It’s nice to see a trade work out. It’s nicer to know that paying subscribers were the ones who got it. And it’s nicest still when it works out almost immediately.
Just yesterday, I did this premium post in which I pointed out the nearly perfect gap-seal for AMD. I went on to say, “I am long January $175 puts. It also helps that the P/E ratio on this sucker is literally measured in the hundreds. This is preposterously overvalued.” Even though semiconductors were fairly strong all day, AMD was a notable exception.
Here is a daily chart, providing a clean view as to the price gap and its nearly perfect seal yesterday. Major support will not be found until that blue trendline.
