Zeev's Turnips Patch-No Politics (ZEEV)

[DlphcOracl]

Don't be impatient.

From reading the board, many of you are chomping at the bit to "catch the bottom". Trouble is, so is everyone else. Too many people are anticipating the "summer rally".

Even if we gap up or have a relief rally tomorrow, the support levels have been wiped out. The new support levels are in the range of: Dow 8250, S&P 860, Nasdaq 1100-1150. I will not chase any gap-ups or 1-day wonder rallies until we approach the next support levels. I continue to be amazed at how orderly the decline over the past 3 months has been. Perhaps now, we will get the disorderly selloff necessary for a true bottom in the next 1-2 weeks.