 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. 927-6648 or internationally at 727-873-7618. Now, Larry Pesevento. Okay, looking good. Billy Ray, feeling good, Lewis? We have on the line Mr. Tom Hougar, Trader Tom. Tom, you've written a wonderful book called The Best Loser Wins and God, I love that title. Can you tell us, you know, how did you, I know you're really busy and you trade a whole lot. Two reasons that we have questions here from our listeners and one is why did you write a book like this and why is it that The Best Loser Wins? I wrote the book for myself. I had spent 10 years on a trading floor observing thousands of clients executing trade and realizing that human beings have a tendency to hide away from pain and pains of losses and pains of arguments gone wrong. Essentially, we have a, we have a heuristic, we have a brain that was designed to survive on the savannas, hondurgalleros, but it's not exactly updated to the 21st century. And I witnessed well educated people, well financed people, well reasoned people, mature people, wise people couldn't trade and they simply could not consistently make money in the market. And I began to really dig deep into this question after I left the trading floor and I started trading for myself because I think I fell for the illusion as does every other trader that enters the financial market, enters into the illusion that trading is about your edge, be it your macroeconomic edge, your fundamental edge or your technical edge, your fibonacci edge, or whatever your tool you're using. But the reality is that that's only one part of the equation because otherwise more people would win. If successful trading was simply a function of more of the same, more people would be successful. But it isn't the case, quite the contrary. So I began to dig into the way that our brains work, not for the benefit of anybody else but myself. But then once I became much more aware of my own shortfalls and how even the most rational thinking man or woman is incapable of trading successfully, consistently. We all have good moments but putting on the winning streak that just basically lasts forever and ever, that is not a question of technical analysis. You don't get really good as a trader by knowing everything there is to know about Bollinger Bands and then Stochastics and MACD and then fibonacci. But the flip side is that you don't get good at trading by meditating all day either. So you really need to work on two aspects of your game. You need to work on the technical game. You really need to know your game. You really need to know the market, whether you attack it from a technical point of view, which I do, which is prize action. But that's not enough. You also need to know your particular weaknesses, your trigger points. And what I witnessed as a broker for ten years, or actually also a sales trader, was that most people had times when they traded really well. In fact, I would argue that most people traded well most of the time. But when they didn't trade well, they actually managed to lose everything they had made with interest. And that was the dichotomy that I couldn't understand. Why are we able to string on a series of 70% and 80% winning trades, and on the 20% of the trades where we lose, we lose everything that we made on the 80% plus more? And I knew the answer wasn't technical analysis. I knew it wasn't in the ratios of 38, 61, 78, 88, 94. You name it, it wasn't found in the GAN. You see, when I look at, for example, the GAN material that spans some 80 years ago, it was under the same delusional idea that you could draw your way out of the notions that governs our psyche. And so he just made it overly complicated, and he sold a truckload of courses, which just had a whole lot of lines. He basically seduced an entire nation of traders into thinking that more technicals are better, and the more lines you can draw on a chart, and the more you can link it to celestial events, the better. And then he had this notion that if we then misguided it into that you could find the secret clues in the Bible, well, then everybody was misled. And so I wrote the book to once and for all, make people aware that actually the true set of stone to trading profits is found within yourself. Nothing more. And then for me, trading is a battle with myself. It's a battle with a piece of software that sits on top of my shoulders that is 100,000 years old. And I don't need to know a standard deviation. I don't need to know how the algorithms work. I simply just have to study the charts. That's the beauty of chart analysis, but it doesn't stop there. Unfortunately, I also have to be mindful of the pressure that the market excels on me. I have to be mindful of when do I need to step back, because I'm simply not seeing things right. And that's the thing that I am grateful that I did experience on the trading floor, because I could see perfectly, perfectly rational people blow away their accounts because they couldn't remove themselves from the situation. A bit like when you are in an argument with your spouse, your partner, your girlfriend, your boyfriend, and