 and other important tools for analyzing this sector. Sign up today on TFNN.com, TFNN Educating Investors. The following is a presentation of TFNN. Trade, what you see. With Larry Pezzavento. Call now, toll free at 1-877-927-6648 or internationally at 727-873-7618. Now, Larry Pezzavento. Okay, looking good. Billy Ray feeling good, Lewis. We're gonna take a look at the E-mini S&P. This is a four-hour chart going over the past couple of weeks. As you can see here, we have a three drive to a top pattern coming in here at 42.98, so far we've been to 42.91. We're still waiting for that. That would be the completing pattern that we were looking at. But folks, remember when you're looking at these markets, and this is really important, and we talk about this all the time, is this is, you know, we've got several markets. We've got the Dow Jones E-mini. We've got the NASDAQ, which is basically 10 stocks. The Dow Jones, which is about 16 stocks. We've got the S&P, which is basically 500 stocks, and we've got the Russell 2000, which is the small cap, which is the second most popular of the stock index. But look what we had going today in the Dow Jones. Right before this monster jobs number came out, we had this, we were watching this pattern. Of course, we were the thing we were waiting to get into, of course, was the E-mini S&P. We weren't going to do the Dow, but you can see that we had this really nice pattern up here. We had a perfect 135, you know, setting right at the 78% level. And then, of course, the news came out of the jobs number, and then we all know, you know, what happened after that. And that's why I wanted to show you what a pattern failure looks like, because when these patterns fail, folks, you've got to stand aside. The risk on this, had you been able to do that, would have been about 100 points. You had been out. And of course, we've gone up now. We're right up a little above the 61% retracement of the high that we made, you know, way back there in May. Now, if we take a look at the Russell 2000, which we've been following that for quite some time also, and I wanted to bring that to your attention too, because it's a totally different picture than what you might think. So let's take a look here at the Russell, and you'll be as surprised as I am when you see this, folks. It probably won't work today, but this has been at the, look at this, at the 382, folks. We've been there one, two, three, four, five times. Now, this is the time where probably because we're up 2%, which is, you know, way past one standard deviation, and it's right there at the 382 retracement again. And maybe it's going to break out to the upside. We got the VIX at the below 15 handle. That's down 5%, folks, in one day. You talk about bullishness coming into the market. Boy, this is truly a bullish day, no matter how you want to look at it. Now, if you look at this, a part of the things that we're watching with the Dow Jones, this came from our friends over across the pond, and they were looking for a strong market today, of course, because the pattern that we had in the Dow Jones, we talked about that 32,700, and now we're 1,100 points higher, or actually 1,200 points higher than that right now. We actually went quite above the target, as we said here on Thursday, Wednesday, we made that beautiful, you know, it was a perfect bottom, almost. Well, it was perfect. That's when the S&P was down. Let's just get that up to remind everybody that these patterns, ABCD and stuff worked pretty well. That's when the S&P was trading at the 30, let's try it, 41, 74 level, 41, 76, and now we are over 100 handles higher than that in two days. That tells you how bullish the market goes. It's not all related to artificial intelligence either, folks, because there's other things that are making the thing move as high as it has. Now, whether these patterns work or not, you know, I don't really know. All I do know is that one of the things that we were watching yesterday was the fact that we had a beautiful pattern in the short possibility in the gold market up there at the 40, excuse me, 1995, 96 level. And of course, we're $30 lower today on that. That's looked like it's moving lower. And since we're on to the gold, I wanted to bring you some information. I know Bert Dohmann of the Wellington letter, one of the finest fellows that I've ever met in this business and a real champion of cycle analysis. But I wanted to show you his view of the gold based on his cycle analysis. I just got this this morning. Someone was kind enough to send it to me. And you'll see that this is what we were looking for. You see, that's that ABCD. This is the gold miner index. You can see the Gartley that formed several days ago. What we were doing was selling that 3A2 off of that. So that's what we were watching. Now, the other one I wanted to bring to your attention, of course, is the longer-term picture that he is extremely bullish on gold, folks. He's hoping for a four or $500 break due to the debt thing or whatever it's going to be. I don't know the fundamentals behind it, but this is the longer-term picture. He points out