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

To: bobby beara who wrote (15652)	12/22/2001 5:31:30 PM
From: Crimson Ghost	Read Replies (1) \| Respond to of 99280

BobbY: Agree it is too early to tell if NAZ has peaked. But where do you get the idea that people are bearish? VIX is 23 and VXN around 50. Surveys show near record bullish sentiment among investors and market letters. Wall Street equity allocation targets also are near record highs. Any remaining upside is dwarfed by downside risk at this point IMHO.

To: bobby beara who wrote (15652)	12/22/2001 10:03:17 PM
From: Justa Werkenstiff	Read Replies (1) \| Respond to of 99280

BB: Re: "...people who have remained bearish over the last 3 months have been fighting the tape." Nasdaq has gone essentially nowhere since November 19th as of close Friday so two months would be right. Anyone who has shorted the index above this level since then is in the black now. So I would say the last month the tape has been undecided. Re: "The good breadth on friday saved the 20 day moving average crossover sell signal on the naz summation index and if we follow thru next week with positive breadth it will turn the summation index back up." Waiting for that sell signal in the last two rallies would have been an error. It lags.