![]() ![]() I would much rather short the rallies than try to buy the dips at this point," he said. "I think it's dead money for the time being. ![]() The SMH closed at around $86 on Friday, so hitting $100 would be a gain of more than 16 percent.Īpplied Materials, Lam Research, Qorvo and AMD were among the SMH's top performers last week, with each name gaining more than 5 percent.īoris Schlossberg, managing director of FX strategy at BK Asset Management, also believes the chip stocks are range-bound for the near future, which is why he's staying away. ![]() We're going to have to trade them in 2019, but I think this is a good way to trade it at this point," he added. Probably $80 on the lower end, $100 on the upper end.
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