TV. Okay folks, we're back and one of the things that the people ask me about is doing an autobiography and I frankly I've got a bunch of notes and stuff but I haven't I'm not probably not going to do that. I've been doing this for six decades. One of the things I'm going to do I'd like to get your opinion on this as a matter of fact each time I give a little story about what's going on here and there and a lot of them come from this list that I have but I think if I went through each decade of the 60's, 70's, 80's, 90's even in 10 and 20's it'll give an idea of some of the things that I worked on and how I got to where I am and stuff like that but some of the some of those memories is what I live by I think one of the things in fact one of the things today I was chatting with Tommy O'Brien and I remember vividly when I first was asked by Drexel Burnham to even go to work for them I went to the Beverly Hills Country Club I've told you this story before I went in and I saw Joey Bishop Dean Martin sitting over there and it was late in the afternoon it was about 1.30 there was hardly anybody there and so I went back and I sat with these three Drexel people and they were just really great nice fellows, very warm when one would about my age and I was around 40 at the time oh what was I oh I haven't read 40 I was only about 36 anyway and then there were a couple other fellows that have been with Drexel for a long time he was a treasurer of Drexel happened to be in from New York he was one of them and my immediate supervisor was Bob Zussman he had been with Drexel from the very beginning and so I did those interviews with them but during the times that I was sitting there talking to them those three hours all I could do Dean Martin and Joey Bishop stayed for about an hour and a half but I was just literally overwhelmed with I don't know what it was euphoria I guess because I'd been around movie stars I'd seen them because I lived in Westlake Village we had a lot of them there but that really sort of made me made me realize this was a different era I was going into and so from that area when I finally went to work for Drexel about two weeks later the first thing they did is they sat down with me and they said look we've got a lot of customers here we're very famous he said some of them you don't even know who they are he said but they're all very very important he said our customers are accustomed to making money and our customers are accustomed to losing money he said the one things that our customers are not accustomed to and that is losing all their money and he said we don't want you to do that he says we're not going to let you do that and I said I think that's a great idea he said how are we going to do that if you get 25% of the money we give you then you're going to be put on a sabbatical for a month until you figure out what you did wrong well I never had to go through that I think the biggest drawdown I had in the six years I was there was about 10% I probably did that a half a dozen times and that probably relates to those six letters that I had for resignation but I made it through all easily enough but that's what it was really all about folks that I was going to be working with and they were so very, very helpful to me on everything that I did and I think I don't know if you're going to like stories like that but you got to remember folks when I started there were no books and stuff like this the only books you could get on trading were at places like the investment center bookstore in Santa Monica nobody had stuff like that I've got more books than he had I've got probably 3,000 books over the years all related to trading and stuff like that but when I start writing when I started doing my autobiography the main books that occurred to me when I was first starting right out of college and stuff basically I was looking at things from Napoleon Hill and W. Clement Stone and I can't even remember Tom's the young man's the salesman that was really, really smart I can't even remember but he was a very good salesman it was all about positive thinking and stuff like that and that's what got me into that and then of course when I got into the 80s I worked with Anthony Robbins he was just a kid, he was only 20 and I think he charged $100 for his first lessons and he was just as good at 20s he was with 40 things that I'm going to cover most of it's going to be related to during the 50s the 60s who I met during that time what did they help me with my trading because some of them were my mentors they actually pushed me in the right direction other were people that I met and that I admired Roy Longstreet and his son Bill and a whole bunch of other people especially on the floor of the exchange I met so many people there I realized how important they were and what great traders they were but it wasn't about the money it was what they did with it after they made it and that's what really was the important thing that I picked up during that time I've remained friends with many of those people well except the ones that have passed away and I'll be having friends with them someday soon but my closest friend of course is Byron Tucker and I'm in contact with Byron every day and he is still in contact with Leo Malamed and some of the other folks that we knew there but I think the lessons that I learned from some of those people we can all we can all learn from because I think it's important to do that but when we do the state trading thing it's there to make money folks and we would have had one heck of a day today because we were looking at some things that were really coming together that soybean oil was breaking down to its target the euro was breaking you know really hanging in there pretty good so we'll see what see how these things end up today but we're having some really good swings and that's the main thing the other one was the natural gas was another really good moving trade