 the news. The newsletters are being 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 T F N M. All our newsletters come with a 30 day money back guarantee so you have absolutely nothing to worry about. Visit T F N N dot com to find out what's going on with the marketing investors. The following is a presentation of T F N N. Trade what you see with Larry Pezzavento. Call now toll free at 1 877-927-6648 or internationally at 727-873-7618 .com. Now Larry Pezzavento. Okay looking good Billy Ray feeling good Lewis. Well, there's certainly get a lot of rain out there. No Mississippi Louisiana, and I know it's going to be going up into the Northeast, so hopefully it'll dissipate a little bit and won't be as bad as people are saying. I posted the chart of the footsie and I've also posted the chart of the This year some time between the 21st of August of this year andHH the 31st of August of 2,029. One of those years there might be a top who knows, folks today's a big anniversary but today's the day that princess Die passed away. I was on the phone withком Arch Crawford. It was very always in the morning. And accident, and it was quite sad, and of course we had to go through all the funeral stuff, but it was a big anniversary date, and I wanted to bring it to your attention. And the reason why I'm bringing it to your attention is that Arch is retired, but in his letter that week, he said that one of the biggest things that had happened as far as astrological was a situation where there would be news about unrequented love. I don't know what that meant, but I guess love that didn't come to pass or whatever it happened to be, and it happened to be on the exact date that he said it would. So it was interesting that, you know, he did that. Astrology does that, but of course it misses a lot of things too, but speaking of astrology, we're going to have Shane Smollion as our guest tomorrow, and then on Friday we will have Tim Boss as our guest. We have some new guests coming on, two folks. We're going to have Jim Bartolioni. He's one of the four top gun pilots that I've trained over the past 30 years. He's going to be our guest, and I have one of Bart's charts here in just a few minutes. We're also going to have another old favorite coming in, Mr. Joe, who loves to be on the show, DiNapoli. Joe DiNapoli will be coming back, and we're going to try to get Joe on a regular basis about once every two weeks, because he's a very good speaker, and he loves this stuff, and he's got some great information, and of course a lot of it is shorter term, which we like here because it qualifies our risk, you know, as easy as possible. So that's what's going to be looking at that. Yes, the Bart charts. Bart charts, he should trade. He puts a thing out on, I don't know what it is, Telegram or YouTube that it's called Bart's charts. Since we're talking about that, I'll bring it up here right now. He did this especially for me. I don't know if it's in Bart's charts yet, but I'm sure it will be. Let's get up here and take a look at it. This is the NASDAQ since the beginning, back in October of 1974, and remember that was the first crash day. The second crash day came in December of 74. That was the big crash. That was my big learning experience. You'll notice that the high, when the NASDAQ hit basically 5,000 back in 2000 when we had the dot-com bubble, we had it dropped just about 80%. It did drop 80%, and then of course we've had a little bit of a rally since then, but pay attention, folks, because something very interesting happened last night. You'll notice up here that Bart is talking about mathematical and patterns coming together, and you'll see the prices that he has here in the NASDAQ is 15,463 and 15,696. Folks, the high in the NASDAQ last night was 15,680. I don't know if that's close enough or not, but this is a real interesting chart. The ABCD is correct because you have to move the arrow to the right to catch the high and then to catch the low. That's the only way he could get it and put it on the chart at the same time. That is a giant ABCD pattern. As you know, we like those. Now, I don't know where the top is, and nobody else does. Well, somebody knows, but they're not telling me. But remember, we talked about the one that John Jameson did for us, and that is this one right here where we're looking at no less than four major ABCD patterns coming in to the S&P at 4610. We got as high as 46, 42, 45, 42, with the high up here is 4610. They're all the same number, green, gold, blue, and red all come in at 4610. We're not very far away from that. A little bit of good news here and there. It would probably make it without any trouble. The one thing I'm 100% sure of, folks, I mean, a little more than 100%, maybe 110% or more. I'm as convinced about this being the high for the rest of this decade as I was at the bottom in 2009 because this has just got all the earmarks of a technical bubble that you can possibly ask for. Not only that, it has the final thing that you really need, and that is it just doesn't give up. Day after day, new people come out saying, this is the high, this is the high, this is the high, and that's it. Now, what I'm going to do is I am going to, sure I'm going to try it once or twice if I get a really good entry point, then I'll take a look at it. It's