SMH

SMH, along with a lot of other vehicles in the market, is in a long term downtrend so I will be watching the daily and weekly for signs of a top during this long entry.

 

US hit 'turning point' with China: Intel CEO

https://www.foxbusiness.com/technology/us-hits-turning-point-china-competition-intel-ceo
"The CHIPS and Science Act was a clear statement that we are going to win back the semiconductor industry, we are going to be manufacturing it," Gelsinger said on "Mornings with Maria" Tuesday.

 

Well, from fox.

Anyway, China is never a competition at the higher end. Intel is losing business to TSMC and all the in-house designed shop like Apple and Google.

 

TSMC is 11 percent of SMH and Intel is 6 percent.

 

Yes but Gelsinger is misdirecting his tune, China has more than 30% of Intel's market.

 

Could be----I'm going to stay long here though.

 

No obvious trend damage done today even though we went lower. Uptrend intact on daily and weekly.

 

Regardless of the pullback mid-week, we recovered nicely and actually had a very bullish weekly bar to show for it. --Staying long--

 

Pretty good entry for smh, congrats! Where would you take profit from a swingtrading perspective? Smh 246/247 (prior swing high)?

 

I'm shooting for 310, but if market tells me before that, I'll get out.