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

To: Zeev Hed who wrote (3735)11/7/2001 2:05:59 PM
From: Frederick Langford  Respond to of 99280
 
Thanks for the quick response.

Fred



To: Zeev Hed who wrote (3735)11/7/2001 2:10:39 PM
From: ajtj99  Respond to of 99280
 
If we've had our local top, next stop could be 1757. If we drop below the 1740 level, 1682 would be the logical next step, as that is a 50% re-trace from the Sept. 21 low to a high today.



To: Zeev Hed who wrote (3735)11/7/2001 2:58:40 PM
From: Mike M  Respond to of 99280
 
Yes, I tend to agree that time rather than actual price target may be the determinant. Mid December is a likely period to review the price action. I will be interested in seeing what conviction the first corrective bounce will proffer and particularly interested in the reaction when/if 1750 is broken.

We are overbought and due for some backing and filling. The P/C ratio seems to be working its way back up from .39 and that suggests we may be topping as well.


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