 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 everyone to another exciting addition to the Power Trading Hour. We are humble, lovable, and always happy host. The following takes place between 2 p.m. and 3 p.m. Well, that was unexpected. We're off 18-and-a-half points on the S&P cash, and that has little implications. Again, I'm not going to get too wigged out or excited, or been out of shape Monday and Tuesday, or always options roll-over days. And you shouldn't hang it too much on it. Tomorrow is far more important than today. If we bounce right back up and that's it, well, that's telling you something. But you probably don't have to be too smart to think that maybe a handful of people or kind of get at a dodge before the weekend and the G20 meeting between Xi and President Trump. So it's just not... Let me put it this way. I don't think there was any kind of big thought that we were going to have some kind of massive rally before the end of the week. We did have Mr. Powell come out and do his little dance. And do his little dance on the catwalk. But he said, well, don't get too excited about rate cuts. And we won't bend to political pressure. And, of course, there was... I think a bullet came out and also said that don't expect any more than a quarter percent rate cut coming into the next meeting. And that kind of just put a little bit. But, you know, in the scheme of things, we're up fairly close to the highs. Does the first question is always going to be, did this pullback happen on extensively heavier volume? And the answer so far is no. We are just cresting four billion shares on the CBOE's consolidated tape. If you're new to the show, go ahead and email me at path at tfnn.com. And I'll be glad to send you a link to it, but it's the volume for all stocks, no matter where they're traded, at least in the United States. And it breaks them down into every single way that you think that you would want to, including dollar-wise. So, you know, is there anything really to jump up and down about? No. Am I going to get excited? No. And to paraphrase, Sigmund Freud, who generally I call Sigmund fraud, but he says sometimes it's a cigar, it's just a cigar, and sometimes this is just noise and not a lot of signal. To me, anything that happened so far yesterday and today pales in comparison on what's going to happen on the news this weekend. So I'm not in a big furor to get in front of a lot of stuff going on in the market, but I have a feeling a lot of other people are probably thinking today, well, maybe we'll exit stage left. We'll see what happens next Monday. And again, a big historical president is markets really moving after big three-day or four-day weekends like we have coming up for the 4th of July, where volume is going to be very light. What happens after the 4th of July is 10 times, I suspect, more important than what we see today. A lot of people look at everything that the market does and start thinking and imagining and blowing it out of proportion mostly because the things that really matter, matter for a long time, but the things that happen very quickly, we weigh way too important on the daily basis. And I always like what Nassim Tlaib said. He reads the paper on a park bench on Saturday afternoon to reflect and see how the market actually reacted to the news and not trying to anticipate it. But other than that, for the most part, everybody puts way, way too much emphasis on what happens exactly now and probably not looking for the trend that has developed. Thanks for the emails. Of course, you can email me at path at tfnn.com. What else? Okay. What do we got here? We'll answer that question during the break. We got an email here that probably not going to answer on the air, although it is a good question. But that's it. Not a lot of volume. You would think with the dollar movement, we probably would have a little bit more volume over the last few days, but really not that exciting. 9562 is the last tick that I see on the dollar index. So we continue to look at a great deal of these indicators and everybody's getting freaked out about them. I don't think they're going to matter that much until we actually see what's going to happen at the trade deal. I also was listening to some folks that looked at historical movements in the market based on tariffs. And for the most part, if the economy is humming along, tariffs don't seem to matter. I know that flies in the conventional face of a lot of folks because if you're in a recession and you add tariffs, generally that seems fairly bad. But in the fifties, we had fairly significant tariffs and the economy boomed post-war. So if you're doing good, tariffs seem to make it better. And if you're doing bad, tariffs seem to make it worse. At least historically, there was like three or four times in the nation's history that we've looked at it and it seems like that's what it is. If things are being bad, tariffs make it worse. If things are going good, sometimes they make them better. So when everybody's predicting doom in the end of the world, I tend to listen to Oddball from the historically accurate movie, 1970, Kelly's Heroes, who says enough with the negative waves. Hadn't developed so far. What it does, I'll change my opinion. But right now, just too many negative waves. But I think that there's a reason for them. And I think maybe the more people wish for the end of the world, maybe the less likely it is to develop. Let's do a little history. Where did it go? I'm sure I did it. No, we don't have quite the time that I need. When we come back, we'll do the historical segment. But again, as we look out here today, off 17 and a half points now, 29, 27, and half. And what else? Off 121 on the Dow, Nasdaq's off 83, Russell's flat. We'll be back in a minute. TfNN has put together the best lineup of live content for traders by traders every market day, featuring some of the most knowledgeable and respected minds in the business. TfNN broadcasts five days a week live from 9 a.m. until 5 p.m. Eastern time. We have live programming every market day during market hours. Every morning, Larry Pezzavento kicks off the trading day live at 9 a.m. and breaks down the opening bell with Trade What You See. 