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

To: ajtj99 who wrote (1430)	10/24/2001 8:14:46 PM
From: ajtj99	Respond to of 99280

Well, after looking at the charts tonight, it appears we may be up from the get-go (first 15-minutes) to 1440 NDX (only 16-points away) and 1754 COMPX. I'd expect this to get sold quickly, and the daily and 60-minute charts seem to indicate we should consolidate for a couple of days before resuming our distribution. Maybe early Friday we'll hit an interim low and start climbing again. Rich's cycle guy has 3-low days in a row, so I guess if that happens we'd re-trace again on Monday. Certainly a possibility. 1388 NDX would be a .382 re-trace of the move off the low last week if we drop from 1440, so I'll be looking for that as a pivot point if we top and sell off. That also makes 1705-1706 COMPX a good level for a retrace too. Anyway, when Zeev suggests taking longs off the table now, it's pretty wise, IMO. 1754 is only 3% from his target top, and frankly I did not expect this rally to get beyond 1750 when I looked at the trendlines after the September low. Anyway, just how it looks to me right now. Good luck tomorrow, everyone.