Hiya Lee
the room will hit 100 tomarrow..right now it's free to all who want to trade there...we love our room...
me??? i am doing a selected newsletter launching June 1st...
should be cool...hope your well....we have breakouts everywhere on all indexs...triple tops everywhere..
this is awesome when your right???..not always tho..but this time i called the exact buy trigger last Weds morning...it even surprised me???
hehehehehehehe..
here;s the morning mail for today...i am updating my web site right now...a few more days and it will be ready for freddy...best to you Lee...
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Hi Everyone...
just back from a nice weekend in NYC...it was Arlene's B-day..we had fun...man the wine was flowing<g>...
If there is anyone on this list thats here by error, please let me know...this is a fee based service starting June 1st payable in advance for a weekly newsletter with alerts and updates inbetween as i see fit...for the sum of $40.00..you'll pay it on my revamped site using Paypal or by check...directly to me at..Jerry Olson---1657 the fairway ste 197, Jenkintown, Pa. 19046..this will be payable the first of each month...please be prompt...
the real time trading room, is FREE....i will be there sporadically thruout the summer months...and basically not there each day for sure...however there are top gun traders there you can follow with out fear...
For all intents and purposes, i would implore you all to begin to read and get the basic understanding with Point and Figure Charting...You'll need to get the the language i use down pat, of this Technical Analysis(TA) that i use for longer term and some short term trading...the site is www.dorseywright.com..let them know i sent you...Tom Dorsey is a friend...take the free trial offer and immediately go to the P&F University on the site to get a quick start on learning this easy TA Charting i have been so successful with for years...I talk about it in Active trader Magazine in their April 2000 Inaugural issue..
I would like to begin by updating you on my current thinking on the indexs we will follow each month, as well as sectors and stocks within those sectors...here's a brief reference legend for you to print out so you can follow my terminology of abbreviations i use within the letter..
R===RESISTANCE
S===SUPPORT
BRL===BEARISH RESISTANCE LINE...THIS IS A LINE THE MOVES FROM HIGH RIGHT DOWN AT A 45* ANGLE AND ACTS LIKE A TRENDLINE RIGHT TO LEFT...IT PROVIDES HARD R OVER HEAD...UNLESS THE STOCK OR SECTOR BREAKOUTS ABOVE IT...
BSL===BULLISH SUPPORT LINE....SAME AS ABOVE ONLY THE LINE IS TRENDING UP FROM RIGHT TO LEFT AT A 45* ANGLE..ANYTHING BELOW IT IS NEGATIVE...ABOVE IT IS GOOD...
TTOP===TRIPLE TOP BREAKOUT
TTBOT---TRIPLE BOTTOM BREAKDOWN
DT===DOUBLE TOP
DB===DOUBLE BOTTOM
HP===HIGH POLE AND LP FOR LOW POLE...USUALLY MEANS OVERBOUGHT OR OVERSOLD...EXAMPLE WOULD BE...A HIGH POLE AT THE BRL LINE...A GOOD SHORT THERE...
BT====BULLISH TRIANGLE...USUALLY EXPLODE FROM THERE
BRT===BEARISH TRIANGLE SAME THING ONLY DOWN FAST...
I'LL ADD MORE AS WE MOVE FORWARD IN OUR SERVICE, AND AS YOU GET UP TO SNUFF ON P&f....PIFFING AS WE OLD TIMERS CALL IT IS FUN AND VERY RELIABLE IF YOU CAN READ THE PATTERNS..I CAN..AND SO WILL YOU...
Tonight i am going to talk about all the indexs we follow rather than specific stocks...
The DJIA---the DOW/INDU....It broke a big area of heavy R at 11,000 a TTOP breakout in fact...impressive in the face of heavy bearishness that i spoke about in the room and in my letter..the famous "Wall of Worry"..If we do not have FEAR or the bears to help us bulls then we go no where...and btw fwiw..i am only bullish right here and now..i have been a BIG time bear since Mar of 2000, and posted and pounded the tables for months to "Sell all rallies"..to short the living hell out of everything you can think of as a big time blimp...
well thats over for now...I am bullish and will play the trend right here and right now, and so will you, WE DO NOT FIGHT THE FED...PERIOD..I CALLED THAT RALLY ALMOST TO THE MINUTE..NO ONE BELIEVED ME......So we have a solid buy trigger on the DOW right now..let's see how high it can go till it exhausts itself and corrects..we'll be watching it carefully...all longs that you buy and hold with have GTC(Good till Cancel) Trailing stops under them..these stops are STOP GAINS..NOT STOP LOSSES...get that in your head...If you buy a stock i reco..and your making a profit..and you trail a stop and you get stopped out with that profit..that was a stop gain, not a stop loss..
