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Technology Stocks : Intel Corporation (INTC)
INTC 35.81+0.2%Nov 25 3:59 PM EST
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To: Jim McMannis who wrote (125251)1/17/2001 1:32:15 PM
From: GVTucker  Read Replies (2) of 186894
 
All during the bull market, Intel would trade strong all quarter, so much so that when earnings would come out, the market was bound to be disappointed in the short run. The stock would gap down, and then start its normal march upward again, sometimes the same day that it gapped down. The next quarter it would gap down again, albeit at a higher level.

We're looking at the inverse now. Go back to last October when earnings were released. The stock stopped a downward spiral and gapped up, as the market has discounted horrid earnings. The relief rally ended, and the downward trend resumed. Today, the stock is at a lower level than then, and we get the gap up on the open even though earnings were horrid.

Many say that the stock trading up on bad news like it did this morning is good. Same thing was said back in October when the stock was in the high 30's.
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