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

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To: finntroll who wrote (56471)4/25/2002 3:35:43 PM
From: DlphcOracl  Read Replies (1) of 99280
 
finntroll: Along those lines.....

I recently read a report where a technical analyst looked at each of the 2000 stocks in the Russell 2000 Small Cap index this past weekend. He concluded that there were only about 100 with favorable chart patterns and 50 he would still buy at current levels. Equally important, the ones he thought were still "buys" had very small floats, trading 50,000 shares or less per day, which would be disastrous in a selloff.

My point: the Small Cap index has had an interrupted 40% run since 9/21/01 and this sector is at a peak. Just another sign that the market OTHER than the Nasdaq is due for a correction.
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