 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 there we go just a second there we go you know when you get it right welcome to another excellent edition of the power trading hour with me your host who always wants you to be here at this particular time the following takes place between 2pm and 3pm well I didn't have so much as a number picked out as a time and that was somewhere around the apple dog and pony to find some kind of low for the week doesn't mean that we're gonna actually go right up from here but I suspect that we probably are gonna find some kind of decent low for the week as I said before options market makers have really not blinked through the last four or five days they've always thought that 45-25 to maybe 45-50 is where the markets gonna expire for expiration on Friday so I've been looking for some kind of catalyst really trying to figure out what the market is concerned about here in the last couple of days is something that would go away or is it just something that is a existential crisis going forward I know there's a lot of stuff to always be worried about in the market I don't see a great deal of that of anything different other than a bit of a pullback but we'll continue to keep kind of an eye on it but just looks like kind of a little bit of a September sell-off where a lot of different stocks are sold off and others are bought and that sets up positions for the fall many people talking about the Fed actually starting to tape or some since just two weeks ago it lasted all of three days before they jumped right back in it's kind of hard for me to believe that they're going to want to get their hands slapped once again so viciously by the market we are pulling back you know off of what a hundred points off the highs or so in the S&P right now we're down 16 or 17 and the volumes you know you keep an eye on it to see what's happening today the differences the volumes are tracking right now maybe a billion and a half shares shorter and maybe two billion for the day shorter by the end of the day so volume has kind of decreased out here as I said before if I'm going to think real bearish on the market I mean significantly more than you know just a handful of days as we've had before I'd want the market to rally once again and still have very light volume but my guess is a lot of what we're seeing now is out with the old and then we're probably going to go to seeing what's in with the new and that's the stocks that will do well going into the fall depending on what most of the people think that it's going to do I thought the market was worried about 9 11 then I thought kind of worried that it was worried a lot more about Apple today doesn't look like that's changed much was kind of surprised to see the market bounce as hard as it did off of the numbers at 8 30 this morning which I didn't think a lot of people had been talking about or looking at about it all you kind of have this dark cloud over the top of everybody of the of a giant tax bill that would certainly gut the stock market so I can understand people talking about a potential huge pullback in the market I just wonder whether or not there is a political will to commit Harry carry because you're what about a year away from the next midterms and my guess is if you'd want to pull the the rug on the market now there's going to be hell to pay in a year I think a lot of people would think differently in the cold light of day may sound good to eat the rich but generally and those people that give lots of money to political parties get it from somewhere and if that's taken by the government before you can get it it's not fairly easy to get it so I don't know when it's all said and done my guess is it doesn't amount to a great deal but I can see how some people are worried you know if you did have a doubling of of the tax rates for long-term holds and even more on short terms could be a big deal you see the overall burden in states like New York over 70 70 and a half percent if this would go through as written today so there's not any not reason to be concerned but I put kind of a low prio probability on it actually seeing the cold light of day and getting signed probably maybe I've been wrong on this it is a political issue again but it's hard for me to actually believe that as a matter of trying to predict the market but yeah if it went through I think how many people in the rest of the world would want to come and invest their money here in the United States I think it would be significantly less I also think that maybe a lot of people would get out now instead of wait till later of course one of the biggest moves ever in the market was based on even lowering taxes and that was back in 1999 and 2000 and in that case everybody was holding their positions to sell at a much lower rate generally the thought is that everybody would exit as quickly as they could now to pay a lower rate than wait until next year so it's always those unintended consequences of government action that you're never quite sure of because again they don't always play out the way we think that they will but the question is how fast would the market leave if we had confiscatory rates for capital gains and I suspect toot the sweet is my answer I've been watching a question in the den is whether or not anything's really going on an apple and so far no there's a lot of little stuff in there but it my thought was that normally these things run about an hour and a half so we're probably getting fairly close to the end of what's going on let's just take a quick look at apple and see if it's done anything just seem like more of the same it's off a buck 50 148 10 is the last I see so not a lot in that we're waiting there was a rumor that we'll talk about when we return are you grinding in the market but seeing little to no return or are you 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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 and as we come back not a lot happening a little bit of drift lower down 21 points on the s and p cash as i said the volume's a little lower we're looking for some kind of low in here and i don't think the apple shindig is over quite yet but i didn't see a lot that actually drove me to think that there would be a huge move in apple sales and we're down two bucks on apple so i think there's a little follow-through right now thinking