 The following is a presentation of TFNN Trading Hour with your host David White. Call now toll free at 1-877-927-6648 internationally at 727-445-1044. Now, David White. And welcome all to another excellent edition of the Power Trading Hour with me, you're my humble, lovable, squeezibly soft host. The following takes place between 2 p.m. and 3 p.m. Well, we opened up today. I thought we'd roll over. I wasn't very bullish. I thought the best they could do is hold the market up the first couple of days this week. So I was going to add a lot of short positions again on Wednesday. We'll have to see how today turns out. Anyway, up about 15 points earlier in the morning, right after the open, down about 20. We were down about 30 on the S&P cash. And again, if you're selling your funds, expect the worst price of the day when it does get sold. We suspect that we have some fund selling, so what they call outflows. And we brought up that reason, I think, Thursday and Friday. And it just seemed like something would probably have to happen. If you've got an extra 8% taxes due this year, because you're in a miserably high tax state like California or New York or New Jersey or any of the rest of the confiscatory states that believes that the state is above all individuals, they mostly think that way, at least the way I believe, I think they think. Anyway, if you're in a massively confiscatory tax state, you don't get to write that off anymore. And this is the first year that a lot of people probably woken up to that. I'm figuring there's got to be a little selling for a little while. And of course, probably an exodus to more states. We've already seen a lot of people move into Nevada, Texas, Florida. If you want to stay up north, you can go to New Hampshire. But the escape from high tax states, probably just starting. But you never know. But I think the impact on the market, I've been thinking about it like this. I asked Steve to call his buddy at TrimTabs. Maybe he'll have something on that tomorrow. I've been speculating that on Friday. But I thought maybe they'd hold this market up. But anyway, don't be surprised to see them push the market a little higher at the end of the day because there'll be funds that have to sell and some that have to buy. And generally, the thing to do if you're in a fund is make sure that the people that sell get the worst price of the day. And your fund gets to buy at the high of the day. Don't ask me why it doesn't really favor individuals. Somehow I have a feeling that they really don't respect their customers. But that's the way it works. But I think this could continue on. And of course, if you don't have a very good start to March, this could continue on through April 15th. Although it's a little late, isn't it? So maybe the 10th, 11th, you could have some kind of weight on the market for tax selling. We brought up something else on Friday. And right after the bell, the news actually hit. We'll be talking about that after we do a little history. But that's it now. We've been chronicling, or maybe the last two weeks, incredible light volumes of so many individual stocks. While we don't have light volume today, we're doing 4.9 billion shares as we start the day. So there was some volume. We did go down and test the previous low, which is just about from last week, which is just about four points lower than we're at right now. So the question is, do we close above or below 27, 78, or about four points higher? You got fund buying. It's not going to be the instant rollover and turning into a burst of flames. But I think by Wednesday, any of that money that was here to buy is probably going to be used up. So you've got probably a little bit of bias that is going to go away. So if this continues to do best, go sideways, probably in for a wicked march. What is it? March comes in like a lamb. What's that saying? I can't remember it right now. Someone's got to bring it up. In like a lamb, out like a lion, is that it? Or in like a lion, out like a lamb? I can't ever remember that. Comes in like an emu. OK, I don't know about that one. Goes out like a taper. OK, we've got our engineer who is, I guess, thinking about doing stand up. But you never know. Get me call 877-927-6648. Email me at path at tfnn.com. And of course, you can always put a message in the tent. The history repeating. On this day in 1977, the first Cray-1 supercomputer is shipped to Los Alamos. National laboratories in New Mexico. The supercomputer, which costs $19 million, will be used to design sophisticated weapon systems. System is a cylindrical tower, seven feet tall, nine feet in diameter, weighs about 5.5 tons. The machine used so much heat that it required built-in, pre-on-based refrigerating systems. It required its own electrical substation to power it at a cost of about $35,000 a month. And yes, everybody needs a Cray. Now, my first interaction with one I heard and read about them, lusted in my heart for one. Me and Jimmy Carter, both. And we had our first interaction around 1985. I want to say it's 1985, 86. Went downtown because the IRS had bought two of them and they were having its Bon Boy party. But they decided in their infinite wisdom to hook it up themselves. One of the towers, one turned on, instantly