 trade what you see with Larry Pezzavento call now toll free at 1-877-927-6648 or internationally at 727-873-7618 now Larry Pezzavento okay looking good Billy Ray feeling good Lewis I posted the chart of the daily chart of silver you can see the big ABCD up there near $27 and then for the past four or five days we've been talking about the possibility of it coming down to the 382 at 2391 that's the 382 retracement of that move now since the 27th of October let's try that again Larry said the 27th of let's try that one more time Larry the 26th of let's try it again April I was in Vegas doing a live trading session for the money show and some of the things that I posted were things out in the future one of them happened to be to be a buyer of silver down there if it got to be to 2391 I said put an order to buy it at 2392 and use a nickel stop and I got a phone call from someone saying you know he's a very active commodity trader and he said you can he said are you he said I don't know what you're taking he said but you ought to change your medications and I said well I'm not I'm on I'm on a high of life I said I don't have any medicated medicated medications actually I take alipurinol if I ever have a little bit of a gout which is maybe twice a twice a year but that that's pretty much it so anyway at 11 30 last night I got a phone call from this dude and he lives back east so it was very late last time it was 2 30 in the morning for him and I you know I answered my phone and and he said I just got filled on the silver at 2392 and I put a five cent stop on it and I said well have you got stopped out he said no he said how much should I look for a profit he said well if you risk a nickel if you made you know five times a nickel 2500 would you be happy he said oh my god would I be happy about 20 minutes later the market rallied up to 2445 it's now trading at 2410 and and he said well he says I know you're just lucky with that and I said you're right I said you know once in a while you throw an acorn at somebody and it it lands in the in the middle of the in the hog pen and the hog gets the eat so I made some type of you know something oh farmer type stuff and it was impossible to try to get him to believe that this is based on some Fibonacci numbers that work and sometimes they don't work but all through this time that I've been dealing with those folks over there I've been talking to them about the weakness coming through and here on the show here let's just take a look here this happens to be where we were here on silver just a day before yesterday actually it was yesterday actually you'll see here that we had the the really nice ABCD pattern for him in here right there on May the third you see and then look what happened we had a beautiful guard leave right here another ABCD and then we had the big move down this is what sets up the 2392 and so that's what's happened but I was just trying to get them to understand the ABCD pattern that you can see so clearly here I mean there's your there's your B leg right here there's your C leg and there's your D leg it measures right here just absolutely perfectly now these patterns don't work all the time we know that but you know sometimes they work now we also been following gold and if we do the same thing in gold and this is the one that we were looking at yesterday I'm going to follow through just to show you you know what actually happened on these because I when I do these videos I try to give you an idea of you know where these areas are supposed to be like a 382 of this move or what the 382 is going to be on the next move that that's all I'm really trying to do so what we'll do now is we will bring up the next chart which will also be the gold market and you'll see exactly what happened with this and this is when we were hitting the fact you can see what happened when we hit the same price in the silver that we did in the gold you'll be able to see this big ABCD that completed right on the money you can see the 1.618 expansion down in here here again I did the same thing with silver and the same thing with gold and it rallied up right up to the 382 and it's been coming down ever since the problem is the gentleman doesn't doesn't take the time to try to go back and prove to himself that these things actually work and until that really happens you know it really doesn't mean a lot of difference whether you you know say something's going to go somewhere or not go somewhere you only have to be right about 50% of the time to catch a good one and then if you can you know that gives you you know a really really good really good edge so remember Mark Douglas his whole focus on learning to be a trader is you've got to have a foundation and trust in yourself of what you're doing because if you don't then you don't have anything and that's the same thing like you were a golfer or bat a perfect example last night I happened to be a Boston Celtic fan because of family we know Larry Bird and I've been a Boston Celtic fan since Habla check and Russell played you know back in the 60s and stuff and they were playing at Philadelphia and I couldn't believe it when I saw the score I don't turn I have it on mute and I I don't listen to this stuff but there was 12 minutes gone in the first quarter and Philadelphia only had three points and the score of the game was 15 to 3 and I called my buddy up that's really a Boston fan and I said what's going on he said I can't believe it he said they can't make a basket they only made three free throws the Philadelphia team well Philadelphia came back and the game went back and forth but what was happening is the