 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 as always, it doesn't matter where you're at, as long as you're here at the appointed time. The following takes place between 2 p.m. and 3 p.m. So, we've got a market when we came back from the three-day weekend last Tuesday. I said beware of a sideways market that morning the S&P opened at 4152. I think that's what it was, 4150, something like that. We're at 4140 here a week, almost a week later. I don't think there's much going to change out here. The market is in why I have a lot of people screaming at me and emails on a daily basis telling me how the market's going lower. Since they started that campaign, it hasn't. It's done nothing but go sideways and frustrate them. I generally see the market do something after they give up and quit emailing me with their ransom-like notes. Some of them are actually getting a little psychotic. That tells me a great deal about what the market is doing to the less strong in character for the market that they can go so wrapped up on. As I said to one of those today, there is no bull market. There is no bear market. There's just the right side. I guess Jesse said a little bit better. There's no bear side or bull side, just the right side. Eventually maybe they'll be right, but I don't know. It just smacks of the guy out there on the strip down there on Times Square saying the end is nigh or the folks that had the Mayan calendar. That everything was supposed to end in 2005 or something. They gave us another five years and it didn't end. They probably gave us another five years, but everybody gave up listening to them. I don't have any kind of wise and great prediction other than we are in a sideways market. It will continue to do that until it breaks out. Generally in sideways markets you look for the market to fade whichever way the market does break out. After a week or something like this, there can be a lot of things going on. The whole ability to say the market is going higher and lower, there is a third choice and that is sideways. Pretty much what we've had. If you would have gotten my newsletter as you should have this morning, you would have found out that the options were pointing to resistance at 417 on the spies. What did they get to? 416 and almost there? 416-60 didn't quite make 417, but options and predictions continue to get narrower and narrower. That means a more quiet market. I think a lot of people believe that they should come to the market and make wages like they are working on an hourly basis. The market is not like that. A lot of times the market will give you nothing or it will take money from you. Waiting for that big fat pitch is what I do, so I don't spend a lot of time wringing my hands about a market that won't give you anything. I think a great deal of fishermen, if you've got a hurricane going on out there, there's nothing you can do about it. You can yell and scream and tessle your hair. I don't understand the whole thing of not understanding that the market is in a machine that spits out money on a daily basis. As Warren Buffett says, it is a mechanism for giving money from the inpatient to the patient. Sometimes the best thing you can do is sit on your hands. I haven't been pushing either long or short positions. When I do, the risk reward will be there. It doesn't mean I'll be right, but I'll have better risk reward than we have now. I'm unsure what that thing will be that will break us out of this area, but I'm sure there will be something to come along. I haven't listened for a while, but it's interesting. 877-927-6648 We do have some questions, and you can have any question you want today, because there will be probably a little extra time in this show. There's a few things that are interesting to me today, but for the most part, probably the most interesting is that we're in a sideways market. We haven't really had one in a while. Let's see what else we have. I found some patients. You never know. 877-927-6648 As I said, sideways is a direction. That's probably all I really have to say about that. We'll move on to a little history. On this day in 1944, 18,000 British American parachuters are already on the ground at this time. An additional 13,000 aircraft were mobilized to provide air cover and support for the invasion. At 6.30 a.m., American troops came ashore at Utah and Omaha Beach. Of course, two years later, my father would become the first officer in the United States Air Force. That was when the split came from the Army Air Force to the Air Force, a separate thing. I don't know what date that was. I just remember that they did it. They did the officers, brought them in one year A to Z, and the next one Z to A. He was with a W, the first of the last, and was the first sworn in as an Air Force officer, which I always thought was interesting. Other than that, not a lot of stuff to talk about today. I have a lot of questions already coming in. Path at tfnn.com had some interesting questions already in the bin. We've got three or four. Add yours to the heap, but that's it. I'm not going to get too excited. You know what? You've got to learn to be still, I think, or give a lot of money back to the market. Let's get back. 