Merrill's technical analysis team yesterday opined that the semis completed a base yesterday, or confirmed one.
If you want to trade something in techland in an economic funk, you might want to look here.
Tech is early cycle, and semis have always been cyclical. That's a negative not a positive but the silver lining is that the semis know how to bottom - the companies and the stocks.
Back at the ranch, Morgan Stanley is recommending taking profits in the group.
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Ed Liddy, the volunteer, out-of-retirement, pro bono CEO of AIG got treated very unfairly by some on the hill yesterday. Shame on those populist jokers.
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