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Members Trade Watch: AMD

BotTrigger Trade Watch: $AMD we like this stock for a lot of reasons... but we can't endorse an entry just yet. Monthly stochastics is at peak value right here and that's usually the zone some pressure is released and we can get some intermediate bearish action that pulls the stock back significantly before resuming a larger uptrend. Like that can all happen while it's on its way higher by end of year. Take a look at how the stock has behaved when stochastics was at peak level on the momentum curve...notice what the stock tended to do thereafter. And then take a look at how it behaves when it's in an uptrend. Many time a peak stochastics level didn't mean the top on the primary term, it just meant an intermediate term top had formed before resuming higher. So that's important to distinguish. In other words, we will wait till we can get AMD lower. If that doesn't happen then we just wait till the next setup on AMD.

Some of the greatest pearls shared by Jesse Livermore:

“Money is made by sitting, not trading.”

“The desire for constant action irrespective of underlying conditions is responsible for many losses in Wall Street even among the professionals, who feel that they must take home some money everyday, as though they were working for regular wages.”

“Buy right, sit tight.”

“Nobody can catch all the fluctuations.”

“There is a time for all things, but I didn’t know it. And that is precisely what beats so many men in Wall Street who are very far from being in the main sucker class. There is the plain fool, who does the wrong thing at all times everywhere, but there is the Wall Street fool, who thinks he must trade all the time. Not many can always have adequate reasons for buying and selling stocks daily – or sufficient knowledge to make his play an intelligent play.”

“It takes time to make money.”

“Don’t give me timing, give me time.”

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