Did the world end?
I’m pretty sure the world ended last weekend.
No?
Silicon Valley Bank depositors were guaranteed their money? Regional banks were all going under and then recovered (as of this writing)?
And the market did a great March 2020 impression and reversed so fast the world’s head spun?
Crazy.
Fortunes seem to be dramatically changing every hour on the hour as the market is whipsawing violently.
And while it’s doing that, quietly, chip-makers are doing quite well.
During the Bear Market, the semiconductor sector got hammered.
Pandemic demand dipped and chip stocks tanked.
But look at the right side of that chart of the Van Eck Semiconductor ETF (SMH). Since last fall, it’s been rising substantially.
It is fully in bullish territory.
Which means chip stocks are doing the same.
Advanced Micro Devices (AMD) is a volatile big name that traders love to trade. They ride it when it’s hot and drop it when it’s cold.
And it’s warming up now.
A break above $88.95 could lead to a big move.
Chip stocks like AMD were dead and buried.
But now it’s alive and surging. We’ll keep an eye on it.
Happy trading,
Scott
