 The following is a presentation of TFNN. The Power Trading Hour with your host, David White. Call now toll free at 1-877-927-6648 or internationally at 727-873-7618. Now, David White. And welcome all to another excellent edition of The Power Trading Hour. And what do we have going on to today? Well, we had kind of a pullback yesterday and then a ramp today. And I think we're in the last throws of a big move into earnings over the next couple of days. Hopefully everybody can hear and see me now. But I do not know. But that's it. So anyway, as always, another excellent edition of The Power Trading Hour. And we're coming to you at this time. The following takes place between 2 p.m. and 3 p.m. So, okay, they can hear me in the den loud and clear. Good enough. Okay, what else do we have going on to do? Well, as I said, I was looking for a bearish setup. Or let's let me say in the last couple of days, I've been looking for a bearish setup into Wednesday. And now we're getting this up thrust. Again, a big thrust, not a lot of juice behind it so far. We're doing about 6.6 billion shares. Probably need to be doing about 9, 9.5 billion right now. So do markets go up in light volume? They do, but generally after that, they come down a lot harder. But I suspect we're kind of in the throws of a great deal of options roll over for the month. And that is what do we have here? Really just a really long options exploration cycle into next month where today's the 19th and we actually get into, what is it, August 19th. So we've got a long time for our options expire and really kind of looking at about the 10th of August before we even get into the Delta neutral days. So there's a lot of weeks going on out here where things gonna happen now. What we've seen is kind of light volume, a great deal of that light volume has been the people on the street, they think they know something. But not a lot of them out there doing it, but they are buying and there is enough dark pool percentage out there to make me think that they're buying up the market. But the retail trader is not. We also saw some very interesting numbers to close out yesterday and that was some pessimism. We have what I think today is yet another kind of bearish omen and that is in a bear market puts falling for a lot of them are falling 50% or more in price today which is great if you've sold them. If you're wanting to buy them, that's also kind of great cause they're on a discount from yesterday at 50% off. But again, we haven't had a lot of people that are bearish in the market. We've had one day and that's all it took to go out and cause a small rally, but there just aren't that many folks out there that are, they may be bearish, but they just don't have a lot of short positions on. So we'll see how that goes for the rest of the day. There's an attack kitty in the den, but I do digress. Let's do a little history and then we'll move on. It's been a history repeating. It is nothing but history and more than it repeating at Rhymes, but what we have is on this day in 1879, despite his formidable reputation as a deadly gun slinger Doc Holliday only engaged in eight shootouts during his life. Well, eight sounds like a lot if you're sitting in my chair I don't like lead coming my way. Still the smartly dressed ex-Dennis from Atlanta had a remarkably fearless attitude toward death and danger, perhaps because he was slowly dying from tuberculosis. And I think a lot of people just don't realize with penicillin and some of the other stuff that came along that tuberculosis killed about half of everybody that's ever lived. We just in the last 100 years, that's changed, but we look at COVID and all the other stuff. Even with that, we're remarkably doing extremely well compared to the previous 3000 years of recorded history or 4000. And people don't know it, but they've dug up people from left and right, from the tombs in Egypt everywhere where they find out almost everybody died from tuberculosis over the last 3000 or 4000 years and only been about 100 years in the rear view mirror on that maybe a little less. But the most deadly disease that there ever was and hopefully it does not make a return. 877-927-6648. And of course you can email me at path at tfnn.com and let's see what do we have out here. Okay, I got a couple of emails here. What we'll do though, so we'll go in to start looking at earnings for tonight. Got a little bit of a hiccup. And of course, after market closed today, a lot of people are actually thinking about in FLX. Is that right? Yeah, estimate is 290 and up a little bit up to the previous high, some decent volume yesterday, 16 million shares, but kind of gave it back a bit. Today you got about 13 million shares. I know a lot of people are extremely bullish on this stock, mostly because they just think it's low price now. I am fairly thinking that these guys have another six months before a lot changes in Hollywood. Before everything started heading lower, we talked on the show about just how bad the conditions are in Hollywood for production. That is everybody that has a decent script gets it bid up, that there aren't sound stages to film stuff on. Now, for the movie actors, they're busier than ever. They're just getting paid a whole lot less because there isn't that big movie payoff one day from the theater. But you got some okay volume out here. My guess is they've lost even more subscribers. I'm looking for some downside maybe to 185 tonight, although I'm not putting position on it. We'll be back in a minute. Blooming inflation, we are purchasing powers eroded. There's no better place to protect your harder and money than in gold. 