Wednesday, March 09, 2011

Semiconductor Stocks Fall


Yesterday I wrote about the weakness I was seeing in the NASDAQ specifically the semicondustor stocks. Well today the semis got hit hard with heavy selling and was one of the weakest groups on the day. Some of the semiconductos stocks which experienced the most selling pressure today were ALTR(-7.07%), NVLS(-5.84%),XLNX(-5.54%) and KLAC(-4.60%) to name a few.

If you look at the above chart of the semiconductor index (SOX) you will notice that the index not only closed below support (last month's low) but also below the 50 day moving average. This is one group to watch closely as it can sometimes act as a leading indicator for the NASDAQ.

No comments:

Money-Making Ideas

DISCLAIMER

This site may include market analysis. All ideas, opinions, and/or forecasts, expressed or implied herein, are for informational purposes only and should not be construed as a recommendation to invest, trade, and/or speculate in the markets. Trading and investing involves high levels of risk. Any investments, trades, and/or speculations made in light of the ideas, opinions, and/or forecasts, expressed or implied herein, are committed at your own risk, financial or otherwise.
 
Google
Technorati Profile Finance Blogs - Blog Top Sites