Advanced Micro Devices Inc (AMD)

[sgolds]

Looks like we are closing at $15.19 or so, well up from yesterday's closing price of $14.68. So have we tested support? Maybe. A little early to tell - depending on how the rest of the market goes, we may dip to approximately yesterday's close and complete establishing support (or break under it).

However, if we go up from here then I will purchase some Jan 16 calls. The next resistance is that peak just above 18 - if AMD does manage to make a higher peak than that, it would be very bullish. It could define 14.68 as the new base for a bull leg that could carry into the low 20s.