Maybe we are getting our long-awaited Nasdaq correction. Or maybe we are just seeing one more quick rotation where you wait two days and then the semiconductors are back to their status as leaders.
This whole first half has been one of frustration for those who wanted to get into the market and profit from its 15% gains, a large one, for the first half.
But it was only frustrating for those who invested in the indices. There were ample opportunities in individual stocks.
Consider the curious case of Advanced Micro Devices (AMD) . Here's a leader with a best-in-class suite of products that saw its stock drop from $97 to $73 mostly because Intel (INTC) chose a new CEO, Pat Gelsinger, who had worked there for years and then spent a dozen years at other firms including VMware (VMW) , which he ran and ran very well. As good as Pat is, and he is very good, it should have been obvious that there are huge holes in Intel's product line and you can't go around bragging that Intel's back without the goods to back it up.
They don't.
So AMD fires right back.
This market is riddled with stocks that got hit in the quarter: Costco (COST) , Marvell (MRVL) , Norton (NLOK) , heaven knows we've had a lot of them.
That's why I say don't be frustrated just be diligent and stay with us as we plow through document after document looking for them.
(AMD, COST, MRVL, NLOK are holdings in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells these stocks? Learn more now.)
