OPTIONSMART MORNING UPDATE: Boosted by Intel
October 14th, 2009 at 8:36 am
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OPTIONSMART MORNING UPDATE: Boosted by Intel |
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1. OUTLOOK: After the close, Intel reported quarterly sales and earnings that topped estimates. The chipmaker also said it expects gross margins in the 59% to 65% range versus the 56.7% consensus. It looks like this positive news has been already factored in the price and shares fell after hours. The tech sector (QQQQ) probably is ahead of the fundamentals, but that doesn't mean it can't keep going higher. The reality is that the money has to go somewhere and big tech names, including Intel, look rock-solid. The market is poised to surge at open.
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2. TRADING OPPORTUNITY: Buy semiconductor stocks on weakness |
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