A Couple of Things

A while back I mentioned The Fly on The Wall Service. In the daily morning email there is a technical snippet about Intel (INTC) possibly going up to $19.97. $19.97?

I am not quibbling with the TA they are doing this is more about shock that the stock is so low that a bullish scenario has the stock going up to a point that is still below $20. This is one of the many how the mighty have fallen type of company. It makes sense that at some point the company will reinvent itself or if it already has, it will do a better job of making the market realize it has. It may also get a tailwind when the mega caps rotate back into favor. Of course this may not happen until 2016.

I have picked on Ed Keon from Prudential quite humorously for bad timing and very rarely, if ever, being right. Well on Monday he upped if equity weighting from 55% to 60% and he was right, for a day anyway.

Lastly the dollar has been pasted this week which has helped foreign stocks a lot. Even the NZ dollar is up vs. the greenback. For now it can be assumed that my sale of NZ Telecom was not ideal. I sold when the kiwi was around $0.66. The kiwi broke $0.60 for about ten minutes one day (as I thought) but the NZ stock market had a big rally so the ADRs stayed in place. I still expect more selling in the kiwi and while I still plan to reenter the name I will continue to wait as per my original plan.