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Technology Stocks : Semi Equipment Analysis
SOXX 283.56-1.7%Nov 17 4:00 PM EST
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To: Sun Tzu who wrote (89518)1/5/2023 10:44:40 PM
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Sun Tzu

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The SOX leads the market both up and down. The fact that it is showing relative strength is not surprising to me. Anyone who has lived through a few of these cycles knows that stocks in the group often begin to make moves upward when everything looks absolutely awful. I have seen some stocks actually refuse to give guidance about the future right before they bottom.

MU, the stock, for example is doing well despite the fact that there is hardly anything good to say about their business right now.

I think the market has another leg down before it truly bottoms but it probably will not happen right now due to the incredible number puts that have been bought.

Anyway, I think we need to recognize that relative strength in the SOX suggests that we are closer to the ultimate stock market bottom.

RtS
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