 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 as always we like to come to you at this time the following takes place between 2 p.m. and 3 p.m. and we've got kind of an interesting market we're up 20 points on the SP cash when we look at the associated volume so far 4.5 billion shares so fairly good but not the kind of 10 billion to 12 billion shares that we're looking for for a blowout of the previous highs so kind of a lighter volume at test when we look back at some of the other ones like the dollar index were down 45 cents at 96 13 we had EIA numbers out for natural gas earlier today and I am not doing much it's down 9 cents at $2 and 18 and a half cents crude up of course on tensions in the mid-east as if that's anything new we are going to apparently have a meeting of several of the leadership of Capitol Hill and a briefing at 3 so look for some additional volatility before the end of the day if any that news leaks one way or the other but markets kind of absorbed it fairly well doesn't really look at what's going on here too harshly but again it is going to be exceedingly rare that the United States involves itself in mid-east conflicts on anything other than the new moon our chief strategy relies on stealth aircraft and you can see them when the moon's out so you either need horrible inclement weather where no one can see anything or you need a moonless night and generally it's all about that moonless night so I'm not really thinking that there's anything going to happen anytime real soon US is more than willing to wait even if there's a lot of saber rattling on the other side to when the conditions actually favor action I don't know that we've got action coming I'm just saying that if we get it my guess is it won't be before the new moon which is right around the 1st of June or yeah 1st of July so or right in that area so don't see a lot happening right then anyway S&P cash at 2946 63 options all suggest much lower tomorrow I did buy a bearish option today and it it's up fairly substantially by about 50 by about a hundred percent I expect that there could be a great deal more there and are willing to sit on my hands the other big news of the day is that slack came out as a DPO not an IPO we'll talk about that in a minute and how it's doing right now 41 46 after a par value of 26 we have our favorite what can you can just insert something derogatory for Mr. Kramer who was fanning the flames of this yesterday but never now anyway we'll get and start looking at a handful of other things of course Oracle came out and surprisingly enough I thought if there was going to be one that failed is going to be it that they did well even surprised me but not much happening on that and again not much in the way of earnings over the next couple days tomorrow morning car max will give us a little read on what's going on in the car business when we get into next week Tuesday morning we've got Linnar and after the bell we've got Micron on Tuesday FedEx and that's kind of it kind of thin and variable as we go into next week in the morning on Wednesday and I don't really see anything that can actually move the market that morning we'll see and even that afternoon just not much happening we'll see what we get into Thursday next week Walgreens boots alliance in the morning on Thursday again Conagra Brown brands so not much happening there Nike which is probably it's a little bit of volatility after the bell on next Thursday a week from today and see if there's anything into Friday next Friday before the bell Constellation brands and Jinko solar so again I don't think you got about one in there that could actually move the market next week so again probably a headline driven to market for most of the week I don't see a great deal other than that happening and of course if you're looking for a pattern in options expiration it is if Wednesdays if Wednesday's down and Thursday's up generally Friday you get a little bit of a pullback options actually they if they could run the table with some negative news and just get it down to about 29 20 on the S&P cash that'd be worth about 250 million and a million dollars if they could get it down to about 2900 about almost about 375 million dollars that's just in the spies so there's a lot of cash running on this and if the market would pull back even the 20 points were up today which wouldn't change a great deal of anything I think in this market would be rather significant for options so I'm kind of interested to see how they actually play out today again not the kind of volume we need if we turn lower you could get several signals those might be fake but it would still be interesting nonetheless to see what else we have out here now that's about it we'll do a little history and then we'll move on on this day in 1975 Jaws a film directed by Steven Spielberg that made countless viewers afraid to go back into the water in the summer opens in theaters the story of the great white shark that terrorizes a new England resort town became an instant blockbuster and highest grossing film in movie history until it was bested by 1977's Star Wars Jaws was nominated for an Academy Award best picture and category took home three Oscars for best film editing best original score and best sound if you ever take a script writing course for Hollywood and I did because I was designing a video editor so I probably should I'm I wouldn't be great at it but I needed to know how to do it one of the first things you learn about writing scripts