Option Investor
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The semiconductor sector is down -2.4% and at its low for the day. It's been a drag on the tech index since it bolted out of the gate from this morning's open. SPX has been helped by the big bounce in banks but without the semis and techs on board I continue to like the setup today for shorting the bounce. We could see a final push higher into the close but that's not a given. A short this afternoon should use today's high for a stop since the better setup in that case would likely be a high tomorrow morning.

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