melted because they didn't hook up the liquid nitrogen cooling to one of them and instantly destroyed one. I think it was about even then was, I don't forget, millions of dollars. But kind of interesting that the way that they were all set up, you could put them in the middle of a room and a lot of people wouldn't think about them. Later, when I started hitting the road and going to all the different places, it was amazing how many Marriott's and high-end hotels had sitting areas that looked almost identical to the Cray system if you ever see a picture of them. It does look like you could see something like one of these in a mid-70s, 80s hotel or convention center. And I think that some architects thought and said, you know what, I'm going to put those in. It's just kind of a space age-looking thing. And we're in there. But I got to watch one melt in about five seconds and go up in a magic puff of that white magic smoke when computers go bad. Craying bad, breaking bad. There's got to be something in there. Maybe our new stand-up comedian can come up with something. Be back in a minute. 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. 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Hear all of the TFNN shows, plus see all of the charts as they happen live and have access to archives of all of those charts. You can test drive The Tiger's Den absolutely free for 30 days and greatly enrich your knowledge of these markets and how to make your money work for you. Details on The Tiger's Den are on the front page of TFNN.com. TFNN has launched our brand new website. You can still visit us at the same TFNN.com URL, but when you do, you'll see a new and improved homepage with a much simpler navigation, whether you're watching Tiger TV live in high definition or just accessing your newsletter subscriptions. We even have new pricing in six months and yearly options. Check out the new TFNN.com now and experience all the upgrades. TFNN.com educating investors. Call now toll-free at 1-877-927-6648 internationally at 727-873-7618. We left on Friday, we were talking a bit about malls. In fact, we had someone in that leasing business email in on Friday to correct me, but just a lot of times it's kind of funny that you can see in the charts that there's some bad news coming. Stocks are already starting to act to it even though the news not out, but I think this came out about six o'clock on Friday night and a retail apocalypse part due after the bell on Friday night. When we saw major changes, Gap, JC Penney, Victoria, Secret Footlocker, all announcing massive closures for the year. Total death of more than 465 stores over the last few days. Some pay less shoe stores, some 2,000 locations gonna close. And I just don't think it gets any better, which puts a real problem on retail locations. Maybe those will go back to being the, kind of maybe they'll make them into condos where all those places are sitting now, who knows? But I don't know, is the thought that brick and mortar never comes back or certainly doesn't come back or all they all just gonna be food courts, which at least everything around our area is turning into another Subway, another Starbucks, another food, stuff that you literally don't want coming to you in an Amazon box. But I thought that was very interesting to see that after the bell on Friday. You can give me a call at 877-927-6648. You can email me at path at tfnn.com. And of course, as always, you can put a message in the den. So let's go ahead and start looking at some of the stocks. Now the one that scared me the most this morning, when I was looking at it, was the IYF, just because generally when this thing looks rather weak, you're in big trouble. And this one is, when you wanna talk about light volume or light energy off this December 26 low, the IYF has been it. And the last two weeks have been horrific for volume. You did get back into the December 3rd high, that was 129, that had 640,000 shares. You got into it with 435,000 shares. So it wasn't quite half the volume at the high for Friday, but man was the energy significantly off. I've got a 1.9 on the way down for that December 26 low on my power law vector indicator and a 1.3 on the way up. So energy was off by about 40% as we went back higher. So, eh, gonna just kinda look at it and keep an eye on what's going on and not suspect that we don't have some kind of problem that we just haven't been able to diagnose just quite yet. We'll go through the rest of them. When we saw Adobe and some of these other ones, we've been talking about these for a while. ADBE, just up here on nothing. You were looking for something about for 8.7 million shares. That was the October 13th high. 261.89, you got into it with about half that volume, went back retested to low on December 24th. That was a test of the previous low of November 20th. That was a 6.2 million shares, the 3 million shares. So you had a great setup to buy Adobe and then you had nothing all the way up. In fact, it got worse in the last week, week and a half. You got the rug pull today, got up to 267. And instantly reverted and blown away everything back to the 11th of February now, where everybody was just kind of drifting up into these previous highs, but certainly there