Intel (Nasdaq: INTC) and Linear Technology (Nasdaq: LLTC) delivered better than expected earnings and future outlook news on 4-15.

The long abandoned chip sector may get a bounce in the next few days, especially if more companies deliver good news that began last week when DRAM chip companies announced that they had been able to raise prices.

Intel and Linear Tech. had decent after hours rallies after making their positive announcements.

Now comes the question of whether the cheer can spread throughout the sector, and whether it will actually translate into sustainable gains for the stocks in the sector, which are heavily weighted in the Nasdaq and key sector indexes for technology.

If past behavior is any indication of what could happen, and if this trend gathers momentum, we could see a nice rally in the sector, which is what the stock market needs, a good run from the traditional technology sector.

A whole lot has to happen, though, with one key development being what happens with the Philadelphia Semiconductor Index (SOX). If SOX fails to break out above 380, we could see yet another disappointment.

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He is the author of four books: "Futures And Options For Dummies," "Successful Energy Sector Investing," "Successful Biotech Investing" and co-author of "After-Hours Trading Made Easy."

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