this massive resistance up here at this triple top. We all saw that. That was at 2070. And then now we're moving down. Remember, we still have a 1505 target and that's $60 away. I don't expect to be short that whole $60, but the fact that it's moved $30 the first day is a good sign. Now, that's a longer-term chart. And I'm not in longer-term, and I'll tell you why, because the risk to go into a trade longer-term is kind of tough. And I don't like to take these $4,000 and $5,000 risk like some of these folks do. To me, that doesn't make any sense, especially since I know a lot of you folks are smaller traders and stuff. And we're trying to find ones that give you a better chance of getting into a market without breaking a leg. The perfect example of that was yesterday when we were watching the Euro. If you recall, we were watching that head and shoulders pattern that came down into this area right here, and then we exploded to the upside. Now, the Euro's backed off a little bit today about 50 pips, but we're still well over 100 pips ahead in this. And so we put our stop in, so we lock in a minimum of $500 profit. Sure, we have to give some up, but the only way you can do that is to stay in some of these and hold them for a little bit longer. That's what we were trying to do in the soybeans, and we got stopped out on the exact low-tech folks, and this thing has not stopped going down at all. I'll just show you. You won't even believe where it is, because it's just about ready to take out $12 a bushel. And you'll see here, we were trying to buy it on the pullback last night, but we got down a little bit lower here, and then it just exploded to the upside, and it continues to go higher. That's one we missed, and that happens. You know, it's never gonna be perfect about this, but if you think it doesn't bother me, you're absolutely wrong, because it does bother me, because I miss it and you miss it, and that's not any fun. We had great fun in the gold market. We've had great fun in the Euro. We've had great fun in the bonds. We did take a small loss on our last bond trade, but the other three were very, very popular to the upside, and also the natural gas is acting really nicely. That's what we were trying to buy that yesterday, that $215, and it got all the way up to $224, which was our first profit objective. So we're gonna stay tuned for a little, what we call commercial, and when we get back, we got some other charts that we wanna share with you. So stay with us here, folks. 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For all the details and to start your 30-day Tiger Forex Report subscription today, visit the front page of TFNN.com. TFNN, educating investors. Steve Rhodes started his trading career as a student almost 20 years ago and the student has now become the master. Steve won the prestigious Timer of the Year Award in 2018 and barely missed that mark again in 2019, finishing at number two for the year, an amazing accomplishment. Steve Rhodes is committed to sharing his techniques and knowledge with anyone who wants to learn and he shares his vast amount of trading knowledge every day in his Mastering Probability Newsletter. Steve's award-winning newsletter, Mastering Probability, is delivered every trading day with updates throughout the afternoon. Sign up for Steve's Market Newsletter, Mastering Probability, and you'll receive access to seven of Steve's educational webinars absolutely free. At TFNN, all our newsletters come with a 30-day money-back guarantee, so you have absolutely nothing to worry about. Visit TFNN.com and try Mastering Probability, 30 days risk-free today. 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 market's open to give you the competitive informational edge you need to succeed. These newsletters are packed full of Tom's advanced technical analysis and are geared to deliver comprehensive strategies for a successful portfolio. Get Tom O'Brien's newsletter, Market Insights today, and try all of our products and newsletters 30 days risk-free with our money-back guarantee at TFNN.com. TFNN, educating investors. Toll-free at 1-877-927-6648, internationally, at 727-873-7618. Okay, folks, I put a chart up here. It's a weekly chart of the December wheat, and I just want you to see the very large ABCD pattern. Remember, back here at the top, this wheat was trading at $13.50 a bushel, and everybody in the whole world wanted it, and now it's trading at under $6 a bushel. Well, actually, it's got the 610. It's trading around 634 right now, but nobody wanted it at that particular point. That's what these patterns are really trying to show you is supply-demand. When I posted that chart of the E-mini S&P at that number of 4297, I believe, a Heisman 4291.5, that is just a completed pattern. But just like the Dow Jones, it might fail. But remember, the Dow Jones is really only 16 stocks. I mean, you're talking about Apple, Metta, I mean, these real expensive stocks, and because it's price-weighted and not cap-weighted, those stocks that are heavily overpriced, are not overpriced, but high-priced, it makes the index move faster and up