On the left hand, the daily AMD chart and even that has to come below 4 again soon, although they had good results yesterday and fundamentals look good financially with the Arab investors.We are in the final part of wave 5 but a dip to 3.5 is likely still.
The overall market is dominated by Option expiration with huge volumes being traded recently. So they try to hold markets close (SPX 950 is the point for example) to let them expire at certain values. Warren Buffett is stepping up, claiming publicly that he is buying stocks- that may be meant well but still he talks his book, as we say. In (Investment) banks, they ask employees only to speak positively about the markets, so they try to build up an artificial positive spirit. Warren Buffett was calling markets cheap at 1250 SPX - now we are 25% lower. The other problem is that Buffett is a value investor and creates the idea that the levels, which soon will deliver buying opportunities, will be good for (temporarily) rising markets (but its only trading), hence investments. So handle with care and think for yourself - do not rely on any one.
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