Kirk's Market Thoughts Message Board

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Non-Tech : Kirk's Market Thoughts

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Oct 31 3:59 PM EST

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To: Kirk © who wrote (6468)	12/26/2018 6:41:43 PM
From: Lazarus	Read Replies (1) of 26388

I've seen plenty of contrarian indicators --- Drudge in particular is one I always look at. That said, When I look at this 20 year monthly chart of the DOW -- its definitely unlike anything before it. We haven't even hit the red line yet. VIX has been MEH and friends I've spoken with about the market drop are all MEH -- so there's a lot of complacency amidst a whole lot of technical damage. President blaming the fed, others blaming the algos or hedgfunds, others suggesting its just year end clean up ---> but I say its a crisis of confidence. Did you go long today? Were you lucky enuf to catch a bottom today (I know many did, and I among them) BUT how confident are you about holding your longs, how vigilant must one be to protect their profits, if they did go long today. LOTS of traders are underwater. Lots of traders bought early on this downdraft and are not near whole. I suspect more volatility for months to come. I could be wrong - but that's my read.

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