Zeev's Turnips Patch-No Politics (ZEEV)

[Sir Realist]

Zeev, can I add my 2 cents to your last? I agree with the sell signals, and see others, though the last gasp of trash stock squeezes -today or tomorrow- is the strongest signal of all, to me.

My opinion diverges on the pullback, as my recently posted charts suggest a support point somewhere near 1330, and suggests we could hit the quarter's peak by 9/11 (reminding me of the y2K rally).

However, yes, the pace and severity of the pullback can make or break this uptrend. If that rising support line breaks, 1265 is critical. If that goes, the bottom goes.

It seems odd to me that so much mkt sentiment appears on the charts, to point to a 9-11 defining point. Whether that becomes a peak or a fresh low remains to be seen. For now though, I suspect the biggest pullbacks will be in the trash stocks, while the bigcap leaders will keep us from dipping to oblivion by maintaining their bottoms and cycling back.

A final sell signal note: Abby Joseph Cohen sent a memo to customers yesterday urging them to buy. That's been a pretty good indicator for 3 years of 2 good days before a serious mkt dip <GG>

(And I know all about that, as I'm a serious market dip.)