"Our" AMD........the moment of truth is nigh ??.....g
Earnings due Wednesday PM.....and most of the techies on the AMD thread looking for pleasant surprise, plus important FA-type announcements (FYI ..I don't understand a big percentage of the tech stuff I read over there....g) Judging by Friday's LOUSY action, though, doesn't look like the "market" agrees.......and if the thread boys are right, there could be a little upside explosion.....
Per my TA, picture still mixed...AMD still has high relative strength ranking after this long down/sideways action. (You should particularly note that it has NOT taken out its Feb low.....VBG). Recently touched..and held above....long uptrend line drawn from the 2002 low. But has not been able to break above two overhead downtrend lines.......one from the high last year, and a shorter one. The MA voodoo ain't looking particularly healthy, and the technical soup is just so-so.
Some interesting developments elsewhere.....Latest short interest report showed AMD with largest increase short interest of any stock on NYSE, and showing the 4th largest total amount of shares short.....Shorts now 20% of float, with the short ratio at 7.2 days.....So looks like there could be some potential for fireworks there..??
On the Put/Call front. Jul open interest heavily weighted in calls....about 50% more calls than puts... but as of Friday, only about 10% were in the money. About 80% of puts were in the money.....Not sure what this means, if anything (the Freep has always been my personal P/C and OI advisor, but he's off playing with the Freeplets......g.)
Felt free to chatter about this because it is, after all a weekend (and I'm running late for a nice outing).....Think I know your thoughts........but, if you have any reactions to the short interest and P/C stuff.....and anything else new..... appreciate your keeping me posted. |
