 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, I'm looking good Billy Ray feeling good Lewis We're gonna take a look at the German Dax and also the foots that you see they are following along with actually they they were moving along before ours did because we started late Sunday night and And continue down I'll cover that in just a moment I just wanted to do a few other things here our guest today will be Paula Douglas Marks Widow and she will be she's been carrying his torch now for four years doing a great job on Wednesday, we're going to have Jeff huge of Alpha Insights Friday will be Tim boss I'm going to have hopefully Jeff Cooper either on Tuesday or Thursday and on either those other days I'm going to have Stan Harley as our guest so we got a full Segment of guests that have done a great job here of what we've been looking at in the markets But let me give you my two cents worth folks of what we're looking at here. This all started You're all aware of what's going on in China now. That's the big deal But if you look at the Hong Kong market, this is where we stood last Friday You notice that we went down and made a perfect three-drive pattern and then rallied 500 points We went from 2440 up to 2490 closing right on the high They're supposed to be closed today folks. In fact, Hong Kong is closed. It's the the autumn festival the bootcake festival and This thing just literally they opened it up I don't know still haven't figured out how I've asked several of my friends over there That why the futures market was open and anyway, you can see it was down 3% well over a thousand points And the target on this is at least another 2,000 points to the downside if that's what it's going to do now That's just the Hong Kong market from what I hear listening to Bloomberg that this thing with the Evergrande is About ten times worse than long-term capital that we had in 1998 But then again, that's information that I don't really need to know folks I'm just an old old featherweight out of Terhode, Indiana Just trying to keep above ground here and all I'm doing is just looking at the charts That's really all I'm trying to do now. There's one there's two charts here that really make That are that are extremely important and the one we've already talked about these. I mean it's not Not just You know, we do it every day I mean we talked about the importance of the stock market breaking that key level at 4440 on Friday in the S&P I mean that was a major point But the write these numbers down folks because this is where the the pedals going to hit the metal and the S might hit the fan because 4290 in the S&P is Down one standard deviation folks. We haven't seen that in a long time and as we're speaking right now We are one standard deviation down in the Russell. I mean it's right there right now. There's not well This is where we were of course on Friday, but you'll notice here with the with Russell We are believe we're trading at that 4160 right now and that that is the one standard deviation getting below that That means the options players are starting to get a little antsy and believe me. They're already antsy I've had several questions as why has the Dow Jones held up much better than the others Well, the Dow was down to 680 points overnight and yet During the day session. It's struggled, you know to get under 4500 so that there the difference is folks is the index is because it's made up of different things that The other ones are you know that that's an index of stocks. That's why you've got to trade it like an index It's a bar chart, you know, that's you know, really what we're looking at now I had a couple of questions here that I'll try to answer and The first one is there was an article that came out over the weekend and it talked about How some people in the Federal Reserve system? Thank you very much. Bo. Yep. It's right below one standard deviation right now in the Russell The federal officials own security was buying during the pandemic. It talked about them doing it folks If you think federal officials don't use this stuff to their advantage you you You're you I still have two shares of the Brooklyn Bridge I'd like to sell you but believe me they use it all the time and they don't have to report to anybody because it's a private Organization the Federal Reserve Probably one of the best newsletters written in the last couple years was done this weekend by John Jamison for me And I really hope that those of you that get the letter read it very carefully because it's a history of the crashes starting in 1837 if you remember, that's when we didn't have a Federal Reserve We had the US Bank and that's when Andrew Jackson and believe me folks Andrew Jackson was one of our greatest presidents because if it wasn't for him, we would be speaking a different language So this is this very important to read this so how these crisis occur they occur all the time Since 1837, I think we've had I don't know the exact number But there's been a great deal of them what we do is we try to match the patterns with what we're seeing in the market And to give us an idea of what we are now if we get below that 42 93 in the S&P That's the first sign and especially doing it on the first day That's the first time that this has happened. We've already done it in the Russell the number on the Nasdaq is down around 14,800 I believe and it's close to that right now So if we do it on the first day, that's a real sign that the option players have lost control And remember the options market is six to ten times bigger than the futures