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Technology Stocks : Semi Equipment Analysis
SOXX 303.84+1.3%Dec 22 4:00 PM EST
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To: Return to Sender who wrote (93329)11/13/2024 4:37:32 PM
From: Johnny Canuck3 Recommendations

Recommended By
Julius Wong
Return to Sender
Sam

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Someone hit the sell button on the semiconductor sector over the last 3 day. We have seen selling pretty much across the board for all semiconductor stock whether they had good or bad earnings and guidance. The gains have not lasted long for those that beat and guided up. It is more than TSM having to comply with not shipping cutting edge technology to China across the board which came out yesterday.

So far I don't see the rotation I would have expected into other sectors. The money looks like it left the semiconductor sector and just went to the sidelines.

That is not good for the market overall as the perceived risk of being in the market is seen as higher than missing out by being in cash.

We might be due for more of correction before deciding the next direction. Historically it is up after the election into the inauguration but traders might be now pricing in the economic plan of the coming administration.
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