Trading Retest of Bullish Reversal Patterns | Technically Speaking: Breakouts & Reversals
good morning everyone or good afternoon wherever you may be john mcnichol here and you have reached technically speaking break and reversal patterns day before thanksgiving what we're going to do is we're going to take a look at some re-tests of some bullish reversal patterns we'll go ahead and we'll do some practice trades and also talk a little bit about some of the trade management so stick around [Music] okay it's fantastic to see those of you that are live with us today such as wayne v j ganesh krishna tori we have el diego jack and everyone else fruity howard barbara armstrong is helping us out on the chat any questions i am unable to get to she'll be more than happy to help you can follow us on twitter now you can see mine at j mcnichol underscore tda and barbara is available with her first initial last name at b armstrong underscore tda it's a great way to learn more about your instructors both personally as well as learning along the way let's go ahead and take care of disclosures folks and we'll get right into our discussion here today the contents intended for educational information purposes only non-investment advice or recommendation of any security strategy or account type options not suitable for all investors spread straddles other multi-leg options strategies often involve greater more complex risk than single leg option trades commissions are also important factors should be considered when evaluating any trade and with long as well as short options keep in mind there are risks associated with that a long option position whether call or put the entire cost of that position can be at risk likewise on short options assignment can occur at any time regardless of the in the money amount and there's some notes for you as far as on commissions and while this webcast may discuss technical analysis other approaches include fundamental analysis may assert very different views and a stop-loss order will not guarantee an execution at or near an activation price once activated they compete with other income and market orders now you're encouraged to practice what you learn here today with the paper money software keep in mind that application is for educational purposes only and successful virtual trading during one time period does not guarantee successful investment of actual funds during later time periods market conditions change continuously if you are new to this webcast welcome uh this class focuses more on breakouts and reversals uh kind of a common technical uh pattern analysis and uh potentially trading off of those patterns uh if you are new to the webcast uh go ahead and say uh you're new in the chat we'd love to recognize you and welcome you uh amongst uh all of our returning and guests and veterans out there uh you can see some of my likes out there and quite a bit of experience here with td ameritrade education and let's bring up our agenda now we're going to review current market conditions obviously there's been a little bit of volatility recently back and forth we'll see where we stand right now we'll identify reversal patterns retesting breakouts as many of know we did have a pretty strong move up in the market as well as many stocks over the previous month we have seen some pullbacks uh as well and some of those pullbacks may be retesting some of those previous breakouts yet still possibly uh continuing or potentially to continue uh a bullish reversal we'll demonstrate on placing a stock as well as an option spread trade which is a common technique we've applied in this class and i'll review some of those trade management techniques as we go through that let's go ahead and bring up the thinkorswim platform and go ahead and start off with the broad market indices as we're looking at the s p and we talked about this yesterday in the uh swing trading class uh still good overall intermediate trend representing 55-day move in average exponential moving average i have below certainly there could be some downside risk on on any sell-off as we are a bit of ways from that average um however prices are still closer to those all-time highs and notice kind of the characteristics of that horizontal resistance with a rising support those prices trying to stay above in this case a 13 period moving average and that's the characteristics of an ascending triangle an example of a continuation pattern discussed in technical analysis in our technical analysis course if the price was to break through that resistance which it did do intraday but faded below but closing and continuing operative word continuum that would be an example of a continuation pattern whereas if the price action was to break down that would be a sign of a reversal pattern in this case a bearish reversal now some traders may look for some of these previous lows to be taken out as more of a sign you know in that example that would be a little more of a double top uh if that was to occur uh and certainly a trend break uh can be a beginning of that potential reversal now if we go a little bit closer you know we can look at the entry day and see what some of the activity has been uh over the last what i'm do is i'm just going to go change that time frame from d to an hourly chart and we can see price action on the s p 500 on an hourly basis i want to point out that you know the very same patterns uh that are common uh in the technical analysis course as we've discussed and if you've joined us in previous weeks you know i kind of keep it simple even though there are dozens of different price patterns they typically form in two kind of classes you know whether rectangular patterns or possibly triangles these patterns can appear at any time frame and so we've identified that potential ascending triangle on a daily chart but as we go ahead and take a look at an hourly chart we can see kind of the back and forth action now in the light shaded area this is the