Tuesday, April 13, 2010
INTC Beats
Well, it looks like we will have another gap up tomorrow, INTC has beat estimates and INTC is spiking higher on the news. The spike higher in the last hour was a bit surprising, but we are so close to the top that I am not going to worry about a few points here. I will keep my short bias and I believe the top is getting closer. The trend of weakness that lasts less than 2 hours continues. The speculation in stocks like ABK has gone overboard, the market is frothy.
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6 comments:
You kind of sound like one of the old 1950's ivy league white dudes like dodd and graham or something. maybe buffet. Very old school.
The market is very frothy here and we will continue to stick to our short bias as it remains that the fundamentals are clearly inconsistent with the underlying sentiment, as evidenced by the petulant dash for trash. Do you have any grey poupon?
If you look at 10year chart on INTC you can see we have very big resistance at $24.
http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=intc&sid=0&o_symb=intc&freq=2&time=12
Doesn't look like big resistance to me. Also a move to 24 from here is pretty big for this stock.
Look at 10year
10 years is one decade right?
here is it ...
http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=intc&sid=0&o_symb=intc&freq=2&time=13
Who cares INTC couldn't make it past around 25 during 07 to 08. It's still a good move from the current price.
You have to remember that basically there is a lot more dollars around now than there were even last year.
24 is nothing.
Who cares, the price of everything is more, salaries are basically less, and the dollar buys less.
Therefore the real value of us stocks in nominal value us dollars is not the same as it was last year as it was this year.
come on free money, zero interest rates, obama and bernanke.
Check this Link out:
http://chart.ly/qx6224
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