I agree, INTC and the other big computer companies are going to need some great news to get them out of their slump (like great EPS reports, recommendation upgrades, even better product rollouts, etc.). We seemed to be heading in the right direction in late October, everything seemed to be going great. Then the bad news started coming, first, the downgrades along with the Cirrus Logic problem (who people don't realize sells lower-end items, and was losing out due to the demand of high-end machines). Then the supply-demand scare and price erosion ideas came back. All at once, many of these stocks, which just a few weeks ago were poised to make new highs, are now at, or in many cases below critical support levels. How things have changed.
I think Intel may get locked in another trading range, because every time it begins to go up, people will sell, just like from the end of July until mid October. |
