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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: Mike Perras who wrote (46613)	6/27/1999 9:33:00 PM
From: Jerry Olson	Read Replies (2) \| Respond to of 120523

Gemmers... some quick thoughts on the indexs... as of right now..we are at a critical juncture on the DJIA-OEX-SPX-SEMIS... The Dow is right in the middle of its trading band at 10,550... 10,450 would reverse the trend down with a double bottom break...i think we would move quickly to 98/9900..fast... if we move up 10,700 would give a new buy signal, with resistance at 10,900, but another buy signal at 10,950.. the OEX and SPX broader measures of the markets..are hanging in mid air..obviously Tues will force the issue one way or the other..i could give hard numbers for both, but we all seem to follow the DOW..so just watch those numbers for now... one caveat...the Semis Sector...both the SOX index and the P&F Bullish percent for the Semis are way overbought..at 86% for the P&F index...i would not buy semis right here..no way!!! AND if we turn down??? they will lead the way lower with out a doubt...potential major shorts...risk reward is to the downside, almost either way we go... i can say Jenna's stock selections on her WL's have been nothing short of outstanding....what with all the new July earnings plays coming out..we should all do quite well..market willing... i'd be cautious till we see what he's going to do on Tues..a given rates will move .25 basis points no more...BUT, i feel if he continues the "tightening bias"..it will be a negative for the markets...my guess would be a blowoff selloff, that would be buyable...down to 98/9900 area...and from the top of 11,100 about 13/14% correction... if he raises and moves to NEUTRAL??? heh heh..hang on we goin' to 12,000 within 30-60 days...like ZOOM City...i did said "IF", that's what happens... anyway be cool...stay alert...and hold your breath<g>...ok ok now breath will ya????....:>} my regards Juice...