Zeev's Turnips - No Politics Message Board

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

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To: Justa Werkenstiff who wrote (7841)	11/25/2001 12:21:42 PM
From: Zeev Hed	Read Replies (1) of 99280

Turning points are always tough to discern a priori (thus Larry reluctance to do anything but following a well established trend <g>), it could take but one or two strong days in the market to 'heal" that discrepancy between the VIX going down while the Naz has gone "nowhere". I happen to be in the camp that believes a short term turn, and a sharp turn for that matter, is more likely than the continuation of the uptrend, but I was of the same opinion before we breached 1815, and was wrong (g). While the 1920/40 was in the "forecast" on a breach of 1815, I did not think it would be "actualized" at that time. In the same manner, a breach of 1940 here will call for a move first to 2160 and then to the 2203/50 area. A breach of the May 22 high will be viewed by many as the arrival of the next bull. I just do not think these targets will happen in what is left of 2001. with AAII bulls at 58% and bears at 25%, a peak is definitely "imminent" (g). zeev

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