was a level of euphoria in this market and certainly that continues. Again, I'm not so surprised that we don't get at least some kind of dip buyers out here and especially in the funds, they'll sell in the morning and they will buy in the afternoon. So don't get too far ahead of yourself on the end of the market being here any time now, but it will continue to be problematic, I suspect, for the next few days. I don't think the selling is over. Other stocks, again, we were talking about all the mall closures. You had a fairly decent test of a Cromby and Fitch. That's the November 29th high, $22.17, 27.4 million shares. Got into it with 1.7 million shares yesterday. And of course, now you get the reversal today. Volume is not quite picked up yet, but again, off this December 24th low, the energy's just been wispy at best. See what else we have out here. Breaking previous lows, the Sigma, today busting through the December 24th low. It doesn't have a lot of volume, but it does look like you could go back to this next previous low, which is 163.97. Low of the day was 171.46. Another six or seven points. Once you get there, you also get yet another low, which is the March 13th low of last year, and that was 163. So this looks like it's probably, in my guess, you've got the volume the other day, 163.02. Not a lot of juice here. It may stall out for a while, but I don't think there's anything worth buying until you get 163 level. Again, we were talking about some of these property companies, and if you're in retail, or not retail, if you're in residential, things look fairly good. If you're in retail properties, continues to be problematic in a lot of places. Camden Property Trust is going sideways today on no juice. CQP, which is Shineri Energy Partners, certainly did break higher on Thursday at the volume. Couldn't hold the high, and then you got a reversal on Friday and another one today to go back and fill the gap up from last week. That was 27th, but again, I just don't see a great deal going on here that makes any sense. We talked about how most of the railroads were up here on fairly light volume. They're down just going sideways. While we've had kind of an early warning, I suspect, on some stocks today, there are some others still hanging up here with little or no juice. Pushing up a little bit on CSX today on two million shares, but again, that's going back into this 8.5 million share high on December 3rd that we have out here. Fitbit, also another one that's got volume at high, just didn't have the energy on its way up, kind of rotating off a lot, but again, those at best look more like they're in a trading range than anything else. Four-scout technologies did break above the previous high, but did not have the volume on Friday. Needed two million shares from the September 21st high at 41 bucks, up today on 600,000 shares. Kind of did that, but again, kind of another little warning sign on a lot of these stocks. Energy was a little bit better on this one though, up from December 24th. We shall be back. I shall return. Path of Lease Resistance is David White's daily trading newsletter, and if you're looking for active trading ideas, then now's a perfect time for a 30-day free trial to this powerful daily trading advisory service. David uses his years of trading experience to offer his subscribers his trading ideas each morning in his Path of Lease Resistance newsletter. Using a combination of equity trades along with options, David keeps his subscribers up to date with all pertinent market information with intraday afternoon updates when warranted. Don't miss out on this great chance to get a 30-day free trial to David's daily newsletter, The Path of Lease Resistance, with no obligation to pay anything. David has been delivering solid recommendations for his subscribers recently, and if you'd like to see the type of newsletter he delivers every morning, then visit the front page of TFNN, and you'll find the Path of Lease Resistance under Trading Newsletters. For all the details, and to start your 30-day free trial today, log on to TFNN.com now. 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. 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Sign up for your 30-day free trial to my daily newsletter, Market Insights, by visiting the front page of TFNN.com. Well, go get them, folks. TFNN is excited about our new software charting program, The Art of Timing the Trade Charts. In collaboration with Tom O'Brien and using his best-selling book, The Art of Timing the Trade, your ultimate trading mastery system, David White has programmed an outstanding piece of software that will complement any trader's methodology. Using this first-of-its-kind program, The Art of Timing the Trade Charts allows you to scan thousands of stocks for Fibonacci formation setups, including guardleafs, 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 gonna love this new charting software that will even give you a 30-day unconditional money-back guarantee. Don't miss out on this incredible new piece of software. Get your copy of The Art of Timing the Trade Charts today by visiting TFNN.com. This segment is brought to you by Think or Swim. For more information, just click the Think or Swim banner on the front