hey...we killed expe and room...check out the room trigger<VBG>...yesterdays morning up date...
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Good Morning everyone.
Well War has started...let's hope it's over very quickly and our troops come home safely.
I warn all of you to be in cash every night. This will be an event/news driven market now each and everyday..If you gamble you lose. There is no good reason to even think about losing your money during this time frame...anything can and will happen over there and "maybe" here...
be safe with your money, please!
We are not going to miss anything..right now folks, I do not have 1 indicator of any importance on P&F, what with this entire rally that makes me bullish..not 1.
The 3 main indicators on P&F are nowhere near reversing up...Yes we had a nice fun rally, so what!
this could be nothing more than "another" bear market rally. In fact when you consider the current state of the economy we could be in real trouble this quarter with earnings and warnings lying just ahead...
It does take rallies like we've all seen to begin to build these reversals I'm looking for. So one step at a time "if" it's real. It will build slowly trying to prove this is really a change for the markets...I am not convinced.
Heck I'm from Philly folks<VBG>
So I'm not investing, not bottom fishing, not doing anything except selling or writing(same thing) covered calls on this rally up.. Raking in hard earned cash month to month...Others are selling naked puts(dangerous) for those that do not know how to do this with options..but useful if you want to own stock at cheap prices while capturing nice premiums.
Let's give this war some time to unfold and then as we move forward we can begin to invest if this is for real. No rush, no hurry be safe be prudent with your capital..Many of you have lost large amounts of money in trading accounts and long term portfolios for over 3 years now. I think if you can get it together right now, sell those dog stocks, and raise cash to be able to BUY the truly solid stocks for the next run higher you'll be doing yourself a positive thing setting your accounts up to buy what you should be buying. Without that capital, your sitting dead. Unless you actually sell those stocks you will not have tax losses to use against gains this year..
Yes I said gains..I fully expect us all to do very well when and if the P&F indicators reverse up. I'll put together a stock portfolio for all of us to get heavily long and work it all the way up and out...So sit chilly and relax.
OK HERE' STOCKS TO TRADE TODAY...THE STREET CONTINUES TO BUY THE DIPS. WE SHALL SEE IF IT CONTINUES.
KLAC---39.80 THE BTL---38.70 THE SST---POWERFUL SEMIS HERE...HAS O/H R AT THE BRL AT 41...
ROOM---55.25 THE BTL---53.90 THE SST---POWERFUL DCC CHART BUT GETTING A BIT OVERBOUGHT HERE..
MERQ---33.05 THE BTL---31.95 THE SST---STOCK IS IN A TRIANGLE COULD GO EITHER WAY
PG---88.50 THE BTL---87.20 THE SST---3 WHITE SOLDIERS VERY BULLISH PATTERN DCC..EXTENDED HERE
IBM---82.60 THE BTL---81.45 THE SST---CHART IS LOOKING BETTER BUT I THINK IT'LL PULLBACK..
ELX---21.60 THE BTL---20.80 THE SST---INSIDE BAR YESTERDAY, MAY MOVE BACK HERE NICE CHART P&F...
IMCL---17.15 THE BTL---16.25 THE SST---EXTENDED CHART HERE ABOVE THE TOP OF THE 10 WEEK TRADING BAND..
NXTL---13.85 THE BTL---13.10 THE SST---CHART IS LOOKING BETTER AND BETTER I LIKE IT LONG.
MXIM---40 THE BTL---39 THE SST---OVERBOUGHT HERE...SHOULD BEGIN TO PULLBACK..
QCOM---39.55 THE BTL---38.60 THE SST---RIGHT AT HEAVY O/H R HERE AT 39 THE TRIPLE TOP ON P&F...40 NICE B/O
OK EVERYONE LET'S SEE WHAT THE MARKETS BRING US TODAY..I'D LIKE TO REMIND YOU ALL THAT THE "OTHER" MODERATORS IN THE ROOM, GEORGE ZIMM, ARI & MISH ARE ALL TOP TRADERS...AS YOU ALL WITNESSED YESTERDAY THOSE GREAT CALLS OF MISH..I KNOW HIM AND TRUST HIM...YOU WILL HAVE NO PROBLEM WITH HIS CALLS...I'M JUST ONE PERSON...
SEE YOU ALL IN THE ROOM
REGARDS
JER
jerry olson
www.buyitbuyitsellitsellit.com
jerry.olson@verizon.net
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