by Anura Guruge
on September 21, 2023
I had a fairly good hunch that the markets would take a much needed breather after the Fed decision on Wednesday. They did, both Wednesday afternoon & today — exactly as I had expected & hoped.
I had been keeping an eye on ARM given that I did NOT get an IPO price share allocation.
I also had a hunch that ARM would drop below (or get close to) its $51 IPO price this week — IF there was a market downturn.
There was a market downturn & ARM did fall into the $51/$52 range.
I traded some AMZN options & used the proceeds to buy some ARM.
I want to build up a decent position in ARM.
I have known ARM for a long time.
I have had a LOT of success with NVDA & AVGO over the years. I think ARM will serve me well too.
