 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 exciting addition to the power trading hour with me you're humble lovable and squeezibly soft host who always likes to come to you at this time the following takes place between 2 p.m. and 3 p.m. well we had a big gap up early in the day that pretty much faded I suspect a lot of people think that 29 hundred is the magic number to short the living daylights out of the market I don't see anything that says that it's time to short the market at the same time probably chasing dollar bills in front of a steamroller going long here so probably the best thing I think the most part on the indexes to kind of stand back and let this fight as Mr. Miyagi said in the brought a kid the best way to avoid fight not be there and I think we're probably going to fight out for a little while till we find out what's going on with some earnings but you know it's going to be a little while I just don't see a lot of catalyst to either go higher or go lower we're going to look at some stocks that have made some fairly decent signal that they're not going to hire today and maybe those that develop into something else but you know what we've got tomorrow Delta neutral and options we're going to get a much better read and for the most part from a long term long some sitting on them for the rest of the market it's kind of tough to actually say we're just going to keep an eye on it and see what happens but you never know anyway we've got lots of exciting stuff to talk about today and even some news and is there anything else other than that time to get on with the show and on this day in 1955 the Le Mans race organized by France automobile club was first held in May 1923 has since been held nearly every year in June race always begins at 4 p.m. on Saturday afternoon last for the next 24 hours over 13 kilometer course what is that about six and a half miles running through the country roads near Le Mans and if you ever go there you've got to say it like that just drift off the very end of it a little mall I've been to two of the races quite quite the spectacular there's a great movie or documentary called Ford versus Ferrari about the 1960 I want to say 1968 Le Mans which is great it's documentary absolutely fantastic and the documentary so good someone saw it now they're making a movie a big movie out of it but takes a takes on Ford deciding and around about 1964 they're gonna get involved in racing around the world and pretty nice well what's this down here oh that's from yesterday but that's it of course on this day in 1955 the big thing which is not down here I don't know I must have not saved it was that 83 people died in a car accident and for the next six years in fact three years and many countries of Europe racing was outlawed and of course now we have a whole bunch of other things like fencing and everything else to make it a lot safer for spectators to be close and feel the action but yeah a lot has changed let's go ahead and start looking at charts a little bit earlier today as I said there's some news yes yes that's a good song and one of the reasons why people are talking about imminent front one of the reasons why what a fuse when one of the few songs actually talks about the stock market go look at the lyrics yep the who who's on first to do let's go see what we've got hds gap down this is hd supply nothing to do with home depot but they're a big distributor gapping down on some fairly big margins are a big volume today to byn d of course everybody's going to be talking about this for a while could you talk about a target try star doji in this you probably could I don't you know that there's no way to short the stock you there's I checked there's nobody at least nobody that I knew of to short it but at the same time I don't think it's over I think it's going to hover around here for a while you may even get six or nine months out of this thing hanging up now that the underwriters are going to score huge on it but you got a gap up you got a gap down and you do have a possible abandoned baby shooting star whatever you want to call it up there to 186 to do what else is going on semantic gap down and not a lot of volume out here wants to retest the one 1750 I can need to do that and one of the where times that Amazon got its hat handed to it well we'll call it a hat right is from Grubhub they've been totally ineffective of going up against Grubhub for the last year and a half with their Amazon restaurants deal Grubhub for whatever reason has been able to push back on that and a huge gap up on Amazon saying that we will no longer compete in that space yeah so where are we at as we go to break we're up three points on the S&P cash dows up 1750 $17.50 Nasdaq up about 10 and a half rustles up about excuse me down about four and of course when we look at some of the other more important things like volume that we were talking about today and we're doing just a little bit more than we did yesterday about 3.9 billion on the on the CBO E consolidated tape a dollar index down about 8 cents at $96.62 and of course when we look at copper the most important thing still just hovering right around this $2.67 range we need about three bucks to start talking about any kind of inflation and copper and dr. copper has been rather quiet and mute so that's it to to what else do we have that's about it till we go the break when we come back as I said we've got lots of stocks to look at a lot of them you could say or normally I would say go ahead and pull the trigger on going short on them there's only one that I kind of like and maybe we'll get to the 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 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and how to capitalize on that move for all the details and to get started with the Taz profile scanner today visit the front page of TFNN.com with a 30 day