NEW YORK (
TheStreet) -- In my first post of the day I cover the 26 components of the
PHLX Semiconductor Sector Index
The daily chart of the semiconductor index shows overbought momentum with the index above its 21-day, 50-day and 200-day simple moving averages at 479.50, 476.97 and 444.39. This week's value level is 479.94 with monthly and semiannual risky levels at 516.08 and 533.56.
Chart Courtesy of Thomson/ReutersThe overall market remains under a ValuEngine valuation warning with 77.1% of all stocks overvalued 43.9% by 20% or more. The computer and technology sector is one of ten sectors overvalued by more than 20%. Three of the 10 stocks shown in this table are undervalued with four overvalued by more than 20%. Nine have buy ratings and one has a hold rating. Three are lower in price over the last 12 months with Entropic Communications (ENTR) down 29.1% and Peregrine Semiconductors (PSMI) down 49.9%. Among the seven higher over the last 12 months Semiconductor Manufacturing (SMI) gained 95.6%. Three are trading below their 200-day SMAs therefore the seven that are above their 200-day SMAs have risk of a reversion to the mean.