Replies to post #76220 on Zeev's Turnips Patch-No Politics (ZEEV)

[TREND1]

Always interesting when you let me see a little more
of the cat inside the bag(g)
About once in every 200 postings(g)

[was Steve]

If we were to somehow hold these levels and rally, instead of continuing the drop into the end of the month/early march (call me crazy), it would not be unreasonable to have the nas close above the 1327 area and work towards 1400. This assumes that you were late on a turn call (theres always a first time) and markets reversed up before in time and price from your projections.

I am relatively new to forecasting, but learned from the best (you) when i started reading your work on si last july. I have gotten average overall. excellent on tops but lousy on bottoms (turns) so net rating is average.

My weekly charts are in turn mode now. ill have to sum up the 29 to see where they stand after todays events. Part of what goes into my trading range rather than a straight trip to oct lows is the weekly charts, levels of various indicators relative to extremes over last three years, etc.

kind of rambling here, but am most interested in your thoughts on a turn here or a little lower that takes the indexes higher for a few weeks to a month.
steve

[was Steve]

wanted to add one thing. with the spx it is quite clear that we have left the last box with the big break of 860-870 area. the nas isn't so clear. we have certainly broken below the 1327 area but are close enough that we could climb back in without too much trouble.

steve

[TREND1]

I find it interesting that for the last 8 trading days the Nasdaq has been around the 1300 level.

The 1300 is the 50% retracemnet of the Oct 2002 to Dec 2002
rise.

More interesting is that the Wilshire 5,000 has given up
on holding this 50% retracement and is on it's way down
to test the Oct 2002 lows.

Translation:
Nasdaq is not going to hold this 50% level and will play catch up to the bigger Wilshire 5,000.IMHO.

[profit_guy]

hey zeev, i never realized the turnips had such a history, and an online store (so i had to order a t-shirt...g):

http://www.funphone.com/veg/zt.html

http://www.cafeshops.com/cp/store.aspx?s=zturnips