 Welcome all to another excellent edition of the Power Trading Hour as we get started off here today. A nice day. I don't suspect we're going to get blowout volume although it's fairly good. We're up about 500 million shares on the CBOE compared to yesterday so yeah it's going to be a sign of strength probably not. We've been hovering around about 10 billion 11 billion shares on the day. We may push into 11.5 billion by the end of the day. We've got 7.3 billion pretty much right at the moment so that was actually or that is actually slightly bearish. Generally even ties go to the runner on volume so if it's just the same you can still look at it. Now I have thought that what we're really looking at is some options expiration where they got everybody as bearish as they could and then they're going to move it up and let all those put options go to money have it. So do I think we're going up forever? No. I've been looking in past patterns where too many people think that we're just going down and we're going down and we're going down and a long-term bear market just doesn't go down. It just goes down a whole lot more than it goes up. So could we have a stumble back up to 4100 in the S&P? That's been kind of the high range that I've been looking at. I think we could. There could be a few things Putin croaks. I mean you could probably come up with a few other things where people think well maybe things are a little bit better and does that stick? Probably not but what it does is tend to make you think that maybe everybody will focus on something else instead of what they're focused on now. If you look at the political polling the sentiment is fairly bad and that's generally a fairly good time. They rate crime and I think it was pretty much a dead heat on crime in inflation for our purposes probably focused more on the inflation side of the equation for the polling. But you know the old saying is you buy on the cannons and you sell on the trumpets but you know the markets even in a bear market if you go back and count the days it was probably higher than the day before about three-fourths of the time. Even in a bear market even in a bull market the big difference between the two is not how many days in a row you go down generally although in the worst part of it it does go down fairly fast. It's just that you get this relentless slightly higher slightly higher slightly higher and then the rug pull. And I think a lot of people are too focused on just thinking we go right there to the bottom and that's going to be it. Even in some of the worst bear markets we've had fairly decent bounces. The one that really made me as a trader actually there were two but the one that I liked the best was in I think it was around 2008 where there were double tops in the financials and the second top came in on about 30-40% on most of the big financial stocks of volume of the previous high. And that continues today throughout probably the last 10 years we've been massively manipulated by the Fed and the Treasury and by anybody that can manipulate to drive the markets higher to theoretically get us past the housing blow up of 2008-09 and 2007. But even then they didn't just go down. You get short areas where it does and it does go down 3x what it goes up and those days are still about 25% of the days that it goes higher. So could we just stumble up for a couple of months put a pause in the bear market. A lot of people say it would be over and then it comes back not like a lamb but a lion. I think that's the saying isn't it from the Bible. My misspent youth 877-927-6648. Email me at path at tfnn.com and of course you can always put a message in the den. So that's kind of it for the moment. Don't get all wound up and thinking that the markets are one way. They're neither one way on the way up nor on the way down. It's just the amplitude of the moves tends to be very different. So again after the bell tonight we're going to continue to look at Netflix tonight. Intuitive surgical. We'll go through the rest and we'll go through the earnings here in the show for the ones earlier. Then we get into tomorrow and that is after the market. We've got Tesla IBM Procter and Gamble lamb research and Abbott Labs. I think it's before the bell. Kendra Morgan and Alcoa, somebody in the den just posted that big multi-country industrial kind of companies will be it. Las Vegas Sands may give us a little idea. It would be very interesting to see what they say about China and maybe what they know or what they think they know about how China is going to progress. Let's say in a scenario that China drops the zero tolerance on COVID. What would that do to their business? What would that do to their economy and their stock market and would we follow suit even if it was wrong for two months? Eventually that could get us into Christmas. So let's not get too upset one way or the other, Bull or Bear. I did post one of the most famous quotes from Jesse Livermore early today and that was there's no bear side to the market nor bull side to the market. There's only the right side and just remember that if you are going to be short that a lot of money is going to come very quickly. The belief is that if you just stay short you'll be fine. Reality is you're going to make your money fairly quick. You want to take it and wait for the bounce to go again. So that's kind of it for this segment. We'll be back as I said with a little bit of history. We'll talk about the earnings we did have this morning already. We'll look forward and take another look and see if there's anything else out here. But don't think a lot for that. But that's kind of it. As we go to break here let's take a quick look up 48 points. Oh I've got a quick question we'll answer and that is on options. We'll talk about that when we return after this incredibly short timeout. Gold. Vista Gold's flagship asset is the Monk Todd Gold Project in the Northern Territory of Australia. This is Australia's largest undeveloped gold project. We are talking a world class gold project in a tier one mining district. This is a large scale low cost project with significant existing infrastructure in a politically safe and friendly mining jurisdiction. Vista Gold just completed the Monk Todd feasibility study which resulted in a seven million ounce gold reserve in a 16 