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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. 7-3-7-6-1-8. And you can email me at path at TFNN.com, and of course you can always put a message in the den and call me at 877-927-6648. Oh, did we already play history? History repeat? We'll do it again. I'd love it. Surely bassy for those people who don't know, but from the propeller heads, late 1990s? What a great song. You ought to check that out. The propeller heads. Oh, history. We got to get to that. On this day in 1957, a giant explosion happened on the Mayaki plant. This was in the Ural Mountains of Russia and releasing more radioactive contamination than Chernobyl. When people say that Chernobyl is the most radioactive place on Earth, they're wrong. Fukushima, about a tenth of Chernobyl, and Chernobyl, about a 40th of this plant. And what happened on this day? Well, in a hurry to make uranium and enrich uranium and some other stuff, this small town which did not even have a name, they called it City 40, which is all it could. You couldn't go in or out of it. If you went to work for whatever happened in there, you never left it. In fact, the first person that was able to leave was about 1989 after the fall of Russia. Somebody, a handful of people got out, of course, in the early 90s after the fall of the Soviet Union. Some of the documents came to light. We also are told that Chernobyl was the worst loss of life for cancer. That's probably pails by City 40. They, well, they started making uranium in 1948 or 1947 in this city and threw it together fairly quickly. Didn't think about what they should do with the nuclear waste. They just started putting it in cans and big tanks and floating it around in water. They weren't very interested in actually keeping that water flowing around it to keep it cool. On a very hot day in July, one of these tanks eruptured. The resulting explosion of other tanks with it was about the equivalent of 100 tons of TNT. A rather large explosion shot radioactive waste in about 10 miles all the way around it to a lesser extent, about 100 miles all around it. But what most people don't tell you is they want you to be afraid of uranium and plutonium, which are both pretty nasty things. But they decay fairly slowly. Caesium and iodine and a bunch of other waste products of nuclear reactions that are the stuff. Because, you know, if it's going to decay and it's got a half-life of 200,000 years, that means it's going to be pretty slow at decaying and put out a lot of radiation. A lot of the iodine and caesium and calcium, some of those things decay in 15 days. So they're massively radioactive for a very, very short amount of time. There are longer things that take longer. But, well, they just kind of left it in this lake, dumped the rest of the stuff in this lake for a while. And it was all good and well until they got a very big dry spell, and the lake started to dry up. In fact, it dried up all the way to where it was just a big hole in the ground where a lake used to be. And all the soil at the bottom of the lake dried out, they had a freak dust storm. And once again, in 1967, it radiated another 50,000 people with very high levels of radiation. But when everybody tells you that Fukushima's bad and Chernobyl was bad, it was a drop in the bucket of what happened today in 1957. And, of course, everybody had to learn kind of the hard way. But in Russia, no one learns because everything was swept under the rug. People that knew about it were shot or put in gulags. And only very high level documents actually still exist for one of the worst days for nuclear energy and nuclear bombs on this day in 1957. What else is going on? That's why you always shouldn't remember or think about history, because it's not always what they tell you. And see what else we've got here. Okay. Oh, clicked on the wrong button here. Let me try to get that back up. There we go. First question out of the gate today is about Google. And, well, you've got what I think is an ABC on the way down. You didn't have much of a reaction. For those folks that do not know and probably don't watch YouTube a lot or some of the content creators, they're fairly mad. But not only that, you've got the woman that's run Google, or excuse me, run YouTube for about 20 years, acting very much in the way of the Soviets. Getting rid of anybody that has a dissenting opinion for anything that they like. They've become very, very horrible, both sensors and squashing freedom of speech. I call them the child molesters of pre speech. They've become rather draconian. A bunch of inside video has come to pass lately about how they're going to try to manipulate the 2020 elections. And, yeah, I think some people, they are just like people that prey on adults that prey on children. That is they somehow could excuse all the horrible things that other folks did like the Nazis and the propaganda of those folks. But for a company that was founded on and motto was don't be evil. They've become incredibly evil. And I suspect their day of reckoning is coming. There is some new companies that are coming out to compete with them. And they go by the name of things like Liberty. And freedom of speech isn't about speech that you like, but it's defending speech you dislike. And that tells you all the difference in the world. And then almost ironic, the place that was the birth of the free speech movement of the 60s is actually now that it's got some power acting exactly like the people they decried in the 60s. But it is interesting. Anyway, for Google, I suspect they could be doing very badly. One of the reasons is a lot of the content creators are looking to go anywhere else as Google tries to screw them over. Of course, a lot of these folks have made their living and decided to either have Patreon subscribers, i.e. people that help them out to fund and basically make a living out of making YouTube channels. Another thing is you can rely on the advertising that Google gives. But it seems rather willy or nilly on the way that their algorithms go and push people to different things. But most of the content, we're out. And that's it for today's video. I hope you enjoyed it. I'll see you in the next video. Next big run, pass you by. Sign up today. 