regular trading hours the dark shaded area is the overnight now since we are looking at the cash index you're typically not going to see that that activity overnight as we would on individual stocks or on futures but notice here as we go into thanksgiving which the markets will be closed tomorrow notice we're kind of seeing a bit of a squeeze here uh as far as the price action uh the resistance is declining a little bit some people may look at this as more horizontal we can see the support rising kind of forming that triangle so be interesting to see before the market closes at the end of the day will we see kind of the break to the upside with the bulls in control as we go into thanksgiving or will we see a fade and possibly prices breaking down uh below some of the lows on the day okay so we are currently just off of some of the intraday highs for the day we can see some of those highs from the previous day traders may be looking for a break again one way or the other all right so kind of a view there on the s p uh looking at uh some of the other indices let's just switch over to the uh small caps looking at the russell uh we talked about in kind of the title of yesterday's class was you know question mark turnaround tuesday i haven't quite seen the turnaround but we haven't necessarily seen those prices break down and notice the russell kind of little similar declining high but the low just kind of holding there some traders may call this a tweezer bottom that would be based if this bar looks like this at the end of the day and looking for follow through kind of that ca hold close above the high the low day whether santa claus starts coming to town the day after thanksgiving or not okay notice the russell trying to hold in this case a 55 day moving average and notice when you go back previous resistance potentially acting as new support this is kind of the theme that we're going to take a look at a couple of our examples today where a bullish reversal may be retested let's go back a little bit looking at the russell here and the example of that reversal was more of a triangle pattern notice the price action had been more down the sideways we saw a break of that pattern now some traders may also look at the price levels we go back and look at the previous high for the russell in september notice that previous high resistance and now potentially acting as support okay so giving back some of those gains trying to get the right color there a little bit of a lag there my apologies there we go all right so that's what we're seeing in contrast between uh the s p as well as the russell you know we kind of look in between on the nasdaq very similar to the s p uh you know still not too far off of those highs but we've seen kind of bounces off of that upper channel that i've highlighted in the past and also tweeted about a great reason to follow on twitter but you are still seeing uh potentially higher lows here now the nasdaq actually did go a little bit lower intraday but kind of snap back with the vengeance if we go ahead and we take a look uh let's see here on bear with me for a moment let's look at an hourly chart i'm just going to double check make sure i'm not missing anything there i can say barbara is certainly a multi-tasker there way to go barbara and uh if we look at the nasdaq on an hourly here let's just see if it's showing a similar pattern to what we saw with uh the s p now this one's a little more dicier uh from a bullish versus a bearish perspective you know on the s p we we kind of saw more of a regular triangle which is kind of more neutral as far as that bias as far as breaking either way as we look at the nasdaq notice we can see these kind of sell-offs these long candles on the hourly basis but we haven't seen kind of an equivalent bounce to the upside we've seen you know some little swings here going to the close we saw the gap down and we're kind of swinging back up again uh the characteristics of this is a little more of a uh some traders may call this more of a rising wedge uh which could have a tendency of being a little more bearish now doesn't necessarily line up on the inter on the intra period there and some traders may look at this as far as an expansion if they look at the other way here you know kind of an expansion is pointing towards more volatility and therefore a little question mark as far as that direction i notice there's a bit of confluence there too with the 55 period moving average now this is on an hourly chart but you can kind of see where that kind of tipping point may be between bulls and bears okay finally let's take a look at the vix vix we talked about this yesterday as the vix was kind of pushing around 21. uh the vix didn't go significantly higher today on the drop but we could see that uh how the vix did fade kind of contrarian to the broader market okay so again as far as you know direction you know vixx is kind of confirming a little more support on the market now remember this is inverse uh compared to the market and we'll see uh what we get going into the rest of the day all right so let's go ahead and double check so we reviewed current market conditions as we're looking at the chat do appreciate everyone's feedback there now we also identified you know kind of that reversal pattern retesting a breakout we saw that an example of the russell let's go ahead and look at some individual stock examples and a couple of these now some of these are stocks that you may be familiar with others possibly not so much but a lot of these uh that i do bring up uh are typically coming up on lists such as the weeklies uh is a public watch list that you have widely traded stocks that are optional and may have a wider selection of strikes as well as expirations uh also uh you know just looking at some of the broad indices like the s p 500 and there's even another list called uh penny increment uh options as well if you're looking for more widely traded stocks that are optional they may