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New Recovery Upleg Signalled for Semi-Conductor Holder Stocks ETF

Stock-Markets / Tech Stocks Mar 24, 2008 - 01:42 PM GMT

By: Mike_Paulenoff

Breakout above 30.00 for the Semiconductor HLDRs (AMEX: SMH) is a very constructive sign and should signal the emergence of a new recovery upleg off of the January low at 26.54 that projects to the 31.50-32.00 target zone next. Components ADI, INTC, AMAT, NSM, among others, exhibit very positive chart patterns that should help propel the SMH higher in the days ahead.

By Mike Paulenoff

Mike Paulenoff is author of the MPTrader.com (www.mptrader.com) , a real-time diary of Mike Paulenoff's trading ideas and technical chart analysis of Exchange Traded Funds (ETFs) that track equity indices, metals, energy commodities, currencies, Treasuries, and other markets. It is for traders with a 3-30 day time horizon, who use the service for guidance on both specific trades as well as general market direction

© 2002-2008 MPTrader.com, an AdviceTrade publication. All rights reserved. Any publication, distribution, retransmission or reproduction of information or data contained on this Web site without written consent from MPTrader is prohibited. See our disclaimer.

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