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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: sylvester80 who wrote (8812)11/29/2001 3:38:41 AM
From: Psycho-Social  Read Replies (1) of 99280
 
Buy the Dips!
Not a permabull, but I believe a new bull market began from the Sept 21st lows. 1yr Nasdaq Bus Sent (2 1/2 to 5wk lead)is holding just under its highs of last week, but trader sentiment and similar measures of short-term sentiment showed an extreme overbought condition through last week. Therefore, we will decline maybe 8% to 12%on the Nasdaq, but not get anywhere near the lows of Sept 21st. History will show this was just a variation on the usual pattern of a new bull market beginning during a recession.
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