 The following is a presentation of TFNN The power trading hour with your host David white Call now toll free at 1-877-927-6648 or internationally at 727-873-7618 now David white Welcome everyone to another excellent edition of the power trading hour At the appointed time The following takes place between 2 p.m. And 3 p.m. So We've got a very light push higher this morning Market was a little worried. I guess which way to go and of course we got some earnings coming out and Well certainly I think we could probably state there isn't a lot of volume at least at this time We're doing about six point seven billion shares and this is back into a fairly high volume Down thrust, but we're pretty much at least in the spies back to the resistance levels Walmart Came out with earnings before the Bells long as well as home depot. You had a gap up. There's some volume your I'm you're almost well 142 Would be the the resistance level that this thing would bounce to and still be in a bear position Did they sandbag a little bit? Yes Where the earnings is good as The price would indicate probably not just as many of these too many short positions Let's take a look at home depot It was weaker after the opens kind of the same thing lots of shorts I think it was down a buck or two pre-market opened up about flat and then And I think people shorted it and they've been covering all day long a little bit better volume we talked yesterday about home depot and Lowe's and the Lowe's around me Having a bunch of Shoplifting Just an overall loss. Is it low just straight low Lowe's company And it was right back up to resistance. Is that the is that the right one Lowe's and Lowe's companies? Guess it's the same one Right up against resistance. So I can you make a lot out of this? No, other than you probably don't want to get short stocks right now That have high short interest and of course we talked a little bit about this. I can't remember about on the show or on the In the den I remember I brought it up in the den at least at the open yesterday morning and that was 40% short interest in bed bath and below But that's why you aren't short 40% Of the float in a stock no matter how horrible it is So the memes are back which is telling you it's rather frothy The Fed won't like this at all But the question is whether they'll do anything about it, but everybody kind of went back to the Wild Wild West again as soon as I think as I did saw that they were more than willing to throw money into the equity market to support it Although they're saying quite the the the different thing and of course will know Thursday night After the bell if they've added more cash, but it you know as far as the volume it doesn't look like There's that much that they're pushing out here. Maybe they'll give it a little bit of help But I suspect they'll now be worried about stocks like bed bath and below and others with irrational exuberance About qt why this is not Okay, I just wanted to make sure you when you were talking about qt We're not talking about a stock. I wanted to check if there is none out there in a question Yeah, yeah, I could I knew well because I don't think it's quantitative tightening I Think that last week when we saw them put almost five billion dollars more into equities That tells you that they there isn't quantitative tightening and My guess is that they did that to get over the week numbers in China The question is whether or not they're gonna do that yet another week And my my thoughts are they just did it to make sure that there was no big implosion in the stock market From last week this week now that we've gotten through it and gone to some levels that they're probably Thinking are a bit lofty. They're probably regretting the decision to throw five billion back Into the equity market So, yeah, you could have a new Fed put out there on the market. I don't think that they're gonna go that far and You know really the dollar some of these other things I think they can do a little bit, but I don't think they can do a whole lot But my belief was or is that they did it just to get past the week China news and Now they're probably regretting it Eight seven seven nine two seven six six four eight and we'll probably come back to some quantitative tightening But I think a lot of people are thinking what do we got? What is it like the 27th the next time they come out for their meeting? Fed meeting calendar to Okay What is the date here? September 20 and 21st, I knew it was kind of late next month So I think oh, you know, we're basically still 30 days away from it I think a lot of people are gonna try to ignore them doing anything But my guess is that they give us at least a half or three quarters yet again Okay Okay, we've got just wanted to make sure that it was what we're talking about Quite a day to take I think it was for a week everybody thinks this game of Things like a bath and below and other and start stretching or it may take a while this back to Where they once belong Okay, usual suspect Quick I know I know okay Do we have that I guess that's not What I want So let's do this to Huh, I am unsure. Oh, did it finally finally quit, huh? Okay, we get back. We'll look at Apple. I'll try to get yeah. Yeah, there it is. 