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A frequent contributor to TD Ameritrade Network at CNBC, Tom O'Brien founded TFNN over 20 years ago to help educate investors just like you. Tom's Daily Market Newsletter, Market Insights, is published every morning when the market's open. To give you the competitive informational edge you need to succeed, these newsletters are packed full of Tom's advanced technical analysis and are geared to deliver comprehensive strategies for a successful portfolio. Get Tom O'Brien's newsletter, Market Insights today and try all of our products and newsletters 30 days risk-free with our money-back guarantee at TFNN.com. TFNN Educating Investors. Toll-free at 1-877-927-6648. Internationally at 727-873-7618. As we get back J&J out with earnings this morning, came in at 2.59, which is about two cents better than estimates, but not so good after all. Certainly down the volume, all that horrible no 170, there's a nice gap in there, but it could bottom out if it retested 1.6726, it could. So that's one of the earnings. Now the one out here is Lockheed Martin, which is kind of recovered from being down a little. Now it's basically back to where it was yesterday, so not a big move out here. You did, a lot of these stocks are getting back down to some of their previous gaps lower. On Lockheed Martin, this goes back to the gap higher on the 21st, or excuse me, the 25th of January of this year. And you gapped up on about 3.2 million shares, got into it so far with about 2 million, so you're gonna watch the volume on that. Now back to the energy patch. Caliburton is still kind of an offshore drill company, and offshore is very hard to ensure these days after the, what was that, the one in the Gulf? Yeah, I'll think of it, but since the oil spill from the oil derrick, what is that? I'm gonna say 2008, is that right? Has it been that long? There's something like that. Okay. Hey, so anyway, Caliburton up a little bit, BP, yeah, Deep Horizons, thanks. We do soon forget, but yeah, it's up a little bit. But again, a company that's based on drilling has a lot of what's in the United States on its plate. The war against energy continues on, unabated. So I don't know, I guess we'll all walk and freeze during the winter, but we'll be able to feel good about it and be virtuous. But in the meantime, just setting up probably conditions to make war more probable than less probable. So not a good avenue on that front, but this is one of my pet peeves, since it's so easy to see the mistakes of others. Anyway, not much going on out here, but like I said, even if we changed energy policy around, insurance very hard to get on offshore rigs, and if you're not up and running now, about like trying to get a permit for a nuclear power station in the United States, just gonna be difficult. If it's drugs you want, then you can go to Novartis, actually gapped higher today, but the volume's pretty like compared to yesterday's wide-ranging bar. Yesterday you had 4.1 million shares, today you're up on about 1.7. And let's see what they did. 151 reported 156, I don't know what they said, but it does look a little bit better. Now into the banks, we had Ali financial. Oh, I've got a collar, and we're all the way to Puerto Rico, how you doing today? What do you know, what do you think? Give me a full report. A full report, I'm about 50 feet off the beach, it's warm and breezy, and I couldn't be happier. Yeah, it's empty in the summertime, even better. Yeah, it's not quite Florida. It's about as hot, but not as crowded. So what do you want to look at today? Taking a look at STI energy that should be so kind. What's the ticker on it? SPI. Okay, I'll make sure. Okay, I just didn't have it in my background, so pretty low volume stock out here. Do you know what they do? Yeah, they just spun off six Phoenix motor cars, they still own about 40% of the shares, they make electric buses, electric heavy duty equipment, kind of the Tesla or anything non-cars commercial. They also do solar panels, they do smart energy grids, little IOT, some semiconductors, they're trying to unshore it, like a lot of other companies. When the volume does come in though, it does run, it's such a low liquidity stock. So I'm just taking a swing at it to want to see what your thoughts were on the chart. Well, generally I don't think that charts say much on low volume stocks, it's kind of like asking five people who's gonna be the president and then saying it's a poll with plus or minus 5% accuracy. So that's my problem, I dislike that it came down on more energy than it went up on, from your 151 low on May 12th up to the high, which actually had about 700, almost 800,000 shares. What was that back on the 6th of June? It came back down, but it came down and you had one huge day out here that added a lot of volume. Now you're just kind of going sideways out here. One of the problems I have with these companies is, have you ever heard of the Kenzian beauty contest? No, I haven't. Well, it's a thing and there was an economist that basically came up with kind of a test for, he wanted to talk about what things were worth and really what things are