Zeev's Turnips Patch-No Politics (ZEEV)

[mlsoft]

MyHunch...

Without strong PPT support, yes, I look for more downside today and tomorrow if not longer. They were pretty much out of the market yesterday (other than what appeared to be support buying in key stocks during the day) until just after 3:00 when the PPT alarms went off. That attempt was beat back by the bears, but another attempt was made shortly after 3:30 followed by an even stronger attempt (judging by the size of the bids) at 3:45 that lasted into the close. I took the inability of their actions to produce a rally on a light volume day that was already down some 300 points to be quite negative, with the implication that there was little buying interest (or short covering fears) and plenty of selling interest.

mlsoft