AMD, Upward Channel, IBM Does AI Now, TSLA Eats It, on Thursday, Jan 25, 2024

IBM joined the AI hype club. $175 to $200.

TSLA got wrecked by a bad earnings call. EV outlook is faltering. I traded a morning pop. Getting pushed away from this one since I’m only long in this market, and the stock broke a major price downward.

More layoffs but bigger GDP. Dying middle class in a nutshell.

Strategy

Long only, multi-stock. S&P dividend stocks that either have a daily RSI over 60 but are under the 15-minute 200 SMA, or gapped up with a non-downward 15-minute 200 SMA. Exit same day, preferably in the early hours.

Watchlist

IBM NVDA SMCI AMD MSFT META GOOG WRK WRB

AMD

Faded the pop. The moving average was going up and the price kept pushing against it. In an overall upward channel on the daily.

Happy trading.

(This post is for entertainment purposes and is not investment advice. Most people lose money doing this.)