Trading with Jerry Olson

[Jerry Olson]

Morning all. While i understand you may have some reservations about scalp trading with us, i would suggest that this sell off had zero effect on the whole group. we are in cash each night, we never hold stocks overnight and we just look to make a days pay. Come into the room and watch it for yourself... e-mail me at [e-mail] i'll set you up and then you tell me? Also we are all using Genesis Laser Platform. it's simply the fastest anywhere for what we do. 10-1 leverage on your money at a minimum of $5000.00 to open the acct, and you do not need to be with me in the room either. Why trade with the old slow online brokers. It's nuts folks. All you pattern daytraders get ahold of me asap. there is NO Pattern Daytraders in our group. They charge 1 penny per share too.
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Her's my pre market update for today

Good Morning everyone

Yesterday was an internal mess as all of the Bullish Percents have reversed back down into a column of O's on the P&F charts I watch. But here's the near term problem for me. I cannot justify why this selloff happened last week, and in fact the speed which is collapsed is so suspect I am going to go against the grain here till I am proven wrong. What I mean is, this does not feel like a 10% correction is in the works. We've already had 4-5-6% in the major indexes in less then 7-8 days? In all the years I'm trading the markets, reading the charts on Point & Figure I cannot for the life of me remember the NYSE BP reverse down ahead of the BP OPTI. Now simply speaking the BP's were all overbought on their charts and so were all the indexes. Yes we were due for this pullback, but it just doesn't feel like death and taxes yet. Look yesterday we touched on the Globex overnight market 1368.75 ES H7 the S&P Futures. Buyers came out of the woodwork world wide to jamb the futures up really big overnight. That number was what I referred to as the bottom of the 10 week trading band on P&F. Not only that but the NASD/COMP Index held the 200 ema on the daily chart too. Usually when stocks indexes and futures touch oversold areas on the P&F charts at the bottom of the 10 weeks it means that chart is 100% oversold and due for a bounce. At the same time over the years when the TRIN NY reaches over the 2.50 area that too is a buy signal for me, also the McCellens were all wildly oversold well below the extreme areas on their charts at -285.00. So all and all we are due for this rebound. My upside target for the ES H7 is the 20 ema daily at 1424.00 and the 61.8% Fibo retrace off the top to bottom latest move. The speed with which these movements occur is mind boggling to say the least. Those slow tortuous olden days of corrections happen today with lightening fast speed. Currently what with the new thinking out there that the economy will slow later on this year the FED comes into play once again but this time on the "cut side". Look for right now we need to see how far and fast this rally takes us. Then we'll reassess the whole picture. Until then volatility will be at very high levels so be cool and scalp fast!
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AAPL---87.70 THE BTL---87.00 THE SST---BACK ON THE RADAR SCREEN BUT PLEASE USE SMALL SHARES WHEN WE TAKE IT

KLAC---51.60 THE BTL---50.95 THE SST---VERY STRONG ALL DAY YESTERDAY WE NAILED IT SEMIS HELD WELL FOLKS

RMBS---19.55 THE BTL---18.95 THE SST---THIS STOCK IS LAYING IN THE WEEDS AND COULD REALLY FLY SOON

SNDK---37.70 THE BTL---37.00 THE SST---REBOUNDED OFF THE 10 WEEK TRADING BAND AT 52 WEEK LOWS

CROX---45.50 THE BTL---44.90 THE SST---THIS STOCK HAD GREAT EPS FOLKS AND IS DEEPLY OVERSOLD TAKE IT LONG

BRCM---32.80 THE BTL---32.00 THE SST---THIS STOCK SHOULD WORK TOO SINCE THE SEMIS AND SOX LOOKED VERY GOOD.

AKAM---48.35 THE BTL---47.70 THE SST---BEST OF BREED IN THE INET COULD REALLY POP HERE.

AMZN---37.40 THE BTL---36.80 THE SST---THESE INETS HELD WELL THRU THE CARNAGE BUY THEM ON ANY WEAKNESS

SMH---33.90 THE BTL---33.30 THE SST---TXN GOT AN EARLY UP GRADE TODAY COULD POP THIS ETF BIG!

VLO---56.65 THE BTL---55.95 THE SST---CRUDE HAS BEEN STEADY NOW AT $60.00 BUT VLO IS CORRECTING NOW
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ALL AND ALL WE CAN LOOK FOR A BOUNCE HERE FROM DEEPLY OVERSOLD LEVELS WORLD WIDE. THE QUALITY OF THIS BOUNCE WILL SPEAK VOLUMES FOR MY NEXT ASSESSMENT OF THE MOVES.

RIGHT NOW PLEASE TAKE PROFITS QUICKLY AS BAGHOLDERS WILL BE SELLING INTO EARLY STRENGTH.

SEE YOU ALL IN THE ROOM, WE NAILED IT YESTERDAY LET'S DO IT AGAIN.

BEST REGARDS

JER & iNNA



Jerry Olson
The Jog Group LLC
[e-mail]