the following is a presentation of TF n n the power training our with your host David White call now toll-free as 18 779 276 648 traditionally at 72 74 4 5 10 4 for now David white and welcome all to another exciting addition of the power trading hour with me your humble level squeeze ibly soft post once more into the breach do we go dear friends S&P is off about 34 points worth the lows of the day maybe a couple of points higher than the SP cash low volume is pretty good not as good as yesterday but I suspect that there was a reason for all that volume yesterday and we’re seeing it today with the move back down 2.9 billion shares on the new york consolidated tape as we start the show off well track that throughout the show but the markets really starting to act very much like the energy sector did in august and that is that a lot of these are a lot of the stocks in august that hit lows and no volume came in but guess what there’s one more part to that wyckoff model and that is that it has to close back into the trading range and continue on light volume those stocks did not they hit the lows they never really had you know they had the light volume what they never did was come back into trading range they just went lower and lower and lower and lower and i’m starting to see that in a great deal of stocks and i don’t know if this is some kind of hangover from it was it QE 15 or sun of Jaws 18 or rocky 25 it’s hard to know with all these sequels because they just never seemed in but whatever the last QE was that they killed and of course now the higher interest rates um you just it’s kind of like just putting off the inevitable maybe that’s it anyway I am as I said pretty much toward the end of the year I’m a little bit bearish and by a little bit I mean I’m a Kodiak bear that ate a polar bear that 80 a brown bear that ate at grizzly I matter deccan Archer Baron I might tear Baron of bearishness and we’ve seen that is something i don’t know exactly what but it it was pretty much around eleven o’clock yesterday something broke in the markets and i’m not exactly sure what it is yet I have my suspicions that it is something that will come out of Europe that it is one of those banking issues that’s coming to rear its ugly little head but it’s kind of tough to actually see now we’re starting to get some bearish articles and normally when I see things like Citigroup coming out saying the end is nigh it’s a giant toilet bowl and we’re just writing the torrent of water down the drain I kind of think that maybe we have and are ready for a bounce but normally you hear everybody doing that and in this case just one lone warning it was buried actually for about 30 minutes and then we actually started seeing it on the front page of things like the judge report the judge the Drudge Report other places it started to hit but it was basically the end is nigh and get ready for some havoc and other really bad things and people asked me what do you mean by that kind of Astaria that you talk of the Dave el Blanco um I said I had to go to of course my favorite guy to explain it which is mr. Bing Pinkman mr. Venkman from a few years ago what he means is Old Testament real wrath of God type stuff yeah fire and brimstone coming down from the skies rivers and seas boiling 40 years of darkness earthquakes volcanoes the bed rising from the grave human sacrifice dogs and cats living together back esperia that’s master stereo right so anyway we had to go to

Ghost Busters to really get a good description of what a lot of people are talking about today but most of those people were all in one place in that Citigroup just about nobody picked up the ball on it which made me think that yes we could see much lower we’re at eighteen seventy eight on the SP cash I think we’re headed back down to at least the lows and I think we could do exactly what energy didn’t tell in kind of last week and that is just sit there and nickel and dime you lower every day another couple bucks in crude the same kind of thing in the SP I wish I could have had more to hang my hat on in the general indexes I saw a lot more opportunity in sectors in individual stocks those stocks are starting to create a crack for me today for the path of least resistance yesterday we went for a sector trade in technology that was a last time I looked seven or eight percent today so first good day into those of course a single day huh nine percent thank you a single day does not to actually make a trade my trades I’m looking for somewhere kind of at a minimum of about twenty-five percent and normally I want to see forty percent on the other side doesn’t mean I get it some trades don’t work out but normally I don’t put money to work unless I have a good chance of that I think that there’s well we’re a fourth of the way there in the first day but I think that there is something that has broken not exactly sure what I think we really started seeing it to begin with in amazon yesterday and was there anything really typically different in amazon not really but what i saw was huge amounts of selling and that kind of selling only comes in a few times in a traders in the in a year and that is when there is a liquidity event we’ve gotten down to 50 180 on amazon and i said what it really had to happen yesterday is amazon had to close back above about 5 45 because of the long term confluence levels back there now I