Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Trading with Jerry Olson(OJ) -- Ignore unavailable to you. Want to Upgrade?

To: Jerry Olson who wrote (1053)	5/18/2003 1:22:23 PM
From: Jerry Olson	Read Replies (2) \| Respond to of 1617

My newsletter from 2 weeks ago to the troops. =========================================================== JERRY OLSON'S "POINT" OF VIEW NEWSLETTER DATED MAY 4TH 2003 "RAMPANT BULLISH SENTIMENT" Hi everyone, hope your weekend has been as nice as mine..we are shopping for the new house, and fixing up the one we're selling..if you know of anyone moving to Philly within the next 6 months please let us know...Our house will be on the market for about $895,000...We have pictures of it and I'm putting together an information package telling all the contents and pertinent info for anyone that wishes to read and view it. I'll have it up on the web soon. Well I thought we were going to get a small pullback? Gosh was that it? lol....I don't think so, but far be it for me and you to sit idlely by and not trade this amazing move up..There are NO sellers so far. There are only dip buyers and rampant bullishness every where...We still have a ton of juice out there to push this a lot higher..But a correction could happen at any time here... Each and every bit of bad news is being bought. Why you ask? because the markets are forward looking that's why...The street is ignoring all this past bad news and thinking things will get better...OK if that's what they think heck I'm not going to change that. In fact none of us can do a damn thing except trade it "their" way...I'm not fighting this folks..you? Let the Mystic Merlins predict, not me and not you...There is a good chance we'll top out soon, when? I have no clue...the Bullish Percents are getting up there but they look so strong right now...Let's just go with the flow..If we're smart in this type of market we can hold with stops, scalp longs, not thinking shorts here as there's not ONE indicator to tell me to think that way..So I should jump in front of this monster train flying at 100 miles an hour? no way Jose'...You're not either.. I can tell you this much my friends, our real time room has been cooking with gas almost each and every day...we have called this markets move correctly and have bought all dips so far for daytrades..I wanted to take a moment and talk about my stock triggers that are posted in the room and sent to you each day...If a stock triggers a long, and the futures are moving up after say 15 minutes of the open you can take that trade using the 10 o'clock rule if that stock and the futures continue up...do not worry about a hard reversal i'll be calling it when I see it...but it's very important NOT TO WAIT FOR ME TO ENTER THOSE TRADES..I AM "NOT" TAKING EVERY TRIGGER...That is NOT how I trade..I like 1-2 stocks with large lot size to make