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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 681.92

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Dec 31 4:00 PM EST

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To: Johnny Canuck who wrote (40829)	3/12/2004 3:55:28 AM
From: Johnny Canuck	Read Replies (1) of 69358

12:19PM Buy Intel for 'quick trade' up to about $30: M. Stanley (INTC) by Tomi Kilgore NEW YORK (CBS.MW) - Morgan Stanley technical strategist Rick Bensignor said that while he has been negative on Intel (INTC) since it "double-topped" near $35, he is now suggesting buying at current levels "for a quick trade" up to the $29.50 to $30 area. The stock was last trading up 15 cents at $27.46. He suggests setting a sell-stop at a daily close below support at $26.07. "Clearly this is not geared for investors, but for those inclined to play against a technical level that we believe is significant in the very short-term," Bensignor said in a note to clients. The "double-tops" Bensignor referred to are the Nov. 7, 2003 high of $34.51 and the Jan. 9 high of $34.60. On Feb. 6, when the stock closed at $30.88, Bensignor suggested the stock might fall further.

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