BREAKING: The semiconductor ETF, SMH, posted -$2.3 billion in outflows in the week ending May 7th, the largest weekly outflow since the fund launched in 2011. This follows +$1.5 billion in inflows in the preceding week, the 3rd-largest on record. Previously, in April, semiconductor ETFs, SMH and SOXX, attracted +$4.7 billion in combined inflows, the largest monthly intake on record. Meanwhile, the 3x leveraged long Semiconductor ETF, SOXL, posted -$842 million in outflows in the week ending May 7th, its 5th consecutive weekly withdrawal. Over this period, investors have withdrawn -$8.9 billion in total. Retail investors are cashing-in massive profits on semiconductor stocks.(The Kobeissi Letter)