Today is Thursday, the 11th of December, the second last day of the cup, tomorrow, Friday, the 12th of the last day. We haven't had a huge amount of progress in negotiating the text. Negotiations went in up to about 2 a.m. last night and didn't resolve a great deal. They probably will do the same again late into tonight, although the ministers are now engaged as Secretary of State Kerry is in town, Al Gore is in town, Vanity Moon is in town. So it's gone to the high political level. Residents and Prime Ministers are involved in finalising some kind of a deal. We're not sure what it is. It will probably be revealed tomorrow. But we've had a lot of additional action. One of the things that the Lima COP presidency, the president and minister of Peru wanted to do, and I think they've done fairly well, is to have many other things happening in Lima. So there was a People's March in the city. Today there were a number of launches of actions by different countries, by governments, by companies, by civil society. And we want to build momentum, positive momentum, in terms of tackling climate change in the real world. As opposed to negotiating words on a piece of paper with negotiators too, and have been doing for the last 20 years. And the same negotiating positions are put forth year after year after year with very little change and very little progress. Not no progress, but very little progress. So hopefully in Peru we may break that mode. By tomorrow we may have a good Lima agreement. And at the same time a lot of momentum for action. One of the good things is that the government of Peru and the government of France, who are going to be hosting Paris COP next year, are together taking this actions program forward from Lima to Paris. And hopefully it will build even greater momentum in Paris next year. So even though things look dark in the negotiating rooms, hopefully there's light at the end of the tunnel, or as they say, it's darkest before the dawn. Tomorrow we shall find out if we actually have a dawn or not.


Today, we're doing 240 training. I want them to be comfortable with their weapon system. I want them to be fully engaged. I want them to feel comfortable knowing that they did everything here and they would get them prepared to accomplish the mission. It builds confidence in the teams, especially with our 240s, the vital weapon for light infantry to cover our movements, the most casual patusing weapon that we have. So it's very important that these guys feel comfortable with their weapons so they can run a gun and cover the rest of the platoon. Training is really important when it comes to doing your job in an actual environment and not through just training environment. The more you train, the more proficient you'll be in your job and the better you'll do.


Good afternoon to everybody. First of all, I have a series of people to thank for, first of all, the students. I would like to congratulate you to reach for reaching the final stage of the Generation Neuros students award competition. Well done. You should be very, very proud of what you have achieved. But there is also a second group as important that I would like to thank. Without them, you wouldn't be here. So I'd like to express a special thank to your teachers. I'm sure you would all agree about their dedication and the guidance played an important role in helping you win in this competition. So dear teachers, thank you. Thank you all heartily for not only teaching, but also igniting the passion in your students, nurturing their interest and curiosity in Europe. The third set of people I need to thank is the families and the friends.  And your support has been crucial to your students' success. So today, we have many reasons to celebrate. First of all, we have Europe Day reminds us of the Schumann Declaration of 9th of May, 1950, which proposed the pooling of coal and steel industries and led to the first European community. Now today looks like something that's not important. If you go back until in 1950, it was three years after the end of the Second World War. And coal and steel were the basic components of all the armaments and the weapon industry. And they've been considered one of the major parts of the strength of a nation, both in the first and the Second World War. So the declaration to put all these key resources together is really a landmark in our history. Now this eighth edition of the Generation Euro Students Award also coincides with the 20th anniversary of the euro. Our single currency is the most visible form of European integration, one that citizens encounter every day. The euro has brought us 20 years of price stability contributing to prosperity and growth. As I said many times, this is unquestionable, but there are things that need to be finished, completed, done better than we have done so far. Today we also celebrate you and your fellow young Europeans.  And you are also the future of Europe. I mean, the ones who say, I want to return, you are people who just, what would you do when you hear people say, I want to return to the old currencies? You just laugh. That's the only thing you would think you do, and I would join you by the way. We cannot ignore that European integration is becoming more contested today. There are many who feel that Europe has not fully delivered on its promise. Youth unemployment, social inequality, and demographic changes are serious challenges which we can only address together. Ensuring prosperity and stability over the long term can only be done jointly by the citizens of Europe working together. So for this, we need you. This requires everyone, including young people, to get involved in debates and speak up for what you believe in. The student protests on climate action are one example of how you can make your voice heard. And other ways, by taking part in the forthcoming European elections with your vote, you can shape the future of Europe. And don't have any doubt about that. We are interested in what you say. It's important for us at ECB to listen to what you have to say through initiatives like this one, our online competitions, and youth dialogues. We engage with young people all over Europe. And I will listen to you. So let's open now our discussion. Thank you. So welcome back after our first session yesterday. And I would like to start the ball rolling with the president. We will answer your questions. And so I'd like to invite Konstantinos Kutsubas from the BIMSEM School in Belgium to ask the first question over here. You want to get a bike? Do you think the ECB is independent enough or should we abandon that idea? No, I think the ECB is independent enough. I think we've shown this on all throughout its existence, I think since the very beginning. And the issue is why should central banks be independent? That is a good question because it's not been like that before. It's only relatively recently that central banks are independent. It started, I would say, a general movement towards independence of central banks takes place in the late part of the 1990s of last century. There were cases of independence like the Bundesbank, which were rooted in the previous experience in the 70s. And it was since the beginning of the Bundesbank's existence. But others were not. And it's only after the experience of the 70s that the high inflation rates combined with the high unemployment rates that central bank independence becomes a cornerstone of modern economic policymaking. And the reason is that you see, well, we have to be careful there. Central banks are independent because independence is crucial for the credibility of the monetary policy they run. But independence has to be carefully circumscribed because central banks are a combination of things that prima facie looks kind of strange because they are independent. They are very powerful and they are not elected. So how do you square this? And the way to reconcile these three aspects of central banking is that they are independent within a mandate, which in our case is price stability. And the mandate is defined by the ones who are elected, namely the legislators. And that's how we square independence, power, and accountability. So the underlying content, the underlying meaning of this is that basically central banks are not independent as far as the mandate is concerned. But they are independent in the ways, the tools, the instruments they use to pursue this mandate. I move on to question two now. We have the next question from Felix Stingel from the Hans-Seil-Gennasium in Germany. Hello. My name is Felix Stingel from the German team Casualation. And dear Mr. President, Harvard professor Paul Tucker said, national central banks should not only talk to financial markets, even though they are important. It is also important to talk to the general public, to explain to them what inflation and deflation means and why it is necessary to guarantee financial stability. People must understand the role of national central banks. Therefore, you have to explain it again and again. So dear Mr. President, what is your opinion on this topic? Now, of course, I agree. And if you look at how communication, central bank communication has evolved over the last 20 years, you can see that there is a constant effort to be transparent, to explain things better. Just think about that in the mid-90s, so about 20, little more than 20 years ago, there