Posted by: rp on the 23rd of Dec 2011 at 02:54 pm
kalinm- good points. fwiw, here’s my take on the $SOX. big picture, just like everything else, we are not even close to having the primary downtrend in jeopardy (i.e.- semi’s are firmly entrenched in a bear market at this point).
shorter term, that looks like some pretty formidable resistance coming up on the 60 min chart. if the semis make it there without a pullback or consolidation first, that should make for a very good r/r short at that level. again, that assumes the current rally continues without letting off much steam.
