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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: Jerry Olson who wrote (37915)	4/4/2001 10:34:35 AM
From: Jerry Olson	Respond to of 50167

here's the morning e-mail... ********************************************************* Morning everyone... The carnage could not have been worse yesterday..relentless continuing selling all day long without any relief...today is Carpino's cycle low date...and we're due for a DCB rally...it won;t be much, but we can trade it long when we turn up... Everything is falling into place for another feeble attempt at a short term rally..VIX over 40, bearish sentiment rampant, all the stock and index charts are over sold with high ADX numbers...However, at any moment..a big cap tech could warn, and that would end and chance of a major move...In fact there will be NO major moves unless the FED cuts intermeeting..Maybe Alan will do it on my Brithday<G> April 23rd....In fact if the eco numbers continue to come in that way they have been, there's an excellent chance for a surprise cut before the May meeting...one can only hope huh<G>? DJIA....hit my 1st target of 9400 off that rally to about 10K...this pullback now could reverse back up...let's look for 9600 first without printing 9300... NAZ/COMPX---1750 was taken out as expected...the NAZ is very weak right now, and any rally should be shorted...1850 is a normal 3 box reversal up...Just another weak attempt to rally.. SOX...still looks very weak here after breaking 500...560 is the normal retrace back up...but we'll see...it needs to firm up here and now.. SPX...hit Carpinos second target yesterday at 1100...might get a 1-2 day rally, but we'll short this rally too...1135 looks like resistance overhead now... HERE'S OUR TRADING LIST FOR TODAY I HAVE NOT CHANGED IT...JUST TWEEKED IT EACH DAY..IT'S WORKING BEAUTIFULLY... 1...IBM---ONE OF THE FEW COMPANIES THAT HAS NOT WARNED YET???..LOOKOUT IF IT DOES...RIGHT NEAR MY DOWNSIDE TARGET OF 89...91 1/4 THE BUY TRIGGER...89 THE SHORT SALE(SS)..WITH ANY BREAK OF 87 A BIG NO NO... 2...CHKP---A FALLING KNIFE...CONTINUES TO GIVES SELL SIGNAL AFTER SELL SIGNAL...LOOKING AT THIS CHART SAYS IT SHOULD RALLY UP HERE AS EXPECTED SO WE CAN SHORT IT AGAIN...EACH BOUNCE HAS BEEN A SHORT...MIGHT GET TO 48/49...42 1/2 THE BUY TRIGGER...40 1/4 THE SS.. 3...CIEN---BROKE YET ANOTHER DOUBLE BOTTOM...SAME CHART AS CHKP..IDENTICAL...36 3/4 THE BUY TRIGGER..34 1/2 THE SS... 4...QCOM---BIG SELLOFF ON THE CHINA NEWS...BROKE ALL SUPPORT AT 47...44 3/4 THE SS..47 THE BUY TRIGGER.. 5...CMVT---BIG SELLOFF YESTERDAY AND A MAJOR BEARISH CANDLE AT THE CLOSE...50 IS THE BUY TRIGGER...47 1/4 THE SHORT SALE.. 6...NVDA---HEY IT HELD REALLY WELL YESTERDAY...62 3/4 IS THE SS..WITH A BREAK OF 61 A NO NO..TARGET IS STILL 57...65 1/2 THE BUY TRIGGER 7...VRSN--BROKE A SPREAD TRIPLE BOTTOM YESTERDAY...AT 29 THEN HIT 26...29 1/2 THE BUY TRIGGER..26 1/2 THE SS.. 8...BEAS---INTERESTING DAY FOR THIS STOCK...AT 10.30ISH AFTER THE SLAM DOWN MORNING..IT STABALIZED AND MOVED SIDE WAYS FOR THE BALANCE OF THE DAY...HEAVY CALL BUYING IN THIS STOCK FOR APRIL AND MAY...23 1/2 THE BUY TRIGGER...21 1/4 THE SS 9...MERQ---PERFECT ASYMETRICAL P&F CHART..H&S ON THE DAILY HIT THE DOWNSIDE TARGET...NOW WHAT??....CLOSED AT THE LOD...33 THE SS..35 1/2 THE BUY.. 10...HGSI---FELL OUTTA BED FROM THAT NICE TOPPING AREA A WEEK OR 2 AGO AT 56ISH...AMAZING CARNAGE EVERYWHERE....39 1/4 THE SS...41 3/4 THE BUY.. see you inthe room.. best jerry Jerry Olson Master Class Trader buyitbuyitsellitsellit.com