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

To: t2 who wrote (10199)	12/3/2001 8:20:11 PM
From: lh56	Read Replies (1) \| Respond to of 99280

nv, you wrote, ...I am just playing the possibility that the level of short interest is getting high enough to prevent a selloff on the Nasdaq. from Teresa Lo's TrendVue daily market letter, "Daily Bar Chart of the NASDAQ 100 Index [$NDX] The NDX is still in a do or die situation. In order to hold the up trend, it cannot breakdown from here without jeopardizing the last swing low of 2001.11.21, the up trend line or the 20-day EMA. As discussed, since 2001.11.13 we have seen churning action on the daily charts, repeatedly trapping longs and ramming out shorts. At this point, our operating assumption is that longs have been patient and persistent, but the shorts have not had much of a chance to accumulate large positions; therefore, any loss of confidence on the part of the longs will now translate into sell orders that will not meet too many bids below meaning the potential to reverse strongly is there, lurking beneath." she's a pretty savvy trader. and the letter is free. -larry