It appears the pre-market shorts walked into a bull trap. Not sure what they were thinking as it was apparent the markets were going to be up
There were several old news headlines on the Yahoo Finance site that were posted yesterday afternoon including last years 3Q loss. I'm not sure if that played any part or not. I bought in pre-market.
I saw that too Lonnie and that was odd. Before I read the date of the article I am thinking what. It is hard to believe the big boys would short on that. Good move buying in pre-market. AMD now back in the pennant and the volume should be higher today because of the gap down.
I almost fell off my chair when I saw the gain of my Jan 20, 2017 $5 calls today, but not sure why the last trade was $2.95 since the ask is $1.00. It will be sad to see all the gain goes away once someone buy at $1.00 again.
AMD to Report Fiscal Second Quarter Results on July 21, 2016 SUNNYVALE, CA--(Marketwired - Jul 7, 2016) - AMD (NASDAQ: AMD) today announced that it will webcast its earnings conference call on Thursday, July 21, 2016 at 5 p.m. EDT / 2 p.m. PDT to discuss the results of its fiscal second quarter ended June 25, 2016. All interested parties will have the opportunity to listen to the real-time audio webcast of the teleconference over the internet through AMD's website at ir.amd.com. An archive of the webcast will be available for approximately one year after the conference call. http://finance.yahoo.com/news/amd-report-fiscal-second-quarter-201500383.html I hold the following calls and got in very early on the on the Jan 2017 calls
This explains the action in pre-market this morning. Just like the downgrade on T yesterday this is the shorts trying to push a stock price down. This is almost like insider trading as the news is hidden from the public until much later. The SEC should stop this type of activity but it has been going on since stocks started trading on the net, Well the shorts created their own bull trap this morning Shares of Advanced Micro Devices (AMD) are increasing 1.79% to $5.11 early Friday afternoon although Bernstein cut its rating on the stock to "underperform" from "market perform, Bernstein has a $3 price target on shares of the Sunnyvale, CA-based semiconductor company. The stock may disappoint investors moving forward, according to the firm. Advanced Micro's PC chips performed better than expected in the first quarter, but the outperformance was likely because of channel fill, Bernstein said. Sales of its new Zen chip for servers will likely not increase much for another year, the firm added. Additionally, Bernstein believes the company's 2016 fiscal second quarter results could come in below analysts' expectations, the Fly noted. https://www.thestreet.com/story/136...rnstein-downgrade.html?puc=yahoo&cm_ven=YAHOO
Thanks TTT for the reason as to why it was down pre-market. So tempted to pick up more shares (not calls) this morning but end up buying something else. I am still very happy with the calls that I have this moment.
AH very misleading. Just thumbing through the L2 history, there was 3 trades totally 174K at the ask of 5.10. Most shorts are not going to jump in after a Fridays close, too risky. If you think of the drop this morning there was probably some profit taking that made up part of that
I hate to double post but this is hot off the press so to speak. I am surprised it wasn't released during the rally today. I smell more $$$ Gaming desktops with AMD's Radeon RX 480 are on sale for under $800 Desktops with AMD's $199 Radeon RX 480 graphics card have started to go on sale a month after the GPU was announced. Some of the desktops are priced under $800, which is very affordable by gaming PC standards. That's largely because of the GPU's low price, but the RX 480 is no slouch: it's capable of 4K gaming and makes desktops VR-ready. It's the first GPU based on AMD's new Polaris architecture, but you can expect even faster, higher-priced Polaris cards later this year. Best Buy is selling the CyberPowerPC Desktop with an eight-core AMD FX 8320 CPU and RX 480 for $849.99. It has a 2TB hard drive, eight USB 3.0 ports, Gigabit Ethernet and 16GB DDR3 RAM (not the speedier DDR4 in some gaming systems). Newegg on Monday will start selling iBuyPower's $799.99 Desktop Computer NE648RX, with a Core i5-6400 CPU, the RX 480, and a 1TB hard drive. A similar iBuyPower desktop is listed on Amazon for $749 and will ship in a month or two. CybertronPC, meanwhile, is selling desktops for gaming and VR starting at $999. The RX 480 is an option with Origin's PC Omni all-in-one gaming system, which as a curved screen with 3440 x 1440 resolution and an Intel Skylake chip. A $2,449 entry-level PC Omni has a Core i5-6500, 120GB SSD, 8GB of RAM and the RX 480. A tricked out version, with a 10-core Intel Extreme Core i7 6950X, 32GB RAM, the RX 480 and 4TB SSD storage in two slots, is priced at $5,394. GPU options from Nvidia kick the price up higher. Asus will soon release the ROG Strix RX 480 graphics card, based on AMD's technology. It will work with Asus's gaming PCs and monitors that support AMD's Freesync technology, which links displays directly to GPUs so images are rendered faster on screen. Falcon Northwest has no current plans to sell PCs with the RX 480, but it will if it sees enough demand, said Kelt Reeves, CEO of the boutique PC company. "I'm glad the product is out there. It's great to bring budget VR," he said. Falcon Northwest tends to sell higher-end systems, with average prices of around $4,000, with high performance GPUs like Nvidia's GeForce GTX 1070, Reeves said. If enough people want the RX 480, Falcon Northwest will qualify the GPU and offer it in desktops, he said. http://www.pcworld.com/article/3092...-radeon-rx-480-are-on-sale-for-under-800.html
Thanks for the info @anotherdevilsadvocate and course I am looking at mass budget sales to add to the revs. The kicker will be when Apple with Polaris under the hood becomes available this year. Another strange day of trading. The pennant has been slightly broken to the upside on increased volume. Start of a breakout? A couple things here...First I think the increased volume was due to the shorts driving the price down and then the buyers rushing in and moving the price back up. Now the news below could give AMD an extra boost and cause a true break above the pennant. Monday could confirm the start of a breakout or back to accumulating inside the pennant. Gaming desktops with AMD's Radeon RX 480 are on sale for under $800 http://www.pcworld.com/article/3092...-radeon-rx-480-are-on-sale-for-under-800.html
I'd be surprised if it's the SSD that drives the price up since you can buy internal 500GB SSD's for 150 bucks.
It is normal for the bulls and bears to promote the direction of AMD and other stocks. You have those that are long or short that will report what is in their best interest by leaving out important factors and putting things out of context. Many of these writers are nothing but pawns used by the big money boys. Buyer or seller beware when reading some of these articles. Decent article http://marketrealist.com/2016/07/fiscal-2q16-amd/
