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Strategies & Market Trends : Effective Trading In Our Markets. Learn, then Earn -- Ignore unavailable to you. Want to Upgrade?

To: Jerry Olson who wrote (1107)	7/25/2002 8:00:00 AM
From: Jerry Olson	Read Replies (2) \| Respond to of 1854

THE 14TH....BTW MY COMMENTS TO MY SUBSCRIBERS HAS BEEN ALL MY SOURCES IN THE SEMIS HAVE BEEN SAYING THERE'S TROUBLE AHEAD...I REPORTED THAT INFO WEEKS AGO... $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ JERRY OLSON'S "POINT" OF VIEW NEWSLETTER DATED JULY 14TH 2002 GROWLING GRIZZLY'S GRIPPING FALL STREET Hello there my trading buddies, how goes it??? hope you and your families are all doing well... Speaking of well, we fell down that well last week huh?<G>...Unless you're daytrading, scalping and using stops in this market, you're going under rapidly..You already should be in all cash in your pension plans, your IRA's and all stock portfolio's...If you were a subscriber of mine or chat friend you knew the drill..As of now all I'm losing money in is our LEAPS and we still have time on them...If you wrote Covered Calls against those leaps your cost basis is very very low...For the 2004 5 stocks we hold, we'll buy the strikes at these lower levels and average right in the middle for the expected rebound off the Macro Cycle low dates in Oct, and then up and thru all of 2003...Right too Jan 2004.. Yes it will cost us a bit more money to invest..But invest we will...Right now there's a total disregard for anything positive, and until that changes we are in bad shape here..Sellers are everywhere, they are bailing out at or near the lows, as per usual..Unsophisticated investors always buy high and sell low..And especially at or near market bottoms...We are still forming that bottom as we speak..It will take some more capitulation for this to complete itself, and it's coming very soon in the scheme of things... As I look and scan thru my trusted Point & Figure Charts of the Indexes, the Bullish Percents etc..we are cascading lower and lower getting to levels that are certain Buys in the markets..These indicators will start to turn up almost all together, and we'll be off to the races all over again, as 'THE TRAIN LEAVES THE STATION" once more<VBG>..Folks you should have NO doubt about that either, because it will leave that station, and YOU better be on it...We'll need to identify those sectors moving up from deeply oversold areas so we can take advantage of this next best move... I am going to suggest "when" it happens, not "IF" it happens that we get used to trading and investing in ETF's and IShares...what a nice way to play the markets without trying to guess 1 -2 stocks by themselves..Instead you buy a group of stocks representing a certain sector like the SMH for the semis and the BBH of the Bio techs etc...when the time comes I'll list them all here for you and make suggestions on which to buy and how to diversify the whole investment plan... The reason I'm even talking about INVESTING is because the bottom is near...I am not calling it here as you know, but we must be ready and ahead of the maddening crowd..Why? because when it starts this market will explode.,.,.we need to be ON the train NOT IN FRONT OF IT<VBG>...and on it