Berney, only time will tell re: head and shoulders. People like Ron 'Insanea' on CNBC love to believe that stuff, and espouse it as if it were gospel. Here is my situation assessment:
At the moment, the Intel doomsdayers (who have been prepping the battlefield since about 8 May) are having their way.
Last week I assaulted INTC (my natural nemesis since last October when it got the better of me ) determined to conquor and overcome the SOB. My initial entry point was 71 7/16 last week, when I thought they were most vulnerable and would surrender a profit.
Today, I am able to report from the front line in a hugely bloody battle that I have captured another 'bandoleer' of INTC and it is in my arsenal at the price of 66 13/16.
Today, the reason that I bought was because I believe that it was a buying opportunity -- maybe I'm a bit shell-shocked, don't know. Why do I think that it was a buying opportunity? Well, so much has been so negative for so long, with such an ugly effect that I felt it was time to get back in. As Jury said, the fundamentals of the economy have not changed. Further, last year we had the same scare: Lack of computer demand -- yeah right, and look where we went. I'm looking for brokerages and certain analysts to come to our aid forthwith, and encourage the masses to ally and overcome the enemy that is fear. I'm looking for upgrades that will strengthen our positions.
Mind you that I don't establish new positions with companies that are questionable. Intel is a 'super-company' that certainly has not yet and will not in the near future breathe its dying breath.
So, I raise a toast to my comrades in arms, and drink to those who so cheaply gave up their stock this week and last.
I smell victory!
it
(for those who have served their country as I did for 15+ years, I don't use the above phraseology in any way to disparage your commitment to your country. After today, it sure felt like a battle).
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