Good Morning all
since my computer is in the shop i'll post my pre market update right here for today.
The markets consolidated for 2 days on light volume with little pressure to the down side. I always say if you can't take it down, "they'll take it U"! There is a certainty we'll breakout to all time highs in many of the indexs today or at least this week. I was a bit concerned about the days leading up to the FOMC meeting next week, but it seems the steet is fully informed thanks to Gentle Ben, and now that yields are coming back down to earth, while the T-Bond Futures & the TLT have reversed back up here off very oversold conditions that i mentioned last week, this alone cold propel the markets higher.
The charts we're completely on opposite sides of the street and needed to correct their excessive oversold/overbought prices. At the same time the McClellen Osc was deeply oversold too and all of this made for a nice reversal in the markets. Now that we have gotten this slight pullback breather i'm suggesting we're ready to move up very quickly trapping the shorts "again" and moving the markets well above the current consensus of where the "top" is for now.
It seems to me traders are in disbelif about the incredible strength in the markets right now, and at these lofty levels. I suggest everyone take a step back and just look and read the charts. They are saying to me we are heading much higher and right now. So we'll be buyng the dips as i've told you for the last 12 months, nothing has changed for me as of this date, and until it does change i am staying long and strong.
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QID---46.05 THE BTL---45.40 THE SST---HEADING MUCH LOWER OVER TIME THOSE THAT HELD LONG WITHOU STOPS WILL FEEL SERIOUS PAIN
NVDA---40.25 THE BTL---39.65 THE SST---LEADING THE SEMIS SECTOR HIGHER ON GOOD NEWS LATELY HAS LEGS FOR MUCH HIGHER NUMBERS
SNDK---47.95 THE BTL---47.35 THE SST---BROKE OUT THIS WEEK AND LOOKS LIKE IT'S HEADING FOR 49.00 OR SO SHORT TERM NICE CHART
CROX---45.70 THE BTL---45.10 THE SST---EVEN AFTER IT SPLIT 2-1 IT HAS THE STREETS INTEREST SHOULD CONTINUE TO RALLY WITH THE MARKETS
NFI---10.20 THE BTL---9.80 THE SST---THE BEST 10 BUCK STOCK I HAVE EVER TRADED, WE ARE KILLING IT EVERY SINGLE DAY
JASO---29.90 THE BTL---29.20 THE SST---SENSATIONAL TRADE YESTERDAY BUT GOOD GRIEF IT EXPLODED WAY OVER OUR EXIT UNREAL
CMED---31.95 THE BTL---31.35 THE SST---WE NAILED THIS NAME YESTEDAY AS IT CONTINUED UP FOR THE 2ND STRAIGHT DAY
EFUT---20.90 THE BTL---20.30 THE SST---HOLY COW BATMAN WHERE THE HECK DID THIS ONE COME FROM??? MAJOR POP YESTERDAY FOLKS
CREE---26.00 THE BTL---25.40 THE SST---VERY NICE DAILY CHART SET UP THIS SEMIS IS IN PLAY NICELY
TASR---12.90 THE BTL---12.40 THE SST---WE NAILED THIS ONE YESTERDAY TOO, OUR JAN 2008 STRIKE 10 CALLS ARE LOOKING SENSATIONAL
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I'LL HAVE MY COMPUTER BACK LATE TODAY OR ON THRUS AM SO ANY ONE THAT WISHES TO E-MAIL ME PLEASE USE INNA'S E-MAIL ADDRESS AT
INNA678@VERIZON.NET
HAVE A GREAT TRADING DAY...BTW ONE TRADER HELD HOME DEPOT OVERNIGHT SELL IT IMMEDIATELY AT THE OPEN THIS MORNING..
LATER
JERRY & INNA
