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

To: Thomas M. who wrote (47822)	2/14/1998 2:28:00 AM
From: Sonny McWilliams	Read Replies (2) \| Respond to of 186894

Tom, re: Insider selling. Macro- oriented. Sorry, I don't get it. What does he mean? Sonny

To: Thomas M. who wrote (47822)	2/14/1998 2:29:00 AM
From: Jeff Fox	Read Replies (1) \| Respond to of 186894

Thomas, re Insider selling He said the selling was light in the summer, heavier in the fall, and even heavier now. I wonder if Mr. Gabele knows the option expiration dates of the sellers. The activity might correlate better to these dates than the season of the year. Or perhaps the selling correlates with the estimated tax payment due dates. Options must be exercised before expiration and the dreaded AMT taxes paid. The "new" ISO shares MUST be held for eighteen months to qualify for capital gains rates, but the AMT is due in the year of exercise. This forces sale of existing shares to cover taxes. Just because they sold don't mean that they were happy about it... Jeff

To: Thomas M. who wrote (47822)	2/14/1998 1:15:00 PM
From: Paul Engel	Read Replies (1) \| Respond to of 186894

Thomas - Re: " He noted that it could very well not be company-specific, but rather macro-oriented." Yes - Bob has it nailed down. Let's face it - Intel Insiders have been selling stock since 1973 - 25 years ago. Did the first insider sale in 1973 indicate the company was doomed? Paul

To: Thomas M. who wrote (47822)	2/17/1998 8:26:00 PM
From: Paul Fiondella	Read Replies (5) \| Respond to of 186894

Tom, I caught that Gabele report on CNBC It was bearish. He noted the insider selling took place at lower levels in relation to Intel's highs and thought it confirmed his analysis that Intel would not retest its highs successfully and the insiders knowing this had bailed out. Intel did make a try at 90 in this renewed bull rally and was unable to close above 88. If you check the chart it shows a failed test of the highs and a fairly classic peak. A peak lower than last year. Compare this to MSFT or CPQ. The whole tech sector stopped being the gogo dancer of this bull rally after that failed test. There have been plenty of opportunities for the Intel longs to get out with their shirts on. Unfortunately for the average investor following this one sided thread, what the real insiders are doing and what the Intel drumbeaters here are saying the average investor should be doing are at opposite ends of the spectrum. ======================================= My own feelings on Intel currently are neutral. I'm not buying nor shorting at these prices.