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. Vista Gold's flagship asset is the Mount 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 tier one mining district. This is a large-scale, low-cost project with significant existing infrastructure and a politically safe and friendly mining jurisdiction. Vista Gold just completed the Mount 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 Mount Todd as an attractive, de-responding, ready-development stage gold project. Vista Gold trades on the New York Stock Exchange under the symbol VGZ. Are you grinding in the market, but seeing little to no return? Or are you a successful trader simply looking to make your job a little easier? Learn to take the path of least resistance with David White's powerful trading newsletter. 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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. 4-8 internationally at 727-873-7618. And as we return, we've got lots of e-mails. Be like the rest of the gang, the cool kids, and email me at path at TFNN.com, or be extra cool and call me at 877-927-6648. Okay, so question about XOM from Hector. And what do I think? It's kind of weak up here. It was kind of weak up on Friday. I think we're probably hanging out at some fairly decent highs that will need to consolidate. But unless we see a change in probably both the Senate and the House, we're not going to see much of a change in the policies that have created extremely high crude prices. And I know some people will not agree with me, and they have the right to be wrong. But why it is a global commodity? There is a huge amount that has been cut off. We're always needing to add additional supply. And if we wanted to drop the price by, let's say, $2, let's call it a buck, a gallon. Right now we could do it tomorrow by allowing the Canadians to export almost two million extra barrels a day. But they call and they get the busy signal. So we are doing, you may believe that that policy is correct and you can debate that after four o'clock each day. But all we're talking about is higher or lower. And if you are committed to making less supply, the price will go higher. And right now I think you have to be delusional to not believe that that's exactly what's going on. Now, we know why everybody thinks that they want to do that, but it kind of makes me think of that song was a Kenny Chestnut. Everybody wants to go heaven just not now. Everybody wants less global warming. They just don't want to pay for it. And I think we'll probably see some changes above that in the future. Eventually you just can't take the kind of political pressure that will come to bear. I mean, it changes that last week. Of course, we had a deal for all of about five minutes with the Saudis for additional production. Kind of sad to think that we have to depend on the kindness of strangers and even worse, third world despots when we could basically do domestic production and greatly alleviate a lot of the what is a confiscatory tax, especially on the lower income folks in the United States. But I guess not everybody sees it the way I do. But anyway, as far as I'm concerned, if you've got something like Exxon, which are producing oil wells, you're on the next thing to have a monopoly. I don't know why you would want to get rid of it, but that's something that. Dedicated and committed. Yep, there is that. So I don't see if you've got I'm not big on the oil. Going out of the those that don't have production and those that are out there trying to drill or create any kind of new. We're making monopolies out of anybody that actually has production today and production in the near future. So it is kind of a tale of two cities, eight, seven, seven, nine, two, seven, six, six, four, eight on a similar note. Can Martin wants to know, can you comment what you think the stock market would happen in short term two or three weeks and longer six months if the price of oil and if Ukraine and Russia conflict came to some kind of peace agreement for us. The big problem is that all these big oil companies, especially most of them in the U.S. or England have pulled out. I don't know if they would come back in or how long it would take them to get back to helping Russia. So Russia is probably going to be down for probably I'm going to say five years. Even if they made a deal the day, I don't think we're coming back in there and fixing their oil wells because they're just going to use it to create more cash to start more wars somewhere else. At least that's where I think everybody's head's going to be. So I think it's kind of problematic. We need so I'm not thinking that that changes it as much as you want. I think the big thing in the long term would be drilling everywhere possible and finding every kind of technology to bring oil to market. And we in the United States kind of let it for a while. We're now actively discouraging any of that. So again, two to three weeks everybody probably looks at it being better. Long term. We need unless you have both the House and the Senate go to some kind of supermajority. I don't think there is a change in the trajectory of oil prices in the U.S. at least. Also can you comment on major semiconductor foundry to be operating and functional in the U.S. There's nothing that's going to be the size of Taiwan anytime soon. We basically the EPA chased all the many of the manufacturers out of the United States and other than Intel who