No Zip in Mother Chip

"Wooa, that's a mother dictionary!"
--Lloyd Dolber (Say Anything)

Intel (INTC) certainly is not the market 'tell' that it used to be. However, after surprising markets with a rather strong earnings report and forecast in early July, the stock has given back all the euphoria and then some.

Looks to me like $18 is a pretty serious line in the sand for this stock. Last time it let go of this level was during the 2008 meltdown.

Hoofy might argue that Mother Chip is merely in the process of tracing out a huge multi-year reverse head and shoulders pattern.

Will be keeping half an eye on this one...

no positions