page of TFNN.com. ["The Art of Timing the Trade"] And we're back. Adobe's another kind of a big drop-off here, big reversal on a handful of these big tech stocks we've gotta keep an eye on those. Anyway, this 161.89 high on October 17th with Adobe, I got tested, that was 8.7 million shares, got tested with 4.3 million shares on December 3rd. It got back into there with no juice, as we said last week. Big reversal on that, down on 2 million shares so far. But my guess is you're probably gonna see at least a few people try to buy all these dips. Other stocks out here that look problematic. Harley-Davidson going through its February 18th high, that was $37.65 with 2.6 million shares, did pierce it today to $38.22 so far, 1.2 million shares. So again, just even this morning when everybody was trying to run everybody out, there just wasn't a lot there. Now I do suspect that a lot of people did short on the way down and now the market will try to run those guys out. There's a good part of one of the Harrison Ford movies where he's, the clue to getting the goblet is only the pentamin will pass. And generally if you're talking about a very great or big downside for a market, it is almost impossible to hold a short position at the highs. They make it absolutely painful and it also becomes the most profitable. Back to the biggest trades of all time. Number one, inflation adjusted is the short of 1929 by Justin Livermore. We made about $300 million. The short of natural gas in 2006. And I'm sure it was painful for all, but that's it. What else do we have? What was that? The Temple of Doom? Was this Temple of Doom? I don't think so. The question for the holy grail. Can't remember what that movie was. And Sean Connery in it though. Remember that. Oh, we already looked at the IYF. Want to look at some other ones. Shake Shack, talk about another reversal. This is an IPO. I never understood it. Didn't think it was much different than CMG, although CMG is starting to recover somewhat. You did get into the previous highs. Volume was a little bit better on Thursday than you would think, 1.2 million shares. But again, just not a lot of energy on the way up. This one doesn't look as bad as the others though. Target had gotten right up to its resistance level, just going kind of sideways today on much of volume. But going back into the gap of November 20th, that gap down on 21 million shares. On Friday, it had 6.8 million shares. Today, you got 4.4 million shares. So still problematic. Trimble navigation. To see if I got some email. I think I got a couple here. We'll get into those in the next segment. But you can email me too. Trimble going through a couple of its previous highs. You wanted something like 2.4 million shares. Again, not a big turn on these just yet. You went to a higher high today, $40.80. You only have 500 or 544,000 shares so far. So still problematic. Some of these other retail stocks also look still very bad. The gap lower on earnings on the 12th of December for Verra Bradley, similar on that as VRA. You're back into that gap. So 2.4 on the way down. Friday, 159,000 today, 94,000. So talk about thin. There just aren't a lot of people diving in. One of the stocks that did break out to higher highs and did have some volume when it did it was an IPO that I kind of discounted. It could have had more volume. It at least had the same. But it says Yeti Holdings, the cooler manufacturer. I still doubt them highly, but it is held fairly well. Could look at this one as a reversal signal today. It's not expensive enough for me to short it though. So that becomes problematic. But a lot of those questionable IPOs now, probably in the next few days going to be under a microscope. Anyway, we're at 2785 on the S&P cash, which is off 18, which sounds like a miracle because of course we were off 32 and the market just doesn't do that. It just gives you money every single day. All you have to do is put your hand out, take it. Just be long. Just put your hands out and collect all that cash. And you got to make sure that you hold. No selling now. None allowed. What else do we have going on? Questions out here about Microsoft. As I said, Friday and Tom O'Brien show. So they still are coming up with new and inventive ideas and Apple is not, which is why they are in the cat birds seat these days. You could look at this as a little bit of a reversal signal, but not quite the one I think that you're looking for. I kept on thinking that you could get up to 115.72 as the leader in the market. Maybe that's what they do in the next couple of days. They just pushed this up, hit a few people that are short this stock because it's always been hated. Man, I remember this stock in 2000, it was hated. It was hated in 2010. It's hated in 2019. There are a lot of people that just hate Microsoft and I don't know why. I think it's the equivalent of buying a car from General Motors and you never change the oil and the car blows up. And so you always wanted to go and say, you know what, General Motors, you're horrible. You're a horrible company. I didn't change my oil and the engine blew up. Why is that? And of course, I guess with computers, the thought of any maintenance whatsoever is an anathema for the users. I have very little, if