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

To: LTK007 who wrote (83469)	6/22/2002 2:18:22 PM
From: Zeev Hed	Read Replies (5) \| Respond to of 99280

Max, what is Cashin's job? He is a floor trader on the NYSE, maybe even one of those elusive specialists (I never met specialist have you?), so indeed he should know better than us what is going on, so, why was he not warning of a massive decline in early January (at least, I don't remember anyone bringing such an opinion from him here), did he warn of that the failed rally late in April will lead to a major fall? The point is that if he tells us what is actually going to happen, he'll be acting against his own interest, and I don't think he is inclined to do so.... Apart of that, if I understood Justa's post correctly (I may need a translation from his Romanian <g>) he was reporting what the floor traders feel (while scrambling over each other with "sell orders" late Friday ?) and that one should take a contrary opinion to those floor traders (thus FT think a bottom is near, think not). If we do not get a GNT tomorrow (and my bias for tomorrow is still slightly up), we will have failed to get 5 GNT within 6 trading days by the end of next week, so maybe Justa is right and the bottom is delayed to the week after (g). If we get a GNT tomorrow, there is a good chance that we will get the same on Tuesday, Wednesday and Thursday, yielding the 5 GNT's within 6 trading days and possibly setting the stage for a bottom within three days after Thursday. I would say, let's wait until we actually see the white in the MM's yes... Zeev