and down. So that's why you have to pay close attention to that, because it's a situation that'll really move very, very quickly against you, just based on a few stocks like Goldman Sachs or Apple, Metta, it's trading for 400, Tesla's not in the Dow, but Goldman Sachs is, all those will make it move very, very quickly. Now with the Russell 2000, you've got 2000 stocks, so that doesn't move nearly as quickly. And the S&P, you've got 500 stocks, but there's a problem with those 500 stocks. Not a problem, but I just wanted to show you this because I showed it yesterday, to me it's the most amazing thing that I've seen statistically in a very long time, and this is the S&P 500, okay? And as you can see, that 493 of these companies are making, does not make up the market. The market is made up by seven companies in this index are bigger than the energy section, the material section, the financial section, and one other section that I'll tell you in just a second, and that is the industrials. All four of those sectors are not as large as the seven largest companies in the S&P 500, which are Apple, Microsoft, Google, Amazon, Nvidia, Metta, which is Facebook, and Tesla. Folks, that is a skewed distribution, so you gotta be really, really careful up in here, and no matter whatever you do, is always put a stop position in there and to protect yourself, and you'll be far better off than you wouldn't be any other way. We're almost to our price now in the Dow Jones. We're getting, oh my goodness, we're really getting close to it now. We're only about four or five points away, so that's gonna be a really interesting one to pay attention to, so we're gonna be watching that one really close for sure. That's the main thing to remind ourselves of that. When we're doing that, we wanna be able to make sure that we cover that when it gets there, and hopefully it'll be there while we're on the air here, but we're only on the air for another 32 minutes, but you can make it quite easily, but that number, I'll just bring it up to you again. Now, this might fail, but this has got everything that this is mother-gotten country. If you're a pattern recognition swing trader, you can't ask for anything more than this. You just gotta be patient to wait for it, but there it is at 42.98, roughly 4,300, we're at 42.93 right now. You've got the ABCD pattern perfectly. You've got the 1.618 expansion of that move right here at 1.618 also, so you're risking what, 10 points on the market. And remember, down in here, folks, we said this market was probably gonna go a lot higher because that's when we had the Dow Jones making the daily guardly pattern. That was an easy one to pick out, so we thought it was gonna go higher. I know several people have asked me why I didn't go long. I did not go long because I wasn't short and I just didn't want, I had too much going on. I was longing, okay, and I was a little upset about getting stopped out on the low-tech and soybeans. The gold trade was working out really nicely. The natural gas trade had worked out real nicely, and we had one other one in there that was pretty good. Well, we had been short the S&P down to the 41, 39 level, and then we hadn't been in it since that time, but I just can't do all of them. And I've been focusing on the grains because I see a major bottom, so that's why I can't get them. But this was the one we're looking at now in the S&P, that's the kind that you wait for, either up or down. That's making a difference because sometimes the ABCDs are to the downside, and that's also what you're looking at as you're following through with some of these. So that's really what I'm trying to do when I'm doing these, I wait for them the best I can to give you the lowest possible risk that we can do. The one thing that we haven't had happen, not going wood is to have long strings of losses. We've had two or three losses in a row, but we've had also quite a few profits in a row too, but not long strings of losses. And that's what you wanna do is you wanna remind yourself that you don't want to put yourself in the framework of trying to dig yourself out of a really bad hole because those holes are not very much fun and it's really something that you just don't want to get away from or out. Now only five points away in the S&P, so we'll see. It's got two and a half more hours to go in the market. Was it one, two, three, two and a half more hours to go to get to that, but I will be surprised if it doesn't make it, but that's the main thing. But here's something to keep in mind and I'm going to do more work on this. This is that picture of the S&P showing you how the skew is 493 stocks and seven stocks that are making the thing go. You can see that's, there's your seven stocks right here and the rest of it is down in here. If this is true, you're looking at a three drive to a top pattern, there's drive one, there's drive two and there's drive three plus you have the larger ABCD pattern and it's already completed and it's all NASDAQ related. So that'll be very interesting. We did make a new high in the NASDAQ today and I think we made the secondary high