 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. This is the offices of Duke and Duke 100 South Broad Street Philadelphia, Pennsylvania This is Billy Ray Valentine Capricorn coming in and our guests today at the break will be none other than Lewis Winthorpe the third disguised as Richard Anderson He'll be talking to us. Hopefully if technical gods You know catch our number today I I posted the chart There's a funny story as someone just posted that a brother have Jamie Lee Curtis on I don't know if you guys know that but when she did that Seen there in the bedroom where she took off her blouse to show her All she got the $25,000 for that and you know, she wasn't a super big star at that time She was big but not super big, but she got 25 grand for that 30 second sequence Whatever that means who knows or I posted a chart of the XLF, which is the financial ETF for financials and you can see here. We're making a very large ABCD pattern up in here And of course we like ABCD patterns and that's what we're watching Let's review some of the things that we talked about yesterday because I think it's important to pay attention to the first thing we were going to do was talk to Mr. Z yesterday about the situation that he was watching in the coffee market And all we were doing was just taking a look at that double top that we had up there and then we drew that little downtrend line You see there from the high at the second double top, you know saying that it was pointing a pointing lower Now all I did today was I just went in and I updated it just to see how coffee was acting to see if it was acting within the realm of what we were expecting it to do And as you take a look at this you'll see it didn't pretty much exactly what it should have done You know we had a little bit of a rally yesterday right up to the 61% retracement and now we started down again So this pattern is still heading down and that's really what we're watching as we look at some of these here today Now the other one that we were talking about yesterday because it was very important at the level that it was at was none other than our good friend Facebook If we take a look at the chart here on Facebook again we take a look at the big ABCD down there at the 78% level You can see the rally yesterday at 343 came in at the 382 retracement that was 342.97 and today the stock is down 6% Now those are just numbers folks we're not looking at you know things that are going on in the news or any of those things Those things don't really count very much at least in our book Now let's see one that didn't work but we need to watch it because it gave us a great deal of information This was the one that we were watching here in the gold market and this is I'm going to try to show you from a technical standpoint why I think it's important You'll notice here that we had a double ABCD up there at 1793 so I gave an order to sell at 1793 risking $3.50 The reason why the stop was so close was because there were multiple numbers there at 1793 that means if it went more Then that $3 move above that it would tell us that it was actually looking rather bullish now all through the night I checked it once or twice but it had not gotten above 1795 during the evening and then when I woke up this morning And this was very early this morning The first thing I saw was the fact that what gold was doing was acting what we would consider extremely bullish let me show you why This is a this is a hourly chart on gold look how you see the little red box there folks That means that gold stayed between 1796 and 1791 for six hours Now I don't know about you but if it breaks above there that that is flat out bullish and That's you know, that's what I by the time that I saw it and put the red box around it and it already jumped $7 There's already trading in 1807 so that cat was out of the bag There was nothing I could do but use this for for general purposes folks if you see this again Remember it's very important remember what I learned to do this stuff with looking at these stocks going up and down I had to use a Western Union ticker tape I had one for the border trade and one for the Merc and this you know These little you've seen them and on the movies and stuff that little ticker tape comes through and all the prices would be there And if there was a new high on the day there would be an H and if there was a new low on the day there would be an L There wasn't any red and green buttons and you know telling you exactly what he was doing and showing you the chart pattern You didn't have any of that so I had to learn that way and do it all by hand So if I'm looking at something over a three or four hour period and I see that the high has been X and the low has been Y And hasn't gone anywhere so as it breaks out above that you know you have to pay attention because that means the The battle between the supply and demand folks is over you know the demand folks won that battle Now so that's why those those areas are very very important But that's how I had to do that and and when when you're learning this you had to be reading the book Reminisances of a stock operator by Jesse Livermore because he talked about those things when he was doing that in the 30s I was fortunate enough in 1976 when I went to