Textbook Dandruff

When it gets too much
I need to feel your touch
--Bryan Adams

You'll struggle to find a more textbook-looking head and shoulders set up than the current Intel (INTC) chart. Pattern matches a fundamental story of over-investment, earnings manipulation, and channel stuffing. After popping after hours last week after the company's earnings report, the stock has since given back those gains.

If the neckline of the pattern at 29ish breaks, then the breakdown intuitively 'works' to 26ish (which corresponds to both intermediate term support and the 200 day moving avg).

Actually have my first put project on in quite some time...

position in INTC