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Non-Tech : Kirk's Market Thoughts
COHR 134.65+4.6%3:59 PM EST
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To: POKERSAM who wrote (14665)11/11/2022 7:10:49 PM
From: Kirk ©1 Recommendation

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Mongo2116

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Well, we saw 4001 today, about 7 weeks BEFORE 2023 thanks to a 510 point rally.
This is hardly more than a 280 point rally. The downside from this rally could be horrendous.
4000 will not be seen in 2023.
Is it time to retool your model?

I have the green and blue lines on this chart as major support with min targets for each at ~4060 and ~4360.

As long as those necklines hold, I'm bullish but would not be surprise to seem the blue tested from above just like the breakout above the green line was.

4360 if next year would test the lower end of a channel we broke below so it could technically be a cyclical bull market rally in a secular bear... but you know I really don't care what we call it.. as long as the volatility continues to be good for me.

Yes, there has been a significant drawdown during this bear, but I raised a lot of cash as we were making record highs so I've kept quite a bit of my gains from the pandemic low (and all the other major bears going back to 1998 as seen on my graph.)



I probably won't feel great until this get to the record high again... then I'll be worried I haven't taken enough profits getting these!

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