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

To: Zeev Hed who wrote (26671)	2/4/2002 12:01:02 PM
From: LTK007	Respond to of 99280

cripes the upgrades pouring on semi-equipment today is so blatant by "THEM" ---aargh:)

To: Zeev Hed who wrote (26671)	2/4/2002 12:09:35 PM
From: Justa Werkenstiff	Read Replies (6) \| Respond to of 99280

Zeev: Re: "Look at the slew of semi-equip updates, these surely are not particularly rational as many of these are at their highs. Similar tactics may be used to by "THEM" to try and print 2000 on the Naz and 10000 on the Dow, I think it would be a fake, and despite few "forced" doublings here, I am still above 50% cash. " I view this quite differently. I view the Sox as overbought on all measures. And despite a desperate attempt by the houses to distribute these shares at higher prices this morning, it is being faded. So the Sox looks spent after all the happy bullets have been fired the past week and seems to be sucking capital from other sectors for now. See BTK. And sucking capital from the Sox to put to use elsewhere is not going to get us to 2000 because there are no real inflows. And in my view, the Sox must break hard before a meaningful bottom is formed. I now see the distinct possibility that grows each day the lows will be visited by the end of this month or early March. The Sox break may signal the beginning of the end and the fact that it has not broken makes it the odd man out in my eyes and not necessarily a positive sign that this sector will lead any rally to 2000 at this point. It suggests to me there is more down to go when it goes. I still hold by my projection of a new low on the NDX before this bear market is all over.