 The following is a presentation of TFNN 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 day. Because I'm back back in the saddle again. And of course as always we like to come to you at this time. The following takes place between 2pm and 3pm. Well hopefully it's everything is working out a few technical issues just barely made it on the air. On time but the whole Internet it didn't always cooperate and the whole Internet just isn't what she used to be. Anyway what do we have has been gone for a little while we're back 2973 83 is the last tick I see out here for the S&P 500 down 77 on the Dow Nasdaq's up 28 rustles off 5 almost 6 points again. We've waited to come back until we get Mr. Fed doing his little dance on the catwalk on the catwalk. Mr. Powell doing his dance on the catwalk tomorrow at starting around 10am probably should see a little action maybe about 10 minutes before that on prepared statements. So we'll open at 9 30 have about 20 minutes of hurry up and wait and then we'll see what his comments actually say. He'll also have testimony again on Thursday with the Senate but me probably not going to change his tune from Wednesday to Thursday. So we'll have a lot to look at tomorrow morning and probably right on into the afternoon. So far today we did go lower earlier in the day 3.3 billion shares on the CBOE consolidated tape. When we look at that you also want to look at what volume was yesterday and again we pulled back on fairly light volume so there's not a good sign. So far of any kind of long term signal change when we look at the well in fact why don't we just do it instead of me allude to it. When we look at the summation chart for the NYSE which is kind of the best medium term signal the trend is still up in the summation index. So we don't have a real clue there. We didn't have a lot of people piling on short at the highs. So if generally when you get that you get a couple of days of squeeze after it was a little bit more the last couple of days. Yeah but put call ratio in the VIX was in the 60s which is not. I mean I like to see something in 80s at 90 and you get an instant reversal and within the next two trading days didn't get that did get a little turned down. In the 5 and 10 percent on the summation indexes and did kind of roll off but the damage fairly minor so far in the broader indexes. Of course the NASDAQ moves a great deal more than anything else. So if we look around are we getting real clues anywhere else. Dollar index is right back into the 97s 97 088 on the last tick for that. So I don't see a great deal happening there. Proved 57 83 it's to start rolling off as tension kind of a bait a little bit gold right at fourteen hundred and fifty dollar fourteen hundred and fifty cents excuse me silver fifteen dollars and fourteen cents. So again a lot of hurry up and wait as we get into the Fed. We'll look at a lot of charts that we've had but you know when you're either wanting to go short or long generally markets fairly good at trying to draw you off sides football reference there for those folks in a small town in Florida. But that's about it. The I think we're going to get some kind of spike tomorrow probably in the opposite direction of the market. I would not be surprised to see it go up there ring the bell on three thousand on the S&P cash and roll over waiting to get back into earnings which really kind of start a little bit later this week but really not going to be anything big till next week. So a lot of hurry up and wait. No real signals. We've got a lot of charts though that if we did get a signal are going to be very interesting and that's what we're looking at today. No action quite yet but we'll talk about how the setup is working. We did it back in May and got fairly close within about a day or two I think of finding the high back then I think we've got a fairly good opportunity. The problem continues to be that I don't like trying to short highs when everybody is rather a dour and one of our friends in the den told me of the very very negative waves that the fast money traders were putting on the market. And they've been pretty wrong. So I'm thinking well man if they were just euphoric and ready to say bye bye bye. You know I think well maybe we've got some kind of top in but generally you don't have a big top in what everybody's looking at their shoes trying to find some little hole in the ground to put their big toe anything but looking at the sky and saying it's blue and the sky will be blue forever. None of that. All everybody crying in their beers and again don't get many highs when everybody's looking at the ground. You get them all when they're all euphoric and if there's any kind of secret to the market. It's pretty much looking at the opposite side of it. I always love that song I've seen fire I've seen rain by James Taylor mostly because it's his life being manic and depressive. I just don't see the fire. I see a lot of rain at the highs but that's generally not the way it works. You can give me a call at 877-927-6648. You can email me at path tfnn.com. You can also put a message in the den. I think a lot of people are getting ready and fired up for the big game which starts 10 a.m. in the morning but until then we should gird our loins. Much mail about that last time I said it and get ready because again markets pretty good to drawing people off sides and you kind of have to wait for the whites of their eyes. Of course I'm going to walk away with a mixed metaphor award again at the TFNN office party and the digression award. I seem to absolutely be able to take both of those every single year without anybody even coming close. The rest of the hoses of TFNN. No girding loins. Yes I know. Anyway what else got going on? We're going to the break. We come back. We've got a little bit of history. We're going to get right on to some charts and see how they're acting going into the Fed tomorrow tomorrow morning because I think we've got some balls teed up. Get the right kind of action tomorrow. Be back after this short. If it only short time out. 