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

To: Logain Ablar who wrote (16371)	5/22/2001 10:06:51 PM
From: Zeev Hed	Read Replies (2) \| Respond to of 30051

Tim, I am not sure I understand Hays, the sentiment indicators are no worse than they were in late January. We made a new recovery high on the Naz, but the new highs list contracted. I already mentioned the VXN, VIX and the equities P/C ratio which reached .4 yesterday and is now turning (only .51 today). I'll wait for the test of 2250, but if you remember, my thesis was that 2250 will have to be conquered if the majority of participant are to be led to believe we are now in a new bull market, we did that and with spades (a very similar painting in January as well). If I am right and we go down for the count here, after the next decline will be a very unique opportunity to buy, since i still believe that the Naz will finish the year above its opening of the year, meaning above about 2900. Zeev