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A place for friends to gather and view stock market charts, discuss technical analysis and market outlook. What is your Principal Asset? How can it be developed? Each and all should do their own due dilligence and homework before investing. And by no means should you use anything I say or show here as a sole basis to buy or sell securities as everything is for educational experience only.

Saturday, August 30, 2008

SPY descending wedge and a semi comparison

The SPY is hitting some technically indecisive levels. The bearish descending wedge was broken this week and retested Friday. Is it coincidence that the level is below the mid-point of this short-term range and corresponds to a previous lower low?

Semi-conductors are looking interesting. Here is a comparison of the big hitters INTC, AMD, NEC, AKAM with the overall group SMH thrown in for good measure. AMD may be oversold in this group and ripe for some longer calls. There is definitely a distinct difference between AKAM & AMD over the last 3-5 years. But there is no doubt that these two will out perform INTC.



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