best player for Boston his name is Tatum Josh Tatum Jason Tatum he has to be one of the best players in the NBA for the first time in his career nine year career he was 0 for 10 in other words he took 10 shots and he missed 10 shots and he took another four shots and missed those then he got a couple of free throws and the game is going back and forth and he scored like three or four points with three minutes to go in the game he goes crazy and scores six three-pointers in the game takes total control of the game and Philadelphia lost and it was showing you the same thing in trading is going on in basketball you know I could lose I haven't lost 10 times where's wood here's some wood here I haven't lost 10 times in a row in a very very long time it can happen I've lost four or five easily but here's a guy that he loses 14 times and then he makes the six shots that win the game and that's what you try to do when you're trading is you find the ones that line up and if you do those you keep doing him and doing him and doing him and if you believe in it and I certainly believe in it I've been doing this 17 years some of your folks really believe in it too and that's what that's what the whole thing is all about it's just you know picking the ones and keep doing it and you'll and you'll get it right because what we do is a little different than most people you know we're not doing Elliott wave type stuff we're not using moving averages or any of those things what we're doing is finding a pattern that works and if it doesn't work we find somebody else hey let's take a break here eight seven nine two seven six six four eight currencies commodities and bond markets are as important as ever right now with how they're driving the volatility in equity markets across the globe which is why it's a great time to try out Teddy Keg stats Tiger 4x report Teddy Keg stat breaks down the 4x markets every Monday using his 30 plus years of experience as a trading veteran of futures 4x stocks and options Teddy releases his weekly Tiger 4x report every Monday morning with coverage of all the major currency pairs including the dollar index the euro dollar pound dollar dollar Swiss dollar yen as well as many more and he also has weekly coverage of the crude oil market and the 30 year T bonds as they both influence 4x markets tremendously when you sign up for the Tiger 4x report you also gain instant access to Teddy 60 minute webinar archive he just hosted 4x strategies and fundamentals what is behind the Tiger 4x report for all the details and to start your 30 day Tiger 4x report subscription today visit the front page of TFNN.com TFNN educating investors Steve Rhodes started his trading career as a student almost 20 years ago and the student has now become the master Steve won the prestigious timer of the year award in 2018 and barely missed that mark again in 2019 finishing at number two for the year an amazing accomplishment Steve Rhodes is committed to sharing his techniques and knowledge with anyone who wants to learn and he shares his vast amount of trading knowledge every day in his mastering probability newsletter Steve's award winning newsletter mastering probability is delivered every trading day with updates throughout the afternoon sign up for Steve's market newsletter mastering probability and you'll receive access to seven of Steve's educational webinars absolutely free at TFNN all our newsletters come with a 30 day money back guarantee so you have absolutely nothing to worry about visit TFNN.com and try mastering probability 30 days risk free today TFNN educating investors are you looking for a way to consistently add winning trades to your portfolio Tom O'Brien is here to help Tom O'Brien has been successfully trading markets for over 30 years a frequent contributor to TD Ameritrade Network and CNBC Tom O'Brien founded TFNN over 20 years ago to help educate investors just like you Tom's daily market newsletter market insights is published every morning when the markets open to give you the competitive informational edge you need to succeed these newsletters are packed full of Tom's advanced technical analysis and are geared to deliver comprehensive strategies for a successful portfolio get Tom O'Brien's newsletter market insights today and try all of our products and newsletters 30 days risk free with our money back guarantee at TFNN.com TFNN educating investors free at 1-877-927-6648 internationally at 727-873-7618 okay folks I posted a daily chart of the NASDAQ going back about a year and a half and I was the same conversation as I had with the gentleman from oh god I think it's a Boston I can't even remember no it was Boston was the basketball game anyway he had done the silver trade and then I and I said well they're all the same and he said well you sent a chart out on a NASDAQ that I don't understand I said well I said what don't you understand he said well you've got a circle around 13,000 you know 494 and I said yeah you sell it 13,494 because it was a 61% retracement of the high a year ago and it's also 50% retracement of the high in January of last year and he's so I've tried Fibonacci numbers they don't work all the time well nothing works all the time but this is what I'm looking at and I I said okay so what I did was I went in and I went and got a chart that was a just a little bit what I call short shorter term so all I did was I wanted to prove to him see if I can get the right chart up and I know I can if you'll give me just one second I'm sure I can and that's not it that's not it that's not it that's not it that's not it this is it that's not it either well bear with