 The following is a presentation of TFNN. The Tiger Technician Hour. With your host, Basil Chapman. Call now. Toll free at 1-877-927-6648 internationally at 727-445-1044. Now, Basil Chapman. Hi, everyone. I'm Basil Chapman, host of the Tiger Technician Hour and author of the opening call, Daddy Newsletter, a very comprehensive newsletter. And just to review, we're long from June the 3rd. The Dow, we've got a position that's 200% long. And we've gone everywhere you counted. This is APC at 26,966. Why do I mention that? In the Chapman Wave methodology, you go from the lowest, most identifiable low, sometimes very easy to identify, and other times it's not. Now you count each higher peak, and this becomes a peak A when it turns around. If it doesn't take out the low, it continues. And if it goes higher than that peak A by .001, whatever it is, just one penny, or even less, just goes higher. It saws New Leg B. That's called the Floating Letter. It becomes a floating letter until it actually makes a peak, and then it goes back up again, one penny above B, saws Leg C, and same thing with D, one penny above C. Add D, the fourth highest peak, other things can happen. That's what you've got to know, because you can recycle and go to a whole E, F and G, or even recycle to a whole brand new by-mode. But D is really where you lift your foot off the accelerator and you say, okay, this is what's happening next. You don't have to do anything, but you're just ready. Patterns that we look for, straight line, up and down. That's one. Arch formation could be inverted V. You're going from one side up, and then testing that left side now support. Or you're going from one level down and coming back up again. You're testing that. So there's just three patterns, straight up and down. The arch or the cup. And then you can get mixed in two, but it's still basically the same thing. On the left side of the dreaded H, if you take out the left side low, you can keep going down quite sharply. And on the right, the Y inverted Y or upside down H, take out the left side high, and you can keep going high. Or that's where you make a double top. All right, so here we go. Where are we? We're looking at a cup formation that made a little cup and rising handle. A cup and rising handle. In the Chapman Way methodology, when you decisively take out the left side high, now you took it out. It wasn't all that depth that's decisive. It means that you should go to a D. But this is a rising cup, and there's a little handle pattern. One of my favorites. Now I can make another little cup and handle mini, and we'll see if that's going to happen. Why? Okay, now I'm going to get a little technical for those of you at the Chapman Way methodology. Let me just show you something. That peak B at 26,907 on the 21st of June, pulls back to the nine period exponential moving average, the green line. And then it rallies, but it rallies to just under 26,907. It goes to 26,890. So it misses it by 17 points, 18 points going to a new high. But there's a technique that I've used only rarely, but it is part of the vernacular. It's not like I'm form fritting that I'm trying to make things up. I'm saying, because of a number of factors, I couldn't technically call this a phantom peak. Make it red, even though it's below B, everything about it with a little bump in the on-balance void and everything says, that had a legitimate call to make it a C. And then we would be at a D. Why do I say that's important at 26,966? Because the S and P, the S and P has gone to a D. It did make a high, a high on that day that was Boeing. So Boeing might have disrupted this whole thing. That's why I've been saying to the subscribers. We took a tiny bit off again the other day, yesterday, or the day before, took a tiny bit off. Why? Because you've got your peak D. Remember peak D is where other things can happen? You've got your D in the S and P, but the MACD, the moving average called VIRGINSTYLE, VIRGINSTYLE is still good. And the SCACASTIC is very good at 90%. The reason why I wanted to stay long and the QQQ, the NDX100 trading vehicle went to a peak E. And now it's pulled back for three days with this one tiny little red thing yesterday. So it's really, it's defying the weakness that you could normally see. It's trying to hold very nicely and rally. So that's the reason I wanted everything in sync. So that gave me a legitimate excuse to say there is a chance that I could have called that like a phantom peak D the other day. I don't need to do it because all the technicals are suggesting that there's still enough residual strength to try to get close to that level. And if not, we'll make a decision about that. So, and here we are looking even today with the market open down very sharply. We've already made in the two-minute chart we made a peak F in the five minutes. We've gone to a peak E and we're only at a peak C in the 10 minutes trying very hard to get in the E-mini back to the high of the day which is a 29, 79, 50. And it's a 29, 78, 75 right now. It should try for that. All right. So we're all right. We've done that with the indices. Now let me just show you something in the weekly charts. This is a leg D. It could be a peak D. There's no new high above 191.44 this week in the Qs. But so far this D has got good, not great, but good back D. And good but not great. It's the cash to get 85% lower than it was if that peak C at 191.32. Now that's the reason