On Friday, 15-June-2018, the Options Action Panel took another look at the semiconductor stocks. In reviewing the charts, the team's Technical Wizard Carter Braxton Worth examined the semiconductor stocks from a very long-term perspective. His reading of the tea leaves suggested there is a reasonable chance the semiconductor stocks are peaking out at current levels. As a result, it may be a good time to sell the semiconductor stocks. The last time the panel discussed the semis was on 21-May-2017. At that time, the panel was also bearish. We took a look at the short-term trading action at that time and decided that while one could make a compelling bearish case on a fundamental case, we did not think the technical case was compelling enough to commit capital by taking a bearish position in SMH the semiconductor ETF. So we recommended traders stand aside. It's a good thing we did as the semiconductor stocks have rallied by about 5% over the last month. Now that SMH is trading at higher levels, has our opinion changed?