me boys and girls I'm going to get it up here I have to get it up here because it was an important one to look at and I think this is it right here okay so I got up here and I showed him okay now this is and I'm believe me I'm doing this over not over Skype but over emails and so I sent this chart out to him and I said okay now you can see the ABCDs are all coming together and I said you see how the ABCD comes up to that same number 13,494 and he says well yeah but you can't use how much of a stop to you while I'm using 20 points on that he said it's $400 he said yeah that's acceptable he says but this is silly he said the trend is so up he said a this has got no chance of working and I said if my chance did it works I said would you subscribe to for a year of seeing this stuff and he said well I might and I said you know what I think that's a pretty good idea you ought to kick the tires and you know find out what's going on now I found the one that I sent and that's well this one right here but I updated it of course later just to shut the front door and raise the rent and we'll get this up here now and you'll be able to see it now what I did was updated this a little while ago for the the video that I sent out because there was our number right up here you can see that number was one point away the actual high on this was 13,494 and three quarters so you got filled at 94 and of course you had a pretty good break and it's continued to go down so you want to make sure that you lock in some profit but because this is the possible daily Fibonacci number and I'm anxious to see if the Elliott wave people picked this up because I looked at it and not too many people picked it up but let me show you a chart here that we got from Mike our good friend over there in Poland and by way of Toronto but look at this beautiful chart he's got here it's sent by somebody he's one of these people that post stuff on the shocks I forget what's called this is this a diamond pattern basically you know you look if you cut this in half you're looking at a couple symmetrical triangles you're looking at a head and shoulders pattern but Mike is right the thing what he's doing is he's making a prediction that the market's going to do exactly this well all I know is if you get down below that level this doesn't going to make a whole lot of difference because this might be a 382 retracement now I will I will put this in my file because it's so symmetrically perfect you can see basically what you've got here is you've got a one two three four five expanding triangle also known as a three drive to a top pattern then you come down and you rally up and that completes the head and shoulders there's your right shoulder there's your left shoulder the right shoulder is lower than the left shoulder making it a bearish pattern and now it's starting to work in the right direction so whether you're called them diagonals triangles Gartley's butterflies whatever you want to do it all comes out to one thing you and AB equals CD and how much do you have to risk it doesn't make any difference what the pattern is you ask that question how much do I have to risk and if that answer is yes I can take the risk put the trade-on because just like Jason Tatum yesterday 14 straight shots he couldn't miss 14 straight shots if he was standing under the basket but he did and then look what happened how he turned out I one of my favorite Larry bird stories and I got to go to his birthday party his birthday party is always in July because his birthday is on December 7th and it's outside of Tarot there near where my sister's lake was she's in a real nice place now retired place for her and Mike but I've been to three of his birthday parties fish fries what it is and one of my favorite Larry bird stories is he's playing against the Lakers and he makes this shot from the side where he banks the ball off the bank board off the glass that goes in instead of shooting a straight off and Pat Riley the coach of the of the Lakers said bird he said you smelled on that one man did you get lucky and bird looked over and out and he says I'm gonna get lucky twice more doing the same shot right in front of you and he did it he banked it right off and put it right in and Riley never said to him anything again they happen to be good friends by the way but but he was good he knew what he did it you know he was good at it so people that are good at something and can really do it they're not bragging if you remember Muhammad Ali says if you can do it it ain't bragging and that's what it's all about I'm trying to be as humble as possible because I've been through the bragging state part of my life back in 1974 and God came around with her little magic wand to say oh let me tell you about pride and oh did I ever suffer well I didn't really suffer I learned a lot but from 74 to 75 I I learned what hum I learned what humility was the good part was I spent a lot of money on the way up to help with a lot of people anytime someone went debit at the county commodity I tried to help but most of them I was able to help out but I was making so much money at the time you know it was like you know why would everything why would anything change but it did change and I had to learn and that's when I you know picked up that Gartley book and starts sniffing around Fibonacci through my good friend John Hill and you know getting few little patterns here and there and get a little better as I go along had a lot of help along the way with Bryce Gilmore and a whole bunch of other people Mark Douglas especially he's right behind me right now I can hear him tapping me on the shoulder