Zeev's Turnips Patch-No Politics (ZEEV)

[ardent jd]

ajtj or anyone else

Your opinion please...one of the scenarios I'm thinking about is a minor bottom right around 1320, then a bounce of max 100 points to the top of what would be a descending triangle, or perhaps stopping at the 200 day SMA.

http://stockcharts.com/def/servlet/SC.web?c=$COMPQ,uu[h,a]daclyyay[dc][pb50!b200!f][vc60][iUb14!Lp14...

(Use your imagination, as I haven't upgraded my stockcharts subscription yet and can't post annotations). This would be supported by short-term sentiment like the P/C and VIX and oversold stos, the imperfect inverted hammer today, and the general level of bearishness. It would also set us up nicely for a breach of that triple bottom at 1319-27, or whatever it is, and a retest of the October lows, as the triangle measures almost to there.

Do you think this has any validity?