Good Morning all
The markets are in major chop right now as evidenced by our trading yesterday. While traders did not lose the usual amounts we could see the yo yo effect of total indecision in front of the FOMC meeting today with their statement coming at 2:15 on Thursday. There is a further deterioration of the main bullish percents on P&F as of yesterday. The big boy on the block the NYSE BP is less then 1% away from reversing back down. That in itself should wake you all up to my constant pounding of taking profits "too soon"! Protecting your money at all costs, it's called wealth preservation. The candlesticks charts are not that negative yet, but we could really break down hard of the current levels are broken. I am looking for a rally up into the FED and post FED along with end of quarter window dressing and beginning of the month buying from the funds, I call it EOMBOM phenomenon. Everything from a technical point of view is signaling a nice rally is coming and not too late if you ask me. We have a very high equity P/C ratio nearing 1.00+, we have the McCellens at very oversold levels, we've been moving lower for days on end with double doji's on the daily charts of most indexes. NOW that could scare the whole street folks. We need fear because that's what pops the cork, checking the VIX index I see it's right at the Feb/March lows. In other words everything is adding up for a final push to new highs that I think will fail. It looks like we'll make a lower high roll back down and break some supports for the "real correction" we've needed all along. Nothing goes in either direction for too long. So if we make a lower top, and if the NYSE BP reverses back down we must then and there change form being bulls for 12 months to becoming short term bears shorting all rallies looking ton short stocks and not buy the dips anymore. We'll need to wait for this to unfold, I'll report here to you all as it does unfold so you can change your thought processes form this current thinking and trading patterns to a flip to the other side of the street. All good traders must be able to do this, or fail!
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SNCR---26.70 THE BTL---26.20 THE SST---HAS A BIG PIECE OF THE IPHONE LAUNCH THIS WEEK COULD REALLY POP TODAY
SMH---38.00 THE BTL---37.50 THE SST---BEAUTIFUL 3 STICK BULL FLAG PULL BACK COULD POP TODAY AHEAD OF THE FED
ASTI---9.50 THE BTL---9.05 THE SST---ANOTHER SOLAR PLAYER COMING TO THE FORE THIS SECTOR IS NUTS NOW
SOLF---11.25 THE BTL---10.70 THE SST---THIS THING WAS UP OVER 1.00 WHILE WE WERE PLAYING HOKU AND JASO???
ONXX---26.80 THE BTL---26.20 THE SST---HAS BEEN FALLING OFF A CLIFF FOR DAYS ON END DUE FOR A BOUNCE TODAY
SINA---41.20 THE BTL---40.65 THE SST---ACTED VERY NICE YESTERDAY THE CHINA NETS ARE CONSTANTLY IN PLAY NOW
CMED---32.30 THE BTL---31.70 THE SST---GRAVESTONE DOJI YESTERDAY BUT THE WHOLE MARKET HAS THOSE NOW
NVDA---40.75 THE BTL---40.20 THE SST---PULLING BACK FROM THE LATEST SURGE MIGHT NEED ONE MORE DAY OF CORRECTION
NFI---8.30 THE BTL---7.90 THE SST---PULLED ALL THE WAY BACK TO THE 50 HERE SO LET'S SEE IF IT CAN RALLY FOR 1 DAY
TASR---13.50 THE BTL---12.95 THE SST---CORRECTING THE LATEST RALLY IF YOU ARE STILL LONG THE JAN 2008 OPTIONS AND THE NYSE REVERSES BACK DOWN SELL THEM IMMEDIATELY. WE HAVE A 400% PROFIT IN THE TRADE.
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EVERYONE STICK TO THE CURRENT GAME PLAN, IF YOU USE 200 SHARES PER TRADE USE IT ALL DAY LONG. USE HARD STOP LOSS ORDERS, GET YOUR HEAD IN TO THIS GAME NOW. IN OTHER WORDS "LEARN HOW TO TRADE" . UP TILL NOW YOU'VE HAD NO CLUE. SO WORK HARD TO GET IT RIGHT, "THEN" UP THE LOT SIZE BUT NOT NOW.
GOOD LUCK TODAY
JERRY & INNA
Jerry Olson
The Jog Group LLC
jerryo34@verizon.net
