The chips heat up for INTC
This is yet another week where stocks just sit and wait for
the Fed to say something about rates.
The only real anticipation is whether we have a Brexit like surprise or
not. A little CPI is going to nudge the
Fed one way for sure. The tit for tat
fine on DB is roughly the same as the tax bill for AAPL. Trade wars could take on a new meaning. In short the powers that be did not add value
to the broad market this week and the very wild volatility early in the week is
dissipating into Sep 21st. A
quick glance at my AlphaVision® landscape had sentiment telling a better story.
Tech is smoking hot.
While financials and oil (XOM is the big sad red building) hang out in
the bargain bin, chip stocks are back.
Note that INTC (largest green building) is leading the news sentiment
charge even over AAPL which in itself is noteworthy after the 10% run in AAPL
the last week. While there are growth
rumors around INTC, maybe in an IPhone, the big semi appears to be selling more
stuff. The trend is looking very favorable. A short put rolling routine in INTC yields
about .66% per week at the 37 strike which is a bit above normal. That would get you in before the good news.
Disclosure: Long INTC
Read more from Andrew at Option Pit
Posts
No comments:
Post a Comment