Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Three Reasons Why You Should Be Watching Semiconductor Stocks

By

These could be chips without dips.

PrintPRINT
As I settle in today's trading while trying to shake off the dual forces stemming from my absence in watching the tape for the last 2 trading sessions and the "withdrawal" that always occurs from visiting Minyanville headquarters, here are the levels in S&P 500 that I'm watching.

With today's gap down, the S&P 500 is at the 200-DMA and 50-DMA support (simple, not exponential). A close below this all-important level will leave it vulnerable to finding support at the 880 level.

As I opined earlier, over the course of the next 2 months, the 200-day moving average will start factoring in the massive decline in September and October of 2008, so the support provided by the 200-dma will move successively lower. Something to keep in mind since S&P 500 can move lower in point terms and still be at "support."

This is more important for the other indexes like the Dow Transports and Russell 2000 (that fell about 40% in 40 trading days back then).


Click here to enlarge.


In 1971, Albert Mehrabian said that regular communication can be broken down thus: 7% of the content is understood in spoken words; 38% of the content is understood through voice tone; and 55% of the content is understood via general body language.
< Previous
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

PrintPRINT
 
Featured Videos

WHAT'S POPULAR IN THE VILLE