Well, my cautionary post about Intel (INTC) was well-founded. As you well know by now, the stock is trading up nearly 5% after hours, and the @NQ instantly exploded higher, as did the @ES. It seems pretty evident tomorrow will be another up day, with Dow 10,000 absolutely within reach.
About one-third of my positions are long right now, and although I continue to view the advance with increasing skepticism, I have held off getting aggressive (as I've been saying ad nauseum). If these kinds of earning reactions continue, the oft-mentioned target of 1120 on the S&P seems probable, even though it seemed like science fiction back in March.
Here are three big indexes I follow, and the "risk zone" for more easy upside on the part of the bulls.
I think I'll probably wrap it up for the day at this point. Thanks for visiting, and I'll see everyone here in the morning.
