 The following is a presentation of TFNN. Power 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, humble, humble, humble. Just got to take, sometimes you got to take a deep breath. Lovable, inscrisibly 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. As we start the show, we're off 17. And a little, almost 18 points on the S&P cash. Dow is off 194. The Nasdaq's off 40. And the Russell's down 10. When we look at some of the other stuff like crude off 27 cents, gold up 6 bucks. Silver up, down a penny. So we look at that. Then we go to the dollar index. Take a quick look at, not much movement there. 96.62 is the last take I show on there. And of course we've had very light volume. The last couple of days. So it didn't look like we had much on the way up. Well, we don't have much on the way down either. Just 3.6 billion shares on the CBOE US market volume summary. So again, no volume up, no volume down. Few buyers higher, few sellers lower. There just isn't a lot to hang your hat on in this market. Other than, is that it? There it is. I wanted to update. Yeah, down 18. So I want to make sure about that. Look at it a handful of other things as we start the show. And again, a lot of pressure on a handful of stocks. But Boeing's still kind of hanging in there at the support level. 368 although there's a lot of news on that one. So we've got a lot of charts to look at. We're going to see how these stocks that couldn't go higher yesterday are going probably lower today. I've got a full list of them. Why don't we do a little history? Then we'll get to those charts fairly early on. You can always give me a call at 877-927-6648. And yeah, let's do some history. And it's the history repeating. On this day in 1865 in Atomox, a courthouse of Virginia, Appomattox, yeah, Appomattox. Confederate General Robert E. Lee surrenders 28,000 troops to the Union General Ulysses S. Grant, effectively ending the American Civil War forced to abandon the Confederate capital of Richmond. Block from joining his surviving Confederate force in North Carolina and harassed constantly by your Union cavalry. Lee had no other option but to surrender and end the war between the states. A one that probably the most misnamed war in the world as a civil war. Civil wars seem to be very un-simile. So I don't know about that. I always think whether or not it could happen again. And you always think about people that are a little bizarre out there where the buses don't run thinking that whatever they got is so important that it is worth the lives of others. You never know. Anyway, on this day in 1965, things could always be worse. Like I like to say. Okay, we're going to get to charts. Apple probably one of the more interesting stocks. And of course, this thing came down and left a lot of gaps. When we look at this, let me move this around so I can see stuff. When we look at the gaps, we are right to it today on Apple. This is about five or six of them on the way down. Let's go back and look at those. Zoom in. First gap down came on November 2nd. That was a huge one. That's about 10 bucks on that one. You gap down the next day, but you filled that gap on the 5th of November. Came back up to the 8th of November. Gapped down the next day on the 9th. The 9th gap down over the weekend to the 12th. And now you've got all those gaps all set back up. But we're back into that line of gaps. Now the one on the 12th is the one we're going into right now, which came down on 51 million shares up today or actually pierced and filled half that gap, which I'm always a big fan of either selling in. If you're playing the bounce, selling half the gap or shorting it there. I don't know if I'm a big fan of shorting Apple. I think there are a lot weaker stocks out there, but 51 million shares to today's so far, 24 million shares. So figure we extrapolate that out about 32, maybe 35 million shares by the end of the day on Apple. So it's going to come up pretty light for those people who are busy buying at the highs and kissing the ground for the opportunity to sell back at those highs once again. So what else do we have? Okay, ADI analog devices. We were looking at some of those SMHs that are a little weak. Analog devices was certainly weak yesterday, needed about five and a half million shares for that March 21st high. That was at 11112. Got 4.6 million shares on that. Yesterday got into it with just 2.2 million shares. Today, again, no volume up, no volume down, just 840,000 so far. So we don't have enough to break on the upside. But again, most of these moves off the March 28th low had some fairly significantly lighter volume up to these highs. So lighter volume on the last leg up, lighter volume up there. This may just be one of these markets that rolls very, very slowly off that right shoulder. But we're going to have to see a lot more action before we see the rest. Okay, American International Group. When we look at this one, it's been hitting highs 8.7 million shares on February 13th at 44.58. Got into 44.74 on February 26th with 10 million shares. Got into it two days ago with 4 million shares. Yesterday with 2.2 million shares. Today, 1.6 million shares. So may have a little bit more volume than yesterday, but not a great deal. We talked about Akamai 2. Let's go back out here and look at this. Oh, try that again. I'm Mr. Akamai. Okay, umbrella maybe? Okay, we'll be back in a minute. The Taz Profile Scanner is the most revolutionary piece of trading software that you will ever try. Wouldn't you like to approach the markets with confidence? 