work for Drexel They still had the museum in the Chrysler building on the 35th floor Which was his office with the ladders with the chalkboards and all that stuff that was still there And it stayed there. I think until about I think it was about 1979 they finally they finally took it away and stuff. I don't know what they did with it But there was an incredible you know history behind that stuff and people would go there and see what it looked like And it was it was really cool But you know you can see pictures of it occasionally if you go on the line and look at it what it looked like But that's how they did that remember they they would call those in by telephone and then put them on the on the ticker tapes And that's how these stocks were done. Remember the stocks up until they had the source bandits come in with the Nasdaq Stocks were trading at a quarter half in other words, you know I let's say Facebook is trading at say 323 and a quarter It was bid at a quarter offered at a half So the specialist made a quarter cent now this the specialist makes three cents if he's lucky So that's the big advantage that you have you know sitting in front of this computer all day You don't have to own the seat you don't have to pay super commissions because commissions are down basically to nothing All you have to do is correct the mistakes that you make and you can make this business You know something that's profitable But you know back in the old days and that's not that far away that was only 50 years ago 60 years ago That's how it all happened. Where are we going to be 60 years from now? We'll have little headsets on that have little things hooked up to our eyeballs It tells us you know when it when a stock's making a new high you can read it right off your eyeball I don't know if that'll be the case. We already got Dick Tracy wristwatches. We've already seen that happen And so who knows maybe we'll even have Clark Kent come back with his with his Superman costume and be You know won't we won't be bothered by kryptonite so have to have to wait and see hopefully we'll have rich honor to break today He's been absolutely swamped this week and that's what we're paying attention to you have any questions folks eight seven seven nine seven seven You know the number eight seven seven nine two seven six six four eight 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 and 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 What's separating you from the most successful men and women on Wall Street? That's right Information Having all the information gives us the perspective we need to place the right trades at the right time The TAS Profile Scanner is the premier market profile based scanner powered by its acclaimed TAS proprietary algorithms This feature rich scanner instantly filters over 2,500 plus global financial markets such as stocks, ETFs, commodities, futures and forex This powerful suite of tools leverages instant trade filtering and strategy formulation to show you emerging trades before they happen For a limited time you can save $100 off your first month by using the promo code upgrade and you still get a 30-day money back guarantee So you have nothing to risk level the playing field with the TAS Profile Scanner which you can find under the services tab at tfnn.com Sign up today Sharpening your skills as an investor is like getting better at playing a musical instrument You have to practice, sure, but you also need excellent instruction from experts At tfnn you'll get advice and guidance from the authority in 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 am to 4.00 pm 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 Call now toll free at 1-877-927-6648 internationally at 727-873-7618 Okay, we're back folks and I just wanted to affect one of the things I wanted to talk about today because we were looking at shorter time stuff was the fact that how badly the overall stock market was acting today I think I posted one for the mini showing you the APCD up there at the high But the one that is really been acting the worst of course has been the NASDAQ Let me get this up here so you folks can take a look at it You know you'll be able to see here that We had a big break last night right after the close we went from 15485 We dropped 200 handles all the way down excuse me 100 handles then we rallied up to the 78% Now we've given it all back and we're making new lows folks. This is extremely bearish to tape action I mean it really is it tells you there's very little buying coming in on some of these things And that's different than what we've seen before because we've just gone into new high ground I just posted to you the chart to saying the S&P just made a new high up there at 4550 We took out that and went to 4551. We've really dropped 18 handles here in about 15 minutes So that's not good action. There wasn't much up there. That's related to the open interest because if an open interest is not increasing and you don't have new buyers coming in It leaves a vacuum under the table and that's why you need to pay very very close attention to us Now I'd like to spend just a small bit of time here to talk to you about something Sorry about my voice folks. I have a tiny bit of an allergy this morning The weather here has