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Technology Stocks : Intel Corporation (INTC)
INTC 39.36-0.1%Jan 5 3:59 PM EST
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To: Mary Cluney who wrote (75906)3/9/1999 4:28:00 PM
From: Paul Fiondella   of 186894
 
Psychology of the rumor mill

The dramatic 20 minute sell-off was a sell on the rumor of an Intel pre-announce.

It's purely an issue of Intel credibility at this point vs market rumor. A lot of big investors have sold their tech stocks and realized profits. INTC hasn't been knocked down enough for them to buy back in. THose still holding the stock are getting worried by all the rumors. They are ready to sell at the drop of another bad earnings rumor.

SO it becomes a question of Intel credibility.
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