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

To: Crimson Ghost who wrote (3552)	11/6/2001 7:47:42 PM
From: Joe Smith	Read Replies (1) \| Respond to of 99280

My hunch is that Zeev is still zipped into his bear suit. I would watch the 11/7 plus or minus 2 more closely than the number 1812 myself. Also note that the turn numers on KLAC, NVLS, and AMAT are not pierced yet. Message 16602773 On the sidelines...

To: Crimson Ghost who wrote (3552)	11/6/2001 7:54:00 PM
From: DlphcOracl	Read Replies (3) \| Respond to of 99280

George: Where can one see the McClellan Oscillators for the NYSE and NDX? Can you provide a link? Thanks.

To: Crimson Ghost who wrote (3552)	11/6/2001 8:07:03 PM
From: ajtj99	Read Replies (2) \| Respond to of 99280

The RSI is over 70 also. Interesting notes: The NDX also punched through the upper Bollinger Band. The put/call ratio ended today at 0.58 For some recent historical readings at local tops, I went back and found the following: Oct. 26 top ended at 0.53 Aug. 2 top 0.55 July 13 top 0.64 (previous day was 0.51) The June 29 closing high was 0.58. June 7 high was 0.57. (it was 0.53 June 1st, then went up) May 22 top ended at 0.60 (previous 2-days were 0.47) April 20 top 0.48. (the previous day was 0.47). As you can see, at 0.58 we are within the range that has been identified with local tops recently. Remember also that in most of these instances the high was an intra-day high, so the put/call ratio during the day may have been more extreme than the closing numbers here. The longest period this year I can see between extreme put/call ratios and a local top is the June 7th high, which had 4-trading days between the extreme put/call closing level and the local top at 2264. The one thing I can glean from this is that we are probably no more than 4-days away from a local top and most likely no more than 1-2 days. Once the put/call ratio drops below 0.60 on a close, it's like a ticking time bomb. Another interesting note is that we stopped at COMPX 1835.49, which is just off the pivot high of 1836.19 set on Sept. 4. The drops once the low closing put/call ratios are in range of 10%. If you believe we're going to 1940, that would put us back to around 1750. If you believe we're stopped short here, that would put us around 1650. That's a bit overly simplistic, but I wanted to put today's action in a recent historical perspective for those who are concerned about short positions (including myself). The technical indicators are saying this short covering rally is running out of wind. How far she blows is the mystery I'm attempting to solve. If we go up some more, it will be a better top, IMO. If we stop here, it may need a re-test before dropping more substantially. Anyway, that's my 2-cents, which is more than most would say this is worth.