There’s nothing you can do about it. Smart phone demand sucks and that trend is only going to worsen. Meanwhile, valuations in the semi space has risen to retard levels. You’d be wise to head back into your room, clean it, and then put on your SOXS.
The Semis are in correction territory. Prove me wrong.
Your SOXS
Well, what are you waiting for? Put them on.
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Poor r/r – Smh is a long vs last week’s low
Again, I don’t consider myself a trader, but SMH looks like a classic H&S pattern, which means it will drop and test support at $80 (although will probably have a bounce at $86). Also note how volume is increasing over the last few sessions
I’m still gettign killed on MU, but holding it until their next earnings call at least, to see what the real story is, their earnings/PE (bull) or the stock performance (bear).
Xlnx is what you want to hold here
So MU has 10x the revenue and 10+ time the income, and 3x the market cap of ILNX So even if there is a massive fall in MU’s earings (and XLNX escapes the same downtrend), there is still a lot more cusion in MU’s price.
ILNX may be the better trade in the short term, but MU’s the better play in the 6-months – 2 year time frame.
Make sure you don’t wear those SOXS too long. Designed to go to zero. Look at weekly un-adjusted for splits.