Zeev's Turnips Patch-No Politics (ZEEV)

[limtex]

Cho - People have been thinking that the big dip was coming even before the rally started.

Some people were still selling the day the rally started and people were still predicting gloom even and hour or so into the start.

Its not surprising after what we've been through that the Pacvlovian reaction is to call for a dip about to staart at any moment especially if the market has been up even for a few minutes.

Still no-one figured that there would be a mss movement out of treasuies into equities in th e last couple of weeks. I mean give me a break out of Treasuries nito Equities. Even Bill Gross looked a bit misaerable tonight as he tried, not very convincingly, to out over the view that we are going into a deflationary time and companies will have difficulty servicing debt. Wow he looked a but down. Can't blame him he must be shell shocked seeing people getting out of bonds into stocks but there you go.

With the market you never know except one thing you do know is that sooner rather than later the market will recover and recover very well.

Best,

L