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 (86905)	6/26/2002 7:55:06 PM
From: ajtj99	Read Replies (1) of 99280

Zeev, in February, we had a re-test that hit 1728, which was within 1.88% of the low then. We did hit 0 on a closing basis on Brooke's CI's when we hit the original low, which was missing today too (they have been very good at nailing bottoms and tops). In February I believe we also got that 45-degree angle decline on the VXN chart after the low was in, another indicator that it was a pretty legitimate low. Today's VXN chart looked just like it did that day we gapped to 1495. This low is more extreme than the mild low in Feb, but less extreme to the lows in Jan., April, and Sept. 2001. I mention these lows because if we did just have a low that would stick, the re-test paramaters would compare decently. Furthermore, for a reversal with a higher close, you'd expect to see less carnage in the new highs and new lows. This shows the advance was mostly led by the large caps (MSFT), and as such could possibly be on wobbly ground. We'll see.

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