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Non-Tech : Kirk's Market Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Sun Tzu who wrote (14856)	11/17/2022 9:08:31 AM
From: Kirk ©	Respond to of 26422

I'm seeing the same rotation into my most risky stocks with great potential that I saw when they bottomed in late 2008 then tested in early 2009 with some of those stocks (I believe Finisar to name one) was up double. A good decline could wipe out my neckline and we'd be back to looking for other signs. We have different perspectives on what constitutes a bullish formation. To me, the most bullish formation is if we were to hit the November lows between now and the end of January and end staying above it. I think were kept waiting holding the bag waiting for that. Note the higher lows...

To: Sun Tzu who wrote (14856)	11/17/2022 9:14:12 AM
From: Kirk ©	Read Replies (2) \| Respond to of 26422

Here is another chart showing a whole index, the Dow, making a higher low in 2003 vs 2002 We have different perspectives on what constitutes a bullish formation. To me, the most bullish formation is if we were to hit the November lows between now and the end of January and end staying above it. So.... for me.... I'd see the most bullish for this INDU chart would be a test of the 30,000 level to make a mirror reflection of the June low at ~30,000 around the 28,xxx low, which we see if you squint in both the 2002/03 and 2008/09 secular bear bottoms. My guess is we'll probably get tests of the 50- and 200- DMAs from above then wait until 2023 to see if we get another recession.