Trading with Jerry Olson

[Jerry Olson]

have a good weekend all

Good Morning All

The markets shook off that very hot PPI number yesterday and then basically went totally flat for the whole day. Internally the BP's stopped moving lower and that's a good sign for now, while the OTC High Lo index has touched the green zone at the 30% level a good thing on down the road. Typically these shorter term indicators push even lower till they wash out and then when they reverse back up we get a more sustained rally. As it is just the lack of buyers yesterday makes me cautious near term till we can get more traction and more sideline cash off the bench into the markets. This morning the CPI the more important inflation number will be out at 8.30. We'll wait for that number and then the reaction to the results. We are heading into the bullish window of the FOMC meeting next Tues & Weds. The onus I would think could be a change in their hawkish rhetoric and turn it more dovish based on this banking sub prime fiasco and sundry other negative events on going in the country. Let me tell you all the housing market has NOT bottomed by a long shot. This entire bubble burst created a slew of problems for a majority of corps that have a direct or even indirect relationship with housing. The "Trickle Down Effect" has created a lot of companies to re forecast earnings for now because of the housing debacle. That too will change but for now it's been a drag on the economy but not quite yet with the consumer. As I mentioned before the sub prime area of the whole financial sector is only 1% of the total, not much to worry about but the street always takes these events and plays them to the hilt. It will all iron itself out as it always does over time, that's why we ignore the noise and just follow the charts. I expect some volatility today since it's op ex Friday, but there is no way we'll trade this without a proper set up. I do want to say the group did exceptional yesterday picking some stocks that were moving and taking quick profits. Gee whiz that was nice to see. Anyway let's relax for the weekend refresh and regroup ahead of the FED, stay safe.
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SNDK---40.95 THE BTL---40.35 THE SST---DEAD IN THE WATER YESTERDAY WITH NO VOLUME LIKE MOST STOCKS

KLAC---52.30 THE BTL---52.70 THE SST---BEEN LAYING IN THE WEEDS DURING THE DAY AND RALLYING LATE

RMBS---20.50 THE BTL---19.95 THE SST---NEWS CAME OUT THAT WAS NOT GOOD I THINK<G> WE'LL SEE TODAY

BRCM---34.45 THE BTL---33.90 THE SST---HOLDING VERY WELL DURING THIS ENTIRE PULLBACK FOLKS TAKE NOTICE

CROX---46.10 THE BTL---45.60 THE SST---FINALLY HELD ABOVE THE $1.00 GAIN YESTERDAY IS IT READY TO ROLL??

HANS---36.05 THE BTL---35.55 THE SST---THIS STOCK IS SHOWING A LOT OF STRENGTH RIGHT NOW AND COULD GO HIGHER

QCOM---44.00 THE BTLL---43.60 THE SST----THIS SI DUE FOR A QUICK PULLBACK BUT THAT 44.00 PRINT IS HUGE

EBAY---32.00 THE BTL---31.50 THE SST---THIS STOCK HAS BEEN HOLDING WELL WATCH THE SECTOR FOLKS.

NTRI---47.50 THE BTL---46.90 THE SST---THERE IS SOME GOOD VOLATILITY IN THIS NAME INTRADAY WATCHING

LEND---NO TRIGGERS BUT MAJOR NEWS ABOUT SELLING 2.7 BILLION OF BAD LOANS AND OTHER IMPORTANT NEWS THAT IS VERY BULLISH IF YOU TRADE USE 100 SHARES ONLY AND SCALP IT USING SELL STOPS DO NOT JUST PUSH BUTTONS. THIS STOCK LOOKS MUCH HIGHER TO ME..
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SEE YOU ALL IN THE ROOM, REMEMBER CPI AT 8.30

LATER

JER & INNA
Jerry Olson
The Jog Group LLC
[e-mail]