AMD: Broke Through SupportAMD has fallen below support at 134, so more selling is coming. I got beat up on my AMD calls, but the beauty of options is you can quickly recover when you jump ship on your positions quickly and buy puts to offset your losses. It's important to find supports and resistances, so you can have an exit strategy if a trade does not go your way. It's also important to be ready and able to change your stance on a stock if it begins to show signs of reversing.
I was reading an article on investopedia about the Sahm Rule Recession Indicator which I found interesting and will share the link below. With unemployment rate coming out tomorrow, the market could sell-off quickly if the indicator is triggered.
PT1 is 122 and PT2 is 116
www.investopedia.com