Trade Findings and Adjustments 09-12-24
Keve Bybee – keve@hurleyinvestments.com
What’s going on in our market?
- Market doesn’t know yet which direction it wants to go
- Sort of holding pattern while we wait for the FOMC meeting to confirm whether or not we will get the expected rate CUT and how big the cut will be.
What have we been up to?
- As we’ve watched tech fall down once again, both NVDA and MU have hit double bottoms
- We made the decision to roll our protection down to capture some profit on our puts
- MU we booked profit on 102 strike puts and rolled them to 90 strike puts.
- WHY?
- Market doesn’t know yet which direction it wants to go
- Glad we did because MU had a downgrade today that made no sense
- MU is holding a double bottom support level right now
- There is some ridiculous opportunity in MU right now
