Intel Corporation (INTC) Message Board

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Technology Stocks : Intel Corporation (INTC)

INTC 48.32

-0.8%

Jan 15 3:59 PM EST

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To: michael97123 who wrote (130266)	3/19/2001 8:45:13 AM
From: GVTucker	Read Replies (2) of 186894

michael, RE: I based 1800 on my belief that it is a form of gravity that pulls stocks toward the big round numbers. It happened on the upside as well. It sounds great in theory, but that doesn't work so well in practice. The Naz topped out at 5132. I suppose that could be construed as close to 5000, but that's stretching it. The Dow topped out at 11311. The S&P topped out at 1527. And if you look at a longer term chart, turning points don't tend to be big round numbers, they are at random numbers. For every turning point close to a big round number (Dow 1052 in 1973) there's a number close to nothing (Dow 2722 in 1987). I've said this a number of times, but it bears repeating. Predicting the direction and the turning points of the indexes is a fruitless exercise. No one on Wall Street has ever done it consistently, no newsletter writer has ever done it consistently, anyone with a verifiable track record has not been able to do it consistently.

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