Intel Corporation (INTC) Message Board

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Technology Stocks : Intel Corporation (INTC)

INTC 47.14

-2.3%

12:35 PM EST

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To: Madpinto who wrote (8793)	1/20/1997 12:06:00 AM
From: jack c rains	of 186894

Michael, thank you for your most gracious offer to answer specific questions. I appreciate that and agree that all have something to offer to this BB. While we may often disagree between ourselves, we can do so in an agreeable manner. All: I'm looking for a momentary pullback in the markets early next week. This pullback can take place either intraday or extend over another day or two. However, I'm also looking for a much bigger intermediate correction to take place after IBM and the major tech stocks have released their earnings. The timing for this could take as much as two weeks to develop fully or the first tinges of it could start very soon even after IBM's announcement. As far as Intel goes, it must hold the 139 to 142 support area that I put on here way way back. It has bounced off the 141 1/2 price several times recently and held. A break of this price and subsequent breaking of the complete 139 to 142 area might signal an intermediate correction coming in Intel which at a minimum could carry it to 125-126 area. But, for the time being as long as it is holding above these early supports, everything is okay. If instead it can move upward, then the 149 3/4 price becomes the main thing for Intel to move through before it can go on. It will be interesting to see how MSFT plays out on Monday. Too much weakness in it and Intel and the other large capped tech stocks particularly could be pulled back with MSFT. There has been much discussion on this BB about Market Makers. Some of the replies have really been great. #8790 particularly was quite lengthly but had a lot of appropriate information contained within the note. It's always nice to have a BB where the issues can be discussed - from both sides point of view. Good trading. Jack

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