It was a good consolidation day for the bulls to work off the overbought condition. Volume was light and breadth slightly positive. News is hitting after hours that Texas Instruments is buying National Semiconductor. The premium paid was huge and ignited the semiconductor sector after hours, which has been a big laggard lately. This makes you wonder; does companies get more expensive with inflation? The premium was breathtaking for a slow grower. Will the bulls who bought the gap up today use it as a opportunity to unload on turn around Tuesday?
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