Dr. Kris'  Instablog

Dr. Kris
Send Message
Dr. Kris hails from the land o' lakes, beer, bratwurst, and Bucky Badger. She traded in her cheese hat for a propeller beanie and has never looked back. She has two degrees from MIT because one just wasn't enough. Her life goal was to figure out the universe and having done that (at least to her... More
My company:
Stock Market Cook Book
My blog:
Stock Market Cook Book
  • Market Notes: Semis Keep On Truckin' -- June 17 0 comments
    Jun 17, 2014 5:21 PM | about stocks: SMH, SOXX, ATML, IFNNY, SYNA, MTSI, AMKR, CY, MPWR, RMBS, SPWR

    Tech stocks have been lagging the market but lately they've been playing catch-up. Regarding the major averages, the biggest movers today were the tech heavy Nasdaq (+0.4%) and the small-cap Russell 2000 (+0.8%). These indices got a big boost from internet stocks and especially the semiconductors. We've been noting how the Semiconductor etfs (SMH, SOXX) have been advancing along with the oil producers. However, the latter group has finally decided to take a break leaving the semis to do the bulls' heavy lifting. And it's really no wonder since a lot of M&A (mergers & acquisition) activity has been happening in this area and judging by the heavy trading volume, it appears as if investors are betting that the consolidation will continue.

    Today, sixteen stocks hit new highs in the semiconductor space. (This is a lot.) Here are some of the more technically compelling names on that list:

    Breaking out to new highs: Atmel (ATML, $9.6), Infineon (IFNNY, $12.56), MA Com (MTSI, $23), and Synaptics (SYNA, $90.3). (Actually, Synaptics broke out last week.)

    Stocks in strong up-trends: Amkor (AMKR, $12.2), Spansion (CODE, $22), and Monolithic Power (MPWR, $42.4). All of the their charts appear to be over-extended and if you're looking to build a position in one of them, I'd wait for a pull-back.

    My technical favorites: Rambus (RMBS, $14.6) and Sunpower (SPWR, $40.2). Sunpower has been trading sideways since October before finally breaking overhead resistance at $35 a couple of days ago. It did so on strong volume--a very bullish sign. In mid-March, Rambus broke out of an eight month base before moving on to consolidate at a higher level where it spent a month and a half digesting its gains. Last week, it popped out of this consolidation pattern and continues to notch new highs.

    Stocks: SMH, SOXX, ATML, IFNNY, SYNA, MTSI, AMKR, CY, MPWR, RMBS, SPWR
Back To Dr. Kris' Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

  • Metals losing their au-ra: Support breaches in Copper $JJC, Au/Ag index $XAU, Gold miners $GDX $RING, & Miners $XME.
    1 day ago
  • Tupperware $TUP burping up 2.6% to a new yearly high on strong volume. P/E a reasonable 17.7% w/nice yield of 4.1%.
    2 days ago
  • A Boomer play? Shares of comfy recliner maker $LZB breaking out of 1 mo. consolidation on heavy volume to retest previous all time high.
    2 days ago
More »

Latest Comments


Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.