 The following is a presentation of TFNN. Power Trading Hour with your host, David White. Call now toll free at 1-877-927-6648 internationally at 727-445-1044. Now, David White. And welcome all to another exciting edition of the Power Trading Hour with me our humble lovable and squeezibly soft host as always. We'd like to come to you at this time. The following takes place between 2 p.m. and 3 p.m. Yeah, there is. S&P Cash. We've gotten down to the range of 802.13. And I'm thinking, I'm trying to watch out here, we got a lot of volume already. We're about 5.3 billion shares as we start the show, which is a lot of times we're struggling to get 4 billion shares. No specific reason today on Friday why we should have larger volume than the rest of the week other than the move down. Now, the question is with pushes to get a bunch of IPOs out next week. Is this just getting everybody kind of short so that they can run them next week or is this going to be extended selling that they cannot recover from next week to push out some of those larger IPOs. So, man, it's close. Even down 42 today, I'm wondering whether or not we're going to see a pop in the puts by the end of the day. We haven't seen that yet. No one's shown any kind of fear at these higher prices that they've all shown you for you. But now we're back into it. We've got some decent pullbacks in the market. Now, the question is, do they try to run this thing up to the top and ring the bell next week? Man, yesterday we talked about the rumors floating around. We got the same thing on the opposite side today. Man, they couldn't be more bullish yesterday. They were running all over Wall Street, spreading rumors. Today, just the opposite, into the world rumors. Yesterday, pie in the sky rumors. It seems a little stretched or a little manic depressive, and I'm wondering if they didn't push it up yesterday just to clobber it today, just to try to bring back some kind of push higher in the next week as they price many of those IPOs on Tuesday night. Some of them will be Wednesday, but it looks like it's a payday. Most people think that big men of Wall Street make most of their money trying to get cash out of us humble retail traders. The big money that they make are on IPOs. They get a big cut of it. They work to push the price high and then get out of it. It's not uncommon for them to make $1.5 billion on a big IPO, sometimes as much as $5 billion. Man, do they hate it when you get involved and start selling the market when they're trying to get something out. Whether it's Facebook or something else, it doesn't matter whether or not they make that money in the first six months or a year. It would be more than willing to wait for the market to go up and then get out when the getting's good. But for them, pretty much free money. They charge upfront and then kind of like a protection racket where somebody comes by and goes, yeah, it would be tough. It would be really horrible if someone threw, I don't know, like a brick through your window every morning. Yeah, yeah. But you know what? If you deal with us, we'll make sure that when people say nasty things about company, whether true or not will be their protection. It's like the humble and lovable protection racket in the big cities. Some of it's justified, some of it's not. But man, the amount of money that these guys make on big IPOs, always an issue. One of the things that they hate about markets now is that these things come with such high values already that it's tough to make 1,000% on some small IPO. When you come to market as a $50 billion or $100 billion valuation, how much higher is the thing going to get? Maybe $150 billion? Before you lose interest in it or a couple years go by and you want to ring the register to make your numbers look good on Wall Street. So next week certainly looks like maybe today was a push to suck in as many shorts as they could and set up a bull trap or a bear trap for next week. Now this is one thought. We've had some selling and it's continued on. But guess what? When does fund buying actually start? And that is next Friday. So they'll probably, when we get to the IPOs coming out on the 28th and 29th, they come out on the door. I mean, that's the doorstep of fund buying. That's when everybody wants to mark everything up. No use giving a sucker and even a break. And when you put money in your 401k, you can bet they're going to tell you and sell to you at the absolute highest price they can. So I don't mean to be not just skeptical, which I think you should be, but really sourcastically just glum on it. It's what they do. They are not there to fund Mother Teresa in India. They are there to make money. They didn't go there to build anything. They went there to find their fortune. And many of them, I don't think they really care. I mean, that is the reason they went there. So when you're swimming with the sharks, don't come to me when they bite your leg off. That's what they do. Kind of like the frog and the scorpion that goes across the river. I won't sting you. I won't sting you halfway across the river. He stings them. It's because it's in their nature. They didn't go there to solve cancer or, like that, go to India and help the downtrodden. They came there to make money, and