Keeping the Market Simple…Intel as a 'Tell'

Posted by Howard
on August 11th, 2009

So much discussion about bull/bear, overbought/oversold…I am guilty as well.

I was looking at a few old posts from January through March of this year and it is painful to see how right I was and how little I have made.

I absolutely nailed the bottom on March 9th and instead of walking away with my buys, I sold them in April and than got all smart.

Tonight I was thinking about the tape and the noise and the first selloff in a month and wondering if anything truly significant was happening.

Looking at the price action in Semiconducter Bellwether Intel $intc, it looks like we are still ‘all clear’ at least in technology.

I don’t want to own Intel, but as long as it stays above $16, the best stocks should just keep bouncing back for the most part.

With respect to financials, there is no longer anything to read. I just avoid and wish I had stayed with the boatload of Amex $axp I was buying on the way down in the 20′s.

It’s just been tough and I am glad I don’t have to make my living off stocks these days.

For those making the bucks this year, you have my total respect.

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