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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 (1585)	9/8/2002 12:45:24 PM
From: Jerry Olson	Read Replies (1) \| Respond to of 1854

HERE'S THE NEWSLETTER DATED 8-25 THE PULLBACK SURE CAME WITH A VENGENCE AS EXPECTED AND I ENTERED WAY TOO SOON...I'M TELLING PEOPLE TO "WAIT" FOR THE REVERSAL BACK UP???..WISH I LISTENED TO MYSELF<vbg>...HECK THERE'S BEEN NO REVERSAL BACK UP YET???...OH WELL SUCH IS LIFE...YOU WIN SOME & LOSE SOME...GAVE BACK 50% OF MY PROFITS FROM JULY 24TH LOWS...DAMN!!!..WILL SCALP FOR NOW RIGHT THRU OCT... GOOD LUCK OUT THERE AND BE CAREFUL... $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ JERRY OLSON'S "POINT" OF VIEW NEWSLETTER DATED AUGUST 26TH 2002 "BUY THE COMING DIP" CAREFULLY! Hi there everyone...hope this letter finds you and yours in fine spirits and great health. Hey we had some fabulous rally huh?..Gosh and gee whiz, i made a TON of money holding positions thru this run up sold everything, and began to re buy on Fridays decline...While i suspect we will pullback some more this week, i will BUY THIS DIP, and use traiing stops to protect me if the markets tank for what ever the reason...All indicators are green for GO on P&F, and i could care less what anyone else says or thinks here...I trust it and know it will work...But i am not stupid either<G>..i will protect my recent large gains using large traing stops, maybe 8-10% of the stock price...I knew we were due for this pullback, heck nothing moves up or down in a straight line...So be cool, and begin to leg into positions for the next best short term pop... I think if we can get past Sept 11th unscathed we could really surpise to the upside..I also think the eco numbers will look a bit better after contracting the last few readings. This by itself could be a big positive for the market..All in all i am short term bullish, but i have my one GOOD EYE always open for surprises<VBG>...The charts of all the indexs look so terrific here short term, and so do the sector charts BP's..Then we have those bottom fish type plays starting to give buy signals and we have reversed back up on almost every Bullish Percent chart..Well what can i say... What is even more important is the RS(Relative Strength) on the indexs, sectors and stocks are giving buy signals too, and these are longer term signals, they move very very slow...so a very exciting situation here as we move thru the worst time seasonality wise, Sept & Oct..do not fall in love here..trail up stops, let those winners run up, and then once you get stopped out or sell outright, we'll be looking to short heavily for Macro Cycle Lows coming...You should not be getting too euphoric or biased...Me? i can't help myself hahahahahaha..hey i've been here, and done that, before many times..it can destroy you, and kill you too<g>...be cool, be smart, and stay relaxed trading the game plan..so far so good right??? RIGHT NOW I AM THINKING WE'LL PULLBACK A BIT MORE THIS WEEK TO RELIEVE THE EXCESSIVE RALLY HERE OFF THE JULY 24TH LOWS...BUT I DOUBT WE BREAK DOWN NOW...It is very important that your trading calmly and with a focused attack duriung this time frame...Stocks and indexs are going to pullback to give you better entry to buy and go long for a short run..I am already long a lot