Ok let's move onward..the NAZ..or the COMPX/NASD...this index is a dog with fleas so far..it needs to break 2250..if it does breakout here is my upside target would be 2450/2500 right at the BRL line...if it breaks 2250..do not sell any buy and holds you have..trail stops up only..let your winners run.. I am going to show you how to make the most of your good fortune of trading the markets my way...without fear or greed...calmly and with a relaxed sense of power....no need to daytrade or scalp with these stocks...
SOX index as important as can be for the NAZ...it's looking much better right now as i've said in the room...it negated a sell signal by reversing up 3 boxes on the P&F chart..it has heavy R at 680, but folks..700 is a triple top breakout..we will be long selected semis for sure...my upside target would be from 760/800...
SPX, a terrific breakout last week, well above Carpino's target of 1278...in fact it's even more bullish than anyone could imagine...there was heavy R at 1280..heavy...it has room to run right up to 1320..with some minor R at 1310...1st stop...the chart is a perfect inverse head and shoulder pattern...btw fwiw..Chuck Carpino is a terrfic cycle guy i use..his e-mail is chuckcarpino@msn.com..his site will be up and running this week or next...he charges for his work..as he should...
the BTK..wow is all i can say..this index held a good S at the DB of 530..revrsed up and broke a TTOP at 580, new target is 660 with minor R at 620...the bios have surprised the street..watch our favs..HGSI--PDLI--MYGN---GENZ---IVGN---CRA....
And now the VIX index..i have spoken about this index each week to get you to understand how this works...it's inverse to the chart and the markets..it broke the TPBOT at 26 is heading for my 1st target of 23...i called this 2-3 weeks ago...when it breaks below 23 we should have a correction in the markets..Remember this...the May 4th SPX low was 1230..we may go and test that higher low in that index one more time..gosh that would be awesome for us long term buy and holders..delicious too<g>....as of last week the TOP of the SPX was 1296...we need to watch this index for direction..if you re-read what i am saying here about the indexs..you'll get to see that they are all breaking out, using triple tops...ALL TRIPLE TOPS CORRECT..ALL...WE WILL SELLOFF HERE SOON...SO BE CAREFUL AND USE STOPS ALWAYS..NEVER LEAVE A POSITION TYPE TRADE WITHOUT A STOP...
as a subscriber to this service...feel free to ask me where to place stops in your long term portfolios of stocks...i'm available to you only...i also would appreciate any help in telling people about this service, but you should not send it out to others for nothing...your paying me for this information..it's solely yours....if the subscriber base grows to where i can see the need for this type work, and it's worth my time for the expected income then if course i'll continue it...if not..no problem, i'll just notify all of you that it's ending..and let it run thru the end of the any month till completion...all payments are from the 1st of each month...
during this week i'll be talking about stocks and options to buy and trade....i need time to look at everything i normally check before i make any reco's...i am long CSCO here..and CIEN and DELL June calls...I am heavily in EBAY at a great number 56...those triple tops are sweet, i am long HGSI and PDLI BOTH AT 59 as well looking for more bios, I am long selected semis too..AMAT---TQNT--NVLS OFF THE BSL LINE BOUNCE & KLAC OFF A FABULOUS TRIPLE BOTTOM SUPPPORT AT 49.......i will e-mail you privately as to what to buy where to place stops and what my upside targets are for the stocks selected...
OK FOR NOW...
let me know if your not supposed to be on this list for my weekly newsletter, thanks..my e-mail is jerrysdogs@home.com
my site will be up and running too..at...http://www.buyitbuyitsellitsellit.com...some time this week...
best of luck this week..
jerry
Jerry Olson
Master Class Trader...
buyitbuyitsellitsellit.com |
