Zeev's Turnips Patch-No Politics (ZEEV)

[yayaa]

Here's J's latest letter,ON TARGET,Can Q's@ 1.47


JERRY OLSON'S
"POINT" OF VIEW NEWSLETTER
DATED SEPT 2ND 2007
"THE FED CUTS NEXT MEETING"

Hello out there all my cyber trading buddies from around the globe. The Labor Day Weekend down the Jersey shore was nothing short of spectacular. Just a fantastic 3 days away from the war zone. Let's buckle up here i smell fun and games lying just ahead.

It is now my contention that the Fed will cut rates at this meeting only because the bond market has already reduced rates for them and the Fed Fund Futures seems to dictate the same. Add to that mix is the current uncertainty of this mortgage debacle which of course we have no clue either. But the question remains if the Fed is injecting funds almost daily it's a lot worse then we all know. The fall out may be a lot great then we suspect but all and all the onus on them to cut to show full support for the system and more. IN this case what with a potential of 3-4 cuts coming our way and the Point & Figure reversals back up of the bullish percent charts of the main indicators off historical lows, i would suggest you get long on every single pullback right up to the Oct-Nov possible re test of the lows, which is beginning to look doubtful now, and continue to buy right thru Dec/Jan. You will not get another good chance at this set up for years to come folks. So let some of those Benjamin Franklins lose and buy some stocks, options, or Etf's with that cash.

I got you out almost at 14,000, now i want you in for 15,000 coming our way in the very near future. You do not have to place all your funds into the abyss of the markets right now, but certainly once we get past the FOMC meeting on the 18th and we know the actual outcome of that meeting we can dive right in then and there. Even at this opportune time I'm going to suggest you place some funds into the Oil & Oil Services sector that I've been writing about for the last 2 weeks or so. The bullish percents have reversed up from deeply oversold levels with the stocks within the confines of that great sector correcting right to the recent lows. Buy with confidence buy with a solid gain in profits on down the road. We'll talk about 3-4 names in this newsletter below using call options out to the Dec/Jan strike month looking for 100% returns on our cash investments. We of course will use hard stop/alerts using the price of the stock for guidance. I remind you all that those of you that have traded with me for years now know i kept you in the long side of this game for almost 3-4 years now, buying all corrections all dips since we continue to move higher and higher each time we correct.

This time is no different. Think about this folks. Once the Fed does in fact begin to cut it's always 3-4 times in a row, unless they cut a full .50 basis points right now at the next meeting. Next we have this incredible field position of all the BP's telling us the Green Light is on, so go go go. We are heading higher now and during the perfect market time frame of the next 6-7 months once we get past Oct-Nov. It is imperative to not be greedy as we move higher, but to trail up hard stop loss orders all the way protecting your investing/ trading capital at all costs. As daytraders we can now see some good evidence that stocks are trending higher intraday at certain times giving us the opening to sit in that trade all day long using profitable trailing stops staying in the trade. As you already know short is the not the answer here. Buying dips intraday, or early gap down days is the prudent way to go. We make most of our money trading long. That will never change for me right now. So be prepared to "change" our trading processes as we move thru this wonderful upside opportunity that P&F has given us. This is not time to be complacent of course and in fact we are near some resistance on all the major index charts so we may pullback 1-2 days first before we resume the uptrend. Stay fast & loose with me!
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THIS WEEKS PASSWORD IS=========== fedcuts ===========one word lower case letters
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DJIA---WE ARE TOUCHING THE BRL(BEARISH RESISTANCE LINE) AS WE SPEAK SO MAYBE A 3 BOX REVERSAL BACK DOWN TO 13,250 THEN A BIG BREAKOUT AT 13,500, OR WE COULD JUST BLOW THRU THAT NOW THEN REST http://www.buyitbuyitsellitsellit.com/OJ1.gif

NASD-COMP---SAME SITUATION HERE TOO RIGHT AT R AT THE BRL LINE. LOOK FOR 2560-70 REVERSAL THEN MAYBE A QUICK POP OR IT BREAKS THRU THIS WEEK. http://www.buyitbuyitsellitsellit.com/OJ2.gif

