Trading NASDAQ stocks with Jerry Olson & Ian Hodgson

[wheezergeezer]

Eurotrader 52,
I second Samtron's post, thank you for your excellent input,

 

[Grey1]

Mr Market 0 Grey1 $ 1149

I have not finished yet. I be doing more business my way with Mr market .

Sorry about that screen capture thingy . just noticed it

 

[eurotrader52]

GS squeaking, SNDK as usual, ADBE looking good, a new short: GRMN

Euro,

Thanks for taking all the time and effort it must take to make you postings.

Its great to see traders willing to share their thoughts in such a genuine and detailed manner.

Keep up the good work

You're welcome posting the charts keeps me focused as well. GRMN is another hugely strong stock that might be following in the steps of its predecessors, MLM, EXPD and SLB.

 

[eurotrader52]

GOOG 380 puts hit nicely to 378. Bought 390 calls @ 3.15

After many days in each of the first 390 then the 380 puts, its time to start a smaller position (not more than 15 contracts) on the GOOG 390 calls GOPFR (these are the June expiration so this would be a trade only through Friday) July calls are not cost effective.

 

[eurotrader52]

GS 150 puts up in @ 5.90 out @9.60 (GPYRJ)

GS locking in on 3/4 (30 contracts) position of puts target for GS is roughly 138 but 140 is strong support.

 

[eurotrader52]

AAPL good buy above the 58 area (mid point "W" formation) for a daytrade

Next resistance is 59 (50% of pullback from 6-09) to 59.60 62% of pullback

 

[eurotrader52]

GOOG if GOOG continues this upside we might see 390 today

Go GOOG! Shorters are always the first to recognize the reversal patterns for a change of trend and latch right onto it.

 

[eurotrader52]

AAPL starting to see topping tails in 58.75-85 LOCK IN

Next resistance is 59 (50% of pullback from 6-09) to 59.60 62% of pullback

Looing toppy here as AAPL is forming a consolidation pattern here between 58.50 and 58.75 a drop below 58.50 might be shortable a rise above 29 (unlikely though might reach 59.60 or so) so watch where this consolidation pattern resolves itself.

 

[eurotrader52]

PHM and KBH "short the rally" plays.

Futures and market internals will help to know how much to expect o the short side from the intraday building sector. Because I already know WCI (intraday chart doesn't even have any signs of recovery) has called slower earnings, you just know rallies will be shortable because no 'real' money will be pumped into these losers.

PHM rallies are shortable but stops should be in place. Now if KBH goes the way of WCI (which I expect it will by Friday morning) this will add the confidence needed to continue shorting KBH at any future bounces. For us, a good earnings report at this time of year will catapult the technical chart higher and so rallies in strong companies like GOOG will be quick and powerful, whereas a bad earnings report will generally lend itself to a shortable rally in that particular sector. Its the confidence (like holding SLB puts for the second week running) that the weakening sector will continue to show weakness after relief rallies. If your confidence is misplaced, there are always the stops well which are lowered and lowered and well into your profit zone by now. Confidence based on just a little knowledge of the markets leads to a strong 'psychology of trading' and not jumpy fearful decisions to cash in on just penny trades when the "meat of the trade" is right there.

 

[Grey1]

Very difficult to trade to day due to market going through heavy consolidation . I have not been able to top my winning since this after noon as there is simply not enough Reward/Risk Justification to take a postion .
I wonder if market gets its act together and moves later.

Grey1

 

[Grey1]

Well .. Market moved only 9 points down and VWAP engine kicked butt to give a profit of $1947. saying that there is still no bargains in the market due to heavy consolidation

 

[Jerry Olson]

My Gold futures call 568

missed by $.50 cents...........................


