Steve Miller on $SMCI (Oct 31, 2026)

Here's the stock, SMCI. This stock has announced its earnings, and its performance has been extremely volatile. I want you to look here at these weekly cycle patterns, which of course refer to the month of December.

While it falls below the support level, it tries to hold here, and this is the daily chart. So, here they raised expectations and the stock rose, but the earnings report will not be released until November 3rd.

You can see the periodic pattern here and that large rise there. When you look at this, the momentum turns negative, and it seems to me that you can trade within a range here. So, with this type of stock, when I see this type of movement, what I'm looking for is a price range, because this could be one of those stocks where you can use "staddle" or "strangle" strategies if you're an options trader.

That's the range there, and you can see that it's in the middle of the range at that point.

I will look for an opportunity with a slight bias towards short selling because the momentum is negative, and the cycle patterns look negative. But you have this big bounce, and we have the earnings coming up, so you're likely to get high implied volatility.

To me, it seems that this stock may need time until the end of the year to become suitable for investors, and I believe it may become investable by then . This is SMCI ( Super Micro) stock, and it currently appears to me to be in a limited trading range with a tendency towards a decline; this is the most accurate description of it at the moment. So, this is the " SMCI" stock.