Rod, Barry and all Bulls,
I am not excluding the bears, I just feel that those who are long may want to hear my concerns answered from their perspective.
First I'd like to say that I am long and I'm a TA, the only FA I know about INTC is that it's as sound as it gets.
With all the above said, I think that looking at INTC chart one can get concerned. The long and intermediate term are in monster uptrends but the short term is in a down trend. Normally, this would not concern me but with the markets teetering on a correction one cannot feel that INTC will suffer if the Nasdaq would to correct another 5% or more. If that were to be the case, INTC could correct another 20 - 40 points. The good news is that if it were to happen, INTC would not be hurt technically and still can be in a position to retest and exceed it's previous highs.
I sincerely hope this does not occur, INTC is a security that is very hard to hedge against, it can turn on you on a dime. I am just concerned that if the markets go, so will INTC.
On the other hand, maybe INTC will save the markets...
Regards,
Jerry |
