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Strategies & Market Trends : Trading with Jerry Olson(OJ)

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To: Jerry Olson who wrote (460)12/18/2002 10:53:43 AM
From: Jerry Olson  Read Replies (1) of 1617
 
AND HERE'S THIS AM'S UPDATE...THIS GOES ALONG WITH MY NEWSLETTER AND REAL TIME ROOM...

Morning everyone...

yesterday was a very slow day...I don't think today will be the same deal...As I've said Wed is usually a down day..let's see how far they push it down first..and IF they want to take it back up late...

I held shorts MCHP---BRCM--IDPH(PUTS), I'll probably exit all those this am...with trailing stops...sometimes if we tumble early it gets smacked harder than expected...

I can say this pullback is on pretty lite volume as has been any rally too..it's holiday volume folks...so things can and usually will be moved either way with lighter vol...

just trade the plan...sit chilly till you see the good trade during this week..why rush something if there's no action...we need movement to make a buck...wait for it..heck go out during lunch this week...take a couple of hours off..go exercise...do it...hahahahahahaha..that is NOT me<g>...

HERE'S SOME STOCKS TO TRADE...

MSFT---STILL IN A COL OF O'S OFF THE DOUBLE BOTTOM BREAK AT 53...IT WAS UP 3/4 ON MONDAY AND DOWN 3/4 ON TUES...HANGING MAN ON THE DAILY CANDLE CHART(DCC)....55 THE BUY TRIGGER LONG(BTL)...53.65 THE SST...

QLGC---AT SOME OVERHEAD(O/H) RESISTANCE(R)..RIGHT HERE ON THE DCC...THIS STOCK COULD CRACK ON A HARD DOWN MOVE IN THE COMPX...38.60 THE BTL....36.95 THE SST...

QCOM---HANGING MAN YESTERDAY...MEANS INDECISION...40.10 THE BTL...38.90 THE SST...

MERQ---QUITE A TRADER FOLKS...IT'S IN A SMALL TRIANGLE ON P&F...32.15 THE BTL...30.80 THE SST...

CYMI---DOJI DCC..AND A GREAT INTRADAY MOVER...SMALL TRI LIKE MERQ...34.40 THE BTL..32.90 THE SST...CLOSED WEAK...

EBAY---VERY VERY STRONG HERE EVERYONE...THEY CAN'T BREAK IT DOWN...70.75 THE BTL...69.40 THE SST...

KLAC---STILL IN A LONG COL OF O'S..AND CANNOT REVERSE UP...38.60 THE BTL...37.10 THE SST...

IDPH---BACKSIDE BOUNCE INTO THE DESCENDING 20 EMA DCC...WITH A DOUBLE TOP AT 35 TOUCHED, YESTERDAY AHEAD OF THE BIO NEWS...CRXA...35.10 THE BTL...33.60 THE SST...COME ON DOWN...

MCHP---I AM SHORT THIS STOCK...WITH THE MU BAD NEWS THE SEMIS COULD FALL HARD THIS AM...REMEMBER THIS FOLKS..THE SEMI BP(BULLISH PERCENT) IS FALLING HERE AT 62% AND STILL HAS ROOM TO FALL MORE..MY DOWNSIDE TARGET IS AROUND 45%...SPINNING TOP YESTERDAY ON MCHP...27.10 THE BTL...25.90 THE SST...

BRCM---I AM SHORT THIS STOCK TOO...DOJI YESTERDAY...THE P&F CHART IS SET UP AS A SHORT...17.55 THE BTL...16.35 THE SST...

OK TAKE IT EASY TODAY...WAIT FOR THE GOOD DAY TRADE SET UP..

BEST OF LUCK

SEE YOU IN THE ROOM

JER




Jerry Olson
jerry.olson@verizon.net
www.buyitbuyitsellitsellit.com


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