Think Semis Are A Good Play? Wrong.
Jocelynn Drake, Option Advisor 06.30.06, 11:30 AM ET
Cincinnati -
Is the Street looking for semiconductors to lead the market out of the June doldrums? If sentiment among options speculators is any kind of guide, the answer is an emphatic “yes!”
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Optimism continues to build on chipmakers despite their less than impressive technical performance. The PHLX Semiconductor Index (SOX), as of June 29, was down more than 20% from its January peak, descending under the guidance of its ten-day and 20-day moving averages. Furthermore, the index is poised to finish June below its 20-month trendline for the first time since October 2005.
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Tuesday, July 04, 2006
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