all about how much I have to risk. I don't care whether the top is in. I don't get any extra money for whether the top comes in or not. I don't really care about that. I just want to get a low-risk trade. We had one today in the NASDAQ. If you follow what we teach here about 382, that's exactly what we had in the NASDAQ. It broke a lot overnight. Then it rallied back to a 38% retracement at 15,610, and then it broke 200 handles. That's $2,000. That's the type of thing. Now, if it doesn't continue to go down, then all that was was just a short-term pattern that completed. When that happens, you certainly have to respect that. Now, right before I came on the show, we had the folks from Thinkorswim, and they were talking about Softee. Let's take a look at this. You're going to see here a chart that is, if you had to buy any of the NASDAQ stocks, this would probably be the one to buy, because it went from around 60% to 500%. 500% would have been a lot better than if you'd done just the regular NASDAQ. You can see here just an absolute parabolic move. This is the definition of a parabolic move. We've had a couple of small corrections. A dollar here, a dollar there, and it really doesn't make a whole lot of difference. But it will come, and when it does, just be prepared for it. A lot of people are giving warning signs. Remember, we had Jeff, you, John, from Alpha Insights, and we've had Tim Bost on. We've had, well, Stan Harley on, and you've got me every day warning you. But don't pay any attention to it until the top is made, folks. That's the bottom line. That's what you want to be looking at. We're going to take a little break here, and then we're going to take a look at these grains out this morning. 877-927-6648. Our kids can rise and fall like the tides. Subscribe to Basil Chapman's newsletter, The Opening Call, and you too can ride the wave. Basil Chapman is an authority in technical analysis. His Chapman Wave trading system has been helping traders identify trends and capitalize on momentum in the markets since 1984. TFNN invites you to test Basil's proprietary Chapman Wave trading methodology with a monthly subscription to the Opening Call newsletter for only $149. Your subscription to the Opening Call comes with a 30-day money-back guarantee, as well as daily market updates on key indexes, stocks, and commodities. Ride the wave. Sign up for the Opening Call risk-free today. What's separating you from the most successful men and women on Wall Street? That's right. Information. Having all the information gives us the perspective we need to place the right trades at the right time. The TAS Profile Scanner is the premier market profile-based scanner. Powered by its acclaimed TAS proprietary algorithms, this feature-rich scanner instantly filters over 2,500-plus global financial markets, such as stocks, ETFs, commodities, futures, and forex. This powerful suite of tools leverages instant trade filtering and strategy formulation to show you emerging trades before they happen. For a limited time, you can save $100 off your first month by using the promo code UPGRADE, and you still get a 30-day money-back guarantee so you have nothing to risk. Level the playing field with the TAS Profile Scanner, which you can find under the Services tab at TFNN.com. Sign up today. Sharpening your skills as an investor is like getting better at playing a musical instrument. You have to practice, sure, but you also need excellent instruction from experts. At TFNN, you'll get advice and guidance from the authority in technical market analysis, and it's not just dry, tedious text either. TFNN airs live financial content streamed live on TFNN.com and TFNN's YouTube channel with Tiger TV, live every market day from 8.30 a.m. to 4.00 p.m. Eastern for free. Each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world. From the moment the market opens until the closing bell sounds, Tiger TV has eight different shows with expert hosts to help you make the right moves with your money. Watch online at TFNN.com or on TFNN's YouTube channel and become the investor you were born to be, TFNN Educating Investors. We're back, folks, and before we get into the grains, I wanted to work on the US dollar index. I want to make sure I got this thing in here so you'll take a look at it. This is an hourly chart going back over the past month. We had that big bottom down there in August and we had the nice rally, beautiful ABCD up there at around 93.70. That's where we had a chance to get long to euro, and you'll notice here we've had this big move down, and now we're starting to get down. We're almost at the 61% retracement here in this US dollar index, and that's what we were watching this morning. And since we had that, and since we had had such a very nice move in that, and I'll get this up here to give you a rough idea, because this is the actual upside down version of that, you'll be able to see that the euro was actually making that number and making a perfect ABCD from that 382 retracement that we made back here on the 27th. Remember, we were looking to go long down there at that 117 level, and this had a 150 fifths in it, which is no small amount. And so this is why we thought it would be the best time to do it. I know those of you that follow this stuff quite a bit can see the three