money..I do not want to baby sit 5-6-7 positions..it's the exact wrong way to trade.. I know there are frustrated room members, that are not following my rules..asking me why I did this or that..After a stock triggers it's difficult when they are already up large to say go ahead and dive in...so I say this "could" be o.k., or yes that looks fine to me...I worry about chasing at lofty levels as do all of you... Some trades like SNDK and JNPR and NVDA etc could have been RE TRADED DURING THE DAY...So if you like the stock and are thinking about going long let's say..and I say yes it looks fine, TAKE THE TRADE...let's not mince words..do it...I was in all 3 of those stocks on Friday and did very well...I am still long JNPR here...10.86...this was MY DECISION TO HOLD...Loved my entry...WHERE WERE YOU THEN?, HOW ABOUT NVDA AT 14.75? IT HIT 16 FOLKS? WHAT CAN I SAY?..THE TRIGGERS WORK, TRADE THEM AND RELAX...BUT PLEASE USE THE 1 STOCK 1 TRADE RULE...MAKE YOUR FIRST TRADE A GOOD ONE AND THEN LOOK FOR ANOTHER TO MAKE A DAYS PAY...YES I AM HOLLERING HERE THAT'S WHY THE CAPS<VBG>... I think it's so important to watch the days trend, and not to worry about chasing some of the solid powerful stocks during the day..we all see them..even though I am saying this, we all hate to chase..but it can be done on solid pullbacks to the RISING 20 EMA 5 MINUTE CHART..USE IT FOLKS...THIS REALLY WORKS...Look I want all of us to be successful, trading for a living, because we love it so much..Some of you just may not be cut out for this...If you're having emotional problems, if you are scared to enter a trade, if your on a losing streak..STOP AND REST UP FOR A FEW DAYS, REFRESH YOURSELF...COME BACK IN AND GO FOR IT FULL BORE... Take the triggers using smaller size lots...scalp them for 60-90 days for 25-50 cents each, till you gain your confidence back...Confidence will make you, let you relax so you can trade this market skillfully..Those of us that are technical, mechanical traders do the best...we could care less about all the noise out there...forget it..stop looking ahead...look in front of your face ONLY!..Watch the charts...And trade with excitement..Get those juices flowing..Do not be downtrodden..Try to think positively..Many traders are going full bore here and doing excellent. Others are not..i'll help you in any way I can at any time.. I have a phone, I have e-mail we can p chat too..whatever it takes to settle you all down...Please do not lose that trading capital..without it you're completely out of the game forever... =============================================================================================== OK LET'S DO ALL THE INDEXES AND BULLISH PERCENTS TOO...MANY HAVE GIVEN BUY SIGNALS LAST WEEK... DJIA---LOOKS READY FOR A MAJOR MOVE UP HERE ON A BREAK OF 8600-8650..TARGET IF IT HAPPENS THIS WEEK WOULD BE 8850 THEN 9150...THE DOW BP(BULLISH PERCENT