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Long Play Updates

Intel Corp. - INTC - close: 15.50 change: -0.38 stop: 11.95

AMD's earnings results failed to have much of an impact on INTC. Both semiconductor stocks rallied midday with the market only to reverse. INTC hit $16.31 and settled with a 2% loss. The stock looks poised to retest its October lows near $14.26. More aggressive traders might be tempted to buy INTC in the $14.50-14.00 zone. If you do, I'd use a tight stop. I'm expecting a dip toward the 2002 lows near $13.00. We're suggesting readers buy INTC in the $13.25-13.00 zone with a stop loss at $11.95. More conservative traders may want to use a tighter stop (say 12.50ish). If triggered at $13.25 our first target is $15.75.

Picked on October xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 10/14/08 (confirmed)
Average Daily Volume: 74 million


Wal-Mart - WMT - close: 53.77 change: -0.85 stop: 41.95

WMT continues to struggle with resistance near $55 and its 200-dma. It would be easy to argue that WMT would out perform the market in a recession given its position as a discount giant but consumers will be spending less across the economic spectrum and the stock market is anything but logical. Fear could drive WMT toward significant support in the $42-44 zone, which is what we're counting on. However, we're going to try and capture part of that move lower with a new short on WMT in today's new plays. This bullish play will remain on the letter with a suggested entry point to buy the stock at $44.50, which is a change from our previous entry at $44.00. If triggered at $44.50, then we will have two targets. Our first target is $49.50. Our second target is $54.00.

Picked on October xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 11/13/08 (unconfirmed)
Average Daily Volume: 25 million

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