Hi Randix ....have a fun day "knock 'em dead" ? ;-)
You know that's prolly what that headline does mean for INTC , the big Mid Q is in March but I saw an earlier one too that was
<<<Intel Corp.-INTC 1pm business news update cc 2/26 sponsor Co" >>>
You know how I kept mentioning to Jerry about that huge dumping we began to see back in mid-Jan on the tape , and AMAT tried to rear up a second time making a lower double~top to the mid-high $24's .... that was giving me the roadmap for what lay ahead , combined with the constant selling pressure everyday on the giant INTC ....what was significant then was that HUGE resistance on AMAT then of $25 which has traditionally put AMAT at a prime Valuation in the best of times .
One of the maxims is also without further catalysts:
"if they can't push 'em up farther" , then they'll sell them back down "
Thru the noise surrounding and going into the weakness/doubt into NVLS CC now , I was taking my que off of AMAT to see how this scenario might unfold since it was somewhat in the clear from their eps report and guidance , and on the 23rd and 24th both dips to $20.90's were getting bought hard. This was what was giving me the confidence to see an early sell-off followed by a rebound today .
and you know I watch level II and the ecns as well and was right in the middle of that action , and was waiting each time the last few days for each dip there ...while watching the body language of the others .
On INTC NVLS and KLAC today , it was almost the perfect scenario unfolding if you also had the charts running for all 4 amigos , INTC KLAC NVLS & AMAT which I always do , so I am not just throwing darts and guessing . (including levell II & ecns for all 4 as well)
If you followed the action or look at the 3 min chart for INTC you see that $29.39 area holding thru , and INTC gave a tell-tale sign of wanting to bid up later from the first , after the usual "trap a few shorts " & bounce scenario was possibly to unfold ...I mentioned this to Zeev early on , as you guys in "Da Room" would have been messing & playing around with charts , instead of planning your strategy for entrys
"alot of valuation "hold" calls in the semis so far...perfect day for some shorts to cover into weakness ....but a weaker opening for them looks like but not huge selling here yet "
* You know as well as I , when they wring out all the bad news and pushed them way down so far for weeks .... Hedgies from much higher up have a tendency to cover larger positions into the final weakness , and new shorties get rolled over and sit there unbelieving , hehehe....
What was really beautiful about today , is Thomas Weasel gave all three amigos AMAT KLAC and NVLS a peer perform rating , so they all peer-performed , hehe .
and the beauty was of the entire morning was , that they did the whole scenario in easy 1-2-3 steps ! First they pushed down INTC and it stabilized off $29.39/41 area ..then they pushed down NVLS to support and hovered it there briefly to $32.25 ....then they went after KLAC to wring it out to the mid~$52 area of support , getting new shorts in and others to dump ...and then reared them all back up with a bit of a small vengence .
There always is alot of money to be made on a day like this , if you guess the set-up correctly and see the signs and plan the trade ...and just read the charts! But Jerry doesn't believe I can read a chart , LOLOL!!
About +$1.50 off both NVLS & KLAC'ster ...a huge +50c off AMAT romp to $22 ...and +40c off INTC. But one has to see the set-up and plan the trades early on as i said before, during the premarkt, not alot of goofing off and being captured by the fear....as Jerry says --->read the charts and ignore. But I can't read charts ....hehe
*** Another tip-off today was how some traders went after the momos like QCOM early on , and the bounce in the Networkers CSCO and FDRY . I tried all this time to try to get some to notice the bottoming action in FDRY & CSCO. Again just look at the charts...and the action .
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