 The following is a presentation of TFNN, the power trading hour with your host David White. Call now toll free at 1-877-927-6648 or internationally at 727-873-7618. Now David White. And welcome all to another excellent edition of the power trading hour. And there it is, I was looking for something here because someone asked me a question and I will answer that question here in just a minute. If you just joined us, you did the right thing because you knew it was the right time of day. And the following takes place between 2 p.m. and 3 p.m. So what do we have going on today? Well we had one of the, well I'm going to say two different things. We had, let's get to my slide here, we had one of the highest rates of shorting that I've seen in a long time from about 12.30 to about 1.30. And that was about 70% of all the orders were coming in short. And I had someone ask me a question of how you know that. Well by the exchanges every and I think a SEC regulation, short selling has to be labeled. So when the, if you go back to the order of time and sales and you have the right broker you're going to actually see that it was a short order. Because if they are short at any point you don't know when they covered it. But you do know that they shorted. But you just see all the flags fly through and you can see a great deal. We don't talk about it because generally it's kind of, I don't know if it's a lost art form or something that just takes a long time that maybe is tougher to do today because of the high frequency trading traders. There's a great book if you want it on tape reading and it's from Jesse Livermore. No, yeah, Adventures in Tape Reading by Rolo. Yeah, there it is, Adventures in Tape Reading. I thought I was thinking Jesse Livermore. It's by Richard Wycoff. You might hear me talk about him from time to time. But of course he's the patron saint of price and volume trading. But he wrote this thing under the pen name of Rolo Tape. He's got some, what is this? The Kindle version's three bucks. So what can you say? I'm not going to spend a lot of time, like I said, I learned my stuff when it was easy before 2007. High frequency traders weren't everywhere. Change in the regulations allowed them to go hog wild on all the computer stuff, so much tougher to see now. If you go to also, if you want to figure out, if you wanted to make a simulator, which I've always thought about, so you can just spot it. I mean, I can just sit there and watch now and pretty much with the cadence of it. Tell whether or not people are coming in heavily shorted. But if you actually go to the FINRA website, they've got all the data for the month. And you can go back and watch and add them up and see what happened. I always thought now that you have the data and it's free, you could go back and make a simulator and see whether or not you could actually see the shorting. But it's been pretty good at showing stuff off. But yeah, generally, when everybody starts shorting, it doesn't mean you're going straight up, but it does mean you're probably finished, for the most part, going down. But we shall see what happens by the end of the day. But I suspect we continue to see a great deal of heavy shorting in the market. Again, for what we're doing here, we probably should be at around 10 billion shares if everybody was being spooked out of the market. And we're doing about 6.8 billion shares on the CBOE consolidated tape. But keep an eye out for that volume as we go into this weekend. But generally, a big thrust down a light volume is fairly bullish, at least for a handful of days. And of course, we've got a three-day weekend. But we also had some other stuff out there. And that, I think, drove the market down. At about 12.15 or so, we had CNBC reporting that the Wall Street Journal had said that the invasion has started. And then they never really said anything more about it. And of course, the Wall Street Journal retracted the story. But it kind of hung over there for the hour. And I think that's what really got people to throw a lot of money at this market in the last 10 points. It was going to be down, or it was going to be down today. So just a few things out there. But we're going to look. Options have been rather bullish compared to where we're at. Let me see if I can bring something up here that I was looking at here. Generally, I point to Apple. Get that out here. And up here. And today, a pretty good indication that it wanted to expire right at 167.50. What are we at now on Apple? 167.15, so maybe a little higher than that. Now that we've been lower than that for a while, maybe they sold enough. This is from about 11.30 in the morning. I was hoping that we'd get a little bit more movement on Apple to start setting the hook. And that's kind of it. But now you've got a pretty good indication this thing wants to expire probably 167.50, 168-ish around that level. But you've got a hook right at 172. 