market. So protect yourself That's the main thing. I don't doesn't make any difference whether you shorted the Russell up there at the 78% level That it hit, you know, twice in September when we were making the Nasdaq triple top at, you know, 15,700 I mean, we talk about these every day. I mean people laugh. Oh, well trying to pick a top again No, I was just looking at a pattern. That's all I was doing. I don't care whether top or not If it turns out to be a top Hey, stop and think of this folks every major crash has led to a great buying opportunity. Look at it that way You know, how far however far down they go, that'll be a better opportunity for you But if you're if you do get a little bit on the short side, sure, that's great But if not, you know, you don't have to worry about that That's the most important thing is to control how much money you have at risk at any time And I've been warning people for three weeks here to protect your portfolios because, you know Something wicked might come this way and wickedness has already started It started on thursday. It continued on friday and continuing today We're down now. I think 10 days in a row, but that is not true because we went down seven We had that three-day rally at the 382 up there at the s&p at 4480 We hit it three times in a row and then we've then we've rolled over So that's that's why we're watching these Numbers so very very carefully the one thing that's out there that is very ominous that you have to pay attention to And that's this graph from the federal reserve and the fact that the velocity of money Is not moving in other words this thing about inflation May not be what a boogaboo like they're talking about it because the darn thing is really get During the thing okay I just got a little message from the princess here. Okay, we will keep an eye on these things because Thanks folks. I I don't understand the economics of this and I've got a master's degree From a major university in finance and I got another one other degrees don't mean anything I I look at the patterns. That's all I'm looking at. Let me let me show you something that that's really important Well, I've got to do it in two segments Let's take a quick look at the cryptocurrencies here because I want to go through a little bit of a history of this and then I want to I want to Talk about some of this other stuff But here's the the bitcoin way way back when it was trading for you know 100 bucks or something and it went to 20,000 we all know what happened we get back from the break Uh, I believe we will talk about this Oh Markets can rise and fall like the tides Subscribe to basal chatman's newsletter the opening call and you too can ride the wave Basil Chapman is an authority in technical analysis His Chapman wave trading system has been helping traders identify trends and capitalize on momentum in the markets since 1984 TFNN invites you to test basal's proprietary Chapman wave trading methodology with a monthly subscription to the opening call newsletter for only $149 Your subscription to the opening call comes with a 30-day money back guarantee as well as daily market updates on key indexes stocks and commodities Ride the wave sign up for the opening call risk-free today 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 test profile scanner is the premier market profile base scanner Powered by its acclaimed task proprietary algorithms This feature rich scanner instantly filters over 2,500 plus global financial markets such as stocks etf's 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 task profile scanner Which you can find out of 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, 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 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 Call now toll free at 1 877-927-6648 internationally at 727-873-7618 Okay, folks. I post that chart of bitcoin that shows how it went from world roughly 100 bucks back in uh 2012 up to in 2019 it went to Just under 20 000 from 20 000 it went to 3000 from 3000 it went to 65 000 that just tells you that this market is very Very very volatile folks. What I know about cryptocurrencies and blockchains is you could write on the head Of a safety pin on the head of a safety pin in boldface type That's how much I know about that stuff, but the one thing I do know is I know how speculators act They buy when it's going up. They sell when it's going down Let me just give you a quick example one of our favorites that we've been following along with uh, john jameson here Over the past few years has been the price of a cordano. That is a da is a symbol John was originally buying this at around three cents You'll notice here that uh, we made a big abcd pattern with a beautiful three drive and a butterfly And around the first of august at three dollars And uh, three dollars and ten cents from three dollars and ten cents You'll see the market came down made an absolute perfect art. Lee at the 61 percent retracement there at 275 that was just on the 10th of august and now it's been heading down as you can see We're breaking down below. We're getting ready to break below two. It looks like but the abcd structure on this takes it to a $1.55. I know it's only a $1.55 The principle is that these patterns are marked Because they follow what the public is doing and folks. This is how the fibonacci numbers work They work because it's all about fear and greed and that's what you're lucky Hold on here. See you're just service discussing prices and patterns Especially valuable. Well, I just do what I can see that you