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

To: 4rthofjuly007 who wrote (25215)	1/29/2002 2:02:47 PM
From: orkrious	Respond to of 99280

AA on the cfz-ewave board pointed out that vix spikes, the size of the one we have today, have been followed by double digit % advances in the compx Anyone going long here for a 10 or 15 point comp bounce that doesn't have the skills of zeev is nuts.

To: 4rthofjuly007 who wrote (25215)	1/29/2002 2:06:57 PM
From: Cactus Jack	Read Replies (1) \| Respond to of 99280

4rth, AA's percentages re: VIX spikes were the percentage move up on the VIX, not the following move up on COMPX. jpgill

To: 4rthofjuly007 who wrote (25215)	1/29/2002 2:07:52 PM
From: t2	Read Replies (2) \| Respond to of 99280

That is why I expect a positive close on the markets TODAY. That would confirm a "short term capitulation"...at least for the short or intermediate term. Remember this one point: The bulls have been saying the market went up too much too fast for a couple of months now. This is the bulls! That is why I think buying along with short covering will kick in. Anyone who shorted TYC in the high 40s would be insane to not cover even if they don't want to go long. (imho) Only if there is a chance of bankrupty would I want to stay short this one. Maybe even Chanos (who dislikes tyc stock) is covering.<g> The selling is just too strong for us not have hit bottom for the short term. As I say, I could be very wrong of course; picking bottoms is a risky game. JMHO> btw--notice the rumors; cnbc talking about wcom rumors. That is a stage for serious reversals in the market--being contrarian.