 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. And welcome all to another excellent edition of the Power Trading Hour. And what do we have? Well, let's update this, because I know it's probably a second or two below. Down about eight points, and I am not surprised. Friday, although I was under the weather, I sent out some updates for both the Tech Insider and the Path of Lease Resistance newsletters, which you can both get by going to the front page of TFNN and subscribing. You would have known the pattern I was looking for, and it is rather bearish. Don't have quite confirmation on that yet, but my guess is in the next couple of days, we will. And that will probably suggest that we will go down and retest 3750-ish and probably break it. And I think that there may be a target down about 3,600 on the S&P cash. And of course, I'd been kind of thinking that we were at least gonna get to 3,900, we got there. I thought maybe earlier, a couple of weeks before that, thought maybe 4,000 was doable, but we came down again. But there's just, there aren't a lot of great, as I said, I was hoping for a burning bush, didn't get one quite today for the top other than just a whole lot of nothing. But we went up on light volume, we've gone down on light volume. The one thing that we didn't get on Thursday or Friday that I was looking for was some kind of capitulation. Everybody going short. Blowing out the lows and closing back in. We have everybody wanting to buy the lows. Everybody, and I heard, saw some comments earlier in the day in the den about everybody being short. And my evidence is just the opposite of that. We had a lot of people that did short the market, but on the way back down, they did cover. But we've got some fairly historically low put call ratios and at least in the VIX. That's generally, if you're not buying out of the money, puts and calls, you're not expecting a big move in the market. So there aren't a lot of people that are set up for some kind of big gap down. And generally, why you don't always get it, I like to say it's this kind of same thing. You get a lot of warm water in the Gulf and you get a tropical storm. And then maybe it develops into a hurricane. Well, why we don't have that as much right now in the Gulf, we certainly have that, I think, in the market. And as I said, one of the bigger patterns that I've looked that has a very high batting average could be confirming out here today. 877-927-6648, and yeah, that's about it. I don't think that the pattern probably ends up confirming until Wednesday, but I think we're probably close. Today is kind of a good indication that you couldn't hold high and you don't have a lot of shorts. And volume was lighter on a expiration day on Friday than the date of the storm. Then the days around it, which is also kind of weird. You can also email me at path at tfnn.com and I will take your dulcid questions there, which we have, I think, already. Question kind of up there. Already took some profits on there about lows. I'm just, again, a lot of people are asking for very long-term predictions, at least as far as I'm concerned. You've got a lot of a mix of news headlines and I don't want to outdrive my headlights. I am trading and am now trading, especially with a Fed, with Russia, war fears, basically an administration that's at war with itself, with the country on energy, ill-advisedly. We could be just like Europe right now that is a huge problem because it depended on the kindness of evil strangers, like Russia for its energy, when we offered to drill baby drill and give you some of ours. They could probably count on us, but no, no, no, no, no. We've got to appease the evil that is and was Putin at the time. But again, if you're an idiot, there's no fixin' stupid and Europe is suffering now for its idiotic policies and we can just hope that we make it through unscathed with the stupid policies at least we have on energy and some others going on right now. But as my dad said, they didn't give brains to some people as much as they gave brains to a coat. What else do we have out here? Oh, I do have a sit-rep. Some interesting things going on. Quietly, I don't know if anybody talked about it because I wasn't around on Friday, the SEC approval of derivative single stock ETFs on Friday. That kind of came and went. I don't know, I wouldn't watch on TV or anything. But soon, soon you'll be able to buy triples of Amazon and Apple and Microsoft and all the big stocks that you want. Why the approval is there, I did read it. It's very thin on how they're gonna run it. There's probably not a day that goes by that I don't think of Jesse Livermore and his book, Reminiscence of a Stock Operator. But to begin with, there were these things called bucket shops back when he started trading right at the end about 1895-ish, 1890. I think he started trading. And these were just basic con shops that ran a proverbial scam along the lines of the sting where they delayed the horse races and actually made a lot of bets and stuff. If anybody knows that. But he was smarter than them, knew it was a scam and would wait until positions opened up that they couldn't scam him out of his money. And then they would try to cheat him anyway if you read the book. But I always wonder about this and some of the other things that just kind of come very close. And the reason I bring this up is that they may not be totally useless, but my guess is that much like the bucket shops, probably more than half the time heads, you lose tails, they'll win. It probably will be kind of tough. How dare you? Anyway, we'll be back in a minute. Inflation, we are purchasing powers eroded. 