Tuesday, October 03, 2006
Sector Spotlight: Semiconductors
They pile into fucking airliners, as if 9/11 never happened. They buy retail stocks, as if the consumer is rich with savings. They buy auto stocks, as if GM and F actually make good cars.
Have investors forgotten the painful times, already? Do they really believe the shit they read and see or are they just sentimental fools?
As for the semi's:
Next week LRCX sets the tone, being the first major semiconductor company to report 3rd quarter earnings. Today, the SOX is not rolling over, despite a mega warning from MRVL. Therefore, I am going to dig in my heels and find another semi to sell short. I feel the SOX should be down at least 2% today.
Currently, I am short ATHR, RACK and long MZZ.
The following Semiconductor stocks have absolutely no mojo:
I feel earnings will dictate the direction and tone of the market.
Since feel earnings will be less than expected, well, you know what I think will happen.
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