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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: kendall harmon who wrote (97502)	5/13/2000 9:33:00 PM
From: Jerry Olson	Read Replies (5) \| Respond to of 120523

HI Kendall & Gemmers.. do not fight the FED..i'm 59 yrs old..been trading these markets for 35 years lost $60,000 in the 87 crash in one day..it was shocking to say the least..i have never forgotten that disgusting feeling..ever... the trend is down, the FED is raising rates...the economy will slow..profits, revenues, will fall, and the cost of doing biz will expand..these are all negatives... why would anyone fight those 3-4 elements right now.... poeple are talking about a .50 basis point rate hike..i doubt it..more like .25 now and .25 in June...then their all saying we are gonna rally hard...I hardly think so... while AG wants to slow this freight train of an economy down..he surely doesn't want to kill it, and dump us in a reccession...a negative thought at best.. i lived thru that nightmare in 89-92..it was devastating to say the least, and he lived thru it too.. i am bearish short term. "till" we break thru upper channel lines in ALL indices with major volume behind it..anything short of that senario i will short this market with a vengence..till i see the whites of their fear ridden eyes... i'll buy some big caps techs at my prices..not Wall Streets... we need to wait..sit tight, watch our cash reserves..and carefully trade like we are walking on eggshells..period...do not be smug or complacent... take all profits quickly..hit and run, scalp only here.. be the good traders we are...technical traders with a mission.. we are neither bull or bear..short or long...we are not biased either way..in fact we could care less.. we can and will make money on both sides of the street... there's no room for complacency..neglect..or stupidity... there has been relentless selling in this market..people think we have successfully tested the recent Apr 14th lows.. i do not...while we are getting a better reading bull verses bear..it'a not there yet.. now if we really do rally up after the FOMC and break those resistance lines convincingly..then i'll go long for swing and position trades...but...only when i feel the time is right and not before... i could care less about the wall street pundits..they have no clue..never have either... i'll trade my charts and indexs as always..with stealth like sharpness and full of purpose... we after all are technical traders..chart traders, trend traders...ignore all the noise and junk out there..forget the spin doctors with their own agendas..they lie all the time.. just go down the road..never looking side to side..just straight ahead..and we'll all do what's brung us to this dance, while others are crushed and out of business for good!!!!..if you don't understand what your doing then stand aside and preserve capital..at all costs..do not trade..sit tight till we give the all clear... this is without a doubt the most trecherous market i have ever seen before...volitility is here to stay...we must be prepared to traded it..and we shall... my regards to all Gemmers... one last note to all...my cycle guys have this market heading below those April lows from about the 19th thru the 25th..for the real bottom... will it happen???, will we get there??? who knows...i am just telling everyone..this person has been nothing short of uncanny..i trust his assessment..and will trade accordingly.. and "IF" he's wrong????..so i'll miss a few days of the rally..big deal..so what..i could care less..i'd rather have the money to trade with, than try to force any trade that becomes a losing one... good luck to all...luv OJ