Zeev's Turnips - No Politics Message Board

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

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To: Crimson Ghost who wrote (31880)	2/21/2002 5:01:49 PM
From: t2	Read Replies (1) of 99280

VIX closed at 25.8. I cannot see a significant bottom until VIX moves considerably above 30. Implies lots of downside from here (but not necessarily in a staight line) VXN not rising much either. Just can't believe it. P/C ratio not high. How much lower do we go on the Nasdaq? Techs look to be going towards a more normal valuation--similiar to other cyclicals. That might be a long way down though! Looks like a setup for more pain on the Nasdaq tomorrow unless some companies get aggressive with buybacks and/or increasing their repurchase plans. That may give the market participants the confidence to hold OR maybe it won't help either as we are in a post-stock market mania era. Maybe the Rydex funds are not contrarian indicators at all; shows a bit of panic--only a bit though. jmho

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