Zeev's Turnips Patch-No Politics (ZEEV)

[JMKel]

I don't see this rally aborting next week.

The market wants to go up not down. I suspect that it will move to 1320 area early next week. iT may even move to 1360.

The shorts are getting hurt now. There is no question that the market was greatly oversold in an environment of extremely negative politics and there was a lot of "piling on" by the hedge funds and the analysts going into to last week or two. This contributed to a hugely negative sentiment. It is abating now and the marketseems to be seeking more reasonable pricing levels as it shucks off its overreactions.

Heck! We even have a kinder and gentler George Bush talking down the immininent invasion of Iraq. <g> Sentiment is improving.