Readers will see below that Advanced Micro Devices (AMD) built a Rising Wedge pattern of bearish reversal while running into late June. The shares then caught a bid close to a 38.6% Fibonacci retracement of that entire rally in late July. 

This past August the stock had flirted with taking back both its 21-day EMA and 50-day SMA, but failed to do so at that time, forming a Triangle pattern in the process.

This week, AMD has broken out of that pattern and taken back both of those key moving averages. This forces both swing traders and professional managers to play ball with each other. 

Looking at the indicators, both Relative Strength and the stock’s daily MACD are suddenly looking much more bullish. The histogram of the 9-day EMA has now regained the zero-line while the 12-day EMA has overtaken the 26-day EMA. Should both of those lies go positive, this stock could very likely see an algorithmic boost on top of the current action.    

Target Price: $700 (reiteration)

Pivot: Recent 50-day SMA ($499)

Add: Down to previously tested Fib level

Panic: Loss of said Fib level

Position: Long AMD equity 

Treasury Department to buy back $6 billion in longer-term debt, triple the normal level

Position: None

Why I’m Adding to 3 Stocks on Weakness

Positions: Long ALTO, ASPN, EVLV, OCUL, ONDS, PL, PTON, RKLB, SOFI, SWBI, VELO equity. Short OCUL, SOFI calls.

S&P Futures: -39 vs FV.

Nasdaq Futures: -218 vs FV.

US Ten-Year Note: 4.811%

US Two-Year Note: 4.427%

US Three-Month T-Bill: 3.885%

WTI Crude: $95.75

Gold: +0.06%

Silver: -0.4%

Bitcoin: +1.22%

US Dollar Index: -0.16%

Positions: Long physical gold & silver

Is the ‘House’ on Solid Ground?

Positions: Long INTC, AMD equity.

(vs TheFly)

Chewy – CHWY 9/9/26 08:00:00 ET
Managers: Company Sponsored | Streaming Link

J.Jill – JILL 9/9/26 08:00:00 ET
Managers: Company Sponsored | Call in Number: 833-461-5787 | Call in Code: 572 594 243 | Replay Number: 929-828-5978 | Replay Code: 572 594 243 | International Call in Number: 585-542-9983 | International Call in Code: 572 594 243 | Streaming Link

Oddity – ODD 9/9/26 08:30:00 ET
Managers: Company Sponsored | Call in Number: 877-407-9208 | International Call in Number: 201-493-6784 | Streaming Link

Signet Jewelers – SIG 9/9/26 08:30:00 ET
Managers: Company Sponsored | Call in Number: 833-461-5787 | Call in Code: 785 183 090 | International Call in Number: 585-542-9983 | International Call in Code: 785 183 090 | Streaming Link

SailPoint – SAIL 9/9/26 08:30:00 ET
Managers: Company Sponsored | Streaming Link

Casey’s General Stores – CASY 9/9/26 08:30:00 ET
Managers: Company Sponsored | Streaming Link

Nano-X Imaging – NNOX 9/9/26 08:30:00 ET
Managers: Company Sponsored | Streaming Link

Core & Main – CNM 9/9/26 08:30:00 ET
Managers: Company Sponsored | Call in Number: 833-461-5787 | Call in Code: passcode = 858 028 883 | International Call in Number: 585-542-9983 | International Call in Code: passcode = 858 028 883 | Streaming Link

Perma-Pipe International – PPIH 9/9/26 08:30:00 ET
Managers: Company Sponsored | Call in Number: 877-317-6789 | International Call in Number: 412-317-6789 | Streaming Link

Cognyte – CGNT 9/9/26 08:30:00 ET
Managers: Company Sponsored | Streaming Link

Jersey Mike’s Subs – JMKE 9/9/26 08:30:00 ET
Managers: Company Sponsored | Call in Number: 877-425-9470 | Replay Number: 412-317-6671 | Replay Code: 13762283 | International Call in Number: 201-389-0878 | Streaming Link

Destination XL – DXLG 9/9/26 09:00:00 ET
Managers: Company Sponsored | Streaming Link

Mind Technology – MIND 9/9/26 09:00:00 ET
Managers: Company Sponsored | Call in Number: 412-902-0030 | Replay Number: 201-612-7415 | Replay Code: 13762280 | International Call in Number: 412-902-0030 | Streaming Link

Caleres – CAL 9/9/26 10:00:00 ET
Managers: Company Sponsored | Call in Number: 877-704-4453 | International Call in Number: 201-389-0920 | Streaming Link

