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Technology Stocks : Intel Corporation (INTC)
INTC 50.59+4.9%Feb 6 9:30 AM EST
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To: Paul Engel who wrote (29046)8/13/1997 10:31:00 AM
From: vinod Khurana   of 186894
 
Hello Paul, gaps left behind many years ago do not get filled unless the company is close to chapter 11 which INTEL is nowhere close to being.
The fact that many gaps have been left over the last month confirm that the stock will eventually come back down to fill at least 50% of them if not all.
With todays strong opening, it left a gap from yesterdays close at $95 3/8. The stock is about to break $95 3/8 anyday now. Just look at the market cap. of this stock and you will see that adding over $50 billion in one month is too excessive. The big institutions will not buy companies at these valuations...at this point it is the speculators pushing up this stock.

Look at what is happening to Coke...its market cap. exceeded $170 billion a few days ago and since then, it has dropped just over 15% within a matter of days. The Wall Street Journal yesterday ran a column in the heard on the street section telling us that institutions are refusing to buy coke stock because of its high valuation.

If the institutions fail to buy a stock because of its high valuation, you can be sure it is about to tank because small players can never
keep the price up without them.

V.K

P.S I just picked up the Sept. 95 puts at $3 3/4 this morning when INTC rallied to $98. Looking forward to selling them at between $7 - $12. Happy trading.
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