point towards some of that liquidity all right and uh let's go ahead and take a look uh first one we'll take a look at is wdc for western digital and as we look at western digital you can see the characteristics of uh fall in price here lower highs and lower lows but notice kind of a transition into those higher lows and we can see the characteristics of an inverse head and shoulders very common pattern for bullish reversals notice that the trend downtrend had broken which could be the first sign of that reversal and then we've also saw more of a higher high versus lower highs now in this example uh if we were looking at 59 as being a neckline we saw a break of that neckline but notice that prices did kind of blow back into that pattern this can be common for breakouts whether it's a retest or a blowback of that breakout and a common thing to keep in mind is looking at those shoulders and seeing if those shoulders hold in this case on western digital it did we got a bit of a bounce price has actually gapped above that neckline and this was on a i believe an upgrade you can go ahead and look at the live news over here on the right it's not a recommendation to buy or sell any security but uh there's some upgrades on i think micron also had an upgrade western digital i believe had an upgrade a few days ago and you can go ahead and take a look at some of those okay and then as we look at today's price action maybe a little more indecision but notice that that support uh is actually holding okay now whether some traders may look for an entry just based off of it holding or look for more of a cold as prices close above the high the low day those can all be some examples there kind of in the same space and uh this is a umc one uh not necessarily as a brand name as a you know western digital or micron but notice the characteristics of this one now make note this is a adr american depository receipt if you go to the analyze tab you can usually see that in the description also looking at the country uh maybe a giveaway that it is a foreign stock trading on u.s markets and as with any stock um you know doing due diligence you know particularly foreign companies may be subjected to economic risks uh currency risks things like that but as we take a look at this one this actually popped up on some options activity and then kind of tied into our discussion here today uh same gadget over here we have live news if i click and switch gadget there's another gadget that is called uh trade flash if i go ahead and click on trade flash this will show like big block trades uh could be institutional trades or or larger players some traders may look to see you know different volumes uh or you know increase in volume and different options activity and uh umc kind of popped up on that radar there which is going to be a discussion on another topic i'm going to be doing on one of our affiliates so a lot of puts were being sold on that uh at a strike price of ten dollars and if we go ahead and take a look at the chart now one can't read into why someone does something but the idea on this example of one was to sell a put at the ten dollar strike the idea is that they're willing to own the stock at ten dollars which happens to be at support and they're generating some income on stock that they're potentially looking to own um and that would be a neutral to a bullish posture uh if we look at the current price action again notice that we're holding that previous resisting act and s support so let's go ahead and do an example of the stock trade this is a relatively less expensive stock but keep in mind they can be very volatile there i'm going to go ahead and right click on the chart and we'll do a uh a buy custom uh with stop now one may position size or allocate and uh you know allocate the amount of money that they're willing to risk in the trade uh we'll do an example of a stop if the price was to break down uh to a certain level so i'm going to go ahead and do a a buy custom with stop and as far as determining a uh a potential stop you know there's various ways of doing that uh whether like a default measurement of a percentage below uh that support let's say in our example we'll do three percent has been a a common example but with stocks that are less expensive uh maybe more volatile you know three percent may be reasonably small an indicator that we've utilized to help understand kind of the expected move of a stock or should say shouldn't say expected move but some of the previous moves of the stock is utilizing atr average true range i'm going to go ahead and go to the beaker here we'll click on that and go ahead and look for atr which is actually right at the top of the list there you can start typing it as well if it's uh down the list there of course you need to spell it right how do you spell atr i believe it's atr there you go all right if i go ahead and click on the little question mark for that you can see kind of how it's calculated uh but ultimately what it's doing it's calculating its price range uh over a time period default periods about 14 periods which is about two weeks or about half a month if i go ahead and double-click to add that let me go and remove some of these other indicators here so we get a view there's the atr right there and it's currently showing 31 cents 31 cents is considered to be kind of on average how much is price may move on a day-to-day basis now a trend trader if we're and we're going to do this as an example of a trend uh is looking at you know kind of more weeks to months we may take a multiple of this and kind of maybe a starting point as far as a multiple of this is doing two times that atr if i do two times that atr that's going to be uh 62 i'll just round it to 63 cents and if we were to go ahead and set a stop that's 63 cents below the current price or we can set it below that uh support there so if i was to do 63 cents below that support that would be 11 16 minus 63.
