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Politics : Idea Of The Day
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To: Judy who wrote (15697)12/17/1997 6:20:00 PM
From: Tom Trader  Read Replies (1) of 50167
 
>>TT, INTC closed at a key level today and is within a few points of a first entry level. What would be your successive entry points for taking partial longs on INTC? My points are 65+, 57+ and 47+.<<

Based on weekly charts, support at 68+--which I think will be taken out; then at 62-63, 50-52 and 37-39. I own enough INTC and so will not add unless it get to the high 30s--which I don't think it will. There is support at the 68+ level but I not advise buying at this level without downside protection because it could break quite quickly. I think the 62+ level is very doable and if the market cooperates you could see 52-- fib suggests 62+. You could buy at that level without puts to protect you. If you are looking to use LEAPS to build a portfolio that includes INTC you could look at a ratio of 1 at 68, 2 at 62, 2 at 57 and 5 at 37+. But in any event, any long term investor who does not own INTC should look at dollar cost averaging into it at these levels.

>>btw, JBIL and DELL are still there for the picking, my dear.

JBIL I will do something soon -- probably sell some in the money calls. DELL is ripe for the plucking--divergences galore on both the daily and weekly charts -- but I not sure that I can maintain a detached attitude to DELL--if you get by drift-- so I may pass on it.

Talk to you later, my dear
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