that there wasn't some kind of big overarching fit feature that actually is going to drive people to buy iPhones but hey maybe it's not done quite yet um yeah we're bouncing around here i've got is that negative 17 now negative 22 okay uh two two two what else do we have okay and for oh we want to do a little history and then we want to move on and it's all just a little bit of history repeating on this day in 1814 francis scott keypence a poem which is later set to music and in 1931 becomes americans national anthem the star spangled banner the poem originally titled the defense of fort mchenry was written after key witnesses in aral and fort being bombed by the british during the world uh war of 1812 uh key was inspired by the side of the lone us flag still saw uh flying over uh fort mchenry at daybreak as reflected in the now famous words of the star spangled banner and the rocket's red glare the bombs bursting in air gave proof through the night that our flag was still there and of course uh what you don't know is where the music came from uh the underlying uh music uh came from a fairly rybald uh to do drinking song much a line of uh or along the lines of the uh famous uh uh women from nantucket uh kind of things uh very rybald at the time uh but uh yeah the music 19 was it not 19 18 maybe 1650s drinking songs along the wharfs of uh england many sailors uh bars and taverns um i'm used to hear i i one time i heard the uh the actual lyrics and they don't sound that bad today but apparently back then wow a big no no so uh now you know the rest of the story now you know the rest of the story and what else let's kind of let's go to some charts out here today uh kind of go out here uh i haven't updated this for a second so let's go ahead and take a look at this uh coming back into what should be support um some fairly decent uh volume uh today in a down candle uh i think it'll be a great deal of we should have huge support at these levels so the end of the day will probably tell us a lot um 441 and we'll call it 442 on the s and p cash so we'll keep an eye on it but uh i don't have anything in the indexes i've been waiting uh for a buy for options into friday because i think we're going to have a fairly decent turnaround at least uh if the volumes continue well i haven't seen is a lot of people shorting this move back down generally the big sign to find a bottom is that uh question on the follow up from yesterday where i said amd had a fairly decent looking low two reasons uh one the energy up from august 19th uh to august 30th uh compared to the that uh august 30th high back into yesterday's low uh was off by about 20 a little over 20 percent uh for the energy on the way up to the way back down and you also had a 71 million share low from august 19th tested not all the way but close enough for a scar on uh just 38 million shares in fact you didn't have much in the way of volume at the end of the close because i think we had 30 million when we were talking about it during my show so uh actually a fairly good one and uh holding up fairly well today what did i say to 10621 so you have your bounce i'd love it to come back under 105 and see a lot of heavy shorting tonight maybe even tomorrow and then try to see if there isn't something because it's kind of looked a bit bullish over the last couple of expiration fridays uh but uh hadn't really had the big movement out here got another question from ralph about uv x y and what's going on with this um you know you had a kind of a nice day on the 10th hold back a little bit the problem you have right now is that uh the uv x y is based on the vixx and the vixx is based on two different time um oscillators i think what is it the i want to say it's on the 24 and the 36 days sounds right to me i'd have to go back and look at the paper again uh anyway i wrote a little model out here and the problem is that if uh the way that those two things uh react those two different time frames react you can have still a lot of decay and my in what i'm doing is the decay looks fairly bad in the vixx which is translated into the options on the futures of the vixx which ends up being the uv x y and you end up seeing you know for a next couple of days even though you might have some big moves and a lot of people worrying about it you really haven't had the big entry into that for volume which one signals a low and probably just as much sand signals a high so you know i'd love to see something other than yesterday where we have kind of a doji that ended up not doing anything today uh they don't like songs like they used to that's good okay uh other things going on that i wanted to bring up um i've talked about this one for six months uh and that is uh these uh herbal life uh finally blew up today and it took forever it's looked horrible for a long time um i'm not one to bet on earnings uh too much uh but i knew it didn't either it was this earning cycle or the next that this is going to blow up uh you were down more than 20 wow you were down more than 20 and uh we'll talk more about it when we return 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 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 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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 and as we come back we would want to talk about her herbalife this has been a long time coming and of course for a couple years it was a war between two of the titans on wall street one person taking the place of robin hood and read it the other saying that the this is the truth but of course it didn't really matter if you're on the wrong side of that they were able to run herbalife up to a real high the whole supplements industry has had a really a tough few years the federal trade commission changed the way you advertised so you couldn't have you can't have a lot of people that are famous now actually hawking your product they kind of get around it a little bit on radio and i'm not exactly sure how they do that other than it's on the host show but uh you're not supposed to have some kind of movie actor or something like that i think that may be the the the small legal difference but certainly uh unless you listening to am radio you're probably not listening to those ads pushing a lot of different supplements certainly herbalife had two problems one was that the second one was it was