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Technology Stocks : Intel Corporation (INTC)
INTC 50.59+4.9%Feb 6 9:30 AM EST
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To: Kelvin D. Nakamichi who wrote (6499)12/16/1996 5:07:00 PM
From: P.Prazeres   of 186894
 
Open interest on the dec 125 calls is around 10260 with 2741 contracts trading today. Note that last thurs or fri, it had an open interest of 12387...so in my opinion some unwinding is already going on.
As to wondering if they are that greedy. I think driving it to 120 especially in the last 90 minutes of a trading day won't be difficult at all. But stay there for long, it won't.

But having said all of that, I will be listening tonight to the "professionals" tonight on the tv to see what they make of the 24 point drop in the Nasdaq. This is starting to smell of a correction of some sort. But then again, Friday is triple witching, so there are alot of forces moving all these big caps. I noticed that my small cap holdings held up pretty well today...making me think that a rotation out of the big caps and into the small caps may be happening especially since the so-called small cap January effect is only +2 weeks away.

...so much to ponder over...

If you must know...I held off on any call buying today. I was going to do it if we had stayed near 130 but since we sold off, I think there may be a shot at 120-122. If we only see 125 and go up then I will pick up some on the way up.

I still think INTC is a great company and think that we will see a rally heading into the earnings release...after that...stay tuned.
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