Replies to post #174498 on Zeev's Turnips Patch-No Politics (ZEEV)

[Paul A]

Actually Zeev- considering the holiday trading atmosphere, the ramp they gave us shortly before selling hard into the close looked like nothing more than short squeezing on low volume.. Stops just being abused : )

I still have my shorts, but at around 3:15 it started looking like they were going to jam us straight up into the close.. I had a stop on QCOM at 46.05 and looking at it here at 45.50 Im considering myself very lucky they couldnt squeeze it over 46.. Actually Im surprised.. so I covered just a tad bit here just in case they try some funny business with this market tomorrow to fullfill everyones wish of a strong market into Turkey Day!

JCOM- what the hell got into that monster? Geesh..

[techanalyst1]

No arguement from me. Personally, I think the market is ahead of itself anyway..... just wondered what it was that made you say that.

Nice rally last year too and it topped out Thanksgiving time and ended 13% off the naz highs by year end.... and valuations are higher now, so more profits to protect, imo.

TA

[ajtj99]

The hypothesis I'm tracking has a H&S formation with the right shoulder forming this week, a drop to the neckline formed by the NDX 1346 and 1357 lows, a bounce, a breach of the neckline and a test of the 1360 NDX floor, creating a triple bottom, a back-test of the neckline, an eventual upside breach, and new higher highs around NDX 1530.

The triple bottom floor at NDX 1350 will create a nice, porous shelf of support that we can breach maybe in February.

There are some wedges we need to stay inside to start December, so I'm not real bearish for the next couple of days, as we must get to NDX 1420 or so by Friday close to stay in the rising monthly wedge. We can dump after the open on Monday.

My end of month Dow play also suggests we will be above Dow 9765 Friday sometime no matter what happens tomorrow.

[Zeev Hed]

The post to which I reply has an error, the model lowered the bottom of the meandering range back to the 1842/50 area, not 1942/50 area as typed erroneously on that post.