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Non-Tech : Kirk's Market Thoughts
COHR 185.83+5.8%Dec 19 9:30 AM EST
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To: Berk who wrote (22512)1/19/2025 2:39:47 PM
From: #Breeze1 Recommendation  Read Replies (1) of 26808
 
In the case of BABA I'd wait until the first two sub-waves of Wave i of Wave (iii) are complete (using hourly charts with the Laundry Keltner Channel) and then take a position off the reversal using the Keltner, RSI and the TSI. Also China stimulus programs has had false starts. So bottoms up wave counting is a must. If it's experiencing a deflationary cycle, then its stock indices will struggle. Tepper got wacked when he went long Chinese stocks last year.

If you go back and look at the model I made for NOC. I wanted to buy it but determined that it was in the process of completing Intermediate Wave (1). If I had bought I would have experienced a 61.8% pullback w/o prudent cash management. So I sat on my hands till Intermediate Wave (2) was complete. And even there I didn't get the exact bottom because Intermediate Wave (2) was not a simple ABC.
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