AMD bottomed at $1.65 and began a Cycle 5 Wave sequence.
Wave 1 was normal and had a terminal point at $3.06
Wave 3 was extended with a terminal point at $8.00 (Over 400% of Wave 1)
Wave 5 was also extended with a terminal point at $15.55 (Approx 161.8% of Wave 3)
Wave 5 corrected with FLAT Correction.
Wave 5 now becomes Wave 1
The Higher Degree 3rd Wave has a projection of approx. $31.50 but since the lower degree Wave 3 extended over 400% of Wave 1 of the lower degree I suspect we will see the Higher Degree 3rd Wave to extend as well.
I like your thinking. And with a straight face. Seriously, this is the one I think I may be able to hold onto through the nosebleed territory. Fundamentals vs. INTC are too strong.