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Strategies & Market Trends : Help me become a millionaire -- Ignore unavailable to you. Want to Upgrade?

To: victor pan who wrote (554)	3/7/2002 8:07:40 AM
From: lee0	Respond to of 583

hmmm INTC if you look at the weekly chart it is in a fledgling uptrend. also yesterdays close set it right above/at the minor downtrend line. it also gapped up through the minor down fork. if i was long i would be watching the 32-30 level if goes through that i may contemplate the bear side. but the charts look like it could strengthen. it would be nice to see some volume on the upside soon. blah blah blah..... when did i buy the calls and how much did i pay for them?that makes all the difference in the world.;) (i really don't dabble with stock options sometimes futures options but only to hedge a position on the table when the volatility gets high.) stock options to me are like bakarak unless you are writing worthless options close to expiration. right now i am long INTC in my IRA but if i was going to get long now i would wait or start accumulating a little bit . not because of the report coming up. it may break out but stocks like this almost always have a pull back after they break out. see the up trend channel that was broken on 1/18. sold off hard the next day only to rally almost back up to the previous trend line before it fell again. if you would have shorted it on the trend line penetration 33.5 it would have ran up to 35 before it reversed. still not stopped out but if you would sell say 10,000 @ 33.5 just in case it runs down hard your in. selling another 10,000 when it rallied back up to that point again when it rallied up to 35 and turned around again then you KNOW it is going down sell freely. the moral of the of the story. if i was going to get into INTC and had no position i would wait or start to pick up a small amount before committing to a full position. >>Buy on rumor sell on news means a reverse course at a breaking news.<< this is the for me the hardest part of trading because in acting on this thought you are telling yourself that you understand the madness of crowd behavior. you never know how people are going to react to news. this one guy that i know is incredible at doing just that. he does this not only in the markets but when we go somewhere and there is a large crowd. he can tell how a crowd will react if he does something to "prode" them. it's funny. i wish i could do that but this is not my niche. >>do you think it's INTC who is going to start a real catch-Dow-up rally, or it's INTC who is going to lead the way of profit taking?<< beats the hell out of me! that is some real crystal ball stuff. you should call miss cleo for that one. <g> anyone that tells you which stock is going to lead an entire market is a crack head.