I happen to have far more than a basic understanding of technical analysis. you on the other hand apparently do not. within 2 days, mu dropped over 10 percent
and you have been losing your shirt, here and at fcx
even with that being the case, and with the qqq sitting right at the breakout point, ie former high of 111.00, potential short term support, the fact remains that intc is in a confirmed downtrend and a transition to a new uptrend highly unlikely, thus the orfer of the day would be to sell bounces, the same scenario that has existed since 34,50 proved to be an overbght top which produced a drop to 31,00, bounce fo 32.50, drop to now former support at 29, oversold bounce, not inclusive of after hours, to 30,50 and collapse to 28.00.
waldo will be lucky to get out at breakeven as the overall market likely sets up for a meaningful correction
too funny. now that intc is down 25 percent below it's 52 week high, will waldo still insist it's been a great performer 6.00 below where it was 11 years ago, peaking well before the market did more than 3 years later.
amat was 26 then, 04, never made it back there before peaking again in the high 25's before collapsing again to the low 17's.
yeah chip stocks are wonderful long term investments, potato chip stocks
the so called carnage was a drop of less than 3 percent off all time highs for the qqq, the real carnage hasn't even started,
as I noted earlier in the week, technically mu was overbght at 20.00, people scoffed, so what happed, a quick drop of 10 percent, new 52 week lows for intc, amat. the only positive for mu is it didn't t make a new 52 week low, yet, and subject to a buyout, too dangerous to short on an overnight basis
it's never a good sign when you have to go to a 2 year chart to try to find some chart support and what you find is lower.
26,50 bounce this week was sold, where, prior support, way up there right under 29.00, a triple bottom breakdown. plenty of new longs will still be looking to get out on any bounces.
think bear markets aren't relentless, see pgh
poor waldo, you need almost a 10 percent rally just for the price to get back to where it was when you posted this nonsense.
good ole wallisweaver just continues his losing ways, this time, in intc which per him, back in feb at 32.50 was on it's way to 40.00. seem he's now underwater on every buy this year, some of which were once upon a time profitable. after the earnings report, he proclaimed it was onward and upward and supposedly added the next morning as the selling continued from the post earnings pop of 32.40 to 28.06.
sold my tqqq this week bright and early on the daily rsi 70
played some long trades on mu, got too greedy and missed the 20, but still nice profits
yeah, the qqq's are so terribly oversold, less than 3 percent off all time highs. where i just so happened to sell my tqqq;s for a very tidy profit;
you will be lucky to get out of your intc buys at breakeven, including the buys you supposedly made way back after the first collapse under 32.50, after you called that the bottom on the way to 40.00. too greedy to have taken profits way up there at 34.50 so you are nicely underwater on every intc buy this year, and let significant profits disappear by only thinking about selling way up there in the high 37's.on your other intc holdings
the longs should have read the blog on stockcharts.com last week, re INTC if the 29.00 ish triple bottom broke. for all those who sold the earnings night pop to 32.40, congrats.
The QQQ are back to the break out point, about 111.00. monday may see some short term relief, but the clear pattern established is lower highs, lower lows for INTC. and the last lower high was 32.50
and just last week, all the longs were bashing Bernstein with the call for INTC 28.00.
Meanwhile, IAG up over 10 percent, GFI up, gold up.
Gee, thanks for all the thumbs up, longs sure have had a great week losing close to another 5 percent in INTC.
waldo better hope mu gets bought out.
Waldo is an idiot who let's profits turn into losses. Inexcusable stupidity to let a profit disappear.
With all his so called new buying lately, one wonders how long he really was when he's been pumping nostop.
Back in Feb, at 32.50, INTC was headed back up to 40.00, instead what it got was a dblt top with an overbght at 34.50, a bounce back up to 32.50 as resistance and a wonderful earnings report per waldo and onward and upward from there, instead, straight down from there every day.
Waldo will likely go broke in a bear market,, all year long he's let profits disappear and turn into losses, then so he says adding more money in. The overall markets just trurned down, the QQQ from all time highs, where I sold my TQQQ, and Waldo keeps calling a bottom in stocks already in bear markets
yeah, its done so well this year with the qqq less than 2 percent off all time highs, making a new 52 week low today, a wonderful stock.
it took intc over 10 years to get back over 34 and its under 29 again after that great earnings report waldo was raving about. .
If waldo was in fact buying mu times 5 post the collapse and only had minimum shares from 26 plus, my guess is, though he screwed up some good selling ops from 20 back down, that with a new add, say 18.00 for number 5, he'll make more/lose less on mu than on intc.,
ie 19.44, 18.73, 17.40 x 2, 18.00. assuming equal lots, average, excluding commissions, 19.44 due to the 26.00, gave credit for a buy there, a dble bottom low that went to 28 before the reversal and failure of 26 support.
so still underwater, but my guess is he makes more on mu than his adds.buys of intc ytd, all higher than the current price
I doubt Wally would have any idea what even being married to one beautiful woman would be like, or ever will, what woman would ever put up with his nonsense?