always considered to be by many a multi-level platform and if you've ever sat down with a spreadsheet for more than five minutes it doesn't take you to figure out that multi-level marketing uh mathematically can never work so you're always having to drag new folks in eventually that model doesn't work anymore and it all goes away um of course you know that two years of fighting and was it david einhorn or was it another one can't remember these guys i haven't watched uh infotainment tv for uh stock trading for a long time occasionally catch it but i haven't watched it very serious in the last few years uh anyway um it was who is the other one i icon carl icon and the other one yeah i oh it was ackman an icon okay anyway they fought over it for a number of years you knew it was eventually probably going to zero it's just uh in the meantime uh can you take somebody out to the woodshed like ackman and in the end um icon school ackman um but uh guess who schooled everybody else and that was the people that watched that uh uh what would you call it not a hoot nanny um episode of a stock market adventures and thought hey why can't we do that uh we'll just form our own roving gangs on uh robin hood and uh and uh reddit and we'll do the exact same thing that icon did to ackman so we kind of have that going on but we haven't heard much about it lately i suspect because a lot of the ring leaders of those robin hood and reddit things have been uh looked at very heavily by the us government and uh leaned on a little bit that uh the big guys don't like it i don't think that there's for the most part i didn't think of there was a lot in there that was illegal uh but certainly you don't hear about the big guys uh uh anymore in these meme stocks really clean and house occasionally it happens but uh certainly you don't see about it on the tv or the major news that actually covers uh stock markets but anyway um a lot of people think well uh the stock is the company and these are pretty good lessons to learn that just because the company is uh maybe another inron it may take four or five years for those things to actually come out in the wash when they do uh they're generally fairly brutal uh my prognosis for herbal life for a long time has been at least a retest of this 20 low back on march 17th in 2020 um and i think you can get there there's just not that much there there uh but certainly you're breaking now um and may break this august 28th low you need 10 million shares by the end of the day 4301 for august 28th 2020 uh that opens up really the move down to 25 and then uh 20 and 73 cents for that march 17th 2020 low so keep an eye on that i'd like that to consolidate out some people get back in it uh but not a real big fan of being in the industry of selling supplements especially also putting those together with multi-level marketing a lot of claims when they went to court no one really lost any money on that although they i guess get to say that it's not a pyramid scheme but uh i'll always consider it that but that's my opinion anyway you're down you're gonna have lots of volume you have more than 10 you can break 4301 um and there are a lot of gaps to fill all the way down to 25 on that other stocks out here that are having a bad hair day not a day to start off the day week already which is when it's down 11 percent uh when resorts uh look at that volume uh you're going back after a five million share low that's the august 19th low with 4.8 million shares with 21 or 22 million shares are ready so you've got kind of that going on there's some bigger gaps down here i don't know if this sticks um 81 ish should be fairly decent support uh at that level maybe you start consolidating out and that making a big difference but of course i didn't get to look through the news i would suspect that since uh it's standing room only in las vegas this has a lot more to do with what's going on in mcow okay it's the electric slide jimmy uh tm circle with an r and uh something else copyright gotta put that on there um okay we're down 30 points on the s and p cash question on the tlt from arnold and see what he has to say um anyway uh thanks for the uh heads up michael for my loot's colorado um he came right back up to the highs of august 4th that 18 million shares you had 12 so far today i don't know if this is a lot more than a big trading range i know the feds kind of trying to keep it going much higher uh and uh kind of stalls into it gets in the back to about 148 149 they tend to throw some money but uh looking for that fed juice uh probably thursday yet again this week uh they haven't shut that spicket off are you in the market for 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a share bull and bear etfs 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 8664767523 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 principle the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor for 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 and as we come back first question from david mstr do you think it will fill the recent downside gap this week looks like supports actually fairly good here you had a day where it bounced off had a lot of volume on the way up today volume is about half of what it was lately normally what you're looking for in these open gaps is to fill about half of it or go to the double gap so your targets out here for possible plays would be about 580 i'm going to say 580 yeah 575 ish uh would be you know a great buy if you're along this thing i don't know if you ever get that but generally uh 575 is where you could take a swing if that fails probably about 510 520 is that next double gap which would be the next support but during expiration week you came down you had on the 10th a little less than 700 000 shares today get 451 you had 900 000 yesterday so i'm not seeing a lot that says it's going to blow out options really don't show a big blowout now maybe that changes tonight and everybody actually does start thinking the market at least the option market makers start thinking we're headed lower but if that changes a lot then i'll change my mind but i'm not going to see that data tell probably five or six tonight but i don't see a lot out here that doesn't say that we still don't get a fairly nice bounce by the end of the week the big thing is just waiting for the whites of their eyes and not taking