turned absolutely beautiful here in Indian summer and here in Tucson But I want to talk to you about one stock that has been in the news for a very very long time But I wanted to give you a little bit of history. Please tell me I haven't lost it Oh no don't tell me I've lost it. Ah I have not lost it. Let's get it up here and take a look at it Folks this is Intel. This is one of the this was the largest chip maker in the world at one time But here's where we are as we as we see Intel look where we were in April of last year We were making it three drive to a bottom three drive to a top pattern up there at 68 And believe me 68 was much much lower than the high we made you know back in 2016 in this so this has been in a downtrend for a considerable amount of time We actually have a double ABCD pattern up there at 68 but the key thing to look at here is from the high that we made in April Now remember this is getting hit with a lot of bad news off and on off and on all through this thing We come down we have a huge gap down then we have a nice rally that lasts just about six weeks Stops exactly at the 382 retracement of the high from 68 down to the low at 54 to the rally up to 59 Okay, then it breaks down and what did we do yesterday? We made a beautiful ABCD pattern at the 61% retracement of that high And today as you can see it's down about 20 some percent because the CEO came on and said things are not looking too rosy for the next year Well, you know, maybe that's going to be the case or not the reasoning for this folks. This is why being a technician instead of a fundamentalist has some advantages Because when you see these things you don't have to believe what they're telling you you just have to look at the chart pattern The one thing about a technical analyst is the fact that they can lie to you cheat to you give you misinformation fake news whatever it is But the one thing they can't do to you folks is they can't hide from you so prices are going higher There's more buyers if prices are going lower. There's more sellers Now let's take this on the other side of the coin another one that we've been looking here and I've been talking about for quite some time here Is the silent the silent car Tesla and we want to get it up to let you take a look at this because this is a totally different picture As we mentioned before there was nothing in this chart of Tesla that said there was any reason to even think a top was coming. Let's just get this This is a pretty good example here to folks. Let's get this up here so we can see it. Look how Tesla has been acting folks Once you see the ABCD pattern we had there at 800. That was a beautiful one just a little above the 61% retracement We stay there for seven trading days and once we get above 1805 we've got $100 a share. We're I think we made new highs today. Did we? Yes Yeah, we did. Yeah, I think we did. Let me see where the old high was 900 and today's high was 910 We made new highs in Tesla today. So once we did that and we saw a couple of gaps on the way up we had a huge outside data the upside Yesterday this market is telling you know and with the rest of the market down this one's still going up So you want to always sell the weakest and buy the strongest but there's nothing in this chart that tells you there may be a double top up in here And Tesla but they're not going to you not going to test it with my money. So that's what it's looking like with Tesla So I'm showing you this because a lot of you folks are new to technical analysis and if you look at the chart and if you see prices going down when the news is very very bullish That is a tremendously bad indication. That's what we're seeing now in the stock market making new highs and look at the Nasdaq You know it's down 150 points this morning and that's not that's not good news. Look at the S&P You know it's down 20 handles. That's not good news breaking into new high ground like that that is that's basically what you're doing is letting the tape tell you whether there's going to be a you know up or down When you read lever livermore's book and I mean this sincerely I have read that book at least 50 times and then some of those descriptions that he gives about how he was trading and how he was looking at Pennsylvania Railroad, you know making a new high at 101 101 and it was trading at 99 and he said it was trading at 99 he said but I could see it trading at 102 and what happened It turned around and just absolutely massacred him because he didn't pay attention to what the tape was telling him and you know they have several books about this the tale of the tape and stuff There's a there's also a movie with Richard Crenna as a star as Jesse Livermore. I think it might be the I don't remember what the name of it was but I happened to have met Richard Crenna a few times but it's about Jesse Livermore if you google it I'm sure you can find it It's probably on Netflix some way but it gives a pretty indication of what his life was what his life was actually like anyway that's you know that book is a great book if you don't know that book folks you shouldn't be trading because that's the history of what happened during the 20s and 29 and all that stuff and it really gives the mental part of how this is how this works it