New Week + AMD Update - Epic Trades - 10/16/2023

By David Prince

Good morning all,

Stocks are slightly green this morning and frustrating any traders looking for a Monday morning whoosh lower. As I mentioned on Friday, that would be the easy trading setup and for that reason would be unlikely to materialize.
It will be a very busy week with earnings including reports from $BAC and $GS Tuesday, then $MS, $TSLA, and $NFLX on Wednesday and many more throughout the week.
$NVDA is down -$4 or so on talks about restricting some AI chip sales to China. $AMD may be following in sympathy as it was down earlier and is now slightly positive, just above $105. That support/resistance zone is what we'll watch closely at the open and if it can't hold we'll salvage what's left of our calls and move on to the next trade.
More to come there as we see things in real-time.