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Strategies & Market Trends : Tech Stock Options
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To: Arik T.G. who wrote (31392)12/17/1997 12:43:00 PM
From: Muizz M. Kheraj  Read Replies (2) of 58727
 
Arik,

I think you're dead wrong with your read on Intel there. It is holding solid support at 71. Yes, it is wavering currently, and did slip below a few days ago, but I think what we're seeing here is Institutional Accumulation. I think we see 80 before the end of the year and 100 by June 1998.

The Nasdaq itself held onto key support on Monday at 1525... I see nothing that leads me to believe that we are headed back to break that support level. Rather, I think once the accumulation has been made, we will head north to break resistance at 1650.

Muizz
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