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Technology Stocks : Intel Corporation (INTC)
INTC 50.88+5.4%12:04 PM EST
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To: Raymond Thomas who wrote ()5/22/1997 12:28:00 AM
From: IQBAL LATIF   of 186894
 
INTC trend- I posted this on my thread 'Idea of the day' I thought you guys may like to comment:

Subject: "IDEA OF THE DAY"-Trading in&out for profits.

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To: +Matthew B. (379 )
From: +IQBAL LATIF
May 21 1997 11:03PM EST
Reply #380 of 382

Matthew: Strange I exited my INTC JULY's 165 yesterday I had bought them day
before for 65/8 and got out at 93/8 the reason was that I thought INTC is going to
move pretty quick up once it takes out 165 resistance that was not to be, I had a limit
order to purchase long June's 165's calls by selling June 165 puts, this kind of trade is
a rarity but my model signalled that RSI MACD STOCHASTICS all point to a
breakout if it takes out resistance and closes above.
So where does that leave us with your question I prefer to run out of money nearest
calls on stocks like INTC once they are deep in money whats the point of putting so
much on the table for tick to tick return. Moreover you would loose lot of premium
anyway due to lack of leverage, option trading is all about leverage so if you are lucky
to find a good story go for nearest month and cheapest closest call like I would suggest
June 170's will give you a great play but only if INTC decisively breaks 165 and closes
above it.Cavaet is that most of good traders would anyway know the points of
entry,so by the time you get your fill your profit margins get kind of squeezed.

The advantage of disciplined entry far outweighs profit set backs, lets take the caseof
Intc if it will not take out 165 my model indicates that it should visit 158$ level where
you might be able to put even June 165 calls.Anyway INTC is destined for heavens,
put a trade relax and enjoy your bumpy ride.

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