Buying more ADI and hedging it with shorting SPY. Lat time my profit was 0.8% in similar hedge swing trading
Time 2:37 PM Monday ADI is at 38.68. Very cheap. I am buying it now. Quality stock which will stun the market with its good results.
I am still beating on my old drum. Semi stocks are hammpered today because of Microchip warning. Microchip is not that big player in semi industry. TXN, ADI, ALTR, LLTC are all piced low now. If you want to reduce the risk, you can buy SMH but I am going with more ADI. Few days ago it hit $40.50. It will do the same soon.
Yesterday ADI dropped in high volume. It was a scare sell. No fundamental behind it. Expect ADI and TXN to rallyover 2% today. Selling pressure is over and I believe inst buyers will come in the last two hours of trading if the market gain stays which I believe it will.
This market is acting very emotional now. I still have Rue but definetely got scared yesterday. That is my swing trade. Acting ok today. I definetely had a good day, day trading some stocks and once again, that is why I prefer to day trade. You never know what is going to happen tomorrow.