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

To: Crystal ball who wrote (38022)	4/5/2001 11:01:50 AM
From: Jerry Olson	Respond to of 50167

HERE';S THE MORNING E-MAIL....DO NOT GET EUPHORIC... ----- Original Message ----- From: Jerry Olson Sent: Thursday, April 05, 2001 7:30 AM Subject: BOUNCE CITY Good Morning Everyone... Well in each of my morning e-mails i've been looking for this technical bounce. So here we are...how far does this bear market rally go??? and for how long??? your guess is as good as mine...let's play it day by day...remember this is only a technical bounce from very oversold conditions... All the reasons were in place as of Mon...VIX began a spike over 40, bearish sentiment was at all time lows, stock charts and indexs were streched to the downside, and now will act as a rubber badn effect for this bounce back... How should you play it??? NO different than before...Day to day...Yesterday several people asked me about holding shorts over night???..i must be from outter space!!!!..of course i said no...we do not hold over night hoping and wishing for devine intervention!!!! So you'll miss 2-3 points on 1 stock??? big deal...Listen...this is nothing but a bounce..we have not bottomed..bet on it..People in general do not like to short...they love the long side, the buy side..so you'll get this rally..and then what???..We have Cycle lows at the end of next week...HELLO????..Let's just make some nice money...period...who cares where and how far we run... OK, i have decided to close the room effective May 1st...PLease as of this date April 5th do not renew...All those that have renewed of course i'll be here till your subscription runs out...I am going to begin to cut down my morning e-mail list as of today...I am taking no more free trial people...While i love the room, the work load is too much for me alone...I certainly appreciate all the help from people in the room.....I see no reason not to continue to hang out together, as there are some excellent traders in this room..some of the best really...it's been a terrific experience for me to be a part of this whole process..but there's been some very disconcerting things that have happened over the last 2 months to people in the room.. After trying to set down guide lines for everyone in this treacherous market climate...people on there own decided to buy and hold???..everyday i would remind people to be in cash...every night!!!..They did not listen and lost serious amounts of money..i posted some of those letters with their permission...and of course we had people dropping out that did not tell us why...I am sure there were many other reasons too...But suffice it to say...it bothered me tremendously... What really got to me was the lack of use of STOPS???..it was to say the least amazing...How, why?? would anyone that decided to hold, not use stops too???..i am speechless...in any case it shows human emotions can overwhelm what we know to be true...The power of those demons control us all....it's simply mindboggling...So thats the sum and substance of this note...let's move on for now... HERE'S THE TOP TRADERS LIST FOR TODAY.... 1...IBM---PERFECT PULLBACK TO A SLIGHTLY HIGHER LOW AT 91...IT'S REVERSED UP ON P&F...93 1/4 THE BUY WITH A RUN TO 100 MY TARGET...91 IS THE SS.. 2...CHKP---DCB YESTERDAY, AND IS CONSOLIDATING FOR 2 DAYS NOW...43 3/4 THE BUY TRIGGER, 1ST TARGET 50...41 1/2 THE SS.. 3...CIEN...HIT THE BOTTOM OF THE TRADING BAND ON P&F CHART...36 1/2 THE BUY TRIGGER..43 1ST TARGET..34 SS.. 4...QCOM---DCB IS VERY OVERDUE...45 1/2 THE BUY TRIGGER..42 3/4 THE SS..TARGET 52ISH.. 5...CMVT---ANOTHER VERY O/S STOCK...46 3/4 THE BUY...54 1ST TARGET..44 3/4 THE SS. 6...NVDA---HELD THE DOUBLE BOTTOM ON THE 15 MIN CHART YESTERDAY...59 THE BUY TRIGGER HAS R AT 64/65...56 3/4 THE SHORT SALE.. 7..VRSN---IN A PERFECT PENNANT FORMATION ON THE 15 MIN CHART..SHOULD POP HERE NICELY...31 THE BUY TRIGGER 1ST TARGET 38...HEAVY R THERE..29 3/4 THE SS 8...BEAS---VERY OVERSOLD O/S...22 THE BUY TRIGGER...MUST BREAK OVR 23 1/2..1ST TARGET 29...19 1/2 THE SS.. 9...MERQ---HELD THE DB YESTERDAY..IT'S O/S...32 3/4 THE BUY...TARGET 39/40...30 3/4 THE SS.. 10...HGSI---40 1/2 THE BUY TRIGGER...IN A NICE TRIANGLE ON THE 15 MIN CHART...MINOR R AT 44 1/2 1ST...38 THE SS.. OK I'LL SEE YOU ALL IN THE ROOM....ON FRIDAY AT 12.30 I AM TAKING MY WIFE TO A DOCTORS APPT...I DON'T KNOW HOW LONG I'LL BE GONE..THATS TOMARROW... LATER JERRY Jerry Olson Master Class Trader buyitbuyitsellitsellit.com