Trading with Jerry Olson

[Jerry Olson]

NEVER READ ANYONE ELSE YAYAA EVER

Good Morning all

As expected when the FOMC day is up usually the next day is down, and down it was in a trend day down really. I checked all the P&F charts just to see the local lines in the sand for breakdowns on the charts. Remember we are now and have been in nosebleed territory for months on end. We have been due for a correction certainly without a doubt. But I am still bullish, still buying dips and will continue to do so till we actually change trend direction. Let me give you some numbers so you can set alerts on these indexes just to keep you in this game with the overall picture. 13,000 for the DJIA is a normal 3 box reversal back down off the top of the 10 week trading band. If this is the start of the correction I wrote about heading into late May then 12,700-900 should be all she wrote folks. That actually could happen in 1-2 weeks or 3-4 days in this crazy market. ON the NASD COMP 2520 normal pull back number with 2440 the middle of the 10 week trading band, if that would happen it would be a normal pull back and nothing more you understand? NDX 1840 the 3 box back down 1800 the middle. The ES M7 any break below 1484-80 would be a negative and accelerate this move lower, on the NQ's it's 1875, on the RUT it's 804. So for all intents and purposes set alerts on the indexes to keep you right in the loop watching the trends next move. I'll do some Fibo retrace charts from the lows to the recent highs on the candle charts over the weekend. Next I have told you all repeatedly to take something off the table. Protect your gains, have you started to do that? Did you set stop loss orders under your long term buy and holds? Did you write covered calls? Did you buy protective puts? What exactly did you do to preserve your hard won gains. Certainly there is still time, so stop procrastinating ok? It's you money or your life.
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AMZN---61.40 THE BTL---60.65 THE SST---IT WAS A MUCH BETTER SHORT THEN A LONG YESTERDAY OFF THE 20 EMA BREAK

CROX---70.65 THE BTL---69.85 THE SST---CRAMER CONTINUES TO PUMP THIS NAME BUT IT'S VERY OVERBOUGHT

SNDK---44.40 THE BTL---43.70 THE SST---JUST SORT OF BACKING AND FILLING RIGHT HERE NEAR 45.00 OR SO

KLAC---55.40 THE BTL---54.80 THE SST---JUST TOUCHED THE 57.00 NUMBER TWICE AND SOLD OFF BUT WHAT A RUN

JASO---25.70 THE BTL---25.00 THE SST---THIS ONE WAS VERY STRONG AS WERE ALL THE SOLAR PLAYS GOOD SECTOR

AKAM---44.50 THE BTL---43.90 THE SST---SELL THE RALLIES FOR NOW IT WAS STRONG YESTERDAY BUT IT'S A SHORT

FSLR---69.00 THE BTL---68.35 THE SST---THE CHART LOOKS GOOD FOR SURE BUT THERE'S A GRAVESTONE DOJI THERE

NVDA---34.30 THE BTL---33.70 THE SST---HAD A SOLID EPS REPORT LAST NIGHT BUT WE'LL HAVE TO SEE HOW THEY PLAY IT

SMH---37.85 THE BTL---37.25 THE SST---WHEN IT BROKE OUT AT 36.00 IT WAS SUPER GOOD FOR THE SEMIS JUST NEEDS A REST

TXN---36.90 THE BTL---36.30 THE SST---THIS IS A VERY GOOD SEMIS STOCK FOLKS TRADES A LOT OF SHARES INTRADAY
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WE HAVE THE PPI THIS MORNING AT 8.30 AND THEN THE CPI ON MONDAY SHOULD BE FUN HUH?

I WILL NOT BE IN THE ROOM THIS AM. I HAVE AN MRI SET UP FOR MY HIP PROBLEM. SEE YOU AFTER LUNCH

HAVE A GOOD WEEKEND AND PLEASE ALL YOU GENESIS USERS THAT HAVE LOW CASH IN YOUR ACCTS YOU'LL NEED TO ADD FUNDS NEXT WEEK.

LATER

JERRY & INNA


Jerry Olson
The Jog Group LLC
[e-mail]