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This morning, the Semiconductor Industry Association (SIA) announced that worldwide sales of semiconductors increased 4.9% to $21.6 billion in August. Month-on-month, sales increased 4.5%, according to the SIA. Sales of NAND flash memory devices led the growth as supplies tightened and prices firmed.
While the Semiconductors HOLDRS Trust is resting above support at its 10-week and 20-week moving averages, the exchange-traded fund (ETF) has been grinding sideways since late April. The security has moved above resistance in the 38 area, but still faces staunch resistance at the 40 level.
Options players are relatively complacent about the ETF. Schaeffer's put/call open interest ratio for SMH rests at 0.94, which is lower than 54% of those taken during the past 52 weeks.
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