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Technology Stocks : INTEL TRADER
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To: Berney who wrote (1764)1/15/1998 4:45:00 AM
From: MonsieurGonzo  Read Replies (1) of 11051
 
Berney; RE:" INTC battle of the bulls and the bears..."

Berney, INTC has broken a major DownTrend line this week, and it is normal for a stock to "pull-back" to a broken Trend Line and gather itself before proceeding on a new Trend.

The only UpTrend in INTC at the present time has a floor at about ~72.5 and a ceiling at about ~78, which is also the 200 day (exponential) Moving Average on my chart.

FWIW, I am expecting the NDX.X to pause around here; any rally should "spike" and be met by profit-takers for a few sessions. My current estimate of NAZ-100 resistance levels:

1038
1027
1006
1000
<<996,37>> last

I'd be surprised to see INTC hit ~72.5 again, but at present my GTC buy orders are spread out at 1x74.5, 2x73.5, 3x72.5, 4x70.5 and 10x67.5 triggers.

-Steve

PS - I'm flying back to Paris tomorrow and will see y'all next week.
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