IS AT 56% IN A COLUMN OF X'S AND MOVING UP..TOPS OUT BETWEEN 66% TO 80%..WHEW! COMPX---STRAIGHT UP HERE ON A HIGH POLE...RIGHT FROM 1370 WE TOUCHED 1500 NICE MOVE HUH? WE PROJECT TO 1550 ON THE QCHARTS TOOL...WE RETRACE 61.8% ON THE RETRENCHMENT TOOL TO 1348. WE SHALL SEE... IF WE DO A 3/4 BOX REVERSAL BACK DOWN IT TAKES US TO 1460 AND IF I'M RIGHT 1550 SHOULD COME FIRST... SOX---345 VERY TOUGH O/H RESISTANCE(R)---OBVIOUSLY 350 IS A LARGE B/O FOR THIS INDEX...TARGET 385 A 100% PROJECTION ON QCHARTS...BP SEMIS IS AT 51.64% AND RISING...HAS A LONG LONG WAY TO GO UP STILL..TOPS OUT WELL ABOVE 70%... NDX---BROKE A TRIPLE TOP AT 1100, THEN PROVED IT AT A RUN TO 1130..SOME R AT 1150...BREAK 1160 AND IT COULD EXPLODE...1100 IS THE 3 BOX REVERSAL BACK DOWN(3BXRVDN)...BP NDX IS AT A DOUBLE TOP BUY AT 71% OVERBOUGHT, TOPS OUT AT 78-82%...THERE'S A 100% PROJECTION HERE TO 1195? HOLY COWSKI... BTK---OOOH I LOVE THIS INDEX..HIT MY FIRST PROJECTION TARGET LAST WEEK AT 387.00 ON THE NOSE..UNREAL HOW UNCANNY THESE QCHARTS PROJECTION, AND RETRENCHMENT TOOLS CAN BE...THIS INDEX MADE A HUGH BREAKOUT AT 370 AND SLAMMED RIGHT THRU THE BRL(BEARISH RESISTANCE LINE) AS WELL..VERY VERY BULLISH FOLKS...360 THE 3BXRVDN---HEAVY R AT 430...THATS NEAR THE 100% PROJECTION... BKX---SENSATIONAL DAILY CANDLE CHART(DCC)...LAST WEEK WAS VERY BULLISH FOR THIS INDEX...4 SIDEWAYS STICKS THEN A SOLID HAMMER ON FRIDAY LIFTING IT ABOVE ALL R...PROJECTS TO 842...790 THE 3BXRVDN... SPX---HIGHER LOWS AND HIGHER HIGHS, KEEPS BREAKING DOUBLE TOPS ON SHORTER AND SHORTER TURN AROUNDS...THE BP IS NOW AT 58% AND MOVING UP FAST...66-74% IS THE USUAL TOPPING AREA...PROJECTION TOOL TO 858 THE 100% AREA... SPM3--FUTURES--SPOOS AS WE CALL THEM...FABULOUS LOOKING DCC CHART LASTS WEEK...AND RALLIED UP HARD OFF A SOLID HAMMER...VERY BULLISH CHART PATTERN...THE 930 AREA WAS MY 1ST TARGET..MAYBE WE PULLBACK FIRST HERE WE'LL SEE...916 THE 3BXRVDN---896 IS A DOUBLE BOTTOM((DB) BREAKDOWN...936 CLEARS THIS INDEX OUT...FOR THE RUN TO 957.00... NQM3--NAZ FUTURES...ALSO A BULLISH PATTERN HERE...THIS PROJECTS TO 1207..GEEZ THAT'S HIGH HUH?...IT BROKE OUT AT 1120 AND HELD THIS AMAZING S(SUPPORT) AT 1020 TWICE...OBVIOUSLY 1010 WOULD BE NOT TOO GOOD FOLKS<G>... VIX---VXN---BOTH ARE DEEPLY OVERSOLD HERE AND COULD BOUNCE UP AT ANY TIME...LET'S WATCH FOR 3 BOX REVERSALS BACK UP FIRST...THE VIX AT 26..THE VXN AT 35...BOTH INDEXES ARE SHORT ALL RALLY INDEXES AS THEY WILL CORRECT UP HERE SOON...THEY ARE WAY TO OVERSOLD... ============================================================================================== HERE'S A QUICK LOOK AT THE MAIN BP'S FOR P&F.. NYSE-BP= AT 55.96% JUST BROKE A DOUBLE TOP...62%---74% IS THE USUAL TOPPING AREA OTC-BP----51.18% AND BROKE A DOUBLE TOP LAST WEEK TOO...60 IS THE TOP OUT AREA... OPTI--BP--THIS IS THE WHOLE WORLD OF OPTIONABLE STOCKS ON "BOTH" EXCHANGES...IT LEADS THE