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	5/6/2002 11:19:46 PM
From: ajtj99	Read Replies (1) of 99280

Price action from Sept. 17-21, 2001: table.finance.yahoo.com Look familiar? It appears we may be in the "no bounce zone". I had to smack myself with a 2 x 4 tonight when I realized we are only a few days from breaching the NDX Sept. lows and meeting the COMP Sept. lows. The SPX lows are getting easier after today's candle. Look at the SPX during the same time frame: table.finance.yahoo.com Dow is not too far off either: table.finance.yahoo.com I guess my point is that the Sept. lows could be within days on nearly all indices. Some have already breached them, like the BTK. We are in the middle of a parabolic drop. We are getting a bit of fear, as higher option prices and the VXN and VIX attest. The fact that the SPX actually closed below a major support level leads me to believe that we will see the drop come to a conclusion this week. The SPX is below reach of Max Pain at 1100. QQQ is even too far from 32 to make it back in the current environment. The only solution is down. Don't try to overthink this. The direction and momentum of this drop has been swift and clear. There could be no re-traces, no bounces, and no long opportunities over the next few days. I think Zeev and George mentioned in February a possible 500 or 1000 point drop possibility on the Dow during a low. Don't rule that out in a panic low.

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