Trading with Jerry Olson

[Jerry Olson]

todays update

Good Morning all

The markets are in a time of flux right now and not looking very good on either side of the street. The volatility in the futures is now exacerbated by the roll over from March to June starting today. So expect a wild ride the next 7-8 days all the way thru op ex week from the 12th thru the 16th. Then the following week is the FOMC meeting the 20th and 21st. We live in interesting times folks, this is not one of those times to lose money. I have scaled back trading a lot intraday till we get some semblance of order here. You know we are trading the markets each day for the whole year 1 week or two does not make a market for us. Be very careful with your trading capital. I am doing just that for sure right now. Now yesterday was a so so day till the near the end when the futures tanked pulling a lot of stocks down hard. Shorts were much better yesterday then longs. Push the red buttons on gaps today as sellers are still there for now because of becoming bagholders from "much higher prices". I can say when I opened my peepers this am the futes were way up on all indexes and I have no clue why. This latest carry trade debacle with the YEN imo has zero effect on our stock markets so ignore it. I will say that I'm bullish on GOLD futures they look higher to me right here today. Crude is doing zero at the moment so I'm ignoring that too. What is interesting to me is the fact the this latest correction is moving even faster then the May June 2006 6 week crash and burn mess. I do not have this negative feeling during normal pullbacks that I had last year. The catalysts for this move lower is not what makes 10% corrections come to pass. The sideline cash with the current mindsets of the dip buyers is still very evident I would be willing to state we'll not see that 10% correction happen at all. So let the markets shake out here, my upside target for the S&P futures is a 61.8% Fibo retrace off the highs to the recent lows at 1424.00 at the 20 ema on the daily chart. We'll see what happens there and then. I do expect some selling to continue for another move lower after that touch shortly. It may come to pass that we make a higher low and then begin to rally again. We'll see! Protect yourself please.
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CROX---45.80 THE BTL---45.00 THE SST---RALLIED UP TO 47.50 THEN PULLED ALL THE WAY DOWN TO EVEN

KLAC---51.40 THE BTL---50.80 THE SST---I LIKE THE SEMIS AND I REALLY LIKE THE RECENT ACTION IN KLAC

RMBS---20.20 THE BTL---19.70 THE SST---LOOKING A BIT BETTER NOW BUT MUST START TO MOVE TOWARD 24.00 SOON

AMZN---38.65 THE BTL---38.00 THE SST---INTRADAY THIS STOCK RALLIED UP NICELY IT'S NOT THE "OLD" AMZN ANYMORE

SNDK---39.05 THE BTL---38.40 THE SST---THIS STOCK IS WONDERFUL FOR SCALP TRADING EITHER SIDE LONG OR SHORT

NVEC---25.75 THE BTL---25.00 THE SST---LOOK THIS IS A LOW FLOATER THAT CAN MOVE 2 FULL POINTS ANYTIME

AKAM---48.30 THE BTL---47.60 THE SST---I LIKE THIS STOCK TO MOVE HIGHER TODAY MARKET WILLING IT'S CHEAP

VLO---60.05 THE BTL---59.50 THE SST---I WISH TRADERS WOULD CALL OUT THE TRIGGERS FOR 2 DAYS THIS WAS SUPER

TTWO---19.30 THE BTL---18.70 THE SST---SEEMS THIS LITTLE STOCK IS "IN PLAY" RIGHT NOW LET'S WATCH IT TODAY

NVDA---29.80 THE BTL---29.15 THE SST---EVERYDAY THIS RALLIES UP AND THEN SELLS OFF WATCH IT AND CALL IT
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WE HAVE SOME ECO RPEORTS TODAY BUT TOMORROW IS THE VERY IMPORTANT EMPLOYMENT REPORT SHOULD BE WILD AT 8.30 FRIDAY HANG TOUGH AND TRADE SMART.

SEE YOU IN THE ROOM, I HAVE A TERRIBLE HEAD COLD SO I'LL SOUND LIKE DEATH ON THE MIC, BUT I AM ALIVE<G>

JERRY & INNA



Jerry Olson
The Jog Group LLC
[e-mail]