 the power trading hour with your host David White call now toll free at 1-877-927-6648 or internationally at 727-873-7618 now David White and welcome all to another excellent edition of the power trading hour as always we come here at the appointed time the following takes place between 2 p.m. and 3 p.m. and what do we have today well we're up about 100 points on the S&P cash actually 98 at the moment NASDAQ's up 314 Dow's up 706 and we had a lot of people continuing to think that this is not some kind of more than a couple of day bounce in this market I said yesterday and even through last week that the very light volume probably was going to see some kind of bounce I think we could get maybe back up into the 4100 area by the end of the year I'm not looking for a huge move but also it's probably going to be very choppy all the way to the end of the year but I have a feeling that we're probably looking at the Fed laying off just a little bit through the end of the year and see what happens they'll probably come back and tighten more after the first of the year but I think we have a little bit of a window here part of that being the elections and so they'll stay out of that for a little while could if it gets real bad could they come back in middle or late November they could but right now I tend to tell everybody I trade like I am in fog and I can't see as far out as everybody else tends to say they can see I try to drive within my limitations and that limitation right now I think is two three months I think we're looking at what are we here at the first of October so you got October November and December generally if you can make it into the first of December it's probably not going to have a lot sometimes after the week after Christmas you get some movement but my guess is we're just going to kind of stumble up and around kind of like Otis and Mayberry who would just stumble around town till he got home to his jail cell but the drunkards walk probably higher for a little while and it was just because we are so oversold I can't understand a lot of people thinking that this is just a respite but we had we had exactly what we haven't had in probably I'm going to say 12 15 years and that is a bottom being beaten out that's what they actually have termed it we've lived in a world where we've if we had a you bottom or you top it didn't last very long we had kind of a you bottom here that took a week of trying to break through the lows it really never could you finally got a bunch of people through everything at the kitchen and the kitchen sink at it on Friday's close to get it down below the low and instantly popped right back up I tend to think that you can price and volume is kind of like the movie Jaws he had two barrels on the shark and it kept on bringing the barrels down he put three barrels down on the shark I mean he may have put four I haven't seen the movie the end the last year anyway he says there's no way they're going to hold that shark down with three barrels on it and of course eventually he pops back up to the surface and that's kind of what we're looking at we had well two barrels well we had three barrels no not going to hold three barrels down so it popped back up and that's kind of what we have right now we've got a market that's popped back up there just wasn't any real juice to blow it through the lows we needed about 18 billion shares we were getting 11 and 12 billion shares yesterday we did have a little bit more volume to the upside but it wasn't huge today it does look like it's going to be a lot more and if everybody keeps shorting we may be able to get up to 4,000 fairly quickly we'll see today but I've been waiting for some pullbacks to add to some positions that we've had that started to go higher last week I wouldn't an incredible perma bear as many were going into Friday 877-927-6648 email me at path at tfnn.com and of course you can always put a message in the den so what else do we have going on here today well that's it I think a lot of people ignored the TLT bottoming I think they ignored the dollar topping and we're getting you know gold back into it's uh like Stella got his groove back gold's finally coming them off the lows probably going to get some pullbacks and some of this stuff it's not a one-way trip and I don't think it's just we're going to go straight higher but in either gold or the indexes but probably the worst is over as I said probably through the end of the year we might have something if everybody decides to book in the last week of the year but if we're going to probably have another big leg down I guess is it after the after the end of this year a lot of stuff happening but that's kind of it see what we have had a question early in the day I wanted to get this out of the way and the thought was from one of our den guys what's going on with the whole freedom of speech on social networking how does that all work out why the Supreme Court did already say that they were going to pick up five different cases the one in the fifth circuit looks to me like the one that's going to make it to the Supreme Court on freedom of speech on social networks I know many people are talking about Elon Musk getting Twitter I think probably the best thing would be that the case from the fifth circuit makes it to the Supreme Court my guess is that they're going to affirm 98% of what that judge did mostly because it is one of the best rulings I've ever seen or heard of for going through every possible argument on a on a ruling so they're really going to have to dig into this to find some reason to not follow that fifth circuit call and a lot of people somebody in the den earlier in the day I don't