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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: TREND1 who wrote (16072)	5/18/2001 1:13:49 PM
From: Zeev Hed	Respond to of 30051

Zipper on th "ready" (g). I am even more concerned with the equities P/C ratio going under 40% and the DJX ratio once more vaulting above 5 (whatever that means (g). On the other hand, I am waiting to see if my list of breakouts continues to expand, IDPH just joined in the bio space, despite the rest of the group being mildly down. MERQ "printed" above $70 (now backing off $2 from there), and as long as that is happening, I have to keep the suit on. The fact that AMAT (and few other semi-equip) had a good chance of breaking down after the earnings report and did not is also contributing to my bullishness, together with VECO having broken the short term down trend (also in that group). Typically, such breakouts expand to the whole group. It has not happen yet, but I'll wait until next week before I decide that there is a "clear and present danger", that a visit to the tailor is required (g). If the Naz manage a closing above 2250 in the next week or two, I'll have to continue and wear the current garb...If it does not, well, it will not be the first time I changed my mind. After all, the turnips reserve the right to be wrong, change their mind and change it often (vbg). Gee, if they did not, who needs them? Zeev