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

To: Kirk © who wrote (15072)	1/6/2023 11:08:29 AM
From: Sun Tzu	Read Replies (1) \| Respond to of 26438

>> But don't you need something to confirm the price trend? Not really. It's a probabilistic bet. Take a position and put in a stoploss. Depends on how good of a tape reader you are. Here's my intraday SOX chart for today. The rule is simple: But near the green line on strength and sell near the orange line at the top on weakness. >> Yes if Oil usually surges when semi's start to tank... On what timeframe? Oil is a pro-growth macro indicator. In late cycles, oil surge means the economy is overheating and the interest rates are/will be going up. So I think this is more of a coincident/lagging indicator to semis than a leading one. But I'd like to hear your thoughts on it.

To: Kirk © who wrote (15072)	1/6/2023 11:19:49 AM
From: Return to Sender	1 Recommendation Recommended By Kirk © Read Replies (1) \| Respond to of 26438

I still don't see confirmation of a turn in the cycle to a new bull market. We have had some great days for the NYSE but nothing approaching an even 80% upside day on the Nasdaq. <SNIP from Briefing.com> Small and mid cap stocks outpace larger peers 06-Jan-23 11:00 ET Dow +519.63 at 33449.64, Nasdaq +152.11 at 10457.27, S&P +60.25 at 3868.35 [BRIEFING.COM] The S&P 500 broke meaningfully above the 3,850 level. All the main indices sit near their best levels of the sessions. The general vibe in the market is decidedly positive with advancing issues leading decliners by a 7-to-1 margin at the NYSE and a 5-to-2 margin at the Nasdaq. Small and mid cap stocks are faring better than their larger peers today. The Russell 2000 (+1.7%) and the S&P Mid Cap 400 (+1.9%) show bigger gains than the three major averages. The U.S. Dollar Index plunged after this morning's data releases, down 0.7% to 104.31. < Loads of puts bought recently by small investors. Those positions are going to expire worthless. Then we will see what happens. No doubt we are closer in time to a bottom every day but we have yet to see it. JMHO, RtS