that is the one thing that they do. From the moment they show up to the moment they go home. So we've got big volume. We're at 28, 13, so we're almost 10 points off the lows and the S&P gas. We've got some fairly good volume. So what does this mean? Do they go push this back up to the highs? And if we continue with a light volume up there, that could be a ring the register long-term high for the market if it continues up there with a light volume. The problem is that it's so spotty that it's hard to give a real good indication right now. Yesterday, you could have made a lot of cases for going long. I made a big case just because they were out there blowing so hard on the politics that I probably should have stayed away from the market. And, well, at least I didn't go long. Didn't go short either. Didn't go long. We'll be back in a minute. The Taz Profile Scanner is the most revolutionary piece of trading software that you will ever try. Wouldn't you like to approach the markets with confidence? When you begin your trading day, it's likely that you'll be faced with lots of decisions. In order to make the best decision, the first thing you'll need is a strategy that will help you minimize your risks. Whether we're in a bull or bear market, a good strategy is to have the tools needed to help you scan and analyze the markets before you trade. The Taz Profile Scanner instantly scans and filters over 2,500 global financial markets such as stocks, ETFs, trade futures, and forex. Headed by Steve Dahl, president of Taz Market Profile, the Taz Profile Scanner understands that in today's technological world, the use of top-flight software applications, automated trading algorithms, and technical analysis expertise is essential to successful trading in today's market. Whether you're looking at the trade matrix, the ETF heat grid, the market breadth, the landscape charts, or the many other features of the Taz Profile Scanner, this is a piece of software that will revolutionize how you look at the markets and set up your trades. The team at Taz has even put together a 12-part video series to walk you through every aspect of the Taz Profile Scanner, which you can find directly on the Taz Order page at TFNN.com. Sign up now for only $97 a month with a risk-free 30-day trial so you have nothing to lose and everything to gain. See for yourself how you can harness the full power of the Taz Profile Scanner by visiting the front page of TFNN.com today, and you'll find the Taz Profile Scanner under the Services section. Remember, with a 30-day money-back guarantee, you have nothing to lose. Don't let another day pass you by without trying out this amazing piece of software that will revolutionize how you look at the market and how you place trades. Sign up today. Many of our new listeners have heard about The Tiger's Den. The Tiger's Den is a lively community where professional traders and investors can meet, exchange ideas and information in a comfortable, moderated atmosphere. Hear all of the TFNN shows, plus see all of the charts as they happen live and have access to archives of all of those charts. You can test drive The Tiger's Den absolutely free for 30 days and greatly enrich your knowledge of these markets and how to make your money work for you. Details on The Tiger's Den are on the front page of TFNN.com. TFNN has launched our brand-new website. You can still visit us at the same TFNN.com URL, but when you do, you'll see a new and improved homepage with a much simpler navigation, whether you're watching Tiger TV live in high definition or just accessing your newsletter subscriptions. We even have new pricing in six months and yearly options. Check out the new TFNN.com now and experience all the upgrades. TFNN.com, educating investors. Call now. Toll free at 1-877-927-6648. Internationally at 727-873-7618. On this day in 1765, an effort to raise funds to pay off the debts been the vast new American territories, one from the French in the Seven Years' War. The British government passes the Stamp Act on this day in 1765 legislation levied a direct tax on all materials printed for commercial and legal use in the colonies, from newspapers and pamphlets to playing cards and dice. Just about everything with a tax. And of course, starting the Revolutionary War, pretty much on this, at least the road to it. It's kind of interesting to see articles like I saw yesterday. We talked about it before. I made fun of New York, I don't know, a couple of weeks ago, when a lot of things were going on with Amazon about the movie, the 80s movie, campy movie about Escape from New York. And a lot of times I make fun of stuff. I just know that it's such low-hanging fruit that it's going to come out there. And of course, yesterday one of the pages of the New York newspapers had that, Escape from New York, and I knew it was coming. I knew it was coming. But I don't know, the thing they had in there said about 40% of people there say they can't afford it. And I always wondered about those super high tax states because I tried to avoid them all my life. But you know what? No state tax down here in Florida. Come on down. Spend your dirty, filthy money at our hotels because that's where we tax people. Our hotels and restaurants and other stuff. And the