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

To: ajtj99 who wrote (38257)	3/6/2002 5:50:39 PM
From: The Freep	Read Replies (1) \| Respond to of 99280

<<Sorry, INTC's update. I don't know what could be surprising about that, as some of the info's been leaked already. >> Well, that was true of MCDT yesterday, as well. <g> Thanks for your earlier response, AJ. I freely admit I don't know where the market's going here. That 10600 top on the Dow seems like a pretty weak bearish argument for containing this bounce. . . but the dow and now the S+P have run pretty hard without much meaningful retrace (the S+P in particular). And yes, I realize things can stay overbought for a loooongggg time, but a breather here probably helps the bull case more than hinders it, I would think. It'll be interesting to watch the rest of this week, regardless. the freep

To: ajtj99 who wrote (38257)	3/6/2002 5:54:14 PM
From: Zeev Hed	Respond to of 99280

No, it is not a specific event, few lagging indicator, for instance, while both the Naz and NYSE are higher today than on Monday, the new highs and volume have actually contracted, not a solid uptrend. The equity P/C ratio, while not in major "danger" territory (under .45) is approaching .5, and few other indicators are getting over extended as well. That is why I don't think we go straight up to the next box top (1934/40), but consider today's breach of the current box a mild aberration. Zeev