You should have bought yesterday and not sold. Yes Romit Shah is an idiot, right up there with James Covello, both are slinging mud today since Intel keeps going up since they both downgraded it at the bottom. Idiots.
The good thing is that Intel will make these guys look like complete fools once again.
This time they are really playing with fire. Intel's $6 Billion debt offerring to buy back stock should not be taken lightly by negative analysts and shorts. Stock will continue to have huge buying pressure in the coming months. If $5 Billion is used, that is over 230 million shares. I'm guessing Intel will be placing the buying pressure on the market at about 10 million shares a day for a couple of months at least. That could place anywhere from 25 cents to 50 cents positive move on stock price as buys are being made by Intel. Some days the analyst manipulation may work to subside some of the buying pressure, but it will get old and not work anymore. So if we get about 20 days out of the next 40 days working for us in the positive, we could get a bump of $5 to $10.
Of course after $25 some profit taking pressure may create some resistance. But up to $25, the stock's resistance points will be taken down easily with Intel's aggressive buyback actions.
Like I said, shorts and those two idiots from Goldman and Nomura are playing with fire as Intel stock will continue to be on a hot streak.