 The following is a presentation of TFNN The TFNN Bull Bear Training Hour every training day live at 10 a.m. Eastern Call now toll free at 877-927-6648 or internationally at 727-873-7618 The TFNN Bull Bear Training Hour Now Tom and Tommy O'Brien Good morning everybody. I'm Tommy O'Brien joined this morning by our man Basil Chapman feeling it for Tom Basil. Good Friday morning Good Friday morning to you. How are you? I'm doing great man? How about yourself? Very good. Thank you Good. Well Basil another morning another market action day It seems like to the positive side where we are right now where it's session highs the Dow up almost 400 points up 387 that's almost 1.5% trading at 26,884 S&P's up a similar 1.5. Excuse me 1.45% right now 42 points in the green for the S&P's trading 2980 Nasdaq leading the way up almost 1.7% 131 points right now in the green trading at 8082 and you get the Russell's as well up 1.82% That's 27 points in the green for the Russell training at 1512 Check out the S&P quite a run Basil as going over in the update We're about a we're more now than a hundred points from where we were on the futures as of Wednesday night pretty remarkable less than 48 hours a lot of that having to do with the Optimism around the US China trade talks to pull things up even just in the last half hour So getting a tweet from President Trump not sure if there's anything really behind it But nonetheless this is a I believe these times are off for some reason European 949 a.m This morning good things are happening at China trade talk meeting warmer feelings than in recent past more like the old days I'll be meeting with the vice premier today all would like to see something significant happen So a lot of rhetoric in there whether that's based off anything happening But nonetheless the markets reacting 2884 being the high and a pretty remarkable run over the last 48 hours As we come into the weekend What are you checking out this morning Basil with everything happening? We got gold pulling back as well We have the yield up at 1.72% on the 10 year. There's lots of places. I guess that we could start So if you look at the dollar, which is down quite sharply now This is something that I've been monitoring very closely for quite a while because for subscribers to my opening call we've been long the dollar from April of 2018 and What I had spoken to Tom about just recently Yes, and the Chapman way we're always looking for for higher peaks and that that fourth highest peak I alphabetize it a peak B peak C peak D That's what I speak is where other things can happen. Okay, so if you look at the dollar 99.46 on the 1st of October It pulled back just the way it's always pulled back before it's now it's never off the top It's had a couple of big red candles, but it hasn't had the big red candle After it's making a test of the left side low. Okay in the in the daily chart right here You can see I've got a little arch formation at the same time It was a peak D in the daily It's a leg D and there's no way that this by this afternoon. We would go above 99 point 62 that was the high of The high of the 1st of October So it's pretty certain that this is going to be a peak D in the daily But most importantly We're getting a leg D in the monthly and you can see I've got a trend line I'd like to keep things as simple as possible. We've got a trend line this green line Yes, if there was a break above it that would be very important But what I call the Chapman wave inside track repellent zone It's been repelled from this line In leg D and that says to me I've got I've got to be a little careful here in the analysis of the dollar because perhaps The administration is getting now what it's been wanting for a while and that is a weaker dollar I'm not sure what quite is causing it. We don't usually know until Good few months go by But it seems to me that this is the moment where the dollar could have Like it had back in May one of its deeper declines the monthly though is still very positive looking out But on the shorter term meaning short maybe to intermediate term This is going to be important the fact that There are periods throughout the year where maybe for four to six weeks You'll get a move in the dollar and gold that are parallel moving in the same direction Not this isn't the same percentage, but in the same direction This is one of those periods you've got gold down $20 right now 14.81 as you were talking about it Is out of this rectangle formation that it informed as kind of a a magnet price It's away from that 1505 level. Okay, and now that 1465 is that h pattern that we'd be looking at So when you get both you get now the fear factor for international markets about financials, etc Which kind of Leans itself towards going into gold that that's immediately rated the dollar is pulling back And the semiconductors, which is very important as kind of broken out here at 122.74 It's only is less than a point away from an all-time high I have to consider that even though I've been saying to subscribers We have to see what happens by the end of the day today The fact that you've got these three elements as I said gold pulling back semiconductors rallying and the dollar week Tells me that there's a chance That there could be Further gains to be made. I need to see the close today and how we open on monday