Peter Reznicek over at Shadow Trader totally disagrees based on weekly chart technicals- INTC just bounced off of trendline support, and lower line of 2 SD channel, at 21 on weekly chart just as it should, forming a nice rounded bottom pattern, rebounding off of extremely oversold slow stoch, macd, and RSI. technically its bottomed. Reznicek thinks a slow grind up is in order
intc is not a broken stock
plus the 4.2% div ain't bad
you may have fundamental reasons for shorting but those reasons were much more valid when intc was at 29, bro
The BIG question is, where is the bottom... Q4 earnings, should give us a much better look at where it's headed... I think they are going to do much better than they anticipated at Q3 earnings... Which should for a short while give it some traction... I'm at least short term long (if that makes any sense - 3 to 6 months)... however I think someone that was looking for popping in an out of the stock, they could be doing well shorting around 22 and buying around 21.50... of course, I'm really hoping that next week it makes progress in the up direction as good and better than it did this week... Lovely would be $24 or $25 by the end of next week, but that seems like an impossibility at this point... unless some real radically good news comes across the chain... Of course if the shorts get their wishes, we'll see $20 to $21 by the end of next week...