Zeev's Turnips Patch-No Politics (ZEEV)

[chainik]

Zeev,

I am looking at a large number of technical indicators and practically all of them are saying essentially the same: a few days ago we witnessed an important top, a top that was more solid than any other top during the last three years.

This time may be different and we may be at the beginning of a year and half-long bull market. An obvious problem with this scenario is extreme bullish sentiment. How many Nassacre-related posts you got recently? How many are not going to buy this dip? Even mlsoft is thinking about going long.

We are down about 60 pts from the top on comp and both vix and vxn hardly moved. Put/call jumped to 1 –but should we correct tomorrow, it is likely to go below 0.8 again.

I don’t see double top in the near future. And I am starting to like your nassacre.