Kirk's Market Thoughts Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : Kirk's Market Thoughts

COHR 191.91

+0.5%

Dec 23 3:59 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: POKERSAM who wrote (16433)	8/2/2023 8:24:22 PM
From: Kirk ©	2 Recommendations Recommended By nicewatch Return to Sender Read Replies (1) of 26834

Well, you've certainly been predicting a major decline here most of the way up from the October low. Eventually you will be right, but I'd think you'd wait for more than a tiny pullback in the markets before you celebrate. <grin> For example, I took MASSIVE profits for my personal portfolio on Monday to get "back" to my neutral asset allocation.... I expect a decline to the 50 or even 200-day MAs would be very healthy now... or just a few gap fills on my chart for a 3 to 8% decline. FWIW, Apple and some of the other "Super Seven" stocks were way ahead of any reasonable fundamentals. I'd not be surprised to see a rotation into the Russell 2000 type stocks or even the other 493 S&P 500 stocks. As such I sold about 2/3rds of my Fidelity Contra Fund in my IRA which was loaded with the Super-7 stocks and up over 30% YTD. I sold some of my capx stocks in my IRAs too... IF we get a deep enough decline, I may buy them back in the ROTH. BTW, if you look carefully, you'll see some of the loudest economic bears calling for a recession to begin in the 2nd Half of 2023 (ie NOW) are hedging and squirming. Many are using my idea of a "rolling recession" but few have taken up my belief it STARTED in December 2021 in my leading indicator tech and other stocks that coincided with two negative GDP quarters. Most of the economists seem so poor at math and digging into their indicators to see that jobs didn't fall because of government interference such as paying people to not work and not requiring them to pay loans or here in Stupidfornia, renters were screwing landlords by not paying rent because Governor Hairdo wouldn't allow evictions. Anywho.... we're getting back to normal... I just wish we had someone 20 years younger without fugly hair plugs from both parties to vote for in 2024... .

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next