Barry,
Nice move in INTC, up most of the day in a down market. Close above 85.
From my perspective, it looks as if INTC will go on to new highs. I would have liked to see more volume today, and the market is funky and all over the place. I'll be more comfortable with another day of higher high/higher low and a higher close. But I did cautiously add to my long position in my trading account today.
Of course the biggest worry is that, with the run in the NASDAQ, the expectations are so high, any disappointment will be magnified. When the sentiment is so strong in one direction, and it turns (as it always does), it can be pretty ugly. But Intel will hold up better than most when the correction comes.
I noted that Intel's trailing PE is now over 40, is that an all time high? If so, it is well deserved, overdue.
John
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