Advanced Micro Devices Inc (AMD)

[JLS]

I'll volunteer that info:

Because, like a bunch of drunken sailors, three days ago the market for AMD gaped the stock higher off a smaller green candle then put an excessively large, green, stove pipe hat on top of it, and then had the guts to put a little more green on top of that during the following day. And it's not anywhere near being Saint Paddy's day!

So now was the time that the bell tolls for the inevitable St. Paddy's Day hangover; and the bigger the party, the bigger the hangover.

Said differently, in three or four days a lot of traders got a 20% (or higher) gain -- so they played the game "take it or lose it".

I'd like to see the market give back half the total gain, and that would put AMD back at $31. Bull trading rule #1: always buy 50% retraces (and that just happens to be $31 in this case).

Look at AMD's history. What do you see after every excessive, green ascent: Answer: hangovers. I see a bunch of 50% hangovers on the chart below. There is even a 100% hangover.