$Direxion Daily Semiconductors Bull 3x Shares(SOXL)$ Look at the volume from late last night. It's unusual to see that level of activity at such an hour. Chip stocks have a lot of long-term growth potential ahead. So who would be trying to push them down? It seems like some market participants might be.
Basically, nearly every major analyst has a long-term bullish outlook on the sector, with several stocks appearing undervalued. So who would want to short that? This isn't about risky subprime mortgages. It looks more like some institutional players who might have gotten too aggressive with their hedges and are now in a tough spot on their put positions. They could be trying to salvage those positions before the broader uptrend in chips resumes.
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- PLim·07-07 22:46qLikeReport