Posted by chartboy on 22nd of Feb 2021 at 06:20 pm
If you have been around long enough, you will remember when
semis led literally everything in the market (2000ish). They are
always something of the canary in the coal mine. That is why
you would be missing a big piece of the picture if you were not
away that 2.618 extension of 2000 high to 2008 low @259.
Posted by fredsaid on 23rd of Feb 2021 at 12:05 am
Don't think we are there yet unless people start dropping like
flies from the vaccines ... I don't expect that news or something
equivically nutso (like an early Fed Funds increase) to hit
till the fall but it sure looks like it right now don't it ?
Posted by chartboy on 23rd of Feb 2021 at 06:45 am
You are mixing your perception of fundamentals with
technicals.
I will take the evidence provided by a 20+ year chart pattern
that is several standard deviations from the norm over any opinions
of the fundamentals 100% of the time.
I was literally one of the world largest traders of semis (by
daily volume) at the time of the last top in 2000. Believe me, the
funds that doing the buying, like Janus, were not operating on
fundamentals. They were just operating as a function of money
flows.
If you have been around
Posted by chartboy on 22nd of Feb 2021 at 06:20 pm
If you have been around long enough, you will remember when semis led literally everything in the market (2000ish). They are always something of the canary in the coal mine. That is why you would be missing a big piece of the picture if you were not away that 2.618 extension of 2000 high to 2008 low @259.
Last week’s high was 258.59.
Don't think we are there
Posted by fredsaid on 23rd of Feb 2021 at 12:05 am
Don't think we are there yet unless people start dropping like flies from the vaccines ... I don't expect that news or something equivically nutso (like an early Fed Funds increase) to hit till the fall but it sure looks like it right now don't it ?
You are mixing your perception
Posted by chartboy on 23rd of Feb 2021 at 06:45 am
You are mixing your perception of fundamentals with technicals.
I will take the evidence provided by a 20+ year chart pattern that is several standard deviations from the norm over any opinions of the fundamentals 100% of the time.
I was literally one of the world largest traders of semis (by daily volume) at the time of the last top in 2000. Believe me, the funds that doing the buying, like Janus, were not operating on fundamentals. They were just operating as a function of money flows.
Great insight - thanks Chartboy.
Posted by z0ned on 23rd of Feb 2021 at 06:58 am
Great insight - thanks Chartboy.