Short AMD

I remain short AMD after this major pivot. NVDA simply will continue to outperform this company and the stock based compensation relative to cash flows for AMD is pretty bearish/reckless. Key zone 1 has been rejected after an attempt at a strong bounce, I believe the next test will also fail and the monthly demand zone will capture. This is about another 15% downside. I expect the BBWP to cool off buy the stochastic RSI to heat up momentarily before the next rejection of zone 1. Note a falling average volume as well. This is a great stock to hedge an aggressive growth portfolio with through puts, alongside other majors like PLTR.


My plan:

Put spreads March 100-105