subjects get a break. It's not bad. Of course, not everybody wants to go to every state in the union, but we make it work down here in Florida. On this day in 1765, America's founding starts by telling people we hate high taxes. We hate taxes. We hate, hate, hate. Everybody says they love taxes, especially in those high tax states. And guess what? Their taxes actually went up. Oh, we don't like taxes. What we mean is we want other people to pay our taxes. It's always the way it is. On this day in 1765. Okay, so what else do we have going on up there to do? Okay, let's go ahead and get some charts going. We'll be with Tom O'Brien at 3.30. We'll be talking technology. We have some interesting articles to talk about that. Let's get into the real movement and see if there's any real damage done. I know we've got some... Okay. Let's see what else we have. Just going through my email here. Okay. Check on that. The first question we had before the show, and I think it was about Nokia. Let's see if that's what it was. In okay. The question was what's going on with 5G. And again, Nokia, Ericsson, big places over, I mean, big deals in Europe for 5G. And of course, a huge gap down today. And what do we have? Well, the bonds in Germany took a giant hammering and are down to zero. So basically, they'll take your money and give you back your money, but you won't make any money on your money. And they may even have some fees to charge you. And any of these companies that have to start borrowing money, the problem with all these inverted yield curves, including here in the United States, or bonds being zero worth nothing over in Europe, is that no one has a real need to lend money anymore. And when Nokia and Ericsson go up for all this 5G stuff, it's all going to be massive, massive, I mean, massive infrastructure spending, $30, $50 billion, $100 billion by the time it's all done. And only guess about how successful it's going to be. So if you can't borrow the money, you can't do these giant infrastructure deals. The infrastructure deals are pretty great if you can borrow money during the time. So maybe that just pushes things off a little bit. But once everything kind of calms down in Europe, again, I think these things are going to get going. I think that was some other news. Let's go ahead and just check that out real quick. Nokia sought to play down risks of an investigation is compliance issues. It's Alcatel Lucent business after Shell's Friday. The Finnish network equipment maker flagged the issue. Its annual report was replaced, released on Thursday. And of course, they're saying it'll have no material impact. I think that that story is really kind of overshadowing the real story, which is the bonds in Germany. And if anything in giant infrastructure spending, probably going to be on hold for a while in Europe until a lot of this stuff gets settled out. And why we saw, I think, the big drop here in the United States. Now, it's not uncommon after everything takes a big nosedive down to say, OK, I maybe not want to be in Europe, but at least the United States might be a little better. So we might see, like right now, now that we've kind of gotten past the worst of the market, that people try to come back here in the US market to hide from the European markets over the weekend. The real question for me now is when we look at the Asian markets opening up on Sunday night, what do they tell us? And I think that's going to be a big thing to look at. I mean, they weren't horrible in Asia Pacific, but may in Europe, FTSE down 2%, Dax down 1.6%, CAC down 2%, AEX 1.2%, stocks down 1.2%. So I'm going to chalk this up to a lot of fear in Europe overnight, especially with what happened in Germany. For those people that have never been to Germany, I'm going to tell you something that most people will not tell you. They won World War II. Not at the moment. They didn't win the battles all the way up until the armistice, but they did win the war. They own 80% of everything in Western Europe. I'm going to say that again. The Germans own 80% of everything in Western Europe. They own everything. Everything. And most people, you hear it? It just doesn't process. It doesn't work through that. They own 80% of everything. When the war ended, they decided to go all hog out on capitalism. And many of the other states decided to go all hog into socialism. And they had great growth. Not so lucky in France and England. They had some. But we'll talk more about this when I return. Path of Lease Resistance is David White's daily trading newsletter. And if you're looking for active trading ideas, then now is a perfect time for a 30-day free trial to this powerful daily trading advisory service. David uses his years of trading experience to offer his subscribers his trading ideas each morning in his Path of Lease Resistance newsletter. Using a combination of equity trades along with options, David keeps his subscribers up to date with all pertinent market information with intraday afternoon updates when warranted. Don't miss out on this great chance to get a 30-day free trial to David's daily newsletter, the Path of Lease Resistance, with no obligation to pay anything. David has been delivering solid recommendations for his subscribers recently, and