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

To: George Statham who wrote (19341)	6/23/2024 12:55:59 PM
From: Kirk ©	2 Recommendations Recommended By George Statham Return to Sender Read Replies (1) \| Respond to of 26417

Thanks for the BPSEMI chart. It will be interesting to see what happens next. I've read some say it is going much higher and to stay long the highly leveraged SOXL while others have called a ST top with a tradable decline, ie a significant correction. I've taken profits in my large position semi stocks as it passed my "bingo" arrow head just above 5500 AND the distance from the 200-dma is by far the largest in 5 years, but other than filling a gap or two before challenging the 50-dma, I'm not sure any of my positions will go low enough to buy back shares as your chart sure show there is plenty of room before it gets overbought. Maybe a big rotation from the mega-mega caps into the smaller stocks with more value? Also, we've already had an 18% correction this year so... is another necessary so soon? (anyone can and please do answer)