What It Would Take to Be Like Apple
I already have the setup of VIX puts from earlier today, which I thought would make for a possible winner of a trade if Intel (INTC) were to come in strong tonight -- and all indications are that the company will deliver a solid report. Expectations have been diminished for many names, although the market action lately has me thinking that companies will have to not only beat but beat by a wide margin. Therefore, I am going to add April $29 puts on Intel around $0.62 going into tonight's report. If the company does somehow disappoint, then all signs point to $27.50 on the chart.Intel (INTC) Source: StockCharts.com View Chart » View in New Window »
The chart is actually a bit tricky. There is a solid bullish channel pushing price higher; however, there is a wedge forming within the larger channel, which, if broken would be bearish. Also, we have a few divergences forming on the chart which is dampening the overall bullish picture. I think we see a sell-the-news reaction here....284 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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