This Is One Way To Use Bad News In Your Trading
Advanced Micro Devices
(AMD) shook the semiconductor sector. The company issued downside
guidance for the fourth quarter before the open. Needless to say, both AMD and
Semiconductor HOLDRs (SMH) gapped down.
10:06:15 (From TradersWire)
|
Action |
Symbol |
Order Type |
Setup |
Stop |
Current Price |
|
Buy |
SMH |
Buy at the market |
opening reversal |
30.85 |
31.06 |
SMH found a support near 30.80 and
began to form a trading range at the day’s low. I decided to buy the issue if it
could take out the upper boundary. We managed to make a small profit, but the
market in general was not cooperating. Notice, SMH hit the upper band and
immediately reversed.
Have a productive afternoon session.
If you have questions, feel free to mail them to me.