Apparently, the semis which is the leader in this market are not taking a break. Despite the news on NVLS tonight, the semis in general are holding up pretty strong. Usually we might expect news like we has on NVLS to drop it more than just 1.00. And KLAC, INTC, AMAT, and MXIM barely flinched. I was hoping we would at least get a pullback to either a fib # or the 20EMA. How far will they go? We shall see - amazing isn't it.
SEMIS do not drop!
- Thread starter Solace
- Start date
Kinda sucks! I wasn't expecting KLAC to continue to go higher like it did. Oh well...
-FastTrader
-FastTrader
Perhaps it is possible that this upsurge in price was manipulated with the low volume we have had the past two weeks and perhaps we will see a retracement? It's possible that the NVLS report will have a deteriorating affect on the semis and begin the end of the rally. It's possible that the CEO of KLAC who just sold 50,000 shares knows this is as good as it gets. It's possible that the 1800 comp will offer strong resistance. And lastly, it is possible that despite the sharp angle of price we have recently witnessed, the technicals will kick in. KLAC will not make it to it's previous resistance point of 60.00 and the overbought indicactors and the vix and everything else that demonstrates just how ridiculus this squeeze has been will come into effect and cause a mass sell off.
I hope these words help in this time of uncertainty.
I hope these words help in this time of uncertainty.
The semicondutor index is pushing its 5 day RSI up to 89.5% and is unsustainablce.
The NYSE Tick hit another high of 1355 following yesterdays reading of 1213. (>1200 is extreme and mark an interim top)
ALSO small investors have become overly bullish again loading up on call options and bringing the CBOE equity put to call ratio down below 0.50......this is bearish....lol as individual investors are always wrong at exactly the right time.
Michael B.
The NYSE Tick hit another high of 1355 following yesterdays reading of 1213. (>1200 is extreme and mark an interim top)
ALSO small investors have become overly bullish again loading up on call options and bringing the CBOE equity put to call ratio down below 0.50......this is bearish....lol as individual investors are always wrong at exactly the right time.
Michael B.
I hope you're right!
-FastTrader
-FastTrader
Have I ever Lied to you..... 
without hope their is no vision..........and no not you visiontrader!
Michael B.
without hope their is no vision..........and no not you visiontrader!
Michael B.
I trust you Michael; you're good at this.
-FastTrader
-FastTrader
LOL....
Michael B.
P.S. Send money
Michael B.
P.S. Send money