Longer-Term Market Trends Message Board

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Strategies & Market Trends : Longer-Term Market Trends

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To: Jerry Olson who wrote (1518)	8/12/2008 8:03:54 AM
From: Jerry Olson	of 3209

Just a quick update we've been long for about 3-4 weeks now using P&F Bullish Percent reversals back up to guide us along the perilous markets<g> As mentioned here weeks ago we were waiting for the SPX and "all" other major indexs to break areas of solid "R" they all have done that now. On the BP front "all" BP's are moving higher together very powerful stuff. If you;re long stay long trailing up stops. currently we are using ETF's to trade the markets. QLD-SSO-UUP-RXL-DTO etc. It makes a workd of sense using etf's rather then idividual names. for those i love Tech here using options out to Oct, AMZN-AAPL-RIMM etc, the street is buying the beaten down names in the airlines, semis, tech etc. Gold was a short, as was crude and all the bubble commodities. So money is rotating out of those high flyers back into the more mundane types. Because of weekly Momentum, and field position on the BP's buy all pullbacks. we are due for a short term consolidation now. good luck jerry

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