Semi HOLDR On A Roll
Semiconductors led
an otherwise muted rally in the tradable tech funds Tuesday,
while blue-chips and financials lost ground, depressing
funds focused on those sectors.
The Semiconductor
HOLDR
(
SMH |
Quote |
Chart |
News |
PowerRating) rose 3.0% on strong volume, the day’s
biggest gain among the size=”2″>
funds. The move followed
chip industry from a Morgan Stanley Dean Witter analyst.
After Tuesday’s close, chipmaker Analog Devices
(
ADI |
Quote |
Chart |
News |
PowerRating)
posted Street-trouncing results. For more on Analog Devices,
which appears to be forming a double-bottom base, check out
my latest
The News column.
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Among the HOLDR’s
components, Micron Technology
(
MU |
Quote |
Chart |
News |
PowerRating) climbed 6 to 86 1/2,
clearing its 50-day moving average on above-normal volume.
Texas Instruments
(
TXN |
Quote |
Chart |
News |
PowerRating) gapped up 3 to 66 1/2 on heavy
trade.
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The Internet HOLDR
(
HHH |
Quote |
Chart |
News |
PowerRating) gained 1.6%, the Dow Jones Technology Index
iShares
(
IYW |
Quote |
Chart |
News |
PowerRating) 0.9%.
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On the downside,
the Cyclicals/Transportation SPDR
(
XLY |
Quote |
Chart |
News |
PowerRating) slid 2.9%, the
day’s sharpest loss among the exchange-traded funds.
Retailers
(
$RLX.X |
Quote |
Chart |
News |
PowerRating) weighed on the fund. Home Depot
(
HD |
Quote |
Chart |
News |
PowerRating),
the second largest holding in the fund, sold off despite
reporting quarterly earnings that met Wall Street
expectations. The decline in Home Depot, a Dow component,
also took a toll on the Diamonds
(
DIA |
Quote |
Chart |
News |
PowerRating), which track the
blue-chip index.
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