Academy Sports – ASO 9/9/26 10:00:00 ET
Managers: Company Sponsored | Call in Number: 877-407-3982 | Call in Code: 13762096 | Replay Number: 412-317-6671 | Replay Code: 13762096 | International Call in Number: 201-493-6780 | International Call in Code: 13762096 | Streaming Link

Fifth Third – FITB 9/9/26 11:00:00 ET
Managers: DADA-DA Davidson | Investor Relations: 513-579-5300 | Streaming Link

Optical Cable Corporation – OCC 9/9/26 11:00:00 ET
Managers: Company Sponsored | Call in Number: 833-316-1983 | Call in Code: OCCTHIRD QUARTER 26 | International Call in Number: 785-838-9310 | International Call in Code: OCCTHIRD QUARTER 26 | Streaming Link

Korn Ferry – KFY 9/9/26 12:00:00 ET
Managers: Company Sponsored | Streaming Link

Custom Truck One Source – CTOS 9/9/26 13:00:00 ET
Managers: DADA-DA Davidson | Investor Relations: 855-458-8798

American Eagle – AEO 9/9/26 16:30:00 ET
Managers: Company Sponsored | Streaming Link

Limoneira – LMNR 9/9/26 16:30:00 ET
Managers: Company Sponsored | Call in Number: 877-407-0789 | Replay Number: 412-317-6671 | Replay Code: 13761764 | International Call in Number: 201-689-8562 | Streaming Link

AeroVironment – AVAV 9/9/26 16:30:00 ET
Managers: Company Sponsored | Streaming Link

Lakeland Industries – LAKE 9/9/26 16:30:00 ET
Managers: Company Sponsored | Call in Number: 877-407-9208 | Call in Code: 13761308 | International Call in Number: 201-493-6784 | International Call in Code: 13761308 | Streaming Link

Cooper Companies – COO 9/9/26 17:00:00 ET
Managers: Company Sponsored | Call in Number: 800-715-9871 | Call in Code: 9708839 | International Call in Number: 800-715-9871 | International Call in Code: 9708839 | Streaming Link

Wealthfront – WLTH 9/9/26 17:00:00 ET
Managers: Company Sponsored | Streaming Link

Gloo – GLOO 9/9/26 17:00:00 ET
Managers: Company Sponsored | Streaming Link

Position: None

(via TheFly) 

Industrials 9/9/26 00:00:00 ET
Sponsors: RHCO-Truist | Industry: Industrials | Location: Mid-Atlantic

Paper & Packaging 9/9/26 00:00:00 ET
Sponsors: RHCO-Truist | Industry: Paper & Packaging | Location: Baltimore MD

Exploration & Production 9/9/26 00:00:00 ET
Sponsors: ROTH-Roth Capital | Industry: Exploration & Production | Location: New York NY

Consumer Internet and Consumer AI 9/9/26 00:00:00 ET
Sponsors: RBLT-Rosenblatt | Industry: Consumer Internet and Consumer AI | Location: New York NY

Macro Strategy 9/9/26 00:00:00 ET
Sponsors: ROTH-Roth Capital | Industry: Macro Strategy | Location: Chicago IL

Industrials 9/9/26 00:00:00 ET
Sponsors: RHCO-Truist | Industry: Industrials | Location: Mid-Atlantic

European Midcaps 9/9/26 10:00:00 ET
Sponsors: JEFF-Jefferies | Industry: European Midcaps | Streaming Link

Euro Capital Goods 9/9/26 10:00:00 ET
Sponsors: JEFF-Jefferies | Industry: Euro Capital Goods | Streaming Link

Position: None

S&P Futures: -34 vs FV.

Nasdaq Futures: -175 vs FV.

US Ten-Year Note: 4.811%

US Two-Year Note: 4.43%

US Three-Month T-Bill: 3.88%

WTI Crude: $94.98

Gold: +0.18%

Silver: -0.04%

Bitcoin: +0.53% 

US Dollar Index: -0.02%

Positions: Long physical gold and silver

You smell that? Nothing else in the world smells like that. Smells like “victory.” Forgive the paraphrasing of Robert Duvall’s character in the movie Apocalypse Now. That’s how I want to wake up every day and I want you, the readers, to wake up. Full of fire and energy. Let’s go!!!!

Rough, tough, can’t get enough… You know the rest. Hit the deck. Beat your face (do push-ups if you can). Up on the chin-up bar. I don’t care if you break it up into sets, everyone does a max set (if you can). Rise and shine. It’s Wednesday and this is going to be a glorious day. 

Because the markets are going our way? Heck no. Which way the markets go is immaterial for now. This day will be glorious because we understand, we identify, we adapt, we overcome and then we carry on. Follow me, my legions. For this day, we plant our flag on their turf. Rock and roll. 

Position: None