you get so engrossed in the argument that actually none of you realize maybe we should just take an hour apart here and let ourselves calm down. And so for me, trading is so representative of an inner battle. And the reason why I am good at what I do is because I spend every bit as much time studying myself and understanding the shortcomings that my brain has, what I call the default network mode, so that I understand what my trigger points are. And I don't think many people are doing that. Everyone is engrossed in the next seminar they can attend, or the next indicator they can learn about, or the next newsletter they can subscribe to. But actually the real Eureka is right in front of you. This writes that on your shoulders. But confronting your innermost secrets is a painful process. And that's why 90% of more people lose, because no one wants to come face to face with your own inadequacies. Wow, that's really good stuff, Tom. I know you're very busy today. I want to thank you for being with us today. How will the folks order your book? I think that Jeff Berthas here might make himself even wealthier if you go to Amazon.com and order the book. Hey, thank you very much, Tom. I want to have you again in a couple of weeks. I want to talk to you about your career at Sydney Index and how you studied how the people lost. I think that would be a really good learning experience for folks. Would you be able to do that, maybe? Anything for you, my friend. Thank you. Hey, thank you very much. I'd like to hear those words. Trader Tom, folks. At the time of booming inflation, we are purchasing powers eroded. There's no better place to protect your hard-earned money than in gold. This, the gold flagship asset, is the Monk Todd Gold Project in the Northern Territory of Australia. This is Australia's largest undeveloped gold project. We are talking a world-class gold project in a tail-one mining district. This is a large-scale, low-cost project with significant existing infrastructure in a politically safe and friendly mining jurisdiction. This, the gold just completed the Monk Todd Feasibility Study, which resulted in a 7 million-ounce gold reserve in a 16-year mine life. All of this combined with the approvals of all major operational as well as environmental permits. This distinguishes Monk Todd as an attractive, devious party, ready-development stage gold project. This, the gold trades on the New York Stock Exchange and the symbol VGZ. Steve Rhodes started his trading career as a student almost 20 years ago, and the student has now become the master. Steve won the prestigious Timer of the Year award in 2018 and barely missed that mark again in 2019, finishing at number two for the year, an amazing accomplishment. Steve Rhodes is committed to sharing his techniques and knowledge with anyone who wants to learn, and he shares his vast amount of trading knowledge every day in his Mastering Probability newsletter. Steve's award-winning newsletter, Mastering Probability, is delivered every trading day with updates throughout the afternoon. Sign up for Steve's market newsletter, Mastering Probability, and you'll receive access to seven of Steve's educational webinars absolutely free. At TFNN, all our newsletters come with a 30-day money-back guarantee, so you have absolutely nothing to worry about. Visit TFNN.com and try Mastering Probability 30 days risk-free today. TFNN Educating Investors. Are you looking for a way to consistently add winning trades to your portfolio? Tom O'Brien is here to help. Tom O'Brien has been successfully trading markets for over 30 years. 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 market's 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. I tried to show you giving my two cents worth why the market turned. As you know, I'm a numbers person. I don't do anything with fundamentals. I know that report was pretty bad today. I could see that coming. I've seen a hard one to see, but the bottom was very, very spectacular, folks. And the reason why is with my computer, with Ensign, I have alerts set up so that if it gets near and alert, the beeper goes off telling me it's time to look. And when that hits that number, whatever it is, it lights up like a Christmas tree. Or, if you like, a slot machine. Either way, it doesn't make any difference. When it hit, my numbers on the NASDAQ, 61% retracing of the low three years ago. All it is is a number, folks. But these algorithmic people, the ones that do these automated trading, they know what these numbers are, because they've studied history. They can see that they hit. Do they hit all the time? No. But when they do, that's what's important. And when you hit one that's exactly like you were on the NASDAQ today, that was spectacular. And at the same time, you want to go to a, I want to show you what it did in the E-mini S&P today, because both of those hit exactly at the same time. And when that happens and the market starts to rally, say, hmm, well, maybe that really means something. I don't know, but you can see here, here was the 1.27 expansion over the last five weeks. You can see it came right in, well, last