worth has to do with what other people think things are worth. And so he basically said that stock market was a beauty contest where it wasn't your job to pick the best looking one, but the best looking one that everybody else thought was best looking. So you're really trying to find what other people, what's that? The prettiest of the three ugly sisters. Not quite that, but certainly it's not who you care or who you think is best, it's who everybody else thinks is best, right? Because that's what they're gonna buy. And the problem I have, yeah, the problem I have is that, especially on CNBC, but some on Bloomberg, everybody's out there saying that if you don't have a lot of cash, you're gonna go broke. And if you're a dollar stock, you're probably not gonna get a lot of cash. Generally, you can make money on these stocks and this did go up a buck. It doesn't mean it can't go up a buck tomorrow. But for the most part, this isn't the kind of economy in where dollar stocks actually do very well. We had 10 years of that with the Fed throwing money and throwing gas on a fire already. So that's it. Generally, right now it's very tough to get the retail crowd involved. You're gonna see some stocks actually do well in this sector. And then that's gonna give you kind of the idea that it's time to get back into these cheap stocks. We'll be back in a minute. If you wanna take advantage of this sector, now is the time to subscribe to my Gold Report. 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So do you have any more questions on that? That's about it. I appreciate the information. So it's basically if they have cash on the balance sheet and no debt, and they're able to fund themselves for the foreseeable future, it may be worth the swing. If they don't have cash and they need cheap funding, we'll run the other way. Yeah, it's kind of that. Yeah, if you, it's the same thing. If you actually need a loan, the bank's not gonna give it to you. If you don't need the loan, the bank's more than willing to loan to you. This is the point where no one's willing to loan to anybody that doesn't need it. And always the toughest part of, even if we're not in a recession technically yet, in a recession itself. I think that there's a great deal of, especially in this sector, companies that, you know, for a $1.70 company, this does, it sounds like a shotgun, instead of a rifle, instead of a sniper. Generally, if I'm interested in cheap stocks, I want them to be incredibly focused on one thing, right? That they can, that something can really make out of it, but just reading what this company does too, it's kind of all over the place. I mean, it does a lot of different stuff. And, you know, can it continue on? I'd have to do a lot of research, but it looks to me almost always, if you're looking at a $1.70 company, it is a company that doesn't have a lot of cash. Got it, got it. Okay. That's reliable information as always, Dave. I appreciate your time. You have a great day. Have a great day and go over it and say hello to the Bacardi's for me. I shall. Don Q, no Bacardi, Don Q. Two, is that who it is? Always over the Bacardi, Dave. I think it's been, you bet, I think it's been, I haven't been there probably for seven years, six years, but maybe I'll go back this year's sailing season, but that'd be interesting. 877-927-6648. Let's see what else we have out here. Okay. After the bell tonight too, we've got JB Hunt. That's probably gonna tell us a bit about how, what's going on. I tend to listen to the radio when I'm driving around after the show, going to the grocery store, picking up stuff and coming back and then start running. Oh, got somebody. I've got more private messaging systems running on my machine today. But I think I ever have. Wow, that was loud. I felt like I got bit, but that was by slack. Anyway, the JB Hunt nice move up here. Anyway, I was listening to these guys talk on the radio or there's one guy talking, it's a local radio station, I think after six or something. Anyway, he was talking about having to run his truck, but them not offering any more cash for the fuel. And so he was basically, they were all kind of doing a walk out or finding other people to go to and finding different companies to drive for. Apparently it's hard to get truck drivers. So I don't know which one this is gonna go and he's back. But anyway, it's gonna be interesting. If there was one that I was gonna listen to about what they're saying tonight about how things are going, it would probably be JB Hunt. Most everybody else will probably be somewhat cryptic. But they're either gonna say the price of fuel is doing this or that or the other and the ability to actually get truck drivers is causing supply chain issues or the ability to actually buy a truck or all the other things that go into it. But if there was one I was looking at, that's it. 877-927-664-8N-PATH at tfnn.com. Okay, what else do we have out here? So we looked at JB Hunt. I don't think that says much. Okay, let's go ahead and look at tomorrow's as we look ahead. And of course, tomorrow after the market close is Tesla. They've already forecast a great deal of problems from the shutdowns in China. And again, who knows how bad it is. Certainly you're not gonna know until they come out with the numbers. So I don't know how you could actually make a fairly smart bet on this. But it has a bad habit if you're buying puts