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

To: Martin A. Haas, Jr. who wrote (66513)	10/13/1998 9:57:00 PM
From: Ron	Respond to of 186894

INTC last after hours trade was 1000 shares at 82 1/2. Does not bode well for markets tomorrow. The high between 4 and 4:30 pm was 85.

To: Martin A. Haas, Jr. who wrote (66513)	10/13/1998 10:37:00 PM
From: Paul Fiondella	Read Replies (2) \| Respond to of 186894

15237 Oct 85 Call options were sold today They were sold between 1 1/8 and 2 7/16 with the price at the close being 1 3/4. People buying those Calls either believe one of two things: -a- I've shorted the stock and this is the nearest Call to the current price on the upside to buy me protection. -b- I expect Intel to beat every earnings estimate and make a move of 4 points to the upside before Friday's close. The stock closed at 83 9/16's down 1 7/8ths. Market sentiment is so relentlessly negative, with CNBC carrying recession stories, that you have to feel in your gut that something here doesn't make sense. Intel is telling everybody that the PC industry has worked off its inventories, to the point of not being able to keep up with demand. That is pretty positive for investing in the techs. But people in Silicon Valley probably can't get a handle on the negativity in the financial markets in NYC. The whole economy here revolves around the financial industry which is now handing out pink slips because of bad bets on bonds and money lost in loans to hedge funds. ITs layoff and cut-back time and there goes the bonus that was going to pay for the house in the Hamptons. The only thing that will cheer these people up is Alan Greenspan flooding liquidity into the system via a high profile rate cut. Can Intel turn this negativity around? Well with MSFT selling at 96 some 24 points off its high and with equally stellar earnings coming in next week, you have to wonder when the Street will see what is going on and start a tremendous tech rally. Incidentally should INTC start that rally tomorrow we could see a nice short squeeze. I think I'm going to stay in the camp of optimism. On the other hand if INTC should finish tomorrow down,after a sell-off type day, then you have a definite Bear market signal. As clear a Bear market signal as one possibly can get.