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

To: farkarooski who wrote (61946)	5/5/2002 8:20:46 PM
From: SirRealist	Respond to of 99280

My signals don't suggest a rally or selloff more than 2 days in a row. I think we'll see 1550/1570, 1720 and finally test the Sept bottom in late June/mid-July.... with another flattish quarter following. Just like a stock bottoming, NASDy should go through a bottoming process. It's just longer and slowwwwer. Last Sept was only the beginning of that process, followed by a 3+ month dead cat bounce. The new lows? That's much harder to define. Typically, I'd call for someplace 'tween 1175-1300, per my charting. However, 9/11 was not just an attack on the US but was an attempt by Al Qaida to kill the mkt (imo) and cause a global financial panic. So when we near 1387, the threat of another attack becomes imminent, and that could cause a panic drop to as low as 750, depending on the severity of the attack. I'd use the next rally of 2-3 good days to buy gold or gold miners, and hold till the breach of Sept tech lows come. Disclaimer: My penguins have been reading the anchovy patterns again, which is where all such inspirations arise, so invest only that which you feel comfortable with losing if the seals get the serious munchies.