yesterday in the room, not out in the hall the traders had their BEST day ever!!! i was so impressed with the action inside that room, wow...and on that kind of down day amazing...
Good Morning all
OK so we corrected, i already told you it was going to happen, and sure enough it did! Booooyah folks, now what? We probably make a technical bounce for the next few days maybe do a retest of yesterdays lows, maybe hold maybe not we'll see. But i have to tell you all what is finally so gratifying to me after all this hard work. Yesterday in one of the most volatile and scary days for all traders, our group just smoked that market like i have never seen before. The group where i can "see" their trades is at Genesis as you know, it simply was the best trading day ever for the whole group. This during a horrific down day as the indexes got creamed all day long. So guys and girls you have to pat yourself on the back for a job well done, kudos to you all i am beaming! Now listen up, being a daytrader is where it's at folks make no mistake about it. Going to cash each night takes the worry out of the market for us so we can sleep at night and rest up properly eagerly looking forward to the next trading day. That emotional aspect is so important to our mental health. So as long as you are adjusting your long term portfolio's as i suggested over 2 months ago, then you're going to be laughing all the way to the bank. Why you ask? Because you either sold those profitable stocks, you bought protective puts, you wrote covered calls and raked in some wonderful cash into your accts, or you placed hard stop loss orders in underneath those hard fought gains. Now we are getting a fire sale scenario so those of you that raised cash can begin to make up a "shopping list" of stocks to buy when we bottom and reverse back up on the P&F bullish percent charts. Currently all BP's are in O's and falling rapidly, and that's another good point to remember folks. During the Feb/March 2007 Greenspan blurb or burp which ever, that correction took all of six weeks. This one looks even faster as the markets globally are following the USA as per usual and as they cascade lower and lower. At some point near term buyers will emerge with heavy cash allotments to push into the abyss. It's the investors that "missed" the rally off these other lows that will pile into the game like a shark feeding frenzy, make no mistake about it. The headlines around the world are screaming crash crash, everyone this is no crash. This is the orderly pullback i wrote about months ago even as we touched 14,000. In the ebbs and flows of this living breathing stock market, we in the world of P&F understand this phenomenon and just continue to do what brought us to the dance floor over and over again and again. Hang tough ladies stocks are "On Sale", and we all know how we dearly love a "discount" right? See you in the room today let's repeat the same solid gains ok?
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QID---44.10 THE BTL---44.50 THE SST---MADE A SHARP MOVE OFF THE DEEPLY OVERSOLD AREA ON THE CHART AS EXPECTED
SNDK---57.10 THE BTL---56.55 THE SST---HELD LIKE A ROCK YESTERDAY WE TRADED IT GREAT LET'S DO IT AGAIN YES?
SNCR---35.00 THE BTL---34.60 THE SST---HAS EPS LAST NIGHT CAME IN GOOD AND HAS A BIG CONNECT WITH AAPL FOLKS
OMTR---25.95 THE BTL---25.40 THE SST---THIS STOCK HELD LIKE A ROCK YESTERDAY A NICE FIND FROM A ROOMIE<G>
KFT---34.50 THE BTL---34.00 THE SST---IF BUFFET CAN OWN IT SO CAN WE RIGHT, SCALP ONLY THO FOLKS I LIKE IT LONG
LDK---43.55 THE BTL---42.95 THE SST---EXCELLENT SOLAR PLAY AS THE WHOLE SECTOR IS DOING QUITE WELL RIGHT NOW
SMH---38.65 THE BTL---38.15 THE SST---TOUCHED THE 50 DAY AND BOUNCED YESTERDAY I LOVE THE SEMIS SECTOR.
VSEA---46.30 THE BTL---45.70- THE SST---POPPED OFF THAT NICE KLAC REPORT LAST NIGHT COULD GO UP TODAY
QCOM---42.40 THE BTL---41.80 THE SST---HAD EXCELLENT EARNINGS AND SOLD OFF WITH THE PUSH DOWN YESTERDAY
SOLF---11.90 THE BTL---11.30 THE SST---THIS STOCK SHOWED GOOD RS YESTERDAY I LIKE IT TO BOUNCE WITH THE SOLARS
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OK WE HAVE GDP AT 8.30 THEIR GUESS IS 3% NOT SURE ABOUT THAT FOLKS. BUT I DO WANT TO SAY THAT THE NDX 100 INDEX BOUNCED NICELY OFF THE 50, SO WATCH THAT AS THE LEADER TODAY FOR A REBOUND.
TRADE SMART TODAY YOU HEAR? AND USE STOPS THEY SAVE A LOT OF MONEY
SEE YOU IN THE ROOM
BEST
JER & INNA
Jerry Olson
The Jog Group LLC
jerryo34@verizon.net
