Brian Shannon on $SOXX (Nov 6, 2026)

Now, semiconductors, that's one. I was saying, if you've been following me for the last two or three weeks and especially last week when we were facing the downward 20 and 50- day moving averages , I looked at that and said, what I really want to see is a failure here.

It will touch this low, as well as the 200-day moving average and the anchor from the beginning of the year , drop below 500, and then start to turn around.

So when the market did that on Wednesday, I bought at 500 and a bit more and then it went up quickly. Since it was moving up quickly, I decided, well, this is a day trade. So I was keeping an eye on that.

That is, I originally bought it at the same place. When it rose to the daily volume weighted average price, I sold a quarter of the position and then when it fell back below the anchor from that low , I sold three-quarters of the position.

So it was a good trade. To be honest, I made pretty good money because I thought it might be time to turn around, so I made big investments. Instead, I came out of here with a profit.

So the whole thing was profitable and I did n't have to wake up on Thursday morning to see this disaster.

Let's clarify the matter a bit. This is the daily VWAP. This is a two-day VWAP. We are trying to be stable. I can't say anything better about the market , but since it's below the 5-day downward moving average, I'm not at all sure that this will be the lowest level.

When we look back at this downward anchor or look at other anchors , it becomes clear that there is potential for further declines.

Honestly, I'm hoping for a real panic in the market, not a 'V' shaped bottom like we usually see , but a break of Monday's low, some more selling on Tuesday morning, and then we see signs of a turnaround.