if you'd like to see the type of newsletter he delivers every morning, then visit the front page of TFNN, and you'll find the Path of Lease Resistance under Trading Newsletters. For all the details, and to start your 30-day free trial today, log on to TFNN.com now. Hi, folks. Tom O'Brien here. If you'd like to get my daily newsletter and market insights, then now is a great time to sign up for a 30-day free trial. Every morning by 9.30, I send out my morning letter to subscribers with market commentary on a variety of markets, currencies, and commodities to keep investors up-to-date on the day's trading action. Included in Market Insights are specific buy and sell recommendations for stocks, ETFs, and even options, with stops and price targets included for every trade in my newsletter. If you'd like to try my newsletter risk-free for 30 days, then head over to the front page of TFNN, and you'll find Market Insights under Trading Newsletters. I use my years of trading experience to bisect and dissect the market every morning and give my subscribers the most important information they need to know for the day ahead. I even issue afternoon updates for my subscribers whenever warranted with important market action. I'm always scouring the market for the next great trading opportunity. This is a 30-day free trial to my daily newsletter Market Insights today by visiting the front page of TFNN.com. Well, go get them, folks! 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 Gartly's, ABC's, Butterflies, and much more. The Art of Timing the Trade Charts is designed to help you when scouring the markets for stocks just beginning to form the trading patterns that many investors spend days, weeks, or even months searching to find. And right now, we're offering licenses available at only $79 a month. We are so confident that you're going to love this new charting software that will even give you a 30-day unconditional money-back guarantee. Don't miss out on this incredible new piece of software. Get your copy of The Art of Timing the Trade Charts today by visiting tfnn.com. This segment is brought to you by Think or Swim. For more information, just click the Think or Swim banner on the front page of tfnn.com. And we're back. I want to finish up the question on Erickson. And that's what I was going to say is when you compare Nokia and Erickson, was it the story that was out on Nokia? Or was it just general market conditions? And I suspect it's all those bond issues that now where the bonds blew up. So you really have to kind of look at it. Now, there was some warning out here. Erickson had two doggies out here over the last couple of days. And the other thing is you never really got that sign of strength when you busted into that high nines on Erickson either. You had a nice move up. So, again, I think you might just we're trying to time the entry into the 5G way which is going to be long. And that's always got a lot of starts and stops and hiccups. And I think this is just one. And I think we're probably going to see a little bit of that in the United States, too. But we're getting awful close. And the question is what is your time, Verizon? I don't think that in maybe three weeks or four weeks that that may be the end of all these hiccups starting for 5G in Erickson and Nokia and some of the others, too. There's some legal issues with patents that need to be solved. Those rulings probably come in the first part of April and that's, I think, when we want to start looking at these. Not that I'm saying you buy them yet. When you're down, the volume's not the end of the world. But it is a nice setup. Okay, you can give me call it 877-927-6648. You can email me at pathtfnn.com and, of course, you can always put a message in the den. And where's my email here? Okay. Okay, now we did ALB yesterday. And the other one is SQM. I couldn't remember yesterday when Erick emailed about it. Again, rare earths are not rare. They're just not in high concentrations. And, of course, the highest concentrations for the most part are in Chile. They don't have the environmental laws that we have here which is always kind of an interesting play. And the reason why I think that's important is a lot of people think, well, you know, they can just shut it off. Well, we'd probably make it and it'd probably come out more expensive. But as long as the US continues to divert its pollution to other countries and don't believe that's anything other than we're doing now, 90% of all pollution in the air comes from China. And as long as it doesn't come here, everybody's kind of virtue signaling that everything's wonderful and great. But that's all it is. It's virtue signaling. We don't have any pollution here. But guess what? I'm paying to have it done on the opposite side of the world. And no one says, well, I'm not going to buy that or the other from China because they pollute like mad. It's on the opposite side of the world and we don't care. NIMBY, not in my backyard, makes most people feel pretty good about themselves. So chili and not a lot of stuff happening down there. If you're going to get a bunch of jobs and money coming in for lithium, a good deal. But none of these charts look that good. I mean, when you look at SQM too, that February 25th