Hey all, AMD is currently making a 1-for-1 repeat of when it broke $100 before; only this time, it's doing it after it broke down from the 74 dollar level. Keep an eye out on a potential repeat all the way- I still think we are going to head to backtest $74 before earnings.
Here's what is challenging my thesis that we hold up across the board intermediate term: GOOG
Though I suspect AMD is due to bounce, GOOG looks ready to dump, now. I'm not playing anything long right now until I see improved risk:reward- I don't like betting against trend, and buying things here would definitely be betting against trend. I think AMD in the mid-70's is a solid short the first time around.
Here's what is challenging my thesis that we hold up across the board intermediate term: GOOG
Though I suspect AMD is due to bounce, GOOG looks ready to dump, now. I'm not playing anything long right now until I see improved risk:reward- I don't like betting against trend, and buying things here would definitely be betting against trend. I think AMD in the mid-70's is a solid short the first time around.