NDX 100 INDEX---LET ME SAY RIGHT NOW THAT THIS INDEX HAS BEEN THE STRONGEST OF ALL MAJOR'S. IT BLEW THRU THE BRL LINE AND NEVER GOT LOWER THEN 50% ON THE BP CHART WHILE REVERSING BACK UP FAST. POWERFUL STUFF FOLKS FOR THIS INDEX http://www.buyitbuyitsellitsellit.com/OJ3.gif

RUT 2000 SMAL CAP INDEX---OK YOU LONG TERM INVESTORS ON A BREAK OF 808 AND NOT TILL THEN BUY A MUTUAL FUND AND/OR AN ETF THAT MIRRORS THIS INDEX OR WHATEVER FLOATS YOUR BOAT BUT THE SMALL CAPS WILL FOLLOW THE BIG CAPS UP HIGHER FOR SURE JUST LOOK AT THIS EXPLOSIVE CHART http://www.buyitbuyitsellitsellit.com/OJ4.gif

SOX INDEX SEMICONDUCTORS---LAGGING RIGHT NOW BUT SHOULD PLAY CATCH UP HERE NEEDS A LOT OF WORK TO MAKE THE MOVE UP- http://www.buyitbuyitsellitsellit.com/OJ5.gif

SPX 500 INDEX---BROKE A DOUBLE TOP LAST WEEK AS THE CHART IS SHAPING UP NICELY HERE http://www.buyitbuyitsellitsellit.com/OJ6.gif

VIX INDEX---CNBC IS ALWAYS TALKING ABOUT THE VIX INDEX WELL IT'S IN A HEAD & SHOULDERS(H&S) SET UP AND LOOKS TO TEST THE 200 EMA DOWN AT 16.00 http://www.buyitbuyitsellitsellit.com/OJ7.gif

ES U7 MIGHT TRY FOR 1500-15010 AREA BEFORE CORRECTING A BIT. 2010 IS R FOR THE NQ U7 FUTURES BUT THE CHART LOOKS NICE HERE. THE TLT LOOKS OVERBOUGHT TO ME WHILE THE 10 YEAR TNX CHART IS OVERSOLD. SO WE COULD SEE SOME RATES MOVE HIGHER NEAR TERM.

CL CONTINUOUS CHART CRUDE---IS AT HARD R AT THE BRL LINE AND IS DUE FOR A PULLBACK...WHILE GOLD IS RISING TOWARD HEAVY R AT 52 WEEK HIGHS AND WILL TAKE A LOT TO BREAK OUT OVER 690-700 AREA.

ALL AND ALL A VERY NICE PICTURE FOR THE FORSEEABLE FUTURE. THE WEELY MOMENTUM HAS FLIPPED BACK TO POSITIVE AFTER BEING NEGATIVE FOR 10-12 WEEKS STRAIGHT. THAT MEANS ALL THINGS BEING EQUAL WE LOOK VERY GOOD ON THE LONG SIDE BARRING ANY OUTSIDE CATISTROPHIC EVENTS.
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HERE IS A LINK FOR ALL DAYTRADERS FROM ONE OF THE ROOM MEMBERS TO USE FOR YOUR TAXES. REMEMBER IT'S UP TO YOU TO KEEP ALL TRADES ALL GAINS AND LOSSES FOR YOUR OWN TRADING ACCT. http://americanware.homeip.net/tk/
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password this week is fedcuts one word lower case letters
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ACH---68.15 THE BTL---67,45 THE SST---THIS IS IN AN EXPLOSIVE TRIANGLE ON P&F. A BREAKOUT OF 69.00 COULD SEND THIS STOCK UP TOWARD $100 OVER TIME. YOU CAN BUY THE STOCK AND WRITE THE COVERED CALLS FOR FEB 2008 AT THE 80 STRIKE. IF CALLED YOU'LL HIT A MAJOR LEAUGUE HOME RUN. THE PREMI'S ARE NUTS! TOO EXPENSIVE TO BUY, SELL THEM!