money back guarantee you have nothing to risk go sign up today 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 and we're back got our first question of the day and a couple of emails from the den your thoughts on tech earnings this summer been saying some so called experts and I'm glad you said that calling for significantly lower earnings and guidance of no you know no I'm looking at the markets because they're a better forecaster of what's going to happen six or nine months into the future and I don't see anything in that I think there's some headwinds but I don't think it has anything to do with earnings. In fact did I have that. Let's see if I've got that one of the things actually going on today. That I was going to talk about in the news I can actually find it where's it at. There it is. OK. It's hiding somewhere. I don't know where. Oh there it is. I moved it over in the corner. I will do this here. To me the bigger issue right now is the antitrust investigations into the big four Google Amazon Apple and Facebook with the examination the way that they affect the news and the media landscape. Some people are saying that Google takes somewhere around a half a billion dollars worth of free information off of other web sites and that's what the hearing today in the House Judiciary Antitrust Subcommittee will examine and whether or not the antitrust laws are effective in preventing anti competitive behavior. So this is just the beginning of it. I think this is going to last several years. They had the opportunity to act above and beyond the call of duty and what did they do. They operated on the worst kind of how can I say just the worst kind of not the better angels of our nature. The the more the worse devils of our nature. And I guess that all saying is power corrupts absolutely or absolute power corrupts. Absolutely. And for the most part these guys have had incredible power. When you look at Facebook I mean Zuckerberg is still acting rather horribly in Hawaii on his housing and trying to gain the land. Worthy of the early robber barons of the train and and steel industry of the 1900s. So you know between that and the molestation of free speech. These guys are are acting badly and poorly. And I think that's really the bigger issue right now. If we exclude these four folks I don't see anything in the earnings that changes a great deal of that. But if you're talking about Amazon Facebook and maybe Netflix and some of the others. I think that there are some a lot of issues that are making it rather difficult to think that those guys are going to keep up. Microsoft of course making new highs. Let's take a quick look at that. Again, you got a little bit of a reversal out here but no real signal. You got just a little bit higher today. And what are we at here about 132 as we see that. And that would be it to to to to to a and see we're up a little more than two points on the S&P cash up six on the Dow up nine on the Nasdaq and just down to 50 on the Russell now. Let's take a look and see what else we have. First email coming in talks about gold. And we'll find out what Mr. Gold finger while you certainly had the gap down yesterday and that looked fairly horrible. You got a little bit of a bounce out in the GLD today. But again, not a lot of volume. You had a three advancing soldiers. You had two gaps out here into the 127 high. Now here's the worst part of gold and that is just no volume at the high GLD on February 20th at 127 21 had 15.6 million shares. He came in to that with half two days ago and that was it. So pretty horrible looking up thrust. If you go back a little bit further, the log the the leg up from November 13th up to February 20th on my power law vector indicator had a 5.1 the move from May 2nd up to the high on June 7th. I just had a little bit about about four. So why the energy didn't fall off a cliff? It wasn't high. And when you got to that high, you actually tested it was fairly significantly lighter volume, which is problematic. Okay, let's go ahead and look at some other charts. I answer all my emails here. Okay. A and which is Aaron's rents. You want to look at this stock because of course, if these guys are doing real good, generally that means the economy, especially the lower socioeconomic level has some issues. So a little bit of a canary in the coal mine on whether or not these guys are doing well. $59.71 was the April 25th high with just about 2 million shares. Got into it yesterday with 1.14 million shares, a little reversal, but not much going through it today with just 300,000 shares on the downside. Abbott laboratories, another one testing the highs may get a close underneath that high. You needed 12 million shares to get to the April 1st $80 and 74 cent high. Yesterday had been about 4 million shares. So about 30% of that volume. Today, you got to a little bit higher high with two and a half million shares. But it looks like you're going to close back in the trading range. Advanced Micro had their big dog and pony and a live event. I watched part of it yesterday. You got also kind of a little topping pattern out in AMD down today with 67 million shares. You were up with 97 million shares yesterday on a longer term basis. This was trying to test the 304 million share September 13 high when everybody was shorting the living daylights out of it, and it would just continue going higher. And again, generally, you get a lot of people shorting it just means that the stock is going to go higher until they give up. Well, they gave up and got back down to $16 and 17 cents. From then it's gone back up to previous highs. But you've got, you know, this thing's probably in a bigger trading range from about 16 bucks up to about 34. So this one does have some fairly big potential. My suspect as suspection introspection speculation is that this has first support right around 27 bucks. 