Replies to post #27693 on Zeev's Turnips Patch-No Politics (ZEEV)

[Zeev Hed]

This is a definite possibility, I thought, however, that they had the opportunity to do it this week. Friday's high (relatively) volume, however got some bulls out to stem that decline. They could still engineer it, but that will not change the fact that the chorus of bears has become excessive (and "smug" just a touch?)

Zeev

[sarai]

A retest of the July lows is a given.

Will it hold? Probably not, imo. Because.....
even the bulls must admit, if there is no double-dip, economic performance and profits will be anemic, at best. By any historical metric, the market is still priced to perfection, and there is nothing to justify premium valuation. There is no catalyst to jump start the economy to a new bull market, not to mention the precarious geo-political situation.

Lower lows cometh on fundamentals.

[akirsch]

Zeev, I don't get how you can remain so positive when the #'s are really terrible. SUNW EDS ALA CIEN etc. are real examples of the recovery being much further out than we really ever thought. The numbers keep getting adjusted downwards and we don't know yet when exactly we will begin to see growth in tech.

If BACS tech conference goes next week without a hitch, I might be more sanguine, but I think most companies are going to have to lower year end forecasts. NAX 1000 in October the worst month consistebntly for last 7 years except last year is a real possibilty. You think the sentiment is extreme enough to take cobntrary posistion. I think maybe its too soon. Anyway, you have a good whiff of things to come with your turnips. I will certainly stay tuned.

Andrea