The only "good news", and this is strictly from a contradictory view, is that they are shooting the generals without mercy. XLNX, MXIM, LLTC, etc had held up much better than the foot soldiers, until the last 3 months or so. This group is down 40% in the last 3 months. For example, XLNX is down about 25% in the last 10 trading days and dropping about 50 or 70 cents per day. Support levels seem to hold only for a few hours and as soon as there is a bounce the selling continues unabated.
The trend is still solidly down and shows little sign of attempting a reversal, IMO. My feeling is that fundamentals are being tossed out the window. Combined with the pile on mentality of the know-it-all analysts, the semi leaders are still in the middle of the perfect storm. Negative market sentiment, bubble hangover, little forward "vision", zero to negative value being placed on intellectual property, (add your favorite "piece of straw" here ) and we are breaking the camel's back. |
