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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: Zeev Hed who wrote (75274)6/6/2002 11:25:13 AM
From: Jdaasoc  Read Replies (1) of 99280
 
The lack of any upside gap tells me the crap is going to be pretty bad. Another 14K on unemployed list over last week contradicts any hope for quick recovery based on new claims data today.
We have passed critical mass of where total unemployed either receiving UI checks or those who have dropped off the radar screen since their benefits have expired to a point where credit card, and bank foreclosures can be expected. BKX at 844 on its way down to sub 800 before next leg up in market.

We can expect some short covering today to pare the losses but declines will begin in anew tomorrow.



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