let's go ahead and change that here we'll do 11 16 minus 0.63 that would be 10.53 so if i go ahead and mark that on the chart ten dollars and about 53 cents it'll give us an idea of where we can put a stop now keep in mind stops are not going to be guaranteed to fill out a particular price once it hits that price it'll be a market order and it'll compete against with other income and market orders but notice we're giving it kind of a bit of a wide berth there uh to uh incorporate some of that volatility uh whereas if we did a three percent stop below that level uh 11.16
times point nine seven that would be a level three percent below let's try that again eleven uh point sixteen times .97 that'd be a level of 1082. now 1082 would be right about here now that still gives us a little bit of room there okay but one has choice as far as where you set stops you know what are the pros and cons well a wider stop uh a wider stop would you know account for more fluctuation however since there would be a greater risk per share theoretically it would require us to buy less shares if we're position sizing to that stop okay so we're at least trying to give it some room and we'll work off of that so if i go ahead and right click on on the chart again do a buy custom with stop we can go ahead and type in that price level i think again i said it was 10.59 we'll hit enter on next to the stop we'll change that to gtc for good till cancel and as we go ahead and we take a look at position size and we have 100 shares if i go to confirm and send notice uh we're locking up uh cost of trades about eleven hundred and twenty nine dollars now some of the considerations on a trend trade is you know how much of the account would you want to allocate it into a trade so i mean let's say this was a a fifty thousand dollar account okay as an example and i'd be willing to allocate up to five percent of this account into one trade theoretically we can probably do about uh 200 shares okay now we can round it to specific numbers uh if we want okay uh in this case if i did 200 shares and we'll go ahead and we'll adjust that hit confirm and send yeah that'd be tying about 2200 okay now another consideration is since this is a reversal pattern some traders may look to scale into that so kind of a trade management technique is uh you know let's say and i obviously do have an example of a larger account here so have more flexibility on you know how many shares to allocate but some investors may start small uh you know build on a position let's say eventually wanted to you know go up to uh you know 200 shares or 500 shares you know you can scale into that you know whether do a hundred or like 150 and then if the price goes ahead continues trending up maybe has a dip you know one can go ahead and you know build on that position uh this is will be called kind of pyramid in a way where one can accumulate uh shares you know up to uh their maximum allocation in this case here you know this would be putting us at about 375 and if the train continues to develop one can continue building on that position okay just a simple money management technique uh i'll go ahead and i'll do uh and i'll do this based off a larger account i'll do 200 and we'll do a confirm and send i may have to go ahead and adjust the price here let's go ahead and change that to where we're currently at now keep in mind when you do change the price up here and you already plugged in the stop that may change the price so make sure you double check that and we'll do a confirm and send and we'll send okay so we went ahead and got a fill on that uh looking at some of your questions and comments there uh jack eddie uh someone mentioned looks like eddie you mentioned about some of the fundamentals there uh you know we don't talk as much on the fundamentals here but that can be one of the filters for some of these reversal patterns a lot of cases these could be examples of value stocks since they've been beaten down before or they could be growth stocks have been beaten down and maybe at more of a reasonable price if you apply that you can go ahead and apply some of that fundamental analysis by whether going on the thinkorswim platform or on the td ameritrade website uh as an example we can go ahead and type in umc and you can see a background there you know one can go to the analyst reports look at some third party reports again not a recommendation or endorsement of any particular analyst or party there uh not as much of a coverage here but one can go ahead and you know look at fundamental tools such as on the fundamentals look at the balance sheet cash flow things like that uh you know we can see double digit earnings um looks like there's some dividends that may be available you know you can kind of see as far as with some of the fundamental numbers going in a positive direction okay all right so we got one example down now let's go and see what else we got here folks uh let's bring up um i was also looking at expedia expe if we bring this one back a little bit now this would be kind of more of a larger reversal we can see how the price action kind of came down a bit and we had prices getting back in fact it's probably a little more on continuation but still supporting previous resistance acting as new support you know kind of traded down to the 55 positive on earnings and that gap so far is holding and uh notice that we did have a cohold yesterday uh price closing above the high the low day kind of a little more of a diagonal breakout now we actually talked about this yesterday on the swing trading class and uh you're welcome to go ahead and join us on that i'll what i'll do is i'll actually post a a link uh to that one uh actually actually i know what figures going all over the place let's get my bearing straight it's going to be right here that is my final answer there'll be a link here uh for that swing trading class for yesterday uh so uh at least i got my calisthenics in for the day where we talked about those diagonal breakouts