SOXL - Semiconductors

[tsptalk]

Today's pullback in the $SOX (semiconductors) looks like a good opportunity to buy the semis

I'm not crazy about the large head & shoulders, but the bull flag and strong support below makes it look like a good risk reward. I bought some SOXL @ 31.23 this morning. It's a 3X ETF. A stop would be below the 50-day EMA right now.

 

[Birchtree]

Everywhere one looks there are golden crosses - I'm getting giddy.

 

[tsptalk]

Today's pullback in the $SOX (semiconductors) looks like a good opportunity to buy the semis

I'm not crazy about the large head & shoulders, but the bull flag and strong support below makes it look like a good risk reward. I bought some SOXL @ 31.23 this morning. It's a 3X ETF. A stop would be below the 50-day EMA right now.

After being up near $34 a couple of days ago, I moved my stop to break even, and I was stopped out this morning @ 31.25. Rats! Decent gain lost.

 

[Jackbnimble]

Looks like a good stop after a day like today Tom! Thanks for your insight, I read it way more often than I post.

 

[Bullitt]

Good move getting out when you did. Support at 21. Not looking good for a leading indicator.

FWIW, I follow 8-10 SOXL companies for insider transactions and it's been ugly the past 2 months. Nothing but outflows.

 

[Bullitt]

Watching Semi's for a breakout to the upside. This index is a market leader. Numbers have been great, and demand for chips is immense.

Reverse H&S with possible upside to 55-60.

 

[Bullitt]

SMH has broken out to the upside. Bullish implications for entire market.

 

[tsptalk]

But there could be some short term digesting first, like we saw at other breakouts...