Advanced Micro Devices Inc (AMD)

[bobs10]

Very, very strange day. I wonder how many of the shorts closed out their positions sub $21? Of course it hasn't hurt that the general market has gotten stronger as the day has wore on, but if AMD goes positive that would be a very big change in the markets thinking.

Today seems to have started with the continued short selling, probably some left over call selling, a Pru downgrade, and finally some nasty flash news. With some bats ears stired in and the removel of a lot of stops the recipie was complete.

I wonder how many fund managers were on the horn with the office this morning from their remote retreats? Anyway, right now over 20m shares have traded and AMD is down $.25. This reversal is more of a moral victory, a vindication of AMD's fundamentals as I see it. It's still going to take earnings to get this puppy moving again, but we may have defined a new trading range today.