Dave:
Like you, I don't see AMD sinking much lower...As Paul, Cory and others no doubt will remind you, I felt the same way at $40 though...Fundamentally, imho, rock bottom (i.e minimum takeover price) is $40...
As far as igniting AMD, the first step, as you have pointed out, is breakout above $20 from this persistent down channel with current trading range $14 to $20 approx...As some of us have found out the hard way, market tone is the critical factor in this equation (weighted much more strongly than I would ever have believed possible). Some indications of stabilization or, even better, firming of the PC sector would do wonders for the oversold (wildly, imho)AMD...Other contributing factors would be oil at 425 a barrel, Nas at 3000, and easing up by the fed...Of course new AMD product intros (i.e DDR, mobiles, servers and palomino)will accelerate any general strength in the tech sector that might materialize over the next couple of months!!!In the meantime it's a $14 to $20 trading range... |
