In the morning, I am going to do something that I don't normally do. That is...to buy Intel at the crack of dawn pre market as soon as I can get in. I usually wait and buy in later when the market has opened and determined a direction. But with this set up I feel strongly that it is the plan to do. Here is why: Intel has created a double bottom reversal set up at slightly below $26.00. It has also maintained support at roughly $26.00 In the after market MSFT is up 1.71, QQQ is @ 1.19, Brcm is up to 2.84, IBM is up .46 and Intel is up .29 Stochastics (Fast) look good and appear to be moving out of the oversold range. Volume looks good and increasing. The interest rate fears have subsided in lieu of earnings. MSFT IBM BRCM are heavy weights and move the market and the market will follow there lead. I don't want to buy any of the others because I feel that they have gone up to far already and do not want to chase them. Jim Cramer on his radio show says that Intel is the stock to buy in the Tech sector. Good strong Companies such as Intel should do well in the up and coming interest rate environments. Now for all you anti Crammer addicts out there...its not a matter whether I agree with him or not...he does have a large audience and following. Intel had great profits and earnings report as far as I am concerned...its just that the day they announced their earnings report ...they got hammered by the high interest rates panic and the market sold off...all stocks sold off just about...it did not make any difference if they had a good report or not...interest rates going higher won the day....well, for now interest rate fears have subsided...if only temporarily...I think that Intel is all pent up...waiting to explode...I believe that the shorts are going to get squeezed tomorrow and the market will go up and stay up similar to what it did today I believe Intel will break resistance at around $28.50 and continue on to around $29.50 before slightly pulling back. My target is $29.25. If the market behaves tomorrow like it did today I will do the unthinkable for me and hold it over the weekend. My stops will be in place. Well my neck is out there...go ahead...thats my take.
I am smart... eh(posted abot wrong stock). Anyways, made a comment with Wizetrade(if you don't mind). The week has been going for along time(down)... and after reading your post... it looks like it COULD explode at anytime... good luck with the trade, it'll go in your way(hopefully)...(all lights just turned red... been green most the day)
mrbunnyrabbit Just when you think you have things nailed they go wrong. You know the market as well as I do. I will be keeping a stop on it. I do believe I am right....unless the market proves me wrong. We will see in the morning. Thanks for the good words.
Vinigar, NICE CALL !!!!!!!! SPY flat barely up 1/10 of 1% --- up .096% INTC up huge!! --- up 3.80% YOU DA MAN !!!!!! Best Regards, Dave Scott