The AMD (Advanced Micro Devices) short swing trade slightly clipped the suggested stop of any move above a stop raid on Tuesday with the stock falling from there down to the 30.15ish support level & so far holding just above it. AMD will still offer an objective/alternative short entry on an impulsive break and/or 60-min close below that level & is under consideration as a new short trade setup with an entry most likely to be triggered on a break below today’s reaction low of 29.98.

click on first chart to expand, then click on right of chart to advance to the next expanded image

In the original post, it was stated that an alternative & higher-probability entry would come on a break below 30.15 but as the official entry was made at the time AMD was posted as an active trade with the more aggressive setup, while the stock was trading at 31.33, that level will be used in calculating the loss on this trade. The net loss was 6.9% with a beta-adjusted loss* of 5.5% (*factoring in the suggested beta-adjusted position size of 0.80, or a 20% reduction from a typical position size due to the above-average volatility of AMD).

I had made several mentions of AMD in trading room & in recent videos following the stop being clipped in which I stated that I still like AMD as a short candidate & believe that the profit potential for a swing short in the coming months is above average.

In hindsight, I should have listed the stop to be triggered on a daily close vs. any intraday move but I will continue to monitor both AMD & the semiconductor sector closely with AMD (and others) under consideration as a new official swing short trade. All associated posts with this trade will now be moved to the Completed Trades archives.