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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: Zeev Hed who wrote (75570)6/6/2002 6:44:07 PM
From: ajtj99   of 99280
 
I see AMGN now about $41 in A/H. I was real surprised at the Bio weakness early today. That pretty much told us all we needed to know about where the market was headed near term.

I have 348-364 for near term support on the BTK, and it did bounce off 364 today. However, below 348 or so I see only air until 310 or so, with a blip at 335 or so.

I guess if the BTK drops to 350 at the open tomorrow AM, I have to believe it won't drop much below that the rest of the day. Next week may bring the 310 level if the carnage continues. Frankly, if we get part III in the end of the month, 290 BTK won't hold if we get to 310 next week.

Then again, the BTK might just bounce at some random level when the COMP decides it's done dropping.
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