has some special dispensation for making a lot of the products that we use in the military. They wouldn't be here either. One smaller foundry up in I want to say in maybe Michigan or Wisconsin. I can't remember which one it is. I wrote about it in the Tech Insider a while ago. They're starting to do more stuff especially over the last I'm going to say two years as the chip shortage kind of came on. They are working on making the most important chips for the U.S. military. But that's about it. There's been more discussions. I know the Taiwanese shipped when I'm talking Taiwanese. I'm talking Taiwan semiconductor shipped a bunch of containers from enough for a full foundry. I have not heard a word nor has anybody said anything what happened all those containers where they're at and what they're doing. They were going to somewhere in Arizona out in the desert. And I don't know if there's some special dispensation for them getting started over here. But that's about it. Right now no one's really talking about building something new and you can't even get silicon wafers for the most part. So it's hard to get real optimistic about that. Any time soon and it's a it's policy will be back in. 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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In this live webinar Tom O'Brien will be teaching you his entire trading system including quality volume, ABC structures, Fibonacci Confluence Zones, Cause and Effect, Swing Points and more. We will be limiting this class to 40 attendees so please do not delay and reserve your seat today for this special live event with Tom O'Brien. All attendees will also receive a physical copy of his book The Art of Timing the Trade, an $88 value, mail to you along with a free month of his daily newsletter market insights a $169 value. For all the details and to reserve your seat today visit the front page of TFNN.com. 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. As we're back another question about ERF which is Interplus. There are again development of crude oil and natural gas in the United States and Canada. They've been kind of drifting up here. Kind of looks like it's probably close to making the end of another ABC higher. Doesn't have a lot of short positions in it so I don't know what you want to say there. Again, like I said probably the easiest solution for US to drop its oil prices is getting both crude and natural gas from Canada and that could happen very quickly but at least no appetite right now on that. I think some of these folks like this company are front running the thought that eventually that will be it and everybody will submit to political pressure to drop the price of crude but I'm not so sanguine after the deal blowing up last week in the administration's face with the Saudis and that deal's all over already by the way. We've gotten not a drop out of the SPR so it's very hard for me to be realistic and think that anything there is going to be significantly different. So I just watch it I think maybe like I said I'd rather be in somebody with production than somebody in exploration but doesn't look bad just ending a ABC or rather large ABC kind of up. Other things going on here questions about where the UVXY is going. My guess is to Splitsville. Almost always this thing splits somewhere around the first of June I mean yeah from first of June to somewhere around the first of July I haven't seen anything I just did a search during the break I haven't seen much but these things tend to go down to about ten bucks and then do five to one or a ten to one split versus split. So we'll have to see what it does on that but my guess is that before the market really breaks we'd have to have some kind of surprise and I don't see much of that kind of surprise happening other than maybe we go down so slowly in the market this thing still goes down to the $11 figure of the April 12th but it looks okay but my guess is that we're probably in some kind of range bound market which is not good for this until maybe the 4th of July and then we may have completed some kind of weird and bizarre B to C leg before we get the C to D leg lower in the markets. To do what else do we have here more questions than answers but anyway oh that was a UVXY another question about TLT it was pretty surprised that TLT didn't go up and try 121, 121, 122 it got close 1,174 so I was off by a buck but I thought it would go up and probably try to wash some folks out the good part is that you're back at the previous low and volume so far today is fairly light 1,1262 on May 9th with 33 million shares you've got about 14.5 so you're pretty close to some support the energy was a little bit much on this big gap down on the 31st of May but other than that it's been fairly quiet so we'll know when you retest that May 9th low but you're into that candle today and there isn't much left my guess is that you're probably like the rest of the market going to find this thing going sideways maybe a little bounce off that 1,1262 low okay see what do I think about HYG I don't think it tells us that much I think again we've had a market that was probably too dour probably now a little bit manic and we're now trying to settle in some kind of real price and price discovery in the market but kind of down on the lighter volume today