drive pattern that happened between the 26th, the 27th, and the 31st. It's a very nice three drive. That was also part of the reasoning to take that, and we've broken all the way down now to the, we went below the, we're back into the 117s again. So we'll be watching a good place to get back in this in the next day or so, but not today. We're going to be able to just stand aside and wait and see what's going to happen. Yesterday we had a nice long conversation with Mr. Z about the grains, the fact that they've been hit pretty hard, and the news had actually turned a bit bearish, and you can see the bearishness coming in today as you look at some of these things. The one we're going to start out with today is the nearby corn. This is the September corn. It's a maverick month, but it's still being traded. You'll see here we have an ABCD coming down here about another three or four cents lower, but the one that you want to be watching, if you're looking at corn, is to pay attention to the Christmas corn, December, because this is the one that we just had a beautiful 30-cent move in that. And when we happened to be long, that had that nice rally that lasted about five days. And you'll see now that what we're looking at here, as you look at this December corn, you'll see the high that we made back here with the ABCD was made back on August the 8th. That's when that really bullish report came out. Remember that? I mean, the thing went, we rallied 45 cents a bushel going right up to the top of the ABCD, a tiny bit above the 78% level. It went to exactly 0.84. And then what happened is, you came all the way back down, and we were able to buy it down around the 529 level, where we took out the previous low. And we made a very nice profit in that one. And now, look where we are right now, folks. We're sitting right at the 786 of the whole range from July. Corn should be as high as an elephant's eye during the month of July. Anyway, you'll notice here that we went right down to the 525 level. I haven't checked it lately, but I thought it was trading at around 528. I have not issued a buy in this because I want to give it a little bit of time just because of the fact that it's come down so hard. And now, we're in a reverse weather market where the weather might be a turnaround and be a good factor for the grains here. So I want to wait one day, and then possibly I'll be able to get in and you know, be able to get in and make that trade. But right now, I'm just waiting to see what happens with the December corn. Now, another one in the grain market that we want to be watching is the, it's been very bullish. It's been the leader of the pack, just like the Nasdaq, has been the December soybean oil. This is a cooking oil and paint and stuff that they use it for. But you notice here, down around 57.72 down from about 70 pips, from where we were just a little while ago, comes in a beautiful 78% retracement and several other ratios coming in. You can see the butterfly pattern that's there also with a little bit of a trained eye that most of you already have that, that 57.72 will be a very, very low risk trade. So the buy would be right around 57.72. You have to risk about 60 pips. So that would put your stop right around the 56, 156.92 level. That's what I would be looking at if I were watching this from this. So we'll see if that's going to be the case on some of these grains. But boy, they have been hit really bad. Another one that looks real interesting from a long-term standpoint, take a look here. This is the spot meal market, folks. Soybean meal, which is 80% of the plant. You can see here we had that big top up here back in May. The market actually topped, well, you have to call the May as the high, because that's the part of the growing season. We actually topped in May and we've been down. I mean, this meal market's just been getting hammered really, really badly. And now we're breaking down below the 61% retracement. But you have to remember that is the nearby meal, and you want to watch December meal because that's new crop. And new crop is where the action usually is. So what we'll tell you to do now is we're going to take a look at the December meal and you're going to see a totally different chart with the same pattern, but a different chart, because you're almost at the 61% retracement of the whole move. You can see the three drive to a top pattern that we made in May. We focus three drive to a top patterns as often as we can, folks, because they work about 70% of the time. And man, oh, live, when they work, they really work. You can see this one. This is a perfect example of that. And they also do the same thing on the upside, because if a three drive pattern is no good, you're going to be out of that in a heartbeat and thanking the good Lord that he kept the door open for you, because these things can explode to the upside just to go nuts and you don't want to get involved with that. That's what the pattern recognition is for, folks. It's for risk control, because when the patterns fail, that's basically what you want to do. You want to just be able to stand aside and wait for the next train that comes by. That's really what you're trying to do. So that's the 10-4 on that one. Now, we've got another one here that we want to take a look at here that I think is