Originally published on averin.com
Trade type: LONG
Status: CLOSED May 28, 2026
| Price | Date | |
|---|---|---|
| Entry | $547.20 | May 23, 2026 (Fri) |
| Exit | $563.98 | May 28, 2026 (Wed) |
| P&L | +$16.78 / +3.06% | 3 trading days |
Why I Entered Long
Semiconductor stocks had underperformed the broader market through mid-May on tariff uncertainty and soft guidance from a mid-cap chip name. The macro narrative had turned negative, but the fundamentals — AI server buildout rates, TSMC capacity utilisation, advanced packaging lead times — hadn't changed. When narrative and fundamentals diverge, I look for entry.
The long weekend timing was deliberate. Institutional desks reduce risk before three-day closures. That creates a shallow, technically-motivated dip in momentum names that reverses fast once volume returns. I entered on Friday May 23, final session before Memorial Day.
Trade Path
US markets closed Monday May 26 (Memorial Day). First opening Tuesday May 27.
| Date | SOXX | Move |
|---|---|---|
| May 23 — Entry | $547.20 | — |
| May 27 — Close | $570.09 | +$22.89 / +4.2% |
| May 28 — Exit | $563.98 | −$6.11 from peak |
May 27 was the strongest session: NVIDIA held above breakout, TSMC ADR gained, ASML bounced support. The entire semiconductor complex moved as a unit — textbook ETF confirmation.
Why I Closed Today
By mid-session May 28 SOXX gave back $6.11, trading −1.07% on the day. A 4% move in four sessions attracts mechanical profit-taking. I read this as position squaring, not thesis failure — but I had already captured the core of the post-holiday move. Holding through a pullback with no clear near-term catalyst to extend beyond $570 doesn't improve risk/reward.
Closed at $563.98. Net gain: +$16.78 per share, +3.06% in three trading days.
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