January 19, 2024
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.
Here is the updated chart:
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.
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%.
That’s why I joke that I should go on vacation. I can only hope this pace continues throughout the year. I know it won't, but one can dream…