Replies to post #1747 on Zeev's Turnips Patch-No Politics (ZEEV)

[Newkit]

NASDAQ 1100 is the number Softechie waiting for. No one know what next. All of us are just guessing. When too many of us guess and expect the same thing and put our bet there, it goes against us. Cos when it doesn't happen we step over one and other to exit.

[DlphcOracl]

Don't be impatient.

From reading the board, many of you are chomping at the bit to "catch the bottom". Trouble is, so is everyone else. Too many people are anticipating the "summer rally".

Even if we gap up or have a relief rally tomorrow, the support levels have been wiped out. The new support levels are in the range of: Dow 8250, S&P 860, Nasdaq 1100-1150. I will not chase any gap-ups or 1-day wonder rallies until we approach the next support levels. I continue to be amazed at how orderly the decline over the past 3 months has been. Perhaps now, we will get the disorderly selloff necessary for a true bottom in the next 1-2 weeks.