why this Friday's close is going to be very important. The S&P weekly chart has actually extended a little bit more. It's in an E. A, B, C right there on the, I think the third, yep, the third, we get the third of May at 29, 54, 13. And then it comes back down and has another series of up moves, breaks out and goes to a D and then an E. Monthly chart is still only in an A with a potential of some kind of July topping process and an August pullback. I guess that's the potential right now that we're looking at, we'll see. And the QQQ weekly chart has gone to a leg D but it's only a B in the monthly chart and the Dow is more extended than any of the others and that's really a major part is because of Boeing's weakness. And look at this. You've gone to 26,966 all-time high above the high of October of 26,951, obviously somewhat 15 points and then you've gone above the high of 26,616 in January of 2018. All of this is saying to me, be a little careful. Monthly chart looks fabulous looking out but on a short-term basis, the D and the weekly chart are saying, uh-oh, starting to bump into some kind of resistance. But what would you do? Let's just go to, I don't know, let's go to America and work for a couple of days. Merck Trading Recycle EFG. Let's call this a G right now in which we've just gone sequentially high to an F than a G. Now pulling back and that corresponds to weekly brand new leg C and a monthly leg C. So MRK, Merck Inc. Monthly chart making this big. Look at this. You won't believe it when I squeeze this close. Look at that cup formation. It's more like a bowl formation. And it's suggesting that the 9150 of November of 2011, the high all-time high at that time, plunging down to the 20 level and now up four times higher at 84.99 should go at some point towards the 91s to retest the all-time high. I'll be back. Basil Chapman, Dallas down, 85 will be right back. The TAS Profile Scanner is the most revolutionary piece of trading software that you will ever try. Wouldn't you like to approach the markets with confidence? As you begin your trading day, it's likely that you'll be faced with lots of decisions. 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So I had a question. Pete and the Den mentioned OSTK and that is Overstock.com. A lot of bad news about a month or so ago and it goes all the way down from the 24s to under 10. It goes to 9. In fact, it goes to 8.96. The week of the 7th of June. Since then in the dead, it's gone peak A, peak B, peak C, peak D. I looked at it the other day. Pete and the Den asked about it. I said, it looks good. But I see how it handles the peak D. Well, not only did it handle the peak D. It broke out this morning. I looked at it because I sort of go by on the ticket and I thought, oh, oh, man, look at this. And it's now up $1.28 to 17.92 in leg E. But I didn't want to give it to subscribers as a buy because it's so close to the 200-period moving average. But the technicals are really good. This kind of pattern can go for a little bit. So I'm a little upset because I think that it's got a really good cushion in the 1610 to 1580 level on a very short-term basis. However, it's really gotten away and it's looking very, very strong. Question about that. Yes, the monthly chart is horrible. The weekly chart has improved a lot and it's only in the leg A. So if any pullback over the next three weeks does not take out the 14 to 13.5 level, this isn't a single leg A up. It is leg A and it could pull back and then start leg B. So let's see how everything unfolds. It could be a short squeeze. It has more the look of buying than just a short squeeze. So we'll see. A couple of questions I had here. The next question is the cryptocurrency BTC or the GBTC trading at 16.16 up 43 cents. Hey, nice move from the 12. It's just five days ago into the 16 up 30% just now in a couple of days going from 3.66 to the 17.40 level pulling back to the 12 and now it's 16. Yeah, there's a lot of buying. And I said, yes, it's in play. You know, this last move down that gap down and then with an ugly candle intraday going to the low of 11.99 on the 2nd of July. That was a good entry point. I didn't take it. I saw it. I looked at it. I just thought, you know, the MACD if it does turn down sharply to the low 11s, that's a big percentage when you're getting in at 12.20 and it goes down to 11. But yeah, it's looking very good. So the answer is, I think I can now draw this. I was going to do this before. I think I discussed it, but I never did it. The normal thing I would do is grab the two ends and say there's a rectangle formation and this thing could trade between the 17s and the 12s for a while still chop chop chop. I've missed a good entry point and now I think it's too late. Even though from 1617 it could retest the 17s, I just risk reward why. So this leg F here, I'm going to do it here as well. I'm going to narrow the rectangle very soon, but just to start with you go to the outer edges and that's what we're looking at. And it's leg A in the monthly. Yes, this looks like it's a little bit more than a short squeeze. Question about the VIX index, VIX. I said to subscribe three days ago. I think the TVIX, that's what I usually put in my newsletter. We don't actually trade very much at all. We used to do much more than I thought. You know what? It's just too difficult. Either you get it perfectly and then you do really well or you miss it enough times to say I just lost as