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Call now toll free at 1-877-927-6648 internationally at 727-873-7618. Although I'm trying to eat because I had a lot of stuff going on today. Anyway, we were talking about Apple. I wanted to look at some of these other ones. We looked at Akamai and another day with very light volume October 31st $73.99 4 million shares. I got into that yesterday with 582,000 shares and up today a little bit on 422,000 shares. So very, very light. Ambrilla would look at that certainly lighter also. You have this big gap down from June 6th of 2018. It came down with about 11 million shares. Last few days 440,000 shares, 272,000 shares. Yesterday 225,000 shares today, 107,000 shares and a doji. So very, very quiet action. As I said, I haven't seen enough to tell everybody to go short. But at the same time, certainly doesn't look like we're going higher and not a real clue to going lower. Let's see what else is going on here. Cirrus Logic, we talked a little bit about this. The November 2nd high 2018 had $43.25 with 2.8 million shares. Got into it with 900,000 shares and rejected it on March 21st. Got down to $39.29 and then back up. Last couple of days you've had 500,000, 500,000 a day. 140,000 shares so far. So again, just quiet, quiet, quiet. CVR Energy, we were talking a little bit about how I thought the energy stocks looked a little tapped out. We'll go look at the XLE in a minute. This one, CVR, was $35.95 on February 21st with 1.2 million shares. Got into it yesterday with 500,000 shares and instantly rejected it down today. Not going to have huge volume, but certainly a lot of these do look rather weak. CMEX actually, this one's kind of bounced off the bottom. This was a big runner back when everybody was planning on all kinds of stuff for works in the United States, never did much. Donaldson, DCI, another one, not a huge volume stock, but February 25th, you had $52.67 with 570,000 shares yesterday. Got into it with 262,000 shares today. You're down with 121. So again, just not seeing that kind of juice. What else do we have? Dellic Holdings, I don't know much about this one other than it tested the highs yesterday and did a big reversal and did have some volume. That may be one to one. Take a look at the symbol on that is DK. DKS, which is Dick's Sporting Goods. Also, a nice test of the previous March 1st high. That's $40.87 with 2.8 million shares. Got into it with 1.6 million shares yesterday. No real signal out here today so far. EV, Eaton Vance, certainly looking at that. Triple top, looking to mean nice W formation. March 1st, this one had $42.66 with 1.25 million shares. Tried it on March 19th with 800,000 shares. Tried it two days ago on 700,000 shares. Yesterday, 609,000 shares is pulled back a little bit today. Lighter volume, 350,000 shares. So again, we're rolling off that right shoulder, but not seeing the kind of volume that you might see. FAZ, certainly looks like the financials may have seen some kind of bottom in this bear shares. 2.3 million shares back on March 19th at $8.80. Got into it with 1.8 million shares on April 5th, up a little yesterday on 2 million shares. Today, 1.8 million shares are ready. So you've gone below that March 19th level. Back in the trading range. And yes, I forgot to take a look at the XLE to what else do you have? This is what I thought was one of the weaker sectors out here, the XLE. Mostly everybody thinking there was problems and not figuring out that it was the move from winter to summer formula and all the rigs being shut down for service as they do every six months or so. December 3rd in the XLE, we saw $67.99 with 22 million shares. And of course, yesterday we got into that. Went above it, closed below it on half the volume that we're off a little bit today. Not a big deal or not surprising. Let me put it that way. You've got 7 million shares now compared to the 10 million shares. So I still suspect maybe we've got a little bit of hangtime over here on the right hand side of these charts. Fortress Biotech. If there's a biotech that looks like maybe it's found some kind of support, is it anyone? It is FBIO. Nice gap higher on 31st of January. Did that with 9.6 million shares. Back in and filling that gap with 127,000 shares today. I tried back on March 6th with 400,000 shares, but there's no volume over here on that one. Gigi Goldcourt testing the previous high, which is the February 26th high at $11.72. That had 23 million shares. We got into that yesterday with 7.6 million shares. So not even half. A third of the volume yesterday for Goldcourt, not a good sign, and a doji, and a little bit of a pullback so far today. But Goldcourt, pretty nasty looking volume all the way up from the February 28th low. Goldman Sachs, the Goldman Sachs, as we talked about last few days, was challenging the previous high of March 19th at 206.45. Got into that yesterday with 2.5 million shares. So about 700,000 shares light down yesterday on 1.9 million shares. Today, 2.3 million, what's called 1.3 million shares so far. So again, no volume off the top, no volume pushing the highs either though. So that is problematic in trying to find a position. We talked about this one yesterday, which is HP, Helmrack, and Payne. 