Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Lone Ranger who wrote (68434)	5/16/2002 10:25:34 PM
From: Robert New	Read Replies (1) \| Respond to of 99280

Ranger...Im looking for a decent rally here but if you look at the one year chart of the Comp we've been putting in a series of lower highs and higher lows thus are setting up a major triangle. I think its likely we take out 1950 on this advance but fall short of 2100 we saw back in January. There's alot of compression here and once the downtrend line goes short covering will ensue followed by retail buying. Im not so sure that the Fed will be inclined to do a thing based on a near term move in the markets. Still too much in terms of overcapacity in many sectors imo to start tightening policy before the fall. If we gap up manana that will leave 3 gaps on the Comp chart and a very ragged base. I have serious doubts of the sustainability of such a rally beyond the summer.