three and a half weeks. See, it hit the exact number, the 1.27 expansion of this 382 retracement. And then down to this retracement here. Now, folks, let me give you a little tiny bit of a selling of the Brooklyn Bridge shares, okay? If you think this is the bottom of this bear market, just be really careful. And the reason why is, if you'll remember last Friday, we had on the air Mr. Peter Elides, stock market cycles, and Peter's told us that we were looking for something to come down very hard into the market right after the jobs report, which we did. And he also mentioned there was a possibility of a rally right after that. I don't know if you remember that, but he quoted and told you, and I talked about it on the show. I didn't have the information from it until real early this morning, but I knew it was coming. It's from a gentleman named Aaron Brickman. And you just go to Aaron Brickman at AG Brickman, and you'll be able to see the work that he has there. What he's done is he's compared three particular timeframes in the market. One was 1929, number two. And door number two is 1987, and door number three is where we are right now. And what he's basing this on, he's basing it on the lunar cycles. And we had a situation today where the market was supposed to bottom and have a very good rally. But then, boys and girls, after this rally is over, and after this rally is over, Katie bar the door, because Katie's going to have to stand in front of the door. And that's where the real problem is going to come up. I don't know where it's going to come from, and I'll give you my two cents worth of course, but that's what we're watching. Do you remember just a few weeks ago we had that monster 900-point rally that turned out to be 1400 points, 900 one day, and then another 300 or 400 the next day, and then of course they gave it all back. And we made new lows today in all of the indices. Every single one, of course, a NASDAQ making the 618 on the weekly, daily low on the S&P, but that's not the target on the S&P folks, it's still 3175. It hasn't really changed at all. Today's action, I'll give you just a heads up on this right here. Now, when you see, hold on just a second, when you see the 1.27 on this chart, the reason why it's not the actual low of the day is because it doesn't have enough data. I'm just showing you what happened over here. This is a very small timeframe folks. It's only, you know, what an hourly timeframe. Yeah, it's just an hourly chart. And as you can see the 382 is coming down. Okay, but if you did the A, B, C, D, A, B, C, D, guess where you come up folks? 3510. What was the low today? 3510. What was the 1.27 expansion? 3510. You think these computers, when they splice those things up, that they don't say buy, buy, buy, buy, buy. I mean, of course that's what happened and the thing took off like a rocket. And believe me, I was Gene Roddenberry. I was in charge of the rocket ship and I bought it. I think, why bought the Dow Jones? I bought the Dow Jones 50 points off the low of the day. Okay, and let me show you how you can screw up a trade. Okay, let me get this up here because I'll give it to you here. I was watching the two minute and I'll get it up here. Got to show you things that I do wrong. Because if I do that, I can stay on the line forever. Because I do a lot of things wrong. Okay, here was the AI, which was the projected low of the day. It was supposed to come in right here. You can see this was the original low. This was the report, of course. There was your low coming in and if you look to the left here, you'll see a nice little three drive pattern. I bought it right there, folks. And being the quick Fibonacci ABCD guy that I am, I was able to get out at the first ABCD. And by the time my fuel came back electronically, it had moved 100 points. That's how fast it was moving. And then, guess what? My CQG machine stuck. And I found out later that they were just swamped. That the data coming in was just, had just overwhelmed them. And that's what happened. And then, of course, we had to rally. We continued to go up, made new highs. And we took out the highs of the last few days. Now, what we want to be watching and what you want to be watching is what I'm going to share with you next, okay? And this one, I spent a lot of time because I think I know where we are. But then again, maybe I don't. We're going to find out here in the next couple of days. This is Thursday, Friday. We're going to know by Friday or Monday. Get this up here. We're going to show you the chart of the E-mini S&P as we were looking at it. And as you can see, there's your 1.27 expansion to the bottom. You see this number right here, folks? Do you see that number right there? Johnny's raising his hands. Johnny, sit down. Sit down. 3.382 is what that is, of the high that we made way back here at the big Fibonacci number of 42 and change. And that is the one that's really going to do. If we get there, not going to get there today, we get there Friday or Monday. You really need it to get there. If you get there, that's the one that's going to... That's the one you got to pay