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A frequent contributor to TD Ameritrade Network and CNBC, Tom O'Brien founded TFNN over 20 years ago to help educate investors just like you. Tom's Daily Market Newsletter, Market Insights, is published every morning when the markets open to give you the competitive informational edge you need to succeed. These newsletters are packed full of Tom's advanced technical analysis and are geared to deliver comprehensive strategies for a successful portfolio. Get Tom O'Brien's newsletter, Market Insights, today and try all of our products and newsletters 30 days risk-free with our money-back guarantee at TFNN.com. TFNN Educating Investors. Toll free at 1-877-927-6648 internationally at 727-873-7618. We had somebody post the link out here for at least one of them. I think there's five different companies that are going to have single-stock futures and I didn't write all of them down. I know they're rolling out across the summer so it'll be a little while before all of them out there but this one AXS has Tesla, NVIDIA, PayPal, Nike and Pfizer. So a little bit of everything out here. Two times, two-time fool, three-time fool of these but I had a question in the e-mail about those and whether or not they will be useful. I think although people tell me the quickest way to go to the poor farm is to trade the UVXY since I actually know how the VIX is calculated there are a few times when just like Jesse Livermore the odds are kind of on your side against the house and there'll be times when you get a movement or that you can see a movement coming that it will be appropriate to probably use some of those but if you use them all the time you're destined to go broke. So, yeah, just like he cleaned the house of the... the... of the... of those... bucket houses I think you can probably make some money on it. The thing is you're going to have to get a little history see how they trade and probably only take the trade when you get a little bit better price than you actually thought you ever would. That means if you are... if you're thinking you want to buy it there buy it two dollars less and put your order in there and then if you get it, you can really like it. If you liked it two bucks higher you'll really love it two bucks lower but the thing is going to be... a lot of times they're just going to be finding a great way to take you out of the trade and I don't know how close those are going to actually even track the underlying price of the equity itself but, yeah, faster ways to get rid of your money. Anyway, we're going to keep an eye out here on the market. As I said, it kind of gave up the whole pop today not surprised to see a great deal of that but the proof of the pudding will probably come Wednesday today and tomorrow our options roll over days where we're really kind of setting up all the moves through September. The September options expiration is probably the most important because it really sets up what everybody thinks is going to happen. My guess is that we're going to probably see some kind of setup where everybody wants to get long right after November 4th this fall but I do digress. Okay, other things going on. Oh, we got a little bit of history. And, yeah, we'll do that. On this day in 1968 Robert Noyce, Andy Grove and Gordon Moore incorporate Intel in Santa Clara, California to build microprocessors. The first processor of the 4004 was released in 1971 for use in Calculator's IBM choice of Intel 88 processors for use in the IBM PC led to Intel's emergence as the premier manufacturer of processors still to this day although I would say that AMD is encroached because they violated what Andy Grove actually said. He had one of those things where normally you put your name on your desk. And I think if you're the CEO of a company they probably know your name already. Anyway, he had one of those and it said if we don't eat our own lunch someone will. And they, I'm going to say 2016, 2017-ish went all woke and nuts and decided to throw away a commanding lead and AMD came back literally from the dead and that's a lot more. Anyway Andy Grove there's a great book if you want to understand marketing high technology it's from David Al who was along with these guys. He was kind of the marketing arm of Intel back in those days. A lot of the principles that they espoused in the early days are ones that other companies picked up like Apple and others. But it's always interesting to see that someone comes along and thinks that they know innovation better than anybody else and innovation ends up being getting rid of our best people because they dated someone 10 years ago and that's what Intel did. They proverbially threw away their seed corn to act all important out there. But on this day in 1968. So I got a couple of questions already about what do I think about this chip deal and of course the speaker of the house's husband getting in does he know something we don't know? Well, I will tell you that the single best trader ever that has ever lived the highest batting average is Nancy Polacy's husband. So, do you think he is just the best trader in the world or do you think he has some kind of inside knowledge? Even today ask