Intel Chart Breakout to Above $16 Per Share
Companies / Tech Stocks May 05, 2009 - 11:28 AM GMTBy: DailyWealth
On March 13, we wrote how a rally in Intel's stock would lead us to believe things were getting "less bad" in the world.
Intel is the world's dominant producer of semiconductors... the little "engines" that power everything from cars and coal plants to televisions and telephones. Its share price gives us an "unfiltered" look at what's happening in the economy.
When Intel began rallying in March, we pointed out the amazing predictive ability of the stock market and claimed, "What you see happen in the market today will be in the newspapers three to six months from now. If Intel works its way above $15, you'll be reading things like 'semiconductor demand falls less than expected' in September."
As you can see from today's chart, Intel has comfortably "broken out" to a new six-month high. And what's this? Last week, the Wall Street Journal reported that semi sales, while terrible in March, were "less terrible" than those in February. Intel is rising... sales are getting less bad... and the "long global recovery" trade is on...
Brian Hunt
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