Zeev's Turnips Patch-No Politics (ZEEV)

[Zeev Hed]

No I have not allowed for Saddam exile (I doubt he will). Lats week I suggested that a possible climax might be the after hours expected run of QLGC to put a top. Well, there was no run, we may have to wait for the pair MSFT/IBM to cause that run, or we may not have any. Note however that going up yesterday, we contracted volume and new highs, and going down today, volume expanded a little, surely not a bullish sign. Originally (late last year), I was expecting a more spirited rally accompanied by a volume spike marking the actual top. It is not happening, so the exact "turn" is much more difficult to pin point. I still have 1/6/03 as the max in sentiment indicators even though the indices may have had a marginal move back above (after today, no longer) those of 1/6.

Zeev