Went from long to short and heres why.....

I really like AMD and think its a great comapny, but me thinking its a great company along with the entire 75k stock twits people doesnt amount to jack. its in a bearish channel, and has had consecutive bearish pennants and flags since last earnings. I personally think institutional wants to see 11.80 before we make an new ath. The writing has been on the wall and I just didn't wanna see it with mubdalla. Lock in profits, that was a joke. Makes no sense to reduce position when they had such a low pps. I am a huge proponent for locking in profits, but the timing to me is a tell. I think amd is deflecting the fact that at the institutional level they don't want to see mid to high 11's first. People love this stock, and for good reason, but just because it has a great ceo, solid (not amazing) product lines, and a ton of retail traders and investors as fan boys does not change that much. Don't trade against the trend. Closed my position today on AMD for a net 3% gain after last drop. at the end of the day its one guys perception and opinion nothing more nothing less

Note

Trend has not changed in my opinion

therancher

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therancher