Because it's saying to me once you break this I've got a pattern here that I call the falling axis Just a cone formation in the semiconductors from the 120 30 now of the 12th of september Lower highs much lower lows now it's making this u-turn this cup formation. It's broken to the upside I think it's important I have to have great respect For the fact that if the semiconductors which are in almost every industry are doing this well I've got to respect that and say hey, maybe this actually will have legs We're going to see if this follow through so we've been sideways you were talking about it just a moment to go One tweet and you can do anything but the fact is if you're looking at the dow Look at this weekly chart weekly chart says you've basically been in a trading band between 27 500 and 24 500 for a long time Big question is do we break above it or do we continue this digestive phase? Yeah, and it'll be interesting. I imagine that That tweet will not be the last tweet of the day whether it'll be a good or a bad tweet It would make me think that with meetings going on the president likes to keep people updated for his rhetoric and I imagine we'll get something more and um You know to keep in mind basal myself just looking at it There's every reason for president trump to want to deal right now to To get some good news on his side politically for absolutely. Yes um with with you know impeachment hearings and ambassadors Going to be testifying. It's just a non-stop stream of news. It seems like with everything out there To have this into the news cycle of course would be something he wants to happen So I would imagine he has every incentive If you think of this as the scales of justice, you know, you've got the left side. You've got the right side If you're going to have impeachment hearings just going on and on and on on the one hand You have to have something going on with the with the trade talks on the other to balance it out for news but most importantly if you think about it as um Something that probably the administration would like to keep going as long as possible You don't want to wrap up the trade deal right now You want to have little incremental bits of good news? And you want to spread that out as long as possible and that's probably the reason why we're looking at The sideways trading ban because I think the chinese also need to play hard. Well, they've got their own um populists that they have to The devil will be in the details right basil and that's what I mean All we have right now is that we're meeting the vice premier and guess what all as well Well, we'll find out folks basil and I come right back markets in positive territory. 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That's 727 329 83 22 call us today Many of our new listeners have heard about the tiger's den The tiger's den is a lively community where professional traders and investors can meet exchange ideas and information in a comfortable moderated atmosphere Hear all of the tfnn shows plus see all the charts as they happen live and have access to archives of all those charts You can test drive the tiger's den absolutely free for 30 days and greatly enrich your knowledge of these markets And how to make your money work for you details on the tiger's den or on the front page of tfnn.com tfnn has launched our brand new website You can still visit us at the same tfnn.com url But when you do you'll see a new and improved home page with a much simpler navigation Whether you're watching tiger tv live in high definition or just accessing your newsletter subscriptions We even have new pricing in six months and yearly options Check out the new tfnn.com now and experience all the upgrades tfnn.com educating investors Fall now toll free at 1 877 927 6648 internationally at 727 8737 618 Welcome back folks Tommy O'Brien joined by basil Chapman this morning We got markets rocking a positive territory dow now up 402 s and p is positive by 45 You got the nasdaq positive by 138 and the russell positive by 2 on the dot of 29 points Basil i see you taking a look at the tlt up there some bonds so this is very interesting because You've had an arch formation that went to 148.19 the tlt which is the 20th treasury bond etf back on the 28th of august Drops i would say plummet but when you look at the left side rally it dropped to 136.54 But then it only rallied to the 146 03 level on the 4th of october And now it's making another arch formation at the same time you can see the magdi Wasn't anywhere close as the magdi right here on the left side of the daily chart Wasn't anywhere as close as it was at the highs in the 147 148 area So it crossed negative and the stochastic briefly went above 80 percent I like that 80 percent level above that is usually very good But below and 57 is showing weakness And that's very interesting because what does it benefit? It's benefit the xlf and the xlf right now is at 2786 Yes, it's stuck in a range between the 28s and the 26s But this is nice to see it rally here I I personally Looking at the banks. I think it's important that the banks find some strength as Proxies for areas in the market that have done their due diligence and everything have met all requirements that are that that the feds demanded of them And that I want to see them break loose from the negativity of the zero