Advanced Micro Devices Inc (AMD)

[bobs10]

Well, that was painful.

Not as bad as it could have been, but I would rather have sat through a root canal than the wallet-ectomy I got. Well, look at it this way, we got rid of nearly 50m of the weakest hands for a little over 2 bucks, probably not a bad deal. Considering the way the scavengers ran in at the end of the day this was probably the low before earnings. Especially so since Monday is a holiday and that just leaves Tuesday for more damage to be inflicted. The actual earnings dates are usually relatively calm with everyone having already taken positions.

Hopefully AMD's earnings will live up to the markets expectations. What has happened in essence is that we traded low-earnings expectation owners for higher-expectation owners which might not be that hot for the stock’s price if AMD earnings are perceived to be lacking in some way. The buyers today probably don't have the event horizon of a long or they would have been in AMD long ago.