Zeev's Turnips - No Politics Message Board

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Strategies & Market Trends : Zeev's Turnips - No Politics

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To: Zeev Hed who wrote (2105)	10/29/2001 9:47:52 PM
From: Jdaasoc	Read Replies (1) of 99280

NDX futures taking it on the chin AH @ 1357. That's about 2% off from 4 PM close of cash market at 1375. Not a trace a short covering to be found. Comp off 3.9% today; NDX 100 off 5.5% so today's move was futures led. If tomorrow is not as bad as today and we close above 1314 NDX -- the bottom of NDXs correction on 10/17 -- your Nov 7 rally is still a possibility. Wednesday would be good day for ST reversal like on 8/22. Pundits would view holding of 1300 NDX as sign of possible strength. Last but not least, why wouldn't this phase be viewed as a correction as long as the majority of the tons of money invested in last 5 weeks hasn't gone to money heaven. john

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