Zeev's Turnips Patch-No Politics (ZEEV)

[Zeev Hed]

I think that very short term, JCOM is bound above by $32, and in the next few weeks could easily breach back under $30. I am still waiting for a mild run tomorrow to relieve th extreme oversold condition, at least on the Dow (5 days RSI at around 20, too low, and 10,000 should serve as a spring board), on the other hand the Naz is still bound above by 1904, thus very short term (tomorrow?) I expect the Dow to be supported, but then fail under 10,000, culminating on the 28th/29th in a local bottom, and ramping back up above 10,000 just to give it all back and then some early in October. The bear signal is still on, notwithstanding a possible small bounce here. That translates to a JCOM tactics of trying to sell in the $31.5 to $32 range and buy back on a retrench to the $28.5 to $30 or so. With PLMO, I will probably have to take a loss (I was hoping that RIMM would carry it back to the $33/$34 aea, still hope, before I reestablish in the $28.5 to $30 area.