The Semiconductor Index has filled a gap and maintained a series of higher highs and higher lows. So what did I do? Nothing, other than take profits on a couple items and hold SOXX, LRCX and AMAT for minor paper losses (AMAT is to the + again today).
I have a now-former subscriber who took exception to my market view that is contrary to Jesse Felder, Bill Fleckenstein and “technology expert” Fred Hickey. I will need to publicly admit my botched bullish view of the Semi Equipment sector if AMAT and LRCX disappoint the market this earnings season. What’s more, the bullish view of the SOX index will need to be owned and publicly admitted if it breaks down.
But here’s the thing; none of these things have happened yet. To tell you the truth, I am glad the SOX filled that gap and got it over with and as of now, it is a series of higher highs and higher lows. Them’s the facts right now.
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