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

To: Jerry Olson who wrote (3026)	8/3/2001 1:34:56 PM
From: Jerry Olson	Read Replies (1) \| Respond to of 5893

HERE'S THIS WEEKS NEWSLETTER FOR THE FOLKSIE'S OUT AND ABOUT.. HEADING TO DA BEACH..BEST TO ALL... JERRY OLSON'S "POINT" OF VIEW NEWSLETTER DATED AUGUST 1ST 2001 Well Hello Market<g>....I hope this letter finds all of you in the best of health and better spirits... I finally got my computer fixed and have added a back up system as well...so that this won't happen anymore.. this is newsletter renewal time as of the 1st of the month..please use my site..www.buyitbuyitsellitsellit.com as your gateway to renewal...using Paypal logo's all over the place<g>...you will now be automatically renewed for ever<G>...this is recurring billing at it's best<VBG>...if you decide to drop out, just e-mail Paypal and sign off..It's going to take a big burden off my shoulders... thank you for your continued wonderful support...it's greatly appreciated... Ok..well?..what a week huh?...As of the last update when i called the almost exact bottom last Wednesday at the close at 1165 SPX we have rallied almost straight up to the shock and dismay of all those bearish biased shorts out there..to 1223ish...not a bad call and not a bad run... I want to remind you, "DO NOT HAVE A BIAS AT ALL" IT WILL KILL YOU DEAD... if you continue to look at one side only your going to suffer the pain like at no other time in the markets...Use your head...WE HERE PLAY CABOOSE RIGHT??? WE "FOLLOW" THIS MARKET...THEY WANNA GO UP...SO DO WE..THEY WANNA GO DOWN?? HEY WHAT THE HECK..WE DO TOO...how many times have i said this ??? 1000???? Just make sure your listening, and following orders<VBG>....It just makes a world of sense to me..Who the hell are we???..just a group of traders, trying to make a buck...are WE? going to make the market move??? i don't think so???..so if we do not have that power...then we use our heads, our brains, our GOD given talent...he he he..We become PIGGY BACK RIDERS..yeah thats us...Ride em' Cowboy....Hey you gonna buck this trend??? it's suicide... DO NOT BUCK OR FIGHT THE TREND EVER..INTRADAY OR OTHERWISE..GOT THAT FOLKS??? YEAH YOU GOT IT ALRIGHT BECAUSE I HAVE BE POUNDING IT INTO YOU EVERY CHANCE I GET... NOW WHERE THE HELL ARE WE HEADED ANYWAY...HAHAHAHAHAHAHAHAHA..OHH I LOVE THE MARKETS...I REALLY DO... Let's look at all our favorite INdexs... DOW--DJIA---THIS INDEX HAS NOW MADE A HIGHER LOW, AND IS APPROCHING BREAKOUT TERRITORY...THE 3 BOX PULLBACK TO SET THIS UP IS 10,450/...THE BIG BREAKOUT IS 10,700 WITH 10,800 THE BEARISH RESISTANCE LINE TO STOP THIS TRAIN...BUT THE CHART PATTERN IS A BULLISH TRIANGLE HEADING NORTH(up)... NAZ--COMPX---2100 IS HARD R, BUT I THINK WE'LL BREAK THIS SHORTLY...2200 IS THE BUY SIGNAL AND BREAK OF THE DOWNTRENDLINE TOO THE BRL...VERY CONSTRUCTIVE...IT WILL HAPPEN...IT'S IN THE BAG???..HE