Zeev's Turnips Patch-No Politics (ZEEV)

[techanalyst1]

I think once earnings and guidance come out, stocks are going to respond.

Whether that is up or down????????? Maybe the retailers will improve with the price of gas coming down.

Maybe some companies will raise guidance with the cost of energy coming down.

But I have a gut feeling that this was an interruption in the primary trend which was down.

The last time MMM went and did this type of moonshot, it was a top.

KO is back to the lower end of the multi year trading range.

Some of the valuations are so absolutely ridiculous it's pitiful (like yahoo). Maybe everything deserves a forward pe of nearly 60 on proforma earnings???? Ok.... yeah. Merq to 65 in that case!!!!

I think valuation is going to move us down again which is the real reason I think stocks dropped after earnings the last quarter.

We should be fairly overbought again, I would think, if not now, soon.

If we go to new lows (which I think we will), that should wash out the last hopefuls........ so disgusted with stocks breaking down even after Saddham's funeral that we get a good washout to last a few years.

TA