 The following is a presentation of TFNN. The TFNN Bull Bear Trading Hour. Every trading day, live at 10 a.m. Eastern. Call now. Toll free at 877-927-6648 or internationally at 727-873-7618. The TFNN Bull Bear Trading Hour. Now, Tom and Tommy O'Brien. Good morning, everybody. Tommy O'Brien and Tom is out today. I'm fortunate to be joined again by a man, Basil Chapman. Basil, good morning. Good morning to you. What a disruptive session yesterday. And what about the disruptive half hour we've had since the opening bell, right? Well, you know, you think so. But if you're looking at the Dow, down down 32, S&P down 3, I mean, people keep talking, you hear, now you're hearing ads on the radio and TV and they keep talking about this volatile market. It's only been volatile on the way up. Usually, volatile means down. Sure. And to just sum it up, folks. Dow is down 30 right now. S&P is down 4 and ASDAQ down about 14. But I had the Dow chart up there. We were above 26.5 to start off the market. Basil, a little bit of a sell-off. We're at 6409 currently. Lots going on. We have Morgan Stanley earnings this morning. Pretty flat, but they seem to deliver. Morgan Stanley right now, up about 40 cents, was as high as 48.61, though. And we're going to get right into it. Speaking of earnings, speaking of action in the market, let's go over to our man, Kevin Hinks from TD Ameritrade Thinker Swim. Every morning, folks, right after this program, 45 minutes, Kevin Hinks, Tom White, the team breaking down defined risk options. Lots going on in terms of earnings season. We had Netflix last night. Kevin Hinks, good morning. Good morning, Tommy. Good morning, Basil. How are we doing? Good morning, Kevin. We're doing well, man. How are you? I'm going to connect some interesting dots for you guys in terms of the trade this morning. I'm going to compare UnitedHealthcare. And here's why. Both of these companies have uncertainty in their future. But he's opened higher and sold off higher. Why? Not because the earnings were good numbers. You almost want to ignore the earnings and look and the underlying risk with the both firms is the future, not the numbers that they put up. That's why these stocks are acting like they are. Yeah, it was pretty interesting, right, in terms of Netflix jumping into that one. So they only expect earnings per share of 55 cents in the second quarter. And that's compared to almost $1.99. Analysts had been looking for that forecast. So really talking about a decrease there. And talking about how maybe the price raises that they've had could hurt their subscriber growth. And Tommy and Banffo, you know, this stock was trading over $370 pre-market, right? Yeah. So, I mean, it was trading significantly higher before the open. Now it's down $5.27 or $3.54. Yeah. I mean, I have the chart up here. Kevin on the TD Ameritrade platform, Thinkors Swim, and $6.30 in the morning. We're back to about $3.55. And we charged all the way up almost to $3.75. And then a slow fade from about $8.45. And then really it fell out of bed right on the opening bell, yeah. Yeah, and very similar, if you look at the chart action yesterday on United Health Care, very similar in terms of the chart action. So that's a little bit of kind of a wet blanket on those two names. But I'll give you something to be positive about, guys. We just had a number come out international trade, okay? It came out minus $49.4 billion. Now think about this. They were looking for a much higher number, over $53 billion in terms of a trade deficit. And what should that lead to? That's going to feed right in to first quarter GDP. A number that a lot of people have been talking about in terms of trailing downward. This is a much stronger number than people were looking for. And Kevin, that's been the missing link, hasn't it? So we've been waiting for this GDP to improve. This could be the first real sign. And as you're waiting for that GDP number, what do you start doing? You start looking for the numbers that make up that GDP. Well, international trade and our trade deficit is a big part of it. So I'm looking for starting to move to the north in terms of some of the expectations for first quarter GDP. And then, of course, Kevin, we had Morgan Stanley coming out with pretty decent numbers this morning. But just like you had mentioned, some similar action there in terms of trading higher, up to $48.60, and we're now a buck off that level, not flat, but up to $0.40. But big numbers, man. Almost $10 billion in revenue, I believe, for the quarter. And great products, great revenue in their wealth management division as well. Well, here's the good news. Trading revenues for the quarter in Stanley is very focused on wealth management. That, in a market that's probably had a pretty good quarter out of them. And you know what? We had a nice upgrade for Goldman Sachs today. So internal weathering earnings pretty well here. Yeah, I would say so, man. Those numbers are just staggering. The banks pop. That's really improved the IAI, which is the broker-dealer index, which is something that we've been following with my subscribers for a really long. And I think that's going to be