Thread, Sorry to be jumping off the China topic. It's very interesting. But I just wanted to get a quick update from the turnips.
Zeev,
If I'm not mistaken I believe the turnips were looking for a little bit more downside on the DJIA to around the 8600 level.
But now it's looking like maybe the summer rally may be starting before this pullback. At least that's what suddenly seems to be reported all over the net. Even one of the guys, Cousin Bob, at the Stocksite.com is now saying "summer rally." And of course Cramer at the Street.com is jumping all over it too.
So what does it look like to the turnips now? Still expecting a summer rally lasting about a month, to a month and a half, from here on out? Since we didn't get a large pullback, probably means not as quite a nice of a summer rally as most were hoping for, right?
After this summer rally (assuming it is going to happen), I'm definitely on the side of the turnips about a major September pullback. I think that the turnips were forecasting a summer rally, leading into a big pullback in September, and from there we can finally get on with our longer term bull market.
Did I get most of this correct? It wasn't to long ago I didn't care for turnips. Now it may be my favorite vegetable. :)
Thanks,
MikeM(From Florida) |