attention to. So I... Well, I can't share these charts from this man, Mr. Aaron Brickman, because those are his charts. But if you go... Peter E. Lighties won't even share them either. So if you're just going and googling or something, I think his name is Aaron Brickman. You should be able to take a look at those charts. And he shows you what the relationships are between 1929, 1987 and where we are right now, right here. And watch this two-day rally, folks, because after this it gets really bad. And who knows where it goes from there, but that's what we're paying attention to here. So I hope that makes sense. We're going to take a little break here. And when we come back, we'll talk about some of the other markets that need to be addressed because there's a lot of things happening when you have days like today. We'll be right back. To support, sign up now by visiting tfnn.com. Don't miss out on the next great gold trade. Sign up today. Thousands of stocks for Fibonacci Formation setups, including Gartleys, ABCs, Butterflies, and much more. The art of timing the trade charts is designed to help you when scouring the markets for stocks just beginning to form the trading patterns that many investors spend days, weeks, or even months searching to find. And right now we're offering licenses available at only $79 a month. We are so confident that you're 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. Sharpening your skills as an investor is like getting better at playing a musical instrument. You have to practice, sure, but you also need excellent instruction from experts. At TFNN, you'll get advice and guidance from the authority and technical market analysis, and it's not just dry, tedious text either. TFNN airs live financial content streamed live on tfnn.com and TFNN's YouTube channel with Tiger TV, live every market day from 8.30 a.m. to 4.00 p.m. Eastern for free. Each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world. From the moment the market opens until the closing bell sounds, Tiger TV has eight different shows with expert hosts to help you make the right moves with your money. Watch online at tfnn.com or on TFNN's YouTube channel and become the investor you were born to be, TFNN, Educating Investors. 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. Okay, folks, I posted the hourly chart of the Treasury bonds. I posted it here before. I'm going to do it again right now. This was before it happened. We had an order to sell at 1.25.25. The high was 1.25.27. What was amazing was that it hit it before the CPI number came out. So it made 1.25.25 and it backed off to 1.25.17. And I made a video. It was about 20 minutes before the report was coming out. And I said, no matter what this report is, you put your stop two pips above that level, which is 1.25.31 or 1.26. Whatever you want to do, don't risk more than three pips. That's $90 at the worst, $120. I said, I don't know what this report is going to say, but the emotionalism behind this and these markets, the Treasury bond market is many times bigger than the S&P and stock markets and all these things. These are real money. I mean, billions of dollars. And so it hit that number, folks, and dropped $2,500. The same thing happened in Crude Oil. We sold Crude Oil short at the 382 of 77.72. The high had been 78.02. And I did the same thing there. I said, put your stop just a tick or two above that, and Crude Oil broke $2,500. Now, Crude Oil came back and just like the stock market and went screaming above that 382. So that's why when you're risking $600 or $700 on the trade and it pays you three or four times what you got in it, you've got to either book some of it or move your stop down quite a bit. That's the only thing you really can do when you're trading because first of all, we're doing these on hourly charts and four-hour charts, not a weekly or monthly situation. Now, what's interesting about this particular move here, you'll notice this is the 382 on the weekly that goes all the way back to when we were trading at 146. And if you remember, that was another Fed day and that was also a 382 retracement. Folks, no matter what they do, I don't care what China does, I don't care what the Great Britain does, and I don't care what Mr. Powell does. We are in a bear market. It started two and a half years ago in Treasury bonds when they were 176. You all remember that, okay? So that's why. We're going to get a rally. Maybe this thing's going to continue on for another two, three weeks. I don't know. All I know is the overall structure of the Treasury bond market has turned negative and is going to stay negative for many years. Interest rates are going to keep going higher. I don't think they're going to go skyrocketing like we've had here from 3% to 7% for mortgages here in Tucson, Arizona, but they certainly could. Anything that goes up can also come down. The cure for high prices is high prices, and the reason for that is, prices get high enough, it monitors the demand, and the cure for low prices is low prices because you get prices low enough, everybody can afford it. That's why you got to remember that. That