Replies to post #294624 on Zeev's Turnips Patch-No Politics (ZEEV)

[jra2]

Call me crazy , but I had to do a short play on CCmp (40 stop) . Let's say , it protection on my Jcom long .

[Paul Moerman]

Hope your turnips are right Zeev! Over the past week I've reduced my exposure from 125% to 50%, and today shorted SMH at 31.41 to boot! Question for you: in the near term swoon you predict, which of the following three stocks is likely to drop the most, on a percentage basis?

(OVTI, QLGC, or NSM)
thx,
Paul

[Rat]

"take profits..and take em often?"....that I like to read...for real...tr

[ajtj99]

Close, but not there yet. The NDX usually out-performs at lows, but lags at highs. NDX move was 90% of the move on the COMP point-wise today, which indicates we've got some more work to do on the upside.

Ideally we'll get a pullback tomorrow followed by a distributive move up that could take the COMP to test the 1933 July high while keeping the NDX at around 1441. That would allow the junk to run while they sell the large caps like CSCO. A TRINQ of 0.70-0.90 on a new high combined with negative divergences on the 60-minute charts would probably get the sell signal we're waiting on.