for instance suncor was one diagonal breakout practice trade and it's in full swing today and i'm trying to think uh on the downswing uh it was a coupe get a little more lift with the market there but you can kind of see you know more of it breaking down on the downside there okay uh let's go back and take a look at some of the other ones here so we had expedia now for this example uh we're going to go ahead and do the uh an example of a spread uh we can see that the price action you know it's 177 dollar stock you know if one was trading a smaller account uh yeah i mean 100 shares as an example would be 17 000 even if it's 50 shares that would be about what eight eight to nine thousand uh if we wanted to just attempt to profit if the price trades higher over the near term maybe trade up in this range possibly retest some of those highs we can do a long option but when is probably the worst time of year to buy an option when it comes to time um not necessarily a trick question here uh but when we think about the passage of time uh what are we dealing with here well we got tomorrow's thursday thanksgiving markets closed we have friday but i believe markets i think may close early on friday i will have to confirm that okay and then we have an entire weekend so there's plenty of time decay there we can possibly do a trade where we can possibly benefit from some of that time decay instead of it necessarily hurting us and and that's where some spread trades depend on how they're constructed uh can potentially benefit from that time decay and likewise if we have a positive move in this case to the upside we can utilize that too now i talk about this strategy on thursday but since we won't be here tomorrow to talk about long verticals and diagonals we'll do an example of one and so i'm going to go ahead and go to the trade tab on expedia we'll go out a little bit in time now typically we may be going around 30 to 50 days and really this is a matter of duration if we're looking at this more shorter term or if we want to go further up a little bit there okay and uh so here's 23 days here's 58 days now if i'm just looking at this over the near term let's look at the 23 days and see what we're able to construct now i'm going to go ahead and take a look uh on the calls and then we're going to look at uh a strike that's a little more in the money and this will kind of potentially simulate a long stock position uh being a little more deeper into money notice 950 is going to be the ask price if i click on buy on that and hit confirm and send you'll see that our risk is what we pay for that option that debit 950 dollars now that's a lot less than uh buying the underlying stock and since we're just looking to profit over the near term uh not necessarily looking for the benefits of stock ownership uh now if i go ahead and actually take a look at this on what we call our analyze tab and go to risk profile uh let me go ahead and uncheck actually i need to go ahead and actually bring up that trade again we'll right click on that and select analyze there's that long option and you can see kind of the detriment here which is that time decay and that's 13 every day today tomorrow friday saturday sunday seven days a week now i can go ahead and possibly offset that by constructing a vertical which is what we would do here is basically buy that same option but we're going to sell another option at a higher strike where we believe the price may be trading at or above that's going to reduce the cost of the trade and we can also potentially be over in this case however slight more positive on the time decay all right and barb thanks for sharing as far as the abbreviated uh trading tomorrow or on friday 1 pm friday soon that's eastern time so i'm going to come here and go ahead and take uh that 182 and a half and we'll hold the ctrl key and i'm going to hit sell what that allows me do by holding the ctrl key it's going to match up with the other option that we bought so here's a 4.95
debit uh looks like price has gone up as we speak would have liked to have done this earlier but uh you know uh would like to demonstrate these obviously in class and you can see here uh this would be about 100 return um on risk which is not bad for a spread trade or a in a debit spread that's going a little uh more out of the money the interesting thing with this trade here is our break even 177.50 which is pretty much at the current price so we're not paying for a bunch of time premium as a whole at the moment we're actually kind of net positive and our breakeven is close to the current price and certainly the lower uh the break even the overall better for the trade and potentially on the probability of success and that's kind of a direct correlation as far as returns uh versus risks there so we're basically targeting that 180 250 level there if i go and look at the chart you know 182 is basically just kind of in the middle of the range here now if i want to be more directional we can probably go with a higher strike but more than likely probably would also want to get a longer duration and kind of go out to those 50 days here so i'm just going to leave this as a you know a simple bounce here go to confirm and send let's say i want to risk a thousand dollars i can do this two times do confirm and send and let's go ahead and send okay we got a practice fill there now you know it's very important and this is why it's important to follow along with us in these webcasts on an ongoing basis so we also manage some of these existing positions trade management and profit management very important there on some of the trade management techniques showed you how to scale in to a trade with our example on umc in the case of profit management on for instance a spread you know one should have an idea of what their profit target may be and in the case of the one on expedia if i go ahead and view those trades you remember that this was a five dollar debit uh which means the most