know I may have I maybe I read it wrong was saying that that you don't have to or you can't push first amendment protections on public businesses and that's why I'm saying you've got to read this thing because yes you can it goes the presidents go back over 170 years some of the biggest cases were decided in 19 in the 1980s on this so the question is is there a right to first amendment right well we know there is in a constitution the question is is there a right in the constitution somewhere to censor and when you kind of turn the question on their head I think you get a much better view of it but I think once these guys start to work on making their business work instead of trying to push an agenda I think it's going to be better off for all of we'll be back in a minute I mean inflation we are purchasing powers eroded there's no better place to protect your harder and money than in gold this the gold's flagship asset is the monk cod 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 tail one mining district this is a large-scale low-cost project with significant existing infrastructure in a politically safe and friendly mining jurisdiction this the gold just completed the mount 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 mount Todd as an attractive fierce pot ready development stage gold project this the gold trades on the new york stock exchange and the symbol vgz are you grinding in the market but seem 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 a 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 found a 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 at 1-877-927-6648 internationally at 727-873-7618 on this day in 1957 the first man-made satellite to orbit the earth but one is launched from Kazakhstan marking what is now considered the beginning of the space age surprisingly the world with its successful launch but nick triggered the space race between the soviet union and the united states ushering in an era of rapid advancement in the field of space exploration after three months in orbit sputnik re-entered the earth's atmosphere burned up on january 4th 1958 and of course if there's a little more to this story one we were actually a couple of months ahead of them but the president Eisenhower at the time was afraid that if he stuck a satellite in orbit that then the russkies would start making a lot of hey about us having satellites that go over the soviet union but if they put one up and it went over us then they'd have nothing to talk about this went unreported until some of these documents were unearthed in the early i think it was 2005 or 2007 we actually found out in fact our first satellite uh wrote around in the creators of its trunk for about three months until he got to go ahead from Eisenhower to launch it and so now you know now you know the rest of the story yep on this day in 1957 okay other things going on as we said strong day i saw a lot of people earlier in the day in the den talking about maybe a pullback i don't see it right now we have really a day day and a half more of a potential fund buying and we'll see how that works out probably get a little bit of pullback after that i don't know how big it will be but as long as we continue to have very decent volume here it's going to be problematic for the bearers to mount a big defense in the short term as i said i have a feeling they're gonna short and short and short and when they finally give up shorting probably the end of the year the market will be ready for its next download download download down uh leg potentially on thursday we have tim ord back uh so uh we'll uh look forward to talking to him if you have any questions make sure and get them to me uh before and let's say by noon on thursday uh we can ask more but generally if you give tim some time he'll make some charts and uh graphs and uh stick figures uh he likes to spend a lot of time he's not the one from uh actually grabbing uh from the hip very much not a hip shooter but we'll look at that uh did okay what else do we have let's go ahead and start looking at some of the bigger movers and shakers in the market uh with the usual suspects um and see big gap up on microsoft it didn't look that good until later in the day yesterday um last 15 minutes started to see a lot of volume uh today you have a nice gap higher uh saw uh high of uh $250 and 36 cents again probably some back and forth and filling over the next probably week as we look at some of these my guess is that uh many of the short seller bears uh are not wanting to give up very easily in this market um the one that they were pounding on to actually get the lows in the market and try to break the back of the market uh was apple over the last few days uh again apple kind of acting just like what uh microsoft did which was it didn't really have a lot of volume uh apple is right now as far as i can tell the weakest of the big four as we look at this uh others out here we'll take a quick look at uh um not surprised to see netflix and some of these other uh streamers not do well uh the litany of big budget movie or series hitting uh the streamers and them doing horribly uh is uh pretty epic by the way uh the uh one that comes to mind right now is the uh the uh what was the name of that one not the yeah the lord of the rings kind of reboot uh that uh amazon has spent a billion dollars on uh it looks like if they actually truly had to write it off on the books they may be writing off uh 550 or 600 million dollars on it if uh you uh amortize how many people actually watch it uh compared to the 17 dollar a month fee it's hard to break it down but uh just a great deal of uh different shows uh that are really doing