Trade of the Day: Advanced Micro Devices, Inc. (NASDAQ:AMD)

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Our indicators have now turned from a bearish reading last week to a solid bullish reading this week. Of course, we had an extended period of market losses, so we’ve seen somewhat of a reversal now.

As traders, we always want to look at the CBOE Volatility Index (INDEXCBOE:VIX), and that is still very low. This tells me that, at this point in time, there isn’t a lot of danger of a crash. When the VIX does start to rise a lot, you have to get very defensive — but we are just not seeing that. Even the pop after Speaker Paul Ryan pulled the health care bill was relatively small.

So, we’re still in a bull market, and it looks like it’s going to continue. The market’s rallying into what I would consider to be bad news on the political front. Add it all up, and today I’m confident recommending a bullish trade.

Buy to open the Advanced Micro Devices, Inc. (NASDAQ:AMD) Jul 16 Calls (AMD170721C00016000) at $1.35 or lower.

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