OTHER TWO...AT 58% IN A COL. OF X'S MOVING UP TOWARD TOPS AT 64-68%... ALL IN ALL A VERY SOLID BP PERCENTS HERE ON OUR MAIN INDICATORS..THE SHORT TERMS ARE ALL ABOVE 75-80% RIGHT HERE..NEGATIVE FOR ME...BUT THEY HAVE "NOT" REVERSED DOWN YET... WE PLAY THE HAND DEALT US AND CONTINUE ON THE LONG SIDE OF TRADES...SHORTS WILL COME..EVENTUALLY... =============================================================================================== HERE'S THE WATCH LIST OF STOCKS FOR THIS WEEK...EARNINGS SEASON IS ALL BUT OVER EXCEPT FOR CSCO TUES AFTER HOURS AND OF COURSE WE HAVE FOMC MEETING THAT DAY WITH THE ANNOUNCEMENT AT 2.15 EST IN THE AFTERNOON...WE'LL BE THERE IN THE ROOM FOR THAT IMPORTANT EVENT TO HELP ALL THE NEW TRADERS NOT TAKE ANY RISKS TILL IT'S OVER... JNPR---I OWN THIS NICE LOOKING STOCK AT 10.86 AND WILL HOLD IT THRU CSCO EARNINGS FOR A "SYMPATHY" TRADE...MAJOR BREAKOUT(B/0) OF A TRIANGLE THAT'S NOW A "BULLISH TRIANGLE)...11.50 THE BTL(BUY TRIGGER LONG)---10.85 THE SST...LOVE THIS CHART... NVDA---WE JUMPED ON THIS AT 14.75 JUST AHEAD OF THE BREAKOUT(B/O) AT 15..A TRIPLE TOP B/O...IT HIT 16 FOLKS ON FRIDAY..WHAT A TRADE..HOPE YOU GOT SOME...FANTASTIC DCC(DAILY CANDLE CHART) POP...16.25 THE BTL---15.50 THE SST---BRL(BEARISH RESISTANCE LINE) AT 17 AND THE TOP OF THE 10 WEEK TRADING BAND(10WK)... SNDK---STRAIGHT SHOT UP FROM 17 TO 25 ON SENSATIONAL EARNINGS...ON A HIGH POLE...25.95 THE BTL---15.20 THE SST...61.8% PROJECTION TO 27.80... BEAS---AT HEAVY R HERE FOLKS...HIT THE 100% PROJECTION AT NEAR 12 BUCKS AND IS AT A DT(DOUBLE TOP) AREA TOO...12.30 THE BTL---11.50 THE SST...NEEDS TO TAKE OUT 12 HARD WITH VOLUME...HAD A NICE STICK WITH VOL. ON FRIDAY A LOT OF BUYING... BRCM---IN A GOOD MARKET NEXT WEEK I THINK THIS STOCK BREAKS OUT AGAIN...EXCELLENT EPS THIS QUARTER...NICE GUIDANCE TOO..ALREADY PULLED BACK 3 BOXES AND IS SETTING UP FOR ANOTHER POP...19.35 THE BTL---18.50 THE SST..PROJECTS TO 22 AT 61.8%..NICE...I'LL BE LONG HERE...TAKE IT. DRIV---VERY POWERFUL CHART PATTERN HERE ON P&F...4 DAYS AGO ON THE DCC CHART IT MADE A DOJI AT THE TOP NEGATIVE..PULLED BACK FOR ONLY 2 DAYS AND HAMMERED..THEN? A BEAUTIFUL POP ON FRIDAY TO A DT HERE...17.60 THE BTL---16.80 THE SST...I LIKE THIS ONE LONG, TAKE IT.,.. ESRX---THIS STOCK BROKE A SERIOUS HEAVY R AREA AT 59..TOOK OUT ALLTHE SELLERS THERE FOR A LONG LONG TIME...IT NEARLY HIT 62...62.10 THE BTL---61.15 THE SST---NICE LONG STILL...GREAT SIDEWAYS LONG BASE. IMCLE---THEY TRIED TO KILL THIS STOCK AS IT BROKE A TRIPLE BOTTOM AT 15.50 AND TOUCHED A DOUBLE BOTTOM(DB) AND THE BULLISH SUPPORT LINE(BSL) THEN BOUNCED FROM 14.50 TO 21 STRAIGHT UP...21.40 THE BTL---20.65 THE SST--- KLAC---BROKE A TRIPLE TOP AT 41 AND LOOKS GREAT RIGHT HERE..BOUNCED OFF A HAMMER ON THURSDAY AND REALLY LOOKS NICE...42.45 THE BTL---41.75 THE SST---TAKE IT LONG IF THE SOX IS ROLLING... QLGC---EXCELLENT LOOKING DCC AND P&F