relatively important, and that is the wheat market, because everybody likes to have some pancakes and bread once in a while. Here is the long-term picture in the wheat. We had the giant ABCD pattern. That was also a three drive going back to January to May and then into August. That number was right up there, perfect ABCD. And we alerted the folks to that. And look at this really closely, folks. I mean, this is a daily chart. And if you look at it really closely from the time of mid-July to the end of August, you can see in the beginning of August, you can see a beautiful three drive to a top pattern going in right above making new highs and a three drive to a top pattern and a double top and an ABCD. And we put that order in. Unfortunately, we missed it by about three cents, which is sometimes a little more common than we'd like to think. But that's what happened. Now, this is still relatively very, very bullish, folks. So you've got to pay attention to the wheat for a good balance, because the rest of this stuff getting killed, the wheat isn't. And that is really an important fact. So we are going to be watching that wheat very closely, because if this weather gets any wetter, I recall from my old days of reading some of the fundamentals that you don't want too much wet weather coming into the harvest time of September and October, 877-927-6648. Are you having fun trading the markets, but having trouble finding like-minded individuals to discuss your trading and investment ideas with? Become an Apex predator in the trading markets and join the Tiger's Den Trading Room only at tfnn.com. The Tiger's Den is an exclusive trading room where successful traders from around the world come to exchange trades and ideas. Join the den and surround yourself with the sharpest minds in the trading world. Subscribers to the Tiger's Den are also the first to have their questions answered live on air and can privately chat with our TFNN hosts live during their shows. Interact with other tigers and tigers as they share trading ideas, news analysis, and discuss the market action all trading day. Subscribe to the Tiger's Den risk-free with our 30-day money-back guarantee and become part of the TFNN trading community. TFNN Educating Investors find the newsletter for you. Whether you're into trading gold, metals, futures, currencies, or options, you'll get advice and analysis to help you seriously get ahead. TFNN also features trading services with a 30-day money-back guarantee for new subscribers as well as TFNN's Tiger Den Trading Room, trading software, and educational webinars for all trading levels. And make sure you check out Tiger TV for free on TFNN.com or TFNN's YouTube channel for live financial content from 8.30 a.m. to 4 p.m. Eastern on market days. Stop watching on the sidelines while other people get rich and become the investor you were born to be. TFNN Educating Investors TFNN is excited about our new software charting program, The Art of Timing the Trade Charts. In collaboration with Tom O'Brien and using his best-selling book, The Art of Timing the Trade, Your Ultimate Trading Mastery System, David White has programmed an outstanding piece of software that will complement any trader's methodology. Using this first-of-its-kind program, The Art of Timing the Trade Charts allows you to scan thousands of stocks for Fibonacci formation setups, including guardleafs, ABCs, butterflies, and much more. The Art of Timing the Trade Charts is designed to help you when scouring the markets for stocks just beginning to form the trading patterns that many investors spend days, weeks, or even months searching to find. And right now we're offering licenses available at only $79 a month. We are so confident that you're going to love this new charting software that will even give you a 30-day unconditional money-back guarantee. Don't miss out on this incredible new piece of software. Get your copy of The Art of Timing the Trade Charts today by visiting TFNN.com. This segment is brought to you by Think or Swim. For more information, just click the Think or Swim banner on the front page of TFNN.com. Okay, folks, I posted a 15-minute chart of the natural gas because we had that monster move, then the big $3,000 sell-off. You notice we went down to 382. You'll notice on the bottom of the chart, folks, I marked two times. They're called key times. The reason why is the first bottom is the key time. And then I want you to see the second bottom because what happened this morning is after hitting the 382 twice, it went down there and it made new lows. But as you can see here, it didn't move a bunch. That told you if you're using market feedback like you're supposed to if you're an astute trader, you didn't have any sales in there. I mean, there was nobody selling down there. There were no stops being hit. And that told you that was a pretty significant bottom. And you can see we went all the way up and made a 1.618 retracement of the whole move up there at 441. So when you're doing that, it's very important to let market feedback give you some edge because it's very, very helpful. If the news is really bullocks and the stuff doesn't go up for heaven's sakes, you know something's wrong. And if the news is bearish and the stocks don't go down, that's telling you a lot too. So just