Zeev's Turnips - No Politics Message Board

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

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To: ajtj99 who wrote (9473)	11/30/2001 8:21:11 AM
From: t2	Read Replies (1) of 99280

COMPX 200-day SMA now 1957, 20-day EMA 1863. They keep moving closer together. If we continue to consolidate and go up a bit from here, we could be set up for an epic drop in a couple of weeks. Aj99, Why can the Nasdaq not move significantly higher before we that drop you are making note of? What do you see as the next level of resistance beyond the 200 Moving Average. We may just be in a momentum market driven by some economic improvements and a very low short term interest rate that is probably starting to make investors take cash out of money market funds (which are at record levels)and into the stock market. Those type of asset allocation decisions have probably been made very slowly as the total assets in money markets seems to suggest. That is why I can the possibility of a continuing explosive gain in the Naz. "Momentum" is a word from the old bull market and may now be with us for a while longer. BTW--I am watching Intel against resistance at 32.5--think it breaks out. Also interested in what damage NVLS does to the chip equipment sector.

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