of stocks..I'll post them and all of my entires below...I'll post the ETF's i think you shoud be buying on this dip as well...I love those Holders and IShares...Btw do not cover your longs yet, let them run up here before you sell options against them(Covered Calls)..and also..just a thought...if you finally get even on a trade? sell that stock immediately that you've held for so long...yes that;s right sell it...You'll need a brand new game plan for the next 2-3 years so i'd like you to start fresh... i did a lot of FIBO retrace numbers on all the indexs...and will report them as we go thru each one...before that here's a list of stocks i like and own and there entry prices...as you'll see i am underwater in most.. CCMP---1/2 POSITON AT 44.60 WILL BUY IT ON A REVERSAL BACK UP...STOCK AND INDEXS... MO---1/2 POSITION AT 47.78 AND WILL HIT THIS ONE HARD AS IT REVERSES BACK UP...I LIKE THIS STOCK KLAC---37.79 BROKE THAT TRIPLE TOP..WILL HOLD... MSFT---52.57 AMAZING CHART HERE..WILL DOUBLE DOWN ON ANY MEANING FULL PULLBACK.. RYL--- 46.30---I LOVE THE CHART AND THE SECTOR AGAIN.. BZH---68.85---SAME O SAME O AS ABOVE..LOVE THE HOME BUILDERS... HGSI---18.50 AM HOLDING ALL THE WAY.. FRX--74..WHAT A CHART..LOOKING OFR A BIG MOVE IN THE DRUG SECTOR... CEPH---LONG AT 48.60---THIS CHART IS EXCELLENT... NOW AS WE MOVE THRU MY COMENTARY BELOW PLEASE DOUBLE CHECK THE STOCKS AND ETF'S I AM GOING TO BUY ON THIS PULLBACK...I WILL HAVE A FULL 50% OF TRADABLE SIDELINE CAPITAL IN HERE AT SOME POINT ...SOON... LET'S DO ALL THE INDEXS... DJIA---THIS INDEX MADE IT'S FIRST ATTEMPT THRU THAT DREADED BEARISH RESISTANCE LINE THE BRL..HIT 9050 COMPLETING A BULLISH CATAPULT ON P&F..VERY VERY SOLID...WE HAVE ALREADY REVERSED BACK DOWN HERE AT 8850...8750 IS A DOUBLE BOTTOM BREAK WHICH WOULD START A SHAKEOUT PATTERN FOR THE WEAK HANDS OUT THERE..EITHER WAY I AM BUYING THIS DIP...9100 IS THE NEXT BIG BREAKOUT AREA..AND 9400 THE 1ST TARGET..I'LL HOLD OFF ON THE NEXT ONE UP I DON;T WANT TO SCARE THE BEARS OUT THERE<VBG>...8700 IS GOOD SUPPORT(S) ON THE DAILY CANDLE CHART(DCC).. NASD---THIS INDEX HIT MY UPSIDE 1ST TARGET RIGHT ON THE NOSE AT 1420..AND REVERSED BACK DOWN HERE...IT'S SITTING RIGHT IN THE MIDDLE OF THE 10 WEEK TRADING BAND..IT COULD RETREAT TO ABOUT 1340 A GOOD FIBO RETRACE AREA AND THE RISING 20 EMA ON THE DCC...WHAT WITH THE OTC BULLISH PERCENT(BP) IN A COLUMN OF X'S AT 34.50% IT HAS LARGE ROOM TO THE UPSIDE HERE..WHATS EVEN MORE ENCOURAGING IS THAT THE INDEX REVERSED UP FROM BELOW 30%...AND HELD THE HOSTRICAL BOTTOM AT 22/24%...I LOVE THE BIG CAP NAZ STOCKS...AND ALL THAT NEGATIVE NOISE TOO... SOX---IT SHOULD HAVE A 3 BOX REVERSAL BACK DOWN HERE AT 330 AFTER HITTING VERY TOUGH O/H OVERHEAD R(RESISTANCE) AT 360/65 AREA..THE SEMIS WILL BOUNCE HERE...THE BP HAS REVERSED BACK UP TO BULL CONFIRMED STATUS..AND MANY SEMIS HAVE BROKEN OUT AS BOTTOM FISH TRADES..TYPICALLY THEY PULLBACK FIRST THEN EXPLODE UP AND OVER THE RECENT TOP PRINT HOD... NDX---SIMILAR CHART TO THE NASD...HIT A WALL AT 1050 BUT SHOWED GOOD SOLID RS ON THE WAY UP...IT ALREADY PULLED BACK 4 BOXES HERE TO 1010..980 IS THE 38% RETRACE FIBO NUMBER..LET'S WATCH IT TO SEE IF IT REVERSES BACK UP THERE...THE RISING 20 EMA IS RIGHT THERE TOO..980.. SPX---BREAKS THE TRIPLE TOP AS WRITTEN AT 930 AND RUNS RIGHT UP TO 960 FAST