Replies to post #4753 on Trading with Jerry Olson

[Jerry Olson]

WE NAILED IT TODAY FOLKS ALL THE WAY

Good Morning all

The markets seem ready for 1-2 day pull back starting right now. The steam has slowed a bit and looks like we'll get this relief correction to help take that euphoric street mentality move down a notch or two. I am not looking for anything serious but we should make sure it does not move into a full blown correction. In fact if we get lucky and we hold some local support levels then the next best move will be a lot higher then where we are right now! There is several emerging chart patterns on P&F for the main indicators bullish percents. First the OTC BP is nearing a double top at 58%, any print of 60% would be a new improved buy signal for the whole tech market. Next yesterday the OPTI BP broke a double top at 70% giving a new buy signal and that means higher prices on down the road. This BP leads the "other" two up and down so if this is breaking out so will the others. What does this mean to you and me? It means buy all dips till the trend changes, we can short intraday only and never hold shorts overnight ever. In fact as you know we are not holding anything overnight since we like to sleep like babies and holding stocks is too risky for us. There are two other internal factors that have me bullish today and that's the TNX 10 year yields. There is a potential for a breakdown on the chart at 46.50 to 46.25 sending rates toward there recent lows. At the same time I've been yakking about the "bonds" since they are coming off the bottom giving the second buy signal heading back toward 112.50. I have mentioned to you when the stock and bonds are moving up together it makes for a powerful interaction that usually has stock prices moving a lot higher over time. Since we are daytraders, we take things one day at a time, there is not change to my thought processes right now, so stay the course and please use stops.
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WFMI---41.00 THE BTL---40.40 THE SST--- THEY HAD EPS LAST NIGHT BUT CAME IN SO SO GOT UP'D THIS AM?

JOYG---54.20 THE BTL---53.60 THE SST---SENSATIONAL CALL IN THE ROOM BY STANN8 WISH OTHERS WOULD CONTRIBUTE

VLO---58.20 THE BTL---57.60 THE SST---WE HAD A GREAT TRIGGER YESTERDAY BUT ONLY ONE PERSON TOOK IT???

ONXX---28.30 THE BTL---27.60 THE SST---THIS STOCK IS VERY OVERBOUGHT MAYBE A NICE SHORT OVER THE NEXT 2 DAYS

HANS---38.25 THE BTL---37.65 THE SST---GEE WHIZ WE DID GREAT WITH HANS BUT THAT LAST TRADE FOOLED ME LATE

SNDK---40.15 THE BTL---39.50 THE SST---I WOULD TRY A SHORT ON ANY POP THIS MORNING IT;S WEAK FOLKS

TASR---8.80 THE BTL---8.55 THE SST---LOTS OF NEWS AROUND THIS OLD NAME MAYBE A POP TODAY???

CROX---54.35 THE BTL---53.70 THE SST---GOT WHACKED YESTERDAY OFF A SENSATIONAL EPS REPORT BUY THE DIP

BRCM---35.95 THE BTL---35.30 THE SST---SITTING AT HARD R NEAR THE BRL LINE COULD GET HIT IF WE PULL BACK

AMZN---41.60 THE BTL---40.95 THE SST---COULD BE A NICE SHORT IF WE ROLL OVER TODAY THE INETS WERE SO SO YDAY
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OK EVERYONE JUST FOR FUN TODAY LET'S TRY TO KEEP WHAT WE MAKE OK? IF YOU REFUSE TO USE STOPS OR AT LEAST MY 20 CENT THRESHOLD FOR LOSSES AND GAINS THEN YOU ARE GOING OUT OF BUSINESS FAST. THINK ABOUT THAT!

SEE YOU IN THE ROOM

JER & INNA