BobbySpa

SMH - All time high!

Short
AMEX:SMH   None
Chips making all time highs on INTC news. Looks like irrational exuberance to me. Two pieces fell out of the channel and managed to right themselves eventually but the overall trend up 1000% during this bull run is remarkable. RSI divergence. Market trying to make new highs today. Fed out next week. GLD and SLV hard reversal today. Where are we? Nothing has changed. I still see a sharp downturn coming and SMH right down to the bottom of the channel.
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