170 also, he said. So keep an eye on that. But a lot of these are probably got a lot of people short. And if the market just goes real light, you could have a nice push into the end of the day. I put one out in the newsletter maybe a little early and also got that false article from the Wall Street Journal. But I think it could still pan out at the end of the day. Generally, these predictions from options are kind of like a drunk. He may be all over town all night. But by the end of the night, he finds himself in bed. So you know where they're going to be. So sometimes you are a little early. Sometimes you're a little late. But generally, a pretty good indication of where they're headed by the end of the day. And of course, as we said, three-day weekend, we will not be here Monday. So if you show up at 2 o'clock, it won't be the right time, one of the few times. But that's pretty much it. 877-927-6648. You can email me at path at tfnn.com. But yeah, ol' Otis always found his way into the Mayberry sale. But that's it. Anyway, way too many shorts I suspect for Friday going into options expiration. I watched that last 30 minutes of the day. But I think the lows are probably in. And the question is, will everybody want to go short into weekend? We've had a endless procession of people saying that the evasion is imminent. And each day we wake up and it's not. We'll be back in a minute. Are you grinding in the market, but seeing little to no return? Or are you a successful trader simply looking to make your job a little easier? Learn to take the path of least resistance with David White's powerful trading newsletter. David White is an accomplished trader whose deep understanding of technology and the markets allows him to consistently find and share winning trades. Support and resistance define the ranges in which stocks trade. By understanding these trading ranges, David White is able to find the path of least resistance. David White's trading newsletter, The Path of Least Resistance, is delivered daily before the markets open to make every trading day an easy win. Visit tfnn.com today and subscribe to David White's ultimate trading newsletter for $119 a month and try all of our newsletters risk-free with our 30-day money-back guarantee. Take the path of least resistance at TFNN, Educating Investors. What's separating you from the most successful men and women on Wall Street? That's right, information. Having all the information gives us the perspective we need to place the right trades at the right time. The TAS Profile Scanner is the premier market-profile-based scanner. Powered by its acclaimed TAS proprietary algorithms, this feature-rich scanner instantly filters over 2,500-plus global financial markets such as stocks, ETFs, commodities, futures, and forex. This powerful suite of tools leverages instant trade filtering and strategy formulation to show you emerging trades before they happen. For a limited time, you can save $100 off your first month by using the promo code UPGRADE, and you still get a 30-day money-back guarantee so you have nothing to risk. Level the playing field with the TAS Profile Scanner, which you can find under the services tab at tfnn.com. Sign up today. Sharpening your skills as an investor is like getting better at playing a musical instrument. You have to practice, sure, but you also need excellent instruction from experts. At TFNN, you'll get advice and guidance from the authority and technical market analysis, and it's not just dry, tedious text either. TFNN airs live financial content streamed live on TFNN.com and TFNN's YouTube channel with Tiger TV, live every market day from 8.30 a.m. to 4.00 p.m. Eastern for free. Each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world. From the moment the market opens until the closing bell sounds, Tiger TV has eight different shows with expert hosts to help you make the right moves with your money. Watch online at tfnn.com or on TFNN's YouTube channel and become the investor you were born to be, TFNN. Educating investors. Toll free at 1-877-927-6648 internationally at 727-873-7618. As we return at one of my first questions of the day from the email, asked me why I thought the bias was bullish till the end of the day and it pretty much was from this morning. The option market makers are not going to make their money back today but they're not gonna let it get a lot worse. So generally what they'll do is something exactly like today which is maybe some phony press releases. I always wonder how many of these guys in the financial press or just the press just make stuff up to get eyeballs but it seems like options expiration. You tend to get a lot of exuberance and also depression kind of articles out there. I don't think it's going to 450. We're looking at the spy options for today but I do think the bias is that way. We could easily see 4375. This morning it was showing 4,400 was probably kind of likely and with all, like I said, we had one of the most heavily shorted hours between 1230 and 130 that I've