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

To: Softechie who wrote (76104)	6/7/2002 2:35:16 PM
From: ItsAllCyclical	Respond to of 99280

Today's action means nothing imho. If I were short and I suddenly had a 3.5% drop I'd probably cover too. Short covering, spec. longs and PPT explain most of the action today. Either way you know they'll retest these levels at the very least some time next week. Suspect they won't hold. Plan on staying 100% cash till things are far more clear. I suspect we'll close about even on the DOW and S&P and down about 1% for the Naz. Don't care though as we made a new low on the S&P today that needs to be tested at the very least. Sept lows are pulling hard on the index right now.