or calls of doing nothing for the first day and then actually starting to move. So I'm not a big fan of jumping on for earnings for this one either. I'm not a big fan of any of them, but this one I've seen too many times just eat up all the money on both sides and then start to move a day later. So that may be a good one to watch after earnings on Thursday. But you're just in a trading range and so many of these stocks have and continue to do not exactly this, but it's close to this pattern which is lower highs and higher lows. And generally when you break out of that it is gonna be something that goes the opposite way. But I don't think we're gonna get that. In gaming, Las Vegas Sands also I think after the bell tomorrow night. Is that right? Yeah, okay. And again, I hate this pattern when you're trying to forecast anything. But this is exactly what we're talking about. You make a low on May 12th. You make a much higher high on June 8th. You try to go down and break out the low on June 13th. Can't do it. Try to go break out the high on June 28th. Can't do it. Try to go break out the low on June 11th. Can't do it. Now you're coming into earnings up here and the only good thing is that you're off the lows with no volume. I think from generally the way that these gaming stocks tend to act, it's all about COVID because again, all the McCaw, McCaw, that's a bird, isn't it? McCow. Issues are all about that. But again, when you read the headlines, it's hard or almost impossible to actually understand any of it because they don't give any contacts. And of course, if it bleeds, it leads. So the headline, China has the highest COVID reports since May. I don't know, did they just have one in May and now they have two? I don't know. But I think more than anything, it's probably going to be the reaction to what the CEOs say in their conference call about COVID going forward. Because I think even in a decline, people continue to bet and it's a little off that. But I think the big issue is just how many people bet in China. I think they've got a pretty good idea on the United States about what's gonna happen and how we're gonna react and work in the fall season when the normal flew and then now COVID comes back to haunt us. But this is it and so many stocks had this kind of pattern and where we probably shouldn't have busted out in the last few days, we did. And that's what probably bothers me most of all. We'll be back in a minute. You still have plenty of time to give me a call. TFNN has been your trusted source of analysis for bonds, metals, stocks, commodities and options for years. And we are happy to announce that we are bringing that same caliber of analysis for the Forex market. 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And it's, I'm going to say, probably within a buck or two of hitting that line. Maybe they may be 112 out there. Energy is not all this exciting off the low. You had a lot of energy on the downside from June 6th at 117.71 for 179 cents on June 16th. And you just kind of had a kind of lackluster move back. Maybe they surprised, but the chart is not highly encouraging. Support comes in at 100. So not much to know about that. Another company, as I said, that I'm interested in watching and what they say is CSX. I hope someone asks them about why all the fertilizer is not going to the farmers, and they're talking about killing their chickens and other things. Maybe we'll find out during that by kind of somebody actually doing their job in the conference call, but that would be interesting. Anyway, you're back up in CSX to this. I'm going to call it a shelf for about 29, 29.50. It's been going on since the 13th of June. You're back up into that. Most of those days, what are you going to say? 15 million shares, probably on average. You've got about eight today going into earnings tomorrow. So generally, I don't make a lot about volume the day before, but that continues to be it. Another company out here that I wanted to see how it was doing is Infosys. That's also, I don't know what the time is on that. I believe it's an Indian-owned company. So I don't know where it is. You're back up into a gap. That gap is from the 11th down on about 8 million shares yesterday at about 7.4. Today, you got about two. So light volume into the abyss, maybe? Don't know, but certainly a lot of cutbacks in India. Alcoa, certainly love aluminum at one time, the most expensive metal on the planet and why it's on the tip of the Washington Memorial. At that time, it sold for five times what gold was selling for when they put it up there now, worth what, 1,000th of what gold sells for even today. Certainly, you don't have much going on here, just consolidating at the lows. Don't see a great deal on that. Another airline company, again, how well they can hedge is going to be a great deal of what going on. Slightly lower energy or fuel rates for the last week or two, kind of interesting, but not making a great deal of difference to two. So what do we have out here? Crew, yeah, up $1.50. Still not good. Light volume and a push. 42 looks like resistance, and you can go on. Got a question to look at micron real quick. And you've got an OK bounce out here, 62.76. You're basically in this double gap without a lot of energy, which is not good. You came down on the 13th of June with about 24, 25 million shares. So the last three days, 20 million. Yesterday, 13 