Zeev's Turnips Patch-No Politics (ZEEV)

[zerofinance]

Zeev, are we not in a similar situation with respect to new lows, as we were with respect to new highs back in March/April of 2003?

i.e. at that time we were waiting to see expansion of new highs, to indicate leadership, and a "real" bull move instead of a weak rally. However, the stocks were so far beaten down that new highs were still some time away. And by the time the new highs picked up, the move was already well under way.

Now, stocks are up in the stratosphere, wouldn't we have to go a LOT lower to see real expansion of new lows? In other words, is "new lows not expanding" giving a false sense of comfort here?

thanks
zerofinance