much as I could have made in really one fantastic move. So I've just stayed away. We will buy it at some point, but I don't think just yet. And it's trading at 14. It's above. I would have normally just grabbed the two ends right here, made this rectangle formation. It went above. It's back inside. Make it real simple. If the VIX index starts to trade in the 15s, there's a good chance you're going to get triple digit down in the Dow in today. If it closes in the 16s, you'll get triple digit down closes and this is going to go for one step at a time. If it in the next two days, because you know there's a lot of buys and there's a lot of lows, then the Dow is only down 90 points, that's to say. S&P is only down one and a half. This is not what you get in a major turnaround with a serious sell signal. That's the reason why I wanted to stay in our positions, our long positions because I think there's just enough buying and enough hesitancy and queasiness to say this is a well-deserved breather, but at this point I just think it's a breather. I'm not sure yet I can do anything more than that. So you have to go back to the 16s. If at any point it goes to 13.70s or lower, that's really going to give some buying pressure to the Dow and if it holds in the 15s, that's going to be selling pressure and right now we're at 14.06. No big deal. A couple of questions. Let me do it in sequence. I think this was the first one. Was this the first one or the second one? Paul wants to know, good day to you and Tommy. I'm sorry, Paul. This came in for our show that I did with Tommy O'Brien Jr. The 10 o'clock to 11 o'clock hour, which I'm doing for Tommy O'Brien who's away this week. So I didn't see it until late. It came in at 20.10. I should have seen it. A question. Good day to you, Tommy. Can you please review SOXC? I like the setup here. Long entered at 145. So I'm going to conduct an ETF itself that's trading at 110. Am I doing this correctly? SOXC L. Wow. SOXL. Yes, got it. Okay, good. You got into this at 140. Whoa, very good. 145 is trading right now. The day up 2%. This is three times long. The semiconductor index is called the direction daily semiconductor bull three times long. So let me say that to move down from the PD in the SMHs. Let me just go to the SMHs because I'm going to use that as my root. K met without going to the left side high of 107. The high that we used to have 117. 88 from the first of May it missed going there and it pulled back for four sessions and today's a nice green session right on the 14 period moving average again and using that as a spin off trigger. I like this. The MACD is still good. That's why I can't put a down arrow in. The MACD is still good. The SCASTX is not so great at 60% on balance pulling back. This is the way I would do it. So Paul you're in it. I'm going to say to you let's now go back to your SOXL trading at 147.90. I don't know if you've got enough to do this, but what I would say to you is this. Your core position of 145. I would make that a 145.80. I'd even make it a 146 stop. A trading position for today or tomorrow says that I'd have a shorter term stop. I'm just going to go to the 120-minute chart if you don't mind right here. 142.80. Of 147.90 trading right now, the 200 period moving average support on the this is near term 144.90. So you'd give up two points, about two points. No, it's three points. No, that's not good enough. You've got a really good gain so far and it's really trying to turn up for a balance. I don't think it's more than a balance and then it comes back and does an H-Path and retest. Well, I'm going to think this through. My eye has an absolutely perfect visual of what I would use for security but I need to actually put that in numbers. I'll be right back down to 96. I was actually struggling to get positive and the S&P almost did. I'll be right back. Since 1984, Basil Chapman has been using the Chapman wave methodology to advise traders 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 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 is absolutely nothing. Get your two week free trial to Basil's newsletter of the opening call today by visiting TFNN.com. The path of least resistance is David White's daily trading newsletter and if you're looking for active trading ideas then now's a perfect time for a 30 day free trial to this powerful daily trading advisory service. 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For more information, just click the Think or Swim banner on the front page of TFNN.com Hi folks, we're back in 1991 and we're looking at the SOXL three times along the direction share semiconductor bull trading at $148.10. So I'm just going to say, Paul, look as it stands right now I would have just a small partner, one-third of my position would have a stop on the shorter term, let's call it the near-term position. $147.30 on one position $146.80 on another and your call position just make sure you don't take a loss on the call position. I looked at it early this morning because I know every day from my newsletter I have the estimators and we were short from 116 in the way down and we took profits and then just got out and I should have switched along and said just take me where you want to go and that's the balance I never did. So now I'm looking at it and saying this is interesting because the estimators are getting close to almost like a new buy. I don't know if it's after the next