was trade number one. The other one that I want to show you could be a very, very interesting one because it's in the news. It's about the British pound and all the trouble that the bank is having over there. I want to get the British pound up to here so you'll be able to see this. This was one that we got whacked on this right away. In fact, I was doing the video on the Hello Operator, on the crude oil, on the S&P, and also the Treasury bonds at the same time I was doing the pound because we sold the pound at the 382 right here. And it had a profit of about $250. And then all of a sudden, the market started to move above the previous high, breaking out the 382. And I said, put your stop in, take the loss, get out of Dodge. I don't think it's going to stop here. And it moved 300 pips all the way up here to the exact 786. Honestly, God, folks, check it yourself. It's an absolute 100%, 78% retracement for the high we made back here eight days ago. Now with this wide-ranging bar like this, we could easily go up and make another A, B, C, D to the upside. But there's also the possibility this is nothing more than a three-day rally and it might stop there. Right now, it's backed off, I think, 30 or 40 pips. I mean, really not very much to even counter anything. In fact, it's almost back to the highs already. So it's telling you that it's still got a long way to go here. So that's a couple of things that we're looking at. We're making new high steer in the S&P here. We got up to 3685. Remember the number we're looking for, folks, is 3735. That's when you want to see it tomorrow or the next day. Watch that number because if it doesn't get any higher than that, and if it doesn't get any higher than that, then, you know, you got something in your quiver or your arrow thing, whatever you want to call it, that'll tell you that's where we are. Can you believe this, folks? We have rallied unbelievable. Well, it's not as bad as it was. The Dow has only rallied about 600 points. Remember the day a few weeks ago when we rallied 900 points in one day? So those are things that they're very, very easy to understand that when they happen, they can happen very, very quickly. Okay. Now the next one we want to cover here in one second and we'll get it up here. By the way, tomorrow our guests will be Stan Harley of the Harley Stock Market Letter. On Monday, we are going to have, as a return, is Mr. Bill Meridian from Cycles Research. He had charts that he thought were very important and I said, if you think they're important, we're going to have you back as a guest and so we definitely want to have him talking to us too. So let's remind ourselves of that. So those are just a few of the things we've got scheduled for this week and tomorrow is Friday of course and then we got next week on Monday we'll have Bill Meridian. I believe on Tuesday or Wednesday we're going to have Tim Boston and he's going to go over these things that we're looking at that told us that we were coming down hard into October and that's the main thing. Now I wanted to share some information from one of my old friends from 1965, Larry Williams when we traded together there at the Clayton Brokerage there in Los Angeles. Let me get the chart in so you can see the whole thing and this is a chart that Larry has been looking at for cycles in inflation and what he's showing here and you know you can't dodge the guy. I mean you got to pay attention to him because he's right a lot and what he's showing on here is look at this. The red line is the inflation and the black line is the cycle. So my goodness I mean look at this see the red line is what the forecast is and this is actually what it's actually done. So we should be topping in here. Will it be today or tomorrow? I don't know but it says it could be topping in here something and sometimes these don't work but that's what he's paying attention to and I think you have to respect someone that's got all the experience that Larry has. Now the next one we want to talk about is another one that's this really when I saw this I said oh my goodness this is really important from my perspective because I look at you know a contrary opinion of you know who's bullish and who's bearish but look at this today here we have people more bearish than they've ever been. Most of people you know 1929 is not in the in the mix anymore but going back all those years I think there's what 50 or 60 years in their decades that this is the most bearish ever that they have that they kept records of. Boy that that in itself will probably get something pretty going the right way. Now I I saw this chart and I find it hard to believe because I know the market's been coming down but it's been coming down very orderly there's been nothing you know crazy about this we're going to take a break 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 give you direction on the key in disease selective stocks and commodities subscribe to the opening call newsletter 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 in stock prices get the opening call newsletter by Basil Chapman in your inbox every day first 