HERE'S MY MORNING E-MAIL...THIS IS FABULOUS FOR EVERYONE...
HOLD ALL LONGS<VBG>
OK, like we thought INTC warned...and the markets shook it off....THIS IS WHAT I WAS LOOKING FOR, AND SO WERE YOU...IGNORE BAD NEWS....THIS IS CERTAINLY A BOTTOM...
It actually occured last Wed at 2435 NQ's...yesterday we tested 2700 and we held...so i am now feeling a bit better...cautious, and not investing all the funds...but the major selling is done imo...
yesterday i had some family matters that i needed to take care of, so i will take this afternoon off from trading, and possibly 1/2 of Mon too...it's very difficult to get regular things taken care of when your working from 6 am thru 5 pm each day..so i need this time to square some personal things away...
AS FOR MY AFTER HOUR NOTE TO EVERYONE, THAT I SOLD MY QQQ'S, I FELT IT WAS IMPORTANT TO LET EVERYONE KNOW WHAT I WAS DOING...I GOT KNOCKED OUT OF THE ROOM NEAR THE END OF THE DAY AND COULD NOT GET BACK IN AGAIN...I WILL ALWAYS POST TO THE ROOM ON ISPEC ANY CHANGES I MAKE AFTER HOURS...AND ON SI AS WELL..
OK SO WE CAN NOW TAKE SOME SWING AND POSITION TYPE TRADES...I STILL FEEL WE ARE NOT OUT OF THE WOODS YET, BUT THE FED WILL BE THE KEY ON THE 19TH...SO IF YOU HAVE SOME PATIENCE, A CALL POSITION OR BUY AND HOLD HERE FOR 1-2 MONTHS MAY BE PRUDENT...
HERE'S TODAYS TRADERS
1...RBAK---THIS STOCK AND THIS CHART, LOOKS LIKE A HOST OF STOCK CHARTS I FOLLOW...BREAKS A DOUBLE TOP AT 81, RUNS TO 89, REVERSES DOWN AND CORRECTS, THEN HAS NOW REVERSED BACK UP..82 1/2 IS THE TRIGGER, 1ST TARGET BACK TO 89, 90 WOULD BE THE NEW BUY SIGNAL, NEXT TARGET???..SCARY...122!!!!!!..POSITION THIS STOCK WITH CALLS...jAN/fEB 75'S OR 80'S..AND HAVE PATIENCE...
2...NEWP---IT'S HERE AGAIN...THE CHART IS IDENTICAL TO RBAK'S, IT RALLIED, PULLED BACK AND NOW HAS REVERSED BACK UP AGAIN...106 IS A KEY PRINT FOR YOU, TAKES US TO 116 R IS THERE, 118 WOULD EXPLODE THIS STOCK...
3...PALM---48 IS A 3 BOX REVERSAL UP, 51 BREAKS A DT, SOME MINOR R AT 53 THEN?? MAYBE 65...GOOD CALL PLAY HERE FOR JAN/FEB...40'S OR 45'S..SOLID PLAY..SHOULD RUN FOR XMAS..I HAVE SAID THIS BEFORE...HAVEN'T I ??<G>
4...NTAP--BROKE A DT AT 66, RAN HARD TO 86, REV DOWN TO 72, HAS NOW REVRESED BACK UP, 87 NEW P&F BUY SIGNAL, BUT IT SHOULD RUN UP HERE TOWARD THAT NUMBER...CALLS ARE THE PLAY..BUY IT HERE...
5...INFA---BROKE A TRIPLE TOP AT 89 EXPLODED TO 104 WHERE IT MET R AT THE BRL LINE...REV DOWN TO 92, AND WILL REV BACK UP AT A 95 PRINT, SPLITS 2-1 12/14, SOFTWARE SECTOR JUST TURNED TO "BULL ALERT"..THIS IS A SOLID PLAY...
6...RFMD---GREAT CHART PATTERN...BROKE A TRIPLE TOP AT 26, RALLIED UP TO 35, REV BACK DOWN TO 29 AND HAS REV BACK UP HERE ON EXCELLENT VOL..36 A NEW BUY SIGNAL, 1ST ATRGFET 47..CALLS COULD BE SWEET HERE...
7...JDSU---ALREADY REV DOWN OFF THE RECENT RUN UP..68 IS A NEW 3 BOX REV UP, 72 A NEW BUY SIGNAL, WITH MINOR R AT 77, THEN TO MY TARGET 84/85 THE BRL LINE...
8...SCMR--BROKE OUT AT 50, RAN TO 63 AND PULLED BACK TO 53, REV BACK UP TO RUN AGAIN, BUY HERE, AND WATCH FOR 64 NEW DT BUY SIGNAL, TARGET FROM HERE IS 74...
9...QLGC--buy signal at 93, exploded to 122, rev down here to yest lows at 97, has rev back up here, look for a good run back to 122..
10...EMC..BIG CAP TECH...WAIT FOR 88 A 3 BOX REV UP SHOULD RUN TO 92, THEN BREAK THAT FOR A NEW BUY SIGNAL AT 93, TARGET 100..SOLID CALL PLAY
Ok see you in the room
STOCKS OPTIONS FUTURES WITH OJ AND T-LO
password..today is ..lower case...it's on the site..
let me know if we wish to do a Sunday Nite Class
thanks
jerry |
