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

To: TREND1 who wrote (35032)2/28/2002 6:04:14 PM
From: westpacific  Read Replies (3) | Respond to of 99280
 
If we do not hold 1695 (the low put in last week), I agree - NASDAQ has no support till the lows at 1387!! Could be setting up for big drop. Look at todays action in NAS, upside vol 550M shares, downside volume 1.33B shares. Cisco has wiped out 500B, 8 (eight) times the amount lost in the Enron collapse.

Action does not look like they are buying ready for a bounce only 30 pts away.

West



To: TREND1 who wrote (35032)2/28/2002 6:10:22 PM
From: LTK007  Read Replies (2) | Respond to of 99280
 
i feel the need to achieve bear market evaluations will demand we go lower than 9/21, Larry.
i feel history's pattern is bears don't end until stocks get priced into bear market levels.SPX P/E of 12 or 15 to 1 would satisfy me.(that being on a trailing earnings basis).Max


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