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

To: Jerry Olson who wrote (1571)	7/17/2005 3:04:19 PM
From: Jerry Olson	Read Replies (1) \| Respond to of 1617

JERRY OLSON'S "POINT" OF VIEW NEWSLETTER DATED JULY 17TH 2005 "WE HAVE NOT SEEN THE HIGHS YET" Hello out there all my cybertrading friends. I hope this newsletter finds you all in good health and spirits. This latest move has been nothing short of a spectacular run off those April lows to right here and right now. Yes there have been shallow and short pullbacks but all of those are necessary to move higher from here. I can see plainly on the charts we have room to move up but we are already at nosebleed territory and at the "top of the 10 week trading band"(meaning 100% overbought) on almost every single index chart. What is correcting here somewhat is the small and mid cap area the RUT 2000 and the SML the Mid cap 600 index. But I can recommend you buy this pullback without a doubt. The futures too have begun a slow shallow correction, just watch the 20 period moving averages on the daily candle charts of all the indexes and you'll see what I am thinking as we move forward. I'll show you in the charts below where these areas exist for a nice bounce play going forward. While we are in earnings season and the numbers are really coming in ok for now the markets are truly feeling very good about what is happening everywhere. The real question is this, "Is it too good to be true"? Well you know me and how I think. If it's going along to one side or the other for "too long" then I become suspicious of the potential of that move becoming too one sided and usually people are going to get hurt trying to chase it to the top or the bottom. The markets become too skewed to one side or the other and then the rubber band effect shows up and slam bam thank you ma'am this thing snaps back the other way with such viciousness that it surprises the whole street. I am starting to get this feeling right now, so be alert. Yes I think we are going up, but with a lot more caution right now. You must use trailing stops at all times. ====================================================================================== DJIA---IF WE TAKE OUT 10,700 THIS WEEK WE COULD ROCK HIGHER TOWARD 10,950-11,000 VERY FAST. THAT WOULD BE THE TOP FOR ME. HERE'S THE CHART buyitbuyitsellitsellit.com NOTE THE TOP AREA IS AT 11,000. NAZ-COMPX---NEARING THE TOP OF THE 10 WEEK HERE AND VERY OVERBOUGHT AS WELL ON THE DCC CHART TOO. THE GOOD PULLBACK AREA IS AT 2100 THE 20 EMA. buyitbuyitsellitsellit.com NDX---THIS CHART IS VERY BULLISH TO ME 1630 IS REACHABLE WITH THE 20 EMA DCC AT 1535 OR SO. THERE'S A NEGATIVE DIVERGENCE ON THE CCI RIGHT NOW. HERE'S THE CHART buyitbuyitsellitsellit.com SOX---BROKE A PENNANT PATTERN ON THE CANDLESTICK CHART AND HAMMERED FRIDAY TOO BOOT. THE SEMIS RULE HERE. buyitbuyitsellitsellit.com NOTE THE "CUP WITH HANDLE" LOOK OF THIS CHART. RUT 2000---THIS CHART IS SETTING UP A BULL FLAG HERE WITH A SHOT AT 650 THE 20 EMA THEN ANOTHER RALLY TO MUCH HIGHER LEVELS. buyitbuyitsellitsellit.com SPX---LOOKS LIKE IT COULD SEE 1250 SOON THE RISING 20 EMA IS AT 1210.00 FOR A PULLBACK TO BUY. buyitbuyitsellitsellit.com BOTH THE ES U5 AND THE NQ U5 ARE EXTREMLY OVERBOUGHT AND IN NEED OF PULLBACKS RIGHT NOW. THE ES 20 EMA IS AT 1215.00 AND THE NQ'S 20 IS AT 1545 OR SO. THOSE WOULD BE WONDERFUL AREAS TO GET LONG AGAIN. I MIGHT ADD HERE THAT YOU COULD SWING TRADE THE FUTURES ON BOTH OF THESE AND THE RUT TOO. ====================================================================================== RIMM---72.75 THE BUY TRIGGER LONG(BTL)---71.75 THE SHORT SALE TRIGGER(SST). RIMM LOOKS TO MOVE