Zeev's Turnips Patch-No Politics (ZEEV)

[Jerry Olson]

Zeev

as the resident P&F guru<VBG>...i cannot agree with that assessment...the BPSPX and almost all other BP's are just now rising up on all charts..the SPX usually tops out at 64-74% we are only at 48.8% and have a long way to go...and the bigger biys are all under 50% thats bullish for me...

so while we are at nominal short term highs here..and really not really<G>...the index BP's have a much larger move ahead...

if the short term BP's reverse down it may not even affect the main coaches and probably will not...the short termers will only reset themselves to move much higher later...

if you use oscilators then RSI's and MACD's etc only signal short term tops to me...when they correct and bottom then we'll turn back up at a much faster rate...as long as there is no technical damage done to the big boy BP's...

i doubt very much if that will happen on the coming retrace back down...

the key number to me is 845 SPX we'll watch that in the coming weeks to see if it has any strength...that was the 50% retrace from the Mar lows to the Mar highs...the 1st retrace down...

but all in all..i see no major selloff here..yes a correction or pullback to say mid May..but thats it...

of course it all speculation<G>