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Strategies & Market Trends : Ask Vendit Off-Topic Questions

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To: Vendit™ who wrote (4791)	2/10/2005 3:03:51 AM
From: Walkingshadow	Read Replies (2) of 8752

Hi Reid, Here's yet another juicy short. AMD: stockcharts.com[w,a]daclyyay[dc][pd20,2!b200][vc60][iLg14!Lp14,3,3]&pref=G Failed at the 200 sma as you can see on a monster gap down. Now it has rallied into resistance at the upper BB rail and the gap and the descending 50 ema. This is also at an area of chart resistance from November. Today's candle looks ominously bearish. AMD is now extremely overbought technically, with early sell signals. 139.142.147.218 The market and the sector are going down: 139.142.147.218 Almost 12% of the float is held short (about 3 days' worth of trading), so risk from a short squeeze is only modest. If AMD breaks down here (extremely likely IMHO) and drops below $15, it is dead money. Entry would be the first print below $17.91, which should occur tomorrow or the next day. Shorts taking profits probably significantly helped AMD rally into resistance, and that could be a pattern going forward. So, this might be a stock that can be repetively shorted. The risk/reward profile here is very good IMHO. T

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