attention everyone, as of next week i'm opening the room up for all traders for the balance of July. Please e-mail me to get on my e-mail list for my newsletter and pre market updates during the week. Good Luck
jerryo34@verizon.net
Good morning all
The 4th of July holiday week has been bullish for years on end, no different this week either. I told you this was going to happen in my last weeks newsletter. In all reality nothing has happened to the charts except we are making contract highs on a lot of indexes. The QID is in free fall for 3-4 months now as we continue to ride the wave of happiness. Ever think that too will change soon? I mean there's absolutely just no bad news now, and even with crude approaching $75.00 bucks a barrel, interest rates still a bit high for the street, not for me folks, and sundry other things that just make people scared to get long. So they missed the boat, the train, the plane altogether and that's just too bad. What has not missed this rally is the funds they are buying like there's no tomorrow. What with the likes of RIMM AAPL GOOG AMZN etc moving to recent highs carrying the ball all by themselves you have to wonder as we head into earnings season next week if the numbers are good then holy smokes right? Well maybe, maybe not. I am always a bit suspicious about news that's just "too good" for too long. Something always triggers a countertrend move because of the excessive euphoria on the street now. So I'm feeling ok right here, more in the neutral to bearish camp at the moment. I want to see what the market looks like after the 4th's action. This is sort of unnatural, this type of action on low volume type rallies, and it remains to be seen if this holds up next week into the end of July. There are some cycle dates coming up late July that could influence the move lower I'm expecting but there will be no carnage for sure. I'd dearly love to see a solid slow pull back to re set the charts. But what I would like I don't always get. The internals on P&F are neutral to down and that has me somewhat concerned so I'm cautious, just scalp trading just enjoying the beginning of some slower trading to slow all of you down too. Folks you do not have to be in "every" trade every minute of the day. There's no way you can make money trading like a maniac. Just count your daily trades it will shock you. Anyway we have the JOBS report at 8.30 looks like consensus is 175,000 it does not matter to me. We'll trade it like we see it as always.
=================================================================================================================
QID---44.15 THE BTL---43.50 THE SST---CONTINUES TO MOVE TO NEW 52 WEEK LOWS EVERY DAY WITH NO LET UP IN SIGHT
JSDA---16.80 THE BTL---16.20 THE SST---WHAT A DAMN MESS THIS TRADE WAS EH? GEE WE HAD IT NAILED EARLY UNREAL
LOCM---13.15 THE BTL---12.65 THE SST---THIS THING CAME OUT OF THE BLUE WATCH FOR PROFIT TAKING TODAY
QCOM---43.75 THE BTL---43.20 THE SST---JUST REVERSED BACK UP ON P&F THE CHART LOOKS VERY NICE RIGHT HERE
NFI---7.90 THE BTL---7.50 THE SST---THIS NAME BOUNCED OFF A 35% SELL OFF OVER THE LAST WEEK OR SO
SINA---45.00 THE BTL---44.45 THE SST---EVERY DAY A NEW 52 WEEK HIGH WHEN WILL IT END? MAYBE TODAY<G>
CROX---43.60 THE BTL---43.00 THE SST---MOVED WELL OF THE RECENT LOWS AS I THOUGHT IT WOULD BOUNCE NICELY
NVEC---39.40 THE BTL---38.80 THE SST---CONTINUES TO SHOW STRENGTH WITH NO VOLUME FUNNY STOCK FOLKS
XMSR---12.65 THE BTL---12.20 THE SST---WOKE UP YESTERDAY MIGHT WAKE DOWN TODAY I DO NOT LIKE RUMORS
NTES---19.30 THE BTL---18.85 THE SST---THE LAST OF THE MOHICANS PLAYING CATCH UP WITH THE REST OF THE GROUP
================================================================================================================
THE JOBS REPORT COMES OUT AT 8.30 THE STREET LOVES TO GUESS THE NUMBER THEN REACT TO IT. FOR ME IT';S A HO HUMMER. KEEP YOU EYES ON THE 10 YEAR YIELD THE TNX I WANT TO SEE IF THEY CAN PUSH IT BACK DOWN BELOW 5%.
I AM OPENING THE ROOM NEXT WEEK FOR THE BALANCE OF JULY ALL ADMINS GET READY<G> ANYONE THAT WISHES TO VOLUNTEER FOR BECOMING AN ADMIN LET ME KNOW IN THE ROOM.
ALL GENESIS USERS THERE A NEW LASER DOWNLOAD AFTER THE CLOSE UNINSTALL THE OLD ONE AND REINSTALL THE NEW ONE.
ALSO PLEASE GET YOUR WIRES UP AND INTO YOUR GENESIS ACCTS ASAP AT LEAST TOWARD THE MINIMUM., THANKS.
LATER
JERRY & INNA
Jerry Olson
The Jog Group LLC
jerryo34@verizon.net
