Recently I posted reviews of two stocks that are in the news today. I know I helped save a few of you from nasty scenarios:
- Micron (MU): My last few posts I warned against a likely downside scenario. A week ago (at the crayon "X") I said that the price action has no more room for error. Today it hit market lower target and then some. Doing the right thing would have been to book profits. The trend continues to trade within the white descending pattern. I have no reason to chase it at least not until the markets in general find footing. I don't like to layer Micron-centric issues on top of general market challenges. I'd rather miss a trade than jump in too early.
- Avalanche (AAVL): A bad day in today's open session and a disaster after hours (-35%). Back in May I warned against chasing it