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Wednesday, July 14, 2010

interesting set-ups

Here are some interesting technical set-ups...

1. INTC - Today's decline after earnings may have been a gift. Longer-term, the weekly is setting up for a breakout of its long-term trend. When it first was testing the resistance, I indicated a consolidation was in order. During the recent market decline, nice buying opportunities were presented. The set up suggests a break from the negative trend may push it into the 30s or so. (There is a decent dividend to get paid while waiting.)


2. GS - A few days ago it was on the verge, and the other day it broke the resistance. Now it has to show conviction to the breach. From media reports, I get the sense the perception is shifting more toward the positive, and if this WSJ article is accurate about the broad settlement, GS could get the fuel it needs.


3. AAPL - The more and more I read about this antenna issue, I think of my friend laughing in my face when I asked him if he would return his iPhone 4. (I'm still waiting for one to come in.) Too many blog reports and opinions disputing the Consumer Report test, and general negativity on the device. Also, the 90sma appears to be holding. The Friday press conference may provide enough clarity to push the stock to 270 again.

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