pull back or whether this is holding long enough for people to say, you know what, I'm going to go back into the service old condition of the estimators. So yeah, I like it and in fact, if it works, if today you're still in both all the positions you haven't even taken it out of one and tomorrow there's a gap up for whatever reason, just proportion to raise those stops. That's all, let it play out. I don't get excited, just put it in and if it gets taken out it means the estimators are probably going to have to do testing of the 108-107s but at this point this is nice action and I like it and in fact last two days it's had much better action than you would have expected. Next question I had was, whoa, am I going to yeah, QQQ I read your morning newsletter, you feel we will soon consolidate on the Q's I have positions on TQQQ, do you suggest selling within another day? I have it in the 61 it's at 65, thanks Carlos. So Carlos is what I'm looking at here. The QQQ trading right now at 190.38 has held very nicely, it's really had just a minor three-day consolidation almost like it has had all the way up, it's just three days, the fourth day gets ready for a move, fifth day breaks out. One, two, three, four, this was the seventh day it broke out but it went kind of sideways. So I know this is going to repeat but the MACD is good so there's no down arrow, the stochastic is at 91%, no down arrow, it's above the nine and the 40p removing average in the daily. I like what I'm seeing. So Carlos I'm going to say, I'm going to do almost the same sort of thing because you got the three times long, three times long I don't have to tell you how quickly it moves. That's the reason why you've done it so nicely so far. So the SQQQ is pulling back but the the TQQQ and the SQQQ looks like it could really test the low if it doesn't turn around the next two days. Therefore the TQQ says it could test the high if it doesn't turn around the next two days. I like what I'm seeing. So yeah, we got 65.30 I would do this because you asked me this question based on my overview. You know that I'm looking at the daily charts of the key indices having made tops that suggest that there should be some kind of a pullback maybe more time than anything else. I'm just looking at the NYA just off the top of my head trying to think the NYA is trading right now. It's a New York stock exchange, very broad New York stock exchange. Yes, that did make a peak D. They're all doing the sort of the same thing in terms of time rather than price. Here I go. In the TQQ why is it not LQQ? In the TQQ trading at 65.33 have some part of it with a stop based on the 120-minute chart moving average is 65.34 That's where we are right here. Yes, make it quite tight because it's done so well today that if it had to give back those 35-point set means of the market it's probably going to turn down quite sharply and drag it down. So make that 64.99 somewhere around between 63.09 and 64.99 some part of it has a stop. I don't think if it gets taken out I think it's going to go much deeper than that. But the next part of it I would have a stop of 64. You're in at 61. I don't want to give too much away you've done so well. Yes, 61. 55. Give it a little bit of room. I can do this again tomorrow. The call position must have at least a minimum because you've done so well. You don't want to give up three times when you've been longer three times and done well and the three times long that's an achievement in itself. So you don't want to give back so that call position I probably would say to you at this stage 62.30ish and I'd be out. I don't want to give back more than that and if it goes higher after that it goes higher then you try to get back in. But that's the way I would look at it. Now here's the big thing. It's not bearish action. The market is really trying its best to move higher. That's the reason why we've kept our long positions. So I am going to say to you 65.35 have a 30 have a 35 cent training stop. So if it goes up 20 cents from here over the next to the end of the day into early tomorrow morning you've got 20 cents extra than you would have in the stop itself. That's all and just be very disciplined about it. You might be able to go even higher than that without being stopped out of even one position. This is showing some nice range of strength. The technicals are all very good. Now there's a difference between this chart here. Oh I'll never remember what it was. Oh man. What was it? I meant to write it down even to say now that is a peak F because all the technicals are negative. I haven't I can't remember it. In the meantime I'm going to go back to the branch. Yes back at the ranch you've had square. I love the stock just the other day and I said oh arch formation just be careful this Sunday there must be some news here square point of sale software and it helps you manage your receipts. It's trading at 78 10 up 4.6 18 yesterday closed at 73 3.06. That was the low closed in the 73s. Now it's at 78.11 but this looks good because it does look like that H pattern in the monthly chart is now improved to say that there's a chance that it's going to go to leg B above 81 points 82.78 doesn't have to happen right now. I like what I'm seeing. In fact in the market itself I'm kind of impressed that it hasn't taken a deeper dive to the downside. I like what I see. So yes squares acting very well. So this is what I wanted to show you. For my