TradeKing Blog Nasdaq - Very Disappointing News and AMD switch to PUTS

Open was not good today for Nasdaq. Although the buying on the dip after move down happened in many issues, the moving averages are there above and can push price down further for more weakness. I took the opportunity to get out of my calls on AMD for both of my accounts. I held these calls for a while even had re-adjustments to strike levels. Just wasn't working - for some promise happening in price - after that happened, then price didn't hold up well and showed weaker during the time for longer. I have 3 AMD puts at 11.50 for July 28th expiration in Options House now at a fill of 1.00 per contract. I have 1 AMD put at 11.50 for July 28th expiration in Ally at a fill of 1.09. I might be in these for a short time. Fed moved interest rates up yesterday and then someone on CNBC made a call for selling tech. This caused me to re-analyze my positions this morning. I will continue to monitor the situation and analyzing the charts. Read MoreOptions involve risk and are not suitable for all investors. Click here to review the Characteristics and Risks of Standardized Options.Click here for additional TradeKing disclaimers.