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Technology Stocks : Intel Corporation (INTC) -- Ignore unavailable to you. Want to Upgrade?

To: Tenchusatsu who wrote (93538)	12/8/1999 4:39:00 AM
From: nihil	Respond to of 186894

It's late at night, and I think I'm standing on an earthquake fault. With the performance of semiconductors and the updraft of the NASDAQ I looked at the Intel and and Micron charts (http://www.easystock.com/tkchart/tkchart.asp?logo=&home=/default.asp&banner=&stkname=INTC+NSM+AMAT+MU+TXN+MOT+ALTR+XLNX+KLAC+IDTI) and they look like an impending breakout from pennants. If Intel and Micron break out to the upside this could turn into a real blowoff -- a thousand NASD points or more before the breakdown. If they breakout to the downside the game is up, and there could be a huge retracement. Everything is "overpriced." I am thinking of selling almost everything and replacing it with 2002 LEAPS OTM short puts and long calls and cash (in part as margin for the puts). If the stocks go up, I'll leg into bullish call and put spreads (legging out if the stocks drop as close to the bottom as I can guess). If they drop soon rather than continue running I'll just wait it out. In the two year period, the greater danger is being out of tech stocks. In the short period (3 mo.) I think the risk is being over-invested. I tried something like this last year, and made some money (137.5%). (of course, I had some QCOM (14z) and SUNW (6x)). What have I missed?