we shall be for sure...So clean up your portfolio's while you can, raise some much needed cash as we move toward Oct, and get ready to use leverage as best we can to make up for any losses we've all suffered along the way...Sure we'll be prudent, conservative, and resolute in our goals..but if your NOT in the game, then you can't hit a Home Run..Meaning? what goes down, comes up, & visa versa..We do not go in either direction in a straight line..As we moved up hard in the 90's so we're moving down in the 2000's for now. ...But that too will change, and everything will be hunky dory all over again..At the very least sell anything under 10 bucks, unless you've researched the company..and use that cash/capital to buy better stocks... The street is running on fear here..nothing else..they could care less about earnings, profits, revenues etc..They're scared to death that if they buy a stock, the company will come under indictment for some sham out there, accounting insider fraud you name it...So why buy anything here..and especially right now when it's front page news every single day!!!...They're sitting on a pile of cash waiting...waiting and still waiting...well at some point their going to have to put that cash to work..that's fine with us...So stay cool here...Trade em' like we call em'..the triggers work folks..my daytrading is really kicking here...and weekly numbers are very strong on my daily intraday calls in the room..While I do try to alert you via e-mail on some of my moves it's very difficult to be timely.. I only wish you'd at least try the room for 1 month...but anyway stay fast and loose, use stops..and relax... OK LET'S DO THE INDEXES...WHAT A LOUSY WEEK HUH? THEY JUST KEPT MOVING DOWN... DJIA...2 NICE HAMMERS ON THE WEEKLY CHART GET BLOWN AWAY EASILY...BY LAST WEEKS CARNAGE WE ARE "BELOW" THE 10 WEEK TRADING BAND ON P&F...LET'S LOOK FOR A BOUNCE SOMETIME THIS WEEK AS EARNINGS START ROLLING IN HERE...8900/9000 FIRST TARGET WITH 8100 MY ULTIMATE TARGET FOR NOW... NAZ/COMPX---IT BREAKS DOWN BELOW 1350 A BIG BREAK THERE...WE TOUCHED O/H R AT 1400 AND PULLED BACK A BIT BUT THIS NAZ INDEX HELD STRONG LAST WEEK...SO LET'S SEE IF EARNINGS CAN HELP IT...THE ACTUAL PRICE OBJECTIVE(PO) ON THE CHART IS 1160...UH OH....1280 IS THE BOT10WK... SOX---HELD THE BEST LAST WEEK..BOUNCED UP OFF THAT 340 NUMBER AND RALLIED NICELY...THIS INDEX HAS 3 CONSECUTIVE DOJI HAMMERS AND CLOSED WELL ON THE WEEK...THE BP SEMI HAS REVERSED BACK UP INTO BULL ALERT FROM DEEPLY O/S LEVELS AT 12% NOW AT 18%...AND THE BIG BOYS REPORT THIS WEEK..HANG ON TO YOUR HATS HERE... SPX---CURRENTLY THIS INDEX IS 110% O/S AT THE BOTTOM OF THE 10 WEEK..940 THE 3 BOX REVERSAL BACK UP...THE BP SPX IS STILL IN O/S AND FALLING...IN 2001 THE BOTTOM WAS 18% WE ARE AT 24% RIGHT NOW... NDX---ALSO DEEPLY O/S WITH 900 AT THE BOTTOM 10 WK...ALL THE MONTHLY CHARTS HAVE THESE PERFECT HEAD AND SHOULDERS PATTERNS..STOPPING RIGHT AT THE BOTTOMS...THAT COULD BE OK IF WE DO NOT BREAKDOWN FROM HERE SHORT TERM... VIX---THIS INDICATOR ALREADY REVERSED BACK DOWN FROM THAT BLAST UP LAST WEEK...IT LOOKS LIKE 32 IS THE NEXT DOWNSIDE TARGET..HOWEVER IF WE REALLY CAPITULATE THIS NEXT WEEK AND IT RALLIES BACK UP AND OVER 41/42 LOOKOUT BELOW...THERE'S 2 NICE DEADLY DOJI'S AT THE TOP OF