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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 677.58

-2.0%

Jan 20 4:00 PM EST

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To: Tiley who wrote (20106)	3/4/1999 9:27:00 PM
From: Clint E.	Read Replies (1) of 69914

Hi Manish. Looks like a good move by INTC. BRCM and PMCS should go up in sympathy tomorrow. What a misfortune. I am inclined to think that going home flat every day is the way to trade these days. So what's your plan now? I guess it all depends on what you think of INTC and where INTC goes. Assuming a range of 100-125 in INTC, LEVL has a range of 43-54. You have suffered most of the damage overnight. If it was my decision, I wouldn't worry about a few dollars difference between tomorrow's 48 open versus a possible drop to 43 if INTC ever tanks to 100(which I doubt). That ~2X premium paid by INTC is going to shield LEVL and work against you. Take care; Clint

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