insanelycool1
Long

"Squeezed" Is how I like them apples!

NASDAQ:AMD   Advanced Micro Devices Inc
This week short covering should be a bit muted compared to next week. A lot of open positions will be closing next week and all sub $30, vast majority sub $26. Should make for a nice squeeze with the amount of volume!

Entry point= $30( or therabouts)

Exit Target by 9/20=$41
Exit Target by 9/21=$37

Options might be a good play here if you know how to play them.
Trade active: Looking strong for such a down day across the market. Watch for a weds afternoon update. We should be moving north again by then.
Comment: It looks like the market movers are heading for a reversal next week unless this consolidation ends. I expect some tell early Friday. I'm operating on the assumption that most shorts have covered early this week as the upgrades and slight drop have likely inspired some positions to be closed.
It's still possible that all these recent upgrades could catch up and news of weak NVDA follow up card is also a win for AMD. Trade is the elephant that shouldn't be a concern but people worry and 90 percent of the game is sentiment, 5 percent patterns, and 5 percent luck.
Don't Panic!
Why do you predict short covering within your stated time frame? i have no position here, just curious about the concept of short squeezes. There isn't a "due date" for covering your short.
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insanelycool1 Makemoney0
@Makemoney0,
There isn't a due date for covering per se. But there is a due date on the option where it will be forced if not closed. There are a lot of short options that must close by the end of next week. We will see how much bounce we get from it. I was hoping we'd hold higher today, but there is a push to drive down before those shorts are due next week.
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