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. Since 1984, Basil Chapman has been using the Chapman Wave methodology to advise traders of his expert market opinion. While originally hand drawing charts from the late 1970s into the 1980s, Basil noticed that prices under most circumstances virtually always had a certain number of legs to the upside before declining sharply. Later Basil found that computer software which included the standard market technical indicators enhanced the degree of accuracy 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 newsletter by visiting the front page of tfnn.com. Cancel at any time during that trial and pay absolutely nothing. Get your two week free trial to Basil's newsletter the opening call today by visiting tfnn.com. This segment is brought to you by Think or Swim. For more information just click the Think or Swim banner on the front page of tfnn.com. Coming back looking at the technical aspects of Google in the charts. You gapped off with huge volume on the April 29th eye and of course the next day was April 30th. You came down on about 6.7 million shares. But I suspect right now that problems in especially in YouTube and search are starting to add up for Google especially in Europe. And they're doing anything they can to get money including screw over their content providers. That actually drive people to the websites and favor of corporate clients like the existing networks. And a lot of people have been testing the algorithms and putting stuff in. So there's a lot. There is more than just me blowing about it on my show. But if you set up the technical aspect of it we've done basically a 37% retrace back up to 1126. And at best I think you want to see a test of 1027 at worst this comes back to 853. I don't know if it does it this summer on that and breaks the 1027. But I do suspect that even if this thing goes sideways for a while the 856 projection is probably not very far off on Google. The reason I suspect it like I said is we're already starting to see third party companies come in. And apply to not only free speech political activists and putting their channels on it on third party stuff. But a lot of these producers that are getting screwed over by Google that basically Google says you got nowhere to go so we can do anything we want with you. I think is problematic. A lot of these guys are paid by Patreon. And for that part it doesn't matter where they go as long as they get hosted and don't really have to pay anything for it. So other people can sell ads for their content. And I think this is you got to think that YouTube is especially the link from YouTube back to Google search where they can sell a lot of this search data and other stuff is you know it's a sum of the parts. So I don't think if you look at YouTube being a 25% of the income it may be actually more responsible for maybe something like 40% than what's out there. So yeah the somebody posted in the den the lady that runs YouTube is basically been there for 20 years and the head of YouTube since Google bought it really. But she was in a conference about two weeks ago and a lot of people left scratching their head when she was asked a bunch of tough questions. She kind of gave some answers that made everybody think there may be a great deal of problems ahead. Now that we've made the I think it happened right around this low on June 3rd. But again like I said I don't know if it'll bust a thousand bucks on this run but I think it best to go sideways for a while and then they continue to run into antitrust issues. And of course there's already one senator that is talking about revoking one of the original laws that gave almost all these folks on the Internet free reign to do anything without being sued. And I think there's probably enough common cause around that they may lose their their ability to do that. And that would really hurt Google and the fact that they probably would face lawsuits on a daily basis. But they don't seem to be getting the message either on the political front or on the business front from their own providers. A lot of those providers could leave and cause a huge problem for Google. Other things going on in the news today. Microsoft the leak for their new product came out today. They're off about four bucks or so from the high yesterday. They just went back into this gap higher that had 26 million shares. You're back into it with about 21 million shares. Support probably should come in about 132. The news for Microsoft today is that the fold fold up or fold out laptop that we've been talking about with Tom O'Brien on Fridays pretty much as late. The internal name is Centaur. Of course the upper body of a man in the lower body of a horse kind of giving you an idea of what this thing is going to do. And of course it does two things. It is a tablet but it is a nine by nine tablet that folds out to an 18 by nine display and a keyboard that goes with it that is as wide. So you can fold that up. But both of them in your purse supposed to be maybe a pound and a half. Some of the pictures were fairly interesting. You always have to worry about whether or not those things were made up by somebody with Photoshop. But no real discussion from Microsoft saying that that isn't true. It will