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Semiconductor index records key weekly reversal, Puru Saxena notes
Puru Saxena, investment commentator and ex-fund manager at FinTwit, reported that the Semiconductor Index experienced a key weekly reversal and remains very over-extended relative to the 40-week moving average.
He also stated that all remaining exposure to semiconductor stocks was locked in or hedged before the recent decline, and expects the sector to face a rough period in the coming weeks.
Saxena previously anticipated a possible pullback in semiconductor stocks, citing ongoing sector strength at the time in an earlier market note. He has also emphasized that maintaining discipline during investment drawdowns is essential for long-term growth, according to a past commentary. The latest commentary expands on Saxena’s earlier positions as he adjusts exposure amid recent sector volatility.
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