Well, I believe that it is actually supposed to say "A December to Remember" taken from a car commercial…..but I thought I would give you this Christmas present early.
Did you know that AMD is going to be in both the new xbox and sony next generation gaming consoles, as well as the new mac laptops? Gaming consoles get released in November, I'm not sure about the timing new mac laptops though. I do know that AMD will catch my attention with a pullback to the $3 area though leading up to the new launches. Below $3 looks even better if it can get there….
From an elliott wave perspective, AMD appears to be forming correctives waves a-c during this pullback. It is not exactly clear where it is in this process yet, but I will continue to look for more chart clues over the next few weeks to try and figure out exactly where the bottom is for my potential buy in. I have a feeling it may end somewhere around the green trend line or the 61.8% retracement line, time will tell.
EDIT: You may also want to see my AMD update from 1 month ago if AMD is of interest to you….click here….and look for the entry dated 7/29/2013