Replies to post #381190 on Zeev's Turnips Patch-No Politics (ZEEV)

[chainik]

<i would not rule out one more big down day (or at least a down morning Monday)>

Laird, please don't consider me a perma bull, but IMO it is likely that down move on Monday (if any) will be very short-lived.

I totally agree with an argument that sentiment indicators work very differently in the bull and bear markets; still - strange as it may sound - by some measures we are as oversold as at the major bottoms (say, March 03). I went long on Friday at the close.

BTW, have you noticed that Saville turned short-term bullish on miners? He also does not expect a strong market decline in the near future. No consensus anymore among people you've mentioned yesterday (g).

[harker]

People here had better be careful. Almost every single person here is expecting a big bounce/rally Monday and or next week. Why???
Im not saying that it might not happen, but when this many people expect something to take place..it very rarely ever does.

[Zeev Hed]

A weak opening is definitely possible, but like last week we could easily have a 35 Naz points intraday reversal.