So I made some money flipping GM puts this morning, I decided to go and buy MU puts with the profits. WIth DRAM prices down significantly since last earnings, I expect their guidance to suck.
As you guys already know, earnings are a crap shoot. Keeping to a small amount on this. Safer play would be to go with April puts on some other chip stock or SMH (sector ETF).
LONG TERM TRADE. ONLY FOR THE PATIENT.
On Thursday, $AVGO (Broadcom) earnings call called for a bottom in the semi business in Q2. With that being said, $MU is looking like a good setup for a long term swing trade. In December, we see micron bounced at $28 and rallying to $43. Now we are currently sitting on the 9 day avg line (1 week time frame). I have chosen...
Moving sideways in a box without determining which direction to go
Sell volume bars outnumbered buy volume bars during this consolidation/distribution phase
But one thing stands out to me is that the RSI is running downhill
Outlook: Bearish bias
Looking for ways to make money in what I expect to be a choppy market, Here's an idea....
Chip stock daytrade, check the MFI, buy when it's oversold, hold for day or 2. Works with AMD as well, you may need to adjust the MFI setting on other stocks. Default is 14.
DRAM index keeps falling, and I think MU double bottoms. Not really a Motley Fool fan, but this is a good article:
Guidance will suck (like SMTC). That may be what causes the market to dip next week, along with the Fed. Also watch for FedEx earnings (though their issue is mainly...
Micron is just screaming out to the value investor in me, and I've been waiting for their earnings call. Apparently a lot of others have, too, and I suspect that the news is no where near as dire as predicted with a resurging confidence in their future revenue growth potential from recent acquisitions of 3D development processes that they developed in conjunction...
volatility is very rich in mu both on a IV percentile and IV rank. best way to take advantage is by raking it in. via credit spreads. in this play obvious trend support.
im wanting to make an iron condor, but i feel its fairly obvious there will be a bounce based on net skew.
so here are my targets. since the skew is equally weighted but near a major trend...