important. You probably could speak to it better on your side of it. But if the brokers start to see increased revenue because or increased participation by the layperson coming in, and I think if the Dow keeps moving up like this and it's announced on the radio or TV enough times, people will start getting in. So this could be a very positive aspect. From the first quarter, our significant for trading houses and brokerage firms doesn't make for great trading revenues and net interest margin, right? Because for the first time in nine quarters, the Fed didn't raise rates during the quarter. The things are the negatives for houses, banks, financials in general. But you're still getting wealth management and people net worth going. Get to basically be straight up in the first quarter. Yeah. Doesn't get much better than the 90 days we had. And it was a tough 90 days before that, which is kind of what precedes it. Yeah, it was. So what else, what are we talking about today, Kevin, on the program? Today we're going to talk about a couple 90 rental that we'd like to look at. And then we're going to take a look at some of these earnings. And then, as I felt today, and if you remember last quarter, Sketch has had a huge gap in the big earnings beat. So we're going to talk about that. We talked about Sketchers and trade Sketchers, because Sketchers is one of those names. It's really interesting to think of when you think of Sketchers, the old, white, older people being active. But they're actually getting heavily into the triathlete and Ironman competitions and sponsoring athletes. So there's things going on. We're going to look at that as well. And Kevin, we got to go. But how about Q-Com and Apple, right? Qualcomm from about $55 up to $82 this morning on that deal. I think that clears a lot of 5G. Oh, for Apple or Qualcomm. Folks, 45 minutes from right now. Kevin, thanks so much, man. We look forward to the program. Thank you, Kevin. You too. Thanks. We'll be right back, folks. 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. In order to make the best decision, the first thing you'll need is a strategy that will help you minimize your risks. Whether we're in a bull or bear market, a good strategy is to have the tools needed to help you scan and analyze the markets before you trade. The Taz Profile Scanner instantly scans and filters over 2,500 global financial markets, such as stocks, ETFs, commodity futures, and forex. 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We're up to as high as 6470 in this contract. We're currently trading at 6421. Just taking a look, Basil. I know sometimes you follow the program, right? We like to take a look at kind of what kind of volatility trades. Maybe you can take a look at prior to this inventory number coming out. We'll jump real quick. The 11AM, so it's nice here, 6421 we're trading that. And so let's see. 11AMs are going to give us an option of 6450. And Basil, what we like to do is get, you know, really where we're just trading volatility, not paying much premium. And that happens when, of course, these option-like spreads line up with the price point kind of right next to it. And it seems like 65 is going to be our option. Oh, no, here we go. Okay, I'm moving a little quick. 6425, we could have exposure to the upside and the downside, which is almost perfect with two pennies away. We're looking at the noon expirations. Our bullish spread runs up $1.50 to $65.75. That's going to cost us about $18. And then the bearish spread is going to be a little bit more only because we're two ticks into the money on the bearish spread from 6425 down to $62.75. So we're looking at about $40, Basil, which represents $0.40 away from kind of, right almost where we are prior to that number. And I'm just going to jump around real quick to see if the 230s give us a price point that matches. And they really don't. So we'll leave it at that, about 40 points. What's your take on oil where we are, Basil? We're at some decent levels. Man, we've been hovering around this 64, $65 market seems for a while and oil just can't fade no matter what happens. So for me, this is very important. I spoke about it yesterday on my show. I was talking about it actually for about a week now. I've been looking at it and I said crude oil. And I'm looking at the continuous contracts. Of course, there are different oil contracts. I'm looking at the continuous crude oil. It's called crude oil continuous contract. It says May 19. But I'm looking at it right now at 6413. So I'm about seven cents away from where you are. Most important is that it's formless rectangle in the daily chart on the left. It's formless rectangle chart. Within the context of patterns, you'll see this oval pattern that I've got here around about this 200-period moving average and then the nine-period, the green moving average and the black moving average, that's the 14-period, ran right through the 200 with the price holding beautifully. In fact, once it broke above, on the 29th of March, once it broke above 5941 was the low, it hasn't touched until three days ago. It hadn't even come back to touch the nine-period exponential moving average. Now