Zeev's Turnips - No Politics Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Zeev Hed who wrote (12825)	12/12/2001 10:47:55 PM
From: ajtj99	Read Replies (1) of 99280

Zeev, I really think the funds and MM's have won this round. They've saved their year, insuring a nice inflow in January. The daily could be oversold by Friday, and we possibly could have further consolidation early next week before a move up in the end of December / early January. Notice how we have been dropping intra day, only to close in the trend on the Nasdaq. Tomorrow we have the PRU IPO, so that should hold things up for at least half the day. I closed shorts and puts this AM on weakness for even (I couldn't watch all day). I will be going long and getting January calls soon. I will wait and see if the COMPX gap at 1963-1980 gets filled before doing anything. NDX gap from 1631-1645 filled today. I'm not real comfortable with this situation, but we need another blow-off top to get bullish sentiment in the nosebleed territory. Furthermore, buying pressure should slow a bit once we get half-way into January. That will make a corrective move (read move to take out the Sept. 21 lows) easier. For now there are just too many hurdles - funds, 200-day SMA, trendlines, and indicators not quite there; to get us a selloff needed to break a wedge or correct to a 50% fib, IMO.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next