Karpel’s Corner: Chips, $SOXX, and Life Insurance

Welcome to Karpel’s Corner. This is where I throw out my thoughts on the markets and share some of my favorite strategies. I keep it market-focused, and  never miss an opportunity to teach trading strategies and commentate on the latest trends affecting the financial markets. Hope you enjoy today’s post!

Chips, $SOXX, and Life Insurance

We have Chips on the move!  Looking at the $SMH and $SOXX, which is the Philly Semiconductor Index, we are at levels we have not seen in over 15 years.  And volume is rising, which is good for the bulls.

SanDisk ($SNDK) and Broadcom ($BRCD) are our highest-rated chip companies, both with 10 & 9 long-term rating and short-term, high probability rating for the short-term trend.

Back on May 19th, we had a daily pick out on $BRCD for a bull call spread.  When you get to new levels, it is always prudent to look at your trade and review your sentiment to see if it is time to take profits — especially if they get into the 50 percent to75 percent levels or higher.

Life insurance ETFs ($IAK), are coming up on the radar. No stocks bubble up for that at the moment, but this sector is one we’re watching.

See you next time at Karpel’s Corner!