remember that that news is there for a reason and pay close attention to it because it'll save you a lot of money in the long run. Now let's have a little bit of fun here for the next few minutes. We've got a situation here where we can do two things at once. But this is a picture of the gold chart. You notice here, we're expecting a bottom down there at around 1805. We got to 180390. We rallied all the way up to 1817. And then we sold off and we've been going sideways. But you notice the red line, the AI line is now turning down. So the sell comes in at 1813. I know we just hit that because I saw it flash. And so you sell at 1813. You don't have to risk very much here. If it gets above the 786, which is at 1815 and a half, so you're only risking $3, your stop would be 181517. So but your profit objective, because you have the half a day to go yet, could be quite substantial. So that's how I tried to line that up during the day to give you an idea of what we're looking at. You can look here between 10 and 11 o'clock. You can see the perfect ABCD pattern we made from 1818 down to 1810. We rallied up to 1816. It would come right down to the ABCD level at 1807. The low was 1806 and change. And now we've rallied up to the fib point. So we're watching that one really closely. So that's the kind of trade when we're working on day trading and stuff, those five hours that we do a few times a year. That's a trying to trade that we're looking at. I don't usually put the AI in, but I have had some people have some interest in because it does work. And it is helpful at times. But the trouble is it's not 100% like nothing else in this business. So we need to remember that very, very closely. So we're just keeping a close eye on that as we look here this morning. Now, the numbers that we showed you on the ABCDs, those four colors, red, green, blue, and can't remember the other one, whatever it was, you want to be able to tell yourself that that is a possibility because there's four of them up there. But remember, Bart just posted one that showed that we're within 10 points. This could have been the high day last night, if that's the case. Now, we're coming into a giant anniversary date here on September 3rd, which is Friday. That's the anniversary date of the big high in the stock market on September 3rd, 1929. Folks, it took the market 27 years to take that high out. After that was it. I mean, there's never been, you know, that was the longest period that we went, but it was 27 years before the market finally started to move above. If you would have bought a house in Beverly Hills, California in 1929, which was one of the premier places to buy a house, you had to wait until 1959, I believe. Yeah, 1959, almost 30 years later, you finally got back to break even. I know the story that everybody's telling me, but look what it did after that. You're absolutely correct, but I'm just giving you some information, whether it's important or not, I don't know. I have not had any luck with anniversary dates. I know W. D. Gann talked about it, but frankly, I looked at him and I went back and looked at a lot of chart. There's a few that work, but none to make any significant move. I bring that to your attention just because it was an interesting time in our history. Remember, you stop and think of the inventions that were going on in 1929, folks. We were getting electricity. We were getting air conditioning. We were getting automobile. Everybody's getting an automobile. In fact, they were going to be able to afford it. We had telephones, refrigerators. I mean, my God, everything was coming to do at during those years, and yet we went into the worst repression, depression the country has ever seen. From 1932, we didn't start getting out of them until 39, and that's when we started to get ready for the big war. That's how depressions work. The only way you get out of them is with the big war. This time, it'll be fought someplace that we'll never believe in, but that's neither here nor there. Let's remind ourselves, hopefully, we won't have to go back. I don't believe it will be with China, folks, because China doesn't have to go to war. They just have the patience of Job to wait until everything lines up for themselves, and they go back and look at history. They built that great wall to keep people out, and so they don't go to war. I mean, they have a big army, but they certainly don't go to war. Yet, maybe that'll be something down the road. That's as far as I'm going to get with the politics today, folks. No question about it. Now, we need to cover a couple of stocks that we've been watching here, because the Tesla, of course, has broken quite substantially above that level. We were looking at yesterday, which was at the 730 level, and we have smashed through that. Let's get it up here so the folks can take a quick look at it, and you'll see that we've definitely broken out on Tesla, and let's get it right here. Wow, we closed right at 730. That's really strange. Well, that's not really strange, but we closed right at the 730 level on Monday, and yet today's the day that the market gaps up and takes out those old numbers, because we've shattered a 78% level, folks. That gives an ABCD structure on this, and I'll just do this for you right now. Not that I'm involved in this stock, and