1.4 million shares on the February 20th high, $58.49. So you had 1.4 million shares. You got 1.5 yesterday. So it actually did a little bit better. But another doji out here today on 570,000 shares. Well, we got lots to go through. We're going to try to get through all of them today. Give me call 877-927-6648. This is a great opportunity to get a 30-day free trial to David's daily newsletter, The Path of Lease Resistance, with no obligation to pay anything. 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Get your copy of The Art of Timing the Trade Chart 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 and we'll be right back. Thank you. Plenty of time to call or email at TFNN.com. Put a message in the den as we go through a lot of these stocks that are seeing a very light volume. ITT, looking at the last past high of November 2nd, where it spiked to 6140, 1.8 million shares. The last couple of days, it spiked to 200,000 shares as we get deep into the day. No real sign of a lot of weakness, other than the fact that the prices are lower. Maybe this is a sign of something bigger coming, but we don't have a lot of confirmation yet. We like to see sellers abandoning ship. That doesn't always happen. We talked about maximum-integrated products yesterday, another one in the SMHs going for its 5.7 million share high of December 3rd. That was 5724. We got to 5806 closed higher, but only had 1.6 million shares. And, of course, today, you're back into the trading range out here. So not looking good. A lot of these were looking fairly weak. We're going to need a catalyst to move forward. Tomorrow, we get into options expiration, and then Friday, we actually have some earnings that might move the needle somewhat, and it may just be quiet for the storm of Friday. NXP semi-conductors another weak move higher, but not giving up the ghost. February 25th, $98.20, 4.8 million shares got into it yesterday with 2.3 million shares. Today, just 1.6 million shares so far as we go against the gap. Pet IQ. What do we have here? Certainly, we've got this bouncing on that high. Roku was one that I hadn't seen for a while or paid attention to. Again, this is one with like 40% short interest and it's an IPO still being kind of manipulated by the underwriters. I always thought it was more of a GoPro kind of company. Eventually, it'd be back down to 5 or 10 bucks. Kind of hard to figure out exactly. The chart doesn't look as bad as you might think. This came up on 48 million shares on February 22nd. And we're back into it yesterday with 24.5 and today, just a little camera out here with 11.5 million shares. And again, about the same volume as you got back into the March 14th lows also. Let's take a look at a little bit of Copper. Claude's Copper Clappers. You're a fan of Johnny Carson. I know you are. Southern Copper SCCO. We look at this one, $41.02 with 1.2 million shares. That goes back to the November 2nd high. We get into that yesterday with 521,000 shares. Down on 433,000 shares. You may even have more volume by the end of the day than you did on the upside yesterday. Energy on the way back up is not as bad as some of the other stocks out there, but still fairly interesting. Skyworks Solutions that's got a nice spike on February 6th. We had 9 million shares that day at 8748. Got into that yesterday with 1.4 million shares. Today, Edoji going sideways at 676,000 shares. Still no real confirmation on a lot of these as we've said. You need to get some kind of signal underneath one of these either 9-day moving average or 3x3 displacement average, which is what I'm looking at. You get 3 or 4 more days into this and we could be hitting that and closing lower without doing much upward movement in the markets, but not much to write home about just yet. At least no big signals, even if the market is down a little bit. Semantic blew up on earnings on May 11th. And that was at $18.62. It tested that a bunch of times and finally found some light volume back on December 26th. It came back up here and it's really been trying to fill this gap at about 23-24 bucks. And of course that day down, you came down on 112 million shares. Got a lot of people wanting their cash back on this one. And of course the last few days 11.6 million shares and today just 3 million shares so far. Man, you are I think at a dangerous place if the market got any really bad news and I think that's where it's at. We don't have any volume yet but if we had a catalyst for bad news as the catalyst, maybe there's enough to actually get some of these people to actually sell something. Boy of financial bouncing off its previous October 5th eye $52.34 for the 1.2 million shares yesterday got into it 573,000 shares today down on 867. As I said those financials look like they may turn. We talked about the XLE2 this one had a very weak leg back up off the December 26th low I've stretched fairly far pull down today on 7 million shares already compared to the 10.6 million shares you had yesterday so not a real clear signal no real break of a trend line yet but as we take a look at these it's only going to take about another buck or so on the downside are probably actually getting into some selling XLE have another one in the energy space that like I said is kind of interesting to me and that is you got about 17 actually to 17 million share highs that goes back to November 8th and December 4th of last year for ExxonMobil you peaked and turtled and prairie dog that stuck your head out on a field against