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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: Justa Werkenstiff who wrote (15326)12/22/2001 12:12:08 PM
From: bobby beara  Read Replies (2) of 99280
 
No one seems to want to talk about the other side of the equation. What about the actions of the government and institutions in supporting the market that week? These people had an entire week to plan and drum up the patriotism to support that market in a deliberate and coordinated fashion. It will also be hard to duplicate that kind of effort again in that timeframe again. <<<<<<<<

Don't buy into the manipulation thing, the way other people do, the market is a giant crowd that switches it's thinking on a daily basis.

a 57 vix, a number of the oversold 10 day trin hitting at different times during the sell-off, a 10 day cboe put/call of 1, you have a washed out/sold out market, a rare buying opportunity that doesn't come along very often, people who have been bearish during this whole rally because the economy stinks or whatever have misunderstood the level of compression set=up with fear and capitulation meters at the levels above.

If you look at the nasdaq chart the nasdaq made a new low below the april low on after the market reopened and within two weeks of the bottom we were back above the april low on a gap

stockcharts.com[w,a]daclyyay[d20010401,20011222][pb21!b10!a1610][vc60][iUb14]

beartrap, everybody was shorting and buying poots and got caught on the wrong side of the market, the market made a new low but failed to hold those lows, thats the first time since the september top.

now that most of the bears have capitultated (the CFZ is now again on the hotlist after about a month hiatus) we are probably on the other side of the wheel o fortune.
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