Ref. my post from last January that itself includes a link to my post from a year ago criticizing a media headline about a fund manager who thought he found “even bigger winners for 2018”, in the form of Semi Equipment stocks. The public got to suck on that gift wrapped hype a year ago for the holidays.
Well, the Semi Equipment companies like AMAT and LRCX went down the tubes long ago but now that everybody’s Semiconductor darling Nvidia is getting dope hammered it’s finally dawning on the herd that Semi is bearish and the brighter bulbs in the herd will eventually start to put 2+2 together and realize that this may well have been an early warning cycle indicator to the negative side, just as it was to the positive side in early 2013.
We’ve been on the signal (again, via NFTRH’s Market Internals segment, which I call the Report’s “Rudder”) for a full year. It’s been a frustrating wait because the Semi Equipment cycle is such an early bird. But now a year later it’s dawning on Wall Street and associated media that it’s a dead bird too. And yes, I am short the Semis.
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