$iShares Semiconductor ETF(SOXX)$ $Direxion Daily Semiconductors Bull 3x Shares(SOXL)$ Some of the semi-bear arguments I keep seeing don't hold up well. The EOM window dressing angle seems shaky, and the overnight move was really tied to October positioning. Without MU, SOXX and SMH would be down, which just shows a lack of understanding of semi subsectors. SOXS at $33 would have printed a few days ago, and I'd actually welcome that if it makes the recent SMH and SOXX rally healthier.
When SOXS was in the 70s, I said repeatedly that it would hit an all-time low this year even with another semi correction. For anyone holding a large SOXS position, the better approach has been to exit into strength. Otherwise, the setup looks risky before year-end.
Taiwan's index also just hit another all-time high. Worth reading some Taiwan financial news before deciding to add SOXS.
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