Semiconductors Hang On By A String: KLAC, AMAT, NVLS, SMH, LRCX

This morning, the semiconductor stocks are weak once again. The popular and highly followed Semiconductor Holders Trust (NYSE:SMH) is trading lower by 0.37 cents to $32.11 a share. Many traders and investors are watching the $32.00 level very closely as this level has held as support for the past five months. Should the SMH close below the $32.00 level on the daily chart it could be a very negative sign that the semiconductor index is going to trade sharply lower.

Many leading semiconductor stocks are trading lower this morning. Semiconductor equipment manufactures such as Novellus Systems Inc. (NASDAQ:NVLS), KLA-Tencor Corp. (NASDAQ:KLAC), Lam Research Corp. (NASDAQ:LRCX), and Applied Materials Inc. (NASDAQ:AMAT) are all trading lower at the start of the day. These stocks have lead the declines in the sector lately and should be followed closely. It is very important to see these stocks trade off the morning lows or the semiconductor sector could break lower. Right now the entire chip sector is hanging on by a string.

About Nicholas Santiago 576 Articles

Affiliation: InTheMoneyStocks.com

Nicholas Santiago started trading in 1991. In 1997, he became a licensed Series 7 and 63 registered representative. He managed money for a large, affluent private client group. After applying his knowledge to his client base, he decided it was time to begin teaching those interested in learning his methods. He is an expert in Technical Analysis. He has become an accomplished technician in the studies of Elliot Wave, Gann Theory, Dow Theory and Cycle Theory. In 2007, he partnered with Gareth Soloway to form InTheMoneyStocks.Com and realize his dream of educating others about the truth of the markets.

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