Robert, Evan, Autumn and All: Yes, options will expire while stock at least can be held for eventual (hopefully) move up (after things go wrong - down). Evan, you did smart thing rolling your other calls over to the 145s. At least this way you took most of the money off the table and put it in your pocket. A profit is a profit. The only thing that I might have done different would to have rolled into another expiration month, thus giving you a little more time to deal with the MMs and their games around expiration time. See my full information note below as to what can and has happened in the past. Autumn, there are many who advertise in IBD newspaper who are willing to give you information and help day trading. As for trading INTCW, it can be done successfully day in and day out - especially if your broker is one of those $11 per trade brokers. JMAC: When you are nervous, I think it is the right thing to do to move out of something at least partially (of all your holdings), thus not making you as vulnerable.
Board: MONEY TALK Topic: STOCKS
Subject: INTC-BOUNCE
TO: JBFU69A
All: Well, we had plenty of dips and rallies today
in Intel. I sold out half of my Intel. In the type of
markets we have right now for the past couple days
especially, when you get some points you almost have to take
them - because you will probably get a chance to buy back
one or two points lower even intraday. I'm not so sure about
the B2B. I almost feel like I have more to lose than gain.
And then the unemployment report will be out that next
morning anyway. Plus Thursday we have the PPI which if
negative for the markets would cause them to sell off. Then,
you have to wonder if Intel's earnings have already been
built into the present price. Think what the MMs can do with
this. Everybody not only on Prodigy but on the internet BBs
are looking for higher prices for Intel. Maybe so, but
things could work out the opposite way depending on what all
the numbers are of these pending reports and earnings. The
MMs can open Intel and the other stocks down a couple points
or more just as they can open them up. I recall back when I
was ambushed quite some time back in Intel. I had sold out
positions near its 78 plus top and it fell back about 4
points and earnings was due out after the close. I jumped
right back in there and the earnings promptly came out flat
to what had been expected I guess and Kurlak of ML made a
negative comment and Intel the next day opened down about 6
points and sold off one or two more points before it
rebounded about 3 points or so. I was waiting for that rally
back some and sold out on it. It then turned and moved back down
some. That gap was not filled for some time as Intel pulled
back all the way to 57 area before going back up to
ultimately split. It just shows you what can happen. So,
again, I wonder at this point if it is really worth taking
any chances unless you get a good pullback here.
Meanwhile, many of the techs sold off badly and ended up the
day either on or near their lows. The overseas markets are
starting out tonight not all that good. The scochastics
for this evening indicates that all of the major indexes
have come back down through the overbought line - which is
not characteristic of these when we have had a true
breakout. If you think about it, most of the major indexes
really didn't close all that high (if at all) above previous
intraday all time highs. The S&P, for instance, has failed
to go to new highs. Plus, this evening on the news MSFT has
not exactly had bullish news. The lows and highs of today
will help to indicate to you if we are still in an uptrend
or we have started another downtrend - albeit a short one.
Personally, I have church committment tomorrow morning and
on Friday I take my son to Florida for a little vacation.
What with the B2B, PPI, and unemployment report all due out
and known by Friday morning's opening - I think that I will
just stand pat with what I have, especially if neither the
lows or highs are exceeded in Intel. The resistance is
today's high and the support I would want to widen that area
out to include 39 to 42 area. I know this is a lot of
leeway, but in any real selloff, 42 or even 41 could not be
expected to hold. Where Intel is at by end of week will give
you some clue as to where MMs are going to bring it down on
as far as options go. Right now, we are looking at 140 or
145 at most. We could make a case for 150 only if we go well
beyond the 145 price and even then the MMs may pull it
back all of a sudden giving nobody chance to really get out
at the right time. All for this evening. Good trading. Jack
NOTE: Prodigy Mail having problem - may not be able to answer today |