THE DAILY CHART..POSITIVE FOR NOW.. VXN---BROKE RIGHT THRU THE TOP OF THE 10 WEEK AT 70...67 THE FIRST SIGN OF TROUBLE FOR THIS NDEX...IT COULD RUN DOWN TO 62, NOW THAT WOULD REALLY GIVE US A POP...WE'LL BE WATCHING VERY CLOSELY.. BTK---AMAZING P&F CHART FOLKS...4 CONSECUTIVE TRIPLE BOTTOM BREAKS IN A ROW..NEVER SAW THAT BEFORE<G>...CAN WE SAY WEAKEST LINK?..NEED 310 FIRST THEN 330... BBH---TOUCHED THE BOT10WK AT 66...WE COULD SEE 75/76 ON A GOOD RALLY...THIS INDEX IS STILL A SHORT UNLESS WE GET A BUY SIGNAL AT 78... SMH--THE DAILY--WEEKLY---MONTHLY ALL AT SUPPORT...I AM LONG THIS INDEX AT 29.33, AND BOUGHT IT AT LAST WEEK FOR A DAYTRADE AT 27.43 AND SOLD IT FOR $1.40 PROFIT, NOW BACK IN IT...31 IS THE FIRST GOOD SIGNAL THERE... OK HERE'S OUR WATCH LIST OF STOCKS TO TRADE...WE HAVE HAD A TON OF INTRADAY VOLATILITY..I SUGGEST YOU USE HARD STOPS AT BREAKEVEN AS SOON AS YOU CAN, AND THEN TAKE THE MONEY AND RUN AT OR NEAR $.50 CENTS EVEN $.40..IF YOU CAN GET HIGHER THEN SELL IT ON THE WAY "UP"..FORGET GREED HERE..YOU'LL LOSE YOUR PROFITS IN A FLASH...SELLERS ARE EVERYWHERE AND YOU'RE EXPOSED TO RUMORS AND NEWS EVERY MINUTE OF THE TRADING DAY...STAY VERY FAST AND LOOSE.. KLAC---IT RALLIED UP AN INTO THE DESCENDING 20 EMA DAILY ON FRIDAY...I'VE TRADED THIS FOR 3-4 DAYS NOW MAKING SERIOUS COIN...I AM LONG AT 43.21 FOR THE MOMENT...45 IS THE BUY TRIGGER LONG...42.90 IS THE SHORT SALE TRIGGER...I'LL ADJUST MY STOP ON MONDAY AM... EBAY---I AM PLAYING THIS ONE LIKE A FIDDLE, A FINE VIOLIN..MADE 3 TRADES LAST WEEK FOR VERY SOLID PROFITS..AM LONG IT AT 60.15 FOR THE 4TH TIME...THERE'S A HANGING MAN THERE ON THE DAILY CANDLE CHART WITH THIS STOCK MOVING INTO THE S&P 500 INDEX ON THE 19TH..I AM TRYING TO "HOLD" IT...62.20 THE BTL...60 THE SST...EBAY GAVE A BUY SIGNAL AT 61 ON P&F LAST WEEK... QLGC---FROM NOV/DEC OF LAST YEAR RIGHT TO THIS DATE QLGC HAS TRADED IN A VERY NARROW RANGE...CHECK IT OUT...THERE'S 3 NICE LOOKING STICKS ON THE WEEKLY CANDLE CHART...IT GAVE A BUY SIGNAL ON P&F AT 40 LAST WEEK..I AM LONG PRESENTLY AT 38.12 FOR MY 3RD ENTRY IN THIS STELLAR PERFORMER...40.75 THE BTL...38.35 THE SST...I MADE A $1.00 ON THIS ON FRIDAY.. EXPE---I TRADED THIS FOR .70 CENTS ON FRIDAY AS IT BROKE A DOUBLE TOP(DT)..IT RALLIED RIGHT UP AND INTO THE 20 EMA O/H HERE..MY STOP WAS 60.55 FROM MY ENTRY AT 59.85..WOULD LOVE TO DO THIS AGAIN<G> THIS STOCKS CHART IS DEVELOPING HERE...OH BTW FWIW..MY STOP WAS A PERFECT SST...60.95 THE BTL...58.70 THE SST... MSFT---LOTS GOING ON HERE AHEAD OF EPS THIS WEEK..THE STOCKS ACTING VERY WEAK..I GOT STOPPED OUT 3 TIMES AT BREAKEVEN...AND ONCE FOR A 70 CENT LOSS..I MAY TRY IT AGAIN...LONG..MARKET WILLING HERE..THE LOW 51'S SEEMS TO BE A GOOD SET UP...52.90 THE BTL...50.75 THE SST...ANY BREAK OF 49 IS VERY SERIOUS FOR THIS STOCK AND THE MARKETS IN GENERAL...I'LL TAKE THAT SST... NVDA---WE MADE 40 CENTS ON THIS ONE ON FRIDAY USING HARD STOPS...COULD HAVE MADE A BIT MORE TOO...NOT GREEDY FOLKS<G>...21 WAS THE DT BUY SIGNAL ON P&F...WE BOUGHT IT AT 20.20 AND SOLD IT AT 20.60...20.55 THE BTL...19.30 THE SST... INTU---IN A RISING WEDGE FOR MONTHS ON END...48.90 THE BTL...HEAVY O/H R AT 50 WITH 51 A TRIPLE TOP BREAKOUT...46.70 THE SST... BRCD---TRYING TO BREAKOUT AT 19 ON P&F..SOLID LOOKING CANDLE CHART..THEY'VE