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

To: Jerry Olson who wrote (1580)	7/21/2005 1:47:43 PM
From: Jerry Olson	Read Replies (1) \| Respond to of 1617

Good Morning all The markets continue to rally even in the face of Alan Greenspan on the Hill, even in the face of not so good earnings reports from YHOO and INTC, even in the face of an extremely overbought chart patterns. For weeks on end I have suggested simply to "trail hard stop loss orders up" and let your winners run and run and run. Well without a doubt that certainly is working well right now. Do not get too complacent here as we continue to rally in nosebleed territory without one shred of evidence of any distribution at all. There are no sellers right now and that makes for an interesting situation as we move higher and higher without a breather. IN fact most trader are not even getting an opportunity to "get in" at any pullback point since it's an intraday bounce we're seeing each time we dip. We have in fact bought every single dip we can get into and it's all worked like a charm right? Well that too shall stop at some point but absolutely know one knows when, and know one cares when either. If you try to predict tops or bottoms you'll miss out on important sentiment changes. In this case of irrational exuberance that carries profits higher and higher others become too scared and bail out way too soon on a profitable trade. I would dearly suggest that you do not out think yourself and stick closely to the game plan. It's working quite well right now. ===================================================================================== RIMM---73.15 THE BTL---72.05 THE SST---RIMM FINALLY REVERSED UP ON THE CHART IT HAS ROOM FOR A MOVE UP HERE. SMH---38.40 THE BTL---37.60 THE SST---I AM LONG THE SMH AND WILL TRAIL STOPS HERE AS THE SEMIS CAUGHT FIRE YESTERDAY KLAC---51.15 THE BTL---50.10 THE SST---I AM LONG KLAC AS WELL WITH ABOUT $1.780 IN PROFIT AS WE SPEAK I'LL SET STOPS AT THE OPEN. AAPL---44.30 THE BTL---43.30 THE SST---I AM LONG AAPL AT 43.03 AND HOLDING FOR THIS AM, WILL PLACE HARD STOPS SOON AS WE OPEN. QCOM---37.85 THE BTL---36.95 THE SST---JUST REVERSED UP ON THE CHART LOOKS VERY GOOD FOR HIGHER PRICES. IMCL---37.10 THE BTL---36.10 THE SST---WE KILLED THIS STOCK YESTERDAY AS I ALERTED YOU ALL TO BUY IT. WE'LL GET BACK IN SOON. INTC---27.95 THE BTL---27.25 THE SST---I LIKE INTC FOR A BOUNCE PLAY IF WE CONTINUE UP TODAY IT HELD WELL YESTERDAY.. BRCM---40.30 THE BTL---39.50 THE SST---ACTING WELL AHEAD OF EPS DATE THE 21ST ALL THE SEMIS ARE DOING WELL RIGHT HERE. EBAY---41.05 THE BTL---40.00 THE SST---WHAT A GREAT REPORT YESTERDAY IT'S FLYING THIS AM HAVE FUN... BOOM---42.50 THE BTL---41.50 THE SST---OK YOU RIDE THIS NUT CASE STOCK I WANNA SEE HOW GOOD YOU ARE<VBG> ===================================================================================== WE HAD A VERY NICE CLASS LAST NIGHT HOPE YOU ALL ENJOYED IT. NEXT WEEK SAME TIME SAME PLACE. 7.30 EST. SEE YOU ALL IN THE ROOM THIS AM BEST REGARDS JERRY Jerry Olson jerryo34@verizon.net