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New Long Plays

Intel - INTC - close: 26.80 change: +0.16 stop: 25.49

Company Description:
Intel, the world leader in silicon innovation, develops technologies, products and initiatives to continually advance how people work and live. (source: company press release or website)

Why We Like It:
I'm not convinced that the current market rally is anything more than an oversold bounce inside a new bearish correction. However, I am impressed that INTC has been able to maintain its bullish posture and shake off the negative earnings news out of rival Texas Instruments (TXN)today. We're suggesting long positions on INTC now although more conservative traders may be tempted to wait for a breakout over $27.00 first. Our target is the $29.50-30.00 range. FYI: The Point & Figure chart is bullish with a $33 target.

Picked on October 23 at $26.80
Change since picked: + 0.00
Earnings Date 10/16/07 (confirmed)
Average Daily Volume: 63.8 million
 

New Short Plays

None today.
 

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