This tech stock is on the cusp of a 20-year breakout, says toddgordontrade. (via tradingnation)
, which tracks the Nasdaq 100 and includes a wider range of stocks, as evidence that investors should be picky when choosing vehicles to track the tech trade. The XLK is "way through the high," says Gordon, while the QQQ is "weakening." The XLK has gained 26% in the last six months, compared to the QQQ's 18% rise., which he says is on the cusp of a breakout 20 years in the making.
He also notes that AMD is an outperformer even within the high-flying semi space, noting that it's "eatinglunch " after gaining almost 80% this year compared to Intel's 1% rise. By comparison, the XLK has gained 28% this year. Steve Chiavarone of Federated Investors echoed Gordon's bull case for semis, adding that software stocks are also an attractive sub-sector within technology.
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