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

To: ajtj99 who wrote (9473)	11/30/2001 6:44:01 AM
From: ajtj99	Read Replies (2) \| Respond to of 99280

After looking at the NDX 60-minute, I think we may find support at NDX 1570-1575, and I think there is a good chance we close over NDX 1600 today. We may be looking at a repeat of Monday-Tuesday again next week (as well as a Wednesday drop possibility also). I'm closing my puts on weakness this AM. I am not going to fight the seasonal strength here. I probably have broke even over the last 2-weeks, but that's OK, considering the market has not moved but 10-points up over that same time.

To: ajtj99 who wrote (9473)	11/30/2001 8:21:11 AM
From: t2	Read Replies (1) \| Respond to of 99280

COMPX 200-day SMA now 1957, 20-day EMA 1863. They keep moving closer together. If we continue to consolidate and go up a bit from here, we could be set up for an epic drop in a couple of weeks. Aj99, Why can the Nasdaq not move significantly higher before we that drop you are making note of? What do you see as the next level of resistance beyond the 200 Moving Average. We may just be in a momentum market driven by some economic improvements and a very low short term interest rate that is probably starting to make investors take cash out of money market funds (which are at record levels)and into the stock market. Those type of asset allocation decisions have probably been made very slowly as the total assets in money markets seems to suggest. That is why I can the possibility of a continuing explosive gain in the Naz. "Momentum" is a word from the old bull market and may now be with us for a while longer. BTW--I am watching Intel against resistance at 32.5--think it breaks out. Also interested in what damage NVLS does to the chip equipment sector.