subscribers every day I go through all these different charts. Here's the Dow daily on the left and here it is on the right with the MACD and the sarcastic. The MACD is turning down but it never went negative and the sarcastic is 88 percent. That's very good. It did cross have a little cross of the green line the near term moving average but so far the boldness of the longer term moving averages I like that and that's suggesting that the Dow has a chance to rally above the 9 period moving average and make another cup formation. Remember what are we about in the Chapman methodology these patterns in this case cup cup cup you want to see that happen smaller and smaller is sometimes a big positive because look there was a small one and then a bigger one and now you want a smaller one. So we'll see days young but it looks this is nice action so to be down 170 we down just 70. So I am impressed with that. I'll be right back in chapter type of admissions. I also want to have a look to see what the Dow is dragging it down because it's kind of almost unchanged. I'll be right back. If you're in the CD market and looking for a secure investment the Tiger first mortgage program may work for you. The security for these first mortgages are building lots in the tax opportunity zone in St. 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 four year CD rate of 3.1% would give you income of 1550 per year or 6200 over the four year period. That same $50,000 investment in the Tiger first mortgage program would give you 3500 per year or 14,000 over the four years. 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The funds are utilized only by sophisticated investors such as traders and active investors. Distributor Four Side Fund Services LLC. 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 for the latest market information. Alright, so I just wanted to show you something again. The two-minute chart at 2979 the E-mini A, B, C. So what we're looking at is in the weekly chart remember I said we made that peak E but in the 10-minute chart we've only gone through a C and we need to go above 297950 to start a new leg D. We're right there at this moment we haven't broken out above it that'll be your D up at then the 5-minute chart is starting to improve so that we could keep rotating into the close today. And what I said for subscribers to my opening call let me see oh I can't find it right now is that if by 130 the Dow is I don't know what I said I remember I did it on different timeframes so I'm just trying to think of that particular one let me just see. Coming up right here is coming up right here is there it is okay so the Dow got it right here there it is so the Dow daily here so I show these charts every day my opening call newsletter right here and what did I say if today if at 120 that's another 35 minutes or so the Dow is minus 35 now down minus 69 minus 35 or less the chance chances increase for a rally to a positive late in this afternoon but if minus 80s or lower energy will be usurped and reclose will be far more likely and that's the pattern I discussed and I've got it in a 120-minute chart with the with just the moving average then with the MACD and stochastic I do a different analysis etc so and then for the stocks we have every day if I can show the actual waveform and how we're structuring it and what we're looking at had a question from a subscriber about the Dow could it make a leg D I just discussed at the beginning of the show I'm not sure if you heard it and I said because the cues and the spy and then YA have all gone to DOE and pulled back from here there's a way that I can look at this to analyze it knowing consciously that this is APC but there is an alternative count with the formality that I have of the Chapman wave notation that they just missed right here instead of going 26908 it went to 26890 this could be called the phantom C and the MACD is turning down just after it made the the phantom D that would be right now 26966 and the on balance volume turned down stochastic still good at 88% and that's the reason I didn't want to get into any phantom anything so I've called this peak C I suspect we're going to get fairly close and then I'm going to have to say this is a peak C1 peak C2 Chapman wave double top formation either way what happens this Friday is going to be important because this weekly at an E if this E takes out the low of three weeks ago 26465 at any point in the next two weeks this could be more than a short term top this could be a more short intermediate term top as the market digest big gains and all of a sudden you get a whole bunch of things that become negative to the market I am anticipating that there's a lot of resistance that's down between 26900 and 27100 and that either way even if we go to a new line that's what I said to subscribe that's the reason why we took a little bit off the other day is that even if we go to a new high that's going to be probably where I'm starting to look for shorts because I think we have to have a consolidation for this part of July starting in this particular second week of July probably going into the fourth week maybe early August I'm not sure yet I'm not talking about a big collapse I'm just talking about another digestive phase we had to move from 26695 to 24701 2,000 points I call it 2,000 points we could have another 2,000 points or something like that they're just important consolidations because