Quote from Jack Haddad, MD:
Hello Board,
I have been accumulating INTC since 27.33 in increments of 2000 shares. I now have a total of 12500 shares. I have been purchasing at pivatol points (support). My next purchase will be at 23.75.
From a technical point of view, INTC's 1 year chart is showing solid support at 22.70. I contimue to be impressed with the level of support and consolidation taking place at the current level. The pull-back from the 52 week high of 28.85 represents a greqt buying opportunity... and the stock has consolidated plenty in the 25.00 to 26.00 arena.
Fundamentally, in the 3rd mid-quarter update, Andy Bryant specifically stated that theu can hire fast enough to meed demands. I have spoken to several friends who work in the production Sub fab building at The Santa Clara Head quarters... They hired 185 manufactoring techs in the last 4 weeks. The chip sector is posed to do real well in 2006 as evident by 6% increase worlwide. Also, INTC's alliance with Apple will begin manufacturing chips in June of 2006. Market will begin to account for that very soon.
In sum, my goal is accumulate 20000 shares before the next trend ensues. I believe a run from 22.75 to 28 by Christmas is very likely.
All comments and suggestions are welcomed.
Jack