Trading with Jerry Olson

[madrose1]

Hi Randix ....have a fun day "knock 'em dead" ?


You know that's prolly what that headline does mean for INTC , the big Mid Q is in March but I
saw an earlier one too that was

<<<Intel Corp.-INTC 1pm business news update cc 2/26 sponsor Co" >>>

You know how I kept mentioning to Jerry about that huge dumping we began to see back in mid-Jan on the tape , and AMAT tried to rear up a second time making a lower double~top to the mid-high $24's .... that was giving me the roadmap for what lay ahead , combined with the constant selling pressure everyday on the giant INTC ....what was significant then was that HUGE resistance on AMAT then of $25 which has traditionally put AMAT at a prime Valuation in the best of times .

One of the maxims is also without further catalysts:

"if they can't push 'em up farther" , then they'll sell them back down "


Thru the noise surrounding and going into the weakness/doubt into NVLS CC now , I was taking my que off of AMAT to see how this scenario might unfold since it was somewhat in the clear from their eps report and guidance , and on the 23rd and 24th both dips to $20.90's were getting bought hard. This was what was giving me the confidence to see an early sell-off followed by a rebound today .

Jerry thinks he is the only one who can read a chart , but I think anyone can see at only a glance where AMAT here was getting support easily 3 times there on dips to $20.90's
http://stockcharts.com/def/servlet/SC.web?c=amat,uu[h,a]daclyyay[pb50!b200][vc60][iUc20!Lb14]&pr....


and you know I watch level II and the ecns as well and was right in the middle of that action , and was waiting each time the last few days for each dip there ...while watching the body language of the others .