know, heck I I don't have a uh, oh a little bit of entertainment here just a tiny bit of entertainment One of the things that I like to do don't like to watch football or any of that stuff anymore But I'd love to watch the auto auctions. Now. I'm watching an auto auction on sunday. Okay, and I see this uh in 1983 928 Porsche comes up. Okay for auction and they started at $50,000 You can't give one of those cars away for $5,000 and this one comes out for $50,000 I says, what is this? It must have gold bars Must have gold bars in their trunk to keep looking at the car looking at the car And then they bring it up and I see the license plate and it's an illinois license plate Boys and girls, that's the car that tommy crews drove in risky business Do anybody want to guess what that car sold for? Remember that was the car that was underwater in the lake when they lost control of it. Remember they had to be completely redone Well, it went for 100,000 200,000 300,000 500,000 800,000 1.9 million dollars some bozo bought that car for Now, I know it's a nice car and he could probably get uh If he took it on to a lot it went for a million nine, uh, marshal But the important thing about this is uh, this is some of these prices that these things are going for You remember that you remember the painting that came out that was a uh, I forget what they call it Where it's computer generated artwork In other words, nobody even does it and it's not even signed or anything computer generated Do you know that that's so that saw the bees for 24 million dollars? I mean give me a break boys and girls. You think we don't live in interesting times Oh Indeed we do indeed. We do. All right. Let's move on to a couple of things that folks You know, I've been doing this thing for 14 years You got to be really careful if this s&p gets below 42 93 on the first day like this I know it's I know it's only down a few days from the high But if we did it this quickly, this is this is how it all started in 1987 1987 Secretary Baker was in Hong Kong And he came out and said regrettably and when he said the words regrettably There was no overnight markets. They you know, the regrettably didn't happen right away But there was no overnight markets, but they were ready when we opened the s&p that night Or that morning because we already knew that Hong Kong and some of these other markets They got hit so bad and then it just started to extent accentuate, but remember The 19th was the crash the bottomed on the 20th the low on the 20th folks Was an exact 61 percent retracement of the low from august of 1982 So you want to there's going to be a bottom in here somewhere So there's some really good things happening So we just have to wait and see if you're fortunate enough to be short Then you know wait till we see this next bottom coming in and all this is so far is a correction I mean, it's a bad correction Maybe it's a good one because we haven't had one since Hector was a pup that dog 17 years old So let's pay attention to it 42 93 is the number in the s&p And I believe we went through it already in the NASDAQ and we're just about go through it In the not the NASDAQ but the Russell and I'm about ready to go through it in the NASDAQ So that's another one that looks, you know, really really interesting to pay very close to it Yes, the VIX is up 30% that we're bound to see those we will see a VIX way over 50 60 or 70 Before this thing is over now. One of the things that we watch when we're watching these crashes is how Oh, just a second. I got that one missed up Here we go. Let me this is one of the trades that we did last night We did we do these sunday night videos to light this up We were looking for the euro to come down. We made the exact low We were trying to buy it at 7 117 18 the low was 117 15 And it rallied about 50 pips off of that. So it's in a risk-free trade that that's all it is Don't know anything about what's going on. All I'm doing is looking at the patterns. That's it The bonds still look bearish even though we've had a pretty good rally today, which is a Pseudo flight to quality and we'll find out whether that's going to be too much or not Some people have asked me yesterday was some who guards 52nd birthday and believe me folks He came in short the max On friday night and he has had a terrific day today And so we're happy to see our friend mr. Who guard do so well now I would like to mention to you folks pay attention to one particular chart that we follow here very closely This comes from our friends over in denmark tom's hometown I hope let's try that again larry home country if you'll notice this This is the I want you to pay attention to the far right abcd pattern. You see that abcd there the big red one Okay, that's what's happening right now that 382 number In the gold is at 1770 we got up to 1768 So that's a small abcd now if gold breaks down below that Uh-oh look out and this may be one of those deals where it's not a question of you know What you're looking at it's looking to be for a flight to quality or just to stay out of it Remember the words of bernard baruch in his main in his auto his His autobiography autobiography called my own story He said in there the stock markets and and markets financial markets exist For one particular reason he said it's to take as much money away from ignorant people as it possibly can The words i'm paraphrasing it but that's basically what he was saying so be careful You know use some common sense always use stops i've been saying this For 14 years because if you don't use a stop you're telling the