that could be made is the difference between that and the spread and we had figured that would have been about uh five dollars okay so five dollars times the multiplier of a hundred each spread or contract is a hundred that would be five hundred dollars okay uh also since we did two contracts that would be times two so a potential maximum gain would be a thousand dollars now one idea here is taking that maximum gain and looking to capture a certain percentage of that some traders may target thirty percent maybe upwards of fifty percent we've used fifty percent as a baseline although if there's a quick spike or surge we may lock it in pretty quickly and so for example uh here is uh steel dynamics which is a spread that we've done in this class i believe last month actually beginning of this month uh it's the same characteristic as expedia where we basically had bought a 60 strike and sold as 65. currently we're trading at that upper strike so if we stay above 65 this will have a maximum gain at expiration and we're still 23 days left so there's still some time here if i go and look at the chart stld notice the price hasn't moved dramatically much although we probably would like to see it break out of this rectangle which is another continuation and you know some of you if you're looking to be bullish notice that again reversal pattern we've been talking about re-test of that reversal pattern uh that's how we initiated that spread back here and the price has actually gone back and forth ultimately if we're able to get an a pop out of that resistance that's where the payoff sooner would be on the trade uh as uh uh that spread would become more in the money so we're kind of backing off of that a little bit today but we still have some time uh however if one want to be more directional with this trade you see that resistance you can right click on the chart and create an alert and alert yourself to a potential breakout and take some action in our case since i already have the spread that may be a profit management tool as well and at or above that level we'll hit create the other management to keep in mind is if the price falls in between these strikes in the case of a long spread it will result in a automatic exercise of that option if you hold it into expiration now we look to close out this trade before expiration if we don't hit our target probably in that last week however keep in mind you know as far as liquidity uh it could be harder to close options at a desired price on a secondary market but we keep an eye open for that liquidity there so action would need to be taken if we do fall in between so some have to keep a closer eye on this as we get closer to expiration in this case on the expedia a desired outcome as if we're trading above 180 250. notice we are in between that right now so if we stay in between that you know we do have to manage the position to go ahead and close that out and we'll continue following along with that all right well looks like we're coming up uh on some time here i i do have uh let's look at patterns for two more and you're welcome to go ahead and practice what you learn here today uh utilizing paper money on the thinkorswim platform to get your feet wet on whether doing a stock trade or an option spread trade other ones was looking at was a deer you can see the characteristics of that inverse head and shoulders price breaking out this was a little more of a blow back into the pattern and we got a hold today on both earnings uh i don't know if there was an upgrade but uh on some earnings there uh and notice that we kind of broke above that high range there now notice more of an expensive stock so this could be an example of a spread example that we had discussed or if one was bullish on the stock they can do smaller position sizing uh the other one let's see here we already got through uh deer expedia we looked at western digital which we did not do a a sample trade on we did that on umc instead but you can take a view on that and then kind of on the energy front um this is kind of a follow through you know we did suncor yesterday but one oak uh one okay um believe it's a midstream uh stock uh broke a diagonal there's a little follow through on that and then it was looking at materials like ccj you'll notice we saw some examples of rectangles triangles uh more of a rectangle but looking to see if there would be a diagonal break here and this is more on the uranium stocks but notice not quite a break at the moment all right okay folks well hopefully we accomplished everything that we said we were going to go ahead and do today um if you enjoyed what you learned here today uh click like that gives others the opportunity to learn what you've learned today you can always go back and look at the archive session as well also at the bottom here i think i got it right the first time you'll see a subscribe link that's part of trader talks if you want to be informed on great sessions like this click on subscribe and also turn on notifications you can be alerted to some of these uh sessions and with the holidays here uh obviously spend some time with family wish you to have a wonderful thanksgiving and maybe squeeze out some time for some education look at some of the archive webcasts maybe go ahead and take a look at some of the coursework and uh we'll see you live and in charge i will be with you first thing monday morning for our trading futures webcast so on behalf of barbara do wish you have a wonderful thanksgiving and holiday season be safe when you travel and remember in order to demonstrate the function out of the platform we did have to use actual symbols keep in mind td ameritrade does not make recommendations or determine suitability of any security or strategy for individual traders any investment decision you make in your self-directed account is going to be solely your responsibility so appreciate it as always folks have a wonderful day and we'll talk to you again real soon bye now