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We're doing about 70 here Energy is not as bad as one would think at Apple. I think they're highly optimistic I don't you know less someone unless they've let it leak and Not let anybody else know and everybody else has been looking about a new phone that does something great I'm not exactly sure why everybody's piling in this. Maybe they think that Their streaming services gonna bring them a bunch of cash, but I don't think that moves the needle either With 50% of all revenue Coming from the iPhone and 80% of all profits coming from the iPhone. I'm not exactly sure What's going on here, I just don't find that many people saying they need a new iPhone as of late Most everybody's just kind of happy where they are Okay Yeah, it's in the old saying someone brought up the end the old saying is that you never get fired on Wall Street for buying IBM I think that's kind of what Apple is now Micron You know, you had a big bounce out here. You got no volume This is just like the rest of the market, but this is kind of what you want to worry about and that is any closed now back below a Trend line After so many days above it a couple days below it a couple days above it any move back below it generally is fairly quick and sharp Generally, you don't want to make bets on this until it actually goes through But generally if you start seeing a big candle to develop as it broke breaks back through some kind of trend line Out there, that's it this one. There just isn't that much money in it But it probably indicative of some of the action in other SMH like stocks You got one day in the SMH is now we're looking for the same thing anything that really breaks this trend line around 242 takes you back down to July 14th and what was the Yeah, let's call it 210 to 11 ish Is where support would be Another question from Joe today about the TLT. I just think we're working our way back down to At least that previous low around What is it the low of the day one 1205 from the 8th of July and Then we need to go back and retest at least the 108 12s So you got kind of a doji here After the gap down you're kind of going sideways a little bit I think we're just going to slowly drift back down to 112 at the moment Maybe 112 and a half somewhere in that area. Maybe 113 you got kind of close to 114 24 Need one more test of that low if you exceed it with volume Which it didn't have a lot So it's probably going to be fairly easy to do then you get back down into the 111 area and then 108 12 which Did have a lot of energy back at that 111 to 109 area So I think you want to see that retested at least the way that this is acted Question about the dollar. Do I see anything changing there? And let me see that is 2 to 2 Okay Got to 106 80 today down to 106 29 It just really looks like a lot of people are very interested in keeping it in this area But you had a false breakout to the downside You kind of popped up here. You really couldn't get through the upside So I think that there's probably a lot of Fed Treasury action trying to keep it around this level Not let it get too hot or too cold, but we shall see what is gold doing right now? Gold's down about seven bucks really was kind of quiet for the whole day out here after the open I didn't see a lot of action Um Yeah, I mean you could see one of the 163 back in the GLD You have a don't have a lot of volume today. Doesn't mean you couldn't get back down just a little further I'm not a big fan of being short gold here, but I think it's I think Um Overall we're probably in what Elliott waves would call the seventh wave of gold and that first wave Started back in 2000. We're probably going through the seventh wave now and generally It's very tough to tell because no one ever knows anything with Elliott wave until you look at the rear mirror But generally the last move out of a big move And it lasts a lot of fairly long time is this last what they call the seventh wave move, which is just Painfully slow but up I Mean it just kind of you know, you may have a little pullback like you have here But it is slightly goes higher and higher and higher and it never really has a lot of Breakouts doesn't do a lot of stuff It just kind of just goes higher and higher and higher and then at the end It gives it all up and it's 1987 all over again and you wait 13 years for the next bull market to come in gold So, you know, I'm I'm watching gold closely to see if it has the characteristics of that kind of seventh wave in a very long-term pattern out here The other but just the way it's acted so far the pullbacks the gaps down We all think a lot about them But if you look back in five years from this you won't even be a blip So we'll have to see but that seventh wave Kind of action is just devastating to people who try to trade in and out of these things And maybe that's why you end up getting that kind of action at the very end of a big long multi-decade move and many things and commodities Gold other stuff like that eight seven seven nine two seven six six four eight Email me at path at tfnn.com. Of course, you can always put a message in the den Okay Yep, Zach. Oh, I think I got that earlier today Okay, take a look at that's in Odebia Did was fairly weak pre-market the snowflake SNO I just came I mean no real big signal out of this if I saw this chart without knowing that they had news Everything changed now It just came down to support and it's holding it We're back in a minute If you want to take advantage of this sector now is the time to subscribe to my gold report The gold report is a comprehensive look at the metal sector as well as the markets that move gold Which is the currency and bond markets new subscribers get a 30-day money back guarantee So you have nothing to lose every Monday morning I published the gold report with coverage of gold silver bonds DXAU HUI GDX as well as more than 30 different mining equities To seep yourself the types of profitable trades that are recommended within the gold report sign up now by visiting tfnn.com Don't miss out on the next great gold trade 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 and technical market analysis And it's not just dry tedious text either Tfnn airs