Zeev's Turnips Patch-No Politics (ZEEV)

[ajtj99]

Funny you should mention Bios. They've been strong, especially with end of month window dressing.

Now it's time to walk them down. I'm shorting the BTK tomorrow with an objective to cover at 240 BTK in 3-4 weeks.

I'm also shorting AMGN and possibly PG. Objective is 26 on AMGN and 70 on PG over the same time period.

I believe we saw our high for the week this afternoon at COMP 1190. I also believe the gap at 1198 may not be filled until late November.

I believe we may see NDX 800 by Wednesday and COMP 1130 by then also. SPX 775 may also be tested and possibly even slightly breached at that time, IMO.

The Dow is on its way to 7100, which should be just a whistle stop on the way to 6200-6500.

These targets are based upon the charts I've looked at over the past day.

I have October 9 for a cycle high, but that may be just a 1-day mini-bounce in the middle of a slow drain. Next Tuesday could see the COMP closer to COMP 1060 than 1100, IMO.

Anyway, good luck to all. Don't be afraid to do some DD or look at a chart or two before you trade.

If your DD involves fundamental analysis, I suggest that might not make a difference at this point in the bear market. Charts are deciding all of the price action, and they will continue to until the bear is slain, IMO.