and stories is there's only four original stories and one of them of course is about going after the big white whale and when you really look at it Jaws was nothing more than a retelling of a story that had been around already for 120 years 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internationally at 727-873-7618 and why there's probably a good chance to we go another five points higher tomorrow and probably a high probability of that maybe 60 70% there's a chance that we're down 40 points on the S&P cash and that's about about 30% so the question is is the risk reward really good for being short for the next day or so the answer is yes in my opinion I don't think there's a lot that is going to come out that's going to help anything probably had too many shorts coming in in the morning and we're seeing a little of those people be being squeezed at the end of the day but I don't there's just not enough juice here and the question is after the open tomorrow are a lot of people going to want to be long come the weekend in case anything happens I think we'll know a lot more after 3 o'clock when we have the the Congress people come out maybe make some statements about what they learned in the briefing on Iran but my guess is that right now everybody's just ignoring everything but it only takes one little spark when you're up on light volume to change everything and you know what with options expiring tomorrow the risk reward can be absolutely astronomical I'm planning on the chance of losing 50 cents to make $3 so we'll see how that does right now the last tick I see says what I bought for 50 cents is worth a buck 05 and we'll see how that goes in but I'm pretty much going to hold those through at least noon or a little after unless I'm proved drastically wrong but my guess is that if we're up today a lot of people going to start thinking about taking some cash off the table tomorrow morning and we'll look at that I'm getting style I don't know about that let's go ahead and start looking at some charts again we got a lot of stocks up on light volume not all of them but there is some low-hanging fruit if we do turn down we looked at some of those yesterday we'll look at a few more of them today where we at here first of all we want to look at Oracle and see how it's doing now they came out after the bell and like I said if there was one company that was going to surprise to the downside I thought it would be this one it certainly wasn't the one which probably tells you that there is some juice left in it there were a lot of people short going into this I'm not a big fan of trying to pick what people will say in earnings much rather play it the day after a couple days after but you're back up against the previous high of April 24th 55 dollars 53 cents 10 million shares and threw it with 33 million shares 34 so you got a sign of strength in Oracle and it is breaking out for all the hand wringing about the end of the big tech cycle certainly looks very interesting as we said a lot of these stocks are right up against resistance and Barilla is one of the ones we brought up yesterday you got yet another little doji this is the second one on that no volume this takes you back to the gap down on May 22nd in 3.8 million shares yesterday 270,000 shares today 216,000 shares could they just pin this at 45 bucks for options expiration tomorrow and certainly possible after the open if this thing's at 45 bucks with no juice might be a one to take a look at for puts into the end of the day in fact playing white lightning as Tom O'Brien calls it looks very interesting to me Amgen did pop a little higher not much volume today I think we looked at that the other day too you can give me a call at 877-927-6648 you can email me at path at tfnn.com and of course you can always put a message in the den see if there's anything here I got a lot of announcements oh we were gonna talk about a slack and slack is something I use every day I used to have my own channel on slack it didn't IPO today it did something else and where's that at did I get it did I close it there it is to to there we go okay it did a direct public offering a DPO not an IPO also known as direct listing is a way for companies to become publicly traded without a blank bank backed initial public offering support direct listings are an alternative to initial public offerings in which the company does not work with an investment bank to underwrite the issuing of stock by foregoing the safety net of an underwriter provides a company with a quicker less expensive way to raise capital the opening stock price will be completely subject to the market demand potential market swings now we had Spotify actually try this few months ago but the way they did it they only came out with a few I think 10% of the float actually tradeable one of the things that you should know about these is there is no lockup period there also are a bunch of sore losers on Wall Street they probably thought that they were going to be able to get they were going to be able to wet their beak to the tune of about two billion dollars which would normally be their cut after a company of 16 billion dollars which was the price or the value of the company if it went out at 26 bucks it's been trading around 41 bucks today what I did say was also was you got to really be careful when you get somebody like Kramer fanning the flames for unsophisticated investors or as I call them rubes that listen to that nitwit is he always wrong no is he mostly