was one of Mark's favorite books Mark Douglas's favorite books and another one that was his favorite was Mackie's Charles Mackie's the popular delusions and the madness of crowds about how people get totally wrapped up and they might be doing that with Bitcoin these days folks that's certainly a possibility but also when markets go down they usually go down together and that's might be what's happening with the Bitcoin today but you know it's still a little bit early if you have any questions folks it's 877-927-6648 and what we'll do is we'll keep a to keep a pretty good eye here we'll see what's going on all righty now here we've got moving on here we've what we're really breaking hard now and some of these things let's take a quick look at where we are here even the even the bonds are rallying boy that tells you how bad things really are holy moly guacamole that's going to be really really interesting well we've broken down about $15 from the 78% level up there in the gold at 1813 we got as high as 1850 we'll be right back boys and girls are you having fun trading the markets but having trouble finding like-minded individuals to discuss your trading and investment ideas with become an apex predator in the trading markets and join the Tiger's Den trading room only at tfnn.com the Tiger's Den is an exclusive trading room where successful traders from around the world come to exchange trades and ideas join the den and surround yourself with the sharpest minds in the trading world subscribers to the Tiger's Den are also the first to have their questions answered live on air and can privately chat with our tfnn hosts live during their shows interact with other tigers and tigerses as they share trading ideas, news analysis and discuss the market action all trading day subscribe to the Tiger's Den risk free with our 30 day money back guarantee and become part of the tfnn trading community tfnn educating investors whether you're into trading gold, metals, futures, currencies or options you'll get advice and analysis to help you seriously get ahead tfnn also features trading services with a 30 day money back guarantee for new subscribers as well as tfnn's Tiger Den trading room trading software and educational webinars for all trading levels and make sure you check out Tiger TV for free on tfnn.com or tfnn's YouTube channel for live financial content from 8 30 a.m. to 4 p.m. eastern on market days stop watching on the sidelines while other people get rich and become the investor you were born to be tfnn educating investors tfnn is excited about our new software charting program the art of timing the trade charts in collaboration with Tom O'Brien and using his best selling book the art of timing the trade your ultimate trading mastery system David White has programmed an outstanding piece of software that will complement any trader's methodology using this first-of-its-kind program the art of timing the trade charts allows you to scan thousands of stocks for Fibonacci formation setups including guardleys, ABCs, 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 okay we're back folks and I believe we have a caller from Southern California the home of the Los Angeles Dodgers going to Atlanta to win the series tell me my friend what can I do for you today Mike? Yeah those Dodgers are uh they keeping us on the edge of our seat aren't they? What can I do for you? I want you to look at PayPal and they've entered into a deal with somebody and the stock is rejecting the prices it's trading down if the situation like this happens how do you look for entry point or some support? Yeah well I posted the chart of PayPal here and last week we had in fact it was early October we had one of our listeners call in because there was a beautiful Gartley pattern down there at 255 and for there we rallied all the way up to 275 that happened to be an exact 382 retracement of the high that we made on July the 26th it was also a 135 pattern with lower tops with the 50% rally coming in off of September 10th so and then you could see the one day reversal yesterday our day before yesterday was telling you that something was seriously wrong and the today and yesterday is telling you yep it's even more serious than we thought so if we get much below 230 on this you're looking at prices around 150 it looks like possibly in PayPal Wow that's a huge sell off okay Well you know it's been going up forever so How about Facebook you know they've got some troubles and they gap down you talked about that earlier the price that you called like the 318 would that be a good place to look at that well a 318 could be a double bottom but you remember on Facebook you know the high that we made yesterday in Facebook you know was exact again just like in PayPal it was an exact 382 off of the high that we made back on September the 7th and now you know we're trading at 320 something and I wouldn't touch that at 318 because the ABCD on that takes you to 240 so I wouldn't touch that either Mike okay so you just got to watch these things and draw your your feminates in there and watch to see how long did it take to make a five day rally at the 382 well it took five days and stopped exactly at 382 and Facebook at 343 it stopped at the exact 382 in PayPal and so that's the only