fees for the brokerage part of the businesses And act like banks that are really strong So I want to see the xlf start to trade over the next maybe two months Into the 30 31 area to show some independence. I was talking about to someone the other day who's uh, uh has a bond training firm and He was saying, you know, I just don't see the with the peas and all that I don't see the banks doing anything They're just kind of stuck. So I see them aren't you kind of impressed that they've held this well He said yes, but I don't see them leading the market at all so I want that whole the whole group of people that look at banks as um, a relationship maybe to interest rates in a relationship to the to the fees become fairly independent And and acts as banks that have actually well, we know that they charge fees for everything They've they've turned the airline a la carte menu Um where you charge they charge for luggage and everything Well, the banks have been doing the same thing with it with fees in other areas Yes, so I want to see the banks start to do well I want to see them as a part of the market area That is showing economic strength. That's all And what's interesting basil is I looking at this morning big week of earnings for all of them next week I'm not sure if you're aware we got jp morgan Goldman city and wells fargo all on tuesday and then bank of america wednesday and morgan stanley on thursday So you got you got all of them almost in there next week And you'll get at least where we've been the last three months, right with with the rates and we've had some volatility there and and um Possibly where we'll be in the future with some forecasts as well most most importantly I think if you look at for instance goldman sacks It's a different business to the to the way it used to be years ago that andrew has many ipos I think they used to be so so much more involved in that area, but I suspect that they will be back I've always said that if golden starts to trading that it's a two or five right now If you can see goldman at any point this year trading the 227 or higher I think that's going to be a big help. That's going to be a sign to say hey Now we're back in business So, um, that's not that far away. It's just 10 or 11 percent. No, and even I think if it can do it Yeah, I was just going to say even on the xlf not that far away if you if you start to get some movement on the underlying um, you know meaning especially as Especially as they survived up until now With the rates going so low Yeah, um and and the announcement of the fees fees in many of the brokerage house is going to zero percent Yes, I think, um, I think they're holding very well I I agree I mean we you know and I just have the yield up here of the 10 year basil kind of you know The inverse chart of what you've been looking at on the price of those bonds Um, and just remarkable run man. Since the beginning of august We were at 2.1 almost 2.08 call it what you like 2.06 We trade from 2.08 Month of august quite a move to 1.4. I think it was 1.44. Maybe the low one. What about what about 3.24 in october of 2018 I know you try and put things in context and you just have to keep going back You put it six months. You put it to a year You put it for a full year and man. Oh man. There you are exactly November and we're not even in our uh, November yet folks of 2019. You're sitting at 3.2 down to 1.4 And change back up to the 1.9 and now we're sitting at 1.74 kind of right in the middle of where we've been So it'd be interesting to see if basil like you have it on your tlt If we get kind of like that retracement of back up to that 2% number Which will kind of correlate what you're talking about there. What I was discussing with this person is that um, I said don't you think that it's the international pressure to sell bonds and and really a pressure to get to, uh The lowest rate to be the most desirable Bonds that are sold that is putting pressure on the Fed because if you look at the If you look at both earnings Um, and probably the other factors in the market economic factors Things are still pretty darn good especially jobs And that says to me that under other conditions over the decades and decades that some of us have been looking at markets usually when you When you have good economic activity There is a demand for loans and those demand for loans means that banks have an opportunity to raise the rates So the normal thing here would be I would have thought over the normal thing over the last three four years Would be just an incremental quarter point move up in rates But the pressure external pressure is really the issue. So the I I see the Fed is in a bind because on the one hand They know what they should be doing And that is over the last couple of years not lowering rates, but kind of moving with demand But that international pressure is just much greater. We know that in the bond market The amount of volume Is surpasses. Yes, you know, just anything in the millions on trillions. Exactly. Yes Well, basil, we got a call. Let's go to our man victor in parameters, new jersey victor. Good morning Yeah, first one's going to be t u f n at bluetooth volume where it's going now to the extent on a fibidachi downwards and the next one Check up till right if you don't mind Well, let's take a look at that t u f n to start