about it she said we just don't talk about those kinds of things. So, well, I got some swamp playing for you. Just inside of Miami for sale. And of course don't mind the crocodiles and alligators. They'll only bite you once or twice and then they'll take you down and tenderize you. Let you sit under the water for a while find some big log to put you under and then come back and get you in about 30 days when you're nice and tasty at least the way they like it. But yeah, who can think that someone who's made $325 million alone in trading banking banks which she's had a huge control over in the last 12 years that her husband just kind of mysteriously all got IPOs of all these spinoffs that all the MasterCard and Visa and all these other companies have had. I know it's not limited to her in being kind of the Tesla of corruption. So don't have much to say other than that does he know something he's heavily buying Nvidia and it may just be because he thinks it's down there and low. There may be another reason and that is that there's a big part of the provision for this silicon chip thing coming through that's all about whether or not they will reward chip design in the United States, not just manufacturing. Big problem with manufacturing is that the EPA chases you around with a stick all the time and nobody in their right mind wants to try to build a fabrication company and if Intel didn't already have them here in the United States they will build them here again. I don't think if anything changes with the EPA much is going to change with this. We'll be 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. 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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 Chart today by visiting TFNN.com As we come back Yes, we hear from somebody out there in California but not only does he know how to do that, he knows how to get away with it. And there's nothing you can do about it. Okay, what else do we have out here? Okay, we're going to go through some earnings here quickly unless someone has some other questions. But that's it. Looking into the rearview mirror we had some nice pops earlier in the day. Bank of America came up a little bit gave it up again very light volume out here today on the pop above this. You had a little more on Friday I think you ran the shorts. There are just once that many of them. I'll have a new reading for my subscribers probably tonight or tomorrow I'm running the numbers and everything for those. So we'll have a new list of highly shorted stocks but in the downside you just kind of want to stay away from those and find the lightly assaulted stocks shorted. But that's kind of it. Of course another one that had a pop today and gave it all up was the Goldman Sachs and gave most of the pop up anyway. Still have a gap out there for today. That's at least sizable you got some decent volume but you gave up what 10 bucks from the highs up here and a lot of the iffy stuff out here. I don't see a great deal anyway what do we have out here S-F-Y another one out here S-F-Y is that right? S-Y-F he said S okay synchrony financial cleaned up here another one kind of the same thing you just lack a days ago bounce where you give most almost all of it back up. Charles Schwab C-A-E H-J-W which is a little bit of the broker dealers kind of the whole thing popped a bit a couple bucks gave it all back up and you may close lower than the close on Friday on it to appeal the prologic which makes me want to know and think about curing this we got some other stuff out here oh oh jimmy jimmy give me a laugh I'm gonna have to excuse me I'm gonna have to save this gotta save that yep that was well worth it jimmy thank you sometimes some of the stuff that I get alone from feedback from the listeners is worth the entire entire days pay anyway prologics when we look at this kind of interesting did retest the top gave it all back up too and I'm starting to see a theme here after the bell tonight one of the stocks that's held up the best in this downturn has been IBM and of course they've been moving toward selling quantum computers and they're considered at least to be thought of as having a good business even in bad times especially if they're gonna be selling these quantum computers to the NSA CIA and everybody else I think that they've got something working already at least partially if not totally for breaking codes because they're so worried that other people are gonna break our codes but not so much that they want anybody to actually have codes that are unbreakable but you just kind of go in sideways I think this will probably set some of the tone for the first hour tomorrow morning as we go back and look at it question to look at the SMH's and NVIDIA SMH we'll look at that first like I said just about everything you had a pop, gave it all up not that much interest in it NVIDIA was probably bigger because of course Pelosi's husband was buying huge amounts of it and that came out you got a kind of a doji out here would be interesting to see whether or not we get a gap down tomorrow and that sets a high in NVIDIA take a quick look at AMD oh Jimmy why don't you post that in the den yes I do advanced micro devices you got just a little doji out here too a little gap higher but that's kind of it but we shall see anyway CRK take a quick look at that resources a little bounce of course Dr. Copper out here has been telling us we've got