thing you've got going for you because Mike I can one tell you one thing you and I are going to be the last two people on this planet that's going to get inside information I've been in this business 60 years and the number of times that I've got any information that was good you can count on both of my arms and I could be a double amputee and still have the correct answer I've never gotten a tip that worked ever okay Larry so let me ask you the question now the most important question is a Dodger is going to get some hits when they get back to Atlanta or they seem to have a good day and a bad day a good day and a bad day I guess I got Max Scherzer on the mound so we have something good it's a two game series my friend so you just have to let the trade you know the baseball gods decide which way it's going to go it'll be a bouncing ball but fortunately we can see him play at least one more time and that'll be a lot of fun tonight is Boston and the only two teams that I follow in the majors are Boston Red Sox and the LA Dodgers and I don't know any players anymore we used to live with a bunch of them there in Westlake Village but you know my kids are still friends with their kids but we don't really know any of the players but it's exciting to watch especially when a guy hits you know three home runs in one game he has to hit four home runs in one game and boy even Babe Ruth didn't do that alright Larry well thank you very much you have a nice weekend you bet Mike please do anytime my friend okay folks let's move on here I think we have Rich Anderson on the line Rich are you there yeah good morning Larry how are you living a dream buddy living a dream boy we're getting volatility out here in spades again tell us what you're seeing here in this new cryptocurrency ETF that we got going on there's so many unanswered questions you want to tell us what you're hearing about it well I mean it's a new ETF it's a sec first I'm not an expert on this at all but it's a new TF it came out with the second biggest gains in the last three days of any ETF that's come on board a lot of the players front run knowing that when the ETF comes out they're going to have to buy whatever the product is in this case it's Bitcoin and so that runs the price up in front of the ETF coming out no different than when a new stocks are added to the S&P 500 and everybody knows that those new stocks are going to be added on x-dates all these different funds managing billions and billions of dollars need to add those particular stocks and so there's a run-up going into they adding them to a thing but it's you know it's about limited supply I think the most interesting thing as Paul Tudor Jones talking about I think it was on Wednesday May have been Thursday that there's 3.5 trillion dollars of money flushing around of course the Democrats have about 3.5 trillion dollar bill they'd like to put it with that even more but maybe it does maybe it doesn't it's yet to be seen but you know we have inflation as he's put it and I agree we have inflation creators in the Federal Reserve not inflation fighters you know we're adding more money to the system only need to be sucking it out and so that's that's running inflation and everything use car prices up 37% year over year you know wages wages are up and you know if your kid now getting 15 or $18 at a McDonald's you know six months from now they're not going to be able to tell you well we only want to give you 12 that is not trans-tory these are not trans-tory things and that's why you're seeing huge price increases and all kinds of things and from the agricultural standpoint that farmers are looking at you know what am I going to plant next year well the fertilizer price is up 37% well that's that's a pretty hefty increase and so right now I think it was University of Illinois economist were projecting returns and they figured to cover the cost that the farmers are looking at you know corn price are 50 cents too low well you know if you can't make money on corn you'll plant beans and the bean profitability is much greater because you know there's less import cost but you know in the southeast if I'm a farmer I'm going to plant cotton or beans and I don't know if you looked at a cotton chart lately but it went vertical and you know so the cotton will buy acres from beans beans will buy acres from corn and oh by the way you know our president's green policy which would be used in Vino for biodiesel and Vino by the way I believe has had the highest close on the spot market since 1998 that sounds like quite a bit to me I don't know crush margins though the highest in since July of 2018 at $1.89 for those of you that that don't know soybean bushel is approximately 60 pounds when you crush it you create soybean meal and oil and the oil is approximately 11.8 pounds and the soybean meal is about 48 pounds well I mean we've got a $1.89 crush margin that's huge now let's take corn corn when you crush it you get ethanol you have dried the filigree and the profitability there is huge also right now the new contract ties yesterday on the December 22 corn I mean I'm friendly this but I'm also friendly the metals the opportunity is starting to knock hey rich thanks for joining us buddy we'll have you on again soon rich Anderson folks