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Strategies & Market Trends : NetCurrents NTCS -- Ignore unavailable to you. Want to Upgrade?

To: Jerry Olson who wrote (5104)	12/19/2000 7:05:27 PM
From: Jerry Olson	Read Replies (1) \| Respond to of 8925

Here's the morning mail..gee whiz i was doing so good early?????<g>... $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ Good Morning my fellow traders...<g>.... DA FED is on DA WATCH...they need to do something or else...every big cap tech chart i look at is in terrible shape..potential breakdowns all around...all the stocks we know and love have the same basic look..big sell off's some feeble rallies and NOW????.... while we have consistantly sold short for the last 4-5 months..like in SELL ALL RALLIES....i now feel we are trying to develope a bottom....a sideways backing and filling senario that still hurts when you hold long...please we are far from emerging out of this debacle... with out FED intervention today, i look for more selling to continue...the charts for shorting this action or shall i say inaction today will need this day to consolidate and morph into what i can see as a tradeable pattern for us to dive into.... i know we have heard all the warnings, all the doomsayers out there, the continuous and relentless downgrades and such....well, thats ok...it's always like this at the bottom area...all the wall street pundits pile on to their piers calls to downgrade the same stocks so as not to look to stupid....why they didn;t do this 40-50% higher is beyond me....does not matter.. if we fall into the abyss, we will short the S***T outta what ever is not nailed down...if we rally we'll be on that side too...i can sense people in the room are becoming more comfortable on the short side...great...this will make us all complete traders... it is always wise to enter each day with a neutral bias<G>.....then trade the days trend using our traders list or other stocks based on patterns, and such...we are evolving into a solid unit of high class traders...let's not get into a major bias ourselves...let's continue to strive for a "days pay" first and foremost..FOCUS FOCUS FOCUS....zone in on those stocks that we know and love...does not matter their names...not here and not now.... we are not out of the woods by a long shot..i still have only placed 1/3 of my long term port in to use here....and will not commmit anymore cash as yet...today may help...we'll see... HERE'S THE TRADERS LIST TODAY... 1...ARBA--DEEPLY OVERSOLD HERE, LOOKING FOR A DEAD CAT BOUNCE HERE, 64 IS THE 3 BOX REVERSAL WITHOUT BREAKING 60..59 IS THE SS(SHORT SELL).. 2...MERQ---NICE MOVING STOCK INTRADAY, COULD MOVE UP TO 102/104 AREA IN A POSITIVE MARKET..91..SS.. 3...PMCS---VERY OVERSOLD---98 IS THE LONG HERE...114 HEAVY R..93..SS.... 4...MLNM---CHART IS LOOKING NICE HERE, 65 BUY TRIGGER, 60 SS..BUT THIS IS ONE NICE DEVELOPING BIO TECH.. 5...NOK...A POSSIBLE SWING/POSITION TRADE "IF" DA FED PLAYS BALL....GOOD RUN UP HERE AND A PERFECT PULLBACK ON THE CHART..EXCELLENT RISK REWARD TYPE PLAY LONG...48 IS THE REVERSAL UP WITH A LOOSE STOP... 6...ORCL--THIS STOCK IS BUCKING THE ENTIRE MARKET, AFTER STELLER EARNINGS...34 IS A BUY SIGNAL AND 37/38 A QUICK UPSIDE TARGET...IT HAS BROKEN THE DOWNTREND LINE AS WELL...SOLID LOOKING CHART.. 7..CHKP--150+ IS THE BUY TRIGGER...138--SS--THIS STOCK P&F CHART PATTERN IS A BEARISH SIGNAL REVERSAL UP...HAS PULLED BACK AND CAN RALLY TOWARD 156 AGAIN..MARKET WILLING.. 8...CYTC---BROKE A TRIPLE TOP HERE AT 62, THIS STOCK HAS HELD THE UPTREND LINE ALL THE WAY...SOLID...CAN BUY IT RIGHT HERE OR WAIT FOR ANY SMALL PULLBACK.. 9..ADBE---BROKE A TRIPLE BOTTOM AT 62 FELL TO 57, AND AS PER USUAL REVERSED UP TO R AT 65...ANY REVERSAL BACK DOWN HERE STARTING AT 62 WILL TRIGGER A SS, AND WATCH 71 FOR THE CONTINUING BUY SIGNAL...CHART IS WEAK.. 10..NTAP--THIS STOCK'S CHART IS TYPICAL OF WHAT I AM SEEING AND SPOKE ABOUT ABOVE....GAVE A SELL SIGNAL AT 71 SOLD OFF TO 62 AND REVERSED UP OFF AN OVERSOLD CHART..RIGHT AT R TO 70...IT'S DEAD IN THE MIDDLE OF.."WHICH WAY DO I GO"????..AT LEAST 15-20 CHARTS LOOK LIKE THIS...71/72 IS THE BUY, 61/60 IS THE SELL... OK HOPE YOUR EXCITED ABOUT THE DAY ....MY SUGGESTION TO YOU..IS TRY TO BE IN CASH AT 2:15 TODAY..WHAT EVER THE FED DOES THERE IS ALWAYS PLUNGES AND RALLIES FOR AT LEAST 30-45 MINUTES..VIOLENT MOVES IN THE FUTURES...TILL PEOPLE READ AND TRY TO DETERMINE WHAT THE HELL THEY SAID<VBG>... I WILL HAVE TO LEAVE AT 2.30 TODAY FOR AN APPOINTMENT WITH MY WIFE...BUT WE'LL KNOW ALMOST IMMEDIATELY WHAT THE MARKETS LIKES OR DOES NOT LIKE IN THE FIRST 10 MINUTES...WE HAVE BEEN HERE BEFORE,...I EXPECT A RALLY INTO THE AFTERNOON MEETING....AFTER THAT??? YOUR GUESS IS AS GOOD AS MINE... SEE YOU IN DA ROOM.. todays room is..stocks options futures live with oj and t-lo..password is on the site... thanks to all that are renewing for the first time..i'll be sending out renewal notices as they pop up by date with the paypal link.. best to all of you juice