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

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To: Steve Lee who started this subject4/29/2002 6:06:16 PM
From: augieboo  Read Replies (3) of 99280
 
TRIN Alert!? Ralph Bloch of Raymond James on CNBS re: TRIN Friday = 2.01 & today = 2.47. Says back-to-back 2+ readings always followed w/in 2 weeks by "a good, tradeable rally." (Says only exception was when the pattern was screwed up by Sept 11.)

Bloch has near-term targets of NAZ 1550-1600 and I can't remember what else. (Dow 9300 maybe?) (sorry)

Bloch says if we can go down fast with volume it could lead to a really nice rally. He seems to imply that if it's more slow bleed we could still rally, but it will be less than thrilling.

Also says just 'cuz we get down to his target levels, there's no guarantee there will be any buyers at those levels. Seems to imply that market could just drift for a while before heading farther down.

augie
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