INTEL FOR TECHNICIANS Message Board

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Technology Stocks : INTEL FOR TECHNICIANS

INTC 41.34

-0.4%

Oct 29 3:59 PM EDT

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To: J. Kerner who wrote (1487)	7/19/1997 1:09:00 PM
From: saul mikaliukas	of 1513

Basing or Distribution?????????That's the real question!!! If you take a look at Intel's daily and especially it's weekly chart, I certainly don't see a basing pattern. Even before the split there was an enormous amount of distribution going on at the highs of the past few months. This upside breakout you speak about is just a post split/earnings euphoria move to ridiculous price levels giving the stock specialist a final mass shorting opportunity before hitting the stock downward. Now, I am not saying that Intel's move up is over in this bull market, what I am saying is that Intel's price, post split is overdone at this point in time and a downside move is inevitable. The real question is not when but, how much? Finally, I believe the move will be sooner than later and not being a pig I would take a move back to 75-80. Have a great day!!!

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