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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: J.T. who wrote (4707)	9/27/2000 7:25:39 AM
From: Wyätt Gwyön	Read Replies (1) \| Respond to of 19219

re: INTC action... thestreet.com Fidelity Investments put the word out from the get-go that it had Intel "for sale," according to traders who deal with the mutual fund giant. These traders understand that when Fidelity says it has a stock for sale, they are obliged to bid if they want to do any further business with the firm. So they did, and Fido hit the bids between $46-$48, selling millions of shares of Intel. (My sources estimate that Fidelity could easily have sold 10-15 million shares.) That was an unwise move on Friday because the stock rallied a bit on the day. But now, a few days later, those sales by Fido don't look so stupid, with Intel at $43 to $44 a share. (And by the way, those Wall Street firms were not loading up on Intel; mainly they were selling it to retail customers, according to the traders.) © 2000 The Street.com inc, All Rights Reserved