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

To: Michael who wrote (91253)	7/4/2002 2:31:15 PM
From: Zeev Hed	Read Replies (1) \| Respond to of 99280

Price is a little less important than sentiments, IMTO, thus breaching last week lows without having new lows expanding, or the tick going much lower (the trin unfortunately is skewed in the last few days by WCOME, but I think its delisting should "cure" that) is positive, but some other sentiment indicators have not obeyed the same pattern. Last time I observed that behavior was the rapid Feb 28/March 8, 2001 double bottom, it turned out that one was an actual breach and the market continued down for another two three weeks, till the 3/22 bottom in the Dow and the 4/3 bottom in the Naz. Over exuberance that a bottom is "at hand" is could be a little premature. As I said, the next three four trading days would be telling. Zeev