today and of course the crude oil crude oil was one of the easier ones as was the gold because of the fact that we were sitting there at such a beautiful level 382 just as a time that the report comes out and we know how people react around those reports it might not have worked but if you put a buy in at 1786 and the low was 1785 you didn't have to put much of a stop on that because it gave you about a $7 profit before you could even put the stop in but what we do is we put the stop in at the same time we put the buy in because sometimes these things go straight down instead of straight up and that's what we're trying to look at while we're watching here so I've been doing this stuff a long time Bubba's let me tell you something what you're seeing today ain't the beginning this is not the beginning boys this is not it remember little Archimedes when he was sitting in that bathtub scrubbing his back and all of a sudden he said Eureka Eureka well Eureka Eureka was a buoyancy of that water that made the soap float and that's what's happening to this market we're making some type of an historic high I don't know how much higher it's going to go and frankly don't care I'm just waiting to see a nice little pattern that tells me say Bubba you don't have to risk very much to get short here and that's what I'll be watching for and that's the main thing that we try to do when we're doing our 24-7 especially you know when we're doing the day trading we'll set it up and we've done three of these and they've all done very very well very profitable and I'm pretty sure this one's going to be good because we got Tommy Hougart will be coming in helping me and sharing great information and we got some wonderful stories together if we have some time to actually do that also so that's I think I've told the story how I met Tom he was uh oh we'll do that later hey let's take a break 877-927-6648 sharpening your skills as an investor is like getting better at playing a musical instrument you have to practice sure but you also need excellent instruction from experts at TFNN you'll get advice and guidance from the authority and technical market analysis and it's not just dry tedious text either TFNN airs live financial content streamed live on TFNN.com and TFNN's youtube channel with Tiger TV live every market day from 8 30 a.m. to 4 p.m. eastern for free each host is an experienced trader and gives their take on the market while taking calls and questions from around the world from the moment the market opens until the closing bell sounds Tiger TV has 8 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 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 and 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 are you looking for a secured investment which pays you on a monthly basis the target first mortgage program may be the program for you the best rate on a 5 year CD in the country right now according to bankrate.com is paying 1% per year $1,000 per 100,000 invested the target first mortgage program pays 7% per year paid monthly on secured high value buildable properties in St. Petersburg, Florida the investment is for 4 years paying 7% per year $7,000 per 100,000 invested your investment is secured by high value real estate in St. Petersburg, Florida your investment can be anywhere from 100,000 to 500,000 do you want to make $1,000 per year on $100,000 invested or $7,000 per year on a secured target first mortgage the target first mortgage program may be just the program for you the target first mortgage program pays 7% per year paid monthly for more information you can call 877-518-9190 that's 877-518-9190 okay we're back folks and I wanted to mention to you one of the things when you're when you're investing in stuff and you buy things and you hold them for a long period of time you've got to remember that certain times a long way things might change look what's happened to Peloton folks this was one of the great stocks I mean this thing went to $175 now it's down to $59 you've got to figure out some place along that line where you want to get out of it you know that's the main thing that what you want to be doing and that's what patterns will help you do it tells you something's changed from what we're looking at right now I mean we've reached something in this I think we've only seen this one other time where we've been up I think 16 out of 17 days we had one down day and that hasn't happened just prove it to yourself defy human nature like 20 men says and do the work yourself shut the front door and raise your head absolutely sure that that hasn't happened since well you have to go back and look yourself because I did and I think you'll be really surprised the last time something like that happened you'd be I think you'd be very very surprised anyway as we look at some of these things coming into this week you know we're having a just we just broke out of gold we just broke above the 1812 level Z was looking at 1835 if we can close above 1850 that would certainly be a good thing to move but remember let's move $30 folks from the 382 retracement that came in at 1885 and and we sent that out you know long before you know the markets opened last night we sent it out we were still trading at 1892 and then it went down to 1887 into that spot so that's what we're trying to do as we look at some of these each time as we go through these so remind yourself folks that you know help your neighbors because it's even though there's a lot of the economy is wonderful and everybody has full employment and everybody has a chicken in the pot a lot of people don't we have a lot of homeless people here in Tucson which is really quite surprising because of course the weather's nice that's one of the reasons why the homeless live here but try to help folks out because especially the veterans because some of them are really in bad shape to live every day in an attitude of gratitude and may god bless