those 17 million share highs with 9.1 million shares yesterday right back into the trading range today she goes so what we got about a minute I've got some emails coming in so let's take a look at those I want me to take a quick look at Microsoft as the leader of the market or has been for a while how close are we there some kind of cell signal well today if you close down here you're going to get it and this is where you can start seeing some selling come back in as long as you close below is that 1951 you've got a cell signal now I won't be shorting Microsoft it's not going to come back that far it might come back to 100 which I think would be a gift it's super extended and I think a lot of people just kept piling into it because of course the same thing with Apple which is if you want to run the market just keep buying a few Apple shares every day if you're a big man on Wall Street everybody else is going to do it too give you the opportunity to sell everything else in the market we're going to be back we've got one more big segment and then a little segment we'll have fun the security for these first mortgages are building lots in the tax opportunity zone in St. Petersburg, Florida the tax act of 2018 set up tax free zones across the country where you can build and hold for 10 years and pay no tax on the profits which makes these lots valuable the investment is anywhere from 30,000 to 75,000 the interest paid is 7% yearly paid on a monthly basis according to bankrate.com the best rate for a four year CD in the country as of February 20th is 3.1% a $50,000 investment at a normal a CD rate of 3.1% would give you income of $1,550 per year or $6,200 over the four year period that same $50,000 investment in the target first mortgage program would give you $3,500 per year or $14,000 over the four years what should you prefer? $6,200 or $14,000 of interest on your investment if you'd like more information about the target first mortgage program you can call me at 877-518-9190 that's 877-518-9190 if you haven't checked out the newsletters page of TFNN.com what are you waiting for? all of the TFNN newsletters are informative, up to date, affordable and must have for every trader looking to gain a competitive informational edge in 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I tell you what they're doing literally everything they can you couldn't ask for more night and day version from the previous CEO to this CEO there was some things that I'd love for them to change and they're a little slow and some of the machine learning stuff that they have coming out but I used to pay 2400 bucks a year for a developer package that I haven't had to pay for since probably 2012 or 2014 or something and they make it all free which they have to compete with all the Linux stuff if you're a big company with more than a handful of people and you want to work together the versions that do that very well are expensive but if you're a big company you can afford it and of course they do a lot of work if you're not making an app for 5 million people but making an app for 10,000 people makes a lot of sense if you're in the line of business kind of application to continue doing it and of course they've got a lot of stuff on their Azure website it seems like almost every day they're advertising some kind of new connection that they're putting the glue to let you write applications fairly quickly and get at least up and running to see what you might need further on so they may pull back I think that they will still probably outperform the rest of their peers especially in software the big problem I think that everybody the big problem that Microsoft has is that they're in bed whether they like it or not with all the other Fang stocks like Facebook and these guys man they have let's take a quick look at that Google Facebook these guys are going to just get creamed eventually on taxes and regulations and they don't seem to care it seems more about the next quarter than what's going to happen in a year from now if there's two companies that have avoided a lot of the pitfalls it's Amazon and Microsoft the political the political issues so you know what it's hard for me to say anything else is going on there's kind of I think if the Microsoft pulls back it's going to pull back with the rest of the market they still are probably going to outperform or come back less than the rest but could I see Microsoft back to 100 bucks they have the market pulls back far enough right now there's no volume on the downside so it's hard to actually start saying hey and waving flags that a long-term top is in I think we probably are just waiting for Friday and waiting for earnings to come in and there's a lot of indecision up here at the highs and of course we never know what the Treasury Secretary or the President is going to tweet or say to maybe finally get that kind of juice to actually break through these eyes so a lot of people are more than willing to sit on their hands for a handful of days as we pull back and look and see what's happening in the rest of the market so we're off 19 on the S&P cash again pulling back probably not a big surprise with the incredibly light volume that we talked about both on Friday and yesterday throughout the day there just wasn't any real desire to go higher but again you know 20 points off on the S&P cash not a big deal now of course weighing under Boeing somewhat NASDAQ's off 