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Non-Tech : Kirk's Market Thoughts
COHR 154.52-3.0%Nov 7 9:30 AM EST
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To: POKERSAM who wrote (5501)2/4/2018 2:04:49 PM
From: Kirk ©2 Recommendations

Recommended By
berniel
POKERSAM

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Thanks for the clarification.

We've got most everything in place for a major top BUT we'd need some sort confirmations that any pullbacks are not just long overdue declines that should be bought. Until then, I'm a long who has taken a ton of profits and has my asset allocation to stocks at a record low... BUT still plenty to enjoy a rally to new highs.

One thing we've seen is complaining from semiconductor investors that the fundamentals are improving yet the stocks are going down. That happened at all the major tops so I've taken profits and have fairly conservative targets to buy back for many. You can still make money playing counter trend rallies in bear markets from the long side as eventually the markets bottom and recover.

I'll probably look at support and as long as decade old resistance levels that turned to support in this run hold, I'll see it as buying opportunities.

DO you chuckle at how so many claim to be ewave experts but they don't seem to agree on what the tea leaves say? I've read it all from "biggest up day in history" for Monday to "this looks like THE top" from people using ewave. For me, head and shoulders, wedges and such with defined, easy to see levels and targets make more sense.... but I'm willing to listen and learn. It will be interesting to see who is right for this one.

thanks again.
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