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

To: Jerry Olson who wrote (39247)	4/23/2001 10:18:25 AM
From: Jerry Olson	Read Replies (1) \| Respond to of 50167

here's the morning e-mail..we are in a trend day down...holding all shorts. Hi everyone Hope your weekend was as nice as mine<G>...Arlene felt a bit better so we did meet Mike and Kathy and Mike's brother Willy, what a great guy he is... and Helen and Anatole(sp) met us as well..we had such a great time together..and we ate at Angelos...Hey the owner sat down with us too<G>...Food and wine was super good...just a fun nite overall.. Well this week we have a wealth of economic news comig out everyday to rile up the volitility even more<G>...here's the list.. 4/24 Semi book to bill...LAST WAS 0.77 4/25 Consumer confidence EST 114 LAST 117 4/25 Durable goods 0.5% LAST -0.02% 4/25 Oil and Gas numbers 313.3 MB 4/25 Existing homes sales... 5.18 4/26 Jobless claims 385,000 4/26 Emploment cost index EST 1.0% LAST 0.08% 4/27 GDP....2001 Q 1...EST 0.05%...LAST 1.0% as we all know the FED is on a tear cutting rates like mad...it looks like to me that things are a bit worse than we all thought..Layoffs are still in the pipeline, I still predict gasoline numbers nearing $2.00 this summer, and this Q and next Q will be very soft...But we do NOT fight the FED, not with my money or yours...so we play for the nice expected pullbacks till things change...one way or the other and buy those reversals back up...but the die is cast...Alan and co. will not let us fall any deeper into a recession than we already are, and i think it's too little too late anyway... Let's look at the indexs... DJIA---high pole here, 10,550 is the 3 box reversal down, 10350 is the new support...we will correct.. NAZ rallied to 2200 might get to 2300 we'll see..2050 the 3 box down..1950/2000 new support. SOX at or near heavy R at 680, 620 a normal retrace down..600 new support SPX---at or near heavy r at 1260/70...1220 the 3 box down move..1190 is now solid support. VIX interesting chart here...my guess is we'll see a pop back up to r at 30/31 then roll over and down and break 27 to plunge toward 23ish..where we'll be set up for a large correction...so make sure your aware of those numbers... Here's the top traders list for this week... 1...CHKP---BIG HIGH POLE HERE HIT THE BRL LINE(THIS IS THE BEARISH RESISTANCE(R) LINE) ON P&F IT'S THE DOWNTREND LINE...RIGHT ON THE MONEY AT 80...LOOKS LIKE A H&S FORMING ON THE 15 MIN CHART...76 3/4 THE BUY TRIGGER...74 1/4 THE SS..73 SOME S(SUPPORT) THERE.. 2...EMC---HIT SOME R AT 45...OFF A TRIPLE TOP BREAKOUT...44 1/4 THE SHORT SALE(SS)...46 1/4 THE BUY TRIGGER. 3...NTAP---SPREAD TRIPLE TOP BREAK AT 18 THEN IT HIT HEAVY R AT 24...22 1/2 THE SS...COULD SEE 18 AGAIN<G>...24 3/4 THE BUY TRIGGER 4...IVGN---BIO TECH BREAKOUT AT 59 ROCKED UP TO 68 AND HAS STARTED TO ROLL OVER AND DOWN HERE...JUST DID A BACKSIDE BOUNCE TO THE 40EMA15...62 1/4 THE SS...64 1/4 THE BUY WITH R AT 68 AGAIN.. 5...LLTC---BROKE ABOVE THE BRL LINE AND HIT SOME HEAVY R AT 52..49 1/4 THE SS WITH 44/.45 THE TARGET...51 1/2 THE BUY TRIG.. 6...IDTI---BROKE A QUADRUPLE TOP THRU HEAVY R...IF IT STARTS DOWN AGAIN FROM HERE IT MAY BE FORMING A H&S ...39 1/2 THE SS...41 1/2 THE BUY TRIG.. 7...QLGC---GIGANTIC HIGH POLE HERE...THIS IS A SOLID SHORT CANDIDATE...WITH A H&S TOP AS WELL...41 THE SS...43 1/2 THE BUY TRIG... 8...RIMM---TRIPLE TOP BREAKOUT AT 29 AND HIT 39, IT HAS ALREADY STARTED TO REVERSE DOWN HERE...35 1/4 THE SS 32 IS THE QUICK TRIP DOWN...IT'S AT GAP SUPPORT THERE...37 1/4 THE BUY TRIGGER. 9...VRTS---HIT 67 FROM 39 THIS MONTH, WHAT A RUN UP...66 1/4 THE SS..WITH A PRINT OF 64 MOVING IT LOWER...68 1/2 THE BUY TRIGGER...THIS STOCK SHOULD BE BOUGHT ON ANY PULLBACK, AND REVERSAL BACK UP... 10...VTSS---GORGEOUS DOJI TOP ON FRIDAY ON THE 15 MIN CHART...THIS STOCK IS A SHORT...33 3/4 THE SS TRIGGER...28/29 GAP S...36 EVEN, THE BUY TRIGGER... thanks to everyone for sending their checks or using paypal...i appreciate it a lot...Marketeye will be starting a newsletter shortly, and will be doing some moderating thru the next 2 weeks..I hope each of you will hang out in the room even when i am not there each day..i will take a rest, recuperate for a bit, and dive back in for sure.. I'll certainly up date via e-mail anything of importance that i get an alert on for sure...and of course i'll update everyone on Carpino too... I just wrote an article for Traders World magazine...they are looking it right now...I am also going to check out Wall Street to see if there's an interest in a trader like me...what the hell huh<VBG>...Arlene always wanted to move to Manhatten<G>...I would like to head up a group of heavy hitter daytraders as a trigger man...not trade but call all the shots...I think i would like to help those that need long term portfolios culled and restocked too...btw fwiw..i would definately sell any dogs with fleas right here..and take that money and either wait for a better set up to go long on a better stock or sector..no sense wishing and hoping..if it's dead, let it die already...maybe some of us can start a hedge fund??? i have been asked by several people...it could be interesting to say the least... anyway see you all in the room...i'll be there till about 10.30-11, then i am going to lunch at our fav resturant...i will not be in the room for the rest of the day...password is still marketeye... thanks for all the nice birthday wishes... best to you and yours from me and mine luv jer Jerry Olson Master Class Trader... buyitbuyitsellitsellit.com