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

To: mishedlo who wrote (68368)	5/16/2002 6:42:16 PM
From: westpacific	Read Replies (1) \| Respond to of 99280

Mish - it is about DOW Theory, the Transports and the Utilities cannot break technicals for the DOW to rally. Right now both are in major bearish formations from today!!!! The Transports broke out to the upside bact in October and have been bullish since then, this week they fell back below key support on that breakout!!!!!! The Utilities also broke out in January and fell back below key support this week!!!! THIS IS ALL VERY,VERY BEARISH!!!!!!

To: mishedlo who wrote (68368)	5/16/2002 7:00:47 PM
From: kanuti	Read Replies (1) \| Respond to of 99280

Could you please explain how the whole world has changed in the past 7 days from when you stated "Wednesday ramp was a gift and longs should have gotten out" to today's statement "I remain unconvinced that we are not headed UP for 1.5 months or better".

To: mishedlo who wrote (68368)	5/16/2002 7:44:27 PM
From: LTK007	Read Replies (1) \| Respond to of 99280

a bit of trivia, 9 of the top one day %gainers in Nasdaq have occurred since the bubble burst. The other, and at the bottom of the list was in 10/21/87. Moral of the story, explosive one day moves are common in Bear Markets. Max

To: mishedlo who wrote (68368)	5/16/2002 8:47:00 PM
From: SirRealist	Read Replies (2) \| Respond to of 99280

I think you're right Mishedlo. I'm reversing course and don't expect to see 1549 break this year now. If I'm wrong, the next 2 weeks should show it. However, I do expect the Dow to take a big hit still, while tech stabilizes and gold soars. So there's room for bulls, bears AND bugs with that call :^P (Yeah, I'm serious. Just starting to wonder if my briefs are glued on too tight.)