I've got a sad little OOM put for this domestic semi. The 1hr trend was broken and seemed to form a bear flag. We shall see.
Goodluck. And never trade on my or anyone else's opinion.
Your trades = your gains/losses.
Just a hunch but especially since the tariff's from this week didn't go into effect and now China is pushing back again - speculation could begin that Trump bring those tariffs back into the conversation if China doesn't move on their promises... Plus inventory should be ridiculously high for most of the semis.
Liquidation of utilities has begun. Makes sense as we're nearing the end of the year and they are up huge. Also make sense because they are a source of funds to buy laggards that could benefit from a tariff pause.
Blackstone was upgraded this morning by WellsFargo to $60 price target with Outperform rating. This will probably get a nice bid today but I'd be cautious holding past this week IMO.
Blackstone had huge insider selling on the 25th and is in a newly defined downtrend, plus it is overvalued.
Blackstone Holdings III L.P. 10% Owner Sep 20 Sale 32.75 $9,129,966 299,006,387 0 Sep 23 06:34 PM
Solotar Joan SMD, Head of Global PWS Sep 13 Sale 53.83 25,000 $1,345,750 235,803 Sep 13 06:57...
Nothing to be excited about with this rally. Same old empty promises by the administration, buy puts on the way up today and wait for the reversal tomorrow/end of week in my opinion.
Disclaimer: I take no responsibility for your losses. Trade at your own risk.