By: Jeff Cooper

Hit and Run Trading Bonus Report - March 5, 2024

Why Hit and Run Shorted AMD Before the Bell On Monday

AMD bottomed at 93 on October  26, 2023.

214 is a major square-out as it is 540 degrees up from 93…a cube-out (versus a square-out).

On Monday AMD traded up to 211 —within a fraction of the idealized 214 cube-out.

green is 93

purple is Oct 6 the low day for a Time Price square-out (90 degrees)

blue is 214 which is 540 degrees straight across and opposite 93

red is 200…90 degrees down from 214

AMD struck a first hour high on Monday carving out a flat line formation.

In the last 10 minutes it got hit…as if someone knew something.

They did.

Below is a Bloomberg headline after the bell.

“AMD Hits US Roadblock in Selling AI Chip Tailored for China Commerce Department bars exports of powerful AI processors AMD sought US permission to sell AI chip to Chinese customers”

AMD’s late reversal left a Combo Gilligan/Lizard sell signal.

Notice that the shorter blue Tops Line parallels a Bottoms Line from the late October low.

Consequently breakage back below the top rail of this channel suggests a possible Buying Climax should AMD see follow thru below Monday’s open gap.

Downside follow thru opens the door to 197 which is 90 degrees down from Monday’s 211 high.

180 degrees down is 184.

Notice that 184 ties to the January high.

Prior resistance should become new support.

Either we get a bullish backtest of the 184/185 region or a failure below 184 signals an important high with a projection to the 17 0 region.

170 is a convergence of a Ghost Line (red) with the bottom of the channel.