Zeev's Turnips Patch-No Politics (ZEEV)

[fabian]

OK Duster, we see your gap and raise you a gap. There is still that one down at 107.25 that did not get filled.
It almost got filled The Thu night that Dubai news broke and did fill it if one goes by the overnight futures prices which got down to the 1060s but by the time the market opened, the futures recovered enough so that gap did not get filled.
Sure, seasonality is generally in the markets flavor but the strong dollar [and ramifications should it stay strong or get stronger] should not be underestimated.
The market is used to all minor dips being no big deal.
When the market gets comfortable about something it's time to at least watch for a needle in the couch that can turn easy comfort into unexpected discomfort.
Unfortunately, shorter term sentiment numbers have been neutral the past couple of weeks just as the market has been go no where neutral.[no predictive edge there]
It will pay to keep an eye on the put call numbas and know how to interpret them for the given conditions under which they are registered. They are likely to be quite helpful.
Wait a sec. Have not checked this weeks AAII numbers yet.
Got em. The bear bull ratio is .675 which we would rate as slightly bearish [contrarian] as of yeterday when the poll was taken.
Fully consistent in allowing for todays selling.
Fabian