INTC so far has been always victim of its own success. I totally agree with you if you remember I had touched on this issue somewhere in the begining of this INTC shortfall story. I think INTC has all negatives hit the market one after the other, anything positive would take INTC 15$ in a day.
Groove & co are class act, they have dampened INTC earning expectations, this has taken a lot of pressure of their back. Don't forget $ positive impact on earnings. Even minnows like AMD and CYRIX are presented by Groove as a major future threat, let me tell you one thing, INTC has a stranglehold on the world CPU market.
Their market share is not going to be threatened by anyone, further price cuts in pipeline will make life even more difficult for competition. So, with so many negative built in the market even a slight positive will take this higher. Do you see SOXx stubborness to move above 311.8 without INTC it just fizzles out, and this is good atleast others semis are not being pushed higher.
INTC has two clear chart patterns either it moves upto 170$'s after next earnings or break and go down to 120$, this is a more complicted chart analysis and I see it possible if only there is a debacle in the market. At these levels, if ever reached, you will be at the cross roads to make some fastest money in recent memory.By the way I see 170 more achievable than 120$.
Steve, you are well aware that I trade momentum up or down irrespective, for me the game begins when this trading range is finally blasted, I as you are well aware have forecasted a strong bias in INTC moving higher, its your choice on Aug calls. I will prefer Septs, I think after lot of volatility in Aug, Sept is a month of money. |
