Intel rallied up to the 22 resistance level yesteday and fell back down. The stock is still in a technical trading range between 21 and 22. Short term indicators have begun to turn up so the technicals read slightly bullish. Until we break 22 to the upside we are still in a very defined trading range so I will call this neutral.
ARMH today ralied over the 42 level and above the 50 DMA. The breakout was on weak voume and this is preholiday. It is possible this is a false breakout but we should get more clarity next week of a continuation or not. For now, I am going to call this bullish with a question mark but I exited my ARMH short position with a small gain having aquired most of my short position at 43. Better to be safe then sorry, I guess.
I'm hanging in with my ARM puts for the time being. I have until January and I believe there will be some earth-shaking Intel deal between now and then to drop the bottom out of the ARM stock price. Or the accumulation of Haswell, Bay Trail and Airmont will do the same thing. Or Intel's web TV. Or a big Apple deal. So many good possibilities!