I'm just going to keep putting the hammer down - Long at 3.88
I've done two other ideas for ASM in the last 3-1/2 months, so I'm not gonna rehash all those details here. If you are new to me or to my ideas for this ticker, just look at those. In them, I make a fairly compelling argument for short term trading this name. I'll sum it up quickly here - it's been extremely profitable. I'm expecting no different this time.
Since my last idea on June 20th, there has been only one buy signal on this name until this week, but that one paid 9.5% in two trading days. Today's signal is actually the 3rd in a row (not uncommon for this ticker) and full disclosure, I traded the other two so I'm in this already. That said, today's signal is extra spicy, thanks to that pretty little hammer of a candlestick that printed today. For those unfamiliar, it is often a sign of a bullish reversal. It requires confirmation, but given the perfect record my signals have provided to this point on ASM, I can justify not waiting for that confirmation as it can cause missed trades if the stock jumps 4 or 5% the next day, as it is fond of doing. But if someone were to jump in on this trade but wanted to wait for confirmation, I believe that the move here would last more than one day, should it happen.
I also have been increasing my exposure to inflation-related trades lately and why not get that from something that bumps like this does?
The solid uptrend that goes back well farther than this chart shows sweetens the deal even more. Given that my first recent signal clicked at the 4.17 level two days ago, I'm expecting a move to and beyond that level in the relatively near term, though that's obviously not a guarantee. I will likely get out of this leg of the trade before it gets there, unless it does it in one move, which isn't out of the question at all. That's only about 7.5% above the current price and this stock moves that much in a day semi-frequently. Twice in the last 7 trading days, in fact.
So that's my case. If the market stays semi-strong, this will likely stay weak until the market cools off some. This is my second add to my real life position, so I'm certainly not shy about adding more if my signals warrant it.
As always - this is intended as "edutainment" and my perspective on what I am or would be doing, not a recommendation for you to buy or sell. Act accordingly and invest at your own risk. DYOR and only make investments that make good financial sense for you in your current situation.
Since my last idea on June 20th, there has been only one buy signal on this name until this week, but that one paid 9.5% in two trading days. Today's signal is actually the 3rd in a row (not uncommon for this ticker) and full disclosure, I traded the other two so I'm in this already. That said, today's signal is extra spicy, thanks to that pretty little hammer of a candlestick that printed today. For those unfamiliar, it is often a sign of a bullish reversal. It requires confirmation, but given the perfect record my signals have provided to this point on ASM, I can justify not waiting for that confirmation as it can cause missed trades if the stock jumps 4 or 5% the next day, as it is fond of doing. But if someone were to jump in on this trade but wanted to wait for confirmation, I believe that the move here would last more than one day, should it happen.
I also have been increasing my exposure to inflation-related trades lately and why not get that from something that bumps like this does?
The solid uptrend that goes back well farther than this chart shows sweetens the deal even more. Given that my first recent signal clicked at the 4.17 level two days ago, I'm expecting a move to and beyond that level in the relatively near term, though that's obviously not a guarantee. I will likely get out of this leg of the trade before it gets there, unless it does it in one move, which isn't out of the question at all. That's only about 7.5% above the current price and this stock moves that much in a day semi-frequently. Twice in the last 7 trading days, in fact.
So that's my case. If the market stays semi-strong, this will likely stay weak until the market cools off some. This is my second add to my real life position, so I'm certainly not shy about adding more if my signals warrant it.
As always - this is intended as "edutainment" and my perspective on what I am or would be doing, not a recommendation for you to buy or sell. Act accordingly and invest at your own risk. DYOR and only make investments that make good financial sense for you in your current situation.
ملاحظة
Added at 3.68 at the close. ASM has never thrown 4 signals in a row for me, so we are in uncharted water here. Maybe a big day coming, maybe a long decline. I think those are the two most probable outcomes. I am just trusting my signals here, but the resounding failure to confirm yesterday's bullish candle has me a bit more concerned than usual about the near term prospects for this one. We shall see.Lot 1 - 3.88
Lot 2 - 3.68
ملاحظة
Closed lot 2 a few minutes before the close for 3.705 -- a +0.68% gain in 14 trading days.Remaining lots:
Lot 1 - 3.88
أغلقت الصفقة: تم الوصول للهدف
Closed the original lot at the close today for 3.97, for a 2.32% gain in 17 trading days. Given its drop after I posted this, +2.32% on that original lot FEELS like 23.2%. Too bad it wasn't, but I'll take it. A relatively poor per day return for this one lately, but they can't all be gems. It was still 2x the return of SPY over the duration of the trade for that original lot. Even combined with the lame return on the 2nd lot, it still beat SPY. I'll sign up for that every time, even if I'm left wanting more. Maybe the next one will be better.ملاحظة
Trade results for my recordsWins 2 Losses 0
Avg gain per lot = +1.5%
Avg holding period per lot = 15.5 days
Avg gain per lot per day held = +0.097%
Annualized RoR = +24%
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.