26 bucks is just underneath it and probably $21. So this one, if I was thinking about stocks that could have some downside in the fairly near future, that one looks just on a chart basis rather significant. When we come back, like we said, lots of stocks to look at today. Plenty of time for your phone calls at 877-927-648. And of course, email me at path at tfnn.com. Path of least resistance is David White's daily trading newsletter. And if you're looking for active trading ideas, then now is 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 least 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 least 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 least 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. Every morning by 9 30, I send out my morning letter to subscribers with market commentary on a variety of markets, currencies and commodities to keep investors up to date on the day's trading action included in market insights, a specific buy and sell recommendations for stocks, ETFs and even options, which stops and price targets included for every trade in my newsletter. If you'd like to try my newsletter risk brief 30 days, then head over to the front page of TFNN and you'll find market insights under trading newsletters. I use my years of trading experience to bisect and dissect the market every morning and give my subscribers the most important information they need to know for the day ahead. I even issue afternoon updates for my subscribers whenever warranted with important market action. I'm always scouring the market for the next great trading opportunity. Sign up for your 30 day free trial to my daily newsletter market insights today 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 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. 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. Yeah, we're back out of question in the den asking me, what do I think about GDX? I'm looking at the short term sector oscillator that I have every day in my daily newsletter, Path of Lease Resistance, which you can always find out at the front page of TFNN. Something I came up with, which is I always love the McClellan Oscillator, but it's glacial pacement that you missed pretty much the bottoms and the tops. Pretty good for letting you know the long term movement in the market. So I wanted something else. And as you can see, generally what you worry about in the sector oscillators is when you get the short, medium and long term all basically hitting at the same time. That's what you got yesterday or the day before in gold. Finally, you saw the you know, let me zoom in here just a little bit farther. You got the long term hitting the short term and that's generally a fairly good indication that just about every all the good is in and the bad is out. And of course, you want to buy on the washouts, which you basically had back here in the late, let's call it late part of April, first part of May. And you know, anywhere in there, you're probably going to be fine. But of course, the best one was the IYT. And why we chose that fact was just go if I can find it here real quick. IYT. Let's do this. 2019 and go back down to January. There we go. And this was an example of buying the lows and what I like in the sector oscillator. That is that you get a handful of days where these things just absolutely get pounded and continue lower. But you normally you're talking about five days at the low and you want to be buying somewhere in there. So you had all of them hit by the 29. So you had one, two, three, four days. And then from there, just popped up higher. But extremely good at buying the lows. So when we go back and look at gold, and just the chart itself, you got back up into the highs of March 26, and about 41, maybe 42 million shares. Now you got into it with fairly similar volume. But for me, it was those two advancing soldiers or actually three advancing soldiers that basically said that that was going to be kind of an exhaustion move in gold. And you got to pull back a little bit of push off the lows here this morning. But you know what, I think those two gaps can get filled back to 24 to 21 on the GDX. And I think those things are probably going to get probably filled probably before the 21st. My guess is that this thing can turn around. Anyway, as I said, give me a call at 877-927-6648 or email me at PATHTFN and N. Just had a big, huge move with a lot of force and a pullback. And I don't think there's much you can say other than that. I just don't see anything more. We'd have to have some kind of news, I think, that changed my outlook on gold right now, but just in a bigger trading range from about what, 1270 to about 1350. Brooke's automation, kind of a little bit of a eye back in here. Let's see what else we have. 39.65 with 8.5 million shares on August 28th of last year got into that yesterday with about 445,000 shares. Today, you got about 238,000 shares into that huge 8.4 million share high of August 28th of last year. So again, a lot of these stocks are up here, but they're just kind of whispering on volume, not doing a lot. One of the few stocks that may be making some kind of low and maybe not instantly, maybe take a little while and a little consolidation is carbonite. $21.83 was the March 6 low at 1.4 million shares. I got into it, but missed it by about 17 cents, but just 470,000 shares, so 33% of that. You got a little bounce. One more probably test in that area, unlike volume, sets up a fairly decent risk reward. The Carlisle Group on a very short term basis, since a lot of these guys, big men on Wall Street, been yacking a lot. $21.67 with 940,000 shares. That was back on April 30th yesterday at 561,000 shares today, 418,000 shares. So again, a lot of these things just kind of coming up on light volume. Core logic back into a fairly long term gap. That gap goes back to October 25th or 2018. 