things off. Uh, and i'm gonna let that Is so this is a software technology company victor It's israeli company. Okay, so it's up about 2 percent today or 32 cents the 52 week range Um, though this popping up, but we uh, are we right near that range as I pull this up The blue could have too low so I get on the chair so I might as well as the binocular way down now Well, you know victor, this has been a rectangle formation between the low of about 15 60 and a high of 18.30 So if I can talk to you about the rectangle formation, maybe we can get some that's quite a try All right, we're gonna take a 30 uh three minute break. We'll be right back folks We're gonna look at t u f n. We'll look at till ray as well with victor. We'll be right back Hi folks tomo brian here If you like to get my daily newsletter market insights, then now is a great time to sign up for a 30 day free trial Every morning by 9 30 I send out my morning letter to subscribers with market commentary on a variety of markets currencies and commodities to keep investors up to date on the day's Trading action included in market insights are specific buy and sell recommendations for stocks etfs and even options Which stops and price targets included for every trade in my newsletter If you'd like to try my newsletter risk free for 30 days Then head over to the front page of tfnn and you'll find market insights under trading newsletters I use my years of trading experience to bisect and dissect the market every morning and give my subscribers the most important information They need to know for the day ahead I even issue afternoon updates my subscribers whenever warranted with important market action I'm always scouring the market for the next great trading opportunity Sign up for your 30 day free trial to my daily newsletter market insights today by visiting the front page of tfnn.com Go get them folks The path of least resistance is david white's daily trading newsletter And if you're looking for active trading ideas, then now is a perfect time for a 30 day free trial to this powerful daily trading advisory service David uses his years of trading experience to offer his subscribers his trading ideas each morning in his path of least resistance newsletter Using a combination of equity trades along with options David keeps his subscribers up to date with all pertinent market information with intraday afternoon updates when warranted Don't miss out on this great chance to get a 30 day free trial to david's daily newsletter The path of least resistance with no obligation to pay anything David has been delivering solid recommendations for his subscribers recently And if you'd like to see the type of newsletter he delivers every morning Then visit the front page of tfnn and you'll find the path of least resistance under trading newsletters For all the details and to start your 30 day free trial today log on to tfnn.com now Tfnn is excited about our new software charting program the art of timing the trade chart 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 guardleaf abc's butterflies and much more the art of timing the trade charts is designed to help you When scouring the markets for stocks just beginning to form the trading patterns that many investors spend days weeks Or even months searching to find and right now we're offering licenses available at only $79 a month We are so confident that you're going to love this new charting software that will even give you a 30 day Unconditional money back guarantee don't miss out on this incredible new piece of software Get your copy of the art of timing the trade charts today by visiting tfnn.com This segment is brought to you by think or swim for more information Just click the think or swim banner on the front page of tfnn.com Welcome back folks. Tommy o'brien joined by basil Chapman this morning We have markets in positive territory to say the least and we're on the line with victor from premise new jersey And we're talking about t u f n So basil as you were saying kind of that consolidation zone after quite a pullback though from 32 bucks within the last year Well, you do have to consider that it's an ipo and it comes out Back in was that may I think it was april april. There it is. It comes out at 18.05 drops That is the low 2489 that first month then it screams up to the 31.04 level Unfortunately then drops much below the opening price and it goes down to 15.15 So victor, I don't know if you can see my charts, but you've got your chart in front of you If you look at the way that it came down the daily chart It made an h pattern, you know often talk about the lowercase h that can go to a lowercase m It can become like a worm that it keeps doing these h's Most importantly it mustn't take out the left side low and hold under that for two out of three bars So i'm going to suggest to you if this was a three or four dollar stock it would be easy I just say you know what victor I think that even if it goes underneath It's got a trading range that says it could go and test the 16 to the middle part of the range again But at $15 that's that's big bucks. That's I I wouldn't have the same attitude and I was going to say you could treat it as an option I wouldn't do that at a $15 stock But what I am going to say to you risk reward With everything that's going on today to only be up 31 