live financial content streamed live on tfnn.com and Tfnn's YouTube channel with Tiger TV live every market day from 8 30 a.m To 4 p.m. Eastern for free each host is an experienced trader and gives their take on the market while taking calls and questions Live from around the world from the moment the market opens until the closing bell sounds Tiger TV has eight different shows with expert Hosts to help you make the right moves with your money watch online at tfnn.com or on tfnn's YouTube channel and become the investor you were born to be tfnn educating investors 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 traders 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 Gartley'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 gonna 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 had a question in the den about total market Volume and dollars more a question about the dollars. I have it in my newsletter every day and it's I'm gonna say it's light about $421 billion for yesterday for 22 A kind of a big day 750 billion maybe 800 billion. I think the highest ever was just under I think 950 billion just under a trillion And the lowest I think was a half day at about 300 billion dollars so there is a wide range For the last nine months before 4th of July were volume and dollar amounts have really kind of started to fall We had probably an average of somewhere around 650 700 billion Dollars traded daily and as you can see yesterday one of the weaker days We've had in a very long time the last big weekday was the Fed Announcement I think that was what it was on the 25th Back here and that was under 400,000 But I think that was because fine at nine-tenths of the day no one traded much of anything But now we're not a lot of juice going on in this market Whether you want to look at it in total dollars or volume We did tip underneath 10 billion shares yesterday about what? 9.6 billion shares on the total volume of the of all the stocks traded I don't think that includes over the counter but over the counter is probably Less than one-hundredth of all the volume Traded on these stocks Probably the biggest need is just how much that the big change has been in the Reach in the Street traders opposed to the retail traders retail traders have not bought this rally whatsoever And they're not chasing it I think that if the retail traders doing much of anything it's shorting these ridiculous stocks like bed bath and below but For the last three four years the average dark pool numbers about 35 percent We've been seeing it press 30 high 38 39s now for About a week and that makes me suspect that that's where that fed money is going and that is that The Fed is gone. Okay. We got some cash for you guys. Here you go. Let's get it round up Now we may have seen that a little bit last month too, but like I said the average over The last year probably about thirty five percent Thirty percent thirty six percent would be a big day now that we're getting three or four percent more each day in the dark pool Numbers it tells you how active they are compared to the rest and how active they are on very quiet markets Where you don't have a great deal of total market dollars either What I like to do is look at the total the total dollar amount and see how it's trending And You know you can look in that and go okay the volume was fairly good but the total dollar Market wasn't didn't have a lot of dollars in there but you had lots of volume and That's probably a good indication that the small caps are very active or maybe the mid gaps Opposed to the giant stocks out there So if you get decent volume, but you don't get a lot of total market dollars good indication that You're probably fairly close to a top worry bottom because the people that are trading the least expensive penny and dollar stocks Aren't there or they are there one way or the other yeah Yeah They added five billion last week and four point six billion actually Okay Okay got a couple Little bit of that what's run it up the flagpole and see who salutes kind of thing See if they can get a market going but hard to tell anyway This is in my newsletter every day, but that's how I use it I want to look and see exactly where the volume and where the energy is going Generally, you know for a single day is it that big a deal? No, there are bigger things out there to to okay Go back up here and look at some of these things Okay That's about right I added a position And I always have to because the newsletter is gonna probably for someone grabs it looks at it probably gonna take at least 15 If not 30 minutes, so I have to kind of put a new position out when I think the market's gonna move the way I want to and I think the team timing is fairly good for that at new positions in the daily newsletter Question about Microsoft, so we'll go and look at that MSFT and Let's see Okay, so we're back up to this gap down for Microsoft that happened on April 11th did so on 35 what's called 35 million shares last three days you had 22 million 18 million today you got about nine 10 million shares, so I don't know if it really Rolls over here hard, but it certainly doesn't have a lot of juice. They could they hold it up a little while in the Options expiration they could this doesn't seem like there's much of there there and certainly They're not running a lot of short positions out of the market on these big guys. It's Tends to be those meme stocks Okay, we look at that question to look at the IBB real quick Okay, you're getting back into this high yesterday You got into it with 50 you got one and a half million shares Okay, and that was in a 2.7 million share high I Mean just when you look at it, I mean you had the one thing which was a lighter volume Lighter