THE REV

Revshark on realmoney.com seems excited about the action today in the semis. Not sure I agree as every move higher seems to be sold. The chart above is my take, here is his take:

"I'm much more concerned about how the market deals with the estimate cuts from Advanced Micro (AMD:NYSE). Semiconductors have been badly abused for months now, and if they can hold up in the face of more bad news, that will be an indication that the worst has already been priced in. I'm looking closely at some of my small-cap favorites in the chip sector, such as BTU International (BTUI:Nasdaq) and LTX (LTXX:Nasdaq). If the SOX continues to improve, I will be adding to my positions."