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? As you begin your trading day it's likely that you'll be faced with lots of decisions. 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Well, it doesn't really repeat but it does rhyme on this day in 1941 Cracker Jack British cryptologist break the secret code used by the German army to direct ground to air operations in the eastern front of course. A lot of people get their history from movies today and it's not very accurate. They tried to lay all the wins for breaking the cryptologist or the crypto stuff with the enigma machine at the foot of one man's door. It was a much bigger thing than the movie produced. In fact, they got a machine from the Polish when the country was overrun that actually broke the enigma codes at that time. So it wasn't anything new when they changed the codes though. It took a little while for these guys come back but a lot of hand wringing for politically correct reasons in the movie. But most people actually miss the guy that was probably more important than anybody else and his name was Tommy Flowers. Guy worked in a work for the post office making sorting machines and he actually pretty much came up with the first programmable computer that ran on paper tape holes and tape and actually worked on a generation behind the enigma called the what they called Tony. They had the the English operation in Blitzley Park all worked and had code names for all the different codes that all had to do with fish. No reason why. But I think once they named one a fish, it became all the others. I guess Tony is some kind of fish. I bet it doesn't look good. There aren't a lot of good looking fish. I mean, you got to you got to give it to the shark pretty looking good looking fish. I mean, maybe a little scary but good looking. But they got a lot of them down there look like they've been beat with the ugly stick. Anyway, this was a built on a typewriter originally employed for business purposes back in 1919. And like I said, probably the best and all the core work was done by Polish experts and they seem to get slighted not only in the movie but in history to the showed how it was all done. In 1941, everybody wants to say that it was because of the machines that were made and it was not what they did was came came up a way to actually crack it using pieces and strips of paper. No two letters could be back to back and that was one of the flaws of the machine. So all you had to do is take big long messages and slide them above and below these pieces of paper. And if you had two that repeated themselves, you had a way to break the code wouldn't easily but you could break it by hand earlier in 1941 by 1943. Of course, they thought that maybe it had been broken and update updated the machine with another actual wheel to make it well logarithmically harder to do. And that's when Mr. Tommy Flowers from the post office who made machines and understood how to design them a very smart man in his own right design the machine that would actually crack Hitler's own codes that were kind of more like radio teletype. They weren't anybody actually just putting Morse code down. Very interesting time and I think maybe why I'm so interested in it is because everybody would say that everything in those codes were random. Well, they're mostly random but not random. It was pattern in the chaos and every day when we show up to work in the stock market, we're looking for that pattern in the chaos. Chaotic is not random. It just appears to be there's generally an underlying system that drives everything on this day in 1941. Pretty far along to winning the war because we were reading all of their messages. Oh, I wanted to why did I do that I needed to. I wanted to go on that why I was gone. There was some interesting stuff going on. Come on. There we go. Going on with AMD in a Friday and actually into Sunday. And we'll take a look at the chart here in a minute. No, I didn't get this right. So I'll take that off and put on a chart of AMD. AMD has gotten incredibly price aggressive. Against Intel on the chips. They've gotten also fairly aggressive in pricing against Nvidia. While Intel, at least for gaming, the high end desktop CPU is still just slightly better than the just released Ryzen 3000. It's priced a couple hundred bucks cheaper than it. A lot of people are making some wild claims over the weekend. By today, those things are starting to turn down. But if you're not, if you don't have to have absolutely the absolute best and can probably take 95% is good. AMD has released a processor that is making some feathers ruffle. AMD has always been the poor man's chip when you didn't have money to buy Intel up to the last week. That was pretty much true. They also drop the prices against Nvidia's new products that just came out