People are piling in on this thing today. It just made a nice .10 gap like move to the high of the day with a 99000 share block fill above the ask. So looks like plenty more room here. And actually, the 3mo, 6mo, 9mo MACD are all pointing to buy here. If you also look at the chart from the last gap down, it has a nice almost double bottom forming, with today, being the first green day leg up out of the second formed bottom.
NO But seriously, there is barely any open interest at the 20 & 25 strikes and a little bit at the 22.50. The 4X trading volume today speaks loud and clear. People are really believing in the CEOs comments this morning and are very bullish on the bottom line benefits to the ATI merger.
ok > i change my view > you might be correct that AMD is marked higher into January! just hate getting all worked up on a triple witch schizo move.
I've been long AMD till the Core2 release by Intel. AMD had better core microarchitecture for a number of years and was slowly but steadily stealing market share from Intel despite AMD fab lag. This microarchitecture lead was erased by Core2 and considering that Intel has (and always had) more $$$ to spend on the fab process upgrades I do not like AMD stock unless they come up with something radically new pretty soon. AMD has some momentum plus arguable lead on bus design that keeps it's stock afloat but that may end soon. I am neutral to bearish on AMD for now.