poorly as of late i think uh some of them are just really noticeable she hulk uh apparently they spent all the money and went broke and didn't have any money left for cgi apparently most people that i've heard that have watched it um now they're watching it because it's literally so bad uh because of uh spending all the money on the cgi not having anything left to actually make it look good um but uh you got some light bounces in things like disney today it didn't do much yesterday it's so up on light volume of about 6.6 billion shared excuse me 6.6 million shares so far today so uh what can you say uh in video uh having its big run i thought it would start last week uh did go last saturday uh i mean uh it did start with a a nice little hammer candle for friday uh yesterday it was up a little bit today a nice gap my guess is this is one of the most shorted stocks we're probably gonna see this one go a lot higher before the shorts give up and that would be when i would think that i would sell if i was long um or think about reshorting but i don't see any reason why uh why to do that same thing with advanced micro devices uh not a lot of juice in this one so technology is up it's not looking that good though today uh not strong we'll see what happens by the end of the day micron is one of these uh self-serving things like i'm going to give a billion dollars to charity but uh it's going to be over 30 years micron talking about spending a hundred billion dollars saying that their first uh facility be up uh around uh ibm's old uh semiconductor factory i'm not exactly sure what um what's going on with that but it looks like they're going to try to be in that area probably because they think that there are a lot of people that used to work for ibm in that area that could go to work for micron building stuff but uh at least they're going to build one fab in upstate new york um so you got that again um get a lot of volume you had more volume yesterday we'll see how the the day comes in uh technology doesn't seem to be that big a deal today so probably if you're going to see any pullback it'll be in technology first we'll be back in a minute 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 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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 as we come back looking at energy today let's just look at the xle you've got two nice gaps higher you generally get two gaps you're probably going to get three so I think we should watch for tomorrow for the OPEC meeting my guess is that this pattern holds you're going to get one more gap either tomorrow or into Thursday or Friday I think we'll get probably before the end of the gap or into the week one more gap higher that is probably the short term high in energy I think it's going to continue going on you got to think that the OPEC plus one folks know that we're out of oil here in the United States we've run the strategic petroleum reserve lower and probably pretty much to the point where we're out of any emergency fuel so is there anything really to change their idea that they shouldn't at this point just start restricting production and one of two things are gonna have well I think the easiest thing to happen is watch for a crew to really take a run over the next three to six months or we could change the path of energy production in the United States but that's kind of a no flow fly zone with the current administration so I don't see anything other than the first scenario holding sway and that is we're going to see energy continue to go higher anybody that owns the ability to make it today especially in the United States basically got a monopoly since they're not going to let anything new no new wells no new exploration no new nothing that's actually a fairly good business and I don't know what else can change that so yeah I'm pro energy as far as owning any of these companies I'm not so sure that you're gonna see the big profits in the refiners in the cracks bread operators but certainly if you can get it out of the ground you're gonna be the clampets but that's just my opinion okay see what else do we have here to question about looking at the smh real quick I think a lot of the other folks you got your first big gap today just so many people short the smh not going to be surprised if you get a couple of more gaps higher in this before it's out you could you could continue moving to 215 before you actually even get in and possibly change the downside trajectory so that is kind of a big move let's see if we go a little bit more here that's kind of a big move just that would be a 50% retrace at 215 the reason I like that mostly is there's a double gap there those double gaps go back from the 9th of september and then the 13th of september on the downside volume is good today you did have a little bit of a turnaround on monday but it looks to me like you're probably going to get in the neighborhood of six or seven million shares today in the smh's and we'll see my guess is a lot of people are going to start blinking that have been short the smh's for a while so you may get your pop again I think that's probably one of the weaker sectors in the market at the moment but that's it got a question from Ron about pltr you know this thing's been coming off the the lows for seven days you really don't have a lot of volume I think you want to probably your email didn't say what you were doing with it I would love to see a pull back to about 787 that's about a 50% pullback from today's eye that doesn't have a lot of volume so far and you've got kind of a doji out here but anyway somewhere around that 787 eight dollar level on light volume may be