and Nvidia is down. Not a lot of juice so far, but Nvidia came out with some new upgraded versions of existing cards. And of course, Nvidia makes a pretty large sum on those video cards and AMD kind of second banana in processors, kind of second banana in video cards. Cards are actually much better, but they're getting very aggressive on pricing. And the question is, when you drop your margins like that, are things going to work out? Nvidia has taken a product that sold well over the last year and been head and shoulders above AMD for their video cards. And I think they still are from everything that I've read and seen for that. But AMD came out and just before they released their video cards this weekend, dropped them all pretty much 50 bucks to compete with Nvidia. So the question is, at least on AMD's front, will they see a drop in margins come next time and the street punish them? Because generally that's what the street does. Okay, so that we looked at Nvidia, we looked at AMD. Let's take a quick look at Intel. It's been on a downtrend for a little while. These guys are in problems. And like I said, when the new CEO came in, I did not like him at all. And I don't think anything's better. I think you still have an opportunity to see this back at just under 43 bucks in the near future. We'll be back in a moment. 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. 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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. Sign up for your 30-day free trial to my daily newsletter, Market Insights Day, by visiting the front page of TFNN.com. Well, go get them, folks! It allows you to scan thousands of stocks for Fibonacci formation setups, including guardleafs, ABCs, butterflies, and much more. The art of timing a trade chart 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 breaking news now. Lighthouse and her mooch and spoke with the Chinese Vice Premier this morning, apparently, maybe last night. But the news is breaking now. Pushing the market up just a little. We're back to flat. $29.75, $66 on the S&P cash. Down $68 on the Dow. Nasdaq's still up $33. Russell's off $5. So continue to see probably the Russell a little week as long as trade news comes in fairly well. But at least, I don't know if it's forward progress. At least no negative progress in the trade talks at the moment. See if there's anything else going on. Let's take a quick look. See if there's anything else happening. I don't see anything. See if the volume is updated. Again, light volume on this pullback last yesterday, and it's going to be light today for the push down, but three and a half billion shares. So volume very light. We were talking about earnings and had a couple of questions about that. And see what do we have? Well, we have after the bell tonight, WD 40 and Levi Strauss. Those aren't going to move the markets tomorrow when we get up in the morning. And nothing happened in there. Bed, bath and blow after the bell tomorrow night. I don't think that's going to move anything. We go into Thursday. That's it with Delta Airlines. But again, I don't think that's going to move the market very much either. And then we go basically into next week. Info systems come Monday morning of next week. And then you take a whole bunch of days. We finally get some bigger stocks like Citigroup on the 15th. That's the morning of the 15th. JB Hunt after the bell on that 15th. Again, very light and spotty. Then it becomes the big deal. And that is the 16th of this month. We get JP Morgan, Goldman Sachs, Wells Fargo, Johnson and Johnson. Dub, Domino's Pizza. So that's really where we're going to start seeing the big movement. After that, Bell on the 16th CSX United Continental, Centos, Interactive Brokers, a handful of those things. But it kind of goes right from there. You get into the 17th. You got Bank of America, Abbott Labs, Comerica, Erickson, Bank of New York, Textron. So again, not the kind of monstrous moves, but certainly ones that make you think stuff's going on. Thursday the 18th, you want to write that down. If you're in tech, it's Microsoft Intuitive, Surgical, Capital One, Financial. Those are all after the bell. Then we go into that Friday the 19th with Cleveland Cliffs, Black Rock, Kansas City, Southern American Express, Slumberger. And really that is kind of the, even though they're not huge in market moving capability, they are in a bit. So a look for, what do we got? Ten days, yeah, eight to ten days to really get moving. So tomorrow is going to be a big deal because we don't really have a lot of news that's going to move the market other than that until we get into mid of next week. So get ready for all the action. As most pilots will tell you, the big deal is that it's hours and hours of boredom with seconds of sure terror. And I think that's what we've got coming up at least a little bit for tomorrow. And then of course, when we get to earnings, I think there's going to be some fairly, a lot of people off sides and they're going to be drawn outside. It's got a good question in the den and in the email. Facebook, both running up toward 2018 highs. Do you see that happening? Yeah, I don't see anything. Again, Facebook, Amazon, both are going, you're just going to wake up one day. You're not going to know the day and you're going to see that there was some kind of action about antitrust issues. And Facebook, probably getting hauled in front of the