saying don't forget me bubba and I never will anyway that's what we're looking at if you have any questions it's 877-927-6648 and when we come back from the this break what we're going to do is we're going to switch gears and we're going to go and take a look at the grain markets because we were really wanting to buy some grains today they're jumping all over the map from what I saw reports went out a little over half an hour I guess and so there's been quite a bit of movement and we're still waiting for our orders to be hit and I'll I'll show you what they are and you can decide whether you think it's a good idea or not a good idea but that's what we will be looking at and I've got a few other charts here that will also be talking about so 877-927-6648 the gold report as a precious metal gold is still king it continues to hold the most effective safe haven and hedging properties across the global major trading hubs of the London OTC market the US futures market and the Shanghai Gold Exchange the gold report Tom O'Brien publishes his weekly gold report every Monday morning for subscribers consisting of coverage of the XAU, HUI, GDX, the dollar, bonds, the South African rand as well as 25 different mining equities with specific buy-sell recommendations the gold report new subscribers get a 30-day money back guarantee so you have nothing to risk subscribe to Tom O'Brien's gold report newsletter now at TFNN.com everything in the universe is governed by the Fibonacci sequence this mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market to stay on top of stock patterns you can take advantage of sign up for the Fibonacci 24-7 newsletter at TFNN.com when you subscribe you'll get a weekly report from veteran day trader Larry Pezzavento on stocks you need to pay attention to and you can trust Larry's analysis after all he's got 45 years 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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 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 okay folks I posted the weekly chart of December gold corn corn Larry corn December corn and the 78% retracement going back a year and a half almost two years is at 495 now so far we've been down as low as 505 as you notice here over the last few days on this hourly chart you can see here that we made a 382 retracement which we saw coming we came down we made a new low and then we rallied up to exactly 382 retracement of this and now we're starting to come down so we're getting close to that 5 495 492 level in corn that might not come today it might come Monday but the good part is the report is out of the way it was a slightly bullish to the wheat and it was a little friendly sort of friendly to the beans but not not very friendly because they're they're not moving they're not moving up fact everything is moving down with the exception of wheat wheat is the only one that is up and nearby corn is up two cents but the December that we're trying to buy is trading at 505 506 and we want to buy it about 10 cents lower than that it might take a dime you know to get there but that's what that's what we're looking at as we as we watch these things unfold here today okay so that that was the that was the corn chart okay now that we're going to do a couple others here because I think that they're important enough to give us an idea that yep these things may be pretty good down the road here and here's one that we're getting ready for also this one happens to be the hold on I'll get this up here and you'll be able to see it this is the November soybean chart also very I'm not going to give you these act because these numbers are not going to be hit today so I'm going to wait for the videos and do those over the weekend but you can see here we had the 382 retracement here and now we're heading down you know to this level down and this is a four hour chart so it covers a lot of days and we're waiting for this larger ABCD pattern to complete as you can see here it's down today so the report is viewed as a slightly negative on the beans also it was not it was not a report that would what we could say change lives all it tells you is that the the carry out is supposed to be pretty good the problem is has nothing to do with the weather folks this is the fifth 12th of May and believe me I've never in all my years of trading which is seven decades have gone through a year where we don't have at least one or two major crop scares so get ready you know those happen and usually they happen at a time when you're least expecting so what we're waiting for now on this November beans is for them to get down just a little bit lower you can see we're sitting at the 1.27 of this level if you want to do the work yourself just do that at 1.618 and it'll give you a pretty good idea of what you're looking at on that particular one for a potential buy and there's one other one that is really on my on my watch list and you'll give me a second here I will get this up here and you'll see it we're not quite ready and well hold on just a second layer let's get this get this little puppy up I'm not going to draw the patterns in because that's what my job is when I do the videos but let's get this up here and hope it comes out the right way and it's coming out the right way this happens to be July soy bean oil folks this was the commodity that was my game changer that changed my life this is what I was first starting to learn Gartley's after I had the book for since 1970 after I lost all my money in 74 I studied it for a year and a half only pages 200 to 250 and learned what those patterns meant and then John Hill showed me how