market You know more than it does and that just doesn't happen We're going to have paul a douglas here pretty quick and i've known her for a long time She actually married sarah and i and mark being my best man and also my best friend was sort of a family get together and uh, unfortunately His birthday would have been a week today. He would have been 69 today and his how old he would be anyway, we'll have paul on she's done a great job eight seven seven nine two seven six six four eight 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 markets 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 these 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 tiger's 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 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 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 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, I believe we have paula tomasini web douglas on the line. Are you there pt? Yes, I am larry p What's up? Hey looking good billy ray feeling good. Everything is good It's hard to believe we've done each other for so long Hey, you know before you start your little Show tell tell the folks how long You and I mark you and mark work together on this because you you read every piece of paper that he wrote at least in times Do you want to give him a little background of uh, wait how you met and how long you were married and stuff? Sure, uh mark and I met in the fall of 1984 He was just about to give his first presentation to some investment conference I don't even remember what it was Copy track it was copy track And he needed his speech typed because it was just all on legal paths and you know guys This was way back in you know cavemen time when Not everybody had a little you know personal computer so You know a mutual friend introduced us. I went over there and started typing and I have to tell you We worked from three o'clock that afternoon until midnight And I was toast. I was history. I fell in love with his brain immediately then he took me out for a late dinner and We were inseparable from that point forward so We started working on the discipline trader shortly after that because He was a retail broker at Merrill Lynch and I was a floor trader And ran the floor operations before that at the mid america commodity exchange the first exchange to offer many contracts So our our two perspectives really melded together greatly Now the reason that my name My name is not on either book was because again way back when in the late 80s The fact that there was no such thing as trading psychology. It was completely unheard of as you know Larry and so our publisher penguin random house Felt that they were even taking a chance on publishing the first two books So there was no way they were going to put a woman's name on it, especially somebody, you know They didn't know me. They didn't know mark But so they put the man's name on it. But after those two books, of course, my name got went on everything and So mark and I got married in 1991 and we were together You know, unfortunately till he passed away um And along the way we did a lot of work with Larry We did a lot of workshops together and those were lots of fun and uh You know, so I'm not filling his shoes. I'm I'm just continuing our collaboration You're carrying a torch. Tell us what you're looking at today pt Well, what we're looking at today is I just want to remind everybody that first of all that the markets are not going anywhere I get a number of traders calling me saying You know, the world's collapsing with all this pandemic stuff and is wall street going to be around tomorrow And and so they're they're fear based in their trading So first and foremost wall street is not going anywhere And let's be honest if wall street crashes, we're all dead anyway. So what's the difference? So why worry about it? Okay That's for sure You know, but on top of that the other thing is that we truly are living in an age where we don't know what's going to happen Not just in the markets, but across the planet And so you have to adjust your mindset accordingly and that's kind of our focus going forward is that Truly embracing what we've written and taught for years is that you don't know what the market's going to do And now you have to understand that you don't know what's going to happen anywhere And so you have to expand your mindset to understand that Yes, you can make a calculated guess. Yes, there's a probable outcome But you still have to be open to being being able to navigate whatever happens This is true, right? I mean, that's what you teach to Larry. So well, you know, trade what you see Yeah, we learned together. That's for sure Right both the folks don't know but mark wrote that book trading in his own here in the in our office here In Tucson, Arizona sure did that's for sure um Paula do you offer certain services because you you of course you're your ordained minister and you've got all kinds of degrees and stuff But uh, what what is that? What's your your main focus now when you deal with folks? Is the mental part of trading like mark work with or do you do all facets of it? No, it's it's still focused on the mental aspects. Um, if you're not Thinking like a winner You're not thinking prosperously if you're not thinking confidently then you can't sustain Your success you'll have cycles, you know as we say boom and bust You know, they may not be tragically boom and bust, but they won't be consistently rising equity curves So you have to really De-energize any limiting or conflicting beliefs that