Zeev's Turnips Patch-No Politics (ZEEV)

[Zeev Hed]

Last Thursday I put on my bear suit with the Dow hitting 10652, and the Naz 2100. The P/C ratio seems to have drifted all the way to .35, and even expiry day should not see such extreme, IMTO. Despite the fact that the Naz is already 40 points higher than last Thursday (the Dow is still lower), the new high count did not exceed last week's reading and still was unable to penetrate 450. many other sentiment indicators are also in danger territory. I am "clinging" to that "bear suit" and have gone to sleep heavy in cash. The coalescence model is probably in force now. We missed my target high of 10730 ( #msg-2000425) by 78 dow points and so far exceeded the 2093, and intermediate level 2028 as well. Can we print 2163 what was originally the target high for the winter's high? Maybe, it is only some 23 Naz points from here, I think however next week opening will be lower. Of course, I underestimated the strength of the Naz a little here, but I doubt much damage was inflicted by stepping aside a little in the last week. The main issue is where are we going to be in two three weeks, if we are on our way to revisit the 1900 and lower, I think that bear suit is quite useful, if we breach 2200 on the Naz, that call should be classified, like last April as a bad call. They do happen.