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

To: Ron Dior who wrote (48447)	4/8/2002 1:59:50 PM
From: 4rthofjuly007	Read Replies (1) \| Respond to of 99280

Obvioulsy, people are buying the dip. But then again, mufund mangers have little choice but to buy. Do keep in mind that something like 1/3 of daily volume is program trading (someone please correct me if this is incorrect)and I recently saw a story on how member nyse firms are doing alot more short term trading. If Nobody was buying then we would plunge but as you said, we have not shown signs of capitulation yet. I would say that we can still get it, you say this is a sign that we may not as we are not dropping "hard" on all of this bad news. Just a difference of opinion really. And THAT is what makes a market.

To: Ron Dior who wrote (48447)	4/8/2002 4:07:18 PM
From: mishedlo	Read Replies (2) \| Respond to of 99280

Why don't you explain to us then why we haven't capitulated with all of this bad news? Since the market is agreeing with my call why don't you explain your position. Why aren't we double dipping on all this bad news Mish? Ron Dior How many times do I have to explain my position. QQQ max pain is 35. I expect we hover near max pain. Expiry week or after we TANK. It is possible we tank before that but I expect them to try and prop us up till then. There is no reason "da boys" could not have distributed whet they need, then keep buying enough to prevent a collapse until expiry week or the following week. Alternatively, an "accumulation scenario" would say da boys are accumulating here and holding us under max pain and after expiry or during expiry wee we explode up. I have considered that possibility as well. That is not what the charts, the trin, the fear levels, the put call ratios, etc suggest. Therefore I stick with my general scenario of sideways thru expiry, while the more bloated pighs like EMLX and BRCD exhibit more weakness and other stuff that the funds like (like SEBL) shows more relative strength here for a couple weeks. It is entirely possible to me that we go to hell in a handbasket right now, but the actions suggests that "da boys" will be able to keep this house of cards propped up for another 10 days or so. M