wrong yes there's a reason why he's on TV after he blew up his hedge fund twice I don't know if he's gotten any better I just the problem is when you get one person like that that too many people can easily follow as a cult leader it becomes problematic I've seen him drive stocks to unbearable highly high prices only to lose 90% of their value that's not new in the stock market but the problem is that he's got a megaphone and he can cause a lot of people that are fairly unsophisticated traders to make movements that are probably unwise and I tell everybody about if you've ever been to Las Vegas and you sit down at a table everybody always assumes he at least have a basic working knowledge of playing poker but if you just do stupid stuff you can wipe a lot of people out on the way for you going and losing all your cash those people are known as donkeys and what Mr. Kramer can do is raise an entire army of donkeys to do stupid stuff I will come back we'll talk a little bit more about slack why I love it why the product may still not be able to make it even though it's a good product we'll be back at that half of least 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 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 up 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 free for 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 look at 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 traders methodology using this first of its kind program the art of timing the trade charts allows you to 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from iOS to Mac to Linux to Microsoft to Android they've got an app for every one and every flavor also has a lot of features I actually love back to do let's go ahead and do this I'm gonna just bring it up here here's a little conversation where I'm talking to a handful of people about machine learning and somebody's asking my opinion on what they should do and how they should learn to write software for the stock market anyway fairly interesting product in the fact that it does exactly what you need to do if you're developing software in any kind of collaborative effort what is not sure yet on slack is if they can take a lot of these rooms which are free and turn them into paying customers if you own a business you probably want to pay if you have some kind of ad hoc room here that's about machine learning and most of those are free and here's the rub Microsoft has a product called Microsoft teams it links not only up like slack but they're adding hooks into it for actually doing a lot of the repetitive efforts that you would have in GitHub so Microsoft continues to kind of put this together that they decided it not to have lockups that they bypassed a lot of that stuff makes me wonder if Microsoft teams under the cover since I don't use it is really going and the combination of it with both LinkedIn and GitHub is the kind of killer product that basically kills off even a good version of a messenger like slack they're basically they're called action is that they're gonna get rid of email in the corporate environment certainly you can do that with slack today and they just charge you for but since it's a invitation only kind of product you don't get a lot of spam it's pretty easy to take care of as I've told a couple people early on when Microsoft was developing Microsoft learning net a package for doing a lot of machine learning I'd opened up my own slack room as they were doing it eventually they decided that they didn't want anybody to do anything with it that weren't wasn't on a product called glitter which is kind of like this but really designed and linked into GitHub on almost a one-for-one basis my guess is that eventually Microsoft teams glitter and a getter glitter and most of the features in slack will go into Microsoft teams for collaborative development of software at the price that they're at today they're basically putting in a lot of value that slack will be able to get out of the development part of the market and actually get into the Fortune 500 standard line of business every day kind of thing and make it more of a ubiquitous product instead of one that all so that it has a lots of users gets out of just a development phase but if you're developing a product like a shareware or not a shareware like a open source project it is very very good for doing a lot of not only technical support but other things anyway I use it a lot I love it we use it at TFNN for communications with the producer in the studio so I use it every day for that too but just a good product but even good products sometimes can't make money they have not proved that they can make money yet what is what is what features does it have well in fact I probably need to now pop it back up here one of the over here on the right hand side I sent a link to a video on youtube and you'll see that brought up the actual preview and you can see it inside of it more than just being a standard messenger they have a lot of they make an api available for people to make specific plugins for all kinds of things like if you want to have a video conference there's a plugin for that you want to have charts and other things they're they're probably a thousand different plugins available for it but think of just like being able to pick up any kind of application needs to be added to a room of many people and a lot of that from you know you can basically buy all kinds of things that make sure that bad words don't go in like said video