year mine life. All of this combined with the approvals of all major operational as well as environmental permits. This distinguishes Monk Todd as an attractive dearest pot ready development stage gold project. Vista Gold trades on the New York Stock Exchange under the symbol VGZ. Are you grinding in the market but seeing little to no return or are you a successful trader simply looking to make your job a little easier. Learn to take the path of least resistance with David White's powerful trading newsletter. David White is an accomplished trader whose deep understanding of technology and the markets allows him to consistently find and share winning trades. Support and resistance define the ranges in which stocks trade. By understanding these trading ranges David White is able to find the path of least resistance. David White's trading newsletter The Path of Least Resistance is delivered daily before the markets open to make every trading day an easy win. Visit TFNN.com today and subscribe to David White's ultimate trading newsletter for $119 a month and try all of our newsletters risk free with our 30 day money back guarantee. Take the path of least resistance at TFNN Educating Investors. Are you looking for a way to consistently add winning trades to your portfolio. Tom O'Brien is here to help. Tom O'Brien has been successfully trading markets for over 30 years a frequent contributor to TD Ameritrade Network and 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 markets 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. He has won 877-927-6648 internationally at 727-873-7618. On this day in 1958 Higgin Botham and Robert Dvorak Sr. not to be confused with Robert Dvorak Jr. of keyboard fame and kind of general blowhard in the technology sector shows off a tennis simulator game they called Tennis for Two developed with a on a Donner model 30 analog computer using an oscilloscope of course why not a direct copy of it of course we've seen that really become the first massively adopted video game called Pong they had to use a kind of a well 1958 circa oscilloscope to play it but it wasn't all that much different but yeah video games really the first one ever shown on this day in 1958 now of course they're everywhere and I love playing them all my favorite new one is a destroyer where you get to uh go out and depth charge Nazis in their U-boats what a great simulation game on a game okay uh oh I didn't want to get rid of that one of my questions uh or my first big question of the day I said I would answer on the air and that is Robin Hood uh is this ever coming back now last week they had a ruling in their lawsuit and I would say if any of the stuff in the lawsuit is even semi-true they have a huge problem now the judge ruled that there was more than ample evidence to go forward with the case and then when you look at the actual claims and the proofs along with the depositions that they have already put out Robin Hood apparently was stealing from the poor and giving to the rich at least that is the claim by the litigants it does look like a lot of people are saying that they were involved they have subpoenaed many other folks but it looks like the scam was getting enough orders together selling the order flow in front of it and sometimes the order flow especially in fast markets on a lot of those meme stocks uh could be five or 10 percent so there was some absolutely huge money changing hands with zero risk uh in uh the uh high frequency traders now none of these guys were the giant big names that were generally used to which might be even worse because these guys won't have a lot of protection in congress like Robin Hood did because so many of the congress were involved in owning the stock themselves and they were able to I think they leaned on the SECs quite a bit the question is if any of this stuff ends up being true I don't know how the SEC eventually ignores it all uh as the way that they've done it up to this point but there were some trades again they're 10 uh I mean there were 50 or 100 shares of $10 stock but by delaying it and moving it in fast markets they were able to buy it and sell it instantly make five and 10 percent profits that's on the side of the high frequency traders but to do that they had to be sold the orders before they came in so not this wasn't like a couple of pennies or something this was uh this is uh pretty much uh you can steal more with a brief case than you can with a handgun kind of stuff so we shall see but uh the judge has ruled uh the evidence up to this point had been challenged but has been presented looks fairly uh definitive I mean a lot of times there's a lot of huge shot John and maybe this person said this now they've already been able to get uh some uh of the documents and apparently some of these documents probably came from insiders that are none too happy uh that uh they work for an organization with uh at least alleged low moral standards so does it ever come back man if any of this stuff becomes true the question is can it survive at all not can it come back because there would be some pretty massive fines and it looks all along like this was nothing more at least from the allegations a giant scam to sell order flow at rates that you would never get away with if you were buying regular lots through a regular broker 877-927-6648 as we said we were going to get into some of these other charts today for earnings again maybe everybody just a little bit ahead of the bear market for earnings let's go ahead and of course oh yeah I wanted to get into that first thanks for reminding me the shall answer that in email okay okay um let's see uh anyway we had a nice drive uh higher you've got plenty of volume you're not holding all of it but I'm not surprised when we look at the spies let's go look at that real quick because I wanted to talk about options uh options had 370 as the first uh minor resistance levels uh we blew through that got to 375 375 was the second level if we can get up and break 375 the next level up on options is 380 my belief right now is that we expire somewhere between 375 and 380 as that's been the projection for a while and my guess is that especially this morning we probably had a lot more people diving on the short uh bandwagon and they're probably gonna slowly cover into options