volume test of the low you did so was significantly lighter volume in June 16 What you never really did was have any kind of real juice in it on the way up So if you look at this kind of giant W formation, you came down with a whole lot of energy You had an okay bounce you came down on even more energy and some gap downs You finally came here in the IBB at about 4.7 million shares to 3 million I tried to buy it right here It just never really acted real well on the first couple of days, so I bailed on it probably should have held it a little longer But I like that light volume test I didn't like the energy on the way down and that's what kind of spooked me So we're kind of back on the way back up, but you don't have a lot of juice And if you just look at this on the long term the April 5th high Down to the May 12th low compared to the June 16th low to yesterday's high pretty much looking at a Market where the energy and the IBB was off about 20 Well, we call it 22 percent something like that. So not all that exciting We look at it for a turn Sharpening your skills as an investor is like getting better at playing a musical instrument You have to practice sure, but you also need excellent instruction from experts at TFNN You'll get advice and guidance from the authority and technical market analysis And it's not just dry tedious text either TFNN airs live financial content streamed live on TFNN.com and TFNN's YouTube channel with Tiger TV live every market day from 8 30 a.m. To 4 p.m. Eastern for free each host is an experienced trader and gives their take on the market while taking calls and questions live from around the World from the moment the market opens until the closing bell sounds Tiger TV has eight different shows with expert hosts to help You make the right moves with your money watch online at TFNN.com or on TFNN's YouTube channel and become the Investor you were born to be TFNN educating investors The technology around us is changing every day with so much happening. It can seem impossible to keep up with all the information David White's investment newsletter the technology insider is designed to give you all the information you need to understand the technology That shapes today's markets and tomorrow's future David White has made his living staying on the cutting edge of technology His weekly newsletter will give you specific recommendations for value text box as well as entry prices Target prices and stops to set for each trade Dave delivers his weekly newsletters every Friday with updates throughout the week You can get the technology insider at TFNN.com for only $37 and 50 cents Sign up for David's newsletter the technology insider and get an inside look at everything the technology sector has to offer Try it risk-free today with our 30-day money back guarantee TFNN educating investors Are China A shares hot or not? If you trade China A shares now may be time to take a closer look trade CHAU or C-H-A-D Directions daily CSI 300 China A share bull and bear ETFs China A shares in either direction visit direction investments.com today an investor should consider the investment objectives risks Charges and expenses of the direction shares carefully before investing the prospectus and summary prospectus contain this and other information about direction shares To obtain a prospectus or summary prospectus Please contact direction shares at 866-476-7523 The prospectus or summary prospectus should be read carefully before investing an investment in the funds is subject to risk Including the possible loss of principal the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor four-side fund services LLC This program is brought to you by Vista gold traded on the NYSE American and TSX under the symbol VGZ I was busy sitting here reading something So what can you say about that? Anyway, we were looking at the IBB when I was on There so let's go ahead and take a look Uh, we already did the GLD and the TLT Uh, we did uh home depot and Walmart Uh, we did talk about that Okay, let's go back here to the emails and start taking a look And and we're down a little bit. I don't think that that's that big a deal right now, but certainly You're kind of down there S&P up two points At the moment and three points at the moment NASDAQ off 50 Crude oil down 291 gold off six dollars and 40 cents silver off 13 cents As we get back to the market already in progress As we went through a lot of the earnings, uh, yesterday when we're not going to rehash those uh question, uh, about how high can you in G go and, um I remember Shorting the highs and I want to say it was 2006 and I think, uh Then by whatever it is uh billion Cubic feet per whatever it was 16. I want to say 1675 1680 And I shorted it made about two or three bucks on it, which was a lot of money at the time And remember that that was the single biggest trade by any single trader of all time But, uh, you'd have to look at natural gas at 16 And 1675 ish If I remember right and that was the high So you have the ability at least in the past to get there And that was a scant 15 years ago 16 17 years ago. So that was it Uh Okay Okay Go back out here. Look at uh, anyway You You don't have a lot of volume here. Maybe you pull back one more time But, uh, I can't see any reason to say that Uh, you're not going to see natural gas just continue going higher so It's one of those things like I said, you probably just want to If you've got a good position You probably just want to sit on your hands unless the story changes and I don't see that changing a great deal Uh for what's going on Okay To look at the x me Sally Yeah, you're a little lighter out here In metals and mining this is not horrible Uh, you got a six and a half on the way down