WITH POWER...930 THE 3 BOX DOWN, BUT 900 LOOKS LIKE A GOOD NUMBER TO ME HERE..THIS IS NEARER TO THE BREAKOUT AREA... VIX---SETTING UP NICELY ON THE P&F CHART...IT DID CRASH AND BURN AS STATED HERE AND ELSEWHERE..THE NON BELIEVERS, COULD NOT BELIEVE IT<VBG>...SO NOW I SEE IT BREAKING A DT AT 35 AND RUNNING UP AS THE MARKET PULLS BACK THE VIX WILL RUN UP TOWARD 39/40 AREA...THATS O/H R...IF I'M RIGHT HERE, IT WILL THEN ROLL OVER AND DOWN AND THEN BREAK THE TRIPLE BOTTOMN AT 30..A BIG BIG BREAKDOWN, AND A LARGE PUSH UP FOR THE DOW...YOU COULD BUY THE DOW DIAMONDS THE DIA'S ON THAT VIX REVERSAL DOWN... VXN---READY TO POP HERE AT 50 FOR A RUN UP AND INTO O/H R AT 56/57 AREA..AFTER HOLDING THE BOTTOM AT 45..WHEN IT ROLLS OVER IT WILL CRASH AND BURN TO TEST THE LOWS??? AT 37..NAH!!!!! SMH--RAN FROM 23 TO 29 STRAIGHT UP...26 IS THE 3 BOX REVERSAL BACK DOWN..I'LL BUY IT THERE OR AROUND 25ISH...FOR A POTENTIAL RUN UP AND TO 35... BTK---AFTER TANKING AND BREAKING 3 CONSECUTIVE TRIPLE BOTTOMS THIS YEAR, IT'S PUT TOGETHER A FABULOUS RUN UP HERE..AND "WE" ALL TOOK FULL ADVANTAGE OF THIS LAST RUN...I SURE DID...IT TOUCHED 400, 370 THE NORMAL 3 BOX DOWN, 360 IS THE 20 EMA DCC...A VERY NICE DEVELOPING CHART PATTERN.. BBH--YA GOTTA LOVE THIS ONE...AND IF YOU HAVE NOT TRADED IT..YOU BETTER...WHAT CAN I SAY?..FROM THE LOWS WHEN WE SPOTTED IT AT 68 IT TOUCHED 93????? LAST WEEK!!!!!!..I WAS IN THIS INDEX 5 TIMES..WISH I JUST HELD THE DAMN THING<G>?....IT'S ROLLING OVER AND DOWN NOW, WATCH 84/85 AREA TO BUY IT THERE...IT MAY NOT GET THERE... OK LET'S DO THE STOCKS WE LOVE TO TRADE...YOU ALREADY KNOW WHAT I'M LONG AS OF NOW...I'LL TALK ABOUT THOSE AND OTHERS I WANT TO GO LONG HERE THIS WEEK.... MSFT---ANY 3 BOX REVERSAL DOWN HERE AT 50-49 I WOULD BUY IT THERE....THAT 3 STICK PATTERN ON THE DCC IS AN ABANDONED BABY..BEARISH SHORT TERM...WAIT FOR THE PULLBACK..I'M IN TOO EARLY HERE AND MAY EXIT ON MONDAY BREAKEVEN OR FOR A SMALL LOSS.....49/50 WOULD BE MUCH BETTER FOR AN ENTRY...53.25 THE BUY TRIGGER LONG(BTL)...51.25 THE SHORT SALE TRIGGER... KLAC---BREAKS A TRIPLE TOP AND RUNS IN TO VERY HEAVY O/H R AT THE BRL LINE AND A DOUBLE TOP AREA..AND REVERSES DOWN HARD...I'M LONG HERE BUT WILL WAIT AND DOUBLE DOWN SINCE IT ALREADY SOLD OFF 4 BOXES...37.75 THE BTL...MUST TAKE OUT FRIDAYS HOD...36.50 THE SST... CCMP---JUST A FABULOUS CHART HERE ON P&F...BREAKS OUT AT THE SPREAD QUADRUPLE TOP AT 44 AND RUNS UP QUICKLY TO 50...IT'S REVERSED BACK DOWN NOW 5 BOXES OR 5 POINTS AND IS USING THE BRL LINE AS S...I AM LONG AS OF FRIDAY AT 44.60 AS CALLED IN THE REAL TIME TRADING ROOM LIVE...TOOK 1/2 LOT SIZE AND WILL ADD THE SECOND 1/2 LOT ON A REVERSAL BACK UP...THIS CHART IS AWESOME...46.30 THE BTL...44.15 THE SST... MO---I LONGED THIS ONE IN THE ROOM TOO ON FRIDAY AT 47.78..IT PULLED BACK HERE OFF THAT VERY SOLID RUN FROM 41 TO 52 THIS PAST MONTH..WILL LOOK TO ADD TO THIS ON ANY REVERSAL BACK UP AS I BOUGHT A 1/2 LOT...48.30 THE BTL...46.75 THE SST...THE STOCK GOT HIT LATE HARD ON LARGE VOLUME..NEGATIVE..I MAY DIVE OUT ALL TOGETHER...IT DID BREAK DOWN OUT OF A RISING WEDGE ON THE DCC...NOT GOOD... CEPH---MAJOR LEAGUE CHART PATTERN HERE..I AM LONG AT 48.60 BUT THE STOCK BROKE A TRIPLE TOP AT 49, WITH UPSIDE POTENTIAL OF SHORT TERM 52...I'LL BUY THE PULLBACK JUST UNDER 46...TO ADD TO MY POSITION...47.75 THE