expiration on Friday so okay got that through all of these okay uh we looked at uh Goldman Sachs anyway uh options 370 we'll pass that I don't see us closing below 370 the question is can we get above 375 and how far the options are predicting at the highs we close at 380 on Friday we'll be back after this if you want to take advantage of this sector now is the time to subscribe to my gold report the gold report is a comprehensive look at the metal sector as well as the markets that move gold which is the currency and bond markets new subscribers get a 30-day money back guarantee so you have nothing to lose every monday morning I publish the gold report with coverage of gold silver bonds the xau hui gdx as well as more than 30 different mining equities to see for yourself the types of profitable trades that are recommended within the gold report sign up now by visiting tfnn.com don't miss out on the next great gold trade 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 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 seventy nine dollars a month we are so confident that you're gonna 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 i was going to talk about this in response also to uh some other uh some other stocks that had earnings today uh you're just beating around this low other than you've got the kind of a wintertime bias of people that uh subscribe back um they've had a ton of failures i'm wondering if anybody can uh i'm wondering if anybody can name the number one show on netflix for the last two weeks we'll give you just a second to think about it yeah beuler beuler beuler yep someone got it right it's dommer now they've paid hundreds of millions for other shows they paid almost nothing for this and it's number one and that is the you know for my time of being out there for 10 12 years if there's enough movie of money then generally a good movie can come out of it if there's too much money then it's probably never going to be great it's probably going to be mcdonnell's it's going to be yeah you know what it is but are you really going to think about it 30 minutes after you ate it and i don't think there's anything in here that most people think about the midnight club conversations with a killer john wade and gacy so it apparently uh pedophiles and uh cannibals are high on the list what people watch on netflix right now but the rest of the stuff i don't think a lot of people would ever think of when they look at the top 10 of what people are watching on it what i will tell you is i think that you can almost bet that whatever the top big thing that they're pushing now is for a series it's probably all top 10 of these things that people are watching right now probably don't cost what one of the big things that someone else produced of course uh for amazon it's the billion dollars they threw down the lord of the rings for paramount it's the billions they've thrown into star war or excuse me star trek to destroy it for disney it's star it's star wars how they've been able to just take billions and turn it into crap so i'm not a big fan of these streamers uh the standard thing is you get a few big hits you get way bigger than your britches you start making bigger and bigger bets in hollywood and they all tend to come up snake eyes at the same time um and for a place that's supposed to be known uh for being creative once one thing happens everybody else wants to be in on it there were four uh volcano movies in one year there were four asteroid movies in one year then no one does any of them because none of them did any good probably none of them were all that great everybody was rushing to get them out because of the other ones and i don't see you know for a long time uh you had kind of the hbo model which is hire really good people and leave them alone and you know if you build it they will come but we're getting back into the same horrible hollywood kind of thing that we had before screaming which is everybody has their egos and they want to get involved on it so i'm kind of thinking that the business isn't so flawed as the management but when you look up here you got okay volume am i predicting this is the end of the world no like i said they'll probably be able to show that some of the people came back now that the weather's starting to move they always have kind of a bump uh almost all of them uh coming in september about 80 of their profits come out of the united states but uh you know what it's just one of those things where uh it is a feast or famine business they tend to have a real horrible idea of what creative uh are and uh it just uh it it's the bean counters and the non creative people tend to think that they're really the masters of the universe where they should just give the people that are creative money and go hide but they've got to justify uh their giant paychecks and to do that they get involved and screw it all up so anyway on the disney of course they took one of the prize uh franchises of all time in star wars and continued to uh just denigrate it over and over and over um if you look at paramount their star trek series just horrifically horrifically bad even when star trek next generation was on cable one uh episode back then in the 80s i mean in the 90s had more viewers than the entire series do these days so whether it's bachar or some other thing that's just horrifically bad uh these folks continue over time over time to make horrifically bad stuff after a period of doing very well stuff it's almost always for that same reason the executives get involved they think they know what's going on uh but uh if you can watch she hulk uh attorney-at-law for more than five minutes without laughing and then turning it off uh you're a better man than i but anyway uh the reason i also bring that up is uh we talked about it about yesterday and that was these game uh manufacturers like hasbro and matel don't really think have anything to hang their hat on anymore i remember you know there were star wars lunchboxes and pizzas and there was a movie that was a ripoff of it was space balls there was a lot of stuff going on when these things were good and everybody loved it now they just kind of pick at the dead bones of all these things and of course big money was in uh came back in a lot of these movies in a form of licensing