to use Fibonacci numbers and how to put the patterns in I gave him some names like butterflies and Gartley's and stuff like that but they're all ABCD's and as you can see here we're headed lower and that's exactly what you want to have happened because you're going to have eventually here in this July soybean oil a three drive to a bottom pattern in 1975 in January my two mentors Oscar McClure and John Herd two commodity professionals that traded only soybeans there at Conti commodities had befriended me because I used to give him some free vitamins for me like Lily and they shared a bunch of information they also were friends with Jim Haddaddy and Earl Haddaddy and Jim Sibbot so and Dave Nelson so they were giving me a lot of good for information and they were saying that El Nino was coming and that means there was going to be a drought and beans and was going to go up and and the soybean soybean oil was trading I think it at ten ten ten dollars a pound I mean here it's about 50 some five to ten times that well was it was ten times higher but now it's five times higher but I bought those and and I start buying them for a period of about four or five months and then when the market exploded to the upside and they went up about ten times that made it a really really good one so I have a great deal of affection for July soybean oil in fact my the Porsche that I bought I had I used soy oil as my moniker that was a really bad mistake folks in Southern California S O Y space O I L these with the old black and gold ones do you know why because there were so many people from Saudi Arabia thinking I was soy oil with Saudi Arabian crude oil and it was it was vegetable oil so I got a bunch of bunch of flak from that but I saved the plates and I've been using I use 300 gold for 15 years because when gold was at 800 I thought it was going to go to 300 it went to 250 but I had 300 gold when I first moved here to Arizona and then Arizona 300 gold was taken and so I had to get a new license plate and I picked through my good buddy Jim elder I picked no risk and so because I'm always talking about risk and how important it is because when you put the trade on you ask a simple question can I afford to take the risk I don't care what the trade is you could be two flies landing on a watermelon can you take the risk of whether which direction they're going to fly off of well if you can yeah take the risk so that's that's basically what is pattern recognition is telling you that hey this is a pattern that may or not work it works probably 60% of the time but the payoff is going to be three to one that's what that floor trader handbook does folks that 90 minute video proves without a shadow of a doubt all the work that Mandelbrot did on fractals and also with Gardley all that stuff tells you that ABC these work but they don't work all the time and you got to look for the signals that tell you that they don't work all the time and that's what we try to do here is to give you ideas but right now this is just a normal pattern that looks absolutely spectacular frankly it looks like one that could be really really good one whether it's going to be today tomorrow the next week I don't know but all I know is coming down now and that's that's what you want to see if you want to see it get moving to the downside and that's what we're that's what we're hoping we're only down seven cents in the corn the soybean oil is down quite a bit it's down a buck and a half 140 points which is good because the November soybeans are down 21 cents that's good they're getting close to where they're supposed to be so all this stuff is going to be looking really interesting come Monday because the report slightly bearish but believe me slightly bearish this time of the year means diddly squat do you realize that climate change sometimes doesn't change like you might think it does hello operator thank you Al Gore we'll be right back 877-927-6648 you might think that if you want to be successful at trading in the stock market you're going to need a crystal ball after all it's impossible to predict the future right like any endeavor in life before you decide it's impossible get some advice from the experts you might find that it's not so impossible after all for daily market overviews that give you direction on the key indices selective stocks and commodities subscribe to the opening call newsletter at tfnn.com the opening call newsletter is written by Basil Chapman creator of the trading methodology known as the Chapman wave the Chapman wave up down sequence gives you an edge in identifying price turns finding the peaks and valleys and stock prices get the opening call newsletter by Basil Chapman and your inbox every day first time subscribers also get a 30 day money back guarantee if you're not satisfied let us know and you'll get a full refund within 30 days of signing up tfnn.com educating investors are you looking for a way to consistently add winning trades to your portfolio Tom O'Brien is here to help Tom O'Brien has been successfully trading markets for over 30 years a frequent contributor to TD Ameritrade Network and CNBC Tom O'Brien founded tfnn over 20 years ago to help educate investors just like you Tom's daily market newsletter market insights is published every morning when the markets open to give you the competitive informational edge you need to succeed these newsletters are packed full of Tom's advanced technical analysis in our gear to deliver comprehensive strategies for a successful portfolio get Tom O'Brien's newsletter market insights today and try all of our products and newsletters 30 days risk-free