iShares Philadelphia Chip Fund (SOXX): In one of the best-looking growth groups
Growth stocks haven’t been real leaders of the post-election market, but I’m seeing signs of that shifting—while most major indexes didn’t make upside progress for six weeks, the growth-oriented Nasdaq eked out new all-time highs a few times.
One of the best-looking growth groups remains chip stocks, and my favorite chip ETF is the iShares Philadelphia Chip Fund (SOXX), which is more diversified than other chip-focused ETFs. SOXX has been in an uptrend for months, hitting a new high in late December (about two weeks after most indexes), resting calmly with the market, and this week, appearing to resume its uptrend. (Many individual chip stocks look to be lifting off, too.)
A nibble here with a stop near 120 seems like a good risk-reward trade.