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Yes, really. I have been long the semis, as a whole, with the thesis that they have made a meaningful bottom here. One, but not the only, reason for my bullish stance is the obvious RSI(14) divergence, as seen below on the daily SMH (ETF for semiconductor stocks). Members of 12631 are fully aware of the instrument that I have chosen for this play.
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Excellent call Chess. These divergences are some of the best buying opportunities, especially if they correspond with marginal new price lows to trap the people shorting the breakdown.
Indeud.