SIRI Daily Thread......... Thursday, May 9, 2013
No one's awake yet so I'll start the thread for today. I'll be back in a moment with a suggestion for a stock to watch, with what I feel will be an attractive entry point real soon.
EDIT. Okay here goes my stock pick.
I've been watching AMD lately as it seemingly has taken new life in the investment arena. What I see in the chart is a looming correction down to the 50% Fibonacci at $3.10 as it seems poised to bounce off of the upper trend line. RSI is extremely overbought at around 90, so I'm thinking a strong correction is in the making. Once that correction has happened, I see a very positive sign of a Golden Cross forming (50dma ascending the 200), which typically signals a strong upward surge. I personally will be ready to take advantage.