cents And taking out Having a good day three days ago and then just taking out yesterday And going almost to the low that was made back at um on the 16th and 15 15 I'm going to suggest to you if you want you could just nibble at the stock I just it would not get carried away and I wouldn't be excessive. I'd rather be buying strength in weakness Um, I don't like the fact that it's made made this pattern and just keeps staying in the rectangle formation But if you think of it, wait a minute every time it's gone to the bottom of the 15.70 80 area The bottom of the rectangle the base It's run up to the top If that's what you're thinking that this could be a trade rather than a position play for months But just a trade to run up to the top. This is the place to get in 1586 I would not have a big stop I'd probably have a 50 cent stop on the thing because if it if it goes lower than about 15 70 15 60 I start to get a little worried But that's the way I would deal with it Because it's showing no sustained strength in the sense that it wants to break to the upside the magdies run up the price hasn't run up The stochastics holding nicely the price hasn't been benefiting So that's the way I would look at that one and I would actually add to it if it's successful If you start here and it can cross the 14 period moving average or the nine period and go to 16.50 you could even add a little bit to try to get to 18 and that one I'd lighten up as it was going higher But when you look at tilray It's all the same thing and that's broken. That says tilray medical cannabis And I drew this and I showed this a long time ago. It also was an IPO. This was back in Let me see if I can get the date right here. Yeah back in july of 2018 had a low of 20.10 screams up to 300 exact round number high Tlry is the symbol and then there's a problem and I drew this in I said this looks like what I wrote I typed in here wonderful example of the chaplain wave Eiffel tower or the apath meaning go straight up And then straight down and it's taking out the left side low I'd be very careful property risk reward right here 21 26 If it takes out yesterday's low of 20.59 But both of these I'd call them bottom fishing except that the other one has shown a base that you can identify very clearly This one is a little different in that it just keeps making lower lows and lower highs So this is right now the first opportunity That I'd say to you you've got risk reward at 21 30 because if it closes under the law of yesterday 20.59 That's a 70 cent so so risk That's one way to do it, but I don't see anything technically yet to say that it's made a big turn it can have a balance But at a real turn It's going to take the whole group and the whole group seems to have the same kind of chart pattern Tlry ink and just to add I would be a little bit skeptical Tlry victor only because it's still worth a two billion dollar valuation right now Which is remarkable considering that it's I know 20 dollars. I was trying to do the math I mean that means that was worth somewhere around almost 30 billion dollars probably when it was trading up at 300 dollars Which is remarkable, but I went into just the ownership in terms of the position And you have still privateer holdings, which is I believe that's peter thiel in there as well when this is talked about I mean in this thing got written about so many times and it was up at that 300 But they have 86 percent of the outstanding shares Um, I would just be skeptical of a company that's not really public in the nature of so many of the shares held by one company Um, but they you know the other side of that is I think some of the news today had to do with That they're talking about they have a joint venture with ab and hyzer bush And that they may commercialize cbd infused beverages in canada when legal Um, but man, I would just be careful when you already have a two billion dollar valuation And I put it on a chart myself and it's just remarkable when you look at that run And of course it was talked about because the valuations were just out of whack with even even with optimism in the cannabis sector Which I would have But man, oh man, we're right back to where we were before the hysteria began And who says that that's where it might stop when you still have two billion dollars of market cap value That's out there to be lost or it could be weakened a bit And every single person at yesterday's close who has bought the stock from its eye from after its IPO Is in a losing position every single person except for those who were in on the initial public offering Yeah, I I'd say the people that want to get out are probably more numerous than the ones who want to get in So that does put a cap at about 28 to 32 Uh, that's a nice percentage gain. I'm just saying that that it's just remarkable They should do a case study about how this thing made it after 300 bucks, man Because it was still even if you take that tail off of things it was still up at 150 This is a weekly I have here you're talking about, you know, one two three four Five let alone if you're counting one it was sitting at 100 and we're now at 20 and it's been a slide the whole way All right, victor Well, hopefully he got uh, he got some good hint tell about his two bottom feeders that he's picking up there We'll see what happens All right jumping