Long 6957 shares INTC

I now have 6957 shares of INTC at a cost basis of $22.46 with no reserves.

The only reason today's purchase was able to occur was due to the freeing of cash in a joint venture with my father where I previously had $20,000 of my money committed.

Today I bought 909 shares of INTC at $21.98 per share to complete the total position mentioned above.

From here on out, any further purchases would be the result of free cash from my salary, but no more 'windfalls' for me!

Have a great week!

Hoh yeahhh!

New Money in INTC

Greetings readers! I hope each of you weathered the storm in the East safely, and for those in the West: easy living!  Just bringing it to your attention that my father, Mr. Cohen, has agreed to allow me to move $20,000 from an approx $32,000 joint venture to my account for trading. While the $20,000 is and always was mine, the judgement and willingness to allow me flexibility in the direction of those funds given previous ventures and commitments lies with my father, whom I might add taught me everything I know about stocks. That being said, once these funds are made into liquid cash this morning, I will be placing a market order for the purchase of $20,000 of Intel to further lower my cost basis. These figures will be reflected at the end of the day on my website.

Hoh yeahhh!

The Plan For This Week With INTC

The time to pile in for Intel's dividend is rapidly approaching, within the first week of November being the cutoff. Volume after hours has been equaling volume during trading hours on the last few up days. It appears there is a large institutional buyer, as they usually account for the most volume right before the close. I'm still happily sitting on my position, acknowledging that I will never pick the relative bottom or the top, but will always come pretty darn close. So far, so good...

Hoh yeahhh!

This Week's Plan

I have 6048 shares of INTC at a cost basis of $22.53 per share.

While in the hole, I still feel very confident with my position. Intel currently trades at $21.26 per share without an up week for 10 weeks. The weekly chart for Intel continues to become more and more compelling, with the weekly RSI at 27.57, price below the lower bollinger ($21.28), and MFI just above 20 at 25.80.

This week's plan is simple: sit like a mushroom and smile at the clouds.

I'll sell when there is cash on the table to take.

Hoh yeahhh!

The Plan for This Week

Being long so many shares of Intel now at a cost basis of 22.53 per share, the plan is fairly simple. Intel reports earnings on Tuesday, so if there is a short cover between now and earnings where I can realize $2000 to $3000 in profits, then I will take that off of the table before earnings is released. Earnings itself is a coin flip, and another coin flip upon that is how the market reacts to earnings, because I've seen both good and bad news create unexpected share price gains and losses respectively. Ideally, Intel tests the 50 day moving average at $24.21 and I sell my entire position somewhere around there or on the way up. These are all hypotheticals and this stock could easily plummet as well. Selling off Intel going into the holiday season with Windows 8 product pre-release stockpiling possibly being counted into the last quarter's numbers for Intel seems nonsensical to me. Tuesday will tell the story.

Hoh yeahhh!