Intel Corporation (INTC) Message Board

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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: P.Prazeres who wrote (6407)	12/14/1996 4:51:00 PM
From: jack c rains	of 186894

Paulo, I agree with most of what you say - although I'm not sure that 99% is the correct figure. Certainly, that number is better attained on the upside breakouts than the downside breakouts. On the downside breakouts, they aren't always filled. I have in mind the gaps made on the downside during the 1929 Crash. Also, there are many companies now on the exchanges or who have been on the exchanges that have dropped so much in price that to date over the years they have yet to close those gaps. And, some never will as they have since went into bankruptcy and are no more. This is particularly true of a good many past IPOs. Your put strategy is correct in the way that you employ it. That particularly large gap by Intel on the last day as it made its present high was a exhaustion gap (in my opinion), which would indicate a retracement of some magnitude was forthcoming. How far down it goes remains to be seen. In a worst case scenario, I could see it going back as far as 100 but better case scenarios would have it going back no farther then slightly above 115 where its moving average line is uptrending daily higher; 125 or 129-130 areas where Intel has some support; or even where we are now located we could get a "bounce." In any event, you are correct in saying that one should get out of any position quickly that is going against that which one has. As for me, I am not willing to trade puts in Intel simply because there is so much good news coming out on it at any one time - which sends it up on large gaps and makes getting out of puts hazardous to one's wealth (ggg).There are other high priced stocks that can be played that will give one a little more time.IBM has been one of my favorites, but even it has to be watched closely. Good trading. Jack

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