million. Today, 11, 12. And you're right up to where that double gap goes back. That is one that actually goes back even farther. In this chart, we'll go back even farther. Man, that goes back a ways, doesn't it? So anyway, certainly a single gap out here that you're filling, but it's not with a lot of gusto, as one could say. OK. Got a question about the TLT. I haven't talked much about it lately. Yeah, you're just going sideways so much this other stuff is. So I'm not thinking much. Thoughts on Disney. I haven't liked it for a while. I haven't liked the company since I dealt with them back in the mid-90s. They had a rather horrible corporate culture. So they're never on my A-list. They always threw around their weight and expected you to give everything to them for free and then would chase you around if you actually said that they bought anything from you. You're back up to the previous high to June 16th. 17 million shares today. You're in it with eight. So you're certainly not attacking any of this down stuff. Somebody in the den thinks that Netflix could do well that the kitchen sink is in. I would say that the history of the last 12 years of streaming isn't that you pick up subs in the summer. You pick them up as soon as the weather turns the kids go back to school. So maybe they're going to forecast that. Maybe the market will put that in. But I don't think that you're going to get middle of the summer a great deal of love into Netflix or any of these others until the weather turns cold again and people start going back inside. They spent a couple of years inside on COVID and they're more than willing to spend it outside now, even in a hot summertime environment. Is anything going on from John on CCJ? He finally got a nice move out here and it may just be a short covering. Of course, I heard somebody in the den, I don't know if it was in response to an article about Europe going back and restarting up some of these nuclear power plants that they closed, because they found out it was incredibly stupid to depend on either the sun shining or the wind blowing for their power. Got a nice move, but really all you're doing in this right now is going back to about 25, which is about halfway into this big huge volume gap down. So I don't know if there's much to say about that. I think you're going to consolidate out here. But I think in five years, is this a $75 or $100 company? I think it is. I think you're going to have to do some nuclear. It's dissed when everybody gives up on preaching about solar and wind, which you can't depend on. And you've got no way really to store it for the evening when the sun's not shining or when the wind's not blowing. And unfortunately, too many places, at least in the United States are like that, but others too. Quick look at the IBB when we come back. Vista Gold owns and operates the largest undeveloped gold project in Australia, the Mount Todd Gold Project. Vista Gold just completed their feasibility study, resulting in a 7 million ounce gold reserve. Vista Gold has all major permits approved and has retained CIBC Capital Market Assistance in evaluating alternatives and in completing an accretive transaction. Vista Gold trades on the NYSE American and TSX under the ticker symbol VGC. Vista Gold executing a strategy to create shareholder value. 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. 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Sign up today and become a part of this educational community of traders. Just visit the front page of tfnn.com. Catch Tom O'Brien, professional trader and educator, founder of TFNN. Also a special guest on CNBC. Tom will bisect and dissect the markets. The Tom O'Brien Show, next on TFNN. As we come back, getting ready to wrap the day up. A lot of earnings in the next couple of days, even the company that held up probably the best this year, IBM, of course, gets the loser horn this day. And probably the only good thing is you get a chance to buy it lower if you wanted to come back against this thing. Really spending a lot of money on working out quantum computing. And that really hasn't started to take shape yet. My guess is that government contracts are going to come in shortly on that. But when the best company or the strongest tech company can't hold up, you want to be thinking that maybe there's a little dark clouds on the horizon out there. And of course, I think a lot of people are betting on better. I'm thinking that we might be topping out right around this area. Again, looking for confirmation to that in a much more complicated pattern that we've discussed in the past. Anyway, that's kind of about it. Let's take a look at the volume because, again, one of the things I was looking at out here was you're really just not getting a lot of juice either up or down. And today, we're doing about 7.6 billion shares on the CBOE consolidated date. Really, I think you need about 12, 13 billion shares. We're probably going to come out with about 10 and a half billion shares. So there hadn't been a real good signal out there other than to move higher and not picking up any more volume. Had one day of shorts, I imagine they all ran out today. So there's still not many shorts in the market, at least in my opinion. We'll see you tomorrow. Same bat channel, same bat time. Remember to sell when you can, not when you have to. 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