any problems, but I back up everything. I install all my updates. If I have any problem, I always can go to my last full update and restore everything in about 20 minutes. But everybody drives with no spare. That'd probably be the best way to describe computer users. They drive around with no spare and then they act all shock when they get a flat. But that's it. And of course, that applies the same thing to motorcyclists, which is there's only two kinds. Those that have been down and those that are going down, same thing with a computer. Those have lost data and who's who are going to lose data. So what else do we have going on? Let's go back and look at some of the other ones that we were talking about last week as we got into it. We talked about a lot of these are the same ones. I mean, Caterpillar, I didn't see how that one did today. But we were bringing this up because it really on the February 25th, really tested on less than half the volume of the December 3rd, high 142.41. And not much movement out here. Boeing was down lower earlier in the day. I think you could make a case that within the next couple of days, if you get this thing to kind of push a little bit higher and then it fails again, the next failure would take you back to 380. We'll be back in a minute. I shall return. If you're in the CD market and looking for a secure investment, the Tiger First Mortgage Program may work for you. The security for these first mortgages are building lots in the Tax Opportunity Zone in St. Petersburg, Florida. The Tax Act of 2018 set up tax-free zones across the country where you can build and hold for 10 years and pay no tax on the profits, which makes these lots valuable. The investment is anywhere from 30,000 to 75,000. The interest paid is 7% yearly paid on a monthly basis. According to bankrate.com, the best rate for a four-year CD in the country as of February 20th is 3.1%. A $50,000 investment at a normal four-year CD rate of 3.1% would give you income of 1,550 per year or 6,200 over the four-year period. 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The funds are designed to be utilized only by sophisticated investors such as traders and active investors. Distributor, Four Side Fund Services, LLC. Don't forget, you can listen to TFNN live on your mobile device 24 hours per day. Go to TFNN.com and hit Watch Tiger TV. That's TFNN.com and hit Watch Tiger TV for the latest market information. And we're back, although I had nodded off. Down 17 points on the S&P cash, down 226 on the Dow. Is that right? Refresh this to make sure. Down 240 on the Dow off 35 on the Nasdaq. Russell, pretty much it and the Dow, the weak sister, down nine tenths of a percent down almost 15 points. So we're gonna have, this is a great day, a certainly a teachable moment as they like to say. And that is gonna be the stocks that can actually rally off this bounce and the ones that cannot. So gonna be very interesting watching the candles on a great deal of the stocks out today. Darlington Restaurants, or Darlington ingredients. Darlington. We've got this one that spiked the previous high, didn't do much. Energy office low was ridiculously light. That's December 26th, DAR is the symbol on that one. FECF, which is First Common Wealth Financial. Again, these financial stocks looked very weak coming in over the last couple of days. The IYF, one of the worst of the offenders. November 19th on First Common Wealth, which is $14.26 with 800,000 shares, got in with 376,000 shares on February 25th and it's been kind of coming back off. Certainly he had a lot of energy in the lows that never got tested. So that could get down 20% or more. I got a question to look at GHPH, BPH, what is that? GWPH, almost gonna read the handwriting on that. This gapped up last week. That's back up to the previous high and it does not have the volume today either. You did spike it with some fairly decent volume to 1.5 million shares on the 27th. That was on earnings. The next few days, the volumes really dropped off. You're now back up into that 2.3 million share high of September 27th, 179.65. You went to 182.18 today. Does not, well, you could. You could close back below that one, 176.68. It's the last tick I see. That would be a valid cell signal. Energy was a little bit better than almost all the other stocks off this December 27th. So I think that there are much better fish in the sea to go after if you're gonna drop your line in. Ingersoll Rand, triple top of light volume you were doing about 1.7 million shares on two previous highs around 17106, got to 107.64 on February 25th, did so with 1.25 million shares. More volume on Friday, a little less today. And again, I suspect what we're gonna have see is a little bit of action going sideways over the next couple of days. Maybe Wednesday, we see the last little effort to hold this market up as the end of fund buying comes in. Merck & Co. No volume on pushing higher today. The December 4th high came in at $80.19. 