Replies to post #106341 on Zeev's Turnips Patch-No Politics (ZEEV)

[techanalyst1]

LOL! That is just what I mean!

We keep getting game over! calls.

We have soooooooooooooo many breadth and momentum indicators at extended areas that have seen major tops and yet we get dip buyers coming back.

It's like the bulls who kept crying that this had to be the bottom. I think the shorts are holding this market up.

Might we get a rotation in stocks out of what has been up a lot to what has been hit? That would account for the market's ability to keep making about 5% of the indexes at 52 week highs. The ones that were making new highs in the early run and even recently have not been the ones that are making highs now.

And that also explains the weakness in MMM.... there are so many that are down, they "might go up more"....... so MMM becomes a source of funds....

It also explains why a stock like cmvt kisses a new high by pennies and is now down 10% from that new high

Well... maybe. That is what seemed to be happening in 1999 before the major blowoff.

TA

[Zeev Hed]

Come on West, if you are right and we get a blow up here, why would the biotech suddenly collapse?

Zeev

[westpacific]

Reading the tea leaves, very bearish close on many indexes..........................................

No emotion - just trading what the charts tell me - working very well.