AMD down another 3% today so far. Looks like a good spot to add on or get in if you want to gamble on earnings next week. That is if it holds this support I drew in below. If it drops below, might not be able to trust the support.
10.45 level showing good support. This nice dip allowed me to close out some Jan short calls for a profit, and picked up some Feb 17 long calls.
Hopefully today will be a prelude to a short squeeze on the 17th The number of Advanced Micro Devices Inc. (AMD) shares short increased to 86.62 million shares from the previous level of 82.81 million. Shares were recently trading at $10.94, in a 52-week range of $1.75 to $12.42. Note that like Intel and Micron, AMD is one of the most shorted Nasdaq stocks. http://finance.yahoo.com/news/short-sellers-back-off-major-153541793.html
Loaded some more APR 21 12 calls this morning. Buy Advanced Micro Devices, Inc. (AMD) Stock on Any Dip http://investorplace.com/2017/01/buy-advanced-micro-devices-inc-amd-stock-dip/#.WHezW1MrLRY
AMD to Report Fiscal Fourth Quarter and Full Year 2016 Financial Results on January 31, 2017 http://ir.amd.com/phoenix.zhtml?c=74093&p=irol-newsArticle&ID=2237232
AMD Launching Ryzen CPU On 28th February During GDC 2017 – All Set To Become Competitive Again http://wccftech.com/amd-launching-ryzen-cpu-gdc-2017/
Am expecting another drop in the morning as MM try and shake out some weak hands, then rebound up toward the end of the day.
Just a month and half left to wait. So excited about how Zen will affect the stock price. And I could use a new CPU for my PC.
The "Last Point of Support" was $6.22 on Nov 10th. That low led to a high of 12.42 giving an "effect" of $6.20 or a 99.7% gain. There was negative momentum divergence between the price peaks of 9.22, 10.93, and 12.42. The push to 12.42 was climatic; everybody that wanted to buy had bought. From Point & Figure charts the past "cause" gave a target of 12.50 (see my previous post on page 65). The actual high so far was 12.42. It does not appear like that wants to get tested anytime soon, nor is it necessary to get tested since the high was not on exceptionally high volume. So the cause was used up and it needs to build more cause; it needs to be re-accumulated by those who can control/limit the supply. A 50% retracement between the 6.22-low and 12.42-high is 9.32. The cause built in the previous 2 weeks yields an "effect" down to 9.25 to 9.75. The top of the trading range below is 9.22. Thursday the big money and professionals stopped supporting the $11 support-line and let the public break it down out of that trading range. $11 is now resistance.
AMD Discloses Vega Graphics Architecture Details And It Looks Promising http://www.forbes.com/sites/patrick...ils-and-it-looks-very-promising/#399b81d87c5c
Longer term I show on the 0.25x3 Point & Figure an upside objective of 59.75. In the larger trading range (TR) a ton of supply came in on the retest/crash to $2. The big boys were gobbling up shares from the public. Then on the 2nd retest of $2 the supply dried up, there were no more sellers. Consequently the price rose to $6 and then $12.42; both legs appeared to have been signs of strength on the P&F. However, now I suspect the public is too involved in the stock; there are too many weak hands. The wealthy sponsors need time to take back the shares they sold to them on the way up. How that re-accumulation plays out is speculation but below is one idea. However it will take a while (weeks/months) and it could go deeper, so I'm staying out of harms way until it sets up. EDIT: Of course there is always the possibility that the shorter term cause being used-up won't mean squat and it just explodes higher. Still though, it is a probability game and I believe I'll wait. $0.25-box by 3-box-reversal Point & Figure:
For those of us that have been playing AMD for awhile we have seen this down scenario before when it looked like the sky was falling only to come back and set new Multi-year highs. There has been no bad news only upgrade after upgrade. Contracts with BABA and GOOGLE are nothing to sneeze at. What is hurting AMD is the path of NVDA with ongoing short sellers. AMD has followed the same path and at times a bigger drop because of higher short interest. The Extension time the ER has gave the short sellers more time to do what they do besides the additional increase in short interest. With the RSI now below 50, AMD could be setting up for a short squeeze. It may not happen til the ER unless Lisa Su decides to set up a bear trap or some emerging news.
CyberPowerPC's all-AMD gaming PC is Oculus-ready for just $500—if you buy a Rift CyberPowerPC’s $499.99 Gamer Ultra VR is the first desktop ready for the Oculus Rift headset that is priced under $500, but there’s a caveat. You’ll need to buy it with the Oculus Rift headset, which costs more than the PC at $599.99. The bundle will put you back $1,099.98, but that’s still a good deal for an Oculus Rift plus desktop, which could otherwise get pretty expensive. The Gamer Ultra VR desktop is available on Best Buy and will also be sold by Amazon. The standalone price for the desktop without the headset is $649.99 on both Best Buy and Amazon. By way of comparison, the company’s VR-ready desktops with more powerful GPUs, like Nvidia’s GeForce GTX 1060 and AMD’s RX 480, start at about $800, also not including the headset. Read More: http://www.pcworld.com/article/3155...ready-system-costs-499-if-you-buy-a-rift.html
I love technology and building my own computers. I was talking to a couple of guys about monitors, we're all in our 30's. Then the one guy says "I can't wait for Ryzen and Vega I'm going to do an all AMD build." I said, "Me too, it's going to be awesome!" Then the third guy added: "Yep, me too!" When the third guy chimed in and I realized all three of us are going to do an all-AMD build before summer I realized this is even bigger than the analysts realize and I gotta buy more stock! :-D The hype is very strong on YouTube. More importantly, you can look in the comments and see how excited everyone is:
