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

To: James Strauss who wrote (38211)	4/6/2001 2:01:31 PM
From: Jerry Olson	Read Replies (2) \| Respond to of 50167

Jim love trading IBM..been using it for months now...perfect predictable trading stock...ON BEAS it's had very unusal options trading over the last 2 weeks...heavy... here's my morning e-mail...fwiw... ********************************************************** Good Morning everyone BINGO! we got that rally i was looking for...thats nice!..Let's see if we get a follow thru 1-2 days more here...The emploment number comes out at 8.30, and it should help us i think...While everyone enjoyed this technical rally..i am not getting bullish, and will look for a top to short very hard...I have my targets and if we get there..I'll hit it from that number..if we do not get there then the markets weaker than expected... Now before i go further...as of this weekend i will be in the room 3 more weeks...i will bill each person as your date comes up on a prorated basis...Over the weekend just let me know if your continuing thru the 1st week in May...If not i'll remove you from my list and the room..appreciate it..I would appreciate a check for payment... Let's look at the 4 indexs i've been tracking for the past 2 weeks.. DJIA---Terrific rally of course, but from deeply oversold levels...here's the story as i see it...First we need to break hard R at 9950, a triple top breakout on P&F..would be 10,000...as we all know..10,300 will be the upside target and the brick wall i'll look to short...Hey maybe we don't even get that far??? NAZ/COMPX---The NAZ made another feeble attempt at a so called rally, from deeply oversold conditions..this index looks terrible...1800 is just a 3 box reversal, it has R at 1950 and 2000 would be a double top buy signal...It has gigantic overhead R at 2250/2300, Maybe both the NAZ and the DOW get to hard R at the same time??? WHAT A SHORT HUH??? SOX---Did a normal 3 box reversal up on the chart, as a DCB off that triple bottom sell...It should move up to another lower top at 600/620 area...where i'll short it there...The whole index is weak... SPX--It could rally up here to heavy R at 1180..if it gets there...1190 is the triple top breakout..then it has more heavy R at 1210/1220... I picture this possiblility of all the index making this rally attempt to heavy R and, then we short everything we can get our hands on..Because each and every stock chart is nothing but DCB to overhead R's...PERIOD.....when i see double top and triple top buy signals on the indexs and major big cap techs, thats when i'll dive into the abyss...and not till that event actually happens... My guess is that companies will miss their expected reduced targets, or be in line, and with forward guidence as awful...We are still decelarating as far as the economic situation is concerned..and Untill and unless the FED cuts again all bets on the long side are off...From an investment point of view.... HERS' THE TOP TRADERS WATCH LIST FOR THE DAY... 1...IBM---MAN I AM GOOD HUH??? RIGHT AT MY UPSIDE TARGET AT 100...NEVER THOUGHT IT WOULD GET THERE IN ONE DAT THOUGH<G>...IT'S AT HEAVY R HERE, RIGHT AT THE BRL LINE...99 1/2 THE BUY TRIGGER...102 BREAK IS A MUST...97 THE SHORT SALE TRIGGER.. 2...CHKP---HAR R AT 50, 51 IS THE DOUBLE TOP BUY SIGNAL ON P&F..50 1/2 THE TRIGGER LONG, 47 1/4 THE SS.. 3...CIEN---OFF THE BOTTOM OF A VERY WEAK CHART...40 1/4 THE BUY TRIGGER R AT 43...37 1/2 THE SS..35 THE BOTTOM 34 IS NOT VERY GOOD.. 4...QCOM---TRAPPED IN A TRADING RANGE BECAUSE OF THE CHINA SYNDROME...49 THE BUY TRIGGER..R AT 51/52...46 1/2 THE SS.. 5...CMVT---DCB HERE...R AT 53/54...200EMA15 OVERHEAD AT 55..54 1/4 THE BUY TRIGGER..52 THE SS.. 6...NVDA---PERFECT BOUNCE OFF THE BSL LINE...RIGHT UP TO R AT MY FIRST TARGET AT 63...MORE R AT 65...64 THE BUY TRIG...61 1/4 THE SS WITH A POSSIBLE TRIP BACK TO 55/56... 7...VRSN---JUST GOT STARTED LATE YESTERDAY AFTER SITTING THERE LIKE DEAD MONEY ALL DAY...35 THE BUY TRIGGER..32 3/4 THE SS...IF THE MARKET ROLLS OVER HERE IT COULD TEST 26/27 AGAIN... 8...BEAS---DCB OFF THE BOTTOM OF THE CHART...WE LIKE TO TRADE THS STOCK...28 1/2 THE BUY TIGGER...26 1/4 THE SHORT SALE... 9...MERQ---DCB RIGHT TO R...40 THE BUY TRIGGER 43/44 MORE R THERE..37 1/2 THE SS AND COULD MOVE A LOT LOWER FAST... 10...HGSI--DCB BUT IN A BULLISH TRIANGLE ON THE CHART...45 1/4 THE BUY TRIGGER..47/48 IS THE NEXT R...43 1/4 THE SS.. I WILL CHANGE THE ROOM ADMIN NUMBER AND PASSWORD ON SUNDAY NIGHT... AND OF COURSE THE ROOM SHOULD STAY OPEN FOR ALL THAT WISH TO BE TOGETHER...A PLACE I'LL DROP INTO FROM TIME TO TIME WHEN I CAN... BEST TO ALL SEE YOU IN THE ROOM JERRY Jerry Olson Master Class Trader buyitbuyitsellitsellit.com