Dave Re: Chic, it wasn't anything like that.
Dave,
You missed my point.
There are roughly 10,000,000 shares short. At the beginning of today, all of the shorts were losing money.
Say 1,000,000 shorts covered today; and we still closed at roughly even for the day. This is a bad sign.
I agree with what you say; if the smart investors stepped in and loaded up with shares they aren't looking to sell anytime soon, this is a very good sign.
Today's impact will have a profound impact on how the stock performs for the nearterm. As someone that has 51 April call contracts, this worries me and I wish I understood the situation more.
From my perspective; I thought today was a great buying opportunity, but was too scared to pull the trigger. If I was short AMD, I would've jumped at this opportunity to finally get out and minimize my losses. Which leads me to believe, many shorts got out today and the short interest decreased, thus, moving us closer to the overbought situation.
I hope we ended the day with the same amount of shorts, or more. I also hope that some bulls (with more balls than me) took advantage of today to load up with more shares that they don't plan on selling anytime soon.
chic |
