Maxim is leading the semi's higher. I also noticed on my watchlist that nsm is gaining six percent. Thats what happens when price get so constricted. Nevertheless, semi's havent really gone anywhere. Its almost impossible to short anything because wall street will defend it and global markets are strong. The strong price action the last couple of days make me real worried that we are going to have another leg down or crash sometime in the next month or so. The banks are getting bid up on subprime is overblown. The markets move so much faster than the real world, thats why the builders and banks are still ok. Are housing or consumer credit getting better? No, but its easy to gone stuff higher. Its kind of like day trade the economy mentality.
Also of note is the small caps and mids seem to be lagging the big caps and em is weak and seems to be stalling.
The yen has probably bottomed. I just dont see how it can continue to fall.
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