Ebola and I think that bounced a bit today but you know other than the heat I don't see much in this you got almost nothing in a bounce 1068 it looks like a retest take a quick look at UNG today and just a hot summer made it I still I was thinking that somewhere around this area 24-25 would hold and it didn't it blew up and blew everybody out to 1828 on UNG but again probably he made some money but probably the real movement and a bigger ABC starts in August on this on natural gas okay see if we have anything else out here on the earnings calendar not for tonight but we're starting to see then pick up now tomorrow after the close is in FLX a lot of debates on what's going on on it and why you should every debate I heard was somebody saying that I should buy Disney which made me think that maybe there's some bots out there and a program to get people to buy Disney based on anything Netflix says tomorrow I don't know how much I want to do that so I said parks doing well streaming services all kind of suck the big one so got a little bounce out here no volume on Disney do we also have in the morning I think yeah we have J and J Johnson and Johnson you just I don't see a whole lot out here that gives you any indication on that did see that the CEO of Lockheed Martin was out making the rounds today trying to talk up that cheap the chip program from the Congress and putting us of the same dangers of cutting our nose off to spite our face on gas over the last year and a half with chips you actually have a nice pattern I would have liked to see 39466 hold today but at least you're doing it on half the volume of the June 17th low on Lockheed Martin we shall return has been your trusted source of analysis for bonds, metals, stocks, commodities and options for years and 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I don't think I did J&J this is a four market open tomorrow too so join us in the Tiger's Den tomorrow as I have time I post any of the earnings in the response to them but you got just a just covering this gap up from Friday which I think was the whole gap thing was an anomaly as I said if you want to dig deeper you can go into my newsletters and I posted it on Friday a rather complex pattern to but it has not confirmed yet but I think it will Novartis so maybe we're starting to see a little bit more biotech come out there dark cloud cover on this one or bearish engulfing I guess would be a better description of this candle with some decent volume let's take a look at the IBB real quick I like the IBB just because it's got 200 stocks in it and for a very volatile index like biotech it's a little better you got kind of the same thing out here not as not as pronounced Ali financial hasbro generally this stock gets strong about about August or September so I'm not surprised to see it at lows of course there haven't been any good movies and we probably have to think Steven Spielberg and George Lucas for really making the tie in between movies and and the stuff that you sell George Lucas got Star Wars made by giving away all the money he would have made as the director for any of the rights to selling this stuff like toy skywalkers and all that other stuff and of course now it's kind of a hand in hand thing you don't make a movie without looking at what you can sell on the back end of it for toys and merchandising and t-shirts and everything else that all goes in before any movie film I feel like grandpa here talking about film in this day and age before any video is shot although I think few people still use film but I don't think anybody with color anyway doesn't look as bad with one think but again better reasonably to be looking at this in late September I'm just wondering if with all the streaming stuff there hasn't been a big hit out of the streaming for toys except baby Yoda I'm trying to remember maybe somebody else in the in the den nose of any other toy that have sold well I think with what they did with with the latest Star Wars stuff is make people not want to buy anything maybe that was their plan but hard to say anyway Hasbro tomorrow morning is that it yeah after the close tomorrow night is J.B. Hunt J.B. and T right J.B.H.T he said I knew I had it wrong transportation services course an economy slowing down did have a very good retest of a slows on about 65% of the volume back here at 153 92 I'm wondering if that's enough if energy prices continue to climb back to their previous highs and again you know 4% higher today not a big deal psychologically probably a bigger deal with crude getting back above 100 bucks and yeah you should have filled your tanks up yesterday probably the answer to it all but yeah kind of interesting so we're off 11 points after being up some 40 points off 16 points now after being up some 40 points earlier on the S&P cash but yeah not much just going on here okay let's get back to our earnings foreshadowing see anything else tomorrow not really let's go to Tuesday let's go to Wednesday Wednesday after the market closed we've got Tesla and my mom says don't say anything about someone or a company if you can't say something good and I had somebody ask me what is actually good Tesla although you think it's a 40 or 60 dollar company probably the best thing are the patents that they have on their silicon carbide chips and it's this is kind of one of those deep in the woods things where if they had a competitive advantage it came down to