A bit weak!
Therefore, the rebound in U.S. storage chip stocks today won't be significant either. After the opening, it's likely that they won't surpass last night's high, such as MU's night session high of 1114.
So, a prudent strategy is still to avoid bottom fishing for a rebound! Just as I mentioned during yesterday's livestream, those with aggressive strategies could try to buy MU on a dip below 10% for a few points’ rebound, which is feasible.
Yesterday, MU only had one chance during the day for a 3-5 point rebound. If you didn't seize the selling opportunity, intraday bottom fishing would lead to being trapped. Fortunately, tonight there was another chance for a high sell.
However, this kind of trading is very difficult; the vast majority probably can’t execute such short-term operations, so it’s better to rest in such a tough environment if you can.
After market close today, MU will release its earnings report. The stock price has already dropped significantly in advance these past two days, so the pressure to adjust may be lower after the earnings, but it’s not advisable to gamble on the earnings report.
If you’ve been trapped these days and are reluctant to cut losses, and want to try your luck with the earnings release, it’s not impossible. Someone compiled MU’s post-earnings performance yesterday, showing results were about 50-50.
So after the earnings report, unless there’s a major unexpected surge in stock price, you need to be quick to sell—especially with so many trapped positions above, it’s easy for others to take profits while they can.
Overall, if the core storage chip stocks of the market collapse, there won’t be many opportunities in other directions either. So, it’s time to return to a defensive stance. For those with heavy positions, take advantage of rebounds in the coming days to reduce holdings.
Wait until storage chip stocks strengthen again, or new hot spots emerge, before considering trying to re-enter!!!
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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