Investment newsletter Crosscurrents reports sentiment amongst semiconductor insiders is bearish. Assessing six months of data ending May 2nd, Crosscurrents reports among the ten top chipmakers there were 100 sales, totaling 3.75 million shares. This compares to one individual buy of 500 shares in the same time period. The ratio of sales to buys is the worst ever reported by Crosscurrents. The speculation offered is to short the SMH's (Semiconductor HOLDRs), also based on the chip group trading at 5x sales and 22x earnings. We've looked at PSI before as well, and it is trending sideways right now, although periodically testing support at 19. Will she hold?
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