seen. I'm gonna have to go back and look and see if anything just on a percentage basis was just massive and generally that is a good sign that you're gonna get at least a short term bounce out of the markets. And going into a three day weekend if you've made a lot of money being short you wanna go ahead and just take the money and see what happens on Tuesday. A lot of people, especially shorts, tend to be more high frequency traders and tend to run fairly quickly when the market starts turning against them which is a good thing. That's how you keep your money being short but we'll keep an eye on it. Anyway, 877-927-6648. I think I can, I think I can. I think I can. On the market anyway. Okay, what else do we have? A little history. And it's all just a little bit of history repeating. On this day in 1977 the space shuttle orbiter The Enterprise embarks on its first maiden flight in captain mode attached to the top of a Boeing 747. Riding, I can't say the word. The flight is the first of five captive flights before the orbiter is finally released to land on its own. The nine month test program is conducted through 1977 at Dryden Flight Research Facility to demonstrate the orbiter can fly and land like an airplane. The Enterprise, why the first shuttle to fly was not the first space worthy orbiter. But of course we all know about worthy, right? Oh, went on the wrong side. And of course it caused a consternation between everybody on the original Star Trek series because James Kirk couldn't be there. There's a famous picture and all of them were all upset. He was busy off filming some movie. Oh, it was like a B movie. I'll have to think of it now. It's pretty funny. But everybody kept, was just absolutely on that show, was absolutely mad at him for the rest of their lives because he didn't show up when this thing did land and they took the picture. But he was actually out making money. So he probably a little happier. Something mama, the gal that played, someone will eventually tell me, but it was the gal that played the blonde police officer lady in the 70s or early 80s. I can't remember her name now. I will. Anyway, we'll get on to the market already in progress over most of TFNN. Let's get back here to some charts. And we'll get on with the show. Okay, let's go ahead and pull up some. Ah, two, two, two, documents, skins, earnings, there we go. So winter, winter chicken dinner for blooming brands, although they gave a great deal of that back, it's still higher on the day. You got some decent volume and it is a breakout, not on a long term, but at least breaks you back up into the 27s on this and depends on how things are going. But a good looking day for them. So we'll give them a winter horn. And of course, a lot of others not doing so well. On the opposite side is Dropbox. As I said, I've never understood how this thing does anything but go sideways. Maybe it gets bought out one day, but even then not a high probability, just a little spinning top on that one today. John Deere kind of had good earnings, but not received real well. I haven't had a time to check it out. You've got volume, but it's not blowout volume. I think the trend is you're just at the bottom of the trend here and maybe more of a market issue than the individual company, but we'll have to keep an eye on that one. But hard to think that going into summertime that people are gonna be buying any less farm equipment with farm prices at highs. DraftKings, as we said yesterday, our bookie was coming in this morning and not doing so hot went and challenged the previous low. Still needs four cents to get down to the January 24th low. That had 40 million shares. You already have 57 million shares. So you've probably got a 90% chance that it's at least gonna hit that maybe on Monday. That's the $17 or Tuesday, excuse me. $17.41 cent low, but a big gap and a ton of volume on the day. Any close below $17.41 is a big deal for them. We continue to have a market. I think I can, I think I can. $43.63, $83 on the S&P 500, my last tick. And again, anything can happen on expiration. I've talked about this one for years. I never understood how it made money. And now I understand that it doesn't exactly the way everybody told me it did. I didn't buy the story to begin with. This thing is, well, what is it? One fifth the price that it was when I was saying I didn't understand it. Now the problem was you had a high volume at that high or I would have pulled the trigger short on this thing. So you don't, price and volume doesn't always work, but it keeps you out of the worst problems in the market. So you did have a high out there. Some people are gonna point to that and say it goes and gets retested. I don't put that at a high probability on this. Again, interesting company. They make, they probably will make some money. I just never understood the idea that these guys were printing money, which is, you know, 480 for the stock was something the equivalent of being able to make semiconductors and have 500% margins on it. It just never made sense. And I was telling somebody in the den this morning, this thing, I always thought that they may have started to make money by just forcing channels onto your home screen when you turn it on because that seems to happen to me all the time. I have to go back every week and delete a bunch of them off of there that I have no interest or ever will pay or have. And it just clouds up my home screen. On my Roku TV. Anyway, you're back to the gap right here. Pretty much a hundred, my guess is that it's that on Tuesday and you're gonna get a test. You had 10 million shares last time. We'll talk more about this when we return. 