Decided to get some soxs today. spx run loosing pressure? Will another china tweet push over highs? will tsm lowered guidance inspire investors?
SOXX broke 600MA yesterday, retested and failed today, not a good sign. $SOX #SOX $SOXX #SOXX #semiconductors $MU $NVDA $AMD
Short semis more for the pull back if there are any. At least 20-40% more downside ahead before really buying the dip.
$NVDA broke down last week. Here is also a chart of $MU. If its here or lower then first target is at $33 or 20% lower from here, but I wouldn't exclude a correction to $27 or -33% from here!
You know what to look for. Pretty straightforward.
Re-drew the chart based on updated signals.
Potential bottoms detected using Bottom Finder script, contact me if you want to subscribe.
$amd $soxx $soxl $soxs $nvda I'd love to see AMD back at 9.70-9.90 for the ride back up. Has been a beautiful symmetrical/descending triangle. If it breaks out above in coming weeks/months, expect the price up to 17-19.. before descent back to test breakout level of sym. triangle.
I've got my eye on a potential swing trade setup in semiconductors.
Lam Research (LRCX) delivered strongly in their Q4 earnings report, but the stock has since tumbled almost 10%. The market for semiconductors is not going anywhere... Target: give it to your grandchildren, or at least until processors using silicon fall out of favor. SOXX and SOXL are also good ways to get some exposure to LRCX and the semiconductor market.
completion at 10.12 although due to the overwhelming selling pressure I will play this one with careful. Preferable buy near 200MA (9.75) but I'm happy buyer near 10...will see it opens tomorrow.
Entered my 1st pos short via $SOXS - One of the hottest sectors this year since the Feb 2016 lows.
Acc/Dis line indicates significant accumulation at these prices
I like $SWKS here. I will open some call options at these levels.