BUY TRIGGER LONG...45.90 THE SST... HSGI---THIS STOCK BROKE OUT NICELY ONLY TO PULLBACK WITH THE MARKET...I LOVE THE CHART..I AM LONG AT 18.50 AND WILL ADD ON ANY PULLBACK...16.50---17 IS NICE....17.90 THE BTL...16.70 THE SST... BZH---I AM LONG THIS STOCK, IT'S JUST REVERSED BACK DOWN HERE 3 BOXES TO 66..FABULOUS CHART & SECTOR...I AM UNDERWATER HERE BUT MAY EVEN ADD TO THIS ONE..WATCHING THE BREAKOUT OF 69...67.25 THE BTL...65.60 THE SST.. RYL---SAME THING HERE ON FRIDAY BOUGHT IT TOO HIGH...BUT IT DID BREAK THRU THE BRL ON A TRIPLE TOP..I'LL HOLD THIS ONE AND MAY ADD..45.15 THE BTL...43.10 THE SST.. FRX---HERE'S WHAT HAPPEN..I BOUGHT IT ON SOME SENSATIONAL NEWS AT 74 EARLY THIS WEEK..IT COLLAPSED THE VERY NEXT DAY DOWN TO 70/71, THEN EXPLODED RIGHT UP AND BROKE A SPREAD TRIPLE TOP AT 75..I AM NOT SELLING THIS ONE..THE DRUG SECTOR IS SLOW BUT SURE..SOLID...74.50 THE BTL...MUST TAKE OUT FIRDAYS HOD...72.75 THE SST... INTC---RAN INTO O/H R AT 19 1/2 FOR THE THIRD TIME...I AM BUYING THIS DIP LOOKING FOR IT TO BREAKOUT AT 20 VERY SOON...YOU MAY WISH TO TRY THE OCT 17 1/2 CALLS..WAIT FOR THE SOX REVERSAL THIS WEEK..BE CALM HERE...17-17.50 IS GOOD S...18.40 THE BTL...17.45 THE SST... AMGN---NICE CHART PATTERN LET'S SEE IF IT CAN HOLD UP HERE...IT HAS GREAT S AT 45...48.25 THE BTL...49 YOU STAY LONG THATS A DT BUY SIGNAL THERE...46.25 THE SST... IDPH--CAREFUL HERE THIS STOCK COULD BREAKDOWN..LET'S USE 42 AT THE SST AND THE DOUBLE BOTTOM SELL SIGNAL ON P&F...WAIT FOR IT...44.50 THE BTL... QLGC---RAN RIGHT UP AND INTO THE BRL AT THE DT(DOUBLE TOP)..IT'S PULLING BACK HERE...35.50 THE VERY GOOD SST...37.90 THE BTL... EBAY---WHEW! WHAT A TRADER..I HAD IT NICE AND SS LAST WEEK..MADE ZIP..THEN PLOP...OH WELL...61.15 THE BTL...59 THE SST... IBM---WHOA THIS ONE NEEDS A REST<G> I MADE SERIOUS MONEY ON THIS STOCK...I'LL BUY THE PULLBACK FOR DAMN SURE...79.25 THE SST...LOOKING FOR 77/78 AREA TO RE BUY...81.50 THE BTL.. JNJ---IT'S IN LIMBO HERE AS IT KEEPS BANGING UP AGAINST THE 200 EMA OVERHEAD ON THE DAILY CANDLE CHART(DCC)...53.80 THE SST...52 IS A SOILD RETRACE AREA...55.75 THE BTL... VAR---ANOTHER NICE DRUG CHART HERE..HAS BEEN NICKEL AND DIMIN EACH DAY WITHIN 1-3 POINTS GOING NOWHERE...YET...44.15 THE BTL AND A SPREAD TRIPLE TOP BREAKOUT..TAKE IT...42 THE SST...40 SHOULD HOLD UP.. CHKP---THIS CHART IS CRYING TO GO HIGHER...AFTER A NORMAL PULLBACK HERE I'LL TAKE IT LONG..IT BROKE UP AND OUT OF A BULLISH TRIANGLE AND TOUCHED THE BRL...AMAZING HOW TOUGH THAT DOWNTRENDLINE IS HUH??? GEE WHIZ...18 IS THE SST...19.25 THE SOLID BTL... DNA--- A BIG CAP BIO TECH..RAN UP AND INTO..YEPPERS YOU GUESSED IT THE BRL...35 THE SST..33 SHOULD HOLD...37 THE BTL..38 KEEPS YOU LONG IN THIS TRADE... PTEN--THIS OIL STOCK STILL LOOKS GOOD...26.95 THE BTL...24.75 THE SST... OK WE ARE IN THE MIDST OF A PULLBACK FROM A SHORT TERM OVERBOUGHT AREA HERE ON ALL CHART, STOCKS INDEXS ETC...WHEN IT STOPS AND RVERSES BACK UP AGAIN? GET IN TO THIS MARKET HARD, USING TRAILING STOPS...BE ALERT, BE READY..IF ANYTHING HAPPENS OUT OF THE ORDINARY...JUST CLOSE OUT ALL OF YOUR POSITIONS ASAP..WE ARE HEADING INTO 9/11 BUT I AM NOT GOING TO LET IT STOP ME FROM TRADING... BEST OF LUCK TO YOU ALL THIS WEEK... WARMEST REGARDS JERRY Jerry Olson MasterClassTraders.com jerry@masterclasstraders.com buyitbuyitsellitsellit.com