HE HE... NDX---THIS INDEX LOOKS IDENTICAL TO THE NAZ...ONLY WORSE...IT'S IN A TIGHT TRADNG RANGE...1750 IS THE 3 BOX REVERSAL UP...1800 THE BRL..1850-1900 VERY POSITIVE BREAKOUT..PLEASE SET ALERTS...THE QQQ'S ARE DIRECTLY RELATED TO THIS INDEX... QQQ'S....44 IS HEAVY R..BUT 45-46 IS A BIG BREAKOUT...THIS INDEX HAS "NOT" BROKEN THE BRL LINE FOR ALONG LONG TIME...I THINK IT WILL DO JUST THAT...40 HEAVY SUPPORT... SOX---MY BABY...EVERYONE WAS SAYING EVERYWHERE "THE SOX SUX"..OOH MAN HOW WRONG THEY WERE HUH???..WE ALL KNEW DIFFERENTLY RIGHT???..I TOLD EVERYONE WITHIN EARHSHOT TO BUY THE SEMIS..THOSE THAT DID MADE BOOOKOOO BUCKS..THOSE THAT DID NOT..DID NOT...HEY WHAT CAN I SAY... NOW LISTEN UP HERE FOR A DANG MINUTE...THE SOX INDEX HAS BEEN IN A PROTRACTED DOWNTREND SINCE MID MAY TOP...IT BROKE THE BRL LINE AND GAVE A SOLID BUY SIGNAL ON P&F THIS WEEK...THE SMH BROKE A TRIPLE TOP AS WELL...THE SEMICONDUCTOR BULLISH PERCENT I ALWAYS TALK ABOUT WENT FROM BULL ALERT TO BULL CONFIRMED THIS LAST WEEK.,...SO IN OTHER WORDS..STAY LONG THE SEMIS FOR NOW..BUYING ANY MEANINGFUL PULLBACK TILL I SAY OTHERWISE... OTHERWISE...THE MERRILL UPGRADE WAS REDICULOUS TO SAY THE LEAST...PLEASE TRY TO UNDERSTAND WHAT I'M ABOUT TO SAY HERE...I AM A TRADER OF CHARTS..NOT NEWS, AND NOT NOISE...WHEN I SAY WE ARE MOVING UP, AND BUY THIS OR THAT IT'S A TRADING VEHICLE ONLY..WE ARE 'NOT" INVESTING YET!!!! WHY??? BECAUSE FOLKS MERRILL AND ALL THOSE ASSHOLES ON FALL STREET HAVE NO DAMN CLUE AS TO WHATS GOING ON HERE...THE SEMICONDUCTOR INDUSTRY IN IN THE TROWS OF THE WORST CYCLICAL DOWNTURN IN MODERN HISTORY..AND IT HAS 'NOT" ENDED.... YOU GOT THAT??? NOT NOT NOT NOT..ENDED...THERE ARE NO ORDERS TO SPEAK UP..NO NEW BUSINESS EITHER...NADA ZIP NOTHING...THIS RUNNUP IS THIN AIR BULLS***T...YOU GOT THAT???..LIKE I SAY ALL THE TIME..IF THE STREET SENTIMENT THINKS THIS IS TRUE, AND THEY WANNA BUY THE SEMIS..SO DO WE...ARE WE TAKING THEM HOME FOR EVER..NOT A CHANCE...WE'LL DUMP THEM AT THE TOP TO SOME OTHER DUDE/DUDETTE THATS LOOKING FOR SOMETHING TO HANG THEIR HAT ON TOO..NOT US...WE'LL BUY THESE STOCKS FOR REAL LATER THIS YEAR...NOT HERE..AND NOT NOW...OK??? YOU ALL UNDERSTAND??? I CAN BE AS BULLISH AS I WANT TO BE...BUT DUMB I'M NOT..EUPHORIC I AM NOT, STUPID I AM NOT..AND NEITHER ARE YOU...WHEN I GIVE THE "ALL" CLEAR FOR THE SEMIS..IT WILL BE FOR REAL..THIS IS PURE HYPE...MERRILL AND ALL THE OTHER ASSHOLES OUT THERE IN LA LA LAND, KNOW NOTHING...WHAT EVER THEIR AGENDA IS..WE ALL NOW UNDERSTAND IT..IT'S A BLATANT LIE...WE'LL TRADE IT BECAUSE I CAN READ THE CHARTS, INDEXS P&F CANDLESTICKS CARPINO WHATEVER..BUT OWN THEM???