think it’s wiped out now maybe maybe it’s still there there it is uh we’d been talking about these confluence levels and I thought you know maybe the market would make it back up to some of these and I could short with abandon the market was far weaker than that it never made its way back up to the nineteen fifty 1970 level which I thought was a good it had a good chance to do but at least my belief kept me out of doing something stupid like shorting early I took a breather I didn’t give a lot of cash back to the market in fact didn’t give any cash back to the market really to speak up and so I’m still got to a fairly good in superior mental attitude to go at the market but you know when these big stocks like Amazon Google don’t do what they’re supposed to doing you start seeing huge selling in it it blows away levels that should be a fairly decent support you really start have to wonder about what’s going on in the broader market did something physically change with Amazon ma’am I mean their sales were off a little did something really change in LinkedIn we’ll get into that um individual stocks kind of a little easier to pick things that did change but for the most part I didn’t see anything in LinkedIn or a tableau data to really say that you know I could have predicted that I did see kind of a general malaise yesterday that made me think were headed lower we’ll be back in a minute TF n n 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 compliment any traders 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 guard leaves bbc’s 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 seventy nine dollars a month we are so confident that you’re gonna love this new charting software that will even give you a 30 day unconditional money back guarantee don’t miss out on this

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the best one it’s only like 110 120 pages but it is absolutely brilliant it’s a book called what is it John Kenneth Galbraith and it’s not reminiscence man I put notes up all the time on this thing I don’t know why I can’t figure it out that where’s my documents market books and quotes footnotes to do stages and then uh where’s it at hat here randomness options expiration Goldie’s language books it’s gonna drive me nuts i won’t be able to continue the show until i get it back Oh a short history of financial you for you but what an excellent book back I’ll bring my notes up here on this right now I try to reread this one every six months just because it is such a good blueprint of what’s happening in the over the years in the market but he was a John Kenneth Galbraith I think was a biographer for Kennedy or the Kennedy family some other stuff real left us as any economist truly is they don’t want to have to actually make money in the real world that would be too tough but but after blow up of two thousand i got into several books this was one of them i got into a lot of books about the long-term capital management to those are all great for figuring out how people start bubbles and why they blow up anyway that was a quote in it and I’ve all the books I read at least market books I kind of make a white paper at least for myself in it but there’s always this little part of every book that I think that is worth phul is that actually gets down to the nuts and bolts of the issue but this is a quote from that book the euphoric episode is protected and sustained by the will of those who are involved in order to justify the circumstances that are making them rich and it is equally protected by the will to ignore exercise or condemn those who express doubts and that’s pretty much why we have bubbles everybody’s getting rich nobody wants to hear it and that is it and all the speculative episodes all have a similar formula and you can dig it out it goes through almost all the best bubbles the South Sea Bubble and the rest of them the inventors are declared geniuses and one of his major rules are that the rule is that financial operations do not lend themselves to innovation and every time you find some fed governor who thinks that he can Jimmy the system it’s never worked in the past never worked in 6,000 years of recorded history but of course they’re all smarter than the market after the initial run additional leverage is encouraging provided QE 3 4 5 6 7 8 9 10 lower interest rates da-da-da-da-da anyway and that says the bubble is ready to burst is attacked or ridiculed the bubble burst the public never blames itself for its greed the geniuses are prosecuted exiled or killed a recession or depression occurs that last many years politicians passed new worthless law dodd-frank a new generation comes along and occurs all over again and he covers many of them to mania John law who literally sold all the land in france on a bubble scheme the railroads various fiat money schemes the you want to buy some swampland in Florida in 1925 the stock market bust in 1929 overseas services in 1960 junk bonds of the 80s the 1987 crash the 1990s saving alone debacle crash praise in US housing actually I’d put this on this list I’d written this document in 2001 and I’d already put US housing on the end of this in fact here’s my note I think we can actually add the dot-com bubble already on this list I think this is mid 2000s and I would already had put US housing on this thing in mid-2000 so well worth a great read out there but keep on it and like I said a lot of good quotes in there the circumstances that induce the recurrence lapses into financial dementia have not changed in any true operative fashion