editing one to many many to one so there's basically if someone's thought of it it's already available for it so it is kind of a lego thing where you just keep plugging the yeah most of the plugins are stuff for you pay for again that's where it's going to be interesting is how well they can get people to move from free which is the room I'm showing right now which has about 3,600 people in it to one where people actually pay on an ongoing basis because that's really their model is to go after corporate America and have a way for them to have a interactive system for that but it very was say that you were building an airplane and you had all the different teams from avionics to engines to aluminum for the skin of the plane to the tires and landing gears it makes it very easy to chop all those things up put those people in a group and be able to track over time all the the communications public communications between them it also offers a email like system without all the problems of email i.e. spam so it just a great communication a product for people inside the tent not everybody including bozos spamming you and I think that's probably it hopefully I explained it as well as necessary just something I've used very well a lot of the free messengers have gone away like yahoo messenger and some of the other ones and that's always been something and I just their app for windows is very good and like I said download the free app on your android phone and you can see how it works too or on ios for smartphones and I mean they've got everything covered and that's one of the rare things too is that literally anywhere you go Linux included you can use their chat system we'll be back after this 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. 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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 866-4767523 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 foresight 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 then hit watch tiger tv for the latest information and had a question here the product that microsoft has is a thing called microsoft teams which is very much like it much more directly focused toward programmers but i think they're starting to open that up and once you get to teams and get hub and their own development software and the other uh kutra ma that comes along with the uh with the the suite of products microsoft already has the question is whether or not they can ever make any kind of money um and i i think that's what everybody's thinking can they expand out of the direct uh software development model that really it's worked on um another question is where did it come from there was a guy named jim butterfield around 2005 or six uh that didn't like the way that instant messengers worked for developing a software game the software game ended up going into the ash heap of history the round bin but everybody really loved the product that they developed which became slack and uh well for a guy that actually was born in a log cabin with no power no electric no anything else um no running water and outhouse uh to be worth uh probably a billion and a half dollars today is kind of quite the story too uh what else do we have let's take a quick look at microsoft um slowly creeping back up uh around the highs 29 49 is the last uh hit up here at the highs to to so what do we have microsoft you did hit highs you haven't uh of course had a sign of strength above 131 and that is the real problem out here you've got a market that's rather brittle it doesn't mean that it'll turn down today or tomorrow i'm just saying that the risk reward is more than likely that you do have some kind of movement uh to the lower tomorrow from what options are saying and you could have a big surprise and of course this is what you really dislike uh if you're long and that is light volume pushes to new highs no signs of strength and uh a lot of things that could fairly quickly go wrong what i dislike about microsoft is not just the volume not just uh the lack of a sign of strength uh but the overall weakness from that June 3rd low up into the high today there just isn't much juice generally means that you're going to come back into the trading range which means uh the next target you i'd want to look at is below 131 37 um the downside is this is the company that can do no wrong they've made every i'm going to say 95 percent of all the uh decisions that they've made since the new CEO have been right and there's a lot of discussion about whether or not there is decisions or there are bill gates where he's just channeling bill gates but uh i think the guy been around for a long time really a disciple of bill gates and not a bomber uh wasn't bombers real choice and in fact um bill gates uh apparently put his thumb on the scale when it came to getting a new ceo and running bomber off uh and it looks to be pretty good i thought there was one guy that was going to be better than him um and amazingly enough he went into he was kind of the head of all the word and excel and all that in the software development part of the business i thought he'd probably be the best guy i'm going to say that i'm a little bit wrong about that and he's of course a lot richer because he joined a big venture capital firm and had just a long string in the last three or four years of huge winners so he's probably still happy doesn't have to run a big company didn't have a lot of people to report to and probably actually made more money than