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Politics : Idea Of The Day
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To: Jerry Olson who wrote (17989)4/16/1998 11:49:00 PM
From: IQBAL LATIF  Read Replies (1) of 50167
 
The last time Kurlack downgraded INTC we saw a steep decline from 93 to 70 the major support-- by Jan we saw it creeping back up until INTC warning and we saw it reversing from high of 92 - so we sitting on the other side has mixed bag of fortunes. Going forward I co-ordinate my actions with TXN and find that testing 40 post Kurlack dimal warning on prospects of semis- where is TXN now or for that matter LSCC or LLTC- the 11000 reluctant client and huge herdish mentality which prevails the street one fine morning will realise the turning fortunes of SOX or TXN.To dismiss the entire prospective Tech sector and major stocks I think is a point where me the small man will disagree and continue to do so. I will understand this game only in terms of getting in cheap but his and his clients cannot get in TXN at 40-- we are going higher. That is small point which I like to make.

Nearly every one is looking for better second quarter-- TXN is rocketing up taking out 58 as first resistance- If SOX breaks out 310 I think we will see INTC back up to 80- 85$ this is the range-- For me this is a great stock to own and if I have to trade I will not over look changing views of major companies going forward-- here I will put caution aside and purely dismiss charts- I am looking for a fundamnetal shift and hopefully if we stay above 301 I think we may be already in it. I agree with you this time if it breaks it may go done to 280 but in view of good earnings so far I doubt we will see that. One needs to take advantage of softness in Techs.
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