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After a sharp decline at the start of last week, AMD attempted to stage a rally on Wednesday, but it has since given up all of those gains again. With the stock down about 23% from its recent highs, the stock has fallen into a bear market, despite the company’s advantage over the Intel Corporation (NASDAQ:INTC), one of its primary competitors.
Today I am recommending a bearish trade on the Louisiana-Pacific Corporation (NYSE:LPX), the North American manufacturer of building materials and products. The large-cap industrial stocks of the Dow Jones had been leading the charge last week, partially due to the new trade agreement between the United States, Mexico and Canada, though the index did fall slightly. I’m also still concerned about the trade situation with China, as that country is mostly likely not going to concede to the U.S., at least not anytime in the near future.
Respect the price chart if nothing else in GOOGL stock. You can profit as a turncoat bear -- but one willing to be a patriotic bull at more opportune prices.
