Zeev's Turnips Patch-No Politics (ZEEV)

[lemming]

Zeev,

Do the turnips still see the Oct NASDAQ swoon unfolding here? Also, is this as the (at least temporary) end of the gold run you mentioned?

Concerning metals, we are very close to the 1980 all-time high here. It seems a pity to waste such a great run and not at least spike to new highs. However, as someone once said, arguing with the markets (or even with turnips) can be quite a costly debate.

Stocks seem to be a different story, with the NASDAQ teetering on a breakdown. Contrary to IBD's count of 3, I am seeing 4 distribution days: 9/28, 10/3, 10/11, & 10/15. One major distribution day in the next week or so should be enough to usher in a NASDAQ swoon. Also, bullish advisors (60.2%) far outnumber the bearish advisors (21.5%), usually a contrarian indicator.

-David