Zeev's Turnips Patch-No Politics (ZEEV)

[was Steve]

Zeev is a phenom no doubt, but is not always right. he makes adustments and changes direction as the tape dictates. some criticize hime for changing his mind. Not me. That is a sign of a successful trader. I have nothing bad to say about Zeev, but I dont always agree with his forecasts.

I have gotten pretty good at predicting market turns learning from him, ajtj and maybe a few others. One recent example. I had the feb nas peak as a lower top at 1460 a month before it happened. Only reason i know this is i send a newsletter to friends and family as a guide of when to be long or short the market. He had a high of 1600 as did our host wahz (who may have been even more bullish). There wasn't a single person who agreed with me until we started dropping like a stone from 1467. all were looking up.

I am comfortable having an opinion different from others as my bigger picure view of the indexes has served me quite well. Doesn't mean i am right by any stretch of my vivid imagination.

Yes we are in a long bear market. yes we are still in a downtrend. My 58 weeklies have been hinting taht a reversal of trend was near. at this point, stopping the bleeding and rising for 1.25 days means little in the scheme of things. but reversals have to start with something. what we have is something at some key levels and it looks promising. we could erase it all on tues thus creating a whipsaw. that is why i have focused on weekly charts. daily have been giving buy signals every other day only to be erased. the weeklies take longer to reverse so are better for picking big turns.

two days ago, people were openly ridiculing my forecast. after yesterday the tide started flowing the other way again.

i do not rule out a continuation of the drop, by any means. i just feel that we may or have close to putting in the lows on trs. i would like to see a retest next week taht finds support no more than 1% lower than trs levels. if it holds, my opinon is we go up. with all this UK news today. we may continue to surge and not retest, who knows. certainly not me. i just get what i can from my instincts and charts and place trades accordingly. i hope i addressed your post
steve

oops wanted to add one thing. the feel i get from my charts says if we dont get going into breakdown mode in next two weeks, we are going up adn for a few months.