was one central bank, the very important central bank, where interest rates were changed and nothing was said. Nobody knew about that. Markets had to infer from the behavior of prices that the central bank had changed interest rates. Just to tell you how things have changed now, we have press conferences, press statements, speeches, occasions of public encounter in the European Parliament here, a continuous flow of communication. So things have changed considerably. And the language has been used, it's changed also. It's not a longer, it's not a time any longer when governors could actually pride themselves on not being understood. That was another point of communication 30 years ago. When governors listen, if you have understood me, I think you must be wrong. There was something said along this line. So things have changed. But there is one caveat that I would like to throw into this. Markets should not speak only to, sorry, central banks should not only speak to markets and banks or bankers, should also speak to other people, true. But one has to be extremely careful, because as soon as one addresses other people, and it should do so, it should do in a very careful way, because one risks to get into the political arena. The natural audience of the politics is the people. So the central banker has to be careful in the way addresses the people who are not markets or banks. Thank you. And I'd like to move on to the next question, to ask Marta Laurado from El Colegio Mare de Luz del Ángeles in Spain to ask the next question. Good afternoon. The latest ECV survey of professional forecasters revealed don't worse revision to inflation expectations to 1.5% in 2020 and 1.6% in 2021. Is it possible that the ECV's inflation target is not a reflection of the current economic situation? The real question is, therefore, is the ECV considering any kind of realignment of the inflation target? Thank you. Well, that's a question I've been asked. The first time was something like five or six years ago. And this question has been asked whether it means that we should raise our inflation target or lower our inflation target. And the two have different meanings, of course. If we've been asked to raise our inflation target, because the argument was, if you do so, inflation expectations will also adjust to a higher inflation. And therefore, the actual inflation will also go up. Now, of course, if you raise inflation when you are not even able to reach what the target of inflation is, this may kind of lack of little credibility. The other question or the other suggestion was that since it's been so long that we never reach the close but below 2%, why don't you lower inflation to something lower and you accept defeat? And that's exactly why we are not doing it, because we don't accept defeat. But also, there is also another reason. If we accept a lower rate of inflation, what happens is that implicitly, we raise the real rate of interest. You know the real rate of interest, the nominal rate minus the expected interest rate, the expected inflation rate. So if we lower the expected inflation rate, we raise real rates, and this will produce a contractionary and negative effect on the economy. So there are good reasons, but more generally, one doesn't change the objective when encounters difficulties in reaching it. As I said before, the first problem with that is that any action on the front would lack credibility. But let me also add that in fact, all our research shows that there is still a link between inflation expectations and the state of the economy. This link has been changed, certainly, over the last 10 years for a variety of reasons, first and foremost, the very long, almost unprecedented crisis. This has produced a series of behaviors that led people, one of which was massive unemployment, poverty, fall in demand, and has led people to think that prices would never go up again. So there are lots of reasons why inflation expectations are now reacting, and therefore, actual inflation as well, are now reacting more slowly to the changing economic conditions. But what happened is that we, of course, like to say that it's mostly because of our monetary policy, over the last five, six years, about 10 million jobs have been created in the eurozone. And if I'm not mistaken, never in the history of this part of the world so many jobs being created in such a short time. And with the jobs also, and with the gradual tightness of the labor market, what happened also that pressure on nominal wages is going up. So the now nominal wages compensation per employee, negotiated wages, these are all different definitions, some of them are above their historical standard. Still, we don't see yet the feedback or the transmission of these higher nominal wages growth into a higher inflation. It's taking longer. Right now, one of the reasons is that profit margins are being compressed. And we know that it's a matter of being patient and persistent with the accommodative monetary policy, and it will come, it will happen. We now have a question from Florin Ioannò Gerardi from the Instituto di Instruzione Superiore Baruffi in Italy. Buongiorno, Presidente. Buongiorno. What could be the consequences of a hard Brexit as the ECB already put measures in place to help it deal with such a scenario? Let me answer this way. There are different parts of the economy that a hard Brexit may affect. Let's first look at the aggregate data. If we look at the aggregate for the real part of the economy, all in all, the size of the UK interchange with the eurozone is relatively contained with respect to the overall size of the eurozone. However, there are two sets of observations one has to make. The first is that there are certain countries that are unquestionably going to be more affected than others because the interchange with the UK is much higher than the rest of the eurozone. So how these economies are going to be affected by a hard Brexit and how this will reverberate on the rest of the eurozone is one thing that we have to watch carefully. The second thing is more complex and very, very difficult to watch. The modern production process is very fragmented. In other words, the same product that we buy in a store is often being produced in many different parts, each little component is being produced in different parts. This is typical for the car industry, but it's also one would see it for any product right now. Nowadays, the specialization has become so important. And so a hard Brexit, meaning a sudden interruption of trade flows would affect all these different points of production. We call them value chains in a way that it's very, very difficult to observe. Now on the financial side, which is the aspect that has received most of the attention so far, in the last several months we've run preparation and works jointly with the Bank of England examining all the areas where we could have unforeseen events. And there are basically two sets of situations, one in which the action by the public authorities is needed to hamper, to avoid, to eliminate potential disruption and situations where it's the markets that have to adjust there. It's the private sector that has to adjust their various contracts to take into account the new reality. The first part has been addressed quite effectively, I believe, by the European Commission together with the UK Treasury in basically telling, in simple words, telling people, look, for the situations that are complex, don't worry. You're going to have a one-year time to adjust. And this has been a big, big important game-changer that the European Commission did about two or three months ago, maybe four. On the private market preparation for that, we have the impression that private markets still don't, at least, don't believe fully in the possibility of a hard Brexit. And so they are kind of slow in adjusting the contractual terms or other parts of their contracts as if a hard Brexit were to take place. So with their continuous messages to the markets that they should speed up and so on. So that's what I can answer now. The situation would certainly become complex. And therefore, we're all ready and hopeful that no disruption will follow as far as our angle, the financial part. Thank you. And I would now like to invite Katarina Auer from Haile-Ve Browno in Austria to ask her question. Well, what are your plans for the future when your term of office comes to an end? And what will you remember most from your presidency? Thank you. Thank you. Well, I don't know. Frankly, the answer to the first question, it's true. I'm not trying to avoid the question. It's just I don't know. First of all, I still have six months to go.  