again I think a lot of this stuff is just going to go sideways and without I think we're probably going to need some kind of big surprise to bust out of this range before the July the 7th okay and we got that we got that we got that now on unlighter news Amazon did split today the chart really makes it look like it wants to go to this double gap and that double gap would be about 136 137, 138-ish back here back here and that's where if this thing is making a bigger ABC on the way down would be the low risk reward point could it fail here right now there were a couple of bills that affected stocks that are going to become law in New York on Friday I wrote about them in the tech insider this morning and an update one affecting another company and one affecting Amazon it's more about the workers and some other stuff going on in the unionization efforts in New York City but that's kind of happened across the country and I think that's going to continue to weigh probably on Amazon as I said a year ago there was a reason Bezos was leaving and that was the easy times are over and the heavy lifting starts now in Amazon as a big company that will probably have to be under pressure to do things more traditionally like labor relations the one thing I thought was very interesting is how hard they fought this bill on quotas for productivity at the same time saying that they had no quotas so thus protest too much I think for Amazon but I think still you could drift up to 138 that would be if you're thinking bearish the part where this would be a fairly decent good risk reward to the downside 877-976648 okay and the market is kind of thin and wispy here okay got another one Greg wants to know where I think the trading range is I think it's 4,090 to 41 probably 65 67 something in that neighborhood it's better on the spies because I see the options in them but yeah there's I think any kind of soul pop gets sold and shorted dips get bought and that's kind of until we fight it out with a real bear bull grudge cage match grudge cage grudge cage match it's not going to be over but these things do go on the thing to do is not get too hyped up one way or the other let the market wait it's going to go right now I don't are you in the market for buying or selling real estate in the Bay Area including the surrounding St. Petersburg Tampa and Clearwater markets Tiger Real Estate LLC is a firm that has extensive experience in the Tampa Bay Area whether you're looking to sell your current property for maximum value or you're in the market for a second home or investment property Tiger Realty has the experience across all areas of real estate in the Tampa Bay Area to help buyers and sellers make the most informed decisions across all price levels from the price you should be paying per square foot in certain up and 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If you trade China A shares now may be time to take a closer look trade CHAU or CHAD directions daily CSI 300 China A share bull and bear ETFs China A shares in either direction visit DirectionInvestments.com today An investor should consider the investment objectives, risks, charges and expenses of the direction shares carefully before investing The prospectus and summary prospectus contain this and other information about direction shares To obtain a prospectus or summary prospectus please contact Direction Shares at 866-476-7523 The prospectus or summary prospectus should be read carefully before investing An investment in the funds is subject to risk including the possible loss of principal The funds are designed to be utilized only by sophisticated investors such as traders and active investors Distributor Foreside Fund Services LLC This program is brought to you by Vista Gold Traded on the NYSE American and TSX under the symbol VGZ A question from Robert about streaming anything going on here Netflix's big cheese at least over the last week I don't know what season they're on but Ozarks is the big winner on streaming services these days Volume is rather poor for everything else from what I could see A lot of the big ticket stuff that a lot of people thought would be the key to getting eyeballs on streaming services Like Obi-Wan and the others are not attracting a lot of viewers I haven't watched Ozarks, maybe somebody in the den has seen it or something I didn't know why I just didn't get into it And I don't have Netflix, if I get it maybe I'd watch it Apparently it's become the same kind of thing as the sopranos was Everybody really really loves it, maybe it's that good or maybe everything else is just that bad But apparently everybody is really getting into it I watched the last episode of Obi-Wan and I don't know what they're thinking I have to say that I think that all they did was take the same script from the last Jedi And decided to turn it into 10 episodes The last, I'm going to say last fourth of it, last third of it I laughed through, it was so ridiculous So I'm not a big fan of what Disney's doing to that On the opposite side, the Mandalorians probably the only reason to have Disney At least for me That is, I'm going to say 10 times better than Obi-Wan Just I don't understand the whole thought of making something worse And paying $4 billion to buy it and then just continually make a poor product But nothing's good has