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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. We return thanks to the engineer who did tell me what's in. It's Angie Dickinson. He was filming Big Bad Mama II. The classic follow-up to Big Bad Mama from 1974, your basic skin flick that went straight to the drive-in. And of course, no one remembers him for those movies, but interestingly enough, everybody hated him from Star Trek, William Shatner for that. But I think he's smiling all the way to the bank year after year being in hit TV shows and some movies. Yeah, Shatner and airplane too. I know he was a good guy. Anyway, the market continues to move. As I said, I was kind of thinking 4,400. Yeah, 4,400 today. Maybe it's here. Can't remember what I put in these things sometimes. Okay. Anyway, looking for, I think I was actually telling one of the fine ladies in the den about where I thought it was going this morning. But she's gone. I think she left already. 877-927-6648. You can email me at path at TFNN.com. You can also put a message in the den. Mimi says, Cisco and MGM. We'll take a look at that real quick. Two, two, two. Yeah, wasn't that bad? I think everybody's gonna start looking past the supply constraints and know that if they want a router that didn't instantly compromise by the Chinese, they probably are gonna have to get a Cisco router. The rest of them made in China all having kind of a problem with that. But what can you say? Okay, I'm just going through all the emails here and see what else we have. Okay, Shake Shack, starting to clean itself up. Again, I'm not a big fan of this, but maybe it was a little overdone this morning just because of the market itself. It's getting back five bucks. And not so bad. I don't think it's, and I just think this thing's probably trading in a range from just under 80 back to that $58 low back on January 28th. Oh, we were talking about Roku and I got distracted. It's back to support, but as I said, pretty light volume back here. This gap goes back to March, April. April 14th of 2020, gapped up on 23 million shares the next day at 18 million shares. So you're back to 53 million shares today. Pretty much tells you that probably sub 100 is certainly available for Roku. And if you got any questions in the den, take a look at it. But we showed the spies. Again, that's going to be the bias into the close today for options expiration. And next month, of course, is a triple witching. And that's all over the place. So very tough to get. Questions about Intel from Randy, R-I-N-T-C. R-I-N-T-C. Yeah, I'm never exactly sure how this thing got to 67 bucks. Nothing actually fundamentally ever changed in it. And we've talked about for the last two or three years why I didn't think much of it compared to AMD and Nvidia. All of these companies, well, Intel doesn't, but AMD and these others do have kind of a discount based on the thought of China invading Taiwan. Why I would only be playing these with options these days, much like the Chinese stocks before they're cratered that everyone wanted to be long. Just if you see anything out there by the option on these things, and that way you don't have to worry about actually losing any more than what you put up up front. And if you can't, I wouldn't want to be in one of these individual ones with heavy reliance on Taiwan itself. Let's take a quick look at the SMHs. VanX, you got kind of a nice little doji hanging out here. What else do we have? I think that's kind of it. You got your basic options, expiration. They ran everybody out this morning and at lunch and now. It could go a little higher. Yeah, we'll keep an eye on that. Okay, let me update this just so I don't say anything wrong. 