too, but the leader of the pack today, of course, has been the Dow Jones because any S&P, both of them are moving pretty good, but that's a completed pattern. Probably is one of those kinds that's gonna fail, but no matter what, we've had a nice day so far in the Euro, we had a nice day in the gold market, a good day in the natural gas market and we're waiting to see if we're gonna get filled here in the S&P here relatively shortly to see if it's going to work, but I've got my mind focused so much on these grains because I think something really big is getting ready to happen in that grain market folks. I sent a special report out this week and the main thing that I was watching of course here was this 382 here on the July soybeans and we hit it and then went a little bit below it and had our stop a little too soon and now it's about 60 cents higher and so we're gonna be doing our best to get in that. We're gonna take a break here and then we get back, we're going to have Bob Miner, the dynamic trader as our guest. The Gold Report. As a precious metal, gold is still king. It continues to hold the most effective safe haven and hedging properties across the global major trading hubs of the London OTC market, the US futures market and the Shanghai Gold Exchange. The Gold Report. Tom O'Brien publishes his weekly Gold Report every Monday morning for subscribers consisting of coverage of the XAU, HUI, GDX, the Dollar, Bonds, the South African Rand, as well as 25 different mining equities with specific buy-sell recommendations. The Gold Report. New subscribers get a 30-day money back guarantee so you have nothing to risk. Subscribe to Tom O'Brien's Gold Report newsletter now at TFNN.com. 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 24-7 newsletter at TFNN.com. 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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 4.00 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. This segment is brought to you by Think or Swim. For more information, just click the Think or Swim banner on the front page of TFNN.com. Okay, folks, I believe we have Bob Minor, a dynamic trader on the line. Bob, are you there? I'm here. Bob, you know what? You're only about 2,700 miles farther away than you were before when you lived three miles away from me here in Tucson. Exactly. Where do you live now? You live in Greenville, North Carolina? Greensboro, North Carolina. Greensboro, okay, and do you like it there? I like it a lot. I really like North Carolina. Well, I bet they like you too. Well, we've known each other a long time and I want to congratulate you. I just saw what you finished third in the World Cup Trading Championship and there's a lot of people in that thing. So congratulations to you, my friend. I know you've done those before and have done well. So you've got something that you want to talk to us about. I posted the chart up here of the S&P. So do you want to start there and tell us what you're looking at? And then later in the show, we'll tell the folks how they can reach you and you've got a special program form and stuff. So why don't you talk to us about what we're seeing in the markets right now, Bob? First, about that trading contest. That's like the sixth one in the last six years that I've been in the top five places. So I show that not to warrant that anybody's gonna get those kind of returns necessary. And by the way, it's real money, real trading. But I look at markets as someone looking for a specific trade and trading every day. So those are some of the results I've had. So I don't look to be a forecaster. I don't like forecasting because that's not what trading is about. Trading is about identifying a specific trade and then managing that trade. So let's go to the chart. And that's, we're talking about the weekly SPX, is that correct? Yes, sir. That's the one we're looking at. And we are looking, yep, so far away. Well, it's very timely that we're gonna talk about that now because for several weeks I've identified some time factors and price factors, whereas next week, the weekend in June 9th should be the maximum time to complete a weekly high. It's probably gonna be done this week. It's probably gonna be a, by the news sell the fact. Now that they, I'm assuming they have some sort of agreement on the debt ceiling because it was a big update today. I don't watch news, but I'm assuming that. But I think that's going to coincide with a very significant top in the stock indexes. So we have a momentum cycle that's had an extreme, actually made a bare reversal last week. We have a price not too far above the market that around that area, around 42, 44, would be probably about the maximum upside. And then next week is the maximum weekly target. So what's important about this is that the advance, if you use Elliott Wave, I use very practical, simple Elliott Wave. It's really helpful for making trading decisions and understanding market position. But the advance off of the October low, the only way you can look at this from an Elliott Wave perspective is as a correction, a complex correction, probably