since Tupelo mania of a 1936 and hmm what else can you say about it good stuff good reading and we will continue on other things of interest you can give me a call at eight seven seven ninety seven six six four eight venezuela is going down the tubes the president down there and his socialist din is eventually run out of everybody’s money including venezuela he’s now telling everybody that the largest privately held company that delivers food is a thief and a traitor of course it couldn’t be any of his [ __ ] policies or the people before him but again socialism once again every time it’s tried it is failed and miserably and of course now we have people saying that they can get us to the level of Greece in no time at all or maybe just Detroit either one will be fine right anyway blaming everybody but himself we’ll be back in a minute 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 David uses his years of trading experience to offer his subscribers his trading ideas each morning in his path of least resistance newsletter using a combination of equity trades along with options David keeps his subscribers up to date with all pertinent market information with intraday afternoon updates when warranted don’t miss out on this great chance to get a 30-day free trial to David’s daily newsletter the path of least resistance with no obligation to pay anything david has been delivering solid recommendations for his subscribers recently and if you’d like to see the type of newsletter he delivers every morning then visit the front page of TF nn and you’ll find the path of least resistance under trading newsletters for all the details and to start your 30-day free trial today log on to tfn now biotech is booming but for how long whether you think the biotech bull has room to run or has run its course trade la be you or el-abd directions daily SP biotech three times bull and bear ETFs visit direction investments com / biotech today an investor should consider the investment objectives risks charges and expenses of the direction chairs 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 86 6-4 7-6 7-5 23 the 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 foreside fund services LLC has the current market volatility continue to stop you out of trades when the market spikes against you now is the perfect time to open up an account with nadex nadex the north american derivatives exchange is a brand new completely regulated chicago-based exchange and unlike most other exchanges nadex allows you to trade directly through them with direct market access when using their completely free trading platform which also features real-time charts and full customization capability one of the advantages of trading with nadex in volatile markets is that your risk is always capped and you have the ability of keeping your trades open even when the market spikes against you nadex is completely brand new with a line of unique trading products that are unavailable anywhere else see how it works at nadex calm that’s na de XCOM or click on the nadex banner on the front page of TF NM calm futures and options trading involves risk and may not be appropriate for all investors this segment is brought to you by pink or swim for more information just click to think or swim banner on the front page of T F&N calm you I’ll have to see my brother find out what he can do for you that won’t be any Joker with like and I’m all through I want you are my is you’re going up in my estimations I want a thousand shares of your swing again will call them hugs and

kisses when dividends our time in the market oh how could it be i’m in the market for you yeah anyway bear markets uh just uh it was I think it was Andy had a guest on I can’t remember now it’s one of the guys that he worked with my memories the shortest thing I got um second shortest thing I got uh bear markets out here and the question I had he was talking about how long bull markets ran never really discussed it there was some people out earlier this week and I think this was a trying to remember the company that did it damn anyway I can’t remember and out if I don’t write it down right then I forget but there was another thing that I was talking about earlier this week about how many companies that it actually reported more than their estimates on the last day of the year compared to that they moved them all down why no one was looking between the end of the year and the first of the year uh no surprise everybody beat well they didn’t really beat they just moved everything down and of course now everybody knows but it was very interesting anyway these bear markets I’ve looked through I’ve seen about four or five different surveys now and just so you know we a lot of people talk about how long bull markets last but finally got some decent data on how long markets last the average length is 362 days so I i never got whether these are trading days or actual where aguilar days but i’m assuming that they didn’t go down and count how many vacation days were out there so i’m assuming these are regular days when there was no recession 192 days with a recession 508 days so you can really start looking at how bear markets come along there are a lot of