LRCX Lam Research Corporation

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Semis Bounce, but Signal Further Declines

Yesterday afternoon, many of the semiconductor stocks were trading in positive territory. This is usually considered a positive for the NASDAQ Composite and the major stock indexes. The Semiconductor Holders Trust (SMH) was trading higher by 0.07 cents to $26.25 a share.

The bounce in the SMH is somewhat feeble when you think about it. There looks to be a much better support level around the $25.00 for the SMH.

Some leading semiconductor stocks that were trading higher include Lam Research Corp (LRCX), Skyworks Solutions Inc (SWKS) and Texas Instruments Inc (TXN). All of these leading stocks are showing some strength; however, it really looks to be just a technical bounce from an oversold condition. In other words, the small bounce does not seem to have much institutional sponsorship behind it.

Nicholas Santiago

InTheMoneyStocks.com

 

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LAM RESEARCH (LRCX): Free Stock Analysis Report
 
SKYWORKS SOLUTN (SWKS): Free Stock Analysis Report
 
TEXAS INSTRS (TXN): Free Stock Analysis Report
 
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