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Strategies & Market Trends : Trade/Invest with Options Jerry a Point & Figure Chartist -- Ignore unavailable to you. Want to Upgrade?

To: Gersh Avery who wrote (2514)	6/15/2001 7:38:34 AM
From: Jerry Olson	Read Replies (1) \| Respond to of 5893

Hey Gersh actually it has been straight down<G> right from 1315 SPX??? with little blips up??? like bear flags<GGGGGG> i've been telling everyone that will listen to hedge all portfolio longs for 2 weeks now... like write Covered Calls..or buy puts on their long positions.. some have actually listened<G>...and are happy too... every chart i am looking at is breaking down here...triple bottom breaks...not good for the longs... the shorts are raking in the money..and should just trail stops down... whats very good, is that i am seeing the nice pullback i warned<g> about moving toward the middle of the P&F 10 week trading bands...albeit we are not done correcting.. the VIX bumped up against the 26 number, a double top..27 is a breakout buy..which sets up the markets for a nice rally later next week... we have a Carpino low on the 19th..but i think we'll crash thru that today...all c-band lows have been broken here..which means more downside to come... but it also sets us up for a major league rubber band technical rally...for now...we trade the trend...shorters dream....