We may get lucky with 259-260 support holding tomorrow, but after keeping CYMI through last Q, I can take another bad day in stride.
Since October, once a month a bad day in Asia (or an Asia-related earnings debacle) causes a serious turmoil in US equities. Most likely, we'll have a day like this in January, the question is how much damage will it cause. In my book, a monthly low for SOX above the previous low of 243 will be satisfactory.
In relative terms, semiconductors and selected semi-equipment manufacturers, CYMI included, should outperform S&P this year. Of course, this in itself does not always guarantee positive returns.
Good luck
Y. |