charts that show bear markets show up even in decent economic times but what you can say is bad news for the economy is very bad news for bear markets but just give an idea that you know we’ve had a very long bull market would it be surprising to see something at with a bear market that would last 500 days or longer I suspect that we have at least into the election for the before this bear market would even have a chance of resolving itself had some questions about whether or not I would the some stocks I like and I think people are confusing stocks with companies I like and that is you know if you get a linkedin you’re going to have six months or maybe a year of that thing bouncing around it lows before it’s probably any kind of decent long-term by so I’m not waiting for the first load to go diving into LinkedIn or tableau data or any of the other ones have been creamed overnight but you know these bear markets we got to say that probably as they start this thing really started first of the year so would not be a problem and see these things last into the elections one of the other things I saw and I’ve got a chart for that I thought was very interesting today was they went through about fifteen years of earnings on this was the California State University and figured out how bad stocks got hit and if you knew that things were bad you as a CEO came out early and said okay things are not going to be so good your stock feared a lot better over time then the people that just said surprise and that was over in fact there’s a nice little chart here from CNBC but I saw but pretty massive change in fact if you had were and we’re going to have a bad earnings if you came out before it you have basically about a three percent and this is on thousands of thousands stocks you’re going to be supported much better and I really was thinking about this when we were looking at data and tab in tableau software & linked in last night and watching these stocks absolutely get eviscerated and it’s just kind of hard to actually see it Tableau Software off by forty-eight percent today linkedin off by forty five percent Lions Gate Entertainment off thirty-five percent somebody asked me if that was going to

squeeze lionsgate we’ll look at a chart at it but it had maybe the lowest short interest of any stock in the market and this goes back to my theory where you don’t want a lot of people sorting these thoughts because they’ll be the first ones to start buying on the way down all these stocks had very light short interest because they had and kind of been hit before and scaring a lot of people Splunk off of about twenty four percent it’s a data mining company outerwall the redbox company off eighteen percent hanesbrands fifteen percent aetna health CEO was out today on CNBC said some very interesting things none of which they put on their website so i can’t send it to you i do have it recorded i’m going to chop it up and play some of these segments that were quite interesting from his interview on monday down eleven percent Tesla off eight and a half percent Stericycle off four percent so pretty much a bloodbath on the positive side Tyson Foods up ten percent post Holdings up ten percent ubiquiti networks up nine percent I’ve always loved the company but not talking about the stock it’s always when I talk fundamentally about products make sure that you understand the difference between that and technically in the stocks but back to my point here it pays to be early there’s some significant data out there you just google it you’ll be able to find it but this would tell you a CEO not to wait until the earnings date to come out with the bad news very very significant data saying that your stock is going to get hit a ton worse by waiting until earnings a date to drop the chalupa anything else out here now it’s a mad mad mad mad mad market so let’s start looking at stuff out here we already looked at amazon if there’s anything else out here let’s look at the ubiquity so I’m not a debbie downer all day today you be in T this one that did rally they make an RM acre of one of products that i have several of and i love and that is kind of wireless routers for companies you know if you go into a big business they sell a great deal of them they look like smoke detectors sometimes now they’re trying to disguise them but a very good job on this thing is up to 35 bucks today still up very well at thirty dollars and seventy three cents but as we said yesterday man you got to take the money and run and you get it these days we’ll be back in if you’re an active trader looking for that extra edge when it comes to trading and investments then now is a great time to get a two week free trial to Tom O’Brien’s daily market letter market insights Tom O’Brien’s daily newsletter market insights comes out every market day at around 930am and provides Tom’s daily commentary on the broad market including the dowel NASDAQ and SP plus specific trade recommendations there’s even an update published most afternoons to keep you informed about the day’s market activity he’ll give you the entry price price target and stop price of each stock and option trade with market insights there’s nothing left to guessing for all the details and to get your two week free trial to market insight started today TNN calm today it’s hard to tell if the economy’s comer going regardless I want my money going