around basil. Can we take a look at oil? Maybe I was uh, I pulled it up this morning when I saw the headline That uh, let me just zoom it down a little bit That's on a weekly just so we can see some of the action. Let's put it on a 15 minute And uh, you saw quite an acceleration overnight the news that the iranian tanker had had two missiles. I believe it was Um, that it hit it a half hour apart The real fear there whether there might be an escalation between saudi arabia and iran Over the recent attack on the saudi field But pretty muted action basil 54 dollars. Of course, we were at 51 38 that kind of correlates to the lows in the market just to keep things in perspective You have the s and p's up about a hundred points from where that oil was trading at So you're getting a lot of reaction to maybe some Tension, um easing to do with the trade war, but nonetheless 54 dollars on the spot right now As we come in and I hear the music and let me see what you got We're looking at basil cl chart on a 10 minutes 50 404 folks. Stay tuned basil I'm gonna be back in three minutes. We'll talk about some of this crude oil market when we return. 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That's 877-518-9190 If you haven't checked out the newsletters page of tfnn.com What are you waiting for all of the tfnn newsletters are informative up to date affordable And it must have for every trader looking to gain a competitive informational edge in today's markets tfnn newsletters cover every aspect of the markets to offer you the very latest in market news Plus new subscribers get to test drive our newsletters risk-free for 30 days From all aspects of the markets including stocks bonds metals commodities and tech There's a newsletter to fit your needs Exclusively from tfnn Stay informed each day you trade and get the competitive edge that will help you stay ahead of the game Visit our newsletters page by going to tfnn.com and click the newsletters button near the top of the page tfnn.com educating investors Biotech is booming but for how long whether you think the biotech bull has room to run or has run its course Trade labu or labd Directions daily s and p biotech three times bull and bear etfs Visit direction investments.com slash biotech today An investor should consider the investment objectives risks charges and expenses of the direction chairs 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 chairs at eight six six four seven six seven five two three 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 four-side fund services llc Don't forget you can listen to tfnn live on your mobile device 24 hours per day Go to tfnn.com then hit watch tiger tv That's tfnn.com then hit watch tiger tv for the latest market information Welcome back folks tommy o'brien joined by basil chapman this morning We got markets in positive territory oil trading higher as well We have crude trading 54 dollars and nine cents and basil. I see a peak d up there I got a peak b and look at that peak e on a monthly So if you look at the crude oil For months we we we've talked about the range that it's being in that it might have spiked that the last Iranian issue was six on the 16th of september which is 63 14 and then just collapsed Went to 50.99 on the continuous contract 50.23 was the august low now what's really important is I think this is telling us quite clearly and kind of confirming what we had thought back in september That's there. I wouldn't say there's a glut of oil on the market, but there is enough oil on the market To immediately rate the issue and I that's what you look if I'm looking at this chart I'm saying I wouldn't have been able to tell that there was anything going on Other than just little pops in the market. In fact, it's even weaker than just the regular all rallies that you saw in august and early september so it's There's no question that The the concept of oil as the premier energy source has changed over the last 10 years You've got battery. You've got Hydro you got you just got so many other alternatives Solas, I mean if you look at some of the solar stocks, they've been doing very nicely So I think that's part of the issue and and it's a good sign that we we are able to Have these little skirmishes so far that little skirmishes because it's just the old tanker itself and the reflection of what The relationship is to the to the investors concerns and the reality is saying An issue to worry about oops, okay, everything's fine Yeah, and the speed with which it happened is really important because you know that in other periods Anything closer if I think back to 1987 the morning of the october the 19th, I can go back so many times There was not only was the market highly vulnerable, but you got some some skirmish With the israelis and in the middle east. I remember that was the sewers canal back in october the 19th 1987 There's always something yes, and oil just It stays high it goes higher and it stays for quite a while until the issue itself Resolved so I think this is just telling us more about the situation in terms of the availability of alternative Means so oil isn't quite as important as it used to be at least that's the way it's looking right now I agree I mean if you you should be waking up to to the price pulling back as it seems like the political risk The geopolitical risk