Replies to post #49328 on Zeev's Turnips Patch-No Politics (ZEEV)

[exp]

ZEEV, in addition, it looks like the Percent of Bearish Advisors will fall below the 10 YEAR LOW of 23% this week:
http://www.schaeffersresearch.com/streetools/inv_intel.asp
Interesting bullishness after 2.5 years of Bear.

[ajtj99]

Zeev, on all the major highs we've had since the bear started, the sell-off's have ranged between 6.5% (Dec. 2001) to 16%, with an average of 10%. That 10% number would work nice for a test half-way between the 1368 and 1319 levels if we get a local top around COMP 1500. The 10% drop from there is coincident with Max Pain on the QQQ at 25 for December.

A good example would be the May 2001 drop from 2328 to around 2089.

The drop I'm talking about is 2-weeks after the local top is in. The average is around 10% over 2-weeks.