you can see the MACD is starting to fade a little bit. It hasn't quite crossed, it's on zero. I said the 0% line hasn't crossed negative and the stochastic is still strong at 84%. And what I had said to you on my show was, this kind of pattern we've seen a lot and it's a pattern that I look at very often in the futures market. You can see overnight sometimes you can have a rectangle formation and eventually if it's after a big move up, you'll find that you come back and you might be able to test the upside resistance. Good chance that you're going to break the lower resistance, lower support. In this particular case, that would be 62.99. Now I'm looking at the region, you're talking about the microcosm just straight off to the gong at 10.30. Now go and say, for me this rectangle formation is saying that Kuro has really had a fabulous move. It's digesting the gains. I would not be surprised. I see it as looking out that if we do close under 62.50, there's a good chance that we're going to consolidate for about a week or so. And on the upside, I see limited upside, although there can be some upside, but I think we're getting to a lot of resistance. So now we can drill down, we can go to the 10-minute chart. 10-minute chart went underneath the 200-period moving average of 64.11. It's up against the 9-period moving average right here at 60. I believe that's 64.19. And there's another one, the 14-moving average at 64.24. And what I've seen on the futures when you've shown the chart after the move, we can have a big spike down and then come back up, and then have a big spike up and then come down. It isn't all that often that the initial direction is the way that it just keeps going. It invariably has this kind of a surprise and then it gets on track for a good part of the trading from 11 till about 2 or maybe in 230 in the afternoon. So this is what I'm thinking. I wouldn't be surprised if there's enough leftover strength that if there is a pullback to the 64.07 or slightly lower level, that there's a retest and it comes back to try it for the 64.18, 64.20 level. But if this time there's a spike and it can go to the 64.30 level, I then think we've raised the level of support because I can see the Dow is trying its best to come back here and they often go together. The oil has a really good move. It very often boosts the stock market for a moment. So I'm thinking that the surprise could be in the end we move to the upside. Okay. It's supposed to, I believe, have somewhere of a build around 7.329 million barrels. So more than 7 million barrel build is somewhere in the expectation that we get. And yeah, I mean it would be really tough to be bearish oil because we've seen some really surprising numbers basal to as in surprise builds over where they thought it would be and somehow the price has traded higher even on research. Can I just define that at least from my thinking? In other words, if there was a build, if you've got oversupply, you should see a drop. Exactly. But if the overall specter is that crude oil is in demand because of economic reasons or other reasons, that could immediately negate the negativity of the oversupply. And that's what's been, I suspect, has been happening now for at least four, five, six weeks. Exactly. And that's what always surprising, right? I mean the fundamentals must be there with oil to be trading where it's at, right? For 65, 67, coming off 48. So there's something going on in terms of the economy, the demand for oil. But it's just intriguing that we've come into this number on various weeks where maybe they're looking for a build of two million barrels. Maybe they're looking for a build of one million barrels. You get a spike of a build of seven million barrels and still the contract rates higher, which is just, I think, speaks to how strong those fundamentals might be behind it, saying, no, no, no, no, no matter what's going on here, it's all about the future and we anticipate that demand. So with that in mind, what would be your immediate thinking in terms of actually putting a position on? It would be tough for me to be bearish because consistently I feel like that trade would be so frustrating. You know, if you're trading volatility, right, you're trading this number, you have a surprise build, you should get paid for that, you know, at some point. Correct. You know, and if you haven't, and I haven't been trading it, but you better be aware that it might, you know, you might need more than a surprise build to profit from the downside. So we will find out, folks. I'll be back in three minutes. Come back. Hi, folks. Tom O'Brien here. If you'd like to get my daily newsletter, 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. 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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. 