Submitted by Mark Hanna
Courtesy of MarketMontage. View original post here.
The market strength continues to be quite a change in character – there are really no dips to be bought and no selloffs. The S&P 500 has not even fallen to its 10 day moving average on a closing basis once since the breakout on Dec 19th. It’s a non stop buying affair. Overbought means nothing at this point.
Looking at specific sectors, semiconductors are usually a good leading indicator, both up and down. Bulls have to be heartened by the action here – companies such as Texas Instruments (TXN) are just flying today up 7%.
The main ETF for the group – Market Vectors Semiconductor (SMH) is up some 3%.
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As of January 17, 2012 |TOTAL CONSTITUENTS: 26
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Holding
|
Shares
|
Market Value (USD)
|
% of net assets
|
| Intel Corp INTC US | 2,592,554 | 64,943,478 |
19.43%
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| Taiwan Semiconductor-Sp Adr TSM US | 3,208,623 | 43,188,066 |
12.92%
|
| Texas Instruments Inc TXN US | 785,979 | 24,428,227 |
7.31%
|
| Broadcom Corp-Cl A BRCM US | 539,615 | 17,386,395 |
5.20%
|
| Asml Holding Nv ASML US | 395,849 | 16,859,209 |
5.04%
|
| Applied Materials Inc. AMAT | 1,330,460 | 15,672,819 |
4.69%
|
| ALTERA CORPORATIO ALTR | 393,185 | 14,571,436 |
4.36%
|
| Arm Holdings Plc ARMH US | 518,309 | 13,750,738 |
4.11%
|
| Analog Devices Inc. ADI | 356,115 | 13,190,500 |
3.95%
|
| Xilinx Inc XLNX US | 321,780 | 10,731,363 |
3.21%
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A quick video on the group from Cramer
Disclosure Notice
Any securities mentioned on this page are not held by the author in his personal portfolio. Securities mentioned may or may not be held by the author in the mutual fund he manages, the Paladin Long Short Fund (PALFX). For a list of the aforementioned fund’s holdings at the end of the prior quarter, visit the Paladin Funds website at http://www.paladinfunds.com/holdings/blog