run a version of Windows that is very light. Not for heavy lifting kind of things. Word processing answering the emails. But it will also run Android apps also which is kind of interesting. And I don't know how far that is going to go but a lot of these products when they come out don't have a real strong use case. If they can find the real strong use case that is where these products become rather large. But that is about it. Give me a call at 877-927-6648. Email me at path at tfnn.com. And of course you can always put a message in the den. Let's look at some of the stuff going on. Again, a lot of these stocks did kind of come off. We still haven't really broken a downtrend in these. Some of the stocks that came and I was looking at this morning were actually on enterprises. This one did kind of roll over. Very light volume as it pierced the high yesterday to $74.93. Symbol on this one is AAXN. Not a lot of volume. Not a well-known stock but did seem to pierce those highs. Wow, we fell like a brick there. I'm showing 27 on the S&P cash. Don't blink if you don't got it. Okay, Clairs Therapeutics. Another one testing its recent lows. And we're kind of doing that yesterday. About 500,000 shares back on the sixth. Yesterday, 344,000 shares. Just 216,000 shares today. From what I'm looking at, a lot of those stocks that were kind of near the lows that had bounced are doing that kind of same thing. American Eagle Outfitters did kind of bounce back into the trading range but didn't do so on a lot of volume. It kind of rolled back down. Any close below 17 bucks still shows problematic here at 1716. But not a lot of volume. Two million shares compared to the 8.7 million share low back on February 24th. Excuse me, December 24th. David White's newsletter, The Technology Insider is focused like a laser on finding the next big things in technology. 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This is based on Amazon saying that they're getting into that business and may even do some kind of brick and mortar thing like, what is it, like Whole Foods. So Amazon kind of weird deciding they want to get back in at least a little brick and mortar. But I have to tell you, I go by a couple of places that are fairly close to few supply places. And for people thinking that no one goes to brick and mortar, it may want to be one of the few stores where these women are always piling in and out. It's next to a restaurant I like and I'll be in there and I mean a constant stream of folks. So apparently it's not Ulta. There's also another one that I remember. But that was one of them. I'm trying to remember the other one. I don't think of it here in a minute. But of course, all you've got to do is hear Amazon's coming for you and you run for the hills. That was yesterday's down today, not so much happening in it. But it is interesting to be in that space with the big guys gunning for you. Amazon. Even them are down today. The Amazon azonians back to support or minor support from the 17th. You were up on that day on 2.6 million shares. Today you got 2.1 million shares already. The support probably looks like it comes in a lot better on the close of the day of the 10th. That is at 1860 and we're around 1877. So wouldn't be surprised to come back in there and find all these candles from the 10th, 11, 12, 13th, 14th act as at least some support for Amazon. Although I don't see a great deal happening other than that. But that's going to, okay, Sally is the other one. S-A-L-L. I think this is the one that's next to the place that I eat at. S-B-H. Now again, this one got hurt a great deal worse. Not exactly sure why. Maybe because Ultra has been doing so well. And already Sally, kind of third man, third wheel in the business already, much less Amazon getting involved in it. Down on 6.2 million shares yesterday where this blew apart and went through the previous slow of August 2nd of 2018. Let's look back a little farther. I mean, you kind of blew through everything. This is back to November 16th, 2017. We'll go back. Is there anything else? I mean, this thing was a $33 stock back in 2016, March 30th of 2016. But that looks fairly significant other than you didn't have the volume, maybe. Let's zoom in here a little bit more. Man, 6.2 million shares. So that is more volume than the 14.05 November 16th low of 2017 for Sally Beauty 2. So those stocks kind of look to be on the outs. And I don't see a lot of reason to probably short a $16 stock, but very interesting. Other things going on as we get close to the high of July 9th, 2018 in First Majestic Silver. Watching this, that was about 3 million shares. Yesterday as you get close, you had almost 7 million shares. Today you went a little higher, 8.13 and did a little reversal. But not a sign there. I thought maybe that would get up to that 8.48 today and give us a little bit of a signal. Okay, let's get a little closer time frame. Other stocks that I think may be giving us a heads up in the short term future is Ameritrade Financial 48.71 on March 25th. That came in with 6 million shares. I retested that yesterday with just 2.9 million shares. Today you pierced that back into a previous gap so far about 2 million shares. But if you break that, 45.70 is the next big low in Ameritrade. Let's go back a little bit farther. 