4041 on a normal day we wouldn't think anything more about this and again we've got options Delta neutral tomorrow so if they push this down early in the morning tomorrow I'm going to look for probably some kind of reversal for later in the day of course 8 out of 10 options expirations will close higher than the high of tomorrow there's always about a 1.5% bullish bias on average into options expiration if the market starts to pull back it's also generally an outlier event in which the downside is much greater than the general average upside so generally you know you only get 2 out of 10 that go down over 30 or 40 years whatever but when they go down they go down about 3 times the size that the average upside is into options expiration which is the 21st of this month I think it is at the right date to do okay 19th so you got you know tomorrow options delta neutral from the 19th at the actual expiration but you've got to have a fairly compelling case to go short in April I've seen markets like this many times hold up all the way to March 1st and then start seeing the selling come back in can you think Buffett Gates base us in the army of lieutenants observe I can thank them I guess that's a statement okay but you know Jeff Bezos self inflicted wounds and Microsoft there's a squeaky clean bunch no accounting fraud no lots of turmoil in the executive ranks not a lot of questions like Oracle where you might have somebody shoot their mouth off one day but certainly problematic I do have a question to look at Cisco we'll do that real quick CSCO to do okay you don't have much in this again you're wanting some kind of break and you want some kind of volume coming in you know almost 14 million shares you got about 10 million shares so far today what we've got left got about an hour and 10 minutes left so not much to scream about on that let's look at some of the other big high flyers NFL X as we look at that one man just it looks like again sideways action up a little bit today but again and a little higher low on March 28th a little lower high on April 3rd we're just under trading range waiting for earnings is my call we'll be back in a minute 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 trade 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&P 500 for the last 12 six and three months timer digest also ranks me as the number one market timer 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products for TV and Hollywood that propelled a company public to match that with 14 years as a full-time trader and he's uniquely qualified to guide you through the light speed world of ever-evolving high tech if you're ready to ride the next big technology bull market for less than $40 per month log on to TFNN.com and get your two week free trial to the technology insider get in on the ground floor of the next big thing today since 1984 Basil Chapman has been using the Chapman wave methodology to advise marketers of his expert market opinion while originally hand-drawing charts from the late 1970s into the 1980s Basil noticed that prices under most circumstances virtually always had a certain number of legs to the upside before declining sharply later Basil found that computer software which included the standard market technical indicators enhanced the degree of accuracy in calling price turns as well as market trend calls thus was born the Chapman wave sequence using the Chapman wave methodology along with other indicators Basil Chapman advises his subscribers of his expert market opinion each market day with his opening call newsletter right now you can get a two week free trial to the opening call Basil'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 Basil's newsletter the opening call today by visiting TFNN.com also a special guest on CNBC Tom will bisect and dissect the markets the Tom O'Brien show next on TFNN you said looked at Netflix a little bit again up a little on a bad day I don't think the lot's going on in that Amazon.com did break through but we certainly haven't had anything like we're looking for we wanted about 7 billion shares just to tie over the last few days as it broke higher 4 days ago 3.7 million shares 3 days ago 3.7 million shares yesterday 3.8 million shares today 2.7 million shares going kind of sideways again I think you probably want to see you're right at the top of this big handle down that goes back to October 10th October 10th it was down on 11 million shares so 2.3 million shares probably just not going to cut it so we're kind of at the top of this range maybe we get a pullback on light volume and then the next range we can actually see some volume up there break those highs maybe a lot of these stocks start breaking down by the end of the day close back some kind of trend line in these things and actually get some sell signals on them a handful of them yes a whole lot of them no so we're kind of in this no man's land we're waiting for signals to act and are probably not prudent to get a little too far ahead of those signals as slow as the markets going as they say you don't want to be short of a quiet market and certainly a quiet market generally has light volume so we'll look at those anyway as we close the show down 19 on the S&P 500 down then 19 dows off 204 SX down 37 and the Russell off about 12 waiting for earnings on Friday most likely we'll be back tomorrow same back channel same back time so when you can now when you have to