here's the mail from the 28th...check the charts folks..
----- Original Message -----
From: Jerry Olson
To: Undisclosed-Recipient:@chmls12.mediaone.net;
Sent: Tuesday, November 28, 2000 7:59 AM
Subject: Markets & Biz
Good Morning...
i need to cover several things that are hanging out there about this real time room first....i do have a lot to say about what i am seeing in the charts....
1. i wanted to thank everyone that signed up for the room..now that Teresa is home, she will be participating in the room with us all...each day...and the newsletter will resume on Dec 3rd...all of you will receive it as a bonus as agreed...
2. i agreed to take care of any master class people for 1 week....today is the last day for that...if you are thinking about trading stocks with us, please make that payment sometime today or this evening....there will be a new password tomr for the firetalk room....as you now know Teresa has already set up the next & remaining 3 days for class folks later Next Month....so if you sign up in the real time room today, when you go there for 3 days, we will simply add those days on to your subscription...
3...anyone that is in the free trial from last week and got knocked off when we went paid service on Monday...please e-mail me, and we will enable you for the Ispec site and firetalk to complete your Free Trial..you may have only gotten 3 days last week...and are entitled to 2-3 more days...so let me know...
4..i wanted to address the realmtime room's objectives...we are trying to make a "Days Pay" everyday..no matter what the current trend...i will always be scalping to make a living, i really enjoy it...and of course we will have swing and position type trades too...BUT...money is the name of the game...yesterday i lost 1 1/2 points trading the QQQ's and then picked up 1 1/2 in the afternoon...
my point is this....if your trading 300-500 shares or more on each trade...and you can make 2-5 points, take it fast...if the ROOM's daily goal is to try and make $500 bucks per day...then let's book it first and foremost...
for all you newer type traders, if your trading 100 shares per trade then lower your daily sites to $200-250 per day profit...and please once you make the target...sit tight...only take the very next trade if the risk reward is 2-1 or 3-1 in your favor...what i call "Elephant Hunting"...
and i wanted to say that the perfect vehicle for all of us is the QQQ's....if i made those 3 points as a profit...i would have been one happy camper...thats enough for me...greed will kill you as a trader..i mean D-E-A-D...be satisfied to make your daily $ goal, and then stop....think about it...if we can consitantly make this kind of money each day, then all of us will be smiling all the way to da bank...
not saying we'll win everyday..but all of us will cut those losers very fast...even if we are wrong..so what...sell quickly and let those winners run....use stops, trail them...be sensible in your approach...there's a team effort forming in this room..i see it, feel it...use it....
Ok..enough said...let's get to stocks...i am still thinking what with cycle lows coming between the 29th thru the 5th-6th of Dec, we should be very cautious on the long side just yet...
if the GDP tomr is well below 2%, which i predict it will be, i feel this will be a big negative...yeah people will say the FED will HAVE to cut now!!!!!!!!!!!..it won;t happen....they will move to neutral, yes, i can foresee that..but no cut...
my point being, the streets perception, is a continuing discounting of stock prices going forward...look at all tose charts out there, look at the prices of all those high flyers???
not flying so high anymore...and they continue to make lower lows...rally up, then roll over and down, again and again..i see it on P&F..amazing to say the least...
without a meaningfull rally today, Friday's rally was a suckers rally again....no follow thru...
i am still thinking short into those cycle lows...
SHORTS FOR TODAY....
ADI---JUST BROKE A TRIPLE BOTTOM, ANY RALLY UP SHOULD BE SHORTED,...
TIBX--52 WOULD BE A 3 BOX REVERSAL DOWN, 51 A TRIPLE BOTTOM BREAK...
PGNX--TRIPLE BOTTOM BREAK, TARGET 19, MIGHT BE A GOOD PUT PLAY...
BRL---ANOTHER POTENTIAL PUT PLAY 56 REVERSES IT DOWN..THE DEC 60'S MIGHT BE GOOD HERE..
SCMR--A PRINT OF 52 BREAKS THIS STOCK DOWN AGAIN...VERY NEGATIVE CHART...
NTIQ---RALLIED BACK UP AGAIN AFTER WE HAD IT AS A SHORT, WAIT FOR 90, AND THEN SHORT IT...
IWOV---SAME CHART PATTERN AS THE REST LOOKS WEAK AND HAS REVERSED BACK DOWN...
JDSU---61 IS A TRIPLE BOTTOM BREAK...NBEGATIVE
OK HERE'S SOME LONGS...
RIMM---HAS NEWS AND IS MOVING BACK UP HERE...BUT BE CAREFUL, TIGHT STOPS...
BGEN--SOLID BIG CAP DRUG---MIGHT BE A LONG CALL PLAY AFTER THE SELLOFF..BUT IS TRADABLE LONG...
CORR--EXCELLENT CHART COULD RUN TO 49/50..MARKET WILLING..
AOL--THE ONLY INET STOCK I LIKE...HAS REVERSED UP HERE...
OTHER LONGS...ONLY IF WE RALLY...
JNPR----CPN---TUNE--BRCD--NTAP(DEAD CAT)
THE PASSWORD FOR FIRETALK IS newbaby(lower case)...
see you later
best
jer
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