European courts. They're not taking Facebook at their word. And of course Facebook, although they're throwing a lot of money around for the election, don't think they have enough to buy off the EU who hates them rather bitterly already. And again, you don't know what's going to happen. It was just like Microsoft's action back in 2000. It came out of the blue and Microsoft was down 30%. You're going to get something like that. Is it this year? I think it could be. I think we know that those investigations have been moving along now for almost two years. And there's more than enough crime to go around for those folks and they lied to Congress. So I think you've got, you know, a handful. Amazon, probably a little bit better protected in that their business is a little bit more transparent. About as transparent as the CEO, if you want to call him a transparent weasel. But that's about it. There's not that much going on. Anyway, you're breaking these eyes. Do I think you could get up there with light volume to 2050 on Amazon? I think the answer is yes. Facebook just continues to tell everybody one thing, lie about it and do the opposite, which of course makes a lot of money in the short term, but is highly problematic. We're back into the previous high on Facebook that had 54 million chairs with 10 million chairs today. And if you want to go back and look at this gap down on July 26th of last year, that had 170 million chairs with 10 million chairs. Is it going to break? The energy was not all that bad off the lows. But again, my guess is that both Amazon and Apple and Facebook all could walk, you could wake up one day and find that the feds have opened a antitrust case on them and make it very tough for them to continue on doing one thing and saying yet another. Okay, that's what we got. American Financial Group. Again, we were looking at a lot of these stocks. I see a lot of financials up at the high and on light volume. So we'll see how these go after the last or the next couple of days. Yesterday had 285,000 chairs above the May 2nd high at 104.54. That had 600,000 chairs. We also have a little action in the biotech space. Align technology actually makes those clear braces for kids. Actually one of the better looking stocks, although I wish it had a little less volume coming off the June 10th high. But back in the trading range above 272.60, which was the May 31st low. Again, with two and a half million chairs up today though on just 573,000 chairs. What else do we have? AmeriNature Foods. A-N-F-I don't know a lot about this company, but it looks like it's coming back into some level. If you're looking at penny stocks at support around 1.6 cents, A-N-F-I believe back. I'm back in the saddle again. If you're in the CD market and looking for a secure investment, the Tiger First mortgage program may work for you. 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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. Don't forget, you can listen to TFNN live on your mobile device 24 hours per day. Go to TFNN.com and hit Watch Tiger TV. That's TFNN.com. Then hit Watch Tiger TV for the latest market information. Man, what a laundry list of people involved in New York on this Epstein thing. I wonder how many will actually get a pass from those folks in New York because they're big in politics. But you never know. Get the best money, the best laws that money can buy occasionally. This looks like one of the issues. Okay, some of the other ones that tell me that we're at an inflection point. If we don't get the news that the market wants tomorrow, builders are first choice. BLDR, one million shares yesterday into the high of May 8. $16.94 cents. That's three million shares back on that May 8 high. Yesterday, you really just had 700,000 shares. And back into the trading range. Energy is about the same on the way up as on the way down. I want to see a lot of stocks that went up on very light volume. And even things like Delta Airlines with the earnings coming in soon for that, still haven't rang the bell on the previous high. For Delta Airlines, it's the November 30th high at $61.32 with 11 million shares. Oh boy. DIN, I looked at this earlier this morning. DIN Brands Global, DIN's the symbol on this one. And let's find out. I want to know exactly which ones they have. But this one may have the best candle reversal signal yesterday of ones that I had seen. A lot of restaurants. Applebee's, iHop, Applebee's Navalhead, Grill International, Pancake. I guess they got a whole bunch of them. Changed its name in 2018 to DIN Brands Global in around 1958. Well, certainly went after the previous high that had 600,000 shares on February 25th with 390,000 shares. So not quite 60, 65% of the volume. It came right back down though on a little lighter volume yesterday right back into the trading range. And again, this one had enough of a light volume move from that May 1st low that you kind of knew that when it rang the bell it was going to turn around. I don't see a huge downside in it just yet. Darden Restaurants, again on the restaurant theme of seeing these actually had some decent volume going into its previous high. That's 124.45. That's the May 21st high with 1.7 million shares. On Monday you had 1.86 million shares up to that high. You biked it today and reversed back down with 740,000 shares. So it's kind of close. Again, you can give me call it 877-927-6648 or you can email me at path at tfnn.com. What