high down to the March 8th low, huge, huge volume out here so you know you're going to get retested. You didn't get, you had a light volume test that March 8th. You're kind of going to get back into it. But look at the volume today. So you know that maybe somewhere in this $36 range, if you get it on light volume and light energy on the way back down, it's probably going to be support for some time to come. You got 110 new cars coming in the next what? 14 months now? I used to say 18 months, but I think it's the next 14 months. And man, am I looking at that new Porsche EV car? Talk about sex on a stick. Man, that is one of the absolutely killer looking cars. Everybody always kind of tells me that Tesla's are the best looking cars. You look at that Porsche and you don't tell me that that is absolutely one of the best looking sports cars you've ever seen in your life. Anyway, we shall move on. Okay, let's check other emails here. We've got a few. Any problem with Microsoft today? MSFT. Saw it was down a couple of bucks. Now you broke through and again like a lot of these stocks you just never had the energy you had back on in this case October 3rd. You got up there with about 71 million shares. You got into it today yesterday with 29 million shares. So again we're banging at these highs banging, banging away. And the question is whether or not you can go back just a little further in the market and do it now Microsoft. I'm not a fan of going short. Not a fan of short Apple or Microsoft. If you've got a lot of cash and you can run shorts out even though it's topped off I'd much rather buy the retrace than try to be short up here at these levels. We've gone through the last couple of days of these stocks that have had monster increases in their short sale numbers and guess what these stocks normally go down when the shorts give up and you can actually see it here in my charts today. You're still getting fairly in fact yesterday a lot of shorts in Apple continuing they just won't give up reminds me of a joke which I cannot tell but it ends up with I guess you really are not coming around here to hunt it's a hunter joke but anybody actually knows that what's take a look at Apple again as I bounce around okay got a sneeze and I'm back from the sneezing it's a little I've got the doors open today because it's crisp and cool and I like that part of it I don't like the part that I think is going to happen which we're going to go from kind of being cool to blistering hot we won't have that nice spring that we normally have 75 or 80 every day we've now gotten into almost April now and we've had a couple of days that are warm but most of them today like low 60s and stuff seems awful cool what else do we have yes I run on sunshine I was always depressed when I lived up north and it was gray and cloudy all winter I used to go to the suntan booth every day and just get a little brightness made me feel a lot better down here in Florida it's been bright and been horrible it's just been cool so I haven't been sitting out next to the pool which always also makes me feel better okay what else do we have and of course I've been paying to eat the pool which is a pleasant 86 degrees but as soon as you get out it's cold I've gotten rather set in my ways anyway we're going to go to the break so when we come back we'll look at a few more but yeah 23% short position in a company that's got $250 billion as soon as you're short what are they going to do they're going to run you out they got their cash the investment is anywhere from 30,000 to 75,000 the interest paid is 7% yearly paid on a monthly basis according to bankrate.com the best rate for a four-year CD in the country as of February 20th is 3.1% a $50,000 investment at a normal four-year CD rate of 3.1% would give you income of $1,550 per year or $6,200 over the four-year period that same $50,000 investment in a year would give you $3,500 per year or $14,000 over the four years what should you prefer $6,200 or $14,000 of interest on your investment if you'd like more information about the target first mortgage program you can call me at 877-518-9190 that's 877-518-9190 if you haven't checked out the newsletters page of TFNN.com what are you waiting for all of the TFNN newsletters are informative up-to-date, affordable for every trader looking to gain a competitive informational edge in today's markets TFNN newsletters cover every aspect of the markets to offer you the very latest in market news plus new subscribers get to test drive our newsletters risk-free for 30 days from all aspects of the markets including stocks, bonds, metals commodities and tech there's a newsletter to fit your needs exclusively from TFNN stay informed each day you trade and get the competitive edge that will help you stay ahead of the game visit our newsletters page by going to TFNN.com and click the newsletters button near the top of the page TFNN.com educating investors will the S&P 500 continue to climb for bold trades on US large cap stocks in either direction trade SPXL TPUU or SPXS directions daily S&P 500 bull and bear leveraged ETFs direction leveraged ETFs an investor should carefully consider a funds investment objective risks charges and expenses before investing a funds prospectus and summary