I have been in and out of this stock a couple times... made a little money on it but the story has always been, report good earnings, the stock goes down. We've had a run up before the earnings report and in Intel's case, that hasn't proven good in the past. My guess is that we go lower after earnings... Buy back in around $19-$21 level.
Good luck to the longs though.... I've been bag holder with this company before and it's painful.