Trading with Jerry Olson

[Jerry Olson]

AS EXPECTED DURING OP EX WITCHING WEEK

Good Morning All

The markets and selected stocks did very well for a Monday in March Maddness Op Ex Week. However as I wrote Sunday we still have some unfinished business to attend to on the downside. When a daily chart pattern is doing a "backside bounce" up into 2 time frames the 20 & 50 emas, you must expect sellers to appear at that resistance area first before we attempt to break thru in the days ahead. So we wait for this expected pullback to see where buyers step up to the plate. I can say that 1368.75 ES is a serious line in the sand number. We do not want to break below that price. What seems to be going on out on the street is a serious bearish thought process of an implosion about to happen, like in crash mode. I do not see that happening right here. This banking crisis is just another excuse to sell the current rally and unload some of the stocks traders are long & underwater in right now. But this is nothing new for us we've seen this type of action 1000 times before in the scheme of things. It's more important to watch the downside numbers I wrote about for support areas, and at the same time try to get your shopping list together as well. The bottoming process might take some time just like the topping process took such a long time to develop so be patient and always be ready out there. We have a slew of eco reports this week including the PPI & CPI so they will be watched with renewed interest since the last CPI came in a little hotter then expected. I remind you all that this is op ex week quadruple witching so expect wild swings in prices during this week. Then we're in this March Maddness week too which makes things even more interesting during this time frame. We need to buy the dips and short the rallies during this week. However I did like the action yesterday and want to see how the street handles the gap down this morning. Hang tough stay fast and loose and please do not sit in losing or winning trades, we are in super scalp mode.
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NVEC---28.05 THE BTL---27.50 THE SST---UP 2 POINTS YESTERDAY BUT THE DAILY LOOKS TERRIFIC SLOW MOVER THO

CROX---46.30 THE BTL---45.70 THE SST---GREAT WEEKLY CHART TRYING TO BOUNCE OFF THE 20 EMA VERY OVERSOLD

RMBS---20.80 THE BTL---20.25 THE SST---DOING A BIT BETTER YESTERDAY WE HAVE A LOT GOING ON IN APRIL

SNDK---40.90 THE BTL---40.30 THE SST---TRYING TO GRIP HERE SHOWING "SOME" TRACTION OFF THAT UPGRADE

AKAM---52.75 THE BTL---52.10 THE SST---NICE MOVE YESTERDAY OFF THE CRAMER PUMP JOB LAST WEEK

JSDA---18.95 THE BTL---18.50 THE SST---THIS SMALL CAPPER IS IN PLAY RIGHT NOW ACTED WELL YESTERDAY

HANS---35.30 THE BTL---34.70 THE SST---DID WELL DURING THE DAY LET'S SEE WHERE THEY BUY IT TODAY

SMH---34.90 THE BTL---34.20 THE SST---TXN GAVE GUIDENCE LAST NIGHT NOT TOO HOT OR COLD SO WE'LL SEE

AMZN---38.95 THE BTL---38.40 THE SST---BACKING AND FILLING RIGHT NOW USUALLY GAPS UP THEN SELLS OFF

KLAC---52.90 THE BTL---52.40 THE SST---JUST HAD NO ACTION YESTERDAY BUT WHAT WITH TXN LAST NIGHT WE'LL SEE
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SEE YOU ALL IN THE ROOM

BEST REGARDS

JERRY & INNA


Jerry Olson
The Jog Group LLC
[e-mail]