Close Window



Live In Play


13-Jun-06
13:38 Gold closed off a whopping $43.80 to $567.50 an ounce while silver fell $1.45 to $9.62 an ounce on the COMEX






Close Window

 

[Jerry Olson]

the buck & the euro

i said long the buck ansd short the euro 1-2 weeks ago right here in print

buck broke out euro broke down on P&F as advertised

we nailed aapl all morning longside and then went to lunch............... :cheesy:

 

[eurotrader52]

"W" formation on select techs (GOOG, AAPL) watch for ....

breakouts of consolidation later in the trading session (2:30 -3:30) Remember the direction of the break from these doldrum consolidation patterns will determine the trend later in the session. For those that already made their few bucks today, I would just wait for 3:30 and get onto an "anticipation" trade for a possible morning gap up or down (depending on where we close) My choice would be the QQQQ but watch those Nasdaq and Dow futures for confirmation.

 

[eurotrader52]

GRMN good as continuing short

Well .. Market moved only 9 points down and VWAP engine kicked butt to give a profit of $1947. saying that there is still no bargains in the market due to heavy consolidation

Totally agree, If you want to trade look for breaks of consolidation to upside or downside probably in the 3:00 area. Nice money to be made on breakouts of AAPL and GOOG. GRMN looks good as a continuing short

 

[Jerry Olson]

i said long the buck ansd short the euro 1-2 weeks ago right here in print

buck broke out euro broke down on P&F as advertised

we nailed aapl all morning longside and then went to lunch............... :cheesy:

Oh yeah almost forgot 2 for 2..................... :cheesy:

CL-N6---JULY CRUDE---THIS CHART BROKE A SPREAD TRIPLE BOTTOM AT 69.50 AS ADVERTISED. IT RALLIED UP LAST WEEK TO THE MIDDLE OF THE 10 WEEK I WOULD SHORT IT HERE. 68.00 OR LOWER COULD HAPPEN SOON

 

[Jerry Olson]

Oh yeah almost forgot 2 for 2..................... :cheesy:

CL-N6---JULY CRUDE---THIS CHART BROKE A SPREAD TRIPLE BOTTOM AT 69.50 AS ADVERTISED. IT RALLIED UP LAST WEEK TO THE MIDDLE OF THE 10 WEEK I WOULD SHORT IT HERE. 68.00 OR LOWER COULD HAPPEN SOON

here it is

GC/---THE FUTURES FOR GOLD---ULTIMATE TARGET IS 568. IT MIGHT BOUNCE HERE TOWARD 630 BUT I WOULD SHORT THAT WITH IMPUNITY. IN FACT INNA AND ME ARE GOING TO OPEN A FUTURES ACCT IN THE NEXT FEW WEEKS WE LIKE THE IDEA OF SWING TRADING COMMODITIES & CURRENCYS RIGHT NOW.

 

[eurotrader52]

There we go GOOG breaks intraday support (see chart)

Here is why I like the 2:30 to 3:30 time area because consolidations lead to breakdowns for the most part. GOOG has not made it although it has been good for a strong intraday rally. I do not short GOOG (to insanely expensive) so I must make do on waiting for another rally (390 calls were profitable but I would have wanted more meat)

 

[eurotrader52]

short plays: GRMN, PHM, KBH, GS (awesome today as it breaks 140)

Here is why I like the 2:30 to 3:30 time area because consolidations lead to breakdowns for the most part. GOOG has not made it although it has been good for a strong intraday rally. I do not short GOOG (to insanely expensive) so I must make do on waiting for another rally (390 calls were profitable but I would have wanted more meat)

GRMN might be a "take home" part of this short play. I would like to get more gains on the short side of GRMN. GS holding some puts for more gains but not holding any GS short overnight. My target for GS 137-138

 

[Jerry Olson]

DJIA---VERY SIMPLISTIC IF YOU ASK ME. A PRINT OF 10,750 AND WE GET SLAMMED RIGHT TO THE 10 WEEK AT 10,550 I THINK IT CAN AND WILL HAPPEN PRE FED. http://www.buyitbuyitsellitsellit.com/OJ1.gif

COMPX-NAZ---THE BOTTOM OF THE 10 WEEK IS AT 2080, THE OCT 2005 LOWS ARE 2040 WEEKLY MOM IS NEGATIVE AT 7 WEEKS RIGHT NOW!

