I agree that Intel is a good company. But why pay more than you have to? I'm sure you would have thought that buying at 85 a couple of weeks ago was a good idea. I say buying at 75 now is better. And buying at even lower prices is still better.
I'm deep in margin as it is. I certainly can't justify paying a premium price for a stock, no matter how much I like it. And the simple fact is, 75 is still a premium price. The fundamentals of this stock have NOT improved over the last 18 months, they have gotten somewhat worse. You could have bought INTC as low as the mid-60's (split-adjusted) during the last 18 months. Thus, it seems reasonable for INTC to be on sale for perhaps as low as 60 sometime (maybe only for a day). So I have my limit order set.