and a five on the way up Uh, you had a little under four million shares two days ago today 2.6. I just think the whole market's kind of weak I looked probably for some kind of pullback To a trend lined back, which would be about Yeah, if it happened all tomorrow it would be about 40. If it happens in about three days, it'd be about 51 So That's not big Okay Could we see some continued improvement in bank stocks? I think, you know, as long as they keep raising rates. Yeah I don't see a whole lot going on here Uh Let's go ahead and take a look at the xlf Um, the big problem you have is the entire market right here is weak Uh, as I said, one of the things I love the best All It shares I broke that today it was 23 million so About being a lot that's kind of the problem of See you guys one's colony another one a weekly And he's doing it with a smile on his face. So, you know, he's probably it's his friend So he's just busting his chops Well, that's kind of good Now you get the same thing when yelling and screaming at somebody and it looks like they're gonna The heart. Well, that's kind of good that signal that you know Add they're smiling. There's horrible things. It's not to bust chops is because they really have a dislike So other someone says something I assume with a smile Uh, or uh says something mean to him with a smile Or actually is mean and says something mean, uh You can get the concurrency of the actions Uh from two people interacting and I kind of look at it the same way here You should see if everybody's all hot and bothered to buy stocks Which we kind of showed at least that for the most part it was The people on wall street because the high percentage of dart pool numbers out here You should see strong energy on the way up and you should see Previous highs a fairly decent volume and you really don't have that you've got What half the volume right now in the x lf and the previous high The energy was on my power law vector indicator number was 18 on the way down. It's 13 on the way up So you're probably going to get a pullback now does on a weak mean that you can't go higher. No It's just that the percentages are fairly good that you you would Uh on this one I think you could probably look at a re uh a pullback to 34 Box and maybe volume comes in in september But my guess would be that you either pull back and fail Or that you pull back and consolidate This and maybe get some more volume come september Yeah, I know the internet. They replaced the um one of the Um amplifiers on the pole down the street this morning and you always cringe when everything's working well That they'll do that We uh, yeah, what can you say? 877-927-6648 And now I'm back now Yeah, I turned off my tv and everything else, but Uh, you just never know on these things, you know, the one thing I didn't do is reboot all my routers and stuff um, I just let it Die because it was off from about 9 30 to Uh 10 15 this morning. I probably should have rebooted everything including the computer So I'll probably do that uh after we finish the show here, but Yeah, you live and learn Okay, we got a little bit of time left to go Uh, and uh, you can still email me and get the last question or putting it in the den We'll be glad to do that, but uh We'll just uh really check in in the last segment for the volume and see if it picks up much of at all but uh You know, we had some volume during this last hour. It was just that whole sell-off Um that really moved lower and quicker doing about seven and a half billion shares now Vista gold owns and operates the largest undeveloped gold project in australia the mount todd gold project Vista gold just completed their feasibility study resulting in a seven million ounce gold reserve Vista gold has all major permits approved and has retained c i b c capital market assistance in evaluating alternatives And in completing an accretive transaction. Vista gold trades on the nyse american and tsx under the ticker symbol vgc Vista gold executing a strategy to create shareholder value You might think that if you want to be successful at trading in the stock market You're going to need a crystal ball after all it's impossible to predict the future, right? 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It wasn't marking it to market It was just a 4.6 billion dollar bounce from one week to the next for what they Actually owned in equities, which they still own a lot So that tells you that something happened in there I think they had a short discussion Because I went tried to look it up later that day with Liesman leesman liesman And they kind of cut it off I dug around a little bit more and found a couple articles on it But it is the total amount of money they have not the The current notional mark to market value, but the total dollars that they had but uh that came in on friday morning But kind of swamped over swamped by the rest of them the News coming out. So they didn't spend a lot of time I maybe 30 seconds or a minute on it, but that's where I got the 4.6 billion dollars Because uh, he was scratching his head And talking to leesman and leesman didn't want to bring it up or talk about it at all and moved on fairly quickly But I did check it down and found out that there was another article from bloomberg and a few other places Now 4.6 billion in the scheme of things probably not big But if they continue to do that it could I suspect they did it to cover up that week Because they knew that bad china news was coming and they wanted to prep the markets to make sure that we were fairly bullish But it happened. So the question is do they do it ever again? So when you can not when you have to we'll see you tomorrow Building wealth trading in the stock market seems impossible