their engine and power delivery systems but early on I think in 2017 or 2018 he decided to go to I wanted to say silicon dioxide but that's not right silicon graph anyway not the same kind of silicon you see silicon chips made out of today I'm just having a senior moment and this kind of silicon actually will work at much higher temperatures but the regular silicon that all the chips are made out of about 175 degrees is about as high as you're going to get centigrade so no not silicon nitride silicon I'll think about it during the break but the silicon graphene not graphene anyway can go to about 300 degrees centigrade and that's what he's using in the power chips normally probably through I don't know 2010 MOSFETs were the big thing for going ahead and taking power and converting it silicon in place well certainly those are worse something and they make a some other stuff merchandising merchandising well these are the chips so they're actually better more efficient but if there's one thing that goes on I'll look it up during the break that these chips do is they're just very much more efficient than what other people are using for the power conversion the motors let me say this correct in a Tesla AC but the batteries are DC so you got to get the DC to AC and probably something like 1200 volts I think that's what the Tesla engines are on and so you got to go DC to AC to a whole lot of volts and they're using this different kind of silicon which I'll look up during the break and remind you of but that's probably the biggest competitive advantage is their electric motor and their power delivery system but the rest of the stuff no different than anybody else we'll be back in a minute you might think that if you want to be successful at trading in the stock market you're going to need a crystal ball after all it's impossible to predict the future, right? like any endeavor in life before you decide it's impossible get some advice from the experts you might find that it's not so impossible after all for daily market overviews that you can use and you might find that it's not so impossible after all for daily market overviews that give you direction on the key indices selective stocks and commodities subscribe to the opening call newsletter at TFNN.com the opening call newsletter is written by Basil Chapman creator of the trading methodology known as the Chapman Wave the Chapman Wave up-down sequence gives you an edge in identifying price turns finding the peaks and valleys and stock prices get the opening call newsletter by Basil Chapman your inbox every day first time subscribers also get a 30-day money back guarantee if you're not satisfied let us know and you'll get a full refund within 30 days of signing up TFNN.com educating investors everything in the universe is governed by the Fibonacci sequence this mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market to stay on top of stock patterns sign up for the Fibonacci 24-7 newsletter at TFNN.com when you subscribe you'll get a weekly report from veteran day trader Larry Pezzavento on stocks you need to pay attention to and you can trust Larry's analysis after all, he's got 45 years experience as a day trader Larry will also provide daily charts videos and data on the key markets that he's tracking expect notifications from Larry on market movement you need to act on at any time first time subscribers also get a 30-day money back guarantee if you're not satisfied let us know and you'll get a full refund within 30 days of signing up subscribe to the Fibonacci 24-7 newsletter today TFNN.com educating investors the market hours available to all tigers and tigers for just $1 for the year there's no cash or added costs when you join our community of traders sign up today and become a part of this educational community of traders just visit the front page of TFNN.com and as all things out there stuff finally comes to me a minute or two after the commercial it may just be the pressure of being on the air or having to stand and deliver but a minute or two later I actually think of exactly what I wanted to talk about in 2018 or 2017 ST Micro electronics started delivering a product that they actually worked on in the for Tesla and it was this new silicon carbide chip and there just isn't a lot of silicon carbide out there capable of being used for this so there hasn't been a big push I know Infineon is trying to do the same thing but there are a bunch of patents that Tesla has around this they gave up all kind of worthless patents but they've kept the ones around this chip for converting the DC to high voltage AC that's far more efficient and about half the size and half the weight and this is kind of the biggest part of taking all those batteries and turning them into rotating wheels but again ST kind of took off on that for a while but now everybody kind of knows what they should expect and the prices kind of figured in but I think at least if Tesla has done anything it showed the way that you probably need to start thinking about technology for high power devices opposed to your iPhone which is all about low power you're going to need to in these kind of cars really be able to move a whole lot of amps I'm talking technically so when you can not when you have to we'll be back tomorrow and we'll talk about some of these earnings from tomorrow morning and other things too Building wealth trading in the stock market seems impossible to