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Realtraders,
I would tend to agree with Patrick's statement below...further weakness
in INTC is still likely. If you observed today's price action, INTC opened
down 11 1/2 and was only able to muster a 2 point bounce during the middle
of the day. Typically, this would suggest that the buyers were not present
even after INTC pulled back 13%. Further, its current price of 75 1/2 does
not reflect any significant support levels. Therefore, I would look for
further weakness over the next few days to continue to pressure this stock
down to the 67-70 level. At which point we may have a tradable buy or a
long term buy signal which we can play.
Just my opinion,
John Boggio
At 09:10 PM 3/5/98 -0500, Patrick Slevin wrote:
>Personally I am not a stock trader. I may never own INTC.
>
>But I get the feeling that all the news is not out on INTC.
>
>While you fellows are looking for 85 and 120, is it possible that the
>island reversal in the chart points to 65?
>
>I don't want to throw water on the party, but it seems the "Buy the Dip"
>reaction to this selloff is perhaps unwarranted.
>
>Suppose the rumor on GE earnings is true; the Dow monster will bring the
>entire party to a close.
>
>Just an opinion.
>
>--PJS
>
>
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