Josh Brown, CEO, Ritholtz Wealth ManagementVanEck Vectors Semiconductor ETFSMHCOMMENTSep 02, 2022

There's been institutional buying of the semis stocks. Analysis says that semis have been in a long-term uptrend after capitulating in early 2020, though there was middling turbulence along the way, like the pandemic boosting PC sales, then those sales falling post-Covid, pulling back 50% from highs. Ugly. But after the late-2022 bottoms in semis (and the market), semis have been rising in a nice run. Rising interest rates were killing anything tech for a while last year. The summer 2023 pullback was shallower with lower volumes than the summer 2022 pullback, says data; support held last summer. That led to a strong rebound last fall. Analysis says semis can add another 25%, but not in a straight line. Wait for a temporary pullback before pulling the trigger.

It was a good play on the semis sector, but now it's volatile. He prefers holding individual names, like Broadcom, AMD and Nvidia.

Likes Nividia, AMD and LAM Research, but not the SMH ETF, because there's such a dispersion with this sector.