Replies to post #6939 on Zeev's Turnips Patch-No Politics (ZEEV)

[Fred Langford]

13:30 ET KLAC KLA-Tencor says Sept orders will be flat (41.10 -2.17) -- Update --
Soundview says that KLAC's CFO indicated that he expects the co to exceed guidance this qtr of at least 10% order growth, although Sept orders are expected to be flat; firm continues to believe that orders will be up in June by 15%, but says that the co effectively lowered Sept guidance since they had previously said orders would be up.

[LG]

Rich 1: Heck, I expected that falling support line on my OMC Index to hold and jumped ahead of my own models. Somethime I am right, but most of the time when I do that I get burnt.

I got burnt this time. I would think I would stop doing that. It is always best when all my models line up and they are getting very close to doing that. When the all line up they are rarely wrong.

The first four of my intra day models are in the oversold range and the longest-term model is on its way. My intra day daily and weekly models are beginning to flatten out at the oversold mark. This is just about as close to a complete line up as they get. I will most likely begin to re-establish long positions this after noon.

As my computers may be down sometime this week, I will likely just stick with the DIA, QQQ and SPY.

Regards,
LG

[jdaasoc]

I am still long from yesterday and not shorting out if we hold S&P 800. I take any additional lumps for being bullish tomorrow. This downturn is not going to do well for consumer or business spending.

Therefore, look for more of same downwards major sector by sector haircuts if shorts can't be chased. They will not need much incentive to short just abnout any stock since job cut announcements are increasing.