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Post# of 704019
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Zeev Hed

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Zeev Hed

Re: Rick Storm post# 87375

Saturday, 03/15/2003 11:57:39 AM

Saturday, March 15, 2003 11:57:39 AM

Post# of 704019
Rick, not every bottom is the same, read what I wrote about an extremel powerful move to come on October 10th 2002 here #reply-18100366, note that the signal for that bottom was not the existing leadership, but the extreme in the lack thereof. Since the last move down to 1253 on the Naz and to 7400 on the Dow was not associated with extreme negatives by any means, decimation of existing leadership should not have occurred and the run back up to the late February/early March high should be associated with additional leadership if this move is indeed a bull move from a bottom. Since it is not, I expect at bets, a fake recovery high (thus a possibility of exceeding 1353 this week), but nothing more. The Nassacre is alive and well and now we should go into Phase II. Apart of that, it is not just the lack of expansion of new highs that is troublesome (it is a confirming indicator that this is just a DCB), the fact that we are still far from about 350 new lows on the Naz and about 600 new lows on the NYSE is also troublesome and indicative that a bottom is far from having been reached(these are "reach" numbers in my model, but could be exceeded).

Zeev

AZH

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