After the close today, Microsoft reported, and their stock plunged. As I’m typing this, about half the plunge has been erased (oh, those magic conference calls!).
![](https://slopeofhope.com/wp-content/uploads/2024/07/msft-1-640x497.png)
The other big report was AMD which, as I stupidly guessed on my show today, was so battered that it just HAD to go up, which is precisely what it’s doing.
![](https://slopeofhope.com/wp-content/uploads/2024/07/amd-640x604.png)
Thus, the quick plunge in the /NQ (red below) is history, and, incredibly, even with a MSFT wipeout, the /NQ is green, as is the /ES and /RTY (as of this writing, obviously).
![](https://slopeofhope.com/wp-content/uploads/2024/07/quickdrop-640x551.png)
Thus, the stock which has been dragging everything down, NVDA, is fighting back. Now I feel less bad about dumping those puts.
![](https://slopeofhope.com/wp-content/uploads/2024/07/nvda-4-640x484.png)
I am pretty happy with things overall, with the notably except of VST, which has produced a “well, THIS is gonna suck” moment for me. It announced some very positive corporate news (nothing to do with earnings) after the close, and the stock is the #1 gainer. Lovely. I’ve got puts. Oh, well. Ya gotta take the good with the bad.
![](https://slopeofhope.com/wp-content/uploads/2024/07/vstbom-640x617.png)
Wednesday promises to be an epic day. I’ve been managing the hurricanes and tornadoes thus far. I hope we all make it through to the other side and get yet another stupid FOMC meeting (the 5th of the year) put to bed without much injury!