Some of these Ukrainian defenders are so young!
Grown up now-
Grown up now-
Uhhhhh..... WHO CALLED THE PERFECT BOTTOM?!!!!Check this out. After I called the apparent bottom to the day on June 16 "The Immaculate Post" then I call this particular spurt again to the day- Wed a week before it happened... now after 13% of unmitigated joy.. Now...
Did you do 4300 by hand?
That's like me saying AMZN will see $150... and then when it does, be it a day or two months from now ... bragging.
USELESS WITHOUT A TIMEFRAME
I'm wrong.
I am. I've been doing more DD, going back to 2010, 2011, 2015-2016, 2007-2008, the dot com bubble. Not a lot of good numbers before that, just charts. I wasn't looking at charts, I was looking at the companies that are still around today, their PE's, price/cashflow, price/sales, ev/ebitda, and for fun, a few analyst commentaries. You could start a whole thread on that. Friggin' comical.
I'm not too proud to say I was wrong. I need to adjust my 2023 target down.
But I can't set a target. I think 10,100 would be a worst case scenario, but it's impossible to call.
That level is with the "known unknowns". It's the "unknown unknowns" that are impossible to make allowance for. And right now, the odds of an unknown unknown seem to be pretty damn high. That however is an opinion, not a fact.
So... I think I was wrong. The bottom on tech is not in yet.
In a nutshell... my initial analysis for a broad call like that was too myopic.
It was my bad.
With that said, I see the naz futures are up 84 points.
Thats my myopic analysis being right. Predicting the algo's.
I think I'll just stick to that and bite my tongue on everything else going forward.
Predicting the whales' algos short term is easy.
But no one can call the bottom right now.
EDIT:
I was right about one thing though. Recessions are healthy for the markets, and they're required from time to time. Kinda like weeding your garden.