And I made no plans whatsoever for the future. So we'll see. Now, what do I remember most? It's been a very, as you may imagine, a quite interesting time. So there are many, many things that I may remember of this experience. Certainly, one thing that comes to mind comes to your mind as well. It's been the time when in 2012 when the interest rates were skyrocketing and the spreads were booming about everywhere in the eurozone. And frankly, there were lots of people, especially I would say not in the eurozone, but outside the eurozone, who were actually thinking that the euro was dead. Then all of a sudden there was a change. There was a change, a big change in that year, in the last part of the year. And that was due essentially, in my memory at least, to one factor which the markets completely underestimated, namely a very important European council in the early June which created the banking union. Markets paid no attention to that. And as if it were something they were so discouraged about the future of the euro that they thought, oh, it's another of those political meetings, which was indeed, but it actually produced important results. And again, markets underplayed that, underestimated that, showed the political commitment of our leaders to the euro. All these people in the world thought the euro was a technocratic experience. What that council and the subsequent actions by our leaders have shown is that it's not only a technocratic experience, first and primarily it's a political experience in which a whole generation, more than one generation of leaders, have invested all their political capital. The rest was market action by the ECB, but it's much less important. All right, then let's continue with the next question from Margarita Simões from the Collegio de Santo André in Portugal. Good afternoon. How is it possible to apply a single monetary policy across the euro zone when the social and economic situations in the 19 countries vary? Sorry. Well, that's a really difficult question. It's at the heart of the monetary union. When, as you probably all of you know, the monetary union is based on an article by a Nobel Prize economist, Robert Mandel, who wrote an article in the 60s, I believe in the early 60s. Yeah, I think so, entitled, Optimal Currency Areas, where he defined what an optimal currency area is. It's not the 60s, it's the early 60s. OK, thanks. And he listed certain features. When the euro was created, it's quite clear the euro zone was not yet an optimal currency area. Many things were there, where in place other things had to be created. Until this process is finished, we'll have to accept the fact that countries are going to differ between them, not only because their initial conditions are different, but also because there are less mechanisms that would make them more homogeneous than one might wish in an optimal currency area. That's why it's so important to proceed, to continue with completing the projects that we've started, namely completing the banking union, create a capital markets union, start thinking about a fiscal policy or fiscal stance for the euro area. But to do these things, you need trust between members because members are different. And in order to put things in common, like all of us, they have to trust each other. To trust each other, members have to show that they are able to run economic policies that will strengthen their productive basis. That they make, we call, we use this word called structural reforms. But structural reforms basically mean to become stronger. And they are not easy. And each country has its own agenda, of course. They're not the same everywhere. So it's a complex process where this trust is gradually built upon action. And at the same time, we have to complete the projects we have in place. So our next question comes from Andre Mochris from the team in Slovakia. Hello. I would like to ask whether there is a place for cryptocurrencies or the blockchain technology in the future financial market and whether the traditional financial institutions like the ECB aren't afraid of its potential. Thank you. Well, the answer is it's going to be a very small place, if any, at all. The point is that cryptocurrencies or bitcoins or anything like that are not really currencies or assets. A euro is a euro. Today, tomorrow, in a month, it's always a euro. And the ECB is behind the euro. Who's behind the cryptocurrencies? And so they are very, very risky assets, the value of which oscillates, as you've seen, widely. At this point in time, they are not significant enough in their entity that they could affect our economies in a macro way. And so we tend to consider them as speculative assets, highly risky, but as far as the rest is concerned, it's not really something that pertains to the central bank, the task of monitoring and regulating, possibly, this. It's more, what I would say, more something that falls within the consumer's protection competence, where you want to make sure that people who buy into these assets know what they do and are aware of the risk they run. Completely different thing is the digital ledger technologies and another technologies development, digital developments, which, in a sense, may change the relationship between central bank citizens and savings and banking system and so on. These developments, we monitor them carefully. There are people who work on that all over the world. But that's different from cryptocurrencies. And we'll move on to the last question. I'd like to invite Nick Smertjoz from the team representing Slovenia to ask the last question. Dear Mr. President, with the rise of Euro skepticism, many people assume that the Euro represents something bad and that it is responsible for the rising prices of goods and services in countries that have adopted the Euro, including Slovenia. What can the ECB do as an institution to bring the Euro closer to the citizens of member states that are about to adopt the Euro? Thank you. Thank you. I'll answer quickly to the last part of the question, which is the ECB should stick with its mandate. And that's it. The other point is whether the Euro has been bad in the ex- it's true. In the experience of many countries, joining the Euro has caused an increase in prices. Now, there are many causes for that. But in fact, in terms of if we look back and examine the inflation, the overall inflation, not individual prices. We don't see, actually, a big jump in inflation. We see jumps in individual prices. In the past, I don't know about the case of Slovenia, it's quite clear that in the past, in some specific countries, these increases in prices were due to the kind of awkward or mistaken way in which the conversion from the old currencies to the new currency had taken place. There were specific administrative bureaucratic failures at that time. But this really doesn't explain this overall stance. By the way, when we talk about the stance that people have towards the Euro, we have to acknowledge two things. First is that there is an overwhelming support for the Euro today. I think it's the historical maximum now. If I'm not mistaken, it's between 72% to 76% of the people are supporting the Euro. So if that is so, you ask yourself, then, why I hear so many people that are not happy with the Euro? Well, part of this depends on the fact that we hear only the ones who are unhappy. And the happy ones don't need to restate their case every day. But there has been, I just read yesterday, about an interesting research that's been published by the Bank of France. I don't see anybody from that bank today. But oh, OK, good. That says something quite interesting and subtle. Most people are in support of the Euro. But they're also convinced that the Euro did more for the other countries than it did for its own countries. In other words, the grass of your neighbor is always greener than yours. And we certainly can work on that, again, pursuing our mandate with time. And also, I'm convinced that many of these social phenomena that are being signaled in the various polls we run depend on the unprecedented crisis we are just out now. And as the memory of this crisis will fade away, we hope also these sort of uneasiness will also disappear. Thank you. Thank you very much, Mr. President. Thank you to all of you who have been watching us on the webcast. And more than anything, thank you for your questions. And we will now finish with the Q&A part and move over to the official award ceremony. So while I get to the lectern. So we go upstairs here? Yes, we'll go upstairs. And I'll be introducing everyone. And I apologize already.


There was a study that they took to see what's the average number of passwords that average user has. Is it 215, 57, or is 108? I would say 108. 201. 87. 215. I'm gonna go with 108. 108. That is correct. All right, so good job. All right, thank you for your time.


Mysterious plane spotted over Ukraine. Could it be an F-16? A mysterious black or dark blue plane was seen in the sky over Ukraine. Ukrainian military expert Oleg Zdanov answered the question whether it could be an American F-16 fighter. Dark blue is also one of the colour options for our aircraft. Many of our planes have a double paint job. The upper part of the fuselage is painted in one tone and the lower part can be painted in a different tone or it can have camouflage applied to it. There are different options he noted. According to Zdanov, he does not yet see any signs that the F-16 is already in Ukraine. I wouldn't rush things. It is unlikely that the F-16 is part of the Ukrainian Air Force today. I think that pilot training is ongoing, personnel training is ongoing. We periodically read about this in the Western press. Accordingly, the F-16s will arrive in Ukraine as planned late February, early March. Most likely, we will receive the first aircraft in March, the expert said. He believes that if the F-16s were already in Ukraine, the Russians would blow all the trumpets. For now, they only think with bated breath and with a shudder. Live with the thought that F-16s are about to appear here.