CHL---68.20 THE BTL---67.50 THE SST---ANOTHER WILDLY BULLISH P&F CHART ON THIS NAME SAME AS ABOVE HERE FOLKS BUT MAYBE BUY THE DEC 2007 70.00 CALLS AND HOLD ON FOR DEAR LIFE<G>

NVDA---51.45 THE BTL---50.85 THE SST---THIS IS OUR DAYTRADER LONG WHEN IT PULLS BACK FROM OVERBOUGHT FOLKS

AMZN---80.25 THE BTL---79.60 THE SST---ANY BREAK OVER 81.00 I WOULD TAKE A SHOT WITH THE JAN 08 90'S IN A BUY WRITE IF YOU HAVE THE FUNDS THE PREMIS ARE OUTREAGEOUS. IT'S PROBABLY GOING TO 100 SOON. BUT THE BUY WRITE IS THE DEAL

JASO---37.00 THE BTL---36.35 THE SST---THIS STOCK JUST BLEW THRU THE BRL LINE ON P&F THATS STRONG FOLKS

TSO---49.65 THE BTL---49.00 THE SST---ON A BREAK OF 51.00 THIS OIL STOCK IS GOING TO MOVE UP IN A HURRY BUY THE JAN 2008 47.50 STRIKE CALLS FOR AN EASY DOUBLE THATS 100% PROFIT BEFORE JAN...

MRO---54.20 THE BTL---53.55 THE SST---ON A BREAK OF 55.00 BUY THE JAN 2008 52.50'S OR 50.00'S AND LOOK FOR A TEST OF THE 52 WEEK HIGHS AT 67.00 A HOMERUN.

ERF---42.40 THE BTL---41.80 THE SST---THIS IS A LONGER TERM CALL PLAY OR BUY THE SHARES. THE WEEKLY MOMENTUM HAS BEEN NEGATIVE FOR 11 WEEKS NOW AND IS DUE FOR A CHANGE OF TREND, THE STOCK JUST REVERSED UP 3 BOXES OFF THE LOWS & IT PAYS A HEAFTY 11.00% YIELD AND IT'S IN THE OIL SERVICES SECTOR BUY THE APRIL 2008 40 STRIKE...IT DOES NOT MOVE FAST BUT IT COULD BE A SOLID WINNER. CHECK THAT WEEKLY CHART FOLKS VERY NICE.

CIEN---38.20 THE BTL---37.55 THE SST---THIS STOCK IS IN A CUP AND HANDLE RIGHT NOW. I LIKE IT TO TAKE OUT THE ALL TIME HIGHS OVER TIME BUY THE APRIL 2008 40 CALLS IT LOOKS VERY NICE BUT YOU WILL HAVE TO SIT FOR A WHILE.

SNDK---56.35 THE BTL---55.75 THE SST---AT LEAST ONCE A DAY WE SCALP THIS STOCK LONG I THINK IT HEADS BACK TO THE 52 WEEK HIGHS SOON.
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OK SO WE NOW ARE BACK IN FULL FORCE THIS WEEK AWAITING THIS INCREDIBLE FOMC DATE OF THE 18TH OF SEPT. BETWEEN NOW AND THEN THERE ARE TONS OF ECO REPORTS THAT COULD MOVE THE MARKETS ONE WAY OR THE OTHER..BUT FOR ALL INTENTS AND PURPOSES I THINK THE FED'S NEW FIGHT IS THE ECONOMY NOT INFLATION

YOUR TRADING LAST WEEK WAS THE BEST EVER FOR ME. MANY OF YOU ARE DOING MUCH BETTER TRYING TO COME TO GRIPS WITH THOSE URGES, THOSE DEMONS. KEEP THE TRADES DOWN TO A MANAGABLE FEW AND NOW START USING 200 SHARE TRADES NOT 100. PLEASE DO NOT TRADE 500-1000 SHARES IT'S TOO RISKY FOR ALL TRADERS RIGHT NOW. LET YOURSELVES GET USED TO MAKING $100-200 PER DAY EVERYDAY FIRST. I THINK IF YOU STICK WITH THE GAME PLAN THIS WILL ALL END PERFECTLY. GOOD LUCK TO YOU ALL I AM HERE RIGHT NEXT TO YOU TO HELP ANYWAY I CAN. MAN WE ARE ON FIRE!!!!!!

SEE YOU ALL IN THE ROOM, I'LL BE OUT FROM 11.30 TO 1.30 TOMORROW.

HAVE A NICE EVENING ALL

JERRY & INNA