> NOT ON YOUR LIFE...NOT EVEN WITH YOUR MONEY...NUFF SAID HERE??? DO YOU ALL HAVE THIS PICTURE...DON;T GET COMPLACENT..DO NOT GET ONE SIDED BIAS...THIS IS NOT FOR REAL... SO WITH THE SOX--SMH--DWASEMI--BULLISH PERCENTS AND ALL THE FABULOUS CHARTS I AM SEEING AND READING..WE TRADE THE SAFEST SECTOR OUT THERE..THE SEMICONDUCTORS TILL THE COWS COME HOME...THEN WE KISS THEM ALL GOODBYE... VIX INDEX---MAN I CAN READ THIS LIKE TEA LEAVES IN A CUP...I MUST HAE SOME GYPSY IN ME<VBG>...THIS INDEX ALONG WITH EVERYTHING I LOOK AT IS PLAYING THE CURRENT TRENDS ALMOST TOO EASY...AMAZING...IT BANGS INTO THAT 28 TRIPLE TOP..NEVER BREAKS IT..REMEMBER I SAID IF IT PRINTS 29 LOOK OUT BELOW..BUT IT DIDN'T...IT ROLLED OVER AND DOWN AND IS FALLING FIERCELY LOWER STILL..JUST TERRIFIC...IT ACTUALLY GAVE A SELL SIGNAL TODAY AS IT BROKE THE DOUBLE BOTTOM..SETTING UP MORE UPSIDE IN THE MARKETS..I WONDER WHO REALLY UNDERSTANDS THIS SENARIO???...IT SHOULD TEST 21 ISH..IF IT BREAKS IT WE ARE GOING TO THE MOON FAST...HANG ON HERE... SPX---WHAT A WONDERFUL INDEX TO FOLLOW..WHAT WITH CARPINO USING IT..AND I'M TRACKING IT EACH DAY THRU DAILY CANDLESTICKS AND PERFECT READS ON P&F..WE SHOULD BE ABLE TO PUT ALL THIS TOGETHER TO TRADE LIKE THE PRO'S WE ARE...AS LONG AS YOU USE STOPS..AND CAN CONTROL YOUR EMOTIONS BETTER..YOU'LL BE FINE..TRY TO TRADE REALAXED..CALMLY...TRADE LOT SIZES YOU CAN LIVE WITH...ROME WASN';T BUILT IN A DAY FOLKS...HAVING "ANTS IN YOUR PANTS EVERYDAY" WILL MAKE YOU A LOSER...TRY TO CONTROL YOURSELF..YOU'LL BE FINE I PROMISE... THE SPX HITS THE DOUBLE BOTTOM LAST WEDS AT 1165ISH AND RALLIES STRAIGHT UP TO 1223..WHAT A BALLISTIC RUN UNDER THESE CURRENT CONDITIONS...AT THE SAME TIME..BOTH FUTURES CHARTS HAD SOLID HAMMERS THERE...I MEAN THERE WERE TELL TALE TAILS<VBG> AT EACH BOTTOM ON THOSE CHARTS..I COULDN'T BELIEVE MY EYES...DOUBLE BOTTOM SPX..AND HAMMERS ON THE FUTURES..OHH LA LA..JUST REMEBER THAT OK???..KEEP IT TUCKED AWAY FOR A RAINY DAY...AND HERE'S A SOBERING THOUGHT??...REVERSE THAT CHART AND WE BE SHORT LIKE THERE WAS NO TOMARROW...UPER WICKS AND TAILS AND A DOUBLE TOP..HE HE HE..WE'LL PROBABLY SEE THAT SOON... LET'S DO OUR FAVORITE STOCKS...MAN WHAT A LIST HUH... KLAC..HOLY COW??? IT BROKE A TRIPLE TOP AT 53 AND RAN STRAIGHT UP TO 59 TODAY..THINK ANY SHORTS GOT MURDERED???..WHOA!!! IT'S VERY OVERSOLD HERE...EXPECT A PULLBACK SOON TOWARD 53---54 AREA...58 1/2 THE BUY TRIGGER LONG...55 3/4 THE SHORT SALE TRIGGER... AMAT---IS RIGHT AT HEAVY R AT 49 THE BRL LINE...IT DID BREAK ABOVE 2 TIME FRAMES ON THE DAILY CANDLE CHART...THATS GOOD...49 1/2 THE BUY TRIGGER...47 1/4 THE SS TRIGGER... ALTR---IT HAD A TEST OF TOP TODAY AT 33...34 IS THE BREAKOUT NUMBER...THE BUY TRIGGER LONG IS 33 1/2...31 1/2 THE SS... ELNT---MY GOODNESS, WHAT A STOCK HUH???..I POUNDED THE TABLE FOR 2 WEEKS ON THIS ONE, DESPITE THE SELLOFF IN THE MARKETS BEFORE THIS RALLY..IT'S RELATIVE STRENGTH WAS AMAZING...WE TALKED ABOUT IT AT 29/30...WELL IT ABOVE ALL MVA'S ON THE DAILY NOW...IT'S ALSO OVER SOLD HERE...41 3/4 THE BUY TRIGGER...39 1/4 THE SS TRIGGER.. LLTX---THIS STOCK FREAKED ME OUT...I OWN THE AUG 25'S..I BOUGHT FAIRLY CHEAP 2-3 WEEKS AGO...NEVER SOLD THEM...GOOD GRIEF..I AM ALMOST