Replies to post #104693 on Zeev's Turnips Patch-No Politics (ZEEV)

[punkle]

OT: But you are killin' me with your posts:

"its gonna slip like a bullseye hit on the clown in the dunk tank."

Keep the great posts coming. A little humor here and there is nice.

[plexxus]

While a pullback is needed and warranted I think we are far from being topped out here. A/D line was solid and up/down volume strong given the movement in the indices. Even Japan is positively diverging here on the daily and I think we'll see higher prices there in the days ahead...up over 200 pts currently. There are simply too many shorts in this market to keep it down and given that we are heading into an election year I think the path of least resistance is to the upside. Small caps should continue to outperform the big caps near term. The 200 EMA is FINALLY turning up here for the first time in 30 months! Im also expecting a golden cross of the 50 above the 200 day by the end of the month. Volume on the last couple of significant pullbacks totally dried up giving the bulls more and more conviction. I think 1521 is gone in a week or so. MACD remains in a solid uptrend on the daily.

Time will tell as always.

[lee kramer]

federal reserves: <1.9 billion shares unloaded> Perhaps. Perhaps 1.9 billion shares were merely "traded." Some of those 1.9 billion shares represented traders locking in some profits; others were initiating positions; still others were taking losses. After a two month, 20% run, yesterday was a 1-day reversal. Not likely a top; not likely a resumption of the bear market. Yesterday's action was normal and the probability is pretty good that the "market" will pull back a bit. And as always, there will be stocks that will react, others that will rise. There's a scene in the movie "Bull Durham": The manager addresses his ballplayers. "Baseball is a simple game. You catch the ball, you throw the ball, you hit the ball." So too is technical analysis. You pull up a chart, you look at the chart, you listen to what the chart whispers to you.