Anderson capital manage we'll be right back are you in the market for buying or selling real estate in the Bay Area including the surrounding St. Petersburg Tampa and Clearwater markets Tiger Real Estate LLC is a firm that has extensive experience in the Tampa Bay Area whether you're looking to sell your current property for maximum value or you're in the market for a second home or investment property Tiger Realty has the experience across all areas of real estate in the Tampa Bay Area to help buyers and sellers make the most informed decisions across all price levels from the price you should be paying per square foot in certain up-and-coming areas to the type of cash flow investment properties are capable of creating Tiger Real Estate can help you make the best decision when it comes to all areas of the market before you make one of the biggest decisions of your financial future call Tiger Real Estate LLC today at 727-329-8322 or email us at Tiger at TFNN.com 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Tiger TV Okay folks those of you that are driving around in your car in the last 15 minutes gold is given back $30 of the run that it had today we had a high of $815 the 78% level was 1813 and now we're trading at $1774 so let's remind ourselves a lot of volatility coming in here folks so don't be afraid of it just make sure that you use a stop when you're using some of these things as you're trading okay so let's move on to the next one here that someone had a question about so give me one second and I will bring up the chart to show you what he was asking and the question was about the where is it where is it where is it natural gas here's the natural gas contract we've been watching very closely here every day we watch natural gas because it's one of the better things to trade you'll notice here two things I want to point out in this chart and then we'll move to the next one to answer the question the gentleman had you can see we had the big butterfly top up there at $648 from there we went from $648 all the way down to $640 so we dropped $20,000 folks but that took a long time that took nine days okay then we've rallied back and you notice here we got as high as $535 today now I put that black line in there to answer the question the gentleman had this was I think it's Jeff in Atlanta good luck tonight or Friday in the game whatever whoever you like anyway you'll notice here that we have that uptrending channel line downtrend uptrend uptrend channel line is what I'm trying to say you can see a little black line pointing up over the last that's over the last four days of trading now what I what I did do and what I do each day is when I'm watching patterns like that I bring it up so that I can see it more clearly and one of the ways to do that is to blow the chart up or move to a different time frame and take a look at what you're looking at so if you're looking at this natural gas there's the black line you can see the black line I didn't change that at all all I did was I just put an hourly chart over that to just to see what it's doing now you don't have to be a rocket scientist to realize a G those little patterns have some of those little pyramids are good from all our good buddy Pythagoras those are ABCD patterns that's really all they are hold on I think we got a question in here we have a question from Jeff in Philadelphia Jeff how are you Hi Larry doing great how are you I'm good what can I do for you my friend I'm looking at a January soy beans back to I'm sorry one second back to around May of 2020 I had a low of 832 back then and I had a high this past like June around 1479 anyway my question is I'm currently short and I'm looking for a target of a 50% retracement at around 1155 January contract and I wanted to ask your opinion on that well I think you've got a pretty good chance at that let's just take a quick look at the January contract you know we've we had a really nice loan and that then of course we had the short end so let's just get up here we're going to look at it two ways Jeff first we're going to look at it on the shorter time frame where we had the multiple let me draw them in again we've done it so many times here in the air I think everybody would be able to do these in your sleep here but didn't drive it sucks alright I'm going to post it anyway because I just don't have time to redo the darn chart but there's the three drive pattern we were looking at on the 15 minute chart but if we go to the daily Jeff it's you had a perfect place to sell this I mean this is why we recommended the short up there at 1258 it's because we were setting as you can see here right at a major downtrend line that's a 135 pattern we were setting it to 382 of the September high it was a six day move up to the 78% level that was at ABCD on the way up and if you measure just the structure on this just let's just go to a little bit longer term daily here and you'll be able to see what Jeff is talking about here because we will be looking at a very very significant ABCD pattern down here at the 1150 area my goodness Jeff you must have learned something over all these years buddy because that is that is the big you know that's the big target that 1.618 expansion is 1140 and if we look at this on the weekly because