Zeev's Turnips Patch-No Politics (ZEEV)

[Zeev Hed]

To make a long story short, the process of the last few weeks has eliminated a lot of "weak hands" selling, Their absence will be the driver of a higher market. All the "uncertainties" you cite, are the proverbial "wall of worry" that wall street loves to climb. Actually, the uncertainty is less than it was last September and October. Then, a number of airlines were on the verge of bankruptcy, hotel chains and restaurants were reporting dismal occupancies and the uncertainty as to the impact of 9/11 on the economy was was growing by leaps and bounds, and what was the market doing? The Naz advanced full 50% Why? During these first two weeks after the market reopened, any potential seller, sold, there were no sellers left to stop the rally, and ample fuel from short sellers buying.

Zeev