When you talk about the semiconductors showing leadership, is there some site or place where a person can go to see the group of stocks that comprise the semiconductor group? In other words, if we are trying to hitch our wagon on the semiconductor move up, where should we focus to locate the individual stocks within this group? (December 2, 2003)
The SOX is made up of 16 semiconductor stocks representing all facets of the semiconductor sector (e.g., chip equipment, memory chips). Current stocks included in the index are a 'whose who' of the semiconductor world:
Even though it is an index, it is a narrow index made up of the largest semiconductor stocks. Thus it is more of a large cap index though many in the chip sector, large and small, move together. We love playing the SOX because when chips start a move it is eady for them to rattle off 40 points or more over a few sessions. They are volatile, however, and you have to be ready to cut and run fast if they start to move against you. Right now we would prefer to see the index test back to the 10 or 18 day MVA and then start a new run. That would take out the fluff from the run the past week and give it some room to maneuver higher.
There is a wealth of information on the PHLX site: www.phlx.com/products/sox.phpl#contract.
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