to make the toys uh we said yesterday the only thing that really ever sold in the last couple of years of any size whatsoever was the baby yoda doll the rest of the stuff has been horrific now maybe part of that was uh the covid shutdowns but i don't think so i think you could have ordered any of those toys you wanted from amazon and for the most part they were available but uh amazon i mean hasbro down a little bit let's take a look at matel um but i'm going to tell you that you know you get somebody that makes something like the sopranos or something like that and everybody watches it is exceedingly rare they generally come into it and how many people knew any of the people that starred in um sopranos before it came out now we're back to the same kind of horrible craft that we had in the early 70s which is we'll make a disaster movie we'll put every star that we can find in it and throw them in the Poseidon adventure the towing or inferno or earthquake or any other piece of craft that they can make and they spend a lot of money and yeah do they fill seats but it never really makes that kind of money and i don't know if anybody i've talked to said you know what i haven't seen earthquake in the last five years i want to go watch it again very few and of course how many people you know uh maybe they live in the basements but they've watched star wars a hundred times uh that is the kind of difference you want some kind of staying power i don't see it in any of these big shows coming out uh to any real extent we'll be back in a minute 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 the technology around us is changing every day with so much happening it can seem impossible to keep up with all the information david white's investment newsletter the technology insider is designed to give you all the information you need to understand the technology that shapes today's markets and tomorrow's future david white has made his living staying on a 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 david delivers his weekly newsletters every friday with updates throughout the week you can get the technology insider at tfnn.com for only 37 in 50 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 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 principal the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor for side fund services llc this program is brought to you by vista gold traded on the nyse american and tsx under the symbol vgz and we're back had a little bit of a dip here on a cell program somebody brought it up in the den certainly looks when you come back now we haven't seen these for a very long time i've seen them come back for a little while and if you're not really familiar with these it's just kind of the wholesale the market's doing okay let's go ahead and sell as much as we can in the next 30 seconds or a minute or two minutes now some of the times are in the olden days before high frequency trading and there was a law that got changed in 2007 but you these would run a lot longer but they tend to be kind of uh and kind of like pop-up crowds they just come out and they've got a market that's uh when they find out that there's a little depth to it they'll sell into it and the problem is that so many of these bids anymore are phony so they really don't know how many are in there i'm wondering whether or not these aren't tests of the market actually find out how many people are truly below that because as soon as it starts moving that way all those orders get pulled out one of the reasons why i ex as an exchange has been talking about being the new model where you at least have to wait half a second before you could put out put in or take out an order in the markets but uh you know what if there if they're thin you can do it does make me think a great deal oh we'd have an apple cuts iphone 14 production less than two weeks after its debut okay there was some news out there it looked to me like it was all over in a heartbeat though so we shall see looks like maybe it was just a headline reader um but uh does kind of uh remind me a bit when these things happen of a story Jesse Livermore told in his book reminiscence of a stock operator in which somebody comes in and says they have a great tip and this stock is going to the moon and jesse picks up the phone uh to his uh his uh broker dealers that are on the floor and this guy says uh i get what it was something like weed or corn uh is going to the moon and uh everybody knows it and he works for some guy who's got the inside skinny on it so he says uh okay let's sell those and of course the guy with the tip goes nuts because why are you selling it i told you uh that uh you know that it's going to the moon i know it for a fact everything's going on and he says uh just give me a minute i've been in this business for a while and then uh he says uh i'll sell 10 000 more and then of course the guy the tipster keeps going uh to bigger levels of insanity he goes if i would have known that y'all you were going to do is the opposite i would have uh have done something else and so he says uh just give me a minute of course back then you didn't find out instantly what happened he says just give it a couple minutes and then he says i got my reports back uh the market held up with me selling 20 000 uh bushels incredibly well so there is a fairly good downside uh support in the market he says uh so um i'm going to put in this next order and he buys 100 000 shares or 100 000 bushes and of course uh he says uh thanks for your tip um i did exactly what uh experience has told me and that is to test the market to find out before i make a big operation uh the test showed that yes there were a lot of buyers right below where we were at now that i could sell 10 000 shares and it really didn't impact the market very much but uh that's it anyway i'm starting to see a little bit of action here uh from apple we'll bring that back up in that but uh you know we can't always sell 10 000 or 100 000 bushels a week or that but uh you can really see how much support and resistance is and it's a really teachable and learnable moment when we do see these come along and you see the volume come in and see just how bad the market gets hit on those we're still we got below uh 30 70 on the s and p that's a pretty big number