Bateman, Kurlak may be trending "Late-Elvis" at this point, but I'm not anywhere near to writing the guy's obit. He's still a market force worthy of close attention and if he goes back to bull phase he moves back into "Early-Elvis" in terms of price impact.
Yet another irony: I've been fairly critical of TK and I'm willing defend the guy on this one...
...but to be totally honest I can't say whether the call is really driven by an intellectually honest view of the fundamentals, expectations of price movements/consensus estimate revisions, etc. or in part by the fact that the guy's been getting his ass kicked every which way during the $SOX rally and has the appearance of a sore loser.
That's the problem with crying wolf, or to be fair to him, giving the appearance that you're crying wolf.
In re: his current bear phase, by mid-summer the guy could be totally right. IMHO, he's right (although the market seems to be disagreeing with both of us), but shame on him is he's right for the wrong reasons.
Don't get me wrong, the "tear-stained tissue over TK" count in my warroom was 0 yesterday <g>
Good trading,
Tom |