I wouldn't even buy a car that you can't hear the engine on, but you'll see here that it gives you a minimum price objective of $780. Let's just bring this up so you folks can take a look at it, and that's what we're looking at. I did see a video last night. Someone sent me a video of the Apple car. I have never seen anything that extravagant in my life, folks. I don't know. I have to be real, I think, but this car did everything it parked. It was just an amazing vehicle. It was a sports car. This is not what they're going to be selling of. They're going to sell family cars, but this was a sports car. If this is real, and that is an electric car, Tesla is in big trouble, because that's a really fancy automobile, that Apple. Wow. It looked like something right out of Captain Kirk's garage when he parked his spaceship enterprise on Mars and wherever he did it. Boy, that's an incredible car. It was a combination of a 1935 Bugatti and a Dino Ferrari. It was really an amazing thing. Okay. I've got a break coming up here soon. 877-927-6648. If you have any questions, you know how to get in touch with me, but the lines are full now. Are you in the market for buying or selling real estate in the Bay Area, including the surrounding St. Petersburg, Tampa, and Clearwater markets? Tiger Real Estate LLC is a firm that has extensive experience in the Tampa Bay Area. Whether you're looking to sell your current property for maximum value, or you're in the market for a second home or investment property, Tiger Realty has the experience across all areas of real estate in the Tampa Bay Area to help buyers and sellers make the most informed decisions across all price levels. From the price you should be paying per square foot in certain up-and-coming areas to the type of cash flow investment properties are capable of creating, Tiger Real Estate can help you make the best decision when it comes to all areas of the market. Before you make one of the biggest decisions of your financial future, call Tiger Real Estate LLC today at 727-329-8322, or email us at tiger at tfnn.com. That's 727-329-8322. Call us today. Are China A shares hot or not? If you trade China A shares now may be time to take a closer look. Trade CHAU or CHAD directions daily CSI 300 China A share bull and bear ETFs. China A shares in either direction. Visit directioninvestments.com 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. A prospectus or summary prospectus should be read carefully before investing. An investment in the funds is subject to risk including the possible loss of principal. The funds are designed to be utilized only by sophisticated investors such as traders and active investors. Distributor for 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 and hit watch tiger tv. That's tfnn.com and hit watch tiger tv. Okay folks we're back and I've been asked to uh take a look at copper here for you folks just give me one second here to line this up so we'll be able to uh to see this and see what we're going at right here hold on one second here uh this is copper let me get the chart up so you'll be able to see it not too much trouble uh we made the uh the big abcd to the downside down there at 396 that that's not the abcd that you're seeing here let's make sure we put it in here so that you're able to see the abcd without too much trouble there we go that's the one you want to be looking at now we've had a very good very good rally we've rallied from uh 396 all the way up to 42 we're trading out at 437 that's right at the 61 percent retracement of the high that we made back in august now if this is dr copper you know we we topped in copper way back in may and you know we've still been going higher in stock so dr copper has lost his phd in market uh capability of predicting what the market's going to do because this has been diverging you know a great deal uh from that letter folks uh one of the things that i mentioned earlier today is about you know market feedback and and the only way you learn how to do that stuff is to read books like the reminiscences of a stock operator by edwin le fever which is the story of jessie livermore how he kept notes and what he watched for you know he he would you know he would watch for when new lows were being made and the market had no follow through that basically tells you that there's no stock there's no market force coming in there that's going to uh to help you move it and that's that's why you've got to be extremely careful now if you don't have the ability to stand in front of the machine you know and i don't stay in front of the machine very much not at all unless i have to this is the most i have to during the day i takes me about an hour and a half to prepare for the show but then after that you know i wait for the beepers to go off and that gives me a an idea of what i'm looking at you know we had a pretty good day today because the market did what we thought it was going to do as far as hitting three eight twos in the nasdaq and the dow did the exact opposite but we were doing the nasdaq so there was a choice to have to be made and we happened to see the pattern in the nasdaq and not in the uh not in the dow so that worked out all right you know sometimes you know you have uh you know you have luck on your side and other times uh you don't so