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Momo Market Roundup, 11/8/2021 — AMD’s Good News is Ours As Well 

 November 8, 2021

By  spectre_trades

AMD Surges on Meta Announcement

Well that was big and fun. Today the news broke that Meta Platforms (FB) had chosen the EPYC processor by Advanced Micro Devices (AMD) as the processor of choice for its gigantic data centers requirements.

This bombshell announcement triggered a huge rip. While it wasn't on the watchlist, I was able to quickly plan the trade, share my thoughts, and THT members made bank. We bought 145 calls for $3.50 as soon as we got word. Those bad boys spiked right up to $10 like it was nothing—almost a 3x gain, helping turn my 3% gain day into 20% at the end of the two hour session.

We also bought 170 calls for December at $4.50-$5.50, risking 50%. Why? Because we don't think that rip was a fluke. We think it could go to 200 in December, and if it does, those 170 December calls could rip up to $30 or more.

TSLA Gap Gives an Easy Long

Thanks Elon for your tweet.   Tesla (TSLA) gapped down big-time over the weekend, giving us an easy long opportunity. Why? Because it gapped right down to our keep level of 1130, and we expected some gap fill. Despite that gap fill coming to pass, TSLA is looking weak after failing to reclaim 1200. Handle with care. 

Rivian IPO is Tomorrow

We're all patiently waiting for the Rivian IPO tomorrow, along with the rest of the market. Don't be surprised if you see people selling some LCID and TSLA to move money into Rivian. Should get interesting.

Pot is On Fire

Weed stocks are blazing right now—no pun intended. Names like Tilray (TLRY) and Canopy Growth Group (CGC) seem to be breaking out of recent highs. We're starting to think we may be on the verge of a multi-month breakout.  

Member Trade of the Day

Congratulations to Edumomo Member mtj589, who scored on those AMD calls, as well as Datadog (DDOG) calls to end the day roughly 10% ahead! 


spectre_trades


Momentum Trader. Technical Chart Analyst. Always on the hunt for 3x or better reward to risk.

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