Saturday, March 4, 2017

VDX Updates, Trader's Outlook and $600 million sell order on AMD....03.04.17

The VDX updates continue to cycle with great regularity although the TLT situation could turn precarious if we do see a March rate hike and the yield curve jumps.  Best to keep on eye on 117 lower support...if that breaks then the next support level is a ways down.
Trader's Outlook is neutral for this week with a few caveats as Goldman advises buying puts for the second half of 2017. Since SPY has already reached the Ponzo mid year forecast levels it can be argued that the markets have gotten ahead of themselves and are due for a pullback.
Of some interest for regular AMD traders....(I'm one)...Friday started out badly for AMD as Goldman opened with a $600 million sell order (45 million shares) at $13.70.  The chart below tells the tale as the sell order was filled in the first 30 minutes and AMD gradually sank into the 12's before an afternoon stabilization ( not recovery) on massive volume.
A couple more orders like this and AMD will be back to the 11's.