Going on everyone say I'm here with late in sports cards rip in one box of 23 Panini prism football first off the line at foetal For John D. So good luck here John. Let's see something huge out of this man 2023 Panini prism football foetal first off z-line blue shimmer already Silver Devin DuVernay blue shimmer Nick Fulk to 25 for the Titans little kicker mojo Nice one there head and hooker rookie and Joey Porter, Jr. She picked up a dolphin's joy for the auto and I went to the shop I used to work at Connecticut when I was up there. Oh, yeah.  Oh, yeah Sam how four of five on the green shimmer auto nice Congrats on that one But prism water polo box. Sure Jonathan put the put the order in yeah, put the order in Jonathan get to him To five of five John Randall on the green shimmer are not just the green shimmer Nice one there as well legend one enough picked up an auto of his as well Jack him he lived in one of my communities Randall really Really pretty cool guy. Yeah, it's awesome emergent remand Ray Stevenson I'll get 220 Once I'm It's 130 dude Relentless I love Anthony dude. Anthony has a national treasure Silver DJ shark still can't believe I thought that was Anthony at the damn Dallas Goddard Silverado nice one there Congrats John even force like that's got to be Anthony Yeah, yes, so red wave to 149 Evan Hall and clean tune. There's no shot. There's anybody else that yells with song. Yeah, that's why I was like how the hell And he gave us you and he kept moving. I was like, oh Yes, that's Anthony Get him out of here Was the one crop doesn't mean a whole Chega Kwan club somebody's kept flying by 225 Prismatic Aaron Rodgers for the Jets the 225 Jimmy Garoppolo What that damn in O'Connell a C God Can't believe that wasn't working. It was gross dude. I'm just sweaty, dude Rub it up against each other in the oh god For some break Jackson Smith and jigba red shimmer puka nukua. Let's go dude 12 of 35 Let's go. We'll get that into a mag John. That's nasty second big nukua shimmer. We fit. Yeah, yeah Tank Dell and Chris Rodriguez Jake doesn't know how to break or make a left On the right way say Kwan Barkley Red shimmer Calvin Austin to 35 Bryson must have been scared out of his mind. Yeah Can have like a hundred inch screen TV and a huge sound system dude. What are you watching? Let's see God We've got a navy camo coming up here Christian Wilkins silver that is Josh Reynolds It's actually having a really good year 7 to 25 for the Lions Manual Forbes and puka nukua That was crazy You know showing them the stream mm-hmm and his is like a 87. Oh man. That's awesome Lee So you should see it on your phone. I know so tiny to 60 Tony Pollard. That's like terrifying Really That's cool. He's a cool guy. Yeah, he's funny Heather got a Christian Wilkins jersey for Christmas. Oh, yeah. Yeah, it's fire There's two attack of Iloa orange wave is DJ Turner rookie for the bangles the 60 It's a pretty good box actually Tyler Scott's and Brian breezy It's the va Keishan bouti Nice. We'll let us hyper to 175 That's on that one there John Got Keon whites and Brian branch on the rookie as well That'll do a fair break there John. Not too bad.


So I'm here joined with head coach Dominic Dawes so coach impressive win today coming back being down 301 point winning 5-4 in overtime thoughts on your team's performance I thought we played well in the second half when we were up against it Which is a which is a good thing, but we also put ourselves in that Position early the game plan was to play with energy today And I don't think we did until we started to play well in the in the second half So of course swing goes scoring the big goal there at the end of the second period, but heading into the third What did you tell your team? I think I really had I mean we've had a long week long week of practice and Some ups and downs here through through the week. So we really didn't say much I mean it's on them to we're at the point of the year where they need to become a team and They put themselves in that hole and we needed to get themselves out of it And that's what it was the goal at the end of the period was big to just kind of boost morale and boost momentum But you know it's good to kind of have a power play there to start the period But no it's a credit to them. They got it done Carl Lighton scoring the game-winner of course had another one as well. What makes him so special He deserved it today, and I told that to the guys in the locker room He when when I called the timeout midway through the game I didn't say a word Carl actually kind of took over the took over the huddle and the first thing I said to him when I when I got on the ice was that you know He got he got rewarded for stepping up and and being a leader. Oh, it's thank you very much congrats on the win Thank you


First-time subscribers also get a 30-day money-back guarantee. If you're not satisfied, let us know and you'll get a full refund within 30 days of signing up. 727-6648 or internationally at<PHONE_NUMBER>. Now, Larry Pesevento. Okay, looking good, Billy Ray feeling good, Lewis. We're going to put a chart up of the dollar index because we did complete that ABCD up there at 114. That was a 1.618 expansion. At that point, we said be very, very careful up here because it could have a pretty good correction. And as you can see now, we're in the sixth day of the correction. We've come down and we just broke that little trend line that we have right here. They just broke it just a little minute ago, a little while ago. So that means that maybe it's going to have a whole lot more type of a correction. Whether that has anything to do with the stocks or anything else, I don't know. I look at them one at a time. That's all I can do. And all I can say is, folks, I've had some complaints from people saying that 382 doesn't work some of the time. And you're absolutely correct. It doesn't work some of the time, just like anything else. But I still think it has some good, but you know, we'll have to wait and see. Okay, now we're going to go back into history today, folks. Compliments of our good friend, Mr. Tom Thugard, the trader Tom. I want to get this chart up and show you where we are here. This was a chart that I posted here on the 5th of May 2009. That was the Monday bottom. And I said this was going to be the largest rally in the stock market since 1938. And folks, that was the bottom and it's still rallying to this day. Anyway, I want you to see this arrow right here. You see that black arrow right there? Okay, that was a day where we had two days in the Dow Jones where it rallied 7%. Guess how much were up these last two days, folks? I'm going to let you guess that. But what I want you to guess is I want you to see that day right here. And then I want you to go back to the previous guardly that we had back here and do the calculations and see what number that is right there. It's not .40 and it's not .379. It's something else. So if you do that and practice it a little bit, you might get an idea. You had this two-day rally and then it was, I just can't believe how the sentiment has changed in two days watching Bloomberg. You would think that we've even crossed a 200-day moving average. But that's not the case. Okay, now there's a couple of things that have happened that are very, very significant today from my perspective because I look at Fibonacci numbers as you know. I sent this out very early in the morning here to the folks to say to get ready to put your selling shoes on. So we'll get this up here for a second and we'll get up here and put it up here. Here we go. This is a chart going back that at high we made way back here on August the 28th. And today we were looking at this number right here, which was .3802. The high was .3802.5. Sold off a little bit from there whether it works or not. I don't know, but at least it started working in the right direction. By the way, our guest today will be Jim Bartolioni of Bart's Charts. He'll be on today. Tomorrow we've got Norman Winsky of Astro Trends coming out of the ravages of Naples, Florida in the hurricane. And on Thursday we're going to have Jeff Huge of Alpha Insights. And on Friday we're going to have Peter Elides. And on Monday, do not miss Monday's show folks. We got Bill Meridian from Cycles Research will be on for the whole show. So it's going to be a pretty exciting week these next few days as they always are through here. So let's just take a look at a few others that we were watching here today that may or may not work. But we'd like to show them to you because when they work, it's really a lot of fun. Here's the one that we were talking about this yesterday because I'm going to ask the question about when ABCD patterns don't work. This happens to be the silver market that we were looking at yesterday. As you can see here, we have an ABCD pattern. But as you can see