Intel Corporation (INTC) Message Board

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Technology Stocks : Intel Corporation (INTC)

INTC 36.66

+1.3%

3:59 PM EST

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To: Road Walker who wrote (38506)	10/31/1997 7:21:00 PM
From: Paul Fiondella	Read Replies (1) of 186894

Intel and the Market These are approximate numbers. Today and yesterday Intel approached the low end of its trading range for the week. On Thursday it went to 75 3/4 and on Friday it moved down all day from the 78 1/8 opening to a low around 76 3/4. The low end of its trading range remains 74 3/4 Monday. Intraday the Tuesday AM drop to 69 was too brief to establish a range. Both Thursday and Friday it moved down from the open. To show you optimism, today in premarket they moved the stock up 2 1/2 point and it dropped back towards its Thursday close. Apprarently everyone wants a piece of this stock anyway they can get it including cheating the retail customers. This persistence in Intel moving downward now probably means we will see a test of the lows next week. It simply hasn't found a stable trading range and it definitely rejected trading in the higher 78 plus range today even when it was given the opening markup boost by the marketmakers. They all thought the stock was going to go to town!!! Meanwhile I've notice that the K6 200MMX is moving into the sub $1000 PC's big time. Summary: Intel is showing real strength but having not found a tradingrange at the 78-85 area will retest the lows and look for a lower 70's range. Adverse news such as the inevitable truth about the OCt-DEC quarter has yet to be figured into the INTC market price.

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