The Knight household is a data-rich one. It even tracks our sleep. Allow me to share my night with you:
In the words of Fast Times’ Mr. Hand, that is a kind estimate. I should be seeing light tracers at this point. Anyway, allow me to try to do my job for a moment.
The NVDA earnings report created true relief, and I’m having a terrific day. Although my closure of AMD and NVDA puts wasn’t really necessary, I felt the risk structure was proper, and my semi-related bearish positions continue to do well.
Broadcom (AVGO) for instance is very typical of the behavior we are seeing today: a strong open, matching the levels from Monday, but then slipping all day long so far.
On Semiconductor (ON) has a sensational, giant topping pattern, and it continues to hammer down beautifully. Love it!
Super Micro (SMCI) is also shipshape, and I’ve very proud of nailing the top almost perfectly with my entry.
The semiconductor index fund (SMH) is sporting a monster bearish engulfing pattern, so I’ve doubled the size of this position.
I would normally type more, but I’m afraid a 12-week-old has decided that the place where I stand to do my job is a perfect place to sleep.
