With the tech-heavy Nasdaq up 11.42% over the past three months, technology stocks keep popping up as leading momentum plays in the Momentum Trader Alert system.
This week’s Momentum Trader Alert recommendation, Lam Research Corporation (LRCX), designs, manufactures, markets and services semiconductor processing equipment used in the fabrication of integrated circuits. Lam also is a leading supplier of front-end wafer processing equipment to the worldwide semiconductor industry.
Lam Research Corporation (LRCX) vs. the S&P 500 over six months.
Momentum Trader Alert Analysis
Buy Lam Research Corporation (LRCX) at market today, and place your stop at $116.00.
I am holding off on recommending options on this position for now.
Compared to the major U.S. stock market averages which essentially closed flat, your Momentum Trader Alert portfolio had a strong week. Two positions rallied over 5%. Overall, nine of 12 positions closed in the plus column.