Just looking for a quick .25-.38 retracement. Maybe will hit the previous breakout point (yellow line)
Up 10% in the past 5 days
Komen
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Still maintaining short.
Komen
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Assuming that this daily closes as a bearish engulfing I think the reversal will happen. The market is rallying so I would be worried about seeing a bullish harame gap up.
Yes my entry point was sub optimal.
Komen
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AMD got downgraded by morningstar. Should be a gap down at open tomorrow, monday.
Komen
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Someone tried to sell me the fundamental need for why AMD needs to go above 20. The idea of a random person being so confident that they try to sell somebody else a stock at all highs is indicative of a bubble. It's the archetypal shoe shine boy story. My friends did this with bitcoin. Therefore, I bought 1000$ if puts today at 16.65 and i will literally let it run to zero if that happens based off of principle.
AMD is in all time highs so oversold conditions will run higher than normal. I'm running bullish on it. Old resistance is new support. To add, AMD is very undervalued compared to NVDA. AMD's product lines have improved and competitive to NVDA.
duke2duke
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Have your thesis changed after seeing how AMD traded Monday and Tuesday? If so, would you still short or go long? I am a bit torn about this stock at this price. All indication was to short, but it's actions has been very bullish. Every dip was recovered 100%.
dharris
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I have July 20th 15PUTs and been steading adding PUTs since high $13' pps, getting rough. Sold June 22nd 13.5PUTs a few days ago to mitigate some loses. Looking for any sensible talk, instead of goofy Yahoo finance board.
Cuddles1997-1999
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@dharris, difficult to say if the day closes as a bearish engulfing candle i wouldn't feel any anxiety over holding a put for a while longer... then again i wouldn't trade based on a daily candle when it's only like 10am
Cuddles1997-1999
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@dharris, If you're interested, I've been reading the price target for AMD q3 is $16 and q4 is $17. the industry is set to rise for the year, but slowly fwiw.
duke2duke
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What does it mean when its low volume coming into triple top.. Potential lack of conviction should there be a breakout or has a higher chance of a sell off?
Cuddles1997-1999
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@duke2duke, low volume can indicate a short squeeze. low volume tops generally indicate that buyers are drying up and sellers have not stepped in yet... thus the potential for reversal.
Mmclass
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You are short from what price? Ty.
Cuddles1997-1999
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@mehrdadmoradi, i was short from 14.79 unfortunately.