Scott Redler’s Dog Bytes: AMZN, AMD, AMC

AMZN’s active sequence started on June 7 with a Red Dog Reversal long signal. I put on a $3700-$3900 macro August call spread when the 8/2 1 day got reclaimed around $3250. It’s had a nice move since then. I also bougt some shares as it cleared $3471 to hit a high of $3511. I might get more aggressive if it can get above $3524. Then a close above $3554 on huge volume can open the door for a range break. It’s hard to tell if it will be this week or closer to earnings. So it’s tricky.

AMD was a great buy in the $81 area as it reclaimed all the moving averages for a big swing long. Last week it held $91 and hit $95+. It does look like it's on the way to new all-time highs.

Last week AMC failed to clear $59 and hit a low of $47.80 on Friday. It's up on some numbers and talk they won't increase share size. $56 will be big resistance.

Positions Disclosure as of 7/6/2021 at 7:59 a.m. ET