A, B, C, D, E. If that's the case, what follows a correction? Well, a resumption of the trend prior to the correction to a new extreme. So here's how I word it. And then the wording is very important to get your mind focused correctly is that the S&P is reaching an extreme position from where a weekly high is made, which was being in a position to complete the corrective advance off of the October low. So I don't know if that's gonna happen, but I know it's in a position. I'm gonna be looking for a trade here in the next few days on the bear side with the potential for at least a three to five week decline and potentially to continue down much lower, well below the March low. Ooh, well below the March low, that's a significant correction. Yeah. Okay, now the next one we're gonna take a look. That's the possibility. That's what the market is in a position to do. Now, as you know, it's all trade strategies and trade management, how you take advantage of that potential trade. Okay, now the next one that we're gonna be looking at is a blow up of that larger one that shows the price area that you're looking at. You got him circled up there. And I think we're pretty close to those levels right now. Aren't we, Bob? I haven't updated it yet, but it looks like we're pretty much spot on at those levels. Yes, I mean, we've probably either touch in or maybe even slightly exceeded if you're talking about the 42, 44 price level. Yes, that's what we're gonna get at. Yeah, exactly. I think it's probably getting real close to that today. And that's a really key level. That's just real simple, 100% alternate price projection of that December to February advance. And the next week is the maximum time to make a reversal. Typical anyway. And that's a really important time factor that most people don't look at. It's the low to low to high. So it's the December low to March low to the next high will be the week ending June 9th. And that's not the time target to reverse. It's the maximum time target from where a comparable reversal should be made. Okay, I have a question, Bob. You and I have known each other for a long time and I've watched you develop some of your software and stuff. Do you still do the dynamic trader software where you do the wave counts and the theoretical relationships of the patterns and stuff? Do you still do that? You're looking at it. That's what those screen captures are. Oh, that's the screen tracks around there. There you go. Well, Bob, it's been a long time since I've seen it. It's probably been 10 years because of the fact that COVID and stuff. But anyway, that stuff really does work. I've seen it over and over how well it's done. Now, there's one other, we got a couple of other charts here that I wanna cover. We're gonna have a break here and then a short intermission and then we'll get back to something else. But these are key factors from the dynamic traders report. Do you want to tell the folks, just read to us. So the people that are in the cars and stuff and watching this a little later, get an idea of what you're doing here with this dynamic trader worksheet that you have. Sure. I just completed, it's about a 38 page pre-election year cycle report. As you know, there's what's called the presidential election cycle, the four year cycle and that each year of that four year cycle has some biases to it. The pre-election year, which is this year and this report I did is just on the pre-election year. So I did it in more depth than I think anybody's ever done, anybody's ever seen. So these are just three of the biases that everybody should be aware of in any pre-election year, including this year. Number one is that since 1950, there's only been one pre-election year that closed down on the year and that was just down 1%. All the other pre-election years have closed up on the year. And that's a significant piece of information to have. Now that doesn't mean every year is just consistently bullish throughout the year. There can be a lot of volatility, but more than likely by the end of the year in a pre-election year, the market's gonna close above the open. And that can be very significant because the March low is basically at the open of the year. And then in 16 of the 18 pre-election years, there is a distinct low made around October, November, followed by a fairly meaningful advance that averaged about 10%. So that's... We're gonna take a break here and we come back. I want you to tell the folks how they can get in touch with you and you've got a special offer for them. How's that? Oh, you do. Okay, we'll be right back with Bob Miner of Dynamic Trader, folks. Stay with us. 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 Basil 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 in stock prices. Get the opening call newsletter by Basil 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. 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 market's open to give you the competitive informational edge you need to succeed. These newsletters are packed full of Tom's advanced technical analysis, and are geared to deliver comprehensive strategies for a successful portfolio. Get Tom O'Brien's newsletter, Market Insights today, and try all of our products and newsletters 30 days risk-free with our money-back guarantee at tfnn.com. tfnn, educating investors. 