Semiconductors have had a nice run from 44 all the way up to as high as 80 where it found resistance. The market is extended and also due to political "issues" and the month of may knocking on the door, I see SMH as an interesing possibility to hedge longterm positions.
SMH went back up almost to the .61 retrace. I'm considering shorting it right there in the 78.20/78.60 area, or will go with weakness when it falls back below 50dma. SOXS would be the 3x semi bear
SMH went back up almost to the .61 retrace. I'm considering shorting it right there in the 78.20/78.60 area, or will go with weakness when it falls back below 50dma. SOXS would be the 3x semi bear