If you recall our monitoring of AMAT earnings on Aug 13th, that concept and trade idea would have panned out well. AMAT The post earnings reversal was met with a breakdown of the upward support trend line a day later. AMAT has collapsed from $534 to $430, a breakdown of just shy of 20% in less than a month. Meanwhile Dell just reported its earnings and is primed for its own reversal: DELL DELL doesn't have quite the same longer-term track record of declines after earnings as AMAT, but its last earnings back on May 28th was also initially well received, only to see DELL fall from $469 to $359, approximately 21%.over the following six weeks. Nothing to do now but keep watch for a price breakdown of the rising blue support trend line. DELL is up over 300% YTD, a lot of froth to retrace, if and when support is broken. XOM We have done well with XOM calls and the stock has just broken out to the upside, suggesting a new leg higher. XOM October Expiration If looking to add, the Oct $170 or $175 strikes could both be deep in the money come October expiration.
