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 (44222)	3/26/2002 9:56:52 PM
From: DlphcOracl	Read Replies (1) of 99280

One More Rally One can talk about the low VIX and VXN, etc., but the most impressive thing this month has been the lack of significant earnings warnings. With easy year-over-year comparisons, I think earnings will be better than many expect. They will not be blowout earnings, but I think they will be enough to sustain a 5-10% rally which will end by May 1st. I, too, think 1820 is support which has been successfully tested twice on the NAS -- the slight overshoot to 1810 is of no significance. I am playing the monthly "strength" period from 3/27 through April 4 with the UOPIX leveraged shares. If we break below 1780, I exit. Otherwise, I'm holding for a week and reevaluating April 4th. There is an outside chance that a rally will trigger massive short-covering and take the Nasdaq near 2000. I do NOT see any rally taking the Nasdaq past 2100, the early January 2002 high. After this mini-rally, it will be "chop-and-drop" with a trading range lasting to October or November, with a downward bias. Just my thoughts, FWIW.

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