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Technology Stocks : Intel Strategy for Achieving Wealth and Off Topic -- Ignore unavailable to you. Want to Upgrade?

To: Sonny McWilliams who wrote (13995)	12/5/1997 1:54:00 AM
From: TechnoWiz	Read Replies (2) \| Respond to of 27012

Sonny: The fact that ADIC got slammed back down following the media inspired rally this am is not a good sign and validates the somewhat negative technical picture of this issue. Part of my analysis stems from the fact that following the inter-year double top at 25 there have been a number of failed rallies and specifically three or four more following October's low including today. There is a slight chance of a recovery type rally that could begin tomorrow, that has better odds if tech market is also strong. A weak close tomorrow would have to be construed as quite negative and I would not underestimate the longer term implications of today's and recent day's actions, because unless there is a surprise rally that essentially negates that action the odds of those downward spikes reversing any rally attempts remain high. The same kind of applies to INTC here. Today's action was not very constructive and creates a formidable obstacle for INTEL to overcome. I note that it tried to put in a double bottom late today and in the event that this were to hold it might offer a basis for a rally attempt. In that event were Intel to once again regain yesterdays highs of 79ish, then I would have to conclude that the odds of continuation to higher levels would increase significantly. I think it attempted that yest and failed. I believe the overall market got spooked by pre-employment report jitters. Although structurally Intel does not look that great right now, I still feel that if the Blue chips are stronger tomorrow they could help techs recover. Conversely, If the report is interpreted negatively, then the effect on the techs might in fact be accentuated. So I would expect by the time the market opens we may get a handle on this, depending upon how extreme or benign the reaction is. Still not feeling the best Hope this is of some help Kind regds Wiz