here by this really long bar. The things that make ABC patterns fail are two things. Long-ranging bars that keep going up and up and up and also when you have a gap. So when you have a gap like you have back here and a long-ranging bar, highly suspect of any ABCD. So when you see those two things, the long-ranging bar like we've got here, or a gap somewhere, then those are danger signals. Mr. Gartley pointed that out in his book, Profits in the Stock Market from 1937, that you could have gotten for a paltry $1,500, which you could have changed that into three Ford automobiles. And okay, now here's what we wanted to do. We talked this about this yesterday and I wanted to bring this up to you today because we have continuation going on in this. And I think it's worthy of what we're looking at here as far as what these markets might do or may not do. All right, now this is the silver. Okay, now we're looking at the ABCD. Now what do we have here? We've got a really wide-ranging bar, right? But we also have the ABCD. But look how the ranges are going in. And look, it's coming right up here to this 1.618 number, folks. That 618 number comes in at $21.29 and a half. Unfortunately, this one didn't work. It went to $21.31, and then it's backed off $0.16 since that point. But that's where I'm... Two things you can look at here. First of all, you've got the 1.618 expansion, okay? You've got the wide-ranging bar, and that tells you you're going to go higher. How much higher? You're going to do the 1.618 expansion of this whole move. Multiply that times 1.618. That gets you to this number right here, which is $21.29. So I think it's important. And not only that, boys and girls, if you want to really put the metal to the metal, hold on here a second. I've got to show you this one because you probably won't believe this one because I don't believe it either. The trouble is, if I can find a doggone thing, but you know what I'm going to do? I'm going to defy human nature and let you find it yourself.  Go back to the last major high that we had in silver, going back a very long time ago, like seven or eight months ago, and then do the calculation from the high down to the low we had at $16, and to the high that we got here at $21.29. And someone should do the work and see what that is. You'll never get... Johnny's in the back of the real wave in his hand. Yes, Johnny, I know, I know. I see he's holding up a sign. It's not .41. No. It's not .36. No. Oh, Johnny's turned it around. It's .382 on a weekly chart for silver. Pay attention to silver today, folks. They have game and we're moving it around very, very quickly. Got to bear with me, folks. I've been up all night trading these puppies, and so I'm just a little bit tired, but having fun and loving it. So my old good buddy, Don Adams, would say. Okay, let's move up here to take a look at a couple other things that we want to be watching here. And that is the British Pound. The British Pound is smoking and joking, folks. And we're getting up into some really interesting area here. This is one of Mr. Hougards, not Mr. Hougard. Mr. Hougard and Mr. Jameson. Hold on here. They bought it on that low date. Let's take a look at this when we get back.<PHONE_NUMBER>. In the time of booming inflation, we are purchasing powers eroded. There's no better place to protect your hard-earned money than in gold. This, the gold's flagship asset, is the Monk Todd Gold Project in the Northern Territory of Australia. This is Australia's largest undeveloped gold project. We are talking a world-class gold project in a tail-one mining district. This is a large-scale, low-cost project with significant existing infrastructure in a politically safe and friendly mining jurisdiction. This, the gold just completed the Monk Todd Feasibility Study, which resulted in a 7 million-ounce gold reserve in a 16-year mine life. All of this combined with the approvals of all major operational as well as environmental permits. This distinguishes Monk Todd as an attractive, dearest partner, ready-development stage gold project. This, the gold trades on the New York Stock Exchange under the symbol VGZ. Steve Rhodes started his trading career as a student almost 20 years ago, and the student has now become the master. Steve won the prestigious Timer of the Year award in 2018 and barely missed that mark again in 2019, finishing it number two for the year. An amazing accomplishment. Steve Rhodes is committed to sharing his techniques and knowledge with anyone who wants to learn, and he shares his vast amount of trading knowledge every day in his Mastering Probability Newsletter. Steve's award-winning newsletter, Mastering Probability, is delivered every trading day with updates throughout the afternoon. Sign up for Steve's Market Newsletter, Mastering Probability, and you'll receive access to seven of Steve's educational webinars absolutely free. At TFNN, all our newsletters come with a 30-day money-back guarantee, so you have absolutely nothing to worry about. Visit TFNN.com and try Mastering Probability 30 days risk-free today. TFNN Educating Investors. Are you looking for a way to consistently add winning trades to your portfolio? Tom O'Brien is here to help. Tom O'Brien has been successfully trading markets for over 30 years. A frequent contributor to TD Ameritrade Network and CNBC, Tom O'Brien founded TFNN over 20 years ago to help educate investors just like you. Tom's Daily Market Newsletter, Market Insights, is published every morning when the market's open to give you the competitive informational edge you need to succeed. These newsletters are packed full of Tom's advanced technical analysis and are geared to deliver comprehensive strategies for a successful portfolio. Get Tom O'Brien's newsletter, Market Insights, today and try all of our products and newsletters 30 days risk-free with our money-back guarantee at TFNN.com TFNN Educating Investors Free at 1-877-927-6648 internationally at<PHONE_NUMBER> Okay, we're back folks and I posted a chart of the British pound here and as you can see we've had a heck of a rally coming off of that 103 handle we had about seven days ago. You'll see now we're approaching the 61% retracement of the high that we made, you know, way back on the end of the month. So this is going to be very, very interesting to see if this holds it or not. The key points to watch here are the 115 level, which is the 61% retracement of that whole move. Or if you go back to the big high that we made way back up there in that 130 area, the 382 on that one, and we don't use 382 much anymore but we'll keep it in here just for kicks and giggles, just for you mathematicians that want to kick the stones down the road. That number comes in at 118. So this is a major downtrend. The question is we're having one heck of a rally and it really started once we went above that 108 level and we got up to 112 that held it for about 150 pips and then away it went. Someone's asked me the question, when you have trades that don't work, do you ever reverse? Folks, I probably should, but Mark Douglass worked with me here for four years and finally he threw his hands up and he said, hey look, you're comfortable with what you do. It works part of the time. He said, stick with it. He said, but I really believe that if you reverse you'd make a whole lot more money because he sat there and kept records of when I would get stopped out of something and it just went the other way because that just meant that pattern was failing and it was going up to the next pattern. I wish I did do that, but I'm an old dog and it's hard to teach me new tricks so I'm going to keep on barking and that's all I can tell you. Anyway, that's what we're looking at here in the British Pound. I posted the 382 in the NASDAQ. That was hit real early in the morning and it's been going down ever since. The 382 in the S&P and the Dow Jones seem to have held at least for a little while anyway so we'll see if that's going to end up being important or not. Remember, this rally was just the same as the rally we had back in 2009 and whether that's the replication of what's going... that was 2008, the chart was from 2009 so just remind ourselves that what goes up must come down. This is how the sentiment changed overnight. Oh my goodness, I mean it was listening to Kathy Woods on there today. I thought that we were just crossed a 200 day moving average or something. That's what I was wondering about to see if that's going on or not. Okay, we've got a really great chart here. I want to share it with you folks. This is the dollar index and it's sent to us by our good pen Mr. BV down there in Texas. One of our good old cowboys down there. Let's get this chart up here and you'll be able to see it because we are at the proverbial moment of truth right now in the old dollar index because you can see here we are completing a 61% retracement. That makes this a 135 pattern folks. 