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Registered User
Joined: 8/12/2006
Posts: 83
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INTC is trading near 20 and is at a good support point. I expect a near term up trend.
Entry: Now (20.13 for me)
Exit : 21
Stop Loss : 19.95
This is a very short term play of 1-2 weeks.
I monitor the chart on a daily basis and get out the next day, if the Intraday chart does not agree with my stomach
Experts, Don't hold back, I need all the Critiquing...
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 Gold Customer
Joined: 10/7/2004
Posts: 264
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For what its worth, I don't see true support until 19.25-19.00. Good luck.
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Gold Customer
Joined: 12/30/2004
Posts: 42
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Support is clear at 8/30, 9/5, 9/13, 9/15. IMO
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Registered User
Joined: 8/12/2006
Posts: 83
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Thanks to you both - Golfman & Arstk.
Arstk - I am playing this move based on observations similar to yours.
I am trying to discover my own personality to begin with. If it does turn around, there is a good probability of hitting 20.5 ++.
Beginners... (like me) - We will learn more and a lot quicker from sharing experiences and definitely mistakes.
Just trying to learn to take small steps before I can walk or start running...
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Gold Customer
Joined: 12/30/2004
Posts: 42
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This is not 100% but, old resistance = new support as seen in your stock at approx. $20.00 shown on dates listed above. IMO
If you would click the . (period) on your keyboard this will bring up the crosshairs and you can use the up / down arrow tab to move the horizonal line up and down to line up the peaks.
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Registered User
Joined: 1/28/2005
Posts: 6,049
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I brought the breakout from the double bottom.
(out of the position now)
See this post:
http://www.worden.com/training/default.aspx?g=posts&t=14698
Looks like it hit resistance where early 2005 support was.
Seems like to really get moving its going to have to break that
zone. (approx 22.50)
Thanks
diceman
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Registered User
Joined: 12/19/2004
Posts: 415
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And if it does close below 20 then the next support is the old bottom see in Jun and Jul I think the 19.95 stop may be a bit close to the support.
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Registered User
Joined: 8/12/2006
Posts: 83
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I got out around 20.48. Profit around 1.5%
Putting real money on the line tends us to be more aware of what's happening. It forces me to look at the chart 10s of times.
My current strategy is to play very-very short term uptrend moves. I decide before hand, Entry, Exit and Stop Loss points. Intraday charts do reveal more info on the very short term mood. If the stock is flattening or hitting a resistance point, I decide to get out. Simple rules - so profits are also marginal.
By adhering to a strict vigilance and tight money management rules, I have been able to turn all my trades into profits. Past performance is no guarantee of future results.
Recent posts from Diceman, Tobydad, Apsll and others made me realize Playing Long with stocks which are headed south is a disaster waiting to happen.
This has been a great year for me. I Wish everyone a more Successful & Joyous New Year.
<:o) = <:o) = <:o) = <:o) = <:o) = <:o)
HAPPY NEW YEAR
<:o) = <:o) = <:o) = <:o) = <:o) = <:o)
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Registered User
Joined: 12/19/2004
Posts: 415
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You can't go broke taking a profit.
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Registered User
Joined: 2/9/2005
Posts: 42
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Buying under the 50d-sma but at price support, all that one can hope for is a bounce, in this case it bounced just to the 10d-ema. TSV, MS, MACD, and volume have been trending down very bearishly on INTC, and TSV and MACD were below zero when you bought - so consider yourself extremely lucky you got a bounce and banked a small profit. No way I gamble with just price support as a buy indicator.
Look at FBR. It has bullish TSV, MS, MACD, and VOL trends and is also at price support with RSI>50. This is the type pattern that minimizes risk significantly. Like you said, no guarentees, but I want as many indicators in my favor as possible when I enter.
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Registered User
Joined: 12/14/2005
Posts: 9
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I have to agree with Nimbus on this one. Zag though you safely did get out, it was quite a gamble with the other technicals like TSV, MS and MACD against you. You want to make more "safe" bets where all the technicals are in your favor. Spening time to find 2 or 3 stocks where the technicals all agree with your thoughts will help your judgement as well as your portfolio.
Though as of this posting, INTC is up $.90 to $21.25. Technically, there was no indication that I saw of the analyst earnings upgrade by Bank of America. I will watch this closely as it edges toward $22.50.
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Registered User
Joined: 2/9/2005
Posts: 42
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You gotta love the stock market and TA. With the 1/4/2007 close, INTC recovered from it's many sins and now has triggered some healthy TA BUY indicators by closing above to 50dma, MACD cross-up, TSV crossing zero, MS crossing its 22dma, strong 2-day volume, and RSI and STOCH coming off the bottom.
Let's see if it holds!
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Registered User
Joined: 12/19/2004
Posts: 415
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I think that the buy recommendation had a lot to do with that quick move up. One shouldn't make to much out of one day moves. If this has indeed changed character the technicals will continue to improve. If the move was a one day wonder the technicals will deteriorate.
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