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

To: Smart_Money who wrote (83314)	6/21/2002 6:49:16 PM
From: jjstingray	Read Replies (1) \| Respond to of 99280

I disagree. Everyone is still thinking like the 1999 time frame. "We are down 70% therfore the risk is with the people shorting." We have not even seen any fear in this market. Vix at 31. What a joke. It will be at 50 when we put in a bottom. Stocks are still grossly overvalued. When we see a bottom, CSCO will be at $8.00. Besides, what happens when we do bottom. Everyone thinks we are going to get a 30 to 40% rally like we have in the past big selloffs. My guess is we will not rally that much. People need to adopt new thinking in this market. Am I adding new shorts, no but I might. I am holding a lot of puts from last week so I am very comfortably in the money. But, the bottom line is we have more pain to come, a lot more pain.