with our money back guarantee at tfnn.com tfnn educating investors biotech is booming but for how long whether you think the biotech bull has room to run or has run its course trade LA BU or LA BD directions daily S&P biotech three times bull and bear ETFs visit directioninvestments.com slash biotech today an investor should consider the investment objectives risks charges and expenses of the direction shares carefully before investing the prospectus and summary prospectus contain this and other information about direction shares to obtain a prospectus or summary prospectus please contact direction shares at 866-476-7523 the prospectus or summary prospectus should be read carefully before investing and investment in the funds is subject to risk including the possible loss of principal the fund are designed to be utilized only by sophisticated investors such as traders and active investors distributor four-side fund services LLC this program is brought to you by Vista Gold traded on the NYSE American and TSX under the symbol VGZ okay folks you can see here the ABCD pattern down at six dollars and four cents per pound per bushel and we rallied up sixty some cents up here to 670 look at this we came right down to the 61% retracement of that excuse me and you'll notice the high today so far has been the 61% retracement of the high over here so if you think Fibonacci numbers don't work you know sometimes they do sometimes you don't here's another ABCD pattern right here you can see three little drives coming right into the 61% retracement report comes out rallies all the way up to here now it's trading down into this area right here so those are the main ones now the grains do look a lot better than you might think it well I'm just telling you my two cents worth because that chart on December corn is a flat-out bullish chart the question is are we going to make the last ten cents to the downside the fact that that's not rallying much today tells me that yeah we got a pretty good chance so we'll be paying really really close attention now because you've been so nice to me today we're going to take a trip across the pond and we're going to go over to where they trade the German Dax which is over there in Denmark and the UK and all those other nice places I don't think they do too much in Germany but I don't know I know they trade the S&P but this is the the German Dax you can see the pattern and then this is a short-term pattern of course but the you can see the patterns there's your one three five on the downside there's your large ABCD there's the rally that we had and then from there of course this was early and then it sold off from that level next we're going to take a look at the footsie and that's been one that's it's talking about a colorful chart we are our good friend Alan Smith over there in the UK for sending this chart but it shows you the beautiful color of these patterns and this is what I used to make these charts and my daughters used to color these in with their little crayons and take their plastic scissors and you know put them on the refrigerator I wish I'd saved some of them but I frankly I frankly didn't do that oh I had one other Larry Bird story that my sister said I ought to tell that is in 1980 when they were playing Michigan State for the championship we all went to Utah I had the whole family from Tarot come out and I drove my I had a new car and I drove it up to Salt Lake City and I got a ticket on the way up and the guy would like the car so much the state trooper that he he didn't he didn't give me a ticket it wasn't it was it just it was a Porsche nothing fancy but anyway when we got there I had been following Larry Bird because I didn't only for about six months because I didn't think he was as good as everybody said he was so because they were the finals we went took the whole family there spent a week and when we got there they had some parties and one of the things they were doing is Larry's mother needed false teeth and they were trying to get a donation to to you know to get false teeth and I told the guy that was doing the thing I said look I said let's just let's just buy the false teeth don't don't even don't it's not going to be that much is and you see how I said let's just do that and so I helped pay for that and he was very appreciative later on I got to meet him a few times but that was my my one of my Larry Bird stories there's a couple others that were that were quite of quite funny but let's move he lives down in Naples Florida I guess he's a neighbor of Mr. Norman Winsky who lives down in that area also okay in fact is the reason why Larry Bird got to Indiana State University because he was at IU and he got didn't like the college environment there at IU and so he went back to Springs Springs valleys where he lived in French lick and a couple years later they recruited him to come back to Indiana State my good buddy Bob Thompson was in charge of that and that we lost Bob two years ago to Alzheimer's but he was the one that got Larry Bird to come to Indiana State okay let's get another chart up here you don't want to hear all that stuff I got a lot of memories about it but who knows I think that was the main well this is the big one folks this is the big one and we've been banging the doors on this for quite a while and now the door has opened everybody's finally realizing that the trend is down now in the euro and it's been dropping and big move in the dollar pushed the gold down quite a bit and also silver but we hit this 61 we went through the 382 of this move already folks which is a pretty bullish or very signed for that for the