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&P Biotech three times bull and bear ETFs. Visit directioninvestments.com slash biotech 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 866-476-7523. 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. This program is brought to you by Vista Gold, traded on the NYSE American and TSX under the symbol VGZ. We're back folks, we're talking with Bob Minor of the Dynamic Trader and Bob, tell the folks, it's Bob at dynamictraders.com, is that correct? No, to get ahold of me, touch base with me, it's DT at dynamictraders.com. But you can go to the website at dynamictraders.com and they get all the information and you can sign up for our Traders News for absolutely free and you get free updates. We send you. Is that with a money-back guarantee? Absolutely, double your money back. Hey folks, listen, this guy is one of the best Elliott Wave guys I've ever met and the reason why is he doesn't sit there and worry about two, three's and fives. He gets it down to where you say buy here, sell here. So I've always respected that about you Bob. So you've done a great job over the years. Two questions. Do you ever hear from Carolyn Broden anymore? Oh yeah. Is she doing okay? She's retired. She's doing fantastic in Las Vegas there. Oh my goodness, that's good. And the second question is, do you remember Mason Sexton? I certainly do. Yeah, he's coming back onto the limelight. His son was in the CIA's on Fox all the time but I saw a thing from Mason and he is really calling for a major depression starting in the United States here in July. And I was really shocked because I had known Mason quite a bit. I've been to his home in Manhattan several times and he's a really sharp guy. But gosh, he's been, well he's only been dealing with specialized clients for the past 15 years but he's coming back. I'm trying to get him as a guest also but I wanna thank you for being our guest today and maybe down the road you'd like to come back on especially if you see something really important like what you're looking at right here. And of course, Bob, if you're wrong on this one we'll never hear from you again so we wanna wish you a happy life. Yeah, you can delete these, can't you? If that's the case, you and I would, we were being deleted a long time ago if that were the case. Hey listen, thanks for joining us my friend and I hope to run into you one of these days. Okay, take care. You bet folks. Bob Miner of the Dynamic Traders used to live here in Tucson when we first got here in 93. He was already living here. I came here because this is where Walt Bresser used to live and I've got to know Walt very well and I always loved the weather and of course Bob was here and a whole bunch of other people so we used to have our meetings and stuff about well every three weeks we'd get together on a Saturday morning and we'd all discuss stuff so he's done a great job and he worked with Jerry Pegdon. Jerry was from New York and he worked for, oh no, Henry Kaufman is who he worked for and Jerry told us some wonderful stories about Henry Kaufman. I'll tell you one right now that is really funny and they were in a meeting that he was with Solomon Brothers and they were discussing about going into junk bonds. This was back in the early 80s when Drexel was going crazy with the junk bond market and they were gonna have a vote at Solomon Brothers on whether they should go in to junk bonds or not and Jerry was at the meeting, he is a PhD in economics and he was Kaufman's right hand man and Henry, Jerry told a story to me and I've heard it before because I've seen it in print. Henry Kaufman got up and he said, I'll tell you what folks, he said, if we go into junk bonds my partnership is up for sale for 50 cents on the dollar to anybody who wants to buy it and there was dead silence in the room and one of the other guys got up, one of Kaufman's friend looked at him, he said, folks, if this tight SOB wants to do that we ain't going into junk bonds and they never did and that's a true story. Anyway, that's what I got from Jerry and Jerry was a pretty good straight shooter about that kind of stuff but anyway, it was a rather funny story about his feeling about junk bonds. The other story about Henry Kaufman was in August the 9th of 1982, Henry Kaufman came out and said, interest rates will start lower for the next 25 years and that was the bottom of the bond market and the bottom of the stock market, August 9th of 1982, just go look at your charts and you can see what happened. He lived a long and happy life. Henry Kaufman did, I met him just a couple of times but he was really a pretty good guy. I was lucky, I got to meet some pretty sharp guys, Paul Volcker, Milton Friedman, Henry Kaufman. So I was pretty lucky, there's probably a couple other, well, none other than Napoleon Hill and W. Clement Stone and Tony Robbins. I met some really fun people through my life