Wednesday, October 11, 2006
Sector Spotlight: Semiconductors
If you are a bear, you have to love the mismanagement at LM-- with their monster earnings miss. I firmly believe the market will plunge if we get too many bad reports. So far, I am not impressed with the quality of earnings.
As for the semiconductors, they're having a big day, up 1.1%. It appears the dip-buyers are out in full force today, buying the hell out of stocks like RMBS, AMKR and SLAB. With my money, I have little desire to buy any SOX stocks. I believe the fundamentals are weakening and are at risk to disappoint on earnings.
My favorite sector is still the Networkers.
The following Semiconductor stocks have mojo:
Meaning: If the bears ever met their buys with sells, the dip buyers would go away. But, they don't-- so they come back.
So far, I haven't seen any signs of let up.
However, I do hear a lot of good things about this qt, I am unwilling to cover-- before taking a profit.
When I short more, it will be enough to get me out quick-- if it dips thereafter.
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