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

To: HairBall who wrote (35863)3/1/2002 6:31:29 PM
From: Zeev Hed  Read Replies (5) | Respond to of 99280
 
LG, I agree with you, I think that the 1600 (1638 or so) is the real support of the Naz (horizontal line) and that the late September breach of that line was an aberration. In the next major bear move, it is quite possible that that support at the low 1600 will be breached (I have that "potentiality" as soon as late June, and if post the spring rally we drop and hold, then we could have a breach in October.) Right now, such a breach is not in the cards, but if we continue declines as we had in February, without developing major capitulation (where da boys can really accumulate inventory <g>), then such a breach could really become a "clear and present" danger. I still think (until I change my mind) that the worst case will be stopped around 1300 (I have a 1296 nominal figure as the potential bottom right now).

Zeev



To: HairBall who wrote (35863)3/2/2002 12:08:10 AM
From: Vitas  Read Replies (2) | Respond to of 99280
 
>>the boyz<< were more short than they had been in 7 and 1/2 years:

decisionpoint.com

and the cumulative advancing declining volume line on both the NASD and NYSE broke down on 9/6, below March and April 2001 lows, to 1998 levels

and the triple summation slammation pattern was in place,suggesting a sharp sell off

and although "price/volume told the story", you apparently re-interpreted after that day's trading:

investorshub.com


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