1.7 million shares on the way down. Last time you tested that gap was on 890,000 shares on April 24th. That was $42.70. Last couple of days, 413,000 shares, 470,000 shares. Today just 227,000 shares. Looks like a spike that ran up and turned around and came back down. Not a horrible looking chart, but just one of these ones where you've got a lot of resistance going back to where this thing gave it all up a while ago. CSIQ, which is Canadian solar, again with energy prices so cheap, it's fairly hard for these companies that produce electricity at four or five times the cost of fossil fuels to get a leg up. And of course, and governments are kind of done with throwing lots of cash at the issue. At least the smart ones are. Down on heavy volume of five and a half million shares back on March 21st. That gap has been tested for the first time on May 3rd with 1.7 million shares. Yesterday you tested it with just 538,000 shares. Not going to short a $21 stock, but at the same time you've got probably a good shot at coming back and testing $16 and 70 cents. Kozian Limited. Kozan Limited. Kozir Sosai Limited. CZZ is the symbol on that one. Two million shares, $13.18. And you got into it with half the volume a couple of days ago. Spike that came back down. You've got kind of nothing to do with it. You've got a lot to do with it. You've got a lot to do with it. Yesterday was 745,000 shares. A doji today with 563,000 shares. Also on that list of stocks that looks so and could look rather weak is first solar. Let's go back and look at this. Another doji after pretty much a doji today with 63.82 cents that had 4.5 million shares. So you're going to test it with about 25% of the volume. I don't know when earnings is coming up on that, but that would be something to check. You know what? How many people know Icer Sosai? Sosai is, but yes, absolutely a fantastic film. Great, great cast and a great script. Be for almost nothing because it didn't really cost a lot to make. Just a lot of people sitting in room. In fact, more of a play than a film, right? And a fantastic ending. Ending. 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That's TFNN.com and hit watch Tiger TV for the latest market information. And we're bouncing ground down about three points on the S&P cash now. Again, options roll over tomorrow so I'm not getting too excited about the action today and again not seeing a great deal of volume as we did sell off. You had a little bit on the down move but my guess is we just have a bunch of people piling on short and we want a high where the shorts give up. I haven't seen that yet. But I'm not expecting a lot of movement down. Did write in the newsletter this morning that the market was brittle and you don't like to see highs on lighter volume. You don't know that for 100% that the market's going down. But you do know that if something happened, it's kind of like dropping your iPhone. If sometimes you got the little cover on it, sometimes you don't. When you don't, it's going to go down. It's going to go down. Screen breaks. You got a nice little cover on it, which is volume. At least maybe when you pull back, give you either time to get out. Or the fact that it doesn't go to back down that far. But anyway, probably closing out flat tomorrow, look for more extreme volatility for options. Going into Delta neutral on the next seven or eight days. So I'm kind of I'm girding my loins, as they said in the Bible. A loinger and waiting to see what happens and just really sitting on my hands for the rest of my positions. To to what else do we have? Oh, let's go back to some of these others. Okay, lattice semiconductor. Certainly another to light volume test made the first $14.63 4.8 million shares got into it today with 1.2 million shares so far. Yes, it does. It doesn't sound sounds bad. I can't even say why it sounds bad, but I will text you why it sounds bad. To to Okay, Momo has lost it's Momo. Gap down back on the 10th of August with 13 million shares filling that gap today with 3.3 million shares so far. So Momo has lost it's mo. PLD, which is prologous hitting some resistance. Let's get back up here to to to 3.6 million shares back on May 1st $78.56 got into it two days ago just 1.56 million shares yesterday 1 million shares today $739,000 shares so far, so probably going to come in about what we did yesterday, but no real pullback, but certainly not a lot of juice in it, but a lot of these stocks making multiple multiple highs. So you do have to kind of keep that in vein, but I just I don't see a lot of reasons to be long and I don't think the market's pulling back just yet. Maybe after options expiration, but we shall see. Phillip Morris been bouncing along the support level set up by a gap higher that gap goes back to the February 7th gap higher with 7 million shares you're right back to it and just going sideways now. I don't know how all this vaping thing is going to affect the cigarette companies but either you got a lot of distribution or a lot of support right here at the $78 level RMD is ResMed RMD 1850 was the January 18th high and that thing got blown apart. It's come back you got some multiple gaps right around about 108 you had about what about 180,000 shares so far compared to close to 1 million share highs the previous times around that 118 level my guess is if this did fail here coming back to 108 on it SBGI which is Sinclair broadcasting one of the most bullish charts you may just need another buck down or two but man did you take off with a sign of strength on the 6th of May that was with 16 million shares you're back filling the gap with less than 700 well less than 800,000 shares right now so not looking too bad I like to see about half the gap filled that would take you to about 4750 maybe 48 bucks to two okay yeah I'm like I said I'm not going to get too wound up knowing that options rollover or the delta neutral positions