and I've been very, very fortunate. Anyway, folks, that pattern that we're looking at here in the S&P may or may not work, it's got all the things. The fact that you, if you just looked at Bob's charts there and you saw where the highs were made, they were at jobs reports. You don't think someone would put a number that would be wrong, do you? Like 319,000 jobs and maybe it should be 106. Well, what they do is in a week or two or a couple of months they might correct that. Oh, we interpolated the digit wrong or something. And believe me, if you don't think they do that kind of stuff, they do. That's why I'm a chartist is I'm watching that kind of stuff to see that it doesn't happen too often. It does, but that's either here or there. So nothing else you can do about it. So let's just remind ourselves of that. Regarding the gold trade, I posted this up here so you could see what we were looking at yesterday because it lined up just about absolutely perfect. Now this was the June contract we hadn't rolled over to the August yet. And that's what we were looking at. That number in the August came in at 1996 and we're trading at 1966. So that's been a good move for us. The Euro's done really well today. The natural gas is done, that's made about $500. I didn't go long, yes and P, not because I didn't see that it was going up is the fact that I just didn't put the order in. And believe me, when we were down there in the Dow Jones the other day, this was flat out no-brainer. I mean, we've talked about it on this, we've talked about it Tuesday, Wednesday, Thursday, every day this week, because we were off on Monday. And now we went all the way up here. This is high today, it was just a little above the 61% retracement level. So that was a beautiful Gartley and I missed that one but like I say, I miss some and some I get. That's basically it. One thing I do do is I don't let it bother me except when it's soybeans because I got stopped out on the low tick and within one penny. And we still were way ahead on the three positions that we put on, but we gave half of it back and then to get stopped out on the low tick, you got to just shake it off and forget that you left money on the table and that's what I'm doing. So I've got orders in on wheat to buy it back. I'll just show you came very, very close today in the wheat market of getting filled on this order but the problem was it didn't want to go down another two pennies to get filled. And so it left and went up another 12 cents but it'll give us a chance. One thing about these markets, they don't stop trading. They come back and they'll be right back with you right away. The next time you're ready to put a trade on, you just have to get ready to prepare for it. Preparation is a lot of it but and the other thing is, is to try not to get emotionally involved. In fact, the only thing I was emotionally involved about with the soybeans fact that I got stopped out on the low tick, that doesn't feel very well but you have to get through it. We'll be right back. 877-927-6648. If you're looking for potential trading setups in the stock market, then Rocket Equities and Options Report is a newsletter you should try. 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Don't forget, you can listen to TFNN live on your mobile device 24 hours per day. Go to TFNN.com and hit Watch Tiger TV. That's TFNN.com and hit Watch Tiger TV. Okay, we're back folks and we want to thank Bob Miner for being our guest today. I want to leave you with that, the last chart of course. I was the, that three drive pattern in the S&P E-mini and that comes in at 41.98, I believe. And we went to 41.94. And okay, we could go to 4,300, 4,500, who knows? But because when they fail, they fail badly. Anything above that 1.618 level would be, would be, well, we caught, well, you would be selling at 42.98 and your stop would be at 4,308. And then if you get stopped out, we'd look at it again on Monday to see what happened. But the emotionalism today is very high when you've got the VIX down more than 5% in one day. That's two standard deviations and we've had big moves down. And we also, I just noticed that the Russell was above the 3.82 of the high from last, let's see, was it November? By just by a little bit, but at least it's done it. And it's only done it five times over the past few months. So that's another one. So these markets are, and we are above the 61% retracement. I'll show you that here again in the Dow. You'll be able to see that blue line that we're above that by about 20 Dow points right now. So it's with two hours to go. A lot of things can happen is like Basil says, you know, it's still early in the day, but who knows whether that's going, whether that's going to be the case or not. But next week, the next week, what we're going to do is one of our guests is going to be Jeff huge of Alpha Insights. And I'm also hoping to get Mason Sexton from Harmonic. Gosh, I can't remember. Harmonic timing, I think is what he called it. He's a really smart guy. And listen, we'll see you on Monday folks. Live every day in an attitude of gratitude and may God bless.