you have and a lot of times traders don't know that they have conflicting beliefs And so that's kind of what I helped them get to the root Of is finding out. Oh, okay. Yeah, this is really I don't need to think this way anymore You know just expanding your your mental perspective to be open to all opportunity I remember a period when uh, when mark was very well, he was always involved with neil walsh And I think that was a very very important thing about the mental part of trading because I when I first met mark in 83 And we were looking at those things from maryl ancient stuff and It was just totally amazing to me that I had not looked at the mental part I had little bits and pieces, you know, you know, keep your loss of small that kind of stuff but to to really focus on You know thinking about winning and stuff like that and and risk control I never really dawned on me. Fortunately, we became such good friends and it became engraved in me and it turned out to be You know blessing and I remember that we used to do the seminars here here in tuson We'd have folks come in from just about everywhere to You know, yeah, we should do that in palm springs to paula. We should we ought to do a live seminar As soon as this Covid stuff gets out of the way I think we'd have a pretty good crowd because we always did a three-day gig We do one day of live trading and two days of talking about the mental part of trading and trading strategies and got everybody walked away With, uh, you know a great deal of anticipation. It turned out to be great Yeah, those those were fun. I mean, I'm still doing one-on-one workshops. I mean, I've never stopped doing those And uh, but they are live. They're not recorded. They're not, you know, on the internet You know, unfortunately due to, you know, internet piracy and that kind of thing, but Yeah, I mean my my last student was a gal who came over from switzerland And she brought her four adult children and so there was five of us and We sat here and rocked and rolled for two and a half days and then they loved it so much You know, they stayed on for another day So It's it's really a lot of fun. As you know, we love doing it and um, you know, let's Well, let's definitely plan on something Soon, you know I remember the seminar we did in 1993 when we had the hockey players there from the 1980 Oh Cali and jack use and yeah, that was that we had such a good time I remember mark got up and kept talking about, you know, how much he loved hockey and how much he liked the olympic games And they raised their hand and they said, yeah, we were there And mark's like, oh you you went to the game and they're like, no, we were the game We were in the game and I know and mark's draw just about fell open. He's like, oh my god It was it was really cool And then you had that play you had your your award thing that time and jack took him over to the The what's they call that center there and in chicago where the bowls play and they took the Blackhawks, yeah And they gave mark the gold medal to to where to you wore it. Yeah. Yeah, I still have Still got my picture. I still got mark's picture and Yeah, they stay stay with us. I want to let the folks know how they can reach you We'll be right back with paul and duckless folks 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 called tiger real estate llc today at seven two seven three two nine eighty three twenty two or email us at tiger At tfnn.com that's seven two seven three two nine eighty three twenty two call us today the technology Around us is changing every day with so much happening that can seem impossible to keep up with All the information paper whites 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 value 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 thirty seven dollars and fifty cents 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 chau or chad directions daily csi 300 china a share bull and bear etf's china a shares in either direction visit direction investments dot 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 eight six six four seven six seven five two three a prospectus or summary prospectus should be read carefully before investing an investment in the funds is subject to risk including the possible loss of principal the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor four-side fund services llc don't forget you can listen to tfnn live on your mobile device 24 hours per day go to tfnn.com then hit watch tiger tv that's tfnn.com then hit watch tiger tv okay we're back folks we're talking with paula douglas and paula uh tell the folks how they could reach you please okay you can reach me at www dot mark douglas dot com and that will take you right to our website and on there you'll see all our all our products uh you know i do one hour consultations uh all the way up to you know keeping you on track on a regular basis but everyone first off gets a free 30 minute chat with me to see how they can improve their trading anytime just call me email me set it up and uh we'll go from there that's fabulous one final thing i know this is september is a what we call a bit ch month for you because your your birthdays and stuff uh mark passed away just a few days after your birthday wasn't it two days right before right before yeah remember that and i know his birthday was at 27 paula let me ask the question i'm trying to get to is mumbling around here is if you were to uh if we were to do a seminar like this uh i think we could get arch crawford and rich anderson some of the old group to come out and you know give talk