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 (17772)	1/2/2002 6:48:36 PM
From: ajtj99	Read Replies (2) of 99280

The equity put/call dropped towards the end of the day to below .60. That could possibly indicate we're going to be range bound without a breakout above 2012 this week. Rich's Carpino cycle high on Friday seems about right, as we could be pushing up against the top of that range soon if this continues tomorrow. Close on the high should give some a chance to get in at a discount tomorrow early if you think this thing's got some legs. VIX and VXN dropped down again, pretty much negating the intra-day spike. NYSE Tick hit +1100 today, which is pretty strong. NYSE has strong resistance not far from where it's at. I recall 595 and 600 being pretty fair overhead resistance on the NYSE, and it closed at 590. Zeev, I've got to hand it to you. You seemed to catch most of those falling knives today. I was not as certain as you that the test of 1934-1941 was finished. So far in the last 10-sessions we've gone 2011-1918-2002-1935-1979. A breach of 2002 would be a bit bullish, but a breach of 2012 on volume would be the real thing that could get us back close to 2065, IMO.

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