45.70 is the December 26th, 2018 low. But again, energy is a great on the way down. It's good, but it's no different than the energy on the way up from that December 26th low. So you may have just a giant trading range of about 45 bucks to 57 bucks going on in that. ATHM, which is Auto Home. This thing's been bouncing along. I wanted to see if energy came back in at support, which has been around 80 bucks. You certainly have decent volume today of a million dollars. You want to go back, I mean, a million shares. You want to go back into the 1.2 million share low of March 8th and take a look. And the up day of February 22nd of 1.8 million shares. This also looks like it could slip back down to 66.60, which is the January 14th, 2019 low. BHP. Another one on my radar here. Now we're off 25 points on the S&P cash. This one is giving us a signal of some sort today. Three and a half million shares on April 10th this year, $57.25. Yesterday you had 1.45 million shares today, 1.2 million shares so far. But it looks like it did go above that previous high. It looks like it could easily close below that previous high and do so on half the volume, which is generally, like I said, a signal that a blind man could see. Biogen, IDEC, after this thing blown apart, it's going to need a lot of consolidation. But you're back up into the April 5th high at $244.08 that had 3.25 million shares with about 1.5 million shares so far today. So you got to look at that and think, what else is going on here? BLK BlackRock got up to a gap that went up to about, what, $472 and didn't quite even make that. You had a lot of volume going up into that in some big strong days but never ever made it before it turned around. Anheuser-Busch did test its previous high and did do so on higher volume, although it is pulling back today. The energy is about the same on the way up and the way down, which means that you could be in a trading range from about $90 back down to $80. Generally, these stocks do very well if the economy is going south. So if you are bearish, you generally want to look elsewhere. If you're bullish, you might want to look somewhere else also. Beer, wine stocks just don't, alcohol, spirits, just never seem to be a great time to short them. If the economy is good, they don't go down very far. If the economy is bad, they actually go higher most of the time. We'll be back after a minute and we'll close up shop in the last segment of the day. Best of the best when it comes to managing your money, let me teach you to do what most wealth managers tell you can't be done, which is how to time the markets. I'm Steve Rhodes, author of Mastery Probability and for the last 12 months, Timer Digest has been tracking my newsletter signals which have earned me the ranking as their number one market timer in the nation for the S&P 500 for the last 12, 6 and 3 months. Timer Digest also ranks me as the number one market timer for gold as well. The fact is, markets can be timed and I'll teach you the exact set of tools that I use that has transformed me into one of the best at what I do. Sign up for Mastery Probability today by clicking on the newsletter tab on the homepage of TFNN.com and get immediate access to workshops where I take you step by step how to use an extraordinary set of tools as well as provide great market calls too. Sign up today. 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 which stops and price targets included for every trade in my newsletter. If you'd like to try my newsletter at 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 wanted with important market action. I'm always scouring the market for the next great trading opportunity. Sign up for your 30-day free trial to my daily newsletter Market Insights today by visiting the front page of TFNN.com Well, go get them folks. First resistance is David White's daily trading newsletter and if you're looking for active trading ideas then now's a perfect time for a 30-day free trial to this powerful daily trading advisory service. David uses his years of trading experience to offer his subscribers his trading ideas each morning in his path of least resistance newsletter. Using a combination of equity trades along with options David keeps his subscribers up to date with all pertinent market information with intraday afternoon updates when warranted. We miss out on this great chance to get a 30-day free trial to David's daily newsletter the path of least resistance with no obligation to pay anything. David has been delivering solid recommendations for his subscribers recently and if you'd like to see the type of newsletter he delivers every morning then visit the front page of TFNN and you'll find the path of least resistance under trading newsletters. For all the details and to start your 30-day free trial today log on to TFNN.com now. This is 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 as we said Tyson foods kind of interesting candle could I guess could be worse after the bell tonight we've got two stocks that are coming out for earnings and certainly has a lot of people short. Last time I looked this one's one of the most hated stocks in the SMH sector right now. But the last three or four days or less two days short interest has been waning and down about 10% for an average that's normally around 17% over the last month. We've also got some very interesting action going on but you got to you got a ton of about 20 it looks like 25% short if that's right maybe I missed a digit but certainly it is increased in the last reporting period and up about is that right 500,000 shares? 5 million no 5 million shares additional short from the last reporting period we'll get another report probably and maybe today or tomorrow that will drop on short interest. So look here after the show but of course got to keep an eye on that one that will move the SMHs I would not be surprised to a lot of people trying to get out the door before that one. The other one that's actually making probably a little bit of action going on after the hours is Federal Express. We talked about Amazon getting their own Air Force and drone facility to launch another 21 planes coming on in the next couple of years that will really hurt FedEx and UPS for the freight they cover on the United States. Down today volumes not looking good test of 150-68 is likely on Federal Express. Listen to Tom O'Brien after 4 o'clock for all the play-by-play on earnings. In the meantime sell when you can not when you have to. We'll see you here tomorrow. Same bat channel, same bat time.