Ben, just made this AM ~ 1230, my last big INTC buy at 92 3/8.
I have now completed allmy INTC position that I planned.My reasons:
-Editorial in the WSJ this am by Mickey Levy Re The Bull market continues
with which I fully agree for the same reasons ( all known ).
-relatively low volume on INTC in spite of all " the bad news,TK etc "
and in spite of turbulent market, INTC held at 91 3/4 ( same as last
" Black INTC Monday ", gg.
-One more big, liquid,capstock has fallen: GE removed from Salomon's
recommended list.KO new low this AM. Buffett " jumping ship?" gg.
-Neg article WSJ this AM on Sun Micro/Java, front page;[(required readig
for Vinod K (gg)].---> Java too slow.Most new firms/IPOs to do Java (100
are also doinf MSFT. Too many glitches. It's like using a translator:
slower.
-The most important is the SAP/INTC deal: Pandesis Co. Barron's last year
I believe had a wonder full review of SAP: a tornado. With INTC
movinf into servers (growing @ 300%)they will by pass the box/Net work $500
computer threat from SUNW and go right into servers,with 8 parallel cpus,
wow!!! a mainframe in your office!! turbocharged with SAP!!!.Going to be
hard to beat.
-All th eforthcominf news with iNTC next week.
-People( fund managers0 will return tuesday and decide where to spend
the checks that came in last few weeks of vacation: how many leaders
are left? Only Intel;I t is the only one that has not been downgraded.
The market I believe no longer considers Tom kurlak's opinion relevant.
-Our eyes stsrting next Tuesday will be focused on the Oct EPS and Jan 98
EPS and they will all be good ( Merrill-Lynch analysis ).Market
to go to new highs.(Read WSJ editorial this am ).
IMHO, tomorrow will be the last day to buy INTC on sale.Friday INTC
will be > 96, as some smart investors/money managers will want to
avoid a)having to bid for the stock on Mon with all the crowd back
from vacation at higher prices, b) will be loath to go home for
the weekend barbecue knowing they don't own INTC.
I am now " fully invested " in " diverse stocks "Intel ( " a large cap
good growth ," and a small-cap" , Vivus, soon on its way of becoming
a "med-cap" , gg. What else would you want? We hav e large med & small
cap exposure, more heavily tilted towards better value small-med cap
just like Abby Joseph Cohen oredered!!! gg.
TA |