HIGHER HERE IF THE MARKETS SAYS SO. SMH---37.35 THE BTL---36.60 THE SST---IF WE GET A PULLBACK...REMEMBER I SAID "IF" IN THE SEMIS TAKE THIS LONG AT THE 20 EMA AT 35.25..CHECK OUT THIS CUP WITH HANDLE CHART DCC buyitbuyitsellitsellit.com FFIV---50.10 THE BTL---49.05 THE SST---THIS STOCK CHART IS AWESOME HAS EPS DATE THE 20TH TAKE IT LONG. buyitbuyitsellitsellit.com AAPL---42.10 THE BTL---41.00 THE SST--AAPL IS LOVED BY THE STREET IT HAS A LONG WAY TO GO ON THE UPSIDE LIKE THE MID 50'S? NTES---56.75 THE BTL---55.75 THE SST---CAREFUL HERE THIS ONE IS BEING SOLD A BIT AND MAY BREAK DOWN... BOOM---40.70 THE BTL---39.70 THE SST---JIGGLING UP AND DOWN IN PHSYCO FASHION AS USUAL HANG ON FOR DEAR LIFE..THIS THING MAKES THE ZOO LOOK TAME<VBG> EBAY---35.60 THE BTL---34.60 THE SST---HAS EPS DATE THE 20TH WATCH FOR A QUICK TRIP NORTH MARKET WILLING. YHOO---37.10 THE BTL---36.00 THE SST---YHOO HAS EPS DATE THE 19TH SO EBAY COULD BE EVEN BETTER AS COULD AMZN AND THE HHH CAPISH? HHH---57.95 THE BTL---56.90 THE SST--- I WOULD TAKE THIS LONG TOMORROW AND LET IT RIDE WITH STOPS THRU YHOO AND EBAYS REPORTS. QCOM---36.05 THE BTL---35.00 THE SST---WHAT WITH EPS DATE THE 20TH I THINK WE'LL SEE A SUPER GOOD MOVE HERE. TAKE IT LONG TOMORROW. AMGN---71.20 THE BTL---70.05 THE SST---RIDICULOUSLY OVERBOUGHT HERE BUT MAN THIS LOOKS AWESOME ON ALL CHARTS. KLAC---49.00 THE BTL---47.95 THE SST---STILL HAS LEGS IN THIS RUN TOWARD 51-52 AREA. NVLS---27.85 THE BTL---26.90 THE SST--HAS EPS DATE THE 19TH COULD BE GREAT FOR THE WHOLE SECTOR IF THEY COME IN GOOD..I THINK THEY ALREADY GUIDED HIGHER..CAN WE VERIFY THIS PLEASE? QLGC---33.10 THE BTL---32.05 THE SST---HAS EPS DATE THE 20TH AND ACTUALLY IS VERY OVERSOLD RIGHT NOW COULD IT RUN? SNDA---35.50 THE BTL---34.45 THE SST---I LOVE THIS AS A SHORT IT ALREADY BROKE A TRIPLE BOTTOM..HIT IT HARD IF WE PULLBACK OK? BRCM---38.90 THE BTL---37.90 THE SST--HAS EPS DATE ON THE 21ST VERY OVERBOUGHT SHORT TERM BUT BUY ANY AND ALL DIPS... IMCL---34.60 THE BTL---33.60 THE SST---IF THIS BREAKS 36 TAKE IT LONG WITH STOPS. DO NOT ANTICIPATE IT THO WAIT PATIENTLY. NTAP---29.45 THE BTL---28.60 THE SST---CHART IS LOOKING A BIT BETTER HERE SO MARKET DIRECTION WILL DICTATE THE TRADE. OSIP---46.70 THE BTL---45.70 THE SST---I LIKE THIS STOCK LONG TERM SO WAIT FOR A 1-2 POINT PULLBACK AND TAKE IT LONG...IF THE MARKET GOES HIGHER GRAB IT... DNA---90.10 THE BTL---89.60 THE SST---LOVE THIS STOCK LONG AND STRONG LOOKS LIKE 100 AT SOME POINT..BUT CHECK THE CHART OUT HERE...MIGHT BE RISKY TO CHASE.. buyitbuyitsellitsellit.com VLO---82.60 THE BTL---81.40 THE SST---THIS STOCK BROKE DOWN LAST WEEK IN A TRIPLE BOTTOM BREAK...BE CAREFUL NOW ON ANY LONG SIDED TRADES.. ====================================================================================== OK LET'S TALK BUSINESS...I NEED A VOLUNTEER FOR POSTING NEWS FROM BRIEFING IN THE ROOM USING COPY AND PASTE METHOD... NEXT I WANT TRADERS IN THIS ROOM TO USE THE MIC. BUY A HEADSET AND TEST IT EACH DAY FOR PROPER USAGE. IT IS IMPORTANT THAT AN ON GOING DISCUSSION OF TRADES, NEWS, AND EVENTS TO SUPPORT THE WHOLE GROUP I CANNOT DO IT ALONE. PLEASE CALL OUT THE STOCK TRIGGERS..YOU "ALL" SHOULD BE SETTING THEM EACH DAY SO PLEASE REPORT WHEN THEY HIT. ALSO REPORT THE 10 AM HIGHS AND LOWS FOR THE FUTURES. IF THERE ARE FUTURE TRADERS IN THE ROOM PLEASE CALL THEM USING THE 3 MINUTE CHARTS WITH CCI. OR USE YOUR OWN METHOD GIVE SUPPORTS AND RESISTANCE AREAS FOR TRADERS IN THE ROOM. I WOULD APPRECIATE THAT WE ALL STEP UP TO THIS PLATE BECAUSE IT BENEFITS ALL OF US. WE NEED 100 PAIR OF EYES WATCHING OUR FRONTS AND BACKS. SEE YOU ALL IN THE ROOM WARMEST REGARDS JERRY Jerry Olson jerryo34@verizon.net