Replies to post #18676 on Zeev's Turnips Patch-No Politics (ZEEV)

[extelecom]

Zeev, Awesome... I hope too many on this board do not get burned with what appears (even to me) to be a potential large pullback. Sorry the Turnips are wilting here, but I know they only respond to the climate. Thanks for the intuitive post!

I am glad you are not on the ship carrying those posting: dow 16660.

ET

[Sir Realist]

Zeev, can I add my 2 cents to your last? I agree with the sell signals, and see others, though the last gasp of trash stock squeezes -today or tomorrow- is the strongest signal of all, to me.

My opinion diverges on the pullback, as my recently posted charts suggest a support point somewhere near 1330, and suggests we could hit the quarter's peak by 9/11 (reminding me of the y2K rally).

However, yes, the pace and severity of the pullback can make or break this uptrend. If that rising support line breaks, 1265 is critical. If that goes, the bottom goes.

It seems odd to me that so much mkt sentiment appears on the charts, to point to a 9-11 defining point. Whether that becomes a peak or a fresh low remains to be seen. For now though, I suspect the biggest pullbacks will be in the trash stocks, while the bigcap leaders will keep us from dipping to oblivion by maintaining their bottoms and cycling back.

A final sell signal note: Abby Joseph Cohen sent a memo to customers yesterday urging them to buy. That's been a pretty good indicator for 3 years of 2 good days before a serious mkt dip <GG>

(And I know all about that, as I'm a serious market dip.)

[wahz]

I seem to typically be a day earlier than you to sell and an unfortunate 2-3 weeks early on the buy signals....that's not a good thing, for me.

This has now developed fully like 3/11, imho..it's disgusting for those of us who wish to be bullish..the warning bells are booming. All that we needed was a pause about 70 points ago but instead we pull this crap. Any up from here is pure insanity. All we have really done is go back to about where we fell off the cliff, and we have not done it with good base building.

I see us falling to about 1326 by Wednesday, moving up to 1400 at month end, and then sliding back down to 1260 by 9-11. If we do better than that, but don't go much higher, it would be great. Just imho.

[jetlag]

Zeev, could you recommend some core stocks and comment on the criteria you use to classify them as such. I've already found SFD and MAXF referenced, browsing through your posts.

Do you use consider COCO, INTU, INVN, IRF only for swing or day trades?

Thanks,
jet

[Patrick Bateman]

Any idea when we are gonna test that 1265 or so?

Does an Iraq invasion change your scenario at all (in fact do you think we have one this year?)

Virtually Yours,

Pat Bateman