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Semiconductors Are Leading the Market

NEW YORK (TheStreet) -- The PHLX Semiconductor Index (^SOX) set a multiyear intraday high at 590.11 on Friday. At Monday's close ($579.85) the index is the year-to-date leader among the indices I follow, up 8.4%.

In addition to the SOX, I have been tracking the 24 semiconductor stocks in the Market Vectors Semiconductor ETF (SMH). Today I re-crunch the numbers for all 24 components compared to the numbers we crunched a month ago in RF Micro Merger-TriQuint Puts Focus on Semiconductor Sector Leadership.

Whether you are bullish or bearish on semiconductor stocks you can use the numbers we crunched in today's table. If you are building long positions, consider adding to longs using GTC (good until cancelled) limit orders to buy weakness to the value levels shown in the table. If you are reducing positions to book profits consider doing so using GTC limit orders to sell strength to risky levels shown in the table.

Analog Devices (ADI) ($53.61 vs. $50.96 on Feb. 24, up 5.2%) still has a positive weekly chart with its five-week modified moving average at $51.41. Based upon our Feb. 25 profile, investors could have bought this stock at $50.24 on March 3 and reduced positions at $52.50 on March 20. Monday's close was on this week's risky level at $53.61 with semiannual, monthly and quarterly levels at $52.50, $52.96 and $53.05.

Altera (ALTR) ($35.76 vs. $35.91 on Feb. 24, down 0.4%) still has a positive but overbought weekly chart with its five-week MMA at $35.23. Quarterly and annual value levels are $32.38 and $31.84 with a monthly pivot at $36.41 and semiannual and weekly risky levels at $37.84 and $38.64.

Applied Materials (AMAT)($20.10 vs. $19.07 on Feb. 24, up 5.4%) now has a positive but overbought weekly chart with its five-week MMA at $19.06. Monthly and quarterly value levels are $19.84 and $17.69 with a weekly risky level at $20.55.

Advanced Micro Devices (AMD) ($4.05 vs. $3.71 on Feb. 24, up 9.2%) now has a positive but overbought with its five-week MMA at $3.86. A monthly value level is $3.15 with a weekly pivot at $4.06 and quarterly risky level at $8.05.

ARM Holdings (ARMH) ($48.48 vs. $49.14 on Feb. 24, down 1.3%) no longer has a positive weekly chart given a close this week below its five-week MMA at $48.52. A weekly value level is $47.87 with semiannual and quarterly risky levels at $49.67 and $51.01.

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