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. Hi, folks. Tommy O'Brien with Basel Chapman. We get the dial now just negative seven. We've got a little bit of a pop, S&P's flat, NASDAQ in positive territory again, up nine points, trading at 8,009. We'll get the number as they come out. I don't know if the Bloomberg up this morning with Tom away, but we will get that number, but nonetheless, we're looking at the crude oil chart right now, a little bit of volatility on the EIA, and right now we're trading at 64.29. We had spiked as low as 64.14, but as Basel, you had said, it usually takes a few minutes to say the least for this to sort out which way it wants to jump and we'll find out, I'm sure, and we'll try and get that EIA number when it becomes available as well. So for traders, what we've seen in the last two minutes, that range is actually quite wide, right? Yeah, yeah, all things considered, as in sometimes if you get a number and we'll see what that number is, 20 cents isn't too dramatic, right? I mean, you can open up 40 to 50 cents sometimes, right if it is a big miss. But like you stated, just because it might pop 40 cents within a second on that number, it can back it down in the span of a few minutes and maybe trade to negative territory as well. And what's interesting is that the S&P E-mini is trading, it's come off the low, it went down, it had a really interesting session. The high today was at 29.2350, the low was 29.0450. That is quite a move in a very short period of time. 19 points and now we're back to 29.10. And one of the things that I thought was very interesting when I was going through the charts for my subscribers to my opening call is that we actually have more positions than usual. I never liked that whenever I get to a certain number, we get in close to some kind of a top. And the reason is that we start to look at the lower price stocks and we get those. And the lower price stocks are coming in when the big ones are starting to fade. So I'm looking at this and I'm saying, you know, there's a lot of resistance just overhead, yet we've got the cycle, the semis went to all-time highs, the queues have followed, the XLK led the way, that's the tech sector of the S&P. The S&P itself is not that far behind and the Dow is quite a bit further and the IWM is further than that. And we saw last year from 2018 from January that there was the cycle of making tops over the period of the year. So my suspicion is that we're just waiting for each cycle to come in. And the question I had for subscribers was, the headline on my Trader's Corner from the new part of the newsletter that has all the stocks and everything we're looking at was are we just about to bump into resistance for a week, a week, that's the one coming up? Or is this a breakout to the 27,000? It's just beginning with the queues, SMHs and XLK leading and the S&P is quite close. I think that this is a period where we should see some kind of sideways move, at least some kind of rebuilding of energy and we've actually seen that in the Dow. I mean, we saw Kevin spoke about you on a sharply lower and yet you've got some of the stocks in the Dow doing very nicely. Goldman's coming back after being hit. So I think this is a period of, I think we're coming into kind of a choppy period and we'll see what happens. Yeah, this has been some chop today and I have pulled up the number. Tim, do you got to love the one thing about Twitter? If you want fast breaking news folks, Twitter is a great spot for it, it's one of the things. And so, excuse me, here's a tweet talking about, so they actually had a draw basal and I'm trying to get what the actual estimate was because the draw was 1.4 million barrels. So crude oil inventories falling 1.4 million barrels, distillate inventories falling 362,000, gas inventories falling 1.1, the numbers in the actual column here on the screen that I'm showing representing the actual number. And yeah, so pretty interesting that you have those numbers falling. Now I'm not sure the survey number might be what they were indicating but that could be a Bloomberg survey but I don't think that's the median analyst estimate. There's a few things that play into that but nonetheless you do crude oil inventories falling 1.396 million barrels. So yeah, even with the declining expectation it seems like that was close to forecast of minus 1.2 so I believe the 7 million number we were talking about was last week's number that we got. So we have a draw. Let's see, yeah look, it's still stuck in this rectangle formation. It's still alive, it has not moved. 64.19 looking at the chart, so we're basically within 2 to 3 pennies of where we were prior to that number so it seems to be pretty close to forecast and hasn't moved the market too much just yet. Isn't it fascinating that the high of the 9th of April at 64.79, we've had 1, 2, 3, 4, 5, this is the 6th session after an absolutely fantastic move basically from mid-March to mid-April going from the 56.55 level up 9 or 10 points and now it's gone sideways. It did that before, look, it did this consolidation where the oval pattern is background from about the 18th of March to where it broke out at the beginning of April and now it's sideways again and you can see the magnet of this 200 period exponential moving average in the weekly chart which is at, and this is what I was saying there, 65.88, the conclusion is just at this particular point I think we have somewhat limited upside but I do see some upside, just a little