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

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To: DlphcOracl who wrote (24726)1/25/2002 4:48:06 PM
From: Zeev Hed  Read Replies (6) of 99280
 
I can only refer you to my comments on Hays analysis in the June/August period, he had exactly the same pattern, and at the time I was talking about a retest of 1600 in August (later replaced with the coalescence model and a low on Sept 16). I think that in terms of equivalence, we are now close to a week or two after the May 22nd high of that period last year. Hays completely disregards the string of 7 out of 8 days we had a Tick of more than 1000 on the NYSE, a sign of excessive optimism, disregards the sentiments indicators that are excessively in bull camps (thus bearish), and disregards the fact that in the last few days we had excessive "Mosis buying" of calls, the equity P/C ratio hit .38 yesterday, and bounced to only .6 today, despite a negative market most of the day. The most I see is a mild run to 2011/40 followed by a miserable February. I am almost ready to shout like last year, "be out no later than 2:30 PM on January 31st".

Zeev
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