i do not post here much anymore too busy really
here's yesterdays update to the troops..you figure it out
Good Morning all
We are currently overbought on a short term level. However the coming shallow pullback will only set this market up for a much larger rally thru July and August earnings season time frame. This is the time to get ready to buy and hold for what I think is a serious upside potential for large profits overall. On all Daily Candle Charts we are now breaking the 3 month down trend line all the way back to the Jan highs. So resistance is waning here, second the OPTI & NYSE BP'S are about 2% away from a 3 box reversal back up into X's on Point & Figure. Folks with all due respect you must be long or be wrong! If those big boy indicators turn up this market will explode up like we did at the lows in March 2003. The run could be breath taking, and as I said a sensational time to get back any and all loses. You have to be in the right sector, the right stocks, the right ETF's etc. You must diversify too. You cannot have all your eggs in one basket(sector), and you now can clearly see the power of using large cap options plays that can really make us serious money with little risk if I'm right. By using the DIA's, the OEX, the QQQ's, and all the ETF's the SMH, BBH, HHH etc they all trade options. Go out in time and let them cook. Over the weekend i'll spell out the game plan and the stocks, sectors and etf's to own for the expected run. We can wait for this small pullback during June ahead of the FED. The street shook off Greenspan's statement that interest rates "MAY" have to be raised quicker than earlier thinking. WHY? Higher Oil prices. We shall see, isn't Oil coming down? It matters not once we get that first hike out of the way during the FOMC late this month, then the markets will give a sigh of relief and rumble onward and upward thru the summer months.
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OK LET'S DO OUR WATCH LIST FOR TODAY KEEP TRADING THE PLAN HERE. THE MC CELLANS ARE WAY OVERBOUGHT HERE AND NEED TO MOVE LOWER. EXPECT A PULLBACK SOON.
QCOM---69.90 THE BTL---68.75 THE SST---IF YOU LISTENED TO ME OVER THE LAST 2-3 WEEKS AS I POUNDED THE TABLE ON THIS STOCK USING OPTIONS YOU'D BE IN HOG HEAVEN RIGHT NOW I KNOW I AM.
KLAC---48.15 THE BTL---47.05 THE SST---HAS COME A LONG WAY BUT IS ALWAYS TRADABLE..THE SEMIS RESTED
BRCM---44.35 THE BTL---43.30 THE SST---TRYING TO GET THRU HEAVY O/H R AT 44.00 HERE I THINK THIS STOCK CAN GO ANYWHERE WITH ME IN IT AT 41.50 TRAILING A STOP HERE.
AMZN---52.45 THE BTL---51.40 THE SST---WAY UP THERE ON THE DAILY CANDLE CHART(DCC) NEEDS A MUCH NEEDED REST SOON CAREFUL ON THE LONG SIDE HERE VERY OVERBOUGHT. BEARISH DIVERGENCE CCI DAILY.
SMH---39.15 THE BTL---38.30 THE SST----39.50 IS THE BIG BREAKOUT(B/O), WATCH FOR IT SOON.
CSCO---24.10 THE BTL---23.25 THE SST---MAKING ME SMILE AS I AM LONG FROM 21.73 AND DO NOT WANT TO SELL YET,. BUT WHO KNOWS I MAY ANYWAY............;0)
NTES---47.70 THE BTL---46.50 THE SST---FLAGGING ON THE DAILY CHART I THINK THIS HAS A LOT OF UPSIDE ON DOWN THE ROAD.
HHH---61.90 THE BTL---60.70 THE SST---VERY EXTENDED HERE THIS INET ETF. LOOK FOR A PULLBACK TOWARD 56/57 AREA TO GET HEAVILY LONG USING OPTIONS. COULD SHORT THIS TOO IF WE CORRECT A BIT.
DIA---105.05 THE BTL---103.90 THE SST---I WOULD USE OPTIONS ON THIS ONE AS I DID. I SOLD MY JUNE 100 CALLS FOR $4.40 YESTERDAY FOR A 100% PROFIT ON MY MONEY OVER THE LAST 3-4 WEEKS REALLY. GET INTO THE GAME OFF THE COMING RE SET... YOU COULD MAKE A LOT OF MONEY AS I THINK THE DJIA IS GOING A LOT HIGHER.
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OK THATS IT FOR THIS AM...I'LL BE OUT A BIT EARLY TODAY BUT AROUND FOR MOST OF THE DAY IT'S GOING TO BE SLOW ME THINKS..CONSOLIDATION TYPE DAY AGAIN.
ALSO I AM WATCHING FLY ON THE WALL SEEMS REALLY GOOD TO ME.
TONIGHT IS THE LAST CLASS FOR ALL STUDENTS, HEADED UP BY SHARKY FOR THE FULL 2 HOURS OR MORE.
I ONLY HOPE YOU USE THE TOOLS AND TACTICS YOU WERE TAUGHT TO MAKE THIS WORK FOR YOU, BEST OF LUCK.
SEE YOU ALL IN THE ROOM
JERRY |
