Replies to post #248867 on Zeev's Turnips Patch-No Politics (ZEEV)

[plexxus]

NAZ lod...how many 10k and 1930 failures will it take until this market moves lower???

Poor action in the semi's once again...many semiconductor stocks have bearish 50/200 day crosses in place as well...SOX close.

[JimQuinceH]

Well Rob, As you know, I don't pay any attention to the 50 Day or the 200 Day Moving Average, or any of that candlestick stuff. I just use the systems that I have developed over the years and what I've noticed about IBM, is , it has a tendency to drop for 12, 13, 14, 15 weeks, then go up for about half as long as it fell.
If, in fact, IBM bottomed on May 17th (which my numbers indicate it did) then I would expext IBM to run up into early to mid-July. I've been watching this stock do the same thing, time, after time, after time, since the 1960's.
If however I am wrong, and it goes down, and I wind up with a loss, it wouldn't be the first time, and I am sure it won't be the last time.

I apreciate your input.

Jim