Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: m1o2n3i4c5k6 who wrote (3543)	11/6/2001 9:13:58 PM
From: Zeev Hed	Read Replies (8) \| Respond to of 99280

I missed an exciting day, but looking at the chart, I probably would have done absolutely nothing (except possibly selling AETH on that run to $8.75 or so, but I probably would have not done t since that would have increased my cash position too much. I have not seen anyone commenting on two important numbers today, the NYSE tick went to plus 1250, a very extreme number. That number has two implications (together with yesterday's 1000 plus reading in the same series. The first implications, is that the post December low rally, should be really to da moon (maybe as high as 2100 by the end of January). The second implication is that very short term, however, that is an extreme which should be be followed by a retrenchment, but it may not be as sever as I originally had it. Not ready to change the original scenario, however a this time for lack of data on the nature of the retrenchment. Few major negatives, two of the Q are really breaking down, JNPR is becoming a basket case, and EMLX is weakening. CSCO did not go close above yesterday AH highs. Apart of a mild breach of the tops in the semi equip, by NVLS, all the "turn points held. My semi - equip canaries (CCMP and NEWP) are indicating the SOX is ready to make an above face, the same with MU which could not breach $25.5. Very short term, I now have a move to at least 1754 for a test, whether we go first to 1920/40, is now doubtful due to the extreme reading in the NYSE tick. If we breach 1754 in th next 5 days, the breakout we had today should be considered one of those "whipsaws". If we hold, reducing cash should be called for. For tomorrow, I have a "mark them down in the morning" and then another strong rally attempt. How far? Possibly even above today's close (ajtj99 had the 1850 or so, and I think he might be right) I knew the turnips will get their bad call sooner or latter (g). Zeev