135, there you are. Now the only thing that's negative is we got all these wide ranging bars at the downside. The good part about it is and Johnny's in the back of the room holding his hand. What's the good part Johnny? Yes, your risk here is very, very low here because buying it here you're going back to these old highs that were here plus you're sitting right at the 61% retracement. If this one held then this one might held. The trend is certainly still up so anything lower than this it's not up anymore. So that's why these patterns work is because when they fail and when they fail they're telling you so something's wrong and you've got to be careful. It's not how much money you make it's how much money you don't lose. I got a really interesting email from someone from Turkey, a young man really likes the patterns and everything and he wants all this information he says what can I do? He's only 19 years old and I said take that book trade what you see and memorize it know it inside and out know every word on every page you've got that, you've got the equivalent of a medical degree and a surgical residency in brain surgery which takes about eight years so once you've got that you're on your way. Patterns don't work all the time but they work some of the time and therein lies the key some of the time and then some of the time runs to the matter of about 60%. Let's take a look here at Gold what's been happening to that today I'll just get this up here this comes from our friend over in Denmark, Mr. TS and we'll be able to see it right up here this shows the beautiful 3A2 there was our first buy in the gold right there, unfortunately there was my cell right here right after this level right here I said well we'll cover the short but I didn't go long and look what happened way it went and bada bing bada boom and I left a whole bunch of money on the table but folks can't complain about the gold folks we were short from 214 1986 oh my god all the way down we were short gold and it got down to a thin $2 of that ABC down here at 1618 that I tried to buy it got to 1621 and missed it but I bought it back on the 3A2 so that's it you can't get all these folks it's just impossible to do all of it the wheat's been working pretty good natural gas just doing absolutely splendid today up about 60 points and that's a very nice move for natural gas so that one is working pretty good also okay now when I wanted to bring to your attention here one more time is we have a question about bitcoin I want to bring this up here to let you folks take a look and I don't have all the lines drawn in but you'll be able to visualize what they might be and you'll be able to take a look at it you can see this move right here this is not very bullish action in the bitcoin folks it looks to me like it wants to make another low and I don't know if that's going to be the case or not but we've got a target down there of about $12,000 we're trading at $20,000 right now so let's keep our mind on this and see what the prize might give us if we get to that point okay we had a question from someone up in Idaho up there the land of ensign software and the question is how do you know when a pattern is going to fail or whether the pattern is going to work well if you subscribe to my new service it's a $35,000 once in a lifetime service I can give you the answer to those questions it comes with two shares of the Brooklyn bridge which will be equal to the course itself folks you don't know what's going to happen that's why this business is so darn much fun you don't know what's going to happen you don't know the green base going to fumble on the one yard line getting ready to go in for a touchdown you don't know that someone's going to drop the ball as they run in for a touchdown and it's negated or something nobody knows what's that you know Mark Douglas had a saying once beware of what's going to happen next because you know one thing for sure you don't know what's happening next the outcome on any trade is unknown it is absolutely unknown the only thing that you can control and that's why these patterns are so good is you can control the risk if the pattern fails it's goodbye see you later that's all there is to it so that's the main thing keep that in mind if you keep that in mind you're always going to be on the green side of the grass and you'll be doing you'll be doing okay so let's let's keep that in mind okay folks well we now broke 20 well we broke 30 handles actually 40 handles in the S&P so that's going to be interesting to see what happens with this one hey let's take a little break here and we have coming up the old wingman himself Jim Park to Leone if you want to take advantage of this sector now is the time to subscribe to my gold report the gold report is a comprehensive look at the metal sector as well as the markets that move gold which is the currency and bond markets new subscribers get a 30 day money back guarantee so you have nothing to lose every Monday morning I publish the gold report with coverage of gold silver bonds the XAU, HUI GDX as well as more the 30 different mining equities to see for yourself the types of profitable trades that are recommended within the gold report sign up now by visiting tfnn.com don't miss out on the next great gold trade sign up today tfnn is excited about our new 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information just click the think or swim banner on the front page of tfnn.com okay we're back folks and I believe we have Bart of Bart charts Jim Bartolioni on the line Jim are you there I'm here Larry good morning good morning listen I got your first chart up of the US dollar index but we've got a call or question and that is were you involved I know you were involved but you were involved in the Iraq battle weren't you in 1991 Desert Storm I was in training so I was not involved in that one directly no okay the second question was were you because you do the planning and all this stuff is it true that navy go in ahead of time and mark the targets with laser beam target finders that all the pilots have to do is lock on to those and they can see them very clearly is that true um sure I'll just leave it at that well I didn't mean to get in the wrong area here no that's okay but so there's multiple ways that we can what's called mark if you will and a lot of times what will happen is there'll be some ground pounders or snake eaters if you will that'll go before and they'll exactly lays what target were supposed to hit and then you're able to see the energy if you will the laser energy what they're trying to to light up if you will right with the laser energy and so in fact that happens a lot um not necessarily on really precision strikes if you will but in close air support troops on the ground close contact danger close if you will you need to be really precise with it they'll lays the target for you good question how does that question I don't know he was from Mississippi so they must know something about that stuff I remember I remember the picture of inside your F-18 that said the little plaque folks there was a red button there it says press this if you want to hit if you want to kill every mother hubbud in sight that's right that was those were rockets is that what that was yeah for everything and the same actually can you hear one going over us right now holy yeah wow you're down in San Diego a couple miles away from Miramar and uh I can it'll be done in a second sorry about that but while we're talking about it was kind of cool but uh we used to have a saying in the cockpit if you got a light put it out right so uh if it's telling you to shoot it's time to shoot don't try to figure it out trade what you see right here you go not what you think hey listen I have a question for you you've got the startup of the dollar index and what are you seeing here Bart yeah you know Larry I mean you taught me this and I just um it's all about the measured move right they're so powerful they're so simple and I think once you spend way too much time on charts like both you and I have it'll come down to that right and so that measured move it looks so simple but it incorporates everything right yeah I mean the dollar index basically went up and did the corrected the largest corrective move um that it's done you know and um just keep just keep in mind where those measured moves are right so that that's what I wanted to show and so now we have a kind of an air quote clue of why the dollar index stopped where it did I do think it's going higher like you do but you know we've got to manage the risk and so it just went right up to that measured move so that's what I was trying to show okay the next one we've got is the gasoline futures this is a long-term picture but this is another beauty and it's certainly