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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: thesilenttype who wrote (9654)12/2/2001 12:26:50 AM
From: mishedlo  Read Replies (1) of 99280
 
I agree,but with all the weakness and failures(DOW 10K for instance),INTC/IBM/MSFT/CSCO ain't going down.INTC is on the verge of breaking out big time in fact.I'm just plain worn out from these ramp jobs,dude.I'm sweating out every short,praying that they don't turn the ramp switch on.

If those guys ain't going down, well we just aint going down. I have been doing a bit of thinking on this. There are so many baet up sytocks that people are not buying.
But they are buying INTC CSCO and some of the other heavy index hitters like QCOM and EBAY. Wis 600 stocks or so removed from the NAZ and money coming in cause Nov-Apr is "the time to buy", the $ are chasing what is up, which fuels the index, which causes delta hedging against all the F*ckin calls people are buying, which means this nonsense can easily continue thru Jan.

The only catalyst I can see on the down side is Greenspan not cutting rates. That could cause a two week selloff.
More that likely, however, I am leaning and have for some time, Zeev's scenario #2. There is not a lot of time left for any kind of steep fall in DEC unless we start out Monday sharply down and drop Tuesday as well.

It seems more likely that they will try and get this FN index over the 200EMA and DOW 10K. We will see but this could be brutal to those holding shorts overnight.

M
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