Mani:
"Today I went short AMD at $31.25. First time I have been short AMD."
A word of caution...Technically, AMD, by closing above $30, has broken out on the upside, which usually signals a fairly strong move to the next resistance level somewhere in the $36 range...There is a gap between $30 and $30.75 that may get filled, but any bounce off $30 will signal that the next upleg has begun...
If market action was coincidental with fundamentals, AMD'd never have gotten below $40, and INTC'd be trading below $20 right now...Both, at the moment seem to be trading based upon very positive 6 month out scenarios!!!
Good luck, but surely there are 100's of better shorts out there than AMD...After all, AMD is making money in this market, gaining market share and if palomino, which could be introduced any day now, lives up to its billing, AMD could get to $36 in the blink of an eye!!! |