the current ceo of microsoft microsoft ceo probably long term going to make a lot more money but in the short run the last three four years the guy that left for the vulture capital firms actually so far has made more money and had a whole lot less work so that could be it uh well we got a couple minutes here left wanted to look at a handful of others and see what we have for amazon today and see whether or not they can push up um certainly uh you've got a little bit of juice as we went higher uh than the may 16th high that had 4.7 million shares you did 2.3 million shares again this is a brittle market and um you know if i was going to do anything i would be buying puts for tomorrow they're cheap uh or bearish let me put it bearish for positions for tomorrow doesn't mean that i will be right but uh if you risk a quarter you know for an option or a dime maybe get a buck or two back so the bang for the buck probably hasn't been this good now of course monday and Tuesday we go into options rollover and then wednesday of course that takes us up to the 26 already you actually get into fun buying in a couple of days after that but the real story is going to be that 29th meeting between president trump and president zai uh where they talk all matters of things and from what i've read there's a lot of issues with china's banking system that zai might be more than willing to get this done sooner rather than later before any of the cracks in the dyke start showing up and there's never the little dutch boy that has his finger in it when you need it so you never know uh to to us take a look at another one uh in flx now i had a question about that i mean again these things uh lower highs higher lows you want these things to break out generally the first movement will be to the wrong side so i wouldn't be surprised if we do see some kind of a blowout maybe for the news on oran or something like that um in a lot of these stocks that make them kind of go down and offer yet another opportunity to buy these things of course right here i can't buy with a volume as weak as it is and as brittle as it possibly is but again i can't go short a stock right now the only thing i like is that options expiration is tomorrow which means that the amount of money i risk compared to the amount of money i can make is fairly decent other than that i kind of feel like throwing new money in the market right here is probably more like picking up dollar bills in front of a steamroller all you got to do is trip once and you will become the thinnest trader on wall street not a chance of that happening me is there uh to to to what else do we have got a couple emails here see what we got okay yeah yeah we haven't paid any attention to mr ibm just back up to resistance like almost all the other stocks in the market we'll be back in a minute and wrap up the last segment of the show 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 managers tell you can't be done which is how to time the markets i'm steve rhodes author of mastering probability and for the last 12 months timer digest has been tracking my newsletter signals which have earned me the ranking as their number one market timer in the nation for the s and p 500 for the last 12 6 and 3 months timer digest also ranks me as the number one market timer for gold as well the fact is markets can be timed and i'll teach you the exact set of tools that i use that has transformed me into one of the best at what i do sign up for mastering probability today by clicking 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a two week free trial to the opening call basal's daily trading newsletter by visiting the front page of tfnn.com cancel at any time during that trial and pay absolutely nothing get your two week free trial to basal's newsletter 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 of course directly after the show on most of tfnn the tfnn network is Tom O'Brien got another two hours to go after the show of course in about six minutes but it's not really six minutes because it's politician time which can mean anything from three to 330 right they're going to have a press briefing I guess for the congressional delegation about Iran and when they come out probably going to be at least a handful of news that moves the market around so I think we still have some action left to go today when we we're talking about slack work trading for $40 and 12 cents got to high of 42 low of 3825 and of course today it went DPO which we talked about earlier in the show but at the same time kind of interesting that this thing came out at 26 bucks again too many people fanning the flames of the hype cycle I'd be very you know if you haven't made money by the time you went public there's always kind of an issue this product's been around for a while and you always have to wonder about it I have to wait until these things that are a significant discount before I will play them but at the same time remember if anything turns south the owners have no or the original owners have no compulsion or compassion or even law that says that they can't sell every share that they have tomorrow or even later today if they want it so it's a very very problematic stock there's no way to get rid of the ownership in it much like Facebook a lot of these new stocks are doing it and it's another thing or I may love the product but dislike the stock anyway there's always so when you can not when you have to and we'll see you here tomorrow same bad channel same bad time