happened for Star Wars since Disney bought it And this weekend's episode I'm going to say dumpster fire comes to mind 877-927-6648 Anyway, on Netflix, all of these companies are starting to get discounted There's still over 600 series in production I don't know, you're going to have to have some of these companies go bankrupt And I'm not exactly sure what's happening on that front But you know, at least it's not going down I think it's the best thing you can say about Netflix at the moment And it may take another year for these streaming services to turn around I think a great deal of them, Netflix in the news, actually saying that they're killing some of the series that no one watched Or things that probably no one was going to watch And that is probably a good thing long term for Netflix I'm just wondering how long that takes to filter down into the earnings report But cutting production by about a fourth And like I said, there's 600 shows You couldn't even watch them all if you did it 24 hours a day So it's very tough to see how that's going to do The last thing I really liked on Netflix was Cocaine Cowboys I think it's still on there, like I said, I don't have it anymore But that was probably the best thing I'd seen on Netflix in a long time And that's the Miami version of Cocaine Cowboys I remember being, I think about 1986 and being down in Miami watching the powerboat races And I had no idea that 30 years later I'd be watching a documentary about the biggest Cocaine smugglers in the world And those are the people I was watching Very interesting I thought that was much better than any of the other stuff Serialized stuff I'd seen in a long time Still like it 877-979-276648 Bosch is really good I'm not, I don't know about the Bosch legacy You could really see a lot of these times You can see when they change series that it's successful But they want to cut the price of production downs and make a few more series out of it A couple more seasons out of it And Bosch legacy you can see where they were really cutting prices And I mean it's pretty obvious you look He had to go to some other place instead of the house that he had before They bought it for a day and ran two things out of it It got rid of a lot of the other people that were part of the ensemble cast And that's always the hard part of it Special effects are poor on it The story is still pretty good But they're still trying to cut costs on it And that's always problematic Yeah it was, Bosch legacy is not, I like most of it And maybe I liked it because I read all the books So I know parts of the stories in there You could really see that they drop prices I mean they drop the money and the production value on it Well I probably still watch it, yeah But now the first seven seasons are great Okay what else do we have out here Let's take a quick look at Disney I don't think anything is moving that much today And down just a little, no volume Again I don't think there's a lot going on In these questions about Microsoft MSFT, it had a nice bounce this morning Wasn't surprised that it didn't stick It kind of went up and made a nice high You had a nice wide ranging day last Thursday Friday, a doji day And today just kind of trying to get a engulfing here on that doji But not much, but yeah I think it could get 265-ish again Maybe 260 And maybe it's getting ready to make a little bit of ABC up But there isn't a lot of juice out there in that Other questions coming out GDXJ Take a quick look GDXJ Okay You've kind of come up Against a weakening background Background of lower prices on gold People still want to be in it And to me the big money on this is not these slow moves up and down But fruit and energy will top out at some point And when that does I think it's time to go in deep and on cold Everybody's kind of in that at the moment as a safe haven And that starts pulling back I think gold is really going to get ready for its next ABC up I do not know what that is, we'll be back in a minute 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 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Volume drastically decreased on Friday We're probably doing a little bit more than that now We're doing about 7.5 billion shares We came in with just under 10 billion shares for Friday So is there a little more juice here today? Yeah, but it's not a whole lot And I'm not seeing a lot of other stuff going on here That makes me think that we're either going much higher Or breaking to much lower prices A whole lot of nothing And both the up move and the down moves When they've come quickly today have been on light volume So I don't see a lot of edge one way or the other Just kind of a listless, windless trading And again, as I said earlier It's all about Warren Buffett said The patient, money flows from the patient Or from the inpatient to the patient And I think we just need a lot of patience As we go through the next, maybe day Maybe it's a couple of weeks But if you're thinking short and the market's going to crack The more I look at it, the more the way these markets are firming up I think maybe you have the B to C come in Maybe July the 4th So just make sure and don't get too ahead of yourself Sell when you can, not when you have to We will return tomorrow Building wealth trading in the stock market seems impossible to most people