21.4 million shares on Friday came in to that high with 10.2 million shares today, five million shares as you go into a higher high, which is no good. Another stock that we've been talking about for the last week, banging around at highs with no energy is Oracle. The November 19th high at 52.54 had just under 20 million shares, got into it with 13 million shares on February 25th, been kind of going sideways out here, little bit of a reversal signal today with 10 million shares so far. Restoration hardware, been watching this one for a while. Was almost pulled the trigger a day or so to go. It just has a massive 10-day short interest, which reminds me that I need to look at that. I wanted to see what this one's doing. Let's see if anything directly changed because we do have the new readouts from Friday on the bi-monthly short, still 10 days to cover. So eventually that'll go to like five days to cover and when you see that, even though it's got kind of high short interest, that's probably where the wheels will fall off of it, although it looks like one of the easiest shorts in the market is problematic. Again, you can give me a call. I still have plenty of time for the last segment at 877-927-6648, triple top in Stanley, Black and Decker. I think we brought this up a couple of times. Still looks weak. You were looking for 2.6 million shares, got into that high February 25th with, 1.15 million shares, it's rolled over. Today you've actually got a bounce and this one is probably the closest to what I'm looking for. What you wanna see is a close over a nine-day moving average or a three-by-three displaced moving average and then the next pull underneath that short away and you're probably looking fairly decent opportunity for this retest of the 115-02 January 22nd low. That's actually one of the better-looking ones and if you get a push-up in the next day or two and the volume is just drops out, this makes me think that puts maybe really a beautiful thing. What do we have out here? Okay, so we're still off 17, 18 points on the S&P cash. Okay, we looked at Target, we looked at Trimble, looked at Handful, let's go back even a little farther. I think there was 26 to see what else was on some of my lists. At these Casey General store, this thing was banking around the highs. This one tested a 1 million share high on December 12th with a half a million shares on February 26th. You have close back below it, but certainly any little bounce now on a light volume and the next close under the nine-day moving average would be interesting. Take a look at LABU, which is the biotech stocks. This one had been coming up on very light volume. You did have a big push on a lot of stocks and earnings. On Friday, you did have 4.4 million shares into 3.6 million shares, but again, even these stocks with energy at the highs that came up with lighter energy, all these things are reversing back into the trading range. We've been talking about this for the last week. Mastercard back up and above its previous high of 225.10, that was October 1st, came in with 7 million shares. On Friday, you hit it with 3 million shares today. You reversed on about 1.8 so far. You have maybe two and a half by the end of the day. A lot of these stocks just look like they wanna come back to support or previous support. The case of Mastercard would be about that 2.10 level. So there's some nice money to be made here on just a normal retracement of this last big leg higher. I shall return. I'm certain you are or strive 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. 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Get your two-week free trial to Basil's newsletter of the opening call today by visiting TFNN.com. Catch Tom O'Brien, professional trader and educator, founder of TFNN. Also a special guest on CNBC. Tom will bisect and dissect the markets. The Tom O'Brien Show, next on TFNN. And I had to come back. I had to take care of something very quickly. Anyway, we're gonna wrap up the show here in this segment and pretty quiet day. I think a lot of people are waiting to see if this actually is what we thought it was. Still down 16 points on the S&P cash and 5.4 million shares. So again, a lot of volume on the way down, not much on the way up so far today, but we still need to wait. And yeah, I had to run, still out of breath. So what else do we have happening here before the end? Let's just take a quick gander. Gold's still off $10.50. When I looked at my sector, oscillators still think that your low comes in probably Wednesday or Thursday. But we'll talk more about that tomorrow. The rest of the, what's going on out here just did not much really. Wanted to look at a few other stocks. Wanted to look at Nike. Another one that had been breaking up at highs. Certainly this was another reversal, maybe not enough so far today, but in the next couple of days, you wanna watch this September 21st, that's $85.82 with 14 million shares. Got into it with 6.3 million shares on Friday. Now it reverses today, you got 5 million shares already. So pretty good opportunity to actually have more volume than you did at the previous high and a little reversal signal. Again, probably gonna take a few days for these things to come back and start on the sell side. But you've got your first giant warning of a market that probably has topped out. But they're not gonna let it die easily. As I said earlier, only the pentane man will pass. I think that's about it for today. Where's my music? Here. That's it. Anyway, that's it. Larry Pesov-