It only took nearly 18 years for the NASDAQ to reclaim it’s all-time highs last set in the year 2000. /sarcasm
But, strangely, one of the remaining tech darlings from that period which is alive and kicking as strongly as ever — Intel corp — is still approximately 33% away from it’s high water mark set in August of 2000. Where I come from, we call that a divergence and one that will likely be resolved. And if the current Bull Market is to continue, then I believe INTC will be playing some serious catchup soon — and HOLLY agrees. She’s now sniffed out opportunity twice in the past 6–7 weeks to take long positions.
SWING TRADERS: we’ll be adding Intel $INTC to the @tradeideas HOLLY Hot List at tomorrow’s open of trading. With NASDAQ back at all time highs recently, there’s no reason Intel shouldn’t be making it’s way back there again soon too. pic.twitter.com/aqgFAFOaFN
— Sean McLaughlin 📈 (@chicagosean) March 19, 2018
Perhaps I’m a bit nostalgic for the “good ‘ol days” of the dot com boom, but getting long INTC here just warms my soul. “Bull Market” and “INTC” go together like peanut butter and jelly.
We’ll be adding INTC to the portfolio at tomorrow’s opening print (Tuesday March 20, 2018) and we will trail it with a 20% stop loss (as we do with all open portfolio positions).
HOLLY Hot List Portfolio Update
Sadly, we surrendered our ARNA position back on Thursday after the stock began an eleven-day free-fall (which is still ongoing). Our stop got us out at $35.60, which was fortunate as the stock is currently more than 14% down from there since! This is why we always have stops in place — because you never know how much further they can fall.
And speaking of which, the portfolio has been struggling as of late which may be a signal that the current bull market is tired and needs a rest. Only time will tell. But this is a not-so-subtle reminder that this is no time to get cute with your stops. Stick to your exit plan, no matter what.