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

To: ajtj99 who wrote (10420)	12/4/2001 4:26:31 PM
From: Pierre	Read Replies (1) \| Respond to of 99280

2.123 eom

To: ajtj99 who wrote (10420)	12/4/2001 4:41:40 PM
From: t2	Respond to of 99280

Advancing volume was impressive, but short covering is impressive to watch. Agree about short covering. IMHO, we are in the early stages of this process; don't know how long it lasts but I am looking for about another 100 point move on the Nasdaq before we start getting a pullback. At that time, I might get a bit defensive. Don't know where it fits in the TA picture but I believe that the bear market TA may not be as reliable--the major pullback just does not happen and it is hurting many shorts right now. There is just too much as work on the bull side at this time including mutual funds getting out of tech and into other areas this past year. Supply/demand for tech stocks is also a major factor. I want to see more tech holding in the big funds as a contarian indicator. (an bad external event is all that concerns me at this time)