is tomorrow a great deal more and a lot of times if they want to push the market down into that especially into Wednesday morning that starts today and then if we see everything kind of bounce up tomorrow afternoon then we can probably start thinking that it's more about options rollover maybe a little less about the actual medium or longer term options issues let's look at a few more stocks got plenty of time all okay got that taken care of I got that okay okay okay I got a few posts I got that it was on the come Arby's sales force I think we got all those taken care of wanted to make sure Sinclair broadcasting again that SMG Scott's miracle grow man if you were thinking about pulling a trigger short on this one you're right back up to where this thing failed on earnings which is the 30th of January of 2018 4.9 million shares but again as you come back and fill this gap couple of days ago 447,000 shares yesterday 440 today 204 certainly looks like it come back to 86 bucks on just a wisp of any kind of negativity I'm not much on the negativity right now I'm more on the negative waves TPX which is temper Sealy has come back up into its long term resistance which is this gap come on this gap goes back to the September 28 2016 and this thing got blown apart it's been trying to come back in there you had gaps up and gaps down at that level is the Rubicon for Simpy Temper I can't even say it Temper Sealy they got bought out around 70 bucks if that could get up there in a spike that looks like probably a place to plant a flag to do to do to do LD target resources just sitting there going back and forth I don't see a lot in that tractor supply we're talking about stocks making new highs let's get a little closer to this one as we watch it 4 million shares back on April 25 107 98 109 67 the volume about a million shares about one fourth of it back into the trading range no soup for you no soup for you 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 if you're looking to become the best of the best when it comes to managing your money let me teach you to do what most wealth 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disruptive technology like Microsoft's is the key to these massive long-term profits and the tech insider is the vehicle from tfn to capitalize on these opportunities this is the go-to newsletter that identifies, monitors and profits on mostly little known cutting edge companies with great long-term prospects David's experience is as an inventor of Emmy winning animation products for TV and Hollywood that propelled a company public match that with 14 years as a full-time trader and he's uniquely qualified you through the light speed world of ever evolving high-tech if you're ready to ride the next big technology full market for less than $40 per month log on to tfn.com and get your two week free trial to the technology insider get in on the ground floor of the next big thing today Basil Chapman has a special subscriber webinar coming up Wednesday June 12th at 5 p.m. called the tide in this webinar Basil will be demonstrating techniques that can help one identify whether the tide is coming in or going out that is whether a trend is bullish or bearish in a variety of timeframes and Basil will be speaking specifically to indices, currencies, commodities, interest rates and key stocks the technical tools that Basil will be discussing are available on almost all software packages that will be shown in historical context as well as live for current market setups identifying the key trend allows one to trade with the tide rather than against it. Subscribers also gain immediate access to three archived workshops so you can get started right away when you sign up for all the details on the opening call and Basil's upcoming subscriber webinar the tide this coming Wednesday visit the front page of tfn.com and sign up today and we are back at Tractor Supply we were talking about that when we were going about a fourth of the volume tested back into the trading range Twillow T. W. L. O.'s symbol on that one kind of a triple top with a pullback today into the trading range on light volume I would like to see some volume off the top again we're not getting that and going into options and we're going into the trading range and we're going into the trading range going into options delta neutral day tomorrow sometimes called Wally Wednesday because everybody figured out that mathematically that's when you want to take off the risk if you're an option market maker so you tend to push the market around a little bit not only with the options themselves but kind of give them a little help now on Twillow 14 million shares on May 1st that was 142.20 44.62 on a little less than 8 million shares on May 16th and gave it up yesterday you got above that spiked it with 4 million and the reversal back here today but again on light volume and that's why you were hoping that you'd actually see some fairly stiff volume and I haven't seen that quite yet we talked about under armor actually holding the highs actually doing fairly well today again and again in the housing market USG and it got a lot of volume but not much movement V, C, Y, T what was this I'm trying to remember parasite spiked it's April 8th high the May 1st high and you were looking for about 750,000 shares and about 556 which is not as bad as I thought maybe going into the day so now we're pretty much at the very end of the show again I'm not going to get too wound up one way or the other until we get a little bit more traction in the market but tomorrow 80% of the time the low of the day will be the low between now or between then and options expiration on the 21st it's got to have a pretty compelling case we'll say that market's headed lower now in the meantime sell when you can not when you have to and of course be here or be square tomorrow same bat channel same bat time