Intel Strategy for Achieving Wealth and Off Topic Message Board

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Technology Stocks : Intel Strategy for Achieving Wealth and Off Topic

INTC 36.78

+2.7%

Nov 26 3:59 PM EST

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To: Sonki who wrote (13601)	11/26/1997 3:24:00 AM
From: TechnoWiz	Read Replies (1) of 27012

Hi Sonki: IBM...Continued...as I became more and more of a snorting bull on Mexico, I remember reading an interview with Michael Milken in Fortune where he too espoused becoming heavily invested in Mex. Reason, there were so many negatives at the time, but the market kept moving higher, totally ignoring any bad news. Result: Mex market tripled in Peso terms in 2 1/2 years and went up 2 1/2 times in dollar terms. The point I am trying to make is that a similar situation could be said to exist in relation to IBM today. The last consolidation in IBM which now looks like 65ish (was actually 125 - 130 pre-split), propelled IBM from 130 to well over 200 in only 3 1/2 months. (65 - 109). A significant breakout of this range could be equally as exciting as I actually have a potentially more powerful buy signal that would develop, if things do in fact unfold along these lines. Could be a lot of folks short too that would help things along... I think I already mentioned before on this thread, that I did actually buy IBM at around 41 1/2 back in the '93 crunch and assuming I held it (which unfortunately I did not in this instance) all the way to $130 and then called my broker and asked him to triple my position at that level, he would have probably thought I'd lost my marbles... But as we now know, it would have turned out to be an astonishingly good buy. I am kind of getting a similar feeling about the same sort of potential of a large move to the upside, that I got back in April with IBM. Remember, the Dow has to go to a new record high before this market can put in an "Orthodox Top" at a minimum and something has to lead the way. It's already put in pretty stellar performance recovering from its test of 7000 and IBM did not really move much for most of that move. Now it looks like it's started to move... Personally, I would not sell IBM unless it were to break below 95. Kind regds Wiz

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