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

To: orkrious who wrote (25137)	1/29/2002 1:22:27 PM
From: Justa Werkenstiff	Respond to of 99280

Ork: Re: " just placed my bet, and it's a large one. this market is being sold." In after hours last night, I took my own thinking to heart in my trin post and sold all longs to unlock my hedge and went short. One word of caution. I tried to short the SMHs this morning through my brokerage and they said there was none available to short. I don't like hearing that. Re: "I had thought they'd wait until after the fed announcement. check out the bkx." I was thinking the same thing until yesterday. Look, there were three days of no price appreciation on the Nasdaq and this morning makes four. Doji nowhere days. If you look back to March and August like I had posted, you would have seen the same thing. Distribution. The market was acting the same way it had with previous ten day trin signals before the EOM sell off and so I had to go with it. I figured, correctly it seems, that the FRB meeting was the noise and the market would have bottomed last week if the FRB meeting was then, as it had done in March and August. I figured the ten day trin signal was the overriding factor at play and that the FRB meeting should be ignored. The VIX and VXN crash yesterday with no price appreciation was icing on the cake. Sure, TYC helped, but it would not have taken much of anything to roll this market.