Intel Corporation (INTC) Message Board

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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: P.Prazeres who wrote (9371)	1/26/1997 11:58:00 PM
From: jack c rains	of 186894

All: Those puts have really worked. Now, what is ahead? We should get a short turn up either tomorrow (Monday) or Tuesday at the latest. This could become a split market with the Dow performing better than the Nasdaq. I would expect the Nasdaq to fall more on a Dow equivalent basis (1 point = 8 Dow points) than the Dow itself. Just as I forecast last March/April in my analysis that in the forthcoming correction within the following 1-3 months the Nasdaq index would fall harder than the Dow, I would think that this would be the same situation again this time. Again, we will get our bounces, but I expect them to be short lived. Nothing has changed on my support and resistance levels for Intel. Early support is still 149-152, which we are within right now. Any fall below there that gets through 147 should take Intel all the way to the next support at 141 1/2 to 142. Resistance for Intel is 154 5/8 to its all time high. Good trading. Jack

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