Replies to post #155776 on Zeev's Turnips Patch-No Politics (ZEEV)

[punkle]

Zeev, if we get to 1640, do you entertain any chance of revisiting the March lows? What would have to happen to get us back to the March lows or less? Actually, why would I not want to get clown long then?

[MyHunch]

From Shaeffer's Research: Important Numbers for Monday:

Tech stocks continued their steep drop-off, leading the Nasdaq Composite (COMP) to its third straight loss of at least 25 points. The COMP has slumped 5.8 percent, blowing through the 1900 and 1800 levels in the process. The only good news for the COMP is that it remained above its 10-week moving average, which sits at 1779.


Levels to watch for in Monday’s trading:

Dow Jones Industrial Average (INDU) – support at 9200; resistance at 9758
S&P 500 (SPX) – support at 990; resistance at 1050
Nasdaq Composite (COMP) – support at 1780; resistance at 1950

Zeev: I hope I am understanding your message right. Are you saying that you do believe that a sharp drop on Monday morning is possible and it can take the COMP through 1780 and another 20 points or so to find support at the 1757-60 area (btw is it the 20 week MA?). Thanks