has has pretty much I'd say it's ramped up. You know you have the saudi oil fields getting attacked You have an iranian tanker getting attacked and you have oil prices below where they're trading at before Both of those events took place which um, and we have a lot of production We are looking at this the increase in time because you went from the 16th of Went from the 16th of september Yes to the 11th of a month less than a month later and now you've got something else now I just seen that there was an explosion. I didn't realize that there was actually an attack So that should have made it even worse. Yeah, and I think there did I think that that same risk was already factored in was how I was trying to rationalize that basilis And the market was aware that you could see some small escalations potentially Um Obviously that's not going to have a huge supply impact on the actual market If anything it would just ramp up the fears and I think maybe those fears they should already be in the market You know that should not be a wake-up call after what happened to the saudi oil field that an iranian Um ship could be attacked as some type of small retaliation potentially physical physical presence could change that in other words If troops, oh, yes talking about you. That's that's I agree. I agree And you know on the supply side of things The middle east used to be everything when it came to oil and that's not the case anymore And it's not the case that we even need oil like you said anymore But american oil huge numbers that we produce as well in terms of energy on our own on our own level So the impact maybe not as tough You know, I know there's a lot of criticism criticism of president trump But we have to face it that um this independence that america has has formed through the use of The development of our oils in various ways That's really a huge positive. I think that's very part of what's happened. That's part of the economic Room that we've been in our economy runs on energy And we needed it for a long time dramatically from the middle east almost entirely And I would say it's a good thing that that is no longer the case for sure And if you think of the america's independence that is also very important because um to be self sufficient Yes, there are negatives, but there are also some huge positives involved So can we jump to gold basil quite a day gold really trading inverse with the market as this has been bouncing around But we've seen gold kind of continue to slide even when we're on the air You started off 10 o'clock. We were at 14 87 as we saw kind of the market pop right at 10 o'clock You saw gold pulling from 14 87 to 1400 I know you gave a great take at the beginning of the show kind of talking about gold the dollar And where we were but what kind of critical level are you looking at this 14 that kind of c point on the daily basil? Is that would that be your low that you're really looking towards that 14 65 of the continuous contract? Let me just see if it's been modified because these numbers change because it's a continuous contract 14 65 but what I wanted to actually That was the thought that I was going to continue with when we're talking about crude oil And when I said you know some kind of conflagration where you've got troops That's something different and I think gold is telling us That this is not a big issue at this particular point because you would see gold up 20 not down 20 If that was the case sure definitely So this is telling if you look at just purely technically if we're looking at this I'll show you something very interesting. Look at the monthly chart We were once back in september of 2011 in gold I don't have to tell you that was an incredible high amazing numbers. Yeah, it's a smoothed out Number so it's a 2054 it could have been something different because it's a continuous contract But it went from the high of september to the low of that little tiny doji candle in december of 2015 at 1143 so when you go from 205 to 1 So it's from 20 to 14. That's a big difference. Yeah, the the percentage is really big I think you're rally but you're rally and you you don't do all that much because you go to the july high of 2016 At 1470 then you come back and you make you test kind of a low in the 1170. It was at 1170 No, it's a 12 sorry 1207 level you tested again in july of july august of 2018 And then it breaks out now. This is very interesting because tommy This is a have a look at this is a monthly chart You'll see a little picture here of a lowercase h that went to a lowercase m Remember, that's the pattern that we were looking at when victor calls him We were looking at that is ready stark They kept on going with an h pattern and then there was another little h And then it broke out, but wait a minute. Look what happens if you go to the gdx The gdx has a slightly different pattern. Yeah And um, that's what i'm looking at the gdx now is stored and those are the gold stocks So there's a difference between gold right now and the gold stocks They are consolidating a little deeper than gold itself I wonder how that plays in whether the dollar whether interest rates and where you're going to park your money Stay tuned folks basil. I come right back I'm certain you are or strive to be one of the best of the best at everything you do in life It's the most common