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Wall Street Breakfast

Will this market go higher than anyone expects?

Wall Street Breakfast

Seeking Alpha

Business News, News, Business, Investing

4.11K Ratings

🗓️ 7 January 2024

⏱️ 14 minutes

🧾️ Download transcript

Summary

Cestrian Capital Research's Alex King is worried he isn't bullish enough. Markets from a technical analysis perspective, using Elliott Wave and Fibonacci (2:25). Taking advantage of AI, tech sector (6:00). This is an abridged conversation from a recent Investing Experts podcast.

Episode transcripts seekingalpha.com/wsb

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Transcript

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0:00.0

My instinct is is we're going to see a continued run up in markets through 24,

0:14.5

certainly up until the presidential election, and we'll see what happens after that.

0:19.3

And if that happens, then there is a possibility that actually the low that you should be measuring from is the COVID crisis low.

0:28.0

And if you measure from that low, again using many technical analysis methods, but certainly ours, that it says that actually the

0:34.8

NASDAQ and the S&P could run up quite a long way from here.

0:37.8

You know, numbers that sound silly right now.

0:39.3

So if I looked at the Kikiku Q and I took our bull case and it is our bullish case you'd say it could run up to

0:46.0

650 but that sounds silly now there's not really much point saying that but then the

0:49.9

start of large bull markets if you come up with any price targets it always sounds

0:53.3

three at the time so the best thing to do is see how it goes so the work for us is again in

0:57.6

the Nenas that look at what happens when it gets into the low 400s on the

1:00.9

QQQ if the strength through there if it's really powering up, well,

1:04.0

then I think we'll think, well, our base case is a bit too visible.

1:07.0

And if it's hard going and it's, you know, faltering and thinking about turning over and hitting resistance levels, then I think we'll think,

1:13.8

okay, you know, the cycle's done and then we're back into a bare market. And I don't have a religious

1:19.4

opinion on that. I think we'll just let the market tell us what it's going to do.

1:22.6

You know if the market is going to dump and you know how you know it because it starts dumping.

1:25.6

You don't have to be any kind of rocket scientist here. It tells you. So that's a long answer, but in essence,

1:31.2

I think base case expectation here is it's going to run up some more and if I look at where could we be wrong

1:37.4

I think where we could be wrong is and what I'm most concerned about is

1:41.6

You know turning to sell too soon. I'm not concerned about is, you know, turning to sell too soon. I'm not concerned about the

1:45.1

market, the bottom is going to fall out the market tomorrow and oh dear I didn't sell the

...

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