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guarantee tfnn educating investors biotech is booming but for how long whether you think the biotech bull has room to run or has run its course trade L.A.B.U. or L.A.B.D. directions daily S.M.P. biotech three times bull and bear ETFs visit directioninvestments.com slash biotech today an investor should consider the investment objectives risks charges and expenses of the direction shares carefully before investing the prospectus and summary prospectus contain this and other information about direction shares to obtain a prospectus summary prospectus please contact direction shares at 866-476-7523 the prospectus or summary prospectus should be read carefully before investing an investment in the funds is subject to risk including the possible loss of principal the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor four side fund services LLC this program is brought to you by vista gold traded on the NYSE American and TSX okay folks I'm going to go back to Woodward and Bernstein you know and we're going to talk about follow the money there's a US dollar index there folks you can see it been up eight days and setting right there at the old 786 we mentioned that in the newsletter that it should be some pretty strong resistance and look what happened today this was up to date folks up until about an hour ago and sell off there's nothing bearish about that chart yet but the fact is that the stock market is really a bull market you're going to get a two or three day correction and then we're going to proceed up now what happened today in the stock market I can I say this with all sincerity and I believe it in my heart these bottoms were made when those numbers were hit standard two or three standard deviations in the Russell the SNP 18 on the weekly chart does one of the numbers make any difference no but when they all flash it does and that's what these folks that have these algorithmic trading things do they have this all about numbers there's nothing about there's they have keywords in there like you know for guys says abortion you know I'm using this as a crazy example let's use it say let's say interest rates short or long for two minutes 30 seconds whatever they do they look for keywords that makes the thing you know move but the most things that they do is they follow these number sequences now you say oh well Larry that's not true well you after you see it day after day you got to say well you know maybe it is true you know all I can do is I can see it over and over again do I make money every day like that no no no no I don't but I follow those numbers and I watch them and when I see them that gives me the edge that I have and that's all I have like Curly says I know one thing and that is I do one little thing and that's Mark said it's Amy equal Theny and that's what I focus on and that's got me to where I am now and I'm certainly not going to change anything any different I want to share with you a really cool picture of what the sequence really looks like when you're looking at full moons and new moons and we've got another eclipse coming up here on the 21st that's when the bottom is supposed to be coming in based on our friends Mr. Bost and also Stan Harley who will be our guest tomorrow Tim will be on next week but this is what it looks like graphically when you see the full moon excuse me this is the new moon here it goes through all the moon nodes it goes over to the full moon will be right here in the middle 14 days the cycle is 27.4 days there you are halfway through and that's when you have the big beautiful moons like we have right now going on now what Alan Brickman did is he went and looked at these cycles and basically what he was showing you is that these cycles are the exact same things happening right now that were happening in 1929 1987 1922 so folks no matter what it is wherever this market ends whether it crashes or not I don't really know I just follow the patterns that's all I do but all I do know is this is going to be what we've seen so far has not even come close to what we did you know back on August the 20 you know it was August the 20 I forget how big I don't remember what day it was it was a 900-point rally and then the next day was another 500 points and that's what made me say that sometime in the month of October we're going to see a move down into Dow Jones of one day that'll be 1.618 of 14 so you're going to see a move of you know 20 2200 which is 1.618 of 1400 and that's the same thing I did with Bill Griffith you know way back in 1987 when he was at TF&N and I was his guest Peter E. Lighties was his guest all the time and Arch Crawford was his guest so you know these are things I remember so I just have to you know show you what I'm looking at so that's what I'm trying to do here is give you a little bit of that oh yeah this is it that didn't happen today and why did the bonds stop right where they supposed to at 1.2525 why did they do that you know why did these others things stop exactly where they should have stopped that's what we're trying to do here but interest rates are going to