in the direction I choose if then she stands as well then you want to know how ever been can help keep your money thriving just the way you want it’s growing your money a priority every bank is committed to a yield pledge promise to pay high yields on your checking money market and CD balances looking to diversify everbank ingeniously developed accessible ways to spread your money around the world into foreign currencies and even non fdic-insured metals and when it comes to your wealth they bring a highly experienced in global perspective to help you manage it Emma banks financial philosophy flies in the face of the status quo they believe your money’s performance should not be determined by today’s economic circumstances but by the drive to rise above them and create opportunities that favor your objectives if that excites you like it does me visit every bank calm /t fnn to find out what they can do for you again that’s

ever banks calm /t fnn visit them today everbank is a member FDIC and Equal Housing lender TF n n is excited to offer a brand new piece of market scanning software unlike anything the industry has ever seen John Logan and his team have spent years developing their market profile tools to finally be able to release the task profile scanner plus and right now you can get a two week trial absolutely free just by visiting TF n n calm and providing us your name and email address the Taz profile scanner plus is the premier market profile based scanner in the industry powered by the acclaimed has proprietary algorithms this feature-rich scanner is a standalone desktop software that instantly filters over 2,500 global financial markets such as stocks ETFs commodity futures and Forex within three minutes of signing up you can have the software downloaded and running on your computer with a complete roadmap of market indicators and inflection points to trade off using the TAS profile scanner plus sign up today and try this amazing piece of software by visiting TF an com this segment is brought to you by TF + n test drive all the newsletters for free at Stefan and oh well what can you say um maybe maybe it’s just my upbringing as a son of somebody that fought socialism and communism forever that I can’t see it huh but I don’t think so uh anyway what else can you say out here ubiquiti networks um out here pretty tough post Holdings also up if I can actually type it key OST nice pop in this some of these stocks are up now this one held a little bit more than most out here and you kind of have to take a look at it Oh uses appen what do I have to always get to that anyway post Holdings manufactures markets and sells private level label ready-to-eat cereal and primary products and again as we’ve talked last week this is a sector that I don’t like shorting weird somebody called in wanted short prop Procter & Gamble I think he and G I said yeah I’m not a big fan of shorting these this is what everybody runs to and I didn’t think the earnings were that great but that’s it now I was going to look at Procter & Gamble out here now this had some decent earnings I think that’s what that gap was last week or the week before last and procter & gamble but these continue to be the place where everybody wants to go hide and again any of these food stocks seem to be pretty strong if you only will go long as stock this is kind of where you want to be looking Tyson Foods blow off to the upside out here it’s given quite a bit of the fat got to fifty eight dollars and ninety-five cents today much lower out here today what is it 5705 pretty much now that right Tyson food 5687 is the last tick out here but had some decent volume all these stocks you know in a bear market it is problem at best I would look for the same to come back into the trading range but as more and more people sell their stocks look for more and more people getting into the food’s services the Procter & Gamble’s all the other stocks of stuff that you have to buy no matter what you might buy a little less but if you’re parking money it is big we talked about outer wall this is one of my stories of the fish story that got away I missed this thing back up here at 80 bucks I wouldn’t hold it through earnings I was a little unsure about it I thought it was going down and of course it’s never given me a chance to get back in another down day on a heavy volume these are the guys that have the kiosks for counting your coins for coinstar and of course used to be known as red box and of course they delve in the dvds there may be a good fundamental reason for buying the stock and it may be the dvds that are the ultra high-definition coming out over the next year because there is going to be a real problem getting that kind of high-definition data actually these TV sets but I don’t smell a low anywhere close to this in the near future you can give me a call at eight seven seven nine to seven six six four

