Zeev's Turnips Patch-No Politics (ZEEV)

[wecus]

Have seen it as well, it has the smell of another short-attack, very tempting - thanks for mentioning it. It a tough chart, though, hard to tell when and where it will bounce.

This one could of course easily develop into a H&S when things eventually get bad , then taking it down to the lower teens, but I guess your question is more sort of ST aimed...

The area around 18 of course shows some good support from late 2003 as well as a 'sort of pattern' what I call the ladders inside a chart (you would probably call it chart fitting, I guess)

OTOH the chart shows it often enough dives hard two days in a row, so I might want to wait. Also a broken down trend later often serves as support and there's another ladder coming up in the 17.25 area or so, last but not least RSI(14) and RSI(5) don't convince me either, as well as ADX divergence, so I got several reasons to wait for a first (or miss the whole fun) with a closing stop below the december lows.

While I write this I find a case for 16.75 to be another possible turning point, so what do I know <gg>

I will not enter them anyway though because I'll be leaving for a week of skiing in Italy on Saturday and I don't want to increase exposure while beeing (I've been fooled often enough with this kind of bad timing...)

I haven't been able to trade very much lately anyway, last week was filled with fighting a bunch of lawyers which were out to stop my most important project so I've got no feeling for the market (*hopefully* I got them what they deserve, this is the first evening that I'm checking back on things...)

Andreas