Good Morning all
We have class this evening at 7.00 pm for beginners only, just newbie's we need to set up your charts and talk about how to trade. The class will be right in our real time room. If you have someone that's having trouble you can invite them to listen in as well.
The markets did not look good yesterday as the internals are getting weaker and weaker on P&F. While the indexes are still holding up well right now that is not what's happening underneath the street. This particular "look" on the bullish percent charts of the internal indicators are not new to me. While traders and investors are putting money to work at these lofty levels, i have been suggesting taking wealth preservation measures by cleaning out your portfolio's while the Johnny come lately's join the party way too late. There is a clear and present danger of being too complacent at the top. What with the "mounting" evidence of this continuous deterioration in the bullish percents and other important charts we watch and understand. It's not a fast moving process folks, but over time it will create serious monetary damage to your wallet. The very simple answer to this current situation is to sell your holdings, or place hard stop loss orders to protect gains, or buy protective puts, or sell covered calls but certainly do something ASAP. If you just sit there and think ahh this guy is an alarmist think again. It's all up to you, you make the real hard decisions when it affects your money. So do what you will be i am warning you all, your stock broker is not telling you this, he's been trained to keep you in the market for the "long haul". Haul this! It never works unless you're nimble and always rotating high priced winners with low priced losers. Meaning buy low and sell high, you got that? A profit is not worth the paper it;s written on till you sell it! As of this date we are "far" away from the bottom of this total correction. It just gets uglier and uglier as it moves toward the bottom. DON'T SIT!
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TASR---16.80 THE BTL---16.26 THE SST---THEY MUDERLIZED THIS NAME BECAUSE THE CEO FAILED TOP SHOW ON CNBC
KLAC---61.60 THE BTL---60.95 THE SST---TXN CAME IN MEDIOCRE COULD HIT THE WHOLE SEMIS SECTOR WATCHING
VSEA---47.30 THE BTL---46.70 THE SST---HELD WELL YESTERDAY AHEAD OF EPS DATE THURS BUT WE'LL SEE TODAY
ESLR---9.35 THE BTL---8.95 THE SST---DID NOT PARTICIPATE IN THE LATE RUN IN THE SOLARS HAS EPS DATE THURS
AKAM---49.00 THE BTL---48.40 THE SST---HAS EPS DATE WEDS AND THE CHART LOOKS VERY GOOD TO ME HELD WELL
LRCX---59.20 THE BTL---58.60 THE SST---DID NOT EVEN BLINK LAST NIGHT HAS EPS TONIGHT THE CHART IS GOOD
NTRI---68.30 THE BTL---67.70 THE SST---HAS EPS EARNINGS THIS EVENING I'M THINKING ABOUT TRYING IT<VBG>
RFMD---6.85 THE BTL---6.40 THE SST---HAS EPS TONIGHT AND ACTUALLY IT'S BEEN DOING BETTER MIGHT POP
HOKU---11.35 THE BTL---10.95 THE SST---HAS EPS TONIGHT BUT WHO KNOWS ABOUT THESE SMALL SOLAR COMPANIES?
AMZN---72.10 THE BTL---71.40 THE SST---EARNINGS THIS EVENING THEY KILLED IT LAST Q, CAN THEY REPEAT AGAIN?
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WE NEVER HOLD TRADING STOCKS THRU THEIR EARNINGS ANNOUNCEMENTS. SO SELL AHEAD. NEXT 90% OF THE TIME THE STREET "SELLS THE NEWS" NO MATTER HOW GOOD THE REPORT IS! SO BE COOL OUT THERE FOLKS.
FOR THE NEWBIE'S HERE, BTL=-BUY TRIGGER LONG FOR SCALPS, SST=SHORT SALE TRIGGER FOR SCALPS.
SEE YOU IN THE ROOM
LATER
JER & INNA
Jerry Olson
The Jog Group LLC
jerryo34@verizon.net
