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Technology Stocks : Intel Corporation (INTC)
INTC 53.98-0.5%3:35 PM EST
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To: who wrote (2130)7/11/1996 9:20:00 AM
From: dppl   of 186894
 
Steve: We're seeing this H&S formation through the NASDQ comp and even in MSFT. In less resilient issues (e.g. USRX) the neckline has been broken, strongly intraday and just now on closes.

The highflyers with good earnings and very high P/Es will be good shorts (VTSS, ASND) soon.

I am either selling INTC long positions today or selling covered calls.

Maybe the signals are ambiguous here but the mood is pretty bleak.

I wouldnt buy puts or sell INTC short now (there are many better candidates), but we all have to be careful.

good luck

dppl
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