semiconductors etf looking bullish, contracting pattern on declining volume, possibly breaking out this week.
Agreed. I bought SMH and TSM a couple of weeks ago, and have held NVDA for 12 months. SMH is doing fine and looks like doing better over the next couple of months. TSM is a bit undecided. NVDA looks a bit overpriced currently, but I might top up when the price dips below $675. The demand for semiconductors can only go up over the next year.
Yes, by all accounts demand is higher than ever, while supply has been struggling to keep up for various reasons.
Definitely a hot sector, and I think will be one of the leading sectors in coming years.
Semi stocks have had a good run up, but consolidating of late as illustrated by the etf. Noticed a couple of breakouts within the sector and a few others setting up.
Also agree, I bought into £SMGB last week and hold $ACLS - Axcelis Technologies , as one of my largest SIPP holdings.
:) Yes, I noticed that tweet as well - I must be doing something right!
It's started well, no signs of dipping back in today.
I do think this move could have legs considering the macro environment, so I'll be looking at holding for weeks / months, unless it gives reason to sell. Intention is to hold through any short term pullbacks ("natural reactions").
NVDA has 2.5x for me (held it through some painful drawdowns too) and I consider it to be a core position of mine - agree it looks like it's forming a short term top and buyers are drying up, and we could see a pullback to 645-675, maybe even a bit lower after this 6 week run.
