Advanced Micro Devices Inc (AMD)

[JLS]

Already have a CC trade on AMD.

Entered that relatively early yesterday at an average of $30.29. Calls expire tomorrow. If AMD doesn't do well tomorrow and slides back, I could move the Calls out but doubt it pulls back far enough. Being a Friday tomorrow, time value will shrink to virtually nothing so I'll just have to wait and see.

I left AMD for a few days to trade BHC for maybe a couple weeks. First BHC trade worked but didn't make much. Second BHC trade changed direction quickly so dumped it then re-entered AMD yesterday.

I'm of the mood lately that perhaps trades should be limited to perhaps the best 3-days per week (preferably end of the week -- quicker option expiration) until there's a good pullback. Twenty percent down would be fine with me.

To save a lot of words, compare the pattern that started in October of 2018 to the pattern that started in August of this year. Spooky, isn't it. Both are inverted flags. Who knows, maybe December of last year will actually start in September of this year.

The pattern is called an Inverted Flag. If this inverted flag breaks lower, the target is $2,650, which just happens to be the low point in last year's inverted flag before it broke lower.

At any rate, I drew a dashed yellow line for a possible destination for a breakdown, and that would be the center of a new trading range (after the market falls apart).

I wonder what history has to say about September markets, the one we're just about to enter.