Deals of the Week: January 15 to January 19, 2024

January 19, 2024

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January 19, 2024

My first week on vacation in Australia was great for my trading account. Maybe I should go on vacation. Well…

I took AMD & TEAM with me on the weekend.

AMD It rose 8.3% on Tuesday and continues to climb this week. I was supposed to be sleeping when it gapped Thursday morning, but I was still dealing with jet lag, and I happened to wake up and see the move. The reasons why I decided to close my position are as follows:

It does extend above the upper Bollinger Bands and overbought stochastics
The reason for this move is not directly related to AMD, but it is rising due to good profits from TSM
AMD is about to release its earnings report.

So I thought now would be a good time to release it. Here is the chart I posted last week:

AMD_2024-01-13_14-49-52.png 149.21 KB

Here is the updated chart:

The entire transaction, with an average two-part sale, nets 4.46R (or 5.26%). I made $11 per share on the first sale and $30 per share on the second sale (21.7%). I made several other trades during the week, but only one of them was triggered, namely:

SMCI

This trade can be classified as Better luck than good luck! I saw SMCI on Non-ADX 1,2,3,4 callback scan on the evening of the 17th. I put My standard buy stop limit order Then went to bed. SMCI gapped past my limit, but then pulled back and I got filled. This is the first part of luck – it keeps going down and Less than a dollar away from my stop loss Before the rebound:

The lucky second part is that SMCI pre-reports earnings after the close. When I woke up and checked my account, I saw the news and there was a huge increase in after-hours trading volume. So it gapped higher on Friday morning and continues to rise – up 37% as I write this! Once again, I happened to wake up in the middle of the night (Australian time) and saw a huge buff (~5R) and Sell half of your shares immediately.

So I bought SMCI at 322.27, sold half of it at 413.08, a 91-point gain, but I still held the other half. It rose 5.75R (approximately 5.4%) in two days. Whenever I sell the other half of the stock, we'll see what that becomes.

also, I would like to point out that both AMD and SMCI are very expensive stocks. Those who think high-priced stocks are doing poorly should take note!

So AMD and SMCI (and TEAM which I still hold) gave me The 8.55% gain this week brings my year-to-date return to 14.5%.