breakout from where we were a week ago. But at the same time what this is saying there's 200 period moving average in the weekly with the magnet and sarcastic so strong it says that at worst we should have a sideways choppy range without a breakdown and that's 60.50 level right there moving average that would be major support I'm not sure yet if we're going there but at the same time it does say this is a magnet we could trade in a choppy sine wave move just over and under and over hanging around making the 64 area kind of a fulcrum for the next big break to the upside it's kind of the way I'm looking at it. Nice and we will find out we'll check back in through the hour because it is intriguing sometimes we check back in and it's it'll get a pop at a random time throughout right some they'll figure out where that wants to go so how about Netflix if we could talk about it real briefly Basil pretty interesting to pull up the chart they come out with their numbers last night pretty decent numbers the one thing is their forecast for the second quarter whoops not NFL, NFLX forecast had disappointed to say the least but the market I mean you're basically flat down 1% but it had been as high as 370, 375 we're talking to Kevin Hinks about it pretty interesting that it had that type of volatility in man if somebody really got filled and I think they did maybe right after that news came out 326 that's quite a fill 30 points below where we're trading out right now that was that was pre-opened right that was literally a 401pm last night it hit that 326 that's right yesterday I was I typed into the den that I saw it down $14 yeah and then it started to come back and then it was up yeah and it really I put it even last night I had it and let's just put it on a minute chart just to see how quick that reversal actually was in the first minute it held up there 374 and then the second minute it was the 326 and then it was back to about 342 by the third minute and then it kind of I'm sure that there was volume yes no there is and you can see it on the chart and it's nothing I mean you're talking about 118,000 traded in that big bar if you're looking at Tiger TV that made it down to 326 so there was some action for sure right okay this hour is flying by come on back folks when we come back too we're going to have a special guest Mr. Teddy Kent's Kangstat from Forex Trading Unlocked he's going to be joining us talking a little bit of Forex in this market come on back Basil and I'll be right back in three minutes if you're in the CD market and looking for a secure investment the Tiger First 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to jump around real quick Qualcomm a number man that they are putting up between yesterday and today of course Qualcomm and Apple settling their differences so we get the pop yesterday from about 58 we close out the day at about 70 and we're now trading at 80 to 82 and just close the day at 70 and then there were upgrades so the upgrade today took it all the way to 80 to 52 now to 79 this guy I suspect the spike up there'll be some filling in at the 75 level but it's probably a game changer in some ways so I think how Qualcomm becomes the leader at this point it wasn't yesterday and now it is price wise I'm talking about how it holds is going to be very important and I think it's as I said I think yesterday was a game changer in many ways Intel and yeah I'd say the market agrees so I mean a lot of has to do with the 5G chips and Apple wasn't going to work with Qualcomm they would have had to work with Intel seems to be the consensus that they did not think that Intel was up to that task and I believe Intel came out after the steal after the market and said they were probably going to be getting out of that 5G market that's what I heard yeah and to the upside everybody's up Apple's up Intel's up Qualcomm's up now what's just so remarkable I mean this is up Basil you're talking about basically 37% I put the number their market cap and I had an article up and it was interesting let's go where are we there we got so Qualcomm stock rose more than 20% after the news broke boosting its market cap by 14.5 billion to 84 billion but that is prior to today's move today I just pulled it up and at a price of 7928 this is a market cap of 96 billion so you just went from a market cap of 70 billion to 96 billion overnight 26 billion dollars that is quite a win in court and your market cap goes up 26 billion dollars as a result of it and they said it's going to go up their earnings per share are going to increase by $2 I mean a huge profit because they're going to get a payment number one to kind of reflect the past royalties that they I guess were battling over and then they signed a deal that says we're going to work together because Apple basically said we need this technology and the market love to hear that for sure quite a run it was yes and I'm interested to see how Intel holds are they losing now not by being part of the 5G so one of the things I had heard in there and because that's the first thing I thought right to just come out and resign that fact but I guess they number one very small margins