NDX---NEG MOM IS NOW 5 WEEKS AND THE BOTTOM OF THE 10 WEEK IS AT 1520 LET'S SEE WHAT TRANSPIRES HERE. THE BP NDX IS AT 34% AND RALLIED UP 1 FULL POINT ON FRIDAY SHOWING REMARKABLE RS IF YOU ASK ME. RS=RELATIVE STRENGTH. http://www.buyitbuyitsellitsellit.com/OJ2.gif THIS IS THE CHART OF THE BULLISH PERCENT

SOX---NEG MOM 5 WEEKS NOW, THE BOTTOM OF THE 10 WEEK IS AT 425, AND THE OCT 2005 LOWS ARE AT 415 THAT'S THE SOX LOWS IF YOU ASK ME.

BTK---THE BIO TECH INDEX MOM JUST TURNED POSITIVE IN ALL THIS MESS LAST WEEK. WE NEED TO CLEAR 675 FOR THIS INDEX TO START A NEW RUN HIGHER. 640 IS TRIPLE BOTTOM SUPPORT.

HUI THE GOLD BUG INDEX---THE RS JUST TURNED NEGATIVE ON THIS INDEX. IT'S NOW A SHORT ALL RALLY TYPE SET UP. ULTIMATE TARGET IS 272 THE BOTTOM OF THE 10 WEEK. WEEKLY MOM IS NEG 4 WEEKS AND WILL CONTINUE. http://www.buyitbuyitsellitsellit.com/OJ3.gif

GC/---THE FUTURES FOR GOLD---ULTIMATE TARGET IS 568. IT MIGHT BOUNCE HERE TOWARD 630 BUT I WOULD SHORT THAT WITH IMPUNITY. IN FACT INNA AND ME ARE GOING TO OPEN A FUTURES ACCT IN THE NEXT FEW WEEKS WE LIKE THE IDEA OF SWING TRADING COMMODITIES & CURRENCYS RIGHT NOW.

CL-N6---JULY CRUDE---THIS CHART BROKE A SPREAD TRIPLE BOTTOM AT 69.50 AS ADVERTISED. IT RALLIED UP LAST WEEK TO THE MIDDLE OF THE 10 WEEK I WOULD SHORT IT HERE. 68.00 OR LOWER COULD HAPPEN SOON

SPX---JUST HAD IT'S SECOND SELL SIGNAL THAT'S NEGATIVE. 1270 THE 3 BOX REVERSAL BACK UP TOWARD THE MIDDLE AT 1290-95 AREA. THEN MAYBE DOWN TO 1210 OR SO FIRST. NEG MOM IS AT 5 WEEKS.

ES U6(SEPT FUTURES CONTRACT) LOTS OF SELLERS STILL IN THIS NEW CONTRACT ONLY 4 WEEKS OF NEG MOM RIGHT NOW. THE NQ U6 IS REALLY THE KEY NOW. NEG MOM FOR 14 CONSECUTIVE WEEKS AND IS DUE FOR A MAJOR TURN SOON. 1550 THE BOTTOM HERE, A BOUNCE TOWARD 1630 IS DOABLE. I HAVE WATCHED THIS CHART WITH INTEREST EVERY MAJOR DOWN MOVE HAS BEEN COUNTERED WITH A SOLID UP MOVE. WE ARE DUE FOR THIS RIGHT NOW. http://www.buyitbuyitsellitsellit.com/OJ4.gif THERE'S THE EBBS AND FLOWS OF THE O'S AND X'S

WE SHOULD GET SOME RELIEF THIS WEEK ALBEIT A WEAK ONE UNLESS THE NUMBERS ARE SOFT WE SHALL SEE.
======================================================================================================

the charts might be different...