Replies to post #242657 on Zeev's Turnips Patch-No Politics (ZEEV)

[Bearmove]

Good good good.....I like that. More fear.

[DlphcOracl]

JLSegal: Regarding Schaeffer's prognostication.

I do not know what his long term track record is, but last year he was dead on. He called the turn in the market in October 2002 andMarch 2003 while he recommended aggressively buying tech, small caps and other high-beta stocks. He also predicted that the Nasdaq would peak at 2200-2250. At that time, it sounded laughable and he was virtually all alone in predicting that the Nasdaq could gain nearly 100% from its lows.

[ljk]

Schaeffer just went on CNBC (7:23AM) with a bear position. "Major risk is rapid move to the downside, not a grind to the downside. We're at a line in the sand, failed at some resistence levels earlier and the market doesn't do well during a period when the Fed is raising rates." He's looking to short interest in the ETFs as another cause of concern -- the market should be reacting positively to that. When short interest becomes very huge that would be positive for the future -- more huge. Schaeffer says right now it's unwinding in the opposite direction.

I believe he's had a good track record, too. I'm surprised that Brinker is holding out.

Linda