43.72. Okay, let's see what we have. Okay, questions about Redfin and GE. General Electric, it need now a kernel or just a lieutenant. I think he probably should have given up at least a couple of ranks for being bad, but you got a big, you can't Dan candle out here. Again, I don't know what else you could say about this other than it's a big candle down. You're probably in a bigger trading range back down to this 88 level for the first test. I don't see any reason why it would want to climb. To RF, or RDFN, the real estate company. Of course, higher interest rates don't do you any good. This got blown out this morning. And a major haircut. We'll give it the loser horn. But there's one thing, especially in Florida, and that is boom and boom and doom in the housing market over the years from the 1926 bubble in Swampland around Miami that actually did end up getting drained eventually and people had it. But you only had to wait 50 or 60 years I think. But certainly that's a pretty good indication you blew through some long standing gaps that go back to May 18th of 2020 in Redfin. And that opens up a lot out here back to the $12 and $10 lows. What's that? March 18th, 2020, just a scant two years ago and gives you the idea of some of these stocks and the bubbles that they have. What else do we have? A question about MU. What do we see for options on it? See if I can dig in back here and find it. No, I don't have it up. Sorry. That's not what I was talking about. We'll be back in a minute. Give me a call. Great to start looking at a market where you get a little action on options exploration. We shall see. 877-927-6640. Are you in the market for buying or selling real estate in the Bay Area, including the surrounding St. Petersburg, Tampa and Clearwater markets? Tiger Real Estate LLC is a firm that has extensive experience in the Tampa Bay Area. 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Continue that to about unchanged on the day for the S&P and that the shorts piled on along with anybody that was playing the first bounce, they wanted out quick. So now we need to wait for the second chapter of this book of squeezing on expiration day to finish up. But I suspect that the people that reshorted it about what 4375-ish are probably gonna be covering again here shortly. Just generally if you can't blow it out by the time it gets to two or three o'clock, generally it's just a slow squeeze and move higher into the end of the day. And a lot of these things just have a ton of people short and maybe they'll blink. I think they're gonna blink before the longs do. I think pretty much everybody saw the worst today. It's gonna be very tough to get them to sell before the end of the day. And again, phony news earlier at lunchtime to really drive it down. Pretty good indication that you rang out all the easy and weak hands in the market. Question about Micron. Yeah, not a lot of volume out here. You almost retested the previous high with the same amount of volume still, a probably the strongest stock in the semis up here. Question about CCJ being off a little bit today. Just a pullback actually. We've talked about this the last few days. If the market does look good on Tuesday, this is not a bad looking chart. You gapped up on earnings on the ninth. You did so with 12 and a half million shares. You're back into that same gap now with two million shares. So, if you're talking about things that are out there like gold, there's gonna be a handful of other companies out here that also are probably not gonna look very bad. You may get a little bit more on Monday or on Tuesday, excuse me, I keep on forgetting. We are closed on Monday, but that would be it. 877-927-6648. Will we look at NVIDIA? I don't think we have yet, NVIDIA for Jonathan. Not much going on here. Move along. I don't see anything in there other than maybe a little lighter volume than the other day. And this thing's just in a big trading range here from 280 to 240, and that's why people like it. It's a mover. Question about Tesla. I wrote a little bit about EVs in the tech insider today. My worries on it. There's a ship full of EVs on fire out by the Azores. And I think this is just gonna be something that continues for a long time. These things will occasionally just catch fire at about 10 times the rate of a gasoline car, but an entire ship full of Porsches. Well, I don't know if it was entire, Porsches and Volkswagen's, but apparently there were 15 of those $250,000 Carreras on the ship coming here for the spring. They're gonna have to remake those. Yeah, everybody just took off and abandoned the ship, but the EVs are gonna be a fire hazard and yet another burn, baby burn for EVs for Tesla. The only thing I can say about it is pretty interesting to have Tesla go toe to toe and diss the president and the prime minister of Canada in less than a week. So, he's certainly punching above his weight. Isn't that the saying fighting above his weight? I think it's more of it, but certainly fighting above his weight. One because he got dissed by the White House for not showing up on EV Day, although being the biggest EV manufacturer. And the other thing is he doesn't like the Canadian prime minister because he's going all, well, he said it, High Hitler on cryptocurrency. So, what can you say? Probably not the best thing to do long term. Short term is everybody will find and continue with him. That won't make him lose his followers. Let me put it that way. Okay, anything on planet here, PLTR that I see is that finally made a low. For my