$AMD update, why technicals matter I watched $AMD
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$AMD update, why technicals matter
I watched $AMD for a possible bounce at 4 dollars but very quickly withdrew the play upon the close below 4 bucks.
http://investorshangout.com/post/view?id=98560
Bottoming play setups are great risk reward when managed properly because price can rip quickly as shorts cover and/or get squeezed and create momentum for follow on trades. However, this is a game of catching a falling knife right on the hilt and the execution has to be precise on entry and exit.
As you can see in the chart below, 4 dollars did not hold and price continues to move lower. With impending market weakeness expected, I will not be looking for bottoming setups in the near future and will instead be looking for short trade setups.
[IMG]http://i.imgur.com/jes3R.png[/IMG]
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