Replies to post #16961 on Zeev's Turnips Patch-No Politics (ZEEV)

[mlsoft]

""When you have got an elephant by the hind legs and he is trying to run away, it's best to let him run." -- Abraham Lincoln
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Alex....

Whew, thanks. For a minute there I was afraid I had him by something other than the legs.

Actually, I am counting on the same thing - I seriously doubt the the markets can cross both 9000 DJ and 1400 NAZ on this trip without a pullback - hopefully that is the way it will play out. I certainly agree that the PPT is not continuous, and once they get the market going, all they need to do is to come in at critical times, like this morning, to stop reversals and get rallies back in gear. Between those times, the "buy on dippers" and short covering will provide all the lift neccessary, especially with light volume.

What threw me was the fact that they felt it useful for them to come in this morning, when I think most folks were thing that a moderate pullback would then lead to another rally without any help. I normally think of them as being only concerned about keeping the markets orderly and preventing if they can a meltdown that would take out the money center banks. I did not see any threat to either this morning, yet they were obviously in the market so we seem to have a change in tactics - I just wonder what that means.

Take care.

mlsoft