Good Morning all
RIMM blew all the numbers away, guided way up next quarter and announced a 3-1 stock split, wow is all I can say. Today we get the long awaited AAPL IPHONE launch that should be some event folks they're lined up at the AAPL store in NYC for days already. The FED did exactly as I assumed they would do, no change ion rates, but, and I do mean but. They opted to change their statement to tweak it a bit toward neutral. They removed the word "elevated" from the core inflation sentence and that's exactly what I was looking for last meeting. It seems I am one meting behind, or ahead not sure. There was an early morning bomb threat in London so the futures are muted as I write this update, we have a lot of important economic reports all day long to rock and roll the street. Crude has broken thru the $70.00 number heading toward $75.00 could be a partial negative, but remember we have the NYSE & SPX BP's rolling over and down 3 boxes and that's definitely a negative. There were doji's on all index charts yesterday as they actually almost broke out to new highs during the day. While I'm a bit more cautious right here because of P&F we still might test the top one more time. It really doesn't matter for us since we'll be in scalp mode anyway. So for all intents and purposes today into Monday will be a "Tell" for me as to market direction for July as we got past the FOMC and can now focus on earnings season. Over this weekend and into the 4th of July please take time off form trading, stop looking at the screen for a few days, don't even open your trading platforms and spend some quality time with family and friends. I will not be in the room this morning till about 11.30 am. I am taking off Monday into Weds, I'll be back in the room Thurs & Friday of next week, don't know why but I will be there. My newsletter and updates will be there as per usual. It's a good time to reflect on the first half of the years trading. You may need to change how you trade and think. Rest UP!
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QID---46.00 THE BTL---45.40 THE SST---STILL IN A DOWN TREND RIGHT NOW JUST SCALP IT USING THE FUTURES
NVDA---42.30 THE BTL---41.65 THE SST---MIGHT NEED A REST AFTER MANY UPGRADES AND A SWEET MOVE HIGHER
CROX---41.55 THE BTL---40.95 THE SST---MIGHT CATCH A BID IF WE ARE HEADING HIGHER TODAY IT'S DEEPLY OVERSOLD
AKAM---49.50 THE BTL---48.90 THE SST---VERY NICE DEVELOPING CHART PATTERN THAT SHOULD KEEP IT STRONG
DELL---28.60 THE BTL---28.15 THE SST---MIKEY IS BACK AND WORKING THE STREET NOW THE STOCK COULD GO HIGHER
SINA---41.85 THE BTL---41.30 THE SST---THE CHINA INETS ARE JUST DOING GREAT SOHU IS DOING GOOD TOO
CIEN---36.65 THE BTL---36.10 THE SST---JUST MARCHING HIGHER AND HIGHER AFTER A GREAT QUARTER LAST TIME
SMH---38.55 THE BTL---38.10 THE SST---THE SEMIS RESTED YESTERDAY BUT MAYBE THEY HEAD BACK UP TODAY
NVEC---34.05 THE BTL---33.55 THE SST---VERY LOW FLOAT BUT MENTIONED A FEW DAYS AGO IN IBD NEW AMERICA
SNCR---29.35 THE BTL---28.80 THE SST---COULD POP EARLY ON THE IPHONE PLAY BUT MIGHT BE A BETTER SHORT
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SEE YOU ALL LATER IN THE MORNING HERE'S THE ECO REPORTS FOR TODAY
Personal Income May
0.6% 0.6% -0.1%
Jun 29 08:30 Personal Spending May
0.7% 0.7% 0.5%
Jun 29 08:30 Core PCE Inflation May
0.1% 0.2% 0.1%
Jun 29 09:45 Chicago PMI Jun
58.0 58.0 61.7
Jun 29 10:00 Construction Spending May
0.2% 0.2% 0.1%
Jun 29 10:00 Mich Sentiment-Rev.
LATER ALL
JERRY & INNA
Jerry Olson
The Jog Group LLC
jerryo34@verizon.net
