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Technology Due For a Correction

|Includes:CRUS, QRVO, ProShares UltraShort Semiconductors ETF (SSG), VECO, WDC

I am looking for market downside. I have admittedly been expecting this for a while and it hasnt happened. It will happen sooner or later and when it does I expect it to be more significant than anything we have seen in a while. As I said yesterday semis look extended to me and a 30% correction wouldn't surprise me. Buying SSG this morning - short semi etf for exposure. Most semis like SNDK in flash are commodities in my opinion and low quality names are reaching multi year highs see CRUS VECO TQNT etc.

Disclosure: long SSG