Power Plays Update: Strategy Update
October 3, 2023
By Scott Redler
With yields rising and equities coming under pressure, I wanted to chime in with a quick strategy update.
First, at a time like this, remember there is nothing wrong with raising cash and reducing long exposure.
As far as our Power Plays go, Rivian (RIVN) and Advanced Micro Devices (AMD) are right around the danger zones we listed.
And again, there is nothing wrong with moving on from them.
But I still think they have a chance of staging fourth-quarter rallies, so I'm going to give them a bit more room.
For Rivian, I'll be looking for it to hold the $18.40 to $19.40 area.
And for AMD, it needs to hold the $89 to $94 area.
On a positive note, Fisker (FSR) is acting very well - in fact it's up on the day even with QQQ down -1.8%.
Stay safe out there.
Scott Redler Positions Disclosure as of 2023-10-03 at 2.38.25 PM