Intel Pushing Higher Ahead Of Earnings

1:00pm (EST) The bulls are trying to get the market higher today after starting off the session behind the 8-ball. They are doing a pretty good job as they did get the market into positive territory but we have since slipped once again. The Dow opened lower and traded to a low of 9,815 (down 70) but has rebounded off the session lows. Currently, the Dow is down 13 points to 9,872. We have a mixed bag with the Financial stocks. The credit card companies are doing well…American Express (AXP, $35.39, up $0.31), Mastercard (MA, $216.78, up $0.78) and Visa (V, $74.47, up $0.77) are up while Bank of America (BAC, $17.80, down $0.23), JPMorgan Chase (JPM, $45.23, down $0.83) and Goldman Sachs (GS, $186.32, down $3.80) are slightly lower. Of course, the big news today is Intel’s (INTC, $20.61, up $0.21) earnings after the bell. The stock has held up rather well today and there is heavy volume in the option pits. By the look of things, the action is pricing in a 5%-10% move in the stock and there is a bullish tone being set. However, Intel will need to beat on earnings AND revenue, in my opinion, for us to move higher. Current Subscribers are up 60% on one of our Intel trades and can check the Members Area for the updates…oh, Imax (IMAX, $10.16, up $0.11) has set a 52-week high of $10.25 today and continues to reward our patience.]]>

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Intel Pushing Higher Ahead Of Earnings

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