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

To: Zeev Hed who wrote (73231)	5/31/2002 11:30:50 AM
From: ajtj99	Read Replies (1) \| Respond to of 99280

Zeev, I didn't mean to rag on you. I was just mentioning that the SOXX always seems to surprise with its ability to confound. I did see the scan the past 2-days with the SOXX quite oversold. The hammer yesterday also was quite impressive on the SOXX chart. They are, as you say, quite oversold. I expected the bump to get to around SOXX 515 or so, but I guess you could make a case for a run all the way to 555 or so as a double top. I don't think we get that this time. I think if the SOXX does run we'll see another sector sink to keep the index from running away. The SOXX weekly is still pointing down, so that tells the real story.