euro so that tells us we're probably gonna have a little bit more movement on the upside here to the US dollar IE lower on the the on the euro currency we took most of it out but we missed the last 50 pips or so but we got that first 140 150 pips in and then of course I covered right at the ABCD pattern that looks so beautiful and it was beautiful for a while but then what happened was it didn't turn beautiful and so this is one of those ones that when it doesn't work you get out of dodge and you move on to something else but we got the rally here the problem was the rally only got to the 382 right here that's all it did it was so bearish that it got to this 382 and then it went below and then it just started to hammer and then whatever the report was today if that's what did it and it started to go lower we're going to have some great volatility coming up here folks so keep your powder dried is always going to be a new trade coming around the bend without too much trouble you'll be able to find some of these patterns so that they line up and we were going to have Mike more on today but not time to not allow it but he was talking to us about the bearishness that was being portended in the crude oil complex and as you can see here those of you that follow those 382 patterns you can see them right there they're just absolutely they're really magical the problem is like I say they don't always work and you got to remember that but you know why they don't work because if they worked all the time everybody would see it and that's it I will bet you a nickel to a nickel to a let's see a nickel to a quarter that no one in any of these technical magazines come out is going to point out those numbers that we looked at in the NASDAQ today at 13,944 I don't believe that you're going to find that on any of the these if you do please let me know I would like to see that someone says yeah well that might be an important day hey it might even close higher today I don't know you know because we were down big timing nothing disaster there's not a crash or anything just had a big move down that that's all it was and you know it has bounces and stuff like that we're only down 150 in the Dow down 24 handles in the S&P down a hundred some in the NASDAQ so it's not a it's not a big deal so that's what we're paying attention to here today so we've got to pay a few bills coming up and then when we get back I want to review the second part of the gate of the second hour today folks I want to we want to look at some stocks and because specially because some of these banking stocks if when I listened to a J Jamie Jamie diamond yesterday that that boys flat out bearish and I wonder why so hey we'll be right back 877-927-6648 if you're looking for potential trading setups in the stock market then rocket equities and options report is a newsletter you should try Tommy O'Brien delivers options and equity trades when the markets present them using a combination of fundamentals and technicals sign up for rocket equities and options report today with a 30-day money back guarantee so you have nothing to risk for all the details and to start your subscription today visit the front page of TFNN.com TFNN educating investors you might think that if you want to be successful at trading in the stock market you're going to need a crystal ball after all it's impossible to predict the future right like any endeavor in life before you decide it's impossible get some advice 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traders sign up today and become a part of this educational community of traders just visit the front page of TFNN.com don't forget you can listen to TFNN live on your mobile device 24 hours per day go to TFNN.com then hit watch Tiger TV that's TFNN.com then hit watch Tiger TV okay we're back folks and I hope you realize that you know Larry Byrd and I are not good friends he probably recognized me in a crowd but that's about it I didn't get any tickets from Larry Byrd in the years the 12 years that he played for the Celtics the only time well one time that was in the 1992 when it was the All-Star game that's when he was there was last year and he was retiring and I owed someone a massive favor and they wanted to go it was in Memphis and they wanted to stay at the Peabody Hotel that's where the little ducks come out every day at noon and they feed the ducks it's a five-star hotel down there in Memphis and so I set up in our arrangements to stay a few days and I needed tickets for the All-Star game so I asked Bob Thompson who was Dean of Education there at Indiana State University and who was a friend a very very close friend to Larry Byrd because he got Byrd to come to Indiana State and I said I need two tickets and Bob said we'll get him and the only tickets they could get folks was right behind the bench for the All-Star team for the Eastern All-Stars where he was one of them and it was really really quite exciting and anything but that's the only time I mean I saw other games where I got tickets but not through not through him and I I don't think I've seen many professional basketball games since I left LA I used to see a bunch of them during the 60s and 70s when I was down there with Jerry West and Will Chamberlain and all the other Elgin Baylor there but not too much anyway let's just move on here to another one to look at this chart is important folks this NASDAQ chart if it goes above here I'll be a buyer that's all I can tell you forgets above that today's high 13,000 394 whatever that number was if he gets above there then boy oh boy it's gold hey let's take a break be right back another show