Intel Says ‘Hands Off’
The Qs are down sharply this
morning as
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PowerRating)‘s “you-can’t-have-any-of-my-money” approach to next year’s capital budget sent alarms
throughout the tech world after yesterday’s close. As a result, the morning
range has been driven and capped nicely by the 13-minute 15-MA which has
provided a few low-risk pullback entry opportunities.
Wednesday January
16, 2002 12:15 PM EDT
I’m continuing to
watch the oversold stochastics developing on the longer-term time frames, as
well as the potential handle base approach on the weekly chart, yet the Qs will
need to trigger long on key intraday time frames before doing much more than
simply watching.
Good Trading!