Replies to post #119049 on Zeev's Turnips Patch-No Politics (ZEEV)

[jrintl]

We ramp in the afternoon for the 5th straight day? Does that seem the good odds play here?

While I understand the idea of shorts getting nervous, why wouldn't bulls want to protect profits EOD/EOW just as bad here? (In fact, wasn't that your rational for the 1500 +/- target- managers locking in 2Q, 1st half profits. Why couldn't that start today?).

Also, today first day in long time that bad news got sold (and stayed sold), Soxx, nor Transports did not confirm new Dow highs (Soxx only 38% retrace)...some (not all) other indices did Fibo retraces of the down off last week's top...the rally this week was on lower volume, and I bet the internals were worse (than previous week) at certain milemarkers..

We are now below 989 on SnP too..

What are you seeing (besides the short-covering idea) that leads you to believe we ramp here (into close)

[SI_Shack]

Hi Zeev. Thought I'd share this chart of the SOX with the thread.

While I too have my suspicions that any large down is beginning here, this chart concerns me that we are now pointing down:

http://www.ttrader.com/mycharts/display.php?p=12988&u=shack&a=ShackPack&id=335

If we fall back into the channel I think its lights out for a while. As it is if the lower wedge line goes I think that will be enough for confimation. At this point I would say that 340 simply must hold. As you can tell, I don't take failures lightly.

Intersting in that it is a very similar set-up to the weekly BSTE chart which we discussed last week (about which I think we disagreed-g)

[calzone]

Zeev, Any thoughts on FRE and FNM Fannie stocks. They've been down a lot because of the audit issue. Would these be good buy at this level? Or should wait...TIA