INTEL FOR TECHNICIANS Message Board

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Technology Stocks : INTEL FOR TECHNICIANS

INTC 40.13

+2.0%

2:58 PM EST

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To: xstuckey who wrote (1370)	6/4/1997 6:45:00 AM
From: Jim Cash	of 1513

My 2 cents.... Based on yesterday's close, I think 140 will be tested in a very short timeframe possibly as early as this morning... At that point, I'd be looking to go long for a TRADE of 1 - 3 days.. If we don't get this move to 140 than your strategy looks good for a move up to possibly the 155 area tops.. We will know by 10:00 am today if the 140 test is coming... Longer term, things are very ugly. The daily and weekly charts are negative and it appears that selling rallies will give us the most profit potential. It is clear that we had a double top. The bearish divergence on MACD was our warning shot. Most people ignored this warning. At this point I have no position in INTC. I got skinned last Friday on Jun 160 calls but recovered most by buying 155 puts on Mondays retracement. I closed yesterday morning (probably too soon). Good Luck

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