Replies to post #58404 on Zeev's Turnips Patch-No Politics (ZEEV)

[yankee]

Zeev, how do you see the Dow gambit. Time to start easing out of these stocks when we get an opportunity?

Yankee

[brightness]

The market action is so distributive in the past two sessions it's laughable. They are just gapping/running things up in the first half hour, then counting on the lack of professional participation to wade through without concentrated short selling to take the market down. More or less like I speculated a few days ago:
http://www.investorshub.com/boards/read_msg.asp?message_id=631726

[TREND1]

Zeev
You wrote
Not really as bullish as I thought I would be here. This is not developing "according" to plan at all.

comments:
(1)Have looked at correlation of Nasdaq 100 stocks with QQQ
since Dec 2, 2002 TOP
(2) QQQ has been dropping since Dec 2, 2002 TOP
(3) 27% of the nas 100 stocks have at least 90% corr with QQQ since Dec 2, 2002 TOP
(4) 44% of the nas 100 stocks have at least 80% corr with QQQ
since Dec 2, 2002 TOP
(5) 55% of the nas 100 stocks have at least 70% corr with QQQ
since dec 2, 2002 TOp
(6) Only 21% of the nas 100 stocks have a "negative" corr with
QQQ since Dec 2, 2002 TOP.
(7)Even a good day trader like you will have a harder time
with such data since dec 2, 2002 TOP. IMHO.



Larry Dudash
http://www.geocities.com/larrydudash2002/index.html

[krazikid]

<<Not really as bullish as I thought I would be here. This is not developing "according" to plan at all. Last
week should have been much better and today was a disappointment with option players refusing to lay
out puts. Hopefully, the "professional" are already out on Christmas vacation and the market could levitate
a little on its own. But it sure does not look like intrinsic strength is out there.>>

an unbullish equity options indicator is all it takes for the turnips to start waffling? run for the hills? a possible 25% SOX run into/through January is now history?

a few bullish signs...

BBH closed above its 200dma. coming out of a tight range. it's been a long time since that happened! 50 dma 20day ema and 200 dma are all coming together. an explosive move is near.

KLAC closed back above its 50 dma, positive verging dmi, bullish stochastics, 50dma is in an uptrend. a sox leader.

QQQ and naz closed above their 50dmas. positive verging dmi's, bullish stochastics, 50dma is in an uptrend

My "turnips" think an explosive move is coming led by the bios first, with the semis on piggyback. The naz has basically based for 2 weeks with no real damage. A pop could easily occur over the tight range flag type formation. Psychology can change very fast. Turn the 20 day ema back up here on the naz with a pop over it at 1392. Hold that for a couple days. Take out the 1462 200 dma.

Tonight the charts look bullish. I think your turnips are just early Zeev.

[muteryuin]

oh oh, now we'll have santa's rally, I'm in.

[balmywinds]

What makes you so worried? You don't sound like yourself, anything wrong?
Is it the lack of expansion in the internals or the low strength of the chart level?
Do you think they'll test 1500 again before we know more or are we meandering here into January?
There was some talk that the Iraqui currency lost a lot of its value last week following a massive withdrawal of billions surrounded by rumors Saddam may flee the country. Do you know where we can find a chart of the Iraqui currency?

If there is any truth to that the Dow will go 2000 points in 3 days.

BW