Intel Corporation (INTC) Message Board

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Technology Stocks : Intel Corporation (INTC)

INTC 48.26

-0.7%

Feb 5 3:59 PM EST

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To: jmac who wrote (6537)	12/17/1996 12:37:00 AM
From: jack c rains	of 186894

Jmac: If we rebound from here, then you have a chance on the long dec 130 calls - where there is now a resistance point. Unless we get an all out rally in here, I don't see much chance for your dec 135 calls - unless you have just bought them lately when Intel was well below that strike. I had previously put on the Intc-Bounce BB on Prodigy before coming to SI that 130 and 135 strike prices were the best chances where the Intel option MMs might bring Intel down on expiration day this month. Although I believe there is a small chance for the 125 strike, I'll stick with what I've said previously. ALL: I've checked the schocastics of the Dow, S&P, and Nasdaq - and the Dow and S&P are as oversold as they have been all year - even at the July lows. The Nasdaq is in the lower portion of neutral zone and still has some ways to go to match that same period. The 3 indexes have either broken their 50 day MA lines or in the case of the Nasdaq is setting right on it. The last time these broke the 50 day MA lines and closed significantly below them that day, it resulted in the bad correction that eventually ended in July. Intel has broken its 5 and 10 day moving average lines as well as its major trendline and is now setting virtually on top of its 20 day moving average line at today's closing price. Intel has broken several support areas including the 133 and 130. The 125 price is next support and then it's 119 1/4 to 119 1/2 support. Intel's 50 day MA line is coming up and is now in the vicinity of 117 but coming up quickly. We need to get this baby turned around tomorrow to the upside. Not just Intel but the indexes also. Re the discussion of closing the gap of Intel back in the 80 plus area. In my opinion, we will not close that gap until the next bear market. The absolute low that I see with an all out really bad correction here such as we had earlier - is at 100. All for tonight. Good trading. Jack

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