Zeev's Turnips - No Politics Message Board

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

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To: Zeev Hed who wrote (17445)	1/1/2002 9:03:53 PM
From: ajtj99	Read Replies (1) of 99280

Good grief, Zeev. I made a mental note to check the new highs/lows this AM, as well as advancing/declining volume. I forgot until you mentioned it. That is a pretty big divergence from the close yesterday. YHOO's inflated figures show 149 new highs Monday. That makes sense, as many small caps advanced while the big caps dumped. I believe the average investor will look at their portfolios as view them in the rose colored glasses they don from time to time, and plunge forward into the new year with optimism backed by the recent 50% surge in the Nasdaq. We may be range bound for a little while here still until a short covering rally or a drop on volume through support at the Dec. 20 low. A drop and double bottom at the 1918 support could be short term bullish, and should be anticipated, even if the bounce is just a small technical one. I expect Wednesday to be up, but only because of the dump Monday. Otherwise I'm cautious and watching all possibilities as things unfold.

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