eight you can post an email to me at path at T F&N calm and you can post a message in the den okay thanks sandy I had already looked it up but she was saying it was John Kenneth Galbraith also wrote the crash of 1929 I just like the the kind of overall view when I recommend the book of that of the all the bubbles that blew up and she said crash twice I have a few others out here to a regular listen to your show we talked about this earlier data linkedin do you ever see where they would be a buyer you’re going to have such a long time before these things bottomed out the destruction these stocks have had I’m not going to be out here bottom fishing for these things anytime in the next six months so after about six months was take a look and see whether or not data and LinkedIn have found some kind of low amazon I’ve been short for three weeks I don’t know he’s looking for a gap fill at 300 gap filler 500 I don’t understand that email all but you could be an email path at F&N calm and put something in the den here if you want me to look at anything before the end of the day we just have a few moments left in this show let’s go back and check and see what kind of volume we do have in the SP as we move along got to a low of 1875 we’re at 1879 now in the cash 3.3 billion shares so volume pretty good for friday could we bounce a little on monday i think we can but i think the die is cast out here nobody’s wanting to be a hero going into the weekend the earth just have decidedly turned down for the most part and i don’t see anything that really changes this probably going to continue to see the liquidation and stocks people can actually sell and not the stocks that are already down we’ve talked about this before and that is in a bear market a lot of people think well you know amazon they’re going to continue to sell stuff maybe it’ll be a little over it’s not going to be two hundred bucks lower is it well it gets to the point where you literally can’t sell a stock at all going in especially if you’re big and you’ve got a hundred thousand shares you can have the price of a company in five minutes just floating the hundred thousand shares so what do you have to do you got margin calls coming you sell amazon you sell a tesla you sell anything out there oh we didn’t look at tesla out here today a lot of a guess it was a yesterday a discussion in the den show about Tesla I’m I’m about as bearish as you can get on a company we’ve talked about this forever for all the reasons tesla is going lower and are much lower today out there volume did pick up a great deal one 5774 out here and of course energy to the downside has just blown away everything I don’t know where this thing is going to find a bottom we’re going to go to Mike in Toronto how you doing Mike yeah hi thanks for taking my call I want to look at the energy stocks the cpg that’s the crescent point energy on New York the XL e to look at one at a time here damn slow and the third one of UGA gasoline well we’ll just look at Crescent here to begin with and then remind me of the others I’ve already forgotten about them okay Chrisette point energy cpg what are you thinking about on this it’s beta very well today I mean somebody bought the open and we’re we’re hovering near the highs and you’re right at confluence thanks so my trading plan would if I would have bought it at the low at 872 on january twentieth would have been to sell it right here energy is a little better off the slow you did have a test of the August twenty-fourth low on lighter volume so you’ve got to like that but after the this is no different than my discussion of buying any of the other stocks we talked about like data or Tesla Tesla or the rest of them after you’ve gotten such massive destruction it is exceedingly rare that the markets just turn around and take off they have to consolidate for a long time much like gold did how long is gold been gone sideways nine months I don’t buy the incident V theory that everybody’s floating out here in energy or in the rest it takes a while to make the bottom gold is a good example we’ll come back

with this gentleman after the break Tom O’Brien’s weekly gold letter the gold report gives complete and concise coverage of the entire gold market inside you’ll get toms commentary on gold the dollar the r and the bond the x au the hu I and detailed coverage of nearly 25 mining stocks he’ll give you the entry price price target and stop price of each stock trade the gold report is a long-term newsletter where the focus is on building real wealth through the management of a successful portfolio of gold stocks with a lifetime of knowledge and almost 12 years of riding his informative weekly newsletter the gold report Tom O’Brien can provide you with the important market information to help you make better trades in the gold market don’t let the next will run and gold pass you by to get a month-long free trial to the gold report an 85 dollar value visit the front page of TF and today david white’s newsletter the technology insider is focused like a laser on finding the next big things in technology if you had invested only ten thousand dollars in Microsoft in 1986 you’d have been a millionaire by 2000 disruptive technology like Microsoft’s is the key to these massive long-term profits and the tech insider is the vehicle from TF and then to capitalize on these opportunities this is the go-to newsletter that identifies monitors and profits on mostly little-known edge companies with great long-term prospects David’s experience is as an inventor of emmy-winning animation products for TV and Hollywood that propelled a company public 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 full market for less than forty dollars per month log on to TF n n calm and get your two week free trial to the technology insider get in on the ground floor of the next big thing today hi I’m