Distribution vs. Re-Accumulation

10 set 2017

New 1-wave high after multiple new swing lows off the previous high. The current new high appears to be a Terminal Upthrust on MU. Distributions (like Accumulations) generally take prolonged periods of sideways action to play out. I expect a short to medium term wide range distribution/re-accumulation period on MU. Full Disclosure: Currently long Oct-20 call condor 28/29-35/36 with about a 1:1 risk:reward. Good trading to all.

12 set 2017

Nota

Taking heat, but currently still within my profit strikes. Will close trade if we break out of range without a successful reversal back in. good trading all

18 set 2017

Nota

Will be exiting this position if price doesn't test the upper boundary of the trading range that we just broke out of in the next few days. Good trading all.