ALREADY GUIDED HIGHER..SOOO 19.10 THE BTL...21 IS R...17.60 THE SST... QCOM---AMAZING HOW I USED TO GET KILLED TRADING THIS STOCK WHILE AT PRISTINE<G> NO MORE I OWN IT<VBG>..MADE SOME VERY NICE MONEY FROM 27.03 PICKED UP 1.00 AND NOW AM LONG AT 27.40... INTC---BASE BUILDING HERE FOR EITHER A BIG RALLY OR A BIG FALL...THERE ARE 3 HAMMERS ON THE WEEKLIES SO SOME BUYERS ARE THERE AT LOWER NUMBERS..LIKE THE 17 AREA...18.55 IS THE BTL---19 1/2 THE DT..20 THE BREAKOUT...17.25 THE SST...16 IS REAL TROUBLE FOLKS... AMAT---IDENTICAL CHART LIKE INTC...RAN UP AND INTO THE BRL LINE AND IS ROLLING BACK DOWN HERE..17.50 IS THE 3BXRVDN...19.10 THE BTL...20 SERIOUS O/H R...21 A BLOWOUT NUMBER...17.75 THE SST...16.50 MUST HOLD... VSEA---THIS CHART IS DEVELOPING HERE..HELD THE BOTTOM AT 31 3 TIMES..TRYING TO RALLY AND POP AHEAD OF RAISED EPS GUIDANCE...GOOD LOOKING WEEKLY STICKS...35.50 THE BTL...R AT 36-37 38...39 IS PRETTY...34.05 THE SST...I LIKE THIS STOCK LONG... ERTS---THIS ONE IS LOOOKING A BIT WEAK RIGHT HERE...IT MUST MOVE UP AND OUT RIGHT NOW..OR IT'S A MAJOR LEAGUE SHORT...ROUNDING TOP FORMATION HERE, ALREADY GAVE A SELL SIGNAL ON P&F...RALLIED BACK UP LAST WEEK A BIT...64.75 THE BTL...66 HEAVY R THERE..67 BREAKOUT CITY...THE SHORTS WILL DIVE FOR COVER..."IF" IT HAPPENS...THIS STOCK MAYBE PRICED TO PERFECTION...62.75 THE SST...ANY BREAK OF 60 DIVE DIVE DIVE... BRCM---FINALLY GAVE A BOTTOM FISH BUY SIGNAL LAST WEEK...VERY NICE WEEKLY CHART PATTERN..AND THE DAILY LOOKS NICE TOO..EPS ON THE 17TH...COULD SURPRISE HERE...TRADED 1 1/2 TIMES IT'S NORMAL VOLUME ON FRIDAY...21 THE BTL...19.20 THE SST..WOULD LOVE TO SEE 18 TO 18 1/2 TO BUY THIS ON MONDAY... MEDI---VERY NICE WEEKLY STICK WITH VOLUME...HAMMER THERE...25 THE BTL...AND KEEPS IT MOVING UP...23.50 THE SST... GILD--HELD 27 TWICE TRYING TO MOVE UP HERE...29.75 THE BTL...WAIT FOR IT...28.10 THE SST...ANY BREAK OF 27 HOLD THAT SS.. IDPH---THE BIO CHARTS ARE STARTING TO SHAPE UP HERE..THIS ONE HAS 3 CONSECUTIVE WEEKLIES LOOKING BETTER AND BETTER WITH RISING VOLUME...37.35 THE BTL..ALREADY BROKE A DT ON P&F...39 CLEARS ALL NEAR TERM R...35.40 THE SST...34 WOULD BE A NORMAL 3BXRVDN..I LIKE THIS STOCK AND CHART.. IBM--ALREADY WARNED & HAS EPS ON THE 17TH...BASE BUILDING HERE ON P&F...RIGHT UNDER THE 20 EMA DAILY...70.25 THE BTL...73 HEAVY R THERE..74 BIG TIME BREAKOUT...68.20 THE SST...66 IS DEATH AND DESTRUCTION... MU---THIS STOCK HELD AN ALL IMPORTANT LOW AT 16 ---16 1/2....IT HAS 3 CONSECUTIVE STICKS ON THE WEEKLY THAT ARE RISING...MUST OVERCOME A DOJI ON THE DAILY HERE...24.25 THE BTL..WAIT FOR IT PLEASE...22.90 THE SST... CSCO---HELD 12 1/2 3 TIMES AND JUST GAVE IT;S FIRST BUY SIGNAL OFF THE BOTTOM AT 14.50 PLENTY OF O/H R COMING UP HERE THO...THE WEEKLY LOOKS GOOD HERE...DAILY HAS THAT BIG DOJI TO OVER COME THO...15 THE BTL...13.90 THE SST... OK EVERYONE, THATS IT FOR THIS WEEK...IT SHOULD BE ONE WILD AND WOOLY ONE DURING OPTIONS EXP WEEK, & EPS FROM THE BIG BOYS..OH WOW..OPPORTUNITY KNOCKS EACH AND EVERYDAY... IF ANYONE WANTS TO JOIN ME IN OUR ONLINE TRAINING CLASS THIS WEEK..PLEASE CONTACT ME AT JERRY@MASTERCLASSTRADERS.COM..FEE IS $750 FOR 10 HOURS STARTING WEDS...I WILL NOT BE IN TOWN ON THURS...HAVE A BUSINESS APPT IN NYC... HAVE A GREAT TRADING WEEK ALL.. WARMEST REGARDS JERRY