Semiconductor shares are showing signs of life. This key technology sub-sector could be signalling better things ahead for tech. Nvidia (earnings release last night) and Applied Materials (brokerage firm upgrade) are big winners today in this sector. PSI is a good ETF to own if you like the semis - that's the PowerShares offering, and you could also grab onto the iShares version - IGW. Check the chart above. Technical comments about IGW: the downtrend dating back to last years correction is now over, and we are approaching significant resistance just above 68. We're sort of in no-mans land between 64 and 68. A trader could initiate a partial position, adding more if she breaks out, or closing swiftly if she breaks down. That is called good risk management.
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