As SOPX approaches 600 nothing can be more satisfying for a long term investor like me,'SOX will break 500 and market goes to dogs.'
I wrote on that analogy that 'SOX has lost siginificance at these levels to break,' on China my first report after the incident is part of this thread, it happened the way I thouhgt within a week diplomacy was successful, only because we are rational in our analysis.
Today within a 6 sessions it is so nice to see SOX 600 coming up so solid, the double close test never really worked below that 480 area on SOX, the people need to look at it hard we are moving on to 600 and 630 where the shorts need to cover hard..it is very big move and as I have written in them morning ' Value is every where' market goes higher.. it was sold on rumors and the huge tech recession will come around and kill the internet, the stagflation was nonsense, inflation is non-existant, the GE's of the world do not fell the recession which inner city boys talk about, and here we are, looking at a possible another .5% cut.
I expect it sooner than later, AG could not cut it in a falling market but with GE and TECh reassurance that the world is not ending, he will cut, last time on 3rd jan I wrote that and rate cuts cmae in fast, this time I want the cuts to come in after some more news on earning front. |
