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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 (22850)	2/22/1999 2:02:00 AM
From: Technician	Read Replies (2) \| Respond to of 27012

Futures were up Friday as well, this market does not have any juice,the techs have traded like they are suffering from anemia. INTC has successively set lower highs and lower lows and its down days volumes has been higher. The chart looks bad too, whereas MSFT, CSCO, NAZ, IBM, INDU and SP500 are all trading below their 50 D moving avg, INTC has been closing just above or below it. The stocastics are negative on all the above charts as well and the MACD indicates the beginning of a down trend, INTC has a high of 143 and there is nothing which says that INTC will move decisively on high volume towards that target. conclusion: while it seems that the techs are vulnerable to a free fall, the smart money will from time to time rescue them on any positives such as the FEDS bias towards rates etc; so expect more of the same (i.e) 122 to 130 trading range for INTC. Any significant move of the 30 year T bills yield towards 6.0 and you could see INTC at 100, the fundamentals are in place but price cuts and stiff tech sector competition neutaralize this positive. I expect INTC to move higher after is split and keep moving higher after its earnings report in mid APR, until then we are locked in this trading range with a dangerous downward bias depending on interest rates.