Market On Close, Thursday 17 October
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Hilarious!
by Alex King, CEO, Cestrian Capital Research, Inc
Well, I noted yesterday that if $TSM printed good numbers then the whole "It's So Over" story from $ASML would have proven just another great in-joke by market bigs. I don't suppose any of the bigs were dumping ASML Tuesday or Wednesday, and I don't suppose they were buying TSM after a 12% jump this morning either. As always it pays to watch the charts not the news. Based on these charts I added new positions in ASML and LRCX personally; TSM numbers did wonders for my $SOXL position today too.
ASML << click for full page version
LRCX << click for full page version
In both cases the obvious "yikes it's dumping, sell" risk management positions are quite near and the upside is quite far away, so I think that is good risk/reward in both names. We shall see.
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