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

To: Robin Plunder who wrote (41337)	3/17/2002 6:30:08 PM
From: Justa Werkenstiff	Respond to of 99280

Robin: Re: "Perhaps AMAT looks sort of healthy." This has been a semiconductor and semiconductor equipment lead rally phase as evidenced by the Sox. It looks as though the market has gotten whiff of a blip up in business. Re: "Most of these charts look about as bad as they have looked since early 2001. It is hard to see how they could signify anything but the current rally being a reaction preceding the continuation of these bearish charts." I agree. This is not a broad based rally in technology like we saw from the September "bottom" yet. But, you know, if there is rotation out of the broader market into tech., then thing might change for a spell. Nevertheless, I do not think any such rotation will last but will represent a small footnote in the continuation of the bear market IMO. Re: "In order for the nasdaq to go to 2050-2100, these charts would need to rise back to the top of the head and shoulders, which seems very unlikely." Well, we got to mid 1950s without such an event so some breakouts here and some weaker chart bounces there could get us there I suppose. Re: "According to Edwards and Magee, a good shorting point in the chart is at the top of the reaction to a head and shoulders or double top....is it time to go short?" You might get a bounce into the FOMC and you could go short then at better prices. I am short now, fwiw.