Replies to post #76800 on Zeev's Turnips Patch-No Politics (ZEEV)

[TREND1]

Zeev
Just a note on Friday's close.
Les and I had much different numbers for YL10(59 vs 45)
After many emails the results were that the 16 seconds after the 4PM had wild readings on many Nasdaq 100 stocks.
These was seen via Esignal Time and Sales which shows every tick.

Translation:
Friday's close was "wild"

[extelecom]

Zeev, I have some trading questions. It seems that when I do manage to get on the correct side of a trade that I usually will exit too soon. I realize that many do the same thing, but you seem to be very good at it. I know in the past you have said that you use OBV and some form of "Boxes" similar to "Darvas" boxes. Can you supply any further information on the construction of these boxes and what specifically you use to judge entry and exit points? I realize this may be like pulling teeth from a Chicken, but I just wanted to ask anyway!<G>

TIA

[Ace Hanlon]

Thanks Zeev!

Steve Saville talking about a 1-2 week bounce before we go down hard again. The same as your alternative scenario.

[ajtj99]

NDX daily showing lots of resistance just above today's close:

http://stockcharts.com/def/servlet/SC.web?c=$ndx,uu[h,a]daclyyay[db][pb20!b50!b200!c13!c20!c50!i!d20...

H&S Neckline at around NDX 986, 20SMA and middle BB at 986, 20EMA at 987, and 50EMA at 1005.

I guess they'll have to give us a gap up on Tuesday <G>

Check out where we stopped on the COMP weekly chart. Right at the falling resistance line off the Jan/March 2002 highs:

http://stockcharts.com/def/servlet/SC.web?c=$compq,uu[h,a]waclyyay[de][pb20!b50!b200!c13!c20!c50!i!d...

If this is real, we would close above that line next Friday. If not, we're below it.

NDX 30-minute showing a bit of strain here, and an A=C target of about 990

http://stockcharts.com/def/servlet/SC.web?c=$ndx,uu[h,a]faclyyay[pb20!b50!b200!c13!c20!c50!i!d20,2!f...

NDX weekly 20SMA is at 1005. Also the middle BB.

http://stockcharts.com/def/servlet/SC.web?c=$NDX,uu[h,a]waclyyay[d7][pb20!b50!b200!c13!c20!c50!i!d20...

COMP daily has a cluster of resistance at 1323 (20EMA, 20 SMA, Middle BB),

http://stockcharts.com/def/servlet/SC.web?c=$COMPQ,uu[h,a]daclyyay[d7][pb20!b50!b200!c13!c20!c50!i!d...

1316 is the .214 re-trace off the 1522 top to the 1262 bottom. We stopped today at the .236 re-trace off the 1468 top to the 1262 bottom at 1310

[Babylon]

I am a little uncertain...

So potentially, if 1321/35 is breached, the original 1197/1223 target by the nominal 3/5 date would be actually "replaced" by our current IT low (1260 or so) and instead of reaching it by 3/5 it will have actually been reached when we touched 1260ish (that date)?

And all the targets would potentially be raised...for example, the target low of 950 would then be 1050 etc.?

If my understanding is correct, that would also imply that the Oct. lows will not be breached on the next leg down, if we were to in fact go to the mid 1400's upon the 1321/35 breach, our next IT low would be 1200 (250 points minus 1450 = 1200 or so and not breaching the Oct. lows as originally planned at that time...)....then countertrend rally to 1300 or so, then the last leg to bring us actually to only a a breach of the Oct. lows of about 1050 (1300 minus 250 = 1050...a breach of about 58 points as the the bottom of the last leg of Nasacre 03). Does this sound close, or do I need further reading lessons?

[Babylon]

I did forget to ask this however: regarding the 1321/35 area, would you consider it a do or die this following week (as your forecasted IT low should be upon us within 2-3 weeks)?