About an hour everything came to halt and some selling kicked in. However, nothing really extreme.
The semi's are of interest for a lot of people because the SMH has stalled at 36 a number of times. I haven't seen any kind of money flows going into semi conductors, although Dr. Brett has noted that intel is getting some love.
What are my thoughts on tech? In a weak dollar environment I think tech is a joke. It still has too much capacity and a weak dollar is going to attract weak dollar plays. oil, gas, gold, silver etc. If small caps, which are more speculative by nature, start falling out of play why would chips suddenly be the place to be? They are even more speculative. Nevertheless, if they rally I will respect the price action.
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