Zeev's Turnips Patch-No Politics (ZEEV)

[mlsoft]

"I really think that all momo favorites are good short condidates. There will be no favorites at the bottom, Well, maybe soap makers."
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chainik...

I don't think the soap makers will be safe either. I have said many times that there will be no safe havens in this market and I still believe it to be true - with the possible exception of gold.

Next week is the week I suggested in earlier posts as the most likely time for a bit of relief rally to ease up on the oversold conditions - there are few economic reports during the week and the first week of significant earnings reports are still a week away. I would guess that a sigh of relief after the Bush speech might be the catalyst for a rally to start but I would look for the rally (assuming it does happen) to be brief and less than stellar - probably over and done with by Friday.

After that, I expect the downside to resume and it could get a bit nasty, fueled by poor earnings and worse guidance.

mlsoft