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Technology Stocks : Intel Corporation (INTC)
INTC 50.59+4.9%Feb 6 9:30 AM EST
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To: scott ko who wrote (4193)10/14/1996 9:56:00 PM
From: Fred Fahmy   of 186894
 
Scott,

I don't like trying to time stocks. Last summer when Intel was in the high 60's three of my friends asked me if it had run up too much and was it too late to buy. I said it's o.k. to buy but don't be concerned if it drops below what you pay for it in the shorterm. I said this thing could give back at anytime but your patience from this point on will be rewarded. They all bought at around 69. It went to 73 and then started south. They all watched it go down as low as 49 this spring. One sold earlier this summer when it got back to 60. The others two have long term objectives and have been well rewarded. I think 69 to 110+ is very acceptable for a 12 month investment. Keep in mind that these people are up more than 50% even though they bought near last year's high (73). One of these people added more in the 60's this year.

You could buy the stock tomorrow and it could be down 15 in a few days. Then again it might be up 15 in a few days. If you are long term oriented you shouldn't be too concerned about picking a short term bottom or what the stock will do immediately after you buy it. Lynch always said that if you buy a stock and it immediately shoots up or dives down, it doesn't mean a thing. It doesn't mean you're a genius if it shoots up and it doesn't mean you erred if drops. All it means is that right after you bought it someone was willing to pay more or less than you did.

FF
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