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Philadelphia Semiconductor Index

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SOX trade ideas

PHLX SOX Index: Long term reversalWith heavyweight Intel getting hammered today, the outlook of the broader semiconductor index obviously gets dragged along. The already unconvincing outlook of the past months has taken a turn for the worst by breaking below cloud support at 1299. The minor internal trend line at 1272 is now scrutinized but a move lower seems a mere formality. Focus is on the reasonable support zone at 1211 at first. Below that a new primary down trend takes hold towards 1122 (daily projection) and probably a lot lower on a 6+ month horizon. After all, the current breakout means the start of a multi-month corrective phase with very substantial down side risks. Avoid any longs in the sector. New short-entries are justifiable as long as prices hold below ~1345 over the next weeks. Near term trend: negative Long term trend: neutral Outlook: long-term reversal expected Strategy: avoid/exit-long or trading short-entry Support: 1272 / 1211 / 1122* Resistance: 1345 / 1360+ Outlook cancelled/neutralized above 1345
TVC:SOXShort
by buyem_nl
Semiconductors hit a weekly double at the 2000 crash level.Semiconductors hit a weekly double top at the same level as the 2000 dotcom crash. I went long SOXS (3x semiconductor bear) and long SDOW (DJI 3x bear) in my 401k right before the market closed yesterday. I got lucky as a bought these right before the Cohn resignation announcement which tanked the futures market. I had also gone short 2 DJI futures. I already closed that trade last night for a solid profit after the big Cohn drop. SSG is a low volume 2x semiconductor bear etf which I would avoid due to low liquidity. I wish there was a 1x bear etf to avoid the daily rebalancing problem. My SDOW and SOXS remain open in my 401k.
TVC:SOXShort
by haug01
SOX Index: Where Is The Growth?Earlier today I presented several charts for Intersil Corporation, a leader in the design and manufacture of high-performance semiconductors. ISIL products are used in some of the industry's fastest growing markets, such as flat panel displays, cell phones, other handheld systems, and notebooks. At the time I cautioned you about an Index that your stock choice might be in. ISIL is not in the SOX Index, but, INTC, ASML, CY, MU, ON,, XLNX, all are. You could run charts for all of these, and they would mostly look like the index. But what if you found a real gem of a semi-conductor stock? Could you buy it if the SOX Index is likely to decline? The SOXX-ETF mirrors the SOX Index. Be careful when you find a strong stock if the particular issue you are interested in is in a weak or declining index. If the selling in the index is powerful enough your gem of a stock will probably go lower, too, because the "manager" may have to sell your "gem" to raise funds. This is one of the reasons even great stocks decline. BUT, study your STRUCTURE, and enter at KEY support levels. After all, it's your money. Spend it wisely. Look, the markets are a tough neighborhood. To quote the late, great Rodney Dangerfield: “I came from a real tough neighborhood. Once a guy pulled a knife on me. I knew he wasn't a professional, the knife had butter on it.” I hope all of your trades go well. Don.
NASDAQ:SOXShort
by 649bruno
Copper Has Been ReplacedCopper in my opinion has been replaced by technology, specifically semiconductors. The market seems to be much more focused on the happenings of Silicon Valley rather than Milwaukee or Detroit. While the industrial sector still remains a large piece of our economy it no longer is the driver of growth. At least that’s what price action has been telling us. The chart below shows the performance of the S&P 500 (black line), the Semiconductor Index (red line), and the spot price of Copper (green line). You can clearly see that copper has not been enjoying the bull market party while semi’s have been moving right along with the market. It’s a little hard to see, but in 2011 we saw semiconductors break away from the S&P 500 as the industry made a lower low, a divergence that the equity market eventually fixed by falling in price by nearly 20%. Ever since then we’ve gotten confirmation by the semi’s of the new highs in the S&P. It seems Copper has been expelled while the semiconductors step to the front of the class.
NASDAQ:SOXLong
by charttrader
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