The Market Just Nosedived⎯Here’s How To Play A Bounce On Lam Research (LRCX)
Share
Today’s stock hasn’t made it across our screens in quite sometime, but today, Lam Research (LRCX) makes its return. However, the timing couldn’t be much worse. With the release of non-farm payrolls and yields taking another leap higher, the market looks to once again be on some shaky ground.
This wouldn’t totally negate the trade below of a bounce at a possible support level, it just means we would need to be extra careful as the market could continue its pre-market pullback very easily as investors become spooked about the performance of the market during this time.
Rejects are probably a bit more high probability in a market like this, but we can still see some bounces off key levels of support. If this is the case with the 600 level on LRCX, traders should expect a quicker, shorter-lived move for support bounces.
If you like The Profit Machine (TPM), then you will really like my Wednesday Profit Room trading service. Same high-quality options action, as well as more world-class trading education. As I say, the more screen time and education you expose yourself to, the better. Give it a try for one month here and if you don’t find even more value, cancel anytime. Your success as a trader is on the other side of hard work and education, will you be willing to put in the work with me as your guide? Give it a try today!