IN THE MONEY<g>...BROKE A DT AT 22 HAS R AT 24, BUT COULD GET TO 29 IF I'M LUCKY...24 3/4 THE BUY TRIGGER..IT IS NOT OVERSOLD...22 3/4 THE SHORT SALE TRIGGER BRCD---IT'S RIGHT AT HEAVY R HERE AT 37...OH BUT...38 1/2 IS A MAJOR BREAKOUT BUY TRIGGER LONG...MAJOR...36 1/2 THE SHORT SALE TRIGGER..PLEASE SET YOUR ALERTS ON ALL BUY AND SELL TRIGGERS ON ALL STOCKS AND INDEXS... CSCO---BROKE OUT TODAY..A BIG POSITIVE FOR THE MARKETS MOVING FORWARD...BROKE THE BEARISH RESISNACE LINE(BRL) AT 20, AND GAVE A P&F BUY SIGNAL TOO...EARNINGS ON THE 7TH...HMMMM..CYCLE TOP ON THE 6TH??? HE HE HE..WATCH YOUR SELVES...21 THE BUY TRIGGER...19 3/4 THE SS.. EBAY---OK LISTEN UP...IT HAD ITS RUN PRIOR TO EARNINGS..AND IS LAGGING HERE AFTER THE NEWS...IT'S FORMED A TRIANGLE...HERE'S THE NUMBERS TO WATCH OUT FOR...EITHER SIDE...66 IS THE BUY SIGNAL...58 THE SELL SIGNAL...THIS WILL BE USED AS A CONTINUATION TRIGGER FOR US SWING TRADERS..HERE'S THE DAYTRADE TRIGGERS...62 3/4 THE BUY TRIGGER...60 1/2 THE SS TRIGGER... MYGN---BROKE A TRIPLE TOP AT 46 AND WENT TO 49 ANOTHER LOWER TOP...REVERSED BACK DOWN HERE...46 1/2 THE BUY TRIGGER..47 THE 3 BOX REVERSAL UP...50 THE BUY SIGNAL ON P&F...44 1/4 THE SELL SHORT TRIGGER... PDLI---LOOKS IDENTICAL TOO MYGN..WITH EARNINGS TOMARROW...55 3/4 THE BUY TRIGGER...53 3/4 THR SS TRIGGER.. HGSI---HEY GUESS WHAT..BOBBSIE TRIPLETS<G>..THEY ALL LOOK THE SAME HERE...WAIT FOR 53 FOR THE BUY TRIGGER LONG...50 3/4 THE SS... LET'S CHECK THE BTK HERE....HIT THE BRL LINE AND HAS STARTED TO ROLL OVER..520 IS THE CHANGE OF TREND DOWN...490 LOOKOUT BELOW... NVDA---HIT HEAVY R AT THE BRL LINE..MIGHT BE A NICE SHORT HERE WHEN WE SELLOFF...86 3/4 THE BUY TRIGGER...84 1/2 THE SS... QLGC-- A BOTTOM FISH PLAY HERE...BREAKS A DOUBLE TOP AS I CALLED IT ON SI..AT 41...JUST A DEAD CAT BOUNCE(DCB)...NOTHING MORE...42 3/4 THE BUY TRIGGER...40 1/2 THE SS... SEBL---JUST A DCB HERE ON THE CHARTS...37 1/4 THE BUY TRIGGER...35 1/4 THE SS... BRCM---BROKE A TRIPLE TOP AT 46...NICE DEVELOPING CHART...49 HEAVY R THERE...HELD A NICE DOUBLE BOTTOM AT 38...47 1/4 THE BUY TRIGGER LONG...45 1/4 THE SS TRIGGER.. QCOM---NICE PENNANT FORMATIONON THE DAILY CNADLE CHART...PERFECT BUY TRIGGER AT 66 1/4....SS AT 64 1/4..NICE SET UP EITHER WAY... CIEN---TRYING TO BASE BUILD HERE..THE SECTOR REVERSED UP INTO BULL ALERT STATUS ON P&F...36 3/4 THE BUY TRIGGER LONG...34 3/4 THE SHORT SALE TRIGGER... CHKP---AT HEAVY R NEAR THE BRL LINE....46 1/4 THE BUY TRIGGER...44 1/4 THE SHORT SALE TRIGGER... TQNT---IN A MAJOR BREAKOUT FORMATION HERE...26 THE BUY TRIGGER...24 THE SS... WELL THATS IT FOR TONIGHT..WE HAVE CYCLE HIGHS COMING FRIDAY INTO MONDAY..WITH CSCO REPORTING TUESDAY...SHOULD BE INTERESTING TO SAY THE LEAST.. PLEASE REMMEBER TO RENEW TONIGHT OR TOMARROW...AND THANKS AGAIN FOR YOUR SUPPORT.. I AM TAKING MY WIFE IN FOR AN EARLY MORNING TEST TOMARROW..SO WILL NOT BE AROUND... BEST TO YOU WARMEST REGARDS JER