Replies to post #41134 on Zeev's Turnips Patch-No Politics (ZEEV)

[SI_Shack]

Zeev, what would it take to take off your 'teddy' bear suit for a 'grizzly' bear one? I have many indicators lining up for this to be an "IT" top. In other words, this cycle of the bear is not complete.

It has to do with 5 days of +1000 TICK with a market going nowhere in that span, the equity P/C, the bull/bear surverys, the crappy internals and various bearish chart patterns running into strong resistance on may key stocks/indices.

Unless bearishness returns in abundance on the next pullback (which I think will be deep in any event), I can't see another leg up here, next year or whenever.

Like I said, what would it take for you go grizzly?

[Smart_Money]

The MSFT settlement is really old news. I guess the pundits are using it to rally the market for their own cause. Seems that investor quickly forgot Oct 17 when Mr. All Power and Mighty warned. This economy is worst than the government numbers published (some insiduous character massageing the numbers). Recently I looked at the Classified help wanted section. Usually the section has 50 pages but now only has 10 pages. That is worth mention and really a slap into reality. The news today is all fluff and no substance.

[zhina]

Zeev, With all due respect to the turnips, I Just HOPE we don't take off 1388. I want that 'cos i'm short too from 1347.
We strongly felt 1347 would NOT be taken, But they took it.
I agree SELL the "GOOD" NEWS , But I hope the Smart Money plays it that way. Honestly, I don't know who is buying at these levels, obviously only the smart money can do this. So the ramp up game will end when they are done with it.
Bullishness is at its ALL time high in 15 years, some report says. Who knows. I WISH you are right this time too as you were when ALL were after you at 1110 naz. level.

[punkle]

I'm close to capitulating. Zeev, being on the wrong side of the KLAC run from 28 to 38 has been less than pleasant.

Seems like you still believe in a pullback sometime soon. If I were to capitulate do you have advice as to when and where - i.e. what indicators would be most telling that would lead you to believe we will head up let's say another 50+ points from here - that's about the most I think I can stomach.

And then on the way down, is 1222 still in the cards or is there a halfway point where you would unload a portion of your position?
All thoughts are welcome here including all you bulls that have done well these past couple of weeks. I must admit, it is much more fun being a bull. Congratulations!

Thanks.

[AKvetch]

OMG. Poor Mooney, looks like the lawyers want to sue because his margin call depressed the stock price. Mooney exercises options with borrowed money, loses his stock because of the call, and Weiss sues too. Wonder if the CEO could be the "lead plaintiff" <g>.

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SAN DIEGO--(BUSINESS WIRE)--Nov. 1, 2002--Milberg Weiss (http://www.milberg.com/cases/omgroup/) today announced that a class action has been commenced in the United States District Court for the Northern District of Ohio on behalf of purchasers of OM Group Inc. ("OM Group") OMG publicly traded securities during the period between July 30, 2002 and Oct. 30, 2002 (the "Class Period").

If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel, William Lerach or Darren Robbins of Milberg Weiss at 800/449-4900 or via e-mail at [e-mail]. If you are a member of this class, you can view a copy of the complaint as filed or join this class action online at http://www.milberg.com/cases/omgroup/. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

The complaint charges OM Group and certain of its officers and directors with violations of the Securities Exchange Act of 1934. OM Group produces and markets metal-based speciality chemicals and related materials. Certain of the Company's products are value-added and some are commodity. The complaint alleges that during the Class Period, defendants made false statements about the Company's business and prospects. After reporting somewhat disappointing 2ndQ 02 results, defendants told investors that its business was strong and all the indicators were for a good second half. As a result, OM Group stock continued to trade above $50 per share.

On 9/19/02, OM Group warned the 3rdQ 02 results would be slightly lower than prior statements, but that results would still be significantly higher than in the prior year. Then, on 10/29/02, OM Group announced a huge loss, an inventory write-down and a future restructuring. OM Group stock dropped to as low as $8.60 per share on volume of $22 million shares. Later, on 10/31/02, it was disclosed that OM Group's Chief Executive Officer had sold all his holdings to cover a margin call on some 710,000 shares on OM Group stock which he had used as collateral for a huge loan. On this news, the stock dropped even further to as low as $6.12 per share.

Plaintiff seeks to recover damages on behalf of all purchasers of OM Group publicly traded securities during the Class Period (the "Class"). The plaintiff is represented by Milberg Weiss Bershad Hynes & Lerach LLP, who has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.

Milberg Weiss Bershad Hynes & Lerach LLP, a 170-lawyer firm with offices in New York, San Diego, San Francisco, Los Angeles, Boca Raton, Seattle and Philadelphia, is active in major litigations pending in federal and state courts throughout the United States. Milberg Weiss has taken a leading role in many important actions on behalf of defrauded investors, consumers, and companies, as well as victims of World War II and other human rights violations, and has been responsible for more than $30 billion in aggregate recoveries. The Milberg Weiss Web site (http://www.milberg.com) has more information about the firm.