Replies to post #223306 on Zeev's Turnips Patch-No Politics (ZEEV)

[shoreco]

Hi Zeev,

One of the things I've noticed about this market is it likes to leave the crowd behind...


ie;, The move down left a good portion of the top callers empty handed as they watched the Dow give up 600pts in a matter of days (just using the Dow as an example), but many of them were screaming how the market was over-valued and due for a correction but it happened so fast it left most of them behind and now they have a big decision to make, do they "short here" looking for the next huge move down and if they do will Mr. Market just steam roll them instead???

Next we have "a ton of post" talking about how this rally has just left many of those looking to "buy this bottom" behind???

If Mr. Market knows they're there, he just might make them chase and he could do it by steam rolling the tardy short crowd...

One thing of note, Perma Bulls or Perma Bears will always be there for the turn, but they never share how much it cost them while they were waiting for it to happen...

Now let's talk about the charts...

Charts look good, but that will change the minute we show weakness. Yesterday started out with a pretty low put/call ratio but todays internals were Bullish all the way and the volume did kick in in the final hour...

IMO, This is not "the rally", but it sure as hell will look like it over the next couple of days...

These charts do say we could have another couple of days of Green and still be in their bearish mode...

http://stockcharts.com/candleglance?$INDU,$COMPQ,$NDX,$SPX,$OEX,$NYA,$SML,$RUT,$GOLD,$USD/B/H14,3

[limtex]

ZH - Any news on SI?

L

[JimQuinceH]

<<I am not sure (yesterday) was indeed the bottom>>

Zeev, It sure looked like it to me, with the Naz up 57 points, I don't see it taking out the 1896 level that it hit on Wednesday. I expect some type of dip mid-next week, but with the jobs report due April 2nd and BEARMOVE telling us it should be favorable (and I believe it will be), then I'd see a continuing rally in to the area of April 14th, the day before my next "Change of Direction Point" due 4/15.
Following your Christmas forecast for a three stage rally into the summer, I believe we go to April 15th, pull back some, go up into May 21st, pull back again and then go up into mid-June.I can't quite see your July top, but since this is only March, it may be too far away for me to see.

Jim