Kirk's Market Thoughts Message Board

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Non-Tech : Kirk's Market Thoughts

COHR 178.34

-10.2%

3:59 PM EST

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To: robert b furman who wrote (12889)	1/21/2022 7:57:26 PM
From: Kirk ©	Read Replies (1) of 26764

Could be but it closed above the blue line, flat for the day, so that is very bullish relative to the market and for the stock. Ideally, it would leave the Island Reversal that includes a "W bottom..." Easy for me to say having taken profits at $63 then put it all back in at $48 and $49.... already. The bad news is I discovered a H&S top on Google so if that crashes to target, it will hit my buy zone and probably take Intel with it.... but my guess is my $48 buy would hold and I'd probably add even more at that green support line. Intel was as hated when I did that buy at $48 as MSFT was back when Satya Nadella took over, I added a bunch and most were just happy to get out even with 2000 price where it consolidated for a year.... Lam also has a H&S top but it is a small one and it is getting close to the target PLUS a rising pitchfork support line.... so we'll see. Some other stuff says another week or two for a solid sentiment bottom and I think even the clx could get very supportive by then. Ideally, we crush the SPX by 15% to really get people beared up.... then have some of the "value" stocks like our semis and capx stocks show strong relative performance, perhaps with FDX also doing better... and we're off to the races again. Of course, I'm not making predictions... just looking for points to be ready. I had the highest amount of cash ever at the start of the year so I can afford to be patient as I also have plenty of stocks should they reverse. That is the nice thing about asset allocation.

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