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Technology Stocks : INTEL- Money Making Option Ideas for Small Investors
INTC 39.99-0.4%Oct 31 9:30 AM EST

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To: Steve W. who wrote (74)6/23/1997 7:52:00 PM
From: IQBAL LATIF   of 201
 
INTC and S&P weakness- what next- bloodbath or reversal-

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

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To: +xstuckey (1078 )
From: +IQBAL LATIF Jun 23 1997 7:44PM EST
Reply #1079 of 1079

I am waiting for trading tomorrow, would like to see what happenswith the market, S&P now sittting on @) days will take this out probably, this will take market lower in short term, but underlying realities dictate that such weakness should be confirmed with stagnant earnings, that is not the case and so far earnings announced are in line, so it will be a correction rightly needed.

INTC technically is a big sell but as you must have noticed yesterday I am a buy until it breaks my limits, let me put a little spin to market weakness in favour of INTC, why INTC did not break 145 ,a medium resistance, moreover why SOXx maintained strength in face of massive sell off. It may be a sign of underlying support but SOXx is not going anywhere until this S&P straighten out, so I willl now watch and add a new leg to SOXx INTC i.e. S&P watch, although it is not always linked like it was not today, but you cannot ignore for long drop in S&P, it will effect the techs sooner or a bit later.

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