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

To: Mike M who wrote (65418)	5/10/2002 3:56:49 PM
From: LTK007	Respond to of 99280

<More likely, is that we were significantly oversold at a technical rallying point and> i think the "Big Boyz" know an oversold set-up and know how to exploit it. I would personally LOVE to see the records of all those buying up the futures and pressing the massive gap into play. But as Bill Fleckenstein says, unless some day there is Congressional investigation as to how we get a massive Gap-up, we really can only make conjecturings. Once they had the gap every short WITHOUT deep pockets were forced to cover and rama-lama-ding-dong you have a massive day long rally. Right now we can see the shorts and longs at battle. That 1054 and 1600 has been a combat zone for the past hour:) Could one see the set-up coming, in 20/20 hindsight i can now see it perfectly:) The KEY being the RSI level on VXN, at 73plus, an extremely oversold level. At least i have learned a lot by obsessively studying the VIX and VXN the past months to see other ways to read what they are saying. Max