Replies to post #4846 on Trading with Jerry Olson

[Jerry Olson]

Morning all

I am heading down the shore for the next 5 days, I will not have my computer with me so a quick update for you before I head out for some R & R.

I do not like what I see out there on the candlesticks charts or the P&F charts going forward. IN fact I am no longer bullish. I am warning you all stop chasing upside moves in stocks only buy pull backs during a trend day up, and begin in earnest to watch for buying climaxes during the week. I saw many of those last week and thus the immediate alert to you all. A buying climax is when during the week stocks hit new highs or close to it and then by the end of the week they are at the weeks lows. That means the funds were selling into strength. Next there are 3 negative's for me on P&F since the NYSE---SPX---OTC all are now in O's meaning they reversed back down off major sell signals and should head a lot lower very soon. If you place a line at last weeks lows on "all" the index charts and set alerts right there, once they are breached go short ASAP. One last plea for all of you that have been complacent in your portfolio's, CASH is a great position right now, and so is selling stocks and protecting your assets. Buy some puts, write covered calls, but above all protect yourself please. Now you all know I am not an alarmist by any means, but I am a prudent trader and while I can be as bullish as ever, this is not the time to be rushing into the breach guns blazing into a major negative force right in front of your eyes. On the ES U7 any break of 1492 or the DJIA on a quadruple bottom break of 13,250 you get short in a hurry ok? Over the next 3-4 weeks we could see all the indexes touch the 200 day moving averages and you can look way down there to see those imposing numbers. Do not stand in front of this falling boulder if it does roll off the cliff. While next weeks shortened session might be bullish I would just be cautious and careful trading during the day.

I wish all of you and your families a wonderful safe and restful holiday please take some time off. The room is open for anyone that wishes to trade using the same password-------------------. You of course can invite a friend or trader into the room no problems with that. So everyone I am heading out of the door, I'll talk to you later in the week.

warmest holiday regards

jerry & inna
Jerry Olson
The Jog Group LLC
[e-mail]