a continuing move higher company has good products the problem is that they can't talk about them because they're all top double top secret we talked about this from the beginning it's very it's one of these stocks that if I was going to buy it it would be buying it for the 401k for the long term not the short term where everybody concentrates on what the latest headline is in the media one of the we talked about how I think or at least I've said how many ignored the bottom in the TLT and the top in the dollar not many people talking about either one at the moment mostly just talking about the indexes but I think you got a pretty good indication when you tested the TLT on lighter volume on September 27th that at least the worst was over in the short term you're not really going up out here in kind of light volume sideways action on the TLT but as long as that does not go down I think you have some ease not great but some interesting prospects to see the market go back higher of course the big thing is the dollar coming off that high so I haven't looked at it last hour so let's go ahead and do that see what do I have here okay we're down to one ten fifty seven so we're making a run again down here at the low of the day and what was that uh to low one ten and two cents just under two cents so a hundred and ten and two cents uh we'll see whether or not we can test that whether that holds before the end of the day as that dollar comes off I think that is a good sign for the general market also 877-927-6648 email me at path at tfnn.com I'll be glad to answer your questions uh see what else do we have uh easy uh taking a quick look at the emerging market etf this thing is a big mover mostly uh moves on china markets uh since china is closed this week um I'm going to say that one of the things you probably want to do is get a lot of sleep saturday night when china reopens sunday night because you're probably going to have a fairly decent move uh in the indexes sunday night as china reopens so you want to keep that in the kind of the back of your mind but certainly a huge move in the edz which is the bear market etf following our markets my guess is you're going to have the same thing in china uh come sunday night uh see if there's anything else I wanted to get here okay sam wants to look at uh the uh g not the gld the gdx uh the larger small cap gold moves uh very nice move about here volume uh we'll have to wait until it comes in but looks like you've broken the previous high on the gdx you've done it with volume yet uh 20.7 million shares on september 12th uh you've got 24 million shares it doesn't look at the moment like you would close above it but that may change uh but you have a little bit more for the first time in a while maybe in the last year or so you actually have some very decent energy that is more than the energy on the way down uh in the gold miners so maybe we finally got a floor you can trade off of in uh gold we shall return like patent 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 paper whites 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 the 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 etf's 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 four-side fund services llc this program is brought to you by vista gold traded on nyse american and tsx under the symbol vgz as we come back yeah well we'll look at this gdxj to see if there's anything else here gdxj volume is a little bit in comparison to its previous low a little lighter but the day ain't over yet we learned that from curly and city slickers but you could probably break the seven and a half million shares from september 12th before the end of the day you would like to see a close a little bit higher but i i know you know as many times in the last few years as you've been disappointed in gold though it's a tough trade to hold through a previous high these days a question about uh twitter and uh what if anything's going on with that i don't know uh wondering if they aren't just running the shorts uh if this isn't a uh easy way to do it um i haven't heard of seeing anything other than rumors reported uh but uh and crazier things have happened uh i don't tend to get into uh headline driven stocks as much um tesla just kind of going halfway into the middle of yesterday's bar um i think a lot of people are starting to figure out that electric cars are going to be uh rather pervasive and the what is a de facto monopoly for tesla probably going away more and more people are starting to see the trade-offs of having an ev uh compared to having a gasoline powered car especially as i've brought up over the last week for towing vehicles like the big ford f-150 ev uh where you know if you can tow something more than 60 miles you're going to have a problem uh but other things like that uh it's just tough you're you know you've had a monopoly for a while are you going to have or continue to have that no they aren't there's going to be more competition i've always thought the books were a little bit cooked if not thoroughly roasted at tesla is it enough to go to jail over no but my guess is that uh we're going to find out a lot of stuff as warren buffett says you only know who's swimming without a bathing suit when the tide goes out i've always thought this was a pre-split uh 40 dollar stock so could you see 15 on it 20 i think you could uh over time there it's a massively uh capital intensive and intensive business and i think the more you and the longer you go the more you're going to find out that uh tesla just sucks a lot of cash in to keep up with the jones isn't by the jones is i mean for chevy uh christler and a bmw everybody's getting into