Just a hunch but especially since the tariff's from this week didn't go into effect and now China is pushing back again - speculation could begin that Trump bring those tariffs back into the conversation if China doesn't move on their promises... Plus inventory should be ridiculously high for most of the semis.
SMH
SMH
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Looking for SMH to bounce off of either the $120 or $115-$117 area. Just a hypothesis. I'm short TSM.