Impressive performance by the SOX helped the NAZ post solid gains as it sprinted to new 6 1/2 year highs in the afternoon. Underpinning this group was an encouraging outlook from NVLS (+11.2%) prior to the open and midday commentary from KLAC (+8.9%) at the SEMICON West conference. Also, much anticipation of an earnings beat by INTC. The latter did not deliver and I expect some profit taking tomorrow in this sector. If you were not in this sector today, you might have found the day a little disappointing and somewhat choppy.Economic Calendar: Pre-market CPI and Housing; Crude Inv. at 10:30
2 comments:
NR BO candidates: AA, SGR, AMZN
Market feels like tomorrow will be a profit taking day. AMZN will test $73.00 PP and could fall down. SGR too extended and too strong so I won't play this one. AA will test $46.00 PP. Hopefully lots of opportunity.
But will watch CPI data for better indication pre-market. Look at QQQQ AH - very negative after INTC earnings.
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