those are the main things that you want to keep in mind here to uh watch what's what's happening with these things because they're very very interesting when they when they do uh when they do happen so let's uh move on you know keep your stop above that seven eight six in the gold folks uh so you're risking about two bucks you don't want to get it above well see 1816 it would be my guess somewhere in ed ballpark would be the area because it should start down now if it's going to turn down i thought it would start at the 61 percent retracement and it went up a little higher to the 78 percent retracement so now what we're doing this is the same trade like we had when we were doing the day trading thing back on uh august 19th and we had a couple of really small uh break $100 profits in gold because of this type of really quiet action and unfortunately they ended up being really big winners but uh you know the time ran out and we didn't have any more time to go on the show and then the market broke at the end of the day now we've got enough time here because uh uh the end of the day is quite a bit so that's the main thing i hope you understand you know the the the implication of doing this is uh you got to keep your stops relatively you're if you're trading gold folks it's hard to trade it for less than 300 bucks it really is uh big you know actually it's closer to $600 but $600 in a pattern like this is suicide you don't need to do that at all when you have everything lined up it's either going to work or it's not going to work it's that simple no questions about it tomorrow we're going to have shane's mullion as i guess he's got some very important things to talk to us about regarding cycles that are coming due also the foundation of for the study of cycles have brought out their new newsletter if you're not on the list go in and ask them to just go to fsc foundation for the study of cycles ask for a copy of the book or that this month's newsletter and they'll be happy to send it out to you unfortunately i don't have the link for it i was just notified that it's on its way and but you can get it easily just by going in and asking for it's got some good articles as always and things that we like to see when we're when we're doing this give as much information as we as we possibly can't let me see here uh what i want to do one other thing get this out of the way here see if there's any questions in the den uh no nothing else they're talking about football which i have about as much interest as that as i do in tiddlywinks and uh i don't have any interest in either one of those so that's it they're great athletes but frankly i just don't particularly care my athletes have four legs folks i like the ponies because they live a very subdued life and they don't have any bad habits and they don't always win but by golly they give you the best chance they got and it's a and and you know the only good part of it is you don't have to watch it for three hours it only takes about two minutes and it's only a couple days a week okay let's move on here if anybody has any questions eight seven seven nine two seven six six four eight and we'll be watching this but folks i i i need to get up on my soap rocks but i will one more time it's you know get ready for this folks because when this puppy when this thing breaks it's going to be like uh it's going to be like a Hoover Dam when it was full and breaking not now because it doesn't have any water in it but this is going to be really nasty on the way down i know everything looks great you know everybody's talking about yeah it's going to go higher and it is it's still going to go higher it's still going higher we don't know where the top is yet but when the top is in i'll know that but that that's where you want to uh that's where you want to be careful because you got a lot of 401k folks out there and that's the main thing that you want to be able to do that yes uh larry bird was one of my favorite fact is i i googled one of the great athletes from tarot indiana terry dishinger who played for purdue university i played against him at high school i was a friend of the family and stuff he's a very very successful orthodontist up in portland now he just turned 80 years old and he's in great health and everything and it's got a son that's in the business it's also a orthodontist and he's got about seven or eight guys working for him he's got a huge huge practice up there and he deserves it he's just a really nice human being and his whole family was very nice yet we have a call from niagra falls we have michael on the line michael what's up buddy yeah hi hi thanks for taking my call um what's the open interest figures on the e-minis and nasdaq yeah the nasdaq open interest you haven't mentioned in the last couple weeks uh i was just wondering is it are you waiting for the role into the December contract or i check i check them all the time the problem is there's been nothing dramatic the open interest in the nasdaq has been dropping and there's not class and p s and p the open interest is still going a bit higher the russell is going lower so there's no new buying in the nasdaq up in here this is all uh the logs and shorts fighting it out you know just basically break even every day if we see a big drop or either way or increase