in being in such small devices and they want to focus more on server centers and being in computers I believe where I guess that's and I'm not a fundamental guy within this industry but that is the breakdown in terms of they just found it very difficult to compete and probably competing from a second place role you know to Qualcomm having the distinct leader in that category already and if you're trying to compete with a company that is such a leader in a section of the industry that is so small in margins right that that is a very tough feat some of these chips I was listening to yesterday I mean they take three months to build from start to finish and that's not talking about you know what goes into testing them or going that's just talking about that they take three months to build because they're just so high-tech these little tiny chips pretty remarkable all right with that we're going to jump to some forex basil let's go over to our man Teddy Kakesdat from forex-trading-unlock.com folks you can check out Teddy every trading day over there we interview and talk to Teddy every Wednesday 10 40 in the morning Teddy good morning Teddy I'd like to introduce you to our man Basil Chapman Basil Mr. Teddy Kakesdat how we doing Teddy? so Teddy where are we looking on forex man we have quite a week going on we got rates trading a bit higher what do you have on your radar what are you checking out in terms of forex this week well this week now that we're heading into a holiday week I would say be very very careful if you're not in a position already that you're managing I would say be very careful about getting one on right now because volatility could be crazy over the next couple of days most likely it will not be because Friday the markets are going to be closed or closing you know from Europe and it's you know it's pretty much going to be a three day weekend as far as Europe will be closed on Friday definitely yes so in that regards I would say be careful when it comes to trading any of the currencies right now they're kind of in a holding pattern for the British pound Canada the Yens floating around the 112 area so I would say like right now don't expect any major breakout unless there's some really big news that comes out what you did mention there at the beginning was the interest rates that is one thing I think that's supporting the dollar right now a couple weeks ago we were talking how the carry trade is off the table I think right now because you have the two-year through the third year pressing lows in rates are going a little bit higher on the market side I think that's supporting the dollar right now you know there's no real fundamental news outside of that that would be supporting it right now you know especially with oil on its highs so I think that right now be very careful most markets aren't a holding pattern but we do have the Swiss that is now pushing that you know they've been holding above parity and now they're a debacle one almost you know so that'll be interesting because you have almost a head and shoulders it looks like forming so unless they can take out those highs and maybe get up to 102 I think that we might see that's when we'll see a turn of the dollar but it's probably going to take about another week or so before that settles in and Teddy I just have the site up here 4x-trading-unlock.com folks and you'll see a menu at the top you can click on 4x here Teddy's got a lot of great charts of all these currencies so if you can explain to people what's going on in these charts Teddy as I'm jumping around like for instance we always talk about the Swiss franc I get the Swiss franc up there we got a lot of good action and then we have details going on on the right if you can explain about what kind of goes on in these charts and what they're looking at here okay with those charts they're all fully functional you don't have to log in you just like you said you click on the links and you go on to the chart so you can manipulate those and do analysis from anywhere in the world if you got a desktop or a laptop to work from and there's the news feeds that come in so you have things that come in from stock, twix, fx.com and a whole bunch of other different news sources anything that pertains like on those individual pages for those markets so everything that you see on those news parts there those are all euro related or you know forex related no it's nice and easy man I like how you set it up grabbing all these currencies as we jump around Basil I know you're always looking at forex when you're talking about dollars and so forth did you have anything to ask Teddy about? I do I'm not sure what the answer would be but my question here is that in relation to gold and the dollar where they often move in counterpoint and every once in a while I always say about six weeks or so a couple of times a year they actually move in sequence together in the same direction not the same percentage the dollar has been holding very well we only have about 50 seconds Basil so 97.71 high why do you think more currency related right now that the dollar hasn't actually spiked into the 97.40, 97.60 area but it hasn't