alice

Semis Bearish, as Projected; NFTRH+ Short LRCX Finally Cracks

NFTRH+ short idea LRCX (chart below is from the original update) tested my patience royally.  As it whipsawed above and below 80 I held it short (and also shorted its Semi Equipment fellows AMAT and MKSI) simply because my fundamental views have done a 180 from what they were in early 2013.  I’ll not belabor the reasons as they are already posted, repeatedly.

Suffice it to say I am pleased to see this pig finally crack and reward my patience.  I think trends are changing this year and when that happens, the likes of me (a non-day trader) can have more patience with longer-term positions.  I have not been able to position trade for a couple of years now as the market’s momentum eased in 2014 and went away in 2015.  Now should come the new intermediate trends.

As for Lam Research here, it is coming to the projected support zone where day traders would probably take profits.  I am going to hold it short, however, against other positions.

lrcx, lam research daily chart from nftrh+

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