prospectus contain this and other information about direction shares to obtain a funds prospectus and summary prospectus call 866-476-7523 or visit directioninvestments.com a funds prospectus and summary prospectus should be read carefully before investing an investment in the funds is subject to risk including the possible loss of principal the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor for side fund services LLC don't forget you can listen to TFNN live on your mobile device 24 hours per day go to TFNN.com then hit watch Tiger TV that's TFNN.com then hit watch Tiger TV for the latest market information and we are back okay we were talking about apple and it's big short numbers it's like putting a sign on your back saying kick me because all they have to do is go back and buy shares and run all the shorts again we talked about it yesterday and how I didn't like the risk reward going into earnings because they didn't have any shorts if it came down it was going to come down fairly hard could have been worse but you're back down to the 82s probably 82s right now in Nike but again one of those stocks that went up like a lot of these things above the September 21st high that was 8582 14 million shares you got about 10.5 million shares energy wasn't just like everything wasn't great off these last major loads back to December 24th but it was just no energy at the highs and almost everything is pulling back into that trading range and F oh what else do we want to look at TIFF if I actually type it correctly TIFF for Tiffany's actually look like it was going to open about three or four percent lower actually went higher and filled the gap today you're doing that on what can we see here we came down with 2.3 million shares on that's October 28th November 28th you got about 5 million shares into this so again light energy on the way up from December 24th and other problems so whatever you look at here are a couple other ones that were kind of beat up pre-market and maybe we'll get to those later so let's look at some of the other stocks that actually matter because of course they're much bigger parts of the market always interesting keep a look at Boeing I haven't heard a company so viciously attack in a long time but there's still no volume this did gap down on the FBI coming after them or at least that's the report you know this gapped up on big earnings 12.7 million shares on the 30th of January and of course of that 12.7 million shares today you got about seven and a half can it still go to lower? It could but man you're going to have to have some kind of dynamite in the market my guess would be if you were bearish on this what you would really love to see is this come up to about 405 on no volume and then that sets up the ABC on the way back down I don't suspect right now that this thing can break through with the incredible low volume unless the market to take a fairly massive dive as I said today I mean we got down to 2804 on the S&P cash it made me think that they were setting us up to go long next week they bring the market down this morning they pump it up make everybody think everything's okay and then get the IPOs out next week kind of the best scenario that I can think of right now and again we've got a lot of volume they got a lot of people probably short I'll see those numbers tonight we'll talk about a Monday but I'm just speculating at the moment that really what we're seeing is a lot of that now again what happens Joe Granville probably one of the worst craters of all time was right once but he had some sayings that weren't all that bad even like he was you know never had a good idea one of them was the idea that everybody runs to the back into Titanic as it sinks and that's what I'm saying today maybe even through next week we could see money coming out of Europe and pouring into the United States thinking that it's the back into the Titanic we might as well write it until it sinks but we got to get to the back end of whatever's and that may be it so maybe we see the push into fund buying into those IPOs and that finally rings the bell on this market but we really need to look at the volume 2818 on the SMP cash which is about 1.3% down we didn't really do any real damage to the market if we close at these levels so a lot of people probably gonna get a little nervous but it's not the end of the world just yet I think if we are gonna get the end of the world it goes on into next week and frankly all it's gonna take is a couple of days of good news if we got the shorts that they put in today and we'll just squeeze them out to get us up to maybe 2900 or close enough to the previous highs and if the volume fails there that's it if it doesn't fail there the sky's the limit for the rest of the year in the SMP 500 that's kinda it I think a lot of people don't know I lived in the Midwest in 1979, 8081 right after I got out of school and there were three of the worst winners they ever had it was one week that it never got above minus 10 and most of the time it was minus 20 and it did that like three winners in a row and I'd be down in the basement with a sun lamp on drinking Hawaiian punch listening to the Jimmy Buffett praying for the day that it wasn't miserably biting cold that made your