Trading with Jerry Olson

[madrose1]

second since when did you become a chart reader?

Ah ....maybe when I saw the $SOX failing at 560?
Was that a pretty good "read" of the charts ?

You knew full well why that number was so important , and yet you igored it .
(And NVLS was over $40 and KLAC in the $60's ...and where did they wind up?)

I didn't just post charts to you , i mentioned it several times as well. You see I also ignore the noise , and try to think as well as observe. But sometimes I goof
when I try to get thru to you .<G>

When in denial , the first thing that goes out the window is authenticity. Just confess that they caught you and the momo leaning the wrong way , and move on. One can draw lines on charts support and resistance all the way down thru 10pt moves and print them out.
Does that make one a saavy TA person? Missing those moves, but still drawing lines on charts ?

Anyways back to the market ...CSCO & the networkers have really pulled back here . Not much catalyst other than CSCO may have a little farther to go and FDRY down all the way back to the 200ma. Both approaching RSI's of 30. They should be watched in here ....


regards.


PS: You will be very hard pressed to name any stock , even those lucky enough to bid up after eps ...that haven't pulled back significantly . You can't really name one . In these kinds of clearly defined trends of selling into strength and takin profits , was the most golden time to show people how to short after getting the earnings pop...in this sense Jenna has the best approach . Take profits , then short them after they pop, then you are not part of a squeeze but part of the profitaking after they have overreached, which is were & when
you want to be short .


Even Mickey Mouse pulled back, and BIG BLUE.