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Friday, January 14, 2011

Chip Stocks on Fire

Semiconductor stocks and tech stocks in general have been breaking out of sound bases and are enjoying an enormous surge of pent-up demand. While the longer-term picture appears very bullish at this point, quite a few names in the group are becoming somewhat over-extended on a short-term basis, and a pull-back of some degree may not be too far off. Take a look at the $SOX in the past eight months or so, followed by a "big picture" view of the index on a long-term weekly chart.



Trade well.

-- Brinkley
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