eyeballs freeze and I always, I said then if I can ever do it I'm gonna get back to what I grew up with in Hawaii which is warm weather Hawaii's a little too far out not much happening out there great place to raise a kid if you like doing stuff not a lot happening there anyway, 2819 wouldn't be surprised if we get another 10 points higher before the end of the day in the SMP cash and maybe even a tad more but they've got I think what they want which is okay all the people that were short we've kind of given them a taste we're gonna make it look like the thing has rejected the lows and we're gonna push for all we're worth for the rest of next week but just a thought what else do we have out here that we want to take a quick look at coming in what's going on with GLD one of the things that goes on with GLD that I learned early on from Jim Sinclair was the first couple of weeks that a market starts to head down everybody thinks that the thing to do is to run into gold now his theory and it seems to have held in all the last 20 years I've been trading has been the first couple of weeks they sell everything everybody's scared people want to run into cash and that includes gold now it holds up much better than everything else and it may not even retrace but it takes about two weeks before people come back and start saying that's it so we might have some sideways here in gold you got a doji here today but generally the thing to do is look at that and go okay if we really start selling off with say the end of next week when do people drive drive into gold in the kind of way they did in 2001 we'll be back in a minute we'll be back we'll be back go to newsletter that identifies monitors and profits on mostly little known cutting edge companies with great long term prospects David's experience is as an inventor of Emmy winning animation products for TV and Hollywood that propelled a company public match that with 14 years as a full time trader and he's uniquely qualified to guide you through the light speed world of ever evolving high tech if you're ready to ride the next big technology bull market for less than $40 per month log on to nn.com and get your two week free trial to the technology insider get in on the ground floor of the next big thing today since 1984 Basil Chapman has been using the Chapman wave methodology to advise traders of his expert market opinion well originally hand drawing charts from the late 1970s into the 1980s Basil noticed that prices under most circumstances virtually always had a certain number of legs to the upside before declining sharply later Basil found the computer software which included the standard market technical indicators enhance the degree of accuracy in calling price turns as well as market trend calls thus was born the Chapman wave sequence using the Chapman wave methodology along with other indicators Basil Chapman advises his subscribers of his expert market opinion each market day with his opening call newsletter right now you can get a two week free trial to the opening call Basil's daily trading by visiting the front page of TFNN.com cancel at any time during that trial and pay absolutely nothing get your two week free trial to Basil's newsletter the opening call today by visiting TFNN.com catch Tom O'Brien professional trader and educator founder of TFNN also a special guest on CNBC Tom will bisect and dissect the markets the Tom O'Brien show next on TFNN and we're off 33 and a half points 28 28 21 I wouldn't be surprised and we get 27 25 27 30 before the end of the day we're going to have a lot of dip buyers come back in here and probably not a bad idea going into the IPOs now you know if those IPOs fail it can't get out the door just look for the destruction that follows that but I think they can do it I heard Tom O'Brien talking about how it's structured I'll try to look at that before the Tech Insider segment at 3 30 but you know if you make the amount of shares available small enough you're going to find a handful of people that will buy stock at anything and then of course as we talked yesterday with Caesars Palace you can spend the next 10 years getting rid of the stock just add a little bit more each quarter kind of keep it going in the range and get it out the door I just don't understand even thinking about buying a company that's already $40 billion because there's just not that much more left to make I mean go to $80 billion maybe 100% I want to buy a company that you know goes from 10 to 1000 possibly or 10 to 100 at least 10 times right 100% risk reward long term probably not that good if that's all you ever think you're going to get out of it so let's take one last look here dollar pot back into the 96 area today it's up 15 cents 96 to 14 and of course the rest is the volume which has been good 6 billion shares so I don't know maybe this is something new Friday volume we had it with options expiration last week probably not going to quite get there but it's going to be good that tells us something but maybe just not yet maybe we're getting the warnings out here but I didn't get the alarm today that I wanted we'll look at the close to make sure in the meantime sell when you can out when you have to we will see you here Monday same bat channel same bat time