started to work already that's right you know so again I'm involved with a lot of different people and we talk about it all the time and I'll be honest with you I remember asking you like how how many people look at the market like this and I think you said something like 2-3% probably that it in that eye right and so about I don't know three weeks ago or so you know I just started saying hey look it looks like gasoline prices might start up again and they're like why and I'm like well it's a garly buy it's so funny to watch these patterns work and then see President Biden's press secretary start talking about gas or all the talking head pundits with the fundamentals of why gas has started back up again and again just keep it simple ABCD on top of a lot of ratios gas up and it started back up and so again it's just I'm still amazed by it Larry and you talking to me the day we stop getting amazed by it is the day that we have it right it's and think about everything going on in the world it stops on time and off it goes again that's the day they close a casket on me when they stop working that's right if they talked about stuff in the press room would be empty every day so nobody cares nobody cares about this kind of stuff except you and I and a handful of other people that actually like to do the work here's one that's also been a really good when we were talking about about a week or so ago because it didn't look like it had any chance of going higher and that's our good friend doctor copper yeah you know it's had a heck of a run here yeah and and again I'm looking at that not necessarily as a one-to-one relationship but copper strong stocks are strong right so when we had this Gartley buy and we were basically going down to a level that we can find would be support on the stocks this rally it makes sense you know what I mean yeah it makes sense and bam I mean copper went a little bit lower and then it exploded so I mean again this rally makes sense now it's okay when's copper gonna top out if it's going to so I just wanted to show there's other there's other assets if you will or other equities other tradable instruments that outside of the normal stock market we can use to help manage risk and kind of correlate so copper was a good one great I mean that's beautiful as they get right Larry and it it's it's healthy for now you know what we first started working together about 20 years ago believe it or not it's hard to believe it's been that long but you know I told you you were a little skeptical I said but you know my best students have been airline pilots and the reason why is because they work with charts that have X and Y coordinates and that's that all you're doing here is looking at X and Y coordinates it's throwing in a little X a X a B X a B C D and there you have it and a few ratios 6 1 8 7 8 6 and there's your game plan there's your landing gear there's all your instruments and you're absolutely right yeah you always got to have that parachute and get that cockpit open in case you have to bail out you know Larry it's funny I still like I just felt some of the anxiety and it's also all about the process and so me and a buddy were finding his name Bobby Roundtree call sign was tree and we went down I think we had a hydraulic leak or something and while we were sitting around the flight deck we're like hey why don't we just save our seats so we saved the ejection seat right and and because we broke our routine we forgot about it and we launched off the carrier we came back we had never armed our ejection seat so if we would have you know head trouble we would have to eject they wouldn't have worked and so that's why you taught me like you just said I think we're good at it because it's basically target area study and you start out on a monthly and you go to a weekly and you go to a day late right so you're funneling yourself into the target area you're doing the same thing with the patterns right start out big work down small there it is you either take it or you don't right and I sent you another chart I don't know if you're gonna be able to show it Larry you're talking about big thing before you went on the break if you look at Ethereum it completed a beautiful Gartley buy on a daily I mean spot on it hadn't budged so to your point about Bitcoin you would expect this is such a beautiful buy on Ethereum that it would have exploded by now it's barely budged right yeah I know it's just not moving that's for sure hey thanks for joining us Bart we'll have you on any time Larry any time love you buddy keep those cards and letters coming in you got it you can only folks Bart's charts go look him up on YouTube see you later folks take a break we'll be right back you might think that if you want to be successful at trading in the stock market you're going to need a crystal ball after all it's impossible to predict the future right like any endeavor in life before you decide it's impossible get some advice from the experts you might find that it's not so impossible after all for daily market overviews that give you direction on the key indices selective stocks and commodities subscribe to the opening call newsletter at tfnn.com the opening call newsletter is written by Basil Chapman creator of the trading methodology known as the Chapman wave the Chapman wave up down sequence gives you an edge in identifying price turns finding the peaks and valleys in stock prices get the opening call newsletter by Basil Chapman and your inbox 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offer try it risk free today with our 30 day money back guarantee tfnn educating investors biotech is booming but for how long whether you think the biotech bull has room to run or has run its course trade LABU or LABD directions daily S&P biotech three times bull and bear ETFs visit directioninvestments.com biotech today an investor should consider the investment objectives risks charges and expenses of the direction shares carefully before investing the prospectus and summary prospectus contain this and other information about direction shares to obtain a prospectus or summary prospectus please contact direction shares at<PHONE_NUMBER> 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 four-side fund services LLC this program is brought to you by Vista Gold traded on the NYSE American and TSX under the symbol VGZ okay folks I also wanted to post one of the charts that Bart sent along to me because he did looks at stocks also and it's really interesting because if you want to see the harmony in a major stock you got to take a look at this chart of IBM I mean it's just it's incredible all the harmonies there it's just really really shows the beauty of these charts and patterns that we have that go along you know with the numbers that we deal with so keep that in mind it's very very interesting okay now we'll go on to a couple other things that we need to cover we have talked about some of these numbers that have occurred today there's a whole bunch of them that they could fail very very easily and this market could continue to go higher by a long shot but it's doing exactly what it was doing in 2009 on the way down it had a 7% rally in two days which is what we've had and boy anybody that believes doesn't believe that was a powerful rally you have to open your eyes because it was really big you know that's it okay he wants to someone wants to see the chart oh he doesn't get to see it anybody that would like to have any of these charts today if you'll just email me at Larry at tradingtutor.com I'll make a special file and I'll ship them out to you so that you can take a look at them just put your Discover or Cart Blanc card in with it and I'll make the charges I don't even know if those credit cards work it's free so if you do want it it's Larry at tradingtutor.com and I will I'll send it out to you regarding the natural gas folks yesterday when we were looking at that you know we had several numbers that were down there and they held just right on the money three days in a row and now we're having the first part of this really good rally here we're up about 60 handles from the bottom and so you certainly want to you know lock in some profit on that and place to really you know really look at it folks don't ask for the charts if you're not going to look at them because if you want them just for fun or you just want to you know something to do but if you want to study them you know let me know and I will I'll send them out to you so that you'll be able to take a look at them and see some of the things that we're looking at some of them will work some of them we won't but we've got a major thunderstorm here by the way that plane that was going over that was an F-18 down there in San Diego I asked Bart I said have one of your boys buzz the house so that they can hear the plane go over and