Barry,
Re. Byron Wein's track records, the following is the link that I somehow forgot to insert into my previous post to you:
exchange2000.com
Anyway, as you said, these analysts/pundits' opinions are not that important--not to me anyway. Sometimes they are good contrarian indicators if you have figured out where they come from.
Re. INTC's recent trading characterstics:
I, too, noticed INTC's technical parameters had improved. The following are just a few observations suggesting, possibly, a short/intermediate term bottom:
1) Trading range narrowing and volume drying up, typically a pennant formation poised to move--either up or down. But my guess is Up since Intel had repeated tested lower support levels before and successfully defended itself.
2) Volume is usually low on down days.
2) An seemingly orchestrated chorus of downgrades from secondary and tertiary brokerages. When they pile it on top of one another at a stock's bottom, it is usually the sign of a real bottom being put in. These greedy ******** are trying to shake loose the last shares from wimpy small investors.
3) Since INTC is now temporarily un-glamorousrs, the fund managers would not be too eager to show a hefty position of this stock on their Q2 report, and thus the window dressing effect for INTC could be negative until first week of July.
4) I would speculate that in early July, with the split and earnings coming up, INTC will rebound. If there is a positive eps surprise, INTC will rebound BIG TIME to the previous high.
Just my 2 cents.
Regards,
Ibexx
PS: I am staying pat on my sizable INTC/INTCW, simply taking the advantage of market fluctuations by getting 99LEAPS calls aggressively on periodic basis. |
