Zeev's Turnips - No Politics Message Board

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

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To: Steve Lee who started this subject	3/25/2002 7:58:46 PM
From: ajtj99	Read Replies (3) of 99280

Lower BB on the COMP rests around 1750. We breached the middle BB pretty handily today. We did the same on Dec. 22, but the technicals were much better at that time (20-day SMA was above the 50-day, for example). I now believe we will touch the lower BB before any substantial bounce. The daily COMP and NDX indicators are not as oversold as some would have us believe. There is plenty of room yet to drop. The put/call ratio and the lack of a VIX spike of even 10% leads me to believe we could drop another 60 points before a good drive up. The seasonal strength we should be seeing on Thursday and Friday may not be enough to stem this tide. I think much of the window dressing will be confined to the strong Dow and NYA stocks for this quarter, as they are the ones that have performed the best relative to Dec. 31, 2001. The NDX targets could be 1381 and 1356. Full disclosure: I'm 100% cash right now.

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