so let let's let's explore that maybe doing it either here in tucson or let's do it actually probably palm sprint well the flights are about the same so let's talk about it maybe uh for the spring maybe phoenix phoenix is good too yeah let's do that i think it would be fun i bring out the old grand phoenix would be easiest i think for everybody just to fly into yeah i mean i can just drive over because hitting the palm spring is a little problematic because then they got to take two flights and phoenix might be good okay and we're going to have you on again soon so we'll talk to you then okay okay thanks larry thanks thanks all you traders have a great trading day okay thanks a lot there is a there is a class act boys and girls let me tell you that's uh you can't ask for any nicer than her but this is a very important chart that well they're all very important duh duh because where we are right now in the old dollar index is very very important let's take a look from my perspective because it's a uh let's get this up here because it is a head and shoulders pattern if you'll notice here let's get this up here there you go there is what i'm looking at this is that i send this video out of course sunday night to show you that we have a potential for a head and shoulders pattern uh in the dollar index the left shoulder and the right shoulder equal the time distance between the left shoulder and the head and the right shoulder and the head is equal that makes it a perfectly symmetrical pattern this is what dandru low he required it to be a head and shoulders those were his requirements and so if you'll notice here the red line that you're looking at right here this is the inverted the inverted line for the gold in other words if the dollar goes up gold goes down because this is inverted gold that red line is the inverted gold chart so this is why this is so important this is why this pot this pattern that we're seeing in gold it has a possibility to be a major bottom i like nobody else i don't know where the bottom is all i can say is if we can exceed the 382 retracement in the gold at 1770 i mean by you know three four five dollars and more the better then we'll have a really good idea that yep that bottom is in and you want to get ready to buy that first harmonic number the first pull back back because then you got a really good place to look at it but right now it could go either way that head and shoulders just sitting there if you'd looked at the euro it's the upside down version of this you know that's why we were taking it instead of going in the gold which is much riskier we bought the euro at that right shoulder it's so far it's made three four hundred bucks doesn't mean much but now we're in a risk-free situation because now we don't have to we don't have to worry about whether the thing's going to go the other way because we basically have it risk-free now might it might turn out to be a pretty good one and it might be one that just turns out to be a non-winner but a non-winner is just like a just like a winning trade because you can't count it in the losing the usually common okay mr z asked me when i was in chicago i was in chicago from january of 1982 until august of 1983 august of 84 and then i went to commodity corporation for a couple years there in princeton new jersey and then back to california and then to tucson and i've been here ever since hard to believe folks i'll stop and look at this thing and i'm 80 years old and i love this stuff as much as i did the day i have i thank god that i stumbled into something that i really like to do i know what i do is relatively simple and i know it's as boring as heck but by golly it works for me and it's fun and it makes everybody uh well not everybody's happy of course but you know it's a good way of uh you know approaching the markets and fortunately i made an association with tfnn back in 2002 and that's worked out really great because all the friends we have here and then the people that they have in this room here it's just you know truly amazing you know you they tom tommy basal Chapman we got the people from thinkorswim uh steve rhodes david white and plus the other stuff it really does add a lot of stuff and we got mr z in the room plus the other people that post things and mr z is about as good as traders you're going to find and he posts all of his trades in there let you know so look at so it's a good thing if you're if you're lonely and you want to learn something go to that tfnn website join the room there it's not very much and then you can see what they're trying to uh post and that's what i what i think is uh what is important so i and not only that i appreciate all of the stuff when i when i get when i get comments that you know you know try to clean up your act or whatever i appreciate that and if you want to see something you know i'll be happy to post it if i can we've we've done this before we'll probably do it again because i i got to you know shake up the tree a little bit and do things a little bit differently so those are the main things i i think that that that the key price folks write this down and we came haven't come close to it yet but 42 93 in the s&p we've already broken on the in the yurt russell and we've come down close to it didn't quite get it in the naztac the one standard deviation but that's it when you see stew tan when you see let's try to get the words out of your mouth larry one at a time when you see two standard deviation move there's trouble in river city as robert preson would say today and you're looking at