Bill,
As you are an RR I remind you of December 1995. Intel was at 52 (pre-split) at the time and everyone was negative on Intel. Tom Kurlak that month issued a report saying that he thought Intel could go down to the low 40's. Sure enough INTC sold off to 49 the very next day. The so called, "Intel axe", had struck again. However, as I recall, that was the last time INTC saw prices in the low 50s. By the end of Jan. INTC was @ 60, Dan Niles of Robinson Stevens had been the first to issue a buy recommendation on INTC. A week later Jim Barledge of Smith Barney had followed Dan's lead. It didn't take long for everyone else to follow, except Tom, he, as I recall, issued his Strong Buy recommendation some 6 months later when INTC was by that time @ 82.
I remember it well because in December 1995 I had just loaded up on Intel two days before Tom cautioned. On Monday of this week, BTW, I loaded up on Intel Calls. While I did later cut back on Wednesday, I was able to lock in profits and bought more IBM Puts with the INTC Call procedes.
This last week, by the way, Robinson Stevens put out a Buy recommmendation on INTC. To the best of my knowledge, once again, only Dan, me, and Paine Weber have strong Buy recs.
As always, I reserve the right to change my mind at any time, or to be completely wrong. The reader should therefore, do his/her own homework.
Jules |
