SMH Entry, Volume, Target, Stop, Resistance

When price clears 131.79
With WEEKLY volume greater than 39.87M or DAILY volume greater than 7.28M
Target: 149.50 area
Depending on your risk tolerance: 125.88 gets you 3/1 Risk/Reward.
Resistance: 142 and 145 area

This trade idea is not trade advice. This idea is strictly based on my ideas and technical analysis. Not due diligence or fundamental analysis was performed while evaluating this trade idea. Do not take this trade based on my idea, do not follow anyone blindly, do your own analysis and due diligence. I am not a professional trader.

Trade active:

Didn't enter yesterday because there wasn't enough volume for me. I took a chance today and entered early because the volume was way above average in the first 30 minutes.

Comment:

I don't like trading the etf when I'm holding chip stocks, but made an exception this time because the chip stocks are doing so well. I will exit quickly if need be.

Comment:

Sold 1/3! This if fun...

Comment:

Sold 1/3, will let final 1/3 run as long as I feel good about it, but a pullback wouldn't surprise me.

Comment:

Pullback on lower volume setting up for next leg higher.

Comment:

Still holding 1/3, but will exit if it goes any lower as the semi's cool off. I'd rather wait for the next entry opportunity than watch my decent winner turn into something less decent.

Trade closed: target reached