broken down either I think it's more the interest rate variable I think that's what's supporting the dollar right now okay so and the cycle of things right now like you have the interest rates that are pushing the higher level or lower pricing higher levels that typically goes first then gold will follow later and that's why I think you've seen that little sell-off and gold is now kind of following the interest rates but on a weekly basis it's about two or three weeks behind the interest rates got it Teddy we always appreciate the interview man we appreciate your dedication have yourself a great week how's that Chicago weather man you know what it was nice and sunny yesterday I got a little talk perfect we're coming into May soon man take care Teddy we'll talk to you next week folks for trading to be one of the best of the best at everything you do in life it's the most common trait that we tigers and tigers share if you're looking to become the best of the best when it comes to managing your money let me teach you to do what managers tell you can't be done which is how to time the markets I'm Steve Rhodes author of mastering 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 to transform me into one of the best at what I do sign up for mastering probability today by clicking on the newsletter tab on the homepage of tfn.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 to sign up today it's amazing to think that Tom O'Brien started his weekly gold report 17 years ago with the first issue published April 7th 2002 when gold was trading under $300 per ounce gold peaked at more than $1,900 in 2011 and after spending many years consolidating at lower prices gold may be poised for its next big run. Tom O'Brien publishes his weekly gold report every Monday morning for subscribers consisting of coverage of the XAU, HUI GDX, The Dollar, Bonds South African Rand as well as 25 different mining equities with specific buy sell recommendations as of April 1st of this year the gold report currently has 8 active positions with an average unrealized profit of almost 8% for each open trade new subscribers get a 30 day money back guarantee so you have nothing to risk for all the details and to start your gold report subscription today visit the front page of tfn.com don't let gold's next big run pass you by, sign up 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 each market day with his opening call newsletter right now you can get a 2 week free trial to the opening call Basil's daily trading newsletter by visiting the front page of tfn.com cancel at any time during that trial and pay absolutely nothing get your 2 week free trial to Basil's newsletter the opening call today by visiting tfn.com this segment is brought to you by thinkorswim for more information just click the thinkorswim banner on the front page of tfn.com welcome back folks Tommy O'Brien with Basil Chapman we got the dial down about 20 s and p is negative by 2, NASDAQ got quite a pop there at the NASDAQ 70, yes 7703 that, NASDAQ 100 excuse me 7703 so Basil real briefly right on the front page of tfn folks check it out the opening call and when you get in there you gain access we talked about it real briefly but I encourage everybody Basil's awesome archive workshops there's three of them in there one of them just from briefly earlier this month an hour and a half workshop and all the information right on the front page encourage you to check it out get ready for Basil's program coming up at noon and with that Basil what are we going to be talking about at noon what's on the horizon I'm going to take a little time I want to talk about the move in the IYT we've been long since 185 187 today but it's leg D we're always looking for that in the week in the daily chart what does it mean with the week in the V shape recovery I'm going to be talking about I do want to spend just a moment on interest rates I don't spend too much time on it but I want to talk about it in relation to where we are so this is important to stop those interest rates not to interrupt you but definitely we just to talk about the relationship at this moment with the dollar yes and it explained it very well why it's just been kind of stuck here so there are a couple of things and then I'm also talking about Chapman Wave methodology because we have so many D's and E's right here what what does that mean in terms of the index so it's going to be very details more like my Friday Chapman Wave the study this is going to be a study good and we won't be here Friday but I know so you're doing your program at noon of course I appreciate you doing the morning show with me this morning and yesterday and I know tomorrow you'll be filling in to wrap up our week so you'll have that opportunity that's right three till four he's going to be filling in for Tom O'Brien folks tomorrow afternoon which is the final hour of the trading week well Basil I appreciate you joining me as always and we look forward to the show at noon today always enjoyed Tommy thank you very much folks stay tuned TD Ameritrade fast market next Basil at 12 Steve Rhodes Dave White all this afternoon stay tuned have a great Wednesday