something it's going to be really nasty remember we've gone from what uh i forget where we were in 2009 the dow was at 6600 and now we're at 30 we had just just missed that the old 35 000 level and we we were we were trying to emphasize the importance of that you know all during the time when we were you know doing these charts and everything so i think it's important that we realize that when we're looking at these charts that that that they give you an idea of where support and resistance is and where trouble could actually you know come in and that's what you really want to stay out of so that that's just my two my two cents worth that's uh it's all i can tell you we'll see here's a couple of charts that you got to pay attention to this is this is where the real problem lies folks this is that the junk bond market you'll notice that 80 percent of the junk bonds have a negative return now you could explain to me why somebody's going to buy a junk bond at a negative interest rates i guess they're just looking for capital appreciation that's the only thing that i can look at i i can't see that but here's the one that's the most scary of all i got these from the uh hold on one second get this up and look look at the money that's come in here in the last year the money flowing into the markets into global equity funds this covers this year did more than the other 10 years totally combined and the problem with that is folks there's a lot of people out there that don't have any skin in the game and don't know what markets are all about and theirs are the ones are going to get hurt so let's be careful eight seven seven nine two seven six six four eight 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 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 our kids can rise and fall like the tides subscribe to basal chatman's newsletter the opening call and you too can ride the wave basal chatman is an authority in technical analysis his chatman wave trading system has been helping traders identify trends and capitalize on momentum in the markets since 1984 tfnn invites you to test basal's proprietary chatman wave trading methodology with a monthly subscription to the opening call newsletter for only 149 dollars your subscription to the opening call comes with a 30-day money back guarantee as well as daily market updates on key indexes stocks and commodities ride the wave sign up for the opening call risk free today 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 five-year cd in the country right now according to bankrate.com is paying one percent per year or one thousand dollars per 100 000 invested the target first mortgage program pays seven percent per year paid monthly on secured high value billable properties in st. petersburg florida the investment is for four years paying seven percent per year or seven thousand dollars 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 you want to make one thousand per year on 100 000 invested a seven thousand per year on a secured tiger first mortgage the tiger first mortgage program may be just the program for you the tiger first mortgage program pays seven percent per year paid monthly for more information you can call 877-518-9190 that's 877-518-9190 hi folks this is steve rhodes stay tuned for another great hour of the trader's edge heard here at tfnn.com okay folks uh here's one of the charts that we've been talking about for quite some time this is the amazon daily chart you can see the head and shoulders pattern again the right shoulder has to be either even or equal to the left shoulder the time distance between right shoulder head head and the left shoulder it has to be equal which it is and you can see we had a little bit of a break the rally friday was right at a 61 percent retracement back at 34.95 and we are down a hundred and some dollars down about five percent today in amazon which is quite a bit leaving another another gap you notice that we did fill that gap that it left at 35 35 and we went down to the 61 percent retracement there at 3175 but that is a perfectly symmetrical head and shoulders pattern you really need that symmetry that doesn't mean that you can't trade against it but if you want a perfect head and shoulders pattern you have to you that's what you have to do if you look to the left of the chart folks where it says amazon daily and then go down you'll see the head and shoulders pattern that was there on its way to the double bottom again you have a perfect symmetrical head and shoulders pattern with the left shoulder and right shoulder right shoulder being lower the distance between the left shoulder and the head and the head and the right shoulder all equal and that what gives you your thing and then also you see the gap down so if you're looking at this the abcd structure here on amazon is going to take it down to 2940 we've got another 500 points to drop in amazon that's uh that's what it looks like and until something changes that's what you have to go by so that's a few of the things that we're watching here so live every day in an attitude of gratitude and may god bless i believe don't forget on wednesday we have uh tim boss up let's let's try that again larry jeff huge alpha insights is on wednesday tim boss will be on friday hopefully we'll have either stan harley or jeff cooper tomorrow jeff cooper is old old time friend from 30 years ago his father was a legendary trader in the beverly hills area and he's a specialist in gand so those are the things that we're looking at so use stops folks if you don't you're in big doo doo