then we'll have a better idea but nothing's going on right now no drastic drop in the open interest no just small drops no small drops just just small drops nothing nothing big nothing big at all there were big big increases in the s and p last week on two days but yesterday was not very much and uh so we're up in an area here where it's just dangerous up in here i keep saying that but uh you're talking to a man who's afraid of heights anyway so don't listen to what i say mike yeah like monday was such a narrow rally yeah i mean new york was down russell was down the banks were down yeah now jones was down yeah well we're gonna find out soon enough my friend but thanks for calling in buddy i hope you can get to all that water out in agro falls up there to make some electricity thanks a lot mike sharpening your skills as an investor is like getting better at playing a musical instrument you have to practice sure but you also need excellent instruction from experts at tfnn you'll get advice and guidance from the authority and technical market analysis and it's not just dry tedious text either tfnn airs live financial content streamed live on tfnn.com and tfnn's youtube channel with tiger tv live every market day from 8 30 a.m to 4 p.m eastern for free each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world from the moment the market opens until the closing bell sounds tiger tv has eight different shows with expert hosts to help you make the right moves with your money watch online at tfnn.com or on tfnn's youtube channel and become the investor you were born to be tfnn educating investors markets can rise and fall like the tides subscribe to basal chatman's newsletter the opening call and you too can ride the wave basal chatman is an authority in technical analysis his chatman wave trading system has been helping traders identify trends and capitalize on momentum in the markets since 1984 tfnn invites you to test basal's proprietary chatman wave trading methodology with a monthly subscription to the opening call newsletter for only $149 your subscription to the opening call comes with a 30-day my back guarantee as well as daily market updates on key indexes stocks and commodities ride the wave sign up for the opening call risk-free today introducing primal edge today it's even more important to take a supplement to compliment your health primal edge is specifically formulated to boost your immune system and help with weight loss better sleep stress reduction and the need to detox our early ancestors found all their nutritional requirements in the wild environment but today our food sources don't contain the vitamins minerals and nutrients that we need to stay healthy and strong that's why we need primal edge daily nutrition it includes a special blend of ionic soil based vitamins minerals fatty and amino acids and an easy to use liquid form primal edge is powered by highly concentrated humic and fulvic acids nature's preferred delivery system they've been called miracle molecules because like sunlight air and water without them life cannot exist that's right ellen they ensure we receive all the nutrition we need to be healthy and thrive we take it every morning primal edge just 89 dollars exclusively at tfnn.com hi folks this is steve rhodes stay tuned for another great hour of the trader's edge here at tfnn.com okay folks i posted the chart of the australian dollar because remember last week we were looking for that 382 retracement to hit and it hit its spot on there at 7110 the low was 7091 which was the exact 382 retracement and of course we've had a pretty strong rally from this level this is very important folks from a commodity standpoint because there's so many minerals copper and a whole bunch of other stuff coming out of hawaii hello larry australia so let's keep in mind if we go below there that would be extremely bearish for commodities and many of these are related to china because they buy a lot from australia so this is a really key level the fact that it hit that number and came out of there really strongly to jump two points in that is very very unusual you can see it doesn't have that big a move very often but that's telling you this and it's continued so that's the main thing to to take a look at so let's keep in mind if we get above that 1816 1816 area i say 1816 60 that would be a three dollar risk this would be a losing trade in the in the gold market so but anyway i would expect it to start coming down anytime now we would have sold it at 1813 and then we'll see if 1813 40 and then we'll see if it gets above 1816 40 that would be a losing trade and you'd look to be make at least a three dollar profit on this because if you're risking three you should be making three and that's that's what you'd want to be doing as you're looking at this now tomorrow we'll have shane smolian as our guest we're going to have geogen appley next week and then also tim boss on friday will be a good one and then jc parrots from all-star charts is going to be our guest next week also he's got a big following and he's a very good fibonacci technician with some great charts and does a lot of etf stuff though folks that trade etfs will like him so we'll catch you on the flip side tomorrow folks live every day in an attitude of gratitude and may god bless