if you believe that I still have two shares of the Brooklyn bridge available for sale I'm going to keep these I have too much fun with these two shares so I don't think I'm going to be able to give them away like I'd hope to someone asked me to talk just a little bit about the apple that we had mentioned last Friday I'm going to take this up here to take a look at it because it's the most you know active of any of the stocks more people on that than anything else there was your ABCD down there at 30 the number came in at 39 the lowest 37 and change we got up to 146 today that's been a 6% rally in just a couple of days and so that did complete that pattern and it should Apple ever go below 39 now it's going to be negatively negative but I don't perceive that happening in the near future it's a question of whether we're going to see the market have some kind of correction here and then we'll know whether it's going to be a significant correction or the 382 that we had hit it now we had 40 handle profit in that so usually what you do is when you have something like this that you sold and it works pretty good you can take part of it off and then put your stop at 20 points so that you lock in another 20 points so that you don't let this thing go back to 38 to 02 again you don't want that to happen because if it does it could easily go busting through there and if it does it means it could go a whole lot higher so keep in mind that's what we're paying close attention to here today now I wanted to get the euro up here and chat just a little bit about this because the euro is having one heck of a rally and it's up in an area just like we're looking at here you're going to be able to see it hold on just a second right now I've got to get the number right hold on because it's just right at just right above the 61% retracement as we speak right now and that's similar to that dollar index that's why we're at such I can't show the three so there's what I wanted hold on just a minute here this shows all the 382s all the way down and believe me we were that in the pound for quite a while you can see now we've had a really good rally this rally is as good as we've had in a long time and it's six days up and it's just a tad above the 61% retracement just like that dollar index that Bart posted and also that Billy down in Texas posted that it's right at that moment of truth as long as it doesn't get below that low by more than just a few pips it's still got a chance to be bullish the trend is overall as you can see and if it can that's in a dollar index and then you can move on to the next one and you'll be able to see whether it's going to work or not in if it fails it's no big deal get on another bus take your handful of quarters and you will definitely find your princess if you keep riding that bus long enough that's it I remember when I was just a I think I was 16 or 17 well I just had a car I went up to see my grandma and I was really depressed because my girlfriend had found somebody else if you could believe that I still don't believe it to this day and my grandma said always carry two dimes with you and I said why is that she said if there's not a bus a girl on the first bus get on the second bus you'll spend your 20 cents and you'll you'll you will find a girl and you know what grandma was right it took me 29 more years to find it but by golly I didn't run out of dimes and that's the whole thing alright let's take a quick look here now at the natural gas what's trading right now I like to talk about some of these that when they work pretty good makes you feel pretty good and this one certainly should make the folks feel pretty good here we'll get this natural gas up here and show you you know I already showed the pattern on it before the big garly pattern and now you can see we've had this huge run up here today in the natural gas and we're up at the 78 percent level but we made it in one day folks that means that you certainly want to hang on to that that that's a main thing to pay very very close attention to remember folks tomorrow we're going to have norm winsky from astro trends we have to be super kind to him folks because he was really battered by the storm he didn't have much damage he had some broken trees and stuff like that but they were shook up because it was a very very heavy storm you know he's got a situation where he's got hurricane shutters so he can stay there and be relatively safe which he was which we're glad and he'll be our guest Wednesday Thursday Jeff Hughes Friday peter elides a stock market cycle so that's our remainder gas next week of course Monday will be bill meridian of cycles research out of bianna austria bill will be at his home in new york and so we'll have a great great session with him and some of his superb cycle work and that'll always be a lot of fun I think we have a break coming up here in just a second because of the fact that I believe the old clock on the wall says that I have 51 seconds left which is quite a bit if anybody has any questions it's 877 92766 48 and I'll be happy to answer them if I can and I think I'm just going to be waiting here until the music starts which will be in 5, 4, 3, 2, 1 and that should be it Vista Gold owns and operates the largest undeveloped gold project in australia the mount tod gold project Vista Gold just completed their feasibility study resulting in a 7 million ounce gold reserve Vista Gold has all major permits approved and has retained CIBC capital market assistance in evaluating alternatives and in completing an accreted transaction Vista Gold trades on the NYSE American and TSX under the ticker symbol VGZ Vista Gold executing a strategy to create shareholder value you might think that if you want to be successful at trading in the stock market you're going to need a crystal ball after all it's impossible to predict the future right like any endeavor in life before you decide it's impossible get some advice from the experts you might find that it's not so impossible after all market overviews that give you direction on the key indices selective stocks and commodities subscribe to the opening call newsletter at tfnn.com the opening call newsletter is written by Basil Chapman creator of the trading methodology known as the Chapman Wave the Chapman Wave up down sequence gives you an edge in identifying price turns 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any time first-time subscribers also get a 30-day money back guarantee if you're not satisfied let us know and you'll get a full refund within 30 days of signing up subscribe to the Fibonacci 24-7 newsletter today tfnn.com educating investors tiger stand available to all tigers and tigers is for just $1 for the year there's no cash or added costs when you join our community of traders sign up today and become a part of this educational community of traders just visit the front page of tfnn.com Alright, folks, we're back and I want to bring to your attention the charts of silver, which is very, very important up here at that 21-29 level because it's an APCD 1.6183-82, everything coming together. Should we close above 21-40, well, 21-30, 1-32, you know, just making a new high after coming off 30 cents, that would tell us that this market wants to go a whole lot higher. Heaven forbid what would cause it, but by golly it might. Gold has rallied up and has not even come close to a 3-8-2 retracement. I mean, it's like $40 away from a major 3-8-2 retracement, even though we moved $130 off the bottom. That's a huge move, and it's due for correction. And whether it comes or not is anybody's guess, but right now it certainly isn't. So we just have to be patient to see what the trading gods are going to give us next time. Now, the wheat that we've been watching has been working very, very well. I'll bring this up here because we've been bearish wheat over the last few days. You'll be able to see the pattern here has been because you've had lower highs and everything, including the markets rallying like crazy. The wheat has it. You can see here, we had the ABCD up here today and then boomed down. She came and it's had a pretty good move to the downside. We had a little bit of a rally here. This rally came right back to the 61% retracement right here today. Where is the little... There it is. Right there was your 61% retracement, and now we started to move on to the downside. So that's what we're paying attention to, but you can see the nice little ABCD pattern that we had in the wheat today came in, guess where? Right at the old 61% retracement of the high we made right back here. That makes that a Gartley pattern spot on. So let's watch those. They're very, very important as we go through. So live every day in an attitude of gratitude and may God bless. I'll see you on the flip side tomorrow with our guest, none other than Mr. Norm Winsky.