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

To: IQBAL LATIF who wrote (39367)	4/30/2001 12:41:09 PM
From: Jerry Olson	Respond to of 50167

Hi Ike,,things are looking fine right here....we'll have a pullback as the VIX gets oversold down to 23ish area... watch for that..SOX is at resistance at 680..700 breaks it out...here's the morning e-mail.. Good Evening everyone hope you had a nice restful weekend...i want to thank those that participated last week in the room, while i was under the weather..you all were great..many thanks...i have one more test on Monday at 11.00 thru 2.00pm...then we'll see..i feel a bit better as i write this e-mail.. Ok let's contemplate whats ahead for all of us...We have the FOMC on the 15 the of May, and based on the eco reports another .50 basis point rate cut is in the cards...Even tho the GDP came in at 2% which shocked the hell out of me and all of wall street(lower case letters) for thosE assholes<g>...It meant we are not quite in a recession as yet..albeit certain sectors are absolutely in a recession for sure...but as i mentioned late last week..many P&F sectors reversed UP on their charts.... So what do we think is the future move in the markets in general?... The DOW has been nothing short of spectacular, and is well on it 's way to 11,000 once more...The SPX is ready to breakout here...pretty amazing if you ask me...1270 is the breakout, 1280 some R there but lookout if we rock in to the FED... The SOX is right where it should be..in the middle...any break of 680 is a rocketship ride on the NAZ for sure...700 print would be awesome...not syaing we get there, but you know what???...We have had a slew of terrible news out there for months...my guess is this quarter may surprise to the upside...it always evens itself out bad and good..we are due for positive news..watch for it and let those winners ride...please trail your stops.... 2250 on the NAZ is the breakout number..if this happens just buy and hold with trailing stops...you will be able to hold over night as we are ending the earnings season, and warnings should abate shortly...I want to remind you though..that for the last few FOMC's we had a selloff about 2 weeks prior to the meeting and then a nice run up into the FED...so let's see what they want to do THIS TIME!!!!...be prepared... This coming Friday the 4th of May starts my sabatical, from everyday work..however, i feel it is of the utmost importance to stay on top of the current market conditions as we focus on the FED and more eco reports coming out this month...so i will try to send out these e-mails each day till i can't so it anymore..no definate on everyday mail, but certainly as much as i can for us all...i will be on top of any breaking news via my sources on anything that can aid us in our quest for better profits on down the road..as for the room, i'll be in and out, maybe not every day but when ever i can... I would appreciate it if everyone would "stick and stay" with this very smart group of traders in the room..folks it's working!!!! if it ain't broke don't try to fix it...things are going well everyday..just contribute to the cause..."CAUSE WE ALL NEED IT BAD"<VBG>... So it's up to you...i'll be in there swing hard when i can...i have this bullish bent right now...feeling frisky on the long side..but i will NOT stop doing what brung us to the dance...please everyone use STOPS!!!...SELLERS ARE OUT THERE JUST TESTING NOW..NOT IN FORCE...BUYERS RULE THESE MARKETS RIGHT NOW... OK LET'S DO THE TOP TRADERS FOR THIS WEEK.... 1...NVDA---82 IS HARD R(RESISTANCE) WATCH FOR A POTENTIAL PULLBACK OF THAT NUMBER UNLESS IT CAN BREAKOUT THERE...80 1/4 THE BUY TRIGGER...77 3/4 THE SHORT SALE.. 2...VRSN---RIGHT AT VERY HEAVY R...53.....54 IS THE TRRIPLE TOP BREAKOUT...USE TRAILING STOPS IF YOU GET LONG...53 1/2 THE BUY TRIG...50 3/4 THE SS...PLEASE SET ALERTS FOR THAT BREAKOUT... 3...CMVT---SOLID MIDDLE OF THE CHART RIGHT HERE...VERY TRADABLE AS WE ALL KNOW...71 1/2 THE BUY TRIGGER...74 R IS THERE..68 3/4 THE SS..WITH ANY PRINT OF 65 BAD NEWS... 4...OPWV---LOOKS LIKE IT'S READY TO POP, IF THE MARKET BEHAVES...34 3/4 THE BUY TRIGGER 36 THE DT(DOUBLE TOP) BUY SIGNAL SET ALERTS IF YOUR LONG TO STAY LONG...32 THE SS..WITH 30 A NO NO NO... 5...ADBE---VERY NICE SIDEWAYS CHART PATTERN HERE...COULD BE VERY VERY EXPLOSIVE...46 3/4 THE BUY TRIG...HEAVY HEAVY R AT 48...BUT 49 (SET ALERTS) IS A QUADRUPLE TOP BREAKOUT NUMBER...TARGET 56..THIS COULD BE A NICE OPTION TRADE FOR JUNE...MEANING BUY THE JUNE CALLS "IF"....44 1/2 THE SS...42 IS A BAD NUMBER... 6...SEBL---IN A P&F TRIANGLE HERE...HMMMMM WE LOVE TRIANGLES...BEAUTIFUL CHART OVERALL...46 3/4 THE BUY TRIGGER...48 THE DT...BUY AND HOLD NUMBER...R AT 54...44 1/4 THE SHORT SALE... 7...MUSE----IN A SPECTACULAR CHART PATTERN....IF CERTAIN NUMBERS CLICK I WILL BE LONG THIS STOCK HEAVY...44 3/4 THE BUY TRIGGER...47 THE DT BUY SIGNAL 52 1ST ATRGET WITH 60 THE NEXT...42 3/4 THE SS..39 DEATH AND DESTRUCTION(D&D)...SET ALERTS EACH WAY...I LEAN TOWARD THE BULLISH SENARIO...POWERFUL IF IT HAPPENS... 8...QCOM---HAS SOME S(SUPPORT) AT 56...THE BSL(BULLISH SUPPORT LINE) IS AT 52 AND SERIOUS SUPPORT AT 48...THIS STOCK IS PULLING BACK AFTER EPS AND THE USUAL WARNING ABOUT THE NEXT Q...57 1/.2 THE BUY TRIGGER...55 1/2 THE SS..EXPECT A SERIOUS BOUNCE AT THE BSL OF 52ISH...I WILL BE LONG THERE IF IT GETS THERE... 9...CIEN---DEEPLY OVERSOLD....51 1/2 THE BUY TRIGGER..IF IT CAN PRINT THT NUMBER WITHOUT TOUCHING 47..WATCH IT...COULD BOUNCE TO 59...THE 200 O/H(OVERHEAD) ON THE 15 MIN CHART...49 THE SS...MINOR S AT THESE LEVELS... 10...JNPR---WATCH THE DOWNTREND LINE HERE....56 1/2 THE BUY TRIGGER COULD IGNITE THIS STOCK LONG..."OR"...54 THE SS HITS 51 FAST...SET ALERTS EITHER WAY PLEASE... see you in the room tomarrow morning till about 11.. best of luck for the week.. regards to you all jer Jerry Olson Master Class Trader... buyitbuyitsellitsellit.com