Steve Rhoads host of the traders edge for daily at TF intercom and author of mastering probability a daily investment and trading newsletter services I send out each morning by 8am my morning newsletter service covers exactly what the markets have been doing since last night’s clothes provide a new with an edge on your trading day ahead you get actionable trading ideas including the exact entry stop and profit targets plus I’ll teach you the patterns and hidden market correlations that will make you a better trader as a subscriber you’ll gain access to my 90 minute money management workshop where I’ll teach you the secrets that’ll save your assets the bottom line I’ve got your back included a 30 day money back guarantee see for yourself the type of analysis I provide each trading day by sending up for mastering probability today with nothing to lose this is an offer you should not pass on mastering probability can be found under trading newsletters on the front page of TF am calm catch Tom O’Brien professional trader and educator founder of TF n n also a special guest on CNBC Tom will bisect and dissect the markets the Tom O’Brien show next on TF n n and we’re back with Mike in Toronto where I snap a great deal of time in the 90s flew up there every two weeks or what 10 12 years whatever the out in markham ontario how you doing Mike still there could you look at UGA UGA I’m pulling it up here yeah that’s gasoline that’s a gasoline ETF yeah it’s into the high of the low bar the monthly bar from 2008 mm-hmm okay we’re gonna hold here or do we go and retest the 2008 lows at 16 uh my guess is we go test the lows really yeah anything out here look the collapse huh uh yeah I think so I think we’ve got one more leg down in all of these energy sectors and the reason why is the collapse of probably some European banks so I think the unless the economic news desperately changes or I see a change in the Baltic Dry Index let me be bled up real quick um to do how do I do that then I move to new window there we go here’s the Baltic die index a good example of looking at this I

don’t see where any signal comes in that there’s been a low made in the industrial sector that means that we’re going to be burning lots more fuel can it you know we had a bounce from what 33 243 and it came back down I think we’re just kinda in that same thing I want to see a sea change in the price of the Baltic I Dry Index it’s down five bucks again today fact i was talking to Andy heck about this yesterday and we were i was kidding him i said forget amazon you want hundred thousand tons of iron ore chippings free um of course for those people that don’t know what the Baltic Dry Index is it’s anything that you don’t like throwing a bag somewhere and then ship it’s stuff that you know you literally see wheat and grain and iron ore just fill up an entire ship and they send it somewhere that’s what this index is all about and to me you wouldn’t you wouldn’t touch UGA until it does a double bottom at the 2008 Lois I want to see a low in this Baltic Dry Index that tells me that anything is made alone to me that’s the first spot where we’re going to see that there’s been some kind of low the ships come off you know that they can actually start charging more for shipping until they don’t until they do that I don’t see anything out there that tells me a low has been made in any market ok so I’m going to be a seller as I said this week I’m a seller of all bounces until we find some kind of signal out here I think it’s going to be in the Baltic Dry Index though that says that there is a low in industrial consumption and I just see this thing going lower every single day bad another five bucks today down 1.65 it just hasn’t move it it just goes down and down and down and normally I think we’re going to see that crude is going to follow that same path ok thank you you better thanks for the call we’re just about out of time I will be in the 340 segment of the next hour with Tom O’Brien and I think at three-thirty we’re gonna have Steve Rhoads right before me he’s gonna be talking about his new webinar so make sure and listen to that you don’t listen to Steve regularly uh and other than that like I said I am a turducken of bearishness I’m a polar bear that 88 a Kodiak that ADA grizzly the date a brown bear we’ll see you Monday same bat-channel same bat-time Larry Pesavento has just started his brand new service Fibonacci 24-7 and he’s already delivering content to his subscribers on a daily basis when the markets opened and even on weekends each Monday you’ll receive Larry’s written report that provides detailed commentary and a summary on the charts and videos that Larry sends out and throughout the week when warranted Larry will send out via charts or videos or both the key markets that he is watching during the day this will be up to the date active trading information that will help you in your daily trading in Larry’s first week alone he sent out 25 charts six videos and a full report to his subscribers in just one week if you’re a technical trader that uses patterns and retracements to trade then Larry service Fibonacci 24-7 is something that you must try right now new subscribers can get a full 30 day money back guarantee with nothing to risk sign up now to Larry Pesavento Fibonacci 24-7 by visiting the front page of T F&N calm under trading newsletters you’re watching Tiger TV