higher they're not going to change overnight here you know the Federal Reserve is going to be keep pumping that stuff so I hope that's good information for you but that's pretty much it by the way we are moving forward maybe we might have a seminar with Tom Hougard myself and Dr. David Paul in Las Vegas possibility in April maybe and we're going to see if we can work that out it's going to be a Thursday and Friday 10 hour full day trading session and then on Saturday we're going to do some teaching we'll be teaching but Saturday we'll be more teaching and review for the following week and we're going to have some surprise guests hopefully pop in and we're not sure yet it's about 35-40% right now but that's what I'd like to do haven't been in Vegas in a long time and well anyway it doesn't make any difference what I'll have to tell you but that's important okay we got the break coming up oh the scam call just a minute let me turn this off boys and girls ah scam scam from my good friend Mark Douglas he said here my old sidekick would sit right by him I was a wingman he was the he was the top gun when you really believe that trading is simply a probability game concept like right or wrong win or lose don't have the same significance and they don't you listen to Tom Hougar today you know when it was an important day and it was how we acted to it and that's what you really have to do I had a good day today but I could had a whole lot better day I made a couple mistakes along the way took profits a little too soon on some other things but that's all part of the game folks so let's remind ourselves that you know it's not how much money you make it's how much money you don't lose and I want and we have a caller Hi Larry it's Jeff near Philadelphia I I was calling in to thank you actually I had called in the show I don't know a couple months ago or so and asked if you had a way of knowing when it's going to be a trending day that I take a like a reversal trade in the morning that doesn't work when it's a trending day and you said yes take a look at the 30 minute opening range and if the price continues to trend away from that range you have a trending day and I've been using that ever since and it works very well and it worked actually this morning I was looking to do my morning reversal trade but after the 30 minute opening range it just kept trending up and away and I said no it's a trending day don't take that trade and it you know kept me out of trouble so I wanted to I wanted to call in and thank you in person for sharing that that makes me feel good does it come with the cash stipend by any chance Jeff I'll send it right away hey listen when I come to Philadelphia I'll take you to lunch how's that thank you sir I look forward to meeting you some day you betcha we'll be right back for J779276648 Vista Gold owns and operates the largest undeveloped gold project in Australia the Mount Todd Gold project Vista Gold just completed their feasibility study resulting in a 7 million ounce gold reserve Vista Gold has all major permits approved and has retained CIBC capital market assistance in evaluating alternatives and in completing an accreted transaction Vista Gold trades on the NYSE American and TSX under the ticker symbol VGC Vista Gold executing a strategy to create shareholder value you might think that if you want to be successful at trading in the stock market you're going to need a crystal ball after all it's 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Tiger TV that's tfnn.com then hit watch Tiger TV okay folks I'm posting the chart here of the S&P you'll notice here this is the daily chart excuse me the weekly chart our eye on the prize here folks is down there at 31.75 okay now what I'd like for you to look at here is where we were today remember that 3508 hit there was the 1.27 number again showing on the weekly that's when that bell rang at the algo traders just like the Nasdaq that's what caused the rally this rally is nothing folks yeah I know it's exciting it's nothing you know I can go up another two hours or all day today and tomorrow maybe even early Monday but we're going back down if this is the low of the year I have the words of that great Chinese no he wasn't Chinese he was Japanese and that will be Sayonara and I will say goodbye and start using a system that I learned many many years ago it's called hope and pray and you do more hoping and you do more praying but I will give up technical analysis if this is the low for the year lows for the year folks let a lot of people get in this didn't let many people get in this car people by surprise hello operator let's get ready we've got some more things to do got places to go we've got more to do tomorrow we're going to be doing it with none other than Stan Harley this Harley stock market letter and he's good well he's been good and let's see if he concurs with what I'm talking about and we'll go from there so live every day in an attitude of gratitude and may God bless and thank you for putting up with me and listening to me today folks I really enjoy doing this stuff for TFNN website tomorrow with Stan Harley