for me uh as i said i still suspect we're going to do better this week and probably 375 on the on the spies by friday but uh we shall see 877-927-6648 so apple got a little bit of reversal here let's take so what'd you lose you lost uh your uh 145 22 and you've gone down to 140 87 a little under that yeah about 140 87 now we're starting to get a little bit of a bounce now over on probably the instant selling on it i did i was never really thinking that uh all those orders were probably going to be accepted as well as everybody thought they were but uh yeah still in the range okay 877-927-6648 uh as we said uh we've got to take a look at tesla here that's l a and uh not a lot out here we basically have same kind of volume at the lows you've bounced a couple of days and given a lot of it back um we'll find out again tesla will probably be more of an issue tomorrow on what they say about their business in china and if they believe whether or not china is going to be more loose or still continue with the zero tolerance program on covid which is pretty much killing their economy but uh what can you say i'm not one to try to bet pre-bet this uh but uh in the last few times that we've seen earnings from tesla it hasn't moved past the range where you'd actually need to make money uh if you bought the options uh then about uh six maybe 12 hours later in trading you start getting the real move but generally they're pretty good at throwing a lot of cold water on the movement right after the earnings and then it starts moving later okay here okay uh talked about tlt earlier was to take a look at the smh's now that apple has come of course there's eight big public companies that supply apple so we'll see what we did here on the smh's eh kind of giving it back here a little bit um on the tlt i don't know you broke the lows you really don't have any support any lower we'll see anyway we'll be back in a minute i'll go through some of these uh in the smh's 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 seven million ounce gold reserve vista gold has all major permits approved and has retained civc capital market assistance in evaluating alternatives and in completing an accreted transaction vista gold trades on the nyse american and tsx under the ticker symbol vgz 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 for daily market overviews that give you direction on the key indices selective stocks and commodities subscribe to the opening call newsletter at tfnn.com the opening call newsletter is written by basal chapman creator of the trading methodology known as the chapman wave the chapman wave up down sequence gives you an edge in identifying price turns finding the peaks and valleys and stock prices get the opening call newsletter by basal chapman in your inbox every day first time subscribers also get a 30 day money back guarantee if you're not satisfied let us know and you'll get a full refund within 30 days of signing up tfnn.com educating investors everything in the universe is governed by the fibonacci sequence this mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market to stay on top of stock patterns you can take advantage of sign up for the fibonacci 24 seven newsletter at tfnn.com when you subscribe you'll get a weekly report from veteran day trader larry pezzavento on stocks you need to pay attention to and you can trust larry's analysis after all he's got 45 years experience as a day trader larry will also provide daily charts videos and data on the key markets that he's tracking expect notifications from larry on market movement you need to act on at any time first time subscribers also get a 30 day money back guarantee if you're not satisfied let us know and you'll get a full refund within 30 days of signing up subscribe to the fibonacci 24 seven newsletter today tfnn.com educating investors tfnn has launched the tiger's den hosted at discord tfnn has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours the tiger's den available to all tigers and tigers for just one dollar for the year there's no catch or added costs when you join our community of traders sign up today and become a part of this educational community of traders just visit the front page of tfnn.com catch tom will brian professional trader and educator founder of tfnn also a special guest on cnbc tom will bisect and dissect the markets the tom will brian show next on tfnn look at the charts and look at options i didn't see much change out here as we spoke earlier in the show 37370 on the spies is kind of the low end of the range 375 is kind of medium resistance 380 on the spies is massive resistance i don't think we actually go higher than that this week into friday but it is options expiration i always wonder about these quote quote stories that break through the trading day and don't happen after uh as uh maybe uh they're not as true as everybody thinks they are did look at the companies that supply apple and none of them really i mean one percent one and a half percent a lot of them kind of move with it but uh i don't know it smells a little fishy to me maybe they are cutting supply but when it happens like that in the middle of the day kind of out of the blue i'm always uh color me skeptical so anyway i had a question about the iwm i wanted to get to the only thing is you're back up to the previous high last high you had 37 and a half million shares that was the 176 17 high in the iwm today you got into it with 22 million shares you know let's say you get into this with like 32 million shares by the end of the day or 30 million shares it's going to be lighter uh but i'm not going to be surprised to see that we do have a kind of just stumble up into the end of the year that maybe starts now we've been waiting for what i thought would be that counter trend move and counter trend moves in a bear market can last a lot longer than you can remain solvent if you have to stay short now maybe there's another good thing coming out here but my guess is that we're going to probably just stumble up it's not going to be huge but the continued movement or bias is going to be slight into the fall and into the christmas uh and then after that real problems so when you can not when you have to we'll see you here tomorrow building wealth trading in the stock market seems impossible