$SMH swept Monday's lows. 580 is the floor if it doesn't hold.: $SMH just swept Monday's lows, which is one of the technical checkboxes for a durable bottom in semis. Watch to see if it holds and starts to build from here. If it doesn't, 580 is the next real support.
Aggregated and distilled by Two Sentence Traders. Not financial advice.
28% cash deploying into semis on the dip. $AMKR, $ADEA, $VPG, $PENG, $VIAV.: With the tape broadly on sell, the call is to put 28% cash to work across semis: 10% each into $AMKR, $ADEA, $VPG, $PENG, and $VIAV. Buying into the noise, not out of it.
$SMH 580: 9w and 50d EMAs backing the level: $SMH 580 isn't just a retest level. The 9w and 50d EMAs are both sitting there, which is meaningful confluence. Decent R/R to DCA into semis if we're underweight. The selling today looks indiscriminate, so watch the weekly EMAs hold into the close before adding size.
No 10x without the 40-50% drawdown. That's the deal.: There's no clean path to multi-bagger returns — every stock that went 10x also had a stretch that looked like it was over. If this week's tape is testing your conviction, that's not a signal to exit. Size right, hold the line, keep chipping away.