these monthly charts if the monthly chart eventually crosses positive in the MACD that's going to be a big thing and here we are on the Dow so the Dow is late to the party here at a peak C not getting to a D but early in the monthly already at a C and the QQQ is at a B and the S&P is only in leg F slash A, F is very negative any moment you can expect a whopper of a move down below the low that was made in June but A says you get any pullback and you want to be buying the heck out of this thing because it should still go to a B, C, D and E that's kind of my thinking right now that this isn't A just been a fabulous move from 2346 back to the most recent I have just over 3,000 so it's just time for a breather that's all all right now let's get back to our story question is telecom oh Cisco Cisco here we go Cisco for DG is acting nicely it's a 5643 up 25 cents has made a peak D in the weekly chart and the monthly I'm going to be conservative I'm going to call this a D right now it's a D slash B I don't want to get too carried away let's call it a D a D in the weekly chart and A D C only a C in the daily chart should go to a D we'll see what happens I could call that a GL to an account yeah so it's in the middle of a range I wouldn't be surprised here as well if Cisco takes a bit of a breather very soon a bit limited upside and then limited downside just stuck in a range could be a wide range but a range nevertheless next question is XLP XLP is select consumer a spider fund it's the staples it's got Procter & Gamble, Coca Cola, Pepsi Cola we did that with Tommy a little earlier on look XLP trading down 45 at 59.03 this is the defensive area and in the defensive area they're all time highs so if you're looking at Coca Cola Coca Cola is just about two and a half points or so from it's last peak D all time high and that was an F in the weekly chart and only a C in the monthly chart so that's still positive a Pepsi we just got earnings today whoops Pepsi right here PEP Pepsi trading at 131.17 down at 39 possible peak F in the weekly a leg C only in the monthly this is very unusual the XLP doing so well in the defensive area when the market is at all time highs so just about all time highs fascinating what's going on IYZ I believe this is the telecom area USI shares telecom ETF trading ABC in the weekly hasn't got to the D yet only an A in the monthly an ABCD in the daily at 29.93 down a penny you know this is also doing very nicely and this is part of the dividend sector so all I can say is that at 29.93 holding very well it needs quite a bit to go to really break out into the 32s but so far it's holding nice enough to say good action I'll be right back for the last segment I'll be right back I'll be right back I'll be right back I'm certain you are or strive to be one of the best of the best at everything you do in life it's the most common trait that we Tigers and Tigers share if you're looking to become the best of the best when it comes to managing your money let me teach you to do what most wealth managers tell you can't be done which is how to time 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because at an all-time high the stock doesn't know that it's at an all-time high you do but it doesn't so just look at it and say I like it if you're getting very nervous take a little bit off that sort take a little off and then assign it a place to get back in or just say no I this is a huge move I'm prepared to take off and not get in for a while just make a decision and then you'll be comfortable with that decision the XLU is also kind of the same thing XLU is the S&P select utility spider fund close to the same pattern but a little different in that it's making this diamond pattern so at 60.61 I'm just going to repeat the same thing I just said indexes and stocks that make all-time highs and this is like a point and a half away from an all-time high I tend to keep doing that until something changes dramatically at this point I don't see anything changing but I tell you what I would do I would be thinking of maybe lightening up just a little bit just start the lightening up position why because it's really gone sideways it hasn't been breaking to new highs all the time it's just gone sideways with pops to the upside so that's a little different at 60.61 take a little bit off nothing more than that more money management than anything else a couple of things my newsletter the opening call we've had some very good 16 to 20 percent gains in certain stocks and indexes and certain things that we've done taking a couple of small losses actually lost just a little bit and then the same things ran to the upside it happens what can I say but we've had some very good position building and this is for the intermediate term that we're really trying to build positions and I'll keep doing that because I think we've identified correctly areas of great importance in this particular phase of the market so you can try my newsletter the opening call for a month it's money back guarantee this is a great time to be doing it because I'm looking for new positions and new situations over the next few days so you'll be right in there doing and have a great day stay tuned for Steve Dave and Tom O'Brien I know Tom's away so I think Larry's doing his show tomorrow I'll be doing the show with Tommy in the morning at 10 a.m. and then Tom's show at four o'clock have a wonderful day I hope to see you tomorrow