Trading with Jerry Olson

[Jerry Olson]

HAPPY WEEKEND, WE ARE CALLING SOME TERRIFIC TRADES LIVE FOLKS

Good Morning all

This run in the markets has been really something wonderful to see. The problems are the indices and futures are rolling up and up while individual stocks are floundering right now without much traction. The DJIA and the ES H7 are leading all other indexes higher along with confirmations by the small caps RUT 2000 and the Trannies, but the NQ H7 and the NAZ are lagging a bit right now. I think that's going to change as tech will play catch up over the next short time frame. Some very important levels to watch on 2 important charts we all watch is the first buy signal on the SOX index at 480, and then if this index can take out hard overhead resistance by printing 495 I believe the upside would be a real shocker to the whole street. The next index is the COMP-NASD a print of 2520 takes this one to new 52 week highs with another "100" points a real possibility to the upside as well. If this happens it probably will happen at the same time creating a vortex of powerful factors to move a ton of cash into the tech sectors. We do watch and trade the ETF "SMH" for the semis, there is a ton of overhead R at 35.00 to 35.50, my point here is the key indicator for tech is the SOX & Semis to lead that sector and the markets higher. This morning we have housing numbers and the PPI for last month all of which will be market moving. I did want to mention that interest rates have come down nicely off that heavy R area at 4.90% for the TNX the 10 year and could begin to re test the 4.60% area which bodes very well for us traders. I love the mere fact that both the bond and stock markets are moving up together in tandem. This actually how it was many years ago and that reminds me of how bullish it was for the markets. All and all we seem to be ok right now, very overbought and sitting on Friday of Op Ex week. The chop continues as we try each day to make solid trades at proper entries, it's been tough folks but that too will change. Stay fast and loose rest up for this weekend we have a 3 day holiday coming up so the newsletter will come out on Monday.
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RMBS---22.70 THE BTL---22.10 THE SST---I SOLD IT BREAK EVEN POST MARKET BUT TODAY COULD BE BIG STAY ALERT

SNDK---41.45 THE BTL---40.80 THE SST---EACH DAY THIS STOCK POPS EARLY LARGE THEN DIES SO LET'S TRADE IT THAT WAY

CIEN---31.35 THE BTL---30.80 THE SST---THIS STOCK IS IN PLAY BROKE OUT AT 31,00 AND HAS LEGS FOR MORE

BRCM---35.55 THE BTL---34.95 THE SST---ANOTHER WILD RIDE EACH DAY THIS ONE JUST THE OPPOSITE 36.00 A GOOD NUMBER

YHOO---31.60 THE BTL---31.00 THE SST---IMPROVING EACH DAY ON THE CHARTS WITH A POTENTIAL TO MOVE TO 33.00

ARBA---10.95 THE BTL---10.55 THE SST---EACH DAY IT'S MAKING HIGHER HIGHS AND HIGHER LOWS SOMETHING COMING BIG

SMH---34.75 THE BTL---34.25 THE SST---NEEDS TO CONTINUE TO PUSH HIGHER ALONG WITH THE SOX INDEX

MRVL---19.50 THE BTL---18.95 THE SST---TRYING TO REGAIN SOME TRACTION OF LATE THE TRIGGER IS A GOOD REVERSAL

QCOM---41.55 THE BTL---40.90 THE SST---BROKE A TRIPLE TOP YESTERDAY AFTER LAYING IN THE WEEDS FOR A YEAR

CROX---53.05 THE BTL---52.55 THE SST---HAS EPS DATE NEXT TUES AH THE STREET LIKES THIS NAME
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OK NO HARM NO FOUL YESTERDAY IN THE GROUP I SAW WHAT EVERYONE LOST. SOME TRADERS HAVE BEEN IGNORING MY PM'S THAT'S OK TOO. BUT TRADING STOCKS AT A $200 BUCK PRICE WHEN YOU ARE HAVING TROUBLE IS INSANE. TRY 10-30 BUCK STOCKS FIRST. HECK ARBA OR CIEN WERE TERRIFIC YESTERDAY TYR THE SMH FOR THE DAY MAKING BOTH LONG AND SHORT TRADES TO "PRACTICE" YOUR CRAFT. I WATCH IN AMAZEMENT TRADERS TRYING TO USE BIDU, RIMM, ETC, YOU GOT TO BE KIDDING. IS THAT THE GREED FACTOR FOLKS, LOOKING FOR A HOMERUN ARE YOU? GREAT KEEP LOOKING.

SEE YOU IN THE ROOM

JERRY & INNA




Jerry Olson
The Jog Group LLC
[e-mail]