you don't want to forget this like what Rich was saying you know we've had a hell of a move here and this stuff you know over the last year you know we've gone from like you said 8 up to 14 but what we want to be watching is you know the longer term picture and that's where Rich comes in and that takes us down to right at your 50% retracement level so that's one of the things that I want to be able to do is to try to get us in some of these things as we get to but right now you know it's got a downward bias at least till it gets to that 1150 area which is 50% retracement. Okay excellent well thanks for the confirmation I appreciate it I hope you get your voice back. Well I will it's just the allergies you know and stuff is nothing else you can do about it so we have such wonderful weather here now it makes it really difficult to not have wonderful allergies because it's such a beautiful time to look at some of these things anyway thanks for calling in Jeff we really do appreciate you calling in I appreciate your emails too. Oh thank you thank you for coming so that's encouraging. You're learning quickly my friend that's an important thing to do. Okay now we'll move back to that natural gas hold on we're going to have to change gears for just one second here someone else has asked another question and that is about the hold on just a second here this is the NASDAQ today I wanted to give you a show you what the NASDAQ has done as far as the action that we had today remember now the NASDAQ did not make new highs we made a marginal new high in the cash S&P and in the futures and marginal folks I'm talking about less than $50 and that's in a contract that's worth 75 grand so don't oh we're over $220,000 sorry but that was not much of a confirmation of a high and the fact that it gave it up so quick it gave up it's hard to give it up 35 handles and it's not even halfway through the morning yet let alone half through halfway through the day so this is what we call bad tape action is what you would want to refer to it as bad tape action so there's one of the ones that we're watching. Okay the next one we want to look at here is the German DAX you'll notice here we get this from our good friend Mr. Tom Hougard and Bob will be doing a day trading webinar with me on the 10th of November you can see we've been in a downtrend ever since the middle of August and we had a big ABCD down there at the bottom we had a huge rally ABCD well ABCD's everywhere Bitty Ray Valentine Capricorn ABCD and you'll notice here we went up and tested this and then of course we gave up the ghost after that. Okay Mr. Z says love your fast market discussion I don't know what fast market is but this one's passed today you know the other thing was the you and I have been through these many many times before but these people with Robin Hood and little John and all these other sites that they have a public is one of them where you can buy the you know by ten cents worth of Amazon they've not been in markets like this and I think that Mr. Market is about ready to call for a postgraduate degree in volatility is what I think is going to happen so be very careful there folks this is not we live in interesting times and that is a Chinese curse it's not a blessing it's a Chinese curse may you live in interesting times so we have to pretend not this does not happen join the dance it's a great place to learn something 8779276648 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 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right here with that little red box there for five hours folks five hours and look what happened it exploded up to the 78% level which was 1813 the high was 1815-15 $2.50 higher now we're trading $30 lower at 1787 this is a function of the fact that there's no increase in open interest in these things folks every time the S&P and some of these things goes up somebody hammers it and then what happens is once there's no buying there the shorts are in control and boom down it comes so pay close attention these are not this is not going to be easy for you unless you understand how to trade some of this volatility one of the key things to look for that volatility is we mentioned and we were showing you the S&P when we had the 382 rally up there right after the break it did you know I know it was only a very short time that it rallied only 20 minutes but that's exactly what it was supposed to be doing and then when you see that that's your first indication that it's not in yet trading is simple but it's not easy as Mark would say let's just go through right now just to give you heads up here now we went from a high down to the low here if this was a low 15-16 okay the number you want to watch for boys and girls if you want to 10 cent worth of advice here and if you pay more than a dime you've overpaid take a look now close eye at 45-29 as Jack will answer that being one thing watch 45-29 that's a 382 rally back okay so if we don't get above that we're heading down if we get above that you know Mezzo Mezzo we could go a little bit higher folks live every day in an attitude of gratitude may God bless live and make sure you take care of your neighbors the best you can because a lot of them are having a lot of problems we'll see you on the flip side