it um he kind of capitalized but my guess is it's going to uh margins are going to slowly go down and they're going to treat this company like they treat all the others and that is that it makes most times around six to eight percent on gross margins right now they say they make 20 i think it's probably more like 15 but uh it'll take a while for the truth to will out okay we looked at that we looked at that uh take a look at the xm e on that um again you got two gaps here i would assume you're going to get a third gap maybe it's and then the next day or two uh but to my guess is if you were along this uh and you bought it to the lows and you had that kind of uh intestinal fortitude to hold um you got an 80 chance of one more gap higher and that's where the easy money is going to be probably done on the xm e uh you are at kind of the top of a confluence range um this isn't a brick wall it's kind of more like a uh like a backyard fence uh at the at this point uh but uh i would not be surprised to see if uh energy goes higher with the opac meeting and announcements tomorrow that we see kind of the same similar thing it seems to be tracking it very well and part of that probably the dollar but uh we can see some other stuff 877-927-6648 email me at path at tfnn.com uh any questions for the din uh before we finalize this we'll look at some other ones got a couple questions to uh a question about ray dalio in case you missed it um i think it's uh the news has been out there he's been trying to quit for 12 years and just never really liked anybody that tried to replace him um i think there's been five or six people over the years uh that he's tried to hand off his 150 billion dollar hedge fund too that's a awful lot of power you're controlling a lot of money uh and uh i think old ray just said i was going to wait until i made a bunch of money he'd been very short the market i think he was covering over the last week or two and once he kind of got uh his positions down and manageable i think he was ready to announce that was it but um you know these guys have a nice run in 20 30 years you can kind of have a little bit to crow about i don't know if there's a lot to say about uh what that means for the market i just think that he wanted to go out on top and uh he had a bad year during the first year of the pandemic but uh he made up for it from them i think but uh happy trails uh stld steel dynamics you got about a 50 percent uh retracement um you have a huge gap down back on the 14th that came down with 3.2 million shares uh you're coming up to that gap with about 900 000 shares so far uh yes and 50 percent retracement would be 7850 uh you've got just the bottom part of this gap what was the uh open for that day 79 11 so my guess is that you want to if you get one more bounce in the market which i think we could you probably want to be a seller right there at 79 ish um back in that one 78 50 50 percent you're probably going to test or go at least in to this gap down a little bit and at that point maybe you get some shorts the squeeze but you want to be uh have your finger on the trigger right back in that area std yeah uh we'll be back in a minute wrap up the show 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 accretive transaction vista gold trades on the nyse american and tsx under the ticker symbol vgc vista gold executing a strategy to create shareholder value you might think that if you want to be successful at trading in the stock market you're going to need a crystal ball after all it's impossible to predict the future right like any endeavor in life before you decide it's impossible get some advice from the experts you might find that it's not so impossible after all 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 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as we get back i got a question again to look at india's etf here in da you got a nice gap higher you don't have a lot of volume maybe that changes before the end of the day i would say that most of these if there's a big gap down your first target would be halfway from that dip down 4235 is that first target for india if you get a second gap then i would hang on for a third gap as i said about 80 percent of the time you get two gaps you're going to get a third one so you got a nice gap today the volumes really hadn't come in maybe it comes in later in the day so you want to watch that about five minutes before the close but you know 4235 probably not beyond the scope of reason especially on some of these folks as they unwind as i said next week you're probably going to get the other shoe to drop when china reopens out of its golden week another question here is is it true it takes 500 thousand tons of ore to build a thousand pound ev battery i don't know if that's exactly true it certainly matters where you're mining it if you're mining it in chili the answer is no you could probably get something like uh two or three or four to one in in that now if you're talking about in the united states it's a rare earth mineral um it has a couple places in the globe where it has an incredible concentration um and of course for all practical purposes we'd be if we uh decide that we're going to stick with lithium ion batteries uh we are just really substituting opac for chili because they basically control it all but uh yeah in certain parts of the world they do mine it because it's cheap but uh yeah you could move 500 thousand tons to make a thousand pound ev battery in some places just not chili sell when you can not when you have to we'll see you here tomorrow and tom uh takes it off to close up the day building wealth trading in the stock market seems impossible