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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (169)	10/11/2001 11:11:28 AM
From: ajtj99	Read Replies (1) \| Respond to of 99280

Zeev, 1987 had the closing low on Oct. 19 (intra-day low on the 20th), high on Nov. 6 (closing high Nov. 5) and the double bottom December 4th. Fast forward to today, and it looks like that's where we are, although a month earlier due to the September low. Furthermore, the end of October fund adjustments could bring the low in quicker. Technically, it would also be a legitimate double bottom. The strong buying the past couple of days should mean we'll pause for a bit before moving up any further. The WTC gap has been filled on the NDX and may possibly be filled today on the Nasdaq. The Dow I think needs to finish its gap yet, as do some other individual equities. Options expiration next week with Max Pain below where we are today combined with a pretty big gap-up to fill indicates to me the path of least resistance is down once the Nasdaq and Dow fill their respective WTC gaps. Ideally, these gaps would be filled on a closing basis, but I think intra-day may do it also.