else do we have? Health, HTH, which is Hilltop Holdings. $21.59. That's a 1.8 million share high. Very light volume last couple of days. Less than 200,000 shares on Friday yesterday, 339,000 today, 228,000 with a little bit of a doji out here. As you said, earnings coming up in about eight, nine days for a lot of these broker dealers, J.P. Morgan. The energy about the same on the way up as on the way down to the May 31st low at 104.10. This got kind of close. But 116.33 is at April 29th high and any kind of good news tomorrow probably takes it back up there. One of some of the areas that look the weakest is also the car business. I'm watching this one for a possible double repo pattern. This one's had kind of the best look at one and what we are looking for more of. It worked very well in May. And that is that you get 10 or 15 days above a three by three displaced moving average or a nine day moving average. A couple of days below it, which you got, a handful of days above it. And then the next close below it is the key to that. Now tomorrow we get some negative news. I suspect you're going to run right back down to 80 bucks on this fairly quickly. You had a June 21st high at 88.64 with 10.4 million shares compared to the high on Friday, June 5th, with just 1.2 million, 1.3 million shares. Again, not a lot of juice off that June 24th low. You got the pullback and you got the key to that today. If it continues tomorrow, I'd say it's one of the weaker stocks at highs that I've seen. To do what else do we have? Let us semiconductor the semis right up at the highs, but again, not much in the way of volume. May 1st, you spiked $14.93 and LSCC did so much better than that. That's about it for today. We've got 4.8 million shares cut into it today with 2.1 million shares so far. When we look at very international, it broke above its previous high with just basically the same volume. I went sideways for a handful of days. It's back into the trading range. Now this one had much weaker volume off the May 31st low. Three by three are a nine-day moving average. Then the next side down, if I wouldn't speculate until it does it, but I certainly would say those would be the more bearish ones. Pulling the trigger here is probably a little bit problematic. What do we have? Metlife, MET. 6.5 million shares on May 21st, $50.40, 2.3 million shares two days ago on Friday. So you got into there. What about a million shares light? You're back into the trading range. The big thing is just how light the energy was off this June 3rd low. Other stocks of interest to me is Northrop Grumman. This one has tested the June 10th high, $323.73. With a million shares, yesterday you had 377,000 shares. As you spike over that high, but close back below it. Today you're going sideways on 266,000 shares. Netgear, one of the stocks I've been looking for that may have some kind of floor in here. If things turn up, NTGR is the symbol on this one, the maker of routers for home users. And then just going sideways out here at highs, of course, a good sign of distribution at lows, a good sign of accumulation if this continues. New skin bouncing around the $45, $44 level, looking at support. When we come back, we'll talk a little bit more about that. Wrap up the show, the shoe, and then we'll get on. And of course tomorrow we'll be in it, in the thick of it. Mr. Powell doing his dance on the catwalk. In three 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. 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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 TFNN.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. 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 today 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 of the opening call today by visiting TFNN.com. Next on TFNN. And we're talking about news skin out here bouncing around the lows today, 242,000 shares. The low came in at 44.55. So you still got another 50 cents to go into this spike back on March 25th that had 44.02. But 1.8 million shares compared to the 242,000 shares. So we're watching some of the fruit start to ripen on the vine if things go our way. Question about IBM. They closed their acquisition of Red Hat today. So it's official. Probably make their earnings look a little bit better, at least flatter, going forward. I don't know if it'll end up being a great deal or not. Down a little bit today, but that may be for other things. Again, probably a distant, a bigger trading range or around 145 back to about 125. And I don't see that changing anytime soon. Question about Twitter, TWTR. Again, these things, a lot of stocks are like this with slightly higher lows and lower highs. So if we get a real big bounce higher on these, then you will have busted through these bigger triangle patterns in a lot of these stocks. And if you get any kind of downturn, that generally is also a fairly good sign that you've got a high end. But that's about it. Looking at a lot of stocks, a handful of them. But maybe it's a couple of days. It's not. But again, the market is very good at doing one thing, and that's getting you to act before you get the signal. And we need to wait for those signals. Sit on your hands. Wait for the whites of their eyes. But I think that's probably coming tomorrow. So we shall see exactly what Mr. Powell has up his sleeve. In the meantime, sell when you can, not when you have to. And we'll see you here tomorrow. Thank you very much.