CHARTS...44.80 THE BTL---43.85 THE SST---45 IS A LARGE B/O 46 CLEARS IT ALL OUT...TAKE IT LONG... MERQ---SITTING AND CONSOLIDATING...NEEDS TO MOVE ONE WAY OR THE OTHER...34.65 THE BTL---33.75 THE SST... OVTI---MENTIONED THIS ONE 2 DAYS AGO..FABULOUS CHART PATTERNS HERE FOLKS...HAS A CUP FORMATION DCC...READY TO B/O HARD MARKET WILLING...26.65 THE BTL---25.70 THE SST---TAKE THIS ONE LONG... SEBL---HEAVY BUYING THRUSDAY AND FRIDAY LARGE VOLUME...10 THE BTL---9.35 THE SST..TAKE THIS LONG ON THE BIG B/O AT 10... ZRAN---IN A FLAG FORMATION ON THE DCC CHART...PROBLEM IS WITH THE P&F CHART IT'S ON A LARGE HIGH POLE...18.05 THE BTL---17.05 THE SST---CAREFUL HERE..BUT IF IT BREAKS THIS FLAG IT WILL MOVE HIGHER... YHOO---THEY CANNOT BREAK AMZN EBAY OR YHOO..THE INETS ARE RULING THE ROOST... ALMOST ALL OF THEM...25.45 THE BTL---24.80 THE SST...VERY NICE 3 STICK PATTERN DCC... CY---WHAT CAN I SAY OLD GUY BRINGS IT TO THE ROOM AND WE DIVE ON IT AT THE B/O AT 10..IT HIT 11.15 ON THE RUN ON GIGANTIC VOLUME..SENSATIONAL FOR THE ROOM..I DID NOT TRADE IT BUT TOLD EVERYONE ELSE TO GRAB IT...ON THE B/O...10.95 THE BTL---10.25 THE SST... ELX---JUST DOING A BACKSIDE BOUNCE HERE UP INTO THE 20 EMA...21 THE BTL---20.20 THE SST..NEEDS 21 FOR THE 3BXRVUP...DOUBLE BOT AT 19 MUST HOLD 18.50 A SOLID SHORT THERE...COULD BE A GOOD SHORT... MRK---BROKE A DT AT 59...THEN 60 IS MORE R THERE..BUT 61 WOULD BE AWESOME HUGH CLEARANCE OVER THE HEAVY R...59.80 THE BTL---58.65THE SST...CHART LOOKS NICE... USAI---A BALLISTIC MISSILE ALONG WITH EXPE AND ROOM...UN REAL FOLKS...I HAVE A HORIZONTAL COUNT ON THIS STOCK TO 70...YES I SAID 70...BUT LETS NOT GET CRAZY HERE...LOL HAHAHAHAHA...P&F SAYS WE'RE ONLY GOING TO 56..SO LET'S USE THAT ONE...WHEW!!!...POWERFUL CHART OBVIOUSLY...35.50 THE BTL---34.50 THE SST...OVERBOUGHT HERE BUT HECK WHO KNOWS?.. ============================================================================================== OK THAT'S IT FOR THIS WEEK..WE HAVE THE CSCO AND FOMC TUES SHOULD BE INTERESTING...STAY LOOSE HERE..I KNOW WE ARE BIG TIME OVER BOUGHT BUT WE'LL TAKE IT ONE STEP AT A TIME... I LEFT THE PASSWORD THE SAME FOR THIS WEEK...choppy...admins your number is the same too... I WANTED TO THANK ALL THE PEOPLE THAT CONTRIBUTE DAILY TO THE ROOMS RECENT SUCCESS...ARI MY MAIN GUY, GEORGIE MY MAIN GUY, OLD GUY MY MAIN GUY, BOGEY ET ALL..ALL MY MAIN GUYS AND GIRLS... ONE THING THAT'S MAKING ME MAD...WE NEED REAL TIME IMPORTANT NEWS FILTERED INTO THE ROOM..I DO NOT WANT IT LATE AND CANNOT POST IT..I HAVE TOO MUCH ON MY PLATE...I WILL ONLY BE IN DURING THE FIRST 2 HOURS TOMORROW, THEN I HAVE TO GO TO ATLANTIC CITY FOR THE AFTER NOON.. ============================================================================================== HAVE A GREAT TRADING WEEK WARMEST REGARDS TO YOU AND YOUR FAMILIES.. JERRY jerry olson www.buyitbuyitsellitsellit.com jerry.olson@verizon.net