Zeev's Turnips Patch-No Politics (ZEEV)

[mlsoft]

Zeev....

I was referred to the turnip patch by a friend last weekend, who told me you were both nimble and amazingly correct in your market calls. Having established being "nimble" almost immediately by changing from SI to Ihub, I am seeing evidence of your accuracy also with some very nice calls already. Impressive.

I see us as getting oversold and would normally be looking for a tradable rally here, but am concerned by the almost universal expectations of a rally from this immediate vicinity. I also think that earnings expectations may be too high for the tech sector, and look for a lot of "made the lower end of earnings expectations with a miss on revenues" type of reports accompanied by even more lowered guidance for next quarter and the full year - beginning with INTC on Tuesday. With that as background, I think that there is a chance for a meltdown this week as lows are taken out and downward momentum is accelerated by margin selling, fund redemptions, and plain old fear. If so, I think the DJ could drop 1000 or more points with the NAZ decline in the order of 300-400 points (most offenders would be NAZ type stocks).

What are your thoughts on such a possibility? Thanks in advance, and congratulations on a very nice and informative thread.

mlsoft