trait that we tigers and tigers share If you're looking to become the best of the best when it comes to managing your money Let me teach you to do what most wealth managers tell you can't be done, which is how to time the markets I'm steve rode's author of mastering probability And for the last 12 months timer digest has been tracking my newsletter signals Which have earned me the ranking as their number one market timer in the nation for the s and p 500 for the last 12 Six and three months timer digest also ranks me as the number one market timer for gold as well The fact is markets can be timed and i'll teach you the exact set of tools that i use that has transformed me into one of the Best at what i do sign up for mastering probability today By clicking on the newsletter tab on the home page of tf and n dot com and get immediate access to workshops Where i take you step by step how to use an extraordinary set of tools as well as provide great market calls too Sign up today If you're a trader in the market looking for exposure to gold or gold mining equities Then now is a perfect time to sign up for tom o'brien's gold report The summer is over gold is trading back above 1500 Dollars and the 10-year treasury is hovering at around 1.5 percent Tom o'brien has been writing his weekly gold report for almost 18 years There's no one that knows more about how the gold market trades and how gold mining equities react New subscribers get a 30 day money back guarantee So you have nothing to lose every monday morning tom publishes his weekly gold report with coverage of gold silver bonds the xa u hui gdx the dollar as well as more than 30 different mining equities as of september 3 Gold report subscribers have five active open positions with an average Unrealized profit of almost 38 percent for each position to see for yourself the types of profitable trades that are recommended within the gold report Sign up today by visiting tfnn.com Since 1984 basil Chapman has been using the Chapman wave methodology to advise traders of his expert market opinion While originally hand drawing charts from the late 1970s into the 1980s Basil noticed that prices under most circumstances virtually always had a certain number of legs to the upside before declining sharply Later basil found that computer software which included the standard market technical indicators enhanced the degree of accuracy and calling price turns As well as market trend calls thus was born the Chapman wave sequence Using the Chapman wave methodology along with other indicators basil Chapman advises his subscribers of his expert market opinion Each market day with his opening call newsletter right now You can get a two week free trial to the opening call basil's daily trading newsletter by visiting the front page of tfnn.com Cancel at any time during that trial and pay absolutely nothing Get your two week free trial to basil's newsletter the opening call 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 Welcome back folks. Tommy O'Brien with basil Chapman markets in positive territory. We get the DAO up almost 400 points Check out the opening call folks right under newsletters. Basil's great service He usually puts out updates saturdays and sundays sometime source subscribers But nonetheless either way you can get a 30 day money back guarantee and basil You're always out there putting out good content for your subscribers I'm sure they appreciate it and I encourage you all to check it out as well Always enjoy basil filling in for the program for tom and you also get access to at least five different archived webinars They all subscribers gain access to the most recent one just in august And uh, I know basil we're always looking forward to the next one So we'll look forward to that as well And I saw you going over fast enough one of the tigers in the den basil We could take a quick look at that because I was curious myself. I saw your commentary Yeah, you know fast and all the stories There are a couple of companies tmo thermodynamics a couple of companies that I've followed for years And hardly ever get into and I always regret never got into because they just they They are masters at sure You know their business so fast enough that an all-time high just gapped up must have had earnings or something It's up 4.85 at 35.89 Really a great-looking chart. Yeah, I could do some banking and filling but I like it because it's part of the industry It's just it's a really good sign if I put it together with syntas, which is the uniforms and overalls Which had a quite a bit of a different 70 to 244, but now it's right back. It's a 270 It's actually made a new all-time high. This is saying that They are parts of the the the um the country that might have had certain slowdowns But these two stocks holding like this is I think that's a good sign for the economy I agree. I know you follow that one for a while and that is a powerful monthly chart for a company delivering uniforms When it speaks to the economy basil as I said, I always appreciate you filling in man Of course, we look forward to the tiger technicians hour at noon today Always enjoyed. Thank you. Tommy you as well folks. Stay tuned fast market coming up next basil back at noon We got Dave white live at two o'clock and larry filling in live at three stay tuned. We'll be right back