understanding, PLTR, right? Yeah, there it is. Everybody, I don't know because I haven't checked it out and I'm not in the stock. So, I haven't spent the time on it. My understanding is that Cathy Wood is still selling. That's what I saw this morning. Who knows if it's true or not, but sold a bunch last week and maybe be selling more what she has. Again, this is probably a good time to start raising cash. As people sell, of course, she has to sell. She doesn't really have a option with those ETF kind of things. That's what you have to do. So, I'd be worried if she's got something as a large position always gonna be problematic. Question on dust. DUST. Actually up a little bit today and just kind of a bounce in the downtrend for it for being bearish on gold. I wouldn't be bearish on gold. And a question on the TLT. Well, we had a few things. We had the Fed start in early on Wednesday and throw some cash at the bond market. They continued through yesterday. Now we had a market that really got pounded down. So those folks went from the front of the Titanic to the rear of the Titanic in bonds. But yeah, pretty light volume bounce so far in the TLT today with 11 and a half million shares compared to some down days on 23 million shares like the 14th. So yeah, you're gonna continue to have a lot of back and forth and the Fed didn't want a trap door in the TLT but we're less than about 10 days away from them saying they won't support it any longer. And the question is, what does it do if they truly back off of supporting that market? Yeah, AMD is on the bright side of life here after being down to 109, could this be an ABC? The one thing I dislike about this is that the energy down was pretty significant back into this. It may be something, but I probably look on something or want something that didn't have as much energy on the down leg as this did off the 132.96 high. Earnings were good. This continues to be actually a massively shorted and hated stock, but I don't think that there's a lot there right now. So what are we doing here? Almost ready for the end of the day and markets decided to roll on me. I thought we could get back a little higher. Down 20. Sharpening your skills as an investor is like getting better at playing a musical instrument. You have to practice, sure, but you also need excellent instruction from experts. At TFNN, you'll get advice and guidance from the authority and technical market analysis and it's not just dry tedious text either. TFNN airs live financial content streamed live on TFNN.com and TFNN's YouTube channel with Tiger TV live every market day from 8.30 a.m. to 4.00 p.m. Eastern for free. Each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world. From the moment the market opens until the closing bell sounds, Tiger TV has eight different shows with expert hosts to help you make the right moves with your money. Watch online at TFNN.com or on TFNN's YouTube channel and become the investor you were born to be. 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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. The end of the day. There we go. As we get ready to wrap up the day, we're down 11 points, the last tick I see. Getting kind of jiggy out here. As we started the show off, we showed some of the charts in the SPY. I thought earlier in the day, 4,400, is something that could be done on today on options exploration. They've done pretty much all the kind of tricks that they've done in the past on options exploration. Phony news stories, heavy shorting to drive everybody out at the bottom. Pretty much everything I see on these kind of reversal days. So yeah, I'm sitting on, I got some questions from my subscribers. Yeah, I'm gonna sit on my hands till the close for the options, because I think that's probably the best. And then I'll probably exercise them. My guess is that if you go to sell them, you're probably not gonna find a bid on the other side. So just exercise them and then get right out. Just go ahead and sell it instantly, which is, a lot of times though, maybe we'll say your options should be worth two bucks because it's two bucks in the thing. They'll give you a buck 50 on days like this or going into options exploration. You won't get the other person. You can always just call your broker up or if you've got it on your screen, exercise the option and instantly sell. And that gets you out of it and doesn't let them cheat you of that. And you can go and complain till you're blue in the face, because I've done it. And nothing will happen in the market when they screw you over like that. But you can always buy it and that does force them to actually take the full loss and give you the full gain. And generally, if you've got a good broker, he'll set you up on being able to do that and get out, even if it's a hundred. So when you can, not when you have to, we will see you Tuesday again. When I return like MacArthur to the Philippines, sell what you can, also cover when you can. See you then.