AMD, Advanced Micro Devices

amd dec 17 2016 bamd dec 17 2016 s

In the Dogs of the Dow stock screen covering the last year there are 50 stocks, the second best performing one is with a gain of 319.7%, just behind AK Steel (AKS) at 374.0%. The reason I try to find these stocks is that I do believe that “what goes up, must come down”, the only question is when. In the case of it looks like that is now. Given the 5 wave up sequence a second wave correction should occur soon. These typically retrace much of the initial (new) bull run but normally do at least 50% or to the level of the 4th wave of previous degree, which is around $5.50.  An April 2017 $11 strike put option can be had for about $1.75 and should be worth about $5.50 or 3.1X. Ask your broker!