a leap i haven't added any option positions for friday quite yet but yeah i would say halfway through the gap is where you want to look at that gap up is on the 26 uh if halfway breaks then you're probably going to that 520 much lower okay we've got some more stuff coming in here across the transom i was going to tell you i was going to talk like a sailor bow stern deck talking like a sailor okay what else do we have okay got a couple of those quick tour in flx through this again like i said i suspect that we are setting up we can set up for some big moves down but that big move down or larger move down would be more likely uh in the next week we've got two days now underneath the netflix uh three by three what you'd like it to do is have a couple of days of a rally maybe back up to 600 and then the next tick down would generally be the one that would say that it could come all the way back to 535 ish is probably where i would look for that if you get a double repo pattern in fact uh good to hear uh jody nappley uh on uh larry pesavento's show today he's rather bearish as is anybody that could listen to that show uh would say um i'm gonna wait until i get some more proof i know that there's a lot of fundamental problems out there and there's a lot of things we can look at i don't see a lot in the charts quite yet and generally you see it in the charts before you actually see it happen so i'm not a big bear here in fact i think i can make more money in a couple of day trades uh going forward at the end of this week that i can being adding any new positions here today but we shall see uh go back and check on this okay yeah off 27 on the sp cash down 70 on any day i don't think anybody would say a great deal about that but uh since we've been up everybody's of course uh kind of freaked out a bit uh two what else do we have out here we did win we did uh herbal life we looked at amd uh the question about twitter from anthony tw atr and of course uh you want me to look at anything just email me at path at tfnn.com um i'm not a big fan of twitter for a long time i think you're coming back to the 4912 the idea that they were going to uh have newsletters on the thing and make a bunch of money hasn't really gone anywhere they still fight to uh i want to say monetize a lot of what they're doing and of course they're facing a lot of lawsuits going forward and of course uh i also have a question about apple i wrote about it yesterday in the tech insider because it's more of a long-term thing uh but the decision on friday for apple i think the real uh deep side uh deep meaning of what happened a lot of people are saying both sides lost uh epic didn't prove antitrust and i'm going to say they didn't go far enough because the judge uh actually said you know what if you would have just done a little bit more work on that android trust i probably would have ruled in your favor and if anybody else is going to sue apple for the same thing go ahead and throw a little bit more on there because i think you got i've got a big whiff of it here as a judge uh there's antitrust you just didn't do enough so i think uh there's a little bit more than just apple not having a a great day-to-day with a new product rollout i think there's a little bit of that overhead and kind of a weekend market we're down uh what $2.20 on apple now so that's going to be tough on the indexes to come back uh two two two okay and let's see what we got here question about snap we haven't looked at that one for a while snap and we're going to go to scott in uh denver right now how you doing scott doing great how are you day good you got about 30 seconds before the break alibaba and some of these chinese stocks what are you thinking uh certainly uh if you get a decent low out here um the chart looks good i would say that you know if you want to see these stocks really take off if we get some kind of confiscatory capital gains change i think a huge amount of the money in the united states going to china right now this chart does look very good i'd like a little bit lower but 89 million shares being tested by a little under 15 right now not so bad 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 markets 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 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877-518-9190 that's 877-518-9190 catch tom will bryan professional trader and educator founder of tfnn also a special guest on cnbc tom will bisect and dissect the markets the tom will bryan show next on tfnn and we're going back to uh scott and den still there i am david i was wondering i guess kind of a general question first uh and then maybe another stock if you had time some of these chinese stock whether it's be alababa or jd are they going to go down as much do you think as some of the others if this market goes down um it's all about how much money comes from the the banks so i i think i have a harder time saying uh that for china because i'm not exactly sure what they're doing over there um i would say if you're just looking at the chart a lot of these things look pretty good like alibaba uh i would being a china stock only play them with calls i would not be putting uh a bunch of money up against this uh i would have limited exposure in case something bad happens and uh you know these things are untradable again something like that so i'd take that i'd take the calls on it but i don't think i'd go the act i wouldn't go in the equity or an etf or anything else i might be trapped in and take the whole loss but uh i'll tell you what you've got me looking at this for a friday play off for expirations this does look fairly good i'm seeing some other stuff uh look that well too we talked about amd the other day um that's also down with fairly light volume another kind of day to day uh but uh you know there's a few of them out there that look fairly good so but i'm kind of not making real long-term calls on this i'm kind of saying shorter term like i said if we're really going to head down probably going to get a bounce that bounce will probably be late this week and in the next week and then you probably see some bigger failures mark generally it just doesn't give up one huge uh time okay gotcha thank you very much we'll be back tomorrow same bat channel same bat time remember to sell what you can not when you have building wealth trading in the stock market